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The donation will establish the Canadian Credit Management Foundation Centre for Integrative Thinking, a new academic unit that will bring together internationally renowned scholars to redesign business education for the new century. The Centre is a cornerstone of the Rotman School's vision to rank among the top 10 business schools in the world within seven to 10 years.
The Centre will play a pivotal and far-reaching role in Canada, and in business education worldwide, by providing key resources needed to develop the world's first truly integrative business school curriculum.
"The current model of business education was developed at the Harvard Business School in 1908 and has changed little since," says Dean Roger Martin. He adds that the traditional model divides business into a number of functional areas such as marketing, finance or organizational behaviour. Although this model formed the foundation of business education and provided global leadership in the field for almost a century, it has inherent flaws that are becoming ever more exposed as the new economy takes shape.
"The fundamental problem is that business problems do not often lie within the boundaries of individual functional areas, but rather sprawl messily across the functions," Martin explains. "This gift from the CCMF will enable the Rotman School to take the lead in developing 'Business School 2.0' - a modern evolution of the traditional business school model.
The foresight and generosity of the CCMF will help put the University of Toronto at the leading edge of business and at the epicentre of a knowledge revolution. We are extraordinarily grateful for this transforming gift."
The $10-million CCMF donation will provide funding for two endowed chairs in integrative thinking and entrepreneurship, and a visiting scholars program. A portion of the funds is proposed to go towards building and equipping the physical premises of the CCMF Centre for Integrative Thinking. As well, the gift will provide funds for an endowed research program and the launch of a new academic journal that will share the work of the Centre with leading business thinkers worldwide. The University of Toronto will match the contribution to the two endowed chairs and will seek additional funds for related infrastructure projects.
"The complexity of today's management environment demands leaders who can think in new ways," says CCMF President and CEO Marcel Desautels. "CCMF is thrilled to be able to help make Roger Martin's vision for business education a reality and to be a part of an initiative that will have such far-reaching effects. In addition to attracting world-class scholars, students and researchers to Canada, the CCMF Centre for Integrative Thinking is expected to revolutionize business education worldwide and will place Canada and the University of Toronto at the centre of modern management thought."
The Canadian Credit Management Foundation was formed in 1996 following the sale of Creditel of Canada Limited, a business credit information firm serving 12,000 Canadian corporations. The foundation, with Desautels as president and CEO, supports specific educational organizations and institutions in Canada in the fields of business and finance. In addition to this gift, the CCMF has donated $1 million to create the University of Toronto Canadian Credit Management Foundation Fellowships at the Rotman School. When matched by the University and the Ontario Student Opportunity Trust Fund, the 1998 gift created a $3-million endowed fund for student aid. In 1999, the CCMF gave $1 million to the University of Manitoba and its College universitaire de Saint Boniface which, when matched by the Manitoba Scholarship and Bursary Initiative, creates a fund to assist undergraduate and graduate students in business and finance.
Dofasco, Industry Canada Summit Brings Leaders to Rotman
The summit will discuss how Canadians might find common ground to build a nation of unparalleled opportunity. Organizers hope the event will spur creative thought by bringing together leaders from the fields of business, government, education, health, and culture to discuss Canada's key choices. Participants include senior representatives from organizations including The Canadian Healthcare Association, the Canadian Broadcasting Corporation, Enbridge Inc., the University of Toronto, Industry Canada, Ontario SuperBuild Corporation, Dofasco, Angus Reid, Celestica Inc., and many more.
Attendance to the summit is by invitation only. The event will also be Webcast by both Rotman (www.rotman.utoronto.ca) and Dofasco Inc. ( www.dofasco.ca). Check the Rotman website for full event details.
Dean Roger Martin Visits Hong Kong Alumni and Business Leaders
Martin's visit comes just days after Rotman officially launches the Canadian Credit Management Foundation (CCMF) Centre for Integrative Thinking.
Martin is making a variety of fundraising and alumni relations calls, and will give a talk to Rotman alumni on how the School plans to introduce the world's first integrative business school curriculum.
Convocation for the Class of 2000
Staff and faculty are also invited to join graduating Commerce students during a pre-convocation luncheon on June 15 in the Fleck Atrium at 11:30 am.
Nominees Sought for Women Entrepreneur Awards
Nominees are judged on a variety of elements, including their spirit of adventure, a high standard of ethical behaviour, and their comfort with risk. The 2000 CWEYA program welcomes nominations in the following six categories: Start-up; Lifetime Achievement; Innovation; Impact on Local Economy; Export; and Young Entrepreneur. Previous winners are featured on the CWEYA Web site at www.cweya.com/winners99.
Candidates must have a controlling interest in a business registered and operating in Canada for a least three years. Complete eligibility requirements and nomination forms can be obtained at the Awards' new web site at www.cweya.com. The deadline for nominations is July 17, 2000.
