The Quarterly Profit // Vol. 1, Ed. 2

SPRING 2014 |

SPRING INTO ACTION

| vol. 1, Ed. 2

PHOTO // JOSEPH CRUZ

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

c o n t e n t s 4 LETTER FROM THE EDITOR

20 INNOVATION FACTORY

5 THE QP TEAM

CANADIAN AUTO SHOW 22 We spoke with Edward Broadbear, VP of

Mary Catherine Quintieri reflects on our first issue’s success, as we dive into the second issue and close this academic year.

These creative geniuses have done it again!

Say hello to our growing QP team.

6 RX FOR SUCCESS FROM DR. BONTIS

DeGroote’s very own, Dr. Nick Bontis, shares his story and the wisdom he has developed throughout his journey.

12 FASHION CONTAGIOUS

Get tips from pro fashion blogger and third year Commerce student, Julie Ling-Ma.

Create something this summer by using David Carter’s 5 Phases of Innovation.

Marketing for Chrysler Canada.

26 An auto industry outlook for 2014, fea-

turing Sergio Marchionne, CEO of Fiat S.p.A.

28 CRAFT BREWERIES

In honour of St. Patty’s Day, we bring you the business behind Ontario’s craft breweries.

30 KING OF YOUR OWN CASTLE

Learn about the current state of the Canadian housing market so you can be the king (or queen) of your own castle!

14 3 SECRETS TO RUNNING A 32 BEEF UP YOUR RESUME SEASONAL BUSINESSES Resist the urge to laze around all summer How do seasonal businesses survive Canada’s temperature extremes? We’ve got the inside scoop.

16 A STEP BY STEP GUIDE: EXAM SUCCESS

long. Use your time off to become the ideal candidate.

38 INVEST IN YOU

This summer, join Dr. McAteer on a six-week journey to self-discovery as she guides you Stressed about exams? Check out our step by through her transformative process. step guide to exam success, and get ready to ace your finals this year!

40 GET INFORMED

18 MCMASTER INNOVATION PARK

McMaster’s Innovation Park is dedicated to fostering a creative culture which stimulates entrepreneurial business ventures.

Stay sharp this summer through business conferences, our top 3 TED talks and 6 mustreads!

42 MENTORS’ MANTRAS

stats from issue one

6,418 30 11,853

views in first week

countries

views to date

Letter from the Editor WOW! We thank our readers and the DeGroote community for your unparalleled support of our vision by making the QP go viral! It is safe to say that the first issue of the magazine was an amazing success.Two days after the launch of the QP's first issue, I heard Greg Rombough, Manager of the Undergraduate Program at DeGroote, relay Conan O'Brien's amazing quote on success. He said, “Success is like a white tuxedo; you feel terrific when you get it, but then you’re desperately afraid of getting it dirty.”

The premise of our second issue and our goal for the QP is growth... and keeping our white tuxedo in pristine condition! Just like the flowers which bloom without fail every spring, life and success are about continual and perpetual growth. We must never become complacent in our current state, regardless of whether we attribute it to be positive or negative. We must constantly strive for self-betterment, greatness and the vision of becoming something more.

This issue's theme is "Spring Into Action."As final exams approach and the intoxicating notion of summer lingers in our dreams, a much needed break seems to be on every student’s mind. Yet all too often, this post-exam laze becomes a toxic routine, and the summer months are blinked away in a stagnant blur of over-indulgence.

Yet this summer, we encourage you to make the most of your time off and keep your mind and drive active!

Whether it's landing a great job, attending informative conferences, developing your personal or professional skills - the QP wants to help you have an outstanding summer and we have the information to guide your process. And don't worry, we practice what we preach! Over the summer, our team will be working hard as well to ensure this venture achieves even greater success in the years to come!

I thank DeGroote for making this vision the amazing success that it has become. It has been a dream come true for me to create a legacy here which I know will be carried through the generations. I am proud to announce that this legacy will begin next year as I place the presidential reigns in the highly capable hands of Joseph Cruz. Thank you and good-bye DeGroote,

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Mary Catherine Quintieri

THE qp TEAM DAJANA radic CO-EDITOR & WRITER

AMY cochrane VICE PRESIDENT, DESIGN

JOSEPH cruz

VICE PRESIDENT, EXTERNAL RELATIONS & WRITER

REBECCA snary EVENTS & SOCIAL MEDIA COORDINATOR

SAJID ali

VICE PRESIDENT, CREATIVE & WRITER

ALEX karpenko ECONOMIC ANALYST & WRITER

MARCO coccari EVENTS & SOCIAL MEDIA COORDINATOR

LAUREN zylik WRITER

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DR NICK BONTIS RX FOR SUCCESS INTERVIEW // JOSEPH CRUZ Known to his students as “Dr. B,” Dr. Nick Bontis is a highly-regarded academic, speaker, author and management consultant. His fields of expertise include intellectual capital, knowledge management and organizational learning. He was recently named as one of the Top 30 Management Gurus world-wide and has amassed prestigious recognitions over the years. These include a 3M National Teaching Fellow and recognition from Thomas Stewart, the former Editor of the Harvard Business Review, for being one of the world’s intellectual capital

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pioneers and experts. In addtion to his professional accomplishments, Dr. Bontis is also a well known figure in the world of sports. Some of his achievements include winning a Canadian silver medal in running long jump, receiving national all-star status along with several high-profile awards, and carrying the 2010 Olympic Torch in Hamilton while it was en route to Vancouver. The Quarterly Profit team had the privilege to get a oneon-one interview with Dr. Bontis as he reflected on his life and career.

[

Q

HOW DID YOU START SPECIALIZING IN INTELLECTUAL CAPITAL, KNOWLEDGE MANAGEMENT, AND ORGANIZATIONAL LEARNING? When I graduated from business school as an undergraduate, my first job was at CIBC working in the securities industry. I had a subscription to Fortune magazine and read an article dated June 3, 1991 titled Brainpower: Your Company’s Most Valuable Asset by Tom Stewart. At the time I was working as an Analyst on the CIBC mutual funds team, trying to calculate the value of businesses to decide if we should invest in them or not.

At that time, I realized that it wasn’t the value embedded in the financial statements that was the most important asset, but it was the intangible value – the brain power, the employees that worked there, the patents, the information embedded in the filing cabinets and the databases that were the most important. Interestingly, all of these intangible assets are not necessarily measured by our traditional accounting methodology. This was the article that opened my eyes to this burgeoning field of Intellectual Capital at the time. A few years after working in downtown Toronto, I went back to graduate school and eventually did my Ph.D.

[

Q

WITH YOUR NUMEROUS ACCOMPLISHMENTS AS A BUSINESS LEADER, PROFESSOR, SPEAKER, CONSULTANT AND AUTHOR, IS THERE A PARTICULAR ACHIEVEMENT THAT YOU ARE MOST PROUD OF? As a teacher, I received the 3M National Teaching Fellow which is the most prestigious award for university professors in any discipline in Canada. I remember when I was still a Ph.D. student, a couple of my professors at the time were also 3M Fellows. I was inspired by their outstanding ability to engage students in the classroom. Students will always remember their most influential professors. There’s actually only ten 3M Fellows selected across the whole country every year.

When I started at McMaster, it was a far-reaching goal that I strived for. McMaster professors in general have a very strong history with winning 3M National Teaching Fellowships. Our current Associate Vice-President of Learning, Arshad Ahmad, is also a 3M Fellow as is Carolyn Eyles (Geography), Marshall Beier (Political Science) and Pippa Lock (Chemistry).

]

“You can get a good business degree at lots of places but if you want something applied and legitimized by real-life experience, go to DeGroote.”

Q

academic tradition, and that’s where Organizational Learning comes in. Organizational Learning had a 30year tradition at the time. So when I wrote my Ph.D. dissertation, I had to integrate the field of Intellectual Capital with Organizational Learning. A few years later, Knowledge Management became the hottest field in business. So that is how all those fields were brought together. I started teaching COM 4PA3 at McMaster back in 1998 and launched the P727 course for the MBAs, which was the first ever Knowledge Management course in Canada.

