Viewpoints, Fall 2012 - Sauder School of Business by UBC Sauder School of Business

FALL/WINTER 2012 • VOLUME 32 • NO 3

Our goal is for Sauder to be one of the world’s finest public business schools, building on our long tradition of excellence in teaching, research, and community building. – Robert Helsley

Our new dean Prof. Robert Helsley returns to lead the Sauder School of Business

A magazine for alumni and friends of the Sauder School of Business at UBC

Tack

Gracias Thank you Hvala Merci Danke

With Our Thanks! This past year, almost 600 members of our alumni community gave their time and talent to benefit the Sauder School of Business. Thank you to everyone who served as mentors, guest speakers, recruiters of Sauder students and graduates, reunion coordinators, partners in various projects and programs, and much more. Your interest and involvement is critical to our continued success. Stay tuned to www.sauder.ubc.ca/alumni for details about the Sauder Alumni Volunteer Program launching this Fall.

ALUMNI STORIES

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Connie Fair, MBA 1988 Warren Spitz, BCom 1981

The Leadership Issue Are leaders visionaries, superheroes or psychopaths? Or all three? We often look back and say of people, “They were leaders.” But how do we define leadership as it happens? And how can we aspire to be a leader? Or can we?

IN EVERY ISSUE

Viewpoints

Sauder Index

Newsworthy

Actuals

Insider Information

Class Notes

Reunions

Points of View

Alumni in Focus

16 Leadership: Are you doing things right? Or doing the right things? Leadership is devilishly hard to define. We asked 13 Sauder alumni for their takes on what makes a leader. And two Sauder professors go head-to-head answering “What kind of leaders do companies want, and what kinds do they get?” Cover photo by Mark Mushet. Mushet

Meet the new dean

Apathy is not an option

alumni@sauder.ubc.ca UBC Commerce/Sauder School of Business Alumni Twitter.com/ViewpointsMag twitter.com/ubcsauderschool linkedin.com/company/sauderschool-of-business-at-ubc

“The important events in my life… were completely transformed by educational experiences,” says Robert Helsley, the new leader of the Sauder School of Business.

Earning Interest RIP Stephen Covey, leadership guru. Powerful female leaders. Notable business blogs. Biz books hot off the presses. Pinterest have your interest?

Community engagement has been one of the cornerstones of Phillips, Hager & North Investment Management since its inception.

VIEWPOINTS FALL/WINTER 2012

VIEWPOINTS FROM THE DEAN

OUR MISSION FOR VIEWPOINTS Viewpoints Magazine is designed to nurture dialogue and relationships with our alumni and friends by ensuring that you continue to enjoy the practical benefits of the school’s leading-edge business thinking. Viewpoints presents news, research and commentary that demonstrate the ability of our faculty and our graduates to define the future of business and to open doors for those who are connected to the Sauder School of Business. Your thoughts about this mission are always welcome.

Educating leadership IT IS A PLEASURE FOR ME TO WELCOME YOU TO

EDITORIAL Dale Griffin EXECUTIVE EDITOR Cristina Calboreanu EDITOR-IN-CHIEF Jennifer Wah MANAGING EDITOR

DESIGN Brandon Brind CREATIVE DIRECTOR Deana De Ciccio, Karen Cowl, Olga Kondratowicz GRAPHIC DESIGNERS

PRODUCTION Spencer MacGillivray PRODUCTION MANAGER

MARK MUSHET

this issue of Viewpoints—my first as dean of the Sauder School of Business. Since returning to Sauder and UBC from UC Berkeley this past summer, I have been inspired by the talent and energy of our students, the quality and dedication of our faculty and staff, and the commitment and generosity of our alumni. Sauder has evolved to be a true hub of business education and innovation, and has an international reputation of which we can all be proud. The dramatic growth that Sauder has enjoyed over the last decade under Dan Muzyka’s leadership is due in large measure to your willingness to engage with the school and help us create a vibrant network of students, alumni and supporters. In this issue, we examine the characteristics of successful leaders and celebrate the many outstanding achievements of our Sauder alumni as leaders in their businesses and communities. One of the strong themes to emerge from this examination is the great diversity of leadership success present in our community. From John Montalbano’s remarkable generosity and dedication to community, to Connie Fair’s guidance and clear-sighted perspective, to Warren Spitz’ far-reaching vision and initiative, it is clear that every leader brings something unique to the success of an organization.

I was very fortunate to have the opportunity to welcome the former Secretary-General of the United Nations, Kofi Annan, to the Sauder School in September. Mr. Annan spoke with our students about his experiences in the U.N. and the many challenges that he faced as one of the most distinguished international diplomats of the past century. Having an opportunity to learn from the personal experiences of someone who has practiced leadership on a global scale was a very powerful experience, both for me and for our students. In this spirit, I would like to share one of my favorite quotes from Mr. Annan: “Knowledge is power. Information is li liberating. Education is the premise of progress, in every society, in every family.” I look forward to working with all of you to e ensure that the Sauder School continues to serve a a “premise of progress” for our students, our as a alumni and our community. ■

Sincerely,

Robert Helsley, Dean

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Viewpoints Magazine is produced by Forwords Communication Inc. and published by the Sauder School of Business, University of British Columbia 2053 Main Mall, Vancouver, BC V6T 1Z2 Tel: 604-822-8555, Fax: 604-822-0592. Viewpoints is published regularly for alumni and friends of the Sauder School of Business. We welcome the submission of ideas and articles for possible publication in Viewpoints Magazine. Email: viewpoints@sauder.ubc.ca For an online version of Viewpoints, visit www.sauder.ubc.ca.

CHANGE OF ADDRESS Send change of address to Alumni Relations Office, fax: 604-822-0592 or email to alumni@sauder.ubc.ca ©Copyright 2012, Sauder School of Business. Editorial material contained in Viewpoints Magazine may be freely reproduced provided credit is given. ISSN 089-2388. Canada Post. Printed in Canada.

EDITORIAL BOARD Dale Griffin (Chair), Sheila Biggers, Bruce Wiesner

CONTRIBUTORS Cristina Calboreanu, Lorraine Chan, Allan Jenkins, Spencer MacGillivray, Erica Smishek, Jennifer Wah, Leanna Yip, Kate Zimmerman PUBLICATIONS MAIL AGREEMENT NO. 40063721 RETURN UNDELIVERABLE CANADIAN ADDRESSES TO ALUMNI RELATIONS, SAUDER SCHOOL OF BUSINESS, UNIVERSITY OF BRITISH COLUMBIA, 800 ROBSON STREET, VANCOUVER, BC V6Z 3B7 This issue of Viewpoints was printed in Canada using vegetable-based inks. The paper is also certified by the Forest Stewardship Council® (FSC®). The use of their logo assures the end user that the forest-to-consumer process is responsible, and that the product comes from a forest-friendly source.

The Sauder Index BY

JENNIFER WAH

Best-attended film festival in the world: Toronto International Film Festival (TIFF) Chair of first-ever TIFF gala in 2012: Warren Spitz, BCom 1981, CEO, Upper Canada Forest Products Projected growth of global movie and entertainment industry in the next five years: 4.2% Projected annual growth in Canadian forest industry through 2015: 0.1% Canadian industry with highest projected growth through 2015: Computers and electronics (6.7%) Increase in price of Walt Disney Company (NYSE:DIS) shares since November 2011: +44%

Twitter, by the numbers: Most influential (retweeted) tweets related to small business in 2011: @mashable, @chrisbrogan Of the top 10 most followed accounts on Twitter, the only one not in entertainment: Barack Obama Number of those following @ladygaga, the most followed account on Twitter: 31,783,001

Number of Google hits on the word “leadership”: 499,000,000 Title of Amazon.com’s top-selling book on leadership: First, Break All the Rules by Marcus Buckingham Title of Amazon.ca’s top-selling book on leadership: Outliers, by Malcolm Gladwell

Highest-read business blog: businessinsider.com Rank of leadership as the quality most desired in business school deans, from a recent report by the Korn Ferry Institute: 1 Average November low temperature in Berkeley, California, where Dean Robert Helsley worked at Haas School of Business for four years before being appointed dean of the Sauder School of Business: 9°C Average November high temperature in Vancouver: 9°C

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NEWSWORTHY SAUDER IN THE NEWS

Vancouver IT company opts to reverse start-up trend in the province In its coverage of the Vancouver-based Hootsuite, which provides software for managing social media networks, Canadian Business estimated that the company will double in size in 2012 and may be approaching a value of $500 million. Professor Thomas Hellmann has authored several studies on startup companies, which showed that those in British Columbia and Alberta sold earlier on average compared to those in other Canadian provinces and in the US. It is very Canadian to sell early at a small evaluation, concluded Professor Hellmann, instead of going for the high-risk, big-value strategy. Hootsuite is set on changing that pattern by turning into a billion-dollar company, which could affect Vancouver’s entire IT landscape. ■

Professor argues that reverse mentorship requires strategy For a story about young workers teaching senior employees in “reverse mentorship” at the workplace, The Globe and Mail turned to Professor Danielle van Jaarsveld for her expertise on workplace issues. Professor van Jaarsveld concludes that the actual matching of junior employees with senior employees needs some strategic thinking. With the potential for a personality mismatch, Professor van Jaarsveld suggests that companies ensure that a third party coordinates the mentoring process, with whom both parties can communicate. ■

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Professor studies the corrosive consequences of workplace bullying New research by Professor Sandra Robinson showing that workers who witness bullying can have an even stronger urge to quit than those who experience it firsthand gained media coverage in The Wall Street Journal, Forbes,The Daily Telegraph, Harvard Business Review,Time Magazine,The Toronto Star and The Huffington Post. “Managers need to be aware that the behavior is pervasive and it can have a mushrooming effect that extends well beyond the victims,” says Professor Robinson, a member of the Organizational Behaviour and Human Resources Division. “Ultimately bullies can hurt the bottom line and need to be dealt with quickly and publicly so that justice is restored to the workplace.” ■

The best way forward for housing affordability In an editorial published in the Vancouver Sun on June 28, Assistant Professor Thomas Davidoff and Associate Professor Tsur Somerville commented on a recent report produced by the Mayor’s Task Force on Housing Affordability for the City of Vancouver. While they found some proposals to be positive, they identified the central recommendation of turning over city land to developers for the construction of rental-only buildings to be flawed and problematic. Professors Somerville and Davidoff argue that real progress on affordability requires a willingness from city residents to accept changes in the land use of the single-family neighbourhoods prevalent in Vancouver. The article shared the editorial page with an op-ed from Mayor Gregor Robertson on the same topic. ■

New research shows worrying about office politics may make you a target A new study on office politics, lead by Professor Karl Aquino, made headlines in Time Magazine, The Atlantic,The Guardian,The Daily Telegraph, Shanghai Daily,The Times of India and numerous other national and international media publications. The research suggests that workers who worry about being the subject of office gossip often invite negative behavior upon themselves. Researchers also found that office workers who are quick to interpret the actions of others as negative are also more likely to try to root it out through such means as eavesdropping or spying. “It may be best to ignore impulses that tell you that you’re the victim of office politics,” says Professor Aquino, whose study appeared in Organizational Behavior and Human Decision Processes. ■

Financial Times ranks Sauder Executive Education among the best in the world

Sauder’s work in Africa highlighted in The Globe and Mail In a case study written for The Globe and Mail on July 13, accounting lecturer Jeff Kroeker shows how Sauder’s ARC Initiative is helping local businesses in Africa realize sustainable growth. Kroeker recounts how a small business owner in Addis Ababa, Ethiopia was struggling to keep up with demand at her craft boutique. After participating in a business skills training program organized by ARC and working with a Sauder BCom intern, she has successfully expanded her boutique, increasing jobs available to marginalized women throughout the region. Founded in 2010 by Kroeker and Thato Makgolane, BCom 2011, the ARC Initiative serves to build a bridge of knowledge sharing between Sauder students and entrepreneurs in developing countries. ■

Businesses in Chapter 11 do better with hedge fund help Numerous media outlets including the Financial Times, Reuters,The Globe and Mail, Financial Post and Vancouver Sun covered a new study, co-authored by Finance Professor Kai Li, which reveals that—contrary to popular opinion—hedge funds have a positive influence when investing in U.S. companies filing for Chapter 11 bankruptcy. The study shows that when a hedge fund invests in a distressed company, other creditors in the transaction fare better and there is a greater chance a company will emerge from bankruptcy. “Our data shows hedge funds strategically invest in troubled companies with the intention of becoming major shareholders after they emerge from bankruptcy. They are motivated to strengthen firms, not tear them apart,” says Professor Li. The paper was published in the April edition of the Journal of Finance. ■

