Lazy Faire January 2012 by Lazy Faire

For Business Students, by Business Students

LAZY FAIRE January 2012

JIQI

Electives! Electives! great options you never knew about

YANG expanding

the

Best Things to Bring to a

your horizons

NETWORKING Event!

INTERN

BOOSTER JUICEâ&#x20AC;&#x2122;s

101

LEN HOANG GREYBOX 1

Canâ&#x20AC;&#x2122;t get enough of us? For additional content, check out

www.lazyfairemagazine. blogspot.com 2

Editor’s Note

EDITORS’ NOTE

Karolina Zheng Editor-In-Chief kzheng2@ualberta.ca Lance Chung Content Editor lance1@ualberta.ca Ryan Jayatunge Design Editor rjayatun@ualberta.ca

Happy New Year! Another semester commences at the SoB as we return to our classes and once again begin the cycle of events, assignments, exams and group projects. January is a month of new beginnings and change as a new year begins. The theme for this month’s issue is “Opportunity” because it is important to discover and take advantage of the opportunities we find or are presented with. We can embark on opportunities by taking advantage of Internship programs and student events. Also, we can learn from opportunities embarked by others that encourage us to do the same. We have included interviews with Len Hoang from Booster Juice, the National Training Manager, and Betty Tam, one of the creators of Greybox to learn about their opportunities. In addition, we had the opportunity to meet and learn about Jiqi Yang, our student spotlight who has taken almost every opportunity she can throughout her time at the SoB! As the semester commences, good luck and have a great year! - Lazy Faire Editors

LAZY FAIRE TEAM Content Alex Manolii - Senior Contributor Braden Lauer - Senior Contributor Breanne Pisani - Senior Contributor Eileen Lee - Senior Contributor Paul Lopushinsky - Senior Contributor Matt Crowley - Senior Contributor Bonnie Truong - Senior Contributor Kristen LePage - Senior Contributor

Design Emily Wong - Creative Director Jeff Mah - Photographer & Creative Director Jenny Troung - Creative Director Matthew Alexander - Creative Director Nitasha Happy - Creative Director Sally Au - Senior Contributor & Creative Director Shirley Guo - Creative Director Tony Chiang - Creative Director

JANUARY Table of Contents

Academics

Business

14 06

BEST ELECTIVES TO TAKE - PART II

08 09

INTERNSHIPS

THE BUSINESS OF BUYING/SELLING TEXTBOOKS

YOUR GUIDE TO BUSINESS WEEK

14 15

GREYBOX

16 17

COMMUNITY SPOTLIGHT: BOOSTER JUICE

18 19

Student Life

CALENDAR

STUDENT SPOTLIGHT: JIQI YANG

ANTIFREEZE

WHAT TO BRING TO A NETWORKING EVENT

Lazy-Faire Magazine

lazyfairemagazine.blogspot.com 4

www.bsaonline.ca

@lazy_faire

Calendar

Sunday

Monday

Tuesday

January

BEA Week of Welcome

BSA Winter Booksale Begins BFA Mock Finance Interviews Begin

BFA Wall Street Prep JDCW

BSA Business Week BFA Mock Market Challenge Begins

BSA Winter Booksale Ends BEA Info Session

BEA Jasper Ski Trip

Wednesday

Thursday

Friday

Saturday

Upcoming in February...

EDGE Business Competition Feb 3-5 BEA Nation to Nation Feb 9

BSA Anti-Burnout BFA Mock Market Info Night

UAHRMA Info Session

BEA Nation 2 Nation Kickoff

JDCW

BFA Wall Street Prep JDCW

BEA Info Session

BSA Winter Gala

BFA Mock Finance Interviews Ends BEA Jasper Ski Trip BSA Speaker Series

BEA Jasper Ski Trip

Academics

lectives!

Choosing the right elective can be a difficult issue. Many students choose electives on subjects that they are interested in, others on enhancing their majors and career goals, and some choose courses for GPA boosting. Taking electives outside of business can show employers you are more well-rounded and also give you a break from some of those hectic business courses. Here are several courses within/out of business that we recommend:

By Sally Au

Language classes

are excellent electives to complement your studies. Despite the heavier work load, classes are always filled with fun activities and are never boring. Not only will you learn the language but also the country’s culture, traditions and customs. After taking any language class, you will definitely want to travel or study abroad! If you have a Chinese background, you will find Japanese especially easy to master, with many similarities in their use of kanji. If you have a French background, Spanish or Italian will be a good choice as they have similar grammatical rules and use many French cognates.

