CIMBA Newsletter

April 2010
In This Issue
CIMBA Undergraduate
Executive Programs
Al's Book Club
Meet the Alumni

Walter Garbuio lives in Milan, with his wife, Dina, and their two children -- Giovanni, who is four, and Aida, who is one.

When did you graduate from CIMBA?
I graduated from CIMBA in 2000.  My class was quite diverse, with students from the US, Japan, China, Canada, Mexico, Turkey, Italy, and Slovenia.
How has CIMBA affected your life, professionally and personally?
After graduating from the CIMBA program, I went to work for a small boutique investment company in Italy (Finanziaria Internazionale). I would have never had that opportunity had it not been for my CIMBA education and experience. My initial position at the firm was as analyst. I was quickly immersed in the world of structured finance, principal finance with a particular focus on securitization.

After two years spent in Finanziaria Internazionale, I moved to the largest bank in Italy (Banca Intesa) and thereafter I moved to Calyon as Head of Public Sector Structuring. After almost ten years of working experience, I decided to set up my own advisory company (Advisory & Finance) with the focus to advise small and medium companies in mergers, fundraising strategies, and structured finance transactions. It is the most challenging decision I have ever made. 
If you had to describe your best memory at CIMBA, what would it be?
I graduated 10 years ago, but I still enjoy meeting with my ex-classmates and remembering the people who played such a great role in transmitting the sense of the master (Dr. Ringleb and Cristina). For me, born and raised in Italy, the CIMBA experience was a life-changing one, a turning point that gave me the chance to get in touch with a brand new way of thinking, living and working.
What advice can you give current CIMBA students?
I would suggest that foreign students take the opportunity to explore and travel as much as they can. Also, getting in touch with the Italian language and culture is a unique and enriching experience. My suggestion for the Italian students would be to use the time that they have available to really get to know their foreign classmates.
Alumni Updates

Jeremy Lill (CIMBA Part-Time Program, Class of 2006) has accepted a position in the accounting PhD program at the University of Illinois.  He will start Fall of 2010. Congratulations, Jeremy!

New job? Moving somewhere new? Getting married? Other life changes? Want to volunteer your profile for the Meet the Alumni section?
Keep your fellow alums in the loop! Send your news items to and they will appear here the following month.
Quick Links
CIMBA Website
Tippie School of Management
CIMBA Alumni Association CIMBA Alumni on LinkedIn
Undergraduate Blogs
Contact Us/Feedback
Calendar of Events:
May 2010

21 May: Low Ropes Course with Dr. Milan Pagon
28, 29 May: International Business Law with Prof. Joan Gabel


1, 2 May: Ethics with Prof. Nancy Hauserman
10-13 May: Final Leadership Assessment Delivery Sessions
11 May
: CIMBA Resident Student Check Out
17 May: MBA Summer Session Begins
17 May: 300 Undergraduates Arrive for the CIMBA UG Summer Session!


Past Issues

Greetings from CIMBA! The weather has certainly been heating up in the Veneto, and everyone seems to be comfortably settling into the idea of summer. Currently, the CIMBA staff is in "preparation mode," both at the undergraduate and graduate campuses, for summer programs that will be offered at each of the separate campuses. The Spring 2010 CIMBA Undergraduate class members have each made their way out of CIMBA and back home, or are traveling around the continent (despite the Icelandic volcanoes...); meanwhile, the CIMBA MBAs are finishing up their spring semesters, and will soon be packing up and moving into local Asolo apartments to make room for the summertime MBAs.
Seeing as summertime is soon approaching, let us know if you'll be traveling close to the Asolo area. We always enjoy seeing you all, so please keep in touch! If you'd like, join our alumni networks (now on Facebook and LinkedIn) -- the links are near the end of the left-hand column.

The CIMBA Staff
Having successfully worked through and presented their consulting projects, the CIMBA MBA students feel -- for at least a moment -- able to sit back, relax, and reflect on the challenges they have skillfully met during their year in Asolo. Katy Jo Brown, a first-year part time student and recipient of the Campus Life Coordinator Assistantship, says of her consulting experience, "I am relieved that my consulting project is over and was a success. The consulting projects were a ton or work, but very rewarding overall. We used concepts we learned in class, such as the economic order quantity & LEAN production, to show our client how to reduce costs and how to keep their process in control. The client was in disbelief that we came up with so many conclusions and recommendations. I personally learned a lot about how to work with different personality types and how to balance a fulltime job, the MBA, and my consulting project. What's more, it was really enlightening to get real world consulting experience with an international company." Congratulations on your consulting projects, MBAs -- a demanding job well done!

What's next for the CIMBA MBAs? This coming weekend, they will be sitting in on a New Venture Development course with Professor Nancy Hauserman of the University of Iowa. Hauserman, who holds the Williams Teaching Professorship and has a secondary appointment in the UI College of Law, has taught in the University of Iowa Department of Management and Organizations since 1977. A leader in educational innovation within the Tippie College of Business, she has been an early and successful adopter of new teaching technologies, and she was one of the university's first and most passionate advocates of service learning. She was instrumental in the establishment of the Judith R. Frank Business Communications Center, which now serves more than 400 students each semester. She won the Collegiate Teaching Award in 2003 and has been voted Professor of the Year by undergraduates and by MBA students.

