Faculty of Business Administration - University of New Brunswick

The Society for Human Resource Management (SHRM) recently announced that UNB’s BBA with a major in Human Resource Management degree program offered on the Fredericton campus through the faculty of business administration fully aligns with the recommended requirements for HR degree programs, as outlined in the SHRM HR Curriculum Guidebook and Templates.

The SHRM devised the curriculum guidebook and templates in 2005, as a way to provide universities and colleges a resource for tracking HR Curricula against a common, minimum skill set needed by employers who seek to fill HR positions. The template identifies 13 minimum core HR topics that should be required curriculum in every HR degree program, as well as 11 elective HR topics to complement the required core.

An important feature of the HR curriculum template is that it offers professors greater flexibility in devising their HR courses, while providing a minimum level of standardization for HR content being taught.

SHRM has also gained the support of the Association to Advance Collegiate Schools of Business (AACSB) International in an effort to bring a similar level of commonality to HR degree programs that is required of AACSB accredited Schools of Business.

Representatives from the SHRM met with the faculty of business administration and engaged in talks regarding the current HR curriculum. After thorough discussions and assessment of the topics, courses, business context, and delivery methods used by UNB, it was determined that the HR honours program fully aligns with the standards SHRM laid out in their guidebook and templates.

Affiliations with professional associations, such as SHRM are extremely important for students and the university. This certification distinguishes UNB’s HR program as being taught in accordance with the highest of standards, giving students the skills and training they need for successful careers in human resources management.

Posted at 1:36 PM

The Faculty of Business Administration at the University of New Brunswick held its 21st annual Business Awards Dinner on Wednesday, November 5, at the Delta Fredericton Hotel.

Three hundred guests joined the faculty to celebrate the academic achievements of business students, the professional accomplishments of graduates, and to show appreciation to donors and friends. The audience was made up of students and their families, faculty members, university officials, donors and business partners.

More than $326, 683 in scholarships, bursaries and prizes were awarded this year to business students. These students, as well as those on the BBA and MBA Dean’s Lists were recognized during the awards ceremony.

Glenn Goucher and David W. Stevenson both received 2008 Certificates of Achievement. This certificate is given each year to business graduates who have made significant contributions to their professions and communities. Glenn Goucher, CFA (BSE ’86, MBA ’92) is the senior vice-president, Financial Markets, for The Montreal Exchange. David W. Stevenson, FCA, CAIRP (BBA ’68) is a partner with Stevenson & Partners LLP.

This year, two Certificates of Appreciation were presented to the following: The Canadian Imperial Bank of Commerce (CIBC), and Kathleen and Terry Malley of Malley Industries Inc. Phillip Filleul, Associate Vice-President, NB, CIBC Retail Distribution, accepted the Certificate on behalf of CIBC. Kathleen Malley is the human resources and communications director for Malley Industries Inc., while Terry Malley is the chief executive officer.

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Posted at 3:15 PM

NEW MBA WTIH CONCENTRATION IN ENTREPRENEURSHIP APPROVED FOR UNB FREDERICTON

Students completing an MBA at UNB Fredericton’s Faculty of Business Administration now have an option to complete a concentration in entrepreneurship as part of their degree. The MBA with concentration in entrepreneurship has just received approval from the Maritime Provinces Higher Education Commission.

Until now, students in the MBA program could take entrepreneurship courses as electives during their second year. The new concentration will allow them to further specialize in this area and receive the designation on their degree when they graduate.

“This concentration in entrepreneurship is a great opportunity for our students, the province and employers”, said Dan Coleman, Dean of the Faculty of Business Administration. “Students completing the concentration will graduate with the knowledge and skills to start their own ventures if they are so driven.”

Even if students do not choose to start their own companies after completing this program, Dean Coleman explained, they will be equipped with the entrepreneurial skills to recognize new viable opportunities for the companies they work for, and the tools to gauge the marketplace and assess risk effectively in uncertain and changing environments. “Either way, the Province will benefit by having more graduates with entrepreneurial skills.”

The concentration in entrepreneurship will entail completing a series of required entrepreneurship courses in the second year of the two-year MBA program. This means that students who entered UNB’s MBA program in fall 2008 will be able to take advantage of this new option. Students graduating in May 2009 will even be able to receive this designation on their degree so long as they have completed the prescribed courses.

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Posted at 3:39 PM

The Faculty of Business Administration's Centre for Financial Studies (CFS) will host Mr. Robert McKim, former CEO of Halifax-based Seamark Asset Management, as its 2008 Executive-in-Residence. 

As the Centre’s Executive-in-Residence, Mr. McKim will deliver three presentations to students, faculty and the public on October 9-10th, 2008.Mr. McKim’s presentation, “How’s Your Appetite for Investment Risk?” will be held on Thursday, October 9th, 2008 at 7:00 p.m. in the Chancellor’s Room at UNB’s Wu Conference Centre. A reception will follow at 8:15 p.m. 

As part of the Centre’s community outreach initiatives, the public is encouraged to attend this very topical presentation.  There is no charge to attend but attendees must register in advance. 

