SEPTEMBER 2014
VOLUME 2, ISSUE 1
Quarterly Profit The DeGroote Commerce Magazine
Hamilton Economic Development: The Future of the Steel City
BACK IN BUSINESS
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Contents
4 LETTER FROM THE EDITOR 6 DEAN’S MESSAGE 7 ASSOCIATE DEAN’S MESSAGE 8 DEGROOTE COMMERCE SOCIETY 10 GET INVOLVED: CLUBS AT DEGROOTE 12 GET INVOLVED: COMMITTEES AT DEGROOTE 14 IN CONVERSATION WITH PROFESSOR MALIK 19 PART I - GRADUATES: WHERE ARE THEY NOW CHELSEA WHITE 20 THE WORLD CUP 2014 22 A STEP-BY-STEP GUIDE TO GET BACK INTO STUDY MODE 24 HAMILTON ECONOMIC DEVELOPMENT: THE FUTURE OF THE STEEL CITY 28 LOCAL BUSINESS: WILLY DOG’S JIM BONTAINE 30 SPACE EXPLORATION OR EXPLOITATION: A LOOK AT THE PRIVATIZATION OF SPACE TRAVEL 34 FROM RUSSIA WITH LOVE 36 CORPORATIONS & SOCIETY WITH BRENT MCKNIGHT 37 PART II - GRADUATES: WHERE ARE THEY NOW MARY CATHERINE QUINTIERI 38 INSIGHT ON LEADERSHIP WITH BOBBY UMAR 44 GENERATION SELFIE: A POSITIVE OR NEGATIVE SHIFT 46 BACK TO SCHOOL: SOCIAL MEDIA ETIQUETTE 48 STUDENTS OF DEGROOTE: WELCOME WEEK EDITION 50 GET INFORMED OUTSIDE THE CLASSROOM 51 PART III - GRADUATES: WHERE ARE THEY NOW ENJE KERIKES 52 CENTRE FOR BUSINESS CAREER DEVELOPMENT: SUMMER RECRUITMENT
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Quarterly Profit
Letter from the Editor
September 2014 | Volume 2, Issue 1
WELCOME BACK DEGROOTE! I hope that you all had a great summer and that you had the time to relax and take a much needed rest. Now that summer’s over and the cold breeze has started to permeate, I hope that you feel re-energized and ready to enter a new academic year! For many of you, a new school year brings in a new wave of academic aspirations. Akin to setting resolutions every first of January, students set new goals for self-betterment and improvement every beginning of September. Whether it’s to get more involved with clubs and societies, get more physically active by joining intramurals, or the ever-so-popular goal of improving the grade point average, I wish each and every one of you the best as you embark on another academic journey and take on the challenges that await you this year!
EDITOR-IN-CHIEF Joseph Cruz (‘16) MANAGING EDITORS Alexander Karpenko (‘15) Julia Dinh (‘16) IN-HOUSE WRITERS Imran Dhalla (‘16) Lauren Zylik (‘17) Rachel Mostert (‘15) DIRECTOR OF OPERATIONS Allan Chan (‘17) CREATIVE DIRECTOR Sajid Ali (‘16) LEAD DESIGNER Amy Cochrane (‘17) MARKETING DIRECTOR Marco Coccari (‘17) MARKETING ASSOCIATE Rebecca Snarry (‘16)
Contact us at: magazine@degrootecommerce.ca Visit us online: http://degrootecommerce.ca/about-us/ committees/quarterly-profit/
Last year, the magazine experienced great success with the two issues we released that received over 18,000 reads combined! So to continue our success, we are putting emphasis on having the magazine open to each and every student at DeGroote for the 2014-2015 academic year! For this reason, we decided to implement a freelance contributor aspect to our publication which allows all DeGroote students to contribute content on our issues. In doing so, we are really able to unify and cater to the unique needs of our faculty and staff, all while engaging student involvement! We invite all of you to be a part of our journey as we truly become a publication made by DeGroote students for DeGroote students! Our first issue for the year is entitled Back In Business. As you go back to school and to the routine of attending classes, doing group projects and assignments, and preparing for midterms and exams, the magazine hopes to become a source of inspiration and information to encourage and help you to make this year your best year yet! Whether you’ve been here for only a few weeks or it’s your last year at DeGroote, may this publication speak to you as you continue to pursue your dreams as a business student and future business leader! We are always open for collaboration and contribution. If you are interested in becoming a part of our journey as a student publication, or would like to share your thoughts and ideas with us, please feel free to contact us at magazine@degrootecommerce.ca. We’d love to hear from you! Cheers and good luck!
DISCLAIMER // All photos or logos used without sourcing are used in compliance with the Fair Use Law - for not-for-profit educational purposes. In no way do we assume ownership or affiliation with any images seen. If there are any questions or concerns, please contact us at: magazine@degrootecommerce.ca http://copyright.mcmaster.ca/Fair_Dealing
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Joseph Cruz, Editor-in-Chief
STUDENTS OF DEGROOTE PAGE 48
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DEAN’S MESSAGE
New Beginnings
“September always feels like the true ‘new year’ to me.”
Welcome DeGroote students to the new academic year! September always feels like the true ‘new year’ to me, as it’s the beginning of new classes, opportunities and experiences. The DeGroote School of Business provides you with a place to learn, to discover, and to connect, so make sure to take advantage of all that is available to you this year. Don’t just settle with the terrific knowledge you will learn inside the classroom; the experiential learning programs at DeGroote will ensure you are prepared to drive success as a business leader. Student organizations are also an integral part of your learning while here, and opportunities like exchanges and internships will enhance your learning even further. And as you prepare for your career, make sure to take advantage of the opportunities you have to connect with DeGroote alumni at our student-alumni networking events. Our DeGroote Network is over 17,000 strong, and some of these successful alumni will be interviewed and featured here in the Quarterly Profit. On behalf of all the faculty and staff at DeGroote, enjoy your time here, and I wish you every success in the coming year.
Dean Leonard Waverman
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ASSOCIATE DEAN’S MESSAGE
Opportunities Abound
“... you must take charge of your own learning and growth at DeGroote by being engaged, by being informed, and by being yourself.”
To returning DeGroote students, welcome back to another school year; to incoming Business I students, welcome to DeGroote! As we emphasize DeGroote as a place to learn, discover, and connect, you must take charge of your own learning and growth at DeGroote by being engaged, by being informed, and by being yourself. First, with many learning opportunities at DeGroote, such as experiential learning, internships, and exchange programs, your engagement in the classroom, in experiential learning, in student organizations, and in leadership roles will enhance your learning. Second, you need to take initiative to stay informed available learning opportunities and the support available to you at DeGroote through the Student Experience offices, such as the APO and the CBCD, and at the many student support offices at McMaster such as the Student Success Centre and the Student Accessibility Services. Third, as you embark on a lifetime journey of learning, make sure that you enjoy learning business at DeGroote, and that what we offer here is a good fit for you. I describe DeGroote as a place of growth; I grew professionally and academically during my last ten years here; I have witnessed students grow from freshmen to very successful business professionals. I cannot wait to see you grow at DeGroote. Dr. Emad Mohammad Associate Dean (Academic)
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Mahmoud Al-Awawdeh President
Your time here will be filled with incredible experiences, memoires, and friendships and it’s my pleasure to introduce you to it. And to all of those who are returning, welcome back, we’ve missed having you around!
Hello DeGroote! I hope that you have all had an enjoyable and refreshing summer and are pumped for the 2014/15 year! DeGroote has a lot in store for you and I hope that you all have the chance to join us in new and exciting events this year! To those of you, who are beginning your journey here at DeGroote, allow me to extend to you a very special warm welcome.
When I first came to McMaster, I recall being nervous and excited, and the right mix of those two emotions will guarantee you a great year. You’ll be relieved to hear that the nerves will die down and you’ll quickly be a part of the DeGroote and McMaster family. With that, I’d like to pass onto you some valuable pieces of advice: Put yourself out there. University is a time to reach out and get involved with the opportunities that are available! In one way or another, no matter how big or small. It’s an experience that you will love and should make the most of! Not only will you enjoy your time, but you’ll have found yourself with a strong group of friends, and learned new things on the way.
Keep exploring. Take the time this year to get involved, enjoy the events and meet as many people as possibl. Keep an open mind, and try new things. You just might stumble across some passions and interests that you didn’t know existed! McMaster is such diverse school, this is the perfect time to do so. I have a few favours to ask each of you: First and foremost, look through our website and social media! Here you can find more information on the DCS, DeGroote Clubs, committees, upcoming events and much more! Introduce yourself to the DCS executive team and myself as soon as possible! We are here to serve you, and want to see you get the most out of your school experience.I wish you all the best in your upcoming year. If you guys have any questions about the DCS, or maybe you want to hear more about DeGroote in general, feel free to stop me around campus, e-mail me and say hi!
Jennifer Manna- Chief Operating Officer
Victoria Keire- Chief Financial Officer
My name is Jennifer Manna and I am so honoured to be the Chief Operating Officer (COO) on the DeGroote Commerce Society (DCS) for the 2014/2015 academic year! My role is to work closely with nine committees to help them reach their visions, and to create the best possible events for all commerce students. If you have any ideas, questions, concerns or would like to know how to get involved, please feel free to contact me or say hello when you see me around campus! I look forward to working with you guys this upcoming year and seeing each of you get involved. Wishing you a successful academic year! Make it the best one yet!
Welcome Commies! Congratulations on beginning this exciting new chapter of your life! University is a place of opportunity and I urge you take advantage of it. From academia, athletics and social programs I am sure there is something for you. DeGroote and McMaster provide you with the resources to build yourself to enter the workforce successfully. The DeGroote Commerce Society is here to assist you in making the most of your university career. Take some time and come talk to any of the nine members of the DCS. Don’t ever be hesitant to come chat!
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Scott Rethoret- VP Internal Relations
Allan Chan- VP Academic
I will be your Vice President of Internal Relations for the upcoming school year at DeGroote. Let’s make this year the best yet. Explore new interests, meet tons of people, join an intramural sport, and however don’t forget to continue doing what you love, whatever that may be. Please do not hesitate to contact me with any questions, comments or concerns about anything, this school is filled with people who are eager and happy to help. DeGroote also has so many opportunities to get involved, to grow and enjoy your university experience. To leave you with a cheesy quote, “Do what others don’t, to do what others can’t”.
We find ourselves at the start of another exciting journey. Welcome to the DeGroote School of Business! Studying at DeGroote is a new experience every year for all students, new and old, alike. I hope that you will all take advantage of the opportunities our wonderful school has to offer. It could be participating in a committee, joining clubs, attending professional workshops, having an internship, or simply getting to know your professors. It doesn’t matter, just get involved and enrich your experience in such a way that when you come out of DeGroote, you can proudly say that you had a good ROI. All the best!
