New program launches in Houston to educate health care leaders
Rice Business and The University of Texas MD Anderson Cancer Center have teamed up to create a health care leadership program to prepare the next generation of life science executives.

Rice Business and MD Anderson launch healthcare leadership program
Rice Business and The University of Texas MD Anderson Cancer Center have launched a new healthcare leadership program designed to help executives navigate the complexity of running healthcare organizations.


Rice Business and The University of Texas MD Anderson Cancer Center have launched a new healthcare leadership program designed to help executives navigate the complexity of running healthcare organizations.
The Executive Leadership in Healthcare program at Rice University’s Jones Graduate School of Business will provide an opportunity for current and emerging healthcare leaders across the country to learn in the Texas Medical Center, the world’s largest medical complex. The program brings together internationally renowned business school faculty, leaders in medicine and seasoned healthcare executives to provide evidence-based insights for leading healthcare institutions.
The demanding nature of the healthcare industry requires executives to implement strategies and operational processes that not only meet the needs of patients but also strengthen organizational performance. Over 10 days — Feb. 6-10 and April 24-28, 2023 — healthcare executives will learn about themselves as leaders and explore business tools and frameworks to help them become more impactful and effective within their organizations.
“In executive education, we have been supporting the development of healthcare leaders for over 20 years — it has been a fascinating journey,” said Brent Smith, senior associate dean of executive education at Rice Business. “We have learned so much about the challenges of leading institutions in such a dynamic and challenging industry and developed deep healthcare expertise. Our collaboration with MD Anderson allows our two institutions to blend our disciplinary expertise in healthcare strategy, leadership, operations and finance.”
“We are excited to work with our colleagues at Rice Business to provide a thriving and unique learning platform for healthcare executives to navigate the complex environments they are facing,” said Courtney Holladay, associate vice president of the Leadership Institute at MD Anderson. “We believe MD Anderson’s senior leadership and Rice Business’ faculty provide complementary expertise and perspectives on both the practice and theory of leading healthcare institutions that will benefit participants.”
“Staying connected to the business community and meeting the professional development needs of organizations both large and small are important to us,” said Michael Koenig, associate dean for innovation initiatives and executive director of executive education at Rice Business. “We’re excited about this initiative with MD Anderson and look forward to the impact our joint program will have on healthcare leaders and their institutions.”
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Creating Resources for Resiliency feat. Pierre Aristide ’22
Season 2, Episode 22
Pierre earned his Executive MBA from Rice Business and is the co-founder and CEO of Impireum Psychiatric Group, an adult, child and adolescent psychiatric practice. Fresh off of graduation, Pierre joins host Christine Dobbyn to discuss resiliency, his path before Rice including almost 30 years as a U.S. Air Force Reserve officer, coping with PTSD and making improvements to mental health treatment centers.

Owl Have You Know
Season 2, Episode 22
Pierre earned his Executive MBA from Rice Business in 2022 and is the co-founder and CEO of Impireum Psychiatric Group, an adult, child and adolescent psychiatric practice. Fresh off of graduation, Pierre joins host Christine Dobbyn to discuss resiliency, his path before Rice including almost 30 years as a U.S. Air Force Reserve officer, coping with PTSD and making improvements to mental health treatment centers.
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Episode Transcript
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[00:00] Intro: Welcome to Owl Have You Know, a podcast from Rice Business. This episode is part of our Pivot Series, where guests share stories of transformation in their lives and careers.
[00:14] Pierre: I tell my family, if it wasn't for Rice, I wouldn't be here today. Rice actually saved my life. Accepting me into the program and the support that I got, that it looks like it was meant to happen the way it did, but it was all a coincidence.
[00:28] Christine: Before becoming an entrepreneur, Pierre Aristide, Rice Business Executive MBA Class of 2022, was a U.S. Air Force Reserve officer and a rotary and fixed-wing pilot for almost 30 years. Today, he talks about his experiences in the military, project management and finance, and why he's so passionate about mental health and psychiatric care, and how his cohort was by his side as he battled one of his biggest challenges yet.
Joining us today on Owl Have You Know is Pierre Aristide, Rice Business Executive MBA Class of 2022. Thank you so much for joining us, Pierre.
[01:08] Pierre: Thank you for having me.
[01:10] Christine: Well, when it comes to alums, I guess we could say you are about as new as they come, just graduating. What does it feel like? How does it feel to be finished?
