York Schulich’s Groundbreaking Building Opens Its Doors, and More – Toronto
Toronto‘s finest business schools have spent the new year making positive contributions to the fast-changing world of business education. We’ve laid out some of the high points.
How Business Schools Are Adapting to the Changing World of Work – CBC News
In the age of information, the business arena is changing at record pace. In order to keep up, Canadian business schools are shifting focus from concrete skills to abstract ones. Creativity and innovation, for example, are at the forefront of the curriculum for schools like Western University Canada’s Ivey Business School. In fact, Ivey recently staff conducted 250 interviews with international industry leaders in order to glean which skills are in high demand in today’s marketplace.
“Although people do need to have the technical literacy that’s probably higher than before—the skills that are really demanded are the soft skills that will allow them to adapt,” says Mark Vandenbosch, acting Ivey Dean. Among the most important skills, Vandenbosch listed “creativity, grit, teamwork … and decision-making skills.”
“We provide a lot of support post graduation for those who want to come back at a later time to start a venture two, three, or four years later.”
Learn more about the demand for soft skills in the marketplaces here.
New Schulich School Building Opens at Toronto’s York University – Canadian Architect
On January 11, York University’s Schulich School of Business opened the doors of the Rob and Cheryl McEwen Graduate Study & Research Building. The building, designed by Baird Sampson, is among the most environmentally efficient academic buildings in North America. Funding from the Canadian Government’s Post-Secondary Institutions Strategic Investment Fund, Schulich’s Leading Change fundraising campaign, and a generous donation from Rob and Cheryl McEwen made the $50 million project possible.
The all new Rob and Cheryl McEwen Graduate Study & Research Building, opened Jan. 11 at the York University School of Business.
The building will house Schulich’s Research Office, as well as the Centre of Excellence in Responsible Business, the Schulich Centre for Global Enterprise, the Brookfield Centre in Real Estate and Infrastructure, and the newly-established Centre of Excellence in Business Analytics and Artificial Intelligence.
You can read more about the new York Schulich building addition here.
New Arrival to Canada Finds What He Was Missing – The Globe and Mail
Voyt Kryzchylkiewicz moved to Canada from Johannesburg to pursue his EMBA at University of Toronto’s Rotman School of Management and launch a business venture. In his first blog entry for EMBA Diary, he discusses those challenges and lessons of the past year of his life.
Before his move to Canada, Kryzchylkiewicz served as a board member at several companies in Europe and Africa. However, his experience with Canadian companies was limited, and he did not meet the criteria to be considered for similar positions in his new home. Kryzchylkiewcz entered Rotman with the hope of developing a professional network in Canada.
“While building my knowledge through Rotman has indeed proved valuable, the real benefits of the EMBA are the relationships that I have made, both business and personal,” Kryzchylkiewicz says. “This has already propelled my business forward and provided me with significant opportunities that I would not have had otherwise.”
Learn more about Kryzchylkiewicz’s experience here.
Rotman and Bocconi Design New Global Executive MBA, and More – Toronto News
Toronto’s best business schools have seen some exciting developments this week. We’ve laid out some highlights below.
New Partnership for a Global Executive MBA Program Announced by University of Toronto’s Rotman School of Management and SDA Bocconi School of Management – Rotman Media Centre
The University of Toronto’s Rotman School of Management is banding together with the SDA Bocconi School of Management to offer a Global Executive MBA (GEMBA). Students in the program have the opportunity to study at seven international business hubs, including Toronto and Milano. This program allows students to graduate with both and MBA from Rotman and a GEMBA from SDA Bocconi. Both institutions are enthusiastic about the opportunities this joint venture will present.
Alongside the Rotman School of Management, SDA Bocconi has recently introduced its brand new, joint GEMBA program.
Ferdinando Pennarola, Director of the SDA Bocconi Global EMBA program, says:
“The program will expand each participant’s global understanding and business skills, as it is delivered through a dynamic blend of classroom discussions, convenient self-paced learning, and valuable interactions with leading businesses around the globe.”
Find out more about the brand new Rotman and Bocconi Global EMBA here.
Courses Spring Up to Train Students in the Business of Bus – The Globe and Mail
As the cannabis industry in Canada expands, so too does the need for acknowledgement of the industry in business education. In response to this need, Ryerson University’s Ted Rogers School of Management has banded with the Chang School of Continuing Education to launch a course called The Business of Cannabis.
The creation of the course was spearheaded by Brad Poulos, Academic Coordinator of Entrepreneurship and Strategy at Ryerson. The course deals with the marketing, logistics, sale, and finance aspects of the cannabis business. The non-credit, 39-hour course (coded 420) is designed to help entrepreneurial students get a leg up in a relatively new industry.
Poulos, profiled in the Globe and Mail, says:
“There is a massive influx of people into [cannabis industry] jobs. With any other consumer good, there is already a huge pool of people to pull from, but that’s not the case here. What we’re trying to do is fast-track.”
You can read more about the cannabis course here.
Arcane Wins Prestigious Google Award For Work With Ivey – MARTECHSERIES
Marketing and analytics firm Arcane received the Search Innovation Award at the 2018 Google Premier Partner Awards, for its work with Western University Canada’s Ivey Business School. The award ceremony occurred at The Press Lounge in New York City.
“Over the past year and a half, the organizations have worked together to refine their digital marketing footprint and drive significant growth for their programs,” according to MARTECHSERIES. The award was based on innovative work with Google’s search advertisements. Arcane is the first Canadian agency to receive the prestigious award.
Ron Gallagher, Director of Marketing at Ivey Business School, says:
“I have been impressed by the innovation and impact of our partnership with Arcane. The Google Search Innovation Award is testament to Ivey’s progressive, results-oriented, and highly accountable approach. We are proud to see Arcane recognized for their digital marketing work with Ivey.”
You can find out more about the award and event 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.
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.
What MBAs Should Know About BMO Financial
BMO Financial Group, established in 1817 as Bank of Montreal, is one of the largest diversified financial service providers in North America. According to BMO, more than 45,000 employees serve the financial needs of more than 12 million customers. Continue reading…