This year's CWEYA sponsors include the National Post, Women's Television Network, Air Canada, Bank of Montreal, and Ford Canada. Award recipients will be honoured at a Gala Awards Ceremony and Dinner, to be held in Toronto on November 23, 2000.
Rotcom Team Receives Fourth Award
Celebrating the Sydney C. Cooper Chair in Business and Technology
Generations of Coopers came out to congratulate the Rotman School on this wonderful occasion, which included speeches by U of T President Robert Prichard, Deans Michael Charles and Roger Martin, Vice-President and Chief Development Officer Jon Dellandrea, Sydney Cooper, and Adam Bekhor, a Rotman MBA student and grandson of Sydney and Florence Cooper.
The chair will play a key role in the planned Jeffrey Skoll BASc/MBA program to be jointly administered by the Rotman School and the Faculty of Applied Science and Engineering. The chairholder's activities will include: teaching graduate students how to employ technology to enhance a company's business strategy; researching the impact of technology and interactive customer relations on product development, customization and marketing; and furthering the understanding of the ongoing impact that the widespread use of internet has on business.
New Team at Impact Consulting
Impact's core activities are business planning and marketing research for small- to medium-sized enterprises. However, Impact also has experience working with larger clients. Some past Impact clients include Visa International, Royal Bank of Canada, and Sweda Canada. Each of the current Impact partners is currently completing a full-time MBA and will graduate in May 2001. For further information please visit Impact's website at rotman.utoronto.ca/impact or give them a call at 978-4343.
Nigel Stokes Discusses the Experience Economy
Stokes, who is chair, president and CEO of DataMirror Corporation, a leading provider of business data integration software, spoke about "The Experience Economy" as part of the Rotman E-Biz Forum 2000 lecture series on May 1.
The most successful companies, he says, are those who have locked in a unique customer experience - which people can't get anywhere else. Every experience has the same four elements, according to Stokes: entertainment, esthetics, education, and escapism. New Economy companies must pay attention to these '4E's' in crafting their customer interactions.
Stokes pointed to some of the companies that are succeeding in the experience economy - including Starbucks, Peekaboo Daycare Centres, and the Pike Place Fish Market in Seattle. People are willing to pay a premium for the unique services and experience they offer. "Not long ago, a cup of coffee cost 69 cents. Now, people pay upwards of $4.50 for Starbucks products. What has changed, besides the price, is the experience being offered."
Stokes' goal for DataMirror is "to become world famous - not world class." That, he says, "is what the experience economy is all about."
Rotman's E-Biz Forum 2000 lecture series features Canada's leading E-Commerce strategists discussing the most pressing issues in both the business-to-consumer (B2C) and business-to-business (B2B) markets. The Forum will resume on September 25th after a summer hiatus. If you're interested in attending, please contact Jack Thompson at 978-0240, or via e-mail at thompson@rotman.utoronto.ca.
Executive Education Announces New Partnerships
In addition to these customized programs, Rotman will also be adding several new initiatives to our portfolio of open-enrollment programs including a workshop entitled "Understanding the New World of Financial Management" to be offered in partnership with the Financial Executives Institute and the Society for Certified Management Consultants.
Rotman Achieves National Media Success
The study also shows that, among Canadian universities, the University of Toronto accounts for 47 per cent of all expert quotes on business issues.
Rotman's Eric Kirzner has the third-highest media exposure of any professor in Canada. On business issues alone, Kirzner has the second highest exposure.
Finance Professor Michael Berkowitz has the eighth-highest media exposure among all professors.
Roger Martin has the highest media exposure among professors in the country on political issues, and the 15th highest overall media exposure of any professor in the country
Margaret Fleck Receives Honourary Degree from Trinity College
"This award is offered in recognition of your empathy for and practical commitment to the welfare of others, in particular, your lay and ordained work with youth in the Diocese of Toronto; for your concern for the needy, the mentally ill, the frail elderly and the homeless; and your support for spiritual growth opportunities in parish, hospital, monastic and university communities," said the citation received by Rev. Fleck.
After twenty-five years of marriage and four children, Rev. Fleck returned to School for a Master of Divinity degree at Trinity College and entered a second career as an Anglican parish priest and chaplain for the past twenty years.
The Fleck Atrium at the Rotman School is named in honour of the generous gift by Prof. and Rev. Fleck to the School.
Rotman in the News
Michael Berkowitz was quoted in an April 28 Toronto Star article on the establishment of Nasdaq Canada in Quebec later this year. The article was distributed nationally by Canadian Press.
"The payoff could be a lot bigger than the capital cost," said Dan Ondrack in the May issue of National Post Business referring to the increasingly common practice of firms giving computers to their employees. Prof. Ondrack was interviewed in April on the Microsoft anti-trust case on CBC Newsworld and CTV NewsNet. He also was quoted on human resources matters in the April issue of Human Resource Executive, an US-based magazine.