HOW DID YOU LINK INTELLECTUAL CAPITAL TO KNOWLEDGE MANAGEMENT AND ORGANIZATION LEARNING? The concept of Intellectual Capital was so brand new at the time that there wasn’t really a lot of academic literature in the field yet, so I had to basically take the field and morph it into something that had a stronger

On the extra-curricular side, I would have to say that I am very committed to coaching. I coach a number of sports including soccer and basketball, and it’s a big passion of mine but I derive a lot of satisfaction from it – it’s about giving back. In January of this past year, I successfully received my National B License in coaching for soccer, and that’s a big achievement because the license basically entitles me to coach any level of soccer all the way up to Professional.

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Sports have been a huge part of my life and there are many complementary skills that I have been able to develop between being a coach and being a professor.

Both careers reinforce one another. I also had the opportunity to carry the Olympic torch for the winter games in downtown Hamilton while it was en route to Vancouver which was an awesome experience. I have the torch in my living room. My kids keep trying to light it. I hope they don’t burn down the house!

Q

AS A SPORTS FANATIC, WHAT DO YOU THINK ARE THE KEY SKILLS THAT CAN BE GLEANED FROM PLAYING SPORTS AND APPLIED TO THE REAL WORLD?

[

The most important skill you can have as an athlete is learning how to lose. Everybody knows that winning is fun and that’s what people generally talk about, but most people don’t know how to lose. You can take losing a bunch of different ways – you can be an emotional wreck and freak out, or you can be rational, and just be emotional for a little bit and then say ,“Okay this is why we lost, let’s modify our behavior and learn from it.” The academic field of organizational learning is very similar.

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If there’s one important characteristic as a coach that I would like to transfer to my athletes, it’s the diplomacy and the maturity that can be honed from losing, because if you can do that, you will always be able to deal with adversity in your professional life. In the real world, people don’t always get what they want whether it’s with relationships or money or your job. There’s always going to be something that upsets you or that you can’t have. So learning how to deal with that at a young age will only help you as you grow older. By the way, I’m not professing that I’m a wonderful loser. I’m not. I’m still learning how to do it better. I focus on that with my kids as well.

]

“If you come to DeGroote and go to class only, you have cheated yourself.”

From left to right: Joseph Cruz, Nick Bontis, Mary Quintieri

[

[ ] “There’s a saying that I like which is ‘Pick your lane and go.’ It’s an analogy from racing. Whether you’re a runner, or a race car driver, or just driving on the 401, you have to pick your lane and get cracking.”

Q

WHAT HAS BEEN THE MOST VALUABLE LESSON YOU HAVE LEARNED THROUGHOUT YOUR LIFE AND IN YOUR JOURNEY TO WHERE YOU ARE RIGHT NOW?

There’s a saying that I like which is “Pick your lane and go.” It’s an analogy from racing. Whether you’re a runner, or a race car driver, or just driving on the 401, you have to pick your lane and get cracking. We all need space and time to grow, to be flexible, and to achieve what we want to achieve. I think the university experience is all about dabbling in as many things as possible and you do that in order to know what lane you want to compete in. This also applies to your professional aspirations. Nobody really knows what they want to be when they grow up. I don’t even know what I want to be when I grow up! I can tell you that I’m a professor today but that doesn’t mean I’m going to be one tomorrow. The way I see it, as soon as you know the answer to what you want to be when you grow up, you’ve made the biggest mistake already. We’re growing up in a world where things are changing and morphing all the time. Permanent employment is a figment of an old generation’s imagination. I get bored easily but one of the wonderful benefits of being a professor is the flexibility to pursue a variety of research interests and passions.

I think that the biggest mistake that a student can make is to not socialize and try out a million things when they are in university. They will never ever have another 5,000 like-minded people within a one kilometer radius of them as soon as they walk off campus and across the stage on convocation day. It’s done. You will never again have access to 500 clubs in various sports, music, interests and art. That’s what makes university campuses some of the most special places on earth. All the world’s largest initiatives have started on university campuses – protests, wars, riots, petitions, beliefs. It’s because this is the place that gives you the freedom to nurture your ideas. It is also one of the biggest gifts of being a professor –I get to relive my life as a student every September.

Q

AS A PROFESSOR FOR BOTH UNDERGRADUATE AND MBA STUDENTS, WHAT DO YOU HOPE TO SEE HAPPEN AT THE SCHOOL IN THE NEAR FUTURE? I was Director of the undergraduate program for 10 years and I loved every second of it. I’m really passionate about the undergraduate program. What bothered me the most was the fact that we couldn’t grow it. It has been capped at 600 students a year for a very long time because of the physical capacity limitations that we have on campus. It’s very unfortunate because the brand of the undergraduate program of DeGroote has grown so much during the last decade that we could have really grown the program by a significant amount.

This was a lost opportunity, and when there are lost opportunities, competitors pick up the remaining market share, and that’s what happened. Other business schools that are close to us have grown because we had to keep a limit.

Having said that, because we capped our supply and demand continued to increase, our cut off kept on going up. So our minimum high school entry average has consistently grown by about 1% every year for the last several years, which is good because it means that the quality of the program (and its students) is getting

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higher. This is critically important for current students.

When they graduate, the brand of the school will be higher than it was when they started and the credibility and the value of the brand will have stayed intact.

That’s what we want for DeGroote; we want the value of the degree to stay as high as possible and the school to continue to prosper.

I believe that the experiential opportunities at DeGroote are second to none. Many people know that I’m the Program Director for the McMaster World Congress. It’s the oldest student-run conference in Canada at any university. A lot of people don’t know that and it’s something we should be very proud of. We’ve been doing this longer than anybody and our conference sessions are always packed. That’s what I mean by experiential education. You can have Nick Bontis lecture about mergers and acquisitions in the classroom but it’s better to have a real executive come in from New York who actually signed off on a multi-billion dollar deal last week. On top of the MWC, we also have MARS, Top Ad Exec, the case method, the trading floor and many other examples of experiential education opportunities. We do this better than anyone else. I want DeGroote to become known as the “experiential education business program”. You can get a good business degree at lots of places but if you want something that’s applied and legitimized by real-life experience, go to DeGroote.

Q

“As a former business student myself, the one thing I can say to our Commerce students is this: I don’t remember all of my professors, I don’t remember a single exam, I don’t remember a single assignment, and Frankly, I don’t remember a single grade in any course I took.”

[ ][

WHAT IS YOUR MESSAGE TO THE STUDENT BODY OF THE DEGROOTE SCHOOL OF BUSINESS? WHAT IS THE MOST IMPORTANT ADVICE YOU CAN GIVE TO COMMERCE STUDENTS AT MCMASTER?

As a former business student myself, the one thing I can say to our Commerce students is this: I don’t remember all of my professors, I don’t remember a single exam, I don’t remember a single assignment, and frankly, I don’t remember a single grade in any course I took.

That’s such an important message for current students

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in the program now because if they want to fast-forward their life and ask themselves “I wonder when I’m 44 and married with kids, if I’m going to remember any of the things that stress me out in school?” The answer is no! What do I remember? Developing my network and socializing with the friends I made. I remember memorable events like the 72 hour cram session that I had for a case assignment, the events we hosted at a student club, the student associations that I was involved with, the sports that I played and all the people I used to hang out with – those are the things that you will remember.

There are certain individuals that will have a lasting impact and influence on your life, even twenty years later. I can tell you that there are 10 people that I went to business school with that are still in my life. But those 10 people are influential to me because of the things that I just described – the socialization, the sports, and the student clubs. What I’m trying to say is, if you come to DeGroote and go to class only, you have cheated yourself.

On average, 500 students walk across the stage. Of those 500 students, how many do I really know? 20% which is about 100 students. Of course, a subset of those students will stay in contact with me for years and even decades later. It’s extremely rewarding to engage with students from the first day they arrive in September of their first year, right through to the day they become President of their organization. For me, that’s what it’s all about!