Matthew McCaig- VP Events
Jethro Krause- VP External Relations
My name is Matthew McCaig and I have the privilege of representing you as Vice President, Events. I had the opportunity to be a part of second year council last year and that has given me the passion and experience that I need to plan and execute some incredible events this year. This year is going to be jam packed with exciting opportunities for everyone, and it is all possible because of our incredible student body. I hope to bring added value to the types of events we are able to run and I hope to see new faces at each and every one. I look forward to seeing you all throughout the year! If you every have any questions, concerns, or ideas please let me know! Stay awesome commies!
My name is Jethro (Jay) Krause, and I am serving on the DCS as the Vice-President External Relations. In my role, I will act as a liaison between DeGroote and external parties, namely corporate partners, McMaster University, and DeGroote Alumni through fostering and building relationships. In addition, I will strive to constantly develop DeGroote’s external portfolio through students’ attendance of conferences and corporate events, and help deliver success in competitions nationwide. I am incredibly excited for the year ahead and all that is in store for each of us. If you have any questions, ideas, or just feel like chatting, please feel free to stop me and say hi if you see me around!
Luisa Cicconi- VP Marketing
Nour Issa- VP Administrative & HR
Hey Commies, I’m your VP of Marketing for the upcoming year. I am in my third year, and have been involved in the DCS since September of my second year. I am so looking forward to bringing all the exciting opportunities to you this year, and getting you involved in whatever way interests you! My Marketing Team and I have lots of ideas we hope to implement this year, and can’t wait to see you just as involved as we are!
DeGroote, prepare yourselves for an amazing year ahead! I am in third year and my role for the upcoming year will revolve around recruitment and selection for various positions within and related to the DCS; these range from hiring fairs to interviews. I will also be in charge of selecting candidates for the DCS reimbursement program. Lastly, I will be conducting internal performance appraisals and several other administrative tasks. Don’t ever hesitate to e-mail me, come by the DCS office or stop me around campus, I would love to chat! I look forward to an incredible year!
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GET INVOLVED C l u b s
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INFORMATION SYSTEMS
HUMAN RESOURCES
The DeGroote Association for Informations Systems is designed to encourage the pursuit of information systems excellence within the DeGroote School of Business, offer information systems career and technology information to its members, and provide networking opportunities to those interested in information systems.
The DeGroote Human Resources Association provides students with the opportunity to learn about the Human Resources Profession outside of the classroom. We provide a platform to engage students with industry professionals through 1 on 1 networking and interactive speaker series which are discussion panels led by HR Professionals.
How to Join
We will be in the DCS lobby the week of September 8th for members to sign up.
How to Join
Thinking of becoming a member? Find us at Clubsfest, the DCS Cookout, or the DSB lobby.
How to Contact Us
How to Contact Us
Courtney Wittmann: wittmac@mcmaster.ca Julien Kling: klingj@mcmaster.ca
dhra@degroote.mcmaster.ca www.dhra.ca www.facebook.com/groups/dhra.mcmaster/
MARKETING
WHY HELLO THERE, YOUNG MARKETEER! Fancy being part of the most innovative and experiential business club on campus? Then you should check out the DeGroote Marketing Association! The DMA seeks to provide real-world learning opportunities to all DeGroote students and its members. At the DMA, we’re passionate about marketing and want to take every opportunity to share insights and experiences with our fellow marketeers. We will be hosting a collection of exciting events from our first year competition in October, ‘Let’s Do Business’, to our flagship program & conference in second semester, ‘MARS Mix’. We’ll also be having various social events throughout the year as well as our annual general
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meetings (AGMs) in order to connect general members with the Exec team and get keen students involved as much as possible.
How to Join
Anyone can join our team as a general member during Welcome Week and at AGMs, and first years even have a shot at a spot on our executive team through our ‘Interns’ program which kicks off at the start of first semester.
How to Contact Us
If you’ve got questions, we’re happy to have a chat. Shoot us an email at dma.admin@gmail.com, Send us a Tweet at @DMAatmac, or message us on Facebook (facebook.com/degrootemarketing).
INVESTMENT MacIC is a student operated and funded investment Club with over $60,000 of assets under management. Investment Club provides McMaster students with a unique hands-on learning experience in the Capital Markets industry. The club pools money from sponsors, corporate investors and individual investors with aim to maximize investment return, and encourages general members to actively participate to further their investment knowledge. damental analysis, and fixed income.
How to Join
Check out our website at www.macic.ca
How to Contact Us
https://www.facebook.com/macinvestmentclub
ACCOUNTING The DeGroote Accounting Association (DAA) is a student run organization within the DeGroote School of Business whose main focus is to promote and generate awareness of the accounting profession to the McMaster community. We represent those students who are interested in pursuing an accounting designation. As the popularity of the accounting profession continues to grow, so does the importance of the DAA as a channel for organizations to interact with the leaders of tomorrow.
How to Join
Check out our website at: www.degrooteaccounting.com
How to Contact Us
https://www.facebook.com/DegrooteAccounting
FINANCE
OPERATIONS
The DeGroote Finance Association (DFA) is one of the largest and most enduring clubs at McMaster University. It attracts over 150 undergraduate business students as members every year and the club’s establishment dates back to 1985. The association operates under the DeGroote Commerce Society and is sponsored by faculty, supported by the Centre for Business Career Development, and lead by a team of undergraduate business students. The DFA operates events from September through April every year and these are focused on providing learning and networking opportunities with financial institutions for students interested in pursuing a career in the field of finance.
The DeGroote Operations Association (DOA) aims to provide undergraduate Commerce students valuable insight into the industry of Operations Management. The purpose of this association will be to provide students insight into Operations and Supply Chain Management. This critical business function continues to increase in strategic importance for major companies. This association will increase the awareness and understanding, exploring the Operations Management department at DeGroote while learning about Purchasing, Demand and Supply Planning, Warehousing and Logistics.
How to Join
We will be selling memberships at Clubsfest, the DCS cookout, at our first meeting and throughout the first few weeks of school in the DSB lobby.
How to Contact Us
For more information, you can contact us at info@ degrootefinance.com or check out our website, http:// degrootefinance.com/.
How to Join
Please contact us if you’re interested in joining.
How to Contact Us
If you have any further questions or would like to be a part of the DOA please contact, admin@doamcmaster.com.
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GET INVOLVED C o m m i t t e e s
ACADEMIC AWARENESS CONFERENCE Are you still thinking of which path to pursue in commerce? Do you know all the paths available? Fear not! The Academic Awareness Conference (AAC) is a daylong event showcasing all that the DeGroote School of Business (DSB) has to offer. Date: Thursday September 25th Venue: Celebration Hall Price: $5.00
GREENSUITS We are the leaders that make Welcome Week for the Commerce faculty happen! Welcome Week is a combination of energetic leaders, events, activities, loud cheers, faculty pride, friendships, and the most memorable week for all first year students! Our purpose as Planners and representatives of the Commerce faculty is to make the transition of incoming first year students easy, comfortable, fun, and memorable. We want every student to succeed within the DeGroote family and show Commerce pride! Want to be a part of the Greensuit family? We welcome all Commerce students to apply! Planners are chosen during the beginning of March.
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COMMERCE FORMAL The Commerce Formal 2015 Committee is prepping for an amazing formal event this year! The theme is yet to be officially revealed, but you definitely don’t want to miss out on this amazing evening. Please send us all your thoughts and suggestions about how we can make YOUR Commerce Formal an unforgettable night. Volunteer positions will also be available in September for anyone interested in helping with the behind the scenes of the formal.
JDCC JDC Central is one of the most prestigious Canadian commerce competitions in which 14 business schools across Canada compete for the title “School of the Year”. In this three day event that will be held in Downtown Toronto in January 2015, students will compete in challenging academic case studies, professionally intensive debates, vigorous sports tournaments, and spirit filled social challenges. Forty of our most passionate, intelligent, and creative DeGroote students will go through extensive training in their own field of the competition through the months of September to January in preparation for the competition. JDCC DeGroote will be HIRING all Delegates in the first two weeks of September 2014.
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DEGROOTE IMPACT As upcoming business leaders our duty is to protect the community and create a sustainable future. DeGroote Impact is a committee operating under the DeGroote Commerce society that strives to encourage students to become actively involved in their local environment and make a difference. DeGroote Impact is a charitable organization and thrives off the support of its volunteers and team members. We will be hiring two event coordinators during September and we’d love for you to be a part of our team, so check the DCS website for updates. We would also love for you to volunteer at one of our events, so get on our mailing list!
QUARTERLY PROFIT Quarterly Profit is the official DeGroote Commerce magazine that publishes four themed issues throughout the school year. The magazine intends to enhance the students’ experience and aims to play a meaningful role in student life and development by providing uniquely interesting and inspiring content that will enhance their DeGroote experience as well as assist them with their endeavors as business students and future business leaders. Last year, the magazine experienced great success with the two issues it released that received over 18,000 reads combined! With the help of the DeGroote Commerce Society and external sponsors, Quarterly Profit is able thrive and continue to become a tool for students to enhance their university experience and assist them as they move forward to becoming future business leaders! Look out for the rest of our issues in November, February, and April!
DEGROOTE BUSINESS CHALLENGE The DeGroote Business Challenge (DBC) is an annual case competition open to all DeGroote students. This experiential learning program gives students the opportunity to apply the concepts they learn in the classroom to real life cases, and further develop their teamwork, critical-thinking, and problem solving skills. We will also incorporate a series of training sessions and practice cases, called the “Challenge Series.” Leading up to the competition day, this month long initiative will run training sessions on topics such as presentation and case analysis skills, a series of practice cases, as well as a mock case competition. #AcceptTheChallenge If you are interested in joining DBC this year, come to our information sessions which will be held on September 30th and October 2nd. Additional questions can be sent to businesschal-
YEARBOOK COMMITTEE
You have spent your time at McMaster making memories; it’s our job to preserve them. We want to help you remember the all-nighters spent writing reports for Rita Cossa, cramming for Friday night exams (only to finish and realize that you have two more on Saturday). We want this yearbook to remind you of all the great friends you have made and the fun times that you shared in your experience at DeGroote. The only way for the yearbook to be a great memory and representative of your time at McMaster is if YOU submit pictures. The yearbook is a memento for EVERY Commerce graduate. It is included in your tuition fees so take advantage of this opportunity to get youself in the yearbook this coming year! We need your photos and your stories to make this yearbook meaningful to you. Help us create a yearbook that represents YOU!
GRADUATION COMMITTEE The Grad Formal is the social event of the year – a time to celebrate the memories made over the past 4 years. Over the course of the year our committee is dedicated to creating a night that will be one to remember. Our hope for the students attending this formal is to indulge in great food, great music and even better company. This event will be the last chance for many undergrads to enjoy a night with their friends, peers and professors who have had a tremendous impact on their learning and growth during post-secondary education. We are looking for a team who is able to make all of the above a reality! If you are enthusiastic, creative and know how to have a good time then we need you. Let’s work together to plan the party no one will forget!