The middle of this month marks the time during which the MBA summer session begins, when the current CIMBA MBAs leave the facility in Asolo and find their own apartments in the city. They will be joined from other MBA students from a variety of universities -- together, these MBAs will take elective courses that are the framework for CIMBA's summer session. And then, in June, the CIMBA MBAs will be leaving for Iowa City, where they will take their final capstone course... and graduate! The year has sped by -- the MBAs will certainly be missed here at CIMBA!

If you are interested in pursuing an MBA with CIMBA, or if you know of someone you would like to recommend to the program, please feel free to contact us. We are more than happy to provide you with any information and answer any questions you may have.
CIMBA Undergraduate

Tommy Thompson joined the CIMBA staff as a Campus Life Coordinator in 2008, a position that allowed him to work at CIMBA Undergraduate campus while simultaneously pursuing an MBA at the CIMBA campus in Asolo. Tommy will be graduating from CIMBA through the University of Iowa this July, at which point he will be returning to the United States. We'll miss you, Tommy!!

What about CIMBA originally drew you to the Campus Life Coordinator position?
My undergraduate experience at CIMBA left a profound impact on my life. A lot of the memories that I had of CIMBA involved the Program Coordinators that were here at the time, and when I got back to the states I decided kept that I wanted to kind of follow in their footsteps, so to speak. The position is incredible in that it affords us the opportunity to see and meet so many people from across the world, and having the chance to work with these students and ultimately learn from them has been incredibly rewarding.
What has been the greatest value of the position for you?
To me, the greatest value was in working with, and learning from, all of the students that have come through the program. CIMBA is unique in that it attracts some amazing people who are open-minded enough electively live thousands of miles from home. Meeting these people, and helping facilitate the same program that left such a great impact on my life in hopes that they have a similar experience, is defiantly a valuable thing to me.
What has been the greatest challenge of the position for you?
I would say time management has always been my biggest challenge. The position is quite busy, and we find ourselves constantly wearing different hats. One minute I might be working on the IS class that I need to teach in 20 minutes, the next minute I might be helping students fix their computers, or driving to Asolo to help with some website-development issues. Things are constantly changing. In a lot of ways, this is one of the things that I like the most about the program. I love how malleable our positions are: the opportunity to really find something that you are good at, and then find a way to take this talent or skill and apply it towards the program. I have honestly never worked in a place that offered so much job flexibility.
Looking back on your experiences as a Campus Life Coordinator, what do you remember most fondly?
Having the opportunity to teach. When I first found out that I would be a Campus Life Coordinator, I never thought that I would have the chance to actually teach people. But when the opportunity opened up to assist our distance-learning Information Systems class, I jumped at the chance to be able to fill the position. I have a newfound respect for our professors and the amount of time and care that goes into preparing for and teaching a class. I feel that I learned a lot from the students in the class, and the opportunity to be able to teach really left an impact on my life.
What advice would you give to a future Campus Life Coordinator?
I would say that the key to success here is keeping an open mind. Ultimately, this is what brought us to Italy in the first place: the chance to see and do other things. Working for CIMBA is unlike any job that I have ever had, and I can say that the key to getting the most out of your two years here, and ultimately learning the most about yourself as a person, is to never lose sight of the open-mindedness that brought you here in the first place. CIMBA will provide you with the opportunity to learn about intercultural communication, consulting, time management, presentation skills, conflict-resolution, and a whole lot of other things that simply can't be taught in a class room. Living every day like it is an opportunity to do something new is of paramount importance because the chance is that every day you will be doing something that you have never done before. Learning to embrace these opportunities is perhaps the most important lesson that CIMBA has taught me. I believe passionately that the CLCs who have come before me would agree to that.

CIMBA is currently accepting applications for the Campus Life Coordinator position that will begin this this fall. If you are interested in applying for this unique opportunity, please contact
CIMBA Executive Programs
The 9th Edition of the Executive Certificate
The latest edition of the program for the Executive Certificate in International Management is now opening its application process! If you're looking for additional training to get ahead of the competition and better your capabilities and the capabilities of your business (or if you have any questions about the program, its course load, and its benefits to you), please feel free to contact us:
Upcoming Events for the Executive Programs
Low Ropes Course
21 May, 9:30 - 6:00 pm
CIMBA, Paderno del Grappa Campus
Prof. Milan Pagon, PhD - University of Iowa
International Business Law
28 - 29 May, 9:30 - 6:00pm
CIMBA, Asolo Campus
Joan Gabel - Florida State University
In-Company Training & Coaching
Several companies are getting tangible benefits thanks to CIMBA's in-company leadership development training and coaching. If you are interested, give us a call or send us an e-mail and we will show you what your ROI could be.
A-B-C: Al's Book Club 

The months of March and April have witnessed considerable progress within the CIMBA leadership development system.  Of particular importance was our decision to fully embrace a technology company with the ability and the desire to collaborate and support our development system.  Through a variety of tests both here and in the US, it became apparent that our system benefited significantly from the active use of neuro-biofeedback technology with the ability to measure heart rate variability, skin conductance, respiratory rates, movement, and other physiological data. We found it was important to have neuro-biofeedback equipment capable of measuring those inputs wirelessly so that we could make use of the equipment both in the laboratory and classroom environments. It is now our expectation to have a fully functioning measurement system at both the graduate and undergraduate campuses beginning in September. I can assure you that these are very exciting times at CIMBA.

