The current economic situation has been called “the worst in a generation” by several prominent writers and editors. Others have compared this mess to the Great Depression, further expanding the notion that the hole we’ve fallen into isn’t business as usual. Whatever its historical context, most of us can recognize pain when we feel it. And as we prepare to welcome spring in a seasonal sense, a broad based warming of our economic climate would be welcome relief as well.

Along those lines, I want to personally thank those that have generously contributed to Beta Gamma Sigma over the last year (see the list on page 12). We all have decisions to make when it comes to how we share our gifts; how we can have the greatest impact. That’s why I’m humbled that so many lifetime members continue to give back to Beta Gamma Sigma in spite of difficult times. This is quite a testimony to the fact that members believe Beta Gamma Sigma is doing good things for its members and the entire business community.

There is a tremendous responsibility that comes with accepting your gifts, and the Board of Governors and staff of Beta Gamma Sigma take that responsibility very seriously. It is our job to ensure that we’re good stewards of those funds – that we provide the greatest impact possible. We are engaged in ongoing discussions about the value and effectiveness of a variety of services and programs, and we are committed to expanding those that are best and reducing or eliminating those that help the fewest. This may mean we are re-committing to growing the Student Leadership Forum while at the same time finding ways to hold the line on its costs. It’s just the right way to do business, and we pledge to continue working on these issues.

If you’ve gotten this far in the print publication, you’ve probably noticed a style change or two in the way the BGS International Exchange is packaged and delivered. In the past the magazine was delivered flat, resulting in a more-familiar “magazine” look and feel. However, that’s the least efficient way to deliver the publication through the U.S. Post Office. The non-profit “flat” rates for postage have gone up dramatically over the last few years, and those increases are sure to continue. So the Central Office started investigating alternatives that would cut our cost while still delivering the kind of information you’ve come to expect.

The result, which may be temporary or a long-range solution, is to fold the magazine down to 5 ½” x 8 ½” and tabbing the open ends. This change results in significant postage cost savings – in the neighborhood of 30 percent – and still ensures the quality you expect. In addition, with the change in the way the publication is set up for print and the type of paper used, there are significant additional savings. As I said before, it’s just good business to implement these types of changes now, when each and every dollar we receive must be spent wisely.

I hope you agree this makes sense, and I assure you this is just an example of the kinds of things Beta Gamma Sigma is doing to meet its Mission in a responsible manner. Some of the other efforts include holding Training Webinars with collegiate chapter representatives electronically instead of adding additional “in-person” Training Seminars; negotiating more favorable terms with service providers when it comes to events like the Student Leadership Forum; requesting more bids for print jobs to ensure we get the best possible quality at the lowest cost; and scrutinizing every meeting we attend to ensure we get the highest possible return on our investment. Again, it’s just good business.

As you may know, many of us on the Board of Governors are deans or faculty at AACSB accredited business schools, and we are facing many of the same financial pressures in our “regular” jobs as we are with Beta Gamma Sigma. And I assure you we take this effort very seriously. Even in these tough economic times we hope to enlist more members who are willing to join those on page 12 in supporting our outstanding programs and services.

We recently opened the doors to the new BGS Center for Ethical Business Leadership (www.eblcenter.org), and every member should be proud to be a part of this effort (see related story on page 4). I will write more about the EBL Center in future issues, but this is an example of utilizing our limited funds to accomplish great things.
As my predecessors and I have written in this space many times, this is your honor society and we need your input. I would like to hear back from you on any and all Society issues: the change in the magazine’s design, the opening of the BGS Center for Ethical Business Leadership; the Student Leadership Forum and BGS Scholarship programs; and anything else that you believe is important. What topics should we focus on in future issues of the Exchange? How would you like to be involved in the Society’s 100th Anniversary in 2013?

Please send any thoughts you have for me to president@betagammasigma.org. It is critical that we have your input on these and so many other issues as we work our way through a difficult 2009 and beyond. Offering the right programs and services for our lifetime members – and doing it all in the most efficient manner possible – is the right way for us to do our business. We hope you agree.

George E. Stevens
President of Beta Gamma Sigma