Sauder’s Executive Education ranks among the world’s best for open enrolment programs in the Financial Times Executive Education – Open – 2012 ranking, published in the May 14 edition of the leading business newspaper. Sauder is one of only five Canadian business schools included in the ranking, and the only school west of Ontario to rate among the world’s top providers of executive education. In large part, the ranking is determined by feedback from program participants surveyed by the publication across a range of performance indicators, from course preparation to the likelihood of repeat business. Together their answers accounted for 80 per cent of Sauder’s overall ranking. One of the two new schools added to the annual ranking this year, Sauder debuted at 61, ahead of the other addition, the National University of Singapore Business School, which entered at 64. ■ To learn more about Sauder in the news, visit www.sauder.ubc.ca

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ACTUALS SEEN AND HEARD IN THE SAUDER WORLD

Sauder finance conference draws global scholars Sauder’s Finance Division hosted its tenth annual UBC Summer Finance Conference between August 3 and August 5, 2012. Assistant Professor Jason Chen and Professor Ron Giammarino chaired the event, which brought together more than 70 finance academics from North America and around the world. The conference is sponsored and supported by Sauder’s Phillips, Hager & North Centre for Financial Research, and the Bureau of Asset Management. This year’s speakers included researchers from the University of Chicago, Duke University, Carnegie Mellon University, Imperial College London, and the Massachusetts Institute of Technology. “The Phillips, Hager & North Centre for Financial Research’s summer conference has become one of the top gatherings for finance researchers from around the world,” said Professor Giammarino. “In addition, the conference raises the profile of UBC faculty and doctoral students and is the most important activity of the Centre.” ■

Economist editor-in-chief at Sauder to talk future of business John Micklethwait, editor-in-chief of The Economist, one of the world’s leading business and current affairs publications, recently visited Sauder to speak on the state of international business as a part of the Canaccord Learning Commons lecture series. An award-winning journalist, prolific author and broadcaster, Micklethwait draws on his background in history and banking to offer a unique perspective on today’s complex economy. Regarding the importance of innovation in the global marketplace, he said, “I think innovation in business has seldom been taken quite as seriously as it is now. You look at companies that are worth a great amount—like Apple—it’s all about ideas. At the moment, particularly in the western world, the companies who are doing well are the ones who continually produce clever ideas.” ■

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Sauder alumnus rings NYSE opening bell On August 20, 33-year-old Sauder alumnus Nolan Watson, President and CEO of Vancouver-based Sandstorm Gold, rang the NYSE opening bell as the company listed its shares on the New York Stock Exchange. Metal streaming company Sandstorm Gold is generating considerable interest from US investors. “They’re looking to make money on gold and the streaming model is the perfect way to do it in a sense that we don’t take a lot of the operating risks that mining companies do,” Watson said in an interview with “Business News Network.” Watson graduated from Sauder with a BCom in 2001 and co-founded his gold streaming company in 2009. Last year, The Globe and Mail featured Watson as one of Canada’s Top 40 Under 40 for his business and humanitarian accomplishments. Known as “the mining CEO with a humanitarian heart,” his charity, Nations Cry, works to train teachers and build schools in Central America and West Africa. He was profiled in the Winter 2012 issue of Viewpoints. ■

Associate dean discusses globalization of MBA at international conference MBA students exposed to global social, political, and economic issues will be fully equipped to engage on an international level, said Murali Chandrashekaran, Associate Dean of Sauder’s Robert H. Lee Graduate School at the Third Annual Indian Management Conclave in August. The conference, held in New Delhi, attracted close to 300 academics, policy makers and recruiters to discuss the future of Indian business schools. Associate Dean Chandrashekaran was invited to give a key session on the globalization of MBA education. “In the context of educational institutions, globalization means a process of changing the engagement footprint beyond borders,” he said. Immersive global exchange experiences are part of the core curriculum of the revamped UBC MBA program launched by Sauder’s Robert H. Lee Graduate School in September. ■

VARUN SARAN

Portfolio Management Foundation 25th Anniversary Silver Swan Gala

On June 28, Leslie Wong Fellows and other members of the Sauder School of Business community came together at the Vancouver Convention Centre West to celebrate the 25th anniversary of the Portfolio Management Foundation (PMF). The event brought together over 150 alumni, counselors, mentors, advisors and friends who have made the program possible over the last 25 years.

Started in 1987, the PMF program is a two-year extracurricular program that gives BCom students real-world experience investing in the capital markets. Started in 1987, the PMF program is a two-year extracurricular program that gives BCom students real-world experience investing in the capital markets. Beginning at the end of their second year of university, the program consists of two summers of internships, one academic year

as a Research Associate and one academic year as a Fund Manager. The students’ task is to add value to a real portfolio of stocks and bonds, currently valued at about $4.5 million. The program allows qualified finance students aiming for a career in capital markets, guided by PMF mentors, to

manage the PMF endowment fund, investing in money markets, fixed income investments of Canadian and foreign issuers, and equity investments. Alumni from the prestigious PMF program, known as Leslie Wong Fellows, are employed in the capital markets in New York, San Francisco, London, Hong Kong, Singapore, Vancouver, Toronto, Montreal, Calgary and in many other locations. ■

COE research featured at major conference Research from Sauder’s Centre for Operations Excellence (COE) and the Operations and Logistics Division (OPLOG), which hosts the COE, was recently featured at the Industrial Engineering Students Conference (Congreso Nacional de Estudiantes de Ingeniería Industrial), a prominent national conference that took place in Piura, Perú from July 31 to August 4, 2012.

One of the plenary speakers was Assistant Professor and COE Faculty Advisor, Steven Shechter, who discussed several healthcarerelated projects conducted by students of the Master of Management in Operations Research program (MMOR) and OPLOG PhD students. Prof. Shechter highlighted two studies in particular, one on testing facilities for tuberculosis in BC

and one on screening patients waiting for a kidney transplant. “Industrial engineering is often applied to other areas. There was a lot of interest in how it can be applied to healthcare management,” said Prof. Shechter. Sauder MMOR alumna Valerie Quevedo was among the organizers of the conference, which attracted more than 2,000 participants from Peru, Ecuador and Chile. ■

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ACTUALS SEEN AND HEARD IN THE SAUDER WORLD

Ch’nook Scholars share business skills with entrepreneurs in Ethiopia “Sharing our business skills with entrepreneurs in Ethiopia was a life-changing experience,” says Alea Smaniotto of her chance to travel to Africa this summer. A past participant of Sauder’s Ch’nook Scholars program, which increases Aboriginal engagement in business education, Alea Smaniotto was one of six Ch’nook Scholars from across British Columbia selected to join an ARC Initiative team in Ethiopia. ARC pairs Sauder talent with African entrepreneurs to help fuel improvements to their businesses. The Ch’nook team and ARC delivered a week-long business skills conference to local entrepreneurs in the capital, Addis Ababa. For the Ch’nook Scholars, it was also a unique opportunity to exchange indigenous cultural knowledge. “We were able to learn about Ethiopian life and business while the entrepreneurs were able to learn about business in the Western world. It was quite special to share our Aboriginal history and challenges with them too,” says Smaniotto, who is of Metis descent. Rick Colbourne, Executive Director of Ch’nook, says the learning and knowledge exchange offered through this program is taking more of an international focus, with treks to London also becoming an important part of what Ch’nook provides. The aim is to help Aboriginal people gain confidence to work in an environment where global organizations are approaching First Nations communities directly to engage in business. “In Ethiopia, our Ch’nook scholars gained insights into another indigenous culture, including their Amharic language,” recalls Colbourne. “Partnering with ARC helped Ch’nook build on its strengths, facilitate crosscultural understanding, and also be innovative around Aboriginal business engagement.” During her time in Addis Ababa, Smaniotto and her colleagues helped the ARC staff plan and facilitate sessions on finance, marketing, leadership and entrepreneurship. She soon recognised that in previous business training,

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Ethiopians had received more of a textbook approach. “They had learned the definition of a balance sheet or income statement, but never actually created one at school or applied a case study.” Ethiopian entrepreneurs that included a clothing designer, coffee farmer, taxi operator, hospital manager and paper recycler, working with Ch’nook and other Arc facilitators, gained business skills in marketing, strategy and financial management that they could apply to any venture, says the Director of ARC and accounting lecturer at Sauder, Jeff Kroeker. “Everyone had a ton of fun along the way,” says Smaniotto. “We held case study challenges and gave people tips on how to approach and solve them. The teachers did a little skit where they put all these cardboard tools into a huge paper box to represent the basic business toolkit that everyone would take away from the conference.” Following the conference in Addis Ababa, Smaniotto and her Ch’nook team travelled to the northern highlands of Ethiopia, visiting 900-year-old churches in Lalibela and crusader castles in Gondar. “We hosted educational activity days, showing indigenous communities

how First Nations in Canada use art to express their spirituality and customs, for example,” she explains. “They had no idea about us, having only previously heard of Aboriginals in Australia, so it opened their eyes.” A common theme that united both the Ch’nook team and the entrepreneurs they met in Ethiopia was an overriding interest in responsible business. “The Ethiopian entrepreneurs didn’t want to start businesses to get rich, but instead to create jobs and make their country a better economic environment to invest in,” Smaniotto says. “Similarly as Aboriginal people, our Ch’nook team pursued business degrees to become leaders so we can make an impact on our First Nations communities.” In the future, Smaniotto would like to use her Ch’nook alumni connections and experience with ARC to help First Nations communities across Canada. Colbourne summarizes, “Both Ch’nook and ARC are built on knowledge exchange, and act as a bridge between communities. We would welcome ARC’s support in increasing Aboriginal engagement in business education.” ■

A journey of success On June 14, 2012, the Sauder School of Business

of the business, government and academic

joined with its community to celebrate over a

communities from British Columbia and

decade of growth and achievements under the

beyond to celebrate the Sauder’s shared success.

leadership of outgoing dean Daniel F. Muzyka.

The gala event was chaired by Randy Powell,

The event, Le Grand Voyage Celebratory

President and CEO, Armstrong Group Ltd., who

Gala, held at the Fairmont Hotel Vancouver, paid

led the Celebration of Entrepreneurship and

tribute to the accomplishments of the School

Gala Committee. Master of Ceremonies, Chris Gailus, Global TV News

and of Daniel Muzyka over the last twelve years and celebrated the achievements of Sauder’s community of alumni, friends and partners. After more than a decade of revitalization of programs, teaching, research and infrastructure, the School has emerged

Le Grand Voyage Celebratory Gala brought together more than 700 prominent members of the business, government, and academic communities from British Columbia and beyond to celebrate the School’s shared success.

ready to build an even more dynamic international reputation. Le Grand Voyage Celebratory Gala brought

Anchor, welcomed guests and led the evening’s festivities. Speakers included former dean Daniel F. Muzyka; Sauder Faculty Advisory Board Chair Paul Hollands, President and CEO, A&W Food Services of Canada Inc.; Dr. Robert H. Lee, C.M., O.B.C., Chairman, Prospero Group of Companies; and Gala

Chair and Sauder Faculty Advisory Board Member Randy Powell. ■

together more than 700 prominent members

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Building strengths from

New dean champions exploration and collaboration â&#x20AC;&#x153;Innovations that find their origins at the School are the result of individual efforts. Our role is to provide an environment of exploration and collaboration that gives the brilliant people at Sauder, and our extended community, the guidance, support and resources needed for success today and throughout their lives.â&#x20AC;? - Robert Helsley

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MARK MUSHET

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MARK MUSHET

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Introducing Dean Robert Helsley Robert W. Helsley was named dean of the Sauder School of Business at the University of British Columbia on July 1, 2012. Professor Helsley served as Senior Associate Dean, Faculty and Research at Sauder from 2002 to 2008, and, previously, as Director of Research, Director of the UBC Centre for Real Estate and Urban Economics, and Chair of the Urban Land Economics Division. Prior to his appointment as dean, he was a professor in the Haas School of Business at UC Berkeley, where he held the chair in Real Estate

IT IS A PLEASURE FOR ME TO HAVE THIS OPPORTUNITY TO INTRODUCE

Development, and served as co-chair of the Fisher

myself as the new dean of the Sauder School of Business. I have great admiration for Sauder and UBC, and it is truly an honour for me to have the opportunity to serve the school and the university in this role. In this article I will share some of my background with you, discuss my motivations for returning to Sauder as dean, and offer my early observations about goals and aspirations for the School. Let me begin with a bit of background. My father was a manager for Lever Brothers, and my family moved all across the United States as his career progressed—Tennessee, Florida, New Jersey, Michigan, and finally Oregon, where I attended the University of Oregon as an undergraduate. There I had the good fortune of studying with Ed Whitelaw, an MITeducated economist and a gifted teacher. Whitelaw’s intelligence, curiosity and high standards had a strong impact on all of his students, including me. With his encouragement and support, I was able to pursue a PhD program in economics at Princeton University, where I had the opportunity to study with Ed Mills, one of the creators of the field of urban economics. In retrospect, it is clear that my life was completely transformed by my educational experiences. The ability of education to serve as a positive and transformational force for individuals and communities is a theme that resonates deeply with me, and is one that I draw on regularly in my role as dean. I joined what was then the Faculty of Commerce and Business Administration at UBC as an Assistant Professor of Urban Land Economics in 1984—a 28-year-old newly minted PhD. My colleagues used to observe that I was the youngest member of the faculty at that time, and I was regularly mistaken for a student during my first few years as a faculty member. Sadly, this confusion seems to have resolved itself over time. Sauder is a very unique place, and this was evident from my earliest days as a faculty member. The School provided a supportive and collaborative environment in which I could flourish as a teacher and a scholar. This very positive culture—focused on excellence in teaching and research—remains a salient feature of the School and one that I am deeply committed to strengthening as dean.