Bus 301- In this class, you’ll be able to

get hands-on experience on resume and cover letter skills, as well as career searching advice. Effective communication skills will be focused on, as you will learn both verbal and writing techniques. There are several assignments and presentations, but no midterms and finals, and by the end of the course you will be fully prepared for a variety of communication methods required in the workforce. It’s definitely a must-take elective!

Introduction to Family Finance (HECOL

Blaw 444 – If you liked taking Blaw 301

with Doug Peterson, then you will certainly enjoy his Blaw 444 class. You will learn more about laws and rules in an international business setting. You may have to read the textbook in detail to ace the exams, but his lectures are super interesting with real-life examples.

Social Psychology (PSYCH 241). This requires PSYCH 104 and 105. Do what you can to get Jeff Schimel for your class, as he’s pretty much the best professor ever. Class is very interesting in the subjects it covers, and Jeff makes it a blast as well as writing fair exams. It also helps that there are plenty of good looking girls in the class, as well as being a class outside of business. – Paul Lopushinsky

321) - In my opinion, HECOL 321 is a great course to take! Usually, finance courses at the School of Business focus on the corporate aspect, are full of nasty formulas and do not even touch on personal financial management. The course is full of knowledge from everyday budgeting techniques to estate planning, and has just the right dose of personal financial management concepts. Also, the professor is very enthusiastic, making every class worthwhile. – Intissar Mourad

Business

The Business of Buying and Selling Textbooks By: Braden Lauer for a sale (or face not selling your book at all).

Whenever a school semester comes to an end, it

brings with it a mad dash for the bookstores. For the students that have not yet burned all of their books and notes, the business of buying and selling books can become a huge obstacle.

BSA Book Sale:

This book sale is only at specific times (you can find the schedule on the BSA website), yet it is very effective for buying and selling your books due to the BSA’s knowledge of a fair used price. They also have the added advantage of a close proximity to the targeted audience (business students!) It works much like SUBtitles, but at a smaller scale; and if by the time the sale is done and your book has not sold, they will give it right back to you.

Textbook Renting:

The buzz about renting textbooks is starting to race around cam- Online Options: pus, but it isn’t as simple as needing a “library card”. If you don’t The connections you can make through the internet are endless. want to buy a textbook in full you can rent it from the UofA Book- If you want to buy books straight from a publisher you can get store – but the books will still come at a price. Depending on the reduced prices. If you want to buy from online auctions you may length of the rental term and the book itself, a student is going also find what you are looking for. Another great way to use the to have to pay anywhere from eighteen to fifty dollars to rent a internet is to connect to buyers through classifieds on the booktextbook. The process is as follows: the book is shipped to you, store’s websites. These classifieds connect buyers and sellers and you do not get to see what shape it is in before you get it, you use will lower the transaction cost by a ton. If someone is willing to the book until your term is up, and then you drop it off back at the put in the extra effort it takes there is potential to reduce book book store. Students do not get to recover any of the rental costs expenses by hundreds of dollars. and are fully liable for damages to the book. An up-side of this new renting system, however, is that for a relatively low price you get your books for the semester and then you can get rid of them without the stress of trying to make money Shop Around: Don’t be lazy and just dump all your money at from them. Late fees can rack up on your student account the bookstore. You can always save a ton by looking around though, so when your time with the book is done it is important to bring it back! The system is quite new so its actual before you buy, as well as before you sell. implementation and practicality are yet to be tested.

Quick, Lazy, and Fair tips!

Bookstore:

When University life is new to a student, it seems like the UofA Bookstore is the only option for buying textbooks. Though the prices often seem unfairly high, they almost always have what students need in stock, are conveniently located, and have all of the newest editions. If you want to easily get some cash back for a gently used book, this is also one of the most convenient ways to go.