[01:19] Pierre: Well, it's been 24 days, slowly sinking in. In fact, I had the opportunity to talk to some of my former classmates and it seems like we are all experiencing the same thing. It's like the additional time that we have on our hands, we're, you know, still trying to figure out what to do with the extra time. So, everybody's going through this withdrawal for right now. But, you know, the good thing is we finished together, and it feels good, just onto the next journey.
[01:58] Christine: Well, congratulations. And I have a feeling you'll quickly find how to fill that time.
[02:02] Pierre: I'm trying to. I'm trying not to do too much and get overwhelmed.
[02:07] Christine: You started the program right in the middle of the pandemic. What was that experience like? And how did that really kind of shape your class? And I don't know, you know, how much you guys were in person versus virtual overall, but I'm sure that had an impact.
[02:22] Pierre: Yes. I mean, it was new to a lot of us. We started the Executive Forum was the first class, and it was all done online. Then, we went to a hybrid session, where some of it was online and the other part was in a classroom. It was a very flexible platform that they offered us, which was good. But it was a blessing in disguise at the same time because, throughout the program, especially around the second semester, I was diagnosed with cancer, and being able to do it on Zoom, having that hybrid flexibility really helped out. Had that not been put in place, I probably would not have been able to graduate with my class in May.
[03:10] Christine: Getting that diagnosis in the middle of such an, you know, intense program, how were you able to navigate and get through that? And what was the support like from the class?
[03:21] Pierre: It's almost like... I have to say it was a blessing in disguise, not the fact that I was diagnosed with cancer, but it was a blessing that, at the time when it happened, because I have to say I was at the right place at the right time to where I was able to receive the needed support to survive. Because the way my diagnosis was discovered, it was by accident. And it just so happened, when I was informed of it, it was so far into…you know, my body, I was told, had 96% of cancer. And it just so happened I was around the right people. Some of my classmates who were oncologists. They work at MD Anderson. They were able to step in and have me transition from where I was to MD Anderson. And within three months, they put me in remission, and I was able to go back to class. Almost like that same... at the end of the semester, I believe, I was able to attend class in person.
I tell my family, if it wasn't for Rice, I wouldn't be here today. Rice actually saved my life. Accepting me into the program and the support that I got, that it looks like it was meant to happen the way it did, but it was all a coincidence. I'm thankful that I was able to attend Rice at the time I was accepted.
[04:44] Christine: Well, we hear so much about the Rice network, but really, in the capacity of a professional setting. And in this case, the Rice network that you met through school had a tremendous personal impact and outcome.
[04:58] Pierre: It did. It did. It's interesting because, when I look back and look at the whole experience, you know, applying to business school, getting accepted at Rice, and meeting some of the folks that I had the blessing of meeting, and the experience, all of that just kind of shaped the kind of person that I am today.
If you'll ask me who I was prior to Rice, I would describe to you a whole different person. And the person that I am today through, I mean, two years of experience, I mean, all types of things—the pandemic, you know, cancer, and I can name a bunch of stuff—to be able to have been given the strength to navigate through all of them, understanding them, and responding to them instead of reacting, it is a blessing that it will leave you differently. It will leave you a different person, for the better.
In terms of resiliency, you know, there is a quote by Bob Marley. It's like, you'll never know how strong you are until strong is the only thing left, something left you have, you know. So, I never knew how strong I was until I started going through, you know, these experiences. And I quickly realized you are never given more than you can handle. Whatever you are given, the strength to negotiate that particular challenge also comes with the challenge. You just have to figure it out.
[06:30] Christine: Well, thank you for sharing that. And we're so glad that you're in remission and doing so well.
[06:37] Pierre: Thank you. Thank you.
[06:39] Christine: I want to go back to your path before Rice Business, quite an interesting journey that you had. I know that you were in the U.S. Air Force Reserves, 30 years you spent?
[06:54] Pierre: 27 years.
[06:55] Christine: 27 years?
[06:56] Pierre: Yeah, close to it, yes.
[06:58] Christine: So, can you talk a little bit about your time, your experience, and what led you to that path initially?
[07:06] Pierre: Well, I mean, it started when I was a kid, actually. I grew up in Haiti. And I remember when I was a kid, we lived about 40 minutes outside of the capital. And every day, we would watch planes fly over, leaving the airport going to the United States, either Miami or New York. And I was always fascinated about, you know, I'd never seen an airplane close, you know, real close. So, I never really gauged the real size and the true size of an airplane, right? So, it would fly over. In my mind, I'm thinking it's probably the same size of a car, but not understanding relative motion and distance and all of that.