Center for Real Estate and Urban Economics. “If I look back on many of the most important events in my life, it is apparent that they were completely transformed by educational experiences,” Helsley observes. After meeting some of the more than 1,000 new students arriving at Sauder’s Vancouver campus this fall, he reflects on both student and alumni life: “The thing I always tell students is to stay open,” says Helsley. “Then, and now as alumni, your experience at Sauder was not a short-term experience, it’s a lifelong enterprise.”

Music has always been an important part of Dean Helsley’s life. He also enjoys golf and the company of the family cat, Simba.

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DURING MY TIME AT UBC, I HELD SEVERAL ENDOWED CHAIRS, SERVED AS

Chair of the Urban Land Economics Division, Director of the UBC Centre for Real Estate and Urban Economics, Director of Research for the school, and Senior Associate Dean for Faculty and Research, where I worked closely with our past dean, Daniel Muzyka. As a faculty member at UC Berkeley from 2008 to 2012, I held the chair in Real Estate Development in the Haas School of Business and served as a chair of the Fisher Center for Real Estate and Urban Economics. I know universities well, and I am quite familiar with the unique strengths of Sauder and UBC. I love working in an academic environment, and have always enjoyed both teaching and research. Most of my teaching responsibilities have been in the area of real estate economics. These courses examine the operation of residential, commercial and industrial property markets, and study how government policies—for example, the provision of public services, property taxes, transportation investment and land use regulations— impact land and housing prices and urban development patterns. In recent years, we would also examine the causes and consequences of the subprime crisis, and consider its implications for the future of real estate markets. One of my goals as a teacher has been to show students how economics can be an important and practical guide to decision making in real-world settings. Having the opportunity to work with bright and energetic students at Sauder and Haas has been a gift. My research is in the fields of urban economics and public finance. In particular, I have written extensively on the economic forces that cause cities and business clusters to form. Much of this work examines

how interactions between businesses—for example sharing technical knowledge or specialized human capital—can lead to economic growth. In this sense, much of my work can be thought of as studies of the economic foundations of the knowledge economy and innovation—the forces that contribute to the formation of high-tech clusters such as the Silicon Valley. However, like most academics, I have a wandering eye for research topics, and have written on subjects as diverse as real options, campaign finance, privatization and social networks.

I truly believe that Sauder has the potential to become one of the world’s finest public business schools, and I have dedicated myself to this overarching goal. I have spent much of my first few months as dean meeting with alumni and other supporters in the business community. Learning firsthand about the strong support that the School enjoys in the community has been very gratifying. Two questions that commonly arise are “Why did you return to Sauder as dean?” and “What are your goals for the school?” Let me address these in turn. Being asked to consider returning as dean was, of course, an honour. Although being a dean had never really been at the top of my bucket list, once I started to entertain the possibility, the prospect quickly took on a life of its own.There were a number of factors involved, some personal, some professional. First, I have a great deal of relevant experience, and I know Sauder and UBC well. I believe I have good academic values, and I have a strong commitment to excellence. I would not have taken the deanship if I did not think I had the experience, knowledge and values to be successful. Second, I have a strong belief in the importance of education, based in part on the personal experiences outlined above. Third, I have a desire to contribute to something that is larger than myself. Upon reflection, I found that I was ready to step beyond the role of teacher and researcher and try to make a broader contribution. Fourth, and perhaps most important, I have

Dean Helsley enjoys travel (shown here in Amsterdam and Paris), especially in the company of wife, Beth. Son Ben and daughter-in-law Sandra Yuen Helsley graduated from UBC in 2008. Ben is now a software engineer in the Silicon Valley, and Sandra is a graduate student at Berkeley.

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tremendous regard for UBC and the Sauder School of Business. I truly believe that Sauder has the potential to become one of the world’s finest public business schools, and I have dedicated myself to this overarching goal. Regarding specific goals and aspirations for the School, these are a bit more difficult to articulate. It is important to recognize that these cannot come just from a dean—they must come from the community, broadly defined. To this point, my main objective has been to listen—to students, alumni, faculty and staff–and try to construct a broad and accurate view of the School’s current position and its future potential. That said, it is obvious that the School possesses a number of important strengths: •

It has a large and distinguished undergraduate program, with outstanding students and a growing international presence.

•

It has, through the Robert H. Lee Graduate School, a platform for developing innovative new master’s programs that can enhance the School’s reputation.

•

It has the largest and most successful PhD program in business in Canada.

•

It has a strong internal culture that is founded on a shared commitment to excellence in teaching and research.

•

It has world-class faculty in virtually all major areas of business.

•

It has a wonderful new facility that has enhanced the student experience and the public profile of the school.

•

It has strong links to alumni, and other community leaders, across Canada and in key business centers across the globe.

•

It has a significant global presence, with 70 exchange partnerships in more than 25 countries, and significant and historic ties to China.

•

It has a well-articulated mission, namely “to become Canada’s most influential, globally recognized business school through the impact of our research and our graduates.” The School’s strategic plan includes a number of very specific goals that are consonant with this mission.

At this stage, all I can offer are a few early observations, or points of emphasis. First, the School will need to carefully focus its efforts and resources to advance its strategic objectives. My strong belief is that Sauder should build from strengths, particularly our culture of excellence in teaching and research, the quality of our students and programs, and our growing international presence. Second, Sauder should be globally recognized for excellence in scholarship in several key areas of business. For example, Sauder could aspire to develop global centers of excellence in finance and the behavioral sciences, areas where the School already has substantial global presence. As noted above, the School has strengths in many areas, and the research that is done in Sauder has international impact in virtually all of them. Excellence in scholarship is the foundation of all that we do. Third, I believe Sauder should develop a suite of professional master’s programs that can serve the changing needs of business and students and advance the profile of the school. Our new MBA program is an important contributor on this objective, as is the recently developed one-year Master of Management program. Sauder could develop specialized offerings at the master’s level that build on our strengths in research in particular areas. Fourth, Sauder is a truly global institution, and our international activities are very likely to grow in importance in the years ahead. I believe one could make a strong case that Sauder is one of the most global business schools in North America. I see this as key strength of the School, and one that I intend to support going forward. Finally, Sauder should be a pioneer in creating a truly outstanding experience for students at all levels. This begins with innovative programs and excellent teaching, and extends through student activities, mentorship, placement and alumni engagement. You, our alumni, are integral to the future of Sauder. Your willingness to engage with the School and help us create a vital alumni network is critical to everything that we can do as a community. I invite you to join me in working to ensure that the Sauder School of Business becomes one of the world’s finest public business schools. I am excited about the future and I look forward to the challenges that lie ahead. ■

Dean Helsley shares his passion for music with son Chris, an audio designer in Vancouver. Wife Beth, who maintained a private counseling practice in Vancouver for many years, also has a degree in music, and has performed with choral groups in Vancouver and San Francisco.

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you doing things right, or doing the right things?

Are

Peter Drucker famously stated that â&#x20AC;&#x153;management is doing things right; leadership is doing the right things,â&#x20AC;? and the fact that a Google search on the word leadership yields almost half a million results tells us that the primal discussion on this topic continues. Sauder alumni epitomize leadership in all facets of their lives, businesses and communities, all over the world. For just a few examples, Viewpoints tapped several alumni for insight and

FALL/WINTER 2012 VIEWPOINTS

inspiration, as well as two Sauder professors for commentary. Dan Skarlicki says we need leaders who show empathy and understanding; warmth and the ability to listen. Karl Aquino agrees, but points out, in his counterpoint column, that, in fact, society and organizations reward personality traits that are quite the opposite: the corporate psychopath, so to speak. Which kind of leader are you? And what are you doing right? >>

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At Phillips, Hager & North Investment Management,

apathy is not an option BY

Proud Sauder alumni (left to right) Scott Lamont, Stewart Marshall, John Montalbano and Alison Parry know their community support moves everyone forward. They are photographed outside the Vancouver headquarters of Phillips, Hager & North Investment Management.

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KATE ZIMMERMAN

Community engagement has been one of the cornerstones of Phillips, Hager & North Investment Management since its inception in 1964, says John Montalbano, BCom 1988. While its first responsibility has always been to its clients, says the former Leslie Wong Fellow, its second has been to the community. >>

KENT KALLBERG

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FEAT UR E O N L E AD E RSH I P MONTALBANO CREDITS THE COMPANY’S FOUNDERS FOR ITS PUSH TO BE A

leader in the investment management industry and also in the numerous communities it serves. “Ultimately, it’s how you wish to define yourself as an organization,” he says. “It makes you feel good about not only what you’re doing, but who you’re doing it with.” “The money management business is quite focused in one area in that we’re trying to achieve returns for clients,” says Alison Parry, BCom 1987, Vice President and Investment Counsellor for private clients at PH&N Investment Counsel. “We realize that there are a lot of people who are less fortunate and wouldn’t be clients of ours, but that doesn’t mean that we’re not concerned with their well-being. So I think our community involvement is looking beyond what we’re doing day-to-day, and towards the bigger picture.” Parry points out that part of her portfolio is managing non-profit organizations, so it’s especially important for her to be tied in to that world. With the company’s blessing, she’s used holiday time to work for World Vision in the Middle East. She also sits on various boards and committees, supporting such organizations as the Women’s Addiction Foundation, The Minerva Foundation for BC Women, and Family Services of the North Shore. PH&N and its parent company, RBC, support projects large and small, more glamorous and less so, from funding Olympic athletes to bankrolling a little league baseball team, with three employees in charge of handling the efforts and others free to make suggestions on worthy alternatives or additions. Based in Vancouver, Phillips, Hager & North was acquired by Royal Bank of Canada in 2008, forming RBC Global Asset Management, with John Montalbano as CEO. “It’s grass-roots oriented and driven by people in the firm,” says Montalbano. PH&N does a major fundraising effort for the United Way of Vancouver, staging numerous events with almost 100 per cent participation of employees and professionals, he says proudly. And, Montalbano notes, a whopping 70 of the 200 employees in PH&N’s Vancouver head office participated in the last Ride to Conquer Cancer, either hopping onto bikes themselves for the grueling journey or helping out from the sidelines. In that province alone, the company has raised almost a million dollars for this cause over four years. Scott Lamont, BCom 1989, Vice President, Fixed Income, has been one of the participants in the demanding ride for two years, with his adult son. Though the weather both times has been “horrendous,” Lamont says, “It’s a pretty inspiring experience, and people who do it once generally come

back because of the energy, the awareness and the finances it gathers for the fight against cancer.” On the other hand, says Stewart Marshall, BCom 1982, Vice President and Institutional Portfolio Manager, when it comes to getting PH&N involved, “it doesn’t have to be a big, high-profile inspirational campaign to raise money.” “I think everybody here feels like we’ve been incredibly lucky to be in the business we’re in at the time that we’re in it, and it’s been wonderful, and I think it’s important to be generous,” he explains. Marshall himself has been inspired by the community leadership of individuals like Vancouver philanthropist Joe Segal, who made a major donation for a new mental health facility at Vancouver General Hospital in 2010. Marshall remembers being moved by a passionate speech Segal made on the topic of mental health, but he’s been equally impressed by the challenging, lower profile work of the British Columbia Schizophrenia Society. The idea of PH&N donating to that cause is something Marshall personally championed. Although mental illness has not afflicted his own family, he knows people whom it has touched and feels the hands-on support and information the society provides is essential. No matter what the cause, Lamont marvels at the energy level of PH&N’s younger employees, who may not have as much money to give as the senior members of the firm, but tend to be the organizers of corporate-wide initiatives. That’s where the company gets something back from its community leadership. “The benefit to us is that we’re hiring people with very generous spirits and very generous characters,” says Lamont. “That’s the kind of culture we want to have, especially with the fiduciary responsibilities that we have for managing people’s money. The better job we can do in hiring people with that kind of character, the better culture we have, the better we are as a firm, and the more we can attract good people.” “I believe strongly that the will to give is mentored into somebody,” says Montalbano, a strong advocate of mentoring generally. “Creating an environment where we can show people how to give and how to give back, and encourage behaviours that extend well beyond the organization, is something our employees covet.” ■

“Community support is grass-roots oriented and driven by people in the firm,” says CEO John Montalbano. “Creating an environment where we can show people how to give and how to give back, and encourage behaviours that extend well beyond the organization, is something our employees covet.”

