A L B E R TA
Sustainability Annual Review ALBERTA SCHOOL of BUSINESS
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i NTEGRATIVE ANDREW LEACH ALFRED SORENSEN
i NTERNATIONAL GLOBAL OPPORTUNITIES GLOBAL RECOGNITION
i V PILLARS
BCOM and MBA DEPARTMENTS APPLIED RESEARCH EXECUTIVE and PHD
i NNOVATIVE
FINANCIAL TIMES FACULTY MILESTONES
i NSPIRATIONAL EXCELLENCE ENGAGEMENT FINANCIALS FOUNDATION FOUNDERS
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We seek to be recognized through our
teaching and research as among the top 1 percent
of full-service, policy-shaping
business schools globally. 14 16 18 20
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SUSTAINABILITY The Capacity to Endure
ALBERTA SCHOOL OF BUSINESS UNIVERSITY OF ALBERTA The Capacity to Excel
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In appreciation of the interdisciplinary business education he received which helped fuel a 25-year career in the global energy sector, alumnus Alfred Sorensen donated $5 million.
interdisciplinary
THE ENERGY CHALLENGE
One would be hard pressed to find a
Andrew’s classroom highlights include:
more interdisciplinary faculty than the
- 2011 undergraduate professor of the year;
Alberta School of Business. Business is
- champion of the newly-approved
interdisciplinary by definition encompassing
undergraduate major in Natural Resources,
the study of accounting, finance, marketing
Energy, and the Environment, and
and strategy. Our 20,000+ alumni may well touch every industry. And one would be hard pressed to find a
- advisor to the student-led Commerce, Energy and Environment Group (CEEG). STUDENTS, SPONSORS, SUPPORT
group of students or alumni more integrated with their school or community. Engagement brings excellence.
The CEEG hosted the inaugural Alberta Energy Challenge business case competition in 2010. The Alberta team placed first and third
And, in 2011, there are few faculty perhaps
in 2011, drawing teams from Oklahoma, Penn
who have had a more integrated year in
State, and Berkeley, and drawing support from
teaching, research, and community than
lead sponsors Suncor Energy, Cenovus Energy
climate change policy expert Andrew Leach.
and the Certified Management Accountants.
Alberta Energy Challenge: Joeti Lall, delegate; Fiona Jones, Suncor; Andrew Leach, Faculty advisor; Stephanie Stiles, AEC Chair; Kathy Scales, Suncor
Andrew Leach: TENURE, TEACHING, TWITTER
Newly-promoted Associate Professor Andrew Leach’s area of research is environmental economics – his passion is climate change. “Would Hotelling Kill the Electric Car?” was the intriguing question and title of his co-authored paper with Canada Research Chair Ujjayant Chakravorty – contributing to the research area for which Andrew was also awarded tenure. For Andrew, excellence in research also translates into excellence in the classroom, in the community, and in cyberspace. Community accolades include being featured in Alberta Venture magazine as one of Alberta’s next ten most influential people, being a regular contributor to Alberta Oil magazine, and a recent Edmonton Journal profile which began: “During the most recent federal election campaign, you may have heard a thoughtful, well-spoken, politically neutral, and, best of all, marvelously well-informed man on the radio – in English and in French – talking about the oil sands. A man who knows precisely what he’s talking about, is not an arrogant political operative or furious environmentalist, and is one of the most engaging, most curious Edmontonians on Twitter.” Inspired by his ever-popular teaching blog, Andrew launched his own public blog that is frequently picked up by the on-line Globe and Mail’s best economy reads, and which was referred to in the New York Times as “a great blog on energy, climate and oil sands that has the best blog name I’ve seen in a long time – Rescuing the Frog. His Twitter followers stand at 2,000 and are growing daily.”
Andrew Leach
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PUBLIC POLICY SHAPING Western Centre for Economic Research Professor Emeritus Ted Chambers was inducted into the Department of Economics Graduate Hall of Fame at the University of Nebraska-Lincoln in honour of his lifetime achievement and accomplishments in the field of Economics over the last fifty years. “This honour is more than fitting for someone who has made tremendous strides in shaping and leading our School, but also in the field of economics, for more than five decades,” said Mike Percy. “Even at this juncture, he is still dedicatedly involved with the Western Centre for Economic Research (WCER). We congratulate him on this major achievement.” Jason Brisbois is the Director of WCER and Professor Emeritus Rolf Mirus is the CN Executive Professor of Canada-US Trade Relations. The WCER sponsored five CN Canada-US Trade Relations Forums: Globalization, Geopolitics, and the Shifting Sands of Trade Policy Should Canada, Mexico, and the United States Replace Two Dysfunctional Bilateral Relationships with a North American Community? Canada-India: The Future of Business and Global Politics Canada’s International Trade Agenda: Alberta’s Interest and Influence Canada’s Climate Change Policy
Excellence in the Classroom The Alberta School of Business congratulates four faculty recognized as the best of 2011: At this year’s graduation banquets, BComs honoured Andrew Leach (energy) with the Mackenzie Teaching Award and Loretta Amerongen (accounting) with the Mackenzie CAAST/Sessional Teaching Award; MBAs awarded professors Robert Fisher, Alberta School of Business Professorship (marketing) for first year excellence, and Roy Suddaby, Eric Geddes Professor of Business (strategy) with the second-year teaching award.
and on the Field: Loretta, the 2010 Alberta Athletics Masters Female Track and Field Athlete of the year, was also recognized as a Fellow by the Chartered Accountants of Alberta, and received her third Chartered Accountants Education Foundation of Alberta Teaching Excellence Award.
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ALFRED SORENSEN:
EXECUTIVES in the Classroom
In appreciation of the interdisciplinary business education he received which helped fuel a successful 25-year career in the global energy sector, Edmonton-native and Calgary-based Alfred Sorensen, ’83 BCom, generously donated $5 million to his alma mater.
Guest speakers add an important dimension to the teaching and educational equation and are strongly encouraged and supported. Formalized programs include MBA Forums and an MBA International Speaker Series as well as Executives-in-Residence who may stay for one day or several weeks.
EXECUTIVE, PHILANTHROPIST, ADVISOR
THE ALFRED SORENSEN CHAIR IN ENERGY, ENVIRONMENTAL AND REPUTATIONAL RISK MANAGEMENT WILL ALLOW THE SCHOOL TO RECRUIT A GLOBAL LEADER IN THE FIELD. THE ALFRED SORENSEN GLOBAL EXPERIENCE FUND WILL ENCOURAGE AND ENHANCE STUDENT INTERNATIONAL EXCHANGES, STUDY TOURS ABROAD, AND GLOBAL INTERNSHIP POSITIONS. “I am a strong believer in the value to our society of public education and how it can be used to improve the world we live in, and, to that end, it must and needs to be supported by those who have greatly benefited from its existence,” shared Alfred. Alfred is also a member of the Alberta School of Business’ 33-member Business Advisory Council.
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An annual MBA Forum highlight is the closed session with the School’s Canadian Business Leader Award recipient who in 2011 was Darren Entwistle of TELUS. Students were in awe of his candour and appreciative of a surprise gift – a TELUS product of their choice! Alumnus Alfred Sorensen is the longest-serving executive-in-residence, serving two weeks in October 2010 and returning again in 2011. “Part of giving back is to share experiences,” Alfred said. “You need to show that theoretical knowledge can turn into practical knowledge. It helps students see that being here is worth something.”