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FEATURED FACULTY
IN CONVERSATION WITH PROFESSOR MALIK INTERVIEW BY JOSEPH CRUZ Professor Mandeep Malik teaches Applied Marketing Management and Sales Management at the undergraduate level and Consultative Selling in the MBA program at the DeGroote School of Business. He is a highly regarded academic who is known for being a strong proponent of innovative experiential learning programs at DeGroote. Some of the programs he manages are MARS Apprentice, Canada’s Next Top Ad Exec, Focus 2040, High School Business Heroes and Let’s Do Business. He has won numerous awards over the years including the prestigious provincial LIFT Award for top faculty in Ontario, Presidents Award of Excellence in Teaching and he is a three-time recipient of the McMaster University Student Union Award for Outstanding Professor of the Year. The Quarterly Profit team had the privilege to get a one-on-one interview with Professor Malik as he reflected on his life and career.
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How did you get into specializing What brought you to DeGroote in Marketing and Sales? School of Business? After all your previous success in life, When I finished my undergrad- what drew you specifically to uate degree, I hadn’t really stud- McMaster University? ied for a career in Marketing or Sales. I saw a lot of opportunities I started my career in 1983. My first for work in this domain and start- fifteen years were in India where I ed off as a management trainee in worked in Sales, Marketing, Cona small organization in India. And sulting, and Training. In 1999, I that’s when I realized that this is decided to move to Canada after one aspect of business that really having spent a few years on the edenthralls me because the field is so ucation side in Australia. Once we dynamic and so unpredictable. You came here, that’s when, given my are the face of the organization as Australian exposure to academia, a marketing manager or as a sales I started exploring work as an acaperson. You have an opportunity to demic. Before this, I had never reinfluence the bottom line and that’s ally thought that I would build a cawhat drew my passion and that’s reer as an academic since my early why I decided that this was the field years were focused on marketing; I was going to make my career in. brand management, product manLater on, I went to do a graduate agement, and my later years were in consulting and business development as an organizational leader. So once I moved here, the opportu“...students should not be nity at McMaster came about very mere observers and quickly and I soon realized how passionately I felt about being part witnesses to their own of a learning environment wherein education in their I could be a student, a teacher, a university years. They participant in the learning journey need to be active all of which was very meaningful participants in the to me.
has such a positive impact in one’s education and university experience?
The value of experiential learning really lies in understanding that students should not be mere observers and witnesses to their own education in their university years. They need to be active participants in the learning process. In fact, they need to be co-producers of the learning outcomes that they desire. That is the intent with which I introduced experiential learning programs and this was based on a conclusion I arrived at after being at DeGroote for four years, realizing that students were going through the motions of attending classes, writing exams, and completing assignments, but not really seeing the application and the value of what they we’re learning in the classroom. As a teacher and instructor, I wanted them to believe in what was being taught in the classroom and I wanted this belief to develop before they graduated. When I looked at this problem and how I can address it, I realized that the best way is to create an experiential environment, a simulation setting where students learning process.” can understand business problems Being a man of immense involve- in context of their existing knowlment in the business community edge, develop solutions without the and a strong proponent of experi- fear of failing, and within the safe degree that helped me specialize in ential learning within DeGroote, confines of the school. In doing so, this domain and strengthen my ca- what do you think is the reason it would give students the confias to why experiential learning dence and the readiness to take on reer and growth prospects.
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challenges once they graduate. As the visionary of numerous successful experiential learning programs at DeGroote, please tell us about the programs that you have initiated within the school and what you envisioned these programs to be. First of all, I think that the ownership of the programs is a shared vision. Although I introduced some ideas but a lot of these ideas came from students themselves. It’s fair to say that my vision was to empower students to become co-producers in the educational process and to make them take responsibility for the learning outcomes they desire. Sure, I introduced certain ideas such has conceptualizing the four pillars of MARS – Marketing, Advertising, Retail, and Sales, and the idea behind Canada’s Next Top Ad Exec but when you look at programs such as Let’s Do Business, that was an idea that was introduced by a student and I just helped build the blueprint for it. Even for MARS Apprentice, the seed was planted by a student who came and said we need to do something in a competitive framework and so I worked with her in building the blueprint, got buy-ins from industry and even though she graduated, I continued working with a team of 3 or 4 students to then execute the idea and refine it. So I think that it
would be really unfair to say that ada and 10 or 20 years from now, it was all me because it was very these are individuals who will be much a shared journey. likely working together and they If you can give an all-encompassing answer, what is one thing that you hope students gain participating in these programs? When students graduate from DeGroote, I want them to be confident in starting out their career as business professionals. I want them to believe in their leadership abilities, I want them to be innovative thinkers, but most importantly, I want them to be continuous learners. Individuals who can take any problem, break it down, and develop a solution to that problem or a few solutions and then pick one based on which is the most efficient or will give the best return on investment. In a sense, that’s what these programs do – it shows students how they can take their knowledge and apply it, how they can become skillful at solving business problems, how they can enjoy the process of learning and remain committed life-long learners – and that’s where the real value lies for these experiential learning programs. Beyond that, when you look at our national programs such as Canada’s Next Top Ad Exec or Focus 2040, these programs create a network that drives peer-based learning. It connects our students to other students from all over Can-
“My success, my growth, my accomplishments are really tied to what my students achieve and that’s where my pride comes from.” will be better because they have had shared learning experiences. With your numerous accomplishments as a business leader and professor, is there a particular accomplishment/work/recognition that you are most proud of? I really gain my satisfaction from the achievements of my students. My success, my growth, my accomplishments are really tied to what my students achieve and that’s where my pride comes from. I love my work and I enjoy being at school, being in the classroom, and being involved in these programs. And then, when students graduate, I love seeing them finding careers that they are passionate about, I love seeing them grow and be recognized for their work, so that’s where my motivation comes from and where my sense of accomplishment lies – in the success
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stories that students are creating for themselves.
with the school in the near future?
Looking back, what are the defining experiences in your life that have had a significant and positive impact on the way you look at life and the field of business?
I love the fact that DeGroote is part of the McMaster family. McMaster has a long history as an innovative school and is well recognized for creating learning methodologies that have been adopted all over the world. Whether it’s problem based learning or the process involved in selecting students for the medical school, there are unique ways in which McMaster has changed how education is administered and consumed. What I really like to see is some of those successes that have happened in other parts of the university be adopted and deployed at DeGroote so that we can continue to grow and become better as a school. At the end of the day, what really makes us effective is how our students and alumni feel about DeGroote. More than anything else, I would like our students to develop a sense of pride in the institution, stay connected with the institution, and realize that even though you graduate, you never really cut the cord from the institution because you as an alumnus will continue to shape it for years to come.
I think it would be my early years in marketing, branding, and brand management. Those years really gave me a love for the field of marketing and gave me a sensibility about marketing that was developed from hands-on experience rather than what I learned in the books and in the classroom. Subsequently, I worked 6 or 7 years in consulting and that really planted in me this framework of always seeking out ways of improving things because I was continuously working with a diverse group of customers. I always had new problems to deal with for these customers, be it in marketing, sales effectiveness, sales management, or leadership and coaching. I think that’s what made me hungry to seek out better ways of doing what I was involved with and that helped me change how I administer the learning experience at DeGroote. As a professor for both the undergraduate and MBA level at the DeGroote School of Business, what do you hope to see happen
What is your message to the student body of the DeGroote School of Business? What is the most important advice you can give to the Commerce students at McMaster?
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If there’s one thing I can say is that you have to love what you do. It’s often repeated by entrepreneurs that if you’re passionate about your idea, you will be successful. As you go through all stages of life, you have to remember that you have to be passionate about the moments you’re living in. The 4 years that you’re an undergraduate student or the 2 to 3 years that you’re an MBA student, be passionate about the learning journey. Take responsibility for the outcomes that you want for yourself. Grades are important but grades often do not reflect the learning value that you are gaining. So if you focus on learning and you want to be a co-producer of the learning outcomes that you want, the grades will follow. If you start chasing grades then they always become evasive. So come here as a passionate student, come here as a motivated student, come here as a student who takes responsibility in the learning journey and shares in the outcomes that they are seeking and you’ll end up creating value for yourself, for you peers, for your instructors, and for the institution.
GRADUATES: WHERE ARE THEY NOW - PART I
Chelsea White Current position: Program Coordinator at Advanced Gerontological Education Inc., Hamilton Health Sciences Year of graduation: 2012 Highlights of your DeGroote experience: Ahhh... where to begin?! I have so many fond memories of DeGroote. One of my favourite memories was meeting Professor Malik, Assistant Professor of Marketing at DeGroote, while competing in DeGroote’s High School Business Heroes competition in grade eleven. He became my closest advisor and I still look up to him to this very day. He encouraged me to get involved outside of the classroom in a number of DeGroote’s extracurricular programs in my Undergraduate career, which became the highlights of my DeGroote experience. Under his guidance, I Co-Chaired the regional High School Business Heroes competition and the national Focus 2040 competition, which allowed me to work with industry professionals, academia and student leaders across Canada – all of whom I still keep in touch with to this very day. It was through these programs that I became the businesswoman I am today and made such life-long relationships. How has DeGroote helped you in the career path you’ve chosen? DeGroote has helped me in my career path because of the real life experiences I gained while participating in DeGroote’s extracurricular activities. It was through Co-Chairing High School Business Heroes and Focus 2040 that I learned the valuable life skills of time and stress management, leadership, teamwork, organization and event coordination, which have all transpired to my work life. In fact, I often get commended by colleagues and clients across Canada for having such a wide skill set at such a young age – and it’s DeGroote that I have to thank for that. What is your advice to current/incoming DeGroote students: Get involved! Join DeGroote’s clubs, committees, competitions and other extracurricular programs as early as possible. Whether you’re into Marketing, Human Resources, Finance, Accounting, you name it – there is something for you. It’s through these programs that you’ll get the most out of your DeGroote experience, for you’ll be a part of DeGroote’s student community and gain the practical skills you need to succeed after graduation.
September 2014 | Quarterly Profit | 19
The world cup 2014 WORDS // IMRAN DHALLA
The World Cup 2014, arguably the most-popular sporting event in the world after the Olympics, is an exhibition filled with joy, tears, and the occasional cannibalism… An event with a global culture, soccer has evolved to become a religion in many regions of the world, with millions of people preparing for it every four years. Some, with tremendous amounts of faith, journey thousands of miles to watch and cheer for their local national team, in hopes of attaining the “The Holy Grail” of professional sports. The 2014 World Cup hosted by Brazil has generated a whopping $4 billion in revenues, 66% more than the previous 2010 World Cup in South Africa through television rights, marketing rights and brand licensing, which includes partnerships with global brands like Adidas, Coca-Cola, Visa and Budweiser. Despite the colossal net benefit in hosting such an event, is an investment in heavy infrastructure worth it?
FIFA
Excessive Stadium Costs
To fully understand the root concerns of the economic impacts of the World Cup, it’s important to understand the organization responsible behind the scenes. The Fédération Internationale de Football Association (FIFA), a comically grotesque organization whose inner workings and laws fail to justify any economic benefits for their respective hosts, is the world governing body for anything related to soccer.
This year, a whooping $3.6 billion were spent on new and refurbished stadiums, which account for up to 90% of total revenues generated at the tournament. However, the investment of such infrastructure is not seen to have any lasting affects for its locality. Take for example the Manaus Stadium; used for only four games throughout the tournament the stadium is located in a region so remote, the equipment had to be shipped from Portugal, up through the Amazon river since it is not accessible by land, and since there is no team in Manaus able to fill the stadium, it will probably become the world’s most-expensive garbage dump!
