October 2014

FOR AND BY BUSINESS STUDENTS

October 2014

TIPS FOR SUCCESSFUL

GROUP WORK DOS AND DON’TS

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CRAIG PATTERSON

FROM LAWYER TO RETAIL INDUSTRY EXPERT

IN A PRESENTATION

TURNING IDEAS INTO BUSINESS WITH

VICTOR BASU

want to be on our next cover?

IF YOU ANSWERED YES— Visit our website at lazyfaire.com or our Facebook page, Lazy Faire Magazine, for more information.

DENTS

ESS STU IN S U B Y B D N A R FO

MAGAZINE

CONTRIBUTORS EDITOR-IN-CHIEF Rachel Lee

CREATIVE

October 2014

CONTENT EDITORS Kawthara Shire Lindsay Hofer ASSOCIATE CONTENT EDITOR Tammy Leung WRITERS Elnur Kasumov Felicia Liang Garry Deng Ilhaam Jiwaji James Lo Kyra Cusveller Rebecca Okrainec Roshni Parhar Thomas Yonan Travis Garner Tsega MacDonald

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Editor’s Note

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What’s Up

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NETWORK OF EMPOWERED WOMEN Explore amazing opportunities for growth and empowerment with NEW!

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HOW TO APPROACH NETWORKING

CLUBS CORNER

“Your network is your net worth!”

ART DIRECTOR Carol Wong DESIGNERS Bonnie Truong Christina Stefaniuk Deanna Bains Michael Baker Shannon Fidler Shirley Du

NETWORKING SMARTS

BUS 201: A NECESSARY RITE OF PASSAGE OR A DREADED DETOUR? This month’s debate about the necessity, or lack thereof, of BUS 201

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VICTOR BASU Turning ideas into opportunities

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CRAIG PATTERSON From lawyer to retail industry expert

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DOS AND DON’TS IN A PRESENTATION What to wear for that nerve-racking presentation!

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NISH MAKWANA Building a future in MIS

THOUGHT VS. THOUGHT

PHOTOGRAPY DiIRECTOR Galee Khau PHOTOGRAPHERS Arianna Biasini Carissa Tham Cassian Soltykevych Deanna Bains Michael Zhang

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STUDENT SPOTLIGHT

STRATEGIC COMMUNICATIONS DIRECTOR Kevin Paul Espenido

EXTERNAL RELATIONS

MARKETING COORDINATOR Amy Yang EVENTS COORDINATOR Roshni Parhar

FASHION TRENDS

EXTERNAL DIRECTOR Leslie Chiang SPONSHORSHIP COORDINATOR Kelsea Zalaski

LAZY CHAT

PRODUCTION SPONSORED BY Priority Printing PwC Xerox Canada SPECIAL THANKS TO Diana Wyley

CONTACT US

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E-MAIL uofalazyfaire @gmail.com WEBSITE www.lazyfaire.com

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MEET THE TEAM Introducing more LF executive members!

MEET YOUR FIRST YEARS Interview with the winners of our clubs fair contest

cover designed by CAROL WONG cover photographed by MICHAEL ZHANG

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FALL FLAVOURS: APPLE PIE Nothing says October like a delicious pie

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YOUR GUIDE TO: GROUP PROJECTS Tips on how to be successful when it comes to working in a group!

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HOW TO PULL OFF A STELLAR PRESENTATION Wow your judges with your presentation—and your

EDITOR’S NOTE

designed by CAROL WONG photographed by ARIANNA BIASINI

I

often cringe at the widely spread yet unwarranted advice to glossopobia—if I had to picture the audience naked, I’m sure I would be too traumatized and preoccupied to stand in front of the audience, let alone make a speech. So what does it really take to be better at public presentations?

It is undeniable that any form of public speaking is often a source of panic for many people (and conversely a source of passion for others). It’s also true that the thought of putting yourself out there, subject to public scrutiny, can be just as rattling and traumatizing as picturing your professors naked during classroom presentations. I had a friend that once told me about all the things that went through his head when he stood up in front of his classmates for his presentation: “Will the audience like me? Will they laugh at me? Will I screw up my words and embarrass myself? Will the audience throw tomatoes at me and ruin my tailored suit?” So many thoughts! No wonder he was speechless every time he went on the stage… his brain was too busy thinking about these unrealistic ‘what if’ scenarios.

Quite frankly, these fears are all unwarranted. Your audience is bound by social norm and the code of human respect to clap and acknowledge your efforts at the end of your presentation. No one in the audience is allowed to throw tomatoes at you or laugh at your speech, at least not during the classroom presentations (or they might lose participation marks). So why not enjoy this time as your right to shine? I think the students passionate about case competitions will agree with me when I say that stage time is a privileged time when everyone pampers you

with their undivided attention. A time when everyone in the room is forced to listen to you, smile politely and clap no matter how boring or terrible your ideas might be. A time when you can truly put your ideas out there and get an adrenaline rush out of it.

A wise man once said ‘If you can’t avoid it, enjoy it’. If you can’t enjoy the unavoidable, then at least make the best of it. The blunt truth about public speaking is that no matter how much you love or hate them, they are a mandatory part of your degree, your life, and your communication to the world. The only thing you can do is to prepare for these situations by reading up on tips for public speaking, focusing on team work, and thoroughly analyzing your case. After that, you can only practice, practice and practice. essential process- preparation. Everything you need from working with group members to tips on presentations can all be found in this month’s issue. Whether you are a brilliant speaker or a shy presenter, all the tools you need to improve can be found within these pages. Now the responsibility is on you: are you willing put these tools to use?

Best wishes,

RACHEL LEE Editor-in-Chief

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WHAT’S UP UPCoMING CAsE CoMPEtItIoNs Mark your calendars—these only come around once a year!

