BACK TO SCHO OL ISSUE + survival tips + professor bios + clubs to join + upcoming events & MORE!
Aaron Marchadour this year's mind behind BUS 201
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MBER E T P E S S I Y O APPL
C O N T R I B U TO R S Editor in Chief RACHEL LEE Content Editors TAYLOR BANISTER LOUIS LIU Writers ELNUR KASUMOV CAITLIN HALL CARISSA THAM FELICIA LIANG ROSHNI PARHAR GABRIEL NUNEZ KAWTHARA SHIRE JAMES LO EILEEN LEE EXTERNAL
MEET THE NEW DEAN LF interviews Dr. Joseph Doucet on his appointment
EXTROVERTS VS. INTROVERTS How each will benefit when it comes to networking
AARON MARCHADOUR LF interviews the new BUS 201 coordinator of 2013
CIBC RUN FOR THE CURE Raphael Mlynarski on an opportunity that has us flying high
CLUB LIFE Opportunities for involvement around the School of Business
INFORMATION: PRIVACY VS. TOOL Opposing perspectives on the Snowden controversy
DESIGN Art Director ASHLEY TRUONG Senior Designer LINNEA LAPP Designers MICHAEL BAKER COLLEEN DO SHIRLEY DU EILEEN LEE CHRISTINA STEFANIUK DAVID TON-LAI BONNIE TRUONG JENNY TRUONG JENNY WANG Photographers DAVID HE FELICIA LIANG ELLA LIN ASHLEY TRUONG Online Director WILSON HUI
R E L AT I O N S
P RO D U C T I O N Sponsored by XEROX CANADA Special Thanks to DIANA WYLEY Contact us UOFALAZYFAIRE @gmail.com
TASTE: THE OPPORTUNITY Your chance to Network and Eat…at the same time!
BUSINESS LANGUAGE A Survival Guide for must know Business Lingo
THE WHEN & WHERE Find the details you need about September’s Events
FIRST YEAR JITTERS From the perspective of this year’s freshmen
MEET YOUR PROFFESSORS The School of Business in a different perspective
THE COMPREHENSIVE SURVIVAL GUIDE FOR BUSINESS STUDENTS
M 2 LABOUR DAY
SEPTEMBER T 3
FIRST DAY OF CLASS
WEEK OF WELCOME (SU) see the full schedule at www.su.ualberta.ca CLUBS FAIR (SU) with Students’ Union’s Week of Welcome (Quad) BSA CLUBS FAIR ( Business Quad)
LAST DAY TO APPLY w/ US!
BSA BOOKSALE BSA IGNITE
30 TUITION FEES DUE
COURSE ADD/DROP DEADLINE
FINANCIAL CALCU (BFA)
AMAZING RACE (UAAC - CA)
ENACTUS INFO SESH
UACC - CA DINNER
JDC WEST ATHLETIC TRYOUTS
JDC WEST SOCIAL TRYOUTS
GRAFFITI PUB NIGHT (UAMA)
GOLF TOURNEY (BSA; 22nd)
SPEAKER NIGHT (BFA)
HALL PARTY (BSA)
THE ALBERTA ENERGY CHALLENGE
21/22 ENERGIZE CONFERENCE (BSA; 21st)
N O T E
FIND MOR E INF THE M O ON AGAZ INE, INVO EXPL LVEM ORE ENT O TIES PPOR OR R TUNIEAD VERS THE O ION O NLIN F OU E R MA ON O GAZIN UR PA E GE: FACE BOOK .COM / LAZY FAIRE
It’s that dreaded (or embraced) back-to-school time again – the one that’s filled with the smell of excitement, fear and anticipation. As the Lazy Faire’s new Editor-in-Chief, I welcome all familiar and unfamiliar faces to the School of Business. Whether you are a newcomer or a veteran to this faculty, each year holds different opportunities, experiences and skills. This year’s Lazy Faire issues will strive to capture all of these opportunities and information you need to know as a business student. Brought to you BY business students FOR business students, the Lazy Faire team will cover everything from informative tips to pure entertainment. Throughout this year you can look forward to our recurring articles that will cover the basics of the School of Business, as well as unique and creative articles that will surprise you each month. Some of you will remember our regular features such as Student Spotlight, featuring outstanding business students each month; Community Centre, focusing on nonprofit activities intended for the community; and Club’s Corner, highlighting interesting student clubs. In addition to these regular features, we will be introducing new features to broaden and deepen our scope of coverage. In External Relations we will be interviewing established business professionals such as the Dean, CEO of ATB Financial and the President of ATCO I-Tek. The Networking articles will tackle the crucial yet dreaded networking monster to make it manageable, even for the shy students. Finally in the Debate articles, you will see two of our writers light their passion on a given topic, softly but brutally taking arms to different sides of the arguments. Start the busy month of September year by letting Lazy Faire guide you in your adventure as a business student. Let’s enjoy and make the most of this year, with all its challenges and opportunities.
BEST WISHES, RACHEL LEE
designed by ASHLEY TRUONG photographed by ELLA LIN
W H A T ’ S
U P written by GABRIEL NUNEZ designed & illustrated by LINNEA LAPP
avg. # of students majors offered by the Alberta School of Business in each cohort
what are you passionate about? can you make a living from it? go for it! – Sir Richard Branson, Founder of Virgin @richardbranson
40% 1916 % of SoB students have an ACCTG Major
Faculty of Business was first established
consecutive years Cohort 4 has won the Cohort Cup
days between the start of Fall Term & end of Winter Term
“Personally, getting involved has helped me practice my time management, analytical, and interpersonal skills through participation in case competitions and the BSA. Involvement makes University meaningful, builds relationships, and highlights you to future employers.” Jonathan Nisar, 2nd year SoB Accounting major
“The best advice I ever received was if someone asks you to go for a drink, always go. You never know where that one connection is going to lead you.” Melissa Ogletree, 2nd year SoB Marketing major
“A degree and a solid GPA no longer provide the degree of differentiation as it has in the past.” Mark Wang, 3rd year SoB Finance major
congrats @josephdoucet on being named Dean of @UAlberta SchoolofBiz— fantastic news for @UofA_Alumni & students – Jared Smith President of Incite Marketing @jaredatincite
“Getting involved in the School of Business is not only a great way to meet new people, but a great way to develop practical skills outside of the classroom. It’s a way to informally work with other students, connect with external contacts, and develop skills. I found getting involved helped me stay motivated throughout the year!” Katrina Colbert, 2nd year SoB Accounting major
R E L AT I O N S
It is official! As of July 1st, Dr. Joseph Doucet has been named the Dean of the Alberta School of Business. Over the past 13 years at the School of Business, Dean Doucet has made many contributions, including the fostering of the NREE (Natural Resources, Energy, and Environment) major, as well as overseeing the introduction of the Certificate in Leadership. He started his academic career at the University of Ottawa, later earning both his Master’s Degree, and Ph.D. at the University of California – Berkeley, in Operations Research.
