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Summer 2016 | ISSUE N0.2

Entrepreneurship Focus Students and Alumni Take the Plunge

The Case Competition Program A Look at the 2015–2016 Season

UPEI Summer Program in Business Studies An Exciting New Offering SUMMER 2016 |

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LEARN

what it takes

to be in

BUSINESS

BUSINESS INTELLIGENCE FRAMEWORK Banking & Finance

Business Organization and Opportunities

5P’s of Marketing

Understanding Financial Statements

Professional Selling

Customer Service

Personality Assessment and Communication,

Legal World

Personal Branding

Insurance Protection Savings &

Real Estate Valuation

Fraud Internal Control

Addiction & Substance Abuse

Enroll today, your work experience will now be the substitute for the normal prerequisite courses! Business 371 Entrepreneurship & New Ventures and Business 468 Self 7 Employment - Behind the Scenes wanting a greater appreciation for the entrepreneurial spirit and to gain an understanding of how business really works. classroom to witness a very practical learning environment with all course content delivered in a true storytelling manner.

Presenting Sponsor

Please contact Brenda MacLean at 902.566.0626 or 2 blmaclean@upei.ca for registration particulars | ENGAGE | UPEI SCHOOL OF BUSINESS MAGAZINE


The UPEI AlUmnI AssocIAtIon is proud of its growing network of 24,000 alumni living and working in more than 50 countries. With eight UPEI AlUmnI And FrIEnds chapters and wonderful alumni benefits there are many reasons to stAy connEctEd.

alumni@upei.ca 902-566-0687 upei.ca/alumni @UPEIAlumni UniversityofPEI UPEI Alumni Association

ENGAGE | UPEI SCHOOL OF BUSINESS MAGAZINE

CONTENT

Page

Message from the Dean

2

Dean’s Honours Awards

2

Another Win for UPEI

3

Seven Things Every Business Student Should Know

4

UPEI Business Society

5

Business Students Excelling in Sport

6

How was your time at UPEI?

7

UPEI Summer Program in Business Studies

8

EMBA Book Club

10

Case Competition Program

12

Enactus Making a Difference

15

Co-operative Education Celebrating 20 Years 16 of Student Success A look at the Economics of Cycling

17

Entrepreneurship Boot Camp 2016

18

Art in the Medium of Homes

18

Success is Brewing

19

LaunchPad at UPEI

20

Building Relationships at UPEI

22

Faculty News

24

Green Crab Research

25

CBT4CBT Gaining Traction with Addictions

26

Insights into Executive Compensation

27

UPEI Ambassador in China

28

Alumni Profile Kevin Ladner

29

ENGAGE is published by the School of Business at the University of Prince Edward Island. Editor: Mary Whitrow Contributors: David Atkinson, Dr. Andrew Carrothers, Hannah Dawson, Rebecca Dawson, Ken DesRoches, Dr. Gary Evans, Dr. Adam Fenech, Dr. Susan Graham, Amber James, Dr. Blake Jelley, Dr. Juergen Krause, Dr. Tarek Mady, Lukas Marriott, Megan McLean, Allison Ramsey, Dr. Tina Saksida, Dr. Sophie St-Hilaire, Jack Sturz, Patricia Uptegrove, Mikey Wasnidge, Barbara Weeks, Alex Whalen, Trevor White, Mary Whitrow Photos: Centre for Health and Community Research, Enactus UPEI, Launchpad PEI, UPEI Business Society, UPEI Co-operative Education, UPEI Marketing and Communications, Upstreet Craft Brewing, Dr. Andrew Carrothers, Dr. Adam Fenech, Amber James, Kevin Ladner, Allison Ramsey, Jack Sturz, Patricia Uptegrove Designer: TechnoMedia Inc. On the cover: (L-R) Jessica Smith, Cullen Mullally, Teresa Tu, Vernatius Okafor, Sara Ashnaei Special thanks to UPEI Marketing and Communications and the Office of the Dean for their contributions. For all inquiries: School of Business, University of Prince Edward Island 550 University Avenue, Charlottetown, PE, Canada C1A 4P3 Tel: (902)566-0564 Email: business@upei.ca www.upei.ca/business SUMMER 2016 |

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Message from the Dean I

t is a pleasure to report on all the remarkable achievements our students and faculty at the UPEI School of Business have accumulated during the past year. Experiential learning remains an important aspect of our curriculum, and we support programs that engage students in this way. We are particularly proud of the outstanding efforts and successes of our student teams at national and international case competitions. We continue to create partnership opportunities with businesses, institutions, and organizations that provide learning and work opportunities for our students. Our expanding Co-op program and partnerships with the local community for inclass projects are shining examples of this. Entrepreneurship is another important area we support and value. Many of our alumni and recent graduates have successfully established entrepreneurial ventures by taking advantage of benefits like the MacLauchlan Scholarships in Entrepreneurial Leadership, services like the “Launchpad” Entrepreneurial Suite, and programs like the “Entrepreneurship Boot Camp” at UPEI.

