Viewpoints, Spring/Summer 2014 - Sauder School of Business by UBC Sauder School of Business

THE DIVERSITY AND LEADERSHIP ISSUE

SPRING/SUMMER 2014 • VOLUME 34 • NO 1

A MAGAZINE FOR ALUMNI AND FRIENDS OF THE SAUDER SCHOOL OF BUSINESS AT UBC

More than putting our best face forward

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The diversity and leadership issue ALUMNI STORIES

Bob Gayton, BCom 1962

Marica Rizzo, BCom 2010

“We all should know that diversity makes for a rich tapestry, and we must understand that all the threads of the tapestry are equal in value no matter what their colour.” – MAYA ANGELOU

IN EVERY ISSUE

Viewpoints from the Dean

Sauder Index

Newsworthy

Actuals

Earning Interest

Insider Information

Class Notes

Reunions

Points of View

COVER STORY Diversity starts with you Made better through differences: Viewpoints considers how life is made better for individuals, our communities, our businesses and our schools, when we embrace thinking that is different from our own.

Sauder Dean Robert Helsley reflects on the values of our school and community and the central role they play in his thinking.

Cover photos by Mark Mushet

Sauder finance professor Kai Li has a knack of asking questions that turn traditional finance thinking upside down. She has recently been asking how women improve decisions around corporate acquisitions.

alumni@sauder.ubc.ca facebook.com/SauderAlumni Twitter.com/ViewpointsMag twitter.com/ubcsauderschool

New Montalbano Professor in Leadership Studies: Women and Diversity Jennifer Berdahl says gender and economic equality may result from, and nurture, humanitarian values that lift everyone up within a country.

linkedin.com/company/sauderschool-of-business-at-ubc

Ch’nook program is succeeding at increasing Aboriginal engagement in business studies.

VIEWPOINTS SPRING/SUMMER 2014

VIEWPOINTS FROM THE DEAN

MARK MUSHET

Points of view

Robert Helsley

In this edition of Viewpoints, we focus on the role and importance of diversity in business and business education.

HERE DIVERSITY REFERS TO THE RANGE of individual characteristics among the participants in an enterprise—the gender, ethnicity or cultural identity of executives, customers, workers or other stakeholders. This is a natural topic for us at Sauder, situated as we are at the gateway to the Pacific Rim. Looking around at our current staff, faculty and students, I can see not only representatives of the large and influential BRIC countries (Brazil, Russia, India and China) but also those whose personal journeys began in Australia, Argentina, Armenia, Egypt, Iran, Morocco, Saudi Arabia, Turkey and many other countries. Our school’s long heritage of diversity is particularly evident to us now as we finalize a new interactive video display of the history of the Faculty of Commerce/ Sauder School of Business that will be unveiled in the next few weeks. Next time 2

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you are on campus, we hope you’ll stop by and find yourself in our story. One key theme that emerges from this history is the developing role in our school community of women students, and then of women faculty members, and then (and now) of women as leaders of all kinds. Although our school has long had a culture of diversity, attention now is turning to the idea that diversity can be an important determinant of business success. For example, a firm with customers or suppliers in other countries obviously needs to understand the cultural norms and communication styles in those countries in order to be effective. More generally, there is a growing awareness that it is important for organizations to understand the nature and consequences of diversity and to take measures to embrace and leverage diversity for the benefit of customers, workers, investors and other stakeholders. There is evidence that gender-balanced organizations are more profitable and that diverse workplaces rank higher in employee satisfaction and even brand awareness scoring. Research by faculty members Kai Li and Maurice Levi (highlighted on page 27) indicates that corporate boards containing women may outperform those that are purely a men’s club. For me, however, the best reason to work to enhance diversity is simple: I know that I benefit by expanding my horizons through conversations and interactions with people who think differently than I do. Featured in this issue (starting on page 14) are a series of articles exploring the impacts of diversity from four perspectives: individual, community, business and education. Through stories and research findings we illustrate how diversity can positively influence each of these domains. The appointment of Professor Jennifer Berdahl as the Montalbano Professor in Leadership Studies (see profile on page 28) contributed to the creation of a new

Women’s Leadership Advisory Council at Sauder. The Council will support the School’s efforts to enhance our research in the area of diversity and leadership, and play an important role in community dialogue on these issues. Two members of the Council—HSBC COO Sandra Stuart and CAI Managing Partner Tracey McVicar candidly respond to some relevant questions on their own experiences starting on page 31. We are proud of the school’s Ch’nook initiative, which looks to inspire Aboriginal students still in high school (the Cousins program), provide post-secondary business skills development (the Scholars program), and offers a Canada-wide Aboriginal Management Program which will see Samantha Elijah, a member of the Anishinaabe First Nation, graduate with a BCom next year (story page 35). As always, this issue is ﬁlled with notable alumni voices and accomplishments, from our own Lindsay Gordon (MBA 1976) being named chancellor of UBC, to a trio of graduates involved in the National Investment Banking Competion as founder (Phillip Chua, BCom 2009) and speakers (Egizio Bianchini, MBA 1985 and Jim Gilliland, BCom 1993). Most of all, as I glance through these pages, however, I see both what has represented the Sauder School of Business for many decades: diversity of thought, background and experience, and the chance for a conversation that can have a transformational impact on our understanding of business and society. ■

Sincerely,

Robert Helsley, Dean GROSVENOR PROFESSOR OF CITIES, BUSINESS ECONOMICS AND PUBLIC POLICY

OUR MISSION FOR VIEWPOINTS

Viewpoints Magazine is designed to nurture dialogue and relationships with our alumni and friends by ensuring that you continue to enjoy the practical beneﬁts of the school’s leading-edge business thinking. Viewpoints presents news, research and commentary that demonstrate the ability of our faculty and our graduates to deﬁne the future of business and to open doors for those who are connected to the Sauder School of Business. Your thoughts about this mission are always welcome. EDITORIAL Dale Griffin EXECUTIVE EDITOR Erica Smishek ACTING EDITOR-IN-CHIEF Jennifer Wah MANAGING EDITOR

DESIGN Brandon Brind CREATIVE DIRECTOR Deana De Ciccio GRAPHIC DESIGNER Karen Cowl GRAPHIC DESIGNER

PRODUCTION Spencer MacGillivray PRODUCTION MANAGER

Viewpoints Magazine is produced by Forwords Communication Inc. and published by the Sauder School of Business, University of British Columbia 2053 Main Mall, Vancouver, BC V6T 1Z2 Tel: 604-822-8555, Fax: 604-822-0592. Viewpoints is published regularly for alumni and friends of the Sauder School of Business. We welcome the submission of ideas and articles for possible publication in Viewpoints Magazine. Email: viewpoints@sauder.ubc.ca For an online version of Viewpoints, visit www.sauder.ubc.ca. CHANGE OF ADDRESS Send change of address to Alumni Relations Office, fax: 604-822-0592 or email to alumni@sauder.ubc.ca ©Copyright 2014, Sauder School of Business. Editorial material contained in Viewpoints Magazine may be freely reproduced provided credit is given. ISSN 089-2388. Canada Post. Printed in Canada. EDITORIAL BOARD Dale Griffin (Chair), with Katie Armitage, Sheila Biggers, Andrew Riley, Erica Smishek, Jennifer Wah and Bruce Wiesner CONTRIBUTORS Brenda Bouw, Sue Bugos, Barbara Gibson, Allan Jenkins, Claudia Kwan, Spencer MacGillivray, Andrew Riley, Thiago Silva, Erica Smishek, Jennifer Wah, Bethan Williams, Kate Zimmerman PUBLICATIONS MAIL AGREEMENT NO. 40063721 RETURN UNDELIVERABLE CANADIAN ADDRESSES TO ALUMNI RELATIONS, SAUDER SCHOOL OF BUSINESS, UNIVERSITY OF BRITISH COLUMBIA, 800 ROBSON STREET, VANCOUVER, BC V6Z 3B7

The Sauder Index BY

JENNIFER WAH

Percentage of jobs held by women in Canada in 2011: 47.3 Percentage of management positions held by women in 2012: 35.4 Percentage of senior management positions held by women in 2012: 22.9 Percentage of female faculty at Sauder: 22.0 Percentage of female faculty at the top-ranked business school in the world (Harvard): 23.0 Percentage of desktop computers using Windows as an operating system: 87.8 Percentage of those using Apple OS: 7.6 Estimated percentage of Windows installations that are illegal: 25–35 Top soft drinks in North America, by market share percentage: Coke (17), Diet Coke (9.4), Pepsi (8.9) Top coffee retailer in Canada, by market share percentage: Tim Hortons (62), Starbucks (7) North American city claiming the most diverse ethnic restaurants: New York Best destination in Canada for Cantonese food: Richmond, BC For Indo-Pakistani: Mississauga, Ontario For Middle Eastern and Lebanese food: Laval, Quebec Fastest-growing segment of Canadian population likely to adopt a child: same-sex couples First Pride parade in Canada: Montreal, 1979 Number of rainbow crosswalks in Vancouver’s West End: 4 Economic impact of the establishment of marriage equality in New York City in 2012: $259 million Percentage of people living in Canada who were born abroad: 20.6 Percentage born in the US: 12.9 Percentage born in Japan: 1 Top 10 source countries, in order, for immigrants to Canada (2012): China, Philippines, India, Pakistan, US, France, Iran, UK, Haiti, South Korea Top 10 source countries (2002): China, India, Pakistan, Philippines, Iran, South Korea, Romania, US, Sri Lanka, UK

Sources: ft.com, Montrealabout.com, straight.com, wikipedia.org, ibtimes.com, theloop.ca, statcan.gc.ca, catalyst.org, slate.com, huffingtonpost.com

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NEWSWORTHY SAUDER IN THE NEWS

ROGER MAHLER

Study on women and corporate boards the focus of several international features The more women on a corporate board the less a company pays for its acquisitions, says a new study by Sauder researchers, proﬁled by leading publications including The Wall Street Journal, The Washington Post, Al Jazeera and The Telegraph. The forthcoming Journal of Corporate Finance study shows the cost of a successful acquisition is reduced by 15.4 per cent with each female director added on a board. “Female board members play a signiﬁcant role in mitigating the empire building tendency of CEOs through the acquisition of other companies,” says Professor Kai Li, who co-authored the study with Professor Maurice Levi and others. ■

New research shows territorial behaviour at work can be a mistake A new study led by Professor Sandra Robinson on how being territorial at work can backfire was profiled by The Times of India, The Province, and Xinhua (China’s largest news agency). The research reveals that it may be better to give up ownership over projects and ideas than risk your reputation. “Previous research holds that it’s good for employees to take ownership at work as a way to enhance leadership, pride and commitment,” says Robinson, who co-authored the study for the journal Personnel Psychology. “However, our study shows that ownership can lead to territorial behaviour that has a significant downside in some workplaces.” ■

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Professor David Gillen talks about Boeing’s potential move Boeing has long been located in the Puget Sound region in Washington state, but in late 2013 a bidding war broke out over where the aircraft company will assemble its newest airplane, the 777X. For its December 2013 story, The New York Times sought Professor David Gillen for his expertise on aviation economics. “Puget Sound is probably going to face a reality not unlike what Michigan faces: ‘You guys have to come in at a reasonable price, because we can move our stuff to other places,’” says Gillen, the Director of Sauder’s Centre for Transportation Studies. In early January, machinists voted to narrowly approve Boeing’s contract offer to secure the construction of the 777X in Washington state, choosing job security over ﬁxed pensions. Although some pension-related questions remain, demolition has already started for the construction of the new 777X wing plant in Everett, Washington. ■

Professor talks grain transport with The Wall Street Journal When Canada’s Minister of Agriculture Gerry Ritz threatened railroads with regulations to clear the grain-shipping backlog, The Wall Street Journal interviewed Professor James Vercammen, whose research focuses on economic issues in the agriculture industry. “Ottawa could impose ﬁnancial penalties against railroads if they don’t meet quotas for hauling grain,” says Vercammen. “But railroads will probably pass on such costs to grain companies.” ■

Want brand loyalty? Scare your customers Sauder research, which shows that consumers will cling to a product like Coke for comfort if watching a scary movie on their own, made headlines in Bloomberg Businessweek, Inc. , National Post and The Toronto Star. In her forthcoming Journal of Consumer Research paper, co-authored by Assistant Professor Joey Hoegg, Sauder PhD candidate Lea Dunn demonstrates that consumers who experience fear while watching a ﬁlm feel a greater affiliation with a present brand than those who watch ﬁlms which evoke happiness, sadness or excitement. “Our study shows advertisers should consider offering up their brands as something to cling to in the dark when the knives come out and the blood starts to splatter,” says Dunn. ■

UBC MBA ranked in the top 100 for 14th year The UBC MBA continues to be ranked among the top 100 MBA programs in the world in the 2014 Financial Times Global MBA Ranking published in late January. Ranked 72nd, the UBC MBA, offered by the Sauder School of Business’s Robert H. Lee Graduate School, placed third among just ﬁve Canadian schools to make the top 100 and is the only school west of Ontario to place. Sauder remains competitive with its Canadian peers in categories of the FT’s ranking focused on alumni career success. Salaries of UBC MBA graduates track very closely with those of alumni from other Canadian programs, including those in Toronto, Canada’s ﬁnancial centre. ■

Bloomberg features professor’s study on vanity sizing Assistant Marketing Professor Joey Hoegg is interviewed about a recent study, which she co-authored for the Journal of Consumer Psychology, on the topic of vanity sizing—a marketing technique that manipulates sizes to appear smaller to flatter customers. But what happens when shoppers try on their usual size and find it’s too small? “Their confidence takes a measurable hit and predictably, they don’t want to buy the offending clothes,” explains Hoegg. Instead, the consumers opt for items without sizes, such as jewellery and watches, which make them feel attractive. ■

VIEWPOINTS SPRING/SUMMER 2014

ACTUALS SEEN AND HEARD IN THE SAUDER WORLD

Sauder Business Clubs inspire ideas and connections around the world

SAUDER BUSINESS CLUBS SERVE the business, social and professional development interests of Sauder’s alumni community in key Canadian and global markets. During fall 2013 and winter 2014, the clubs hosted an intriguing variety of events enabling Sauder alumni, faculty members and business professionals to connect and exchange ideas with one another. On October 17, alumni UBC partnered with the Sauder Business Club of Toronto to present “In Conversation with Nadir Mohamed” at The 1871 Berkeley Church on Toronto’s Queen Street East. More than 80 alumni and friends of UBC came together for the event featuring Nadir Mohamed, BCom 1978, then President and Chief Executive Officer of Rogers Communications (he retired in December 2013). In a conversation hosted by Sauder Dean Robert Helsley, Grosvenor Professor of Cities, Business Economics and Public Policy, Mohamed discussed leadership in the digital economy. Speciﬁcally he shared his thoughts on what it

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The Sauder Business Club of Toronto also hosted an Executive Breakfast Series featuring Jennifer Hawkins, VP and GM, Merchant Services, Amex on January 23, 2014. Hawkins, MBA 1994, shared valuable industry insights and strategies on how organizations can embrace diversity in leadership, with a focus on women in business today.

On November 25, 2013, the Sauder Business Club of Vancouver was pleased to host a CEO Luncheon with Robin Silvester,

President and CEO of Port Metro Vancouver, Canada’s largest and busiest port. Alumni in attendance had the opportunity to learn more about Silvester’s international career in both the ports and property sectors.

MARK MUSHET

Nadir Mohamed

takes to lead one of Canada’s largest and most high-proﬁle companies through a period of unprecedented technological and economic change. Mohamed also spoke about his rise through the management ranks and the lessons he has learned along the way, and provided insight into the future prospects for Canada’s digital economy. Mohamed led Rogers Communications through the most extraordinary time of change in the company’s 50-year history. Under his leadership, Rogers became the largest wireless carrier in Canada and consistently delivered best-in-class wireless and cable margins.

The Sauder Business Clubs of Shanghai and Hong Kong hosted “Building Creativity in Business,” a presentation by Professor Darren Dahl in their respective cities September 17 and 18, 2013. Dahl, ﬁnalist in The Economist Intelligence Unit’s Business Professor of the Year competition, 3M Teaching Fellow and Senior Associate Dean, Faculty and Research, provided his ideas on the importance of creativity, how creativity leads to success in business, and how employers can foster creativity in their organizations. He had previously delivered sessions for alumni in London and Calgary.

On February 17, 2014 the Sauder Business Club of London hosted “Successful Cities,” a presentation by Sauder Dean Robert Helsley, Grosvenor Professor of Cities, Business Economics and Public Policy. Helsley shared his thoughts on what makes cities economically sustainable and successful, the fundamental economic foundations for urban growth and productivity, and the economic factors that stimulate growth and migration. ■

Sauder alumnus inducted into the Canadian Retail Hall of Fame JOHN WILLIAMS, BCOM 1958, WAS INDUCTED INTO THE Canadian Retail Hall of Fame at the Excellence in Retailing Awards dinner held June 4, 2013 in Toronto. Williams has spent a lifetime in stores, catalogue and online retail. Starting as a bag-boy at Safeway in Vancouver and ending up at the T. Eaton Co., he had already forged a successful career in retail before he founded the J.C. Williams Group in 1974. Williams’ business partner John Torella was also honoured. “Their incredible dedication and commitment to the retail sector and to the promotion of retail as a career in this country are without bounds,” noted Diane J. Brisebois, President and CEO of Retail Council of Canada. “Without any strings attached, these exceptionally dedicated partners have always been keen to offer assistance, to volunteer their time and to share their knowledge and expertise in support of the advancement of retail and retail as a career.”

