HIGHER
BUSINESS EDUCATION ANNUAL HIGHLIGHTS 08/09
LEADING BUSINESS SCHOOL
BLE
Rocky Mountain HIGH HIGHEST Standards HIGHLY Satisfied HIGH Road HIGHLY Regarded On a HIGH HIGH Risk HIGHEST Honour Aiming HIGH HIGH Touch HIGHLY Valued HIGHLY Interactive
OF
T
CONTENTS
Accounting Recognized Research Alberta BCom Analysis Relevant Research Alberta MBA Finance Rigorous Research Alberta PhD Strategy Reputation Executive Education
2 4 6 10 12 14 18 20 22 24 26 28
ALBERTA School of Business Administration Alumni Advisors Advancement Accountability
30 31 32 33 34 36
ANNUAL HIGHLIGHTS 2008/2009
ROCKY MOUNTAIN HIGH
E
stablished in 1965 under Dean Hu Harries, the five-day Rocky Mountain Business Seminar (RMBS) is the longest-running and largest student-organized business conference in Canada. This year marked 44 years for the conference which carries the tradition of bringing university students from across Canada together with top business leaders to discuss relevant business issues. Craig Jackson was Associate External for RMBS. Craig, an Accounting major, has now crossed the Rockies and is working in Vancouver for Davidson & Company LLP.
IN
LEADERS
CCOUNTING Craig Jackson ’09 BCom
T
he School of Business began as a Department of Accountancy in 1916 with six students. Today, the Department of Accounting and Management Information Systems is one of four highly-regarded departments in the School of Business.
HIGHEST STANDARDS Everyone profits from the strategic partnerships we have with the CAs, CGAs, and CMAs.
Certified Management Accountants (CMA)
The CMAs sponsor faculty, students, and alumni through a variety of initiatives. Examples include the Rocky Mountain Business Seminar, Jeux de Commerce ( JDC), graduation activities, the Business Exchange Association, and this year’s Business Alumni Association Golf Tournament. Our students appreciate their scholarships as well as the province-wide $10,000 Case Competition. The Dean’s BUS 201 Case Competition is supported financially by CMA and also through supplying judges.
Certified General Accountants (CGA)
The CGAs support the extremely popular CGA/MBA Forums. They also support an academic position (PhD Chair) and an undergraduate scholarship. CEO and Executive MBA alumnus John Carpenter makes time to attend some of these forums and has also been a forum speaker himself. We really appreciate the time he gives to the School.
Chartered Accountants of Alberta (ICAA)
The relationship with the ICAA goes back decades and we are fortunate to have them support the Winspear Chair, several student clubs, many scholarships, and a number of events and activities such as the Eric Geddes Lecture Series offered in both Edmonton and Calgary. Featured speakers included Professors Kyle Murray and Ujjayant Chakravorty, alumnus Harry Roberts, author Brian Nattress and journalist Gordon Pitts. The series will be expanding to Toronto in 2009/2010. The Institute has been recently run by Steve Glover, ’87 MBA and now Jane Halford, ’94 BCom (also on the BAA Board of Directors). At the 2009 ICAA Merit Awards in June, three of our professors were honoured. Congratulations to: Mike Gibbins, Lifetime Achievement Award; Karim Jamal, Fellow of the Chartered Accountants; and Tom Scott, Distinguished Service Award.
Tom Scott, Mike Gibbins, Karim Jamal 4
A HIGHER BUSINESS EDUCATION
RECOGNIZED RESE KILLAM ANNUAL PROFESSOR
ACADEMIC TENURE
Accounting Professor David Cooper received an Annual Professorship at the University of Alberta’s Celebration of Research and Innovation on March 19.
The School of Business is pleased to announce that Professors Yonghua Ji and Trish Reay were awarded tenure this year by the Faculty Evaluation Committee.
David’s contributions to the field of accounting are vast and prestigious with books, journal articles, book chapters, and citations. He has long been involved in editing academic journals and textbooks.
Yonghua’s area of study is the optimization, analysis, and economics of management information systems.
David’s course delivery, bringing social awareness to meet the students’ demand for relevance, brought him to the attention of the Said Business School, University of Oxford, to develop and teach a MBA course.
“Accounting is a meaningful and important academic discipline,” said David. “It’s a discipline that contributes to the knowledge of the world and knowledge of our social and economic world, which is so important to all of us.”
Trish divides her time between her two passions of health care innovation and family business entrepreneurship.
SSHRC GRANTS
A stellar year for the School of Business from Canada’s federal funding agency for university based research – SSHRC. Over $400,000 in grants were awarded to:
ACCOUNTING AND ETHICS
– Karim Jamal Does Reliance on SEC Cases Distort our Understanding of Fraud and its Consequences?
RCH
INTERNATIONAL BANKING
– Rasmus Fatum Intraday Studies of Central Bank Reserve and Intervention Transactions
CLIMATE CHANGE
– Andrew Leach Climate Change Policy with Uncertain Energy Production Decisions
RETAILING DECISION AND IMPACT – Yuanfang Lin
The Contact Decision of Gasoline Stations and its Impact on Retail Product-Service-Price Competition at the Local Markets: Theory and Empirical Analysis
FAMILY FIRM STRATEGIES
– Jennifer Jennings Negotiating Control Changes: An Embeddedness Perspective on the Strategies of Professional Managers in Family Firms
ENERGY ALLOCATION
– Ujjayant Chakravorty Resource Scarcity, Environment Regulation and the Allocation of Energy
A LEADING BUSINESS SCHOOL
5
HIGHly Satisfied Jared Mackey was one of
603 Bachelor of Commerce students who
convocated in 2008/2009 with Jared receiving the Dr. Hu Harries Medal in Business for obtaining the highest academic standing. Jared earned a perfect 4.0 grade point average (GPA) over the final two years of his degree through “hard work and determination” he shares. Jared is continuing his education in law in Toronto.
Jared graduated with a Finance major and Business Economics and Law minor,
17
specializations
two of wide-ranging available to students. The School of Business is one of the only schools in Canada to offer a Business Economics and Law specialization, a favourite of students who plan to pursue their law degree. Business Economics and Law continued to be the School’s fourth most popular specialization this year with 137 students after the big top three of Accounting (731), Finance (461), and Marketing (267). Student satisfaction remains high. The School continues to conduct an annual
97.1%
satisfied
independant survey of students are with their education - 88.3% would recommend the program to a friend.
BEST AND BRIGHTEST
The Alberta BCom continues to attract the best and brightest who in turn inspire and ignite each other and professors alike. Of the 777 admissions for September 2009, 359 had
first
class standings of a 3.5 and above (GPA).
There are now 2,066 unique, energetic, and ambitious students spanning three years of programming. In addition to the BCom General degree, other degree options include BCom Bilingual, BCom After Degree, BCom Cooperative Education, and BCom Honours in Accounting, Finance, and Management Science. Our 777 first-year business students were again divided into groups of 70 and remain together for all six required first-year business courses and related extra-curricular activities including the hotly contested Cohort Cup.
