Millennial Men Taking on Parental Leave, and More – Toronto News
Toronto’s finest business schools have been contributing to social, political, and scientific advances this week. We’ve laid out the highlights below.
How Testosterone May Be Influencing Men’s Purchasing Decisions – The Globe and Mail
Nature Communications recently published research from Western University Canada’s Ivey Business School that explored the relationship between testosterone levels and luxury brand purchases in men. The study finds that levels of the hormone, typically associated with sex drive and masculine features, could play a role in predicting shopping choices.
The study involved 243 men between the ages of 18 and 55, divided into two groups. The men in one group were given doses of testosterone, and those in the other group received a placebo. Those with higher levels of testosterone were more likely to purchase high-end brands than those with lower levels of the hormone. Researchers posited that this is due to an evolutionary drive to demonstrate high social status, and therefore a high mate value.
According to the study, testosterone, “elevates men’s desire to promote their social status through economic consumption.”
You can read more about the study here.
How Millennial Men Can Champion Workplace Equality – Forbes
Though, externally, it seems society has made remarkable strides toward gender equality, subconscious bias is more difficult to measure. Harvard’s Project Implicit study, however, attempts to gain data about implicit gender bias. Nearly 80 percent of participants were more comfortable associating men with the work and public spheres and women with the domestic spheres than vice versa.
According to the research, working mothers tend to be faced with skepticism surrounding their commitment and ability to do their jobs when they return from parental leave. However, millennial fathers, may have the chance to help alter this perspective. In her Forbes article, Mary Beth Ferrante sites the work of Erin Reid, Associate Professor at McMaster University’s DeGroote School of Business. Her work explains the concept of breadsharers, or, “husbands who value enabling each partner to pursue their work and family goals.”
Erin Reid, Associate Professor at McMaster University’s DeGroote School of Business, notes that the more millennial men take parental leave, the more normalized the practice becomes / Photo via gsb.stanford.edu
Milliennial fathers are more open to breadsharing, and could thus influence the way new mothers are seen in the workplace. Ferrante insists that it is essential for men to take their full parental leave in order to challenge implicit bias surrounding the roles of men and women in the workplace and at home.
You can read Ferrante’s full piece on millennial men influencing parental leave here.
What is the Most Democratic and Effective Way to Govern a City the Size and Economic Import of Toronto? – The Globe and Mail
Richard Florida, professor at the University of Toronto’s School of Cities and Rotman School of Management, and Alan Broadbent, Chair of Avana Capital and Maytree, recently co-authored an article for The Globe and Mail that explores Toronto’s future in the wake of Doug Ford’s announcement that he plans to drastically reduce the size of Toronto’s city council.
With different parties vying for a say in how Toronto ought be governed moving forward, the co-authors insisted that, “The province and the country as a whole can’t afford to have an economic entity of this size and economic importance kicked around like a proverbial political football.” Florida and Broadbent advocate for finding a system that would empower the city rather than dividing it.
The two say:
“We need to create a new governance system that enables Toronto to truly govern itself, act on its strengths and address its many problems and challenges. The future prosperity of our city, province and nation depends on it. It’s an issue that must be front and centre in this mayor’s race and beyond.”
You can read more about Toronto’s economic future here.
Rotman Prof Talks MeToo Movement, and More – Toronto News
Professors and alumni from Toronto’s top business schools have been making headlines this week. See what they’ve been up to below.
The Corporate Climb: Women Locked Out of Old Boys’ Club in Misguided Me Too Backlash – Canada’s National Observer
The MeToo movement began as a way to shed light on the pervasiveness of sexual assault and harassment following the allegations against Hollywood power-producer Harvey Weinstein. Ideally, the MeToo movement would lead to more accountability for people in positions of power, and consequently, better boundaries in working and personal relationships. Unfortunately, progress often comes with backlash, which may be the case in Canada’s business world.