Williams and Torella are successful authors, speakers, thought leaders and consultants. They serve clients in over 21 countries and now have offices in the United States, Russia, the Middle East, Iran and South Asia. The Canadian Retail Hall of Fame Award, sponsored by MasterCard International, is John Williams, founder and senior partner presented to executives who at J.C. Williams Group have demonstrated leadership in advancing and promoting the industry and retail as a career, and who are strong advocates of retail education and training. ■

Recent Sauder graduate honoured with Future Alumni Award RECENT SAUDER GRADUATE SALINA DHARAMSI, BCOM 2013, has already established an impressive record of academic achievement, leadership and community service. As well as being a familiar face on the Vancouver volunteering scene, she has travelled to Guatemala, India and Rwanda, where she worked and learned side-by-side with local people on community development projects. Dharamsi was recognized for her efforts with the Future Alumni Award at the alumni UBC 2013 Achievement Awards on November 14, 2013. Since then, she graduated from Sauder and is currently enrolled in the Master of Professional Accounting program at the Edwards School of Business in Saskatchewan. In recognition of her community involvement and significant contributions, she has received a BC Community Achievement Medallion and a Queen’s Diamond Jubilee Medal. Dharamsi was admitted into the highly competitive accounting co-op education program at the Sauder School in 2010, and was soon identified as a top recruit by KPMG. She completed three work terms as a chartered accountant articling student and in 2011 was one of only two Canadian interns selected to complete a one-month rotation in corporate finance in Johannesburg, South Africa, as part of KPMG’s Global Internship Program. She was a keen participant in the company’s volunteering opportunities, especially those with an international focus, and represented KPMG at Sauder’s ARC Initiative in Phalaborwa, South Africa, teaching local entrepreneurs marketing, finance and accounting

skills. In Guatemala, she helped develop children’s literacy and health awareness. More recently, she travelled to Udaipur, India, to participate in projects with Free the Children. Passionate about international development and diplomacy, she was selected from among hundreds of candidates as one of six youth ambassadors for World Vision Canada and participated in a leadership forum with Rwandan, Tanzanian and Congolese youth. She was a panelist and youth facilitator for two United Nations debates in New York and Geneva, and was the sole Canadian student delegate at the Peace Conference of Youth held in Japan last year. Dharamsi has also been extremely active in her local community. She has facilitated a conference on healthy living for inner-city students, tutored children with learning disabilities and raised money for literacy. She has also been a regular volunteer for AIDS Vancouver, Canuck Place Children’s Hospice, BC Ismaili Volunteer Corps, the Canadian Cancer Society and UBC Meal Exchange, which collects canned goods for local food banks, and was a mentor in UBC’s Emerging Leaders program. In 2011, Dharamsi was featured as a “local hero” on the cover of The Province newspaper. ■

VIEWPOINTS SPRING/SUMMER 2014

ACTUALS SEEN AND HEARD IN THE SAUDER WORLD

Sauder grad puts family doctor house calls online SAUDER BCOM GRAD RYAN WILSON HAS LAUNCHED A start-up that transforms the traditional GP house call into a video interaction. Wilson hopes his company, Medeo, will relieve two serious problems in Canadian medicine: limited access to primary health care and increasingly crowded emergency rooms. Wilson’s service, which is like Skype video conferencing for physicians, allows local doctors and patients to digitally interact via their computer, iPhone, iPad or Android device. Currently, there are more than 400 physicians and 12,000 patients participating in Medeo. However, anyone who is enrolled in BC’s Medical Services Plan is eligible. The cost to the health care system is the same charged by regular consultations. But Medeo’s added value is brought to the province’s health care, says Wilson, through improved access. British Columbians travel all over the province to see a doctor or a specialist, he says. With physicians online, patients, especially from rural communities, have better access and reduce their health-care related travel costs. Online interaction between doctor and patient also means fewer people in the emergency room. An emergency visit usually starts at $800 to $900. A video call is only $40. In addition, being able to monitor a patient online lets doctors send patients home to recover, instead of keeping them at the hospital. This saves money and may improve patient recovery. “Every time we send a person home a day earlier, it saves $3,000 to $4,000 a day,” says Wilson, and adds that research supports the notion of patients recuperating better when they’re at home compared to in a hospital bed. ■

Sauder grads revolutionize retail NEW YORK FASHION WEEK IS ALWAYS THE LAUNCH PAD FOR new fashion trends, but last spring it was also the launch pad for “42,” a tech company founded by Sauder graduates. Sauder alumna Cathy Han, BCom 2011, was the runner-up in the Decoded Fashion Hackathon, a contest launched to inspire the creative cross section of fashion and the online environment. The inaugural event saw programmers, developers and graphic designers being given the task—and 24 hours—to develop a fashion app to support the global growth of American fashion.

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Han launched her start-up in February with fellow Sauder BCom alumnus Lucas Lemanowicz, Sarah Hum of Google and Nick Porter, formerly of Benbria, a mobile customer engagement company. The company’s enterprise software lets retailers interact with consumers after they have left the store. 42 takes data collected at checkout through transactions and transforms it into easy-toread graphics, allowing retailers to instantly see what products are catching shoppers’ eyes, how their sales are doing and how they can be improved. From the data, retailers can also develop customer profiles and identify which products are the best fit for specific consumers. This allows them to email shoppers with tailored “You May Also Like…” recommendations for products that they might have missed on their last trip into the store. Thanks to the exposure from Fashion Week, 42 is now working with several well-known American fashion brands, who will debut the use of the software in their stores in 2014. ■

International Women’s Day panel looked at diversity in finance SAUDER FINANCE PROFESSOR KAI LI MARKED INTERNATIONAL Women’s Day on March 8 by participating on a panel of women leaders in finance. The group discussed a new report on women in British Columbia’s financial services sector and talked about their personal experiences in the field. The BMO Women’s Day study shows that 55 per cent of Canadians still perceive there is a glass ceiling for women pursuing a career in finance. “As a financial career progresses, we see this drop in female participation, with fewer women at the top,” says Li, whose recent research provides insight into the positive impact of women directors on the decision making of corporate boards. The panel included Professor Li, Jennifer Muench, Regional Vice President of BMO Harris Private Banking, BC, and Diane Dupuis, President of Dupuis Langen Financial Management. The panelists observed that obstacles women in finance face are not necessarily from a lack of education opportunities or interest in the field. Li said the number of female students majoring in finance in Sauder’s BCom has hovered at 40 per cent over the last five years. This percentage has not yet begun to be reflected in high ranking finance jobs. Li explained that many organizations still suffer from so-called “flexibility stigma,” where men and women who seek to take time off, work from home, and make other lifestyle choices are perceived as incompatible with the demands of the field. ■

Sauder grad uses Kickstarter to fund product launch CROWDFUNDING—ASKING STRANGERS TO PITCH IN TO fund a project—is increasingly common for authors, bands and artists. But it is still a non-traditional approach for established companies launching new products. Yet that is exactly what Sauder BCom grad Janice Cheam, CEO of Energy Aware Technology, did to fund her new product, Neurio. Neurio is home intelligence technology that monitors the power a home uses, and calculates the cost of running individual appliances in real time. The device’s open-source system operates using a Wi-Fi sensor installed in the consumer’s breaker panel, and a cloud service that uses algorithms to detect and track power usage. It can also integrate with other applications to do things like send reminders when the washer is done or adjust the thermostat when the homeowner is away. Needing a strategy to show there was a market for a consumer product that had never existed before, Cheam hit on crowdfunding as a way to decide if the product would appeal to consumers. “Since we had never sold to end consumers before, we needed to provide market validation for Neurio to our longtime supporters

and potential funders to encourage them to back it,” Cheam says. Kickstarter seemed the best way to get the product out in the market ahead of time, prove interest, and raise money to fund the initial manufacturing costs. Cheam set a goal of $95,000 in a 30-day period from October 16 to November 15, 2013. Realizing that more than half of Kickstarter campaigns don’t get funded, Cheam and her team knew they had to take extra steps to ensure their success. The Energy Aware team brought on an additional resource to build PR, marketing and community outreach before their Kickstarter launch. They received extra mentorship from Cheam’s former lecturer, Sauder Marketing instructor Paul Cubbon. Energy Aware reached its 30-day fundraising goal in just two weeks. By November 15, they were 281 per cent funded, having raised $267,373 in pledges from 1,967 backers from over 35 different countries. Cheam says, “Our success with Kickstarter meant that there was proof in the pudding for future investors and partners, that our product works and there’s a substantial market for it.” Cheam hopes Neurio units will be ready to ship to consumers later this summer at a retail cost of $249. ■

Sauder celebrates new grads at Fall Congregation

The Sauder School of Business and its Alumni Engagement Office were pleased to welcome more than 280 graduates of the Class of 2013 into the vibrant alumni community at Fall Congregation. Following official graduation ceremonies at the Chan Centre on November 28, new alumni, their families and friends joined Sauder faculty and staff at a reception in the Big 4 Conference Centre on the 9th ﬂoor of the Henry Angus Building. The reception was an opportunity to congratulate graduates and recognize their hard work and achievements as they moved on to the next phase in their journeys. It also gave staff and faculty a chance to say farewell to the students they have taught, advised and worked with during their time at the school. ■

Congratulations again to the new Sauder alumni!

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ACTUALS SEEN AND HEARD IN THE SAUDER WORLD

FCA fellowships THE SAUDER SCHOOL IS PROUD TO COUNT AN ALUMNUS AS WELL AS A FACULTY MEMBER AMONG THOSE RECENTLY honoured with a fellowship by the Institute of Chartered Accountants of British Columbia (ICABC). The fellowship (FCA) designation is awarded to chartered accountants for contributions to the community and service to the profession.

Ali Pejman, BCom 1994, is the Managing Director, Investment Banking & Head of PVC, and a member of the Canadian executive committee at Canaccord Genuity Corp., a global investment dealer. Over the past 14 years, he has played a key role in the ﬁrm’s top-rated mining practice, where he has led and played a key role in equity transactions raising an excess of $6 billion. He has also handled M&A transactions totaling over $3.5 billion. Pejman sits on the board of Science World and the TSX Venture Exchange Advisory Committee, and has served as a governmentappointed advisor to the BC Securities Policy Advisory Committee. In addition, he has volunteered and fundraised for the UBC Alumni Advisory Council, the Sauder School of Business, BC Children’s Hospital, Science World, Big Brothers, and Family Services. Pejman made The Globe and Mail’s Canadian “Top 40 Under 40” list, and has been the recipient of several awards for his professional and community commitment.

Kin Lo holds the Chartered Accountants Professorship at the Sauder School of Business, and helps shape accounting curriculum and research. He is an active mentor, assisting dissertation committees, and has acted as a research supervisor for doctoral candidates. Lo has taught at UBC since 1999, and is currently an associate professor. He has coached numerous teams for case competitions, including ﬁve that have won global championships. A recipient of numerous competitive research grants, Lo has authored two editions of a two-volume accounting textbook and numerous working papers—presenting his research in workshops and conferences across the globe. He is also involved with numerous academic journals as an associate editor, editorial board member, and/or reviewer, with media citations as a researcher and academic that span industry magazines to mainstream media. ■

Real Estate Division receives prestigious education award THE REAL ESTATE DIVISION’S NEW BROKER’S Business Planning and Financial Management course, received an ARELLO Education Award at the association’s annual conference in Seattle in September. The Association of Real Estate Licensing Law Officials (ARELLO) consists of government agencies and other organizations around the world that issue real estate licenses or registrations. “This is the fifth ARELLO award received for courses and programs offered by Sauder’s Real Estate Division, reflecting the benefits of the unique collaborative relationship between the Sauder School of Business and the Real Estate Council of British Columbia,” says Dave Moore, director of the Real Estate Division’s Licensing Education programs. ■

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Dean’s Speaker Series launches with talks by prominent UBC alumni THE DEAN’S SPEAKER SERIES, A NEW INITIATIVE LAUNCHED by Sauder’s Alumni Engagement office in the fall of 2013, gives Sauder students the opportunity to listen to and learn from some of the most prominent UBC alumni and business leaders of our time. It’s a chance for the next generation of leaders to hear some inspiring stories and gain diverse perspectives on business and on life. About 250 students gathered in the Middlefield Lecture Theatre in the Henry Angus Building on March 11, 2014 for a presentation by Dominic Barton (right), BA 1984, Honorary Doctor of Laws 2012, Global Managing Director of McKinsey and Company, one of the world’s pre-eminent management consulting firms. McKinsey operates in 61 countries, and, during its 85-year history, has earned the trust of business and government leaders throughout the world. In his presentation “Leadership Requirements in a FastChanging World,” Barton identified five mega-trends reshaping the global economy—the rise of emerging markets, resource scarcity, aging populations, the digital age, and the market state—and walked students through an array of data to paint a vivid picture of opportunity and upheaval. Against this backdrop, he outlined several critical questions leaders in the next several decades will face. Barton then shared his thoughts on leadership, highlighting specific actions, qualities and approaches he believes are necessary for the success of individuals, organizations and societies in a new era. With the participation of students, Barton, and Don Lindsay, President and CEO, Teck Resources Ltd., who introduced the guest speaker at the event, the occasion concluded with a lively question and answer session. The Dean’s Speaker Series kicked off on November 2, 2013 with a presentation by Robert Macdonald, BCom 1980 (major in Urban

Land Economics), the founder, owner and president of Macdonald Development Corporation (MDC), a private family-owned real estate development company based in Vancouver. Sharing some of his own life’s lessons with students, Macdonald emphasized the importance of lifelong learning and working with focus, persistence and thoughtful effort. He also advised students to “always plan for failure, as well as success, on the well-grounded assumption that failure—or at least unintended consequences—is a possible outcome in a messy balky world.” A cancer survivor, Macdonald spoke of the need to take care of one’s physical and mental health, and to be a person of courage. He said it was important for future business leaders to pay clear attention to matters of government, and to act with honesty and integrity. The Dean’s Speaker Series will be held three times annually. The next event will take place in September 2014. ■

Does “liking” a charity on Facebook make you an activist or a “slacktivist”? WE SEE A CHARITY ON FACEBOOK AND WE HIT the thumbs-up “Like” button. But does that mean we are more likely to get out our chequebooks? Probably not, according to new research from Sauder. “Charities incorrectly assume that connecting with people through social media always leads to more meaningful support,” says Sauder PhD student Kirk Kristofferson, who co-authored a forthcoming Journal of Consumer Research article about the study. “Our research shows that if people are able to declare support for a charity publicly in social media it can actually make them less likely to donate to the cause later on.”

The study found someone making a public show of endorsement, such as a Facebook “Like!” is less likely to provide a meaningful contribution later than someone who gives a private endorsement, such as signing a petition. The study suggests that giving public endorsement satisfies the “slacktivist” desire to look good to others, reducing the urgency to give later. The findings should give charities pause for thought, according to Kristofferson. “If charities run public token campaigns under the belief that they lead to meaningful support, they may be sacrificing their precious resources in vain,” says Kristofferson. “If the goal is to generate real support, public-facing social media campaigns may be a mistake.” ■

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OUR COMMUNITY: DEAN ROBERT HELSLEY

LEADING WITH

MARK MUSHET

values As I reach the end of my second academic year as Dean of the Sauder School, I see the familiar signs of the commencement season: students wearing shorts, trees blossoming to celebrate our graduates, and an even greater increase in the pace of construction on campus. Looking back over these two eventful years, I find myself reflecting on the most important things I have learned about this role. Perhaps the single most important insight from my experiences is the central and indispensable role of values in a dean’s life. The subject of values comes up almost every single day in conversations with donors, employers, students, university leaders, and parents. People want to talk about their own values and how they developed through early family influences, inspiring teachers and professors, motivating work experiences, and important relationships. Many in our community want to talk about the role that UBC and Sauder has played in fostering their sense of values and are passionate about values the school upholds and promotes. Values inspire us, and they also anchor our decisions and actions to the principles that define us. Or at least they should. When the story broke last fall about the disturbing chants that had taken place during the student-led Commerce FROSH orientation, my inbox was flooded with anguished emails from alumni, parents, and other community members. There were many emotions expressed, including anger, frustration, sadness, and even shame, but most raised searching questions about the values embodied by the chants and related behaviour, and the role of the school in guiding and shaping those values. Indeed, I shared those questions, and the raw emotions they inspired. My guiding thought was that these actions—taking part in chants that mocked and celebrated non-consensual sex and 12

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others that showed a lack of respect for First Nations culture and history—were completely inconsistent with the shared values of the school and its extended community. We are a place of diversity, with a strong tradition of civility, mutual respect, and community outreach. The school has served—and should serve—as a place of safety for students to explore their own values and place in the world. Every single member of our community should feel equal, safe and empowered to pursue success and fully enjoy the benefits offered by university life and the privileges offered by a top-quality business education. I, along with many members of our extended community, felt like the integrity of the entire school was called into question by the violation of these promises of psychological safety that occurred at this student-led event. This was a transformational moment for me as a leader of this school. How could we respond to these actions in a way that was most consistent with our shared values? Beginning immediately with the first classes after FROSH weekend, I devoted much of my time to addressing every one of our first-year classes. I wanted to confront firsthand what took place, start the process of reflecting on appropriate conduct, and assure all entering students that the conduct at FROSH did not reflect the values

and principles of the community they had joined. I am absolutely convinced that our students are bright and engaged young people who will go on to make remarkable and often transformational contributions in their communities around the world. Nonetheless, the chants did represent a troubling and even shocking development at the school and the university. Informal reports indicated that such chants had been used before at university events across Canada. Thus, we could not treat this disturbing event as a one-time problem, but needed to treat it as a catalyst for broader change. I worked closely with our colleagues at UBC, including Vice President, Students Louise Cowin and President Stephen Toope, to investigate what took place and to chart a new course to allow the individuals involved and all of the university community to learn from this incident. Preliminary recommendations from this task force were submitted to the UBC community in March and I expect a final report will bring important and positive changes across the whole campus. At Sauder, we responded with a restorative justice approach based firmly on the values of the school. We created a program that encouraged the student leaders involved to gain insight from reflecting on their actions while giving back to the community. We have also set in motion a plan to engage our school community as a whole with the goal of ensuring an ongoing environment at Sauder that promotes inclusiveness, awareness and respect for others. The CUS leadership and all 97 FROSH leaders completed a program of training

through UBC’s Sexual Assault Support Centre. They also completed Community Service Projects aimed at bolstering sexual assault awareness and promoting diversity on campus. Individuals involved in disrespectful chanting about Canada’s Aboriginal people met with the Chair of the UBC First Nations Studies Program and attended a workshop to further their understanding of the effects of racism on Indigenous communities. This education and service program has been met with enthusiasm and has had an important and constructive effect that is already showing beneﬁts in the culture within and beyond our student leadership. Some students are working on deﬁning ways to make the values of the Sauder School more present for future classes. As such, we have rallied them around the core values of Rigour (honesty, integrity, open-mindedness), Respect

(sensitivity, empathy, and awareness of others), and Responsibility (active engagement in the community). We are engaging on a deeper level with all of our undergraduate students with the aim to ensure that everyone is committed to our community values. To this end, we have created a new Associate Director role in our undergraduate office dedicated to taking the pulse of our student body and implementing strategies and programs to enhance the environment in which they learn, study and socialize. Beginning in September, we will introduce a completely revamped orientation for new students led by the school and supported by the CUS. This orientation will reinforce the values of Sauder and its diverse community, while promising fun and meaningful activities that build the bonds between students, which are so important in helping them thrive.

We are also evolving our undergraduate curriculum to better engage students in the areas of diversity, ethics and social responsibility. We are taking a creative look at our courses and working to weave these topics into existing business content or to add courses with a speciﬁc focus. The right mix between values-based decision making and business application is the key, so that students leave Sauder with a full understanding of the important role of diversity in business and civil society. As I look around me at the school today, I see a diverse community strongly committed to building and reinforcing a culture of respect and responsibility. I can’t pretend the last year has been easy or that the challenges are over, but I truly believe that our shared values have emerged from the challenges stronger than ever. ■

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When starts with me FEATURE EDITING BY

JENNIFER WAH

For at least three decades the corporate world has been discussing diversity. It’s one of those buzzwords that can’t be dismissed—”Of course we should have more diversity in the company! It’s the right thing to do! It’s fair to minorities! A company should reﬂect its diverse audiences!”... and so on. Yet boardrooms and management teams remain largely homogeneous. That’s because people naturally want to surround themselves with people who look and think like themselves. It’s not a sinister plot, it’s about comfort and familiarity. But Barbara Gibson, who interviewed scores of global CEOs for her doctoral thesis “Intercultural Competencies Needed by Global CEOs,” makes the case for moving the idea of diversity out of the realm of being something to do because it’s good for the company and good for society, and into the unexpected category of “What’s in it for me?”

