Fall 2008

more events from previous month
   
November 29, 2008 Link
Ivey students get into the Christmas spirit  

Ivey's HBA students got into the business of spreading Christmas cheer by hosting a Christmas party for underprivileged children on Saturday, November 29 in Ivey's atrium.
About 50 children attended the annual Children's Aid Society (CAS) Holiday Party, organized by Ivey Connects' board of directors, for an afternoon of holiday crafts, songs, cookie-decorating, an interactive magic show and a visit from Santa Claus.

Pat Finch, the Manager of Communications and Development at the Children's Aid Society of London and Middlesex, said the event was a real treat for the children.
 

  
 
Ivey Connects volunteers.  L-R and Top to Bottom: Lisa Kendrick, Nathan Cragg, Chris Engelking, Graham Foulds, Amy Childs, Gillian Heisz, Justine Kilby, Steve Shedletzky, Kate Woodford, Nicole Marcus, Taryn Lipschitz, Jillian Rodak  
 

"Great entertainment, yummy food and even Santa – it doesn't get much better than that. From the moment you walked in the door you could feel the energy and spirit," she said.

Lisa Kendrick, a business student and Ivey Connects' CAS Holiday Party Project Manager, said the event definitely made an impression on Ivey students.
"I don't think the volunteers realized just how humbling this experience would be," she said. "I think everyone left with a bit of a different take on what the holiday season is all about."

 
   
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November 28, 2008 Link
Free consulting from Ivey students helps local non-profits through tough times  

Armed with suggestions for promotional materials, newsletter and Web site improvements and sustainability plans, 12 London non-profit organizations are better poised to face the challenges ahead thanks to free business consulting from students at the Richard Ivey School of Business.

For the Ivey Connects Community Consulting Project, 48 undergraduate business students provided 12 London non-profit organizations with 120 hours of pro-bono consulting work. Their projects, which ranged from grant-writing to plans for enticing new board members, volunteers and donors, were presented at a ceremony on Friday, November 28 at Ivey Business School to mark the end of the six-week project.

With Canada on the brink of recession, the projects provided much-needed relief at a time when many non-profits are feeling a tighter squeeze on their finances.

"The students brought a business culture to us that we have never seen," said Deb Hotchkiss, Managing Director, Partners in Employment, who gained a new funding model thanks to the project. "They left us with some great tools that we can use to help us generate funds."

Sandra Fieber, Program Director, Craigwood Youth Services, said the students helped her organization to better match resources with needs.

"They asked us questions about things that we take for granted and really raised our consciousness. We really appreciated the opportunity to engage with young business students," she said. "The interface between the not-for-profit and business communities is where the solutions lie."
 

  
 
Program Director, Craigwood Youth Services, Sandra Fieber (Centre) with Ivey students  (left to right) Puneet Grewal, Vincey Chui, Siqi Ma and Chris Selby  
 

The project was also helpful for the business students, who cited the value of practical application of their classroom lessons.

"Before this, I had worked on fundraisers such as selling ribbons, but now, working on the other side of things, I learned how difficult it can be to raise money," said Vincey Chui, a business student who worked on the Craigwood project.

Ivey student Shaunvir Sidhu said he learned how a business education can be used to do good through working with Sohail Khan, Project Manager of Skills International's London office, on a funding proposal.

"Sohail has an MBA and he used it to raise a non-profit organization from the ground up. It is really inspiring," he said.

Stacey Hsu, a business student and director of the Ivey Connects Community Consulting Project, said the goal of the project is to inspire students to contribute to the societies in which they operate on a regular basis.

The local non-profits involved in the project included London Regional Children's Museum, the Alzheimer Society of London and Middlesex, Autism Canada Foundation, Cheshire Homes of London Inc. and Dale Brain Injury Services (integration of services), Canadian Medical Hall of Fame, Thames Valley Children's Centre, Partners in Employment, London International Children's Festival, Craigwood Youth Services, Skills International, Brain Tumour Foundation of Canada and Community Living London.

Ivey partnered with Accenture, a business consulting company, for the initiative.