November 8, 2014

January 16 – 18, 2015

March 2015

Alberta Internal Case Competition

JDC West

This competition that’s run by the BSA exclusively for U of A students is a great opportunity to try case competitions out as a beginner or show your talent as a veteran.

The biggest case competition in western Canada is being hosted in Victoria this year. Bringing together 600 delegates from 12 business schools to compete in 12 different disciplines this is sure to be one electrifying weekend.

University of Alberta Marketing Association

November 22, 2014

March 2015

February 2015

Business Exchange Association International Case Competition Compete on a team with students from abroad in an international case.

This opportunity is a great way to gain new viewpoints and met students from all over the world.

This fun case competition with a focus on marketing usually involves turning a local business to get a thorough understanding of its workings before providing a solution to their problem.

Edge Business Competition This is your chance to participate in a highly interactive, multidisciplinary business simulation competition.

February 25 – 28, 2015

CPA Board Governance Competition Hosted by the CPA in Calgary, this competition has a strong focus on the ethics of governing an organization. Even if numbers are your nemesis you should consider that competing accounting isn’t the focus, ethics are.

written by TRAVIS GARNER designed by SHANNON FIDLER

Case Competition organizations to create an interesting case about a problem they are currently facing. This three-day event involving universities from Canada and the US gives students an insightful look into real world problems facing these organizations.

WhAt ArE yoU Most thANkFUl For thIs thANksGIvING? 19% sAID

spending time with those relatives you never see

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31% sAID

that much-needed coffee to get you through midterms

35% sAID

delicious turkey & pumpkin pie

15% sAID

having a whole day off, no Monday until Tuesday

KELSEA ZALASKI | Sponsorship Coordinator MAJOR: Human Resources Managment

GALEE KHAU | Photography Director

LF: What would you like to achieve with your involvement with Lazy Faire this year?

KZ: This year I’d like to create lasting partnerships between the magazine and external parties as well as provide information interesting and relevant to our current students.

MAJOR: Marketing

LF: What is something about yourself that would surprise most people?

GK: I ran a local painting business two summers ago and earned $45,000 in revenue.

LF: What is something about yourself that would surprise most people?

KZ: Something about myself that would surprise most people is that I’m actually really nerdy. I was a Mathlete and worked at a video rental store.

LF: Keep with this month’s theme of Presentations and Ideas, what is the best presentation advice you’ve ever received?

GK: The best presentation advice I received during my first year is to never memorize your lines!

LF: What was your BUS 201 business plan?

KZ: My business plan for BUS 201 was a food ordering app called Foodle for participating restaurants on the university campus that allowed students to pre-order their food for a certain time then be able to pick it up at that time skipping the lineups!

LF: What was your BUS 201 business plan?

GK: My BUS 201 business plan was a Transit Route and Traffic App for smartphones.

MEET THE TEAM written by TRAVIS GARNER designed by DEANNA BAINS

CAROL WONG | Art Director

MAJOR: Business Economics and Law LF: What would you like to achieve with your involvement with Lazy Faire this year?

CW: I would like to make the process of creating the magazine, at least in terms of design, as stress-free as possible. I also want to work on relationship-building with this year’s team. We run on a tight schedule, but that shouldn’t prevent us from having fun!

LF: What is something about yourself that would surprise most people?

CW: For those who don’t know me that well, probably the fact that I have my ARCT teacher’s diploma for piano performance from the Royal Conservatory of Music, and that I’ve always secretly wanted to be a concert pianist.

LF: What was your BUS 201 business plan?

CW: My business plan was to open a thrift store that sold women’s and men’s previously owned luxury brand accessories.

AMY YANG | Marketing Coordinator MAJOR: NREE

LF: What would you like to achieve with your involvement with Lazy Faire this year?

AY: I would like to get all the first year business students to know about us and read our magazines.

LF: What is something about yourself that would surprise most people?

AY: I can sing in Italian! Listening to Italian songs help me focus better when I am studying.

LF: Keep with this month’s theme of Presentations and Ideas, what is the best presentation advice you’ve ever received?

AY: Just keep on practicing. Practice really can greatly boost your confidence level.

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Top row (from left to right): Jeremy Jakubowski, VP PR | Lauren Frederick Sophie McMillan Amanda Beggs, Co-Chair | Amanda Gagelonia, Co-Chair | Oshadhi Perera, VP External | Olivia Kwok, VP Finance Bottom row (from left to right): Joanne Lieu Sumita Sharma Katie Taschuk Nicole Wiebe, VP Events | Hannah Marvin

Carol Wong, VP Logistics Mimi Ngo

CLUBS CORNER

NETWORK OF EMPOWERED WOMEN The Network of Empowered Women (NEW) hosts an annual, four-daylong conference organized by its executive team. It brings together individuals interested in business from all across the nation. Choosing to apply to attend the conference held every January at the lovely Fairmont Chateau Lake Louise gives students the opportunity to listen to keynote speakers, to be a part of TedTalk discussions, chalet nights, and numerous networking opportunities.

chance to network with others across Canada. Not only will the event help students form nationwide contacts, but it will also allow for the opportunity to obtain practical experience in a business situation!

For only $450 per person, food and accommodation for the entirety of the conference and round-trip coach transportation from Edmonton to Lake

of learning, insight, and mentorship throughout the four days, towards the evening students still get the chance to relax and enjoy all that Lake Louise

monetary investment provide you for the rest of your future? The hope is that upon reaching the end of the conference, students will leave with the foundation necessary to empower them through any obstacles that they may face in their personal and professional lives. The theme for this year’s 2015 conference is “discover your path, unfold your vision”, and NEW will help you achieve that. The co-chairs Amanda Gagelonia and Amanda Beggs, along with their executive team, have come together to ensure that the 100 business students who attend will receive this amazing experience.

