SEPTEMBER 2015

PARTNERING FOR PROSPERITY

Sobey School of Business, Saint Mary’s University Dean’s Report to the Community

new year has just begun for those involved in the academic A community. There is a dynamic energy in the air as students re-ignite their journey of discovery and as faculty transition from an intense focus on research to engagement with their students and the larger community. Over this year, I will report important activities of our Sobey School of Business community, such as entrepreneurship and internationalization. In this time of shifting gears, I want to share with you some insight into one element of our work: partnerships. Saint Mary’s University has a deep and strong connection to our external community. It is in the DNA of the university and it manifests in many ways. In this report we share with you some examples of this dynamic, through stories of partnerships with the Halifax Port Authority, Sobeys, IBM, CBC, NSBI, ACOA, cooperative businesses in Cuba, a university in China and the Institute for Corporate Directors and Rotman School of Management at the University of Toronto. Dr. Patricia Bradshaw is the Dean You might ask why we are so proud to share these stories of partnerships of the Sobey School of Business at with you. Well, it is because we think of ourselves as being in the business Saint Mary’s University. of accelerating success. We want our students to find their passion and personal definition of success and work diligently to make their vision a

Autumn 2015 | Report to Community | Sobey School of Business 1 PARTNERS FOR PROSPERITY DEAN’S REPORT {Cont’d from p1}

reality. Similarly, we support businesses in accelerating sustainable value creation through skills development and A TRADE MISSION IN ECUADOR knowledge of best practices as well as through having access to “THIS IS THE REAL DEAL!” to identify Nova Scotia companies exceptionally trained graduates with interest in expanding prepared to deal with the international trade to specific Those are the enthusiastic and rapidly changing context of destinations. accurate words of Marc Braithwaite, business. acting manager of the Sobey This year, the students went to Quito, Finally, our mission statement School’s Executive Master of Ecuador. Last year it was Colombia says we “prepare citizens of Business Administration (EMBA) and next year it will be Poland. Now the world to lead sustainable, program. Part of his role is taking 20 in its tenth year, the trade mission entrepreneurial businesses and second-year Executive MBA students has also been to Brazil, China, India, communities,” and accelerating on an annual nine-day International and Indonesia. The destinations are the success of the whole Business Trade Mission. chosen carefully based on expressed community is a critical priority. needs from Nova Scotia businesses. The mission is not an academic We know that no one part exercise. The students are opening Ecuador, for example, is already of the community can drive doors for genuine international a significant trade partner, with prosperity alone, but through business opportunities for Nova about $300 million in annual trade collaborations and partnerships Scotia companies. The program is with Canada, half in agricultural we can amplify what we do. unique in that it provides an annual products. Its economy is growing The time is now and we want to tangible, practical contribution steadily at around 5 percent, be your go-to business school to business development in Nova along with its middle class. Poverty for customized senior executive Scotia, which has added up, over the reduction is a major priority of the training, for the best trained years, to a large economic impact. present government and Ecuadorian spending power has already graduates for internships, co- The Sobey School and its partners— improved significantly. Quito is a ops and new hires and for the the Atlantic Canada Opportunities rapidly developing city highlighted latest thinking about business Agency (ACOA) and Nova Scotia by a new international airport. challenges. Business Inc. (NSBI)—place We partner to accelerate tremendous confidence in our Our students represented the success.  students because they bring interests of several Nova Scotia many years of high-level business companies including Rolls Surrette, experience to the table. NSBI works a Springhill-based industrial battery