Student engagement and community support continue to grow. The executive team of our student-run UPEI Business Society has expanded to include more international students, and the various initiatives of ENACTUS were brought into the community and created positive change. Also, our new Summer Program in Business Studies for international students was launched with a group of students from India.

Juergen Krause MSc, PhD - Dean

This year, in addition to further refining our curriculum, our faculty members secured significant funding to expand ongoing or initiate new research programs, established international collaborations with prestigious institutions, and won awards for their publications. The School of Business provides programs and courses that address the requirements of today’s changing business environments, while working toward the wellbeing and growth of our students and our local and global communities. I invite you to study this year’s issue of Engage and explore all that our School of Business has to offer.

Dean’s

Honours Awards Author: Mary Whitrow

T

he UPEI School of Business is very proud to have held its Dean’s Honours Awards celebration for the third consecutive year at Government House with His Honour, the Honourable H. Frank Lewis, Lieutenant Governor of Prince Edward Island, and Her Honour, Mrs. Dorothy Lewis. In the fall of 2015, 84 students received Dean’s Honours distinction, achieving an average of 80% or higher in their courses in the previous academic year. A group of outstanding students received 20 awards that recognized their academic performance, leadership, entrepreneurship, community service, and hard work.

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| ENGAGE | UPEI SCHOOL OF BUSINESS MAGAZINE

Photo: (L-R) Dr. Juergen Krause, Dean of Business, Jessica Smith, Erin Devine, Luke Gaudet, Hannah Dawson, Christiana Tweedy, and Lieutenant Governor H. Frank Lewis

The awards were presented by Lieutenant Governor Lewis and Dr. Juergen Krause, Dean of the School of Business. Their Honours provided refreshments for students and families, and once again demonstrated their generous hospitality. The School of Business thanks their gracious hosts and congratulates students on their successes.


Another Win for UPEI Author: Dave Atkinson

U

PEI School of Business student Jessica Smith won the top prize at the 2016 Estey Undergraduate

Essay Competition, sponsored by the University of Waterloo. The Estey Competition gives students, who have demonstrated an interest in ethics in the areas of business or accounting/finance, the opportunity to submit a research paper for a chance to win $500 and present their paper at the 2016 Canadian Academic Accounting Association (CAAA) annual meeting. The review process is “blind” in that reviewers know neither the name nor university affiliation of the author. Jessica’s paper, “The Ethics of Social Reporting,” was chosen from a large number of submissions from universities across Canada. This marks the fifth straight year in which a UPEI student has won the Estey Competition (2012-2016), after three second place finishes in the years prior (2010-2012). Karen Wight and Jessica Smith

“I am incredibly thankful to be this year’s recipient of such a prestigious award and to be recognized on a national level. This has validated my hard work and passion for business, and I am very proud that I was able to represent UPEI in this competition. Thank you to my professor, Karen Wight, for being part of what I consider my biggest accomplishment this academic year.” – Jessica Smith “Jessica is an incredibly talented individual, and it was a pleasure to have her as my student over the past year. She brilliantly represents the talent of her classmates in the accounting specialization at UPEI and we are so proud of her.” – Karen Wight, assistant professor of accounting and Smith’s faculty advisor

“The success we have seen in the Estey Competition over the past eight years is very impressive. It demonstrates the quality of our accounting department and the strength and effort of our students.” – Dr. Juergen Krause, Dean, School of Business

UPEI at the Estey Undergraduate Essay Competition 2016 Jessica Smith, 1st place, “The Ethics of Social Reporting” 2015 Ashton Murray, 1st place, “The Impact of Board Gender Diversity on Corporate Governance and Financial Performance”

2014 Kyle Smith, 1st place, “Tax Havens – Smart Planning or Unethical Tax Evasion”

2013 Rebecca Nieuwhof, 1st place, “Financial and Ethical Considerations of Food Taxation”

2012 Janell MacDonald, 1st place, “Microfinance in the Modern World”

Kristina MacLean, 2nd place, “Women in Accounting: Ethical Issues Surrounding the Advancement of Female Accountants”

2011 Luke Rowledge, 2nd place, “Can Company Leadership or ‘Tone at the Top’ Actually Influence Employee Ethics?”

2010 Laura Moore, 2nd place, “The Influence of Auditor Gender in Ethical Decision Making” SUMMER 2016 |

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Seven Things

Every Business Student Should Know Author: Hannah Dawson (Fourth-year business student, Co-president of the UPEI Business Society, and member of the UPEI Case Competition team)

1. Get access to Moodle and your UPEI email address—pronto!

4. Check out the perks of being a student.

Being a student comes with benefits!

Moodle is an online resource where

UPEI Business Society members get

important course documents are posted

discounts at many local businesses, your campus ID doubles as a bus pass, and students get

(think syllabuses, study resources, and even online quizzes). Don’t wait until mid-September

a discount on groceries on Tuesdays. Make sure you

to check out this important tool. Your acceptance letter

take full advantage! University can be expensive.

should have instructions about how to access email and Moodle; if you need someone to show you, you can always contact the UPEI Business Society to have another student help you out.

