Application deadline extended for the Professional and Executive MBA. Limited spots available. Apply now.

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The Washington Post

Companies, facing new expectations, struggle with pressure to take stand on Georgia voting bill

“A lot of companies follow the leader. They don’t want to stick out,” said Doug Schuler, a professor at Rice University’s business school who studies the intersection of businesses and public policy. “But now, it’s painful to stick out.”

April 2, 2021 | Todd C. Frankel, Jena McGregor, Candace Buckner and Steven Zeitchik


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The Wall Street Journal

Tech Companies That Won the Pandemic Are Snapping Up M.B.A.s

Peter Rodriguez, dean of Rice’s business school, said some of its M.B.A. graduates typically used to go to major energy companies such as Exxon Mobil Corp. Now, though, more of its students take jobs in tech than in energy, he said.

April 4, 2021 | Patrick Thomas


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Health.com

Can Your Employer Require You to Get a COVID-19 Vaccine? Here’s What to Know

“The EEOC’s guidance says that requiring vaccination does not violate the Americans with Disabilities Act or other federal employment laws,” Larry Stuart, an employment lawyer in the Houston-based law firm Stuart PC and an adjunct professor at the Jones Graduate School of Business at Rice University, tells Health. “It is not illegal to require employees to get a vaccine as a condition of employment.”

June 4, 2021 | Korin Miller


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Chief Executive

Don’t Be A Firefighter — Be A Strategy Leader

Why do so many companies come up short in their strategy planning and implementation? Because their CEOs end up playing the role of firefighter, implementer or counselor. Four years of intensive data analysis conducted by the authors has shown the three roles repeatedly emerge, deflecting from strategy and keeping CEOs from elevating their companies.

April 8, 2021| Vikas Mittal and Shrihari Sridhar


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Fortune

What is an MBA and when does it make sense to get one?

The MBA is also a good option for people looking to change from being a functional expert — say, an engineer — to a broader organizational leader, says Janice Kennedy, executive director of recruiting and admissions at the Jones Graduate School of Business at Rice University.

“Different aspects of a person’s career stage and long-term aspirations are all considerations in ‘why an MBA?’” Kennedy says.

April 24, 2021| Jordan Friedman


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Houston Chronicle

A look inside the Ion, Houston's new tech hub inside a converted Sears

Creating a central space for investors and companies will be crucial for bringing more capital to Houston’s nascent start-up scene, said Ryan LeVasseur, managing director of direct real estate at Rice Management Co., which is leading and financing the Ion.

May 12, 2021 | R.A. Schuetz and Shelby Webb


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Houston Business Journal

Meet Patra Isaac, a 40 Under 40 honoree who works to unite education and nonprofit endeavors

In 2012, Rice Business alum Patra Isaac made a career shift. She left the corporate world and entered the world of education and nonprofits. Last year, she joined the Kinder Foundation as director of education and community projects.

June 14, 2021 | Sara Samora


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Innovation Map

The way a workplace is structured can make or break business, Rice University research finds

In the first study of its kind, Rice Business Professor Siyu Yu joined a team of colleagues to explore how humans visualize the hierarchies to which they belong – and how that thought process influences group processes and outcomes.

July 20, 2021 | Rice Business Wisdom


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1985

Bruce Deskin ’85
Bruce and Rachel Deskin, both Class of 1985, are pleased to report that their son Thomas graduated from Rice Business in May 2021.

1989

Joann Barry ’89
Joann recently joined Northern Trust in Los Angeles as a senior portfolio manager, managing multi-asset portfolios for foundations and endowments. The practice is focused on supporting the missions of its nonprofit clients. As she expected, the people who are devoted to these organizations — executives and board members — are thoughtful and purpose-driven. It’s a pleasure to be of service to their good works, she says.

1992

Tarig Anani ’92
Tarig is celebrating 10 years of running his own legal practice. After working as a corporate lawyer in New York City, becoming general counsel to two software companies and ultimately becoming president of P2 Energy Solutions and selling it to a private equity firm, Tarig opened his own practice. Hard to believe it’s been 10 years. If anyone needs a lawyer, give him a call.

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Anani
Anani

Mark McMeans ’92
At the end of June, five of the old Flex Time program’s start class of 1990 got together to catch up. Good stories and wine were shared. Pictured here from the bottom, left to right, are Jim Havelka (Inform AI), Barbara Cooper (Cooper Associates), Dr. Bob Parke (Baylor College of Medicine), Eric Nielsen (Quantum Energy Partners) and Mark McMeans (Brasada Capital Management). Kudos to Barbara who has helped keep everyone in touch.

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McMeans
McMeans

1996

Andy Weber ’96
Andy has relocated his home and Corner Capital Partners’ headquarters to Austin from Santa Barbara, California. Drop by if you’re in the neighborhood!

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Weber
Weber

1998

Brian Engleman ’98
Brian has been chosen as the fund manager for this year’s San Diego Angel Conference. The fund’s primary goal is to activate angel investors while helping entrepreneurs understand what it takes to get funding (or “get to yes”). He has volunteered with the fund for three years and enjoys the group’s positive culture and the opportunity to help startups.

1999

James Vanreusel ’99
After traveling the world a bit, James now lives in San Francisco with his family and is a proud husband and father to almost 5-year-old twins. In 2014, he started a business called Vanreusel Ventures, a corporate finance CFO firm that focuses on helping fast-starting companies grow and scale at a CFO level. They focus on being an outsourced thinking partner to for-profit and nonprofit organizations that operate internationally by building teams and systems and strategies to expand with the business. James’ first book, “The #1 Key to Creating a Thriving Business,” debuted in 2018 and focuses on helping CEOs understand their financial foundation and transform their business from the inside out. Outside the office, James is a die-hard tennis player at the Olympic Club in San Francisco.

2000

Holly Davies ’00
When she wasn’t busy organizing over 1,500 homemade masks during the pandemic, Holly finished her MSW from the Graduate College of Social Work at the University of Houston in 2020. Now she is pursuing her Ph.D. there, researching mental health and natural disasters using quantitative and qualitative methods.