2 Autumn 2015 | Report to Community | Sobey School of Business CONNECTING THE DOTS

TOUR OF CUBAN CO-OPERATIVES Through its Co-operative Manage- ment Education (CME) programs, the Sobey School of Business has been learning from the exciting economic transformation of Cuba, going back to 2011 when the CME participated in an inaugural Cuban study tour attended by several instructors and alumni. In February, CME returned as Cuba embarks on a project to © Can Stock Photo Inc. / jkraft5 decentralize and democratize its economy while maintaining its manufacturer; Taste of Nova Students received commitments to socialist principles. It proposes to do so by shifting from state- Scotia, an industry association for move forward toward selling Nova controlled enterprises to agricultural producers, and Nova Scotia products. citizen-led co-operatives. Tour Scotia Community College, which In the fall, the business owners will participants included students and provides training for significant be part of a follow-up mission to instructors from Canadian and Ecuadorian sectors like oil & gas, close deals with the most promising U.S. campuses as well as farmers mining, and technology. Ecuadorian firms. The student and representatives from co-op organizations working in a wide In preparation for the mission, mission makes for more efficient array of sectors (arts, financial, students spent four months working use of their time. Real opportunities food production, and more). They with these companies to better are identified and students get real- were hosted by Cuban academics, understand their industries and world international experience. farmers, consultants, civil trade needs. In Ecuador, each That is the uniqueness of a Sobey servants, and other professionals. student took part in eight meetings School Executive MBA experience. Participants attended lectures and panels in the mornings and with potential trade partners—like Beyond those benefits, these trade eight blind dates, but with a lot of in the afternoon, visited co-ops missions offer valuable lessons for in the fields of graphic design, prep work—in order to open doors the entire Nova Scotia business to new international trade deals. fashion, car repair, construction, sector on effective exporting and and urban organic farming. By design, it is a mentally exhausting insights into everything from The opportunity to study such a experience functioning in a new relationship-building to cross- radical economic shift, as well as industry, language, and culture–a cultural communication, logistics to research the impact that the baptism by fire. Students, even management, and mastering the co-operative business model those with many years of leadership rules of trade. For example, while has on the economy, will better experience at major corporations, our students were in Ecuador equip participants to adapt to the dynamics of a changing economy are pushed to their limits and must they learned of a brand new here in Nova Scotia.  perform under pressure, applying emergency import tariff passed in their classroom learning on the fly March, an attempt to counter the in an unfamiliar setting. effects of falling oil prices. Such By all accounts, the mission was a change will have an obvious an unmitigated success. Had impact on budgeting in any trade the students had Rolls Surrette’s negotiations. This is the kind of on- industrial batteries on hand they the-fly learning you can’t get in the could have sold them on the spot. classroom. 

Autumn 2015 | Report to Community | Sobey School of Business 3 PARTNERS FOR PROSPERITY

SOBEY SCHOOL STUDENTS AT THE HALIFAX PORT

he One Nova Scotia Now young professionals at the Sobey for summer and fall internships. Tor Never Report reinforced School. That usually involves a The Sobey School screens students the essential importance of lot of legwork, networking, and to ensure a good fit with the position putting talented people to work. matchmaking. and the skills needed. The Port That includes well-trained new Recently, management at the Authority does the interviewing and graduates and skilled immigrants. Halifax Port Authority was makes the final hire. Shawn Swallow manages our inspired to help reverse the MBA student Jia Li is the first Graduate Career Services and he brain drain that has for so long student hired by the Port Authority. understands this need as well as sapped our province’s economic She hails from Weihai, Shandong anyone. He spends much of his performance. Joan MacLeod, the Province in China, a harbour time connecting with Nova Scotia Port Authority’s human resources city she says is in many ways businesses, helping them develop director, contacted Shawn with an similar to Halifax. She brings and provide real-world business opportunity for MBA students. international business experience opportunities for students and She was drawn to us because and an undergraduate degree in graduates. our students have real-world international trade from Qingdao Shawn himself followed a well- work experience (a requirement University. Like many of our travelled road out of his home for all our MBA students) and students, she hopes to remain in province of Nova Scotia, with because half of our students are Halifax when she graduates. a five-year plan to work at the international. The Port Authority For Li, this is a valuable opportunity University of British Columbia. works with companies from all over to gain Canadian experience, learn Five years became fifteen, but the world, wherever a cargo ship new skills, and better connect he always knew he’d come back may travel. locally while using her experience when the right opportunity came The result is a three-year and cultural understanding of along. Now he works to develop commitment by the Port to hire up China. China is Canada’s second the right opportunities for to two Sobey MBA students annually largest trading partner, responsible for 10 percent of our imports. 4 Autumn 2015 | Report to Community | Sobey School of Business CONNECTING THE DOTS SHE WAS DRAWN TO US BECAUSE OUR STUDENTS HAVE REAL-WORLD WORK EXPERIENCE — A REQUIREMENT FOR ALL OUR MBA STUDENTS — AND BECAUSE HALF OF OUR STUDENTS ARE INTERNATIONAL.