Ivey Connects is a student-run philanthropic organization that works to inspire business students to incorporate philanthropic giving in their day-to-day lives, and contribute to the societies in which they operate.

The Ivey Connects Community Consulting Project is in its fourth year. For more information, visit www.ivey.uwo.ca/iveyconnects/ccp

 
   
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November 25, 2008 Link
David Dodge shares insight on financial crisis with Ivey students  

Ivey students learned about the tough task of leadership as David Dodge, former governor of the Bank of Canada, told them Canada's leaders should spend more money on public works and education, even if it means running a deficit during troubled economic times.

Dodge presented "Rebuilding the Global Financial System: A Question of Leadership" to undergraduate students at the Richard Ivey School of Business at the third annual Thomas d'Aquino Lecture on Leadership on Tuesday, November 25 at the School.
His speech outlined the painful process for Canadian leaders to pull the country out of an economic downturn.

He stressed the importance of building roads and bridges that were neglected in the 1990s as a means of kick-starting the economy and creating jobs, as well as changing the systems that contributed to the problems in the first place.
 

  
 
David Dodge talks about leadership and the economy  
 

"There will be political pressure put on government to do things that are of secondary importance. Our leaders must understand the importance of doing what's necessary and not just what's high-profile," he said. "Trying to change these systems will be very difficult and will require great leadership."

Acknowledging that there is no single cause of the financial crisis, Dodge said it was a result of inter-related weaknesses in the global economic and financial systems.

Dodge outlined four weaknesses that contributed to the economic downturn: account imbalances, such as a savings deficiency in the U.S. and excess savings in Asia; excessive leverage that was allowed to build in systematically important parts of the financial system, such as the U.S., Europe and some emerging market economies; regulatory and accounting systems that encouraged excessive expansion of lending and deterioration of credit standards while oversight of securities and financial markets was weak or nonexistent and a lack of attention to proper risk management by financial institutions and investors.

"The current global economic crisis creates a propitious climate for IMF (International Monetary Fund) renewal. Canadian authorities should redouble their efforts to bring about such renewal," Dodge said. "Strong leadership will be required to bring about renewal of the international financial institutions. Canada is well-positioned to provide such leadership."

Thomas d'Aquino, President and Chief Executive of the Council of Chief Executives and Chair of the Ivey Business School's Lawrence National Centre Advisory Council, called Dodge a "tireless champion of reforms that were necessary to unlock Canada's economic potential" and noted his philosophy of openness and transparency as Canada's head banker at a time when the Central Bank was often cloaked in secrecy.

Dianne Cunningham, Director of the Lawrence National Centre for Policy and Management at Ivey and organizer of the lecture, told the students she hoped Dodge's lecture will inspire them in business.

In media interviews after the event, Larry Wynant, Acting Dean, Richard Ivey School of Business, said the lecture was a great example of how the School brings current challenges into the classroom.

"It gives students tremendous insight and builds on the courses they're taking," he said.
 

  
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November 20, 2008 Link
Charles Loewen shares advice on how family businesses can manage growth  

Dealing with big market swings is a familiar scenario for C.P. Loewen Enterprises, a family business that has survived for four generations.

Charles Loewen, CEO and President of Loewen Windows, offered some advice for dealing with slowdowns and managing growth at a CEO roundtable discussion called "Raising Capital Growth: Resilience in the Global Marketplace" on Thursday, November 20 at the National Club in Toronto. The event was presented by Ivey's Business Families Centre and sponsored by The National Post and Loewen & Partners.

Loewen outlined how the company has scaled back its operations in the past two years due to a slowdown in the U.S. housing industry, one of its prime markets. He also told how he had to re-craft the Loewen Window business and revamp his team to better address the demands of a changing world.

"The hardest thing to do is to replace the people who are in over their heads," he said. "Stepping back and yielding responsibility to others is tough."

He also noted the complexities of family governance, particularly when transitioning between generations, and stressed the importance of defining the roles because not all family members will necessarily perform well in a position of leadership with the family business.