Externally Integrated The Alberta School of Business has as one of its goals to communicate and collaborate with the business community, our alumni, our government and our University. This is a continuing priority for Executive Education, for our office of External Relations – home to alumni programs and services, communications, development, and special events – as well as for eleven applied research centres with close industry linkages. Alberta Business Family Institute Centre for Applied Business Research in Energy and the Environment Canadian Centre for Corporate Social Responsibility Canadian Corporate Governance Institute Centre for Effective Business Management of Addiction Treatment Centre for Entrepreneurship and Family Enterprise Centre for Excellence in Operations Centre for International Business Studies School of Retailing Technology Commercialization Centre Western Centre for Economic Research
INTERNALLY MOTIVATED We continue to be a sought after place to both learn and work, with a growing number of alumni choosing the Alberta School of Business as an employer of choice. We congratulate Doug Leong, ’92 BCom, in his new position of Competitions Coordinator in the undergraduate office. In only his first year Doug received the Non-Academic Staff Award from the Business Students’ Association, for his contributions to student life and academic achievement. We congratulate Nella Sabo, ’05 BCom, on her promotion to Director of Development. Nella is also part of the inaugural FastTrack MBA cohort for business graduates and founding member of the Alberta School of Business’ Women’s Network, with an ever growing passion for the not-for-profit world. Nella Sabo
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Land of the Rising Yen: International Business Professor Rasmus Fatum gave two talks in Japan on the issue of Japan’s intervention in the foreign exchange market. His papers were then cited by the US Federal Reserve Bank.
The French Connection
An update from David:
Edmonton + Paris – Since the dual degree
First – the Natural Resource Energy and
program began in 2005, 20 MBA students
Environment specialization was the key on
have participated from EDHEC, and five from
helping me get here, providing a strong technical
the University of Alberta. The program takes two intensive years to complete – one year
grounding balanced with soft skills.
Second – I took advantage of the opportunities that were offered. Namely I attended countless
in Paris and one year in Edmonton – and
talks, took part in four case competitions, and
students earn degrees from both institutions.
went on an exchange to France. I cast my net wide and took in as much information as possible.
French Petroleum Institute – A new opportunity to study in France was very much appreciated by 2011 MBA graduate David Bartelme, who is now a Staff Economist in the
I found that the U of A offered so much that it exhausted me far before I exhausted its resources.
Third – my experience at the French Petroleum Institute turned out to be four months of preparation for my current role. I don’t have
New Venture Development group within the
enough good things to say about this exchange.
upstream business of Shell in Houston, Texas.
Thank you for caring for the students’ education.
Rasmus’ colleague Barry Scholnick is joined by five MBA students from Paris: Virya Lim, Guillaume Delia, Issabelle Abbo, Aline Fanget, Eline de Lazzer
GLOBAL OPPORTUNITIES RECRUITMENT and STUDENT EXCHANGES
Our net is wide and welcoming to both recruiting the best and brightest faculty and students from throughout the world. An international background and perspective for many of our faculty and opportunities for joint research and conference participation only adds to the classroom experience as does a diverse student body of experiences. The School has significant international presence: Forty-eight faculty members have passports from outside Canada and are drawn from top business schools. The international breakdown in our programs include: 15% – undergraduate; 40% – MBA, and 70% – PhD, which is consistent with global trends in highly-ranked PhD programs. MBA recruitment has involved participating in MBA events in China and India. There were 1,380 international inquiries regarding the MBA program last year. The MBA program has 15 different nationalities represented. A newly reclassified position, international student specialist, in the undergraduate office is actively involved in recruitment, admission, and advising of international students. International BCom students represent 23 foreign countries.
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The first student exchanges took place in 1991, twenty years ago, with the Wirtschaftsuniversität (WU) in Austria and Uppsala University in Sweden. The number of students who have taken advantage of the School’s international exchange programs has increased almost threefold between 2000 and 2011 from 33 to 84. This increase was accompanied by a rise in the number of incoming exchange students from our foreign partners from 61 to 89 during the same period. Overall, the School accounts for 25% of the total outgoing and 34% of total incoming students at the University, making it the most internationally-oriented Faculty on campus. Presently, there are 37 exchange partners including 17 in Europe, 14 in Asia, and six in the Americas. Exchanges are also supported by the student-run Business Exchange Association. New exchanges in 2011 include: Fudan University (China); Mannheim University (Germany); University of Petroleum & Energy Studies (India); University of Torino (Italy); Chonnam National University, Kangwon National University, Hanyang University (Korea); and Ozyegin University (Turkey).
STUDY TOURS
International study tours were introduced in 2005 as an alternative vehicle for students, particularly MBAs, to acquire an international experience. The majority of participants are MBA students who find the shorter time frame of the tours more compatible with their personal requirements. The number of study tours has increased over the years from one in 2005 to six in 2011, one to Germany (family business), one each to Norway and Colombia (energy) and three to China (BCom, MBA, EMBA), with 27 participants in 2005 to 100 in 2011. Plans are underway to offer a new study tour to Brazil.
INTERNSHIPS and COMPETITIONS
International internships and case competitions both provide real-life experience in an international context. International internships also continue to grow with four students participating in 2005 to 13 in 2011. An additional eight students had international co-op placements in Beijing, Hong Kong, Shanghai, Singapore, and Washington. Business students also continue to lead, and are active with, AIESEC’s Global Internship Program. Students in 2011 also excelled in several case competitions including winning the International John Molson Strategy Case Competition, being top undergraduate team at the Rotman International Case Competition, making the final four in the CFA Institute’s Global Investment Research Challenge in Omaha, Nebraska, and and will be returning to the Citi International Case Competition in Hong Kong. Students also participated in an online simulation hosted by Stockholm School of Economics, and Riga, Latvia.
SPECIALIZATIONS A majority of the students participating in exchanges and study tours are complementing their studies in specialized international programs. Along with the MBA specialization in International Business, we offer three double degree programs with: EDHEC in Paris, France WHU Koblenz in Germany Nagoya University in Japan The undergraduate program offers four relevant international majors: International Business Latin American Studies
European Studies East Asian Studies
The Alberta Bilingual BCom, created in 1998, also draws students from around the world to take advantage of this unique offering in collaboration with Campus Saint Jean. There are presently 125 students registered in these undergraduate programs.
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GLOBAL RECOGNITION - AACSB
First and longest continually accredited Business School in Canada
The Alberta School of Business has once again maintained accreditation status from the AACSB International – the premier global accreditation body for business schools.
• S tudent satisfaction levels are exemplary due to high-quality teaching and extensive opportunities for engagement with faculty and the business community.
First accredited in 1968, the Alberta School of Business was the first business school in Canada to receive AACSB accreditation.
• The depth of resources available to support faculty research and students is very extensive. The external community was aware and laudatory about the research emphasis.
AACSB accreditation is the hallmark of excellence in business education and has been earned by less than five percent of the world’s business schools. Today, there are 607 business schools, in 38 countries that are members of the AACSB including 36 Canadian schools. Of the 36 Canadian business schools 18 are now accredited with the University of Victoria receiving their initial accreditation this year. Achieving accreditation is a process of rigorous internal and external review, evaluation, and adjustment and can take several years to complete. Schools need to apply to maintain their accreditation every five years. The Alberta School of Business hosted a three-member peer review team in November with the official announcement received on January 17 in which the School was commended on the following strengths and effective practices:
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• C entres of applied research are vibrant providing a primary bridge to the community and a path to fulfilling the policy element of the mission. • T he School has achieved a high level of connectedness to alumni and the broader business community. The Business Advisory Council is active, supportive, and engaged, and alumni are proud and involved. • Congratulations! The School is remarkably successful. Having developed world-class business research and education is important for Alberta and Canada.
CHINA, INDIA, ASIA Executive Training The Alberta School of Business has launched an executive Master in Financial Management program. The program was launched in Calgary in September 2011 and is in the final stages of approval for it to be offered at Xian Jiaotong University in China in September 2012, and in Shanghai thereafter. The School has a 27-year relationship with Xian Jiaotong that started in 1984 with a CIDA-funded project for developing business education in China. The School’s Centre for International Business Studies (CIBS) continues to be the lead in organizing and executing shorter duration, customized international training programs. This year, the Centre has seen a growth in the range of cohorts from abroad. CIBS has continued to offer programs in public administration, regulatory management, and government services management for officials from China. Of particular note was a program for 20 candidates from China’s National Audit Office, who pursued a five-month program of advanced training in environmental auditing. The Centre continued to provide programs in strategic management of oil and gas resources for senior petroleum managers from Asia (India) and Latin America (Bolivia). In partnership with other divisions of the University, we also organized technology-based education tours for directors from India (Petrotech Society), and Korea (Chungnam National University).