Jared Mackey ‘09 BCom 6
A HIGHER BUSINESS EDUCATION
LBERTA BCOM A CASE FOR COMPETITION
A favourite first-year course continues to be Business 201, taught by Dean Mike Percy, which focuses on business plan competitions from the get-go. A new Competitions course was also introduced this year and very well received. Opportunity to compete with the country and continent’s best business students is then an incentive and a reward. The School of Business hosted the largest business school competition in Canada in 2009 – JDC West – welcoming
608
competitors . The Alberta School of Business not only won nine team trophies in a host of disciplines including gold in the inaugural “nonprofit” case but was awarded the overall School of the Year.
Our students also continued to be national leaders in both Five Days for the Homeless and Chillin’ for Charity events. Five Days for the Homeless, founded by our students, went national last year. This year more than 80 students from 16 different universities across the country participated raising $173,000. This is the first year Chillin’ for Charity went national with 13 schools participating. The Alberta School of Business students raised $71,000 for the United Way.
COOPERATIVE EDUCATION
The Alberta School of Business was the first university in western Canada to be asked to participate in Molson’s National Mentorship Program. Two students were mentored by executives from Molson’s who then supported the business planning they did for the not-for-profit organizations they were placed with as part of their co-op program. Wan Ting Ji was with Edmonton’s Food Bank. Jessica Peck worked with HIV Edmonton. Also new this year for our Bachelor of Commerce Co-op Program was a partnership with AIESEC to secure international work experience. Mike Woronuk was placed with Castalia Communications in Peru where he is responsible for marketing BBC World in South America; Summer Curtis was placed with Citiport in China where she is responsible for marketing and generating business for an Internet-based travel information company. There were also five students in Hong Kong and the Phillipines as part of the School’s International Internship Program. Co-op placements for the summer of 2009 were at 188. This is only a 5 percent drop from the summer of 2008 and is considered a huge success given the general hiring climate across Canada.
GLOBAL AWARENESS
The demand and opportunity for international education and experience continues to grow. In 2008/2009, there were 56 outgoing exchange students to leading universities around the world, 59 incoming students, 321 enrolments in language
1,080 enrolments in international
courses, and business courses.
The three language-required majors in the program require three years of language study in addition to international coursework. Combined enrolment in the four majors – International Business, European Studies, East Asian Studies, and Latin American Studies totaled 142. Specific internationally-focused coursework is also mandatory in all these areas. Business Economics 444 – Competitive Dynamics and Cultural Differences: Family Business and Entrepreneurship in European Governance Systems - was offered for the first time this year, which included a combined undergrad/MBA study tour to Europe. Business Economics 488 – China Study Tour – was offered for the second time.
A LEADING BUSINESS SCHOOL
7
A CULTURE OF ENGAGEMENT
Leadership opportunities, community connections, and friends for life are part of what makes the Alberta BCom experience unique.
20 student clubs
The School hosts covering the areas of case competitions, community outreach, accounting, international, graduation, co-op, corporate social responsibility, human resources, investing, management information systems, operations management, marketing, and retailing. New this
Commerce, Energy and Environment Group. year was the launch of the
Accounting Club AIESEC Business and Beyond Club Business Exchange Association Business Graduation Council Business Students’ Association Club de Commerce Bilingue Cooperative Education Students’ Association
8
Eonfire Commerce Energy & Environment Group Formula SAE - Engineering and Business Students Human Resource Management Club Investors’ Club JDC West Management Information Systems Club Operations Management Club Rocky Mountain Business Seminar Streetlight U of A Marketing Association 5 Days for the Homeless
A HIGHER BUSINESS EDUCATION
THANKS, DEAN PERCY:
Hope everything is well with you.
Just wanted to let you know I landed a job here in Edmonton with a Logistics company called Exel. Exel is a contract logistics company affiliated with
DHL and under the DWPN group, the second largest employer in the world. I’m working as a Business Analyst, managing the metrics for reporting, monitoring, and improvement. The company has a very energetic, entrepreneurial work environment, and the job has excellent opportunities - I’m very happy with it. Having finally finished my degree and taken my first job, I was reflecting back on all the great things I was able to participate in at the U of A, and I wanted to say thanks for all the support you gave the Business Exchange Association,
It’s rare for a Dean to place such focus on student groups and to support them strongly. That type of
the BEA Travel Award Program, and all the student groups.
commitment to the students, including teaching Bus 201, made a great difference to the school experience and the opportunities available. Participating in international exchanges, working to build a student award program, competing at JDC, and meeting so many great people within the student clubs were the highlights of my U of A degree.
Thanks for helping to create that. Kieran Ryan, ’09 BCom
ACCOUNTING FINANCE
MARKETING
$10,000 Grand Prize Winner - CMA Board Governance Competition Winners – CFA Western Canadian Investment Research Challenge – Calgary; Tied fourth in NYC out of 97 schools in Americas Regional Final of the Global Investment Research Challenge; Winner – ICBC Finance Competition at Queen’s; and Top Canadian School out of 36 international teams at Rotman International Trading Competition in Toronto
HUMAN RESOURCES BUSINESS COMMUNITY
Silver - Excalibur Human Resources Tournament - Montréal School of the Year - Jeux du Commerce West - 650 Students, Five Provinces Founders - Five Days for the Homeless; Chillin’ for Charity
Final Four - McCombs International Business Challenge - Texas
A LEADING BUSINESS SCHOOL
9
HIGH ROAD
C
hina was the destination for three study tours this year for our undergraduate, MBA, and Executive MBA students.
Katie Worobec is an East Asian Studies major, which is one of four international specializations in the Bachelor of Commerce program. Katie participated in summer programs at the Chinese University of Hong Kong and Yonsei University in South Korea and began a year-long exchange at Meiji University in Japan in September 2009.
IN
LEADERS
NALYSIS Katie Worobec ’10 BCom Candidate
T
he Department of Marketing, Business Economics and Law is internationally known for relevant research and innovative programming in marketing, international business, natural resources, energy, and the environment.
HIGHLY Regarded The Canada Research Chairs program stands at the centre of a national strategy to make Canada one of the world’s top countries in research and development. The program, funded by the Government of Canada, invests $300 million per year to attract and retain some of the world’s most accomplished and promising minds. The School of Business was proud to learn that two of our professors were awarded Canada Research Chairs this year. NEW - REGULATION, SCARCITY AND
CLEAN ENERGY NEEDS
– Ujjayant Chakavorty
RENEWED – CONSUMER BEHAVIouR ON
THE INTERNET
- Gerald Häubl
“The Canada Research Chairs speak highly of the quality of Faculty the School is attracting. Ujjayant joins an impressive team of researchers and teachers in the energy and the environment fields who are drawing the best and brightest students in Alberta, Canada, and the world to study here. As well, our School of Retailing is one of the few
Retailing is a leading factor in any economy, and it is growing more diverse and deserves the recognition and research that professors such as Gerald devote to examining the nuances of consumer behaviours.” applied research centres for retailing in Canada.
