Today’s business leaders face more than just competition from other companies – they must also understand how government decisions, public policy, and global events impact their organizations. Whether it’s new regulations, trade disruptions, or environmental rules, external forces are shaping business more than ever before.
One area where this is especially evident is in Canada-U.S. trade relations. From shifting tariff rules to renewed debates over the United States-Mexico-Canada Agreement (USMCA) and supply chains, the business landscape between the two countries has grown increasingly unpredictable. These tensions underscore the need for future business leaders to understand the political forces driving economic decisions.
To help students navigate this complexity, Ivey’s Adam Fremeth, HBA ’00, Associate Professor of Business, Economics and Public Policy, has developed a new HBA2 course: Business Strategy in a Political World. The course teaches students how companies can collaborate with governments, respond to policy changes, and even influence the rules that govern their industries.
“I thought our students would benefit from a deeper understanding of how firms engage with policy-makers and vice versa – especially in the world we're in today, where we’re seeing great regulatory and political uncertainty – both at home and abroad,” said Fremeth. “There are structured ways to think about coping with these dynamics … I’m trying to train the students to think about scenarios for where the world might be heading and to be prepared for what that looks like.”
An expert in non-market strategy himself, Fremeth said Ivey is uniquely positioned to lead this conversation thanks to the School’s depth of faculty expertise.
“Ivey has great expertise in this area among Canadian business schools – and we’re definitely in the top 10 in the world when it comes to research-active faculty focused on non-market strategy,” he said. “It's really important for us to bring our thought leadership into the classroom and ensure our students are getting leading-edge thought on these topics.”
Learning from the front lines
The course also features real-world insights from business leaders who are actively shaping Canadian policy. First offered as an intersession course in April, the inaugural offering included guest speakers such as:
- Dennis McConaghy, former executive at TC Energy – on stakeholder opposition to TransCanada’s Keystone XL Pipeline;
- Mike Wallace, Executive Director of the London Development Institute and former MP – on how firms can effectively advocate in policy arenas;
- Chris Guillon, MBA ’06, Chief Commercial Officer at StormFisher Hydrogen – on risks and returns in renewable energy; and,
- Flavio Volpe, President of the Automotive Parts Manufacturers’ Association – on the impact of tariffs on the auto sector.
One course highlight was a virtual presentation by Volpe on April 25. A seasoned industry advocate, he gave students a behind-the-scenes look at the USMCA renegotiations and U.S. President Donald Trump’s strategic maneuvering during the talks.
Volpe recounted how he gained access to White House officials by simply calling the switchboard—an anecdote that captured both the unpredictability and openness of U.S. policy-making at the time. He urged students to be resourceful, understand the data behind their arguments, and appreciate the power of public positioning.
Real-world strategy, real-time learning
HBA2 student Ben Angel described the course as highly relevant and engaging.
“The content is probably more relevant than anything I’ve learned so far,” he said. “I also like that the material is taught in different ways. We have simulations, we have people coming in as guest speakers – you’ll study a case and the CEO of the company comes in and you get to ask questions. Getting to grill them is always fun.”
Looking ahead: infrastructure, oil sands, and U.S. volatility
Fremeth plans to evolve the course content in future sessions. This fall, Ehren Cory, HBA ’96 and CEO of the Canada Infrastructure Bank, will join to explore public-private partnerships in infrastructure development.
Fremeth also plans to integrate insights from his recent trip to Alberta's oil sands, highlighting how innovations in Cenovus Energy's in-situ extraction methods are transforming Canada’s environmental and economic landscape.
Of course, Canada-U.S. relations – especially continued protectionism – will remain a core theme.
“I want the students to do scenario-planning and strategizing so they know how to deal with what's going on, as opposed to just throwing their hands up and complaining about what's going on,” he said. “I think it's really important that business leaders have a broad view of the external environment that they're working within. Being obsessed with your customer is important, but being myopic and not recognizing all these other things that are going on will blindside you – not just from threats, but the opportunities you can take.”