Brazil, hosts of the 2014 World Cup, saw Germany lift the holy grail en route to a 7-1 and 3-0 humiliation to Germany and Holland respectively, themselves slipping into 4th place at the tournament. This, however, is the least of Brazil’s worries.
These excessive stadium costs fail to show any economic or financial benefits to Brazil of late, with historical numbers showing Brazil being bullied with the costs, if you are to compare other countries with stronger economies of late like Japan, Korea, Germany and the U.S.A (i.e. those who spent the least and used existing stadiums).
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STATS
YEAR
1994 1998
HOST COUNTRY
USA 9
$603M
10, 10
germany
$2,939M, $1,687M
12
2010 south africa
2014
$5M
France 10
2002 KOREA & JAPAN 2006
total costs (US $)
STADIUMS USED
$1,905M
10 $2,120M
brazil 12
$3,609M
Budweiser Bill Just when you thought that this could not get any comically evil, FIFA is at it again! In 2003, the Brazilian government passed a law banning alcohol from soccer stadiums because of the enormously high death rates amongst fans, which seems like a brilliant and even potentially life-saving idea. However, the only problem in this scenario is that Budweiser, is one of FIFA’s key sponsors, and they sell a product they insist on calling... Beer! In a nutshell, FIFA seemed flagrantly adamant in protecting Budweiser from a law designed to protect peo
ple; with FIFA Secretary General, Jerome Valcke going to Brazil pushing their “right” to sell alcohol in the country. Intriguingly, Mr. Valke had this to say during the tournament: “ I was amazed by the number of people who were drunken, and the level of alcohol.” “When you drink too much, the level of violence may increase…” “We will always take safety into account, if we believe (beer sales) should be controlled, it will be controlled.” To be fair, how could he have possibly known that selling beer to people might result in them drinking it! Despite the daunting evidence against FIFA and its successful attempts at crippling the Brazilian economy, tipped for its high economic potential in the past, here’s their power...we loved every single bit of the World Cup 2014! And with the FIFA Women’s World Cup being held in Canada this year, one can only hope that FIFA President, Sepp Blatter and his sexist views on how the game should be conducted amongst women might just save our economy!
September 2014 | Quarterly Profit | 21
A STEP BY STEP GUIDE
a stEP BY STEP GUID
To Get Back Into
Study
Mode
WORDS // LAUREN ZYLIK We can all relate to the physical and mental shock of diving back into work or school after a long break. No more sleeping in until ridiculous hours of the day. No more open-ended days when you actually struggle to find something to do. And most importantly, no more free time to simply relax without a huge assignment hanging over your head. But when reality hits and it’s time to get back to work, there’s not much choice you have in the matter. The following is a guide aimed towards getting you back into school mode as swiftly and painlessly as possible. Brace yourselves though, getting back to business is much easier said than done.
a nutritious breakfast will keep you the moral of the story apparently! fueled and energized. The amount of Start this year right by getting in the sleep you get has significant influence habit of waking up refreshed and fuelon your energy levels, memory, and ing-up for the day. academic achievement as a student. It is said that we need on average 7-9 hours of sleep every night, while statistics show that the majority of university students are only getting 4-6. Quick Tip:
Make Your Bed.
This sleep deprivation may be the only thing getting in the way of you being on the Dean’s Honour List. So get more Zzzz’s to get more A’s (Sorry, that was lame).
sigstuthe day. This small task can motivate you throughout the rest of your day to keep Start your day Not only that, studies featured in completing tasks. I live by this one CNN News also show that stu- rule and you’d be surprised how effecoff right. This means get enough sleep the night dents who eat breakfast earn around tive this one little thing is. Who knew before and wake up to a good break- $10,000 more income after graduat- something that seems so meaningless fast. Getting enough sleep will ensure ing compared to their non-breakfast could have so much influence! productivity throughout the day and eating peers. Eat more, earn more is
1
Study after study all show nificantly higher grades from dents who consistently eat most important meal of the
Make your bed. First thing when you wake up everyday, make your bed. The old saying, ‘the state of your bed is the state of your head’ may seem like nonsense but it has some truth to it. By making your bed first thing in the morning you’ve already accomplished your first task.
DE
2
Plan out your time and stick to your schedule!
Plan out when and how long you’ll work on each subject. Plan out when you’ll take lunch and snack breaks. Plan out when to run errands or go to the gym. Plan out everything down to the minute!...Except maybe washroom breaks which unfortunately can’t really be predetermined. The more specific your schedule is, the better. You’ll be surprised at how much you’ll accomplish by simply writing tasks down and accomplishing them in a timely manner.
3
Set goals for yourself.
Hint: No Self Control? No problem.
For those of you lacking any self-disEvaluate your strengths and weak- cipline regarding what you do on the nesses and build on them. Only you internet for hours on end, using site understand what you’re good or not- blockers like SelfControl, KeepMeso good at. Whether it’s writing good Out, and StayFocused allow you to study notes or procrastinating assign- pick what websites and webpages to ments, personalize your study hab- block as well as how long you’d like to its around your strengths and weak- block them for. nesses and set goals for yourself.
5
Set a goal to attend every lecture if Keep Everything you have trouble staying on top of in Perspective! class material. Putting goals like this into place may help snap you back into This is the simplest, yet probably study mode after a long summer when the most powerful thing you could The satisfaction of checking some- you’re only goal was to get a tan! do to motivate yourself this year. thing off your list will be far more By keeping everything in perspecsatisfying than whatever else you tive I mean look at this school year were going to do, trust me. By writas only eight months out of the year. ing everything down that you need to Think of it as just a few months that do, you’re making a mental note of it you have to work your butt off, folGet rid of and keeping it on your radar. When lowed by a long rewarding break! distractions. you plan out your time and stick to it, things won’t all be left to the last minMore importantly though, keep uniute and this will help with your stress Beware, this tip is not for the faint of versity in perspective! It’s four years levels as well. Also, by writing things heart. out of your entire life. Four years, down you’re making the plans more that’s it! When you keep positive solid and you’ll be more likely so stick There are so many things these thoughts like this in your head you’ll to these concrete plans. days that waste so much precious be way more motivated to study hard time that could be spent on school- and breeze through the school year. work. Get off of Netflix, Facebook, Simply keep in mind the payoff of getTwitter, etc. for a few hours a day ting good grades and that’ll be motivawhile you get some work done and tion enough to get you through these Hint: Schedule some fun! you’ll see how much it pays off! four short years.
4
Carve some time out of your study schedule for some fun! You can’t just give up playtime cold turkey. You have to ease back into the school year. Plan a night to grab dinner with some friends or have a movie night. It’s all about balancing work and play so that you can give your brain a break from the sudden shock of your workload.
Put your phone on silent or turn it off altogether. Trust me, the cyber world will not combust in the few hours you spend disconnected from it. If possible, turn your computer off. This will obviously be difficult for those who take all their notes on their computer, but try and disconnect yourself from your laptop as much as possible.
Remember, this year is a clean slate to start over again, so make it count. Stick to this guide and get back to business commies!
HAMILTON ECONOMIC DE The Future of the Steel City WORDS BY JOSEPH CRUZ
24 | Quarterly Profit | September 2014
EVELOPMENT:
September 2014 | Quarterly Profit | 25
“Hamilton...is surely on its way to becoming an economic powerhouse that is ready to compete with other major Canadian cities, such as Toronto and Montreal.”
Situated at the western tip of Lake Ontario, Hamilton is located at the core of a densely populated and industrialized region commonly referred to as the Golden Horseshoe. With a population of approximately 758,073 as of July 2013, the city is Canada’s 9th largest regional economy and is ranked as the 5th largest mega-region in North America. Dubbed as Steel City, it is the country’s steel and metals manufacturing capital and is the home to two of North America’s largest steel manufacturing firms, Dofasco and Stelco, the latter being bought by the United States Steel Corporation in 2007. Although Hamilton has been leading the manufacturing scene in Canada for decades now, it has been experiencing growth in other industries as well. For the last decade or so, the city has been undergoing a vital transformation in its local economy as it branches out to other economic endeavors as seen in its thriving healthcare industry, burgeoning arts and culture scene, and numerous successful local businesses.
Hamilton Economic Development
and industrial development. It also ranked high among the top cities in North America for high quality of life according to fDi Magazine, a subsidiary of the prestigious Financial Times. In addition, it is the only city in the country with municipal economic development in office that is officially recognized by the International Economic Development Council.
The Hamilton Economic Development strategy is a city initiative that aims to help businesses explore economic opportunities such as expansion of existing operation, business relocation, and development of new ventures within the city. Its mission statement states that the core of the initiative is to become the avenue for continued economic In addition to the accolades that growth, job creation, and revital- recognize the continuous progress ization in the city of Hamilton. that is transpiring within Hamilton, one could say that the economic Why Hamilton? prosperity that the city is currentOver the last few years, Hamil- ly experiencing is inevitable. Sitton has experienced tremendous uated at the centre of a densely growth as a city. As a result, it has populated and industrialized rereceived numerous recognitions gion, the city is easily accessible that have cemented its ranking as to a highly skilled, well-educated one of Canada’s prime hotspots for and productive workforce of over economic growth and commercial a million people. Furthermore, as and industrial development. These a port city, Hamilton has become accolades include being recog- the Transportation Hub for the nized as the prime investment lo- Goods Movement Industry and in cation twice in a row by the Real turn has become one of Canada’s Estate Investment Network of largest courier and cargo airport Canada, while US-based Site Se- generating more cargo flights than lection Magazine ranked it as the any other airport in the country. top city in Canada for commercial The city also boasts a number of
26 | Quarterly Profit | September 2014
prestigious educational institutions including McMaster University, which consistently ranks as one of Canada’s top research-intensive universities, and Mohawk Collage, which is the largest trainer of apprentices in Ontario. The Hamilton Health Sciences, a medical group of six unique hospitals, has also become a symbol of the changing economic landscape in the city. Since its formation in 1996, it has been included as Canada’s Top 100 Employers and continues to be one of the city’s largest job providers, employing nearly 10,000 people. Hamilton’s location advantage and the institutions within it are just some of the many reasons why it now leads Canadian cities in economic performance and development of commercial and industrial projects, as well as becoming one of the country’s prime investment locations.
major infrastructure is undergoing major renovations to improve or repurpose some of the city’s most iconic buildings and facilities. Some of the major developments include the recent re-opening of the famed Royal Connaught Hotel, now renamed as The Residences of the Royal Connaught, to cater to its new role as a condo development for Hamiltonians. Not too far away from the Royal Connaught is the newly built Tim Hortons Field stadium which officially opened on September 1, 2014. It will serve as the soccer venue for the upcoming 2015 Pan American Games which will be hosted by the city of Toronto and the surrounding regions. Lastly, another major development is much closer to home, the McMaster University’s new downtown Health Campus is projected to open its doors to the public this year. Once complete, the stateof-the-art facility will see 54,000 patient visits as well as 4,000 McMaster students each year.
the restoration of historic buildings in the downtown core to the establishment of new state-of-the-art facilities, these developments are a testament of the economic revival that the city is experiencing. More than the aesthetic improvements that these substantial developments bring into the city, they also have a positive impact to the physical and economic health of the city’s downtown core. The Ambitious City
With all the major changes and transformations in the economic landscape of Hamilton during the last few years, it is surely on its way to becoming an economic powerhouse that is ready to compete with other major Canadian cities, such as Toronto and Montreal. As the city sheds its old form, a much more vibrant and thriving version is slowly emerging. From the burgeoning arts and culture scene, to Revitalization of the Downtown the booming health care industry, Core and the numerous revitalization Evident in the changing landscape These are just some of the many projects currently underway, Hamof Hamilton’s downtown core, the revitalization projects that are cur- ilton is transitioning away from becity is undergoing a much needed rently underway in Hamilton. From ing just the Steel City to becoming revitalization. Some of the city’s the Ambitious City that it truly is.