Students and faculty are also invited to attend Mr. McKim’s presentation that afternoon from 3:00 to 4:00 p.m. in the Centre’s TSX Group boardroom, Tilley 300.  McKim will speak about his career and the lessons he has learned along the way.

Mr. McKim will then speak to students in the Student Investment Fund (SIF) program, where students invest real money in the capital markets.  He will also provide insight into the current market situation.

“The purpose of the Centre’s Executive-in-Residence program is to have successful investment professionals speak to the students, as well as the community, about their personal career experiences  as well as the technical side of investment,” says the Centre’s founding director, professor Glenn Cleland.

Cleland views the Executive-in-Residence as a valuable mentorship opportunity for the SIF’s aspiring financial professionals.

Robert McKim’s experience at Seamark Asset Management spanned 20 years during which the firm grew from a small regional investment management firm with three employees, to a mid-sized national firm, listed on the Toronto Stock Exchange (TSX), and employing a staff of 45. At its peak, in 2005, Seamark had assets under management of $10.8 billion.

Mr. McKim joined Seabrook in 1984 as a Portfolio Manager; was appointed President and Chief Operating Officer in 1996 and Chief Executive Officer in 2004. He was a key player in the transaction that took Seamark Asset Management through its initial public offering and listing on the TSX in 2000. Mr. McKim retired from Seamark in 2005.

People interested in attending the public presentation (October 9th, 2008, 7:00 – 9:30 p.m. Wu Centre) should RSVP via e-mail, sboyce@unb.ca, or by calling 506.453.4895 by October 8th.

The Centre for Financial Studies hosted its first Executive-in-Residence, Doug Turnbull, Deputy Chairman of TD Securities Inc., in 2007.

Posted at 10:36 AM

Lynn Haley and Candace Morgan, two human resources instructors in UNB’s Faculty of Business Administration, were swamped with requests last year from students wanting to be more ‘networked’ and informed about the HR opportunities available in the region upon graduation.

Looking to fulfill this student need, the pair brainstormed ways in which they could play a larger role in connecting their students with the business community.

Haley and Morgan invited students, both BBA and MBA, who were honouring, concentrating or simply interested in a career in HR to an information session on forming an HR student group. An impressive influx of approximately 50 students attended the meeting. The student interest was obvious, and Haley and Morgan had the passion and contacts to get a HR student group off the ground.

An informal student group was established for the 2007/2008 academic year, composed of BBA and MBA students, as well as recent alumni.

Morgan, an executive member of the Human Resources Association of New Brunswick (HRANB), Fredericton chapter, organized an information session for the students on the Certified Human Resources Professional (CHRP) designation, the highest level of qualification in human resources management in Canada. The positive response from students led Morgan to set up a study group for those writing their CHRP examination upon graduation. All three students - Stephanie O'Donnell, Laura Campbell, and David Goodland - made passing grades.

Student interest for a more formal student association was becoming clearer, sothe 2008/2009 academic year marks the inception of the Human Resources Student Association (HRSA) at UNB.

The HRSA’s inaugural meeting will take place in the coming weeks. Students and alumni are welcome to attend. Available positions for the executive (2008/2009 academic year) will include President, Vice President and Treasurer.

Championed by the duo, Haley and Morgan see the HRSA being a successful student-driven group in the years to come.

“It is critical for students to be aware of the different careers within the HR profession,” explains Morgan. “The HRSA will give students the opportunity to be exposed to the business community before graduation through information sessions by HR professionals as well as valuable networking opportunities.”

“Networks are critical,” agrees Haley. “Students need mentorship opportunities with professionals and the HRSA will help make these links.”

Through the events held by the HRSA, students’ connections with the business community may see them acquire HR internships and Co-op placements.

“Connecting students with those working in the industry is a win-win situation,” says Morgan. “It’s also important for students to see the practical side of HR, to complement the theoretical learning done in the classroom,” she adds.

This year, the HRSA will offer study sessions for the CHRP designation as well as information sessions with guest speakers from the business community. On top of this, the HRSA executive will plan other events of interest to its student members.

There will be a general e-mail going out to all students by the end of next week explaining how to join. Interested alumni may contact Lynn Haley or Candace Morgan.

lhaley1@unb.ca
morgan@unb.ca

Posted at 10:10 AM

Dean Daniel F. Coleman of the Faculty of Business Administration at the University of New Brunswick’s in Fredericton announced that thirty of the faculty’s Master of Buiness Administration students have earned a place on the Dean’s List for 2007-2008.

Students on the list had attained a sessional grade-point average of at least 3.7 or A- for the academic year.

During the 2007-08 academic year, 90 students were enrolled in the faculty’s bachelor of business administration program.

Click here to download the 2007-2008 undergraduate Dean’s List.

Posted at 8:56 AM

Dean Daniel F. Coleman of the Faculty of Business Administration at the University of New Brunswick’s in Fredericton announced that one hundred and thirty-three of the faculty’s Bachelor of Buiness Administration students have earned a place on the Dean’s List for 2007-2008.

Students on the list had attained a sessional grade-point average of at least 3.7 or A- for the academic year.