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HERE’S HER MESSAGE TO CEOs, SENIOR executives and anyone else with ambition: “If you want to be more successful, you need to surround yourself with people who are not like you—in every possible way you can think of.” Says Gibson, who is based in London, England and lectures on this topic for a number of universities: “Your next job is likely to hinge on your ability to demonstrate intercultural management capability. Company boards are increasingly seeking CEO candidates with experience managing workforces in foreign countries in an attempt to acquire intercultural competency at the top.” She cites one study of global ﬁrms, which concluded that international experience has become a crucial prerequisite to ascension to the CEO position, trumping education and functional expertise as the most important differentiator in CEO selection decisions.

“In this 21st-century model for global business, comfortable does not get you success,” she reminds us. “This is the century of born-global companies, going from start-up, to doing business internationally, within the ﬁrst three years. Born-globals are far more likely than their 20th-century competitors to have a diverse senior team, often located around the world. Their corporate cultures are often deliberately multicultural, and their hiring deliberately focused on creating diverse teams.” Gibson’s research into the intercultural competencies needed by global CEOs also looked into how those leaders developed the key skills that gave them their competitive edge. It turns out that working in diverse teams is one of the best ways to develop the capabilities that prepare you for success in a global business environment. “The more we encounter and are forced to cope with different perspectives, different styles of

working and communicating, and different decision-making approaches, the more we develop crucial intercultural competencies, including cultural self-awareness, cultural sensory perception, open-mindedness, global perspective and adaptability. We learn from the daily interactions, not from the one-off training session,” she says. Her rallying cry? “It’s time to embrace diversity for purely selﬁsh reasons.” In the four theme articles on the next pages, we take a closer look at what diversity means in the 21st century: in school, for individuals, and in the community. X

Barbara Gibson, PhD, is a consultant, researcher and lecturer focused on intercultural communication and global business. She currently serves as president of the UK chapter of the Society for Intercultural Education, Training & Research (SIETAR) and lectures on intercultural communication and management for the University of London and Hult International Business School, among others.

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Diversity: What’s in it for me? The experience of women in the workplace offers an individual perspective BY

ALLAN JENKINS AND CLAUDIA KWAN

DIVERSITY MAY SEEM LIKE ONLY a big picture idea—something to be discussed in boardrooms, mulled over in the ivory towers of academia, or debated in parliament—but what it really comes down to is recognizing and appreciating individuals with a wide ranges of backgrounds, life experiences, and needs. That’s just one of the reasons there has been a noticeable increase in the number of women leaving the North American workforce, particularly when it comes to professional ﬁelds, says Robyn Remke, Associate Professor in the Department of Intercultural Communication and Management at Copenhagen Business School, a partner school of Sauder’s.

Women leaving workforce more than ever Faced with the frustration of ﬁnding affordable childcare, feeling overextended between domestic and work duties, and fed up with hitting glass ceilings at work, many are opting out of working for extended periods of time—to the detriment of organizations. Remke, whose research specialization includes organizational communication, diversity and leadership, says far more support is needed for families, not just when it comes to daycare. “What we need right now is systemic structural support that promotes the ability to live life as you want, whether it is time off for religious holidays, your family, daycare— whatever it is. We need to be more open to the fact that the worker is no longer a white man, with a stay-at-home wife, who goes to

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work at 9 and comes home at 6.” The time crunch associated with familial pressures manifests itself in unexpected ways. Remke is conducting a study of female Danish managers, where a common problem continues to surface—the issue of a child’s birthday cake. “These women feel an incredible pressure to provide homemade birthday cakes for their kids that they would then take to school, and they feel ridiculed if they sent their kids in with store-bought cakes—never mind that there is a bakery on every Danish corner, and they make fantastic cakes! These are women who are in the workforce [as managers]… we somehow have this expectation they are going to bake a cake in the two hours of free time they have every night!” Even supports that seem to be in place don’t always work. Remke points to the existing daycare system in Denmark, which is widely accessible and inexpensive, due to subsidies. However, the childcare locations close promptly at 5 p.m., meaning women with work hours that extend beyond that are out of luck. Men face their own pressures, which may also be affecting diversity in the workplace. In Canada and Scandinavia, for example, new fathers may take paternity leave. “In Denmark, the number of men taking paternity leave is decreasing, and the

$9.31 homemade from scratch

$15.99 store-bought

Research shows that women feel pressure to provide a homemade birthday cake for their kids to take to school.

amount of time they take is decreasing… there is a lot of debate about it,” says Remke. “The debate centres on the fact that men don’t feel they can take leave and still be valued in the workplace. They feel their loyalty, assertiveness and productivity will be hurt.” Remke says there are usually two paths to increasing diversity within organizations—the “homegrown” internal diversity that arises as people from different backgrounds are hired, and structural diversity, where programs are created to address societal marginalization of certain groups. But within these paths, Remke believes “pipeline” issues—where there may be good diversity upon initial hiring, but there is a failure to promote jobs evenly—develop over time.

“If you look at organizations, even in some of the STEM (science, technology, engineering and mathematics) industries and the financial industry, many of them are hiring women, but many of these organizations hire just as many men into these entry level positions,” says Remke. “But shortly we begin to see that women are not being promoted at the same pace as men, and they quickly reach a plateau. To use a metaphor to describe the phenomenon… there’s the glass ceiling, the sticky floor, the leaky pipeline, but essentially acknowledging that the organization begins with something that is rather diverse, but somehow isn’t able to maintain that.” She believes it can only be addressed by having leaders wholeheartedly committed to supporting diversity. “It has to be an integral part of every strategic maneuver of the organization. You can’t simply have a diversity officer or even a diversity department that once a month writes an article in the newsletter and that every once in a while encourages a certain type of cuisine in the canteen. For diversity initiatives to be truly successful, they have to be more than just supported, but really embodied and taken on as a personal initiative of the most senior people and then woven into the very strategy of that organization, so that it permeates every aspect of the organization.” Remke says those who question whether encouraging diversity means more cost to an organization fail to understand a basic fundamental principle—that investing in all employees is simply good management. For instance, policies seen as being “women-friendly,” such as family leave, flex time, telecommuting and job sharing, also end up improving job satisfaction, corporate loyalty and productivity in men. However, that is not to say that there are not specific programs needed to address issues around the existing marginalization of specific groups. She goes so far to suggest that other countries consider following Norway’s example,

where corporate boards must be made up of at least 40 per cent women. “I think we need some quotas. I say this, acknowledging that they are not perfect— there can be some negative consequences and outcomes. And I would even consider quotas for 20 years or something, a timeline attached to it.” Critics point out that some of the women appointed to the boards in Norway have been ill-suited for their duties, but the same can be said for men on the same boards.

The status quota Remke says her reluctant support for quotas comes from the realization that change is not occurring quickly enough. Quotas, she feels, would push the social agenda forward, force senior managers to change, and open up professional networks to women who are excellent at what they do, spelling an end to the old boys’ network. She hopes that quotas one day will no longer be needed, but until that time they will help marginalized groups enter the conversation about what a successful organization should look like. Remke is quick to acknowledge something that isn’t always brought up in the conversation around diversity: there can be more work associated with creating and maintaining a diverse workforce. “Highly diverse groups do require more communication and more interaction and more collaboration—it does take more effort. I think the end results still prove to be quite worth it.” She sees a range of positive results associated with diversity, including a boost in innovation, a greater ability to address the needs of an international audience, and better solutions to universal problems. Ultimately, she says support for diversity isn’t about singling out speciﬁc groups or individuals—it’s about creating policies that are good for everyone. ■

Statistics sources: 1. “Does homemade food cost less?,” MSN Money, accessed June 25, 2014, http://money.msn.com/saving-money-tips/post.aspx?post=208651a7-296b-48f9-80fd-6291870bdcd9. 2. “Gender diversity in Canadian boardrooms,” Leading Boards, accessed June 25, 2014, http://www.leadingboards.com/blog/gender-diversity-in-canadian-boardrooms/.

Women in Canadian boardrooms CANADA’S LARGEST COMPANIES are leaping ahead of their peers in the United States and Britain in adding more women to their boards of directors. From a June 2013 study, Leading Boards reported that women accounted for 20 per cent of directors on the boards of 100 of Canada’s largest companies, while comparable-sized US companies had 17 per cent women and British boards had reached 18 per cent, all after starting from a lower base in 2008.

20%

18%

17% VIEWPOINTS SPRING/SUMMER 2014

Not like me? Take a seat The “creolization” of the workplace is a business essential BY

ALLAN JENKINS AND CLAUDIA KWAN

“DIVERSITY” BECAME A BUZZWORD IN corporate circles in the late 20th century. In the US, regulation addressed discrimination in hiring and, across North America, companies realized that visible “diversity,” especially at the customer interface, was good PR. Diversity became the “right” thing to do. But in 2014, diversity has become more than window-dressing. Most management thinkers now agree that large corporations, especially international ones, must have diversity in upper management to compete effectively. Yet large corporations have mostly failed at introducing diversity in their upper management and boards. For example, three quarters of Canadian companies on the S&P/TSX Composite Index have one or no female board members.

Why is top-level diversity good business? When 321 large global enterprises were surveyed in a Forbes study in 2011, 85 per cent agreed or strongly agreed that diversity is crucial to innovation. “The number one reason organizations seek to build diversity in senior leadership is that it is the foundation for innovative thinking,” says Murali Chandrashekaran, Associate Dean, Professional Graduate Programs, and Professor, Marketing and Behavioural Science Division. “People from similar backgrounds quickly converge around ‘groupthink,’” says Chandrashekaran. “They work with people who look like them, think like them. Solutions from such groups tend 18

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to be incremental and not innovative or creative.” That view is echoed by Eric Guthey, Associate Professor, Department of Intercultural Communication and Management at the Copenhagen Business School, a partner school to Sauder. “As a member of two boards, I would say that a bunch of guys sitting around a table making decisions is a stupid way to run any organization, because you lose diversity of opinion,” says Guthey, whose primary research areas include organizational studies and leadership development. “You can’t have innovation without different types of thinking. Innovation in terms of proﬁt seeking and innovation in terms of products.”

Diversity is not just where you’re from Guthey believes the best way for companies to create an atmosphere conducive to innovation is to foster different communities of practice—to have people who come from different backgrounds, with different ideas, to work on problems together—which then creates a common culture through the work itself, rather than having people start from the same original viewpoint, bringing the same ideas to the table. Guthey cautions that promoting cultural diversity based on nationality alone is not necessarily something to strive for.

Race Disability Age

Ethnicity Sexual orientation

Nationality

Gender

Diversity and inclusion is not just about gender and race

“The problem with the argument for international diversity in companies is that it assumes people from one country are all the same, and people from another country are all the same… but that just is not the case.” Another problem, according to Guthey and Chandrashekaran, with hiring a “diverse” top management based only on nationality is that many top managers worldwide have been educated at very similar schools. “The interesting thing about leadership and diversity is that ‘leadership’ is really an American concept,” says Guthey, “and the leadership industry globalizes the export of certain approaches to leadership. Business schools are implicit in this.”

Agree to disagree “Organizations often times recruit people in the image that they believe in,” says Chandrashekaran. “So even though they recruit people from Japan, Korea, India, China, they are recruiting people who have been trained like them because that is comfortable for people. “The kind of diversity I am talking about, in organizations, is that the person who is going to help you the most is someone who actually disagrees with you,” says Chandrashekaran. “Because they are going to give you the foundation on which to reflect on your key assumptions. And unless organizations start recruiting people who do not look, and talk and feel the same way, the issue of diversity is at a very superficial level.” To Guthey’s mind, organizations must not only hire people with diverse backgrounds; they must encourage them to bring that diversity to bear. Business leaders must make it clear that diversity is welcome, and individuals must prioritize incorporating diverse ideas at every possible opportunity. “The idea is… to foster what I call creolization… you can see it in music,” says Guthey. “In New Zealand they have this fantastic music called ‘New Zealand Dub,’ which is a mixture of reggae and jazz and indigenous music from the Pacific Rim. It’s awesome. And it’s greater than the sum of its parts; it’s the mixing of cultures to create something new. So, I think if you truly want a diverse organization, it is not people from the same background acting the same, it’s people acting in a way that is creative and bigger than the sum of its parts.” Chandrashekaran believes inculcating a culture of diversity in senior leadership will pave the way for innovative thinking— allowing for leaps and bounds of creativity. Bringing in diverse people at junior levels builds a foundation for them to grow into future leaders, creating a self-sustaining, positive loop of innovation. He, like Guthey, cautions against having people who agree all too readily with each

other, pointing out that employees who play devil’s advocate have significant value—they will challenge others to examine their assumptions, and thus arrive at the best possible solutions for issues. While Chandrashekaran believes there have been major strides in diversity—including finding employees who meld rich cultural histories with Western education and training—he says there is still a lot of room for improvement. “There is still a huge under-representation of women and ethnic minorities in senior leadership roles, and this requires explanation,” he says bluntly. “Is it because of a lack of qualification in members of these groups? Or could it be some sort of a discriminatory bias? I don’t know the answers to these questions, but I do not feel that organizations are particularly leading in this.” It comes down, Chandrashekaran thinks, to giving diverse members of the workforce something to aspire to—if they see someone like them at a senior management level or on the board, it shows them a clear future career trajectory. Over time, he says organizations will need to seriously question how they can change their makeup, in a way that will aid employee engagement and decrease turnover. That in turn, he says, will boost customer satisfaction and retention— making it a win-win situation. Until that happens, he believes continuing to push forward with the discussion around diversity will foster it within organizations, and create a springboard to innovation. ■

The world of business

SAUDER’S GLOBAL IMMERSION “The Global Immersion Program allows students to be exposed to diverse ways of thinking and diverse ways of leading businesses,” says Murali Chandrashekaran, Associate Dean, Professional Graduate Programs, and Professor, Marketing and Behavioural Science Division. “They can see what leading performance looks like in other contexts, and how contextual factors have an impact on strategy and leadership, and ultimately creating shared value for communities.” The program pairs MBA students with students at foreign business schools over an eightweek period, culminating in a two-week stay at the sister school. This year’s class had India, China and Denmark as choices. The projects, essentially consulting engagements, had Sauder and local students address a problem or idea presented by a local company. Chandrashekaran says the program is a response to the reality of a global economy—that business decisions are being inﬂuenced by global factors, and that companies’ workforces are coming together from around the world. “A certain amount of intercultural ﬂuency is required— this program is aimed at building that intercultural diversity. How to work with people from different backgrounds, not just gender diversity, but steeped in different ways of doing business as well.” ■

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Diversity goes back to school Shaping a diversity strategy for Sauder BY

SUE BUGOS

HOW DOES DIVERSITY GUIDE WHAT we do? What responsibility do we have to encourage and promote it? How should we focus our efforts? If questions like these have been buzzing in your mind lately, don’t be surprised to hear that leaders at Sauder have been grappling with similar challenges and exploring how best to harness the opportunities they present. Diversity has long been part of the Sauder School of Business’s identity, woven into the fabric of the school through global outreach, programming, clubs and events, and represented by its international faculty and student body. However, over the past year it has taken on a new focus at the centre of a deliberate school-wide strategy. “Because of our location in a diverse city, our role in education and our history, diversity has been a fact at Sauder for much longer than it has been a strategy,” says Dale Griffin, Senior Associate Dean, Strategic Communications and Professor of Marketing and Behavioural Sciences at Sauder. “We have been bequeathed a legacy of diversity at Sauder and now we are moving toward a culture of diversity,” he explains. “The biggest difference between now and even 20 or 30 years ago is that diversity wasn’t considered a business issue then; it was one for Psychology and Sociology departments. Today, we recognize that diversity is everyone’s business.” This historical legacy was exempliﬁed by Ellis Morrow (the head of the Department of Commerce in the 1940s) who worked to ensure that several Japanese-Canadian students were able

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22%

to obtain degrees despite the internment order during World War II. Later that decade, the ﬁrst Chinese-Canadian in BC to complete a Chartered Accountant designation graduated from the Department of Commerce. In the 1950s, a British Commonwealth agreement enabled Commerce faculty to help establish business and accounting programs in Singapore and Malaysia—a partnership and exchange opportunity that still exists. In addition, when Dr. Frieda Granot was hired in 1975, she became the ﬁrst female faculty member on a tenure track. And today, Sauder boasts one of the most internationally diverse business school faculties in North America according to the Financial Times.

Bringing focus to diversity “When Robert Helsley became dean he was focused on understanding Sauder’s role in the broader community, how Sauder interacts with the world and affects it, and he simply asked ‘What are we doing?’ relative to a number of issues,” explains Griffin, who is coordinating the current diversity endeavours at Sauder. He says, “This led to the development of a diversity strategy as a framework for many initiatives already in progress, and to help launch new ones. The pillars of our strategy are the reality of international diversity in our programs, an aspiration to increase

78%

Percentage of female/male faculty at Sauder today

the understanding of women/gender roles in business and leadership, and a commitment to increase awareness and training in the area of Aboriginal business and economic development.” Helsley recently announced a set of major initiatives to support the advancement of gender diversity at Sauder and beyond. The Women’s Leadership Initiative includes the new Montalbano Professorship in Leadership Studies: Women and Diversity, curriculum development, the creation of an advisory board, new scholarship funding and a commitment to lead globally ranked Canadian business schools for female enrolment in the full-time MBA program, offered by Sauder’s Robert H. Lee Graduate School. This will enable Sauder to become an educational leader in supporting women in business.

