Build the best degree for YOU from first year to graduation
Intro to Business: BU 111 before BU 111 Choosing a specialization Planning Ahead: How To Master Your Degree
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Contributions
PRESIDENT’S Letter Dear Reader,
President: Jeel Shah Editor-In-Chief: Pearl Leung Creative Director: Serena Pece Writers & Editors: Brittany Koornstra Jeel Shah Pearl Leung Henry Xu Rohit Mansukhani Graphic Designers: Karen Chow Serena Truong
You are about to embark on a journey that will, quite possibly, shape your character, form lifelong friendships and in effect, shape your life. When I first entered University, I was told that University was like a buffet, you should pick and choose what you like but also try things which you aren’t familiar with. A campus is one of the only places in the world where competing ideas can sit beside one another and not bicker endlessly, but have a meaningful conversation about what is true and what isn’t. Enter with an open heart (and mind) and take in, ideas based on their merit and not who says them. These are ideas that will change how you feel about the most controversial topics and will challenge your entire life view. This intellectual earthquake may seem dreadful and pointless but in fact, it’s the exact opposite; one must be a phoenix, reborn from the ideas of old into a composite of new ideas with different perspectives and different intentions. This, in effect, will be a shortcut to wisdom. After four years of your University career, you should leave with a general picture of what the world looks like and what you think about it. I hope the university experience is exactly what you expect and more.
Cover Photo: Serena Truong
Jeel Shah President
EDITOR’S Desk What I find the most liberating about being in university is that you effectively get a fresh start every four months. You get another chance to raise your GPA, another chance to apply for a position with a club or association, and another chance to build solid relationships with your peers and professors. In university, it’s okay to do poorly on a course or decide to switch specializations (or even majors). This is your time to experiment, explore, and find your passion. Once you enter the workforce, changing paths gets a lot more difficult. So, take advantage of your freedom to try new things and venture into different areas. Don’t be afraid to say “yes” to the opportunities that arise. You never know what you might like, and you never know where something can take you. When I was in first year, I had no idea what I wanted to specialize in or do after graduation, so I joined a plethora of clubs and eventually found my place in digital marketing. This issue of the Atrium is meant to arm you with the information you need to create your own BBA blueprint—a university experience that reflects who you are and what you want to achieve. We hope that you will find something useful within the pages of this magazine, whether your university journey is just beginning or coming to an end. So, dear reader, go out there and make your dreams come true. Step out of your comfort zone, challenge yourself, and find your place in the world. Say “yes” as often as you can, broaden your knowledge, and most importantly, follow your passion. Pearl Leung Editor-In-Chief
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Intro to Business
7 First Years 9
8 What I Wish I Knew Before Starting First Year
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Different Ways of Learning
Mythbusting New Venture Clubs Road Map Co-op: The (Not So) Be All and End All
15 Interview Tips
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Middle Years 17 4/Atrium Magazine Fall 2016
Choosing a Specialization: What’s Right For You
Final Years
Planning Ahead: How to Master Your Degree
19 21
So You Want To Be An Entrepreneur?
22 Moving On To Bigger and Better Things
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Starting university can be exciting and daunting. The following articles will answer your questions and alleviate your fears as you enter your first year at Laurier. 6/Atrium Magazine Fall 2016
INTRO TO BUSINESS: BU 111 BEFORE BU 111 “These basic terms and concepts will act as the base for your university education.” BY ROHIT MANSUKHANI
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aving sent in numerous university applications, written your last exam of high school, and accepted Laurier’s offer, it can be exhilarating to finally set foot on campus as a freshman. After all, you finally get to experience the freedom of living away from home, and are beginning four years of study that will shape you into an amazing businessperson. Hit the ground running by familiarizing yourself with these business terms and concepts.
firms often operate on a global scale and manage multiple brands, so interns can apply their knowledge to different products with different needs.
The first thing you’ll notice is that business is filled with acronyms. Although there are acronyms specific to each functional area, the most common ones are used to describe different businesses.
To make this easier, begin to build your personal brand, which is how others see you, including any images, ideas, or concepts you are associated with. Being able to easily identify who you are and what you stand for will help you when introducing yourself to potential employers.
NGO stands for non-governmental organization, and refers to any non-profit organization run by citizens. Contrarily, a Crown Corporation is owned and operated by the government. Think about your utilities and, of course, the LCBO. An MNC is a multinational corporation. As its name suggests, it is a company that operates in many countries, using “glocalization” to adapt its products to different markets. It is also the largest type of organization. Anything smaller than an MNC would count as an SME, or small-to-medium enterprise. Many accounting and finance students dream of securing a position at one of the Big Four accounting firms: EY, Deloitte, PwC, and KPMG. These prestigious companies are sure to offer their employees a range of experiences handling clients both big and small.