5. Keep an eye on your finances.

2. Get involved! Check out @UPEIBusinessSociety, @EnactusUPEI, and @UPEISU on social media for all kinds of options.

$

scholarships and bursaries; many go unclaimed every year. There’s only one

time in your life when you can write a nice letter about yourself and be rewarded with money—don’t miss it. The fall bursary deadline is October 1, so head over to upei.ca/scholarships. For student jobs, google “UPEI Employment.” Also, remember to pay your tuition

You’ve heard this before, so this advice may sound like a cliché. But it’s true—

by September 16th (or fill out an extension form);

getting involved is the best way to make

otherwise, you’ll pay a late fee.

new friends, have fun, and get the most out of your university experience. Engaged students have been shown to do better in their classes. Keep an eye out for the society fair during the first week of classes;

6. Pick your courses wisely.

If you haven’t already, you can stop by the First-Year Advisement Centre in Kelley

there’s truly something for everyone.

Memorial Building for advice about which courses you need. When choosing electives, take the

3. Speaking of classes, don’t wait if you need help.

First, remember to keep applying for

time to read over course descriptions on the UPEI Programs and Courses webpage and see what might suit you best. Think strategically if you already know an

It’s incredibly easy to procrastinate in

area of business that you want to specialize in. If not,

university. Many classes don’t have a big

don’t worry — there will be plenty of time to figure that

assignment or test until the first midterm exam,

out once classes start.

at which point it can seem hard to catch up. Make a note of when all of your midterms are, and don’t hesitate to reach out to your professor if you need clarification. For

7. There’s help if you need it.

even more help, check out UPEI Academic Coaching, the

If you need something, ask. UPEI has

UPEI Math Help Centre, the UPEI Writing Centre, or the

amazing support services available to

UPEI Tutor Bank.

students. No matter what your problem

is, you can probably find someone to help you.

Student Affairs, located on the second floor of the W. A. Murphy Student Centre, is a good place to start.

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| ENGAGE | UPEI SCHOOL OF BUSINESS MAGAZINE


UPEI

Business Society

Author: Hannah Dawson (Co-president of the UPEI Business Society)

T

he UPEI Business Society has long been a valuable part of the university experience for students in the

School of Business—organizing initiatives that enhance the student experience, benefit the community, and promote

Business Society students at the annual PEI Brewing Company beach volleyball tournament.

lasting relationships between students, faculty members, and local business leaders.

In the spring of 2016–2017, our society will celebrate an important milestone—the 40th annual Business Society

Since its inception, the society has worked to reflect

Luncheon. This flagship event will commemorate four

the changing interests of the students we represent.

decades of collaboration between the Island business

The executive team includes two international student

community and members of the UPEI School of Business.

representatives, representatives from each graduating

We invite alumni, students, faculty, and business people to

class, and—new in the 2016–2017 school year—a

celebrate with us. Please contact us for ticket reservations

business representative elected to the UPEI Student Union.

and sponsorship opportunities.

We are excited to build on many successful events: our longstanding interclass food drive, our annual

Stay in Touch!

golf tournament, our beach volleyball tournament, the

Instagram: @UPEIBusinessSociety

increasingly popular Frozen Four Inter-Faculty Hockey

Twitter: @UPEIBusSociety

tournament, and numerous other social events. The UPEI

Facebook: Facebook.com/UPEIBusinessSociety

Business Society will continue to give business students

Email: UPEIBusinessSociety@gmail.com

the chance to have fun, meet new people, and achieve in

Phone: (902) 566-0407

academia and in business.

The UPEI Business Society Scholarship We extend sincere congratulations to the co-winners of the 2016 Business Society Scholarship: Dylan Beck and Luke Rayner. Selected by their peers for their engagement and commitment to student life, the two students graduated from the BBA program in May 2016. Kevin Ladner, executive partner and CEO of Grant Thornton, giving the keynote speech at the 2016 Business Society Luncheon.

SUMMER 2016 |

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Business Students

Excelling in Sport Author: Ken DesRoches

V

arsity athletes strive to achieve the coveted recognition

In both arenas, students must demonstrate discipline,

that comes with Canadian Interuniversity Sport (CIS)

commitment, adaptability, and time management. They also

Academic All-Canadian status. To achieve that distinction, a

must be able to practically execute skills and techniques they

varsity athlete must have an average of over 80% in his/her

have been taught, and work with others in a team setting to

studies while playing a varsity sport. This is a considerable

achieve a common goal.

accomplishment, requiring a significant level of commitment and discipline from student athletes.