Dean Mike Percy, Alberta School of Business
Gerald Häubl 12
A HIGHER BUSINESS EDUCATION
RELEVANT RESE
RCH
Public Policy Influence
Paper Competition winner was entitled “Ethanol Policy Review” by fourth-year student Tyler Dahlseide.
Kyle Murray, Director, School of Retailing; Joseph Doucet, Academic Director, Centre for Applied Business Research in Energy and the Environment (CABREE); and Executive Professor Helmut Mach, Director, Western Centre for Economic Research, along with Dean Mike Percy, are our most cited professors in the media and sought after panel members. Dissemination of relevant research findings and influencing public policy are key outcomes of the School’s twelve applied research centres.
Retailing
The School of Retailing with the support of 34 industry partners is continuing to expand both the academic team as well as the breadth of curriculum. Business students are now able to declare either majors or minors in Retailing with their Bachelor of Commerce degrees. Marketing 465, the School of Retailing Internship program, had 13 students employed during the summer of 2008 and 20 in the summer of 2009. A new stand-alone course – Retailing Marketing Management - is also offered in the MBA program. The School of Retailing’s signature event is the Henry Singer Award. In 2008, Wynne Powell, President and COO of London Drugs, was honoured and later
returned to the School as an Executive-in Residence. With 675 attendees, this was the best attended Henry Singer Award to date. In conjunction with the Award, the Retail Council of Canada held its Advisory Board meeting in Edmonton. This was the first time that the RCC held a board meeting outside of Toronto. The 2009 Henry Singer Award recipient is Chip Wilson of lululemon athletica.
ENERGY
The Centre for Applied Business Research in Energy and the Environment (CABREE) continues to focus on energy markets, electricity restructuring, and climate change issues. The team has expanded to eight academic members and welcomed Richard Dixon as the new Executive Director. CABREE significantly contributes to the training of students in the MBA Natural Resources, Energy and the Environment (NREE) specialization through applied research projects, internships, guest lectures, site visits, and international study tours. At the undergraduate level the School of Business is developing an undergraduate major/minor in NREE in collaboration with the Department of Economics and has also helped launch a new undergraduate energy club – Commerce Energy and Environment Group. The 2009 Shell Canada Undergraduate
The 8th annual EPCOR Distinguished Lecture featured Professor Daniel Kammen from the University of California, Berkeley, speaking on ”Innovations for a Low-Carbon Future.”
ECONOMICS
The Western Centre for Economic Research (WCER) published ten Information Bulletins, held three CN Canada-US Trade Relations Forums, and continued to sponsor student internships and projects related to Canada-US trade relations, the competitiveness of Canada’s exports, small business, forestry, and business indicators. The quarterly ATB Financial Business Sentiments Index measuring business confidence in Alberta was continued. A newly-established partnership between Alberta’s two premier economic and policy research centres, the Canada West Foundation in Calgary, and the WCER will use an innovative on-line survey instrument to gather new information on western Canada’s economic prospects.
A LEADING BUSINESS SCHOOL
13
ON A
HIGH
The Alberta MBA started the future on a high in September 2009 with the
years.
A person can be transformed in two
Ioana Popescu, ’09 MBA Project Manager, Canadian Patient Safety Institute
EUROPEAN FAMILY BUSINESS
highest ever global ranking, 77, by the Financial Times of London, the highest ever in-take of full-time MBA students, 86, a 45 percent increase in full-time applications, representation from 18 countries, the highest ever, and are looking to improve on their silver medal and their first in finance win at
New hire Assistant Professor Peter Jaskiewicz brought with him his “Leadership in Europe” program, which he founded at the European Business School, and developed our first European Study Tour open to both MBA and undergraduate students specializing in Family Business. The elective was full after only eighteen seconds of on-line registration.
In addition to offering full-time, part-time, and executive programming and offering the Natural Resources Energy and the Environment specialization on-site in Fort McMurray, we also offer joint degrees with Agriculture, Engineering, Forestry, and Law and flexibility to complete course requirements for several accounting, financial, and consulting designations.
The fifth annual MBA study tour to China, and the first ever Executive MBA Edmonton cohort study tour to China, took place in May.
last year’s MBA Games in Halifax.
415 students, the fifth largest in Canada.
Our overall program size is now
14
“Going through the full-time MBA program simply changed my perspective on what is possible. In a few hours, a diverse team working together for the first time can solve a business problem. In only one class, students can design businesses that are socially responsible, ethical, sustainable, and profitable. It is possible for a nurse from Romania to manage a successful Canadian national initiative.”
A HIGHER BUSINESS EDUCATION
A GLOBAL VILLAGE
Our specializations including International Business continue to draw applicants from around the world. The entering class of 2009 includes students from: China, Colombia, France, Germany, India, Iran, Kazakhstan, Korea, Kyrgyzstan, Mexico, Nigeria, Pakistan, Peru, Phillippines, Saudi Arabia, Ukraine, United States, and Vietnam.
ALBERTA MB HIGH TECH DOCTORS
In addition to more diversity geographically, classmates also learn from the increasing number of doctors and PhDs in the program, many of whom are drawn to the Technology Commercialization specialization. Stephanie Minnema, President of 2008/09 MBA Association, is a newly-minted graduate of the Technology Commercialization specialization adding to her doctorate degree in biochemistry and molecular biology.
FINANCE SPECIALIZATION
In March 2009, a Finance specialization was approved. This addition brings to six the number of specializations or streams offered in the MBA program. The Leisure and Sport Management specialization has shown a surge of interest in our 2009 entering class. A new coordinator is in place for the Public Management stream. New hire Amit Monga, Executive Professor, is the champion of the Finance specialization and spearheaded the participation of the School in the 2008 “Best in Class” Financial Executives International competition in Toronto. Participation in this event is by invitation only to the top ranking schools in Canada. Amit also contributes a monthly “Dealwatch” column to the Financial Post.
“e” FOR ENVIRONMENT
The Natural Resources and Energy specialization will celebrate its tenth anniversary in 2010. The name was officially changed this year to the Natural Resources, Energy and the Environment specialization to reflect the growing importance of environmental issues as part of the specialization. The second European study tour on renewable energy for students and alumni took place over Reading Week in February. The third, to Norway, is planned for 2010 as is an additional study tour to Colombia.
My experiences with the NREE were nothing short of phenomenal: first-class instruction and support, travel for international competitions and coursework, and endless networking opportunities to name but a few. Before I knew it, I had already started my next career prior to graduation.