Consignment (SUBtitles):

Consignment of your books at SUBtitles (in the basement of the Student’s Union Building) is an approach to selling books that takes a bit more patience. SUBtitles will put a fair asking price on your textbooks and display them for sale on their shelves for you. This allows buyers to get cheaper prices and sellers to make a bit more than they would at the usual buyback. The store does take a commission for connecting buyers and sellers, but it is still a great way to make more money if you are willing to wait

Share with a friend: If there are any books that you think you may only crack open a few times why not split the financial burden with a friend. As long as that friend learned to share in kindergarten you can cut the cost of a huge hardcover in half. Be wary of new editions: You do not want to fall victim to the new edition that makes all preceding editions worth dirt. To avoid a situation like this you may want to check around at the bookstore or do some background research on the author and the book. Be a true student of business: If you are going to consign, sell, or buy your book away from the big stores, do your research. If you know what prices are being asked at the various campus stores for used books you can undercut them to sell your books to other students, and you can always exercise your bargaining skills when it comes to books. 7

Internships 101

In recent years, internships have become essential components in an individual’s education. Not only do they provide a comprehensive view of life outside of school walls, but also a landscape ripe for seizing opportunities and expanding networks. We spoke with Paul McElhone, executive director of the School of Retailing and course coordinator for the SoB internship program (MARK 465), to gain some insight into the significance of an internship in today’s economic environment.

LF: What is the best thing that a student can do to secure a competitive internship? PM: The best thing a student can do is be 3-dimensional. The toughest placements we have are students that have a 4.0 GPA and have never done anything. Students that have demonstrated leadership, that have done volunteering, that have been involved in sports or the arts, that are very, very interesting in terms of their backgrounds, have all the best placements. LF: What is the importance of going on an internship? PM: There are a lot of important factors that go into building an internship program. Basically, it’s connecting students with potential employers to have real-world experiences and an opportunity to test drive the market, both for the student and the employer. LF: Do you think students should be paid for internships? PM: We insist on it, and our students are relatively well paid. All of our partners, at this point, are starting at a minimum of $15/hour, and some are paying as high as $20, which is good compensation for a summer job.

By Lance Chung LF: If a student is able to secure an internship, what are the most important factors that a student should consider in order to get the most out of their experience? PM: For a lot of students, those that benefit most are the ones that push the employer during the internship. It’s easy to get lost between the cracks when you’re in a company for 13 weeks, but if you push and have expectations in terms of mentorship, responsibility, and so on, the employers are hugely receptive. The comment that we constantly get from employers is that they are so impressed with how different our students are from other post-secondary institutions because our students have the ability to do huge volumes of work, have much better problem-solving skills, and a level of maturity that doesn’t typically exist in other institutions. LF: The subject of asking your employer for future opportunities can be a touchy subject, at times. Do you have any advice on how students can approach this topic? PM: In our particular case, with our partners, they know what the drill is. I’m quite upfront with them and say that these students are looking for career paths after graduation, and that this is an opportunity for each of you to earn the right to offer and be offered a job. If the students work out well, and the employer becomes an employer of choice, than it ends up being a win-win.

“

... to have real-world experiences and an opportunity to test drive the market, both for the student and the employer.

“

Academics

A Personal Account I was able to partake in MARK 465 during the summer as an intern at SHARP magazine, a men’s fashion and lifestyle publication situated in Toronto. To say that the experience was invaluable would be an understatement, as I was able to gain industry insight, receive exposure to rare opportunities, and expand my networks. Having spoken to others in the industry, I was able to discover that many were on their second and third internships. Long story short, get started early and be open to as many opportunities you can get your hands on! As a former intern, here are my tips for any of you wanting to explore this avenue.

LF: Can you tell us a little about the program, MARK 465*? PM: MARK 465 was started back in 1991 because the retailing sector was really having a bad rap. There was a lot of negativity in the marketplace in terms of anyone wanting to have a job in retailing because it was considered an accidental career. So, the whole reason for having these partners and starting the School of Retailing was to enhance the professionalism of the industry. Companies were seriously looking at their succession planning, and most had no plans. It became obvious that the next generation of talent in retailing needed to be well-educated. That’s why they partnered with the University of Alberta, as opposed to other institutions; the internship is a way for the industry to have access to this new generation of talent and for students to be exposed to these jobs.

1.Analyze the corporate culture: In my case, the work environment was a very casual and laid-back setting. As a result, work attire and conversation was a reflection of such. Understand the corporate culture of where you’re interning, know thy role and act the part! 2.Never say “no”: Under reasonable circumstances, never turn down any request that is asked of you. Undoubtedly, not everything you do will be something you actually want to do. However, your enthusiasm will show your supervisor that you are not only grateful to have been offered an intern position, but also open the door to opportunities in the future that may not have been offered otherwise. 3.Do not wait to be told: There is always work that needs to be done. If you have finished all your regular duties, take initiative and differentiate yourself from the other interns. Make suggestions, perform some research, and offer to help out in other areas. Your productivity will be evident. 4.Survey your environment: Depending on where you’re interning, you can really impress your supervisor by having up-to-date knowledge of current industry events that may be relevant to your duties. You will be taking that extra step to really show your enthusiasm, understanding of the environment, and increase the likelihood of being offered a position at the end of your internship. 5.Ask questions: Don’t be afraid to ask (appropriate) questions. It will show your supervisor that you are genuinely interested in the work that you are doing. Understand, however, that there is a difference between being inquisitive and being an annoyance. *There is a MARK 465 info session booked for Monday, January 23rd at 5pm in BUS 2-05.