September 2014 | Quarterly Profit | 27
LOCAL BUSINESS
WILLY DOG’S JIM BONTAINE INTERVIEW BY JOSEPH CRUZ When I joined McMaster in September 2011, one of the questions that I was constantly subjected to by upper years in addition to the typical “how do you find the school so far?” or “what program are you in?” is if I’ve had the chance to try the hotdogs from Willy Dog. If there’s one thing in common for most students that
attended McMaster University during the last decade or so, it’s that we’ve probably bought a hotdog from Willy Dog at least once during our university years. As one of the school’s most popular community member, the Willy Dog food cart has been serving the McMaster community for a little over ten years. I had the opportunity to interview Jim Bontaine, the man behind Willy Dog to talk about his journey as a business owner and as an integral member of the McMaster community. HOW DID YOU GET STARTED WITH WILLY DOG? It was actually a friend of mine who started Willy Dog. He had been in business already for about five years before I got on board. Prior to that, I’ve been working in sales and management and one of the reasons I decided to quit working for other people is because I felt I would be more successful running my own business and setting my own standards of operation. So when the opportunity came up with Willy Dog, I decided to quit my job and started selling hotdogs at my first location at the Dundurn Beer Store area. Over time, my friend quit franchising to focus on manufacturing and selling all types of food carts while I continued buying my carts out right and using the Willy Dog name because that’s what I built it up as. However, I’m currently in the process of launching my parent company which will be called Great Taste Only (GTO) which will feature Willy Dog and all the other businesses that I own such as my catering service business and my food truck business. I’m also in the process of planning a brick and mortar takeout location in the west end area of Hamilton. Before I opened the Willy Dog at McMaster, I had actually already been in the business for ten years. Prior to opening on campus, I was doing both day spots and night spots all over Hamilton. During that time, people kept telling my staff that we should consider opening a location at McMaster so when the opportunity finally came along, I went through the tender process through the Hospitality Services and officially opened in November 2003.
28 | Quarterly Profit | September 2014
AS THE OWNER OF A BUSINESS WITH A UNIQUE BUSINESS MODEL, WHAT ARE SOME OF THE CHALLENGES YOU’VE FACED AND HOW DID YOU OVERCOME THEM? One of the biggest challenges that I face as a business owner is the longevity of people staying to work for me. Not a lot of the people I employ realize the overall potential present here and that it’s more than just selling hotdogs. When I started at McMaster ten years ago, I tried to hire managers to manage the McMaster location so that I can go for other universities. Unfortunately, most of the people I hired only did it for the money instead of being on board with my mission to expand the company. As a result, it has taken me longer to expand because my success has come over a long period of time by building it year after year and being so deeply involved in the middle of it. Furthermore, with the type of business I have, the more you expand, the more watered-down your control becomes. Another factor that comes into play is you have to make a certain amount of money before you can hire a manager who will strictly oversee everything. So, I had to constantly maintain the role of owner and operator simultaneously in order to oversee everything. Another issue stems from being a cash business. As a cash business, you end up relying on the honesty of your workers to a certain degree and do your own random spot checks once in a while to check inventory and ensure that the revenue is accurate. For these reasons, it is important that you hire employees that possess good work ethic and a good track record. AS A SUCCESSFUL BUSINESS OWNER, WHAT HAS BEEN YOUR GREATEST ACCOMPLISHMENT? I think that the biggest accomplishment I have achieved so far is becoming more than just another hotdog cart vendor at McMaster. When I first opened on campus, I vividly remember the school newspaper publishing a picture of the back of my cart with a short caption that said, “Another hotdog cart vendor showed up on campus today.” So at that moment, I knew that I had a lot of work to do to become a part of the McMaster community. I integrated myself and the business within McMaster by ensuring that I catered to the needs and wants of the community; whether it’s being open until 10 p.m. for night classes or offering a minimum of 30 condiments to cater to everyone’s taste. In the end, my biggest accomplishment is the successful integration of an institution within an institution. And
through that accomplishment, and with the unwavering support from the university, I recently received the 2014 Hotdog Vendor of the Year award in North America. WHAT DO YOU THINK IS THE KEY TO LONGEVITY WITH THIS TYPE OF BUSINESS? WHAT ARE THE SECRETS TO SUCCESS? Willy Dog is actually 25 years old while the McMaster location is 11 years old. Over these years, I found that the key to longevity is to be consistent. My employees always tell me to close early because it’s dead or the weather isn’t ideal, but the minute we start doing that, people are going to start asking where we are. In the 11 years that we’ve been here, we rarely missed a day with the exception of the university being closed. Another key to longevity is being aware of customer’s needs and wants. For instance, for students attending night classes, they know that we’re here until 10 p.m. so they come out during their breaks or they come before or after their classes. Lastly, none of this would have been possible without the support of my wife Susan, my son Adam, and daughter Andrea, who have endured the long hours that I have put into the business. FOR STUDENTS WHO ARE ASPIRING ENTREPRENURS AND BUSINESS OWNERS, WHAT ADVICE CAN YOU GIVE THEM? My first tip is to make sure that you do your research. Before I started my fish and chips food truck, I did field research and sampled various fish and chips before finalizing the menu and the serving size that my food truck will offer. Furthermore, don’t expect instant success and you have to be prepared to put in the time and the effort that comes with owning your own business. Also, keep in mind that the more your business expands, the harder it becomes because you have to start relying on other people to carry forward your entrepreneurial vision. Lastly, another advice is to give people the opportunity to make mistakes and allow them to learn from it. Always remember that once you know the problem, it’s halfway solved! WHAT IS YOUR MESSAGE TO THE MCMASTER COMMUNITY? It makes me feel that I’ve done something right with the support that I have here at McMaster. All these years of putting in the time and effort is finally paying off and has allowed Willy Dog to become more than just another hotdog food cart that showed up on campus on a random day in 2003!
September 2014 | Quarterly Profit | 29
INTERNATIONAL BUSINESS
SPACE EXPLORATION OR EXP A look at the privatization of space travel WORDS BY JULIA DINH 30 | Quarterly Profit | September 2014
PLOITATION? September 2014 | Quarterly Profit | 31
“...amidst the coming success of this industry, the lingering issue presented is: who owns space, and what guides the terms of use of this territory internationally?”
Travel to outer space has long been depicted in literature and film, seemingly fit to exist only in our imagination. Humankind was thought to be limited to the boundaries of our planet, until a little over half a century ago, the “Space Race” between the Soviet Union and the United States saw the successful NASA landing of the first humans on the moon in 1969 and sparked a rush of space innovation for generations to come.
design taking into consideration safety, environmental impact and efficiency, SpaceShipTwo, larger and more improved than its predecessor, is a suborbital air-launched rocket-glider that will be lifted to release altitude by WhiteKnightTwo, a jet-powered cargo aircraft “mothership”. During the two and a half hour trip, each passenger’s seat has access to two large windows, one at the side and one overhead to clearly view surroundings. Passengers will also have the incredible experience of floating free in zero-gravity for several minutes around the cabin. How about a souvenir? The pre-flight and flight experience of each passenger will be recorded for them to relive the experience and share it with family and friends. Ultimately, Virgin Galactic hopes that this initiative will allow thousands of people to have a heightened awareness of the nature and vulnerability of Earth and the importance of protecting it.
One of the major players in the commercial space tourism industry (which is expected to be worth $1 billion USD in 10 years according to the U.S. Federal Aviation Administration) is Virgin Galactic, a division of the Virgin Group founded by legendary entrepreneur Richard Branson. Initially through a joint venture between the Virgin Group and aerospace company Scaled Composites, The Spaceship Company (TSC) was formally established to create the world’s first commercial spaceline after the successful development and first The Numbers manned private spaceflight of the • Over 600 future astronauts spaceplane SpaceShipOne in 2004. who will be part of an exVirgin Galactic became the sole clusive worldwide club owner of TSC in 2012, acquiring with VIP access to Galacthe technology created and protic events, such as a tour of ceeding with the commercial prothe vehicle production faduction and testing of aircraft and cilities, private excursions spacecraft in Mojave, California. with Sir Richard Branson, The Concept and invitations to media events marking major VirVirgin Galactic boasts a travel expegin Galactic milestones. rience like no other. With a unique
32 | Quarterly Profit | September 2014
• Six passenger astronauts and two pilot astronauts is the capacity of each commercial spaceship. • 60 feet long with a 90inch diameter cabin are the dimensions of SpaceShipTwo. • 50,000 feet is SpaceShipTwo’s launch altitude. • 2,400 miles per hour is the acceleration of the spaceship, equivalent to over 3 times the speed of sound. • Three days is the duration of the Pre-Flight Experience Program, which will train passengers on living in zero gravity and higher levels of g-forces, basic emergency response, as well as provide opportunities for bonding with crew members. • $200 million is the cost of building the state-funded sustainable Spaceport America on a 27 square mile area of land in New Mexico. • $250,000 USD is the cost of a passenger seat; full payment upfront will guarantee reservation.