The reality is that only 20% of students are actively involved in extra-curriculars and it’s that same 20% that are actively involved with everything. I’m not criticizing the other 80% because they may have other commitments (part-time jobs, family), and I understand that. But the opportunity to really extract a significant return on your investment is a major challenge when you don’t hang out on campus. Another way to look at it is as Director of the undergraduate program, part of my responsibility was to read your name as you walk across the stage at Convocation every year in June.

][

]

“The reality is that only 20% of students are actively involved and it’s those 20% that are actively involved with everything.”

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with Julie Ling-Ma DRESSING FOR POSITIVE TEMPERATURES AND EXPERIENCES Although the warmer temperatures seem like a distant fantasy with the stubborn winter we are having, spring will be ready to embrace us as we enter into finals and hopefully prepare for our summer internships and jobs. Allow me to make your fashion transition seamless as you prepare for a successful work term.

“ ”

Julie Ling-Ma 3rd Year Commerce Student

You can never be overdressed or overeducated.

Oscar Wilde

this issue’s theme:

“professional in spring”

GENTLEMEN:

Cotton is an appropriate alternative for suit fabric as the warmer weather may prompt you to yearn for lighter suits. The lightest of fabric is linen, which is usually reserved for the summer months. To prevent the worry and nuisance of wrinkled dress shirts, select dress shirts of a higher thread count. This will ensure wrinkle resistance and prove to be investments for their promising longevity. Please note that although some employers do not require ties, they are recommended to solidify the foundation of your suit. Keep in mind that the colour of your tie should be within the same colour family as your dress shirt, or complimentary to it.

LADIES:

As the temperature goes up, our hemlines tend to follow suit, but it’s important to be weary of this, especially in a professional environment. First and foremost, day dresses and skirts should remain within 1 to 2.5 inches of your knees. Sheer or nude hosiery is a must to go along with dresses and skirts - even in the summer months!

And don’t forget, the closed-toe shoes policy remains in effect during this season. While open-toe shoes are appropriate in casual and in semi-casual settings, elsewhere they are generally regarded as unprofessional.

Looking your best, especially as a young professional is very important. The way in which you present yourself will affect how others perceive you and the opportunities that are made available to you.

Remember, dress for the job you want, not the job you have!

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”

professional in spring HIS SUIT: Hugo Boss

DRESS SHIRT: Eton

TIE: Eton of Sweden

TIE CLIP: J. Crew t

SHOES: Fratelli Rossetti

HERS TRENCHCOAT: H&M PEPLUM TOP: New Look PANTS: Joseph POINTED TOE FLATS: Forever 21

EARRINGS: Pearl and Crystal Leaf Cluster

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3 SECRETS TO SURVIVAL:

T

SEASONAL BUSINESSES

WORDS // DAJANA RADIC

The typical peaks and troughs of the business cycle are compounded for seasonal businesses, as a large portion of their revenues is generated during only part of the year. The resultant fluctuations create unique budgetary and logistical challenges to overcome.

Located in Confederation Park, right on Hamilton’s waterfront, Hutch’s is much more likely to come to mind as place to grab some ice-cream or a classic diner-style meal during a warm sunny day, than it is during the colder months. In fact, business typically dwindles down to one third of its spring and summer levWe approached Rick Creechan, the Gen- els during the offseason. For Creechan, eral Manager of Hutch’s on the Beach, managing a seasonal business like Hutch’s for his secrets to running a seasonal busi- can be broken down into three core activness, and doing it well. After all, he has ities: increasing promotions, community been successfully managing the classic involvement, and approaching cost savings Hamilton eatery, famous for its fish and with extra diligence during the off-season. chips, for almost 40 years.

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1. Ramp Up Promotions Simply put, effectively increasing promotional efforts during the offseason results in higher traffic.

Creechan explained, “We do a lot of advertising that’s specifically geared up in the winter.” Additional advertising from the end of October to the beginning of March each year includes spots on CHTV and notices in the local newspapers. And according to Creechan, this strategy works well, at least for Hutch’s.

Drawing upon his lengthy history at the restaurant, he goes on, “For a long time, we had a problem with people thinking we were closed during the winter. Mr. Hutch always had this philosophy that word-of-mouth is the only form of advertising we need, and word of mouth is great when people aren’t running around saying you’re closed in the winter.” Since increasing their level of advertising during the winter months, Hutch’s has seen an increase in sales. Creechan jokes, “We always tell people: it doesn’t snow inside the restaurant!”

2. Don’t Forget the Power of Community Creechan also emphasized the importance of community involvement when it comes to keeping sales up during the offseason. Over the years, Hutch’s has supported a variety of community organizations and events, including the East Hamilton Optimist Club, the CIBC Run For the Cure, the Canadian Diabetes Association, and a variety of minor hockey and baseball leagues. Creechan advised, “It’s a really good idea to be community-minded because you’re doing something good for the community and you’re helping your bottom line.”

When we asked how Hutch’s has been able to tie their community involvement back to their bottom line, Creechan replied, “I’m behind the count er pretty well everyday, and I see the same people that I met at the community events. When you help out in the community, people want to support you back.”

3. Leaner is Meaner Finally, Creechan highlighted the importance of being even leaner in terms of costs during the offseason. He said, “You have to be a lot more careful in the wintertime to not to spend money that you don’t need to spend. For example, we always remind staff to be careful not to cook things too far ahead of time and then have to throw them out.”

Being lean may also mean laying off seasonal staff as the offseason begins. Hutch’s has about 20 core fulltime staff who remain constant throughout the year.

On extra slow days, they take turns going home early.

And employees seem to be happy with the arrangement. Hutch’s enjoys an unusually low turnover rate compared to industry standards, with a number of current employees that have been with the company upwards, of 10, 15, 20, and even 30 years. Speaking on how Hutch’s is able to retain employees, Creechan said, “We are flexible if they need to trade shifts or take time off. We also set up a benefits plan for them and offer a competitive pay compared to restaurant.” Hutch’s low turnover is an indication that it is a great place to work, and another way in which the business stays lean in terms of costs.

In the end, perhaps these three core activities aren’t exactly secrets. Maybe, more accurately, they constitute a simple and effective approach, tried and true, that has endured time (or at least more than 60 years) and proven to work in the real world.

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a st E P BY ST E P G U I D E : TO E X A M S U C C E S S Exams: a time of stress or a time to shine? You decide this season. This practical guide is aimed at helping DeGroote commerce students prepare and ace their April finals! Caution, this guide is not for the faint of heart. Although it is important to stay sane and healthy during the exam whirlwind, these are bare minimum requirements! Just like our Canadian Olympic Team’ at Sochi this year, DeGroote commies are going for the gold medal. We’re not just going to survive this season, we’re going to thrive and come out victorious!

WORDS // MARY QUINTIERI

1. PROCRASTINATION IS A TIME THIEF

heart-beat and difficulty sleeping. Exams already cause all of these symptoms anyway, so why add more debilitating fuel to your fire!? If you really need an extra boost, or just Just begin! The sooner you begin to study for your exams, like something tasty to sip on and keep you company as the better. Studying for exams before the season approaches you study; switch to tea! Many teas still have caffeine in is the best study strategy of all. This will reduce your stress them as well if you’re looking for an extra pick me up, just levels significantly and allow you to commit information to in a lesser dosage than coffee. long term memory and understanding, as opposed to shortterm memory and regurgitation. Even if it’s just reading a 4. WAKE UP DETERMINED, couple of chapters a day, getting into the study mindset and getting your momentum going is the biggest benefit you can GO TO BED SATISFIED receive from starting early!

2. OUT WITH THE NEGATIVITY, IN WITH THE POSITIVITY

Keeping a positive mindset during exams is literally half of your battle! This point may seem intuitive to many people, but recent positive psychology research studies are actually quantifying the importance of affirming good thoughts and words throughout your day. Regardless of how stressed, down or tired you may feel, it is really important to not entertain any negative thoughts, and even more importantly, to never declare them out loud through your words. Even if you have to fake it till you make it – wake up each morning declaring positivity over your day. Exams are only as daunting as you allow them to be.