During the 2007-08 academic year, 1200 students were enrolled in the faculty’s bachelor of business administration program.

Click here to download the 2007-2008 undergraduate Dean’s List.

Posted at 8:27 AM

UNB's Faculty of Business Administration is proud to announce the publication of the first issue of our faculty newsletter, Connections. The newsletter offers stories about the accomplishments and achievements of the faculty, staff, students and alumni; and features news about our events and academic programs.

Connections, UNB's Faculty of Business Administration's Newsletter, will be published bi-annually at the end of each academic term. If you have comments, questions, or suggestions for future stories please contact us at FBAConnections@unb.ca.

Follow this link to read the first issue of Connections: Click here.

Posted at 12:00 PM

Two employees of the Faculty of Business Administration were honoured with 2007 UNB Distinguished Service Awards: Wiktor Askanas, Professor of Strategy; and Assad David, Director of International Partnership Programs. The Distinguished Service Awards honours current employees of the University of New Brunswick for outstanding service to the university in the areas of teaching, research, or administrative contributions.

Nominations for Distinguished Service Awards are submitted each year to the Dean by faculty, and then forwarded to the UNB selection committee. The recipients are recognized at a ceremony hosted by the President. This year, the awards presentation took place on Tuesday April 10, at the Wu Conference Centre.

Wiktor Askanas joined the Faculty in 1983 and is a member of the Strategy and Marketing Area. He teaches courses in Integrative Studies and Strategic Management in the MBA program and Organizational Design in the BBA program. (Click here to read the Dean’s Citation delivered at the time of the award presentation.)

Assad David joined the Faculty in 2000 to manage the international partnership programs, which includes partnerships with University of the West Indies in Trinidad and Tobago and with the Sadat Academy of Management Sciences in Cairo, Egypt to deliver the UNBF BBA degree; and the partnership with the International Institute for Business in Kyiv, Ukraine, to deliver the UNBF MBA degree. (Click here to read the Dean’s Citation delivered at the time of the award presentation.)

Posted at 11:06 AM

The University of New Brunswick in Fredericton swept the New Brunswick Innovation Foundation (NBIF) Student Entrepreneurship Competition last month, taking first, second and third place in the university category.

MBA students Edgar Gallibois, Karen Freeman and Robert Morrow took home the $20,000 first prize for their company VerifyRx.

VerifyRx provides physicians and pharmacists with a real-time decision support solution that enables them to better determine the risk of abuse, allowing valid prescriptions to be processed, while quickly identifying and stopping fraudulent prescriptions and individuals engaged in doctor shopping.

Second place went to engineering students Wei Zhang, Tao Peng and Riu Zhou for their company Dynamic Restaurant Customer Management. They received $10,000.
The $5,000 third place prize went to engineering students Brent Crawford, Jonathan Gravel, Laura Paul and Travis Skinner for their company Extra Vision.

Recipients of the NBIF Student Entrepreneurship prizes were selected for the quality and financial consideration demonstrated in their business plans, innovation, and commercial viability, as well as for their potential business and leadership skills. The funds will allow recipients to build a foundation for development and growth.

NBIF focuses on stimulating innovation in New Brunswick in order to improve productivity and advance the knowledge based economy.

For a complete list of prize recipients, visit www.nbif.ca/news/2007SEPrecipients.html.

Posted at 9:26 AM

A team made up of MBA students from the University of New Brunswick in
Fredericton will compete this month in the IBK Capital - Ivey Business Plan
Competition at the Richard Ivey School of Business in London, Ont. The
competition, taking place March 30 and 31, is Canada's largest MBA business
plan competition

VerifyRx, was selected as one of the top 12 innovative business ideas from
all across Canada. The two-year old New Brunswick company was founded by
UNBF MBA students Rob Morrow, Karen Freeman, and Edgar Gallibois. They are
looking to commercialize their technology which is designed to help
pharmacists quickly verify prescriptions by determining the potential risk
of abuse.

"VerifyRx is proud to represent UNB, the faculty of business administration,
and the province at this national event, and we are very thankful for all
the support it has received," said Edgar Gallibois president and chief
operating officer of VerifyRx. "Prescription drug abuse is a very large
problem that affects not only New Brunswick, but all of North America. We
believe that there is a significant opportunity to help people by reducing
the problem of prescription drug abuse and creating a successful business."

VerifyRx will also compete at the local New Brunswick Innovation Foundation
Student Entrepreneurship competition later this month.

Big Ideas in NB. Government Encourages Innovation and Supports Higher Education


From left Marcel Lebrun, CEO of Radian6 and chief business advisor for
VerifyRx; Edgar Gallibois; Shawn Graham, premier of New Brunswick; Dan
Coleman, dean of the faculty of business administration at UNBF; and
Greg Bryne, minister of Business New Brunswick

Posted at 9:38 AM

At the Canadian Interuniversity Sport Men’s Hockey Awards Gala held March 20th at the Crowne Plaza Hotel in Moncton, N.B., Colin Sinclair was recognized as the 2006-07 recipient of the Dr. Randy Gregg Award. This award honours the player who best combines outstanding hockey ability, academic achievement and community involvement. Colin is the first UNB hockey player to ever receive this award.