Business

A Guide to the

BUSINESS WEEK!

Business Week, starting January 16th to the 20th, is one filled with fun challenges and activities, providing the opportunity to network, test your business knowledge, and enjoy some great food. It is organized by our BSA in appreciation for all your hard work over the past semester, and as congratulations on being in such a great faculty.

Apprentice Challenge!

First off, the Apprentice Challenge is a week-long event starting from the 16th until the 21st. Each day, twelve teams of 4 will be presented with different challenges which will test teamwork skills, business know-how, and the ability to persevere through new experiences. It’s similar to “the Apprentice” with Donald Trump, and the best part is the winning team receives a prize of $1000. All business students are welcome to participate, and first year students receive cohort points for doing so. Sign up is on a first come, first serve basis and the fee is $10. So what are you waiting for? Get a team, find an awesome theme, and come challenge yourself to BE THE NEXT APPRENTICE!

Beach Night

After that on the 18th there will be a Beach Night at 7pm, also located at the MBA Lounge. Come for some tacos and drinks, as well as a great opportunity to just hang out with your peers. It will be a night to reminisce the nice weather we don’t get enough of and pretend that it’s not below freezing outside.

Back Stage Pass

In addition to this weeklong event, each day there will be a separate event for individuals to compete in. Starting off on the 16th is the Backstage Pass event. This is an excellent, unrestricted job shadowing opportunity with chances to network with Next on the 17th we have industry professionals. It also allows students Oilers Night! Located in the to have a candid conversation with these proMBA Lounce where the fessionals and gain insight into how your maOilers’ game will be streamed, complete with jor ties in with your career path. food and swag giveaways! The festivities start at 5pm, so be sure to be there early to have a good time!

Oilers Night

Bar Night

Olympics And lastly on the 20th, Beer Olympics 7pm at Champs… need we say more?

On the 19th Apprentice Teams will be selling tickets for Bar Night. More details for this event are still to come!

Unfortunately we can’t spill all the details yet, but expect a night dedicated to watching the Oilers, eating some beer and tacos, and a collection of themed bar nights. As you get back into the routine of school, be on the lookout for more information about these events and how you can get involved. With so many awesome activities, be sure to mark your calendars and clear your schedules. Hope to see you there! 10

Student Life

ANTIFREEZE By Paul Lopushinsky

A new year brings a new semester - a time of getting back into school mode after the holiday break, catching up with friends, and adjusting to your new schedules, classes, and professors. Of course, the first couple of weeks of the semester are fairly quiet and gives students time to take part in other activities. Why not check out Antifreeze? We recently caught up with Brennan Murphy, the Student Programming Coordinator of the University of Alberta Student’s Union, to discuss Antifreeze. LF: Can you give a brief description of the events that will occur for Antifreeze. BM: This year there are 8 events spread out over 4 days. We have some events coming back from last year, and some new events. Events coming back from last year are Mixology, Happy Feet and Snow Dogs. Mixology is a bar tending competition that has been around since the first antifreeze and is always a hit. Happy Feet was the most popular event last year and is a dance competition that takes place on SUB Stage. Snow Dogs is a sledding race taking place in QUAD, where teams need to build their own sled and race around a track for the fastest time. New events are: Break the Ice: an obstacle course; Brain Freeze: a frozen food eating contest; Brain Thaw: a knowledge guessing game; License to Chill: an amazing race competition; and Polar Architect: a structure building game LF: What are some highlights from the previous years for Antifreeze? BM: The biggest highlight from last year was Happy Feet. Happy Feet was a brand new event that based on 1970 aerobic competitions. Teams definitely took this one seriously. It’s hard to describe, but check it out on our YouTube page (youtube.com/uasuevents). At one point, I turned around in my chair near the front of SUBstage, and there were about 900 people watching in SUB. It was mayhem. The UofA cheer team had an AntiFreeze team last year, and they were doing all these flips and lifts - it was really cool. But, the ceiling is not too high at SUBstage. I think the moment that stands out the most from last year is when the girl on their team hit her head on the ceiling of SUB. She was fine, but the way they played it off made it one of the more funnier moment of last year.