An op-ed by Andrew Stark, was published in the Wall Street Journal on March 31. The article, "Let's Make a Deal," was about commercialism in schools.
Roger Martin commented in the May issue of National Post Business on what it takes to join a top consulting firm. "Consulting firms are looking for a total package of skills. Most strategic consultants are more intelligent than the average executive. But just being brilliant isn't enough. You need interpersonal skills. And you need leadership - the courage to dive into a complex problem without simplifying it." The article also quoted Joe Martin, adjunct professor of business strategy.
Roger Martin was also interviewed by CBC Newsworld on May 1 regarding the Ontario budget and was featured in a Toronto Star business column on May 16 on the importance of a firm's moral purpose.
Tom Vassos, part-time marketing instructor, gave several interviews in recent weeks regarding the Microsoft anti-trust case and e-commerce issues.
Among his many media appearances, Jack Mintz, was quoted in the Asian Wall Street Journal on May 11 regarding foreign direct investment in Asia. The article can be viewed by WSJ subscribers at http://interactive.wsj.com/articles/SB957822565733082170.htm.
"It's getting to the consumer when they're in a mood to shop," said Sridhar Moorthy in an April 26 article in the Toronto Star of Procter & Gamble's plan to market laundry detergent with live commercials in stores. Prof. Moorthy was also quoted in a Globe & Mail article on the challenges that the evolving world of e-commerce poses to business schools. "We have to be careful that we don't make the curriculum faddish," said Prof. Moorthy.
Anil Verma was quoted in the Toronto Star on May 11 regarding the University of Toronto's new code of conduct for clothing suppliers.
Other Rotman professors in the news include David Dunne, Eric Kirzner, Scott Hawkins, Tom Wilson, Joseph D'Cruz, Ramy Elitzur, Len Brooks, Myron Gordon, Becky Reuber, Wendy Dobson, and Tom McCurdy. For complete details or to view the Rotman media binder, please contact Ken McGuffin, media relations officer, mcguffin@rotman.utoronto.ca.
Faculty News
Prof. Baum, Brian Silverman (formerly at Rotman, now at Harvard), and Tony Calabrese's (UofT Sociology) paper "Patent races, capital races, learning races and partnering races in Canadian biotechnology" has been nominated for the annual McKinsey/Strategic Management Society Best Conference Paper Prize at the upcoming Strategic Management Society 20th annual conference.
Jack Mintz, Arthur Andersen Professor of Taxation, has maintained a busy speaking schedule in his capacity as President and CEO of the C.D. Howe Institute. Among recent engagements, Prof. Mintz was a speaker at the Business Council on National Issues Economic Summit on April 5, the British Columbia Medical Association conference on May 12, and the Conference Board of Canada's Tax committee meeting on April 12.
In April Prof. Mintz joined Dean Roger Martin and Professor Wendy Dobson in giving presentations at a Federal Government Department of Finance Retreat. He reports that the Rotman representatives were the only business school professors invited.
A paper by Prof. Mintz, "Globalization of the Corporate Income Tax: The Use of Allocation," has been accepted for publication in Finanzarchiv, a European journal of economics.
Professor Sridhar Moorthy, Manny Rotman Chair in Marketing, presented his paper, "Advertising and Quality for Services," (co-authored with Ignatius Horstmann, University of Western Ontario) at Washington University at St. Louis on April 5, Carnegie Mellon University on April 12 and at the Columbia University Marketing Camp on May 20.
Richard Bird, adjunct professor of business economics, and co-director of Rotman's International Tax Program, has been appointed to the newly created position of Petro-Canada Scholar at the C.D. Howe Institute. Prof. Bird will examine areas of economic growth and innovation in his new position.
Finance professors Tom McCurdy and Kevin Wang presented invited papers at the Financial Econometrics Conference at the University of Waterloo's Centre for Advanced Studies in Finance in March. Prof. Wang's paper was entitled "Time-Varying Risk Aversion, Unexpected Inflation, and the Dynamics of the Term Structure." Prof. McCurdy presented "Nonlinear Features of Realized FX Volatility."
Recently, Gary Latham, Secretary of State Professor of Organizational Effectiveness, addressed Novo Nordisk in Portugal on "Leading and Motivating High Sales Teams." He also attended a conference of the Society of Industrial-Organizational Psychology in New Orleans where he presented three papers.
Ralph Winter, professor of finance, addressed the House of Commons Standing Committee on Industry on the need for changes to Canada's Competition Act during the second week of May. He also recently addressed the Queen's University Annual Symposium on Business Law on "Recent Developments in Canadian Competition Policy."
Upcoming Events
Tuesday May 30, 2000
Thursday June 1, 2000
Friday June 2, 2000
Saturday June 3, 2000
Monday June 12, 2000
Sunday, June 18 to Friday, June 23, 2000
For a comprehensive listing of Rotman School events, please visit our web site at: www.rotman.utoronto.ca/news/events.
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