ineteenth century tightrope walker Jean Francois Gravelet (alias Charles Blondin) made the earliest crossing of Niagara Falls in 1859 on a 3-inch-thick hemp rope, executing a backwards somersault in the process. Thereafter, he made additional crossings of the Falls blindfolded, in the dark lit by Roman candles, on stilts and while cooking and eating an omelette.

We examine the modern-day balancing act that companies and communities are facing in the UNC Business cover story, “Outsourcing: Balancing the Risks and Rewards.” In a spring 2004 alumni magazine survey, you told us you want to read more about the current and future economic impacts of outsourcing — and how UNC Kenan-Flagler faculty are addressing this issue.

• In May, our students visited India to learn firsthand about the perils and promises of outsourcing. We share insights from faculty — an outsourcing “survival guide” — for businesses grappling with this multifaceted subject.
   

• Alum Hunter Howard (MBA ’99), who is living this balancing act, describes his experience as co-founder of a medical accounts receivable management company that has a call center in Sri Lanka.
   

• Alum Phail Wynn (Executive MBA ’89), president of Durham Technical Community College, talks about the increasingly important role the college is playing as layoffs, outsourcing and downsizing place more pressure on North Carolina’s community Colleges to train the next generation of workers.
   

• Information and technology management professor Arvind Malhotra shares how companies are using far-flung virtual teams to manage knowledge in global companies in our back-page faculty commentary. The value of virtual teaming is high for companies that are creating innovative products using growing intellectual capital in countries such as China, India and South Korea.

In the survey, you also said you want to read more insights from Dean Steve Jones. In this issue, the dean reflects on his inaugural year at UNC Kenan-Flagler and shares his short- and long-term plans for the School’s future.

You also asked for more information about the innovative courses that professors are teaching. Our monthly e-newsletter kicked off a series in October that features some of these classes. To subscribe to the e-newsletter, a companion piece to the bi-annual alumni magazine, visit www.kenan-flagler.unc.edu/enews.

As contemporary business funambulists (from Latin, meaning “rope walkers”), we invite you to turn to faculty experts at UNC Kenan-Flagler as you weigh the risks and rewards of outsourcing — along with the other business challenges and opportunities you are facing.

Kim Weaver Spurr
Editor