LF: How do people who compete in the events feel about Antifreeze? BM: I guess what I can say is that there are a core of about 15 teams that take part in AntiFreeze every year, and have been for the last 5 or 6 years. Once you get in, you keep coming back. Registration opened December 13th, and we had 22 teams lined up to sign up. All 22 of those teams were returning from last year, from various fraternities, sororities, and students groups.

LF: What kind of prizes are you giving out? BM: We give out a lot of prizes. You can win prizes for placing in any event, the sportsmanship prize or prizes for placing overall. Lots of the prizes are swag and various other goodies from sponsors, but the grand prize and the sportsmanship prize are always pretty big. We haven’t figured out what the prize will be this year yet, but last year the grand prize was a ski trip to Marmot ski hill for a weekend for the whole team.

To check out more, visit: http://www.su.ualberta.ca/eventsvenues/ antifreeze/ Antifreeze runs from January 9th to January 13th.

Student Life

What to Bring to a Networking Event By: Matt Crowley

Ever been to a networking event and got the creeps from somebody? You know, they were trying too hard, maybe had something in their teeth, or just plain gave you the willies? And if you didn’t notice that person was in the room, then dear reader - that person may just have been you! Networking is a critical component for, not only business individuals, but any professional, alike. From opening new doors to learning tricks of the trade, students will come to learn that networking is a critical skill that requires much practice and strategic thought. To help you out, we’ve come up with a list of essential networking tips that you can use anywhere from the boardroom to the bar when developing your business connections!

1. Be brilliant and brief

DON’T: “Yeah, so like yesterday I was walking my dog and my neighbor was like ‘you should pick that up’ and I was like ‘um, it’s biodegradable’…”

DO: Make a quick insight about the presentation (if there was one)

or the event. Talk about the speaker’s ideas. Talk about the things the other person is interested in talking about.

DO: “Yes, here is my card from my summer (part-time) job. And I’ll write my current cell on the card here for you, along with my email.”

4. Yes, sometimes you will look like an idiot.

If you have ever had the chance to meet one of your business heroes and turned into a blubbering groupie, chances are you’re within the majority. It happens. Just remember to breathe, introduce yourself, and make light of any mistakes you might have made. Sometimes, a good recovery is more impressive than a perfect presentation.

5. Dress to express

In a sea where formal and pressed is the standard, another suit or dress may not be enough to really stand out. While a pink suit is probably not the most conventional of ideas, try opting for attire that will showcase your personality in a professional, yet distinct way (this is where details come in). For the gents, if you feel so inclined, try a bright lapel flower or fitted, double-breasted suit. For the ladies, statement jewelry is always a great way to go. Just remember, balance is key!

2. Pick who you want to talk to before hand

DON’T: “Hi Chip, owner of Lululemon, I’m Matt, unemployed finance student.”

DO: “Hi Mr. Wilson, I was just wondering how you created a finan-

cially successful retail line without the typical chain-of-command in your stores?” If you know of specific individuals who are attending a networking event, it may also help to conduct a little background research beforehand. It’s possible that you may find things in common that can act as a great segue into conversation!

3. Bring a pen with your business cards

DON’T: “Yes, here is my card: as you can see from the perforations I printed it on my home computer, and yes, ‘Awesome’ is my full-time occupation.”

6. A reason why you met someone

If you make a contact you want to meet again, then you have to step up and ask for a meeting! No guts no glory! It’s best if you have a reason to follow-up with them, perhaps to ask more questions about the industry or to establish a stronger relationship.

7. Don’t be afraid to BLOW IT! Again, and again, and again!

Every room has its own atmosphere, its own stiffness, and its own unbreachable platitudes. It’s natural to feel restricted and stiff. The good news is everyone else feels this way too. Try people-watching the guys and gals who are really making it in the crowd. How they can pull off the not-funny jokes. How they smile when there is nothing to smile for. How they are approachable and friendly. And if it feels like work, you might be unlocking that magic sauce that puts the ‘work’ in networking. Earn those contacts and good luck!