Additionally, the conference plans to theme one of their chalet nights with “Midnight in Paris”. Once again, another opportunity to network with others,

Finally, how can you get involved? After the success of their last prefemale leaders in the business world, NEW is teaming up with ANPCC and hosting a second pre-conference event called Beyond The Bottom Line.

November 19th!

What opportunities does NEW have in place for this year? While the prospective speakers for 2015 are not revealed yet, there are a few other events tentatively planned out. The conference will feature a challenge

Also, the conference this year will be held from January 22nd to 25th and will host 100 undergraduate business students from across Canada. In order to capitalize on this experience, individuals must undergo an application

exposed to an industry that strives to create an impact on the community.

Individuals will be randomly assigned to teams in order to give students the

hesitate to apply! The deadline is October 31st, so be sure to submit your application on time!

written by REBECCA OKRAINEC designed by CAROL WONG photographs supplied by NEW, taken by CARISSA THAM

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h c a o r p p

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A o t w Ho g n i k r o w t e N

NETWORKING SMARTS

written by ILHAAM JIWAJI designed by BONNIE TRUONG

You’ve heard it multiple times, “your network is your net worth.” Yes it can become slightly cliché and start to feel a tad pretentious but, it’s true! When you think of networking, what most likely comes to mind is meeting within a professional setting. However, it can be related to almost anything. This ranges from school friends to co-workers. The best part of getting to know your peers and corporates is not that one-day they may benefit you, but the long lasting and meaningful relationship that can come out of them.

When meeting others, it always helps to focus on a few key skills:

Polished Appearance: It is important to always try and look your best. We’re not saying taking 3 hours to get ready but it’s the little things that count. Making sure there are no tears or holes on your shirt and that your hair isn’t a mess can be the difference between a good and bad first impression.

Introduce Yourself: Sometimes finding the right opportunity within a group setting can be tough, causing most of us to shy away from the introduction. It is probably the most important part… obviously. Without an introduction there is nothing for someone to even remember about you!

The Handshake: Practice your handshake before hand to make sure it’s not too light, or in some cases too heavy handed. It never hurts to extend a hand when you meet someone new.

The Follow-Up: Assuming your first meeting goes well it is always a good idea to message your new acquaintance for a follow up coffee/lunch. This can take your relationship to the next level and help you connect in a more relaxed setting.

Try not focus on what you can get from your relationships and networks but rather what you can contribute towards them. Always be open minded and willing to help others. Never enter a potential relationship with what you have to gain in mind. But this does not mean you should not take advantage of the opportunities that are provided to you through your networks. By all means, accept someone’s kindness but remember to be humble and always appreciative of the chances you have been provided with because what you put into a relationship is usually what you get out of one.

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{ } MEET YOUR FIRST YEARS

Let’s be honest, we all remember how we felt prior to entering our first year at the Alberta School of Business. Each first year business student begins the semester with an incredible eagerness to experience a brand new faculty and meet new people. That feeling of eagerness is quickly replaced by an insane sense of nervousness after learning about the slew of presentations and public speaking. However, there is an overwhelming excitement that pervades over the entire year when you think about the wealth of brand new experiences and opportunities that are just upon the horizon for you.

With those first year jitters in mind, Lazy Faire decided to run a contest at this year’s Club Fair to feature two first year business students in this month’s issue. We asked the winners about their expectations, excitements, and fears for the upcoming school year.

Matthew Ryan

Tell us about yourself!

Michelle: My name is Michelle Lee and I am currently in my first year in the Faculty of Business. I am majoring in Accounting with a minor in Strategic Management and Organization.

Matthew: My name is Matthew Ryan and I’m extremely excited to be joining the Faculty of Business! The field of Operations Management intrigues me, so I’m currently considering OM as my major.

What were your expectations prior to entering the Alberta School of Business?

Michelle: I expected business to be really fun, very busy, and a tiny bit difficult. I was nervous, but also excited. It has been a bit overwhelming so far but I am really enjoying all of the subjects I am studying.

Michelle Lee

Matthew: Before entering the School of Business, I expected the coursework to be challenging. The students in the SoB are some of the most energetic and helpful people I’ve encountered in my life. I also have had the privilege of being able to begin my academic career at the SoB at the same time as my older brother. Being able to experience our first year of business together has so far been one of the best university experiences I’ve had.

What were your first impressions of the Alberta School of Business?

written by JAMES LO designed by CHRISTINA STEFANIUK & CAROL WONG photographs by CASSIAN SOLTYKEVYCH & MICHAEL ZHANG

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Michelle: First year as a business student is very busy, overwhelming and extremely eventful. Since the first day of classes there have always been many different events to attend, from Ignite, to Graffiti Night, to the Top of the Class. It seems like there is always a great deal of opportunities to network with individuals who can help you make the most of your degree.

Matthew: My first impressions with the SoB have been great. I am genuinely surprised at how useful the classroom material is. The classes seem so much more applicable to real-world problem solving.

What stood out for you in your first week of school?

Michelle: My first week as a business student was really great. It was very overwhelming trying to balance all of the class readings, Co-op seminars and workshops with working part-time. Based on the first week, I can predict this is going to be a very fun and extremely busy year.

Matthew: One of the best parts about becoming a new business student is meeting so many of the other new business students. There is a sense of cohesion amongst us all. I must say though, that the size of the BUS 201 class did seem overwhelming. Plus, what I hear from senior business students make the group projects in BUS 201 sound like a nightmare. They’re just exaggerating, right?

What are your future plans within the Alberta School of Business?

Michelle: My future plans for school are to definitely get more involved in clubs and to take part in case competitions. I am also planning to apply as a cohort representative and I have already been accepted into the Co-op program.