Global connectedness is one of the most impressive things about Sobey students at the undergradu- ate and graduate levels. Many come with the hope of establishing themselves in Nova ECONOMIC IMPLICATIONS OF Scotia’s workforce and helping DEMOGRAPHIC CHANGE grow our economy, which is why We are delighted to start the new Atlantic Research Group on they seek internship opportunities. Economics of Immigration, Aging and Diversity at the Sobey School of Part of our role, something Shawn Business. This important research group analyzes the economic impact does so well, is opening doors to of immigration, population diversity, and aging in our region. Last employers and connecting students October we proudly hosted their first public outreach event, attended to help them make a life here. by more than 130 policymakers, influencers and students. Through As Shawn says, “We have keen, presentations by notable demographer David Foot and researchers smart, talented students who can associated with the Atlantic Research Group, we examined important add value to a company right away. policy implications of our changing demographics. For example, Employers just need to give them we know that more immigrants are needed to maintain a productive the chance.” workforce as our population ages, but in Atlantic Canada we lose We’ve very pleased that the Port too many newcomers to a lack of relevant jobs or established ethnic Authority is boldly doing just that, communities. To compensate, the research indicates that we need to and helping to ensure that the provide better supports to help all newcomers connect to opportunities education we provide is genuinely and communities. This September, a follow up event featured Dr. Bill connected to Nova Scotia’s Ashton describing the components of a welcoming community. This economic performance.  kind of research is essential for moving our economy forward as our communities inevitably change. 

Autumn 2015 | Report to Community | Sobey School of Business 5 PARTNERS FOR PROSPERITY

A SOBEY SCHOOL BACHELOR OF COMMERCE DEGREE IN CHINA

Dr. J. Colin Dodds, former President And now, they share a high-quality “THE and Vice-Chancellor of Saint Mary’s, four-year Bachelor of Commerce said these words last October when degree with a major in Finance. we announced a new Bachelor The program will be delivered WORLD IS of Commerce cohort in China, a in Zhuhai, with half the courses partnership between the Sobey taught by professors from the CONNECTED School of Business and the Beijing Sobey School of Business who will Normal University, Zhuhai (BNUZ). travel there to teach. Dr. Dodds is absolutely right. The The Sobey School of Business has AS NEVER world is so connected that a small been working directly with BNUZ northern coastal city like Halifax for thirteen years, during which can become a natural partner time several hundred students BEFORE.” to Zhuhai, China, a booming have completed joint degrees, two subtropical business district just west years at BNUZ and two years here. of Hong Kong. These two cities have Given its location in a premium more in common than you might business district in one of the most expect. Both are top-notch tourist populous places on the planet, destinations – they call Zhuhai the BNUZ leadership felt there would Chinese Riviera. They are both be enormous value in having significant shipping ports as well. Sobey professors come to their

6 Autumn 2015 | Report to Community | Sobey School of Business environment and help build Students will graduate with a the capacity of the city’s future degree from the Sobey School financial leaders and decision of Business, an internationally makers. recognized leader in training Finance is a big demand business practitioners and area for Chinese students. By executives. heightening our global reach The partnership gives us and building our brand in a unique opportunity to China, we also expect to increase have a program in China student recruitment locally. and a valuable inter- Starting in March 2016, we’ll cultural experience for our send small teams of professors professors. It’s unusual for for five-week stays in Zhuhai a business school to take on to teach. The faculty first this kind of partnership at the undergraduate level. It participate in a number of PARTNERING FOR intensive training sessions establishes the Sobey School on living and working in as a significant international RETAIL SUCCESS Zhuhai. For them, it will be player and will raise Nova a phenomenal cross-cultural Scotia’s profile in China. The new David Sobey Centre for business experience. Several 2016 will see us add to our Chinese Innovation in Retailing and Services of them will bring their own partnership with a planned China has already cultivated exciting and international experience, Competencies program for Nova productive research relationships with having worked, lived, or come Scotia Businesses. Stay tuned! companies including Ernst and Young, of age outside of Canada. the Nova Scotia Liquor Commission (NSLC) and Sobeys. Sobeys Inc. was involved with the first David Sobey Live Case Competition, held last fall. They, as well as Wicker Emporium and Sunnyside Mall, provided a business challenge that student teams were required to analyse and develop solutions for. This fall, along with IBM, Sobeys is again partnering with the David Sobey Centre to present a retail hackathon in conjunction with the new Saint Mary’s Master of Science in Computing and Data Analytics program. In addition to providing teams with anonymized retail data for the challenge, Sobeys is providing prizes including a workshop with IBM on design thinking. Through partnerships like these, the David Sobey Centre is providing our students with opportunities to research, learn and build their own networks. 

