Academic corner.

• Position: Financial Executives International

In the depths of the current recession, FEI's Atlanta Chapter asked local college students: "What can companies do to succeed in this economic downturn?" This challenge was presented as part of its annual Academic Awards program. In addition to submitting transcripts, a resume and a letter of recommendation, students were asked to submit a research paper that would answer this question as well as explain why such actions would work.

The Atlanta Chapter's Academic Awards program is focused on students from colleges and universities with faculty or immediate family who are members of the chapter. Applicants must be juniors or first-year graduate students.

Invitations to submit applicants were extended to members of FEI's academic community at six institutions:

* Clayton State University

* Georgia Institute of Technology

* Georgia State University

* Kennesaw State University

* Oglethorpe University

* University of Georgia

"The Atlanta Chapter decided to modify our annual award process to encourage more meaningful interaction among our membership and the students receiving awards," says Christopher (Chris) Arndt, vice president finance for My Choice Medical and FY 2009 Atlanta Chapter president.

"As a board, we felt that students would gain a better appreciation of the challenges facing financial executives today by researching timely topics. We wanted these leaders of tomorrow to realize that a career in finance is more than just understanding the numbers. It is about providing meaningful, forward-looking guidance to the organizations they join."

The top Academic Award of $1,250 was presented on April 28 at the Buck-head Club to Danielle L. Chapman, of Clayton State University, with five other students receiving $750 awards. One of the other awardees, Winifred O. Akande, of Georgia State University, received an honorable mention for outstanding credentials and her research paper.

Chapman and Akande will each receive a complimentary one-year electronic subscription to all FERF publications, as will all other students presented with awards by FEI chapters. In addition, the student essays have been posted to the FERF Knowledge Center under "Competitiveness."

So what can companies do to succeed in the current economic downturn?

Winner Danielle Chapman observed that in past economic downturns, innovation was the answer. She noted that some of the well-known and respected brands were born in times of recession. Among those: FedEx (1973); People...