Instead of increased education about harassment and consent, many workplaces have taken to diminishing their liability via actions that hinder women. Because of this, some men in upper-level positions shy away from mentoring women or being in more intimate situations with them (e.g. a client dinner, or a business trip). However, Sarah Kaplan, professor at the University of Toronto’s Rotman School of Management, feels strongly that focusing on the backlash of the movement is counterproductive to the cause. In Canada’s National Observer, Kaplan says:
“It is just one more way that even an effort to lead to more liberation and equality has been co-opted. It is as if people don’t understand what they shouldn’t be doing. As long as you don’t grab someone or proposition them, you can take someone to lunch … It is completely obvious how to be professional.”
You can read more about the reaction to the MeToo movement here.
Tattoo Company Fosters a New Kind of Art – Ryerson Today
Braden Handley, a Ryerson University’s Ted Rogers School of Management Entrepreneurship graduate, co-founded Inkbox with his brother Tyler in 2015. Since then, the business has recently accrued $10 million CAD in funding. Inkbox offers semi-permanent tattoos made with organic materials, that last around two weeks.
Braden Handley (left) with his brother Tyler / Photo via ryerson.ca
“Ryerson helped me get into work mode immediately,” Handley tells his alma mater in a recent interview. “You were taught how to be an employee … We were given a lot of assignments that were real work assignments.” The company employs 60 people, who contributing to the distribution of 60,000 tattoos per month.
“Chase your dreams, but your dreams have to align with your natural abilities as well. Everyone has predispositions and skills.”
Get more familiar with Handley’s journey here.
Top 100 Corporate Social Responsibility Influence Leaders – Assent Compliance
Assent Compliance’s new list of the “Top 100 Corporate Social Responsibility Leaders” has arrived. The ranking analyzes those whose “efforts contribute to improvements throughout global supply chains, helping individuals and companies make a positive difference.”
The list includes notable people like Laura Chapman Rubbo, who helped create the human rights policy for Disney.
Dirk Matten, Professor at York University’s Schulich School of Business, lands 44th on the list. Matten, who holds the Hewlett-Packard Chair in Corporate Social Responsibility, serves as Schulich’s Associate Dean of Research.
Discover the full list here.
Schulich Alum Shares His Experience, and More – Toronto News
Toronto’s business schools have seen some exciting developments from students, alumni, and faculty this week. Let’s take a look at some of the high points.
Alumni Stories: Michael Zanella – MMgt – Schulich School of Business
A Schulich School of Business alum was recently profiled on his time in the school’s new 12-month Master’s of Management program.
Michael Zanella, a 2017 graduate, who turned his education into a role with Ceridian Dayforce as an Implementation Consultant Associate. You can watch his full interview below.
Wine, Beer, Spirits Brand-Builder WX Names Michael Lukan CFO – North Bay Business Journal
Michael Lukan was recently named the official new CFO of WX Brands, a company that creates wine, beer, and spirits. Lukan, an alum of Western University Canada’s Ivey Business School, co-founded Wine Hooligans in 2013. He has also worked at Purple Wine Company and Sonoma Wine Company. With news of the Lukan’s arrival at the company, WX Brands President and CEO Peter Byck says, “His well-rounded experience and entrepreneurial mindset will make him a great asset for WX Brands to continue to build on our tremendous growth.”
Regarding his new role, Lukan says, “Peter and the WX team have positioned the company for tremendous growth by delivering an exceptional customer experience and I’m looking forward to helping realize this opportunity.”
You can read more about Lukan and WX Brands here.
What Is Less Scary in the Dark? – Scientific American
Ping Dong, a Professor at Northwestern University’s Kellogg School of Management, and Chen-Bo Zhong, Professor at the University of Toronto Rotman School of Management, recently conducted a study that examined the, “impact of visual darkness on people’s perceived risk of contagious-disease transmission.” The researchers predicted that the darkness would make people feel more separate or insulated from one another, so they would be less squeamish about the germs of those around them. In fact, the study concluded that being in a darker environment would make subjects reduce their caution when it came to unethical behavior, of which might include cheating on one’s significant other and other acts of selfishness.
Their research showed that perceived risk of contracting airborne illnesses decreased when participants were in more dimly-lit rooms, as well as when they were wearing sunglasses. “In addition,” writes Scientific American writer Cindi May, “visual darkness increased participants’ perceived distance from the confederate, and this increase in distance mediated the reduction in perceived risk of contagion in the dark. Their fear of non-contagious diseases did not depend on the lighting.”
