Faculty of Business Administration - University of New Brunswick

Entrepreneurship and investment - two popular themes in UNB’s business administration degree program are realized in the extra-curricular activities of one UNB business student. Seth Richardson, a second year BBA student with UNB’s Business Administration Faculty might be the Province’s youngest president and CEO, according to an article in the NB Telegraph Journal. At 19 years of age, Seth runs one of the Internet’s top investment message board websites, Investor’s Paradise Inc., ranked number five among other sites of its kind by Alexa.com . Seth's company has also been recently profiled in the Daily Gleaner.

Seth founded Investor’s Paradise Inc. out of his love for trading stock, a love that dates back to when he was 13 years old and first started investing. From his experience he realized good information for investors was not easy to find over the Internet. The investment message boards he visited were not always helpful. This inspired him at the age of 18 to create his own message board for investors.

Currently, his website offers 18 message boards to 1059 members who correspond with each other about more than 1,374 different topics. The information available on the site ranges from advice from experienced investors and analysis from professional investors to explanations of investment terms. Investor’s Paradise Inc. also provides investors a place where they can talk about stocks, politics “and anything else, far away from the problems of the larger Internet.” One of the things that draws so many people to Investor’s Paradise Inc. is the fact that the site is closely monitored to keep it free from spam or false and misleading stock tips.

Seth is a resident of Hanwell, NB; his website can be viewed at www.investorsparadise.com. [See NB Telegraph Journal, March 18, 2006; and Daily Gleaner March 6, 2006.]

Posted at 11:48 AM

A team of UNB business administration students placed second worldwide in the Capstone Business Simulation game. Gary Inman, John MacDonald, Barnaby Riberiro, Tyler Richards and Justin Urquhart formed the “Andrews” team, one of a number of student teams formed in the Competitive Strategy course taught by Dr. Martin Wielemaker.

Students in the BBA program at the Faculty of Business Administration complete the requirements of the degree with the Competitive Strategy course in their fourth year. Participation in the Capstone Business Simulation game is built into Wielemaker’s course requirements because it provides hands-on involvement, teamwork and competition in a realistic simulation setting. Students are divided into teams and compete against each other in the Capstone game. Each team is responsible for running a company in a particular industry; together the students make decisions about their company’s marketing and sales strategies, research and development, production, and finance. One of the neat things about Capstone is that each team’s performance is based on how well the team competes with the other teams in the industry.

Capstone also allows student teams to compare their results with teams in other schools worldwide. This year, out of more than 370 business schools worldwide, (which includes such schools as Harvard Business School and Georgia Tech) the above UNB team placed second in terms of their final profit in the 8th and final round of the game. They achieved fourth place worldwide in terms of their cumulative profit across the game’s eight rounds.

Posted at 3:29 PM

Dr. Basu Sharma of our Organization Studies area is part of a team that has just been awarded $2.5 million from the Atlantic Innovation Fund (AIF) program. The project entails collaboration between the University of New Brunswick and several private sector partners including ADI Ltd., Remsoft Inc., xwave and Martec Ltd. Dr. Sharma was asked to join the team because of his expertise in managerial practices.

The Honorable Gregory Thompson, Minister of Veterans Affairs, announced the AIF funding on March 31, 2006, at a news conference held at the Wu Conference Centre. The project, “Advanced Processes for Infrastructure Asset Management Systems,” will combine business, engineering and economic practices to the maintenance, upgrading and operation of roads, bridges, buildings and water or wastewater systems. It will form the basis for new asset management consulting services for the commercial partners and a Centre of Excellence at UNB. The research team will study current asset management processes to determine best practices; develop multi-disciplinary solutions to address practice issues related to operating civil infrastructure; and develop software to facilitate long-term planning for different types of civil infrastructure assets. Dr. Donald Mrawira with UNB’s Department of Civil Engineering, is the team leader.

The objectives of the AIF are to increase activity in and to build capacity for innovation and research and development that leads to technologies, projects, processes or services that contribute to economic growth in Atlantic Canada; increase the capacity for commercialization of R&D outputs; strengthen the region’s innovation capacity by supporting research, development and commercialization partnerships and alliances among private sector firms, universities, research institutions and other organizations in Atlantic Canada; and maximize the region’s ability to access nation R&D funding programs.

Posted at 1:45 PM

Hats off to Kara Hachey and Jeff Barrett! These two UNB students won $20,000 to start their own business in a recent business plan competition sponsored by the New Brunswick Innovation Foundation (NBIF). Their business plan for Go - Go Gymnastics Inc. won the 2006 Student Entrepreneurship Prize in the university category of the contest. Their award was presented during an award ceremony held on March 29, hosted by Barrie Black, President and CEO of NBIF.

Go – Go Gymnastics Inc. has been a winner for Kara and Jeff since they first developed the business plan last fall as a class project in their New Venture and Entrepreneurship class and won the Merritthew de Grandpre prize in Entrepreneurship (this $1000 prize is awarded to the student(s) who write the business plan in the class). Two other students were involved in the business plan as well, Baboloki Kgomostos and Sarah Prosser. Kara and Jeff next entered the plan for Go – Go Gymnastics Inc. in the CIBC Business Plan competition, hosted by the Faculty of Business Administration last December, where they won the “pitch” contest, bringing in cash prize worth $250. After Dr. Wielemaker suggested they enter this idea for a new business into the NBIF contest, the two students worked for hours to refine the business plan. Their work paid off in March, when they won the top prize of $20,000 to go towards starting their business. They will also benefit from free mentorship provided by seasoned business people involved with NBIF.

The NBIF contest was open to New Brunswick students attending university and community college and who expect to graduate in 2006. Applicants were invited to enter the contest by submitting business plans for innovative products, services and technology. Kara Hachey is just completing the MBA program at UNB Fredericton, while Jeff is completing a degree in Engineering; both students expect to graduate in May 2006. Already incorporated with a pilot project in the works for School District 18 next fall, Go – Go Gymnastics Inc. will be the only mobile gymnastics center that offers recreational gymnastics programs to school aged children in the greater Fredericton area, primarily in the after school hours. In addition to its recreational programs, gymnastics classes will be offered at various events such as school fairs, community days, birthday parties, etc. Mobility is one of the defining features of this company, as it will reach communities where gymnastic services do not exist. Members of the UNB community are looking forward to hearing more about this innovative company.

Posted at 3:27 PM