Succession is another challenging hurdle and Loewen urged business owners not to delay dealing with this issue because it takes time to build a winning team.
 

  
"Start to plan for this transition earlier than you think is necessary … If planning is insufficient, circumstances will drive the decision-making, determining who the key stakeholders will be," he said.

He advised business owners to have a bigger vision than a product and to establish a holding company for growing these ideas. He recommended redefining the business at least every five years.

For instance, while once a dominant window maker in Western Canada, the Loewen company seized an opportunity to move into additional markets when a major competitor headquartered in Toronto went out of business. Loewen Windows then focused on becoming the premium window supplier to the construction industry. Then, after gaining exposure to the high-end housing market, it opened retail locations across the U.S. to serve the high-end market and added window designs from Italy and China as well as Loewen designs.

"This moves Loewen to a world vision and away from selling one product to becoming a channel for beautiful windows," he said. "We fill a hole in the wall. We can do that in many ways. We do not have to be making that item. We can also source it as we know the tastes of our target market. This is part of our new vision."

Loewen also cited the value of sharing responsibility for a company, explaining how he gave up his role as Chairman of the Board so that the company wouldn't be too vulnerable to his departure.

(Adapted from a submission by Jacoline Loewen, Loewen & Partners)
 

  
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November 18, 2008 Link
Ivey students get inside view of causes and consequences of the credit crunch from U.S. Securities and Exchange Commission  

Jonathan Sokobin, Director of the Office of Risk Assessment, U.S. Securities and Exchange Commission, shared information on the causes and consequences of the credit crunch with Ivey students during a presentation at the School on November 18.
Addressing students in Walid Busaba's Derivatives elective, Sokobin discussed the trends leading up to the economic collapse and the implications of the current crisis on markets going forward.
Sokobin said key factors included a breakdown in borrowing standards, securitization and the shortening of the maturity structure.

"Uncertainty was a key factor. If you don't have trust, it affects your ability to make a transaction," he said.
 

  
 
Jonathan Sokobin, Director of the Office of Risk Assessment, U.S. Securities and Exchange Commission, addresses students in Walid Busaba’s Derivatives elective  
 
   
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November 7, 2008 Link
Ivey students meet Alan Greenspan and get lessons on the financial crisis  

Ten Ivey students received some insight on the financial crisis from Alan Greenspan, former head of the U.S. central bank, at a public address in Toronto on Friday, November 7.

The students won tickets from a video competition at Ivey to attend "An Afternoon with Alan Greenspan" at Toronto's Westin Harbour Castle. For the contest, they had to address what they'd do as Fed Chair for a day.

Three of the 10 students, MBA students Ben Wise, Christopher Lau and Jay Anand, also met Greenspan at a VIP reception preceding the event. The other contest winners included James Mazur, Siddarth Samarth, Nicole Clara, Jordan Mitchell, Vikas Sharma, Matthew Busbridge and Frank Voisin.

Greenspan's discussion centered on when the financial situation would bottom out. He pointed toward two indicators: home prices and world equity.

Pointing out that home prices should stabilize in the first half of 2009, he said the problem with price instability in home equity is that banks and financial intermediaries don't know what their assets are worth. Since banks can't loan more money than the homes are worth, any instability in asset prices amplifies the instability in banks. Home prices need to stabilize so that banks can get a better picture of their assets, he said.
 

  
 
L to R - Ben Wise, Alan Greenspan, Christopher Lau and Jay Anand  
 
Greenspan also stressed the importance of having equity dispersed around the world to aid with recovery.

He also cited Canada as a shining example in terms of creating a stable economy and suggested Canada should continue to build its capital stability to help minimize the impact of the economic turmoil in the U.S.

(Adapted from a submission by Ivey student Christopher Lau)
 

  
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October 25, 2008 Link
Parents learn about what their HBA kids learn at Ivey  

On Saturday, October 25th we celebrated the 28th annual HBA Parent's Day event at Ivey. Approximately 500 parents and HBA 1 students were present at this event. Parents spent the day learning about Ivey and the HBA Program, meeting the HBA1 faculty and classmates of their sons or daughters. Parents also participated in case discussions facilitated by John Haywood Farmer, Fraser Johnson, Neil Brisley, Mary Heisz, Chris Piper, and Zeigham Khokher, while the students watched their parents via video feed in another classroom.