2002

John Montgomery ’02
In June, John was elected to the West University Place City Council, and currently serves as mayor pro tem. Professionally, John is in his fourth year with Alta Resources, a natural gas production company based in Houston, where he is currently vice president of commercial development and risk.

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Montgomery
Montgomery

2003

Danny Bullard ’03
A baby Eastern Screech Owl (Megascops asio) was born at the Bullard residence in Dallas this year. Danny and family put up owl boxes late last year, and by this February a breeding pair had taken up residence in the backyard box. By May, at least one new owl had appeared.

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Bullard
Bullard

2004

Galen Bingham ’04
Galen launched the Whiskey, Jazz and Leadership podcast, which is streamed in 17 countries on any platform you use to consume podcasts. In each episode, Galen and his guests share the whiskies they drink, the jazz music they listen to and insights to help you become more effective as a leader. Subscribe now so you don’t miss a drop of straight talk you won’t get anywhere else. Cheers!

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Bingham
Bingham

2005

Brett Chiles ’05
After working for a private equity fund and family office for the last 16 years, Brett joined local Houston commercial real estate firm NAI Partners in its newly formed Partners Finance capital markets group. Brett is responsible for sourcing equity and debt capital for NAI’s acquisition funds and development opportunities targeting the Houston, San Antonio and Austin markets.

2007

Victoria Cooper ’07
Victoria is working as a wealth advisor with Centric Wealth in the Houston area and in April became a certified divorce financial analyst professional.

2008

Enrique Zaragoza ’08
After more than 16 years at Riviana Foods with increasing responsibilities, Enrique was appointed president and CEO in January.

2011

Dylan Hedrick ’11
On May 1, Dylan was re-elected to serve a second term on the Garland, Texas, City Council in District 7. It was an interesting first term on the council dealing with tornadoes, the COVID-19 pandemic and February’s arctic blast, but he is proud of how the city pulled together through it all and is looking forward to serving another two years.

2012

Robert Knox ’12
Robert and Kelsey (Adams) Knox ’12 welcomed a new addition to the family this spring. Baby Alice was born March 30 at Cedars-Sinai in LA. Charlie Knox (Rice undergrad Class of 2039) is a proud big brother.

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Knox
Knox

Rachel Hedrick ’12
Rachel and husband James (Rice political science Ph.D., 2017) welcomed a new baby, Calvin Hedrick, on July 6, 2021. Big sisters Alice and Julia are thrilled with their new little brother!

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Hedrick
Hedrick

Jennifer Ortegon ’12
Jennifer was promoted to VP of healthcare at Medallia and celebrated her seven-year work anniversary. She is leading their go-to-market efforts in patient and employee experience for healthcare systems and insurers.

2014

Lauren Thompson Miller ’14
This spring, Lauren took a role as the VP of carbon footprint solutions for Grassroots Carbon, a soil carbon storage credit company founded by Rice Adjunct Professor Henk Mooiweer (and who she met while he was one of her judges at RBPC 2014!). She loves her new job, where she helps landowners get paid for good land management practices while helping companies reduce their carbon footprint. She and her husband, Jason, are imminently expecting their first child, and the discomfort of getting kicked in the ribs constantly has helped to quell the existential fear of keeping a small human alive.

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Miller
Miller

2015

Edgar Vargas-Castaneda ’15
Edgar has been promoted to senior director at EY-Parthenon, specializing in M&A strategy and execution.

Laura Messier ’15
Laura and Ben ’14 left investment banking and moved full time to Denver, Colorado, in March 2020. Laura is the head of finance - development for BPX Energy (BP) and is over capital planning, corporate strategy and FP&A for all upstream and midstream development in the U.S. lower 48. Ben is over corporate development and capital formation for Vitesse, a non-op company. They live in East Washington Park and welcomed their second son, John Mark “Jack” Messier in July 2021. They and their first son, Luke (2), are enjoying all that the nearby mountains have to offer.

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Messier
Messier

2016

Christine LeBlanc ’16
Christine founded a company for empowering women early in their careers. “Practical Girl’s Guide” offers an online course that teaches young professionals to get the opportunities and rewards they deserve at work. Applying her knowledge from climbing quickly at top Fortune 500s, Christine shares the keys to navigating difficult topics like corporate complexity and workplace politics in a practical and real way. Feel free to reach out at practicalgirlsguide.com or @practicalgirlsguide on Instagram.

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LeBlanc
LeBlanc

Nick Girardi ’16
Eliza Mae Girardi was born on July 12, 2021. Both Eliza and Caroline are happy and healthy, and big sister Jillian is only a little concerned about the family’s new addition.

2017

Raymond Ma ’17
Raymond was recently promoted to principal product manager at Amazon Web Services. He oversees product for AWS Organizations, a service that enables customers and enterprises to centrally manage all of their AWS accounts, as well as the broader multi-account strategy for AWS customers.

Ryan Stephens ’17
This fall, Ryan will be officially married to Natalie Rothenberg. The wedding date is Sept. 25, 2021.

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Stephens
Stephens

Gordon Pennoyer ’17
After nearly 10 years of leading corporate communications and investor relations at Chesapeake Energy Corporation, Gordon has launched DrivePath Advisors, a boutique financial communications firm specializing in helping companies navigate their most consequential events, challenges and opportunities.

2018

Kristin Collison ’18
In July, Kristin and Drew relocated from Oahu to Pensacola, Florida, where Kristin accepted a sales and service manager position with Gate Gourmet.

Daniel Barvin ’18
Daniel has taken on the role of director of strategic planning and operations at Coya Therapeutics, a clinical-stage biotechnology company developing first-in-class approaches utilizing autologous regulatory T cells (Tregs) and Treg-derived exosome therapeutics for neurodegenerative and autoimmune diseases. Their current focus is on ALS001, an autologous, expanded Treg cell therapy in development for the treatment of ALS.

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Barvin
Barvin

Sasha Gumprecht ’18
Sasha has taken a new job as vice president of business development and strategy at SJ Resources in Houston.