Meet the new Dean:
For our first issue of the year, the Lazy Faire had the honour of interviewing this prestigious figure, gaining insight into the importance of energy policy in the province of Alberta, leadership, as well as his goals as the Dean.
Dr. Joseph Doucet
written by EILEEN LEE designed by COLLEEN DO & ASHLEY TRUONG photo courtesy of BACKSTREETMANIA; JOHN ULAN
Lazy Faire: Why should business students be
created Certificate of Leadership which allows
for their career - students must take what
more able in the energy sector, and what steps
us to highlight the importance of leadership,
they’ve learned at the SoB and apply that in
are the School of Business taking to
and bring leadership issues and challenges into
the best way possible to manifest the school’s
have students more involved?
classroom teaching. Also, we have put more of
vision - “Leaders from Alberta for the World”.
Dean Doucet: The bottom line is the energy resource sectors are very important throughout Canada, especially in Alberta. Many areas of business deal directly or indirectly with the energy sector. Students going through business school will most likely have some kind of a connection in their career with the energy sector. Therefore it is important that everyone is more aware of its significance in the economy, investments, and its effects on job creation and government
an emphasis on the experiences gained through the involvement in clubs, case competitions, and meeting other business leaders. These contribute to the overall environment provided. For applied research, we have put more effort in terms of connecting research to the areas of application such as in industry, firm strategy, government policy, and learning in the classroom. Our goal is take full advantage of this research for the school and the students.
policy. In that sense it is really valuable for
LF: What do you think is the most im-
everyone to be aware of the sector, including
portant takeaway that students should
what it means, and what it does for Canada.
leave with after completing their aca-
LF: How do you plan on achieving your
demic career at the School of Business?
vision of promoting leadership, and in-
DD: If there was one thing students had to take
creasing the School of Business’ posi-
away, it would be to strive to be excellent and
tion in terms of sharing its research?
to look to open doors for opportunities. The
DD: In terms of leadership, there is a newly
SoB provides many opportunities for students,
LF: What are some key traits students coming out of the School of Business should have if they want to pursue leadership positions? DD: Students have to be motivated, engaged, good communicators, have a good sense of ethics, have a mastery of the skills of their basic disciplines, as well as general business knowledge. That being said, it is also the drive and determination that students possess, and that the SoB helps to develop over time, which will help these students in leadership positions. The Lazy Faire would like to thank Dean Doucet for taking the time from his travels to have a phone interview with us. It was a pleasure to hear his insight and goals for the SoB, and will be exciting to see the continued growth of our faculty.
but ultimately each individual is responsible
Extroverts vs. Introverts
I N S M A R T S
PR OF E S SION A L
PERSONALITY matters in networking
Extroverts and introverts have different
A shy or anti-social person may avoid
working situations, an extrovert is assertive
strengths and weaknesses, and inevi-
social situations, but introverts appreciate
and straight-forward when speaking out
tably require different sets of network-
more meaningful social situations. As Su-
while an introvert may listen, think and
ing advice. Contrary to popular belief,
san Cain, author of the non-fiction book
focus more on building relationships that
extroversion is not a requirement in
Quiet: The Power of Introverts (2012) aptly
are meaningful to them. (Cain, 2012, p11)
networking—introverts can excel in net-
puts, “introverts have a preference for a
working just as much! Another common
quiet, more minimally stimulating
misconception is that introverts are shy
environment” (p. 10). On the other hand,
extroverts thrive on stimulation. In net-
Focus on your strengths. As an introvert myself, I find this extremely useful. Instead of going against your inherent personality, try focusing on your strengths, such as listening and thinking. Ask meaningful questions. This gives you the opportunity to do what you do best – listen closely, think deeply, and ask thoughtful questions. Many people will enjoy sharing their expertise with you and you’ll find yourself more at ease.
Overcome negative self-talk. This goes hand-in-hand with focusing on your strengths, and is especially critical in a world that undermines introversion. This may be easier said than done, and does not only apply to networking. Although the concept is rather abstract and there is no hard-and-fast rule to overcoming negative self-talk, every introvert has a unique way of eventually learning to be comfortable with their introversion.
Be prepared by setting goals. Preparing for networking events immediately brings business cards and resumes to mind. While the two are important, you’ll have a more fruitful networking experience when you set goals beforehand. For example, maybe you’d like to get to know at least two people who work in product marketing and corporate marketing respectively to compare differences between the similar positions. With set goals, you will be surer of yourself and solidify your confidence.
Be clear about your purpose. This is closely linked to point three. A common misconception is that the more business cards you’ve exchanged, the more successful you are at networking events. This might not be the most welcoming idea to introverts. However, Susan Cain could not have put it better in her Manifesto - “Rule of thumb for networking events: one genuine new relationship is worth a fistful of business cards.” While exchanging business cards is fundamental in any networking event, when you have clear goals, you’ll spend more time trying to build more meaningful professional relationships.
Practice. No, I’m not talking about talking to imaginary people in front of the mirror. But as with everything, practice makes perfect. The more networking events you actively participate in, the sooner you’ll master the necessary small talk. written by CARISSA THAM designed by MICHAEL BAKER
References The School of Business’ very own Julia Rudolf! Cain, Susan. (2012). Quiet: The Power of Introverts in a World that Can’t Stop Talking. New York: Broadway Paperbacks. Herndon, M. (July 31 2013). Making Connections: Networking Tips for Extroverts. Retrieved from http://www.blogging4jobs.com/business/ Herndon, M. (July 22 2013). Being a Pretend-extrovert: Networking Tips for Introverts. Retrieved from http://www.blogging4jobs.com/business/
NE T WOR K I N G
Rule of Thumb for networking events:
“one genuine new relationship is worth a fistful of business cards.”