We were fortunate to have Gilles Ouellette, HBA '69, MBA'70 and member of the Ivey Advisory Board attend as our guest speaker for our closing ceremony.
 		  
 
Professor Mary Heisz with parents of HBA students  
 
Parents' Day has always been a tremendous success in showcasing Ivey and the HBA Program and acknowledging the moral and financial support parents provide to their sons and daughters.  
   
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October 25, 2008 Link
Brian Tobin shares leadership tips with MBA students  

While admitting a rough road lies ahead, former Newfoundland and Labrador premier Brian Tobin said strong leadership skills will help the next generation of business leaders to deal with the fallout from the economic crisis.

Speaking to student leaders from Canadian business schools at Ivey's inaugural Canadian MBA Leadership Conference on October 24, Tobin said, in tough times, true leaders rise above the pack.

"Change and challenge are constant in our lives and some people have the capacity to harness the tide and draw power from the tide while others are swept along by it and sometimes swept away by it," he said. "The real leadership skills are shown when the seas are rough and the weather is stormy."

Citing examples from his time in public office, Tobin outlined what he considers to be the four essential characteristics of a leader: integrity, clear vision, the ability to decide and courage. He also praised four leaders: former South African president Nelson Mandela and former Canadian prime ministers, the late Pierre Trudeau, Jean Chretien and Brian Mulroney, for exuding some of those characteristics.

"There must be a commitment to honesty at all times, not just when it's easy or convenient to be transparent or honest," said Tobin.

As for clear vision, Tobin said good visionary leaders are good listeners and are clear about the purpose of their leadership responsibilities.

"They articulate the vision, they establish the milestones, they demand accountability and they stay the course," he said.
 

  
 
Brina Tobin addresses MBA students at the CMLC  
 
Citing Chretien's "clear desk" as a sign of his exceptional decision-making abilities, Tobin related how in his days as a Cabinet Minister, Chretien gave him and fellow ministers the tough task of eliminating Canada's multi-billion-dollar deficit in the early '90s.

"He told us, 'If you don't do that, I know some other guys who would like to have your jobs'," Tobin said. "Chretien made a decision, he established the target and he told us what the consequences of failure were. As a result, we did it and it all started with a leader making a decision and holding a team responsible for it."

Mulroney, in forging ahead with his unpopular GST policy because he saw it as the only secure source of revenue for Canada, was an example of a courageous leader, Tobin said.

"A leader who wants to make big gains, must be prepared to take big risks. Leaders must be willing to bet their reputations to do the right thing for the good of the organization," he said. "Nothing will inspire the troops more than a courageous leader."

Acknowledging that business leaders face an uphill battle in rebuilding the public's confidence, he also stressed that there will be many rewards for doing so.

"Those of you who choose careers in business will hopefully find it to be exhilarating and rewarding," he said.

Canadian MBA Leadership Conference list of participating schools:
Dalhousie Business School (Dalhousie University)
Degroote School of Business (McMaster University)
Desautels School of Business (McGill University)
Edwards School of Business (University of Saskatchewan)
Haskayne School of Business (University of Calgary)
HEC Montreal Business School (HEC)
John Molson School of Business (Concordia University)
Laurier Business School (Wilfrid Laurier University)
Memorial University of Newfoundland (MUN)
Queen's School of Business (Queens University)
Richard Ivey School of Business (University of Western Ontario)
Rotman School of Business (University of Toronto)
Sauder School of Business (University of British Columbia)
Schulich School of Business (York University)
Ted Rogers School of Management (Ryerson University)
University of Alberta School of Business (University of Alberta)
University of New Brunswick Business School (UNB)

  
   
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October 22, 2008 Link
Ivey and CAFE celebrate contributions of family businesses  

The leaders of family business powerhouse, James Richardson & Sons, Limited, revealed the secrets of their success: strong vision, entrepreneurial values and a focus on long-term sustainability, at an event celebrating the contributions of Canadian family enterprises.