Kirk Waltz ’18
Kirk was promoted to environmental consulting director with the consulting firm ABS Group in July. He can’t wait to reconnect with his fellow alumni to help them with their environmental, ESG and risk management needs.

Andres Cuadrado ’18
Andres relocated back to Houston, starting a new franchise business as Crayola Imagine Arts Academy of NW Houston. The academy’s mission is to inspire children by developing their creativity and critical thinking through art. They envision a world where creativity and artistic expression are cornerstones of children’s development.

2019

Clifford Thompson ’19
Young Clifford just turned 1! What a year. So thankful for family and health during this time.

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Thompson
Thompson

2020

Kory Li ’20
Sandy Ma ’20 and Kory got engaged in April!

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Li
Li

Arianna Ebers Kucharski ’20
Arianna and Stephen welcomed their first child, baby boy Jackson Benedict Kucharski, on Jan. 3, 2021.

Dan Ramsay ’20
In March, Dan started a company with a friend of his. Things have been busy reaching out to clients, interviewing candidates and completing some early contracts.

Kyle Howard ’20
After taking on the role of chief operating officer at EnSiteUSA, Kyle and family have officially moved to Houston as of July. They can’t say enough about how welcoming the city of Houston has been for them, and they’re excited to be closer to the EMBA Class of 2020!

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Howard
Howard

2021

Noah Comisar ’21
Noah started an equity research associate role at Piper Sandler in Houston.

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Rocket Man

Julian Duncan ’06 is back in Houston as the Rockets’ new CMO.

Julian Duncan

Julian Duncan returned to his hometown of Houston this summer as the new chief marketing and strategy officer for the Houston Rockets. He was previously the chief marketing officer and senior vice president of social responsibility for the Jacksonville Jaguars.

Duncan is a double Rice alum: He played football as an undergraduate in the Class of 1999 while double-majoring in sport management and English, then went on to earn his MBA from Rice Business in 2006.

After leaving Rice, Duncan played football in the NFL Europe and the Canadian Football League, then returned to Houston for the first time as a business analyst in the energy field. He later joined Nike as their global brand director. During his time at Nike and later Under Armour, he promoted the brands of iconic athletes including LeBron James, Stephen Curry, Serena Williams and Dwayne “The Rock” Johnson.

“As a native Houstonian, it is a dream come true to have the opportunity to come back home and join the Rockets,” said Duncan. “I am excited to be part of an organization with such a rich history and to help build upon a brand that is endeared by Rockets fans across the globe.”

 

Investiture

Rice Business celebrated the Class of 2021 and 2020 at this year’s Investiture ceremony in May. The ceremony, which formally “invests” grads with their degrees, was held virtually in 2020 because of the pandemic, so this was the first chance 2020 grads had to walk the stage and receive their master’s hood from the dean. The ceremony was held in the Rice Football Stadium.

Click the buttons to view photo albums from the festivities.

Investiture (2020 & 2021)      MAcc Graduation

Investiture

 

Expanding Operations

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Amit Pazcal
Amit Pazcal
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Tolga Tezcan
Tolga Tezcan

Rice Business is expanding its operations management program due to growing demand from students and industry. This summer, the school launched a new operations management faculty group.

Amit Pazgal, the Friedkin Professor of Management at Rice Business, and Tolga Tezcan, a leading scholar in business analytics and operations management who joined Rice Business this summer from the London School of Business, will be the first two faculty in the new operations group. Three additional faculty are expected to be hired in the next year to further expand the areas of focus.

All of the school’s tenured and tenure-track professors are assigned to a faculty group. We previously had five groups: accounting, finance, marketing, organizational behavior and strategy-environment. On July 1, operations management became the sixth. Pazgal moved from the marketing group to the operations management group, but will retain a courtesy affiliation with the marketing group.

“Our operations management faculty aim to deliver a deeper understanding of a company’s competencies rather than a technical engineering view of operations,” said Jeff Fleming, deputy dean of academic affairs at Rice Business. “Tolga and Amit’s work will elevate Rice Business’ current offerings and pave the way for innovation in an expanding industry.”

 

New Alumni Program for the Classes of 2021 and 2020

In recognition of the effect the pandemic has had on the Classes of 2021 and 2020, Rice Business is introducing a new alumni program for these recent graduates. This dedicated initiative is designed to narrow the experience gap for new alumni and facilitate continued networking, learning and professional development.

Highlights of the program include complimentary executive education courses, audits of Rice Business MBA elective courses and more. The alumni office will offer additional professional and social networking events along with complimentary memberships to Rice Business Partners, the Rice University Faculty Club and the Petroleum Club of Houston.

Alumni from the MBA Class of 2021 will also have access to complimentary international immersion programming and to Doerr Institute for New Leaders programs, including Activation 1:1 coaching, Catalyst workshops, and CoachRICE training.

 

Riley Receives National Humanism in Medicine Award

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Dr. Wayne J. Riley
Dr. Wayne J. Riley

In June, Dr. Wayne J. Riley, MBA ’02, received the Arnold P. Gold Foundation National Humanism in Medicine Medal, which honors caring and compassionate mentors in medical school education. Riley, the president of SUNY Downstate Health Sciences University in Brooklyn, NY, was honored alongside Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, and Dr. Eric Topol, founder and director of the Scripps Research Translational Institute.

The prestigious award honored Riley’s leadership of SUNY Downstate when its teaching arm, the University Hospital of Brooklyn, was designated a COVID-only hospital in one of the U.S. hot spots hit hardest by the pandemic. It also recognized his advocacy for health equity and anti-racism in medicine. Riley sits on the New York Governor's Vaccine Equity Task Force and joined with other Black leaders to create a task force to ensure that the COVID vaccine was readily accessible to Black New Yorkers and to address concerns in Black communities about the vaccine’s safety. He was profiled in the Spring 2021 issue of Rice Business magazine.