Think more before speaking, and listen more closely. Extroverts have no trouble being straight forward and being assertive, and while these traits are widely appreciated elsewhere, in professional networking this may not work to your favor. Try to give the other person your full attention and time to complete what they’re saying. In return you’ll have the chance to learn a lot more.
Be more focused by setting goals. It’s easy for extroverts to get carried away with the buzz around them in networking events. After all, they thrive on high levels of stimulation. However, a clear set of goals can help extroverts stay on course and use their time effectively. Your goals may be no different from that of an introvert, but the same set of goals helps extroverts and introverts very differently.
Follow up. Extroverts may be extremely successful in exchanging business cards with many people and handing out resumes. However, business cards are merely a piece of paper without properly establishing the connection by following up. An introvert may already be attuned to following up in writing to the few new contacts that are of value to them, while extroverts may need to make it a point to choose and follow up with new contacts that are meaningful to them.
THE THE OPPORTUNITY OPPORTUNITY written by TAYLOR BANISTER
to make sure I had my questions down pat! After
put me in a network that was filled with amazing SoB
designed by ASHLEY TRUONG
last minute review, I looked up and saw him enter-
students and industry professionals alike, something
photographed by ASHLEY TRUONG
ing the restaurant. He was having a hard time get-
that could propel me to have the most enjoyable
ting to our table, as he was being pulled aside by
year of my life. For me, that something was TASTE.
Coming into my first year in the Alberta School
various people he knew at the restaurant, continu-
of Business, I knew there would be a myriad of
ously networking before finally arriving. After or-
With over 70 mentors in the TASTE program this
clubs, events, conferences, and programs to ap-
dering, I went straight into my questions, trying
year, spanning from numerous backgrounds, industries, and specialties, TASTE offers a great diver-
ply for. Although I wasn’t one hundred percent sure I knew which opportunities to take on, I can clearly remember sitting in the Winspear Library thinking to myself that I really wanted to try something different. Then, I heard about TASTE. The Take a Student to Eat (TASTE) program was something that really caught my eye, a program that could give me the opportunity to have lunch with an industry professional in a focused one on one set-
I just thought to myself — I am so lucky to be sitting in this seat.
experiences they’d encountered, and the potential advice they would have for the numerous challeng-
such a big success in fact, that it received the Canadian Business Students’ Association New Initiative of the Year award for the 2012/2013 school year. This year, the program will be directed by Melissa Ogletree (firstname.lastname@example.org) and Kristiann McCool (email@example.com) from the Business Students’ Association. Two TASTE sessions will be held, one in the Fall and one during Winter term. Applications for the Fall session will be due Septem-
ting. I was excited about the possibility of hearing the many ups and downs of their careers, the unique
sity of individuals to meet. The program has been
to ask as many questions as I could in the hour or
ber 30th, with successful applicants being matched
so we had for lunch. We discussed the accounting
with their respective mentors in mid-October.
profession, the big four CA firms, articulating strategies, the CA designation, the various large financial
I was ecstatic to be part of TASTE last year, and hope
centres in North America to practice in, the Cayman
that every student in the SoB truly considers apply-
After being accepted into the TASTE program
Islands, as well as the global network he had estab-
ing this year, continuing the steady growth of the
along with about 70 of my fellow students, I was
lished, among other topics. As our lunch was com-
program in the pursuit to make this year even bet-
thrilled to have been matched up with Brendan Ho-
ing to end, I had learned from so many of his unique
ter than the last. I truly believe that TASTE has be-
bal; a Chartered Accountant, and Partner at Price-
experiences in life and listened to some of the in-
come one of the signature programs in the SoB, and
waterhouse Coopers. After a few emails back and
valuable advice he had given me.
hope that all business students involved in TASTE
es faced in life. Immediately I applied for TASTE.
will be provided with one of the best experiences
forth, we eventually decided on meeting for lunch downtown at Hundred Bar & Kitchen. I remem-
As a new school year commences, I can reflect on
ber arriving at Hundred, about 10 minutes early
that day I sat in the Winspear, wanting to be part of
just to be safe, pulling out my list of questions that
something unique, something that could open nu-
I had written before he had arrived in the attempt
merous opportunities for me, something that could
of their University career – just as it was for me. pictured: Sumira Duggal, Talent Attraction Specialist from Grant Thornton & Melissa Ogletree, an external event director with the BSA.
When & Where written by ROSHNI PARHAR designed by EILEEN LEE
IGNITE Hello all first year Business students! Are you ready for Ignite? The most entertaining and fun first year event is back and better than ever. This year, Ignite will be held over two days, from September 13th-15th. Ninety first year students will be off for a weekend filled with fun, food, networking, and the chance get some advice from fellow Business students. You can participate in case competitions, elevator pitches, and chat with various groups of experienced students who can take any questions you have about your first year. You will also get a first hand guide through many of the clubs Business has to offer, and the benefits of joining. Take the opportunity to establish new friendships, learn some invaluable advice for your first year, and build your network within the School of Business. Spots fill up fast, so signing up early will increase your chances of being part of Ignite!
ENERGIZE Electrify your SoB experience by attending the Energize conference! On September 21, you can meet numerous business professionals, who once upon a time, started in the same position as you. Hear about the vast experiences each of these professionals, the important things they learned in their University career, and any advice they might have for you. The Energize conference is an ideal way to gain one on one networking experience by meeting fellow students, as well as business professionals from numerous industries. Donâ€™t miss the BSAâ€™s largest conference; the experience will be unforgettable!
BSA BOOK SALE Are you tired of buying new textbooks every year? Why not check out the BSA Book Sale? This unique book sale allows SoB students to buy and sell their used textbooks for reasonable prices. With note packages and textbooks being brought in every day, getting a discount textbook in any course will be easy! Come join the BSA in the Business Atrium and find what youâ€™re looking for in the first few weeks of classes.
