TORONTO, March 7, 2001 -- The critical need for Canadian companies to see beyond their own borders in order to compete globally is a key component in the creation of a new endowed chair in competitiveness and prosperity at the University of Toronto’s Joseph L. Rotman School of Management.

Made possible by a gift from Douglas and Ruth Grant, the chair in competitiveness and prosperity will reside within the Centre for Global Competitiveness, one of the lead research centres at the Rotman School. The annual income generated by this gift will be supplemented by funds from the Canada Research Chairs (CRC) Program, enabling the support of a senior scholar.

Robert J. Birgeneau, president of the University of Toronto, says that the chair marks a new era in funding at the university. “This donation from the Grants and funding through the Government of Canada’s inspired CRC program is proof-positive of how the private and public sectors can together play a leading role in retaining the country’s best academic brains. The work of the chair holder will also have a far-reaching impact, contributing to the overall competitiveness of the Canadian economy and helping to enhance our international standing amongst our trading partners.”

The chair will focus on the development and dissemination of innovative strategies to enhance the competitiveness of both regions and nations. The chair holder will be an international scholar in competitiveness issues and will study transitions and trends in the nature of competition and the process of globalization. The chair will also be dedicated to creating and disseminating research on competitiveness policy in Canada’s public and private sectors.

“There is a strong sense throughout the nation that Canada is at a crossroads,” says Roger Martin, dean of the Rotman School. “While the lack of a federal deficit, low interest rates and low inflation are positive indicators, Canada’s standard of living has declined dramatically over the last nine years. The Canadian dollar which stood at 87 cents in 1991, fell to 65 cents by mid-1998 and has remained at the 65 to 69 cent range ever since.” Martin says in international terms, this represents a cut in pay in excess of 20 per cent for all Canadians.

“Just as corporations cannot be expected to win without a defined strategy, Canada will not win in the global economy unless we pursue innovation and upgrade our productivity,” he explains. “This gift will play an important role in improving Canada’s chance for long-term prosperity.”

The Rotman School’s mission is to become one of the world’s top ten business schools. Located in Canada’s business capital, the school is moving forward with a new dean and a new vision. The current global economic turbulence has created an opportunity for the school to contribute to Canada’s competitiveness and stake out uncharted new territory in business education, making a mark by focusing on integrative thinking for global competitive advantage in an environment that views each individual as a uniquely valuable asset.

The University of Toronto was allocated 271 Canada Research Chairs in 2000 the most of any institution in Canada which will be established strategically across a range of research fields over the next four years, clustered in areas of academic priority. The clusters will cross over disciplines, faculties and granting council jurisdictions and be organized around a common research agenda or build on current research strengths.

For further information, please contact:

Ken McGuffin
Media Relations Officer
Rotman School of Management
Voice: (416) 946-3818
E-mail: mcguffin@rotman.utoronto.ca

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