 

Faculty News

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Barbara Ostdiek

Ostdiek Promoted to Full Professor

Barbara Ostdiek, the senior associate dean of degree programs at Rice Business, was promoted in May from associate professor to full professor of finance and statistics. As a faculty member here since 1994, Ostdiek has taught a variety of courses across all of the degree programs, most recently Portfolio Management and Economic Environment of Business; she also served for several years as the academic director of the El Paso Corporation Finance Center. Her research focuses on investments and asset pricing.

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Yan Anthea Zhang

Zhang Elected Strategic Management Society Fellow

Yan “Anthea” Zhang, the Fayez Sarofim Vanguard Professor of Management at Rice Business and president-elect of the Strategic Management Society (SMS), is a newly elected fellow of the SMS. Fellows are members who are recognized for significant contributions to the theory and practice of strategic management. “We are so proud that Anthea has been selected as a fellow of the Strategic Management Society. It’s a great honor, well deserved and a reflection on her leadership in the field,” said Rice Business Dean Peter Rodriguez.

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Jing Zhou

Zhou Named Academy of Management Fellow

Jing Zhou, the Mary Gibbs Jones Professor of Management and director of the Ph.D. program at Rice Business, was elected to the Fellows Group of the Academy of Management in May. The prestigious appointment recognizes members of Academy of Management who have made significant contributions to the science and practice of management. This distinguished group of scholars includes two retired Rice Business professors: Robert E. Hoskisson, the George R. Brown Professor Emeritus of Management, and Jennifer M. George, the Mary Gibbs Jones Professor Emeritus of Management.

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Vikas Mittal

Mittal’s Book Claims Amazon’s Top Spot

In a new book, “Focus: How to Plan Strategy and Improve Execution to Achieve Growth,” which claimed Amazon’s top spot in new releases on market research, Vikas Mittal examines barriers to effective strategy — and how to overcome them. Mittal, the J. Hugh Liedtke Professor of Marketing at Rice Business, and his co-author, Shrihari Sridhar, a marketing professor at Texas A&M University’s Mays Business School, present seven inhibitors of strategy effectiveness in companies large and small, along with research-based strategy enablers to fine-tune execution and rally stakeholders in a unified direction.

 

Pardon Our Dust

It was demo day for the old Business Information Center early in September: The former library is being rebuilt as the new dean’s suite, while the main reading room is being transformed into a community space for events. The BIC itself, meanwhile, moved to new digs in the old dean’s suite across the rotunda.

The rest of the second floor has been redone with new breakout rooms and a “collaboration zone” for students. It also has new carpeting and new tables and chairs throughout the halls. Among other improvements, the renovation added a Mothers’ Room, located in the restroom just outside the BIC.

The admissions office has also been fully renovated, with a new entrance off the east hallway on the first floor of McNair Hall. Earlier this year, the rotunda was redesigned and a new state-of-the-art video wall was installed outside the admissions office, while Classroom 116 was redesigned into a high-tech learning facility: the Judy Ley Allen Innovation Classroom. Previous improvements to McNair included the construction of Audrey’s coffee house, a new student lounge and conference room, and a new home for Rice Alliance.

McNair Hall Renovations

 

Fed Makes Headlines at Rice Business

In June, Rice Business Dean Peter Rodriguez hosted a conversation about the economy and monetary policy with Dallas Federal Reserve President Robert Kaplan and Rice Business alum Bobby Tudor ’82, chairman of Tudor, Pickering, Holt & Co. and partner at Perella Weinberg Partners. The virtual event, organized by Rice Business External Relations, was open to the entire Rice community.

Kaplan was upbeat about how the U.S. economy was bouncing back from the pandemic, and noted that the unemployment rate was falling.

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Fed

“I think it would be wiser sooner rather than later to begin discussions about adjusting our purchases with a view to taking the foot off the accelerator gently, gradually, so we can avoid having to depress the brake down the road,” said Kaplan, whose remarks were reported in Reuters and other news outlets.

“At this stage, as it’s clear we are weathering the pandemic and making progress, I don’t think the housing market needs the level of support that the Fed is currently providing,” he told Tudor and Rodriguez.

 

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Keeping the Lights On

Alums Doing Good

In the Congo, few people have access to reliable energy, and even fewer have access to formal financial services. Two Rice Business alums are working to solve both problems with one startup.

Installing solar panels
Thony and the team getting ready for a new installation
Alexander Gelfand

In the Congo, few people have access to reliable energy, and even fewer have access to formal financial services. Two Rice Business alums are working to solve both problems with one startup.

Though he was born in the Democratic Republic of Congo, Thony Ngumbu ’18 has spent most of his life overseas: first in Belgium, where he attended secondary school, and then in the United States, where he came for college. He started off in Iowa but transferred to the University of Houston, loved the city, and stayed.

Yet even as Ngumbu was building a career here, he always wanted to return to Africa.

“I didn’t know what I wanted to do,” he says. “I just knew that I wanted to make a difference, as naïve as that sounds.”

After working at Verizon for nearly a decade, Ngumbu helped lead a United Nations-funded NGO and started his own strategic consulting firm. Ultimately, however, his path did lead back to the Congo. And he is making a difference.

While at Rice, Ngumbu joined up with a classmate, Fareen Elias ’19, and together they founded Mwinda Technologies. It’s a startup with a dual purpose: hooking Africans up to affordable, reliable solar power and connecting them to financial services.

“We want to be an energy access company, but also a financial inclusion company,” he explained via video chat from his office in Kinshasa, the Congolese capital.

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Thony and the team getting ready for a new installation
Thony and the team getting ready for a new installation

In the Congo, only 9 percent of the population has access to the electrical grid — when it works. “The grid is very prone to blackouts and brownouts,” says Elias. “It’s so unreliable, it’s like not having one at all.”

And while smartphones are ubiquitous, only 6 percent of Congolese have access to formal financial instruments such as bank accounts.

From a developmental and environmental perspective, these are serious problems. In a country of approximately 90 million people, most are confined to a cash economy. Lacking the capital or credit to invest in the hardware required for solar power, they are forced to rely on dirty energy sources like kerosene generators and cooking charcoal.

But Ngumbu saw possibilities. “These problems are really business opportunities,” he says. “You just need the right model.”