CLUBS FAIR Getting involved is hugely important in enhancing your SoB experience throughout your degree, with September being the perfect time to start thinking about which clubs you can be a part of. Come visit Clubs Fair during the first week of September to see the extensive portfolio of clubs the Alberta School of Business has to offer. Join a club or two, meet great groups of people, and experience the SoB! The Club's Fair is located in Business Quad, right in front of the Business building.
BSA GOLF TOURNAMENT This year marks the first BSA Golf Tournament at the Alberta School of Business! On September 22th, you will have the opportunity to show off your athletic golf prowess at the Jagare Ridge Golf Club. This will be your chance to spend the day casually playing a Texas scramble format while impressing individuals from the corporate world! Come out for a chance to win some prizes, learn more about the business world, and have some fun out at the golf course.
COHORTS Ready to make use of that competitive drive that makes you so well suited for business? If so, make sure to represent your cohort at the Cohort Olympics! Getting together as first year students and coming out to cohort events will increase your probability of winning the highly touted Cohort Cup. With the winning cohort receiving full bragging rights for many years to come, you can't let that Cohort Cup pass through your fingers!
written by ELNUR KASUMOV designed by ASHLEY TRUONG & JENNY TRUONG photographed by ASHLEY TRUONG
The Lazy Faire aims to feature one Alberta School of Business student every month in a special article we like to call the Student Spotlight. This regular feature showcases exceptional current students in order to highlight the various accomplishments and achievements that emerge from the Alberta School of Business. For the month of September, we have selected Aaron Marchadour, BUS 201 Course-Coordinator, Case aficionado, and team environment guru. Aaron is set to graduate this coming April, after a decorated SoB career and network. I was surprised when Aaron told me that he initially came to the SoB determined to get through University as soon as possible, not having any interest in assuming extra responsibilities or looking for new friends. However, after attending Ignite (known as Frosh at the time) during his first week in the SoB, his entire University career changed…and he never looked back. Aaron recalls being assigned to his BUS 201 team at Ignite, meeting lots of “new cool people” whom he still calls good friends today. Soon after that first week, there was no stopping this very approachable, sharp-dressed, social Saskatchewan born.
Only weeks after Ignite had passed, he became a cohort captain, escalating his network as well as desire to become even more involved. Later he became a BSA director, BUS 201 Seminar leader (coincidentally grading my own 201 presentation), V.P. Academic of BSA, U of A appeal board member, and a tough rival in countless case competitions. All of this vast experience eventually led to the position he currently holds – BUS 201 Coordinator. I asked Aaron to share some of the insights and advice that he has accumulated over his SoB experience. Here is what he had to say:
ON BUILDING THE PERFECT TEAM:
O N T H E P E R F E C T P R E S E N TAT I O N :
Don’t talk business right away. When putting together a new team,
Expect the Unexpected! Keep an open mind when working on a
it’s important to share your interests and figure out each other’s
case or presentation. Always think to yourself - what is the main
strengths and weaknesses. Sitting down for a coffee and talking is
message you want people to get out of this. Worry only about
important; Remedy Café is my personal favorite location to meet.
things you can control, and handle things as they come up. There
It’s important that every member of the group speaks up during
are a few pillars I believe are imperative to a successful presentation:
group discussions. That being said, it’s important to be a good listener, open to other people’s ideas, always paying attention to the discussion at hand, so you can figure out where other people are coming from. If you do this right, your team can become as tight as the 55 person family I was part of, while preparing for the JDC West 2013 case competition.
O N C O O P E R AT I N G W I T H T E A M M AT E S : Usually, if you command attention, people will listen. At the same time however, you don’t want to be the Diva. When conflicts arise in group situations, I try to follow a few key points:
åå Hear people out, let them have their say. åå If you disagree, present your idea as an alternative, rather than an opposing view. åå Look at yourself frankly—are you being closed minded? Reflect and internalize. åå When issues persist, take it to a private discussion. åå Challenges will arise; you have to deal with it. That’s life. åå You have to be the bigger person! And you need to be able to work with all kinds of people. A lot of interview questions in industry will
å å ENERGY— smile, be positive, be excited! Energy will make you more engaging and will attract your audience’s attention. å å PRACTICE — sweat it out. Practicing will dictate your timetable and get the whole team familiarized with your challenge; not to mention each member’s presentation style. å å INDIVIDUALITY — do not lose your unique qualities - use them to differentiate yourself. A good example would be using hand gestures as you speak. Utilize your strengths to get people to buy into you, and your message. å å ATTENTION — make sure people are listening! Command the room. å å CONSIDERATION — know how to present yourself well, when to speak professionally and when not to. å å ALIGNMENT — don’t disagree with the people you are working with. Even outside the SoB, misalignment ruins the integrity of your message.
come from experiences you have in BUS 201.
What to Take Away from BUS 201? Learn how to influence other people and how to handle things you can’t control. I used to think I had to do everything myself, very hands-on. Now I know how to delegate and make sure people do the things you assign them to complete. Aaron was very approachable in our interview, and truly showed his successful and decorated career in both a personal and professional light. Aaron gave the Lazy Faire great insights and advice from his multitude of SoB experiences, and made it easy to see for all SoB students why his exceptional University career has put him in our Student Spotlight.
Meet your Professors Angela Karwal - SMO As an alumni of the Alberta School of Business, what sort of activities or clubs did you join in university and how did you find your experience? I had a really good experience with the School of Business and the Bachelor of Commerce program. I actually started in the Co-op Program, and did the 12 month work experience which was beneficial in helping me secure a permanent job with the government when I was done school. It also gave me an opportunity to gain technical skills and apply my knowledge from my courses. In regards to activities, I participated in the HR club, made sure to be part of the networking events held for students, and finally in first year I was always involved with my cohort team. SMO can be very beneficial for any group work. BUS 201, taken by all the first year students in the fall semester, requires students to work in (arguably) one of the most challenging group settings. How would you suggest that these students approach their BUS 201 groups from a SMO perspective? I would say the best thing is take the opportunity to learn more about your team members. Establish logistics: what are good times to meet? What’s the best form of communication? Also find out what each team member is interested in or area of expertise, you can use each other’s skills to help you do better as a team.