When pursuing a job at your dream company, you will need to build your network. You will soon find that getting high grades and participating in extracurriculars will get you considered for a position, but making connections will get you hired.
Then, go to networking events and job fairs and have memorable conversations with the people you meet. As you expand your network, you will be able to build more mutually beneficial relationships. You never know who might help you out in the future! If you present yourself to employers as responsible, knowledgeable, and capable, they will be more likely to hire you or refer you to another position. These basic terms and concepts will act as the base for your university education. Your business courses provide an overview of how a business operates, and you will continue to build your knowledge in more function-specific courses as you progress to upper years. But for now, you should be ready to tackle first year. Good luck!
On the other hand, marketing students might covet a position at a CPG, or Consumer Packaged Goods company, such as Unilever and Procter & Gamble. These
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DIFFERENT WAYS OF LEARNING “Learning is about experiencing a portion of the Universe which is completely unknown to us.” BY JEEL SHAH
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here is an excellent interview by Bill Moyers with Isaac Asimov, the prolific science fiction writer, about the wonders of learning. He explains in the interview that learning is about experiencing a portion of the Universe which is completely unknown to us. It is the fulfilling idea that one can look at an object, a painting, or watch an excellent movie and have an intimate understanding of it. How one achieves that understanding is completely up to them. There is a common philosophy which runs through all education much like a long thread through a large blanket. It is the idea of multiple intelligences and multiple learning styles. While the former has little empirical evidence, the latter has turned into a golem. While it is true that there are different methods to learning and people learn differently, it is important to note that not all methods are created equally. There are some methods which have been proven to be completely useless when it comes to long term retention. For example, a common method to learning is to simply highlight. The student will go through some text, highlight what they think is important and end the learning process there. However, this does not help long term retention at all. Another common method of learning is to only take notes and not review. There have been a number of studies done which indicate that simply taking notes is not enough to retain something over a long period of time. Learning is an impatient and unsatisfiable child that one has to continually try to win over. It’s simply not enough to hand them a chocolate and expect unquestioning obedience.
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Effective learning is about using the right tools to really understand something and apply it. A lot of the tools have to do with understanding our memory and what causes one to actually remember something. At a very basic level, memories are formed when multiple experiences are amalgamated to form a coherent picture of that experience. So, for example, if onewants to remember exactly what apple pie tastes like at McDonald’s then the best way to do that would be to capture the moment of consumption at a number of different levels. For instance, touching the pie, smelling it, looking at the surroundings of the time when you ate it, will make the memory of apple pie at McDonald’s much stronger. Another important aspect of learning is active recall. Memory is strengthened over time by constantly recalling it. As the old saying goes, “if you don’t use a skill, you’ll lose it.” This is absolutely true for retention. A great way to implement recall is to make use of flash cards. At first it may seem tedious to actually write out flash cards, but the benefits are two fold. Firstly, memories are forming and growing as one writes out each question and answer. Secondly, one can use the flashcards for active recall which further strengthens their memory of a particular topic. Learning, at the end of the day, is about understanding. It would be a great tragedy to pass through university and not take anything valuable. University, in some sense, is a shortcut to wisdom. It is one of the only places where it is abundant and freely accessible; to ignore this benefit for another one would be ignoble and quite possibly foolish.
W HAT I WISH I KNEW BEFORE STARTING FIRST YEAR “The transition to university can be both terrifying and exciting.”
BY BRITTANY KOORNSTRA
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ou did it! You survived four years of small lockers and cafeteria food fights, and now you’re wondering what the next four years will bring. The transition to university can be both terrifying and exciting - moving away from family and friends, but also getting the chance to discover who you are. No doubt there are hundreds of questions circling through your mind. Will you make new friends? What will res be like? Are the classes really that much harder? Thankfully, I’ve ‘blazed the trail’ for you, and havecome up with the top five things that I wish someone had told me before I started the next chapter of my life here at Laurier. 1. Use every resource available to you. It is extremely important to remember that you are not alone in terms of your academics in university. It is very easy to feel completely overwhelmed - balancing your academics, social life, and the general challenges that come with living on your own. There are many resources that are available to you from the school, including academic support and health and wellness services. The biggest resources at your disposal are your Professors and your TAs. Remember that they are there to help you! 2. Try new things. University is a time meant for discovering who you really are, and that is why it is so imperative that you try new things. You are truly in control of your life now and should not pay attention to what others think. I was so excited at the careers fair last year that I joined 20 clubs! From trying out each of them, I was able to find two that I love. Which leads me to my next point...