On November 9, 2010, Katherine Tsang, ’78 BCom, Chairperson for Greater China at Standard Chartered Bank, a leading United Kingdom-based international bank, and newest GAP board member would once again travel from Hong Kong to San Francisco to attend her third board meeting in less than three months. On November 10, 2010, Katherine would return to her alma mater for the first time in 32 years to give the Eldon Foote Lecture in International Business entitled “Playing it Right in China: Navigating Asia’s New Business Landscape.” On November 11, 2010, GAP Inc., operator of more than 3,000 clothing shops, would open its first store in China and begin on-line sales to tap the country’s almost 400 million Internet users.
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Bachelor of Commerce, MBA, Executive Education, PhD 14
Bachelor of Commerce FLEXIBILITY, RESPONSIBILITY, GUIDANCE The undergraduate program in Business continues to be academically challenging and provides students with exceptional opportunities for student engagement. • W e continue to attract highly-qualified domestic and international students – 848 new students with a mean GPA of 3.4. • We continue to impress – 97% overall satisfaction – from our annual survey representing a student body of 2,025. • We continue to place students well – 83% three-month placement – for our 694 2010/11 graduates assisted by 1,094 job postings in our Business Career Services Office. An increase of 37% from the previous year. • We continue to be inspired by our students’ participation and leadership with over 20 student clubs, 16 external and five internal case competitions, and 37 international exchange partners, which are highlighted throughout the report.
VALUE + ONE PLUS THREE
The Alberta BCom, a one plus three program, is unique in Canada, in that entry into Business happens in year two, allowing students to build upon their first year of arts or sciences, and provides each student with the flexibility, responsibility and guidance to build his or her own package of human capital. Students also take their first year of business courses in cohort groups of 70 students who will take all their core classes together.
FLEXIBILITY + CORE PLUS MORE
Our program opens with a small core that provides necessary elements for a BCom plus sufficient introductory knowledge to pursue one of five degree programs and choose one of 16 majors. Each major has required elements but, generally, students have the flexibility to develop their focus within the major.
ALBERTA BCOM DEGREES Bachelor of Commerce Bachelor of Commerce After Degree Bachelor of Commerce Co-op Education Bachelor of Commerce Honours Bilingual Bachelor of Commerce
ALBERTA BCOM MAJORS In order of enrolment: Accounting Finance Marketing Business Economics and Law Human Resources Management and Organization International Business Business Studies Entrepreneurship Management Information Systems Operations Management East Asian Studies NEW - Natural Resources, Energy and the Environment Retailing Latin American Studies European Studies
Fasttrack, Physicians, finance
The Alberta MBA mission is to be globally recognized as a leading business school: to attract and retain the best qualified diverse MBA students; to deliver exceptional general and specialized business education through excellent research-informed teaching; to prepare students for the global economy; and to graduate high-quality MBA students and place them well. In 2010/11, we congratulated 146 graduates. Their three-month placement rate is 84%. The Alberta MBA offers five MBA delivery options with healthy 2011 enrolments: full time (65), part time (44), Executive (21), Fort McMurray (33) and NEW, in 2010, FastTrack, a unique one-year option for students with undergraduate business degrees (35). We now manage close to 500 students at the MBA level. Currently, there are five combined degree options: MBAJD (Law), MBA/MEng (Engineering), MBA/MF (Forestry), MBA/MAg (Agriculture), and NEW, in 2011, MBA/MD. There are also five specializations: Finance, Natural Resources Energy and the Environment, Technology Commercialization, International Business, Public Policy and Management, and NEW, in 2011, one stream in Sustainability.
INNOVATIVE PROGRAMMING – MFM
Building on our strengths in accounting and finance our new Master of Financial Management (MFM) was launched at the University of Alberta Calgary Centre in Calgary in September 2011 with future expansion planned for China. The program complements the skills of individuals with a CFA or a professional accounting designation.
EXECUTIVE MBA – Top 50 Globally
The prestigious Financial Times of London ranked the joint U of A / U of C Executive MBA program 48th globally and fourth in Canada in its international rankings of 100 EMBA programs. The program outranked all Canadian schools in the “aims achieved” category, which measures the extent to which alumni fulfilled their goals or reasons for enroling in an EMBA program. The joint Alberta/Haskayne Executive MBA program is now offered in both Edmonton and Calgary with a stand-alone Edmonton co-hort introduced in 2007. All students in Edmonton were provided iPads this year for accessing course materials.
ONE FOUNDATION: CORPORATE SOCIAL RESPONSIBILITY
Master of Business Administration
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ACCOUNTING, FINANCE, MARKETING, STRATEGY
ACCOUNTING
FINANCE
Chair, Karim Jamal – CA Distinguished Chair in Accounting
Chair, Vikas Mehrotra – AF (Chip) Collins Professorship in Finance
The Alberta School of Business began as a School of Accountancy 95 years ago. Accounting remains a core area of study within the school and continues to be the #1 choice of major at the under-grad level where many students pursue careers in professional accounting. Obtaining professional designations at the MBA level are also available including CA, CGA, CMA, CMC, and CFA.
We continue to house one of North America’s leading departments specializing in corporate governance and corporate finance.
Accounting, Operations & Info Systems
David Cooper – CGA Alberta Chair in Accountancy. Ray Patterson – Fellow in Management Information Systems Florin Sabac – Canada Research Chair in Accounting Theory. Tom Scott – Accounting Standards Board of Canada – 1997-2011
SPOTLIGHT:
ETHICS
Jim Gaa received a national award from the CGAs for his 25 years of contribution to the profession. Jim, who holds PhDs in both Philosophy and Accountancy, teaches the course “Information, Ethics, and Society.” 16
Finance & Statistical Analysis
Randall Morck – Stephen A Jarislowsky Chair in Finance Jarislowsky Fellows – Mark Huson, Aditya Kaul, Vikas Mehrotra Mark Huson – Pocklington Professorship in Free Enterprise Felipe Aguerrevere – Faculty Fellow in Finance Aditya Kaul – Life Underwriters Fellow We would all like to recognize the valuable 30 years of service of Keltie Tolmie, Department Administrator.
SPOTLIGHT:
GOVERNANCE
University Professor Randall Morck was a 2011 recipient of the (five-year) Bank of Canada Fellowship. “Professor Morck’s innovative research is highly relevant to the Bank’s work in monetary policy and financial stability,” shared Bank of Canada Governor Mark Carney.
STRATEGY
Chair, Adam Finn – Ronald K Banister Chair in Business
CHAIR, YONATAN RESHEF
The University of Texas-Dallas released their Top 100 World Rankings of Business Schools based on marketing research contribution in 2010-2011. The Alberta School of Business placed 23rd globally, number one in Canada.
Strategy, critical thinking, and leadership, are key areas of study. Our most prolific research unit, the group also provides leading research in the areas of technology commercialization and professional service firm management. Entrepreneurship and family enterprise is enhanced by Jennifer Jennings, McCalla Research Professorship.
Marketing, Business Economics, & Law
In addition to Marketing, Business Economics, and Law, the department also houses the speciality areas of Energy Economics, Retailing, and International Business. Economic rigour is a strong common denominator. The department also supports several applied research centres in the School who are keenly involved in providing critical public policy and media commentary.
SPOTLIGHT:
ENVIRONMENT
Joseph Doucet, Enbridge Professor of Energy Policy, was one of twelve international experts named to the Government of Alberta panel to help create a world-class environmental monitoring system for Alberta’s oil sands.
Strategic Management & Organization
Congratulations to Professor Emeritus Bob Hinings who received an honourary degree from the Université de Montréal. His work in the 60s and 70s won him worldwide recognition in the fields of organizational structure, power and change. Bob remains a keen researcher and continues to work with Trish Reay on healthcare.
SPOTLIGHT:
CLEAN TECH
New electives and new knowledge are ever evolving. Developed by Dev Jennings, our Francis Winspear Professor of Business, Clean Technology, is designed to fit within three areas of graduate study – technology development and transfer, strategy, and sustainability.
ONE FOUNDATION: CORPORATE SOCIAL RESPONSIBILITY
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ENERGY
FAMILY
Canada Research Chair (Energy) – Ujjayant Chakravorty Chair – International Water & Resources Economics Consortium
Chair of Entrepreneurship and Family Enterprise – Lloyd Steier 2010 Hollander Award – Leadership in Family Business
Centre for Applied Business Research and the Environment Academic Director, Joseph Doucet – Executive Director, Richard Dixon
Family firms – dominant form of economic organization worldwide.