Patricia Stringer - ACCTG What sort of characteristics in a graduate makes a successful candidate for a position in accounting? In accounting you are usually required to be responsible for confidential and sensitive areas of a company-for example payroll. It is important that if someone is considering accounting as a career they are trustworthy, ethical and able to keep items confidential. This can sometimes be very difficult as you are unable to discuss certain items with family or friends-even though they may want you to. Payroll is usually a sensitive area and it may be disconcerting to know what others earn (including bonuses). Other attributes are attention to detail, research abilities, ability to explain things to others and computer skills. What advice would you give to someone who is struggling in accounting? If someone is struggling in financial accounting, reading the textbook can help. I realize the textbooks aren’t the most exciting reading, but doing problems and referring to the textbook readings can really help. Doing the problems in the textbook and maybe even doing them in an accounting package (like Simply Accounting, now called Sage 50). I usually equate accounting courses to math courses-reading the material doesn’t usually help; doing the problems and many of them (without looking at the solutions) can really help. This holds true for management accounting, although sometimes logic or understanding the situation can assist in solving the problem. You have to imagine yourself working for the company and that company’s surroundings, location, business practices, etc. This can be difficult in many textbook problems as they are based on manufacturing operations. Sometimes it is best to try to relate it to something you know-University, a business you have worked at, a restaurant you visited, etc.
It’s a new school year, which means there are fresh 1st year students joining us here at the Alberta School of Business. We all remember what first year was like: a unique, challenging and enriching experience that we all go through in a relatively short period of time. We grow, learn, make decisions and gain skills that help shape the course of our lives. This year we wanted to speak with people who’ve gone through similar experiences and can provide an interesting perspective, our professors!
Mathew Grimes - SMO Corporate social responsibility is one of the key concepts that is first introduced to students when they begin at the School of Business. As it’s also one of your teaching interests, why do you think it’s such an important concept? The most important thing about CSR, in my opinion, is that it forces CEOs, managers, and entrepreneurs to wrestle with the core nature of the corporation. As an organization/corporation is a collection of individuals working together to create something valuable for society, CSR is merely as extension of this. The odd thing from my vantage point is that over the past 40 yrs, the conversation surrounding CSR has largely been to justify the associated actions as worthy pursuits of corporations. I’m of the opinion that CSR should be at the heart of each and every business model, and alternatively that the actions that must be justified are instead the activities of business that are not socially responsible. You’re teaching a new course in Fall called SMO 488 -Starting A Social Venture. How important is it for business students to be aware of social issues that surround us, such as poverty, education and environmental sustainability? The 20th century represented a time of unprecedented economic and technological advancement. These accomplishments are worthy of celebration. However, as we celebrate, we often all too easily overlook the growing disparities in our global society. Poverty, health, education, environmental justice, economic mobility, gender/sexual equality, access to jobs, and the list goes on. Is the market a site of exclusion or is it a site of opportunity? If we agree that it can and should be a site of opportunity then how do we build businesses that ensure that reality? These are complex questions and I don’t presume to have all of the answers, but I know that commerce can be a powerful source of transformation and revitalization in society, and playing a part in this transformation is not as difficult as some might imagine. So the question I would have for all of the idealistic incoming business school students is, “How are you going to use the business skills you learn over the next few years to make the world a better place?” I would encourage everyone to hurry up and enroll in my class!
Sanjay Banergee- ACCTG Accounting is one of the largest chosen fields of study at the School of Business. What kind of things would you tell students to look for in themselves to know that they are right for that major? I think a student should have a flare for business or economics. They should also be comfortable and enjoy working with numbers. You should be self- motivated, because our job may not be as flashy but what we do is important. There is the misconception that it’s boring but you can actually be exposed to a large variety of industries and problems that need solving. You actually obtained a Ph.D. in Accounting-can you tell us a little about the research you’re interested in? I am very much interested in the economic consequences of accounting standards, regulations and rules. How does it affect company shareholders? How does it affect potential investors? How do particular regulations affect creditors who give loans to businesses? I am also interested in the cost of more disclosure in accounting. written by KAWTHARA SHIRE designed by SHIRLEY DU photographs courtesy of the SCHOOL OF BUSINESS
“How are you going to use the business skills you learn over the next few years to make the world a better place?” 15
C E N T R E
CIBC RUN FOR THE CURE written by FELLY LIANG designed by ASHLEY TRUONG photographed by ASHLEY TRUONG & FELICIA LIANG
Every year, thousands of people across Canada gather in their communities for CIBC’s Run for the Cure and strive for a common goal: to raise awareness and show their support in the fight against breast cancer. This year, on Sunday, October 6th, roughly 10,000 participants will gather in Sir Winston Churchill Square to participate in the run. We strongly encourage you to participate, as every contribution takes us one step closer to a future without breast cancer. Whether you walk or run, take the 1k or 5k route, or make a simple donation; your contributions are appreciated and truly make a difference.
What is the purpose of
decided to return as
join a team and give
the CIBC Run?
the Team Captain,
back to the community
RAPHAEL: The Run
while representing the
for the Cure is run by
ties include recruiting
School of Business.
the Canadian Breast
Cancer Foundation in
the Run, and planning
order to raise aware-
fundraising events. I
ness and funding for
thought that it was a
the diagnosis and
great way to fundraise
treatment of breast
money for an extremely
cancer. It is Canada’s
good cause. Also, it is a
great way to get
involved with the
raising event. Last year,
school and community.
the Run raised a total of over $30 million with the help of over 170,000 participants. The Run truly helps to bring a voice to those who are affected by breast cancer. If you
For this issue, the Lazy Faire team has had the privilege to talk to the Team Captain of the School of Business Team, Raphael Mlynarski, while taking a flight overlooking the course of the race! He will provide us with more insight into the run, as well as an opportunity for the two individuals that fundraise the most money to go on an exhilarating flight around the city!
wish to find more out information, you can visit www.cbcf.org.
What’s the School of Business’ involvement in the Run? R: The School of Business is part of the post-secon dary challenge, where it competes against other universities for various awards and prizes such as the CIBC Education
Why encourage stu-
Award, Top Individual
dents to participate
Fundraiser Award, Team
in the Run?