So, I'd always say, "You know what? I'm going to learn how to drive one of those." And I remember one of my friends, my childhood friend, would say, you know, said, "You can't drive. It's a stick shift." I'm like, "No, you know, it's probably automatic. I'm sure they make them automatic, just like regular cars." We had no idea about the systemology. We're just make making up stuff, right?
So, fast forward, at 13, my parents were here before us. So, they sent for us. And I came here when I was 13. And one of the things that I always was fascinated with, not just flying, but joining the military. I wanted to be a soldier. You know, I watched a lot of movies where I wanted to be a soldier, right?
So, 18 come, you know, finished high school. I joined and enlisted, thinking like I'm going to go straight to flight school. And they were like, "Oh, no, you have to go to college, become an officer." But my recruiter didn't tell me that, right? So, I go in, four years enlisted. And I'm like, no, that's not what I want to do. I want to be a pilot. So, I went to Desert Storm as enlisted, came back and enrolled in college, and became an officer. And I selected aviation. And they actually, you know, selected me to go to flight school. I was just like, wow. So, I took the test, passed them, went to flight school. And I started out flying helicopters. And then, I was transitioning into jet, where I flew a variety of jets in the Air Force toward the end of my career.
But the interesting thing is, you know, my friend—my childhood friend—since passed away. And I remember running into him because I had an assignment in my home country to work with the UN. And while I was at the U.S. Embassy, I ran into him. And I told him, I said, "Hey, man, guess what? Man, I fulfilled the dream for both of us. I'm a pilot." He was like, "No, you're not." I said, "I am." And I said, "Guess what? It's nuts, they don't make them automatic or standard shift. It's a whole different system." He started laughing. He started laughing.
Yeah, so basically, it was a lifelong dream to become a pilot. And finally, when I got to do it, it was surreal because it didn't feel like work. I mean 27 years didn't feel like work at all. It was always... every day was fun, except, you know, when we had to deploy and go to combat and, you know, leave our families behind. But other than that, I enjoyed doing it. And if I had the opportunity to do it all over again, I would sign up and pack my bag and go to flight school all over again.
[10:32] Christine: That's how you know you found your true passion, if it never seemed like work.
[10:36] Pierre: That's true. You're absolutely right.
[10:39] Christine: So, let's talk a little bit about after the military, you worked at Verizon, and then also, Merrill Lynch. Can you talk a little bit about that transition and what led you there?
[10:48] Pierre: When I went back to the military, I ended up going into reserve. I didn't go back on active duty. So, I kind of like had the best of both worlds. I was flying in the reserve and I held a professional position in the private sector with Verizon. I spent a number of years there, started out as a business representative. And I was promoted a couple of times. And when I left, I was an associate director. And that's when I was recruited by Merrill Lynch to do the same thing that I was doing at Verizon. So, I was at Merrill Lynch for about two years around the... that's when they had the housing bubble on the burst in 2008.
And when that happened, I had the opportunity to go back in the military. They asked me to come in to fill some active duty slots. And that was at the height of the tours that were going on, the Iraqi War and Afghanistan. So, I was able to support the military in various positions, did some long-term tours in Afghanistan, ended up serving in Germany for a year where I was the... I worked in their logistics directorate. And my role was to go to Africa and negotiate contracts on behalf of an Africa command that was based out in Germany.
So, I got to visit Africa for six months, just going around. That was a beautiful experience. Came back, and I was stationed at the Pentagon, working for the vice chief of staff, developing a program with the Air Force called... at the time when we did it, it was called the Air Force Resiliency Program. And then, I did several tours with the military. Then, I went back into the private sector. At this time, I was recruited by a government agency, U.S. Office of Personnel Management. This is almost like the HR of the government. So, I ran one of the divisions. And then I was recruited by the Department of State to do the same thing for them. I was there for about three years. And I decided to, I guess, retire from the... not retire, but resign and pursue entrepreneurship. And that's how I got into Impireum Psychiatric Group.
So, with Impireum Psychiatric Group, well, I was diagnosed... because of the several tours at the military, I was diagnosed with PTSD. And with that came several visits, mental health treatment with psychiatrists, therapists and all of those. And while they try to do a good job to accommodate and treat us, I just felt like the experience could have been different. It could have been better, to better address... And I said better, not because they didn't have the resources, but I think the resources could have been managed differently to better assist us.
I understand there were a lot of people coming back from the war who needed help. And the system wasn't structured well enough to support all of those things. So, with my experience developing the resiliency program for the Air Force, because like the health and wellness program, I already had the idea and I had the resources available to create one in the commercial sector. So, I did some research and talked to my wife who's a psychiatrist. I presented it to her, and I created a plan and showed it to her. And she was like, "Let's do it." And we did it. And 2018 is when we started. And we have grown by almost 300% since we started.