You can read more about the duo’s research here.
The End of Non-Compete Clauses, and More – Toronto News
Representatives from some of Toronto’s strongest business schools have made many contributions to help better their communities this week. Check out some best stories from the week.
Restaurant Brands International to Review ‘No-Poach’ Franchise Agreements – Vancouver Courier
Restaurant Brands International, one of the largest global quick service restaurant companies, indicated that it may be re-thinking the ‘no-poach’ clause in employee contracts. ‘No-poach’ clauses (also known as non-compete clauses) prevent employees from one franchise location from moving to different competing franchise location within the same chain. Experts, including Maurice Mazerolle, Associate Professor at Ryerson University’s Ted Rogers School of Management, believe the clause prevents wage growth for people working in this field.
Restaurant Brands International, which operates Canadian-mega chain Tim Horton’s, may be ditching its “no-poach” clause for its employees.
“In theory, in a tight labour market it basically means you’re not going to be able to bid up wages to compete for those experience workers,” Mazerolle said in an interview with the Vancouver Courier.
Restaurant Brands International owns Canada staple Tim Hortons, as well as Burger King and Popeyes Louisiana Kitchen, with franchises in the U.S. and Canada. Representatives from the fast-food giant have said that they will be consulting their franchisee advisory boards to discuss changing the ‘no-poach’ clause in employee contracts.
You can read more about ‘no-poach’ franchise agreements here.
Medicine by Design and Creative Destruction Lab Partner to Accelerate the Commercialization of World-Class Research in Regenerative Medicine – Medicine by Design
Creative Destruction Lab (CDL), a seed-stage program for science and tech companies that was launched University of Toronto’s Rotman School of Management in 2012, has partnered with Medicine by Design to support the monetization of and nationwide access to regenerative medicine. CDL Executive Director Sonia Sennik said:
“The Creative Destruction Lab has a strong history of supporting health-based companies, and we are very excited to deepen this area of focus through our Health Stream. By partnering with Medicine by Design, we can expand a successful model to include companies on the cutting edge of cell therapy and regenerative medicine.”
Medicine by Design’s regenerative medicine initiative perfectly complements the CDL’s commitment to providing resources for health innovators. The CDL has locations in Vancouver, Calgary, Montreal, Halifax, and New York City.
Read more about the partnership here.
Recycling Provides Manufacturers With Economic Advantages, Study Say – Indiana University
Gal Raz, associate professor at Western University Canada’s Ivey Business School, and Gilvan C. Souza, professor at Indiana University’s Kelley School of Business, co-authored a study that appeared in Production and Operations Management. In the study, “Recycling As A Strategic Supply Source,” the researchers investigated how recycling could provide lucrative resources for companies in today’s changing supply market. The researchers found that recycling can prove to be a wise fiscal decision for companies in the metal cutting tool and inserts industry.
“Because you become your own supplier—you sell your products and you collect them and you recycle them—it gives you your own source of raw materials,” Souza said. The professors’ research showed that recycling can protect companies from changes in the market. According to Souza, recycling “insulates you from the volatility of the market, at least partially. You’re still buying some portion of your raw materials from the commodity market, which is volatile, but if that’s a smaller and smaller portion, then that’s a significant benefit.”
Read more about the recycling study here.
Future U.S. Relations, Fullbright Scholars, and More – Toronto News
As summer roles on through North America, lets take a look at what has been going on at Toronto’s business schools.
Lessons in Chinese History As America Shuts Off From the World – The Conversation
Walid Hejazi, International Business professor at University of Toronto’s Rotman School of Management, recently wrote about how the possible trajectory of the U.S. under President Trump would be similar to that of China’s downfall in the 1800s.
Hejazi warned that Trump’s isolationist actions, such as his rejection of the Trans Pacific Partnership and imposed tariffs on steel and aluminum imports, could close the U.S. off to the rest of the world.