FALL/WINTER 2012 VIEWPOINTS

linkedin.com/company/rbcglobal-asset-management twitter.com/rbcgamnews

CO NN I E FA I R

Leadership is about stepping up BY

ALLAN JENKINS

PROPERTY TAXES. THEY ARE NOT

everyone’s favourite topic, but they finance up to 80 per cent of local government and services in some British Columbia municipalities. Helping local authorities and property owners decide the value of the taxed property is the job of BC Assessment, a provincial Crown corporation. And its work is never ending. “Property taxes have been around since the Egyptians,” quips Connie Fair, MBA 1988, President and CEO of BC Assessment. “We create the base for property taxes by assessing property value,” says Fair. “The work we do is used by local governments to raise $6.5 billion in property taxes annually. We like to describe that work as helping build healthy, sustainable communities.”

“You have to have that big picture. If you don’t, you are going to be knocked off course.” As CEO, Fair balances the interests and expectations of BC Assessment stakeholders: provincial lawmakers, employees, unions, taxpayers and municipalities. That balancing act has taught her a great deal about leadership. “You have to have a vision,” says Fair. “People look to the person at the top of the organization to guide the organization to where it

Connie Fair, MBA 1988, enjoys travel with her husband, including this recent visit to Hyde Park in London, England.

needs to go. You have to have that big picture. If you don’t, you are going to be knocked off course. “You also must be able to apply different leadership styles to different situations. Change leadership is an example. People are uncomfortable with change, because we all tend to want to stay with the status quo. Now, a CEO could push through the change, and that would be one style. But a leader would consider, ‘Is this natural resistance to change? Or are there perhaps real issues here we need to address?’”

Fair, a trustee for the Sauder Business Club of Vancouver, notes that different sorts of organizations require different leadership styles. “In business, as CEO, I am responsible for what happens in the organization. So a big part of my job is managing relationships with all the different players. “But as a trustee in the Sauder Business Club of Vancouver, I try to give the leaders a place to go where they can try things out. We may make recommendations, but I am more of a coach. And that is the right model for that situation,

because these people are smart, know what they are doing, and are doing a great job.” Fair believes leaders become leaders by seizing challenges. “I never wanted to be a leader. But sometimes it is about being at the right place at the right time. It is really is about taking opportunities and stepping up to challenges—knowing that even if you are out of your comfort zone, you probably have people around you who can help you succeed. When you are willing to do that, leadership opportunities come your way.” ■ Connie Fair, MBA 1988, President and CEO, BC Assessment Trustee, Sauder Business Club of Vancouver linkedin.com/pub/connie-fair

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“Leadership is a personal journey in which you undertake to fulfill the interests of your organization.” - Warren Spitz, BCom 1981

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Building

leaders BY

ALLAN JENKINS

On a late summer afternoon, Warren Spitz, BCom 1981, is preoccupied with a whirlwind of details. Not related to his more-than-fulltime work as president and CEO of the UCS Forest Group, but planning a party, and not just any party. Like many high achievers in business, Sptiz believes in leadership not just in the boardroom, but in his community as well. These days, the beneficiaries of Spitz’s volunteer energy include Sauder’s Faculty Advisory Board, and one of the most prestigious showcases of films in the world, the Toronto International Film Festival (TIFF), on whose board he serves. In September, Spitz organized the festival’s first-ever fundraising gala, and when Viewpoints caught up with him a few weeks before, he was fretting about the helipad he might need to book if Brangelina decided they’d come to the party. (They didn’t.) >>

VIEWPOINTS VIE V VI I W WP WPO P INT INTS S FALL/WINTER FALL/W FAL L/WINT L/W WIN INTER 201 2 2012 2

IN HIS UNPAID WORK, AS WELL AS HIS PAID WORK,

Spitz believes that “to be a leader, you have to want to lead. You have to believe in people. You have to be willing to take responsibility for others. “Leadership means taking initiative, and it means taking appropriate risks. If the job is walking the tightrope, you can’t be worried about falling off the tight rope.” So while films change lives in one way, and building products from companies such as Upper Canada Forest Products (part of UCS) change lives in another, Spitz believes that leadership is the same, no matter the application. Diving deeper, Spitz comments on three types of companies and the leadership style they require. “Public companies are typically larger and more established organizations. Leaders of these companies are focused on the growth, and preservation, of shareholder value. They work with many stakeholders internally and externally to ensure their planning is in lockstep with the goals of their shareholders. Depending on the industry, they typically would have to manage risk very carefully, while providing enough growth to satisfy their Boards. “Leaders in family companies are also often focused on risk mitigation and preservation of wealth, particularly where the leader is the steward of other family members’ fortunes. They typically are very attentive to the stated values of the company, as their actions reflect upon the family, and often the company carries their name. “And then there are entrepreneurial companies, such as mine. While there may be some seed money to get it going ($20,000 in our case), it is imperative for them to build capital as quickly as possible while establishing the values and culture that will result in longterm success. As a result, taking a greater degree of risk is necessary to generate the capital required to support growth. Further, start-up companies have to withstand the efforts of

FALL/WINTER 2012 VIEWPOINTS

larger companies vying to block their entry; so innovation, agile strategies and tireless effort are all essential to success. It is economic evolution, and to be strong enough to survive against competitors with existing market share, stronger balance sheets, and an established brand is a test that all entrepreneurs must pass.

“Leadership is a personal journey in which you accept responsibility for the achievement of stated objectives through your individual skills and efforts and those of others under your command.” Spitz believes that a big part of leadership is understanding the risk that an organization can handle, and managing that risk. From an operational perspective, however, he differentiates between management and leadership. “Management is very tactical. As a manager you are undertaking a mandate for an organization or a group of people and acting on it. You must

apply a broad range of management skills to extract the best performance from people and the organization while respecting the organization’s values, and achieving its mission and vision. Leadership, on the other hand, is determining what the vision, values and mission are going to be. And then ensuring you have the right people and structure in place to attain and fulfill them.” As a proud member of the Royal Regiment of Canada, Spitz also speaks on executive leadership at the Canadian Forces College in North York. In his coaching of senior military officers from Canada, the US and abroad, he emphasizes that “the essential trait of effective leadership is the desire to lead. Not everyone wants to lead. Some of the most responsible people are willing to take on any sort of mandate, but are unwilling to take responsibility for someone else. And that is okay. But as a leader you must be willing to take responsibility for all outcomes that occur under your watch.” So who leads the leader, one might wonder. Who has inspired this 13-time marathoner, family man, and Canadian business icon? Many, he says, but names three in particular. “John Paul II, for leading 1.6 billion Catholics around the world, and inspiring people behind the Iron Curtain in their crusade. In business, Lou Gerstner, for having the remarkable courage to say ‘IBM is no longer just a computer company’; and Richard Branson for fearlessly building a global and respected brand. He has walked the tightrope for 30 years without even worrying about what may or may not be underneath.” After an hour straight of high-energy conversation, Spitz takes a break. “I’d better go talk to my team about that helipad issue,” he laughs. ■

linkedin.com/warrenspitz

In their own words Who have been your strongest role models in leadership?

individuals. Not surprisingly, during his tenure, our team exceeded performance metrics.

Alan Liu BCom 1987 Managing Director of North Asia, Colliers International

I’ve had three individuals (a CEO, a supervisor, and a mentor) who have left me with (ideas) that I will carry the rest of my career. The first taught me the need to work and lead with passion. The next (taught me) about taking responsibility for youself, as well as for your staff. The last taught me to always do what you say you would do, to gain trust. These bits of wisdom gave me the foundations to develop my own leadership style and for others to follow.

Favourite quote about leadership?

“If your actions inspire others to dream more, learn more, do more and become more, you are a leader.” - John Quincy Adams

Jack Leung President, Commerce Undergraduate Society

Peter Legge, CEO and Chair of Canada Wide Media Limited, and a local community champion, is a remarkable talent. He taught me to understand the importance of humility, confidence and service in leadership. I’ve recommended all of my friends to read Peter’s book, The Runway of Life.

Favourite quote about leadership?

“A leader leads by example not by force.” - Sun Tzu

“You go through the gate. If the gate is closed, you go over the fence. If the fence is too high, we will pole-vault in. If that does not work, we will parachute in.”

Alvin Ma BCom 2000 City Expansion Lead, Microsoft (China) Ltd.

I had a manager at Microsoft in Beijing who really left an impact upon me. Although he managed a complex business in a challenging market, he definitely (prioritized his people) and took the time to get to know (them) and invest in their development. He communicated clearly his guidance, but empowered his team to execute. It showed me that good leadership is about respecting and caring about

- Nancy Pelosi

Paul Mitchell-Banks MBA 1986, PhD 1999 Group Lead, Human Environment, AMEC Environment & Infrastructure

William (Bill) Wareham—we met at the UBC MBA program, and is still an inspiration with his commitment to environmental causes. Smart, pure of heart, fearless, tremendous integrity and a wonderful friend. Bill leads through his very being.

Favourite quote about leadership?

“Effective leadership is putting first things first. Effective management is discipline, carrying it out.” - Stephen Covey

Who have been your strongest role models in your student life, and/or career, in terms of a leadership style to which you aspire? Why?

Dallas Henault MBA 2011 Enterprise Deal Analyst, Shaw Business

Before Sauder, I worked five years for former BC Premier Gordon Campbell. Whether you agreed with his politics or not, he was a leader. He had a vision and he knew how to turn that vision into reality. (He taught me) to know where you want to go and how you are going to get there while giving back to your community. Favourite quote about leadership?

“To laugh often and much; to win the respect of intelligent people and the affection of children; to earn the appreciation of honest critics and endure the betrayal of false friends; to appreciate beauty; to leave the world a bit better whether by a healthy child, a garden patch or a redeemed social condition; to know that even one life has breathed easier because you have lived.This is to have succeeded.”

What does leadership mean to you? Alice Chacon Marketing Manager, Loyalty Rewards, CIBC Sauder MBA, 2010 Mentor, Sauder Business Club of Toronto

Leadership has been evolving to a less authoritative, assertive model. Creativity and passion can really be sparked when each person in the team feels empowered and a subject-matter expert. Being a leader doesn’t mean telling people what to do, but instead means helping each person in the team move in the direction that you need to meet your goals. Now more than ever, when many business initiatives are being done through cross-business partnerships and cross-functional teams working together, leaders must become masters in influence. Favourite quote about leadership?

“The key to successful leadership today is influence, not authority.” - Ken Blanchard

-Ralph Waldo Emerson VIEWPOINTS FALL/WINTER 2012

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What kind of

leaders

“charismatic, manipulative and ambitious” BY

KARL AQUINO

MARK MUSHET

FALL/WINTER 2012 VIEWPOINTS

do companies want?

”balanced and emotionally intelligent” BY

DANIEL SKARLICKI READ MORE

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“Companies value balanced,

emotionally

intelligent leaders” BY

DANIEL SKARLICKI, Edgar F. Kaiser Professor of Organizational Behavior

COMPANIES WANT LEADERS WHO

develop their capacity to contribute to the company’s success. Rocky Mountaineer CEO Randy Powell, for example, has grown the company to be one of the most exciting train experiences in the world. Paul Hollands, CEO of A&W, continues to reinvent the company amidst a highly competitive market.

add value to a multitude of stakeholders including employees, customers and investors. Employees want to be inspired and challenged in their jobs, with opportunities to learn and grow. Customers want goods and services that deliver value to their lives, or support the needs of their companies. Investors want a competitive rate of return. Increasingly, all three stakeholders are looking for more value, and they want it delivered in a shorter period of time, with a greater concern for the social and natural environment. How do leaders deliver on all these fronts? Based on studies of effective leadership and countless interviews with many of the most admired corporate leaders, here are some of the more critical success factors, and how leaders add value to their company and community.