A YEAR OF WATER
Public Policy – Applied Research Projects – Student Internships Water Protection, Water Governance, Clean Air, Utilities City of Yellowknife – Community Geothermal Heating Project MBA – Natural Resources, Energy and the Environment (NREE) NREE specialization celebrates ten years – 120 graduates Study tours to England and Norway – 2011 NEW – U of A Energy Club – Oil sands Visionaries’ Series
A Year of Pathways
Centre for Entrepreneurship and Family Enterprise Family Enterprise Conference – 2011 WHU, Germany – 2012 U of A Undergraduate Major Entrepreneurship: NEW – Next Generation Club BCom and MBA courses including European Field Trip CEFE Student Business Competition – students win three categories – Technology, Family Enterprise, and Open Innovation. The competition featured 215 participants, nine institutions, and 84 business plan teams.
Executive Education – Energy 101 and a three-week customized program for the Universidad de los Andes – Bogata, Colombia
Alberta Business Family Institute – Shauna Feth – Executive Director NEW – Success Story – Creating Pathways for Entrepreneurial Families: Rural Alberta Development Fund 2011: 51 programs – 949 urban participants – 2,166 rural participants Best Attended – Celebrating Women’s Conference, Camrose – 475 In Development – Passing the Torch – The Trusted Advisor – Case, Web-Based and Video Programs
2011 EPCOR Lecture – National Water Strategy for Canada
2011 Signature Event – Edmonton and Calgary – The Stanton Family
NEW – NREE undergraduate major NEW – Commerce Energy and Environment Group NEW – Inaugural Alberta Energy Challenge competition
RETAILING
Stephen A Jarislowsky Chair in Finance – Randall Morck Frontiers in Finance – Banff Invitational – Leading Minds
Canada Research Chair (E-Commerce) – Gerald Häubl NEW – Stan Melton Chair in Real Estate – David Dale-Johnson
BCom: Gary Smith, Executive Professor PRIME – student-run investment fund – C$1.2 million Final Four – CFA Institute’s Global Investment Research Challenge, Nebraska Top Undergraduate Team – Rotman International Trading Competition Alberta BCom – First CFA partnership in Western Canada
20 years of retailing excellence School of Retailing established 2006 Canadian Institute of Retailing and Services – 1991 – 2005 Academic Director, Kyle Murray and Executive Director, Paul McElhone
A Year of Firsts
MBA: Amit Monga, Executive Professor, MBA Finance Specialization First Place – Financial Executives International Case Competition First year of AIMCo internships and second AIMCo-sponsored course with visiting professor Ryan Orr – Stanford. Executive: NEW – Masters of Financial Management – Calgary NEW – Financial Leadership Summit – February 2011 and October 2012 Institute of Corporate Directors – Directors Education Program 2011 Princeton Lecture in Finance: William R White, OECD, Paris
A Year of Celebration
20 years of Henry Singer AWARDS Eleven former recipients return to celebrate with Heather Reisman Research Award – Professor Adam Finn Alumni Award – Nelson Tonn, Fountain Tire BCom Major and Minor – 30 students – MBA specialization proposed Internship Program – 18 students – Field Trip Vancouver – 9 students Career Fairs, Co-op, Executives in Residence, Executive Round Table NEW – Women in Retailing Network Industry Leader Partners – 27 – NEW – ATB FInancial, Home Depot, Integra Tire, London Drugs, Loblaw Supporting Sponsors – ICSC and Retail Council of Canada 2011 Henry Singer Award: Heather Reisman, CEO, Indigo
ONE FOUNDATION: CORPORATE SOCIAL RESPONSIBILITY
FINANCE
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Bachelor of Commerce, MBA, Executive Education, PhD 20
Executive Education 5000+ participants, 500+ dayS
Over this past year, and within an ever changing economic environment, Executive Education has continued working with Canadian organizations to find innovative and creative ways to ensure learning, discovery, and citizenship continue at world-class levels. We proudly remain a partner in helping private and public-sector organizations strengthen the capacity of their people, projects, and communities.
In 2004/05, we delivered 319 instructional days compared to 544 in 2010/11. Of these, our delivery locations outside of Edmonton have increased from 14 days per year to 148 per year.
From our three locations in Alberta – Stollery Executive Development Centre, Enterprise Square, U of A Calgary Centre – and throughout northern and western Canada, Executive Education has grown considerably.
Accordingly, we have added multiple new programs to our client roster including Energy 101, Retail Essentials Program, Business in Dentistry, and Business Leadership for Technical Professionals. We have also developed new customized programs for: McCoy Corporation, Williams Engineering, The Edmonton Journal, Wilde & Company, SERVUS, JV Driver, Alberta Blue Cross, and more.
We are the second largest Canadian provider of executive programs outside of Ontario (based on annual participants).
We have expanded from just shy of 3300 participants a year to over 5000 and have grown our annual course delivery from 26 programs to 38 programs.
Executive Program: For senior executives, four two-day modules: Visioning, Mission, Strategy, and Execution. Post-Graduate Program: For Government of Alberta managers who have graduated from Management Development and Senior & Executive Managers’ Development programs. Financial Leadership Summit: Helping showcase our world-leading Finance faculty with speakers from Deutsche Bank, Standard & Poor’s, and ICICI Bank of Canada, the first summit was successfully launched to an enthusiastic group of senior financial leaders from across western Canada. A second summit will be held in October 2012. Energy Finance and Regulation: For executives within financial institutions, energy, and regulatory bodies, an Energy Symposium is planned for March 2012. Corporate Social Responsibility: An Executive Education CSR stream has also just been established with full program rollout in 2012.
INTRINSIC to a strong research culture
Our mission is to deliver excellence in those areas of research in which the Alberta School of Business seeks to excel and ensure business students are capable of conducting research and publishing in top research outlets substantial research that makes a difference in their areas of study. The PhD program offers majors in Accounting, Finance, Operations and Information Systems, Marketing, and Strategic Management and Organization. In September 2010, we accepted eleven students into the program; five students were accepted in September 2011, joining an overall program size of 55 students. The international reputation of our program resulted in eight students from overseas spending time at the School. In the summer of 2010, we created a tailored PhD summer course for 20 graduate students from the Catholic University of Milan which was repeated in 2011. The international reputation of our program was also buoyed by the placement of fifteen students who graduated in 2010/2011 despite entering a tight labour market including: Keri Kettle (Marketing) – University of Miami; Cagri Topal (Organizational Analysis) – Middle East Technical University; Murat Usta (Marketing) – Middle East Technical University; Fang Wu (Marketing) – Shanghai University of Finance and Economics; and Tyler Wry (Organizational Analysis) – University of Pennsylvania (Wharton School), the #1 ranked business school in the world by the Financial Times of London.
“The Alberta School of Business has the best collection of institutional theorists in the world. I have had amazing opportunities to work with giants in my field. My research has benefited immeasurably from common projects and casual coffees with Mike Lounsbury (my supervisor), Royston Greenwood, Dev Jennings, Roy Suddaby, and David Deephouse . . . “, said Tyler, whose program focused on the commercialization of nanotechnology.
Best International Paper Tyler and classmate Eric Zhao also won the Best International Paper, and later, the Best Overall Paper, from the Organization and Management Theory Division of the Academy of Management, for “Societal patriarchal logics and the emergence of microfinance organizations.” “Eric is simply brilliant” shared Tyler.