The Reception Virgin Galactic has gained an abundance of interested adventurers, and has received over $80 million USD in deposits. Famous figures such as astrophysicist Stephen Hawking, celebrities Leonardo DiCaprio, Tom Hanks, Angelina Jolie, Katy Perry and Brad Pitt are among the eager space tourists who have already reserved a seat aboard SpaceShipTwo. Since the cessation of the Space Shuttle Program, even NASA has sought out Virgin Galactic, which has agreed to transport technology experiments on its first commercial research flight. Low on physical cash? You might be glad to hear that Virgin Galactic accepts Bitcoin, an experimental form of money that exists online and is not regulated by any central authority. Furthermore, with the creation of a new emerging industry, competition between space transportation organizations will naturally arise and economies of scale will apply as space technology becomes more prevalent—all of which will play a part in decreasing the price of space tourism over time. In the meantime, although space tourism will provide opportunities for people to gain a new perspective on the world, there are certain grounds to be established as this new business takes off (no pun intended). The current cost to participate limits the market to wealthier
consumers and those who have a significantly higher willingness to pay—some have even taken second mortgages on their homes to pay for tickets. Moreover, this industry, a known oligopoly with relatively limited competition, has the potential to bring in large profits by expanding its consumer base to include research organizations and educational institutions that will invest in the use of new technology to share knowledge with the world. In addition, space tourism will induce indirect network effects to travel agencies and insurance providers, increasing a new line of business for these intermediaries between consumers and space transportation organizations. However, amidst the coming success of this industry, the lingering issue presented is: who owns space, and what guides the terms of use of this territory internationally? Already, tension has been stirred as the United States government through anti-espionage laws is prohibiting Chinese nationals from Virgin Galactic flights to prevent certain foreign powers from obtaining U.S. military technology. In 1967, the United Nations developed the Outer Space Treaty signed by the Russian Federation, the United Kingdom and the United States of America to provide a framework on international space law. It states that “the exploration and use of outer space shall be carried out for the benefit and in the
interests of all countries and shall be the province of all mankind”— if this is so, then if space tourism organizations are contributing to their respective domestic economies, how could these financial benefits be shared with other nations without such organizations? The interaction between the world powers in the context of commercial space travel should prove to be an interesting development over the next decade. Aside from economic and legal considerations, space tourism will nonetheless make exploring outer space more accessible to everyday people, and inspire a new generation of aspiring scientists, engineers and perhaps even entrepreneurs. It is remarkable to see how far we have come by fostering human capital in exploring the “corners” of the Earth to bringing forth the reality of space travel during the 21st century. I, for one, still have quite a lengthy list of places I would like to visit on planet Earth before even considering to voyage beyond the stratosphere. Also, not to mention, I have a fund going towards my tuition for the next few years, which should give the space tourism industry some time to work out further details before I decide on investing in space travel tickets. What are your thoughts about the privatization of space travel? Feel free to let us know by sending a letter to the editor at: magazine@degrootecommerce.ca
September 2014 | Quarterly Profit | 33
FROM RUSSIA WITH LOVE
A
As Russia continues its direct military intervention in Eastern Ukraine, Western nations are pushing for tougher sanctions which are putin’ a tremendous strain on the Russian economy. After the questionable March referendum led to the annexation of Crimea, the West imposed a first round of sanctions which included travel bans to several Russian oligarchs. With evidence of direct Russian involvement in the Eastern Ukrainian conflict, the European Union, Canada, US, Japan and Australia among others, began to broaden their sanctions which started to target individuals and business entities that were associated with Putin. Moscow reciprocated with sanctions against prominent Western civil servants and politicians.
WORDS // ALEXANDER KARPENKO
“...$157 billion worth of debt” However after Malaysian Airlines 17 was shot down on July 17th over Eastern Ukraine, the West began to alienate the Russian economy. The United States expanded their sanctions with transaction bans for Russian energy giants Rosneft and Novatek, in addition to Gazprombank and Vneshekonombank. The EU followed suit with sanctions that targeted the financial sector and imposed trading restrictions on Russian energy and defense firms. NATO members weren’t the only nations that pushed for
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tougher sanctions. The Japanese government froze individual assets and stopped funding new investments in Russia. Politically neutral countries such Switzerland and Norway also joined the list. The Norwegian government banned Russian banks from taking long and midterm loans, in addition to banning the export of equipment, supplies and assistance to Russia’s energy sector. Switzerland made it more difficult for Russian banks to issue financial instruments in Switzerland. It is impossible to predict with full accuracy the economic
consequences that Russia will face due to the regime’s decisions. However Russia has lost a significant amount of output, employment and consumption since it revisited its imperial ambitions. The short-term problem that Russia will now face is a possible credit crisis. Russia obtains half of its capital from abroad. European, Japanese and American capital markets are an integral part of Russia’s financial operations. Without access to those markets Russia may have to seek capital from elsewhere, primarily China. However if the supply of capital is low, replacing Western credit would come at a very high price. If Putin continues on his current path, capital flight will continue to accelerate and economic growth will slow. The European Central Bank (ECB) estimates that in the first quarter of 2014 outflows equaled $222 billion. It should be noted that Moscow has some financial breathing room. The Russian government has two large sovereign wealth funds: the Russian National Wealth Fund and the Russian Reserve Fund. The two funds have been saved for a rainy day are worth an estimated $174.4 billion. However all good things come to end. Moreover the health of Russia’s economy can be gauged by the behavior of the ruble and Russia’s debt market. The ruble hit an all-time low against the dollar and euro this year. Inves-
tors are abandoning ship before it becomes too late. According to Reuters, the Russian debt market was worth $47 billion in 2013. Since the sanctions took effect, only two loans were signed with a grand total of $1.5 billion. Standard and Poor’s (S&P) proceeded to downgrade Russia’s credit rating to near junk status – BBB. The bond auction that was scheduled by Russia’s finance ministry had to be held off due to the excessive interest rates. The main problem that Russia will now face is the refinancing of old debt. The current legal system cannot provide a framework for modern finance in Russia. It is also clear that Russia is rife with corruption. This leaves lenders no choice but to lend for short maturities, which leads to constant refinancing rollovers. Russia’s Central Bank (CBR) states that $157 billion worth of debt will come to maturity at the end of 2014. The CBR reassured Russians that foreign reserves were plenty and refinancing wouldn’t be a problem. However Putin’s crown jewel, Rosneft, requested the finance ministry to pay a $45 billion debt that will come due in two years. Despite Russian posturing their economy is inching towards collapse. If Russian involvement continues to increase in Ukraine, sanctions will also become more severe. Time and money are running out and if this continues the post-Soviet regime may fall like a house of cards.
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CORPORATIONS & SOCIETY WITH DR. BRENT MCKNIGHT
Our society faces a myriad of challenges to social, ecological, and economic systems. We read about them daily - pollution, societal unrest, extreme weather, gender inequality, and poverty to name a few. Despite these wicked challenges, or perhaps because of them, we live in exciting times! Solving big problems is what businesses do best. A new course, COMMERCE 4SG3 Corporations and Society course explores the role that business can and do play in addressing these challenges.
opportunity to be part of the solution. This course provides you some of the tools necessary to address social and ecological challenges.
Using cases, simulations, readings, lectures, reflections, and a practice-oriented group project, this course will push students to grapple with these problems and explore solutions.
The new course COMMERCE 4SG3 Corporations and Society launches this Winter 2015 and is open to Commerce students in fourth year and by permission of instructor to all fourth year students across the McMaster campus. Contact Brent McKnight bmcknight@ mcmaster.ca if interested.
As community and business leaders of tomorrow, you have an unprecedented
At the end of the course you will be able to intelligently discuss issues related to corporations and society, understand common management problems and practical management tools, and be challenged to clarify your own values and opinions related to the role of corporations and society.
Dr. Brent McKnight, Assistant Professor Strategy and Sustainability Dr. McKnight conducts research at the intersection of strategy and sustainability. His research on dynamic capabilities has advanced understanding of how firms build capabilities over long periods of time that enabled them to respond to persistent regulatory, societal, environmental, and competitive disturbances. His current research examines the role that for-profit firms play in building community-level resilience to natural disasters.
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GRADUATES: WHERE ARE THEY NOW - PART II
Mary Catherine Quintieri
Current position: Staff Accountant, KPMG Toronto Year of graduation: 2014 Highlights of DeGroote experience: Being immersed in a challenging and intellectually stimulating environment which pushed me to reach my full potential. How has DeGroote helped you in the career path you’ve chosen? Before entering DeGroote, I knew accounting was the stream I wanted to enter. Yet without the endless support, encouragement and guidance from my professors, and the staff at the APO and CBCD - the journey would have been much more difficult. I’m endlessly grateful to the staff at DeGroote for their help along the way. What is your advice to current/incoming DeGroote students: Advice to students: During your time at DeGroote, begin to consider two of life’s most important questions. 1. Who am I?; 2. What is my purpose on this Earth? While discovering yourself, always remember to be kind and work hard!
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INSIGHTS ON LEADERSHIP WITH
BOBBY UMAR INTERVIEW BY JOSEPH CRUZ
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Mr. Bobby Umar is the founder and owner of Raeallan, a transformational training and speaking company. With a varied background in brand marketing, engineering, and the performing arts, Mr. Umar has run teambuilding activities, presented keynotes, and coached thousands of people across Canada. During his MBA studies at DeGroote, he was president of the MBA Association and graduated the top of his class as a co-valedictorian. With numerous accomplishments as a business leader, teacher, speaker, author, and actor, Bobby leads Raeallan as it continues to discover, inspire and develop leaders. The Quarterly Profit team had the privilege to get a one-onone interview with Bobby as he reflected on his life and career.
How did you get started in the my career that I never really gave field of transformational training it much thought at first. There was and speaking? even one instance where I was approached by a professional speaker It actually all started in universi- who told me that I should considty. I was a camp counsellor during er becoming a speaker because I several summers, which was my would be excellent at it. Again, I first leadership experience. I also ignored this to focus on my corworked for Shad Valley, which is porate career. Eventually, I started a program for gifted high school listening to what people were sayyouth where I did leadership pro- ing and finally decided to leave the gramming. I really enjoyed the industry to start my own speaking experience so when I started my business. As you can see, leadercareer, I continued to be involved ship and development has always with the program and kept on do- been part of my life, albeit not in ing it in the summer. Once I joined the formalized sense. So, I decided the corporate world, I would of- to finally take that on and started ten volunteer to run team-building Raeallan in 2007. events for off-sites. People kept telling me that I was really good at When you finally decided to it and that I should do it for a liv- pursue Raeallan, did you find ing. But I was too busy building it hard to quit the industry?
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I was actually terrified, partially because one of the reasons that I decided to leave the corporate world is because I didn’t fit. I had tried the fields of engineering and brand marketing and I wasn’t really a fit for either. I simply felt lost. I think that’s the reason why I’m so passionate about lost leaders because I’ve experienced it myself. When I finally decided to pursue Raeallan, it took a couple of months to set up and produce a business plan. During that time, I decided to take a course on how to start a business at Centennial College and I was finally able to launch Raeallan in 2007. Looking back to your undergraduate years at McGill, what were your aspirations then and how did they evolve as years went by (receiving your MBA at McMaster, starting Raeallan, etc.)?
entertainment industry and considered producing for T.V. and film. So when I tried and it didn’t work, I got into brand marketing because it was the next best thing. But, I’ve always wanted to be an entrepreneur; I just didn’t know what I was going to be yet! For the most part, I love what I’m doing now and I love seeing the business evolve. Over the years, 3 things emerged: social media, personal branding, and networking or building relationships – everything under the banner of leadership. However, my leadership focus has changed too! My mission has evolved from being for everybody including corporate and now has moved towards a more gen X and gen Y target. I
would speak to some corporate audiences with more senior executives and notice that half of the room didn’t care about what I had to say while the other half wouldn’t implement it. This is why my focus has shifted to gen X and gen Y. Looking back, all the things that I did, being a camp counsellor, an engineer, a performer, and a brand marketer, contributed to being a leadership and development specialist. I soon realized that my personal brand consisted of 5 main things: 1. I love people, 2. Nurturing and helping, 3. Persuasion and influence, 4. Performing and presenting, and 5. Variety and balance.