The case for diversity A 2011 Forbes Insights study says that “a diverse and inclusive workforce is necessary to drive innovation, foster creativity and guide business strategies.” This conclusion is reinforced in a recent study by Sauder finance professor Kai Li which reveals that corporate boards make better decisions about mergers and acquisitions when more women are at the table. Sauder understands this concept also applies to education. Diversity in the classroom facilitates opportunities for deeper discussions, richer solutions to problems and greater academic and social development among students. This translates into business graduates who possess the requisite skills to be leaders in a diverse marketplace. When it comes to curriculum, the school is taking a pragmatic approach to formally incorporate themes of diversity into an already full program. The MBA program already focuses on working in diverse teams and within a cross-cultural context; however, there are opportunities to explicitly address diversity in both graduate and undergraduate course content. “While we don’t have infinite hours available in our already full program, we will figure out how to weave the necessary skills into our programming within a business context,” Griffin says, and adds that many of the changes will be ready to

implement within a year. He states that ﬁve years is the current planning horizon for achieving a measurable difference from the diversity initiatives. These efforts to more formally incorporate diversity within the context of business education at Sauder are echoed throughout UBC as faculties across campus, and the university itself, have embraced diversity awareness as a key element in creating an inclusive learning and living community for students and staff. It’s a movement taking hold at other leading North American universities as well. While the term “diversity” encompasses a host of issues, Griffin explains that among Sauder’s many goals,

“We hope to ‘open the doors’ of business by empowering those students who may feel marginalized or fear that they may not ﬁt into a corporate culture.” He says, “As a business school, we are uniquely positioned to inﬂuence diversity in the workplace and especially in the front office. We have an opportunity to act as a beacon for other business schools by demonstrating best practices in diversity education. If we can nurture a genuine culture of diversity and train our students to embrace it and thrive in the midst of it, then we can have a real impact over time on business education and on the larger business community as current students become future global leaders.” ■

67%

international MBA students

79%

international Sauder faculty

Statistics source: ft.com Business Education Rankings, accessed June 25, 2014, http://rankings.ft.com/businessschoolrankings/university-of-british-columbia-sauder.

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Diversity builds community A tale of two leaders EDITED BY

JENNIFER WAH

FOR A PERSPECTIVE ON DIVERSITY IN THE COMMUNITY, WHO better to address the topic than two alumni working in this very ﬁeld within their organizations? Laurie Sterritt and Marilyn Tyfting are both leaders in diversity management and community building, and yet they apply their experience for very different outcomes. Held high above their differences, however, is one common goal, in their own lives, their work, and their communities: diversity of thought.

Marilyn Tyfting joined TELUS in 2007

Laurie Sterritt joined the Aboriginal

and became the Vice-President, Human

Mentoring and Training Association

Resources for TELUS International in

(AMTA) as its founding Executive

2009. In this role she leads a global team

Director in 2009 and is now the CEO of

providing all facets of international

both AMTA and its subsidiary company

human resources support including

First Resources Impact Ventures (F1RST

recruitment, talent management,

RESOURCES). She came to AMTA from

compensation, benefits, payroll, learning

a senior role at Vancity Credit Union

and development, communications, and

where she led company-wide diversity,

strategic human resources support. Prior to

executive recruitment and social finance

joining TELUS, Marilyn held various senior

projects. She sits as the 1st Vice-Chair of

human resources roles within the Rogers

British Columbia Institute of Technology

Communications Group, after previous

(BCIT) and is a past member of Minerva

positions at the BC Transit Authority and

Foundation for BC Women’s Combining

the University of British Columbia. Marilyn

Our Strength Council. Laurie holds a

holds a Master of Science in Business

Bachelor of Commerce from the Sauder

Administration as well as a Bachelor

School of Business and a Professional

of Commerce specializing in Human

Fund Raising Certificate from the

Resource Management, both from the

University of Indiana. Laurie is a member

Sauder School of Business.

of the Kispiox Band of the Gitskan Nation.

SPRING/SUMMER 2014 VIEWPOINTS

Why is diversity important in communities? Historically, communities have been fairly homogenous; the idea of diversity in communities is both fairly recent and definitively Canadian. Is this a good thing? MT: A diverse and inclusive environment, representative of different races, religions, genders, cultures, and sexual orientations will nurture the authentic diversity of thought required to foster creativity and innovation through a wider exchange of perspectives and viewpoints. For Canadian society as a whole, sharing and celebrating our differences has enriched the social fabric of our country by utilizing the skills and tools of a broader, more representative, number of citizens. Diversity here also means improving the country’s output and financial performance as more people find fulfilling work, and developing a stronger link to global markets. LS: I’m a very strong advocate for diversity both in the corporate world and at the community level. But even more so, I believe in diversity of thought. By being open to multiple points of view, we have an opportunity to get close to “truth.” By bringing together different cultures, different education levels and different life experiences—creating an inclusive environment—we have a chance to make decisions, solve problems and generate possibilities for future generations living and working in a global economy. How have you contributed to, supported, or inspired diversity in *your* communities? MT: Some of the work that we do at TELUS International is focused on building

communication tools and infrastructure to support the exchange of information and ideas across our global team of 16,000. We develop learning opportunities to help our team members understand cross-cultural communications and develop their skills to successfully collaborate and share knowledge and experiences across their diverse work groups. Helping to create an environment where all team members are respected and feel their opinions are valued makes us all stronger together. I also work to support and inspire a common goal that brings our whole team together. Guided by TELUS’ deeply-rooted philosophy—We Give Where We Live—our team members are passionately committed to give with their hearts and hands and to volunteer together in a variety of events around the world all focused on creating healthier communities where we live and work. Our activities are tailored to each community. LS: In my current role, I have the opportunity to work with a complex stakeholder group that includes corporate executives, community leaders, educators and several levels of government. Through AMTA’s mission to create economic health with and for Aboriginal people, we have been able to inﬂuence positive change and produce tremendous results. In fact, over the past four years, we’ve supported more than 800 Aboriginal people to become gainfully employed—men and women who are contributing $109 million annually to Canada’s GDP, $85 million of which is realized right here in BC. With another 1,800 candidates in our network, we’re helping individuals develop sustainable careers and generate economic impact for their communities, the province and the country. At the same time, we support companies and managers to build inclusive and respectful workplaces across the province of BC. By working with AMTA, our partners are able to develop a loyal, local workforce as well as fulﬁll their commitments to local First Nations.

What are some ways you, or your organization, are stronger, more successful or more resilient because of a commitment to diversity? MT: As Darren Entwistle, the Executive Chair of the TELUS Board of Directors, has said, “Diversity creates a whole that is actually greater than the sum of the parts. Why? Because we are a truer and more genuine authentic reﬂection of the society, the markets and the customers that we serve.” In any highly competitive market, companies that succeed must do so through innovation, creativity and a better understanding of client needs, which requires input from the broadest perspectives, reﬂective of customers’ societal make-up. Our diversity of thought, skills, knowledge and perspectives at TELUS enables us to provide more authentic interactions with our customers, helping to meet their diverse needs and expectations. LS: By challenging assumptions about Aboriginal people and their willingness to engage in natural resources development opportunities, AMTA has been able to vastly improve representation rates within its partner companies. An incredible example is one of our mining industry partners in the Thompson Okanagan area—in the past four years, AMTA has worked closely with the New Afton mine, which now boasts a 30% Aboriginal workforce. It’s also important to know, 30% of all AMTA candidates are female—women in training or already working in “nontraditional” roles. Using AMTA’s process, candidates get credentials, experience and sustainable careers; communities get better relationships with industry, increased employment and improved economies; companies get more cultural awareness and a well-trained workforce made up of employees who are ready to work; and, governments get to show they’ve invested in “something that matters.”

Whom do you see as leaders in diversity? MT: I recently had the opportunity to work on a BC Minister’s Council with a diverse group of educators, community advocates, employers, and thought leaders on the topic of employment accessibility for people with disabilities. Many of the council members were people with disabilities, and they generously shared their own experiences as we worked through issues and discussions. It was a great reminder of the power of diversity and the innovation that can be achieved when at work and in our communities—we ensure we hear many different points of view. I also believe that as our kids grow up, they will be better off if they embrace diversity and grow up knowing they are global citizens. On that front, Craig and Marc Kielburger, the founders of Free the Children and We Day, are doing great work promoting an appreciation of diversity and inspiring young people to expand their view of the world through community giving. LS: Locally, Rabbi Philip Bregman—through his role as the spiritual leader of Temple Sholom Vancouver—inspired many individuals and touched many hearts and minds. Before he joined Hillel at UBC, Rabbi Bregman offered me an opportunity to share some First Nations traditions at Temple Sholom—a rare and special offering, to be sure. Globally, Sheryl Sandberg comes to mind as an accomplished executive, author and role model who offers practical advice for women on how to believe in themselves, pursue any goal and take a seat at any table. Another would be author and journalist Fareed Zakaria, an intelligent, thoughtprovoking and inﬂuential foreign policy advisor as well as Michelle Obama, who shows up educated, conﬁdent and poised. Obama supports working women to balance career and family, promotes the arts and arts education, and fosters healthy eating and healthy living for children and families. ■

VIEWPOINTS SPRING/SUMMER 2014

GENDER EQUALITY AND DIVERSITY

SPRING/SUMMER 2014 VIEWPOINTS

DIVERSITY STARTS

WITH A SINGLE

decision Sauder researcher Kai Li on gender balance in China, and the business benefits of female governance.

You could say Sauder ﬁnance professor Kai Li was born to push the boundaries in pursuit of gender equality and diversity. Her name proves it. Kai was predominantly a boy’s name in China. According to Li, it stands for “victory” in Chinese culture. “It shows what my parents hoped for me,” Li says with a smile as she shares the story of her upbringing. She was born in the ancient Chinese city of Kaifeng in Henan Province, then her parents moved the family to Baoji, an industrial town in Shaanxi Province, when she was six months old. She left home at age 16 to study in Xi’an, another ancient city, at a special program for gifted children offered through Jiaotong University. X

BRENDA BOUW

PHOTO BY

ROGER MAHLER

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GENDER EQUALITY AND DIVERSITY

Li is the eldest of two daughters of university-educated parents, and the first to eventually leave the country in 1990 to pursue a graduate education in Canada. Li received her Bachelor of Science in International Business, School

to look into why there are so few women in executive positions,

of Management, at Jiaotong University in Xi’an (a sister school to

including on corporate boards, at companies around the world.

the main campus in Shanghai), but upon graduation found there was little opportunity for educated women wanting to enter the

“You start to wonder, what is going on?” Li says. Some of the questions she wanted to pursue include “Are

professional workforce, particularly in her ﬁeld of international

women executives assets or liabilities? Are they trophies in

business and trade.

boardrooms, just like trophy wives?”

Even though China’s communist government promoted gender

She started her research years ago by reading biographies of

equality, Li says the reality was much different. Women were

female CEOs and exploring the issue of gender and diversity in the

seen as having more interest in raising a family than helping to

corporate world.

run a business, she says. Also, when they travelled for business, it

Li has published a number of papers on gender equality and

was customary that they had a man travel with them, which was

diversity in her successful career to date, including a widely

considered too costly and an inconvenience for many companies.

publicized study she recently co-authored titled “Director Gender and Mergers and Acquisitions.”

“I was totally hurt when I

She is also the recipient of

graduated,” Li says, thinking back to that time in her life. “It was part of the reason I decided to come to Canada.” She ﬁrst landed in Montreal in 1990, where her uncle was a visiting scholar at McGill

“Even though China’s communist government promoted gender equality,

numerous grants and awards, and has been invited to speak on the topic around the world. Earlier this year, Li marked

the reality was much different. Women were seen as having more interest in

2014 International Women’s Day by participating in a panel

University. Li obtained a

raising a family than helping to run a

master’s degree in economics

business. Also, when they travelled for

sponsored by BMO Financial

at Concordia University in

business, it was customary that they

Group. The group talked about

Montreal, then later a PhD in economics at the University of Toronto. Her ﬁrst job upon receiving

had a man travel with them, which

of women leaders in ﬁnance,

women in British Columbia’s ﬁnancial services sector, and

was considered too costly and an

their personal experiences in the

inconvenience for many companies.”

industry. BMO also released a study at

her PhD in 1996 was assistant

that time showing that, despite

professor of ﬁnance at the then

progress being made in recent

Faculty of Commerce, University of British Columbia. She has been working there ever since. “I’m embarrassed that I’m so immobile,” Li says with a laugh. “But I also feel so lucky to be in Vancouver at Sauder/UBC with great colleagues and students around me.” Until a couple of years ago, Li says she was the only female professor in the ﬁnance division of the school. That’s slowly changing, as is the gender balance in the classrooms, with more

years, 55 per cent of Canadians still perceive there is a glass ceiling for women pursuing a career in ﬁnance. Li discussed the so-called “ﬂexibility stigma” she believes many organizations still have, where it’s frowned upon for women, and even men, to work from home or take time off to accommodate family needs. She and others on the BMO panel recommended that more

women obtaining a ﬁnance/business degree. Still, she says the

companies put in place policies and mechanisms to encourage

number of women in the program drops dramatically at the

greater equity in ﬁnance positions.

graduate levels. It’s that reality that Li says was part of the motivation for her

SPRING/SUMMER 2014 VIEWPOINTS

“Diversity is often achieved by embracing the concept in the decision-making processes,” Li told the audience.

As a married mother of two teenaged children—a boy and a girl—she is also learning ﬁrst hand how the roles of women and men are shaped from an early age in North America.

Li recommends men and women alike need to be conﬁdent in themselves and choose a path that interests them. “Pursue your passion,” she says. “Do what you are really

“It helps me to better understand the issue fully,” she says.

interested in. Money is not your long-term goal. If you do things

Through her research, Li is trying to instill the same values of

you are passionate about and you work hard, you won’t have any

equality and diversity in her children that she teaches her students.

regrets because you are pursuing your dreams.” ■

As for her students pursuing a career in the business world,

Should women on boards be the law? Kai Li’s research shows a profit advantage One of Kai Li’s most widely publicized and some would argue controversial research papers is the recently published journal article ”Director Gender and Mergers and Acquisitions.” Li co-authored the study, first published in the Journal of Corporate Finance, with Sauder finance professor Maurice Levi and former Sauder PhD student Feng Zhang, now an assistant professor at the University of Utah. Its key finding—which was picked up by media around the world including The Wall Street Journal, the Harvard Business Review and The New York Times—is that the more women there are on a corporate board the less a company pays for its acquisitions. The study shows the cost of a successful acquisition is reduced by 15.4 per cent with each female director added on a board, and that each additional female director helps to reduce the number of a company’s attempted takeover bids by 7.6 per cent. “Our findings show that the prudence exhibited by women directors in negotiating mergers and acquisitions has had a substantial positive effect on maintaining firm value,” Li said when the study was first released in November, 2013. “Female board members play a significant role in mitigating the empire-building

tendency of CEOs through the acquisition of other companies.” The results included in-depth analysis of a large sample of acquisition bids made by S&P 1500 companies between 1997 and 2009. To determine the cost of the acquisitions, the researchers looked at the bid premium, which is the difference between the ﬁnal offer price and the stock price of the targeted ﬁrm, before the deal was signed. They then correlated the data with the number of women directors on the various boards.

“Our findings show that the prudence exhibited by women directors in negotiating mergers and acquisitions has had a substantial positive effect on maintaining firm value.” The results suggest women are less interested in pursuing risky transactions and require the promise of a higher return on investment. “We are bargain hunters,” Li said in a recent interview, when asked to sum up her research. The study is also timely, given the growing debate and discussion about female board members in corporate Canada, and around the world. Li says the research adds “ﬁre and

force” to recent calls to mandate a minimum number of women on the boards of publicly traded companies. For example, the Ontario Teachers’ Pension Plan, the largest single profession pension plan in Canada, is calling on the Ontario Securities Commission to require all companies listed on the Toronto Stock Exchange to have at minimum of three women on their board of directors by 2020. If they don’t comply, they would face delisting from the exchange. Li likes the recommendation, but also believes there’s a ﬁne balance between promoting female directors and mandating it. For example, she disagrees with what Norway is doing by mandating that the boards of publicly traded and public limited companies must have at least 40 per cent female representation. In Canada, she believes companies should be transparent and have to disclose why they don’t have more women on their boards, but that there shouldn’t be a quota. “I think government can foster the environment, but shouldn’t interfere,” Li says. “It’s a balancing act. We are in a free market. It’s about demand and supply. If there are enough talented women they should earn their spot in the corporate hierarchy. But if you introduce policy or regulation to dictate it, it can backﬁre.” ■

VIEWPOINTS SPRING/SUMMER 2014

GENDER EQUALITY AND DIVERSITY

New diversity prof will do much more than “lean in” BY

ANDREW RILEY

PHOTO BY

BRIAN HOWELL

When Professor Jennifer Berdahl watched the Sochi Winter Olympic Games in February, she wasn’t entranced by the ﬂamboyant opening ceremonies or the triple axels on the ice rink. Instead, she was struck by a realization. The countries ranking highest in the medal count were also the nations that ranked highest in gender equality. X

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GENDER EQUALITY AND DIVERSITY

Sauder’s new Montalbano Professor in Leadership Studies: Women and Diversity quickly pulled together a statistical model to explore the notion. She accounted for other factors that could influence medal wins like latitude, population, GDP and income inequality and added the medal count for the 2012 Summer Olympics for good measure. WHEN THE NUMBERS WERE CRUNCHED, IT TURNED OUT SHE was right. Not only did gender equity signiﬁcantly increase medals won by women, it also predicted how well men performed. “Gender and economic equality may result from and nurture humanitarian values that lift everyone up within a country,” writes Berdahl about the results in her blog. “Olympic glory may be just the beginning.” It’s this perspective that will guide Berdahl’s work at Sauder in her new role leading a research program focused on how business leadership can be made stronger through greater gender equity DON ERHARDT

and increased diversity. Formerly at the University of Toronto’s Rotman School of Management and the Haas School of Business at the University of California Berkeley, Berdahl has studied equity in the workplace for over 20 years. Her research, which ranges from investigations

John Montalbano, CEO of RBC Global Asset Management, Chair of UBC’s Board of Governors and a Sauder alumnus (BCom 1988, Leslie Wong Fellow), welcomes Jennifer Berdahl to the professorship he generously established.

into sexual harassment against assertive women to discrimination

school and take on an external role to inﬂuence practice in

against less masculine men, has led to roles as an expert witness

Canada and around the world.

and advisor to Canadian Parliament. Recently, it also put her on the radar of Facebook COO Sheryl

“I’ve spent the ﬁrst two decades of my research career identifying signiﬁcant problems that exist in the workplace,”

Sandberg, who leaned on Berdahl’s research in her bestseller

says Berdahl. “Now it’s time to ﬁgure out how to ﬁx them and

Lean In: Women, Work, and the Will to Lead. Contributing to the

help create change by having a dialogue directly with people in

thinking that underpins the volume, Berdahl also had the chance

organizations.”

to meet Sandberg after its publication to discuss the fallout. “I got to talk to her about the impact of the book and how

Already well acquainted with Sauder’s leading organizational behaviour research, Berdahl has collaborated with Sauder

important it has been for business schools and getting the whole

professors. Most recently, she co-authored a study comparing

issue of female leadership on the map,” says Berdahl who met

the negative effects of ostracism and harassment at work with

Sandberg over dinner after a recent conference at Stanford.