ONE FOUNDATION: CORPORATE SOCIAL RESPONSIBILITY
DOCTOR OF PHILOSOPHY
Institutional Theory
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“ Academia . . . is an extension of entrepreneurship if done right. The University of Alberta does it right.” Tyler Wry, ’11 PhD, Assistant Professor of Entrepreneurship, Wharton School, Pennsylvania
Michael Lounsbury:
Royston Greenwood:
Associate Dean Research, July 1, 2011
Associate Dean Research, 1997 - 2011
Thornton A Graham Chair
Telus Chair in Strategic Management
A proponent of multi-disciplinary research,
During his time as Associate Dean,
Michael is a Principal Investigator at the
Royston believed that providing mentoring
National Institute of Nanotechnology,
opportunities that enabled established faculty
has an adjunct appointment with the
members to work with doctoral and post-
Department of Sociology, is Director of
doctoral students was imperative to foster
the Technology Commercialization Centre,
academic excellence. An inductee of the
and has championed the MBA technology
Fellows Group of the International Academy
commercialization specialization. Joining
of Management, the world’s largest and
the School from Cornell University in 2005,
most prestigious academic body for the study
Michael soon received the U of A’s Petro-
of management, Royston is also a visiting
Canada Young Innovator Award, and in
professor at Oxford University where he still
2010 was the first business recipient of
spends one month per year working with
the U of A’s Martha Cook Piper Research
post-doctoral research students and faculty.
Prize – established to recognize outstanding
Royston was awarded the U of A’s highest
accomplishment and demonstrated promise
research award – The J Gordin Kaplin Award
as a researcher.
for Excellence in Research – in 2006.
Tyler’s former classmates and professors: Mia Raynard, Evelyn Micelotta, Michael Lounsbury, Royston Greenwood, and Eric Zhao
FINANCIAL TIMES
WORLD’S TOP TIER
Publications List 2011 and Forthcoming
Author Name
Article Name
Journal Name
Chang, E.P.C., Chrisman, J.J., Kellermanns, F.W.
The relationship between prior and subsequent new venture creation in the United States: A county level analysis
Journal of Business Venturing
Chen, M-J., Miller, D.
The relational perspective as a business mindset: Managerial implications East and West
Academy of Management Perspectives
Chua, J.H., Chrisman, J.J., Kellermanns, F.W., Wu, Z.
Family involvement and new venture debt financing
Journal of Business Venturing
Dogan, K., Ji, Y., Mookerjee, V.S., Radhakrishnan, S.
Managing the versions of a software product under variable and endogenous demand
Information Systems Research
Fisher, R.J., Gregoire, Y., Murray, K.B.
The limited effects of power on satisfaction with joint consumption decisions
Journal of Consumer Psychology
Kettle, K., Häubl, G.
The signature effect: Signing influences consumption-related behaviour by priming self-identity
Journal of Consumer Research
Kurt, D., Inman, J.J., Argo, J.J.
The influence of friends on consumer spending: The role of agency-communion orientation and self-monitoring
Journal of Marketing Research
LeBreton-Miller, I., Miller, D., Lester, R.
Stewardship or agency? A social embeddedness reconciliation of conduct and performance in public family businesses
Organization Science
Liu, R., Feils, D.J., Scholnick, B.
Why are different services outsourced to different countries?
Journal of International Business Studies
Ma, Y., Ailawadi, K.L., Gauri, D.K., Grewal, D.
An empirical investigation of the impact of gasoline prices on grocery shopping behavior
Journal of Marketing
McLean, D.
Share issuance and cash savings
Journal of Financial Economics
Mehrotra, V.
Angel agents: What we can (and cannot) learn from Pierre Lefaucheux’s stewardship of Régie Renault
Academy of Management Perspectives
Mehrotra, V., van Schaik, D., Spronk, J., Steenbeek, O.
Creditor-focused corporate governance: Evidence from mergers and acquisitions in Japan
Journal of Financial and Quantitative Analysis
Miller, D., LeBreton-Miller, I., Lester, R.H.
Family and lone-founder ownership and strategic behaviour: Social context, identity and institutional logics
Journal of Management Studies
Miller, D., Sardais, C.
Angel agents: Agency theory reconsidered
Academy of Management Perspectives
Morck, R., Yavuz, D., Yeung, B.
Banking system control, capital allocation, and economy performance
Journal of Financial Economics
Qi, Y., Roth, L., Wald, J.K.
How legal environments affect the use of bond covenants
Journal of International Business Studies
Suddaby, R., Hardy, C., Huy, Q.N.
Where are the new theories of organization: Introduction to the special topic forum
Academy of Management Review
Trudel, R., Murray, K.B.
Why didn’t I think of that? Self-regulation through selective information processing
Journal of Marketing Research
Westphal, J.D., Deephouse, D.L.
Avoiding bad press: Interpersonal influence in relations between CEOs and journalists and the
Organization Science
consequences for press reporting about firms and their leadership Wiedman, C., Scott, T., Wier, H.
Transaction structuring and Canadian convertible debt
Contemporary Accounting Research
Wry, T., Lounsbury, M., Glynn, M.A.
Legitimating nascent collective identities: Coordinating cultural entrepreneurship
Organization Science
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FT RANKINGS 46
RESEARCH th
Author Name
Globally
5th in Canada
Article Name
Journal Name
Argo, J.J., Shiv, B.
Are white lies as innocuous as we think?
Journal of Consumer Research
Argo, J.J., White, K.
When do consumers eat more? The role of appearance self-esteem and food packaging cues
Journal of Marketing
Chrisman, J.J., Chua, J.H., Pearson, A.W., Barnett, T.
Family involvement, family influence, and family-centred non-economic goals in small firms
Entrepreneurship Theory & Practice
Cooper, D.J., Qu, S.
The role of inscriptions in producing a balanced scorecard
Accounting Organizations and Society
Dahl, D.W., Argo, J.J., Morales, A.C.
Social information in the retail environment: The importance of referent identity, product consumption, and self-esteem
Journal of Consumer Research
Dellaert, B., H채ubl, G.
Searching in choice mode: Consumer decision processes in product search with recommendations
Journal of Marketing Research
Di Muro, F., Murray, K.B.
Arousal congruency and consumer choice
Journal of Consumer Research
Ge, X., H채ubl, G., Elrod, T.
What to say when: Influencing consumer choice by delaying the presentation of favorable information
Journal of Consumer Research
Huson, M., Tian, Y., Wier, H.
Compensation committees' treatment of earnings components in CEOs' terminal years
The Accounting Review
Jamal, K., Sunder, S.
Is mandated independence necessary for audit quality?
Accounting Organizations and Society
Le Breton-Miller, I., Miller, D.
Family firms and the advantage of multi-temporality
Entrepreneurship Theory & Practice
McLean, D., Zhang, T., Zhao, M.
Why does the law matter? Investor protection and its effects on investment, finance, and growth
Journal of Finance
Mehrotra, V., Morck, R., Shim, J., Wiwattanakantang, Y.
Must love kill the family firm? Some exploratory evidence
Entrepreneurship Theory & Practice
Miller, D.
A reflection on EO research and some suggestions for the future: Miller (1983) revisited
Entrepreneurship Theory & Practice
Miller, D., LeBreton-Miller
Governance, social identity and entrepreneurial orientation in closely held public companies
Entrepreneurship Theory & Practice
Moore, S.G.
Some things are better left unsaid: How word of mouth influences the storyteller
Journal of Consumer Research
Moore, S.G., Neal, D.T., Fitzsimons, G.J., Shiv, B.
Wolves in sheep's clothing: How and when hypothetical questions influence behavior
Organizational Behavior and Human Decision Processes
Murray, K.B., H채ubl, G.
Freedom of choice, ease of use, and the formation of interface preferences
MIS Quarterly
Salzarulo, P., Bretthauer, K.M., Cote, M.J., Schultz, K.L.
The impact of variability and patient information on healthcare system performance
Production & Operations Management
Schneider, T.
Is environmental performance a determinant of bond pricing? Evidence from the US pulp and paper and chemical industries
Contemporary Accounting Research
Sethi, S., Ji, Y., Kumar, Mookerjee, Yeh
Optimal enhancement and lifetime of software systems: A control theoretic analysis
Production & Operations Management
Smets, M., Morris, T., Greenwood, R.
From practice to field: A multi-level model of practice-driven institutional change
Academy of Management Journal
Usta, M., H채ubl, G.
Self-regulatory strength and consumers' relinquishment of decision control: When less effortful decisions are more resource depleting
Journal of Marketing Research
White, K., Argo, J.J.