Create a vision and build culture Companies want a leader who provides a clear sense of direction. Effective leaders add value by providing an inspiring vision for the company and by building a corporate culture that aligns the company’s values and the goals. This process is not done by “the” leader but with the leadership team. Effective leaders need to be able to communicate those values

Make effective decisions with your team

to all its stakeholders. Lululemon CEO, for instance, views values and a team culture as the most important sources of the company’s success.

Deliver results: never take your foot off the gas The leader’s job is not about maintaining the status quo; companies want leaders who continually look for new and

innovative ways to create value for its stakeholders. They set stretch goals for themselves, their employees and the company. They support those goals by such things as identifying competitive strategies and ways to better serve the customer. They arrange the company’s financing so as to optimally leverage their financing opportunities. They provide training and development to highpotential employees in order to

Companies want leaders who make effective decisions. Superior decision-making occurs by integrating the many different aspects of a business, including strategic innovation, operations, finance, marketing, and the people side of the business. Effective leaders therefore must listen as well as speak. Importantly, they are not iconic superheroes—they are humans and they best know their own strengths and limitations. Trying to be a superhero can paradoxically lead to leader burnout via a process called the “impostor syndrome”—trying to be someone you are not. Instead, while maintaining a sense of positivity, leaders are comfortable with admitting to others when they do not know all the answers.

Be authentic and know yourself To deliver results, effective leaders are authentic. This means they CONTINUED ON PAGE 30 >>

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“Companies value leaders who are charismatic, manipulative and ambitious” BY

KARL AQUINO, Richard Poon Professor of Organizations and Society

IT OFTEN SEEMS AS IF HARDLY A

week goes by without the press reporting how some high-level executives at a well-regarded company engaged in activities that showed a blatant disregard for the well-being of the organization, its employees, or the broader community. Take the case of two top executives at the elite consulting firm McKinsey & Company: Anil Kumar, a graduate of the Wharton School, and Raj Rajaratnam, who received his MBA training at Harvard Business School. Both were recently convicted of insider trading when it was discovered that Kumar had provided inside information to Rajaratnam, a hedge fund manager and fellow Wharton alumnus. These executives join the growing list of top managers—Tyco’s Dennis Kozowski and Enron’s Jeffrey Skilling being protoypical examples—who sought to enrich themselves and those close to them at the expense of shareholders and the general public. To me, what is interesting is not that people who attain power and influence in corporations take advantage of their positions to benefit themselves and their cronies. This has been happening since the beginning of the industrial revolution. What is more interesting is how they got there in the first place. In other words, what personal qualities allowed them to reach the pinnacle of organizations, presumably because they were able to convince enough people around them that they were

healthy profits for as long as our fate is tied to that of the company. If this is so, then it provides an opportunity for managers of a different sort to achieve success within the corporate hierarchy and to eventually assume positions where their decisions can affect the lives of hundreds, if not millions of people.

Psycho-leader: that je ne sais quoi

deserving of being trusted in these roles. In the case of the executives and managers convicted of corporate crimes, and for unknown numbers of others whose crimes have gone undetected, this trust was clearly misplaced.

What we really, really want Corporate leaders, media pundits, and business professors often say that the kind of managers and executives who make the most

effective leaders are those who possess socially desirable qualities like integrity, authenticity, fairness, compassion and moral courage. Perhaps it would be better for society if most managers genuinely had these qualities. But it may be that when our economic prosperity depends on the success of a company, whether we are employees or shareholders, what most of us really want is something simpler: managers whose activities, whatever they may be, generate

Over the last few years, a handful of academics have been suggesting that the corporate environment as it is currently structured in most of the industrialized world is an arena that attracts and often rewards people who are self-serving, callous, egocentric and ruthless, but who can also be charismatic, manipulative and ambitious. I suspect most readers of this article can bring to mind someone they know of in a leadership position who has these qualities. Notably, in their extreme form, these qualities also describe what psychiatrists refer to as a psychopath. Psychopathy is a personality disorder characterized by shallow emotions, a lack of fear, an inability to empathize, tolerance for stress and impulsivity. Yet psychopaths also exhibit appealing characteristics such as superficial charm and apparent authenticity. It is this combination of having antisocial and socially desirable attributes that makes them CONTINUED ON PAGE 31 >> VIEWPOINTS FALL/WINTER 2012

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understand who they are and what they value. This does not happen by accident. To achieve authenticity, leaders need to make time for selfreflection to revisit and recommit themselves to their values. Leaders who lose touch with their values lose touch with the people around them. One important value, for example, is the courage to do the right thing even in the face of unpopular opinion. While leaders sometimes need to make difficult and potentially painful decisions, they do so with compassion and grace. When announcing a layoff resulting from a restructuring, for example, a local CEO took responsibility to meet personally with each laid-off employee.

Be fair and trusting Effective leaders demonstrate integrity by delivering on their promises. They are both fair and trusting. My own research has found that fair treatment inspires employees to go beyond the call of duty, and lack of fairness demotivates them and erodes trust. Trust inspires loyalty and commitment. Distrust hurts employee performance because, as our research shows, workers waste energy watching their backs and avoiding exploitation by their boss. What can leaders do to promote fairness? They can, for example, solicit and listen to employee input, make unbiased decisions, and recognize and reward workers for their contributions to the organization’s success.

Be emotionally intelligent Companies need leaders to keep a finger on the pulse of the goings on. Effective leaders are emotionally intelligent: they recognize, regulate and manage their emotions, as well as those of others and teams. On 9/11, for instance, when the hijacked airplanes struck the Twin Towers, Starbucks CEO Howard Schultz sent all Starbucks employees home to be with their families. He knew that was where they needed to be.

Practice balance Companies need leaders to balance tensions between its multiple stakeholders. For instance, aside from delivering financially, they must motivate employees and deliver results to the customer. Mountain Equipment Co-op’s CEO, David Labistour, balances the demands set by the company’s original mandate of corporate social responsibility, and yet has grown to become Canada’s largest supplier of outdoor recreation equipment. Companies also need leaders who are healthy and able to perform at their peak. Effective leaders

balance their work and the physical, mental and psychological aspects of their lives. Balance is required for the stamina to withstand the stress of leadership. Balance does not require a 50/50 split between work and play. Instead, it requires leading a full life and engaging a broad social network. Our research shows that having personal friendships outside of work helps people endure difficult times at work.

Practice being a leader by giving others room to lead Most importantly, effective leaders know they serve as role models and that the tone is set at the top. Their job is to develop leadership throughout the company. They understand that, like other forms of performance, leadership takes practice. By being visionary, authentic, self-aware, fair, trusting, emotionally intelligent and balanced, they deliver results and inspire others to do the same. In short, while issues such as profitability are important, they are not enough; leadership is multifaceted and less about acting as “the” leader than about creating room for others to lead. ■

“Effective leaders are emotionally intelligent: they recognize, regulate and manage their emotions, as well as those of others and teams.”

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>> CONTINUED FROM PAGE 29

dangerous and also potentially effective organizational players. If we take the characteristics of a psychopath and put a more positive spin on them, one could describe a psychopathic personality as someone who makes rational decisions without being unduly influenced by sentiment, who can sell ideas to a skeptical audience, shows grace under pressure, is a bold and audacious risk taker, and who is exceptionally confident and determined. On the surface, it might seem to most observers that such a person would make a fine candidate for a high-level managerial position. It is for this reason that some scholars have estimated that while about one per cent of the people in organizations fit the clinical definition of a psychopath, the proportion is probably greater at higher levels of the corporation. True psychopaths may be relatively rare, but, like all personality characteristics, there is variation in how closely a person approximates the psychopathological profile. If the traits that describe a psychopath do indeed help people ascend the corporate ranks, then one does not have to be clinically psychopathic to reach the highest levels of the organization. It may be enough for a person to be in the top 10 per cent of the population on the various traits that characterize psychopathy. But if many leaders of companies are what we might refer to as “lightweight psychopaths,” can this be a good thing?

If it walks like a duck, and talks like a duck… One answer might be yes, if the primary goal of the company is to

“Managers and executives who have psychopathic tendencies are ambitious, self-interested, charismatic, bold and unencumbered by sympathetic emotions.” make profits during the lifetimes of those who directly enjoy the benefits of an increasing stock price or six figure bonuses for making their yearly performance targets. After all, if managers and executives who have psychopathic tendencies are ambitious, selfinterested, charismatic, bold and unencumbered by sympathetic emotions, they might be more willing to make the tough decisions that make money for the company, even if these decisions end up hurting large numbers of people, destabilizing the economy,

or poisoning the environment. Perhaps some psychopathic tendencies among its key leaders may actually be what a company needs to thrive in a highly competitive, capitalistic economy where most governments lack the resources and political will to detect and punish corporate misbehavior. Could it be that what shareholders and employees really value are leaders whose personalities make them capable of demonstrating an amoral flexibility and who work hard because they crave the status and prestige that

comes with amassing great wealth? On the other hand, some management scholars have cautioned that psychopathic managers can lead a company to ruin if their illegal activities are detected or if their excessive selfregard causes them to focus on their own needs while ignoring those of the organization. From my perspective, it’s not obvious that the presence of psychopathic managers will necessarily lead companies to fail, or that possessing psychopathic tendencies will make a person an ineffective leader. It might make them an immoral or unlikable leader, but this does not mean that they will not be able to run a profitable enterprise. For evidence, one need only read the biographies of iconic leaders to find examples of behavior that could be interpreted as being more psychopathic than saintly, or even normal. But even if it could be shown that having managers with psychopathic tendencies is bad for companies in the long run, this probably wouldn’t make much of a difference to shareholders and employees. As John Maynard Keynes once observed, “The long run is a misleading guide to current affairs. In the long run we are all dead.” Most people discount the future, so it is the probably the prospect of short-term gain that most strongly influences shareholders, board members and subordinates to accept people with psychopathic tendencies in management and executive roles. At least for as long as they are able to keep profits high and persuade government regulators to lay low. ■

VIEWPOINTS FALL/WINTER 2012

EARNING INTEREST TRENDS, TIPS, AND TIDBITS

Stephen Covey: 1932–2012 STEPHEN COVEY, A PROMINENT THINKER

about management and leadership, died this past July. He was the author of the bestselling The Seven Habits of Highly Effective People, First Things First, Principle-Centered Leadership, and others. He was known for his quotes about leadership and management. “Effective leadership is putting first things first. Effective management is discipline, carrying it out.” “Every human has four endowmentsself awareness, conscience, independent

10 powerful female leaders Indra Nooyi, 56, Chairman and CEO, PepsiCo, MBA, Yale University Irene Rosenfeld, 59, Chairman and CEO, Kraft Foods, PhD Marketing, Cornell University Maria das Graças Silva Foster, 59, CEO, Petrobras-Petróleo Brasil, MBA, Fundacao Getulio Vargas

will and creative imagination. These give us the ultimate human freedom: the power to choose, to respond, to change.” “Management is efficiency in climbing the ladder of success; leadership determines whether the ladder is leaning against the right wall.” “What we are communicates far more eloquently than anything we say or do.” “The main thing is to keep the main thing the main thing.” “There are three constants in life... change, choice and principles.” ■

Notable business blogs Duct Tape Marketing

ducttapemarketing.com Marketing strategies and tools for the small business. Converstations

converstations.com Mike Sansone’s award-winning blog on how small businesses and entrepreneurs are successfully using social media and web-based marketing tools. Church of the Customer Blog

customerevangelists.typepad.com/blog/

Marissa Mayer, 37, CEO Yahoo!, MS Computer Science, Stanford University (youngest CEO of a Fortune 500 company)

Best selling authors Jackie Huba and Ben McConnell examine why customers show up—and why they stay.

Laura Lang, 56, CEO, Time Inc Time Warner, MBA Wharton

By the editors of Entrepreneur magazine.