Ah... the classic exam-time decision process: should I stay up late tonight and power through work and then wake up late tomorrow, or, do I go to bed early and get up super early to compensate? The answer to this question should always be: whatever will allow you to go to bed feeling satisfied.

FACT: In a mindfulness study by Carlson et al During a peak season like exams, going to bed feeling like in 2001, terminally ill patients who proclaimed you have wasted your day can be a horribly demotivating that they were healthy and getting better each feeling which can, and usually does, spill into the next day. day, did in fact, show signs of improved health Further, the stressful feeling of procrastination can often when evaluated in a 6 month follow up! Posi- be enough to keep you awake meaning you won’t even be tive affirmations work! able to get a good sleep! Sleep is not an easy way out. The only way out of exams is through them, which occurs in the

3. TEA IS THE NEW COFFEE form of preparation! With that being said, students are only Avoid becoming overly stimulated through guzzling down human and our body does need sleep! Know when to push copious amounts of caffeine-filled beverages such as coffee, yourself, but also acknowledge when you need a break – or even worse, energy drinks. Drinking these beverages in only you can make the call! excess can actually result in increased anxiety levels, rapid

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5. PLAN FOR SUCCESS

you actually know about the subject matter but rather how well you can answer the specific questions you are given. Do your homework on what your exam format is and then dive in.

7. SHORT TERM PAIN, LONG TERM GAIN

Creating a realistic study schedule before you enter the season is a great way to combat exam stress, keep you motivated and achieve results. In the thick of the busiest and most stressful time of the year; figuring out what to eat, let alone what to study, can feel like one of life’s biggest decisions! By creating a study schedule for yourself, you create the presence of stability in the midst of what feels like chaos! Knowing all you have to do each day is wake up and accomplish With all the stress and pressure that exams bring, it can your daily study schedule goals eliminates a ton of pres- be tempting to throw caution to the wind in an attempt sure and makes the whole exam process feel manageable! to “clear your mind.” Do your best to remember that the summer is around the corner and you will have plenty Another great way to plan for success is to calculate the of time to rest after exams. Despite any pleas from your mark you hope to get on your exam before entering. Pro- friends to “take the night off,” only take well-deserved fessors are usually courteous enough to provide you with breaks for the purpose of recharging your study batteries. all of your grades from the course before you enter into the Refrain from letting any fleeting and temporary gratificafinal. As a student, this is great news because it means that tion distract you from your end goal. Nothing feels better you can determine the exact the mark you need on the fi- than celebrating the successful completion of an academnal, in order to achieve the overall grade you desire in the ic year. And nothing feels worse than the lingering feeling course. Knowing that all your hard work is worth some- of regret which comes from not giving your all. thing, a specific grade, can really give you that extra push you need in the moments you may feel like giving up!

HINT: Allow a margin for error and set your goal 5-10% higer than the specific grade you’re going for.

6. DON’T STUDY HARD STUDY SMART In a perfect world, we’d all have enough time to read every word in our textbooks cover to cover, but exam time allows for this luxury about 0.0001% of the time. When it’s time to kick it into high gear, it’s time to focus on what will get you the best grade in the course. Strangely enough, this is not always synonymous with how much

8. DO THE BEST YOU CAN WITH WHAT YOU’VE GOT

Striving for success and pushing yourself to achieve it is always something to be aspired to. Yet when all is said and done, all that can be asked of you is that you give your all, whatever that may be at the time. Remember to keep the big picture in mind and that your grades, although important, do not define you.

FROM ALL OF US AT THE QP, GOOD LUCK ON EXAMS! 17

McMASTER INNOVATION PARK The Future of an Innovative Culture

I

In alignment with McMaster’s strong reputation for research, the McMaster Innovation Park (MIP) has allowed a platform for streamlining research, ideas, knowledge, and people. Since its establishment in 2007, it has been a hub for fostering an innovative culture; attracting people from a wide array of disciplines, from the social sciences to engineering. The nature of housing various start-ups, businesses, and research initiatives creates a mosaic of innovative minds where modernity and uncertainty are embraced.

The vision for McMaster Innovation Park is to be “an internationally recognized focal point for innovation, creativity, learning and research excellence aligned with the research strengths of McMaster University.”

WORDS // SAJID ALI

of tenants creating an innovative culture at MIP. He said: “We describe it as a process of co-locate, connect, and commercialize. Locating here at MIP puts tenants in the middle of the innovation ecosystem we support.

Connections to entities such as the Innovation Factory, intellectual property lawyers and McMaster Industrial Liaison Office among others support the innovation and commercialization process. Rubbing shoulders with others helps with cross fertilization of ideas. A company doesn’t necessarily have to locate here to access the environment, but it helps.”

There are several firms at MIP that speak to the diversity of Innovation Park, from Greening Marketing (a marketing firm with an emphasis on sustainability) to the United Nations University Institute for Water, Environment and Health (UNU-IWEH). The diversity of these groups attests to the open-mindedness of this new innovative culture.

Why Hamilton?

Hamilton is rated as one of the most favourable places “The Silicon Valley of Hamilton” to invest in Canada for its promising economic development, according to Site Selection Magazine and the Ethan Do, founder of OverAir Proximity Technologies, Real Estate Investment Network. said in an interview with the Innovation Park: “Being part of the Innovation Park greatly helps grow my business by creating these collisions amongst the companies that are here, from start-ups to research centres, and that helps with not only gaining experience but insights on where I need to go. But these people… I wouldn’t have connected with them without being here at Innovation Park… I call this place the Silicon Valley of Hamilton.”

Cross Fertilization In an interview with The Quarterly Profit, Zach Douglas, President and CEO of MIP, discussed the diversity

Steve Jobs’ ‘stay hungry, stay foolish’ mantra can be taken to heart at McMaster Innovation Park, as the facility is placed in a city rich with resources, sure to nourish it’s creative energy.

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WORDS // SAJID ALI

Five Phases of Innovation FROM THE INNOVATION FACTORY

The Innovation Factory, located in McMaster Innovation Park, is at the epicentre of innovation in Hamilton. The creation of value from ideas is at the core of innovation and the Innovation Factory harnesses the power of these ideas as a tool to revitalize the city. David Carter, Executive Director of the Innovation Factory, has taken the complex process of innovation and simplified it into a succinct set of five phases: Idea, Discovery, Validation, Efficiency, and Scale.

These phases extend beyond the world of business and entrepreneurship and are universal in their ability to guide innovators through the process of generating an idea and getting it out to the world. Whether it is about starting an entrepreneurial venture or putting together a school club, we encourage DeGroote commerce students to use David’s five phases and get innovative this summer! The five phases of innovation are for building something, even if it’s not a product.

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Idea

1 2

“If you’re going to start something, it starts with an idea.

You’ll have to start to formulate your thoughts, ideas, and do your research to see if there’s a market, even if it’s not a product you’re going to sell. For example, if it’s an association you want to form, you can do the same thing. Are people going to show up at the meeting if I form an association? They always sort of joke about the back of the napkin, but that’s because inspiration happens at odd times.

You’re doing something and you need something and you go, ‘Gosh, I wish that product would exist,’ or ‘I wish that service would exist,’ or ‘I wish that association was something I could join.’ The journey starts off with that first step. G.O.Y.A.A.D.I. [Get Off Your ** And Do It].”

Discovery

“The discovery part is: How do you test it? If it’s a piece of software, you write a beta version of it that people can play with and if it’s an association, maybe it’s a first meeting. The discovery phase is where you’re going to get feedback from a customer. That’s so important because one of the problems we have is an entrepreneur comes in, comes up with an idea, and it’s very emotional for them. They have this great idea and it’s like a child to them. They

don’t want to show it until it’s polished. They don’t want to say, ‘It’s an idea, it’s rough, and I haven’t thought about some things,’ which is unfortunately a problem because those are times when you get great feedback. The problem is people get stuck in the idea phase or even the discovery phase, but the Devil’s in the details. Probably the hardest thing is to get these people to go through this discovery phase and accept feedback and criticism, or worse - if it’s not a good idea, getting sent back to the drawing board.”