In commenting on the balancing act that dual engagement requires, CIS Academic All–Canadian athlete Nick Parker,

Classes, studying, and assignments for a full course load

UPEI Panther men’s hockey team, notes, “It is a challenge

require at least 40 hours of work per week. On top of that,

all right, but that’s what we are here for—to prepare for the

engagement in the sport of choice requires daily conditioning

challenges life will bring.”

and practice, with additional time needed for competitions and travel. Furthermore, many varsity sport teams are involved

Rosa Wagemakers, a CIS Academic All-Canadian athlete

in projects that support various worthwhile community

and a member of the UPEI swim team, says, “The reward

activities.

that comes from dual engagement is represented by good friends on your team and in the classroom, and the feeling of

In the 2014 –15 academic year, 81 athletes in varsity sport

accomplishment that comes with a game well played and a

disciplines at UPEI achieved CIS Academic All-Canadian

solid course mark. It all adds up to a sense of confidence that

status. That achievement placed UPEI in the top five

brings hope and strength for the future.”

universities in Canada when it comes to the combination of students’ excellence in the classroom and achievements in

Chris Huggan, director of UPEI Athletics and Recreation,

varsity sport.

says, “Success for students is built through active

Of the 81, 50 (about 63%)

engagement in all aspects

are pursuing their degrees in

of the university experience.”

the School of Business. This

The Dean of the School of

does not come as a surprise,

Business, Dr. Juergen Krause,

as success in both varsity

agrees with Huggan. “All of

sport and the business

us in the School of Business

program (and in business

are extremely proud of the

after graduation) requires

accomplishments of these

many of the same personal

young men and women.”

attributes. Nick Parker

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Rosa Wagemakers

| ENGAGE | UPEI SCHOOL OF BUSINESS MAGAZINE 2014–2015 UPEI Student Athletes


How was your time at UPEI? Author: Trevor White

P

eople often ask me, “How was your time at UPEI?” Since graduating in May of 2015, I always use one word to describe my four meaningful

years in Charlottetown—supportive. What I truly love about UPEI is the fact that I came in with big goals, and with the help of faculty, coaches, teammates, and fellow students, I achieved them. In my first year, I was chosen to play on the UPEI varsity soccer team. It was my ambition to be a starting goalkeeper, but in my first game, I realized

Trevor White graduated with the Frank H. Sobey

that my skills did not meet the standard for the position. So I asked older

Excellence in Business Award, the W.T. Fulford Fellowship,

players on the team to take shots on me after practice. I spent many morning

the CPA of PEI Leadership Award, the RBC Centennial

hours with my goalkeeper coach, improving my technique (he would come

Leadership Award, the George T. Fulford Memorial

in to train me before he started his workday; I am so thankful to him for this).

Award, and a MacLauchlan Prize for Effective Writing.

The relatively small size of UPEI made it possible for me to build significant

He is currently working toward his Master of Professional

relationships with my coaches and fellow players. I’m proud to say that through

Accounting degree at the University of Saskatchewan.

all the support and hard work, I became the starting goalkeeper in my first conference final later that year. Simultaneously, as a student in the UPEI School of Business, I was successful in becoming part of UPEI’s Case Competition program. I received one-onone mentoring and teaching from faculty members and my case competition coach. I became a quality competitor at the international level and won a couple of competitions with my team. I also pursued an accounting specialization and had accounting professors give me one-on-one career

Trevor with his three Case Competition team members (L-R) Erin Devine, Cait Wright, and Malary Schurman.

advice when I was applying for jobs. Again, the focused attention I received would have been very difficult to come by at a larger university. I feel so fortunate to have attended UPEI, a smaller university, because of the support I received. Not only did I feel nurtured during my academic and athletic experiences, I felt challenged to be a better student and individual. None of these experiences would have been possible without individuals from UPEI who helped me to be the best version of myself. Thank you, UPEI. Sincerely, Trevor White, BBA

SUMMER 2016 |

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UPEI Summer Program in Business Studies Author: Dr. Tarek Mady

A

cohort of seventeen students and three representatives from two universities in India

attended the inaugural UPEI Summer Program in Business Studies. Students from Kantha Vibhag Navnirman Mandal and Uka Tarsaida University were on campus between May 29 and June 11, 2016. The aim of the new two-week program is to foster knowledge exchange and to provide international students, many of whom are studying in areas other than business, with an overview of some of the many important topics in today’s business environment. Specific topics covered included globalization and international business (Dr. Tarek Mady), marketing (Dr. Susan Graham), evidence-based management and organizational behaviour (Dr. Tina Saksida), the role of government in business (Ken DesRoches), the impact of climate change on business (Dr. Adam Fenech), and negotiation and conflict management (Tim Carroll). Students expressed great satisfaction with the program and individual classes. All felt that they left with a wealth of knowledge and a genuine appreciation for issues facing the world and

Pratik Bhandari

businesses today.