Professor Sandra Robinson, who is pleased her colleague is

“It’s tremendous to see the positive energy the topic has

joining the school.

developed since.” Berdahl plans to carry on this momentum at the Sauder School

“Jennifer does an exceptional job of balancing rigorous empirical research and sharing her expertise with people and organizations

of Business at UBC, making the school a centre of excellence for

outside of UBC,” says Robinson. “Her chief mission is to make

the study of equity in the upper echelons of business. She will also

the world a better place. I couldn’t think of another person more

guide the development of curriculum and programming at the

equipped to take on this professorship and its goals.” ■

SPRING/SUMMER 2014 VIEWPOINTS

SAUDER’S NEW WOMEN’S LEADERSHIP ADVISORY COUNCIL

Glass ceiling? Glass full Words on diversity from two respected female leaders Sauder’s newly formed Women’s Leadership Advisory Council (WLAC) was established to provide advice, networks and resources to advance the work of the school in promoting leadership opportunities for women and diverse members of society. The group will advise the dean on curriculum, student experience, research, community engagement, placement and diversity issues. The ﬁrst appointees were selected for their demonstrated interest in addressing leadership issues related to women and diverse populations. In this issue, two members—Sandra Stuart (COO, HSBC Bank Canada) and Tracey McVicar (Managing Partner, CAI Capital Management)—respond to a few questions about their experience with diversity.

Sandra Stuart

What are the diversity values where you work now? What

Chief Operating Officer, HSBC Bank Canada

impact did you make on this value? Why is diversity important in

What are three words that

a school setting (e.g., at Sauder)? As a global organization, HSBC places signiﬁcant value on

deﬁne or describe diversity to you?

having a diverse board and organization that truly represents our

clients, employees and shareholders. HSBC Bank Canada recently “Open, connected and inclusive,”

achieved gender parity on our board of directors and about 38 per

which tie in very closely with HSBC’s

cent of our senior executive team are women. This is the result

values of being open, connected and

of intentional focus and part of a larger program to improve the

dependable.

diversity of our organization. If we don’t have diversity of opinions, background and mindset

What kinds of experiences have you had working with others

in learning environments, how can we achieve diversity in our work

with different backgrounds than your own?

places? We can’t. The strongest leaders are developed over the

long term, so it’s important to recognize emerging leaders at the Being part of the world’s leading international bank

throughout my career, I have had a world of experience. I’ve been able to enjoy different backgrounds and cultures and lived

beginning of their careers, encouraging them to achieve their full potential. One of the things that HSBC is doing to foster diversity in post-

in different geographies. My own experience as an outsider in

secondary education is to fund scholarships and bursaries to help

another culture has made me more sensitive. When I worked in

with the cost of education, which allow individuals with leadership

Brazil without speaking Portuguese, it was very isolating. I had to

potential to fully experience all that university and college has

work hard to ﬁnd ways around that. It has made me an advocate for

to offer. In Canada, we have more than 65 academic awards

diversity. When I encounter someone from a different background,

established at colleges and universities including speciﬁc programs

I listen harder and make more of an effort to understand. I try to

for emerging women leaders, the LGBT community and Indigenous

make them feel more comfortable.

students.

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GENDER EQUALITY AND DIVERSITY

Tracey McVicar Managing Partner, CAI Capital Management

At our small investment ﬁrm, we didn’t really think about

diversity here until very recently, when we realized that I’m one of the very few female managing partners in a private equity ﬁrm in North America. I guess that makes us unique and diverse!

Is there a moment, a place,

an organization, or a person that epitomizes diversity for you?

As it relates to Sauder, diversity is critical in the classroom. If we’re going to change the diversity map in the boardroom, we need to start in the classroom. It is today’s students who will beneﬁt from and also uphold the values of inclusiveness and sensitivity

Many of the organizations

that are being demonstrated by example at Sauder. ■

for which I volunteer epitomize the spirit of diversity—Atira Women’s Resource Society, Big Sisters, the Vancouver Japanese Language School and Science World. They are all doing their part to break down barriers and improve diversity through mentoring, job training, community events and education.

LIST OF WLAC MEMBERS

In many ways, the non-proﬁt sector is further ahead on diversity issues than the corporate world. There are more women and more socially, economically, culturally and physically-diverse people on

Christine Day CEO, Luvo

their boards, their staff and among their volunteers. The corporate world should celebrate this and look to this sector for proof of the business case for diversity.

In what ways have “mandated” diversity (i.e., board quotas)

Carol Lee, BCom 1981 CEO, Linacare Cosmetherapy Inc. Tracey McVicar, BCom 1990 Managing Partner, CAI Capital Management

beneﬁted or hindered your career, if at all?

I was deﬁnitely a beneﬁciary of the efforts of the Premier

John Montalbano, BCom 1988 CEO, RBC Global Asset Management

and Liz Watson who established the Provincial Board Resourcing and Development office in 2001. For the ﬁrst time, provincial crown, agency and other boards had to meet formal appointment guidelines that reﬂected best practices in corporate governance. More importantly, Liz’s office reached out and actively recruited

Josephine Nadel, UBC LLB 1977, BA 1974 Shareholder, Owen Bird Law Corporation Susan Paish, BCom 1981, UBC LLB 1982 President & CEO, Lifelabs

individuals who met the criteria they were looking for, including me for the BC Hydro board. Thirteen years later, BC’s crown, agency and other boards have become examples of the beneﬁts of

Ratana Stephens Co-CEO, Nature’s Path Foods

diversity, and they are giving a whole new generation of directors an opportunity to give back to this great province.

What are the diversity values where you work now? What

impact did you make on these values? Why is diversity important in a school setting (e.g., at Sauder)?

SPRING/SUMMER 2014 VIEWPOINTS

Sandra Stuart COO, HSBC Bank Canada Elizabeth Watson, UBC LLB 1981 President, Watson Advisors Inc.

The “everyone welcome” workplace Scholarship winner wants LGBT-friendly workplaces BY

BRENDA BOUW

PHOTO BY

MARK MUSHET

Sauder accounting and marketing student Emmet Lee will be working differently than some of his classmates this summer—and not in the kind of job that will earn him a steady paycheque. Instead, the third-year student plans to spend more time volunteering, particularly with non-profit organizations that help promote diversity and inclusion for members of the Lesbian, Gay, Bisexual and Transgender (LGBT) community. X

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LGBT DIVERSITY

Emmet Lee is the first recipient of the HSBC LGBT Student Award at Sauder School of Business.

THANKS TO A $5,000 SCHOLARSHIP

community. It is also being handed out

creating this workforce, and we want to help

Emmet Lee received from HSBC Bank

at three other schools across Canada—

recognize community-focused members of

Canada earlier this year, Lee has more

the Beedie School of Business at Simon

the lesbian, gay, bisexual and transgender

ﬁnancial stability, allowing him to spend

Fraser University, the Rotman School of

community early on.”

time helping to raise awareness about

Business at the University of Toronto, and

LGBT issues, including promoting visibility

the Schulich School of Business at York

involvement in a number of student

and diversity in the business world—where

University—through a contribution of

activities at Sauder. He served on the

he plans to work as an accountant after

$20,000 per school over four years

board of directors of the Commerce

graduation.

from HSBC.

Undergraduate Society in his ﬁrst year. In his second year, he was president of the

Lee is the ﬁrst recipient of the HSBC LGBT Student Award at the Sauder School

Lee received the award due to his

Vanier Residence Association on campus.

of Business at the University of British

“In the business world you

He is now a Residence Advisor at the

Columbia.

don’t tend to see a lot of queer

Totem Park Residence Association and

representation. It’s really

works on its equity committee.

“Representation through my profession is a way I think I can help to support the gay community,” said Lee, 20, who was

encouraging to see such a

He’s a big proponent of the HSBC LGBT Student Award, encouraging others to

born in small-town Alberta before moving

major company taking active

apply, in hopes that it will help to break

to Vancouver as a teenager. He came

steps to try to change that.”

down barriers and stigma around being gay in the business world.

out as gay when he was 16 years old, an

“In the business world you don’t tend

experience he said was both challenging and enlightening.

The award is open to all undergraduate

to see a lot of queer representation,” he

business students who show strong

said. “It’s really encouraging to see such a

to his tuition, will mean he doesn’t have

academic achievement, leadership

major company taking active steps to try to

to work a second job this summer. He will

skills and community service through

change that.”

use the extra time to volunteer with the

participation in LGBT organizations or

Vancouver Pride Society, the organizing

initiatives at their universities. Award

body behind the annual Vancouver Pride

recipients can also apply to be considered

Parade, Sunset Beach Festival and Market,

for summer internship positions with HSBC

what I believe my role in the business

and about 20 events throughout the

Bank Canada, as well as management

community was as a gay man. What are my

summer.

trainee programs upon graduation.

responsibilities? What does that look like?

He says the award, which was applied

“It was important for me to use the

“HSBC works to ensure that we have

Even the process of ﬁlling out the application was a positive experience for Lee. “It really forced me to reﬂect on

It was a worthwhile exercise to go through, even if I didn’t win in the end,” he said.

award in a way that will continue to

a culture that is inclusive, positive and

support my education and career goals,

performance-oriented. We know that having

but also enables me to give back to the gay

a diverse workforce allows us to beneﬁt from

electing to do a ﬁfth year to do a double

community in some way,” he said. “There

a variety of perspectives and strengthens

specialization in accounting and marketing.

is so much more I can do and that I need to

HSBC overall,” said Sandra Stuart, Chief

learn and understand.”

Operating Officer, and Diversity and

books for a product or brand that he is

The HSBC award is aimed at recognizing

Inclusion Council Head, HSBC Bank Canada.

passionate about. ■

and celebrating students active in the LGBT

“Education is a fundamental building block in

SPRING/SUMMER 2014 VIEWPOINTS

Lee plans to graduate in 2016,

After that, he hopes to work on the

Translating Indigenous business education BY

KATE ZIMMERMAN

PHOTO BY

MARK MUSHET

The Sauder School’s Ch’nook Indigenous Business Education program started out as a way to do good in the community. Over the course of 12 years, it’s blossomed into something bigger, echoing Aboriginal values by focusing on the passing of knowledge and wisdom from generation to generation. In this case, they’re being passed from educational institution to student, and from post-secondary graduate to future post-secondary student. X *A sentence meaning “It comes from the Ancestors” in the Musqueam dialect. Samantha Elijah is an Anishinaabe from Kettle and Stony Point First Nation in Ontario, and graduated from Sauder’s Aborginal Mentorship Program in 2013. She works in Victoria now, and is raising her two boys, Trent Running Wolfe (back), and Trevor Thunder Hawk.

VIEWPOINTS SPRING/SUMMER 2014

The idea of “the progressive energy of cycles” is captured in the program’s logo of two salmon curved toward each other harmoniously, designed by Kwagiulth artist Ross Hunt. ACCORDING TO CH’NOOK MANAGER

mentoring high school students at Cousins

share the knowledge she’s accrued rather

Miranda Huron, the program started as

events, held all over BC.

than using it purely to satisfy personal

externally facing, just a way of encouraging Indigenous peoples “to go into business, to assist them through our scholarship

There, says Huron, “We do game-based learning about what business studies are.” The participating high school students

ambitions. “The thing that really drives me is helping indigenous women learn about

program, to assist them with their school

learn about budgeting and time management

business—not in a way that is corporate

year, their tuition.”

and write a draft scholarship letter, so each

but in a way that speaks to their feminine

attendee walks away with a template that

values: cooperation and working together

Emeritus John Claxton, Ch’nook’s three

he or she can adopt for use in the future.

and building businesses that come from

components are a Cousins program, aimed

Each high school student also gets a one-

a feminine value perspective,” says Elijah.

at inspiring Aboriginal high school students

on-one conversation with a Scholar about

“It’s about them having time to spend with

to become business students through

what to expect in business school.

their families, building community and

Founded in 2002 by Sauder Professor

mentorship by those who’ve already done

making money while they’re doing that,

so; a Scholars program for Aboriginal post-

so it’s much more of a social entrepreneur

secondary students from BC and Alberta

“The thing that really drives me

who are pursuing business education

is helping indigenous women

full-time; and a Canada-wide Aboriginal

learn about business—not in

business and women because women are

Management Program (AMP), geared

a way that is corporate but

at home, they take care of their kids, and

to leaders who may have management experience but don’t have a grounding in business.

in a way that speaks to their feminine values: cooperation

perspective. “I want to bridge these two worlds of

they are building the next generation. They build society, because whatever values they instill in their children is what people carry

and working together and

with them,” she continues. “It’s kind of a

larger initiative to increase Aboriginal

building businesses that

revolutionary idea I’m kicking around, but

engagement in business studies,” says

come from a feminine value

that’s where I intend to take my education.”

Danielle Levine, Associate Director and

perspective.”

Ultimately, “Ch’nook is part of a

program is merit-based, Huron says

lead of the AMP.

Ch’nook staff looks for something on top of

Participants in that certiﬁcate program include managers who may not have had

While admission to the Scholars

There are nurturing circles within circles

diligence and smarts: leadership quality.

any business training, and students who

here. Samantha Elijah, 31, an Anishinaabe

wish to become entrepreneurs. It helps

from Kettle and Stony Point First Nation

on their way to becoming leaders, towards

them develop an initial skill base that eases

in Ontario, graduated from the AMP in

that goal,” she explains. “And so we create

their way to pursuing degree programs

2013. She is now the ﬁrst student from

two Scholars Gatherings every year—one

later, or to further success on their chosen

Royal Roads University to earn a Ch’nook

happens at UBC and one happens at one of

career path.

scholarship, and be part of the Scholars

our three partner institutions (University of

program.

Northern BC, Vancouver Island University

The Cousins program is a mentoring session by Ch’nook’s Scholars—business

The single mother of two will earn her

“We’re assisting these people, who are

or Thompson Rivers University). We

students on scholarship who get help with

Bachelor of Commerce in August 2015,

really talk about Aboriginal ways of doing

their marketing tools and paid internships,

and plans to become a consultant to other

business and we have Aboriginal leaders

and receive reference letters in return for

Aboriginal businesswomen. She wants to

come in and speak.”

SPRING/SUMMER 2014 VIEWPOINTS

Encana shows strong support of Ch’nook program In addition to participating in these Gatherings, the Scholars’ course-load

A gift by Encana of $150,000 over three years will help support the Sauder School’s

includes each student making a leadership

Ch’nook program. Announced in April, it’s the Calgary-based energy company’s third

video, featuring someone the Scholar looks to as a leader in the Aboriginal sphere. In the AMP, over the course of 19 instructional days spread over four months, students learn business basics, including human resources, organizational behaviour and Aboriginal business law. “It’s like a mini Aboriginal MBA,” says Levine. “They’re getting all the core elements of business, primarily taught by Sauder faculty.” What’s the difference between Ch’nook and other management programs? Levine

three-year pledge, bringing its total donations to $750,000. “We appreciate Encana’s generous financial assistance. Without the company’s help, it would be difficult to provide these quality programs,” says Danielle Levine, Associate Director and lead of Ch’nook’s Aboriginal Management Program (AMP), noting that the $50,000 annual donation will fund two AMP scholarships as well as contribute to its operational budget. “We also appreciate Encana’s donation of time. Over the years we have developed a good working relationship that goes beyond the donation.” Levine says Encana has been an active participant on the Ch’nook advisory board, providing feedback and input on the quality of its programs. The company also participates as an external advisor during the AMP capstone business presentations by giving feedback on the students’ business plans. “We appreciate Encana’s contribution to Ch’nook and look forward to continuing that relationship,” says Levine.

says that while traditional management

Encana’s Jeff Beale, Senior Aboriginal Relations Advisor, is equally keen on the alliance.

programs generally emphasize proﬁts, in

“The Ch’nook Aboriginal Management Program is a unique educational offering that

the Aboriginal communities where Ch’nook

provides leadership and governance and business management training all in one,” says

students have grown up, the emphasis

Beale. “It’s a high-level offering that provides Aboriginal people in our operating area with

is often on dealing with social issues,

great exposure to a quality business management school.”

employment and capacity. The goal of

Beale, who lives in Fort St. John, says he keeps in touch with graduates of the AMP.

community leaders, she explains, tends to

“I know that the folks who have taken the program up this way—those funded by us

be “taking care of a Nation, not necessarily

and those not funded by us—have greatly appreciated the insights into their business or

an individual. So the orientation toward

the working structure of their Aboriginal governance situation,” he says. “They notice a

business is a bit different.”

difference.”

Not surprisingly, she and Huron strongly

The Aboriginal people who’ve taken the course have so far not expressed any desire

believe in the importance of business

to work for Encana, Beale notes. Instead, they’re running their own businesses or working

education in any culture, but particularly in

in First Nations administration. But attracting new employees is not the point of Encana’s

this one.

contributions.

“In Aboriginal communities, there’s often an issue of poverty,” Levine says. “There are many people who believe that the best way to relieve poverty is by increasing economic opportunity, and to do that, you need business skills. So increasing that education helps to increase community economic development.” ■

“We work with Aboriginal businesses where and when possible, and there’s definitely a desire to see them grow and do better,” he says. Meanwhile, says Beale, Encana’s funding helps raise awareness among Aboriginal people in the company’s Cutbank Ridge–Dawson Creek operating area that there’s a major opportunity available to those who are interested in a business education—the Ch’nook experience gives them a head start. Encana is a leading North American energy producer, with Canadian and American operations. It supports business education in the communities in which it operates and provides other scholarships at regional colleges in northeastern BC— Northern Lights College and Grande Prairie Regional College. ■

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ABOVE PHOTOGRAPHS BY ALEX JASON CHAU

SPRING/SUMMER 2014 VIEWPOINTS

Ready, set, invest! Investment banking competition has high return rates BY

KATE ZIMMERMAN

When Philip Chua and two fellow Sauder School of Business graduates launched a competition showcasing students’ investment banking skills, they never imagined it would become an international draw. THE FIFTH ANNUAL NATIONAL Investment Banking Competition & Conference (NBIC), held in Vancouver in January 2014, included about 1,000 students, 65 per cent of whom came from schools in the US, Europe and Asia. That compares to the ﬁrst event held in 2010, when 200 students in Canada signed up to participate. NIBC has also attracted a number of high-level banking professionals and former Sauder graduates to its board and case committee, including Tracey McVicar, Kathy Butler and Chris Tsoromocos, to name just a few. For Chua and fellow graduates and NIBC founders, Dipak Kamdar and Amardeep Chandi, the event was an opportunity for university graduates to test their investment banking skills against their peers. “We were ambitious and we needed to have a chance to measure our skill set against others in North America and around the world,” says Chua, who graduated with a Bachelor of Commerce from Sauder and worked at UBS in London, UK during the ﬁnancial crisis. Kamdar and Chandi, who graduated in subsequent years went on to work at Royal Bank of Scotland in Hong Kong and Morgan Stanley in New York. Now an investment banking associate at Macquarie Capital in his hometown, Vancouver, Chua continues to help run NIBC each year. His primary role is to work with the case committee to conceptualize

and model a transaction that students use in the competition. These have consisted of authentic merger and acquisition transactions based on real situations across various sectors including mining, fashion, gaming and ﬁlmed entertainment. “People often ask me why I do this year after year—investment banking is a demanding enough job as it is—but we felt the event had reached a lot of people and grown too far to give it up,” says Chua. Together with David Lam, who was instrumental in organizing NIBC since 2010 and is now an investment banking analyst at Macquarie, Chua has endeavored to create an organizational structure and professional board to oversee the event each year. “We saw this as an opportunity to build our own team but most of all it was a personal investment in our friends and professional acquaintances, many of which have become widely successful beyond our imagination.” “What inspired us was the opportunity to work with and (hopefully) have a positive impact on some of the most accomplished and hardest working students that go through the Sauder program every year. We don’t see them being any different than ourselves a few years ago and I have met my most trusted friends on this team.” Chua didn’t learn about investment banking until later though. As a kid growing up in Germany, his dream was to be a concert pianist.