He appears to have found it. Ngumbu, Elias, and their fellow co-founders launched Mwinda by offering solar home kits to some of Kinshasa’s 15 million residents. These small kits can power an LED television or several lightbulbs, helping bars attract customers, letting medical clinics keep their lights on during blackouts, and allowing children to do their homework after dark. (Mwinda means “light” in Lingala, the most commonly spoken local language.)

Crucially, they are available on a pay-as-you-go basis: Rather than purchasing the kits upfront, customers make incremental payments on a daily, weekly, or monthly basis via their smartphones. (As in many parts of Africa, individuals can load cash into mobile wallets on their devices, then transfer funds without a bank account.)

Contracts are flexible, and once they are paid up, customers own the kits outright. Over a typical two-year contract period, a customer will pay approximately $720, or roughly $2 a day — the same or less than most were already spending on dirty energy.

Ngumbu received early-stage mentorship through the Rice Alliance for Entrepreneurship, and he and Elias were finalists in the Napier Rice Launch Challenge at the Liu Idea Lab for Innovation and Entrepreneurship. But convincing investors to fund a startup in a country with a reputation for political instability proved impossible, and the co-founders had to bootstrap their initial operations.

“We got a lot of, ‘I don’t invest in Africa. It’s too risky,’” says Elias, whose parents hail from Kenya. Yet demand for solar proved so high that the team revised its business plan almost immediately. Mwinda was originally going to pivot toward larger, custom-built hybrid solar systems that can switch between the grid and solar power in its third year of operations. But customer inquiries about hybrid solutions, which can power everything from offices to schools, persuaded Ngumbu to make the leap in year one. Mwinda has since installed hybrid systems in several hospitals across Kinshasa, some under contract to the British government as part of a pandemic relief effort.

In keeping with the company’s commitment to financial inclusion, Ngumbu is working with local lenders to arrange financing for hybrid systems. He also plans to leverage the data that Mwinda collects from customers to develop a method for predicting a person’s creditworthiness even in the absence of a formal financial track record.

In time, Ngumbu intends to create solar mini-grids that can power entire neighborhoods. And he wants to export Mwinda’s model to other parts of the continent: Approximately 600 million Africans lack electricity, and 1 billion lack bank accounts. “We would like to become a pan-African multi-utility company,” he says.

Toward that end, he has launched a marketing campaign to grow Mwinda’s hybrid business and help the company raise capital stateside. In the meantime, hearing customers say that Mwinda’s reliable and affordable solar solutions are “almost heaven-sent” is enough to keep him and his teammates energized. “That motivates you to say, ‘We need to keep going. We need to do more of this, and we need to do it better,’” he says.

Alexander Gelfand is a freelance writer based in New York City who often covers business, science and social justice.

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Features

The Rice Business Plan Competition and the Napier Rice Launch Challenge saw record numbers of participants this year.

Rice Business Plan Competition 2021
Rice Business Plan Competition 2021
Deborah Lynn Blumberg

Both the RBPC and the Napier Rice Launch Challenge saw record numbers of participants in virtual formats this year.

One team aimed to prevent infections from medical implants. Another tackled the issue of affordable housing. In its second virtual year due to COVID-19, the Rice Business Plan Competition (RBPC) drew its highest number of participants ever: 54 startups from around the world.

Entrepreneurs vied for more than $1.6 million in prizes during the 21st year of the world’s largest and richest student startup competition, hosted by the Rice Alliance for Technology and Entrepreneurship. The event has grown considerably since its first year, when nine teams competing for just $10,000 in prize money. To date, the RBPC has helped entrepreneurs raise $3.16 billion in funding. Of the more than 700 program alumni, 257 of their startups are still in business or have had a successful exit.

Prizes this year included a combined $75,000 in new funds pledged from the Urban Capital Network and the Business Angel Minority Association. During the four-day competition in April, entrepreneurs networked virtually with both investors and each other, and gained valuable insights and tools to help develop their startups.

“We wanted to mirror the in-person competition as much as possible, and we learned some good lessons from 2020. I was worried people would be ‘Zoomed out,’ but there was high engagement this year,”

says Catherine Santamaria, director of the RBPC. 

There were also a record number of applicants for this year’s annual Napier Rice Launch Challenge, Rice’s internal startup competition, hosted by the Liu Idea Lab for Innovation and Entrepreneurship (Lilie). The competition was virtual, too, and for the first time, it was split into student and alumni tracks.

“We separated it this year because there was so much interest,” says Lilie entrepreneurship program specialist Paget Kern.

Virtual Networking

The Rice Business Plan Competition kicked off with the usual lively elevator pitch session, where entrepreneurs deliver a 60-second plug for their product or service.

Typically held in a packed auditorium at Rice Business, this year’s session was presented via video. Entrepreneurs filmed themselves pitching and the organizers stitched the clips together into a video they webcast. Judges watched live, then rated the pitches. One benefit of going virtual was that more people were able to participate, including a larger, more diverse group of judges, Santamaria says.

Each team also participated in an initial sector-specific round where they gave a 10-minute pitch over Zoom, followed by a 10-minute Q&A. This year’s RBPC included three new sectors: consumer products and services, hard tech, and digital enterprise.

Throughout the competition, organizers provided opportunities for networking. Using the Whova event management platform, participants linked up to socialize in groups and one on one. The startups also hosted virtual booths where judges, investors and other entrepreneurs could drop by anytime.

“We needed a space where we could have these kinds of random collisions,” says Santamaria.

The two top-scoring teams in each sector progressed to the semi-finals. Ultimately, seven teams made it to the finals on the morning of April 9. The prize announcements were live-streamed to an audience of nearly 1,000 viewers.

The connections Thomas Healy made when he competed in the 2015 RBPC are still with him today, he says. Healy is the founder and CEO of Hyliion, which produces electrified powertrain systems for commercial vehicles, and which was the first company from the RBPC to go public. It’s now trading on the New York Stock Exchange. “The Rice Business Plan Competition is an amazing place to lay a foundation for creating your startup,” he said. He advises participants: “Stay in contact with everyone you meet, because they are the people that can help you with the journey that you’re on.”