Business

Lazy Faire: Who are the members of Greybox? Betty Tam: 3 of us are School of Business graduates and 2 are U of A computer science graduates. LF: What is Greybox? BT: There are a lot of good articles on the web right now. A lot of people read online, a lot of people write and a lot of people share. So what we’ve done is created a platform where users can share and consume these articles in a simple clutter-free manner. We’ve simplified the whole experience. It’s almost seamless. Greybox also allows users to curate their own collect-

ation because, if you look at the trend right now a lot of it is short status updates, 140 character or less twitter updates. But, how much can you really learn or communicate in so little text? We wanted to bring back articles, the fundamentals of how we learn and how we communicate with someone, like this conversation we’re having here. LF: Did you come across any difficulties throughout the process? How did you overcome them? BT: Countless! You learn as you go. I’ll give you this one example. We have a very limited budget when it comes to marketing, so there have been times where we had to go door to door literally like salespeople, at scorching 30

Insider: greybox Written by Bonnie Truong ions of articles on their profile, which they can then share with others. We put a lot of effort in designing the website to make sure that it is very different from other platforms out there. Sometimes we call it “twitter on steroids,” if you will. It’s a new concept we are trying to roll out here, where you can interact with others, respond to others, have your own profile, have your own collection of articles and create your own content. It sounds complicated, but trust me, it’s very intuitive to use. LF: How did the idea come around? BT: Everyone on our team is an avid reader online; the possibilities to learn and consume online are endless. We wanted to bring back a longer form of communic-

degree weather. And say out of 100 doors you knock on, maybe 10 people will pay attention to you and out of those 10 people, only 3 people will likely help you. That’s the reality of things. You just have to persevere. LF: How is Greybox different from Facebook and Twitter? BT: All it takes is for someone to go on for 5 minutes and realize exactly what makes us different. So I would suggest everyone to go on and you will find uses for it that even I can’t communicate.

Business

LF: What are the advantages for users? BT: There is no clutter, at all. It’s very clean. You know how on Facebook and Twitter, you have all these things that are in your face, all these different functions and the chat bar doesn’t even close now. What we do is we remove everything and just put words - what you want to learn or read in front of you. Simplicity is our advantage and our design is very different. Also, the depth in articles that you will find, the depth of learning or sort of discovery that you can find on Greybox is far more than what you can find on other platforms currently. LF: Do you have anything planned for the future as more users start to use Greybox?

BT: Right now we are focussing on the user experience and user acquisition. The thing with the technology industry is you constantly need to refine and improve. We have some things in mind. Once the community is there we have a lot more flexibility to play around with. We’re constantly focusing on taking feedback and gathering all the information and improving the experience. LF: What is it like to start a business? BT: When starting your own business, it’s very important to listen to what others are saying about it, but you can’t always listen to them. As what Steve Jobs would say, if we only listened to customers, then the iPod wouldn’t exist because the customer’s imagina-

tion is limited. then the iPod wouldn’t exist because the customer’s imagination is limited. After all, their job is to consume, not produce. So you have to take what the customers say and take it to the next level. Sometimes feedback is good but you can’t depend on it all the time. LF: What advice can you give to future students who are interested in entrepreneurship? BT: I think any advice to an entrepreneur is, if you fully believe in an idea, you can’t give up. You’ve got to persevere. You have to keep going. If one direction doesn’t work, you go to the next, and if that doesn’t work you keep going until you find one that works.

The thing about entrepreneurship is there are a million routes you can take, the possibilities are endless. But then, a lot of times they take you to dead ends or you quickly realize you went down the wrong path, and you’d have to reroute or take a detour. You’ll learn that once you get out of school that the real business world is actually tough, and it’s true what they say, that it is a lot harder. You’ll learn a lot of things they don’t teach you in school, that you can’t learn from a textbook.

www.greybox.co Learn more about greybox by visiting

Business

Booster Juice’s

Len Hoang By Alex Manolii

ooster Juice is Canada’s largest chain of fresh juice and smoothie bars. The company itself was started by co-founders Dale Wishewan and Jon Amack in 1999, in Sherwood Park Alberta, and currently has its headquarters in Edmonton. The company boasts around 300 stores in Canada, US, Mexico, Netherlands, Brazil, India and Saudi Arabia – with each of these markets having specific challenges. Our theme for the January issue of Lazy Faire is “Opportunity.” Booster Juice has definitely taken advantage of the opportunities it has had and has created many of its own opportunities as well. We had the chance to interview Len Hoang, the national training manager who works alongside the CEO in developing the guidelines, standards, etc. for the brand.