Basically, Impireum Psychiatric Group is an experience. It's designed after the experience that I wanted to have when I was being treated for PTSD. And it's almost like a spa for mental health, because that's what I wanted to experience. I wanted to go somewhere where I could be comfortable to talk and don't feel awkward if somebody else was sitting there next to me, waiting to be seen.
So, when you show up to Impireum, what you see is a group of people who are happy to be there. And they're talking to each other, collaborating and sharing their experiences. And it's part of the treatment. From the time they seek us out to the time they are seen, it's the entire experience, is what we strive for — to have a great, positive mental health journey experience.
[15:34] Christine: And as co-founder, what have you learned from this experience, so far, from the actual patients who are using this service?
[15:42] Pierre: The first thing is the reviews, right? I read all the reviews. And the reviews reflect exactly the experience that I wanted everybody to have. If you ever go on our website, you read the reviews, it's exactly what I was shooting for. Of course, there's always room for improvement, right? But when I talk to patients, one of the things they tell me that, you know, sticks with me is that, I don't feel... I don't have to worry about the stigma anymore. Coming here, I feel I'm very comfortable coming here and talk my issues out. And I don't feel judged. I don't feel... and I don't know if other people do it, but it's designed to let them come in and be free to express themselves without feeling that there's something wrong with them. And that's a lot of feedback that I get from the patient.
[16:35] Christine: Well, I'm noticing a common thread here when you talk about the things that you've pursued. While your path certainly hasn't been linear, it seems like you've always really followed passion and projects that have a deep connection to something you enjoy or a cause that you feel a personal connection to.
[16:54] Pierre: Yeah. Thanks for bringing it up. I don't know how to be any other way. And I've always been like that. And it wasn't done on purpose. You know, I always felt like if you're going to... if something is worth doing, you should do it well. Everything I've ever done in my life had personal value to me. It wasn't... anybody who knows me will tell you I have that maverick personality. I don't follow the crowd. I take my value proposition very seriously. Anything that I do, if it doesn't have a good value proposition, I tend to rethink it.
Because of that reason, too, because I still understand what my purpose is most of the time, that it's hard for me to communicate it. I'll almost have to do it, and then explain it. Because, you know, we each walk around with our vision, with our own values. And sometimes, it's hard to communicate them. And it's sometimes hard for people to understand. Even in your execution, they still don't understand it until you fully are able to explain it. It's one thing I'm working on, but in reality, everything that I believe anybody undertake, it should be something that has a personal value. It's almost like taking care of a child. Every project is like a child to me. And I take that responsibility very, very seriously.
[18:25] Christine: So, in your work in mental health, do you feel that there is more... I know you talked about the way sometimes people feel when they reach out to get help or admitting they need help. Do you feel like the tide is turning a little bit? I know there's been a lot more attention, it seems like, on mental health, but what else do you see needing to happen to really... to get us to where we need to be?
[18:50] Pierre: I have to say that I've seen a lot of improvement in access to mental health. Although there's still room for improvement, people are taking it seriously now. They're actually seeking mental healthcare. I see the stigmas being reduced. Our purpose is to reduce the stigma in as much as possible.
Where I think it's going with mental health, particularly the business aspect of it, I see it moving away from fee-for-service to value-based care, meaning you don't go see a clinician, you know, for just this depression, there could be a lot of other issues surrounding the depression. However, if your insurance doesn't approve it, the provider can only treat that—the depression. Well, you can treat the depression all you want to, but the other underlying issues, if they're not taken care of, you're just going to keep seeing a mental health provider for the rest of your life.
So, what I say, what I think needs to be done, is to go, you know, from fee-for-service to a value-based approach where, okay, you come to us with an issue, right: depression. And we have to figure out where the depression... what's causing it. You know, we should be allowed to treat the entire person the way we see fit so they don't have to come back, so they can have a coping mechanism to go and deal with it and actually be healed from whatever mental health experience that they are going through. So, the one way... and I see a lot of providers trying to address it, I attended a seminar at the Washington campus around healthcare. And it's one of the buzzwords, value-based. Everybody's pushing for it.
So, healthcare, it's not an easy thing to fix. It's huge. It's probably one of the biggest industries out there. It's broken, yes. But how do you fix it? It's a question that everybody is asking. There's no panacea approach to fixing it. I just think that, on my end, as a practice owner, it is to try to guide the clinic in that direction in as much as possible, so when the time comes, you know, we just go ahead and run with it and take care of our patient in the way that they need to be treated.