R: This is a great oppor-
Award, and Top Institu-
tunity to get involved,
tion Award. We will also
especially for first year
have a team running in
students who are new
Calgary that will repre-
to the school and wish
sent the Alberta School
to meet new people.
The event takes place early on in the school
What inspired you to
year, so if you are look-
become involved with
ing for something to
the Run for the Cure?
get involved in, this is
R: I was part of the
definitely a great place
School of Business
to start. It provides
Team last year and
great opportunity to
Does the School of Business Team have any specific goals this year? R: Yes! Our goal is to raise $20,000 this year. We also want to try and recruit as
Two Team Participants who raise the most money will win an Aerial City Tour with Raphael! left: an aerial view highlighting the starting point of the run. right: U of A School of Businessâ€™ very own team captain (and flight instructor!) Raphael Mlynarski. many people onto our
on the day of the run.
team as possible.
There is also the option
Can you give us more information about the flight? R: the two individuals that fundraise the most
to volunteer; more information is available at www.runforthecure. com. Finally, donations
It is vital to give back to the community that has provided so much for us. With our united efforts, we will take a step closer to find a cure. Whether you have been personally affected by breast cancer, know someone who has, or simply want to support those who have been affected, be sure to register, participate, and/or donate for the Run!
are always welcome!
money will have a chance
Do you have any tips
to go for a free private
for those on the day
flight with me around
of the run?
the city. I am a certified
R: Since there will be
1 Go to www.runforthecure.com
pilot and I want to
close to 10,000 partici-
provide the top fund-
pants, it would be most
2 Under <Locations> select <Edmonton> then <Join an Existing Team>
raisers with a unique
convenient for partici-
and exciting experience
pants to use public
as a treat for their time
transit. Be sure to eat
a healthy breakfast, stay
If you canâ€™t make it to the run, or missed the deadline to sign up for the School of Business Team, are there other ways to get involved and help out? R: Definitely. Even if you miss the deadline
hydrated, and dress appropriately as it can be really chilly on early October mornings. Finally, come with a
To join the School of Business Team:
3 Under <Team Name> type in <Alberta School of Business> then click <Join> To be eligible to join the Alberta School of Business Team and receive a personalized t-shirt, you must register online and pay a participation fee of $40 by Friday, September 20th.
Timeline: Location Date
Sunday, October 6th, 2013
Final Registration & Donation Drop-Off (City Hall)
smile and show some enthusiasm and support!
Sir Winston Churchill Square
to join the School of
Start of Run
Business Team (Sept
Start of Walk
20th), you can always
register as an individual online, or at City Hall
*starting point: China Gates at 102Ave - 97St
C L U B S
C O R N E R
written by JAMES LO designed by BONNIE TRUONG AND LINNEA LAPP http://know.burrp.com/wp-content/uploads/2012
ot sure what clubs to join? Want to be part of some of the most vibrant undergraduate groups at the University of Alberta? The Lazy Faire has featured a sample of clubs the Alberta School of Business has to offer, making your decision informed.
Getting involved in the many student groups that are in the SoB is an essential part of your University experience, as well as personal growth. Most graduates strongly believe that getting involved allowed them to learn invaluable skills that could not be found in the classroom. Here is a list of various clubs, seminars, as well as case competitions you can get involved with at the Alberta School of Business:
Business Finance Association
University of Alberta Accounting Club
There is so much more to the world of Finance and Economics than just investing. The Business Finance Association is dedicated to maintaining an educational link between students and the world of finance by providing students with the necessary resources to explore the vast spectrum of finance disciplines.
For over 40 years, the UAAC has provided business students with networking sessions, job opportunities, and events such as the CA Dinner, and annual Tax Clinic. The UAAC assists students throughout their degree toward pursuing their goals of becoming accounting professionals.
Alberta Energy Challenge
Enactus brings together academic and business leaders who are committed to using entrepreneurial action to improve the quality of life for the people in need. Guided by academic advisors and business experts, members of ENACTUS create and implement community empowerment projects around the globe such as financial literacy and transition into a new culture and compete in the Enactus World Cup!
The Alberta Energy Challenge (AEC) is a business case competition focused on exploring the opportunities and challenges present in the dynamic energy sector. Teams of 4 undergraduate students are asked to research and develop a comprehensive and innovative solution to a real time challenge presented by one of Albertaâ€™s energy companies. The competition will be held at the University of Alberta from September 25th - 29th, 2013.
University of Alberta Real Estate Club
Business Exchange Association
UARC provides insight into the critical role of the real estate industry in the community and to increase participation in the real estate program through various events such as an information forum, industry night, and case competition.
The Business Exchange Association (BEA) promotes international exchange opportunities to domestic students, through a variety of events including the BEA Halloween Pub Crawl, BEA Speaker Series, and BEA Case Competition.
Alberta JDC West
Cooperative Education Students Association
JDC West is the largest student-run business competition in Western Canada, hosting 12 top Western Canadian schools. The competition is comprised of an academic component, athletic competition, social challenges, debate tournament, charity aspect, and a whole lot of spirit! The talented group of business students on the team spend countless months preparing for the competition. In addition to becoming part of a 51-person family, the opportunities that JDC West opens up are endless. This fall JDC West will be recruiting for the social, athletics, and debate teams and invite all those interested to apply.
The Cooperative Education Association (CESA) provides support to current and prospective students of the Alberta School of Business Cooperative Education program. CESA acts as a liaison between the coop students, the School of Business, and the business community. This year, CESA will be hosting it's annual Top of Class Etiquette Dinner on October 3rd. Students get the opportunity to network with business professionals while learning valuable etiquette skills throughout the duration of a delicious four-course meal. Buy your tickets now from the CESA office now!
For more information about these clubs, visit their websites at: 1. Business Finance Association: www.uofabfa.com
5. University of Alberta Real Estate Club: www.uarc.ca
2. ENACTUS: www.enactus-alberta.com
6. Alberta JDC West: www.albertajdcwest.com
3. University of Alberta Accounting Club: www.uaac.ca
7. Business Exchange Association: www.uofabea.ca
4. Alberta Energy Challenge: www.albertaenergychallenge.com
8. Cooperative Education Students Association: www.cesaualberta.com
written by CAITLIN HALL designed by CHRISTINA STEFANIUK
Business Language S URVIVA L GUIDE
Welcome to the Alberta School of Business! Are you ready to leverage your education to become the next big CEO, CFO, COO, or SVP? All you need to do is develop your core competency and network, network, network. Oh, and remember this one rule: whether you work B2B or B2C, you’ll need to produce some serious ROI!