When imitation doesn't flatter: The role of consumer distinctiveness in response to mimicry
Journal of Consumer Research
Zellweger, T.M., Kellermanns, F.W., Chrisman, J.J., Chua, J.H.
Family control and family firm valuation by family CEOs: The importance of intentions for transgenerational control
Organization Science
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JENNIFER ARGO:
INAUGURAL AWARD FOR INNOVATIVE CONSUMER RESEARCH Congratulations to Jennifer Argo, winner of the inaugural Association for Consumer Research’s Early Career Award for Contributions to Consumer Research, a new international award that honours the contributions of consumer behaviour researchers who received a PhD less than eight years ago. The criteria used to determine contributions include innovation, methodology, and the potential to substantially advance our understanding of consumer behaviour. Jennifer’s research is focused on the relatively new areas of social influences, emotions, and social marketing, and she is quickly emerging as a leader in these areas often attracting international academic and media attention as it underlines the psychological nuances of our everyday consumer lives. Jennifer produced five FT publications in 2011 – 14 in her career to date. Her 2011 titles include: Jennifer Argo
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How Shopping with Friends Promotes Consumer Spending Social Information in a Retail Environment: the Importance of Referent Identity, Product Consumption, and Self-Esteem When Imitation Doesn’t Flatter: The Role of Consumer Distinctiveness in Response to Mimicry Are White Lies as Innocuous as We Think? When Do Consumers Eat More? The Role of Appearance Self-Esteem and Food Packaging Cues Jennifer received her PhD in Marketing in 2003 from the University of Manitoba. That same year, she joined the Alberta School of Business as an Assistant Professor, became an Associate Professor in 2007, and was a Visiting Professor at Duke University in 2009. Jennifer was promoted to full professor in 2011 and now holds an endowed chair: George M Cormie Professor of Business.
SSHRC – A Central Component of Canadian Innovation The Social Sciences and Humanities Research Council is Canada’s primary federal funding agency for academic research and continues to strategically support independent thinking and creative inquiry. In 2010/11, the School was awarded $750,000 for the following projects: Jennifer Argo The silent influencer: The impact of mannequins in a retail context Ujjayant Chakravorty Distributional impacts of biofuel mandates Adam Finn New models for measuring multi-faceted and multi-dimensional constructs in marketing Aditya Kaul New evidence on the determinants of mutual fund flow Michael Maier Does fair value accounting discipline markets or increase volatility and destabilize markets? Co-Investigators – Karim Jamal and Thomas Schneider.
Sarah Moore Linguistic mimicry in online word of mouth. Randall Morck Examination of regional brain changes occurring during cognitive choices: An fMRI study utilizing an investment paradigm Peter Popkowski Leszczyc Competition between auctions: Implications for auction design and bidder and seller strategies. Co-Investigator – Yu Ma. Joyce Tian Subjective performance measures for managerial control and evaluations. Co-Investigator – Florin Sabac Heather Wier Who stopped using options? Co-Investigator – Mark Huson.
Michael Lounsbury – Co-Investigator – Royston Greenwood Governing nanotechnology risk: Creating the nanotechnology research field. Largest grant – $136,529 – Ranked #1 of 119 applications.
ACADEMIC MILESTONES The 2010/11 Faculty Evaluation Committee was pleased to announce that the following faculty were awarded tenure: STRATEGY – Michelle Inness – PhD, Queen’s University Research Areas: Work and Well Being, Workplace Aggression, Workplace Safety ENERGY – Andrew Leach – PhD, Queen’s University Research Area: Environmental Economics FINANCE – David McLean – PhD, Boston College Research Areas: Corporate Finance, Law and Finance, Limited Arbitrage OPERATIONS MANAGEMENT – Ken Schultz – PhD, Cornell University Research Areas: Behavioural Issues and Operations FINANCE – Akiko Watanabe – PhD, Yale University Research Areas: Asset Pricing and Market Microstructure.
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Behind every leading economy is a leading business school. Behind every leading business school are leading alumni, students, faculty, and community builders.
Past, Present, Future
PreservING OUR Name
Ralph Young: Vice-Chair, Business Advisory Council Founder, Preservation of the Name Campaign Reunion Organizer, ‘71 MBA class Ralph and Gay Young MBA Internal Case Competition
In 2009 we launched a $20 million Preservation of the Name campaign. In 2010 the conclusion of the campaign was celebrated. In 2011 our Founders Wall was unveiled.
Chris Grey: President, Business Alumni Association Highlight: BAA Scholarship Endowment Fund Loren Miller: President, MBA Association
We wanted to contribute to the legacy that Kate`s great-grandfather Alexander Rutherfod, established when he started the University of Alberta. We have a wonderful opportunity to produce world-class graduates capable of building world leading businesses, and we should do everything possible to see that we make it happen.
Highlight: Champions, MBA Games Founders, Terry and Kate Freeman Kim Menard: President, Business Students’ Association Highlight: Five Days for the Homeless
Alberta School of Business - University of Alberta. ALBERTA. Always has been - Always will be.
Present and Future Alumni: Chris Grey, President BAA; Ralph Young, Vice-Chair, BAC; Loren Miller, President MBAA and Kim Menard, President BSA.
EXCELLENCE
SCHOLARS IN COMPETITION
One of the drivers of a great business school is how well our students compete against their peers and how they are judged by industry. At the Alberta School of Business, our students drive for success. Marketing students Michael Heines and Maya Cieszynska are Canada’s Next Top Ad Execs and winners of two new Chevrolet Sonics.
MARKETING – WINNERS
Canada’s Next Top Ad Execs – Toronto Manitoba International Marketing Competition – Winnipeg
FINANCE – CHAMPIONS
CFA Institute’s Global Investment Research Challenge: – Canadian Prairies Region and Final Four The Americas – Nebraska First Place – Financial Executives International Canada – Toronto
STRATEGY – FIRST PLACE
John Molson Undergraduate Case Competition – Montreal Founders and Winners of inaugural Edge Competition – Edmonton
INTERNATIONAL BUSINESS – TOPS Top Canadian Team: Rotman International Trading Competition – Toronto
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WELCOME TO EDMONTON U of A WINNERS 2011 – HOSTS 2012 MBA GAMES – largest MBA competition in all of Canada
MBA Games 2011 #1 in Academics – First Overall Hosted by McMaster University
CELEBRATING SCHOLARSHIP Congratulations Students
Undergraduate – 178 Awards – $393,976 $4,211,871 Endowed Scholarship Funds Graduate – 64 Awards – $252,950 $2,933,750 Endowed Scholarship Funds
MBA Games 2012 – INTO THE FUTURE
Thank you to our Donors
Hosted by University of Alberta – January 6 to 8
NEW – Rick Hyndman Scholarships
JDC WEST – largest BCom competition in western Canada
JDC West 2011 #2 in Academics – Fourth Overall Hosted by University of Saskatchewan
JDC West 2012 – FUELING PRODUCTIVITY Hosted by University of Alberta – January 13 and 14
The Dr Richard (Rick) Hyndman MBA Entrance Scholarships in Energy, Environment and Public Policy will be awarded annually to students entering their first year of full or part-time study in the MBA program. This award has been generously established by the friends of Rick Hyndman to recognize his impact on, and contribution to, both his profession and community. Those wishing to demonstrate their appreciation for Dr Hyndman by donating to his scholarship fund may do so by contacting nella.sabo@ualberta.ca
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ENGAGEMENT
Alumni and Mentorship – Students and Community
Alumni engagement is a long-standing tradition and includes support of the Edmonton-based Business Alumni Association (BAA), which was honoured with a 2010 nomination for Best Service Club as part of National Philanthropy Day. The BAA represents over 23,000 alumni with branch representation in Calgary, Ottawa, Toronto, and Vancouver. Along with hosting local, provincial and national networking events, international alumni events were held in London, England; Palm Springs, San Francisco, and Sonoma, California; and Paradise Valley, Arizona. A steering committee has also been struck to establish a year-long campaign of events across the globe to celebrate the BAA’s 25th anniversary in 2012/13.