[21:20] Christine: You've had a pretty broad career path before you came to Rice Business. What led you to pursue an Executive MBA at this point in your career?
[21:32] Pierre: Well, looking back at everything that happened, I would say Rice chose me, not because I'm good or anything, just, they rescued me, in so many ways. One, by allowing me to be part of their community, because I've been out of school for a while. And when I started the business, I have a lot of military leadership experience. I can look at processes based on my training. I can put an operation together real quick and make it successful if I have to rely... relying solely on my military experience, I can do that. However, I didn't have the business skills required to scale the business to where it would be as successful as it needed to be. And for that to happen, I needed to understand business. And the best way to understand business as an entrepreneur is to attend business school. And if you're going to attend business school and you want to learn entrepreneurship, Rice is the place to be. And to do it at the executive level, it's even gravy. You know what I mean? It's even better.
So, that said, it's one institution, I have to say…and I have spent 27 years in the military, going to different military educational programs. That is one of the most organized, rewarding educational experiences I've ever had. Actually, everything I've learned, I have applied in my business. What it did for me, too, it validated everything that I did. And also, validated things that weren’t too great as well, that I needed to improve on.
So, that experience has been different from anything that I've done. I didn't go there to be a specialist in anything. I didn't go there to be an accountant or, you know, data scientist or any other stuff, right? Because that's not my purpose. My purpose was to be able to do the same thing that I was doing in the military in the business world. And Rice has taught me that. It made me a little bit more dedicated to what I'm doing now, because now I feel like I know what I'm doing. And there's no room for failure because I have all the tools. And even if I don't know it, I can always reach out. I know people I can reach out to Rice to help me with everything. So, it's a great experience. It was a great experience.
[23:58] Christine: Do you have any advice you would offer, maybe, a current entrepreneur who is considering the Rice Business program?
[24:05] Pierre: My advice to anybody going to business school, go in there with a purpose. Don't go in there and try to follow what everybody else is doing. Don't go in there to fit in. Don't go in there to be known, because you went to Rice as a Rice alumni. Do it because you have a purpose. And that purpose will be your guiding light. That purpose, you will not deviate from that purpose. Everything that you learn is going to be towards helping you achieve that purpose. So, my advice for anybody going in, go in there with your purpose, and don't deviate. And understand that your opinion is only an opinion, that other people are going to challenge your opinion and be able to defend it. And if you can’t defend it, that tells you, you need to come with a better argument. It's not a place to compete. It's a place to collaborate, create allies. And through your alliances, you develop friendships. And if you leave business school and you don't leave with any friends, you don't make any alliances, that's fine. That's fine. So, don't beat yourself up. It doesn't mean anything. It's just, sometimes, when you focus on your purpose, it will take you in the direction that you need to be taken to achieve it. And sometimes, it means going alone. So, my advice is, you know, have a reason why you're going to a business school, not just because it looks good on your resume. Have a purpose, and the experience will support your purpose.
[25:42] Christine: That intent, yes.
[25:43] Pierre: Yeah.
[25:44] Christine: Well, is there anything else you would like to add that I haven't asked you about?
[25:48] Pierre: We're about to launch a new business. I have a good friend of mine. We went to college together, undergrad. We served in the military. And he owned Durato International. He is in the flooring business. He just reached out to me and asked me if I wanted to be his distributor in the Texas, West Coast, and the Midwest region. So, as of yesterday, we signed a contract. And I'm about to launch a distribution hub in Texas for Durato in the USA. It's going to be called Durato Texas.
[26:20] Christine: Wow. So, is this your official move into serial entrepreneurship?
[26:27] Pierre: I guess, if you have three businesses, yeah, the third one you consider it serial entrepreneurship. Actually, this is my fourth one. This is my fourth one, so—
[26:36] Christine: Oh, okay. Well, maybe you were there before this, then.
[26:38] Pierre: I don't know. At what point are you considering a serial entrepreneur? How many—
[26:43] Christine: That's a good question. Maybe, we should ask some of the faculty at Rice Business.
[26:49] Pierre: Well, actually, I am enrolling in a PhD program in Organizational Leadership and Entrepreneurship.
[26:57] Christine: Oh, wow.
[26:58] Pierre: So, maybe, that could be a question that I develop as my thesis.
[27:02] Christine: Yes.