Lazy Faire: Can you start by telling us what your responsibilities are at Booster Juice? Len Hoang: My title is the national training manager, so I take care of all the training aspects and work in the operations department. The main part of my job is training all the new franchise owners and franchise partners in operating a store – from making a smoothie to hiring staff to making schedules and profit-loss reports. All of our new franchise owners will come to Edmonton for two weeks of training. Any franchise system you buy into will have training; some systems will go for 8 weeks of training for example. Our system is not as vast, so that’s why the right amount of time for us is two weeks. LF: How much has Booster Juice grown over the past couple of years? LH: The last couple of years we have opened up around 35-40 stores per year. In 2009, for example, I think we opened 41 stores. And right now we are sitting at around 300 stores worldwide.

Len Hoang and the Booster Juice Team 16

Business

LF: How much expansion do you anticipate in the upcoming future? LH: We project to grow at a rate of 30-35 stores per year. It clearly comes in spurts. You don’t open a store a week, or a store a month, but instead we have our high times and our low times. Generally, we have a lot of stores open before Christmas as well as the spring and summer. LF: What strategy has made Booster Juice so successful? LH: I think the key is that we saw a niche market originally with the smoothie industry. If you think about it, there was no real, true smoothie bar in Canada. When we came to the market, people realized the quality of our product – which we have focused on throughout.

a product that you can have when you are 65, as well as when you are 5 years old too. You can give a child a smoothie, but not a coffee. In other words, it’s a product that you can grow up with.

are holding up the brand and the im age in a positive manner. Ultimately, we want to make sure that every customer that enters our stores gets that “Booster Juice experience” and walks out the door happy.

LF: What challenges has Booster Juice faced as business has expanded? LH: There are many challenges. Whenever you grow, one challenge is distribution, especially in the food industry. The other is building relationships – with vendors, suppliers, even franchise owners. If you have a good relationship with a fran

LF: What does Booster Juice offer its customers? LH: Well, why do we go to any establishment? One, is we probably like the product, whether a smoothie or a cup of coffee or a pair of jeans. Two, we probably like the service. And of course, the third thing is a fun, safe environment. We try to provide all three of these things. We do not know what the consumer always wants, but we try to offer the best package possible.

LF: How did Booster Juice even know there was a market in the first place?

LF: What can we expect from Booster Juice in the future?

LH: Dale and Jon, our two cofounders, went to college together in the US. At the time, there was a huge smoothie craze going on. They talked to each other and asked “Is there anything like this in Canada?” because there was none, so they gave it a shot and it has been a success ever since. LF: What was Booster Juice’s original target market, and has that market changed over time? LH: I don’t think our target market has changed, but our customers have, themselves. We’re twelve years old as a company. The consumers that first enjoyed our product were in their twenties and thirties, but those twenties and thirties are now thirties and forties, and so just through time they are growing, and our target market is diversifying. The other thing is that this is

-chise owner, the next thing you know, they want to buy 3 more stores. A third is educating customers on the product, since it is a fairly new product.

LH: You will see us on a bigger scale. From the marketing side, for example, we signed José Bautista as our spokesperson for a threeyear deal, and we’re starting to sign more sports teams. You will see us in more markets as we continue to expand. In Edmonton, for example, we’ve opened two new stores in the past month. We have a mobile app on the way as well. We’ll continue to offer new products, and updating ourselves as we go into the future.

LF: How important is customer satisfaction?

LF: What advice might you share with Business students, if any?

LH: Of course, customer satisfaction is key, and we have many approaches to improve our customer satisfaction and our feedback rate. We like people to go online, and e-mail specific stores, or email our head offices with any feedback. We want to make sure that all the stores

LH: I think the one thing is to be passionate no matter what yo u do. If you are not passionate about something, find something to be passionate about. And of course, look for the opportunities and do not be afraid of risks. Go for it!

Business

Student Spotlight

Jiqi Yang This fall, the University of Alberta welcomed 2,789 international undergraduates to its campuses, marking a 20% jump from the previous fallâ&#x20AC;&#x2122;s recorded enrolment. With 9% of the current undergraduates at the UofA registered as international students, Lazy Faire was delighted to sit down with Jiqi Yang, an international student at the Alberta School of Business. A third year Accounting major about to complete her eight month Co-op placement at Enbridge, Jiqi shed some light on what it means to be an international student and the importance of getting involved outside the classroom and workplace, whether you are an international student, undergraduate, MBA, or simply someone who strives to seize a promising opportunity. Before we discuss your experiences as an international student at the SoB, could you tell us what extra-curricular activities you are involved in? I volunteer most of my time in SIFE- it is a new student group and I started as co-president of operations. I am also working for the Assistant Dean of International to set up some programs for international students to help them better their education. What was it that first attracted you to these activities? I heard about SIFE when I was in high school in China. In second year, our previous president introduced SIFE to the Alberta School of Business; thatâ&#x20AC;&#x2122;s why I got involved. This year, I didnâ&#x20AC;&#x2122;t do much in the Fall term and then one of my friends told me that our Assistant