Matthew: Currently there are a couple of clubs that interest me. I’m also really excited to apply for Co-op this winter. I think it’s going to be an invaluable experience, a great way to build skills, and will help me to network outside the School of Business.

What are your plans after graduation?

Michelle: After my degree, I am planning to get my CPA designation.

Matthew: I don’t currently have any solid plans after graduation, but I do have several ideas. I’ve considered law school or potentially working towards my MBA. Eventually I’d like to move to Vancouver.

: 1 0 2 S

Y U R A S B NECES AGE OR

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A S S A P F O D E E T I D R A

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R D A O E T

THOUGHT VS. THOUGHT written by BONNIE TRUONG & GARRY DENG designed by MICHAEL BAKER & CAROL WONG

SSAGE RITE OFiePTA ruong Bonn

le king with peop arn le as a team. Wor n y el ca iv u ct yo fe e ef us k wor great idea beca ses. On a side a is Third, you can re fo be d r worke eaknes you have neve ths and improve on your w an ur interview if a ng from their stre ve something to share in yo d as ke or w ve u’ ha yo note, you now ks about a situation where as employer ever self shine. ur team. Make yo e amount astically. Oh th edit over ill improve dr to w s ed ill ar sk ep ng pr iti be . You’ll Fourth, your ed tears to my eyes. You must like gibberish gs ok in lo br to ng ns gi iti be of ed ish gl En il nt over...u and over and d. guru by the en be a grammar t you ur. This is wha e an entreprene the future. Take m co be to w n ho s in Fifth, you lear ting a busines u plan on star need to do if yo lution. ight be the so ing and you m th g bi xt ne e waiting for th

g ifest. Dependin nship can man can be tio la re e at -h a love tcome With BUS 201, t into it, the ou forever. of effort you pu want to erase on the amount n be a black mark that you ne sa ep ke to r ca de it u must do in or bers, managing rewarding or yo at th gs in y th your team mem bringing your There are man g harmony with rt into ay such as creatin , and dedicating 99.9% effo erything, all m ly your time wise as a team. In the midst of ev emplate throwing nt on co r idea into fruiti terly depressing -you may but remembe d ut couple timesa off. g seem dark an ys in pa ild k bu or a w e side of el. Hard s yourself off th exist at the end of the tunn ill sk y in so man es 1 is that you ga that a light do rt about BUS 20 pa st be e th d An ur career. essential to yo It’s so writing skills. gain businesse real world, u th yo t, in e os us m re ca be First and fo writing skills ust. No one ur m yo a h is y lis el po iv important to ely and effect siv ua rs pe e writ being able to n work. a poorly writte wants to read s. Being able thinking skill l and creative novative ca in iti cr ith p w lo up ve g Second, you de oblems, comin nt perspective... pr to x bo e th e ffere ink to think outsid ings from a di that you can th ning to see th see and know to t solutions, lear an w s er s employ These are skill lem and consequences. ob through the pr

ill keep you od and bad - w everything - go e within the SOB. m your days to co I think it is. lf, is it worth it?

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ta laughing and

DREADED DETOUR Garry Deng

Alright, who thinks BUS 201 is actu ally worth the trouble and time? Granted, the course cont ent allows students to business, but other features of the Bachelor of Commerce program afford students the sam e opportunities to learn and experience the same BUS 201 concept as well, and in a more enlightening manner. For all intents and purposes, BUS 201 is just a pointless source of frustration and waste of time – a dreaded detour.

Take for instance the two most imp ortant projects of the BUS 201 course: the BUS 201 case study and business plan. Most, if not all, business stud ents inevitably spend absurd amounts of time on thes e two projects every year.

However, that which can be lear nt and experienced from the case study can also be learnt and experienced from one of the many case competition s being advertised in the business building all year roun d, and many aspects of the business plan, such as the conducting of market

from projects that will inevitably

be assigned from other,

Bachelor of Commerce program.

And don’t even get me started on BUS 201 groups.

Traditional case competitions, for example, would allow students to choose their own grou p mates so as to best complement one another’s skills and talents, but BUS 201 randomly groups its students toge ther! Random groupings From this perspective, BUS 201 coul d really be a big hit or miss with different people. A stud ent randomly put into a experience to be more enjoyable than a student who was put into a group of lazy slackers.

Thus, due to its redundant course content and inconsistent student satisfaction, to the BUS 201 course, I shake my head in disapproval.

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V STUDENT SPOTLIGHT

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V

The Alberta School of Business provides endless opportunities for students not only to foster their education to new heights, but also to participate in countless extracurricular ventures. BUS 201 has been the perfect stepping stone for the motivation and skills needed to enter the domain of entrepreneurial ventures, and can bring about a whole new realm of possibilities. The last year’s Dean’s Competition winner, Victor Basu, has used this starting point to launch his company, MASV. Victor sat down with Lazy Faire to answer some questions about his business venture, and much more!

Can you tell us a bit about yourself, and what you have going on right now?

VB / I am a second year business student, majoring in Finance. Right now, I’m involved in AIESEC as the Outgoing Exchange VP, an internal Director for the BFA and the Treasurer of the Entrepreneurship Club. I’m also working on my business, and am currently taking four courses.

Congratulations on winning the Dean’s Comp! You’ve used that idea and created a start-up, so can you tell us a bit about your company?

VB / In the oil and gas industry, if you need to find an equipment or a service as a rig manager or a consultant, traditional methods for sourcing would involve speaking with your existing contacts. If they don’t have the services you need, you have to go through web-searches or directories. This can take hours to do, and this downtime can be costly for these companies.