I did an engineering degree at McGill while taking a minor in arts and music while also being involved in a musical theatre company on the side. I’ve always had this passion for entertainment and performing so when I was involved in that theatre company, I took on executive roles so the leadership experience came into play as well. In addition, when I worked for Bombardier as an engineer, I started my own musical theatre company; so again, the leadership experience was present there as well. Also, when I originally did my MBA, it was actually for the idea of going into entertainment. I wanted to pursue the
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“Leadership is about evolving, growing, and changing for the better so that you can better yourself and better impact the people around you.”
What I do now is all those things! When you were just starting out in the field of transformational training and speaking, did you face any challenges? If so, how did you overcome them? The biggest one was getting the word out and the second one is pricing or knowing my value. When I started, it was before the advent of social media so I created a direct mailer to send to people. I think back then I was able to use Email effectively by leveraging the 3000 contacts I had at the time. In terms of pricing and knowing my value, it really comes from experience and asking for feedback. One of the things I learned over the years is the moment you know your value, everyone knows your value. Part of it is belief, confidence, and just knowing what you offer without being arrogant. If someone can’t afford it, I’ll often still help simply because it still serves me since I feel good when I help other people!
while writing the blog, I concluded that I actually never had a life-long mentor. At certain points it was my brother and my dad and later on it was certain teachers or friends of mine but never one that was always my ‘go to person’ or that had the official capacity as a mentor. So I entitled that blog post as Mentorship: It Takes a Village with the idea that I had a village of temporary or quasi mentors who helped me along the way. As it turns out, the person who asked me to write the blog post eventually became my mentor!
best dad I can be.
With your numerous accomplishments as a student, a business leader; professional trainer and speaker; writer; and author, is there a particular achievement that you are most proud of?
First of all, social media is here to stay. It’s part of business, work, and play. The key aspect of social media is it gives everyone a voice. It gives people a voice that is amplified and reaches way more people. And because that voice has been amplified, it means that everybody’s story has been amplified and everyone now has a story that can be easily shared around the world. Ultimately, your voice and your story becomes your brand. How you choose to leverage it is up to you but if you want to build up a fantastic profile, you must leverage and invest in it.
The other thing that I’m really proud of is I have a good sense of the numbers of hearts I’ve influenced. Instead of success being defined by revenue, I’ve defined it by the number of hearts I’ve impacted. All the things that I’ve done over the years, I have been able to positively affect hundreds of people. Although I can’t really measure it, I’m most proud of the lives that I’ve been able to impact and touch.
Being a social media powerhouse, what do you think is the role of You can check out the blog post social media in this day and age at: http://raeallan.wordpress. and how can students leverage com/2013/01/18/big-shout-out- it towards achieving their career mentorship-it-takes-a-village/ goals?
I’m proud of the kind of dad I am. I’m really proud of my children and what I have accomplished as a father to them in terms of nurturing them, helping them grow, finding balance, and expressing the values that are important to me. Being able to spend time with my children as Someone once asked me to write they grow up is my main focus and a blog post about mentorship and I’m doing all that I can do to be the You’ve probably have had many mentors in your life, is there someone particular who has had a tremendous impact on you? How did this person impact your life?
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As a professional actor, what do you think are the key skills or lessons that can be gleaned from professional acting and applied to the real world? First of all, you have to know your role and your story. Know who you are as an individual and what you are all about. In doing so, you’ll be able to make a greater impact to the lives of others. Another important skill is listening. As an actor, you have to listen to what everyone else is doing especially in Improv. You have to listen to what other people are doing, what they are saying, and how they are feeling. And this applies to life, when you listen to yourself and to others, you’re able to get a better understanding of who you are and how others are and how you can impact them. Lastly, be professional. Professionalism is a big part of acting and the same with leadership! As someone who has a lot in his plate and is always on the go, how have you been able to balance your work life and family life?
Francisco and I said no. Why? It’s simply because I’m not willing to leave my family on evenings and weekends unless it benefits them too. Right now, I’m a parent first so unless my family can come with me or there’s a way around it, it’s a no. I understand that it’s hard but if you know what your priorities are and you know what your mission is then it becomes easier to say no.
Ultimately, my advice is to own your leadership. Leadership is about evolving, growing, and changing for the better so that you can better yourself and better impact the people around you. Everything you do should be about that because that’s how you change the world. The better you make yourself as a leader; the better off everyone else around is going to be; whether they’re your kids, your What has been the most valuable friends, your parents, or your collesson you have learned through- leagues. The better your brand, the out your life and in your journey better the brand of DeGroote is! If to where you are right now? you want DeGroote to be the best in the world, then be the best leader It’s based on a blog post I saw en- you can be! A better you equals a titled The Top 5 Regrets of the Dy- better me equals a better us! ing. What do people that are old and dying regret the most? Is it that they should have worked more or TEDx talks: earned more money? No! It’s fohttp://bit.ly/hLR9sF & cused on the things that really mathttp://bit.ly/15pCYXF ter – the connections, the people, the stories, and personal growth. Tweet me: So I’m constantly thinking about @raehanbobby my story and my legacy. I constantly ask myself what I want the story LinkedIn: of my life to be. Is it that Bobby http://linkd.in/wfWmx8 worked 60 hours a week helping build someone else’s dream? DefiFB fan page: nitely not! It’s going to be about http://dld.bz/Rjyu my family and all the lives that I’ve impacted! So I’ll leave you with Google+: this question: what do you want http://bit.ly/oN6JiI your story and your legacy to be?
I haven’t! No one does! It’s a constant struggle. That being said, I’m able to manage it by leveraging technology, leveraging people, and learning to say no. For instance, the other day, I got invited to at- What advice can you give to tend a TED at IBM event in San DeGroote students?
September 2014 | Quarterly Profit | 43
GENERATION SELFIE: A POSITIVE OR NEGATIV WORDS BY RACHEL MOSTERT
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In a world in which vanity and self image hold immense internal as well as external power over young people, something as simple as a “selfie” can alter the course of self confidence in a person within a matter of seconds. Dictionary.com has recently added the term to its archive, defining it as an informal noun and as, “a photograph that one takes of oneself with a digital camera or a front-facing smartphone, tablet, or webcam, especially for posting on a social-networking or photo-sharing website” (Random House). For the purposes of this article, I will use this definition to describe the term “selfie” as I move forward. Within the past five years or so, the selfie has taken over social media. Across Facebook, Twitter, Instagram, and countless other social media outlets, people around the world have been posting pho-
tos in which the subject is both photographer as well as the focus of the picture. Today, selfies have been the center of chart-topping dance songs, countless hash tags, and even contests to win big prizes, like a Scion FRS (99.9 Virgin Radio’s “Summer of the Selfie”) or a trip to Miami (Mapleview Mall’s “Mapleview Muse”). Parents and psychologists worry that the selfie fad that has taken over the millennial generation could prove harmful later in life. Let me speculate on where selfies may fit in within the world of business. The issue of privacy has become the main focus of criticism of the selfie. There is a great fear among older generations that the exposure that the selfie promotes will prove harmful to millennial’s self-presentation in the future. Parents worry
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that the selfies that their children take during various activities expose too much of their lives and that future job opportunities will be affected by decisions to post photos online. Many skeptics of the selfie also worry that posting these self-portraits online opens the door to a lot of negative judgment from peers as well as strangers. While it is true that selfies have the potential to generate negative feedback, which could lead to decreased self-confidence, we mustn’t forget that they also provide the potential for positive feedback. In this day and age, young people face the pressure to live up to the beauty standards that society promotes, which are often unrealistic and harmful to self-image. On some level, selfies are a way in which young people can stand up against these standards and have enough
VE SHIFT? “The emergence of the selfie has created the opportunity for a form of personal branding to take over social media.�
confidence in their own unique style and beauty to post a photo of themselves online for others to see, even at the risk of being negatively judged. Just before the emergence of the selfie craze, social media still played a huge role in the lives of young people. Photos were inevitably posted online in the same way that selfies are posted, showcasing events and activities in the lives of subjects. Previous to selfies, though, photos were most often posted by peers of their friends rather than self-posted photos of themselves. This took control away from the subjects of the photos and placed it in the hands of someone else. This lack of control had the potential to cause many of the problems that skeptics suspect selfies to cause, such as harm to future self-pre-
sentation and negative judgment from others. The emergence of the selfie has created the opportunity for a form of personal branding to take over social media. The control of self-image has shifted from the hands of others to the hands of the subject. Selfies allow young people to take control of what is being posted online and allow the individual to decide how he or she wants to express him or herself. This has created a kind of marketing of the self. In an age where social media plays such a large role in the lives of millennials, photos inevitably emerge online. When we look at the emergence of the selfie from this perspective, it becomes a positive shift rather than a negative one. Although selfies do have the potential for negative evaluation, they also carry the potential for something much more positive in the world
of social media to emerge. This marketing of the self or personal branding allows each individual to make conscious decisions regarding what is posted online. The rise of the selfie has diminished the potential for outside marketing and shifted instead toward the use of marketing of the self to represent an individual online. Before criticizing the form of personal branding that the selfie has become, it is beneficial to outweigh the negative implications with the positive ones. The selfie has become a way to exert individual control over what others can view of that individual online, which has the potential to change the way businesses view these individuals as potential hires in the future.
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1 2 3 BACK TO SCHOOL: Social Media Etiquette Always filter what you post.
There’s a certain level of responsibility involved when using social media since it all goes back to the user who has full control of the account. You have to be accountable to whatever it is you post online and you have to be ready to face the consequences that may result from irresponsible postings. This is why my first tip for you is to always filter your posts and refrain from swearing, trash
Segregate personal and professional social media.
If you’re the type who has multiple social media accounts, you have to be mindful of the sync features or share settings on all your accounts! For example, your Instagram might be set on private because you intend it for personal use while you use your Twitter account for connecting with other professionals hence you have it on public setting.
WORDS // BY JOSEPH CRUZ
talking, sharing personal or professional issues, or any inappropriate behavior that may cause negative consequences in the future! Whenever you’re not sure about the “suitability” of a post, ask yourself this simple question: “Is it okay for my boss, future employer, professors, peers, or family members to see this post?” if your answer is no, then you’ll have to opt out of posting the material!
That’s fine and dandy but becomes an issue when you’re not mindful of the share setting on your Instagram account because even though your actual Instagram is set on private, once a post is shared on your Twitter, it becomes accessible to everyone! Now, I’m not saying to completely filter out any personal postings that show a glimpse of your personal life because it’s totally okay once in a while. It’s actually a good thing because it makes you more relatable to other people; you just have to make sure that it’s appropriate.
Leverage social media as a networking tool!
I highly encourage you to use your social media accounts as a networking tool because even though the idea may sound a bit absurd at first, there’s really nothing to lose when you connect with other professionals online (as long as you do it in a proper and professional manner)! It actually makes it easier for you when you finally meet the person in
an actual networking event because you’re already familiar with his or her work and interest and you already have something to start the conversation with! Also, from personal experience, there’s a chance that they might recognize you which not only gives you a head start from the rest of the group but also makes you more memorable! It’s essentially doing your homework way in advance rather than the night before a networking event so you know more about the person than anyone in the room!