“It was a great experience to study at UPEI. The faculty members were excellent, and we learned so much about business from them. The atmosphere at UPEI was amazing, and I’m thankful to my university, UTU, and to UPEI for giving me the opportunity to learn more about the world we live in.” – Devarsh J. Shah, UKA Tarsadia University During the visit, students were exposed to a host of exciting events and activities. They explored historic Charlottetown and learned about its significance as the birthplace of Canadian Confederation. They participated in a full-day excursion on the Island and experienced ice hockey for the first time. (L-R) Kareena Thakkar, Ekta Patel, and Jhanvi Patel

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| ENGAGE | UPEI SCHOOL OF BUSINESS MAGAZINE


Back row (L-R): Neel Patel, Professor Ken Desroches, Hussain Parmar, Professor Hardik Prajapati, Pranav Vansadia, Vishal Patel, Dean Juergen Krause, and Dr. Tarek Mady

Middle row (L-R): Rohan Changawala, Divyesh Joshi, Deval Patel, Devarsh Shah, Harsh Shah, Yash Shah, Pratik Bhandari, Vaibhav Patel, and Tanya Agrawal

Naturally, a game of cricket was organized! Students also toured and experienced many local businesses including the PEI Brewing Company, Glasgow Glen Farms, Cows Creamery, and Rise and Climb Adventure Park. “I loved exploring PEI. I especially enjoyed the activities that were planned for us. I will always treasure the memories I made while visiting UPEI,” notes Henal Parikh, Kantha Vibhag Navnirman Mandal. A highlight of their visit included a special visit to Government House, where they met with His Honour, H. Frank Lewis, Lieutenant Governor of Prince Edward Island. A closing ceremony was held on June 10, during which Dr. Juergen Krause, Dean of the School of Business, presented the students with certificates of participation and tokens of their visit to UPEI. A farewell dinner, featuring traditional Indian cuisine, was held later that evening at Papa Joe’s Restaurant.

Front row (L-R): Pooja Kumar, Dr. Tina Saksida, Dr. Susan Graham, Kareena Thakkar, Professor Avnindra Dixit, Professor Chandni Vadera, Mili Patel, Ekta Patel, Jhanvi Patel, and Henal Parikh

“The best part was that it felt like home. The UPEI School of Business was so welcoming. The Islanders we met have a very special place in my heart.”

– Pranav Vansadia, UKA Tarsadia University

The UPEI School of Business plans to offer this exciting program annually, with strategies in place to draw students from all over the world to learn about the latest business topics, interact with world-class business professors, experience UPEI’s wonderful atmosphere, and the natural beauty of PEI. “Hosting these students from India during our first summer program for international students was a rewarding experience for our faculty and staff,” says Dr. Krause. “We are excited to make this a regular offering of the School of Business for the summer months.” Special thanks go to Ms. Brenda MacLean, Ms. Pooja Kumar, and Ms. Tanya Agrawal for their tireless organisational efforts and support throughout the program. SUMMER 2016 |

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EMBA

Book Club

I

n the fall of 2015, UPEI’s School of Business Administration launched the UPEI EMBA Book Club in

partnership with Indigo Bookstore. Engage spoke with the book club’s founder and moderator, Dr. Susan Graham, to learn more.

Where did the idea for the book club originate? The idea for a book club that focused on “business-related books” had been bouncing around my head for several years, but I hadn’t found the right format until early 2015, when the University challenged faculty and staff to find ways to give back to the community. I happened to chat with the coordinator of the EMBA program and brought up the idea of the book club. She loved the idea and so we

How does the book club actually work? People just read the book and show up at the scheduled time! I moderate the discussions, which really just entails asking some questions about the book and letting the participants steer the conversation in whatever way suits their interests. We never put people on the spot or worry about the “right” answers. We usually meet for a little over an hour, and it goes by quite quickly. We’ve even had a few people who hadn’t read the book or hadn’t read all of it, but who joined us anyway and found they were able to participate in the conversations and gain a lot from the discussions.

What books are you planning on including in the book club for the 2016 –2017 year? We are going to be reading David and Goliath by Malcolm Gladwell, Losing My Virginity by Richard Branson, How to Win Friends and Influence People by Dale Carnegie, and Grit by Angela Duckworth.

made it happen.

How do you select the books to include in the book club? My colleagues and I talk about books quite regularly – in our formal work-related conversations and also informally in the lunchroom or over coffee. So, some of the preliminary book ideas originated from those conversations. We tried to select a variety of books that covered different aspects of business and had an evidence-based approach but were also highly readable.

So which books did you choose for the first year?

Is the book club just for people in the EMBA program?

We read Give and Take by Adam Grant, which was

Absolutely not! The book club is open to anyone who is

my favorite book. My copy is littered with notes and

interested in joining us. People are welcome to come

highlights, and is completely dog-eared—which are

to as many or as few book club meetings as they wish.

signs that I loved the book. We also read The Purple

There is no obligation and no need to register. Just show

Cow by Seth Godin, who is a marketing guru. And lastly,

up! It’s the perfect excuse to commit to reading this kind of

we read The No Asshole Rule by Robert Sutton, which is

book on a more regular basis.

about how to manage unproductive interpersonal behavior in the workplace. All of the books were great and resulted in fascinating conversations at the book club meetings.

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| ENGAGE | UPEI SCHOOL OF BUSINESS MAGAZINE

Visit upei.ca/emba to find out more.


Yemi Olusoji, CPA, CGA Accounting Technician Arsenault Best Cameron Ellis

Michael Fitzpatrick CPA, CA Founding Partner Fitzpatrick & Co.