Validation

3

“When we talk about validation, the question is, ‘How did you prove it was a good idea?’. For an entrepreneur, customers buy your product. It’s the best proof. If we were to go to the other side of the spectrum to associations: Do people join the association? Do you have a membership of people coming to it? In early stages, if you’re a founder and you’re passionate, you can go out and sell because you’re good and passionate, but that doesn’t mean an idea is going to scale.

For an association, you can get all your best friends to come and support you in this meeting, but it doesn’t mean that when you’re putting this out to strangers it will be successful. That’s the biggest tipping point for entrepreneurs.

You’ll see some great ideas at the Innovation Factory and some interesting products, and a lot of them still aren’t at validation because they just don’t have that standard customer coming through. You could even be a pretty big company and still not have validation. Then you get someone on an infomercial: ‘This is ShamWow. It cleans up spills.’ The product has a targeted audience and does one thing really well, so people buy it. If you get past that point, life is good, because if you can predict who’s going to buy it, then you can start talking to investors. Now you’ve got all the numbers that support it and you say, ‘I put in this much money and this many sales came out.’ Investors love that! Investors say, ‘Ok, well if you put in this much more money, more sales will come out.’

“

At the validation stage, to get that sweet spot, you have to know all the numbers and have all the data. If you needed to do one more specific thing to grow your company, it’s all about knowing which thing you would pick. The answer from this comes from being to properly measure your successes. You hear about the companies that are getting bought- WhatsApp was the big one that went up recently.

They had proven how many users they had and that they could perform customer acquisition. It would be nice to be on that side of it. That’s kind of the glory spot of entrepreneurship. And after that, you’re running a business.”

Efficiency

4 5

“Think of any business. How are you going to run it more efficiently? That could be your operations, it could be your call centre for customer support, or it could be how you manage your sales people. That’s dependent on the sort of business that you’re in. Efficiency adds value in the form of cost savings which is always one of the biggest issues for a start-up company.”

Scale

“If you’re doing things right, and now you’re efficient, how do you scale it? You could scale it by saying: ‘Ok, I won the 18-35 women’s market, I want my business to actually go broader. I want to go to men in that age,’ or ‘I won the Canadian marketplace, I want to do this in Europe,’ or ‘I work in the software business and all the banking sector buys my software, how do I get this other industrial sector to buy it?’ That’s where you start shifting your business sideways to make the market bigger.”

The journey starts off with that first step.

G.O.Y.A.A.D.I.

”

[Get Off Your A** And Do It].

David Carter, Executive Director of Innovation Factory

WORDS // MARCO COCCARI

CANADIAN INTERNATIONAL AUTO SHOW

E

ver since I was young , the best part of

every February has been attending the

Canadian International Auto Show. However, in recent years, I’ve found that the significance of the day for me extends far beyond simply marveling at the beauty of the new vehicle releases.

also owns Ferrari, Maserati, Ram, SRT, Jeep, Lancia, Alfa Romeo, and Dodge. Wildly popular in Europe since its inception in 1899 in Turin, Italy, Fiat just recently entered the Canadian market and is returning to the US after 27 years.

The interview I conducted with Broadbear is to the right.

The show unites some of North America’s most influen- The analysis is predominantly my own, imbedded with tial companies and executives to discuss the future and some of Broadbear’s insights as well. vision of one of the most relevant industries since the creation of Ford’s Model T. This year, as a result of my Check out my YouTube channel for the latest in cars! efforts as a YouTuber, I was fortunate to be allowed to http://www.youtube.com/user/justcallmecocco attend the event as a member of the press, and I had an awesome experience. I participated in a press conference and question period with CEO of Fiat Chrysler Automobiles, Sergio Marchionne, and I even caught up with Edward Broadbear, VP of Marketing at Chrysler Canada, for a few minutes to discuss the future of the automotive industry. Broadbear also discussed career prospects in this industry for any fellow students and car enthusiasts who are considering pursuing a career in this field.

This year, Chrysler hosted the event and had the largest display. Chrysler recently sold the remaining 41.46% of its shares to Fiat for $4.35 billion, which means that the company is now wholly owned by Fiat. Currently, Fiat

22

Interview:

Edward Broadbear VP of Marketing - Chrysler Canada

Q

What was the main reason for the merger of Fiat and Chrysler?

will look similar. The base price for the 2015 Chrysler 200 is around $22,000, which is very competitive for its segment.”

I had the chance to sit in the 2015 Chrysler 200 and I was extremely impressed. The looks are phenomenal and the materials were comparable to any German/Italian competition. It really is a great looking car, with somewhat more European styling to it. I think the rear looks similar to the Audi A7 and it’s a good thing because that is a very good-looking car.

“Fiat is strong in small cars, luxury sport cars, like Maserati and Ferrari, and even commercial vehicles. Yet, Chrysler’s strengths are SUV’s, larger cars, and minivans, leaving little overlap in their market segments. Also, Fiat is strong in South America and Europe, and Chrysler is strong in North America. As a result, we are now giving Fiat better access to our market. Roughly 8000 of the 500’s were sold last year in Canada, and that is 8000 sales we would have never had if we had not merged Fiat with Chrysler.

The Fiat 500 is actually the bestselling car in its ‘micro car’ What opportunities exist for students segment.”

who may be interested in a career in the Both automakers will become more popular on a global automotive industry? scale and increase sales. One of the huge factors that came “There are many opportunities. My own Windsor departinto play with the deal was that Chrysler and Fiat have ment, has hired roughly 25 people in the last 4 years in a existing dealerships around the world. Mr. Broadbear variety of backgrounds, including marketing, accounting, said they would only need to slightly expand the current and computer programming. However, the marketing dealerships rather than build all new infrastructures that and sales department is much more involved with the would cost billions of dollars. Fiat is making great head- cars and gets to attend the auto shows and work with the way in the North American market as they have begun to dealers compared to their department, like accounting.” open up a number of dealerships across the country along- side their other established dealerships.

Q

Q

The new Chrysler 200 has been receiving extremely positive reviews aesthetically, is this what future models will look like?

“This is the new face of Chrysler, but we will not just see bigger versions of the 200. However, the front of the cars

There are a variety of rewarding internship and career opportunities in various fields within the industry available.

Broadbear emphasized the importance of the marketing to car companies, as well as, how important it is for the cars to be as good as they are advertised to be.

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AUTOMOTIVE INDUSTRY OUTLOOK

2014

With insight from

Sergio Marchionne CEO of Fiat S.p.A

WORDS // MARCO COCCARI

I

leaned valuable acumen on the automotive industry from the press conference and question period I attended at the Canadian International Auto Show, featuring the CEO of Fiat Chrysler Automobiles, Sergio Marchionne. Marchionne’s insights coupled with some additional secondary research have formed the basis of the industry outlook.

Marchionne went on to explain that the major automakers are reporting profits along with increases in quality, efficiency and design of the cars. He emphasized, “The reconstruction of the North American auto industry is officially complete.” A number of research firms have estimated the increase in auto sales will be between 3-5% for 2014. Kelley Blue Book has predicted sales to reach 16.3 million units for 2014, in comparison to 2013’s 15.6 million Overall, it has been nothing but bad news for the automo- units. tive industry in recent years. In particular, the big three automakers, General Motors, Ford, and Chrysler have re- What does this all mean? Well, with growth in consumer ported poor sales results and lackluster demand. However, confidence and rising sales for all major automakers, we despite all the news about the sluggish but growing econo- will most likely see an increase in the number of jobs asmy in the United States, automakers have been forecasting sociated with the car-manufacturing sector. According nothing but positive news for 2014. Marchionne affirmed, to Investopedia, the increase in jobs associated with the “The industry is just coming off its best sales year ever auto-manufacturing sector will be coupled with earnings in Canada with hopes for another strong year based on upwards of 11% for the industry, placing it amongst the improving consumer confidence, increasing demand, and better performing sectors. However, revenue is expected low interest rates.” to increase only by 2.7%.