CONNECTING THE DOTS

Autumn 2015 | Report to Community | Sobey School of Business 7 PARTNERS FOR PROSPERITY

overnance is a critical Gfunction for all organizations from nonprofits and cooperatives and credit unions to family-owned businesses and large corporations. Best practices are evolving quickly, and both current directors, and those who want to take on the challenges of governance, are equally enthusiastic to learn from and stay connected to the latest thinking. The Directors Education Program (DEP), jointly developed by the Institute of Corporate Directors (ICD) and Rotman School of Management, University of Toronto, has become well respected for developing the skills TRAINING OUR of board directors. The Sobey School of Business is proud to REGION’S DIRECTORS partner to offer this challenging program, unique in North succession and board composition, and its stakeholders. The DEP America, led by well-recognized all topics are explored and hotly prepares directors for their experts, university faculty and debated. critical oversight role, equipping experienced board members. We are delighted to partner them with the knowledge and The goal of this partnership is to in delivering this best-in-class confidence to ask the necessary -- contribute to the development of program, supporting a national and sometimes tough -- questions”. better governance practices in the and international movement to The DEP offers the knowledge and region and across the country. In improve corporate governance. practical tools directors need to fact, alumni of this program join Training in how to exercise responsibly govern corporations, a network of over 3,300 directors due diligence using a “noses in universities, hospitals and other and almost 9,000 ICD members and fingers out” approach is not-for-profit organizations. Using across the country. critical to helping create more active, hands on learning activities The participants in the program organizational value and to – including simulations and are some of the best business and fulfilling each directors’ fiduciary role plays that grapple with real community leaders from across responsibility. As Dr. Margaret business challenges – participants the region and the program brings McKee, the academic director for complete four deeply intensive them together to explore real the Halifax DEP and Associate sessions, each lasting three world scenarios and understand Professor with the Sobey School days. DEP faculty members are challenging governance of Business, puts it, “Good recognized experts in executive dilemmas. From risk management, governance is informed by a strong leadership, strategic planning, shareholder activism and commitment to doing what’s in the finance and financial disclosure, mergers and acquisitions to CEO best interest of the organization business law, and executive

8 Autumn 2015 | Report to Community | Sobey School of Business recruitment and performance management, areas which have CONNECTING THE DOTS become increasingly sophisticated with new accountability legislation. These are the things that every leader in the region needs to know—the health of our provincial economies depends on it. Beyond legal duties, participants learn about the varied expectations “GOOD of multiple stakeholders, including corporate social responsibility. Not GOVERNANCE so long ago, if a company pleased IS INFORMED its shareholders it was seen to be doing enough. More is expected BY A STRONG now. Environmental and social COMMITMENT TO considerations must inform all business decisions. This is the level DOING WHAT’S of complexity at which the DEP is IN THE BEST working. On completion of a written exam and INTEREST OF THE PROMOTING simulated board meeting, participants ORGANIZATION AND earn an ICD.D designation from the RESPONSIBLE ITS STAKEHOLDERS. Institute of Corporate Directors. MANAGEMENT The ICD, a national membership THE DEP PREPARES organization serving directors and DIRECTORS FOR boards, developed the DEP twelve Last spring, the Sobey School of years ago in partnership with faculty THEIR CRITICAL Business signed onto the Principles of Responsible Management from the University of Toronto’s OVERSIGHT Rotman School of Management, and Education (PRME), a UN-backed it has since expanded into selected ROLE, EQUIPPING initiative to evolve our curriculum, institutions across Canada. In 2010, THEM WITH THE research, and learning approach ICD was seeking a Halifax university to management education to focus with the capacity and reputation for KNOWLEDGE AND on corporate sustainability and delivering quality executive education CONFIDENCE responsibility. PRME was launched to Atlantic Canada and we’re very in 2007 and stems from the United proud they selected the Sobey School TO ASK THE Nations Global Compact, launched of Business. NECESSARY -- AND in 2000 in New York City with We launched the Halifax DEP in about forty companies. It now has September of 2014 and graduated our SOMETIMES TOUGH more than 14,000 participants in first class of 36 participants in May of -- QUESTIONS”. 145 countries. Its aim is a more 2015. Our second cohort started the sustainable and inclusive global program in March, and future DEP economy with attention to human offerings are already scheduled for 2016. rights, anti-corruption, and ending Through offering programs such as the DEP, we become ever poverty. The Sobey School is one of more connected to companies and executives throughout the 500 business schools in 80 countries region. We hear firsthand from top level leaders about real that have become signatories PRME. challenges they face in this economy. Our signature commits us to train In turn, we share the learnings from our cutting-edge students capable of responsibly management research, fostering more innovation. As Dr. generating sustainable value for all McKee says, “This program contributes to a deeper connection of society.  between the University and the business community across Atlantic Canada.” 