Danette Murray

Johnathan Doiron CPA, CMA, MBA Chief Financial Officer Charlottetown Islanders

Leigh Ellen Walsh CPA, CA PhD Candidate Schulich School of Business York University

CPA, CGA Financial Analyst Strait Crossing Bridge Ltd.

The Value of the CPA Designation

Jessica Shanahan, CPA, CMA Internal Auditor, ADL

Reggie Jameson, CPA, CMA General Manager MR Seafoods

Meet our CPAs or find out how to become a CPA by visiting cpapei.ca

“The EMBA program was a pivotal turning point in my career. It provided me with the confidence, skills, and solid business foundation I needed to start and run my own business. The evidence-based approach of the program has been instrumental in helping me navigate the many business decisions required of a start-up. My network of EMBA colleagues and friends has been invaluable; years after graduating, I still call on classmates and professors for advice, support, and collaboration.” — MITCH COBB, CO-FOUNDER AND CEO Upstreet Craft Brewing ..............................................................................................................................

UPEI’s executive MBA program offers a high-quality learning experience for working business professionals. Classes are offered bi-weekly on Fridays and Saturdays with the option to complete the program in 20 months. Central to our EMBA program design is an evidence-based management approach with specialized streams of study such as Innovative Management.

550 University Avenue, Charlottetown Prince Edward Island, Canada C1A 4P3 902-566-6474 | mba@upei.ca | upei.ca/mba SUMMER 2016 |

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2015–2016 Case Competition program

QUiCK faCts

The Upei sChool of BUsiness Case Competition program trains students to compete at national and international case competitions. Case competitions challenge participants (usually a group of four undergraduate students) to create the best solution to a business-related case study within an allocated time frame, typically three hours. Teams deliver their case solutions in oral presentation form to a judging panel of academic and industry professionals and then answer questions from the judges. UPEI students, who gain a full course credit for their work, study business theory and train in mock case competitions to prepare. They also are given one-on-one support from their coach and individual teaching from School of Business professors. The program provides an excellent opportunity for experiential learning, as it helps students grow their critical thinking and presentation skills, in addition to their practical business knowledge.

podiUm finishes 2011–2016

9 stUdents—1 CoaCh

2 regional Competitions

4 international Competitions

notaBle Competitors in 2016

U

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, egypt * University of M Cairo uns te niversity of Navarra

| ENGAGE | UPEI SCHOOL OF BUSINESS MAGAZINE

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12

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previoUs Competition loCations

finanCe

organizational BehavioUr

hUman resoUrCe management

ethiCs

marKeting

strategy

Halifax, NS Fredericton, NB Montreal, QC Ottawa, ON Kingston, ON San Antonio, Texas, US Victoria, BC

Leuven, Belgium London, England Kowloon Tong, Hong Kong

areas of foCUs aCCoUnting international BUsiness

LanoItaZInagRo RuoIVaHeB

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erin devine (2014 - 2016)

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BusIness InteRnatIonaL accountIng

2015–2016 resUlts Atlantic Schools of Business Case Competition, University of New Brunswick, Fredericton, NB 1 st 1st place: Hannah Dawson, John Donaldson, Kate Kinsman, Cullen Mullally 2nd place: Erin Devine, Robert McIsaac, 2 nd Harrison Wood, Bogdan Belomestnykh Scotiabank Ethics in Action Case Competition, Dalhousie University, Halifax, NS 2 nd 2nd place: Hannah Dawson, Erin Devine, John Donaldson, Kate Kinsman

“Being a member of the UPEI Case Competition team was by far the most rewarding and memorable experience of my degree. The training, coaching, and competitions provided me with real-world experience that can’t be taught in the classroom. I would highly recommend the Case Competition Program to anyone looking to enhance their degree and explore opportunities outside of their comfort zone.”

Inter-Collegiate Business Competition (ICBC) Marketing Event, Queens University, Kingston, ON 3rd place: Hannah Dawson, Luke Gaudet

Jeremy maCaUlay (2014 - 2015)

Network of International Business Schools (NIBS) Case Competition, St. Mary’s University, San Antonio, Texas, United States 2 nd 2nd place: Erin Devine, Megan Martin, Robert McIsaac, Harrison Wood

“The UPEI Case Competition class was the best course I took during my BBA. It was a course that took everything you were learning from a book and put it into a real-life scenario. It has allowed me to look at problems at work, and in my life from a different vantage point and really focus on the strategic and tactical solutions to solve them. Overall, the class allowed me to be a better critical thinker and was the icing on the cake of my four-year degree.”

3 rd

John Molson Undergraduate Case Competition (JMUCC), Concordia University, Montreal, QC Final round, top 6: Hannah Dawson, John Donaldson, Kate Kinsman, Cullen Mullally

Saint Mary’s University Case Competition, Halifax, NS 1st place: Hannah Dawson, Cullen Mullally

1 st

SUMMER 2016 |

13


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Fax: (902) 628-8808


Enactus

Making a Difference Author: Rebecca Dawson (2015–16 Vice-president of Enactus)

E

nactus is an international organization that encourages university students to promote economic,

UPEI students at the Enactus Canada National Competition 2016.

social, and environment health through entrepreneurial action. Over 1,740 universities across 36 countries are

Treeternity has been Enactus UPEI’s

involved in this global mission. Enactus is a unique club at

flagship project for a number of years.