“It’s an unbelievable award for Colin and for the University of New Brunswick. To be the top student-athlete in Canadian University Hockey speaks highly of the character and the outstanding contribution Colin has made to our program and to CIS hockey and we hope that is a real good sign of things to come at this tournament,” commented coach Gardiner MacDougall.

Colin is a three-time CIS Academic All Canadian and Dean’s List student who fast tracked his four-year Business Degree at UNB Fredericton and graduated in three years; he is currently enrolled in a two-year Master’s program there. He is the hockey team’s representative to Athletes Council and is also actively involved in the Fredericton community with the ‘Read with the Reds’ and ‘Heads up with the Reds’ volunteer programs at UNB

Sinclair recently received the AUS most prestigious award, the James Bayer Scholarship, which is awarded annually to an outstanding student athlete in Atlantic University Sport for excellence in academics, athletics, leadership, sportsmanship and citizenship.

“It’s overwhelming to receive these awards. It mean’s a lot to me, but I couldn’t have done it without my team-mates and the support of my family. I deeply honoured to receive both of these awards,” commented Sinclair.

Sinclair, from Brooks, Alberta, was the co-captain of Canada’s gold medal winning Winter Universiade 2007 team. He is UNB’s best defensive forward and is an assistant captain on the V-Reds squad.

"Colin is simply an outstanding individual,” stated Dr. Daniel Coleman, Dean of the Business Administration Faculty at UNB Fredericton, when he learned of Colin’s award. “He’s obviously a superb athlete, but he's also a very good student, having graduated with distinction from our BBA program, and doing very well in his MBA studies. He's also a nice guy. We in the FBA have benefited from his presence in our programs, and we congratulate him on receiving these well deserved awards."

Posted at 3:06 PM

Kirby Shannahan, the newest member of the faculty of business administration at the University of New Brunswick in Fredericton, received an award this month from the American Marketing Association at its 2007 winter conference.

Dr. Shannahan, a marketing professor, was awarded the Direct Selling Educational Foundation Grant for his PhD dissertation entitled The Relationship of Salesperson Coachability, Trait Competitiveness, and Leadership Style on Salesperson Performance: An Interactionist Perspective.

"We were delighted to learn that Dr. Shannahan has received this award,” said Dan Coleman, dean of the faulty of business administration at UNB Fredericton. “Not only is it a great personal achievement for Kirby, but it also reflects well on our faculty, clearly demonstrating that we have one of the best young marketing faculty members in North America. Kirby just joined us in September, and he's already added to our strong marketing area and programs."

Dr. Shannahan is one of five people to receive this award from across North America and Europe.

"After working so hard on this dissertation I was pleasantly surprised to learn that I was one of five people chosen to receive this award,” said Mr. Shannahan. “Of course, I'm really happy to have the recognition from my peers, but I never expected it."

The $2,000 cash prize associated with the award will further the research he has already been conducting in the southern United States on sales professionals. He is also going to focus on firms in Atlantic Canada that have professional sales staff.

In addition to collecting his award, Dr. Shannahan also presented two papers at the conference -- one on professional selling (his dissertation) and the other on advertising.

Dr. Shannahan is developing a new course on professional selling, which will offered for the first time in Intersession 2007. Within a few years, he would like to help establish a Centre for Professional Selling at UNB Fredericton to help undergraduate and graduate students as well as salespeople to develop their professional selling and sales management skills.

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Posted at 11:24 AM

Two business administration faculty members at the University of New Brunswick in Fredericton have received national appointments.

Wiktor Askanas has been appointed lay member of the Competition Tribunal and Norman Betts has been appointed to the Board of Directors of Export Development Canada.

"The appointments of professors Askanas and Betts are a significant
personal recognition and reflect well on the faculty of business administration at UNB,” said Dan Coleman, dean of the faculty of business administration at UNB Fredericton. “Both men epitomize the quality of the faculty members in the faculty of business administration and our students greatly benefit from the unique combination of their academic knowledge and practical experience.”

Wiktor Askanas is an internationally recognized expert in the areas of
international business strategy and governance. He joined the faculty of business administration at UNB Fredericton in 1983 and teaches business strategy and marketing. He has been the recipient of many awards over his academic career including the Allan B. Stuart Excellence in Teaching Award, the 3M Teaching Fellowship, and the 2003 National Post Business Educator Award. In 2004-05, he was acting dean of the faculty of business administration.

Prior to coming to UNB, Dr. Askanas worked for a number of business organizations and universities in Poland, the United States, France, Mexico and Canada. He is a member of several boards of directors and is senior adviser to the chairman of the Polish Pension and Insurance Supervisory Commission. In 2003, by the decree of the President of Poland, he became a Knight of the Order of Merit, in recognition of his contribution to the wellness of Polish Society.