Dan Stickney, ’08 MBA Senior Associate, Sustainable Business Solutions, PricewaterhouseCoopers LLP
EXECUTIVE MB EXECUTIVE LEARNING
Providing our students with access to Canadian leaders is a unique aspect of the program. The weekly CGA/MBA Forum series provides students close access in an informal setting to learn from leading executives. A highlight of the series, which in 2008/2009 featured 32 speakers, is the session with the School’s Canadian Business Leader Award recipient, which this year was Hal Kvisle, CEO of TransCanada Corporation. The MBA Mentorship program, where students are matched with School of Business alumni and other community leaders, continues to gain momentum with 48 pairings.
LEADING THE “FIELD”
The addition of the course in leadership skills and the courses in business ethics, corporate social responsibility, and communications was taught by student favourite Professor Richard Field who, this year, was honoured with the 2009 McCalla Professorship. McCalla Professors are those who demonstrate excellence in teaching, acknowledge the importance of students, conduct themselves in an ethical manner, are collaborative, open to change, take pride in history and traditions, and are committed to integrating their research and teaching.
MASTER NEGOTIATOR
Another student favourite is Professor Terry Daniel who again taught the very popular Negotiations course in both the MBA and Executive MBA programs. Terry was again the students choice for Professor of the Year.
16
A HIGHER BUSINESS EDUCATION
EXECUTIVE MBA
The Alberta School of Business and Calgary’s Haskayne School of Business offer a joint Executive MBA program.
on-site
in Edmonton
An program began being offered in 2007 with the first class convocating in June 2009 after returning from an Edmonton-only study tour to China in May. The 2009 Financial Times of London ranked the Alberta/ Haskayne Executive MBA program second among the programs in Canada and 12th overall among 49 business schools in the Americas. The Alberta/Haskayne EMBA ranked
35th globallyon the overall list
of the top 95 programs world-wide. The program
outranked all Canadian schools in the two categories of particular importance to potential students: career progress and aims achieved. Graduates of the Alberta/Haskayne EMBA also reported
the highest percentage salary increase out of all Canadian programs. Dan Okrusko ’09 EMBA - First Edmonton Cohort, Regional Sales Manager, 3M Canada
MBA CASE COMPETITIONS:
MBA GAMES – HALIFAX TEAM SILVER – FIRST IN FINANCE
Top 100 Globally
Global Social Entrepreneurship Competition (new) – Seattle Tata Cup (new) – Toronto Financial Executives International (new) – Toronto Ivey Business Plan Competition (new) – London, Ontario Spark IT Business Plan (new) – Edmonton/Calgary Canada’s Next Top Ad Exec (new) George Washington University International MBA Case Competition – Washington, DC John Molson MBA International Case Competition - Montréal
A LEADING BUSINESS SCHOOL
17
HIGH RISK
T
he economic meltdown produced plenty of financial fodder for Joel Elford and his classmates majoring in Finance. Who was to blame - who benefited - how to fix it – were just some of the ongoing discussions both in and out of the classroom. Joel’s highest rewards, however, may have been from his participation in the School’s “Five Days for the Homeless” initiative and, as founder of Streetlight, an organization in Tacloban, Phillippines, that helps children stricken by poverty find a better way of life.
Joel Elford ’09 BCom
NCE T
IN
FIN
LEADERS
he Department of Finance and Management Science has a distinguished history of teaching and research contributions, with regular publication in the leading international journals of finance, operations research, statistics, and economics.
HIGHEST HONOUR Finance Professor Randall Morck was awarded the U of A’s most prestigious research award, the J. Gordin Kaplan Award for Excellence in Research at the University of Alberta’s Celebration of Research and Innovation on March 19.
Yale
Randall returned from University to accept the award where he was spending part of his sabbatical as a visiting chair with the Schoen Visiting Professorship in Finance. Two topics he has been working on are financial market psychology and financial bubbles. He also helped run a project on early corporate governance issues in industrializing Europe. Randall is also Director of the School’s Canadian Corporate Governance Institute that hosted leading finance professors and PhD students at the invitation-only Frontiers in Finance Conference in Banff July 28-29. Randall, who holds the Stephen A. Jarislowsky Distinguished Chair in Finance, is also Research Associate, National Bureau of Economic Research,
“A global finance expert, academic rainmaker, the intellectual imp of the West – no academe in Canada has a broader academic wingspan
smartest business minds in Canada.” – one of the
Gordon Pitts, Globe and Mail Author, Stampede: The Rise of the West and Canada’s New Power Elite, 2009 National Business Book Award
Cambridge and the European Corporate Governance Institute, Brussels ; Senior Research Associate, Harvard Law School; and is 2006 recipient of the University Professor designation.
Randall Morck 20
A HIGHER BUSINESS EDUCATION
RIGOROUS RESE Leading Benchmark
The Financial Times of London is the catalyst for the world’s leading benchmark of university research and business program excellence. A key metric used is the publication record in top-tier journals. In 2009,
35th globally for research; for the year 2008/2009, ( July-June) - the School had 21 Financial Times recognized publications.
the Alberta School of Business ranked
Randall Morck lead the Finance department with two publications and was joined by new hire Masahiro Watanabe also with two. Jennifer Argo, Marketing, had two for her groundbreaking work on consumer influence theory. Felipe Aguerrevere, our risk management expert in Finance, and Florin Sabac, Accounting, had the distinction of being the only sole authors for their papers: “Real options, product market competition, and asset returns” and “Dynamic incentives and retirement” respectively.
HIGH Tech HIGH Touch
We continue to be supported by high-end technology and personal and customized library services. The Winspear Business Reference Library has the largest collection of business databases in the country. The School looks forward to the arrival of Bloomberg, the predominant information tool for the financial services industry, in time for the 25th anniversary of the library in the coming year. The School has invested over a quarter of a million dollars in virtual computing architecture resulting in reduced costs for computing, improved efficiency, scalable resource allocation, and less environmental impact. Our Blackboard Learning System – uLearn – has also been upgraded from version 7.2 to 9.0. The Alberta School of Business remains #1 in Canada on Google when using the search terms “School of Business” or “Business School”.
HIGH PRESSURE
Mark Carney, Governor, Bank of Canada, who arguably holds the most important and challenging job in the country returned to his hometown of Edmonton March 30 to deliver the School’s Princeton Lecture. John Ferguson, ’64 BCom, and founder of the lecture series, introduced Mr. Carney to a standing room only crowd. Over 20 media attended the event and media hits approached 300.
RCH RECRUITMENT OF INTELLECT
The School of Business continues to aggressively recruit the best and brightest. New faculty include:
Finance
András Marosi, PhD, University of Texas at Austin: predation and financial structure Lukas Roth, PhD, University of Bern, Switzerland: corporate and international finance Masahiro Watanabe, PhD, Yale: asset pricing and marketing microstructure Yohei Yamamoto, PhD, Boston University: financial statistics
Strategy
Anthony Briggs, PhD, Boston University: entrepreneurship, strategy and innovation In-Sue Oh, PhD, University of Iowa: personnel selection and individual differences
Marketing
Sarah Moore, PhD, Duke University: communication and consumer behaviour
ACCOUNTING
Michael Maier, PhD, University of Iowa: financial reporting and analysis, perimental economics.