UPEI because it runs year-round, even during the summer

It focuses on environmental education

months. With 25 active members and two faculty advisors,

and stewardship, including reforestation on PEI, and has

UPEI’s Enactus club is growing and always open to new

earned the creating team multiple awards. The project,

ideas, initiatives, or partnerships. This year, club members

which initially addressed the public outcry from the Plan

managed five student-created initiatives with guidance

B highway realignment project, is in partnership with the

from their faculty advisors. Contact enactus@upei.ca if

Government of Prince Edward Island. Treeternity members

you want to be involved as a student or partner!

visit PEI elementary school classrooms to teach children

Engine Education is a workshop that takes students from the UPEI campus into

the importance of protecting Island land, and at the same time, they inform them of the benefits and necessity of practicing green methods of living.

an auto repair shop, where they learn the basics of vehicle maintenance. This initiative,

Suitcycle, Enactus’ newest initiative,

in partnership with OK Tire, gives students the confidence

is a program aimed at helping students

necessary to complete simple auto maintenance, and

who need professional business attire for

knowledge when it comes to getting repairs done

the many presentations and interviews they will take part

elsewhere. The Engine Education workshop includes

in during their time at UPEI. In the winter/spring of 2016,

demonstrations of changing a tire, jump-starting a vehicle,

students and staff of the School of Business donated

checking/adding transmission fluid and oil, and checking

pieces of business attire that will be offered to students

tire pressure.

in the fall semester of 2016. The clothing is stored in Don

The Financially Fit program is

and Marion McDougall Hall on clothing racks graciously donated by the students of the Business Society.

designed to prepare PEI high school students for the financial demands that

The Unity Project is focused on

accompany post-secondary education. UPEI students

building a partnership with a village located

deliver 75-minute presentations about financial literacy,

two kilometres southwest of Archer’s Post,

financial planning, and the costs associated with moving

Samburu, Kenya, where 25 women and 35 children live.

out and attending a college or university. Financially Fit

The project focuses on the promotion of literacy and

strives to engage students and incorporate interaction

digital literacy among the women, who have created their

and collaborative learning in the classroom setting. In

livelihoods through the sale of clay Kazuri bead jewelry.

the 2015–16 season, UPEI students gave more than 10

The long-term goal of the project is that the women of the

presentations across Prince Edward Island.

village will become self-sufficient and be able to manage the sale of their goods online. The Unity Project team has sent the women a laptop with the applications necessary to ensure their success. SUMMER 2016 |

15


Co-operative Education

Celebrating 20Years of Student Success Author: Megan MacLean

I

n 2016, the Co-operative Education program at the University of Prince Edward Island celebrates 20 years

of student success and boasts over 400 graduates working across Canada and the world. The Co-operative Education program first began in the School of Business and then expanded to include computer science and physics; the aim is to see the program expand into all other faculties in the near future. The Co-operative Education program provides students with the opportunity to gain professional-level experience in their fields of study, participate in valuable professional development, broaden their industry and career networks, earn academic credits, test potential career options, and earn money to help pay for their education. Students can also take advantage of entrepreneurial work terms. Wendy Drake, principal and senior consultant with MRSB Consulting Services, was one of the first students to graduate with the Bachelor of Business Administration Co-operative Education designation at UPEI. “I feel fortunate to have had an opportunity to gain valuable experience, meet contacts, and establish relationships with great mentors through the Co-operative Education program. Years later, one of these mentors was instrumental in providing career advice when I was looking to move back to PEI. As a result, I started my career with MRSB Consulting Services.

“The Co-op program brings so many experiences and helps build invaluable connections. I highly recommend becoming a Co-op student and taking advantage of the opportunities ahead.”

2015 Co-operative Education Student of the Year Award winners (L-R): Jason Wuertz, computer science; Adam Lambe, business; and Deanna Kerry, physics.

It was through Wendy’s Co-operative work experience that she learned the value of networking and started attending local Chamber of Commerce mixers. Since then, she has become actively involved in the Chamber and recently served a term as president. This summer, over 60 students will participate in work terms locally, regionally, and nationally. In the future, the goal is to increase the number of students taking advantage of national and international work terms through the Co-operative Education program. For more information about becoming or employing a Co-op student, please contact the Co-operative Education Office at 902-566-0336 or co-op@upei.ca.