A Startup That’s All About Convenience

An Auburn University startup, SwiftSku, was the RBPC’s grand prize winner this year. The brainchild of Auburn mechanical engineering students and childhood friends Mit Patel and Daniel Mazur, SwiftSku is a mobile application that lets convenience store owners remotely manage and monitor their businesses from their smartphones;

The duo impressed the judges with their story and their product. Patel’s parents are immigrants from India who saved for years to buy their own convenience store. Patel and Mazur are committed to helping bridge the data gap between brands, retailers and consumers through a novel analytics platform. “We bring big data and analytics to convenience stores and power them to compete against the big box stores of the world,” Mazur says.

Image
RBPC 2021 Winners, SwiftSku

The U.S. is home to 153,000 convenience stores, with 96,000 independently owned. Of the independents, 93% are run by Indian immigrants, many of whom face a language barrier — including Patel’s parents. He used to play the role of translator between his parents and their vendors. The SwiftSku app helps with that hurdle, connecting point-of-sale systems at convenience stores and providing customer support in Hindi, Gujarati and English.

SwiftSku won $432,667 in cash and other prizes, including the $350,000 GOOSE Capital Investment Grand Prize and the $50,000 Business Angel Minority Association Investment Prize. The grand prize also included the opportunity to ring the closing bell at the Nasdaq Stock Market in New York. RBPC prizes add to the $3.2 million Patel and Mazur recently raised as champions of the Auburn Tiger Cage Competition. With the money, they’ll be able to hire additional engineering talent and grow their sales team, they say.

The startup’s goal now is to expand their client list, from just over 200 convenience stores now to 5,000 by May 2022. “We’re pushing it,” Mazur says. “It’s all about carrying the momentum we have and keeping that growth on track.”

An MIT startup, AgZen, took second place with a total of $538,667 in individual prizes, including the $300,000 OWLs Investment Prize and the $100,000 Houston Angel Network Investment Prize. The startup has developed a field-tested and patented pest control spray that reduces pesticide usage by 50%.

Napier Rice Launch Challenge

The Napier Rice Launch Challenge held its student competition in April and its alumni competition in June.

A record number of current students applied this year: 85, nearly double last year’s number. More than 400 people watched the April competition on Zoom. The first place winner, RUTD: Resources United Technology Driven, won $27,500 to put toward its app, which works to connect veterans with resources to reduce the risk of veteran suicide. A group called Green Room placed second, with tools to power the local live music industry. In third place was another musically focused team, called A440, which developed a content distribution platform for the classical music industry.

The June alumni competition attracted 48 applicants, four times as many as in 2020. First place winner Starling Medical won $20,000 to develop a safer, smarter alternative to traditional urinary catheters for people with neurogenic bladder dysfunctions. CaseCTRL took second for its intelligent surgical case management system, and Koda Health was third with a medical care planning platform.

Both the Napier Challenge and the RBPC are scheduled to be in person in 2022, and organizers are eager for participants to come together again for face-to-face networking. But they’re also looking keeping some virtual elements to allow for greater participation from people around the world.

“Everyone is just very excited to be back in person,” says Santamaria. “They miss their friends and colleagues and the excitement of an in-person event. But we’ve shown that we can adapt and pivot, and there are benefits and opportunities in having a hybrid event.”

Deborah Lynn Blumberg is a Houston-based freelance writer specializing in health and wellness and business and finance.

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Raisha Smith ’22

Impressions

How a Rice Business MBA is helping Raisha Smith '22 take her career to new heights

Raisha Smith
Raisha Smith
In the Rice Business MBA program, everyone’s learning. I’m learning from my peers; my peers are learning from me. I always appreciate the openness my classmates have to my insights and my experiences as a woman of color.

Raisha Smith, FTMBA ’22

 

When Raisha Smith founded EveryDopeGirl in 2018, she was feeling down and burned out. She was managing high-profile projects at work, but she wasn’t getting a lot of professional recognition. She felt underappreciated. But she knew she wasn’t alone in that feeling. So she started blogging about women who were doing interesting side hustles and pursuing their passions beyond their day jobs.

“I wanted to highlight projects most people don’t hear about and women who don’t really get their flowers in public,” says Smith. “EveryDopeGirl shows that you can still be dope and work at the same time.” The social enterprise became her own side hustle: building a community that empowers women entrepreneurs through in-person and virtual events, and giving them exposure and access to new opportunities through corporate partnerships with companies including Google and Verizon.

Smith, who has a bachelor’s degree in marketing from Texas A&M University, decided to pursue an MBA in part to help her make her own professional pivot from the energy sector into tech. The Rice Business network helped her get an internship at Microsoft this summer, where she worked as a customer success manager with clients in K-12 and higher education.

“One thing I really like about the customer success side is taking a community-building approach. We’re looking at ways to lead through peer-to-peer influence and getting feedback directly from the customer that can translate into new designs,” she says. “I love making an impact. That’s why I’ve loved my time at Microsoft.”

 

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David Akpakwu ’23

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What David Akpakwu ’23 is gaining from the MBA program

David Akpakwu
David Akpakwu
As someone who has spent the last eight years of my career in Houston, I have always known Rice Business as a top-tier institution with an intimate class size, a very successful alumni network and numerous post-MBA opportunities in energy, technology and consulting.

David Akpakwu, FTMBA ’23

 

Growing up in Lagos, Nigeria, David Akpakwu was drawn to petroleum engineering. For one thing, his father — the first in his family to have a formal education — was an engineer. And it was an especially meaningful field in Nigeria. “I saw it as a way to give back to a country that depended heavily on revenue from oil and natural gas,” he says.