Philip Chua BCom 2009 Co-founder, NIBC

As a kid growing up in Germany, Philip Chua’s dream was to be a concert pianist.

VIEWPOINTS SPRING/SUMMER 2014

Egizio Bianchini MBA 1985 Speaker, NIBC 2014

In the role he describes as “quarterback,” Bianchini works with ﬁgures in the billions of dollars.

“I was quite obsessed but sadly not that great” says Chua, who gave up that dream in high school after moving to Vancouver with his family. He developed an interest in business after graduating from Eric Hamber Secondary School, and after graduation pursued a business degree at Sauder at the University of British Columbia. It was through his course load that he became curious about how companies were ﬁnanced. Chua took some time off during his studies to work for a media company startup in London, UK and later worked in equity research at UBS. It was through those experiences that he discovered he didn’t want to report on business transactions, but be a part of creating them. After two years in the UK, Chua returned to Sauder to ﬁnish his degree. In 2008, even as the global recession shut down every job in investment banking, he was fortunate to land a position at Macquarie. Chua’s goal is to continue expanding his perspectives and network in Vancouver and around the world, while continuing to help build the NIBC network with friends in the industry. He’ll also continue to play the piano, as a personal interest. ■

WILLIAM SHAKESPEARE PENNED “all that glisters is not gold” in The Merchant of Venice, and Egizio Bianchini, BMO’s Capital Markets Vice-Chair and Global CoHead of the Global Metals & Mining group, understands its literal meaning. Bianchini, who started his career as a geologist, is well aware of all the world’s glittering but potentially risky mineral enticements. Despite a lifelong interest in rocks, the Mississauga-based Bianchini long ago decided to leave the actual mining to others. He prefers the role of matchmaker for the mining industry. “An investment banker, at the end of the day, is really a merchant banker,” Bianchini recently explained in Vancouver, where he was a keynote speaker at the National Investment Banking Competition

SPRING/SUMMER 2014 VIEWPOINTS

& Conference. “We take the entity that needs capital and the entity that has capital to deploy, and we marry them at the right time. An investment bank has corporate clients, clients who have capital—and those clients could be retail clients, institutional clients, sovereign wealth funds... so really what we are is intermediaries. We provide capital raising, which could be equity capital or debt capital or a hybrid of the two. We provide M & A services, we provide valuation work, timing work, communication to investors. We lend to all the major mining companies and some not so major.” In the role he describes as “quarterback,” Bianchini works with figures in the billions of dollars. It’s a challenge that some might find daunting, but that’s how the native of Lucca, Italy not only makes his living, but gets his kicks. Bianchini comes from a family of three boys, and he emigrated from Tuscany to Canada with his family when he was six. Like many Italians, he says, his parents hoped to make a good living elsewhere and return home to la bella vita. “It’s a great place to be from,” he says of Lucca. His family remained in the Toronto area, where Bianchini’s dad still brings him a huge pot of barely sprouted basil every May that, by June, has turned into bushels of the stuff. Bianchini—the father of three boys and a girl, aged 11 to 18—claims to have no hobbies. When pressed, however, he admits to loving to cook and grow flowers, to visiting botanical gardens all over the world, and to dreaming of nurturing an orchid from bud. You can take the Italian out of Italy, but stamping out his native gusto may be another story. Still, he makes it clear that he gets his real stimulation from his job, which started out as a simple attraction to the sciences. When he entered the University of Toronto, he intended to major in chemistry. Bianchini soon realized he wasn’t that keen on toiling over beakers, but geology was a different beast. “I find the whole geology of the earth extremely fascinating.

KEVIN LAU

More than 1,000 students showed off their skills at this year’s National Investment Banking Competition in Vancouver in January.

I mean, the genesis, the timeline of the earth, paleontology—and I love rocks. You can learn a lot by looking at a rock. I go to the beach with my kids, and I’m going, ‘Look—here’s some garnet, here’s some tourmaline.’” Bianchini pictured himself discovering a giant gold mine and making his fortune shortly after graduating with his bachelor of science in geology in 1983. Instead, a major recession meant there were few jobs available in the mining industry. “Fortunately, I’d developed an interest in the stock market—I’d dabbled in it,” he recalls. “I had an interest in the business of mining so I thought, ‘I’ll apply to MBA school.’” UBC’s program proved ideal for Bianchini—who found professors Robert Heinkel and Eduardo Schwartz especially helpful—because it focused on pure ﬁnance theory. “For someone who didn’t actually come from a business background, I’m not sure I would have done as well with a case study school. I just didn’t have the basics. So the ﬁt was right for me.” Post-MBA, Bianchini took a job as a business analyst from 1985 to 1988 at

Edmonton’s Echo Bay Mines, a gold mining company. It was during this time that he met and wooed his wife (and future CA). “I really learned all the things that are important in business—work hard, do your homework, bottom-up analysis, all that wonderful stuff. I learned that making mistakes is okay.” His next stop was a securities analyst position at Levesque Beaubien, now part of National Bank Financial. A year later, he moved to the brokerage ﬁrm Nesbitt Thomson, where he was a securities analyst for 12 years, covering gold stocks. Over that period, Nesbitt Thomson merged and rebranded many times to become People Capital Markets and ultimately, BMO. “In 2001, mining was going through its nuclear winter, the internet bust had happened, analysts were being scrutinized left, right and centre, and the failings of Wall Street made it very difficult on all of us,” he says. “The analysts were being criticized for touting their stocks—the whole internet bubble burst. It was not pretty.” When a job in investment banking became available at BMO, Bianchini—who

loves observing, reacting to, and being proactive about the market—made an internal move. “I was kind of oriented to investment banking anyway. I was a much more proactive analyst. I had the experience, no one else wanted it—no one wanted to be the head of mining anywhere—and I took the job.” His timing, among other things, must have been ideal. In 2001, there were ﬁve to seven people focusing on mining investment at BMO. Now there are close to 70 globally, in Toronto, Vancouver, New York, Beijing, Melbourne, Mumbai and London. As BMO’s Vice-Chair Global Co-Head Metals & Mining, Investment & Corporate Banking, Bianchini says that ultimately, his job is about the relationships that he and his partners forge all over the world. In addition, he says, it’s like solving a puzzle, ﬁguring out which product is best at which time and what’s the right message for a client to deliver to the market. “There’s a lot of qualitative interpretation of data and events,” says Bianchini. “And I like that.” ■

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JIM GILLILAND DIDN’T HAVE ANY

Jim Gilliland BCom 1993 Speaker, NIBC 2014

“Position yourself where the industry is headed, not the hottest areas right now or the ones that may pay the most.”

SPRING/SUMMER 2014 VIEWPOINTS

business-minded mentors as a kid growing up in the small village of Chase in British Columbia’s southern interior, far from the financial centres of Vancouver’s Howe Street or Bay Street in Toronto. His parents were psychologists—a profession one of his brothers later pursued, while the other became an engineer. For Gilliland, the road to his current role as President and CEO and Head of Fixed Income at Vancouver-based Leith Wheeler Investment Counsel Ltd. began with his education at the University of British Columbia. He started off a science major, but quickly discovered the kind of equations he enjoyed had more to do with math than science. For his second year at UBC, Gilliland transferred into the Bachelor of Commerce program, where he discovered a passion for fixed income and macroeconomics. He was later introduced to a local money manager, Milton Wong, who gave him his first job as a fixed-income analyst at M.K. Wong and Associates. “I remember in the interview he asked at least two or three times, ‘Are you sure you want to do fixed income and aren’t just looking for an opening so you can eventually pick stocks?’” recalls Gilliland, of his soon-to-be mentor. Gilliland assured his soon-to-be new boss that he had found the right fit. The company was later sold to global banking firm HSBC, where Gilliland worked as a vice president, while continuing to take courses in math and statistics at UBC, deepening his knowledge of the finance industry. In 2001, he moved to California to obtain a master’s in financial engineering at the University of California, Berkeley, Haas School of Business. A year later, Gilliland took a job at Barclays Global Investors in San Francisco, where he worked his way up to Managing Director. Seven years later, Gilliland got a call to come back to BC and join Leith Wheeler as head of fixed income. He and his wife, whom he met while studying at UBC years

earlier, jumped at the chance to return to their home province. Gilliland also liked the idea of working for one of Canada’s fully employee-owned asset management firms, which oversees more than $15 billion for a set of pension funds, foundations and high net worth individuals. While Vancouver may not be a financial mecca similar to Toronto or New York, Gilliland sees it as a competitive advantage in many ways. Being outside of those places often helps financial industry professionals look at the world from a slightly different perspective. “I think it does help to have more of an independent mind and an independent approach,” says Gilliland, who was recently appointed to join the Faculty Advisory Board for the Sauder School of Business. For students looking at a career in finance, Gilliland recommends having well-rounded interests, since business is conducted across several sectors, as well as high morals and a balanced ego. He also recommends professionals look at the markets long term. “Position yourself where the industry is headed, not the hottest areas right now or the ones that may pay the most,” he says. When he’s not poring over financial data and strategizing for his clients, Gilliland can be found training for his next marathon or spending time with his horses on a breeding farm in south Langley, BC. As much as he and his family love their Norwegian Fjord horses, it’s not a hobby he recommends as an investment. “If you fix horses that are broken, like a vet, you can make money. If you put shoes on horses you can make money. If you own horses you cannot make money,” Gilliland says with a grin. “If I look at my capital cost, it has depreciated similar to a car. If I look at the operating costs, they’re similar to a used boat. That’s not a great set of circumstances for an investment opportunity.” ■

The pleasure of giving back BY

BRENDA BOUW MARK MUSHET

PHOTO BY

A quick glance at Bob Gayton’s resume and it’s clear that he’s not the type to sit back and watch the world go by. He likes to participate. X VIEWPOINTS SPRING/SUMMER 2014

BOB GAYTON BCOM 1962

Even now, in his mid 70s, the University of British Columbia graduate (BCom 1962) is involved in a number of companies, professional organizations and charities. He finds his work both interesting and rewarding, forgoing what could be a lifestyle of long days on the golf course.

More than 50 years after graduating

Gayton was offered a job at the accounting

from UBC, and a decade teaching at

ﬁrm Peat Marwick (now KPMG). While

business schools until the mid-1970s,

there he completed the Uniform Final

Gayton is also giving back to his alma mater.

Examination (UFE) in 1964 and earned his

He recently donated a total of $100,000 to be split between two Sauder programs:

CA designation. Not long after, UBC offered him an

$50,000 to fund the Daniel F. Muzyka

Assistant Professorship in the accounting

Head of the Class Award (awarded to the

division at the Faculty of Commerce.

student with the top marks), and $50,000 to the Arthur Beedle Case Competition Awards (to be distributed evenly over 10

The Arthur Beedle Award

years), which Gayton named in memory

donation will help UBC

of a former UBC professor and one of his

students attend business

mentors. Gayton says he wanted to give back to UBC, a place that helped to shape

case competitions in various

his career and where his wife and children

countries around the world.

also attended university.

Gayton believes it’s an

The money, in particular the funds going

invaluable experience for

“I DON’T WANT TO RETIRE. STAYING

towards the case competition, is meant to

busy and staying involved is what I prefer

encourage students to strive for success

to do—to keep my mind working,” says

and gain new experiences. He says these

Gayton in a recent interview from his

characteristics will help them to better

downtown Vancouver office.

compete in today’s ever-changing business

in academia—“and I was fairly good at

world. “I want them to be leaders,” he says.

it.” He recalls having a number of bright

“I work hard, but I also have quite a bit of fun, too!”

The Arthur Beedle Award donation will

young soon-to-be graduates. Gayton says he really enjoyed working

students who have also gone on to achieve

help UBC students attend business case

success in the business world in BC and

Sunshine Coast summer home, ﬁtness,

competitions in various countries around

around the world.

ﬁshing, boating and hanging out with his

the world. Gayton believes it’s an invaluable

grandchildren—all in between director roles

experience for young soon-to-be graduates.

His fun includes spending time at his

on the boards of a number of public mining

“I want to encourage people to do real

After teaching for two years, he decided to go back to school and in 1967 moved to Berkeley with his wife Penny,

companies such as Amerigo Resources

things, assess an opportunity and what will

also a UBC graduate, to pursue a PhD.

Ltd., B2 Gold Corp., Eastern Platinum Ltd.,

make it work. That’s what this money is

He recently funded a PhD fellowship in

Nevsun Resources, and Western Copper

meant to do,” he says.

the University of California—Berkeley

and Gold Corp. Gayton is also a Director Emeritus and major donor to the Paciﬁc Salmon Foundation and chairman of an advisory

Gayton’s philosophy comes from his experience as a lifelong educator and business leader. After getting his business degree at

Accounting/Business program. To pay the bills while at Berkeley, he worked as a marker and supervisor and also taught with the Institute of Chartered

committee to the accounting program at the

UBC, where he was also president of

Accountants of BC’s summer CA student

British Columbia Institute of Technology.

the Commerce Undergraduate Society,

program, which had the beneﬁt of keeping

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Arthur Beedle Case Competition him up to date on education and exam structures in Canada. In 1971, he moved back to Vancouver and continued teaching at UBC. In 1974, Gayton moved to Toronto to work again at Peat Marwick, and took on the challenge of heading up and directing the firm’s national training program, and later becoming a partner at the firm. He also served as vice chair and chair of the education committee of the Ontario Institute, and served on the Canadian Institute of Chartered Accountant’s international qualifications board and the national education committee. He was awarded a prestigious FCA fellowship by the Ontario Institute, given to CAs in recognition of their service to the profession. He subsequently received a fellowship from the B.C. Institute and more recently, their Lifetime Achievement Award. In 1981, Gayton decided it was time to return home to BC where he started up Peat Marwick’s newest office in Coquitlam, before eventually joining the firm’s Vancouver office. He left public practice in 1987, and worked as the Chief Financial Officer and Chief Executive Officer at a number of public companies in the resource and non-resource fields. Gayton says his time studying and teaching at UBC helped shape his career, which is why he wanted to help others follow the same path. “I didn’t sit back and wonder what I’m going to do with my life. I was always busy doing something,” he says, thinking back. He encourages today’s students to stay active and involved, and maybe someday they, too, will have the pleasure of returning the favour. ■

THE ARTHUR BEEDLE CASE Competition Awards are named after Arthur “Dick” Beedle, who was an inspiring colleague and mentor to Bob Gayton. Gayton’s $50,000 donation will be distributed over 10 years ($5,000 per year), starting from the 201213 academic year, to support the participation of Sauder School of Business undergraduate students at case competitions that take place around the world. Sauder associate professor Kin Lo, who coaches the case competition teams, says the money is distributed to students based on their performance at these events. “It doesn’t matter if they win or not, but how they perform,” he says. “The difference is the judges’ assessment of the ﬁnal product versus how I feel about their performance throughout the competition.” This year, the money went to ﬁve Sauder students out of a total of 16 involved in the competitions, each of whom received $1,000. The money is used to offset the cost of travelling to the competitions. While about two-thirds of the funding for the competition comes from UBC (including the Commerce Undergraduate Society), the rest is the responsibility of the students participating in the events. The competitions involve business scenarios that students are required to analyze in a short time period, after which they present their strategies to a panel of judges. Sauder students have had a lot of success in the case competitions in recent history. Last year, they won the Marshall Cup, the world’s largest undergraduate case competition and

were also runners up in competitions in Copenhagen and Auckland. This year the competitions are in Brazil, New Zealand, Denmark and London, Ontario. At the time of writing, the teams have already won the Champions Trophy in New Zealand, and placed third in Brazil, and were finalists in London. Lo says the competitions are a great learning opportunity for students, exposing them to real-world business problems. “They really bring out the best in students, who achieve more than they imagine,” he says. The money also allows students to attend who might not otherwise be able to due to financial constraints. Pia Ghosh was one of the first recipients of the award money, which she says has helped to finance a valuable learning experience outside the classroom. “Awards such as these have helped students from all backgrounds pursue extracurricular activities without being constrained by financial burdens,” says Ghosh, who graduated from UBC in May 2013. “It is humbling to think that the organizers of this award support my personal and professional development.” She says the case study experience challenged her ability to “think analytically, speak persuasively and act strategically.” “These highly competitive business competitions have given me an opportunity to refine both my emotional and intellectual capabilities,” she says. What’s more, she built longlasting relationships with top business students from around the world, many of whom she calls friends and possibly even future business partners. ■

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Earning Interest BY

ALLAN JENKINS

Expensive things from the sea

Brent crude oil

$120.69/bbl Even though Canada is the ninth largest exporter of crude oil and petroleum products, provinces from Ontario eastward import 60 per cent of their oil needs.

Wild Alaskan sockeye salmon

$51/kg Beluga sturgeon caviar

$11,600/kg The roe of the beluga sturgeon (Huso huso) is the most sought after caviar in the world. The beluga is endangered, and the Convention on International Trade in Endangered Species severely restricts, but does not ban, trade in beluga caviar. One kilogram should cater your 30-person party nicely.

Fleur de sel de Camargue

$18.50/lb Sea salt is made by drying seawater in large salt pans. Fleur de sel is the most delicate and ﬂaky of sea salts, hand raked from the surface before the coarser salts sink.

Strong demand and a poor ﬁshery in 2009 have pushed prices up 50 per cent in four years. Sockeye runs are based on a fouryear cycle. With 2010 also a poor year, don’t expect lower prices soon.

Ambergris

$5,000-$10,000/lb Ambergris, also known as the coagulated slurry of sperm whale feces, is nothing to turn your nose up at, though that might be your ﬁrst instinct. Coveted by the perfume industry, ambergris is only found when washed ashore. Scientists believe only one per cent of the estimated 350,000 worldwide sperm whale population excrete it—how it is made within the whale’s gut has only been hypothesized.

All prices in Canadian $ and are current for March 2014 (or most recent available). Inspired by Lapham’s Quarterly. Sources: Bloomberg, Christian Science Monitor, International House of Caviar, CBC News, SaltWorks.us, LiveScience.com, TIME Magazine, National Geographic Magazine, and Wikipedia.