Norm Betts is a chartered accountant and a fellow of the Institute of Chartered Accountants. He joined the faculty of business administration at UNB Fredericton in 1992. He teaches intermediate accounting in the BBA program and accounting and decision making in the MBA program. He was assistant dean of graduate studies from 1994 to 1997.

Dr. Betts is director of New Brunswick Power Holdings. He is a member of the board of directors of Tembec Inc. and chairs the audit committees for Minacs Worldwide Inc., Slam Exploration Ltd., and Tan Range Exploration Ltd. He is a co-chair of the board of trustees of the UNB Pension Plan for Academic Employees and is a director of the Nature Conservancy for the Atlantic region. Dr. Betts is a former provincial minister of finance and minister of Business New Brunswick.

Export Development Canada provides Canadian exporters with financing, insurance and bonding services, and foreign market expertise.

The Competition Tribunal is a specialized tribunal that hears and decides all applications made under parts VII.1 and VIII of the Competition Act -- these deal with deceptive marketing and restrictive trade practices.

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Posted at 9:21 AM

The University of New Brunswick’s elite Student Investment Fund (SIF) program continues to break new ground.

On Jan. 10, students from the SIF program, along with Frank McKenna, deputy chair of TD Bank Financial, opened the market at the Toronto Stock Exchange (TSX). TSX Group CEO Richard Nesbitt was also present for the occasion.

The students are in Toronto this week as part of an experiential learning component of the SIF program. The integration of theory and practical learning is a key element of the prestigious program.

The Student Investment Fund program is the core program within the Centre for Financial Studies, housed within the faculty of business administration at UNB Fredericton. TSX has given accolades to the SIF program calling it Canada’s leading university undergraduate financial services education program. In 2006, both the TSX Group and TD Bank offered multi-year financial gifts to support the work of the centre and the SIF.

Students in the SIF program manage real money. The current portfolio is at about $2 million, a considerable increase over the $1 million they began with roughly nine years ago.

The SIF program’s financial learning lab, the TSX Group boardroom, is set up to replicate a small investment firm. Sophisticated, leading-edge, industry-standard equipment, such as the Bloomberg professional dual monitor terminal, allow students access to current information to make informed investment decisions. Students work individually and in groups, learning group dynamics and collaborative team-building. Industry professionals also make guest appearances to the boardroom to enhance students’ learning experience by providing practical insight into relevant subjects and issues.

For the past several years, Glenn Cleland, founder of the centre and the SIF program has made the visit to Canada’s financial heartland a staple of the investment students’ learning experience. Over a three-day period the students put miles on their shoes as they trek around downtown Toronto with Prof. Cleland to meet with investment industry leaders from more than 20 firms.

This year’s tour included a visit to Barclays Global Investors Canada Limited. During this visit, the SIF class presented the firm’s president and CEO Rajiv Silgardo with the 2006 Canadian Money Manager of the Year Award. The recipient of this award is determined each year by an in depth analysis of Canadian money managers undertaken by the students.

With many more miles on the soles of their shoes and significantly greater insight into the investment industry, the students conclude their aggressive road trip on Jan. 12.

“If you can survive this pace for five days, you may have a chance at succeeding in many areas of the investment business,” said Prof. Cleland to his students. “If you can do it for seven days a week you may be able to keep up with the investment bankers.”

For more information, contact Susan Boyce at sboyce@unb.ca or 453-4895.

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Posted at 4:16 PM

A third-year business student at the University of New Brunswick in Fredericton has received one of the region's top academic prizes. Gordon Margison (shown below) is the recipient of a Frank H. Sobey Business Excellence Award for 2006-07.

Valued at $10,000, the award honours outstanding academic achievement and community involvement. Mr. Margison, is the son of Douglas Margison and Jennifer Griffiths of Fredericton. He is a full-time student studying aviation and operations management. This unique three-year program integrates commercial flight training with essential business and management skills development.

Outside of university, Mr. Margison is a scout leader, volunteers with the ski patrol at Crabbe Mountain, and tutors fellow students in preparation for their pilot’s licensing exams.
"Gordon Margison is clearly an outstanding student," said Dan Coleman, dean of the faculty of business administration at UNBF. "We were very pleased to recommend him for the Sobey Award, pleased that he received it, and thankful to Sobeys for sponsoring this scholarship which recognizes excellence in business studies."

Mr. Margison feels honoured to even be considered for the award. "It was with great surprise and even greater pride that I received the Frank H. Sobey Award for Business Excellence and join a long list of admirable recipients,” said Mr. Margison.

Mr. Margison has his commercial pilot’s license. This award will allow him to continue his aviation career and obtain an instructor rating for his pilot’s license so that he can teach new students how to fly and share in one of his passions.

His future plans also include managing and flying with a corporate flight department or an international MedEvac operation, but for now he plans to continue working in the community and preparing for graduation in May.

The Frank H. Sobey Fund for Excellence in Business Studies was established in 1989 in memory of Frank H. Sobey, the late chairperson of Sobeys Inc. and Empire Co. Ltd. It supports as many as six awards each year. To be eligible, candidates must be residents of the Atlantic provinces, have completed one year of business studies, and be enrolled full-time in a faculty of business at a university in New Brunswick, Nova Scotia, Prince Edward Island or Newfoundland and Labrador.