Young Alumni Mentorship Program
Annual highlights include:
The Alberta School of Business Women’s Network was also established by a distinguished and diverse group of seven from Edmonton, Calgary, Kelowna, and Toronto. The inaugural event, a competition entitled “Chocolate and Challenging Yourself,” saw the three student winners of a video competition, selected by a national alumni committee, win a trip to Vancouver to join three of the mentors for discussion, dialogue, drinks, and dessert.
BAA Golf Classic – September 15, 2011 – another sell-out in support of the BAA Scholarship Endowment fund. BAA Dinner – November 16, 2011 – Edmonton’s Balancing Act: Finding the Good in Growth - A Panel Discussion Mentorship – The MBA Mentorship Program celebrates its ten year anniversary in 2011 with 48 pairings between students and graduates.
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Building on the success of the MBA program, a BCom Mentorship Program was established this year to help connect recent BCom grads (0 – 5 years) with more seasoned alumni (5+ years). Twenty-seven mentors have already been identified with two protégés seeking mentors in London, England, and New York and one mentor seeking a protégé in Abu Dhabi. Protégés are also being sought in Edmonton, Calgary, and in Brampton, Ontario. Alberta School of Business Women’s Network
GOOD TO GREAT
NET IMPACT AWARDED GOLD STANDING ALBERTA MBA THIRD IN CANADA FOR CSR
The MBA Net Impact Edmonton Chapter achieved Gold chapter standing – a designation bestowed to only 13% of over 180 graduate student Net Impact chapters world wide – a significant achievement which was followed by the Alberta MBA being recognized by Corporate Knights magazine as in the top three business schools in Canada for training the future business workforce to adhere to principles of social responsibility. “This is an incredible achievement by our Net Impact group. I would point out that we are the first business school in Canada to achieve this outstanding designation and it places us in the ranks of the very elite business schools globally: HEC Paris, Northwestern, Duke, Michigan, and Yale,” said Roy Suddaby, Academic Director of the Canadian Centre for Corporate Social Responsibility, champion of the new MBA stream in sustainability, and Eldon Foote Chair in Law and Society. Another highlight was the performance of Melissa Creech, Marian Gayed, Lisa Hryniw, and Joanne Pattison, in the Net Impact Good to Great Case Competition – one of five teams shortlisted – along with Berkeley, Duke, Cornell, and Yale – to present their cause to Jim Collins, best-selling author of Good to Great.
STUDENT CLUBS Accounting Club AIESEC Business and Beyond Toastmasters Club Business Exchange Association Business Finance Association Business Students’ Association Club de Commerce Bilingue Commerce Energy & Environment Group Cooperative Education Students Association Five Days for the Homeless Human Resource Management Club JDC West Team Alberta Management Information Systems Club Operations Management Club PRIME Rocky Mountain Business Seminar Streetlight Canada Student Ambassador Program Students in Free Enterprise U of A Marketing Association NEW - U of A Technology Commercialization
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BUSINESS ADVISORY COUNCIL Judith Athaide, BCom (Hon), MBA, PEng, ICD.D President The Cogent Group Inc Calgary, Alberta
Robert Fisher Professor Alberta School of Business Edmonton, Alberta
Phil Lachambre President PCML Consulting Inc Edmonton, Alberta
Donald J Oborowsky CEO Waiward Steel Fabricators Ltd. Edmonton, Alberta
Don Swystun President, Corporate Development Cenovus Energy Inc Calgary, Alberta
Linda Banister, FCMC, CMRP, ICD.D. President Banister Research & Consulting Edmonton, Alberta
Karl H Funke Owner and President of AMIG Investments GmbH Chairman of the Board of Prueftechnik AG Munich, Germany
Michael Lang Chairman StoneBridge Merchant Capital Calgary, Alberta
Roger Phillips Corporate Director Regina, Saskatchewan
BAC Chairman: Guy J Turcotte Chairman, President and CEO Stone Creek Resorts Calgary, Alberta
Court Carruthers, BCom, MBA, CMA President, Grainger International Mississauga, Ontario Marc de La Bruyère Managing Director Maclab Enterprises Edmonton, Alberta Rosemary Domecki President Domtex Equities Inc Dallas, Texas Paul Douglas President and CEO PCL Constructors Inc Edmonton, Alberta John Ferguson, FCA Chairman, Princeton Ventures Chairman, Suncor Energy Inc Chancellor and Chairman Emeriti of the University of Alberta Board of Governors Edmonton, Alberta
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Brian Heidecker Chair, Board of Governors University of Alberta Edmonton, Alberta Gail L Harding, QC, ICD.D. Senior Vice President, General Counsel, and Corporate Secretary Canadian Western Bank Edmonton, Alberta Carole L Hunt, QC Chief Legal Counsel and Corporate Secretary Alberta Investment Management Corp Edmonton, Alberta Barry James, FCA Managing Partner PricewaterhouseCoopers LLP Edmonton, Alberta
Ruo Hong Li Chairman, China World Peace Foundation Beijing, China Neil Manning President and CEO Wajax Ltd Mississauga, Ontario Gay Mitchell, ICD.D Deputy Chairman RBC Wealth Management Toronto, Ontario Amit Monga, PhD Executive Professor of Finance Alberta School of Business Edmonton, Alberta Dave Mowat President and CEO ATB Financial Edmonton, Alberta
Indira Samarasekera President and Vice Chancellor University of Alberta Edmonton, Alberta Tom Scott Interim Dean and Professor Alberta School of Business Edmonton, Alberta Duncan Sinclair Managing Partner Deloitte Edmonton, Alberta Fred Singer Executive Chairman Henry Singer Fashion Group Ltd Edmonton, Alberta Alfred Sorensen 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
ALBERTA SCHOOL of BUSINESS
2010
A L B E R TA
Annual Review
GOLD ANNUAL REVIEW The 2010 Annual Review celebrated the name Alberta and used iconic Alberta images to represent the Province’s, and School’s, heights of excellence, rivers of resources, streams of knowledge, and
BUSINESS ALUMNI ASSOCIATION Jennifer Bergman, ’07 BCom Director + Lead Planner Jennifer Bergman Weddings
Jami Drake Manager, Alumni Programs Alberta School of Business
Michael Richard, ’06 BCom Investment Advisor Canaccord Wealth Management
Bill Blais, ’98 BCom Vice President, Land Development Maclab Enterprises
Christopher C. Grey, ’95 MBA BAA President Investment Advisor and Financial Planner RBC Dominion Securities Inc.
Rob Veronovici, ’99 BCom Manager, Operations and Performance, Retail Food Services Alberta Health Services
Jay Krushell, ’97 MBA, ’98 LLB Witten LLP Allan Mah, ’75 BCom Property Manager, City of Edmonton
John Whitmore, ’05 BCom Assistant Branch Manager RBC Dominion Securities Inc. Branch Representatives:
Cheng-Hsin Chang, ’06 MBA BAA Vice President Financial Security Advisor Freedom 55 Financial
Kimberley Menard President, Business Students’ Association Alberta School of Business
Derek Bennett, ’68 BCom - Vancouver Director of Human Resources Layfield Group Limited
Elke Christianson Assistant Dean, External Relations Alberta School of Business
Loren Miller President, MBA Association Alberta School of Business
Lee Close, ’85 BCom - Ottawa Vice-President Transaction Advisory Services Ernst & Young LLP
Sean Collins, ’09 BCom President Ether Strategy
Kristan Morin, ’08 BCom BAA Secretary Student Recruitment Advisor University of Alberta Faculty of Nursing
Jeff Schellenberg,’04 MBA,’05 LLB - Toronto Vice President, Investment Banking Merrill Lynch Canada Inc.