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Bluefin tuna

$8,920/kg (wholesale) The flesh of the critically endangered southern bluefin tuna (Thunnus maccoyii) is considered by Japanese and Western chefs to be the best raw fish to eat in the world, and is much in demand for use in sushi and sashimi. A 222-kilogram bluefin was sold at wholesale auction in Tokyo last year for $1.98 million. The ultimate retail price is unknown.

Best languages to study The ties between Sauder and Asia are strong. But what languages are best to learn if you aim to work in Europe? The six best languages to study for graduate jobs in Europe, according to The Telegraph.

3 Spanish

1 German

2 French

Germany is Europe’s largest economy with a GDP of more than $3.6 trillion.

Highly sought after by British and German ﬁrms.

Sought after not because of the Spanish market— which is in deep trouble—but because of the fast-growing Spanish-speaking markets of Latin America and the US.

4 Mandarin The official language of the world’s most populous and economically dynamic nation.

6 Arabic

5 Polish Poland is the largest consumer market of the new EU member states and is the only EU country to avoid recession since 2007. British and German ﬁrms have invested heavily in Poland.

British ﬁrms have strong ties to the Gulf Arab states, and business investment ﬂows both ways.

Notable business books of 2013 Most years, a scan of “best business books” lists brings up surprising consensus. Not so in 2013. While Lean In appeared on most lists, the field was otherwise open. Viewpoints compared six lists and identified these books as six of the most notable business books of the year. Lean In: Women, Work, and the Will to Lead Sheryl Sandberg (with Nell Scovell) Facebook COO Sheryl Sandberg is blunt: “A truly equal world would be one where women ran half our countries and companies and men ran half our homes. ... If we tapped the entire pool of human resources and talent, our collective performance would improve.” Some critics note Sandberg’s lack of rigorous analysis, though others note her anecdotal approach is what makes the book appealing.

The Billionaire’s Apprentice Anita Raghavan The story of the rise of Raj Rajaratnam and Rajat Gupta to the heights of global business (at Galleon Group hedge fund and McKinsey & Company management consultancy respectively) and their fall in an insider trading scandal that left both in prison. It is a tale of unnecessary, even puzzling, greed against a background of the rise of the ﬁrst Indian leaders in Wall Street ﬁnance and top management consulting.

Sources: Forbes, Business Insider, Inc., The New York Times, Information Week, The Economist, The Globe and Mail, Canadian Business, Financial Times, Slate, Salon, and Amazon.ca.

Decisive: How to Make Better Choices in Life and Work Chip and Dan Heath Research in psychology has revealed that our decisions are disrupted by an array of biases and irrationalities: We’re overconﬁdent. We seek out information that supports us and downplay information that doesn’t. We get distracted. The Heaths study the decision-making literature to come up with a four-step process that counteracts the biases. David and Goliath Malcolm Gladwell Gladwell continues his “Isn’t this just amazing?” ouevre with this look at how seeming disadvantages are actually advantages—and vice versa. Gladwell always tells a good tale and, as long as the reader does not examine too closely the underlying data, is often thought-provoking.

Hatching Twitter: A True Story of Money, Power, Friendship and Betrayal Nick Bilton Not notable for new, insightful business thinking, but certainly notable for the dish about Twitter’s founders Evan Williams, Jack Dorsey, Noah Glass and Christopher Stone. In Bilton’s account, Twitter has been a success not because of its founders, but in spite of them. Save it for down-time on a ﬂight. The Everything Store Brad Stone Jeff Bezos might have started by selling books through the mail, but he has far bigger ideas now. Stone’s book caused consternation at Amazon HQ (and in the Bezos household) and won the FT and McKinsey Business Book of the Year Award. As The Economist notes “so it can’t be all bad.” VIEWPOINTS SPRING/SUMMER 2014

SAUDER FACULTY INSIDER INFORMATION

Sauder hosts 2014 P3 Student Summit The Sauder School of Business and the Canadian Council for Public-Private Partnerships co-hosted the 2014 P3 Student Summit at Sauder on March 6 and 7. “British Columbia is widely regarded as a leader within Canada for the development of an ambitious and rigorous P3 program,” said Sauder Dean Robert Helsley. The summit attracted students and industry professionals from across Western Canada to share the latest thinking within publicprivate partnerships (P3). Over the last 20 years, P3s have emerged as one of the best ways to tackle the global “infrastructure deﬁcit,” for example congested roads and run-down airports. Canada boasts 2,006 projects. New graduates entering the ﬁeld are key to ensuring the success of these and future ventures. “Between the Sauder School of Business and UBC’s Department of Civil Engineering, this university is one of the largest academic centres in Canada for studying and teaching the topic of P3s,” said Helsley. Several initiatives developed to address this need were highlighted at the summit. ■

Sauder’s Real Estate Division and the Appraisal Institute of Canada renew partnership On January 29, Sauder’s Real Estate Division and the Appraisal Institute of Canada (AIC) announced the renewal of a ﬁve-year Memorandum of Understanding. “This unique, synergistic connection has grown into one of Canada’s most successful business/academic partnerships,” says Dean Robert Helsley. The renewed agreement will support the AIC Program of Professional Studies, aimed at real estate valuation professionals who are studying towards the Accredited Appraiser Canadian Institute and Canadian Residential Appraiser designations. ■

New health-care focused research centre launches Sauder’s new Centre for Operations Research and Analytics in Health (CORAH) is seeking a cure to health care inefficiencies. The centre will draw on advanced analytical modelling expertise at the school to improve health care decision-making. “CORAH aims to orchestrate and sustain Sauder’s considerable research and data-driven analytical Steven Shechter approaches to improving health care processes,” says Associate Professor Steven Shechter, director of CORAH. By bringing together graduate students, post-docs, visiting scholars and faculty working in this area, as well as health care practitioners, CORAH will be a dynamic hub for collaboration, resources and ideas. ■

Sauder PhD candidate receives prestigious scholarship Sauder PhD candidate Juan Serpa, of Sauder's Operations and Logistics Division, was recently awarded the Codère SCMA Doctoral Thesis Scholarship ($5,000) for his research on supply chain productivity and risk management. Supply Chain Management Association of Canada, the country’s largest association for supply chain management professionals, grants the scholarship to a Canadian doctoral student who contributes most to the profession. Serpa credits the scholarship to the support of his supervisor, Associate Professor Harish Krishnan. “I am extremely happy and this gives me a last strong push to ﬁnish my PhD in the best way possible,” Serpa says. ■

MIS Division celebrated at leading international conference Sauder’s Management Information Systems (MIS) Division was in the spotlight at the International Conference on Information Systems (ICIS) in Milan in December. At the event, the Best Research-in-Progress Award went to Associate Professor Hasan Cavusoglu. Professor Izak Benbasat was applauded as the most published author in the ﬁeld’s premier journal MIS Quarterly. And, Associate Professor Ron Cenfetelli picked up an award for his work with MIS Quarterly, named Outstanding Associate Editor of 2013 from among 37 editors on the board. “The signiﬁcance of these achievements speaks to the research reputation of the MIS Division relative to peer groups throughout the world,” says Cenfetelli, who chairs the division. ■

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Ron Cenfetelli

Sauder’s Centre for Operations Excellence up for UPS George D. Smith Prize Sauder’s Centre for Operations Excellence (COE) is one of three finalists for the UPS George D. Smith Prize, a prestigious award for universities providing training in operations research, management science, or analytics. The research centre is being recognized for its work administering the Master of Management in Operations Research Program. “This award is a testament to the world-class quality of the COE’s research, teaching and engagement with industry,” says Professor Harish Krishnan, director of the COE. “We are dedicated to advancing the field of operations research and proud that our efforts have been recognized by being chosen as a finalist for this prestigious prize.” ■

Sauder prof ranks #1 for publishing in top marketing journals Senior Associate Dean and Marketing Professor Darren Dahl ranks number one in the world for publications in premier marketing journals, including the Journal of Consumer Research, Journal of Marketing Research and Marketing Science. The American Marketing Darren Dahl

Association DocSIG (a group aimed at informing marketing doctoral students)

Sauder partners with renowned French university Sauder has partnered with French university Sciences Po (L’Institut d’études politiques de Paris) to offer UBC’s ﬁrst international dual Bachelor of Commerce/Bachelor of Arts degree. Beginning in September 2014, students who pursue the fouryear program will study two years at each institution and earn degrees from both. “This partnership with Sciences Po will give students immersive experiences equipping them for careers in the global marketplace,” says Brian Bemmels, Senior Associate Dean, Academic Programs. ■

compiled the annual top 50 list for author productivity in internationally renowned publications, from 2009 to 2013. Dahl topped with 14 publications. Also making the AMA marketing research ranking Katherine White

were Associate Professors

Katherine White and Rui (Juliet) Zhu, who tied in the ranking at 18, with eight publications each. ■

Graduates from the MBA and IMBA classes of 2011, 2012 and 2013 connect at a Sauder alumni reception at the Fairmont Peace Hotel in Shanghai on November 4, 2013.

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SAUDER FACULTY INSIDER INFORMATION

New faculty members Sauder is pleased to welcome ﬁve new members to the faculty.

Vanessa Alviarez

Vanessa Alviarez, Assistant Professor in the Strategy & Business Economics Division. Alviarez recently received her PhD in Economics from the University of Michigan, Ann Arbor. Her job market paper is entitled “Multinational Production and Comparative Advantage.” Alviarez’ research ﬁelds include international trade and international ﬁnance. ■

Jennifer Berdahl, Montalbano Professor in Leadership Studies: Women and Diversity. Berdahl received her PhD in Social, Organizational and Industrial Psychology from the University of Illinois at Urbana-Champaign. Her doctorial dissertation is entitled “Perception, Power, and Performance in Small Groups: Jennifer Berdahl Insights from a Computational Model.” Berdahl’s research interests have focused on workplace mistreatment as a means of establishing, maintaining and reinforcing social inequalities at work. ■

So-Eun Park, Assistant Professor in the Marketing and Behavioural Science Division. Park recently received her PhD in Marketing in Business Administration from University of California, Berkeley. Her job market paper is entitled “Consumer Surplus Moderated Price Competition.” Park’s research interests include So-Eun Park empirical modeling of markets, behavioural economics, social inﬂuence, and competitive marketing strategy. ■

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Jack Favilukis

Georgios Skoulakis

Jack Favilukis, Assistant Professor in the Finance Division. Favilukis received his PhD in Finance in 2007 from the NYU Stern School of Business. Favilukis’ research interests include consumption and production based asset pricing , incomplete markets, heterogeneity and inequality, and limited participation and participation costs. ■

Georgios Skoulakis, Assistant Professor in the Finance Division. Skoulakis received a PhD in Finance from Northwestern University and a PhD in Statistics from the University of North Carolina, Chapel Hill. Skoulakis’ research interests include portfolio choice, asset pricing, computational economics, and econometrics. ■

Sauder signs agreement with leading Kenyan business school Sauder and Strathmore Business School in Nairobi, Kenya signed a Memorandum of Understanding on February 5 aimed at increasing collaboration between the schools and upping Sauder’s activities in Africa. Thomas Ross, Senior Associate Dean, Special Projects at Sauder and George Njenga, Dean of the Strathmore Business School signed the ﬁve-year cooperation agreement, which will cover several areas of collaboration, including an MBA student exchange set to start in 2015, visiting professorships and interchange of faculty. ■

UBC appoints new Chancellor On April 14, 2014 the University of British Columbia Board of Governors appointed business and community leader, and double alumnus Lindsay Gordon to become the university’s 18th Chancellor, which became effective July 1, 2014. The Chancellor is the ceremonial head of the university, conferring all degrees and serving on both the Senate, responsible

The 2008 BC University Amendment Act changed the way university chancellors are selected. Following a comprehensive nomination, search and review process, the position is now appointed by the Board of Governors upon nomination by the Alumni Association Board of Directors, and after consultation with the Council of Senates. Judy Rogers, chair of the UBC Alumni Association Board and of

for the university’s academic governance, and the Board of

the search committee, made the ﬁnal recommendation to the Board

Governors, responsible for managing the property, revenue,

of Governors. “Heart, wisdom, experience, and commitment—

and business affairs of the university. The position of university

Lindsay has so much to offer UBC,” she said.

chancellor is a three-year term, with the possibility of one consecutive reappointment. “In Lindsay Gordon, UBC has found a passionate advocate,” said Board chair John Montalbano. “His vast and diverse expertise will bring a global lens to the university.”

Gordon replaces Sarah Morgan-Silvester who stepped down on June 30, 2014 after exemplary service to the university since 2008. “I have deeply valued Sarah’s wise counsel and principled guidance during our Board deliberations,” said UBC President and

Gordon, BA Economics (1973), MBA (1976), has remained

Vice-Chancellor Stephen Toope. “I am sure my successor Arvind

closely associated with UBC. He is co-chair of the start an evolution

Gupta will forge with Lindsay Gordon and John Montalbano the

campaign, Canada’s largest fundraising and alumni engagement

kind of bond that will sustain and strengthen UBC.”

effort, aiming to raise $1.5 billion by 2015 for students, research

In a Vancouver Sun interview, Gordon credited Morgan-Silvester

and community engagement, and to double the number of alumni

with helping to change the role of Chancellor from a ceremonial to

involved annually in the life of the university.

a professional position, working closely with the President and the

The recently retired President and CEO of HSBC Bank Canada

Chair of Governors. “She’s done an outstanding job,” said Gordon.

enjoyed a 25-year career with the bank, following 10 years in senior

“My goal is to do everything I can to continue UBC’s growth and

roles with Export Development Canada. He has served on the

success both in terms of a post-secondary school of learning and of

boards of numerous Canadian business and volunteer organizations.

research. I really am thrilled and honoured to succeed Sarah as the

“As an alumnus, I am particularly honoured to be the next Chancellor of UBC, one of the world’s leading universities, and to work with incoming president Arvind Gupta and his team,” said

new Chancellor. It’s a great responsibility and I’m looking forward to the challenge.” Gordon is a recipient of the 2010 B’nai Brith Canada Award of

Gordon. “Together we will continue to build on the university’s

Merit and the 2012 Queen Elizabeth II Diamond Jubilee Medal,

tradition of excellence in learning, citizenship and research, serving

awarded to outstanding Canadians. He is married to Elizabeth

the people of British Columbia, Canada and the world.”

Gordon and has four children. ■

“As an alumnus, I am particularly honoured to be the next Chancellor of UBC, one of the world’s leading universities, and to work with incoming president Arvind Gupta and his team.” - Lindsay Gordon, Chancellor, UBC

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CLASS NOTES

Dear alumni, From Vancouver to Hong Kong and from London to Karachi, the Sauder community includes more than 36,000 alumni in 75 countries. Each of our alumni holds a piece of the school’s history as well as its future. The connections that hold our community together are our school’s most meaningful strength. We want to hear from you! So tell us your story, share your news, and send us your photos. Whether you just got the job of your dreams or are still finding your way, took a trip around the world or have been enjoying the comforts of home, got married or became a parent—fill us in on your family and career, accomplishments and interests. We’ll print your news in the Class Notes section of Viewpoints Magazine, which is consistently ranked as one of the most popular segments of our publication. Through the Class Notes, you will share your story with your fellow alumni and current students, reconnect with old classmates, and stay connected as a vital part of the Sauder community. We’re looking forward to hearing from you!

Iain Wyder BCom 1966 Since 2006 I have been teaching and administrating in Chinese schools preparing students for entry into western universities. I have just completed an action research paper on our highly successful teaching model for economics and other content courses.

Viewpoints Magazine

1970s 1960s

Rick Baker BCom 1965 After holding a number of interesting positions in Toronto, Seattle and Vancouver, I found my calling in life, at age 60. In 2003, I founded Timely Medical Alternatives, Inc. to help Canadians on long surgical waiting lists to get immediate care in our network of US hospitals. 52

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In 2004, responding to many inquiries from uninsured Americans, I founded North American Surgery Inc. We send our American clients to the same network of hospitals, for deeply discounted pricing on surgeries. This year, the rollout of Obamacare had the unintended consequence of causing millions of Americans to lose their health care insurance coverage. Many of these people now rely on our organization to help them to get affordable surgery. I feel blessed that my biggest competitor in both the US and in Canada is the government. As in most areas of service, the private sector will almost always trump the government.

SHARE YOUR NEWS Class Notes are easier than ever to submit. Simply ﬁll out the online form at www.sauder.ubc. ca/alumni/classnotes

Lyall Knott BCom 1971 Lyall D. Knott, Q.C., has been appointed as the Chair of the Canadian Forces Liaison Council for British Columbia. For over 30 years the Council’s work has directly contributed to a professional and capable Canadian Armed Forces by promoting awareness of the Reserves to employers and educators across Canada.

Lyall Knott is a senior partner at Clark Wilson LLP and serves as the Honorary Captain, Canadian Fleet Paciﬁc, Royal Canadian Navy.

Victoria Sutherland MSc Business Admin 1975 Working at the Canadian Embassy in Hanoi, Vietnam until September, then heading back to Canada the long way.

Dae Ryun Chang BCom 1979 I am entering my 28th year as Professor of Marketing at Yonsei School of Business in Seoul, South Korea. I assumed that position after finishing my doctorate in Business Administration at Harvard Business School. I recently wrote and directed a short film called I, Profess with indie filmmakers residing in South Korea.

1980s

are friendly, helpful and love dogs! I am now starting up my new management consulting business and loving being an entrepreneur—this after a corporate life lasting as long as I can remember. Enjoying life...happy and closer to the kids!

Frederick Wysocki BCom 1981 Published The Start-up. Available on Amazon.ca at www.amazon.ca/dp/ B00IUP6TVQ.

Barbara Hill MBA 1983 My husband was transferred to run the head office of a global business in the USA, so we moved from the English countryside (via travelling the EU) to New York City! Big changes and wonderful adventures. Living in Upper West Side between the beautiful parks—Central and Riverside. New Yorkers

Veronica Wargo BCom 1987 Our daughter got married on June 13, 2013 to Jason Olson. They are both attending ASU Polytech and are in their second year. Competed in Centennial Dance with my student and partner Billy Lacy at Adult Nationals, April 2013, which were held in Scottsdale, AZ. We came in second and were thrilled as we had only danced together for 2.5 months. Looking forward to having more time to prepare for a free dance for the next competition. Never thought at 52 I would still be skating. Keep on dreaming!

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CLASS NOTES

1990s Anjili Bahadoorsingh BCom 1990 I left the national law ﬁrm of Heenan Blaikie last June after 15 years. After taking a few months off, I joined Terra Law Corporation—a new boutique real estate, banking and corporate/commercial law ﬁrm in Vancouver.