The academic qualification for these awards is a minimum overall average of 85 per cent or 3.67 grade points with no individual mark below 80 per cent. The recipients are recommended by the deans of their respective faculties of business. Final selections are made by the board of the scholarship fund.

This is the 11th time that a student from the UNBF faculty of business administration has received the Frank H. Sobey Business Excellence Award.

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Posted at 9:06 AM

Aspiring entrepreneurs from across the Atlantic region gathered in UNB Fredericton on November 30 and December 1 to compete for over $20,500 in cash prizes at UNB’s CIBC Business Plan Competition. Over 20 teams from 7 different universities in Atlantic Canada and Maine competed in the 4th annual business plan competition hosted by UNB’s Faculty of Business Administration. The competition concluded on a dramatic and highly entertaining note with a keynote lecture from John Dunsworth, aka “Mr. Lahey” from Showtime’s The Trailer Park Boy’s, who is himself an entrepreneur with interests in over 8 companies.

The competition offered three tracks for would-be entrepreneurs to compete in: undergraduate, graduate, and private sector (for non-university students.) The two-day program also featured “elevator pitches” and “vodcasting”, in which teams pitched their business plans to judges within one-minute segments. Additionally, Robert Austin, with the Harvard School of Business, lectured to participants and coaches on the topic of entrepreneurship and technology.

One of North America’s most prominent financial institutions, CIBC donated $300,000 to the Faculty of Business Administration through UNB’s Forging our Futures campaign; $250,000 of this is supporting the CIBC Business Plan Competition over five years. The purpose of the competition, which has just completed the second year with CIBC as its major sponsor, is to help grow an entrepreneurial culture in the Atlantic Region.

In the graduate division, the UNB team that developed the business plan for VerifyRX. Inc. won the grand prize of $5,000 sponsored by CIBC. The runner up prize of $600, sponsored by UNB’s J. Herbert Smith Centre, went to the Dalhousie team that developed the plan for TROPE. A prize of $500, sponsored by LifeofSports.com, went to VerifyRX. Inc. for the best elevator pitch.

In the Undergraduate division of the competition, the team from Memorial University who developed the plan for The Autism Soccer Association won the grand prize of $5,000 sponsored by CIBC. The runner-up prize of $600, sponsored by UNB’s J. Herbert Smith Centre, went to the UNB team that developed the plan for Endurance Sport Camps. The St. Mary’s team that presented their business plan for PetLife Assurance Co. won best financials, a prize of $500 donated by ADI. The prize for best Vodcast, $250 donated by UNB’s MBA Society, went to the UNB team that presented the plan for Goal Detector Limited.

The grand prize in the private sector track, $5,000 donated by CIBC, went to John Bowles, who presented his business plan for Inversa Systems Ltd.; Paul Penderson, who presented his plan for a business called ePort won the runner-up prize of $600, donated by the J. Herbert Smith Centre.

Each of the three grand prize winning teams will receive an additional $1,000 towards travel expenses if they choose to compete in a business plan competition at the national level. The funding for this also comes from CIBC’s contribution to the competition. The schools represented by the 20 teams that participated in UNB’s CIBC Business Plan Competition include St. Mary’s, Dalhousie, Memorial, Atlantic Baptist, St. Francis Xavier, University of Maine at Orono and University of New Brunswick.

The following list provides more details on the participants of the winning teams:

Graduate Track

Grand Prize and Best Elevator Pitch:
University of New Brunswick, Fredericton NB
VerifyRx. Inc.
• Edgar Gallibois
• Robert Morrow
• Karen Freeman
• Steve Knox
• Mike Oliver (Coach)

Runner-Up Prize:
Dalhousie University, Halifax, NS
TROPE
• Jeff Temporale
• Tim Schmitt
• David Roach (Coach)

Undergraduate Track

Grand Prize:
Memorial University, St. John’s, NF
The Autism Soccer Association
• Heather Leaman
• Katie Saunders
• Jennifer Button
• Wayne King (Coach)

Runner-Up Prize:
University of New Brunswick, Fredericton, NB
Endurance Sport Camps
• Bill Walker
• Jordan Lorette
• Martin Wielemaker (Coach)

Best Financials:
St. Mary’s University, Halifax, NS
PetLife Assurance Col
• Karrilyn Wilcox
• Aaron Windsor
• Daniel Curren
• Ellen Farrell (Coach)

Best Vodcast:
University of New Brunswick, Fredericton, NB
Goal Detector Limited
• David Dion
• Tyler Smith
• Andrew Robertson
• Michael Springer
• Martin Wielemaker (Coach)

Private Sector Track

Grand Prize:
Inversa Systems Ltd.
• John Bowles
• Jake Arsenault (Coach)

Runner-Up Prize:
ePort
• Paul Pederson
• Ellen Farrell (Coach)

Posted at 3:00 PM

The University of New Brunswick’s Student Investment Fund (SIF) is continuing to set records. On Oct. 25, the fund topped $2 million, doubling what it started with eight years ago.