A LEADING BUSINESS SCHOOL
21
AIMING
HIGH
In June, the School along with the CEOs of Edmonton-based AIMCo, ATB Financial, and the Canadian Western Bank participated in a Toronto mission to help showcase Edmonton as a regional financial power. These types of strategic partnerships benefit everyone.
AIMCo
We are pleased to announce the establishment of the Alberta Institute of Finance among AIMCo, the University of Alberta, and the University of Calgary. Support includes joint seminars, scholarships, and internships for AIMCo executives, PhD, and MBA students. AIMCo, the Alberta Investment Management Corporation, was set up in 2008 to manage $75 billion of public-sector financial assets. Alumni representation on the management team of AIMCo includes Carole Hunt, ’91 MBA, as the new Chief Legal Counsel, Jai Parihan, ’74 MBA, Chief Investment Officer; Jay Kembhavi, ’76 MBA, Chief Operating Officer, Sharilee Fossum, ’81 BCom, Chief Technology Officer, and Gary Smith, ’96 PhD, Chief Economist.
PRIME
Gary Smith is also Program Director for, the Program for Research and Investment Management Excellence (PRIME) and helped celebrate the ten-year anniversary in May with over 40 PRIME alumni, mentors, board members and faculty. The PRIME program involves a select group
22
A HIGHER BUSINESS EDUCATION
of undergraduate students being responsible for investing a fund in the Canadian equity market. As of June 30, 2009, the fund’s value was $964,746.33, a drop of 27% from the previous year, which is significantly less than many of the losses on Wall Street.
ATB Financial
The School’s Western Centre for Economic Research continues to jointly produce the ATB Business Sentiments Index, a quarterly survey of more than 400 companies throughout Alberta which gauges their opinions and sentiments. ATB is the largest Alberta-based financial institution.
Blake Phillips ’04 MBA, ’09 PhD
September 08: Index shows optimism despite US economic woes. December 08: Economic uncertainty trumps Alberta business optimism. March 09: Alberta business sentiment steady despite economy. June 09: Alberta business sentiment rebounds after six-month slide. Dave Mowat, CEO of ATB, visited the School in September 2009 as one of the first CGA/MBA Forum speakers of the year.
LBERTA PHD BLAKE’S AMAZING YEAR
Blake Phillips, ’04 MBA, ’09 PhD, has certainly had a busy year. In September, he received word he was one of two PhD recipients in Canada of the $25,000 Canadian Securities Institute Research Foundation scholarship. Blake was chosen to examine the effect of corporate risk management on firm value within the oil and gas producers. His paper, “Price Inflation and Wealth Transfer during the 2008 SEC Short-Sale Ban” was also published and quickly picked up the Boston Globe, Wall Street Journal, and Dow Jones: A ban on short selling financial stocks imposed by the Securities and Exchange Commission in September led to substantial price inflation in the banned shares, according to a paper co-authored by Blake Phillips, PhD, University of Alberta, and professors Lawrence Harris, University of Southern California, and Ethan Namwar, University of California-Irvine. Vikas Mehrotra
Blake successfully defended his thesis on April 27 and shortly thereafter packed up his bags to take up his new position at the University of Waterloo. Blake is one of twelve PhDs to graduate in 2008/09 and one of six who graduated in Finance. Department Chair and Professor Vikas Mehrotra was the supervisor for three of the students including Blake.
BY THE NUMBERS
A vibrant PhD program is an integral part of the research-intensive strategy of the School. Under Program Director David Cooper’s leadership, the program has stabilized at close to 70 students for the last few years. Admissions have varied between 10 and 16 depending in part on the number of graduations. Ten students entered into the program in 2009 and were selected from nearly 400 applicants. PhD specialization enrolments are Accounting (14), Finance (8), Human Resource Management (9), Management Science (5), Marketing (16), and Organizational Analysis (16). Recent success in placements to leading business schools including at the Universities of McGill, York, Ohio, and Waterloo, will positively impact our
Alberta PhD is #59 globally and #2 in Canada. Financial Times of London ranking. Currently, the
A comprehensive satisfaction survey was conducted for alumni between 2003 and 2008. The percentage of graduates who were satisfied or very satisfied with the
research culture is 93%.
Overall, our mission is to deliver excellent PhD programs in those areas where the School of Business seeks to excel and to ensure business students are capable of conducting research and publishing in top research outlets substantial research that makes a difference.
A LEADING BUSINESS SCHOOL
23
HIGH TOUCH
A
t the end of March, Badeia Jawhari, ’09 BCom, travelled to Dubai as a student presenter for the international conference Education Without Borders where she pitched her idea for teaching people in Africa using low-cost cell phones. “It was about a sustainable solution for e-education to teach them about AIDS, basic education, and malaria” said Badeia who graduated this year with both a Bilingual Bachelor of Commerce and Bachelor of Commerce Co-operative Education degrees with a Human Resources major.
Badeia Jawhari ’09 BCom
IN
STR
LEADERS
TEGY T
he Department of Strategic Management and Organization encompasses the following disciplines: Human Resources, Organizational Behaviour and Theory, Business Strategy and Policy, Family Business, Entrepreneurship, Technology Commercialization, and Industrial and Labour Relations.
HIGHly VALUED Rigorous, relevant, and recognized research is the ongoing passion of Associate Dean Research Royston Greenwood. His passion continues to ignite us. In the 2009 Financial Times of London rankings, the Alberta School of Business
Canada’s first and continually accredited business school by AACSB - continues to rise.
placed 35th globally – our reputation –
Also on the rise is the demand for colleague David Deephouse’s research on corporate reputations. David was appointed Canadian Academic Advisor to the “Reputation Institute” – an international organization devoted to advancing knowledge about corporate reputations. David is a globally respected leader in how media coverage impacts financial performance. His work is an integral part of the School’s Centre for Professional Service Firms Management, a recognized area of excellence for the School.
INTELLECTUAL COMMUNITIES
The Alberta School of Business is pleased to congratulate Royston Greenwood, on his induction into the Fellows Group of the international Academy of Management, the world’s largest and most prestigious academic body for the study of management.
Building intellectual communities is an overriding priority for Royston who believes that providing mentoring opportunities that enable established faculty members to work with doctoral and post-doctoral students is imperative to fostering academic excellence. In 2009, Royston helped co-organize a conference – Institutions, Innovations, and Space – which attracted 88 participants from 38 universities in 11 countries including Stanford, Oxford, Cambridge, Berkeley, Imperial College, Uppsala, Vienna, and the Hebrew University of Jerusalem. A key feature of the conference was the mixing of 28 doctoral students and senior scholars. Royston, along with colleague Roy Suddaby, also co-edited The SAGE Handbook of Organizational Institutionalism, a collection of 34 contributions from the world’s most eminent and international scholars often in collaboration with younger colleagues. Roy Suddaby
26
A HIGHER BUSINESS EDUCATION
LEADING REPUT Jennifer, Karen, and DIANA
Professors Jennifer Jennings and Karen Hughes returned from Belfast, Ireland, in November with a stunning engraved crystal vase in honour of being the winners of the first-ever Diana International Best Paper Award for “the most outstanding contribution to women’s entrepreneurship research”. Their award-winning paper, which is co-authored by colleague Dev Jennings, is entitled, “The work-family interface strategies of male and female entrepreneurs: Are there any differences?” Karen and Jennifer, and the Alberta School of Business, were also selected as hosts of the next Diana International Research Symposium scheduled for the summer of 2010 in Banff.