[27:04] Pierre: At what point are you considered a serial entrepreneurship? How many businesses and what are the conditions around it?
[27:10] Christine: Right, right.
[27:11] Pierre: That's a good question to develop, yeah.
[27:13] Christine: Well, we want to thank you so much for joining us. You have accomplished so much and a real inspiration to those around you. And it looks like you've got a full plate ahead with all of your projects that you've got going.
[27:27] Pierre: Well, yeah. I'd like to thank before we go... Thank you very much. But I'd like to thank my team at Rice. We call ourselves the elephant eaters, right?
[27:36] Christine: Elephant eaters, okay.
[27:37] Pierre: Elephant eaters, so we like, you know, to eat an elephant one bite at a time.
[27:41] Christine: Yes.
[27:41] Pierre: I was part of a team that actually lived up to that model. I want to send a shoutout to Anup Shah, is an orthopedic surgeon who was part of our team. We have Michael Ellis. We call him Merlin, very wise man, very quiet. But when he spoke, he spoke value. He was the proxy leader of our team. And we had Einstein Mark Rooney, engineer, very dry humor. But he was a funny guy, even his dry humor. You know, he will tell a joke. And you're like, is he serious or is he joking? So, he kept us laughing a little bit. Also had Mike Simon, a very accomplished consultant. I mean, if you get a chance to meet him, you know you're talking to a consultant. I mean, he look at things from different angles and always come up with answers. We have Tiffany Umbehr. As a matter of fact, shoutout to Tiffany. Congratulations. She just got selected to become an executive vice president and managing director in a very prominent consulting firm. I can't remember the name right now. So, Tiffany, if you're listening, congratulations. And I think that's it on our team. I hope I didn't forget anybody. And then me. That's it. EMBA Class 2022, congratulations, everyone. You know, Keri and Luis for leading us, and Ragan Crowell for taking care of all our social events, along with Megan, and everybody else. Class of 2022 EMBA, one and only, would never be replaced by anybody else. Congratulations on making this happen. Thank you.
[29:26] Christine: Well, thank you for joining us today on Owl Have You Know, Pierre Aristide, Rice Business EMBA Class of 2022. Congratulations, again.
[29:36] Pierre: Thanks for having me, and looking forward to another invitation.
[29:40] Christine: Thank you.
[29:43] Outro: This has been Owl Have You Know. Thanks for listening. You can find links and more information about our guests, hosts, and announcements on our website, business.rice.edu. Please, subscribe to this podcast where you find your favorite podcast. And leave us a comment while you're at it and let us know what you think.
Owl Have You Know is a production of Rice Business and is sponsored by the Rice Business Alumni Board. The hosts of Owl Have You Know are myself, David Droogleever, and Christine Dobbyn.
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- STARS Technology is an original equipment manufacturer of compact, process-intensive hydrogen generators.
- Syzygy Plasmonics is commercializing a deep-decarbonization platform dedicated to cleaning up the emissions-heavy chemical industry using breakthrough technology pioneered in the Laboratory for Nanophotonics at Rice University to harness energy from LED light to power chemical reactions.
The 90 participating companies have raised more than $690 million in total funding and include technologies in battery and power storage, carbon capture utilization and storage, chemical manufacturing, climate financial tech, combustion, energy efficiency, fluid storage, grid, hydrogen, materials, mobility, oilfield technologies, renewable energies, software, waste heat recovery, water treatment and more.
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On April 14, Rice made history by hosting its inaugural Rice Day at the Capitol. More than 50 students, faculty and staff traveled to Austin for a full day of advocacy, education and celebration. The event served as a showcase of the university’s statewide impact in areas ranging from innovation to the arts and sciences.
You Can Do The Hard Things
Professional MBA '24 Emma Konet shares the reasons behind choosing to get a Rice MBA and reminds readers that, yes, you can do hard things.


I'm a big fan of [solidcore], which is a Pilates-style workout class that targets muscle failure; mind over matter, you're stronger than you think. The reason? Anything worth doing shouldn't come easy — we have to challenge ourselves to feel good about our accomplishments. Pushing ourselves to the brink of failure, sometimes even falling over the edge, is part of what makes us feel alive. We can do hard things.
How do we push our minds to the same limit in our daily lives at work? From kindergarten to college graduation, students are sponges for information. We spend our time constantly learning, contemplating complex ideas and evolving. This learning may even continue into the first few years of our working careers, where we often feel tossed into the deep end, treading water just to breathe. But what happens in year three or year four? We start to hit our stride and become comfortable, our work becoming rote and manageable — in short, we get bored. For many of us, a job change seems like the logical solution to this problem, and millennials are no strangers to job hopping. A different company or new industry glimmers with shiny new-ness to distract us from our boredom and give us something new to learn. Yet a few years later we may find ourselves in the same situation, yearning for something different.