3. Put yourself out there. The first day of school, I walked up to one of my professors and introduced myself. While, granted, it was a bit of an awkward encounter, I was able to grow a relationship with that professor. She became someone I could go to for course content help and general advice. There have also been countless networking events run through clubs that I have made some incredible connections from. Networking is one of the most important things you can do in business, so don’t be afraid...you never know what could happen! 4. Your grades don’t define you. ...although it may seem like it, especially during midterms. It can seem as though all you do is study, study and study. It is so important to realize that (1) your grades do not define how wonderfully amazing of a person you are, and (2) that you can’t just spend your time studying. Make time for your friends, family, and most importantly, yourself. 5. Embrace change. The fact of the matter is, there is so much going on in university, it is truly impossible for it to not have some effect on your life. Whether it’s the way you study, your friend group, a sport you love to play or even discovering a new favourite hobby, it is crucial to understand that you will change. Know that this change is good, and will ultimately help you become who you are meant to be!
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MYTHBUSTING NEW VENTURE “New Venture is often met with a mix of emotions.”
BY HENRY XU
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erhaps one of the most daunting aspects of first year BBA, New Venture is often met with a mix of emotions. This year-long project is integral to BU111 and BU121, and encourages students to apply what they learn in class to their own business idea. As a freshman, you probably have lots of questions about New Venture. This article will dispel some myths about the project so you can walk into BU111 confident and worry-free! Myth: I won’t have any free time because of New Venture. Fact: New Venture will be the most time-consuming group project you will complete during your time at Laurier. With weekly group meetings and long nights spent perfecting your proposals and presentations before deadlines, it may seem like you’re spending all your time working on your imaginary business. However, just like any other long-term project, it will only eat up all your free time if you don’t manage your time effectively. In actuality, you’ll still be able to go to club meetings, relax at home, and, most importantly, do your readings and homework. In fact, if you and your group work effectively and have productive meetings, you might have more free time than expected! Myth: New Venture is the most difficult project in first year. Fact: New Venture exists not only to test students’ understanding of concepts, but also to challenge them to think critically and step into the shoes of an entrepreneur. Each component coincides with course content
such that you will never be asked to do something you haven’t learned yet. If there’s a concept you’re not comfortable with, the Teaching Assistants are also great sources of information and very willing to help. The difficulty comes from presenting your ideas in a way that demonstrates your knowledge and understanding of course concepts. As long as you are clear and detailed in your explanation, and actually put some thought into your business plan, you’ll ace the project. Myth: It can be done in one night. Fact: Even if you and your team were able to miraculously complete this 8-month project in 24 hours, the final product is unlikely to be up to par. New Venture spans the entire year for a reason. As you learn different strategies in class, you will be able to apply them to your business, shaping it into a sustainable, profitable venture. The group that procrastinates will end up spending a lot of time creating their business strategies and financials—precious time that could be spent writing or preparing for the final presentation. What’s more, coming up with a well-developed business plan is impossible to do in one night. For a successful business plan to come to fruition, it requires lots of thought, feedback, and multiple revisions. A rushed proposal will inevitably have flaws and weaknesses that a Teaching Assistant can easily identify, resulting in a poor grade. Nothing good will come out of trying to complete the entire project in one night, so make sure you and your team stay on top of your work during the year.
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You've settled into the university lifestyle. Now it's time to consider what's next and explore the structure of your future in business. 14/Atrium Magazine Fall 2016
CO-OP: THE (NOT SO) BE ALL AND END ALL “There is no use in doing something just because the opportunity is available.” BY JEEL SHAH
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f the hundreds of first year students that apply to co-op there are a number of them that don’t make the cut, for a number of reasons. There is a subset of students who don’t apply at all, some students don’t have the adequate GPA, and some students don’t perform as they hoped in their co-op interviews.
There is no use in doing something just because the opportunity is available. There are plenty of options available, always, which may be absolutely terrible. An evidence driven method of decision making has to be employed in order to make sure the time one spends is maximized as much as possible.
At such a moment, those who were hoping to get into co-op and don’t feel a sudden rush of dread as if all the innumerable dark clouds passing through Waterloo have decided to lay their eyes on them. The sun is suddenly out of sight and the first thought that comes to their mind is: what the heck am I going to do every summer?