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THE FIAT 500e,“environmentally sexy”

[ A GREEN FUTURE ] Huge emphasis has recently been put on vehicle fuel consumption, alternative energy sources, and emissions in regards to automobiles. Research and development has never been more competitive with each automaker attempting to build more powerful yet smaller pollution emitting vehicles. In response to the growing demand for hybrid and electric vehicles, Fiat, along with Ford, BMW, Mercedes-Benz and even Ferrari have developed cars to meet these requests.

mentally sexy,’ and rightfully so, as it is one of the better looking electric vehicles on the market in comparison to Toyota’s Prius lineup and the Nissan Leaf.

Pressure on automakers is increasing to invest in building electric cars and it is no easy task. These cars are extremely expensive to produce and the technology needed to keep them running is sophisticated to say the least. There is huge potential for engineers entering the market for designing and improving the current range that these vehicles are capable of travelling. As a result of the high production costs, you will see these cars are priced much higher than those Edward Broadbear, VP of Marketing at Chrysler Canada, without similar technology. However, within the next few revealed that the State of California has recently mandated years, we should see the prices of hybrid and electric vehithat automakers offer an electric vehicle in in their product cles come down and more of them on the road, especially lines or risk not being allowed to sell the rest of their mod- with great incentives being offered. els in that state. California has taken such measures knowing that most automakers would be smart enough to pro- The future of transportation lies within hybrid and electric vide an electric vehicle or endure a huge loss in sales. Fiat, vehicles along with the fuel-efficient small cars. We see auwith a huge market in California, came out with the Fiat tomakers are slowly making this transition with cars like 500e. This tiny vehicle is 100% battery powered, creating the Fiat 500e. However, don’t expect combustion engines zero tailpipe emissions without compromising the luxury to disappear anytime soon, as they have become extremely and design of an Italian car. Fiat calls the 500e ‘environ- fuel efficient and much more affordable than in the past.

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T

he 2015 Corvette Z06 is hungry and hunting. The Italians and German better keep an eye on their cars...

It features a 6.2L supercharged V8 engine, cranking out 635 lbs/ft of torque and 625 horsepower. That, my friends, is what you call American muscle.

FUN FACT: The 2015 base model Corvette has more horsepower than the last generation Z06.

2015 Corvette Z06

2015 Jaguar Coupe

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R

ecently, some of you may have no- ticed that Jaguar has introduced new cars in its line up, something that the company hasn’t done in a long time. Some would say that the wait was worth it, because the new 2015 Jaguar F-Type Coupe has got the Germans genuinely worried. The car has a base model with a V-6 starting at $65,895 and the extremely powerful supercharged V8, R model checking in at $99,895 with 550hp. My only question now is, does the girl come with it?

FUN FACT: She doesn’t… #GoodToBeBad

D

as Auto. The 2015 Volkswagen Golf GTI is one of my favourite cars. 2015 marks the seventh version of the first rabbit which has retained much of the styling queues that originally made the hot hatch so desirable. Still as good looking and sporty as ever.

FUN FACT: Volkswagen means ‘people’s car’ in German.

2015 Volkswagen Golf GTI 2015 BMW i8

T

he BMW i8 has got to be one of the most unique cars I have ever seen. Want to hear more about it? Watch the video on my YouTube page!

http://www.youtube.com/user/justcallmecocco

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A recent report by the Conference Board of Canada confirmed that beer is the most popular alcoholic beverage in the country, with volume sales reaching a staggering 2.3 billion litres in 2012. Further, the beer industry accounts for one out of every 100 jobs in Canada and contributes $5.8 billion in tax revenue each year. But the industry’s outlook is not exactly promising. A report by Stats Canada revealed that overall beer sales have witnessed sluggish growth in recent years as consumer demand shifts towards wine and spirits, with volume sales of domestic and imported beer in 2012 increasing by 0.6 and 0.7 percent respectively.

The exception to the trend? Craft beer. Craft beer is produced in limited quantities by smaller, often independently owned brewers who place emphasis on flavor and brewing technique. Popular Canadian craft brewers include Steam Whistle in Toronto, Granville Island in Vancouver, Propeller in Halifax, and Alley Kat in Edmonton.

A BMO Nesbitt Burns report described the beer market as undergoing a ‘structural shift’, with craft beer approaching 6 percent of market share and 10 percent of industry revenues.

A Stats Canada report aligns with these findings, revealing that volume sales of craft beer in Canada have risen between seven and ten percent in recent years, far outpacing overall industry growth.

With this in mind, and in the spirit of St. Patty’s, of course, we’ve decided to take a closer look at the business of the craft brewing industry here in Ontario.

The Business of

CRAFT B

AN INDUSTRY IN ASCENT

As mentioned, the craft beer industry has experienced high growth in Ontario in recent years. To further quantify, according to the Ontario Craft Brewers (OCB), the number of craft breweries in the province has doubled since 2005, climbing to 62 locations in operation by the end of 2013. The industry’s growth is apparent in its sales figures as well. The LCBO reports that craft beer sales have increased by 575 percent since 2006 in their stores, with a 33 percent increase from 2012 to 2013.

However, craft beer still represents only about 2.5 percent of total provincial beer sales. This is notably less than the five to eight percent market share that craft beer captures in other provinces such as British Columbia and Quebec.

This may be at least partially attributed to our province’s distribution system, and indicates that there is more room for the industry to grow.

The province has been supporting the industry. Last July, A UNIQUE LANDSCAPE Ontario’s Ministry of Economic Development, Trade and Described by the Wall Street Journal as ‘one of the world’s Employment announced that the Ontario MicroBrewery Strategy would be renewed, with 1.2 million dollars allotted more unusual beer-selling environments’, many are surto the province’s microbreweries annually from 2014 to 2016. prised to learn that the Beer Store, where about 80% of Ontario’s retail beer sales occur, is owned jointly by An-

28

BREWING

WORDS // DAJANA RADIC

in ontario

heuser-BuschInBev, Molson Coors Brewing, and Sapporo Holdings. This isn’t the case in other provinces.

space is typically allocated based on market share, once again placing small brewers at a disadvantage.

Craft brewers and other critics of the current system have expressed desire for change, insisting that the giants’ control of the Beer Store gives them an unfair competitive advantage. Many argue that listing prices to stock products in the Beer Store are too high for small breweries, and that that there is a lack of in-store promotional opportunities.

As explained the Wall Street Journal article, about 60% of the Beer Store locations are designed such that customers go to a counter to order their beer from a menu. This store format favours brewers with large marketing budgets. The other 40% of stores are self-serve; meaning that customers select their beer from coolers or pallets. However, shelf

DEMANDING CHANGE

Facing increasing pressure, Premier Kathleen Wynn has stated that the provincial government is engaged in discussion with the Ontario Craft Brewers association to seek ways to improve beer distribution, the Toronto Star reported. Ideas that have been raised include establishing specialty craft beer stores allowing sales in convenience stores.

However, no significant progress has been made regarding the issue.

IN ONTARIO 29

D

king of your own castle WORDS // ALEXANDER KARPENKO

uring a RedBull fueled night do you ever wonder why you’re doing all of this? Why not just go to bed? It’s comfy, warm and it’s time you let those bags under your eyes subside. Aside from learning for the sake of learning, you’re also at DeGroote to improve your career prospects. This will allow you to become financially independent. Providing everything you need for yourself, by yourself, is one of the most liberating experiences one can have. Embodied in financial independence is the ability to own your own home! But before you call your real estate agent, we’re here to teach you the basics of what you can be doing today to help yourself in the ultimate quest of becoming a homeowner.

According to the 2011 “National Household Survey”, approximately 69% of Canadians own their home which is a considerably high number when evaluating the statistics of many less fortunate countries across the globe.

Yet, many Canadians do not have the financial freedom to own a home and this privilege is one which creates a significant amount of responsibility and stress, if not planned correctly.