Autumn 2015 | Report to Community | Sobey School of Business 9 PARTNERS FOR PROSPERITY

THE BUSINESS OF PUBLIC BROADCASTING

2012 Wikimedia Commons image uploaded by Skeezix1000. Used in accordance with Wikimedia licensing agreement.

School of Business partnered to he CBC newsroom in west- graduated from Saint Mary’s create a memorial Krista Harris Tend Halifax is a frantic, wide with a Bachelor of Commerce in CBC Fellowship for high-achieving open bullpen of curiosity-driven 1987. She started work for the students with demonstrated storytelling. It is the nerve centre CBC in 1994 and quickly climbed interests in current affairs. For six of mainland Nova Scotia, pulsing the ranks to become a national weeks each summer, a talented with the daily events of our region. director of production and Sobey School of Business student Few get to witness it in action. resources for CBC radio. receives a salary and bursary and Those who do are, for the most Krista then led a redesign of experiences the vibrancy of that part, trained and seasoned CBC.ca and launched the newsroom firsthand, opening their journalists with their ears to Corporation’s first podcasts. Her minds to new ways of using their the ground, following tips and colleagues fondly remember business skills. hunches trying to illuminate her for her compassion, vision, Last summer, that student murky truths. strategic thinking, and exemplary was Naina Garg, a fourth-year But this building is also a business, leadership skills. Tragically, she undergraduate focusing on and none understood it better died of cancer in 2006. economics with a strong interest than the late Krista Harris, who Two years later, CBC and the Sobey in journalism. For her, the Krista

10 Autumn 2015 | Report to Community | Sobey School of Business Harris fellowship was a golden At the same time, Naina got path, a way to use their skills, as opportunity to immerse herself in an insider’s look at a high- Naina puts it, “an interface between economic stories by some of the profile institution in a time newsmakers and the people who country’s best radio and television of major economic change. need news.” It is an essential service reporters. “It was interesting to see how requiring exceptional management Naina fondly recalls three days CBC is responding to cuts by skills. Krista Harris personified job shadowing veteran reporter communicating through the web the application of such skills for a Paul Withers as he broke stories more and maximizing resources,” public good. involving Nova Scotia Power and Naina says. Nelson and Naina, who wants our province’s struggling mink That is the kind of perspective to specialize in journalism that farmers. The grueling twelve- fourth-year commerce student explores the emerging green hour days – no time for lunch Nelson Xie will have as this year’s economy, are able followers – showed her the human side of successful applicant. He’s an in Krista’s path. Naina knows, the economic theory she’d been accounting major with a particular from her experience in the CBC learning and gave her a chance to interest in the CBC’s financing newsroom, that it’s a difficult but see prominent political leaders in model. It’s in his blood; his father rewarding path to take. As she says, action. She saw Halifax from all is a VP of a television station in “It takes a lot of determination and angles, gaining perspectives of our China. curiosity, constantly looking for a city’s economy she didn’t know An internship at CBC shows our story in anything, always on your existed. students a non-traditional business feet.” 

Below left, Nelson Xie, photographed at a kite-flying event. Below right, Naina Garg (front left) poses with other members of the Sobey School Commerce Society Executive, 2014.

Autumn 2015 | Report to Community | Sobey School of Business 11 CONNECT WITH US

How would you like to be involved?

To discuss, please contact: Alumni?

Patricia Bradshaw, PhD Update your address, request a transcript, get Dean, Sobey School of Business your alumni card, or find out more about what’s Saint Mary’s University happening on campus: smu.ca/alumni Halifax, Nova Scotia, B3H 3C3 sobey.smu.ca Assistant: Donna Filek, 902.420.5422 [email protected] LinkedIn: ca.linkedin.com/bradshawpatricia