May 18, 2000 - TORONTO, ON -- Changing the way business schools teach business is at the heart of a $10-million gift from the Canadian Credit Management Foundation (CCMF) to the University of Toronto's Joseph L. Rotman School of Management. 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 Professor Roger Martin, dean of the Rotman School. 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 Inititative, creates a fund to assist undergraduate and graduate students in business and finance.