Hartley Richardson, seventh family president, James Richardson & Sons, Limited, and his cousin, Carolyn Richardson Hursh, Chairman of the Board, were the keynote speakers at the 5th Annual National Family Business Day celebration at Sunningdale Golf & Country Club in London on October 22.

The Canadian Association of Family Enterprise (CAFE) Southwestern Ontario and the Business Families Centre at the Richard Ivey School of Business hosted the event. It included a panel discussion with local family business owners Peter Channer, co-owner of Channer's men's and women's clothing store, and John Nash, owner of Nash Jewellers.

"Being a family-owned business contributed to our success because we have the luxury of time. We can make decisions for the future knowing we still have time to grow," Hartley Richardson told the crowd of family business members and business students. "This can help us to ride out the downturns. The pressures of the markets may be forcing some public companies to make decisions that may cost them. However, with our focus on long-term sustainability, we never have to go for a short-term gain that can compromise the business."

However, balancing the needs of the family and the business can be challenging at times.

Although not all Richardson family members work for the company, they are all shareholders so efforts are made to keep family shareholders informed and passionate about the business.
 

  
 
(L-R) David Simpson, Carolyn Richardson Hursh, Hartley Richardson, and Acting Dean Larry Wynant  
 
Carolyn Richardson Hursh stressed the importance of good communication through quarterly newsletters, Web site updates, family meetings and an annual family conference.

"Family members must feel valued for their input and support. When our business does well, there are many benefits for the family members. However, family members must get along. They can't be feuding about succession or the success of the business would be in jeopardy," she said. "This requires good communication. There is nothing going on that we don't communicate with the family shareholders. We've worked hard to maintain a strong family business and a strong family."

Providing good role models for younger family members and having high expectations for family members wanting to work in the business is also critical. In fact, family members must complete university and gain outside work experience before joining the company, she said.

Nash also said his company has an "over 30 policy", meaning all family members must be 30 or older before joining the business to allow them to explore other opportunities.
"I adhere to the advice that you shouldn't treat all family members as equals and you shouldn't build a business for them," he said.

The event concluded with the presentation of an achievement award for the Southwestern Ontario Family Enterprise of the Year 2008. This year's winner was London's Metropolitan Maintenance janitorial services and runner-ups included Anything Used & Sparta Country Candles and The Hayter Group, eco-energy experts.

David Simpson, Executive Director of Ivey's Business Families Centre, said it's a day to recognize all family businesses.

"I strongly believe that communities are built from families with good work and great skill. Family businesses are a force –a vital energy. They're one of the most positive things that communities can celebrate. These are the people who put us on the map," he said.

  
   
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October 3, 2008 Link
Richard G Ivey Speaker Series features Richard Nesbitt, Chairman and Chief Executive Officer, CIBC World Markets  

A glimpse into the future of investment banking

Friday October 3, Richard Nesbitt, HBA '78, Chairman and Chief Executive Officer, CIBC World Markets addressed Ivey HBA and MBA students, faculty, and staff as the keynote speaker for the Richard G. Ivey Speaker Series.

During his address, Richard spoke about the future of investment banking, a very timely topic considering today's economic turmoil.

Appointed to CIBC in January 2008, Mr. Nesbitt stepped into his role during a turbulent time for Canadian banks. In his role as chairman and chief executive officer of CIBC World Markets, Richard is responsible for the global operations of investment and corporate banking, capital markets, merchant banking, and real estate finance businesses. He is continuing to lead through turbulent times and spoke about the transformation taking place in the investment world today.