What we are doing is creating a phone call routing system that uses a centralized number, where on our back end, our algorithm sorts and filters through categories of companies and finds the closest company with the item or service. If the company accepts, then we connect them back to the customer, thereby reducing the search and shipping times for companies. Our company is called MASV, and our team is made up of four cofounders. It’s great because we have complementary skillsets that I think will help us bring our business to the next level. We each bring something different to the table, and we work really well together, so I’m looking forward to where it takes us.

What influenced you to take your idea and make it into a reality?

VB / I think it was mainly just the conviction and belief in the idea by a lot of people. Part of it was also because I have always been someone who wanted to build something. I mean, we had this great team, this great idea, and the great opportunity of the Entrepreneurship Hub being established at that exact time. I figured, “Why not? Lets go do it!” My BUS 201 group member and co-founder, Manson Parks, was all for it, and so we went ahead with the idea.

I would like to give a shout out to E-Hub: it’s one of the best ventures on campus where you can just go and meet people and create your own venture. It is very exciting to see entrepreneurship growing in business because that space wasn’t really there before.

Were there things you were unsure about or made you think it wouldn’t work out?

VB / It wasn’t so much the idea that scared me, but more so the execution and the fact that I’m only 19 with little entrepreneurial experience. I knew that being able to take the idea and turning it into a reality might be a challenge. In a way it is, but it’s also really exciting and I think that drive to create something overrules the nervousness of jumping into this venture.

Where do you want MASV to go, and where do you see yourself heading?

VB / We want to have the whole project launched by May 2015, and have people using it! You never know what will happen in an entrepreneurial venture, but I do enjoy running my own business and it is something I want to continue doing. With regards to having finance as my major, it’s really different from running a business, but it’s also something I really enjoy, and so right now I’m kind of just seeing where things go.

What is it like for you as a student, running a business, keeping up your grades, and being involved in extracurricular activities?

VB / It’s tough, but it’s exciting. Part of it is that when you’re in a start up, there is always something new happening and that keeps me on my toes and excited. Even though I’m running this business while going to school full time, I do have an amazing team behind me, so we do understand when each of us has other priorities. In terms of school and everything else, it’s just a matter of effort and time management.

Do you have any advice that you can offer to our first year business students with regards to their business plans and BUS 201 in general?

VB / First of all, work hard and manage your time effectively. You will have a tight timeline in terms of getting things done, and there will be a lot on your plate that requires time and effort, so it’s important to budget your time. For example, when we got our first assignment, our group sat down that day and planned out our entire timeline of how we wanted things done. If we needed things changed later, that was okay, because by doing that, we were able to manage our time effectively. Secondly, think of an idea that isn’t necessarily traditional or in your range of comfort. You will be doing so much research for it anyway, so something in a different industry can be beneficial. In our case, for instance, the idea carried us a long way.

written by ROSHNI PARHAR designed by CAROL WONG photographed by MICHAEL ZHANG

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EXTERNAL RELATIONS

Craig Patterson From lawyer to retail industry expert

Craig Patterson is founder and Editor-in-Chief of Retail Insider, considered to be Canadas go-to source for retail news, opinion and analysis. He graduated with a Bachelor of Commerce from our faculty in 1998.

He then moved on to study Law and after passing the Alberta Bar in 2001, embarked on a successful legal-related career in Toronto and Vancouver. Most recently, he spent five years as a manager at Canada's largest pro-bono legal service provider, and relocated to Edmonton just last month.

Despite his studies and extensive legal work, Craig carried a passion for retail and real estate—particularly pertaining to luxury retail and department stores. He took the time to talk to us about what it takes to run a successful online news magazine, his choice to leave a secure position to pursue his passion, his advice for students here in the faculty, and his take on the future of Canadian retail.

What is Retail Insider?

Canada's leading retail news source began in the spring of 2012, when a fellow law graduate suggested that Craig start a blog to share his retail expertise. This idea went on the back burner until Craig met a manager from Nordstrom at a conference, who mentioned that the retailer was struggling with legal issues regarding bringing managers to Canada from the U.S. for its proposed international expansion. This was the scoop with which Craig launched Retail Insider in April of 2012. The blog quickly took flight and has been growing rapidly ever since. It now enjoys a readership of thousands of Canada's most influential industry decision makers.

In the beginning, the blog dealt with global retail, but after noticing that articles about Canadian retail drew

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strong local readership, Craig concentrated his content on Canada. This fostered steady organic growth for the website and Craig's reputation as a retail expert. At first, posting was a thing that he would do once in a while but as the website developed, it consumed most of his time to the point where it became a full-time endeavour.

The tipping point for him was when he realized that he wasn't fully engaged in his day job, prompting him to leave it to concentrate on his passion full-time. That critical decision paid off and Craig is now one of the leading experts on Canadian retail, spearheading Retail Insider to become the most influential and sought after news source in the industry.

Switching from a safe career to a risky venture Craig's leap of faith came with some major challenges: How would he monetize the website to guarantee a living? How would he continue to increase readership substantially? How would he manage to deal with all of the back-end work required for a successful news website? How would he connect with more key people to get more news stories?

The key to overcoming all of these is simple: “If you love what you're doing, it doesn't feel like work. Believe in yourself—it's a mindset, so be resilient and persistent.”

He goes on to say: “Try not to be a perfectionist, but always aim for high quality. Add value to everything that you do.” Furthermore: “There are going to be things that require hard work and things you dislike doing, but the rewards will come. Have confidence that you know what you are doing, go with your gut instincts, don't be afraid to make changes and seek outside advice, and keep in mind that you might not make a lot of money right away.”