Chanda Kochar, 50, CEO ICICI Bank, MA Management, Jamnalal Bajaj Institute of Management Studies Ellen Kullman, 56, Chairman and CEO, EI du Pont de Nemours, MA Management, Kellogg School of Management Sue Gardner, 45, Executive Director, WikiMedia Foundation, BA Journalism, Ryerson University Carol Meyrowitz, 58, CEO, TJX Companies, BA, Rider University Chua Sock Koong, 53, Group CEO, SingTel, BA Accounting, University of Singapore Source: Forbes; 100 Most Powerful Women in the World

FALL/WINTER 2012 VIEWPOINTS

The Daily Dose

entrepreneur.com/blog/index.html farmgateblog.com

farmgateblog.com “Where Farm Decision-Makers Start Their Day.” Stu Ellis’ daily take on farming economics, agricultural policy and crop production trends. Economist’s View

economistsview.typepad.com/ Economics professor Mark Thoma addresses complicated economic and fiscal issues in layman’s terms. The China Business Network

thechinabusinessnetwork.com Articles to help Western companies better understand the Chinese market. Tom Davenport: HBR Blog Network

blogs.hbr.org/davenport Thomas H. Davenport is a visiting professor at Harvard Business School. He looks at leadership, organizational judgment and decision-making. David Roodman’s Microfinance Open Book Blog

http://blogs.cgdev.org/open_book Hows does microcredit help and hurt people and countries?

Business books: new and notable Mitch Joel, a journalist and social media thinker, and past chair of the Canadian Marketing Association, recently shared his watch list of recently released and upcoming social media and business books. Here are some of them, with notes from Viewpoints’ editors and various online sources.

Future Perfect by Steven Johnson The New York Times bestselling author Steven Johnson makes the case that a new model of political change is on the rise, transforming everything from local governments to classrooms, from protest movements to healthcare. (released September 2012)

Makers: The New Industrial Revolution by Chris Anderson Editor in Chief of Wired magazine and author of The Long Tail and Free, argues that entrepreneurs can use web thinking to create small, nimble manufacturing companies that will uproot and topple traditional, large manufacturers. (October 2012)

The Power of Why

The Commitment Engine

Antifragile

by Amanda Lang

by John Jantsch

by Nassim Nicholas Taleb

From the invention of the curved shower curtain rod to the introduction of an elevator that creates electricity as it moves from floor to floor, The Power of Why persuasively spells out the connection between innovation and productivity that is so crucial in the knowledge economy. (October 2012)

Why are some companies able to generate committed, long-term customers while others struggle to stay afloat? Why do the employees of some organizations fully dedicate themselves while others punch the clock without enthusiasm? By the author of Duct Tape Marketing. (October 2012)

The author of The Black Swan and Fooled By Randomness writes about how to gain from disorder and chaos while being protected from fragilities and adverse events. (November 2012)

Amazing Things Will Happen

The Icarus Deception

by C.C. Chapman

by Seth Godin

C.C Chapman is a prominent social media thinker, and this book offers straightforward advice that can be put into action to improve your life. Through personal anecdotes from the author’s life, and interviews of successful individuals across several industries, this book demonstrates how to achieve success, in all aspects of life, through hard work and acts of kindness. (December 2012)

“We are all artists now, and the connection economy we’re living in relentlessly rewards those who do work that matters. Okay, you knew that. So why aren’t you?” Interestingly, the book is being “crowd-funded” through Kickstarter. (December 2012)

Can’t Buy Me Like: How Authentic Customer Connections Drive Superior Results by Bob Garfield and Doug Levy Levy is the founder of MEplusYOU, a branding agency. Garfield, an advertising critic, is author of The Chaos Scenario. (March 2013)

The Fate of Power and the Future of Dignity by Jaron Lanier Lanier is both a scientist, well known for his research into virtual reality, and a thinker, musing about how technology affects us in sometimes troubling ways. This book looks at how network technologies are concentrating wealth while reducing overall growth and threatening the middle class, and therefore our democracies. (March 2013)

VIEWPOINTS FALL/WINTER 2012

SAUDER FACULTY INSIDER INFORMATION

Sauder-based think tank releases report ranking efficiency of world’s airports The Sauder-based Air Transport Research Society (ATRS) has released its 12th annual Global Airport Benchmarking Report at the 2012 ATRS World Conference in Tainan, Taiwan on June 28. Led by Sauder Professor and ATRS President Tae Oum, the team of leading international aviation academics Tae Oum found that airports in Atlanta, Seoul, Copenhagen and Sydney are the most efficient on their respective continents among international airports serving more than 15 million passengers a year. Among Canadian airports, Vancouver International Airport (YVR) ranked highest in efficiency, coming in at fourth in North America. The ATRS is the world’s leading academic society in the field of air transport. The annual report measures and compares the operating and managerial efficiency and cost competitiveness of 183 airports and 25 airport groups in North America, Europe, Asia and Oceania. ■

Report on research ranks Sauder as Canada’s strongest business school A new report, released by the Higher Education Strategy Associates (HESA), placed UBC’s Sauder School of Business as the strongest business school in Canada for publication research. The report, “Making Research Count: Analyzing Canadian Academic Publishing Cultures,” compares research output and impact of 71 Canadian universities. Sauder ranked first in accounting, finance and management, making the School the strongest in three out of the six disciplines assessed in ranking. The survey used a complete roster of academic staff for each school. Each faculty name was fed into the program, which used Google Scholar to derive an H-index—a bibliometric indicator that combines productivity and impact data to generate statistics for analysis. The ranking considers the full breadth of academic disciplines. Overall, the University of British Columbia ranked a strong first in social sciences, including economics, psychology and social work, as well as in other areas such as biology, math, statistics and horticulture. ■

FALL/WINTER 2012 VIEWPOINTS

New full-time faculty Sauder welcomes 13 new full-time faculty members for the 2012/13 academic year. Perry Atwal, Full-time Lecturer in the Organizational Behaviour and Human Resources Division. Atwal holds a Bachelor of Science with honours from Aston University and an MBA from the Sauder School of Business. He has taught courses on service management, employment relationships, strategy and leadership within the Sauder Perry Atwal School of Business. Yichuan (Daniel) Ding, Assistant Professor in the Operations and Logistics Division. Ding recently received his PhD in Management Science and Engineering from Stanford University. His doctoral dissertation is entitled “A Scoring-Based Ranking System and its Application in Cadaver Kidney Allocation.” His research focuses on healthcare management, including kidney allocation, appointment scheduling and patient flow optimization. Ding’s work has been published in Mathematics of Operations Research and Operations Research. Tracey Gurton, Full-time Lecturer in the Organizational Behaviour and Human Resources Division. Gurton has been teaching at Sauder for 10 years in our undergraduate, graduate, executive and international programs. Subjects include organizational behaviour, building and managing teams, managing change, managing diversity, organizational culture, communication, organizational change, motivation and performance management and human resources. Gurton holds a BA in Communication from Simon Fraser University, with professional certificates in French and Kinesiology. She has also studied Applied Ethics at the graduate level here at UBC. Lai Jiang, Assistant Professor in the Marketing Division. Jiang recently received her PhD in Economics from the Stern School of Business, New York University. Her job market paper is entitled “The Welfare Effects of ‘Bill Shock’ Regulation in Mobile Telecommunication Markets.” Her research interests include industrial Lai Jiang organization, applied econometrics and pricing strategy. Howard Kung, Assistant Professor in the Finance Division. Kung recently received his PhD in Finance from the Fuqua School of Business, Duke University. His doctoral dissertation is entitled “Essays in Financial Economics.” Kung’s research interests include asset pricing and macroeconomics. He has a paper forthcoming in The Review of Howard Kung Financial Studies.

Ning Nan, Assistant Professor in the Management Information Systems Division. Nan holds a PhD in Business Information Technology from the Ross School of Business, University of Michigan. Prior to joining Sauder, she was an Assistant Professor at the Price College of Business, University of Oklahoma. Her research interests include complex adaptive systems, Ning Nan multi-agent modeling, dispersed teamwork, IT infrastructure and other areas. Nan has published in MIS Quarterly, Journal of Public Administration Research and Theory, IEE Transactions on Software Engineering, Journal of the Association for Information Systems,The Innovation Journal, Journal of Information Technology Research, Journal of Knowledge Management, and Computational and Mathematical Organization Theory. Carolin Pflueger, Assistant Professor in the Finance Division. Pflueger recently received her PhD in Business Economics from Harvard University. Her doctoral dissertation is entitled “Inflation and Asset Prices.” Her research interests include asset pricing, macroeconomics, corporate finance Carolin Pflueger and econometrics. Pflueger has published in Annual Review of Financial Economics. Adam Saunders, Assistant Professor in the Management Information Systems Division. Saunders holds a PhD in Management from the Information Technologies Group at MIT’s Sloan School of Management. Prior to joining Sauder, he was a lecturer and postdoctoral fellow at the Wharton School, University of Pennsylvania. Adam Saunders Saunders has previously worked for the White House’s Council of Economic Advisers in Washington, D.C. His research interests include IT and economics, intangible assets, organizational capital and other areas. Saunders has published in Journal of Economic Literature and Sloan Management Review, and is the author of Wired for Innovation: How Information Technology is Reshaping the Economy Eleni Simintzi (MIT Press, 2010). Eleni Simintzi, Assistant Professor in the Finance Division. Simintzi recently received her PhD in Finance from the London Business School. Her doctoral dissertation is entitled “Essays in Financial Economics.” Simintzi’s research interests include empirical corporate finance, product market competition, law and finance and private equity.

Chunhua Wu, Assistant Professor in the Marketing Division. Wu recently received his PhD in Marketing from the Olin Business School, Washington University. His doctoral dissertation is entitled “Essays on Internet Marketing.” Wu’s research interests include empirical and analytical modeling in marketing, search advertising, advertising networks and user generated contents marketing. Wu’s work has been published in Chunhua Wu Marketing Science. Lulu Zheng, Full-time Lecturer in the Finance Division. Zeng holds a PhD in Finance from Carnegie Mellon University. Prior to joining Sauder, he was an Assistant Professor of Finance at the Stuart School of Business, Illinois Institute of Technology. His teaching interests include real estate finance, derivatives pricing, corporate finance, Lulu Zheng international finance and other areas. Hao Zhang, Assistant Professor in the Operations and Logistics Division. Zhang holds a PhD in Operations, Information & Technology from the Graduate School of Business, Stanford University. His doctoral dissertation is entitled “A Dynamic PrincipalAgent Model with Hidden Information.” Prior to joining Sauder, he was an Assistant Professor, Department of Information & Operations Management, Marshall School of Hao Zhang Business, University of Southern California. His research interests include dynamic principal-agent and multi-agent games, supply-chain management and partially observable Markov decision processes (including Bayesian learning). Zhang’s work has been published in Operations Research, Management Science, and Mathematics of Operations Research. Ting Zhu Ting Zhu, Assistant Professor in the Marketing Division. Zhu holds a PhD in Marketing from Carnegie Mellon University. Prior to joining Sauder, she was an Assistant Professor at the Booth School of Business at the University of Chicago. Zhu’s research interests include entry models, retail competition, pricing, game theory and empirical industrial organization. Zhu’s work has been published in Marketing Science, Journal of Marketing Research, Quantitative Marketing and Economics, and Marketing Letters. ■

VIEWPOINTS FALL/WINTER 2012

SAUDER FACULTY INSIDER INFORMATION

Professor helps 2012 Canadian Olympic team go carbon neutral According to Associate Professor James Tansey, Executive Director of Sauder’s ISIS Research Centre, the more than 200 countries competing at the London Games and the associated travel, construction and operations, generated more than two million tons of carbon dioxide. Tansey worked to reduce the environmental impact of the Games through his spinoff carbon management James Tansey company Offsetters by partnering with the 2012 Canadian Olympic Team to offset its travel to London. With Tansey’s help the team offset around 1,500 tons of greenhouse gas emissions—a volume equivalent to 300 Olympic-size swimming pools. This experience with Team Canada builds on his previous work with the organizing committee of the 2010 Winter Olympics in Vancouver to make those Games the first to be carbon neutral. ■

COE spinal cord research featured at major conference At the Interdependence Global SCI Conference, hosted in Vancouver by the Rick Hansen Foundation, the Centre for Operations Excellence presented findings of their three years of work with the Rick Hansen Institute investigating the treatment of spinal cord injuries. Led by Professor Derek Atkins with COE team members Argelio Santos and Rachel Lewis, the researchers worked with six sites across Canada to identify best practices that will help inform an accreditation process for spinal cord centers of excellence. ■

Finance Professors get recognition for paper

Jason Chen

Assistant Professor Jason Chen and Associate Professor Hernan Ortiz-Molina, along with their co-author from New York University, were runners-up for the Review of Finance’s Spängler IQAM Prize for Best Paper for their study “Do Nonfinancial Stakeholders Affect the Pricing of Risky Debt? Evidence from Unionized Workers.” They were presented with the award at the European Finance Association meeting in Copenhagen on August 12. ■