So what are we measuring with this neuro-biofeedback equipment?  For those of you who read this column regularly, you know that we have been systematically building a leadership and talent development system based on the relationship   between emotion, behavior, and performance.  We have long asserted the importance of the appropriate combination of skill and behavior in a manager/leader's ability to effectively bring about the desired result. Traditional training has focused almost exclusively on the skill component, making only brief mention of the need to bring into play the appropriate behavior.

So what are these emotions and what drives them? Again, as regular readers of this column know, those emotions range from excitement to fear and anger. The primary drivers of those emotions in a social setting are SCARF -- status, certainty, autonomy, relatedness, and fairness. With the addition of self-regulation or impulse control, these six elements are the primary focus of our new Genesis assessment program. After successfully completing Genesis, an individual has a good understanding of their relative response to situations involving self-regulation and SCARF issues relative to their peers. This assessment is based not only on standard, written instruments, but is also supported by the neuro-biofeedback data collected and analyzed as the individual goes through a series of well-designed and tested emotion-eliciting events and experiences. The uniqueness and effectiveness of Genesis is driven by the quality of the measurement technology provided by our technology partner, its accompanying software, and the CIMBA creativity put into the emotion-elicitation events and experiences (which are both visual and participative). The assessment data collected provides invaluable input to the individual's coach as they work together to create a more effective development plan. In addition, the information provides greater focus for personal insight and development in the LIFE program that follows Genesis. The end result: a leader capable of creating a productive, creative environment in which to work.

And that leads me to the book that I would encourage you to read this month: Daniel Pink's Drive: The Surprising Truth About What Motivates Us. A very good video accompaniment is Pink's TED talk available on YouTube at: I would suggest watching the video before or even during the time you are reading the book.  In essence, Pink's book takes a "social science," as opposed to our neuroscience and social psychology, approach to motivation in the workplace, comparing extrinsic motivation (essentially monetary rewards) to intrinsic motivation (essentially creating our "positive engagement" environment).  The book is well written, emphasizing three core ideas regarding motivation in the workplace:

Autonomy: People want to have control over their work.

Mastery: People want to get better at what they do.
Purpose: People want to be part of something that is bigger than they are.

As do we, Pink emphasizes the leader's role in bringing about this result, stating that in most highly effective workplaces, it is the manager/leader who is the most important force creating an environment when intrinsic motivation occurs. Most leaders through trial and error soon learn that the "carrot and stick" incentives (and behavioral psychology) do not work.
In expanding upon Pink's thesis, we emphasize that neuroscience research into the social nature of the brain suggests a more effective approach. Five particular qualities enable employees and executives alike to minimize the threat response and instead enable the reward response, increasing motivation. These five social qualities are SCARF: status (essentially what Pink refers to as "Mastery"), certainty (what Pink refers to as "Purpose"), autonomy, relatedness, and fairness.
In increasing STATUS, effective leaders stay engaged with their followers by actively seeking to understand and act on behalf of their expectations and preferences. In giving feedback, they provide followers with praise and recognition for strong performance. They provide challenging and meaningful work with opportunities for career advancement. Most followers really do want to do great things in their jobs. Followers want to know that their input matters and that they are contributing to the organization success in a meaningful way.
In increasing certainty,effective leaders provide clarity in job expectations and role responsibilities (to avoid negative emotions such as boredom or resentment). They provide effective internal communications that convey a clear description of "what's going on." Effective leaders communicate a clear vision. Followers want to understand the vision Leadership has for the organization, and the goals that leaders have for the division, union, or team. Success in life and organizations is, to a great extent, determined by how clear individuals are about their goals and what they really want to achieve.
In increasing autonomy,effective leaders know that followers value control over the flow and pace of their jobs. They create opportunities for followers to exercise this control. Followers want a feeling of "being in on things," and want to be given opportunities to participate in decision-making. Effective leaders know that this creates trust in a culture where followers want to take ownership of problems and their solutions.
In increasing relatedness,effective leaders know that if the relationship with their followers is broken, no amount of perks will persuade them to perform at top levels. Employee engagement is a direct reflection of how employees feel about their relationship with the leader. Effective leaders show that they value their followers. The state of engagement is a direct reflection of how followers feel about the relationship with their leader.
In increasing FAIRNESS,effective leaders set realistic targets, select the right rewards for performance, communicate the scheme effectively and frequently, present awards publicly and evaluate the incentive scheme regularly. Effective leaders challenge their followers but at the same time, instilling confidence that the challenges can be met by providing the necessary knowledge and tools to be successful.
Isn't this the kind of quality environment that we want our leaders to create?