Rob Parks, ’99 MBA U of A Alumni Council Representative RC Strategies
Karen Taguchi, ’86 BCom - Calgary Marketing Manager KPMG LLP
Ross Bradford, ’79 LLB, ’85 MBA School of Business Faculty Representative Charlene Butler, ’09 MBA Butler Business Solutions Ltd.
fields of dreams, for which it received the Gold Medal at the Council for Advancement and Support of Education conference. Annual Reports 2010 and 2011: Monica Wegner, Alberta School of Business Director of Communications Greg Miller, Backstreet Communications
Adam Cook, ’05 BCom BAA Treasurer Manager, KPMG LLP Commerce Place
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ALBERTA SCHOOL OF BUSINESS Mike Percy Stanley A Milner Chair in Leadership and Development: 1997 - 2011 Tom Scott Vice Dean, and Interim Dean, July 1, 2011 Royston Greenwood Associate Dean Research: 1997 - 2011 Michael Lounsbury Associate Dean Research, July 1, 2011 David Cooper Associate Dean, PhD Program
Adam Finn Chair, Marketing, Business Economics, and Law Karim Jamal Chair, Accounting, Operations and Information Systems Vikas Mehrotra Chair, Finance and Statistical Analysis
Joan White Associate Dean, MBA Program
Yonatan Reshef Chair, Strategic Management and Organization
Elaine Geddes Associate Dean, Undergraduate Program
Guy Turcotte Chair, Business Advisory Council
Carolyn Campbell Associate Dean, Executive Education
Chris Grey President, Business Alumni Association
Elke Christianson Assistant Dean, External Relations Mike House Assistant Dean, Development and Stakeholder Relations
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Walter Jull (2010), Loren Miller (2011) Presidents, MBA Association Lacey Suen (2010), Kim Menard (2011) Presidents, Business Students’ Association
The School has a robust endowment fund of
$70 million+, over 200
scholarships that are fully endowed or supported annually, and some reserves to maintain the status quo with respect to achieving our primary
research, teaching, and outreach goals for the next 24 months.
FINANCIALS Source of Funds
University Operating Funds
Statement of Activity and Cash Flows* 2010-11
%
2011-12
Actual Forecast
20,687,925
50.5%
20,482,734
%
* This 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
47.0%
recognize revenue when it is received rather than
Own Source Funds Donations1 1,361,997 1,678,300 Endowment Earnings (exclusive of Centre Endowments) 2,443,139 2,685,603 Executive Education and Executive MBA, MFM, MBA Fort McMurray 6,087,529 7,594,301 Centres & External Services, Events and Applied Research 2,959,369 2,631,997 Research Grants and Contracts 2,944,739 3,060,789 BCom, MBA, & International Dedicated Tuition 2,663,442 3,572,101
when it is pledged or committed.
Government Access Funds
endowed so that only the interest is spent and the
Total Own Source Funds
1,841,332 20,301,547
49.5%
1,841,329 23,064,420
Note 1: The donations line represents cash donations received during the year that are fully and immediately available for spending consistent with the designated purpose of the gift. Cash donations to permanent funds were also received in the amount of $4,628,804.34; these are gifts that are principle measured in terms of general purchasing power is preserved. Finally, the School raised a total
53.0%
of $7,815,498.49 during 2010-11 in pledges, some
of which are included in the cash received, but the Total Sources of Funds 40,989,472 100.0% 43,547,154 100.0% majority of which will be received in future years. Use of Funds
Note 2: Includes a proportionate share of academic
Teaching Research2 Centres, Service, Community Relations, Development Executive Education and Executive MBA, MFM, MBA Fort McMurray Technology and Infrastructure Operating and Support Services 2,3
17,013,063 10,780,389 5,009,480 5,421,776 1,875,515 1,849,542
40.6% 25.7% 11.9% 12.9% 4.5% 4.4%
Total Uses of Funds 41,949,765 100.0% Net Inflow (outflow) (960,294) Net Unrestricted Reserves4 3,097,496 Net Restricted Reserves 7,551,572
18,111,224 11,707,996 4,736,198 7,190,703 2,022,146 2,037,499
39.5% 25.6% 10.3% 15.7% 4.4% 4.4%
45,805,767
100.0%
payroll as it relates to the teaching and research components of scholarly responsibility to the University. Note 3: Going forward, the amount paid out in scholarships now includes scholarships paid out to Business students through the Student Awards Office and the University Bursaries and Emergency Funding accounts.
(2,258,613)
Note 4: Net Unrestricted Reserves comprise
2,270,948
balances in own funds that are generally
6,119,508
available to the School to cover operations.
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INSPIRATIONAL LEADERSHIP Business courses at the University of Alberta began in 1916 in the Department of Accountancy which would become a faculty in 1960. In 1968, under Hu Harries, the Faculty first became accredited by the AACSB, the first business school in Canada. In 2011, under Mike Percy, the School was again re-accredited making it the longest continually accredited business school in Canada.
Our first Dean
Dr. Hu Harries – cowboy, academic, politician – was well known for introducing student-run rodeos.
Our LAST Dean
Dr. Mike Percy – adventurer, academic, politician – is well-known for his annual polar-bear jump in support of student competitions. Dr. Mike Percy – Professor, and 2011/12 Campaign Chair, United Way
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The student and research experience remains at the core of the Alberta School of Business, led and supported by an incredible succession of Deans: Hu Harries
1960 - 1968
Ted Chambers
1969 - 1976
Roger Smith
1976 - 1988
Jean-Louis Malouin
1989 - 1992
Rodney Schneck
1992 - 1997
Mike Percy
1997 - 2011
Tom Scott, Interim Dean
July 1, 2011
Dear Mike,
April 25, 2011
Perhaps you could have done more for the people of Alberta as Treasurer and as the successor to Premier Decore. Nonetheless, the School of Business, the University, the students and staff and, indeed, Alberta and Canada have been
tremendously well – served with you as Dean.
I was delighted when you were appointed. And I have been equally delighted over the past fourteen
years to see you create and strengthen successful programs at the University. Your ability to deal thoughtfully, sensitively, and effectively
CBLA
Canadian Business Leader Award
Since 1982, the School’s signature event has honoured leaders, entrepreneurs, and pioneers of progress in the business world, and who are selected by the 33-member international Business Advisory Council.
with the necessary constituencies in building a strong School has been exceptional. To watch the School evolve
under your leadership, relatively close up at first and at more of a distance more
recently, has been a pleasure. Having devoted most of my career to the School of Business and the University of Alberta, I could not be
achieved with the building blocks left to you, wherever they may have been strewn. I have considerable appreciation for many of the challenges you have faced. Thank you for your services, and for your kindness in keeping me informed on,
March 14, 2012: Allan Markin Chairman, Canadian Natural
FUN AND INTEGRITY
more pleased with what you have
and invited to, events involving the School of Business.
March 2, 2011: Darren Entwistle CEO, TELUS
I hope to be in Edmonton for the tribute to you on June 28. It is but one occasion to recognize what you
GIVE WHERE WE LIVE
have achieved and, perhaps more importantly, the
inspiration you have given to others and what
you have enabled them to achieve. With my very best wishes and appreciation, Sincerely, Roger Smith,
March 3, 2011: TELUS celebrated the creation of the Westbury Family Awards in Philanthropy, creating scholarships for Alberta School of Business students.
Professor Emeritus, Former Dean
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OUR FOUNDATION SOCIAL IMPACT Community Investment • Strategic considerations • Meaningful engagement activities • Long-term impacts Stakeholder Relations • Public relations and media • Community and stakeholder relations Quality of Life Influencers • Arts and culture • Not-for-profit organizations • Social safety net
“UPLIFTING THE WHOLE PEOPLE” Henry Marshall Tory
ENVIRONMENTAL SENSITIVITY • R esponsible corporate environmental practices • Sustainability in operational, legal, and ethical environments • Reputational risk management
COMMUNITY BUILDING • • • • •
Corporate governance Measuring investment impacts Business of not-for-profits Changing face of philanthropy Emergence of social enterprise
The School is proud to announce the establishment of the Canadian Centre for Corporate Social Responsibility, to build upon the legacy initially established by the late Gary McPherson in the Canadian Centre for Social Entrepreneurship. CCCSR, or Triple CSR, will be led by Roy Suddaby, Academic Director.
The goal is to build a
world-class
centre of excellence for generating original knowledge about the relationship between business and society. The mandate is to be
interdisciplinary in nature and focus on RESEARCH, education, and outreach.
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DONOR IMPACT: The Preservation of the Name Campaign Founders Wall, featured throughout the report, is located on the main floor of the Alberta School of Business Building.
ALBERTA. Always has been. Always will be.
Foundation Executives Excellence
Ethics
Engagement
entrepreneurship Founders EnergY
FastTrack
Finance
Environment