Craig provides a guide to what to do with good ideas:

s Write them down. s Keep them handy. s Mull them over and see what's feasible. s Have a trusted group of people available to ask for feedback, especially experts, and make sure these are not 'yes men'—that they are critical and tell you what you are doing wrong. Be open to their advice. s Prioritize; don't implement everything at the same time s When presenting, cultivate your audience and speak to them professionally. s Keep it clean.

Craig's take on the future of Canadian retail He says that more and more online retail is coming about, but “there is still a strong future for brick-andmortar stores. They will have to innovate to keep shoppers visiting, however, as online shopping becomes increasingly common.”

He mentions a polarization in Canadian retail. “Highend luxury retail is expanding, as is value-priced retail, while the middle market is shrinking in many cases.

Many brands are now insisting on operating their own free-standing stores or concessions within larger stores, as opposed to wholesaling to other retailers.

International retailers are flooding into Canada, which means that some complacent homegrown retailers will have to up their game in order to survive.”

Craig has recently relocated to Edmonton and has been involved with our School of Retailing. He works out of the new office space in HUB mall and is excited about Edmonton's booming potential. He says that the city is not without its challenges, but it is very interesting to see how fast and in what direction it will grow.

written by ELNUR KASUMOV designed by CAROL WONG photographed by CASSIAN SOLTYKEVYCH

15

AND

DOs don'ts in a presentation

FASHION TRENDS

For some of us, choosing an outfit is a daily dilemma; for others, not so much.

Either way, it is imperative that all of us put some thought into our outfit for the day. Remember, you only get to make a first impression once—don’t let your fashion sense be a detriment to you in any way!

DO...

DON'T...

…wear a blazer/suit. Nothing screams “business” like a well-structured and well-fitted blazer, and this applies to both the ladies and the gents. …wear a shirt/blouse. You can never go wrong with a classic button-up, and collared shirts tend to give off a more formal look. Ladies, if you wear a blouse, avoid fabric that is too sheer or has a low cut. …be well groomed. This means fixing that bed head, keeping your fringe out of your eyes, ironing that shirt, and polishing those shoes. A little goes a long way and shows that you pay attention to detail. …wear neutral colors such as black, grey, khaki, or navy blue. They tend to be a safe and professional-looking option. If you want to go for a pop of color, remember to keep it subtle by incorporating it into a tie or jewellery. …keep your skirt at an appropriate length.

Ideally wear a pencil skirt that hits at least right above your knees. When seated, your skirt should not ride up above your mid-thigh. …ensure your clothing is well-fitted. An expensive suit loses its merit when it is four sizes too large. Get it hemmed and tailored as needed for that clean, polished look. …choose “formal” fabric. Cotton and wool are good options, but try to avoid linen and polyester blends. …coordinate your top and bottom. Don’t have a mismatch of ten different colors and prints in your outfit. Try to avoid wearing print on print; keep your outfit simple and clean to look at. …wear formal shoes. Leather shoes are usually a great option; oxfords and loafers are all standards for men and black, brown, nude, or grey give the most professional look. …wear dress socks. This tends to be overlooked by many men, but you’ll be surprised at how a pair of socks can polish up your overall look.

...wear sky-high heels. Keep in mind that you are doing a presentation, not attending an extravagant banquet. Tuck away those 5” stilettos and choose a sensible heel of 3” or less. Make sure they are sturdy and that you can walk around comfortably in them. Also, opt for a closed-toe shoe as it looks more professional. …wear bold patterns/prints. While pinstriped shirts are a great option, you do not want to get carried away with loud prints and have your outfit detract from your presentation.

Monotone colors tend to be your safest bet, although it is never a sin to experiment! The key is to keep your fashion in moderation. …wear too much make-up. Keep your makeup looking refreshed and natural. …wear anything that you would wear to a bar. If an article of clothing is suitable for the bar environment, chances are it’s not the best option to wear for a business presentation.

Avoid anything too skin-tight or revealing. …wear jeans. Black jeans are NOT an appropriate substitute for black dress pants or chinos! …pile on too much jewellery or too many accessories. Jewellery should complement your outfit, not be the focal point of it.

Watches are a good addition to your outfit, but flashy earrings are not. Try to be conservative.

Over time, you may find yourself experimenting with more trends and styles. However, if you are doing a presentation for the first time, remember that it’s always better to play it safe so you don’t risk dressing inappropriately. A final tip is to coordinate your outfit well with your team, and always remember to dress comfortably.

Feel confident in your attire and let that confidence shine through to your presentation. Good luck!

written by FELLY LIANG designed by CAROL WONG photographed by FELLY LIANG & CAROL WONG

16

Thanks to Tsega MacDonald and Leslie Chiang for modelling.

written by KYRA CUSVELLER designed by CHRISTINA STEFANIUK & CAROL WONG

FALL FLAVOURS:

APPLE PIE FALL—CRISPY NIGHTS, CHANGING LEAVES, AND THE RETURN OF PUMPKIN SPICE EVERYTHING. Now, I will be the last person to complain about the season of pumpkin. But, with the pumpkin spice latte returning to the Starbucks menu earlier every year, I think it’s safe to say that, come October, we all deserve a bit of a break. Unfortunately for your tireda taste buds, Thanksgiving is just around the corner, which means even more pumpkin, this time in the form of pie.

Lucky for you, however, Lazy Faire has your back. While every white girl on your Instagram feed is hashtagging #PSLove on a picture of a Starbucks cup, you can up your taken. Apple pie is like pumpkin pie’s cute and totally underrated best friend. Arguably healthier (you can see the slices of fruit!) and accompanied by better toppings (ice cream!

Cheddar cheese! Whipped cream!), apple pie holiday season. You could pick one up on the way home for the holidays, or you could really impress your mom and make this one from scratch.