ENTREPRENEURSHIP
The School’s fervent dedication to both entrepreneurship and family business continues to be recognized internationally. In 2009, at the International Academy of Management conference, the “Rankings of Top Entrepreneurship Researchers and Affiliations: 1995 through 2006” was presented. The Alberta School of Business
tops in Canada and 18th globally for its contributions to entrepreneurship literature; Professor
finished
Lloyd Steier ranked #25 globally in this very competitive global field.
tION
FAMILY BUSINESS
In 2008, the paper “Family Business Research in the New Millenium” ranked both the School of Business and Professor Lloyd Steier as
one in the world
number
for research productivity in the field of family enterprise. Lloyd Steier is the Academic Director of both the Centre for Entrepreneurship and Family Enterprise (CEFE) and the Alberta Business Family Institute (ABFI). With offices in downtown Edmonton and Camrose, ABFI creates a direct link between business families throughout Alberta and research and study at CEFE and offers specialized education and support. ABFI’s signature event is an annual highlight on the School’s calendar. In 2008, the former Prime Minister Paul Martin’s family was honoured for their family business: Horizon Capital Holdings and Canada Steamship Lines, Montréal. In 2009, the Fuller family – Earls and Joey’s restaurants, Saltlik Steakhouse, Vancouver – is being honoured.
TECHNOLOGY COMMERCIALIZATION
Michael Lounsbury, who holds a joint appointment with the U of A – based National Institute for Nanotechnology, continues to prove his is one of the University’s and country’s top young minds. In 2009, Michael was awarded the Martha Cook Piper Research Prize established to annually recognize faculty members who are at the early stage of their careers, enjoy a reputation for original research, and show outstanding promise as researchers. Michael is also Director of the School’s Technology Commercialization Centre and the MBA specialization.
Jennifer Jennings
A LEADING BUSINESS SCHOOL
27
HIGHly interactive Linda Banister’s commitment to lifelong learning, her community, and her alma mater are impressive and inspiring. Linda received both her Bachelor of Commerce, 1983, and Masters in Public Management, 1987, degrees from the University of Alberta School of Business. After founding Banister Research & Consulting Inc and while successfully leading the company for over 20 years, Linda also obtained her Certified Management Consulting designation in 1991, becoming a fellow in 2002, was recognized with a Certified Market Research Professional designation in 2004, and, in 2008, completed her Directors Education, ICD.D, certification. Her many accolades and designations also include Board Member, President, Fellow, Lecturer, and Women of Distinction to name but a few. Her most cherished designations are Mom to Taylor and Marina and wife of fellow alumnus Harold.
LEADING IN THE BOARDROOM
The Directors Education Program (DEP), jointly developed by the Institute of Corporate Directors and the Rotman School of Management, University of Toronto, is the most definitive course of study for board directors in Canada. In partnership with the School’s Executive Education programming, the DEP is a highly-interactive, four 3-day module program of forward thinking that incorporates roundtable discussions, real-time case studies, and on-point insights from leading academic thinkers, experts
28
A HIGHER BUSINESS EDUCATION
“The Directors Education Program reinforced and expanded my knowledge of governance and leadership. It
confirmed that the qualities of a successful entrepreneur
- strategic thinking, good judgment, integrity, communication skills, and intuition - are invaluable in the boardroom.” Linda Banister in the field of board behaviours, and “guest” executives. The third intake of students begins November 2009.
RESPONSIBILITY AND SERVICE
Corporate Governance was also the theme for the annual Women on Board conference held each fall in the Rocky Mountains in cooperation with Alberta Venture. The School’s partnerships are highly valued as is corporate social responsibility.
As is Linda Banister, Assistant Dean Carolyn Campbell and the team at Executive Education are personally committed to both exceptional client service and corporate social responsibility. All of Executive Education’s staff are committed to contributing to their respective communities, serving people through organizations in the arts, sports, non-profit service, and business groups.
EXECUTIVE EDUC LIFELONG LEARNING
TION
International Education
Executive Education has been operating out of the School of Business for over twenty years; beginning first with management and leadership education for the Government of Alberta. Today, we serve four levels of government and provide customized programming to many organizations in the private and public sector across Alberta, and into British Columbia, the Northwest Territories, and the Yukon.
The School’s Centre for International Business Studies (CIBS) continues to be the lead in customized international executive training programs. CIBS expanded its China summer executive training program in petroleum management in 2008 to include trainees from India and Bolivia. CIBS’ extensive activity in China was reduced in 2009 due to the aftermath of the earthquake and H1N1 flu concerns.
Alberta School of Business Executive Education is the fourth largest in
The School’s Centre for Applied Business Research in Energy and the Environment hosted 24 Colombian engineers from the Universidad de los Andes, all employees of Colombia’s national petroleum company Ecopetrol, who were in Alberta for three weeks in June. The partnership, in its second year, helps the students compare energy company business practices in Canada to those at home and is meant to assist them to be future managers. This collaboration is being extended to Canadian students. In February 2010, Professor Joseph Doucet will take a group of NREE MBA students to Colombia.
5,000 students were served with over 30 programs. the country with $6 million in revenues. In 2008/2009, over
Programs are delivered on three campus locations including the new campus in
Enterprise Square University of Alberta Calgary Centre (2009) as well as
downtown Edmonton at (2007), our facility on the main campus in the Alberta School of Business, and in the new significant off-site programming in Fort McMurray.
New programs for 2009 included: Leadership Development Program: Federal Government • Business in Dentistry Certificate •
New programs for 2010 include: Understanding Capital Markets: Edmonton • Municipal Management and Leadership: Burnaby • Global Leadership in Energy Program: France • Leadership Development Series: Calgary •
The key countries selected for the School’s international strategy are consistent with those for the University. They are China (including Hong Kong), Germany, India, Mexico, North East Asia, and the Middle East. CIBS is also the School’s portal for student exchanges, internships, study tours, and dual degree opportunities. Double degree agreements have played an important role in facilitating student mobility at the MBA level. These agreements allow students to obtain two degrees – one from the U of A and one from either EDHEC in France; ITESM, Mexico Guadalajara; ITESM, Mexico, Monterrey; and new this year – WHU, Germany.
A LEADING BUSINESS SCHOOL
29
Alberta School of Business is recognized as among the top 1% of publicly funded, research-intensive business schools globally.
