Tag: Northwood University

Cultivating Tomorrow’s Business Leaders

Post author By efgmarketing
Post date August 9, 2017

Contributing Author:
Keith Pretty
President and CEO
Northwood University

The innovative and global nature of the automotive industry is not unlike the world of business education in that it is constantly evolving to the needs of customers. Business is dynamic, and it requires critical thinking, personal effectiveness, and an emphasis on responsibility.

At Northwood University, our business acumen and long-standing relationship with the automotive industry places us at an important nexus for developing future leaders. This, and our shared values, are among the reasons the partnership between EFG and Northwood is one cultivated in our students before they graduate and join the workforce ready to be leaders, difference-makers and change agents.

One of the best examples of our collaboration is EFG’s F&I Innovator contest, started in 2015. The trailblazing project designed and sponsored by EFG is truly Northwood’s curriculum at work: real-world, experiential opportunities that have real implications on our student’s futures. Northwood seeks students with an entrepreneurial ethos, and the project allows them to apply their creativity to what they have learned about the finance and insurance applications of the automotive industry. It’s a project at the important intersection of industry, education and innovation, and one we are proud to partner with EFG to promote.

The F&I Innovator contest ignites in Northwood students what we know they all possess: a desire to make a difference in the world of business. They learn through our unique philosophy—the Northwood Idea—that a free-enterprise business world allows people to succeed at the highest level, and that ethics and integrity are the basis of a successful society. Our alumni leave Northwood with the knowledge and practical experience needed to shape the world.

Tags EFG Companies, F&I Innovator of the Year, Keith Pretty, Northwood University

Featured

EFG Companies and Northwood University Announce F&I Innovator of the Year Competition Winner

Post author By efgmarketing
Post date December 14, 2016

Team Vigilance Meets Consumer and Dealer Demands with 401Karrs

EFG Companies, the innovator behind the award-winning Hyundai Assurance program, together with Northwood University, today announced the selection of Team Vigilance as the winner of the 2016 Innovator of the Year Award competition, and the recipient of $25,000.

Team Vigilance utilized their millennial mindset, ongoing dealership research, and F&I mentor input to create “401Karrs”. The product addresses Millennial and Gen Z concerns around financial security, and delivers on dealership goals around customer retention. In addition to the team’s monetary reward, they will potentially see 401Karrs developed by EFG for market availability. Team Vigilance is made up of three team members:

Alec Bond from Lindin, MI
Houston Huff from Tuscon, AZ
Lucas Myrhe from Austin, TX

“We want to thank all the teachers and mentors from this competition and across Northwood who’ve been a huge inspiration and motivation throughout this project,” said Lucas Myrhe. “With their guidance, we were able to deliver a product that is beneficial to customers and dealerships, increasing dealership profit, retention, and customer satisfaction.”

Tags Central Maine Motors Auto Group, Craig Drew, EFG Companies, John Pappanastos, Keith Pretty, Northwood University, student debt

2016 Innovator of the Year Competition

EFG Companies and Northwood University Announce Student Competitors and F&I Mentors in 2016 F&I Innovator of the Year Competition

Post author By efgmarketing
Post date September 21, 2016

Students compete for $25,000 and the chance to see their F&I product in the market

EFG Companies, the innovator behind the award-winning Hyundai Assurance program, together with Northwood University, today announced the student competitors and F&I mentors participating in the second annual F&I Innovator of the Year competition. Vying for $25,000 in prize money, this year’s 18 contestants hail from Arizona, California, Illinois, Indiana, Michigan, New Jersey, Pennsylvania, and Wisconsin. For more information on the competition, visit http://bit.ly/Inn0v8te

The credit-based competition pits six teams of Northwood’s automotive students to conceptualize and build a new F&I product. Each team is mentored by an F&I director, and the competing teams develop a business case for their new F&I product that incorporates industry research, market viability, and the product’s potential to facilitate F&I product sales in franchise dealerships. The teams will also keep weekly, YouTube video diaries of their progress, challenges and breakthroughs.

“The mentors’ industry experience is invaluable in guiding the competitors on the real-world challenges facing dealerships today,” said John Pappanastos, president and CEO of EFG Companies. “From changing consumer purchasing behaviors, to increased FTC and CFPB compliance oversight, and a call for enhanced transparency, these mentors will impart a wealth of knowledge that spurs innovation among the students.”

The teams and mentors include:

Tags Bob Moore Auto Group, Central Maine Auto Group, Davis-Moore Auto Group, EFG Companies, F&I Innovator of the Year Competition, Hanlees Auto Group, Northwood University, Nyle Maxwell Auto Group, Rohrich Auto Group