A Berkeley Haas MBA student team took first place at the 2022 Net Impact Case Competition for crafting innovative ways that a leading outdoor retail company could invest $50 million to make a sustainable impact.
The March 5 competition, hosted by University of Colorado Leeds School of Business, virtually brought together 50 MBA teams from U.S. business schools, including Daniels College of Business (University of Denver), Robert H. Smith School of Business (University of Maryland), and Darden School of Business (University of Virginia).
The winning team, Too Haas to Handle, won $10,000 in prize money. Team members included Tomoe Wang, Adriana Rueda, Liz Kanovsky, and Tomas Stegmann, all MBA 23.
This year, teams were asked to consult a leading outdoor retail company on how to allocate $50 million to address three priorities for the company: narrowing the racial wealth gap, reducing climate emissions, and strengthening democratic institutions.
The Haas team proposed creating a sustainable impact fund that would support initiatives including offering down payment loans to 7,000 employees to narrow the existing racial wealth gap; distributing grants to nonprofits focused on redistributing political and economic power; and providing loans to all stakeholders–from employees to suppliers–who initiated projects that raised sustainability standards and reduced climate emissions. Those projects included installing solar panels at the company’s warehouses.
“What set us apart from other teams was the diversity of our team,” Stegmann said. “Each of us came from different backgrounds, grew up in different countries, and experienced different cultures. However, despite being so different, we complemented each other very well and we were able to leverage each other’s strengths to get the most out of the team.”