INGREDIENTS Pastry: ¾ cup

shortening

¾ tsp 5 tbsp

salt ice water

DIRECTIONS

1 2

shortening until pea-sized chunks form. Sprinkle Mix until dough begins to come together. Gather knead each ball into a ¾ inch thick disk.

TIP: YOU CAN MAKE THE PIE CRUST AHEAD OF TIME AND FREEZE IT. JUST REMEMBER TO TAKE IT OUT TO THAW BEFORE YOU START BAKING!

3 4 5

Filling: 5

¼ cup ¼ cup 2 tbsp 1 tsp ¼ tsp

large apples, peeled and thinly sliced white sugar brown sugar all-purpose flour cinnamon nutmeg

TIP: PRACTICALLY ANY TYPE OF APPLE IS SUITABLE FOR APPLE PIE— FEEL FREE TO EXPERIMENT!

6 7 8 9 10

Wrap each disk in plastic, then refrigerate until chilled (at least 1 hour).

Remove 1 disk from the fridge. Placing it on a pin, roll dough out from the center until it forms a 13-inch circle.

Place this circle into a 9-inch pie plate to form the bottom crust. You can use a sharp knife to trim the edges as needed. nutmeg. Peel and slice apples, and place in a large bowl. Toss apples with sugar mixture until apples are coated. Scrape out into the pie shell.

Roll out the second disk of dough into another 13-inch circle. Drape over the apples, being careful not to stretch it.

Trim to size, and pinch top and bottom pastry edges together. Use a fork or sharp knife to cut steam vents in the center of the pie.

Bake in the oven for 15 minutes at 425°F, then reduce the heat to 350°F and bake for an additional 40 minutes.

Remove from oven and let cool on wire rack.

17

Streamlining Group Dynamics

written by THOMAS YONAN designed by SHIRLEY DU

Group work is a focal point at the School of Business, and for good reason; students build interpersonal skills from working with others that cannot be gained in any other way. Often these skills are born from being forced to work through difficult situations; for example, when your group members are chosen for you. But it is key for your development as a student and as a future part of the work force to be able to listen to others and articulate your ideas effectively. This guide aims to develop a framework in two parts from which you can streamline your process of working as part of a team.

Develop Your A-Team There are three overarching characteristics of effective teams: Individual roles and capabilities have been defined, mutual respect allows for positive criticism and discussion of ideas, and the team is unified by clearly stated goals and objectives. If each of these areas are maintained, your group will be better positioned to reach your highest potential.

Team roles and dynamics are the foundation of any group project; groups that have not clearly defined the strengths and weaknesses of each member have a much greater probability of clashing when reaching decisions on key issues. It is important to determine the members of your group who excel at working with numbers, writing up documentation, and presenting. Often it won’t be so clear as to who will fill each role, but if you open up the discussion from the beginning, you will be able to allocate tasks more efficiently later on.

Respect for your fellow team members is critical during idea development and decisionmaking. In certain situations where your group is chosen for you, it is important to accept that you may not like working with the individuals you are paired with. Learning to set aside your personal feelings in order to come together to reach a strong outcome is an essential part of what it means to be a professional.

Setting clear goals and objectives maintains unification in the group and allows for tasks to be completed in a timely and organized manner. All assignments should be read and discussed as a group in order to make certain that each member has the same understanding of the project. It is good to identify each individual’s goals as well – Do you want to achieve an A in the class? Does one of your members only desire to pass?

Being absolutely transparent about your personal objectives is a way to develop trust among people you have not worked with before.

Power, Point & Shoot!

On November 19th and 20th, Lazy Faire photographers will be set up in Tory Atrium to take group photos after your BUS 201 presentations for a small donation! With all proceeds going to a charitable organization, this is a great way to get professional grade photos of you and your team while supporting a good cause!

Your Guide to: Group Projects 18

When: November 19th and 20th Where: Tory Atrium (See our ad at the back of this month's issue for more information!)

THANK YOU FOR YOUR SUPPORT!

Scheduling and Efficient Task Allocation As business students, your schedules are often completely full and as such, it is critical that you stay on top of finding meeting times that work and that deadlines are set and understood. Meetings should generally be used for going over each part of the assignment, assigning roles and tasks, and discussing and maintaining goals.

Keep in mind that your projects should convey a unanimous opinion between group members in both your presentations and written work. This is why it is critical that differences of opinion are ironed out during meetings so that once your team begins to work on their own they maintain continuity. Using Facebook and Google Docs to communicate can be useful, but all major decisions regarding the direction of your project should be done in person with all of your members present. This lowers any chance that a group member feels as though their opinion has been disregarded by the rest of the group. Ideas should generally be weighed in terms of how much your group already knows on the subject, if source documents are easy to obtain (the librarians are especially useful for this), and how well the idea fits into the marking rubric. Try to shed personal feelings and asses the ideas empirically.

When finding a place to meet on campus, try to find a room that has a whiteboard it can be used for brainstorming.

Often all of the private study rooms in Winspear Library will be booked solid, so don’t forget to check the University’s Library page where you can book rooms in many of the libraries on campus.

Allocating tasks should be a matter of making use of each member’s personal skill set. If an individual has expressed they are proficient in math–perhaps they are finance major–then it would make sense for that person to work on the numbers of you business plan for example. If another member is very confident and enjoys speaking in front of a room, have them open and close your presentations as to give the strongest impression on your audience. If finally you have someone who is best with written words, nominate them to be the final editor for your written documents – it is much more efficient for one person to look over your final work and helps to maintain fluidity and consistency in the structure of your paper. Often these roles will become apparent during your initial discussion of the assignment.

Guide to Difficult Group Members The No-Show It’s a given that some students will have an overloaded schedule, and accommodations need to be made in order to have quality group time. However, if a member cannot make meetings, arrange for them to complete tasks through Google Docs, and perhaps choose to make group meetings more infrequent. Ignoring scheduling problems will only make matters worse, so make sure to maintain clear communication about dates and deadlines.