Our strategic goal is to ensure that the
Alberta School of Business is a national business school located in Edmonton and that we have a global reputation.
We are making significant progress year by year in demonstrating that the
Mike Percy, Alberta School of Business Stanley A Milner Professor and Dean
LBERTA
SCHOOL OF BUSINESS
30
DMINISTRATION The best quantitative measurement of how we are doing is the ranking of the top 100 MBA programs globally by the Financial Times of London which includes a thorough look at the research strength of the School, alumni success and impact, and the international composition of faculty, students, and programming. The Alberta School of Business continues to rise. In 2009 our overall research ranking is 35th. Closely related is our PhD program now at 59th globally and second in Canada. Our MBA program jumped 11 spots from last year to 77th globally, fifth in Canada, and first in Canada in value for money, aims achieved, and career progress of our graduates. Our joint Executive MBA program with the University of Calgary is now ranked 35th globally and second in Canada. Our strategy in terms of niche programs also remains consistent - focus on niches that lever off the Province of Alberta brand and reflect the critical drivers of the Alberta economy. In Energy we have our new partnership with INSEAD recognized by the Financial Times as among the top five MBA programs globally. We have a longstanding focus on Entrepreneurship, Family Enterprise, and Retailing which is reflected in research and outreach centres. Two of the University of Alberta’s most prestigious research awards were won by Finance professor Randall Morck and Technology Commercialization professor Michael Lounsbury. We hired eight new faculty this year by a wise use of unrestricted reserves - we are only as good as our students and alumni faculty and staff - advisors and friends. Higher education is a privilege and shared responsibility. Thank you for your support. Dean Mike Percy
Alberta School of Business Dean and Stanley A Milner Chair in Leadership and Development
Mike Percy Vice Dean
Tom Scott Associate Dean, Research
Royston Greenwood Director, PhD
David Cooper Associate Dean, MBA
Joan White
Associate Dean Undergraduate
Elaine Geddes
Assistant Dean External Relations
Elke Christianson
Assistant Dean Executive Education
External Relations
Carolyn Campbell
Alberta School of Business
Assistant Dean, International
University of Alberta
Edy Wong
4-40 Business Building,
Chair, Accounting and Management Information Systems
Karim Jamal
Chair, Finance and Management Science
Vikas Mehrotra
Chair, Marketing, Business Economics and Law
Edmonton, Alberta T6G 2R6 780.492.4083 (telephone) 1.877.362.3222 (toll free) 780.492.8748 (fax) external.business@ualberta.ca www.business.ualberta.ca
Adam Finn
Chair, Strategic Management and Organization
Yonatan Reshef
Assistant Dean Development
Mike House
A LEADING BUSINESS SCHOOL
31
LUMNI 20,000
BUSINESS ALUMNI ASSOCIATION (BAA)
Our more than alumni are our greatest ambassadors. Our BAA encourages all alumni to stay connected. This year thousands of alumni:
25 events
Attended over in Edmonton, Calgary, Canmore, Kelowna, Vancouver, Victoria, Toronto, Napa Valley, Hong Kong, Singapore. We are still the most active faculty alumni group on campus.
Dustin Bateyko, ’01 BCom
Jami Drake
Christoph Wilser, ’06 MBA
Cushman & Wakefield Edmonton
Manager, Alumni Programs Alberta School of Business
Management Consultant
Bill Blais, ’98 BCom Vice President Land Development Maclab Enterprises
Katrina Bonnycastle
Kept in touch with our award-winning Business Alumni Magazine - and NEW
The 21st Business Alumni Dinner John Ferguson, ’64 BCom, Chairman, Suncor Energy - Petro-Canada November 17th, 2009
President, MBA Association Alberta School of Business
- Facebook and
LinkedIn. Supported our students as mentors, employers, speakers, judges, sponsors, donors. Recommended our programs - BCom, MBA, PhD, Executive Education - to family members, colleagues, employees and friends.
A HIGHER BUSINESS EDUCATION
Branch Presidents Derek Bennett, ’68 BCom – Vancouver Director of Human Resources Layfield Group Limited
Aaron Brown, ’97 BCom
Darryl Lesiuk, ’91 BCom, ’07 MBA
Senior Manager, Portfolio Research Alberta Finance BAA Past President
BAA President
Jon Wrathall, ’00 BCom – Calgary Senior Consultant, Human Resources TransCanada
Thomson Leung
Jeff Schellenberg,
Cheng-Hsin Chang, ’06 MBA
President, Business Students’ Association Alberta School of Business
’04 MBA, ’05 LLB – Toronto Investment Banking Merrill Lynch Canada Inc.
Elke Christianson
Jane Halford, ’94 BCom
Ross Bradford, ’79 LLB, ’85 MBA School of Business Faculty Representative
Assistant Dean, External Relations Alberta School of Business
32
Investment Advisor and Financial Planner RBC Dominion Securities Inc.
John Whitmore, ’05 BCom Assistant Branch Manager RBC Dominion Securities Inc.
CEO and Executive Director Institute of Chartered Accountants of Alberta U of A Alumni Council Business Representative
Financial Security Advisor Freedom 55 Financial
Together we are stronger.