Eugen Klein BCom 1997 Eugen Klein was privileged to be named to the latest crop of Business in Vancouver’s “Forty under 40” winners for 2013/14. Now that Eugen Klein has completed his term as the youngest-ever president in the 93-year history of the Real Estate Board of Greater Vancouver (REBGV), he has time to refocus his attention on his 15-broker Klein Group, Royal LePage City Centre brokerage. Klein Group, Royal LePage City Centre specializes in commercial, project marketing and residential real estate services. With the completion of his ICD.D designation from the Institute of Corporate Directors in 2012, Eugen is furthering his involvement in new directorship opportunities in the public and private sector, including the arts.

Stephen Ward MBA 1993 In the summer of 2013 I was very lucky to be able to use up 50 days of accumulated vacation! Among other things, I cycled along the Rhine River from its source in the Swiss Alps to Basel, where it enters Germany. The photo is at the end of the journey by Basel station. Wish I could have 50 days off every year!

Charles received his PhD (Finance) from Simon Fraser University Beedie School of Business in December 2013. Charles wishes to thank Dr. Ron Giammarino for everything he has done in support of his studies in finance over the years. The title of Charles’ PhD Dissertation is Housing Finance Innovation and How Canadians May Evaluate Homeownership as a Critical Asset Allocation. The research findings conclude that it is better to rent than it is to own a home in current market conditions in Vancouver and Toronto. This conclusion is based on portfolio theory that includes housing as a separate asset class in a mix that includes stocks and bonds. The challenge to even get to test the “Is it better to rent versus own” hypothesis draws from Charles’ initial research on the evolution of housing finance in Canada since 1900, to a current regime where Canada enjoys a complete mortgage market that is both flexible and liberal for housing to be held by an investor in a portfolio that includes stocks and bonds. The stylized model proves that it is optimal to own a diversified pool of stocks and bonds and that housing is sub-optimal for any investor that will be a homeowner for only a short holding period, even when property maintenance is deferred and an apartment condominium rather than a single detached home is purchased. The probability of suffering an economic loss from owning a home in Vancouver is over 90 per cent over short hold periods. The situation is somewhat better in Toronto. Charles is beginning work with a prominent co-author on a book that will explore the importance of migration to financial security. The book will be published in 2015.

SHARE YOUR NEWS Charles King MBA 1998 (Charlie King (2010), Sophie King (UBC BA 1990 and UBC MA 1996); Angeliki King (2011) and Charles King (BA UBC 1986 and MBA Finance UBC 1998))

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Class Notes are easier than ever to submit. Simply ﬁll out the online form at www.sauder.ubc. ca/alumni/classnotes

2000s

Spanish and enjoying the community here. Will be back to the States in 2015. Daniel Tan BCom 2003 After a decade as an entrepreneur, I have created a blog to share my experiences and tips for those who are in business for themselves, or those thinking about starting one. While it’s exciting, starting out on your own is not as easy as it seems! Free insider’s tips, advice and thoughts at businessstartupwisdom.com. There are some things you can learn in business school, others you learn along the way. All the best!

James D. Kondopulos BCom 2000 James D. Kondopulos, LLB 2003, was recently named a winner in Lexpert’s “Rising Stars: Leading Lawyers Under 40” competition. This means he is now recognized as one of Canada’s leading lawyers under 40. James has a partnership interest in Vancouver-based employment and labour law boutique, Roper Greyell LLP. His professional biography can be viewed at ropergreyell.com.

John Lefebvre MBA 2002 I left SolarCity as Vice President of Sales and Business Development to join Suntech Power Holdings as President in 2011. After SolarCity went public in 2012, I left Suntech to start my own international consulting ﬁrm, Cynergy Global LLC. We are currently based in Mexico (San Miguel de Allende) working with clients in the US, Canada, Mexico, Peru and Asia. Life in Mexico is grand! We are all becoming more ﬂuent in

Clifford Young BCom 2003 I am excited to advise that my company has been a great success. I founded Anatomic Iron Steel Detailing after graduating from Sauder School of Business (then UBC Commerce). In the past 11 years, we have grown to become one of the leading structural steel detailing ﬁrms in North America. We now have over 80 employees, and offices in Vancouver, Krakow (Poland), Maine (USA), and Wellington (New Zealand). We have been featured in many leading construction magazines, and have worked on some of the most complex steel projects in the USA, such as the recently completed Denver International Airport. I accredit our success to the time management and multitasking expertise that I learned during my studies at UBC Commerce.

(Yunus Can, our boy and Aylin, our girl) in September 2012, and celebrated their birthday in Vancouver this past summer (pictured in Stanley Park), and also commemorating the place where Aliye and I met 13 years ago. She has just started her PhD in psychology, and I have begun a master in law. After Vancouver we moved to Amsterdam, and now we live in Germany—next stop Turkey? Matthew Burns MBA 2006 In 2013 my family moved into a new home in Calgary, and in March of that year my wife Becki and I had a wonderful honeymoon in Costa Rica. It also marked the second year in my role as a regional major gifts officer for the University of Alberta focused on the Greater Toronto Area. In February 2014 I moved to a similar role with the U of A with the Faculty of Medicine and Dentistry.

Yizhuo Cui BCom 2006 Year of Europe! Working in Germany and spent my time in European life!!! Awesome experience!!!

Uli Schulze Suedhoff MBA 2004 My lovely wife Aliye and I had twins VIEWPOINTS SPRING/SUMMER 2014

CLASS NOTES this is the right decision for the right reasons. Jaehyun (Jay) Lim BCom 2009 Working for TONGYANG Securities Inc. in HR department in Seoul, South Korea.

headquartered in the San Francisco Bay Area. I have held this position for the past 1.5 years and look forward to continuing to expand my skill set under the guidance of Calix’s General Counsel. I am an active member of the State Bar of California and reside in San Francisco. I enjoy biking and supporting the Fighting Illini. I would encourage those Sauder students interested in leveraging their BCom degrees to pursue the practice of law in the United States to reach out to me via LinkedIn.

Warren Tardif BCom 2008 Last year work kept me traveling, kept me moving, and kept me going around the world. I got my own company off the ground, I was a speaker at a Social Media Convention in the Caribbean, and I ran the Seattle Marathon in a little over four hours. 2013 was a great year! I’m very excited about 2014! Manav Chaudhary MBA 2008 Having spent the last six years in management consulting (mostly in health care) in Canada, my wife and I decided to relocate to India—our home country—late last year. In 2012, we were blessed with baby girl. She is now 20 months old. We feel this is the right decision for her to grow in her formative years closer to our roots and tradition. We are exploring options on the professional side but at home things are fairly well settled. We have our parents and extended families from the same town. Everybody lives pretty close by, and the city is not that crowded compared to some other bigger cities in India. This is a big transition in our lives and we are committed to make it a successful one. My wife is a dentist and has already started working at a clinic locally. I am setting up my own consulting services team locally in health care space and hoping to secure at least two projects in the next six months. Also, I will be looking to commit some time to social ventures and NGOs. Despite all the issues and challenges, we are happy with the decision. We feel

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Adam Segal MM 2009 Got married to my sweetheart Gillian in the summer of 2013 at the Four Seasons Hotel Vancouver! Tony Valente BCom 2004, MBA 2009 I can’t believe it has already been ﬁve years since my MBA graduation, and close to 10 since BCom! I have been busy gaining experience in project and risk management in multiple roles at BC Hydro. Outside of work I have been increasingly involved with community engagement in the City of North Vancouver. In the interest of providing new perspectives I have decided to run for City Council in 2014. Check out my website at tonyvalente.ca.

Sean Toth BCom 2009 After graduating from the Finance program at Sauder I obtained a Juris Doctor degree from the University of Illinois at UrbanaChampaign. While attending law school in the cornﬁelds of Illinois I was recruited back to the West Coast to be corporate counsel for Calix, Inc., publicly-traded telecommunications equipment supplier

Yuri Yoon MM 2009 Since graduating from Sauder, I’ve spent ﬁve years travelling and teaching in Asia.

I’m currently teaching in South Korea at BIS Canada (www.biscanada.org). BIS Canada was founded in 2006 by CEO Dong Young Seo, and the school follows the BC curriculum for K-12. Our students continually outperformed the BC provincial average in all subjects, and we will graduate our ﬁrst class in June. This was my ﬁrst time visiting South Korea, and it was wonderful to connect with my family and learn about local culture. Special thanks to my administrative staff Adam Reid, Larry Simpson, Insil Lee and athletic director Mark Vatsis: your guidance and patience has made all the difference. Finally, thank you to Sauder for their continued support. I am grateful to have had the opportunity to help students reach their educational goals, just like the professors and alumni at Sauder helped me reach mine.

2010 +

Jennifer Nguyen BCom 2010 With much self-determination and great support from family and friends, I have successfully been selected as a Regional Finalist in Miss Universe Canada 2014 Pageant! The winner of the title will represent Canada in Miss Universe later this year. This is special to me because I want to be an example and inspire other women that they too can achieve anything

they wish to pursue. Specifically, I want to empower and motivate women in business and immigrant daughters to succeed in Canada. For more information about my journey, please visit my website at jens-epicjourney.com/about.html. Nachiketa Sinha EMBA 2010 Drawing on the ancient wisdom of the East and years of experience working in Western psychiatry, Dr. Nachiketa Sinha shares life affirming stories and skills in his new book Empowered and Strong—Navigating Safely Through the Storms of Life. Dr. Sinha’s book is written to help everyday people break the shackles of life and feel empowered to take back the reigns and become as thoroughly happy as the UN says we are. Empowered and Strong has been tried and tested in Dr. Sinha’s clinical practice in both England and Canada, borne out of requests by patients and colleagues as a result of the effectiveness of these teachings. Transcending the boundaries between East and West, Empowered and Strong offers a global perspective on issues that affect us all. This is an attempt to reset those rules and eliminate boundaries that hold us in. Dr. Sinha is of East Indian origin and considers himself a citizen of the world. He is a consultant psychiatrist in Canada, and has been practicing psychiatry for more than 10 years. The book is available for order from FriesenPress.com/bookstore, Amazon, Chapters and most major book retailers. The eBook is available for iTunes, Kobo and Kindle. Paul Fischer BCom 2011 Bernard Health, a health care financial planning firm in Nashville, USA, has hired Paul Fischer to the software and service team. Fischer will use his experience in software as a service to manage Bernard Health’s internal systems and online benefits administration platform, BerniePortal. Prior to joining Bernard Health, Fischer served as an independent

Salesforce.com contractor and a sales operations analyst with InsideSales.com, a company he helped grow to $10 million in revenue.

Sophia Kebede BCom 2012 My business management skills gained through my education at Sauder and interest in Peru led me to become the Micro-Enterprise Development Advisor with the Canadian NGO Cuso International and Peruvian NGO Asociacion Kallpa in 2013. Dedicated to development and capacity building to reduce poverty around the world, my role focused on supporting youth develop their own business through its Youth Employment Centre. In this way youth were able expand their ability to generate income and be an active member in their community. I spent 12 incredible months in Cusco-Peru, giving the tools and resources to youth, organizing their business plans, and offering seed funding through competitions. Meanwhile I was able to learn Spanish and enjoy a new culture. Currently I am established in Vancouver, focused on continuing my professional and personal work in social entrepreneurship, community and youth development. I am very excited for the new opportunities and challenges ahead of me!

SHARE YOUR NEWS Class Notes are easier than ever to submit. Simply ﬁll out the online form at www.sauder.ubc. ca/alumni/classnotes

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CLASS NOTES

Reunions MBA 2008 — 5th Reunion An intimate group of MBA 2008 alumni met to reminisce at the Irish Heather in Vancouver on October 24, 2013. The reunion was organized with the enthusiastic support of Chris Kantowicz and Joanna Buczkowska, MBA 2008 graduates who both work at the Sauder School’s ISIS Research Centre. Many of those in attendance had not seen each other since graduation, and were happy to reconnect. Adam Naamani DULE 2012 After ﬁnishing my degree at UBC in urban land economics, including studies in real estate, I taught myself how to code, built a prototype, then recruit an engineer and real estate developer, and now have a company called Resider.ca that helps homebuyers ﬁnd the place of their dreams online. Using what I learned in my studies, I wanted a way to put that information in a buyer’s hands in the easiest way possible. The vision is to take the Canadian real estate industry out of the dark ages, and into the digital age.

Become a Sauder School of Business alumni contact Be a contact for the Sauder School of Business and fellow alumni in your city, country or region. Help counsel prospective students, advise new graduates, welcome summer interns and arrange alumni events. To volunteer, contact us today!

We can be reached at: Tel: 604-822-6801 Fax: 604-822-0592 e-mail: alumni@sauder.ubc.ca We always appreciate your feedback on events and programs in support of alumni activities.

SPRING/SUMMER 2014 VIEWPOINTS

Student Societies Presidents Reunion The ﬁrst ever reunion of former and current presidents of Sauder student societies (Commerce Undergraduate Society, Master of Management and MBA) took place on November 21, 2013 at the UBC Golf Club. The gathering of more than 40 attendees included senior and young alumni (ranging from the Classes of 1956 to 2013), senior managements and students. Sauder Dean Robert Helsley, Grosvenor Professor of Cities, Business Economics and Public Policy, provided an update on the Sauder School and its strategy over the coming years. Current presidents of the student societies presented on their activities and how these groups have evolved since their inception. Everyone present agreed that the event was the start of a great tradition and expressed hope that the reunion becomes a regular event.

Sauder Alumni Global Network Gain insight into fellow members of the alumni community

Marica Rizzo Degree and Grad Year: BCom 2010 (Marketing) Current home city: Vancouver, BC Sauder volunteer role: Coach for the JDC West team Professional ID: Content Strategist, Briteweb Business motto or philosophy: Take risks for what you think you might enjoy, you’ll never know if it might become your burning passion. In business today, it’s important to… I think in business, as with anything, it is so important to spend time knowing what it is that makes you happy, sad, frustrated, inspired, etc. Know what it takes for you to do your best work and create those conditions for yourself.

Biggest risk you’ve ever taken: Over a year and a half ago I made the decision to leave a job that I was good at to pursue my goal of living abroad and working on the ground in a developing country. I joined Wedu, a start-up social enterprise in Southeast Asia. I designed a mentorship and leadership development program for young women who come from poverty. It’s been incredible to support my mentee from Cambodia—she has changed my life.

Most valuable thing learned since graduation: The lesson is to be truly generous with your time and talent. In doing so, you form genuine and lasting relationships that will go the distance.

Greatest achievement to date: While working with Wedu, I had the opportunity to speak at the Women Deliver conference in Kuala Lumpur, Malaysia. We were named “Top Global Solution for Women.”

Eureka moment: The first came during my study abroad in Italy. It was my first time living overseas and I fell in love with immersion in new cultures. The second was when I watched my first TED Talk. It was by Acumen Founder and CEO, Jacqueline Novogratz. It was my first introduction to the concept of mobilizing capital to change the world, and I was hooked.

Alter ego: Hermione Granger. I admire her bravery, strong moral compass and intelligence.

Want to be profiled in our Alumni in Focus feature? Please contact us at alumni@sauder. ubc.ca and we’ll be in touch.

Greatest extravagance: Notebooks. I am absolutely obsessed with notebooks. Person you admire most and why (living or historical ﬁgure): Jacqueline Novogratz, Founder and CEO of Acumen. She lives by her values and leads audaciously to bring positive change to the world. Last book you couldn’t put down: I’m going to list three! The Creative Habit by Twyla Tharp, On Writing Well by William Zinsser, and The Art of Possibility by Benjamin Zander.

Trait you admire most in others: I admire those who align their actions to their values and intentions. Talent you would most like to have: I wish I could sing. I love it but I’m not good at it. Most listened to: I used to wake up every Sunday morning to my Dad’s classic rock and the smell of pancakes. That really shaped my love for artists like Paul Simon, The Travelling Wilburys, and Queen. Gadget of choice: I’m the least “gadgety” person ever. If I had to choose, it’d be my super portable MacBook Air. Your best-kept secret (What most people don’t know about you): While I can sometimes come across as being quiet, I actually love “making stuff up” and practice improv as much as I can! Favourite journey: Two years ago my ﬁancé and I hiked Mt. Kilimanjaro. It was such an incredible experience. Where will you be in 10 years? I know I will be working with an incredible team of talented and dedicated individuals and that our work will ultimately be having a positive impact on the lives of others.

THE SAUDER ALUMNI GLOBAL NETWORK DIRECTORY: Exclusively Yours! Login, update and publish your proﬁle to link with some of the world's best in business. www.sauderalumni.ca

VIEWPOINTS SPRING/SUMMER 2014

POINTS OF VIEW

Challenge your personal sense of diversity In my travels and conversations with alumni all over the world, I am constantly struck by the diversity of the Sauder network. Your fellow alumni come from a wide range of backgrounds, cultures and industries and have varied interests and orientations.

Sheila Biggers “The most powerful networks contain a collection of people who can be called upon for a range of reasons.”

SPRING/SUMMER 2014 VIEWPOINTS

YOU ARE PART OF A RICH NETWORK, which can be an important tool for you throughout your lifetime. This is because diverse networks promote creativity and innovation, mitigate groupthink and “blind spots,” and provide access to a range of people beyond one’s immediate realm. A simple way you can add diversity into your network is by exploring interests and passions outside of work. Research shows that shared activities, particularly if they are goal-related (such as playing on a team together, performing together or training for a marathon) deepen connections and create trust, which is vital to building personal and professional relationships. The most powerful networks contain a collection of people who can be called upon for a range of reasons. As important as most of us believe diversity is, seeking it in our own lives can be uncomfortable when we are faced with decisions that challenge our hidden assumptions and beliefs. Let me give you an example from my own experience: Some time ago, I hired a new employee on my team whom I was very excited about. I knew from the interview and her reference checks that she would bring a skill set to the team that was lacking. On her ﬁrst day of work, she shared with me that she had two disorders, and I went home that night very unsettled.

After speaking to my partner (whose practice includes employment law) and his children—who see the world through a yet-untainted lens—I realized that the employee I hired was going to challenge the entire team to expand our views related to the type of people we work with. By the time I went to bed that night, I was excited about work the next day. My new recruit did not let me down; her skills were exactly what the team needed and, because of the challenges I knew she faced every day, she brought the best out in me. The fact is she made me a better person. As a society, we are learning more and more the value of diversity, as you have read in this issue of Viewpoints. That being said, wise individuals throughout history always recognized the importance of diversity. To quote former US President, Theodore Roosevelt, “wide differences of opinion in matters of religious, political, and social belief must exist if conscience and intellect alike are not to be stunted, if there is to be room for healthy growth.” With that, let us all be mindful of seeking out what is different, being open to what challenges our biases, and come together to create new possibilities for the future. ■ Sheila Biggers ASSOCIATE DEAN, DEVELOPMENT AND ALUMNI ENGAGEMENT

Alumni Career Services Here for you every step of the way The Hari B. Varshney Business Career Centre offers lifelong career support to Sauder alumni. Whether you are looking to kick-start your career, make a career change, or take your career to the next level, we can help. Visit sauderalumnicareers.ca to access a wide range of tools and resources designed to help you achieve your career goals.

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