FALL/WINTER 2012 VIEWPOINTS

Professor awarded Queen Elizabeth II Diamond Jubilee Medal On July 11, Sauder Associate Professor Garland Chow, in the Operations and Logistics Division, was awarded the Queen Elizabeth II Diamond Jubilee Medal in a ceremony at the Liu Institute for Global Issues at the University of British Columbia. As an internationally recognized authority on motor carrier transportation and supply chain management, Chow Garland Chow received the medal for his work which ensures “that Canadian goods continue to cross the border in an efficient, safe and secure manner.” This commemorative medal was created to mark this year’s celebrations of the 60th anniversary of Queen Elizabeth II’s accession to the throne. ■

John Montalbano joins Faculty Advisory Board The Sauder School of Business is pleased to announce that John Montalbano, BCom 1988, CEO of Royal Bank of Canada (RBC) Global Asset Management, has joined the Faculty Advisory Board. Montalbano holds a Chartered Financial Analyst designation, as well as a Bachelor of Commerce, with Honours, from the Sauder School of John Montalbano Business, and is a Leslie Wong Fellow of the UBC Portfolio Management Foundation. He is a trustee of the Killam Trusts, which is largely devoted to scholarships at the graduate and postgraduate levels awarded at Killam institutions in Canada and the Canada Council. He is a co-founder and director of the Take a Hike Youth at Risk Foundation, and member of the Advisory Boards of the Phillips, Hager & North Centre for Financial Research and the Bureau of Asset Management at the Sauder School. Montalbano has served as CEO of RBC Global Asset Management, the asset management division of RBC, since May 1, 2008, when RBC acquired Phillips, Hager & North Investment Management Ltd. (PH&N). He is also a member of the Operating Committee of RBC Wealth Management, one of the five business segments that define RBC. He joined PH&N in 1987 as an equity analyst and also became an institutional portfolio manager in 1999. He assumed successive leadership roles with respect to the firm’s client-facing operations and was appointed President of PH&N in April 2005. ■

CLASS NOTES

Dear alumni, From Vancouver to Hong Kong and from London to Karachi, the Sauder community includes 30,000 33,000 alumni in 74 67 countries. countries. Each of our alumni holds a piece of the School’s history as well as its future. The connections that hold our community together are our School’s most meaningful strength. So tell us your story, and share your news. We want to hear from you! Whether you just got the job of your dreams or are are still still finding finding youryour way,way, tooktook a trip a trip around around the the world world or have or have beenbeen enjoying enjoying the the comforts comforts of home, of home, got got married married or became or became a a parent—fill us in on your family and career, accomplishments and interests. Let us hear from you, and send us your photos. We’ll print your news in the Class Notes section of Viewpoints magazine, which is consistently ranked as one of the most popular segments of our publication. Through the Class Notes, you will share your story with your fellow alumni and current students, reconnect with old classmates, and stay connected as a vital part of the Sauder community. We’re looking forward to hearing from you.

1980S

Penny Tham DULE 1981 After almost 20 years in investment banking as an in-house lawyer and compliance officer, I quit my job at RBS in London, UK last June for a much-needed sabbatical. I spent six months travelling around the world and checking out several places on my bucket list. The highlights were Petra (Jordan), Machu Picchu (Peru) and Easter Island (Chile). In February of this year, I started a new job as the Head of Compliance for IFC, the private sector arm of the World Bank. I am now based in Washington, DC and enjoy the challenges of working at an international development organization.

Linda Kern BCom 1984 The past four years I have been working as a sales trainer and coach throughout North America. I love working with sales people and business owners to help them realize better results. I have been married to Greg for 20 years and have 2 daughters, Tess (14) and Juliet (11). Tess went to Kenya this summer with Free Children to help build a school for local kids. Juliet spent the summer at Girl Guide camp and hanging out with her friends. We are also the proud owners of an eight month old yellow lab puppy named Teddie.

SHARE YOUR NEWS Class Notes are easier than ever to submit. Simply fill out the online form at www.sauder.ubc. ca/alumni/classnotes

eronicaWargo Veronica Wargo BCom1987 Graduation is upon us! In addition to his high school diploma, Luke is graduating from the Paradise Valley Community College with two degrees: Associates in Arts (AA) and Business (ABUS). He was also selected by the college and the high school to give the commencement speech for the Commencement Exercises. He has a 4.2 Grade Point Average and will have completed 97 college credits. Sedona is graduating with a 3.53 Grade Point Average and will have completed 70 college credits, many of which will transfer towards her degree. We are so very proud of both of them! Grandma and Grandpa are giving them a Hawaiian cruise as their gift; we are of course tagging along. We are all very excited to get away and relax before they start their engineering degrees in the fall at ASU Polytech campus in Mesa, AZ. VIEWPOINTS FALL/WINTER 2012

CLASS NOTES

Michel i h l Belland ll d BCom 1987 Recently promoted to Regional Vice President, Global Accounts for Interface. Interface is a global manufacturer of carpet tile flooring and a leader in sustainability. Michel manages customers that have facilities located in multiple countries. He resides in Atlanta, GA with his spouse Sylvia and ten-year-old son Colby.

good people to work with, and supportive management make ICBC a great place to work! My daily commute to North Vancouver on the Canada Line and SeaBus is one of my simple pleasures, since I can keep up on the news and my social networks, making the time more productive. Charity work is very important to me, so I serve on the Board of the Pacific Centre for Discipleship Association—which operates the Menno Simons Centre (MSC), a Christian student residence at 11th and Crown near UBC. As the Treasurer of the Quiring Chamber Music Camp, I am glad to see opportunities for young people to learn and grow through this day camp for student musicians in July. Although I live in East Vancouver, my church is also near UBC: the Point Grey Inter-Mennonite Fellowship.

1990S Eric Cheung MBA 1991 After joining Publicis Groupe China for three years, I was promoted to CEO of the shared service centre of Publicis Groupe China in May 2012. Publicis Groupe is expanding in China, acquiring seven different local companies in China in the last twelve months and more to come. Apart from the busy work schedule, I also like traveling and enjoyed a trip to Dubai in early October.

Kevin Hiebert BCom 1993 Highlights: For the past two years I’ve been working at the Insurance Corporation of British Columbia as an Information Systems Solutions Leader, supporting the Finance and Corporate Affairs divisions. Interesting puzzles to solve, 38

FALL/WINTER 2012 VIEWPOINTS

JoAnne McLean BCom 1993 In September 2012, FriesenPress published my debut novel, The Gift: Awakening. This urban fantasy thriller is the first of a trilogy set in contemporary coastal BC. The Gift: Awakening follows the heroic journey of a young woman in her quest to overcome the burden of an extraordinary gift and find her unique place in the world. Emelynn Taylor’s new powers, bestowed unceremoniously and unasked for, thrust her into a vortex of mystery, wonder and intrigue that promise to change her—and her world—forever.

In my real world, I share a home with my husband and two spoiled dogs on one of the northern Gulf Islands where I continue to write and neglect my gardens. www.jpmclean.net

Josh Bender BCom 1997 I moved to Los Angeles four years ago with my beautiful wife Talia and incredible daughter Aria. In my current role as Director of Ticket Sales and Service for the Los Angeles Kings, I got to fulfill a lifelong dream when I hoisted the Stanley Cup during the Kings championship run in June. It’s heavier than it looks!

D i ll W ll BC Danielle Wallace BCom 1999 On April 27th, Danielle welcomed a new baby, Violet. Violet is off to an active start and completed her first five km race (with mom) at one week and a few more in the first twelve weeks along with her toddler brother Quintin. Danielle is also enjoying her role as VP, Best New Product Awards and is also delighted to be creating training and e-learning programs for Fortune 500 companies.

2000S

Paul Lescisin BCom 2001 On August 1, 2012 I celebrated my 10th anniversary as the Fleet & Commercial Manager at the Mertin Auto Group in Chilliwack, BC. My duties were recently expanded with my promotion as the Group’s Commercial Leasing Manager as well. I now oversee all automotive fleet, commercial and leasing activities for the General Motors, Nissan/Nissan Commercial and Hyundai franchises in our group. Traveling to Toronto, ON, Indianapolis, IN, and Canton, MS this year alone, my career is extremely dynamic and builds upon the management foundation forged from my years at UBC Commerce. To all alumni working at firms utilizing a vehicle fleet anywhere in Canada, please do not hesitate to contact me. Our commercial leasing options and fleet management solutions have saved several firms thousands to their bottom line in the past ten years alone.

SHARE YOUR NEWS Class Notes are easier than ever to submit. Simply fill out the online form at www.sauder.ubc. ca/alumni/classnotes

Oyvind Helgerud MBA 2002 Sheelah (Turner, MSc 2002) and I were married in Norway in August 2005. After graduating from UBC, Sheelah joined the aviation industry in the UK, and I went back to the Norwegian Army where I stayed until 2003, when I joined Sheelah in the UK. In 2006 we both joined British Airways and in 2011 we both left British Airways for new challenges. Sheelah is now with AXA Insurance, while I am working for the airline bmi (British Midland International). In our spare time we travel as much as possible. We have also acquired three cats that keep us busy. 2012 is our big year. Late last year it became clear that bmi would not survive, and in April this year the airline was bought by BA. We therefore decided to follow a dream we have had for a few years now; we are going to drive from the northernmost point of Norway to the southernmost point in South Africa via the west coast of Africa. You can follow our journey on www.kapp2cape.net, where you can also find a link to our facebook page and our blog. Our journey started on October 10 from the UK, and we aim to reach Cape Town in time to spend Christmas with family ... Christmas 2013 that is.

Mark Nowostawski BCom 2005 Just an update that my wife Lisa (nee Janzen) (BCom 2001) and I had our second child in August. It’s a very fun time and we’re busy, but our three-year-old is a great help! :-) Otherwise, work’s work, life’s good.

Steven Tai BCom 2008 Submitted by Simin Radmanesh, BCom 2008 After graduating with a BCom from the Sauder School in 2008, Tai moved to London to study fashion at the prestigious Central Saint Martins. He graduated last year and this year was invited to compete at the high-profile Hyères International Fashion Festival, where one of his looks was selected by a judging panel headed by Yohji Yamamoto to be featured in a future Chloe collection. He also took home a 15,000 euro cash prize. Following that success, he was invited to show his first full collection at Berlin Fashion Week in July of this year, and hosted a VIEWPOINTS FALL/WINTER 2012

CLASS NOTES showroom at Milan Fashion Week in September. To date, he has been covered in French and UK Vogue, German Elle and Elle Canada, Dazed and Confused and numerous blogs. He has recently completed a design internship at Stella McCartney. Tai’s fellow Sauder graduate Simin Radmanesh, BCom 2008, notes the influence of Tai’s academic experience on his collection, which she calls “intellectual… drawing on Steven’s love of books and study. He rediscovers the beauty and aesthetic of books, creating a collection that brings to life the repetitive motion of bookbinding. The clothes are beautiful, humorous and strong—which is a way to celebrate the idea of a confident and smart woman. “The discipline with which he approaches his work and the high standards he sets himself are also reminiscent of our Sauder days. The true gift of Sauder is to instill core skills and competencies that allow grads the freedom to translate them into any venture they choose to pursue. And while Steven’s fashion craft may have been honed elsewhere, as he scales up his business, the key business skills acquired at Sauder are already moving him far ahead of his young designer counterparts.” James Lin BCom 2009 Dear Shanghai Summer Program—2008: Four years after my first ever Shanghai experience, I’ve come back to this amazing city. I miss our good old days, SSP 08!!

SHARE YOUR NEWS Class Notes are easier than ever to submit. Simply fill out the online form at www.sauder.ubc. ca/alumni/classnotes

FALL/WINTER 2012 VIEWPOINTS

2010S

Ingrid Hartmann MBA 2011 MBA Sailing Regatta in Portofino, Italy. William Davidson BCom 2012 Have been relaxing at home in my hometown of Toronto, searching for new opportunities, enjoying the company of old friends, and pursuing different paths of growth and learning. Looking back on fond memories of Sauder and UBC, thinking of the connections and people I met. Recent accomplishments: Got into the hospitality industry, starting to learn art, getting outdoors more.

in memoriam

Cheryl Loukas Diploma in Sales and Marketing 2010 Shortly after graduating from the Marketing and Sales Management program at the UBC Sauder School of Business in 2010, I decided to start my own company. The skills that I learned at Sauder gave me the confidence and qualifications to venture out on my own. I started my business in September 2010 and I have never been happier. My firm specializes in Marketing and Business Development for the Architecture, Engineering and Construction Industries. My team has prepared successful proposals in excess of $200 million in new construction. I went to Italy for two weeks in June of 2012 to celebrate my company’s success. I am grateful for the wonderful instruction I received from my professors, but I am most grateful for Dr. Daniel Gardiner. During my second year of the SMEI program, my father passed away and I suddenly felt that I would not be able to get through my studies. Dr. Gardiner took the time to talk to me and instill confidence that I could make it through.