“There is a clear contradiction between ‘make America great again’ and closing off from the world,” Hejazi wrote in The Conversation. “If the U.S. closes itself to the world, its future as a world leader in every way is at significant risk.”
You can read the entire Hejazi’s piece here.
CIBC Mellon Appoints Karen Rowe Chief Financial Officer – CIBC Mellon
Investment services company CIBC Mellon has announced that Karen Rowe will fill in as the brand new CFO. Rowe is also an acting member of the Advisory Council for the School of Accounting and Finance at Ryerson University’s Ted Rogers School of Management. In a recently released statement, Rowe says:
“CIBC Mellon is well-regarded by institutional investors as Canada’s leader in asset servicing, and I am proud to join the company and support its financial management. I am looking forward to contributing to CIBC Mellon’s strong operational execution, service excellence and continuous improvement.”
You can read more about Rowe’s role at CIBC Mellon here.
Fulbright Scholar Award Powers Adam Fremeth’s Energy Policy Research – News@Ivey
Ivey School of Business Associate Professor Adam Fremeth has been officially named as the newest Fullbright Canada Scholar Award winner—the first school recipient to earn the award since 1990. He will be joining Indiana University in the U.S. from January to May of next year, “where he’ll research how electric utility firms are interacting with state regulatory bodies as well as the impact of energy policies, particularly in the area of renewable energy,” according to an Ivey press release.
Ivey Associate Professor Adam Fremeth, the newest Fullbright Canada Scholar Award winner / Photo via ivey.uwo.ca
“A lot of my work deals with energy policy issues in the U.S. and being in Indiana and the Midwest more broadly allows me to get exposed to a lot more of those issues and to interact with, not just the academic community, but also the business and public policy communities they serve,” Fremeth said in the release. “I hope to bolster my research agenda, get some firsthand interactions in the areas I’m studying, as well as perhaps broaden my work with exposure to what people outside of Ivey and Canada are doing.”
You can read more about Fremeth’s work and the award here.
Ivey Promoting Women in Business, and More – Toronto News
It has been an exciting week for Toronto’s top business schools. Below, we’ve laid out some of the week’s highlights.
Business-Women: Forging A Path From Campus to Community – Western Gazette
Western University student Alina Huang started the business Illuminate, which provides resources for high schoolers aspiring to be entrepreneurs. Illuminate has partnered with Western University’s Ivey Business School, as well as Deloitte and Concentra Bank. Though she uses “white, male aliases” to avoid bias in her online business, she has found Western’s environment nurturing and inclusive.
In fact, Western offers Propel, an “accelerator and co-working space” that “offers entrepreneurs an inclusive space with mentorship, resources and potential for product testing on the student market.”
You can read more about Huang and Western’s approach to inclusivity here.
What Sector Is Brewing the Next Financial Crisis? – The Insurance & Investment Journal
The Insurance and Investment Journal recently featured an article which referenced a forum held at the University of Toronto Rotman School of Management last March. The forum featured Richard Sylla, Stern School of Business professor, who posited that there will be another financial crisis, as has been the pattern for nearly 300 years.
“In the build-up to a crisis … the Cassandras of the world – those who warned against it and financial historians like me – were shooed away and told: this time it’s different.”-Richard Sylla
Sylla suggested that financial crises can create their own opportunities, including profit for those who correctly predict the upcoming changes while other investors remain unaware. Crises can also lead to technological advances meant to prevent whatever has caused the crisis from recurring.
Read more about Sylla’s insight at the Rotman forum here.
Honorary Degree Recipient is All About Giving Back – Schulich News
This week, Dr. Narendra Singh, who graduated from York University’s Schulich School of Business with an EMBA in 2017, was awarded an Honorary Doctor of Laws. The Schulich grad practiced pediatric and neonatal healthcare around the world. In 2009, he founded Guyana Help The Kids (GHTK), which has markedly increased Guyana’s prenatal care resources.
“I’m receiving this Honorary Doctor of Laws, but I’m somewhat conflicted since my success is the combined effort of many people, some in the audience today, and so I would like to share this degree with them,” Singh says.
You can read more about Singh here.