The SIF program was launched in 1998 with a $1-million contribution from the New Brunswick Investment Management Corp. This money allows students in the program to experience real investing, in real-time, in the capital markets.

The fund’s growth is due exclusively to investment performance. No new funding has been acquired.

“The student investment success showcases the high-quality students who are accepted into this rigorous experiential learning program,” said Glenn Cleland, program founder and director of UNBF’s Centre for Financial Studies. “The students are responsible for adding value to the portfolio.”

This financial milestone is the most recent in a series of successes the prestigious program has achieved. In 2003, UNB became the first Canadian university to win an investment category and placed second overall in the Redefining Investment Strategy Education (RISE) symposium, a global competition for student-managed funds. The following year, UNBF, with a new cohort of SIF students, continued to outperform much larger schools with another first-place ranking in the hybrid investment category at RISE.

Prof. Cleland says that another performance measure of the program’s achievements is the pass rate on the industry standard Chartered Financial Analyst Level One exam.

“The SIF program separates itself from most other North American student-managed funds in that it has an embedded study program for the CFA exam,” he added.

SIF students have consistently outperformed global average pass rates on the uniform exam. They excelled at the June 2006 Level One exam recording a 78 per cent pass rate compared to a global success rate of 40 per cent.

Feiber Omana, a 2006 graduate of the business administration program, is the first SIF student and faculty of business administration alumnus to be accepted into Harvard Business School. His deferred admission to Harvard until 2008 will allow him to gain meaningful business experience as an analyst with the investment firm Peters & Co. Ltd. in Calgary, Alta.

He credits the SIF program with getting him started.

“Through my participation in the SIF, I was able to gain valuable skills, knowledge and experience that are the building blocks for a successful career in finance,” said Mr. Omana.

The SIF program’s financial learning lab, the TSX Group boardroom, is set up to replicate a small investment firm. Sophisticated, leading-edge, industry-standard equipment, such as the Bloomberg professional dual monitor terminal, allow students access to current information to make informed investment decisions. Students work individually and in groups, learning group dynamics and collaborative team-building.

For more information on the SIF program, contact Glenn Cleland at 506-458-7510 or Susan Boyce at 506-453-4895.

Posted at 3:07 PM

The Faculty of Business Administration's detailed application to enter the AACSB accreditation process was approved at the meeting of the agency's Pre-Accreditation Committee in Minneapolis on 16 September.

The Faculty accordingly has entered the first formal phase of the process, which must be completed within two years with the submission and approval of an Accreditation Plan. A mentor will be assigned, who will assist the Faculty with the accreditation process and who will provide advice about how to close gaps between the Faculty's existing operations and the conditions necessary to meet the agency's 21 standards. The Faculty will be soliciting input from relevant stakeholders as the accreditation process advances.

Founded in 1916, AACSB International is a not-for-profit organization consisting of more than 900 educational organizations and corporations. Its mission is excellence in management education in colleges and universities. Headquartered in Tampa, Florida, AACSB is the premier accreditation agency for business education and represents the top 10 percent of business schools worldwide. As of April, 2006, 527 member institutions hold AACSB business accreditation, of which 168 have additional specialized accreditation for their accounting programs. Eighty-five accredited institutions are outside of the United States.

Posted at 2:20 PM

Students of the 2006 MBA graduating class presented the MBA Society Professor Recognition Award to Professor Elin Maher, CA, of the accounting area. The award was presented on March 17 at the annual MBA dinner, held at the Beaverbrook Inn, Fredericton.

Elin Maher joined the Faculty of Business Administration in 1988. She teaches administration and managerial accounting in the BBA program and accounting for managers in the MBA program. This is not the first time she has been recognized by her students: in 1998 she received the Faculty of Business Administration Excellence in Teaching Award. In 2004 she was designated a UNB Teaching Scholar, a three year appointment. Professor Maher’s teaching and research interests are in the areas of financial, international and managerial accounting. She has co-authored texts and learning materials in accounting, as well as professional education materials. She also develops examinations of the Certified General Accountants’ Association of Canada, a process subject to intensive peer-review.

Each year students in the graduating class present the MBA Society Professor Recognition award to a professor who has contributed significantly to students’ overall learning and success. Previous recipients of this award follow:

2005 Dr. Luis Zuluaga (Quantitative Methods)
2004 Dr. Daniel Coleman (Organization Studies)
2003 Dr. Norbert Schaefer (Management)
2002 Dr. Santosh Kabadi (Quantitative Methods)
2001 Dr. Joseph Abekah (Accounting)
2000 Dr. Harvir Bansal (Marketing)
1999 Dr. Gopalan Srinivasan (Finance)