Ralph Raymond Loffmark, Professor Emeritus, Sauder School of Business Born on February 22, 1920, in Chase, BC, Professor Emeritus Ralph Loffmark passed away on July 7th, 2012 at the age of 92. He is survived by his sons Gregory and Carl, sister Dorothy (of California), grandchildren Conlan, Kyle, and Ava. Remembered by his former wife Barbara (now Diana Matthew), mother of his sons. Early in life, Ralph demonstrated a keen appreciation for the value of an education, which ultimately led him to his career choice. He was part of a family which could trace its roots back to the 1400s, and he remained close to his generation’s love of nature. Gradually, Ralph added an academic dimension to his lifetime objectives, and accordingly, overcame severe economic obstacles, becoming the family’s first to graduate university with a BA and MBA. Later, Law and Chartered Accountancy degrees would be included. Specializing in teaching law to Commerce students, Ralph wrote the Tax and Estate Planning and other related books. In 1962, Ralph entered provincial politics, serving as Minister of Trade, then switching to Minister of Health in 1967. Teaching remained close to his heart and in 1972, he returned to UBC as a professor. Prof. Loffmark was highly dedicated to his students, and considered it a crowning achievement when in 1975, he received a

Master Teacher Award. He continued at UBC until his retirement in 1990. Prof. Loffmark was instrumental, along with Dean Peter Lusztig and co-founders Murray Leith Sr., Michael Ryan and Milton Wong, in setting up the UBC Portfolio Management Foundation. The first of its kind in Canada, the program provided undergraduate students real-world experience in financial investing. Its structure required perusal and approval of the British Columbia provincial government and the Canada Revenue Agency. Prof. Loffmark was instrumental in acquiring those approvals for a structure that may still be unique in Canada and gives maximum benefit to the students in the program and to the Sauder School of Business. The UBC Portfolio Management Foundation would not enjoy the success it has attained, and is still achieving after 25 years, without Prof. Loffmark’s vital input and expertise. His gift lives on.

New online directory helps alumni leverage their common bond

SHARE YOUR NEWS Class Notes are easier than ever to submit. Simply fill out the online form at www.sauder.ubc. ca/alumni/classnotes

Become a Sauder School of Business alumni contact Be a contact for Sauder School of Business and fellow alumni in your city, country or region. Help counsel prospective students, advise new graduates, welcome summer interns and arrange alumni events. To volunteer, contact us today!

We can be reached at: Tel: 604-822-6801 Fax: 604-822-0592 e-mail: alumni@sauder.ubc.ca We always appreciate your feedback on events and programs in support of alumni activities.

A NEW, SECURE AND SEARCHABLE ONLINE GLOBAL ALUMNI DIRECTORY WILL MAKE IT EASIER

for alumni to identify, connect and support one another around the globe. “Emerging graduates and alumni have been asking for this for some time,” says Teresa Faulkner, Associate Director of Alumni Engagement. “It’s a great networking tool and testament to the success of our alumni. We’re excited to watch the Directory develop into a valuable resource for the entire alumni community as our alumni participate by logging in, updating and publishing their Directory profile.” The Directory lists every graduate with a UBC Senate-recognized degree or diploma, by name and degree. During the build phase, its “Full View” feature and search capabilities were restricted until November 2012. Alumni were encouraged to use this opportunity to complete and publish their professional profile before the Directory went live. The new Directory is accessible on the Sauder Global Alumni Network website at www.sauderalumni.ca and from all Sauder Business Club websites. ■

VIEWPOINTS FALL/WINTER 2012

REUNIONS BCom 1952 60th Reunion The BCom Class of 1952 celebrated their 60th reunion anniversary on May 25, 2012, with an afternoon full of activities. First, they gathered for tea and coffee at the Arbutus Club, then they visited the Sauder School of Business for a lovely tour of the renovated Henry Angus building. While the discussions were centered around the new space, alumni also had many questions about the current BCom program and facilities. The group then returned to the Arbutus Club for dinner. Special thank you to the event organizers: Al Galbraith, Bob Wadsworth and Betty Elworthy. Thank you to everyone who attended! ■

Top row, l to r: Jack Deveraux, Bill Gilroy,Lyle Johnson, Al Hunter, Jack Pearson, Bob Wadsworth, Ken Campbell, Peter Wilkinson, Bill Sparling, Art Guthrie. Front, seated, l to r: Diane Elworthy, Noreen Brown, Theo Bell-Irving, Noel Hall, Al Galbraith.

BCom 1956 56th Reunion

BCom 1992 20th Reunion The BCom class of 1992 celebrated their 20year reunion at V Lounge in Vancouver on May 5, 2012. Judging by the laughter and the conversations throughout the night, it seemed like it was only yesterday that this group all saw each other. Thanks to everyone who came out that night! And for those who were not able to attend, we all hope to see you at the next reunion. ■ 42

FALL/WINTER 2012 VIEWPOINTS

2012 Fall Reunions BCom 1987 The 25th reunion anniversary was held on October 11, 2012 at the Mainland Street Keg in Vancouver. BCom 1982 The 30th reunion anniversary was held on October 19, 2012 at Rogue Kitchen and Wet Bar in Vancouver. For more information, go to http://www.sauder.ubc. ca/Alumni/Reunions/Upcoming_Reunions.

The BCom Class of 1956 celebrated their 56th reunion anniversary on May 23, 2012, at the Terminal City Club with an informal lunch. The class has held reunions every five years since graduation, with the last reunion (55th) held last year. This year, they felt they weren’t seeing one another often enough, so they came up with a good reason to have a lunch that didn’t fall within the previous “five-year tradition”— recognizing the milestone of 56 years that have passed since the ’56 graduation! Seventeen grads attended this informal gathering. After a great lunch and plenty of conversation, the group decided that this may be a new annual tradition. Special thank you to the event organizers and to everyone who attended! ■

BCom 2002 10th Reunion Our BCom 2002 class successfully held our 10-year reunion on June 21, 2012. We enjoyed our no-pretense get together time at the Lions Pub at Terminal City Club. For those of your that remembered our FIFO* cruise party, you’ll appreciate that our reunion was rightfully named (by Wendy Chan) LIFO—Life Is Full Ofsurprises. It was a pleasure to see how everyone was doing after all these years. For those of you that wanted to attend, but sent your regrets— we missed you! Please stay in touch with us, and check out the event photos by joining our Facebook group: search “UBC Commerce Grad 2002.” We’re looking forward to celebrating our 15-year reunion!! *You’ll have to ask around to learn what FIFO meant... Special thank you to the event organizers: Michael Lee (CUS President 2002), Swan Lee (CUS Alumni Relations 2002), and Sharlene Cheu (Sauder Students, Young Alumni & Reunions Coordinator). ■

VIEWPOINTS FALL/WINTER 2012

POINTS OF VIEW

Leadership is doing the right thing Responsibility. Loyalty. Duty to family and community. Respect for authority. Collective behaviour. Timeless words, used to describe timeless leadership, and leaders we respect and emulate. In fact, many leaders do exemplify these qualities. Classic as these words are, however, they were used to describe the character of Nisei, second-generation Japanese-Canadians, six of whom enrolled in the fledgling UBC Department of Commerce in 1941 under the first head of the department, Ellis Morrow. ALONG WITH UBC PIONEER HENRY ANGUS,

of 1942, 22,000 had been evacuated from

trumped discrimination—despite the rejection

Dr. Morrow championed the rights and

coastal BC.

of many students of Japanese-Canadian

participation of a growing number of Nisei

Despite this turmoil, Dr. Morrow’s “boys”—

ancestry from post-secondary studies such as

students hoping for opportunities in business.

the UBC Commerce class of 1942—graduated,

accounting and law. Dr. Morrow continued to

At a time when other realms of work were

and all but one were able to do so in Vancouver.

open doors for his students, even as they left

actively practicing discrimination, Dr. Morrow

But with a stroke of Prime Minister Mackenzie

BC for Ontario and Quebec, and over the years,

fostered strong ties with the downtown business

King’s pen, the hopes of six promising business

his “investment” was repaid with success. They

community, and personally invested in the

graduates had disappeared along with their

landed at Harvard, in senior government and

placement of his graduates with respected firms.

families and their belongings.

corporate positions, and in entrepreneurial

Described by some as a “benevolent father” figure, he fussed and fretted, and was distressed when he lost touch with his “boys,” as he called them. While such mentorship might seem commonplace within a small school at the time, it’s important to remember the backdrop of the day. With the bombing of Pearl Harbour in 1941, and World War II in full swing, the Canadian government demanded the removal of

“As we study leaders and their impact in this issue of Viewpoints, we need look no further than the roots of the Sauder School of Business itself...” Ellis Morrow never gave up on his students;

all “enemy aliens” from coastal areas of British

he followed their struggles, and strongly

Columbia. Hastings Park in Vancouver was a first

supported their aspirations beyond menial

roundup destination; there, more than 4,000

work and internment camp life. In time, all

lived in makeshift tents before being moved to

the boys left the camps to seek a better life in

internment camps in the BC interior. By October

Eastern Canada, where, on occasion, opportunity

FALL/WINTER 2012 VIEWPOINTS

ventures. They lived lives that embodied their Nisei character. They did their mentor proud. All are gone now, including Ellis Morrow. But as we study leaders and their impact in this issue of Viewpoints, we need look no further than the roots of the Sauder School of Business itself, where the character of leaders, present and future, is sketched, and where a school’s commitment to doing what is right helps build the right leaders for our time. ■

Sheila Biggers ASSOCIATE DEAN, DEVELOPMENT AND ALUMNI ENGAGEMENT

ALUMNI IN FOCUS

Gain insight into fellow members of the alumni community

Jason Vander Zalm Degree and Grad Year: MBA 2007 Current home city: New Westminster, BC Professional ID: Co-founder and Vice President, Information Technology, Square One Insurance

Business motto or philosophy:

Greatest achievement to date:

Most listened to:

A Latin phrase I first heard from my high school

Raising three kids, building a house, and starting

Jack Johnson. After listening to him live

chemistry teacher has always stuck with me:

Square One Insurance all at the same time!

in Honolulu before he was famous, I was

“Luctor et emergo”—I struggle and I emerge!

hooked for life. Alter ego:

In business today, it’s important to…

MacGyver

understand the transformative power of IT,

Coming from a tech guy this answer will probably

and its ability to disrupt long-established

Greatest extravagance:

business models.

My impressive collection of power tools!

Most valuable thing learned since graduation:

Gadget of choice: be surprising—my router—a very versatile tool!

Building a house sure was a great excuse to

Your best-kept secret (what most people don’t

buy a lot of tools!

know about you):

While entrepreneurship might not bring

I’m the last person on earth who has never

immediate monetary rewards, the satisfaction

Person you admire most and why (living or

that comes from building something from scratch

historical figure):

and hearing customers rave about it is amazing!

Warren Buffett. His integrity, transparency, wit,

Favorite journey:

and self-deprecating humour make him the

Spending the night in a snow cave on Elk View

Eureka moment:

business leader I’d most like to emulate. (Never

Mountain every New Year’s Eve.

Watching Square One’s home insurance customer

mind the fact that his methods have proven to

referral program go viral via Facebook and

be pretty financially successful as well!)

Where will you be in 10 years?

way to build brand recognition—while it takes

Trait you admire most in others:

home insurance company that’s revolutionized

more effort, finding ways to leverage your

Determination

the industry (and saved consumers a ton of

If only I could split myself in two—helping run a

Twitter. Traditional marketing is a very expensive

customers’ social networks can be MUCH more cost effective. Biggest risk you’ve ever taken: Quitting my secure management job at a large insurer, and joining a classmate from the MBA program (Daniel Mirkovic) to start Square One Insurance.

owned an Apple product. Go Microsoft! ;-)

money), and building finely crafted timber frame Talent you would most like to have:

houses in my spare time! ■

To fly—maybe a bit odd since I’m actually kind of afraid of heights. Last book you couldn’t put down: The Hunger Games. (I almost hate to admit it, but I finally got around to reading it last week,

WANT TO BE PROFILED IN OUR ALUMNI IN FOCUS FEATURE? Please contact us at alumni@sauder. ubc.ca and we’ll be in touch.

and I stayed up till 1 a.m. to finish it.)

VIEWPOINTS FALL/WINTER 2012

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