During his speech, Richard talked about the current state of the markets, how one of the most significant events of the past several decades is in our midst, and what this means for the future of investment banking. Mr. Nesbitt believes that this will "lead to a transformation that will revolutionize the role, mandate and make-up of wholesale banks in the future." Mr. Nesbitt talked about how this transformation will take us "back to the future" to focus on the core competencies that have driven our success with clients in the past. "Clients will be king, our success will arise directly from their success," he said. "Banks that understand the repercussions of this transformation will proactively adapt their businesses so they are winners within this environment."
 

  
 
Richard Nesbitt discusses the future of investment banking  
 
During his speech, Mr. Nesbitt revealed the five transformations that will take place:
1) There will be a shift toward traditional bread and butter products and capabilities and a move away from complex or exotic financial products.
2) There will be a transition from global to local. Many global investment banks will retreat back to their home markets, where they have expertise, client relationships and a pipeline of talent.
3) The sale of capital markets products to retail bank clients will increase in importance. In the past, these products were a secondary afterthought for most investment banks. Now, they will be seen as strategic opportunities.
4) The changing cost of funds in the marketplace will greatly change how the game is played. The era of easy money is long gone.
5) The role of investment banks within our global economic system will change dramatically. It is unlikely stand-alone investment banks will have the capital to go it alone.

The Richard G Ivey Speaker Series was created to honour the memory of the man whose vision, passion and energy lay the foundation of Ivey's future as the pre-eminent business school in Canada more than 60 years ago.

 
   
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September 27, 2008 Link
Ivey students give back to community  

London's streets are a little cleaner thanks to Ivey's MBA students.

About 70 MBA students helped wipe out graffiti on Wharncliffe Road between Horton Street and Commissioners Road for their annual Community Action Day on Saturday, September 27.

The initiative supported "Go Graffiti Go Day," a graffiti-removal program hosted by Neighbourhood Watch London that tackles graffiti with Graffiti Go, an environmentally friendly high-powered cleaner.
 

  
 
Ivey MBA students wipe out graffiti annual Community Action Day  
 

"Graffiti plays a role in the attraction of crime, such as theft and vandalism, so we thought this was an important project. It also allowed Ivey students to be visibly participating in the community," said Ronald Wong, an MBA student who is co-director of the MBA Ivey Connects Community Action Day along with MBA student Erin MacKenzie. "The students were really able to connect with the community and we were frequently approached and thanked by people in the community."

Wong said local businesses were extremely supportive of the project and donated buckets, painting tools, gloves and other supplies. Sponsors included Tuckey Home Hardware (Wortley Road), ValuMart (Oxford and Richmond Street) and A&P (Cherryhill).

 
   
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September 23, 2008  
Ivey students prepare to make community impact Link

Joe Swan, co-ordinator of the East London Community Centre and a former London city councillor and controller, had an inspiring message for Ivey students: you can make a difference.

Swan spoke to students in section four of Ivey's HBA1 program on Tuesday, September 23 about the difference they can make with his organization and the community at an event to launch the inaugural HBA Community Impact Challenge. Through Community Impact Challenge, each section of students in the HBA1 program "adopts" a non-profit organization and provides eight months of service to it by means of fundraising, volunteering and pro-bono consulting. Section 4 chose to work with East London Community Centre on the Hilton Avenue Renaissance Project to revitalize a community in London's east end.

Other non-profit organizations participating in the project include Western Area Youth Services, Boys' & Girls' Club of London, Vanier Children's Services and Make-a-Wish Canada, Southwestern Chapter.
 

  
 
Joe Swan talks to Ivey HBA students  
 

"You are here to help inspire those kids and parents in the Hilton Avenue area and give them hope so that some day they can be sitting in these chairs just like you are," said Swan.

Darren Meister, Faculty Director of the HBA Program, told students the project will allow them to put the lessons they've learned in the classroom into action.

"You will impact people's lives and that can give you a wonderful sense of self-worth," he said. "We're taking ideas and putting them into action for this project. What I love about this project is that it has everything we love about this program."

  
   
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September 18, 2008  
Michael Raynor reveals the "paradox" of business success Link

Michael Raynor, a management consultant and author of "The Strategy Paradox," had some seemingly unusual advice for Ivey students and alumni: to succeed in business, you have to risk total failure.