One of the keys to professional success is to return to that "sponge" state, absorbing information and harnessing the power of our minds to effect change within the bureaucratic red tape that envelopes corporate America. This year, the company that I work for started offering a $10,000 annual budget for professional development per employee, which admittedly, is A LOT. But my company has a strategy:
- Employees are most productive when they are satisfied with their work
- People are satisfied with their work when they are challenged
- People challenge themselves when they are presented the opportunity to learn about things they care about
The spend is worth it.
Interested in Rice Business?
For my participation in the professional development program, I elected to allocate my funds toward tuition in the Professional MBA program at Rice. The true story of how I ended up here is because my eyelash technician mentioned the Rice MBA program offhand after listening to me prattle on about energy markets (bless her for putting up with me) week after week. One afternoon she finally said, "you know, you should really think about getting your MBA. What about Rice?" I went home that evening and started reflecting on all the reasons why a Rice MBA might actually make sense. I thought of all the people I've worked with whom I admire and whose jobs I covet; most of them have MBAs. Of course, I've always had a love for learning (if you can't tell by the theme of this article), and it was certainly appealing to get the opportunity to be back in the classroom. On top of that, my background is in chemistry and mathematics, so formal education in the subjects I didn't cover in undergrad, like accounting and finance, would shore up and round out my academic experience.
There were also other reasons in the back of my mind, ones that are less popular to talk about. I'm a woman in a male dominated industry. I'm young, and I have aspirations to build a company in the clean tech world. Some of the things I want to accomplish may be significantly harder without the degree. Of course, you get a great education and build your network at Rice, but the actual diploma would be an additional piece of leverage as I navigate through the world of venture capitalists and private equity. It's a signal of competence and grit, and sometimes demonstrating those qualities through work experience alone isn't enough. The diploma is validation, and I recognized that it may be more necessary for me than my male counterparts, as much as it pains me to write. Being an entrepreneur has its challenges, but being a woman entrepreneur in a male dominated industry requires constant corroboration of your value. Just as I use my undergraduate degree as a signal for my technical competence, the MBA signals business acumen. The simple truth is: the MBA will help.
After mulling it over for a few weeks, I was struggling to come up with reasons why I shouldn't go for an MBA. I ended up taking the GMAT because I was just shy of the work experience requirement for the waiver, and I actually recommend taking the test if you can. It gives you a good sense of what it's like to come home from work and study, which is what life is like during the PMBA program. I went to a few events on campus, garnered support from family, friends and work, and submitted my application in early spring.
Cut to the fall, and I've once again become a sponge. Arguably one of the biggest benefits of the PMBA program is that the concepts you learn in class are immediately applicable to your career (seriously, two weeks into accounting I got an email at work from our controller asking for clarification on a cost of goods sold adjustment). Aside from coursework, some of the most profound learning moments will come from your cohort — there are very few environments where you are free to discuss practical strategic decision-making across such a wide array of industries and experience levels. You'll do some mental gymnastics (or Pilates), and push yourself to your mental limits, but the reward is forthwith and tangible.
The MBA program at Rice is engineered to turn you into a life-long learner. The concept of workplace boredom will evaporate as your "sponge" state becomes your steady-state, and you'll forever challenge yourself with solving complex problems that you care about. #AdmitIt, and become a Rice MBA because you can do hard things.
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Takeya Green '22 urges MBAs to step up and take ownership. “In my student fund class, I did not apply for a leadership role because I felt I had too little finance experience to be successful. This is one of the biggest mistakes I made during my time at Rice."

How Companies Can Better Deliver Unexpected News
When to release the headline-breaking news and when to bury it.


Based on research by Jing Jin, Haiyang Li and Robert Hoskisson
When to release the headline-breaking news and when to bury it
- Firms release news strategically based on market reactions to mergers and acquisitions.
- After a strong market reaction, firms release more negative news, regardless of whether the reaction is positive or negative.
- People tend to have stronger reactions to unexpected news, so news that meets the public’s expectations of a company can go unnoticed.
According to Forbes, the volume of mergers and acquisitions in 2021 was the highest on record, and 2022 has already seen a number of major consolidation attempts. Microsoft’s acquisition of video game company Activision Blizzard was the biggest gaming industry deal in history, according to Reuters. JetBlue recently won the bid over Frontier Airlines to merge with Spirit Airlines. And, perhaps most notably, Elon Musk recently backed out of an attempt to acquire Twitter.