OVERHEARD IN THE CLASSROOM
but if you want to survive in business school you’re going to need to
“To gather buy-in for your idea you need to conduct a SWOT analysis. Present this to the class on a deck. It will be the final deliverable.”
learn a few basics other than “OMG” and “LOL”. To help you look
OVERHEARD IN THE HALLS:
and sound your smartest this fall, we’ve deciphered a few phrases
“I’m hoping to get an internship with one of the Big 4 this summer. I need the money to increase my assets and decrease my liabilities! If they hired me as a consultant, I would become an SME for any project I was assigned to. I’d have high utilization and no time on the bench.”
Maybe you’ve mastered the texting lingo necessary in high school,
that you’re likely to hear. The bolded words in this article are defined at the bottom of the page. TEST YOURSELF BEFORE YOU LOOK!
Business Language Survival Guide: Leverage: A synonym for “use”. CEO: Chief Executive Officer CFO: Chief Financial Officer COO: Chief Operating Officer SVP: Senior Vice President Core Competency: The main strength or strategic advantage. Network: To develop and use business contacts for purposes beyond the reason of initial contact.
B2B: Business to Business. Example: a company manufactures steering wheels and sells them to Honda to put in their cars.
Deck: The master PowerPoint presentation. Deliverable: Anything that is owed. This could be from a company to a client. But, here at the Alberta School of Business, it’s most likely from a student to a professor.
Internship: A method of on-the-job training for professional careers. Lots of business students try to get four month summer internships in fields they think they would like to work in. It’s a great way to gain experience and see the realities of a job.
Big 4: Deloitte, Ernst & Young, KPMG, and PricewaterhouseCoopers. Liabilities: Financial obligations held by individuals or corporations. Assets: A resource with economic value owned by an individual or
B2C: Business to Consumer. Example: Honda sells their cars to you (the
Consultant: A person who provides expert advice professionally. SME: Subject matter expert High Utilization: A high amount of time spent with clients versus
ROI: Return on Investment. Or in simpler terms, what you get compared to what you put in.
Buy-in: Support for an idea, project, or business venture. SWOT Analysis: Analyzing the strengths, weaknesses, opportunities, and threats of a project or business venture.
how much time is spent on the bench.
On the Bench: When a consultant is in between clients.
CONGRATS, you are no longer an amateur in business slang! 20
written by KAWTHARA SHIRE & ELNUR KASUMOV
“Many businesses today readily collect information regarding their clients and customers. Some of this information is used in marketing and statistical analysis to help the business improve and strengthen. In rare cases however, the collection of personal and transactional information may be to the distaste of an unwary customer/client. Is the collection of proprietary customer information by businesses ethically acceptable if it contributes to longterm business growth and success?”
the proposition Edward Snowden. Two words, one name, and one heck of a controversy. As one of the most heated discussions to ever grace the pages of newspapers, web searches, and Facebook feeds alike, we decided this would be a great way to get the debating juices going. Please welcome Elnur and Kawthara as they go head-tohead given the above question.
Two of LF’s very own writers hash it out over a controversial business-related topic relevant to today’s world of commerce. Spoils are bragging rights and the right to abuse the use of #winning (thanks Charlie) on LF’s Facebook and Twitter pages.
designed by LINNEA LAPP
Elnur | Affirmative Not only do I believe that the collection of proprietary information by businesses is ethically acceptable, I think it is necessary. I would like to approach my argument from 3 different directions. One is the recently trending (due to Edward Snowden’s incident) argument of defending national security. This argument is based on the simple truth that the existence of technologies such as instant messaging, cheap mobile communication devices and wire transfers has subliminally created a channel for their misuse. Now more than ever, it is easier to plan and execute acts of terror, send encrypted messages to mass audiences to undermine the government, and traffic drugs or illegals across borders. As such, another phenomenon you hear about in the news is fraud or identity theft. I recently got a call from my bank informing me that I am at risk of credit card fraud because my proprietary information has been compromised. They could have only found that out and told me that I should inform fraud alert services (useful service by the way) if they kept records of each and every time my account had been accessed. A perpetrator was caught within 48 hours and every client they gained access to was warned and offered fraud protection. A friend of mine had it worse! She’s been recently informed by her credit card company that her credit card number has been used in France, which is highly uncharacteristic of her purchasing patterns. A brief inquiry uncovered fraud and her money was reimbursed. How long would it have taken you to catch on to something like that if your company wasn’t tracking your purchasing patterns? Lastly, nothing in our society is more delicate and fragile than a mind of a child. Corrupting children’s minds with violence, sexual impurities and controlled substances can destroy the young generation and make society intolerable in a few swift generations. Without safety mechanisms, fewer and fewer barriers between impressionable youth and undesirable behavior would be left. Should we really stop implementing these preemptive measures and leave the weakest members of our society unprotected? No!
Kawthara | Negative Marketing experts agree that companies worldwide are being innovative and setting viable business goals as they collect large amounts of data in an effort to market to customers more effectively. However, doing so also brings up questions of privacy, data ownership and information ethics.The mainstream media as of late has really focused on this business practice and thus have triggered more than a few passionate reactions, especially in light of the controversy surrounding NSA whistle blower Edward Snowden. Customers and clients are beginning to question the amount of information they’re giving and what they’re receiving in return. There is a strong disincentive to give identifying information because it will simply be used to harass them or disburse private data without authorization. In some cases, the data is no longer being used in a way to enhance your client or customer experience, even though marketers would say that this data coupled with statistical analysis does ultimately lead to “growth”. At what cost? People do have the right to privacy and anonymity and if that’s being violated, then to what extent does it become a civil rights issue? It will be difficult to formulate a standard set of ethics around the collection of data for marketing research if individual moral standards are used as a guide. Governments need to work on forcing a conversation between businesses and the public, at least from a legal standpoint. I believe this discussion has to grow beyond the realm of privacy. To understand the issues, it’s important for businesses, legislators and consumers to agree on rules regarding privacy, identity, and ownership. 21
Jitters J it te r s written by RACHEL LEE designed by DAVID TON-LAI
I am thrilled by the prospects of being accepted into the Alberta School of business this year! In my first year I heard and read a lot of great things about the program, and prior to this I’d developed an affinity for the business world and all its opportunities. For the upcoming year, I am definitely excited
We all remember what it’s like to be a 1st year business student — excited, eager, and maybe even a little scared. To welcome the new students into the School of Business, we asked some of the 1st years about their expectations, excitements and fears for the upcoming school year.