After earning his bachelor’s degree in 2011, Akpakwu got the chance to live and work in the U.S., and ultimately became a citizen in 2017. His engineering career took him to onshore and offshore oil exploration sites, where he worked to identify hazards and keep workers safe. Over the years, however, he became fascinated with the technological innovations that helped him do his job, and decided to pursue software product management. He earned a master’s degree at the University of Louisiana at Lafayette and then made the pivot into consulting at Accenture. An MBA from Rice Business will equip him for the next phase of his career, which could take two different paths. On the one hand, he’s interested in helping lead the way toward renewable energy at a supermajor oil company. Or he may continue down the software path at a tech company where he could lead the creation of new technology solutions.

“An MBA, for me, is a career accelerator that opens doors to different opportunities. That’s because you not only get to build a strong, diverse network of professionals from around the world, but you get immersed in a rigorous business curriculum designed to prepare you for real-life business challenges,” he says.

 

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Managing Change

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Jennifer Latson

We’re back on campus, after a few surprise twists.

Just when it seemed like “normal” was right around the corner, COVID threw us for another loop — and then another.

Because the vast majority of Rice Business students, faculty and staff were fully vaccinated by summer, most of us enjoyed a respite from masks and distancing until late July, when the Delta variant hit. And it hit Houston especially hard. As always, our top priority is to keep every member of the Rice Business community healthy, and especially to protect the most vulnerable among us: people with compromised immune systems or who are caregivers for people with underlying health conditions, elderly relatives or unvaccinated children. The precautions we thought we’d left behind re-emerged as we began the fall semester in person, but wearing masks and staying socially distant indoors to guard against this fast-spreading variant.

Then came another unwelcome surprise. As Rice prepared to welcome incoming freshmen to campus on Aug. 13, the university’s testing program had begun ramping up again, and over the course of a week or so, about 4,500 people were tested. Alarmingly, 81 of those tests came back positive. That positivity rate, roughly 2 percent, was much lower than the surrounding community, noted Kevin Kirby, the chair of Rice’s Crisis Management Advisory Committee. “The average [for the same period] for Texas Medical Center testing is about 15%, and for the entire city of Houston it’s more than 20%,” he wrote in an Aug. 22 email to the school. “But for Rice, a 2% rate would be significantly higher than our historical positivity rate of 0.24% over the last year, when we ran about 150,000 tests.  This unusual campus positivity rate prompted us to take quick action and assume a more cautionary posture until we could determine whether there was a significant risk of widespread infection.”

Administrators scrambled to make undergraduate classes entirely remote for at least the first two weeks of classes. Rice Business, meanwhile, petitioned for an exemption from the online-only rule, since our students do not live on campus, and since we’ve successfully offered in-person instruction during earlier stages of the pandemic, equipped with safety precautions including testing, masking and social distancing. The provost granted that exemption, allowing us to proceed with a hybrid model, meaning some students attended classes in person (masked and distanced) while others attended online via Zoom.

But as it later emerged, the high positivity rate on campus was an anomaly caused by a glitch in testing protocols. “Those results didn’t seem right for a number of reasons: Over 90% of the positive infections came from a single test provider; three-quarters of the positive tests were from people who reported no symptoms; the positive results were widely scattered across various groups in our population, with only one potential cluster that seemed more likely to be associated with their proximity to a particular testing location; and over 90% of the reported infections were for people who were fully vaccinated,” wrote Kirby. “When we consulted with the provider, we learned that they had begun using a different protocol than they had previously used at Rice, resulting in significant differences in how test results are decided.”

“Dozens of people whose initial tests showed them to be COVID-positive have been retested twice and all but one of those have turned out to be negative,” Kirby said. 

Undergraduate classes remained online-only through September 3, since students and professors had already made plans, and Rice Business kept its hybrid model in place for those two weeks. Students took the latest change in stride.

“The students who returned to campus to experience the hybrid delivery in McNair Hall have demonstrated tremendous gratitude, resilience, and attention to the required safety protocols,” said Adam Herman, executive director of the Student Program Office. “Both the students on campus and at home on Zoom are particularly grateful to the faculty who have pivoted quickly to deliver the best in business education, again through hybrid delivery, and to the Rice Business staff who are keeping everything running.”

Now we are all back on campus, with additional precautions in place. That means that, for now, everyone, regardless of their vaccination status, is required to wear a mask indoors while other people are nearby. And everyone who comes to campus is undergoing regular COVID testing. For vaccinated people, that means weekly tests; anyone who’s not vaccinated must be tested twice a week. Our high vaccination rate and our adherence to these protocols has kept people safe on and off the Rice campus.

By this point, we’ve fully mastered the art of the pandemic pivot. COVID has proven to be remarkably adaptable — but we’ve shown that we’re even more so.

“This stage of the pandemic, like earlier stages, has resulted in quick changes as new information comes out. If you’re starting to get whiplash from the sudden reversals, you’re not alone,”

Rice Business Dean Peter Rodriguez wrote in an email to the community after announcing the switch to a hybrid course delivery model.

“Although we hoped to be nearing the end of this crisis, it has not yet subsided. And in times of crisis we need to be adaptable and flexible. You have been, and I appreciate it immensely. I ask for your continued patience and understanding as we navigate this new — and hopefully final — leg of the marathon we’ve been running for more than a year now. We will reach the finish line together.”

 

Response To COVID-19

For the latest updates on our pandemic response, visit business.rice.edu/coronavirus.

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Back to Work

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Jennifer Latson

Returning to the office won’t be a smooth transition for everyone. Here’s how to make it easier.

The potted plants are dead and the office fridge has become a science experiment. Many white-collar workers were fortunate to work from home during the pandemic, safely away from colleagues and their droplets. Now, nearly 18 months after saying goodbye to cubicle life, many of us are trickling back to the office. Although the rampaging spread of the delta variant has delayed the return of workers at some large companies, including Amazon, Google and Lyft, others, such as J.P. Morgan Chase and Goldman Sachs, are proceeding with office reentry as planned. It hasn’t been a joyful reunion for everyone, and not just because it has meant finding the ossified remains of the banana we left on our desk in March 2020.