It can be hard to predict how markets will react to such high-profile deals (and, in Elon Musk and Twitter’s case, whether or not the deal will even pan out). But Rice Business Professor Haiyang Li and Professor Emeritus Robert Hoskisson, along with Jing Jin of the University of International Business and Economics in Beijing, have found that companies can take advantage of these deals to buffer the effects of other news.
The researchers looked at 7,575 mergers and acquisitions from 2001 to 2015, with a roughly half-and-half split between positive and negative stock market reactions. They found that when there’s a negative reaction to a deal, companies have two strategies for dealing with it. If it’s a small negative reaction, companies will release positive news announcements in an attempt to soften the blow. But when the reaction is really bad, companies actually tend to announce more negative news afterward. Specifically, companies released 18% less positive news and 52% more negative news after a bad market reaction.
This may seem counterintuitive, but there’s a method to the madness, and it all has to do with managing expectations. If people are lukewarm on a company due to a merger or acquisition, it’s possible to sway public opinion with unrelated good news. When the backlash is severe, though, a little bit of good PR won’t be enough to change people’s minds. In this case, companies release more bad news because it’s one of their best chances to do so without making waves in the future. If people already think poorly of a company due to a recent deal, more bad news isn’t great, but it doesn’t come as a surprise, either. Therefore, it’s easier to ignore.
It might make more sense to just keep quiet if the market reaction to a deal is bad, and this study found that most companies do. However, this only applies when releasing more news would make a mildly bad situation worse. If things are already bad enough that the company can’t recover with good news, it can still make the best out of a bad situation by offloading more bad news when the damage will be minimal. Companies are legally obligated to disclose business-related news or information with shareholders and with the public. If it’s bad news, they like to share it when the public is already upset about a deal, instead of releasing the negative news when there are no other distractions. In this case the additional negative news is likely to get more play in the media when disclosed by itself.
But what happens when people get excited about a merger or acquisition? In these cases, it also depends on how strong the sentiment is. If the public’s reaction is only minimally positive, companies may opt to release more good news in hopes of making the reaction stronger. When the market is already enthusiastic about the deal, though, companies won’t release more positive news. The researchers found that after an especially positive market reaction to a deal, companies indeed released 12% less positive news but 56% more negative news. Also, one could argue that the contrasting negative news makes the good news on the acquisition look even better. This may be important especially if the acquisition is a significant strategic move.
There are several reasons why a company wouldn’t continue to release positive news after a good press day and strong market reaction. First of all, they want to make sure that a rise in market price is attributed to the deal alone, and not any irrelevant news. A positive reaction to a deal also gives companies another opportunity to disclose bad news at a time when it will get less attention. If the bad news does get attention, the chances are better that stakeholders will go easy on them — a little bit of bad press is forgivable when the good news outshines it.
Companies may choose to release no news after a positive reaction to a merger or acquisition, the same way they might opt to stay quiet after backlash. They’re less likely to release positive news when stakeholders are already happy, preferring to save that news for the next time they need it, either to offset a negative reaction or strengthen a weak positive reaction.
Mergers and acquisitions can produce unpredictable market reactions, so it’s important for companies to be prepared for a variety of outcomes. In fact, Jin, Li and Hoskisson found that the steps taken by companies before deals were announced didn’t have much effect on the public’s reaction. They found that it’s more important for companies to make the best out of that reaction, whatever it turns out to be.
The researchers also found that, regardless of whether the market reaction was positive or negative, as long as the reaction was strong, companies could use the opportunity to hide smaller pieces of bad news in the shadow of a headline-making deal. Overall, the magnitude of the reaction mattered more than the type of reaction. People tend to have stronger reactions to unexpected news, though, so companies prefer to release negative news when market expectations are already low.
These findings are relevant beyond merger announcements, of course; they also point to strategies that could be useful in everyday communications. A key takeaway is that negative information is less upsetting when people already expect bad things — or when it comes after much bigger, and much better, news. Bad news is always hard to deliver, but this research gives us a few ways to soften the blow.
To learn more, please see: Jin, J., Li, H., & Hoskisson, R. (2022). The Use of Strategic Noise in Reactive Impression Management: How Do Market Reactions Matter? Academy of Management Journal, 65(4): 1303-1326. https://doi.org/10.5465/amj.2018.1054
Listen to Professor Haiyang Li Discuss the Research
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