The other option is to travel which at first may seem unlikely and infeasible but it may be easier than finding an internship!
While, the last line of questioning is reasonable, the feeling of dread and hopelessness is unfounded. Laurier is one of the only schools which offers the co-op option. This means the majority of university students across Ontario, including those at Queen’s and Western Ivey, have found other ways of spending their summers. The most obvious option is to find an internship. The co-op office provides a general job bank to which any student can apply. If those don’t look very appealing then the next step is to reach out to companies around Waterloo and Toronto to see if they are looking for any diligent and hardworking Golden Hawks. Some of these internships may be unpaid, and one has to be very careful about where they apply and who they decide to intern with. Since money is not a method of compensation in this case, one has to ask themselves “how much is my time worth?” followed up with “is the experience I am getting worth my time?”
There are a number of organizations on campus which facilitate international travel such as AIESEC. Through AIESEC one can find volunteer positions from all around the world and explore a specific country by volunteering to teach, for example. If one feels like being a vagabond, then a plane ticket and a reading of Vagabonding by Rolf Potts is all one needs. Travelling can be a perspective changing experience. By walking in the shoes of another person, one finds the ability to understand someone from across the globe. It gives the traveler the ability to see an issue from multiple angles and form a well rounded opinion on that basis. During travel it may not seem like much is happening but soon enough the complexity of the world beyond oneself begins to take shape and the idea that reality is less black and white and more grey doesn’t seem too far fetched. What one decides to do during their summer is entirely up to them and if one has the misguided notion that they have fallen behind then one must remember that life’s a marathon, not a sprint.
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CHOOSING A SPECIALIZATION: WHAT’S RIGHT FOR YOU? “This choice may seem daunting, but there is still plenty of time to figure out what you want to do.” BY PEARL LEUNG
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here are many emotions that may come with starting third year. Nervousness, as you prepare to tackle what is arguably the hardest year of the program. Excitement, as you finally get to delve deeper into certain subjects and experience others for the first time. And perhaps uneasiness, as you start thinking about the area in which you will specialize. By the end of third year, you will need to declare your concentration. This choice may seem daunting, but there is still plenty of time to figure out what you want to do. Among the ten concentrations the Laurier BBA program offers, Accounting, Finance, and Marketing are the most popular. They are less structured and allow students to explore the function-specific courses that interest them. For students who already know exactly what they want to do, there are more specific concentrations, such as Insurance and Risk Management, and Brand Communication. Furthermore, there are a few less well-known concentrations that deserve some recognition: The Business and Sustainability concentration is perfect for students who care about the triple bottom line, and want to advocate for corporate social responsibility. Students will explore strategies for sustainability and learn what it takes to become a social entrepreneur. Those who have always wanted to travel the world and work in a multinational company may enjoy the International Business concentration. In addition to taking courses that help students adopt a globally-minded
approach to business, these students will also take an international study tour where they can truly immerse themselves in another country’s business environment. Lastly, as a leader in innovation, Laurier’s BBA program would not be complete without an entrepreneurship option. Perfect for creative students who want to get into the startup scene, either as an entrepreneur or a consultant, these courses provide students with the tools to develop their business idea. When given so many attractive options, making a choice can be very difficult. The best way to figure out what you should pursue is to experiment and explore. Clubs and associations offer a hands-on approach, allowing students to try out different positions in different functional areas. Many of the second and third year courses also provide students with a survey of all the individual components of a subject in which one could delve deeper. Arming yourself with this experience and knowledge may help you make your choice. If you’re still feeling uneasy, remember that this decision is less about what you want to do for the rest of your life, and more about finding your passion. It’s okay to realize that you dislike what you’re doing and change direction in the future. You are not obligated to stay in one area forever--and as long as you choose a path that interests you, you will have made the right decision.
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Graduation is upon you and the realities of the working world are finally hitting you. Outlined in the following pages are your guide to plan your perfect future.
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PLANNING AHEAD: HOW TO MASTER YOUR DEGREE “Fearlessness at the face of challenges, is the heart of change.”