I returned in July, with mixed emotions, to the Rice University campus, where I edit the alumni magazine for Rice’s Jones Graduate School of Business. On the one hand, the 1,000-square-foot house I share with my partner and our 18-pound cat has felt increasingly cramped with the three of us always in it, especially when one of us yowls for attention and pukes on the rug. So I was looking forward to coming back to an actual workspace with limited yowling.

But there were drawbacks. Out of practice, I took forever to get ready for work. The commute felt interminable. And as my colleagues and I soon discovered, nearly all of the office electronics had inexplicably broken down during our absence. The printer wouldn’t print; the fridge wouldn’t refrigerate. I found myself missing the comforts of home. And my cat.

Experts say I’m not alone in having reservations about returning to the office. For some, remote work provided perks they don’t want to give up. For others, a year of working from home was a slog, and they’re burned out. For all of us, the COVID-19 pandemic was a traumatic experience, and it will take time to get back to “normal” — which may never look the same. So how can managers better manage the return to in-person work for employees who may not be thrilled to be back?

First, acknowledge that this is a tough time — for everyone. Psychologists know that periods of transition are the most stressful moments of our lives. “Change is hard,” says Mikki Hebl, a professor of psychology and management at Rice’s Jones Graduate School of Business. The pandemic has upended all of our lives, whether or not we or our loved ones got sick, due to isolation, lost jobs, food insecurity or just plain uncertainty.

At the same time, we’ve also gone through what Hebl calls a racism pandemic, with high-profile acts of violence against Black and Asian Americans. “The effects are certainly worse for Blacks and Asians, but research suggests members of every racial group have heightened stress regarding racial tensions,” she says.

The twin pandemics combined have taxed the mental health and coping skills of all Americans. “When that happens, people start acting defensively and in their own self-interest,” Hebl says. “A smart manager will, first, understand the problem; second, address it; and third, give space for conversation and coming together.”

Don’t assume you know what your employees are going through — or that their anxieties are the same as yours. For example, a new survey from Project Include, a nonprofit that advocates for diversity and inclusion in the technology industry, revealed that workplace harassment paradoxically increased while people were working from home during the pandemic. More than a quarter of respondents experienced more gender-based harassment and 10 percent experienced more race-based harassment while working remotely.

Ellen Pao, Project Include’s CEO, said the survey’s results show how deeply rooted discrimination has been in our workplaces since long before the pandemic struck. “There was a lot of sexism, transphobia, xenophobia and all sorts of systemic bias in the tech sector, in business sectors generally, and in individual companies. COVID made it worse — COVID didn’t magically solve those problems,” Pao said in an interview with Charter, a media and services company focused on the future of work. “The big learning we had is people will harass people and be hostile to people no matter what the environment. They will find a way.”

Workers who are experiencing harassment will be even less likely to look forward to reuniting with their coworkers in person, a situation managers need to be ready to defuse, Hebl says.

“They should be open and available to hear about traumas their employees are experiencing, from COVID-related deaths in their family to trauma related to ‘working while Black,’” she says.

“They should allow for check-ins about how people are doing — what psychological spaces they are in and where else their mind might be.”

Understanding these issues, and showing compassion, will go a long way toward easing the transition back to the office, says Boris Groysberg, a professor of business administration at Harvard Business School. “As the COVID-19 pandemic starts to wane, we cannot expect to wake up one day and find our lives miraculously restored to what they were in pre-pandemic times. We will all be forever changed by this experience, and the transition to a post-pandemic world will be a slow and rocky one,” Groysberg said in March.

The pandemic has dragged on for so long that we’ve all had plenty of time to acclimate to our new normal, which for many of us included remote work. So even if working from home was difficult at first, we’ve fully adapted to it by now, says Kate Sweeny, a psychology professor at the University of California, Riverside. That has made returning to our old offices an unfamiliar and potentially uncomfortable prospect. But there are ways to manage the anxiety that comes along with uncertainty. “It helps to plan ahead to gain a sense of control over an uncertain future,” Sweeny says. “Second, you can look for the good in returning to work. Are there coworkers you’ve missed? Old routines that will be a welcome relief?”

Managers can help ease the transition by allowing workers to ramp up to their pre-pandemic office schedules, perhaps by working in person a day or two a week to start. And companies should consider building in more flexibility for employees who need it even after the pandemic is well behind us, Hebl says. The world is a different place now — and so are workplaces.

“We can’t just go back to two years ago and pick up where we were. Our world, our workforce has changed. And some of it will ultimately evolve into changes for the better,” she says. “For instance, many individuals — let’s take individuals with physical disabilities and new mothers, who often get only two weeks of unpaid leave to care for their babies, as examples — should have long ago been given greater flexibility, support and pay to work from home. Shorter workweeks, job sharing and flex work are temporary strategies that worked well during the pandemic and should not be abandoned as possible ways for organizations to be flexible.”

Many caregivers and people with disabilities saw the opportunity to work remotely as a silver lining of the pandemic. Take Ruby Jones, a British disability activist who has a connective tissue disorder called Ehlers-Danlos syndrome, which limits her mobility. She created a Twitter hashtag, #MyAccessiblePandemic, to highlight the ways the pandemic improved accessibility for disabled people. “Working from home means I am able to work a full-time job without exhausting myself to the point of hospitalization,” she tweeted.

A chorus of other voices chimed in, including people with physical disabilities and mental illness. “WFH means I can adjust my sleep/awake schedule as necessary to match my chronic fatigue cycles,” one person commented. “I've been able to attend really interesting talks, events and conferences I never would have been able to manage in person. I can switch my camera off if it gets too much and been able to type questions when my anxiety is high rather than have to speak,” tweeted another.

Some of the lessons we learned during the pandemic could help us create more inclusive workplaces for the future, Hebl says. We can do that by combining some of the highlights of our old normal — such as connecting with coworkers and exchanging ideas face to face — with a new normal that includes compassion and accommodation for those who need more flexibility to succeed. And flexible schedules for everyone could mean we all get to spend a little more time with our cats, for better or worse.

Cat by the computer

Jennifer Latson is the editor of Rice Business magazine and the author of “The Boy Who Loved Too Much.”

This essay originally appeared in the Houston Chronicle.

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