Business Students Get Strategic Planning Experience from Alumnus and FacultyWhen faculty members in the Change Management track at the School of Business wanted to give their business students a true-to-life assignment on strategic planning for change, they turned to a local School of Business alumnus.
Michael J. Castellana, B.S. �84, MBA �92, chief operating office of SEFCU, the area�s largest credit union, received both his bachelor�s and master�s degrees from the University and currently serves on the advisory council for the University�s Evening MBA Program. He was asked by associate professor of management Cecilia Falbe to provide the 16 students in the Change Management class students with a hands-on learning experience. Castellana presented what Falbe calls a "living case," that is, a real-life situation on which the students have an opportunity to suggest a plan of action.
Castellana met with the class and presented an overview of the credit union industry in general and some specific issues that SEFCU is dealing with. The students then had two weeks to use the change management tools they are learning to develop strategic plans for him and three of his colleagues to critique.
Michael J. Castellana speaks to students
in the evening MBA program.This turned out to be a better project than Falbe or Castellana could have envisioned, because, the day before the plans were due to be handed in, the Supreme Court handed down a decision that limited who credit unions could have as customers. When he came to the class for the presentations, Castellana explained the situation and gave the students a short time to change their plans before they made their presentation.
"The SEFCU change management project was a classic example of the synergies that develop when the academic and real world environments are combined," said Castellana. "I was able to take away certain methods and techniques that have been developed for the change management tool kit that will directly improve our efforts to make acceptance and initiation of change a core component of the SEFCU culture. The students were given the opportunity to use SEFCU in a laboratory setting as they attempted to apply their theories to existing and emerging change management issues. They were also exposed to the changing nature of the business world as they were asked to modify their presentations on the spot for to take into consideration the water-shed Supreme Court decision handed down the prior day. Unlike working on the standard Harvard case studies, the students were able to work in the here and now with immediate executive level feedback."
In addition to being CEO of SEFCU, Castellana is chairman and chief executive officer of SEFCU Services, Inc., a wholly owned subsidiary. He is responsible for overseeing the daily operations of SEFCU, and in this capacity supervises the executive management staff in finance/accounting, marketing, operations, management information systems, branch administration and support services. He joined SEFCU in 1988.
Alums in Government Meet
More than 100 graduates of the Graduate School of Public Affairs, including a state assemblywoman, a state executive deputy commissioner, the senior budget examiner for the state�s Division of the Budget, a director of a state bureau, a director of a State Senate committee and task force, a town supervision, several town council members, and a host of government administrators and environmental and correction consultants are scheduled to meet on March 19 at a first-of-its-kind event at the Governor�s Mansion.
New York State Soliciter General Barbara Billet �72 will be the keynote speaker as GSPA alumni share experiences of both Albany and their current work in an evening called "University at Albany Alumni in Government." It is hosted by the Alumni Association and also includes a talk by President Hitchcock.
Son Remembers Inspiration of Mother to Business Students
A 1977 graduate has established a scholarship in memory of his mother to help qualified students reach their goals in the business world.
The Martha Bealler Altman Scholarship Fund was set up by Nolan Altman, chief financial officer of Tiger Management Corporation (TMC), an investment firm which manages approximately $10 billion through its Tiger, Puma and Panther limited partnerships, and the Jaguar Fund N.V., a Netherlands Antilles corporation.
Donald Bourque, dean of the School of Business, thanks Nolan Altman for the new scholarship bearing his mother's name.
Martha Bealler Altman was a New York City school teacher at Maxwell Vocational High School in Brooklyn and was the founding coordinator of the local Future Business Leaders of America branch. Maxwell and the FBLA branch were both located in one of New York�s lowest income neighborhoods, but Mrs. Altman showed the way for many students to a brighter future through diverse paths in the business world.
Nolan Altman remembers her as providing constant encouragement and motivation to her students, increasing their self-esteem and confidence. She guided many into participation in local projects, business fairs and national conventions, where they won numerous awards and commendations. "Those experiences exposed the students to people and possibilities they would never have been exposed to had it not been for her leadership and commitment," he said.
"And I think the ultimate satisfaction from her work came from knowing that some of her students were inspired to continue on to college � most the first from their families to do so � and to pursue successful business-related careers."
Beginning his own career with the accounting firm of Seymour Schneidman & Associates, Nolan Altman worked with the firm for 16 years before joining Tiger in June 1993. He was named CFO the following year, specializing in information and accounting policies for hedge funds. He is a frequent speaker at investment conferences. Since graduating from Albany with an accounting degree, he has offered his expertise as an advisor to the University at Albany Foundation.
Susan Diamond Altman, his wife, is also a 1977 graduate from Albany, her degree in business administration. A former secretary of the Student Association, she is now a computer systems consultant. The couple have two daughters, and currently reside in Oceanside.