Posted at 8:25 PM

TSX Group Inc., the operator of Canada’s two national stock exchanges, made a $100,000 donation to UNB’s Forging Our Futures campaign today. The gift will support the University of New Brunswick’s award-winning Centre for Financial Studies, one of the country’s leading programs in post-secondary financial services education.
“The Centre for Financial Studies is a unique program in North America,” said John McLaughlin, UNB president and vice-chancellor. “This gift from TSX Group recognizes UNB’s leading role in financial education. I thank TSX Group for their generosity and salute the centre’s students and faculty for their efforts at making the program the best of its kind anywhere.”
The Centre for Financial Studies, housed within UNB Fredericton’s faculty of business administration, promotes excellence in financial education and addresses the employment needs of the evolving investment industry through the prestigious and award-winning Student Investment Fund (SIF) program. Unique among Canadian universities, the SIF program combines an opportunity for undergraduate and graduate students to invest real money in capital markets while they undertake a study course for the industry standard Chartered Financial Analyst (CFA) Level One exam. The TSX gift will be used to equip the SIF boardroom with sophisticated financial industry software and to continue to develop relevant leading-edge investment education programs.
“As a national institution, TSX Group supports post-secondary institutions right across Canada,” said Richard Nesbitt, CEO of TSX Group. “We look forward to working with the Centre for Financial Studies at the University of New Brunswick as part of our expanding capital markets donations program. We have been impressed with their growing reputation as a highly ranked business school and their innovative Student Investment Fund that prepares students for careers in an expanding financial services industry.”
Since inception of the SIF program in 1998, student fund managers have doubled the initial pension fund assets of $1 million to almost $2 million. The Student Investment Fund program was allocated $1 million of real pension assets by the New Brunswick Investment Management Corporation to invest in capital markets.
Graduates of the prestigious program are well placed in investment firms throughout the world. More than 60 SIF graduates have written the CFA Level One exam, continuing to outperform their peers.
“I am excited about the financial support and this expanding partnership between the Centre for Financial Studies and the TSX Group,” said Glenn Cleland, director of the Centre for Financial Studies. “To be partnered with Canada’s premier stock exchange operator is an affirmation of the centre’s success and its potential.”
TSX Group operates Canada’s two national stock exchanges: the Toronto Stock Exchange, serving the senior equity market; and the TSX Venture Exchange, serving the public venture equity market, as well as Natural Gas Exchange (NGX), a leading North American exchange for the trading and clearing of natural gas and electricity contracts. TSX are the initials attached to the core equity operations of TSX Group (www.tsx.com): Toronto Stock Exchange, TSX Venture Exchange, TSX Markets, TSX Datalinx, TSX Technologies. TSX Group is headquartered in Toronto and maintains offices in Montreal, Winnipeg, Calgary and Vancouver.

Posted at 3:11 PM

BMO Financial Group is donating $750,000 to UNB’s International Business and Entrepreneurship Centre (IBEC) in the Faculty of Business Administration. A major contribution to the University’s Forging Our Futures Campaign, the gift will provide UNB business students with real-world experience while, at the same time, giving small businesses access to planning and export expertise.

“The University of New Brunswick’s relationship with BMO dates back more than a century. We’re pleased to have them as a leading partner for this one-of-a-kind program which benefits both students and entrepreneurs in Atlantic Canada,” said John McLaughlin, UNB President and Vice-Chancellor.

The $750,000 gift will support IBEC’s two main programs. The Export Partnering Program (EPP) assists companies in developing export plans for foreign markets, and is delivered in partnership with UNB Saint John’s Faculty of Business and Atlantic Baptist University in Moncton. The MBA Student Consulting Group (SCG) provides consulting services to private sector companies in New Brunswick, offering advice in marketing, accounting, human resources management, finance, and strategic planning.

“At BMO Bank of Montreal, we are committed to small business and are proud of our performance in helping small businesses grow. Our partnership with IBEC is further proof of that commitment, as we want to help the Centre develop and support entrepreneurial leadership and international competitiveness among the university community and growth oriented small businesses in New Brunswick,” said Rob Pearce, President and CEO, Personal and Commercial Client Group, BMO Bank of Montreal.

Mr. Pearce also noted that New Brunswick is Canada’s most export-oriented economy, pointing to the success of local entrepreneurs and the quality and competitiveness of their products.

The Export Partnering Program is unique to Atlantic Canada. To date, 69 companies and 390 UNB students have participated in the EPP program, while the SCG program partners with three-to-five small businesses per year. A number of business graduates have been hired to implement the recommendations developed in their projects.

The Bank of Montreal has been UNB's banker for more than 100 years. This strong partnership was further strengthened in 1997 when BMO Bank of Montreal became a founding partner of the Centre for Entrepreneurial Leadership, a forerunner of IBEC.

Since 1817, BMO Financial Group has supported the principles of community reinvestment and corporate and social responsibility to the communities it serves. BMO Financial Group contributed more than $29 million in corporate donations, sponsorships and events in 2004, supporting thousands of communities, charities and not-for-profit organizations in Canada.

Forging Our Futures is the most important development campaign in UNB’s more-than-200-year history. It will make strategic investments in students, faculty, facilities and programs. The campaign will strengthen UNB’s position as a national university that is fundamentally important to the economic, social and cultural well-being of the province, the region and the country. Officially launched in June, Forging Our Futures is the largest fundraising campaign in New Brunswick history. More information on the campaign can be found online at www.unbfutures.ca.

Posted at 11:38 AM