The Dictator There could be an individual who is not willing to collaborate in your group, but learning to deal with them is an important life skill. Often they will not realize that they are being overbearing and uncooperative, so tact should used when addressing them. Start by calmly addressing the difference of opinion between the member in question and the rest of the group. If it is possible, negotiate until you are able to find a compromise that suits everyone.

The Slacker If you have a group member who is not pulling their weight, it is important to know if it's because of an overloaded schedule or if they are too shy to fully participate. It is best if you are able to find out why the slacker is not participating and do your best to intervene through direct and open communication. Letting misunderstandings pile up will just make things worse. You may have to schedule a discussion with everyone in the group, or refer to external help for further guidance.

19

how to pull off a

stellar PRESENTATION DESIGN

Every new semester at the School of Business is usually accompanied by a wide array of presentation-related assignments, projects and extracurricular activities. To help you hone your presentation skills, the Lazy Faire team has compiled a few pointers that are easy to implement and practice.

20

1 2 3 4

USE YOUR OWN TEMPLATE. We’ve all gotten used to and/or insanely bored with the old Microsoft PowerPoint pre-made templates that you presentations by giving the templates a fresher look – make your own!

PowerPoint has a number of inherent tools that let you design and create your own templates.

USEFUL TOOLS. While building your templates, try utilizing the “Gridlines” and “Guides” tools under the “View” tab. It auto adjusts text boxes, pictures, graphs, and charts whenever you are clicking and dragging to gauge distance, height, level, and spacing.

THERE IS SUCH A THING AS TOO MUCH TEXT! One of the most prominent mistakes that students make on their power points is putting too much text on their slides. The more text there is for the audience to read, the less the audience is listening to and paying attention to you. You want their focus to be on you and your words, not the words on the slide.

SMART ART. Smart Art is extremely effective, but only when used sparingly. Try using Smart Art when you need to express ideas or processes through a simple picture or chart. It can save you from the danger of having too much text by helping you to reorganize and

eye contact with your audience (or the more important members of the when you are presenting as part of a group or a team, make sure that you look and feel engaged in the presentation even when it isn’t your turn to speak. Remember that body language is everything when trying to make an impression on your audience.

EYES OFF THE SLIDES. Never read off your slides directly. To do so indicates

2 3 4 5a

henceforth in the idea you are trying to convey to your audience.

PREPARATION IS KEY. Know your presentation inside and out. Anticipate questions before the presentation date and prepare yourself to answer these questions. During a question-answer period, nothing is more satisfying than when one of your anticipated questions is handed to you on a silver platter. Take these freebies and capitalize on the easy ones.

PRACTICE MAKES PERFECT. Practice, practice, practice… we can’t stress of the presentation. The difference between someone who has practiced their presentation and someone who hasn’t is extremely obvious when they’re in the spotlight. Practice in front of friends, peers, or family – someone you trust to give you the hard, fast truth.

ENGAGE THE AUDIENCE. It is always important to make sure your audience is engaged in your presentation. There are many ways to do this: Tell stories. Use stories or analogies to convey your idea. The better you can relate to the audience, the greater the chances are of making your idea stick.

b

Convey emotion. Even though this might be just another business presentation, make sure you build audience rapport by showing them you’re a human being. Be excited and SOUND excited when there’s a particularly important point that you want to drive home. Change up your tone of voice throughout the presentation.

c

Technology is your friend. Use it as a tool to bring a new light to your presentation. Short videos and interactive applications can pique your audience’s attention quickly. Just be careful that the technology works before the presentation. There is nothing worse during a presentation.

6 7

PRESENTing

r

1

BODY LANGUAGE is perhaps the most important aspect of any presentation. Your body language tells the audience everything about you. Stand up straight and face the audience during the presentation.

TELL THEM WHAT YOU’RE GOING TO TELL THEM… then tell them what you told them. This piece of sage advice is heard everywhere throughout business school but is commonly misinterpreted. It does not mean repeat yourself three times and hope for the best... it simply means to: Prepare your audience for your idea. Tell them the idea.

Provide them with an example or application of the idea.

CONFIDENCE is essential to any presentation that you will ever do.

Believe in yourself and your ability; YOU are the expert at your topic and YOU are the one who has poured endless hours of work and brainpower into creating your masterpiece. Be proud of what you’ve built and have faith in your ability to convey your thoughts to the audience.

written by LOUIS LIU designed by CAROL WONG

21

LAZY CHAT

Nish

Makwana

MIS GURU This month, Lazy Faire took a Sunday afternoon

whaT are your plans for life afTer business school?

liTTle more abouT ThaT? n:

n: Thanks for joining us Today, nish. for Those of us who maybe haven’T meT you before, why don’T you Tell us a liTTle biT abouT yourself? n:

you menTioned earlier ThaT There aren’T very many mis majors in The school of business. whaT aTTracTed you To mis To begin wiTh? n: whaT would you say is The biggesT Thing you’ve learned from This pasT summer? n:

you spenT The pasT summer in ToronTo for an inTernship – would you Tell us a

written by KYRA CUSVELLER designed by CAROL WONG photographed by MICHAEL ZHANG

22

11.19/11.20

POWER, POINT & SHOOT TORY ATRIUM $1/

100%/

1:00pm to 5:30pm

minimum for a single professional headshot

of donations go to Prostate Cancer Canada

11.20/

$5/

OPEN/

10:00am to 3:30pm

minimum for 3 group photos (props included)

to students of any faculty

11.19/

PleAse vIsIT OUR FACebOOk PAge FOR MORe InFORMATIOn

MAGAZINE

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