Christopher C. Grey, ’95 MBA
Kristan Morin, ’08 BCom Student Recruitment Advisor University of Alberta Faculty of Nursing Michael Richard, ’06 BCom Investment Advisor Canaccord Capital Corporation
Lee Close, ’85 BCom – Ottawa Vice-President, Ernst & Young
Trevor Mak, ’82 BCom, ’84 MBA – Hong Kong Director & Sr Private Banker Citigroup
DVISORS
The 28th Canadian Business Leader Award Hal Kvisle, CEO, TransCanada Corporation March 04th, 2009
Business Advisory Council (BAC) Judith Athaide
President The Cogent Group Inc Calgary, Alberta
Court Carruthers President Acklands-Grainger Inc. Senior Vice President W.W. Grainger Mississauga, Ontario
Patrick Daniel President and CEO Enbridge Inc Calgary, Alberta
Marc de La Bruyère Managing Director Maclab Enterprises Edmonton, Alberta
Rosemary Domecki President Domtex Equities Inc Dallas, Texas
John Ferguson, FCA
Chairman, Princeton Ventures Ltd Chairman, Suncor Energy Inc Chancellor Emeritus and Chairman Emeritus of the Board of Governors University of Alberta Edmonton, Alberta
Karl Funke
Munich, Germany
Bob Gomes
President and CEO Stantec Inc Edmonton, Alberta
Brian Heidecker Chairman Board of Governors University of Alberta Edmonton, Alberta
Barry James, FCA
Managing Partner PricewaterhouseCoopers LLP Edmonton, Alberta
Kent Jespersen
Chairman and CEO La Jolla Resources International Ltd Calgary, Alberta
Irv Kipnes
President and CEO Delcon Capital Corporation/ Liquor Stores Income Fund Edmonton, Alberta
Phil Lachambre President PCML Consulting Inc Edmonton, Alberta
Michael Lang
Chairman StoneBridge Merchant Capital Corp Calgary, Alberta
Ruo Hong Li
Randall Morck
Stephen A Jarislowsky Distinguished Chair in Finance University of Alberta School of Business Edmonton, Alberta
Chairman, China World Peace Foundation Vice Chairman, Beijing Association for International Friendly Contact and Beijing Association of Enterprises Beijing, China
Patricia (Tricia) O’Malley, FCA
Neil Manning
CEO Waiward Steel Fabricators Ltd. Edmonton, Alberta
President and CEO Wajax Ltd Mississauga, Ontario
Gay Mitchell
Chair Canadian Accounting Standards Board Toronto, Ontario
Donald J. Oborowsky
Mike Percy
Larry Pollock
President and CEO Canadian Western Bank Edmonton, Alberta
Mary Ritchie
President Richford Holdings Ltd Edmonton, Alberta
Indira Samarasekera
President and Vice Chancellor University of Alberta Edmonton, Alberta
Robert Sanderman
President Oakwood Commercial Ventures Denver, Colorado
Deputy Chairman RBC Wealth Management RBC Financial Group Toronto, Ontario
Stanley A Milner Professor and Dean University of Alberta School of Business Edmonton, Alberta
Don Swystun
Amit Monga, PhD
Roger Phillips
Joseph Thompson
Executive Professor of Finance University of Alberta School of Business Edmonton, Alberta
Honourary Director IPSCO Inc. Regina, Saskatchewan
Executive Vice-President and President, Canadian Plains Division EnCana Corporation Calgary, Alberta Chairman PCL Construction Group Inc. Edmonton, Alberta
BAC Chairman:
Guy J Turcotte
Chairman, President and CEO Stone Creek Resorts Calgary, Alberta
Kim Ward
President Interward Asset Management Toronto, Ontario
Don Wheaton Jr President Don Wheaton Limited Edmonton, Alberta
Steven Williams Chief Operating Officer Suncor Energy Inc Calgary, Alberta
Ralph Young
President and CEO Melcor Developments Ltd Edmonton, Alberta
A LEADING BUSINESS SCHOOL
33
DVANCEMENT Advancing Excellence
PRESERVATION OF THE NAME
With respect to securing donations, 2008/2009 was both a challenging and rewarding year for the Alberta School of Business. Donors are vital to the School’s ability to compete nationally and internationally in recruiting top academic talent and attracting top students as well as maintaining superior technology infrastructure and establishing and maintaining meaningful relationships with the business community. Over the past three years, the School has generated 15 percent to 20 percent of its discretionary budget through donations. In return, the School has seen its independent international rankings climb consistently every year while the achievements of our faculty and students continue to garner more recognition and praise.
With the strong support of alumni and friends, in October 2008, the
The sharp decline in the financial markets impacted donations during the year, as most of our individual and corporate donors saw reductions in the value of their portfolios or stock prices. However, this downturn provided the School an opportunity to thank our existing donors more consistently while sharing stories about successes in the classroom and on the academic stage. Dean Mike Percy, our chief fundraiser, dedicated nearly half of his time to fundraising and stewardship in the past year. As the markets improve, we believe this investment of time will lay the groundwork for future fundraising success.
Alberta School of Business publicly launched a $20 million fundraising campaign to retain the School’s unique Alberta brand through the “Preservation of the Name” Campaign. With Honourary Chairman Stan Milner leading the campaign along with Eric Newell and Sandy Mactaggart as honorary co-chairs,
School has raised 91 percent of its goal within the first year. Based on our recent the
successes and market cooperation, the School anticipates that the Alberta
completion of the campaign by Spring 2010.
School of Business will be ready to celebrate the
34
A HIGHER BUSINESS EDUCATION
CampAign
Imp ct
The cumulative impact of the Campaign 2000-2008 gifts – large and small, targeted and general – has certainly helped
transform lives
and disciplines including the emergence of the School as a global leader in family business. Indeed, the largest single contributor to the
family business area was for $3 million from a large private family foundation in western Canada requesting anonymity. One of the campaign’s final donations for family business came from alumnus Neil Manning in support of an undergraduate scholarship in family enterprise. The first recipient, Jana Chehayeb, hails from Cold Lake, Alberta: “I was practically born into our family business – a fast food restaurant. I have worked there since I was 12 and I still go back up to Cold Lake to work with my parents on every break I get.” Funds from Myers Norris Penny were also used to help support the first ever undergraduate and MBA family business study tour to Europe. Accompanied by Mike House, ’90 BCom, part-time MBA student, and Assistant Dean Development, the “A” also went to Europe. The tour was captured in photos, print, and memory, as well as on-line in Mike House’s blog which appeared on the Websites of the School of Business, the Financial Post, and the European Business Review.
Thank you for helping us build
on our strengths and invest in our future. 2009 Family Business Study Tour to Europe
A LEADING BUSINESS SCHOOL
35
CCOUNTABILITY STATEMENT OF ACTIVITY AND CASH FLOWS*
Source of Funds
University Operating Funds
2008-09 % Actual 43%
19,236,732
Own Source Funds Endowment Earnings (exclusive of Centre Endowments) 3,180,848 Executive Education and Executive MBA including Fort McMurray 7,044,676 Centres & External Services, Events and Applied Research 3,377,853 Research Grants and Contracts 5,867,013 Donations 1,212,925 MBA & International Differential Fee 1,473,278 Government Access Funds 2,939,003 Total Own Source Funds 25,095,596 57%
2,214,176 7,241,500 4,306,833 2,581,907 4,226,071 1,735,021 3,366,450 25,671,958
57%
44,908,690
100%
Total Sources of Funds
18,564,867
2009-10 % Forecast
43,660,463
100%
Use of Funds Teaching 1 15,402,249 37% Research 1 10,608,984 26% Centres, Service, Community Relations, Development 5,231,450 13% Executive Education and Executive MBA including Fort McMurray 6,209,750 15% Technology and Infrastructure 1,909,824 5% Operating and Support Services 1,887,346 5%
43%
37% 25% 15% 15% 4% 5%
100%
45,509,772
100%
Net Inflow (outflow)
2,410,861
(601,082)
Unrestricted Reserves2
2,474,000
294,325
41,249,602
Net Unrestricted Reserves comprise balances in own funds that are generally available to the School to cover operations.
2
16,656,027 11,455,686 6,675,068 6,684,961 1,829,479 2,208,550
Total Uses of Funds
* Th is statement reflects cash-based activities and represents a managerial view of the School’s fiscal operations. Accordingly, certain activities such as fund raising, professional development and research recognize revenue when it is received rather than when it is pledged or committed. 1 This includes a proportionate share of academic payroll as it relates to the teaching and research components of scholarly responsibility to the University.
design: Greg Miller, Backstreet Communications Inc
BUSINESS EDUCATION
writer + editor: Monica Wegner, Alberta School of Business
HIGHER
photography: Michael Holly University of Alberta