The most pertinent question of course is, “What can I afford?”

Pre-approval for a mortgage is a process that can be done at your bank with a teller who specializes in mortgages.

It is a short and informative session that will put your finances into perspective. The teller will help you determine what you would be able to afford based on your income, expenditures and previous debt obligations (car loans, credit lines, credit cards etc.) It should be noted that once you have selected the property you want to purchase with your realtor, you need to have the mortgage approved for the specific property you’re buying.

Many analysts have been very bearish on Toronto’s real estate market. Analysts from Deutsche Bank stated that

30

Canadian home prices were the most overvalued in the world. They estimated the overvaluation at 60 per cent in a December economic report. However, a report from Bank of America Merrill Lynch said that, “housing crash fears are over done”. Due to extremely low interest rates, high housing prices are justified. This is one of the hottest topics in Canadian economics at the moment and has a direct impact on what you can afford! Although a crash in the housing market would not signal a healthy economy, it would mean that prices are lower therefore, you could get more bang for your buck. Be sure to pay attention to new information on this topic!

NOT ALL MORTGAGES ARE CREATED EQUAL:

3 Important Characteristics

1 THE TERM OF THE MORTGAGE

This is the period of time that the mortgage conditions and stipulations are in effect.

OPEN: Open mortgages can be paid off in

part or full without financial penalty. This

financial flexibility causes rates to be higher.

CLOSED: Closed mortgages which carry

restrictions on prepaying your mortgage.

AMORTIZATION

2

3

The amortization is the number of years required to pay off the entirety of the mortgage.

THE MORTGAGE RATE

Determines the interest on the mortgage and the two most common types are fixed or variable-interest rates.

FIXED: Fixed rate mortgages imply a fixed

interest rate which is included in the term

of the mortgage.

VARIABLE: Variable rates are flexible and

depend on the term as well as the national

interest rate set by the Bank of Canada.

INTEREST RATES:

Bank of Canada will lower interest rates, which makes borrowing more accessible to companies allowing them to invest and expand, which spurs growth. As the economy begins to gain momentum interest rates should rise, unless the Bank of Canada continues to keep them artificially low to encourage investment spending. Currently analysts are still predicting house price growth in the near future. However housing prices will decline as interest rates increase. Analysts from Bank of America Merrill Lynch are forecasting a gradual five to ten percent decrease in house prices over a couple of years.

DOWN PAYMENTS: The more you put down, the more you go up!

With the average home prices in Toronto hitting $547,107 and the national average increasing to $388,553 make your life easier and start saving now. Getting approved for a mortgage becomes infinitely easier with a large down payment. A down payment is an amount of money you have (not borrowed) which you are immediately paying against the total debt outstanding from your home. The bigger the down payment, the less you will have to borrow and the less you have to pay back.

One of the easiest and most effective ways to start saving is via automatic savings programs. If you’re currently employed, the bank will automatically deposit a predetermined amount from your paycheck into a specified savings account. Over the years, this can grow into the majority of your down payment.

Your best friend or your worst enemy?

It is imperative that you pay attention to what is going on with interest rates in Canada before you chose to If interest rates are low your monthly payments will be buy. You can do this by following the news or by checklower, but if interest rates are high then so will be your ing in with your mortgage advisor. payments. A fixed interest mortgage will not be affected by changes in the interest rate. However, variable-rate Now would be a good time to mortgages will be affected. Usually, interest rates don’t change abruptly. They follow the economic climate. start studying the market, if you If the economy is booming, central banks will usually want to be the King (or Queen) of raise interest rates to accommodate the boom and keep your own castle one day! it sustainable. When the economy is in a recession, the

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BEEF UP YOUR RESUME Are you having trouble finding a summer job? You’re not the only one. According to the Canadian Centre for Policy Alternatives, Ontario’s unemployment rate for youth between the ages of 15 and 24 is at about 16%. This rate is the lowest in the country aside from Atlantic Canada.

But, don’t let this discourage you! Use this opportunity to spring into action, be productive, and find ways to beef up your resume over the summer to increase your chances of getting your dream job next year. These tips will, without a doubt, put you ahead of your competition and give you the experience and skills you need for your future!

WORDS // LAUREN ZYLIK

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EDUCATION SCHOLARSHIPS There are numerous scholarships available for commerce students to receive based on academic achievement, community involvement, and display of leadership. Some of these do not require applications and are awarded to outstanding students while others do require application, and this is where you are required to pay attention!

HOW The deadline to apply for scholarships requiring applications is April 15th 2014 for students with a cumulative average of at least 8.0 and no failures. Students will be notified in late July and mid-November each year of any awards that they are eligible to receive. Here is a link leading you to all of the scholarships available to commerce students exclusively: http://130.113.236.37/CALENDAR/current/pg1171.html

QUICK TIP

The format that we have used for this article is also the same format that you should apply on your own resume. List your resume in the order of: education, work experience, skills and qualifications, volunteer experience, extra-curricular experience (and interests).

WORK EXPERIENCE UNDERGRADUATE RESEARCH PROGRAMS Over the summer seven undergraduate commerce students will have the chance to work with professors to conduct research on relevant topics in business.

This program encourages students to take part in faculty research they are truly passionate about and is ideal for the summer as many professors allow students to work from home!

HOW Speak to your professors regarding assisting them in their research projects or creating your own projects as early as possible (before April). Professors will then organize interviews and select students to conduct research over the summer. Typically interviews are held in late March to early April so be sure to talk to your professors soon.

HINT The CPA/DeGroote Centre for Research Awards is accepting accounting related research proposals which demonstrate progressive thinking in the field. A $1000 cash bursary is awarded to the student proposal selected! The deadline to submit a proposal is March 31st.

33

TEACHING ASSISTANT POSITIONS If you’re sticking around campus this summer, you may want to consider applying for a summer Teaching Assistant position. A job like this will display great leadership skills and proficiency in important subject matter, both of which are sought after by employers!

HOW Summer TA positions are not available yet but will be posted in early April, so keep an eye on the DeGroote website under the “Undergraduate Programs” tab (http://www.degroote. mcmaster.ca) for open positions!

SUMMER INTERNSHIPS ON OSCARplus OSCARplus is McMaster’s online portal where employers can post jobs and students can register for events, internships, and many other opportunities. In the “Business Student Job Postings” section you can find advertisements by employers looking for summer interns, predominantly in areas like marketing, product development, and investment analysis.

HOW Deadlines to apply vary depending on the employer and are listed on the website. Here is the link to search through available summer internship opportunities for all undergraduate students: https://www.oscarplusmcmaster.ca/myAccount/jobPostings/business/businessStudents. htm

BACK-UP PLANS

COURSERA An educational platform that partners with top universities and organizations worldwide, to offer four to twelve week long courses online for anyone to take, for free! You can earn certifications of completion of courses from impressive universities all over the world like Princeton, Stanford, and Yale!

HOW Just go to the coursera.org and enroll in a course for free. This option is an easy and inexpensive way to stay productive over the summer, and can be completed in the comfort of your own home!

SKILLS AND QUALIFICATIONS COMPUTER RELATED SKILLS McMaster offers 1-2 day computer-training workshops, including Access, Adobe, Dreamweaver, and Excel. These in-class, hands-on workshops take place between April and July.

HOW Classes fill up quickly so register as soon as possible. The following is a link to a schedule of the upcoming workshops to attend, and online registration. https://www.mcmastercce.ca/computer-training/schedule

So you didn’t land that summer job…do not panic!

LANGUAGES Based on your level of

SUMMER SCHOOL

SLIGHTLY COMMITTED Duolingo App: Learn Spanish, French, German, Portuguese, Italian, and English for free through this smartphone app! Work through the tutorials and progress in learning a language at your own convenience in the palm of your hand!

A great way to gain a competitive edge this summer without working is to take summer school courses, which will lighten your course load next year and place you in a better position to start the next academic year with regained focus and great marks for next year’s summer recruitment.