Business

Dean was looking for someone to organize something for international students. When you look at the U of A, there are so many institutions helping international students with really basic things-where to hang out, what to eat, how to practice have activities for them. English-but not many teach you about this culture. This is why we came up with this idea. We also find that many international students are not confident. They can do a very good job, but just because of the language they do not have the confidence to talk to people. What we are going to do is have some workshops and dinners to teach these students to do some networking. I guess another big problem is that they are not pro-active and they don’t know how to search for that kind of information. We are going to let them know that it is important to be confident, pro-active and involved in business. It’s great to hear that the University dedicates multiple programs to support these students, but what about student clubs? The biggest barrier for international students is their language. They only speak with their families and friends so they don’t speak very good English and it is really hard for them to start. The International Student Centre and CAPS help them get jobs, find accommodations and practice their English, but I don’t think that’s the big problem. The first step for the student groups is to understand international students. Last year I worked with a program in Lister Centre for international students and I found a big problem is that most of the students here don’t really think to CHINA We’re interested to know more about your home country. Where in China are you from? I’m from Jiaxing, in the southeast part of China. It’s a small city so not too many people have heard of it. What is your favourite memory from your home town? Or what do you miss most? I think it’s going out with a group of friends for Karaoke (laughs)! We don’t usually go out for Karaoke here. Were there any aspects that you were glad to leave behind? The working environment. I did my internship in China as well, but there are a lot of people and competition is huge in China so they don’t really help you develop as a student. If you are a student, you just go do documentation. Here I am doing my Co-op with Enbridge right now and my supervisor will treat me like a regular employee. The best thing about Enbridge, and my team, is that they try to help me develop and learn more, so, besides my regular work, I went to volunteer for the United Way campaign and I volunteered for Habitat for Humanity- during work hours. And then I took a lot of training in Enbridge. I took Sharepoint training because it’s related to my work, and an ITIL (Infrastructure Library) certificate. And then I told my supervisor that I am interested in project management, so she sent me to the PMO training. They support you. I always tell my supervisor,

“Thank you so much for doing this” and she says, “Oh no, don’t thank me because this is part of my work” and so their culture is really good. I guess I am really lucky (laughs). CANADA What was your first impression when you came to Canada? It’s really cold! I don’t really see snow in my home town because it is in the southern part and it never snows. Overall, what was the transition period like and what was the most difficult part? When you don’t speak well in the language, you don’t really want to go out and use the language. In my first term here, I didn’t really talk to a lot of people and it was a very difficult time. The best thing for me was that I lived in Lister and so my good friend, and her friends who are immigrants to Canada, helped me a lot and they took me out for dinner and introduced me to more friends. And then when I came to the School of Business there were a lot of opportunities, like competitions and conferences. GPA is really important, but a main part of business is to network and meet people so I took those opportunities. I remember my first networking opportunity was a dinner organized by CESA. I didn’t really speak much that time, I was like, “Uhh, I don’t really know what to talk about”, but if you go to more and more networking events you will learn what to talk about and then how to ask for business cards and how to follow up after the event. OPPORTUNITY What opportunities have you experienced here that you think you may not have had access to if you hadn’t moved to Canada? I think people treat each other more equally. When I just started working for Enbridge, we would have a team meeting every week and I have a co-worker who was late one day. He came in and there were no more chairs left. In Asian culture, what you do is you usually go out to grab another chair and give it to your co-worker. I was going to do that, but my supervisor said, “No, stay there. It’s his fault because he is late. Don’t think that because you are a Co-op student that you are second class.” So I thought that that was a really good thing, because you treat each other equally and you get more opportunities. Do you have any piece of advice for international students, maybe something that you wish someone told you when you first started school here? Since Canada is a very diverse country, if you are an International student, you have that diversity, so don’t think it is bad or that you have to change anything just because you are in Canada. To fit in a diverse society is really hard and something that you have to constantly work at. You need to learn to lose face. I don’t know if people talk about that here, but you need to learn to not be shy and learn to make mistakes. Learn to take all of the advantages and take all of the opportunities you can in the School of Business.