Through the Kraye Challenge, IBSG members are given $1500 to develop and sell a multicomponent product. The project is a hands-on approach to learning entrepreneurial strategies. Anything earned beyond the $1500 from the sale of a given product is allocated to a philanthropic pursuit. This project was devised in honor of the late Professor Howard Kraye, a UNM professor who passed in May of 2010, who normally utilized this project as part of his own curriculum. Members are given the opportunity to utilize concepts learned in Anderson School of Management classes in a real world setting by engaging in business transactions.
The Kraye Challenge contributes to professional development, where students acquire entrepreneurial skills, foster relationships with organizations, and learn about philanthropy IBSG members will cultivate relationships with organizations in order to gain sponsor buy-in as well as establish suppliers both locally and abroad.
Our mission at IBSG is to provide students with world-class opportunities to employ real business transactions and instill ethical business practices that aim to serve the students and the community. The Kraye Challenge achieves this mission by contributing to professional development, where students acquire entrepreneurial skills, foster relationships with organizations, and learn about philanthropy. We believe that the Kraye Challenge will leave a long-lasting impression in the hearts of students and members of the community, much like Professor Kraye himself.
The Kraye Challenge curriculum includes:
- Participation in an annual entrepreneurial project; created, planned, and executed by students in partnership with local businesses and other private stakeholders.
- Participation in a professional development workshop.
- An annual research project.
The Kraye Challenge Spring 2012 Details
Package ComponentsThe spring 2012 package is geared towards bringing awareness and participation for the environmental sustainability movement. The package will aim to include a re-usable canvas bag, a water canteen, water purification pen, drought-tolerant plant seeds, and a booklet including ways we can help save the earth featuring a memorial to Professor Howard Kraye. Each item in the package emphasizes an alternative to environmentally harmful products. Why it matters is examined more closely below.
The canvas bag is a substitute for the commonly used plastic bag. The U.S. goes through 100 billion plastic shopping bags annually (Wall Street Journal). A single plastic bag can take up to 1,000 years to degrade. Each reusable bag can eliminate hundreds (if not thousands) of plastic bags.
A water canteen is an alternative for plastic water bottles which have become problematic for landfills. Plastic bottles deplete fossil fuels during the manufacturing and transportation processes and strain the environment. A water purification pen would enable individuals to access purified water without the worry of filling their canteens with contaminants.
Drought tolerant seeds that are tailored for the New Mexico area will be a part of the package in order to bring awareness and involvement in water conservation, as well as countering the destructive consequences of greenhouse emissions.
Finally, the package will include a written booklet explaining simple things people can do that will make a big impact on the earth such as recycling, composting, putting a stop to the use of Styrofoam, and more. Background facts and expected results of simple adjustments in daily activities will be included. The booklet will also include a memorial to the late Professor Howard Kraye, who will remain in the hearts and minds of his students, family, and friends forever.
It is our hope that this package will bring awareness to the environmental sustainability movement and gain active participation from members within the UNM community. We believe that it is our duty to educate and enable people to get involved with the conservation and protection of earth so that it remains a hospitable home for generations to come.
The spring 2012 research project is geared towards helping our project sponsor, Arturo Sandoval, develop a market entry strategy in the Santa Fe market for an eco-tourism business. The eco-tourism business is a first to be placed on a land grant in New Mexico. The Land grant area is in the Truchas which resides in between Santa Fe and Taos. Both of these cities have green initiatives and therefore offer a great opportunity to appeal to the pull from the market. We are shooting for attracting about 1/10 of 1% or about ~700 people from Santa Fe.
Other campgrounds in New Mexico have been drawing crowds from across the US as well as internationally. It is our hope to garnish interest from tourists, locals, and other campground owners specifically in the Santa Fe area. Our efforts will help New Mexico lead the way for developing the standards for environmental sustainability in camp areas.
Undesignated as of this time
Undesignated as of this time