34

HOW Summer school course registration will become available on SOLAR on March 21st.

commitment, here’s how to become multilingual:

MODERATELY COMMITTED Rosetta Stone: Learn any language through this software that uses images, text, sound, and video to teach words and grammar. Choose from over 30 languages and work through this program on your own time and convenience.

FULLY COMMITTED McMaster summer course: Learn a language over the summer by taking a course here at Mac! In a shorter, more condensed amount of time (around 6 weeks), you can acquire a language, which will set you apart when applying for jobs.

HOW Undergraduate registration for summer courses will be available on SOLAR on March 21st.

INTERNATIONAL STUDENT SERVICESES WORK AND STUDY ABROAD PROGRAM International Student Services’ (ISS) Work and Study Abroad program allows students to take a language course abroad in a country of your choice. Not only will you learn another language, but you will be immersed in a whole new culture and become familiar with it.

HOW Applications are due at the end of April, depending on the country you choose to go to.

Follow this link for the experience of a lifetime: issapps.mcmaster.ca/reflib/main.cfm

VOLUNTEER EXPERIENCE VOLUNTEER IN THE COMMUNITY

VOLUNTEER ABROAD - AIESEC AIESEC is an international student-run organization that allows young people to explore and develop their leadership potential. Through global internships and volunteer programs, they enhance youth leadership development at for-profit businesses and non-profit organizations.

HOW If you are interested in working or volunteering abroad this summer, sign up on aiesec.ca

by April 1st. Interviews will begin on April 5th. For inquiries, contact: vpogx.mcmaster@gmail.com.

EXTRACURRICULAR ACTIVITIES JOIN THE QUARTERLY PROFIT! Becoming a part of our team will allow you to contribute to the DeGroote community in a way that best suits you, whether through writing, designing, or increasing awareness through social media. This creative atmosphere is fun and inspiring and is sure to add value to your resume and DeGroote experience.

HOW Become a part of the 2014-2015 QP team by emailing magazine@degrootecommerce.ca. It’s as simple as introducing yourself and telling us how you would like to add value to the magazine! Applications will be available before the year ends so keep an eye out for them!

GET INVOLVED WITH THE DCS! Joining the

Volunteer Hamilton gives you the opportunity to make a difference in the community. With over 160 not-for-profit organizations in Hamilton, there is no reason for you not to volunteer.

DeGroote Commerce Society is a great way to connect with the fellow commies at McMaster, whether it’s by creating, coordinating, or promoting various social and academic events.

HOW There is an online database of not-for-profit organizations available at www.volunteerhamilton.on.ca. Visit this page and apply for an opportunity that best suits you.

HOW Check out the DeGroote Commerce website (http://degrootecommerce.ca) where all positions you can apply for are posted. Applications for most positions are already out and due on March 20th.

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...how do I deve and find a job

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he answers on the next page 37

INVEST IN YOU: TRANSFORMATIVE Leadership experience Dr. Teal McAteer | mcateer@mcmaster.ca |www.dr-T.ca WHAT IS IT? Dr. McAteer is a professor at the DeGroote School of Business at both the undergraduate and graduate level. She designed the phenomenal TLE course which is offered to second year Masters level students. After witnessing the amazing success and personal growth of the Masters students who have taken the TLE course, Dr. McAteer is extending the curriculum privately to undergraduate commerce students this summer.

The six week journey will include: • one-on-one coaching • creating three developmental goals (personal and professional) which feed into the achievement of your vision • the design of an action plan with specific implementation items for your leadership development journey •a customized program involving analysis of data from several of your self-scored and 360 degree diagnostics • two reflection journals which will identify your progress and next steps

> > > > > > > > >

WEEK 1- May 5th

WEEK 2- May 12th

Initial meeting with Dr. McAteer to discuss customized program content, format, expectations, and diagnostics used to collect information on many areas such as: how you think, handle stress, manage conflict, embrace change, communicate with various people at different levels, etc.

You will be gathering this data using self-scored and 360 degree feedback methods.

Full day group debrief on results from your tests, how to prepare your individual leadership vision statement, assistance in choosing three developmental areas that you wish to work on, recognition of symptoms of problematic areas, action plan preparation/completion, and submission of Transformative Learning Experience (TLE) #1 Journal Report (Dr. McAteer will review and provide suggestions).

WEEK 3- May 19th

Movement through leadership development journey, one-on-one coaching with Dr. McAteer and progress checks towards achievement of leadership vision.

QUICK FACTS

WHY DO IT? Make the positive, personal changes you always dreamed of - the time is now! The six week Leadership Coaching Program with Dr. McAteer will allow you to formulate a vision of the leader who you wish to be in both your personal and professional lives.

Much like writing a corporate vision statement, Dr. McAteer will help you formulate a picture of yourself in a mantra-like statement that you will carry with you wherever you go.

• The program costs $2500.00 which includes one on one coaching and industry standard diagnostic tests.

• The program will run from May 5th 2014 to June 16th 2014.

• Please feel free to contact Dr. McAteer if you have any additional questions, requests or would like to enroll in the program.

Here’s what some MBA students have to say about their experience:

> > > > > > > > > WEEK 4- June 2nd

Continued movement through leadership development journey, one-on-one coaching with Dr. McAteer and progress checks towards achievement of leadership vision.

WEEK 5- June 9th

The final week of movement through leadership development journey, one-on-one coaching with Dr. McAteer and progress checks towards achievement of leadership vision.

WEEK 6- June 16th

Closure: submission of TLE #2 Journal Report (discussion of progress, critical learnings, identification of next leadership development steps; final session with Dr. McAteer).

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GET INFORMED OUTSIDE OF THE CLASSROOM TOP BOOKS OF 2014 Everyone loves a good read. Hot off the press, here are some new books that are sure to not disappoint!

Whether it’s lounging by the pool in the summer, or during a work break at the office, pick up one of books to drive your education further!

Leaders Eat Last Simon Sinek (January 7)

Thanks for the Feedback Douglas Stone & Sheila Heen (March 4)

The Second Machine Age Erik Brynjolfsson (January 20)

Coming Soon...

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Invisibles David Zweig (May 15)

Thrive Arianna Huffington (March 25)

Think Like a Freak Steven Levitt & Stephen Dubner (May 13)

MARKETING

Accounting

May 27 and 28

August 20th-22nd- Toronto

2014 CANADA MARKETING SUMMIT

KPMG EXECUTIVE LOOK CONFERENCE

CMA NATIONAL CONVENTION FEATURING THE ART OF MARKETING

Toronto, March 28th-30th 2014

DELOITTE NATIONAL LEADERSHIP CONFERENCE CANADA

August 18th, 2014- Toronto

FINANCE

June 4-6th 2014- Niagara Falls

2014 #EYHEADSTART PROGRAM Summer 2014 -Toronto

HEDGE FINANCE UNDERGRAD CONFERENCE

PwC’s TALENT ACADEMY June 16-18, 2014

August 20th-22nd, 2014 -Toronto September 10 – 12, 2014 -Whistler, BC

ENTREPRENEURSHIP and MAnagement

ECONOMICS

Wednesday May 14th 2014, Missisaugua

FEI ANNUAL CONFERENCE

CFLA ANNUAL CONFERENCE

EXPLORING THE EVOLVED ECONOMY WITH PK SMITH

TORONTO ENTREPRENEURS CONFERENCE CHANGE MANAGEMENT 2014:

March 29 2014

May 5 - 6 2014, Toronto

MISA ONTARIO ANNUAL CONFERENCE,

2014 SPRING NATIONAL JOB FAIR AND TRAINING EXPO

June 8 - 11 2014, Ottawa Convention Center

April 2 and 3, Toronto Convention Centre

TED Talks

SIMON SINEK:

How Great Leaders Inspire Action

ELIZABETH GILBERT

Your Elusive Creative Genius

STEVE JOBS

How to Live Before You Die

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to encourage you to Spring into Action... we put together mantras from iconic culture makers and brands, and most importantly from our very own DeGroote faculty and staff!