Free Press

Issue date: 3/10/08 Section: News

Standing in front of the trophy case in the School of Business office, you might think we have a dynasty on our hands. Trophies fill the display case, each proclaiming the accomplishments of SIFE. It's impressive, but it raises a question.

What is SIFE?

The Students in Free Enterprise, or SIFE, is one of the largest student non-profit organizations in the world, with over 1600 participating colleges in the U.S and 40 countries worldwide. Texas attorney Robert T. "Sonny" Davis founded the international organization in 1975.

USM has had a SIFE team for the past four years. The team coordinates local events for business and high school students and competes in regional and national competitions that involve solving business, marketing, and personal finance-related problems as a group and presenting their solutions to a board of judges.

Citing core goals of increasing financial and economic education within the university and community, SIFE is based on five core pursuits aimed at "practicing and teaching the principals of free enterprise."

USM SIFE president, senior Buddy Lalemand, insists that the group is "absolutely essential for any business major."

"The time-management skills and networking opportunities that SIFE provides are a valuable resource for students interested in business," said Lalemand.

With groups in 42 percent of colleges nationwide, SIFE's core pursuits aim to educate students and their community on market economics, financial literacy, entrepreneurship, business ethics, and personal success skills.

SIFE groups practice these principles by designing programs for students and the local community to boost their understanding of free enterprise.

Last week the group hosted several projects at USM as part of National Entrepreneurship Week in Maine. The projects included a market simulation for high-school students enrolled in Junior Achievement, and a seminar on Insurance Fraud.

In January Lalemand, fellow seniors Sara Willey, Kelly O'Connell and junior Jason De Campos competed in the annual "Duel on the Heights," a personal finance competition at Boston College put on by the University of Arizona's SIFE team.

They finished in second place behind Syracuse, and took home a prize of $1,500.

In its first year at USM, SIFE was awarded the title of "outstanding new student organization" in the annual Student Involvement Awards.

In addition to competitions and helping local high schoolers, the team spends all year developing projects to benefit the community. Such projects are submitted for review at regional SIFE competitions each year, where groups can win awards for projects in each of the five core pursuits.

Continued...

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