to meet all my fellow business classmates, engage in school projects with my Cohort, participate in business competitions, and attend all my business courses. I believe that the professors, courses and people I’ll encounter will fully maximize this experience. The friendships I make and the hands-on, practical learning will be what drives me to enjoy the learning experience even more. I anticipate that the program will keep me busy with all its course assignments and special competitions,
but I feel that it will be a “good kind of busy” and I look forward to working along side my pears in this juncture. Hopefully we will all have a great time in Business and take away
From what I’ve seen, the students in the School of
Business are more tightly interconnected than most of the other faculties. I feel that with other faculties, you don’t really get to know your classmates very well, so I’m definitely excited about making a lot of friends in the school of business. I’m also
ISABELLE LAM HAKEEM EZIMOKHAI
really excited about the opportunities available at
the School of Business that weren’t really available
As an incoming business student, I have heard a lot about
beforehand, like case competitions. I think the
the fearful side of the School of Business - the plummeting
biggest thing that scares me about coming into the
GPA, required group presentations and public speaking. All
school of business is the competition. The students
of these uncertainties make me nervous about the School of
coming into this faculty are aspiring leaders and
Business. On the other hand, however, the School of Business
driven individuals, and it’s kind of nerve-wracking
has a cohort system and I know that this system will make
for me to know that I’m competing with these
school more fun and exciting. I am looking forward to making
people for jobs, course performance, etc. On the
new friends and taking part in many of the social activities the
other hand, I know that these people will become
school has to offer. All in all, most university experiences are
my connections and friends that will last for a
full of ups and downs and I am looking forward to taking on
lifetime and who knows what kinds of opportunities
the academic challenges while enjoying the fun aspects of the
will result from these relationships!
School of Business.
The Comprehensive S URVIVA L GUIDE for Business Students written by LOUIS LIU designed by JENNY WANG
We all have that love-hate relationship with this back-to-school time of year. For some of us, the arrival of fall means that boxes of tissues are a necessity as we wallow in our despair, mourning the loss of the summer break. There are also those that are looking forward to starting another school year, whether it’s their first, second, third, or final time around. Mixed emotions are aplenty, but the Lazy Faire has got all your back to school essentials in our back-to-school survival guide.
PROFESSIONAL SUIT, BLACK: For both men and
women, a black suit is a must-have for business school. Presentations, interviews, and networking events will all require you to look tip-top the top. The simplest and cheapest way to make sure you are ready for all of these business activities is through the classic black suit. If you’re still rocking that memorable yet ancient high school grad outfit and looking to make the switch, an affordable black suit is your safest bet. You can always add some color, and flavor through accessories (ties, watches, pocket squares, etc.), but in most cases you will need to color coordinate with your fellow group members.
SIGN UP AND ATTEND NETWORKING EVENTS:
One of the first things about business school that you’ll notice is that networking is king. A large part of your success in business school will be attributed to the people you meet, friends you’ll start to accumulate and the people you maintain relationships with. Events such as ENERGIZE, IGNITE, and TASTE will help you do just that. IGNITE is the perfect time for you to meet, and bond with your fellow first-years; while ENERGIZE is great for learning tips and tricks from UofA SoB alumni, as well as a wide variety of acclaimed speakers.
KNOW YOUR WAY AROUND THE WINSPEAR: The library will be your humble habitat at many points throughout the school year – sometimes for inhumane amounts of time during exam season. Even so, the library will be your resource powerhouse for online content and research. With Head Librarian Kathy West at the helm, the team of librarians are always at your disposal. Don’t be shy to go up and ask them for help researching content for your latest project – they are sure to point you in the right direction to finding that research gold.
WATCH OUT FOR THOSE WASHROOMS: Pro tip: the washrooms for men and women are reversed as you make your way from the first to the second floor. You have been warned.
UNDERGRAD OFFICE: The Undergrad Office located on the second floor of the business building holds all of your BCom essentials. Major/Minor detail forms and applications can be found on the wall just inside, and to the right of the office entrance. If you need to talk to an advisor to get some advice over various topics, you can set up a meeting with a student advisor by visiting the undergraduate office two days prior, and filling out a short form. This can also be done through email to firstname.lastname@example.org. This step is necessary so that the office can update your file and have it ready for the advisor when you go in for your appointment. MOST IMPORTANT:
Have confidence in yourself. Don’t be afraid to put yourself out there because you think you’ll be the odd one out. On the contrary, most students are just like you and are looking to join clubs, attend events, and participate in competitions to meet and familiarize themselves with new faces, and situations. Embrace the opportunities to step outside your comfort zone and try new things. Think of your blunders as instances to learn from, not instances to forget, and your lists of accomplishments are sure to start rolling in by the dozens.
Looking for the right club? Pay a visit to the Business Clubs Fair at the Business Quad in front of the School of Business during Welcome Week. Though the Lazy Faire booth is certain to catch your eye, this is a great time for you to explore everything our business school has to offer.
The one thing that never changes is our values. We succeed through satisfied customers. We value our employees. We deliver quality and excellence in all we do. We require premium return on assets. We use technology to develop market leadership. We behave responsibly as a corporate citizen. –Joseph C. Wilson, Xerox Founder, 1961
Last year across Canada 170 new grads joined our team. Find out why findyourXfactor.com. Xerox is a proud sponsor of the University of Alberta BSA.
© 2012 Xerox Corporation. All rights reserved. Xerox®, Xerox and Design® and Ready For Real Business are trademarks of Xerox Corporation in the United States and/or other countries. Xerox Canada Ltd. is the licensee of all the trademarks.