Raynor, a consultant with Deloitte Consulting LLP, Ivey alumnus and former adjunct professor at Ivey, explained why businesses must choose between strategies that minimize their survival risk, but leave them destined for mediocrity, and strategies that can potentially maximize their profitability but also threaten to ruin them. He addressed a group of business practitioners at the ING Leadership Centre in Toronto on Thursday, September 18 followed by a presentation to Ivey MBA students in London at the Spencer Leadership Centre.

The event was part of the Ivey Idea Forum: A Cross-Enterprise Leadership Series, which provides managers and executives, Ivey alumni, business students and prospective students with guest speakers and events to develop cross-enterprise leadership perspectives and action plans on key business issues.
 		  
 
Michael Raynor greets students at the Ivey Idea Forum  
 

"Organizations don't face so much of a choice between success and failure. It's more of a choice between success and failure or mediocrity," he said. "The paradox is that the elements of success and failure look exactly like each other."

Pointing out that the majority of businesses commit to mediocrity because they want to survive, he also outlined how companies such as Sony and Microsoft, have taken risks in pursuit of greatness, with differing results.

Citing Sony's launch of the Betamax VCR, a high-fidelity recording device for taping television shows as a "brilliant strategy" that initially gave it 65 per cent of the market share, Raynor explained how unpredictable circumstances caused it to later lose its place at the top. He told how movie studios made films available for rent, and watching rented movies became the preferred use for the VCR, so consumers began turning to Matsushita's lower-performing, lower-cost VHS VCR for that purpose.

On the other hand, Microsoft was successful when it committed to OS in the late 1980s because it created different operating systems, such as Windows, MS-DOS and OS/2, so that it would have a variety of strategy options.

"The framework for managing strategic uncertainty is that you must separate how strategic commitments are made and managed and how strategic uncertainties are identified and reduced," Raynor advised. 		 
   
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September 18, 2008 Link
Ivey students learn lessons from Canadian business leaders  

Instead of reading about leaders, Ivey's HBA students are learning lessons on leadership directly from some of the major leaders in Canadian business for the new "Learning From Leaders" course, Business 4500, taught by Ken Hardy.

James D. Irving, President and CEO of J.D. Irving Limited, the New Brunswick business dynasty with a long history in forest products, spoke to students on Thursday, September 18 about the challenges of running the diverse enterprise. Along with owning all of New Brunswick's major newspapers and several radio stations, J.D. Irving Limited has invested millions of dollars into conservation, research and education efforts.

Other guest leaders for the course will include Shelly Jamieson, Secretary of the Cabinet, Head of the Ontario Public Service and Clerk of the Executive Council and former Deputy Minister of Transportation and Extendicare president; Nancy McInerney-Lacombe, (MBA '80), former Senior vice president of Royal Bank; Donald K. Johnson (MBA '63), a Canadian philanthropist and senior adviser to BMO Capital Markets and Barbara H. Fraser (HBA '71), former senior vice president of American Express USA.

The course is similar in structure to Inside the Actors Studio, the former long-running Bravo television series. Students research an accomplished leader's background, achievements, crises and shortcomings as they would prepare a written case. They then meet the senior executive in a question-and-answer session to discuss solutions to the particular challenges that the visiting leader describes to them. Students later generalize what they have learned from each leader and write a personal leadership plan that will be their guide for future leadership roles.

Professor Hardy said it's important for students to learn the hard lessons of leadership.

"Leadership positions have some rewards and some pain. People can go in all starry-eyed and they don't realize how difficult it can be and that they might have to make some tough decisions," he said. "Political leaders, for instance, need to be thick-skinned and incredibly focused. The common element of leaders is there is a drive to make a difference."

Professor Hardy once taught at an experimental school in Norway and is a proponent of experiential learning.

"This course is the ultimate in practicality. It's like a brief mentorship wherein they discuss really practical issues," said Professor Hardy. "The job of every student coming out of Ivey is to eventually lead and, through this course, they create a plan and outline certain things they have to do to get there."

  
   
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