BY HENRY XU
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s the weather cools down and leaves start changing colour, students are returning to campus, ready to tackle another year of school. For some, this year will be their last. Next fall, they won’t be moving back to Waterloo. Instead, they will have begun the next chapter in their life-- working at their first full-time job, travelling the world, or further developing their skills and knowledge in graduate school. An MBA supplements a BBA by delving deeper into the topics covered in an undergraduate business degree and providing students with an integrated view of how a business is run. It teaches students how to approach problems with a holistic mindset, so that when problems arise in one department, they can see how it would affect the rest of the business. BBA students need not be concerned about repetition. At Laurier, the MBA program’s first term, the Integrated Core, is fast-paced, with the first month or so covering the general content BBA students would have learned in their undergrad. That said, it’s easy to see how an MBA gives graduates a leg up when applying for jobs. According to Holly Paterson, the Laurier MBA Recruitment and Marketing Coordinator, students and seasoned businesspeople alike are “coming back [and] constantly upgrading themselves so that they have the skill set and the credentials that employers are now looking for in order to secure those management and senior level positions.” Many students are unaware that they can apply for an MBA program right after completing their undergraduate degree. In addition to Laurier’s Full-Time MBA with Co-op program, MacMaster, Ryerson, and University
of Toronto’s Rotman School of Commerce offer MBA programs that do do not require candidates to have any work experience. Laurier’s 20-month program is composed of an Integrated Core term, where all students complete the same courses, two four-month paid co-op work terms, and two elective terms, where students can choose to complete a specialization. In the Integrated Core, students complete the eight business fundamental classes simultaneously, learning about each subject with respect to how it fits in with the others. Laurier accepts 40 students into its MBA with Co-op program every year. They are combined with the FullTime MBA students, who have around 3-5 years of work experience; then divided into 2 classes of 50 students. With these small class sizes, students will be able to build solid relationships with their peers and professors. Furthermore, students have the option to specialize in one of 11 areas, allowing them to truly customize their degree. The most popular specialization is Innovation & Entrepreneurship, which is great for those who want to become consultants for startups, or budding entrepreneurs themselves. These students can also apply to Laurier LaunchPad. By the end of the 20 months, students will have completed another chapter in their life. Armed with new knowledge, diverse experiences, and an updated skill set, they will be prepared to turn the page and tackle whatever life brings them next.
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SO YOU WANT TO BE AN ENTREPRENEUR? “A lot of blood, sweat, and tears must go into a venture before it gets off the ground and starts returning profits.” BY PEARL LEUNG
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here is a certain appeal to starting your own business. The thrill and pride that comes from watching your idea—a purely theoretical, intangible concept—come to life is incomparable. The entrepreneurial spirit runs through Kitchener-Waterloo’s veins. Startup hubs like Communitech and the Accelerator Centre are strong presences in the city, and many fruitful ventures have graduated from their programs. It is, then, fitting that Laurier instills that same entrepreneurial spirit in their students. It’s not difficult to find someone on campus who dreams of running the next Meal in a Jar or Shopify. Of course, becoming a successful entrepreneur is nothing but easy. A lot of blood, sweat, and tears must go into a venture before it gets off the ground and starts returning profits. The Lazaridis School offers a plethora of resources for aspiring entrepreneurs. Students can learn business essentials and develop their idea in the entrepreneurship core. They can then apply to Laurier LaunchPad, where they’ll receive support, mentorship, and additional funding to grow their business. Now is also the time to start building a strong network. “Don’t forget to ask for help,” advises Joanne Benham Rennick, the Director of the Schlegel Centre for Entrepreneurship and Social Innovation. “Lots of people are interested in supporting you.” However, be sure to return the favour! Any healthy relationship is built on an equal amount of give and take. Despite having all these resources, success can still be far from reach.
“I guarantee you will fail,” says Rennick. “And then, I guarantee you will learn. When you’ve learned the key things you need, then you will succeed.” As such, the number one quality an entrepreneur will need is tenacity. This is the ability to stick it out through setbacks, the ability to overcome countless challenges, the ability to hit one low after another and still keep striving toward a goal. That said, entrepreneurs cannot live on tenacity alone. “Really successful entrepreneurs need a lot of different skills,” says Rennick. “They know all aspects of their business, but they especially have to know how to build a team, communicate effectively, accept failure as a precursor to success, and leverage their networks.” Self-awareness is also a huge asset. Entrepreneurs need to know what they don’t know, and ask for help—whether this means hiring someone who can fill in the gaps, or meeting with a mentor. Lastly, amassing diverse experiences can give entrepreneurs perspective and act as sources of inspiration. It is also through these experiences that entrepreneurs can develop a skill set that satisfies the needs of their venture. Entrepreneurship has become one of the most popular career paths for youth. This generation has identified problems, and is trying to fix them to make the world a better place. For those who still aren’t sure if this path is right for them, Rennick has one last piece of advice: “Why not give a great idea a chance to stand on its own? Why not try out your ideas, identify your skills gaps and your strengths, and work with other great people to build something you love? Try it.”
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