Be active on your social media accounts.
Be active on your social media accounts especially if you are using it to connect with other professionals! Don’t think that
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once you create your LinkedIn profile, you’re done and you’re good to go! Try your best to engage your connections and to keep it up-todate!
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5 6 7 8 9 Take advantage of social media features and resources.
Take an active role in managing your social media accounts. Be up-to-date on all the features and settings available on your accounts especially during updates which may reset your privacy or security settings to default. For instance, Facebook has a timeline review feature that allows you to review posts
that you are tagged in before it becomes available on your timeline. Taking advantage of this feature allows you to filter out posts that you don’t want to be visible on your profile. If you’re always busy and doesn’t have the time to do tip #4, take advantage of resources that are available online to better manage your social media accounts. Hoot Suite is one of the leading social media management dashboards that allows you to create and schedule your posts ahead of time!
It’s not always about you!
Use social media as more than a means of updating others about your life and whereabouts. Try to engage your connections once in while by replying to their posts or posting content that interest them! You can also get up-to-date news through social media, follow our school’s online resources, or use it as a means of easy communication during group projects!
Refrain from posting inappropriate pictures!
You probably know this already but let me reiterate that posting inappropriate pictures on your social media accounts is one of the worst things you can do while you’re in university! Remember that one of the reasons you’re here in the first place is to get started on your career so don’t let one bad picture ruin your chances of getting hired!
Use a professional profile picture.
Use a professional profile picture on all your social media accounts especially on your LinkedIn! Looking presentable on your profile picture is important in leaving a good first impression to future employers who will most likely do a quick
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Take advantage of resources available through the CBCD.
The Centre for Business Career Development or more commonly known as CBCD has resources
internet search when screening for new hires! You’ve always been told to dress to impress, now it’s time to take that a step further to ensure that you make a good, lasting first impression in person or online!
available to help you create and manage your LinkedIn profile. Take note that most of the tips they provide can be used on other social media platforms. By taking advantage of these resources, you will soon be on your way in creating an effective and powerful personal branding online that will contribute to reaching your goals as a business student and future business leader!
Be natural and just be yourself!
Your social media account is part of your personal brand and should represent who you
are as an individual and as a professional. With this is in mind, it’s important to remain true to yourself and allow that to be reflected on your presence on social media!
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STUDENTS OF DEGRO
WELCOME WEEK EDITION
“I’m looking forward to all my business
classes especially my Accounting classes and I’m also hoping to go on an exchange to France through the BizX program at DeGroote!”
“I’m most looking forward to meeting all the people in our faculty because everyone seems really awesome! I also look forward to just getting involved and in all the DCS clubs and committees such as the Woman in Business. I’m really excited to putting myself out there!”
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OOTE
PHOTOGRAPHS BY JOSEPH CRUZ
“I’m excited to meet new people!” “I’m definitely looking forward to the new experiences!”
“The advice that I would give is simply to be known for who you are and not for what you want to be.”
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Get Informed OUTSIDE THE CLASSROOM Top Reads for This Fall Hopefully over the summer you got the chance to immerse yourself in a good book to keep your brain from going to goo. However, if by chance you didn’t get that opportunity and you want to get your brain working again, pick up these books! They’re interesting, informative, and are more biographical based to give you a real sense of what to expect in your coming years as business leaders. These will surely get your brain back into action for the school year!
Check out inspirational and educational speakers at tedtalks.com. Here are a few recommendations.
Cold Hard Truth: On Business, Money & Life Kevin O’Leary (2011)
Kevin O’Leary (aka Mr. Wonderful) shares his personal take on handling business, family, and hard decision making. With step-by-step guidance on how to turn your entrepreneurial dreams into a reality, it’s a great read to get a sense of what your future holds as a business leader!
Angela Lee Duckworth
“The Key to Success? Grit.”
Lean In: Women, Work and the Will to Lead Sheryl Sandberg and Nell Scovell (2013)
Sheryl Sandberg shares her struggles and successes as a woman in business. A book targeting the DeGroote female population gives advice on how to succeed as a gender minority in the business world. Great inspiration!
Ken Robinson
“How Schools Kill Creativity”
Information Bombardment: Rising Above the Digital Onslaught Dr. Nick Bontis (2011)
Written by, none other than DeGroote’s Chair and Associate Professor, Dr. Bontis, this book teaches you how to work smart and efficiently with the onslaught of information we are given on a daily basis. His mix of personal stories and humor puts you on a more personal level with this close-to-home author.
Arianna Huffington
“How to succeed? Get more sleep.”
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GRADUATES: WHERE ARE THEY NOW - PART III
Enje Kerikes
Being the Co-founder and first editor of the magazine, It really brings me great joy to see how the QP has grown. I recently graduated from DeGroote in June 2014. Being simultaneously, the best and worst day of my academic career. Best because, I had gone through the rigorous and challenging commerce program and worst because, I was leaving behind the best four years of my life. After graduating you do a lot of “soul searching” ... “Who have I become in the last four years?” It’s a question that by the time you graduate you want to be proud of that answer. You do not want to look back on these years and regret anything, regret not joining that club, or not competing in that competition. DeGroote has always fostered an attitude of work hard, play hard and it is because you deserve it. Being in commerce challenges you academically and socially. You are not graded merely on individual work, but group work, which can define the person you will be in the future. Are you The Leader? The Supporter? The Organizer? All of these things DO matter in discovering where you fit. Being part of DeGroote has allowed myself to understand the value of competition, cohesion, and collaboration. The business world needs active minds that are ready to take on a challenge and create new innovative ways to improve whatever field of business you are in. From group work, to clubs such as the DCS and the QP I have learned a great deal of analytical skills, organizational skills, and communication skills that have launched me into my current path of life. With the work ethic that I have developed and the insight gained from DeGroote I know that I will be successful as I enter my current career path in my pursuit of law.
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CBCD Centre for Business Career Development
SUMMER RECRUItment Some employers are recruiting NOW for the summer of 2015; crazy but true! Many of the accounting firms and banks do their hiring in September for summer opportunities. To find information about these roles, keep an eye on OSCARplus and also go directly to the company website (not all opportunities will be posted on OSCARplus). Many other employers will begin sourcing out their summer staff around the Christmas holidays. To begin a successful summer job search, here are a few key recommendations: 1. Check out all of the fabulous workshops that are happening. These sessions will help you achieve success! Try to attend a couple and be sure to register on OSCARPlus! 2. Make a list of employers or positions that you would like to have. Contact these employers to either submit an application or conduct an informational interview (if they are not yet hiring). Follow up within 5 days so that you remain top of mind. 3. Attend the annual McMaster Career Fair, this year on September 18th. This will provide you with an opportunity to network with employers, learn about some job opportunities and gather valuable information. 4. Search through job posting sites. OSCARPlus is awesome, but there are many, many, many other sites out there. Don’t limit yourself. 5. Do not underestimate the power of your connections. Talk to friends and family. Let them know what you are looking for; you might be surprised at who can help you reach your goal. 6. DO NOT wait until April to start looking for a summer job!
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CAREER FAIR Want to meet over 60 employers all in one place? Attend the annual McMaster Career Fair. This is the largest career event at McMaster that offers a forum for you to meet face-to-face with employers and make career connections. Participating in a career fair provides an opportunity to find out what qualities, experience and skills, employers are seeking. You can also gather company information about different employers that you are interested in and make connections, so that they may remember you throughout their recruiting process. This year the McMaster Career Fair will be taking place on campus at the David Braley Athletic Centre on Thursday, September 18th.
ways to connect with cbcd The Centre for Business Career Development is open Monday-Friday, 8:30am4:30pm, all 12 months of the year! You can locate us in the DeGroote School of Business, Room 112. For Appointments, Events and Job Postings: OSCARplus – www.oscarplusmcmaster.ca Online Resources: Avenue To Learn – http://avenue.mcmaster.ca
yOUR QUICK GUIDE TO
OSCARPLUS Want to look for a job, attend a recruitment event, or receive some career advice? OSCARplus is McMaster’s online career portal specifically designed to help students and alumni kick-start their career and employment goals. All full-time students across McMaster have access to OSCARplus, and the system is a collaborative effort by all five career centres on-campus. OSCARplus Top 5: 1. OSCARplus just received an upgrade! This new version of OSCARplus provides a more intuitive user interface, improved site consistency, and cross-device compatibility. While it looks different, all the functionality is the same. If you have any questions contact CBCD at cbcd@mcmaster.ca. 2. You have two job boards available to you. Both the SSC Job Postings board and Business Student Job Postings board are available to you for Summer, Fulltime or Part-time positions. One targets all faculties (including Business) and the other targets only Business students. Make sure you search and apply in both places to maximize your job opportunities. 3. Your access changes when you do. OSCARplus is integrated with McAuth and its system will be updated with your most recent academic record. Therefore, your level will automatically change each year, and if you change programs or go from full-time to part-time studies, your site access will reflect that change. To access the Business tabs in OSCARplus, you must be taking at least 18 units of courses. If you need access, please contact CBCD. 4. You can book appointments online! Both CBCD and Student Success Centre offer online appointment calendars for career coaching, counseling or academic assistance. Plus, it’s easy! Simply go into the respective calendar, choose your appointment type and the date/ time that works best for you. 5. Keep your profile up-to-date. If you are actively searching for a job, or participating in career development events, we need to know how to contact you! Each year, it’s important to update your profile with your current phone number and an alternative email address.
PREPARATION FOR RECRUITMENT SEASON Recruitment is underway and the campus is buzzing with students excited and anxious to participate in graduate or summer recruitment. How can you best prepare to be successful in your job search? • Plan to participate in advance! With so many activities pulling you in multiple directions, it is important to allocate time to your job search. • Remember the 80/20 rule. Allocate 80% of your effort in applying to 20% of the roles, instead of 20% of your effort in applying to 80% of the roles. Then take the time to create an application that specifically targets that position and role where you want to work. (i.e. no generic cover letters allowed!). • Attend networking events. Having an opportunity to network with potential employers is just as important as submitting your written documents, so again, be well-prepared and attend as many Company Information Sessions as possible. • Preparation + Practice = Performance. The resume/cover letter will get you the interview, but it is the interview that will get you the job. Prepare in advance (hint: CBCD also has an Interview Preparation Guide) and practice your responses with someone to perform confidently in an interview. Remember, recruiters are looking for likability, congruence and competence. • Do NOT verbally accept an offer! Sometimes the excitement of receiving a phone call with an offer can be overwhelming and may lead you to say yes before you have had the chance to review offer details. Remember, a verbal acceptance is an acceptance! Instead, thank the recruiter and ask three things: 1) When will you receive this offer in writing? 2) When does it need to be signed back? 3) Who can you contact with questions? Being able to review a written offer, ask questions and negotiate if needed will make you feel even better about accepting that job you have worked so hard to land.
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