Wendy Drake, principal and senior consultant with MRSB Consulting Services

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A look at the

Economics of Cycling Author: Dr. Adam Fenech

T

he UPEI School of Business and the City of

The students were tasked with addressing a global issue

Charlottetown partnered to assess the economic

at the local level while making the Island a safer, healthier,

impact of cycling in Charlottetown in January 2016.

and environmentally friendlier place. Four of the thirteen

Business students in a third-year strategic management

participating student teams were selected to present their

course examined different components of Charlottetown’s

solutions for building a sustainable bicycling infrastructure

existing cycling infrastructure and programming to identify

and to compete for a $1,000 prize awarded by the City of

opportunities that would increase cycling and generate

Charlottetown in April.

economic growth. Projects included the value and impact of cycling programs for school-age children, the economic

“There are so many benefits of cycling for our residents and

impact of bike shares and bike rentals to Charlottetown’s

for our community as a whole,” says Charlottetown Mayor

tourism industry, and the return on investment for cycling

Clifford Lee. “From improved health to reduced air pollution

infrastructure upgrades including dedicated cycling paths.

and increased tourism potential, we value cycling in our city

The concept is based on the book, Bikenomics: How

and want to support it any way we can. We are hoping to

Bicycling Can Save the Economy, by Elly Blue. The book

gain some great ideas from this group of young minds that

examines the individual and societal cost of transportation

will identify some of the ways we can improve the cycling

and how people, businesses, and governments can benefit

experience in Charlottetown.”

from increased focus on cycling as a favoured method of transportation.

The winning proposal from team members Courtney Leblanc, Shiham Mahroof, Natasha Gouchie, Clayton Smith,

Working with Ramona Doyle of the Sustainability Office

and Carter Macdonald focused on a bike sharing program

at the City of Charlottetown, Dr. Adam Fenech, associate

for Charlottetown.

professor in UPEI’s School of Business, challenged his students to focus their business knowledge and skills on the economic benefits of growing Charlottetown’s bicycling infrastructure.

(L-R) Courtney Leblanc, Shiham Mahroof, Natasha Gouchie, Clayton Smith, and Carter Macdonald

SUMMER 2016 |

17


Entrepreneurship Boot Camp 2016 Author: Allison Ramsey

T

he Entrepreneurship Boot Camp, a new pilot project offered by the UPEI School of Business, aims to help undergraduates and alumni learn about entrepreneurship from local and regional entrepreneurs. This year’s event was held from May 2–4 on the UPEI campus and was generously sponsored by UPEI, Futurpreneur, and Propel ICT. Recent market research has shown that finding an idea, facing the fear of failure, and obtaining appropriate financing are three of the top five deterrents that graduates face when deciding whether to pursue an entrepreneurial career. The boot camp featured ten speakers, from Nova Scotia and Prince Edward Island, who shared their experiences and knowledge relating to these obstacles. Site tours were also organized at the FabLab, UPEI’s 3-D printing and prototyping lab; Bio|Food|Tech, a commercial food research and development facility; DME, a supplier of equipment to craft brewing customers; and Honibe, a manufacturer of honey candies, sweeteners, and lozenges. Students saw examples of entrepreneurship from the inside and heard about the many opportunities available to Island entrepreneurs. The Entrepreneurship Boot Camp gave domestic and international students, with study backgrounds that included engineering, science, arts, and business, the chance to make connections and network with inspiring and influential entrepreneurs. Almost half left with a plan to start a business.

Art in the Medium of Homes Author: Jack Sturz

J

ack Sturz was 16 when he started working toward his dream of owning his own business. By 19, he was able to scrounge together $15,000 by working as an employee for other contractors, and shoveling snow and mowing lawns, in order to buy enough quality tools to start his company, John Woodsmith.

Carrying case with two stained glass panels framed by four-year air-dried silver maple wood.

Jack crafts locally salvaged wood into unique one-of-akind pieces of furniture, and does home renovations and new residential construction. His motto is “art through the medium of homes,” and he brings the same level of craftsmanship and passion to his larger projects as he does with his custom furniture. Jack is excited about the success he has had so far, but he knows it has not happened without the help of others. In addition to the emotional support he regularly receives from his family and his girlfriend, Jack was one of the 2016 recipients of the Harry W. MacLauchlan Scholarship in Entrepreneurial Leadership. “Simply, I am very grateful to the MacLauchlan family for this vote of confidence in my hard work.”

Lead organizer Allison Ramsey is very pleased with the result of the boot camp. “Thank you to all who attended and made this year so successful. To our future entrepreneurs, we will see you next year!”

Atl anti c Can ad a's Star tu p Accel era tor

Honourable H. Wade MacLauchlan, Premier of Prince Edward Island, presents Jack Sturz with the 2016 Harry W. MacLauchlan Scholarship in Entrepreneurial Leadership.

18

| ENGAGE | UPEI SCHOOL OF BUSINESS MAGAZINE


Success is

Brewing Author: Mikey Wasnidge

U

pstreet Craft Brewing seems like an overnight success

“I’ve been a long-time fan of craft beer, but it wasn’t until I

story. Since opening its doors in June of 2015, the

tried the home brew made by my friend Mike Hogan that I

company has seen outstanding growth and support, already

saw the opportunity,” says Mitch Cobb.

doubling its craft beer production and exporting products to other provinces. Known mostly for its great beer, Upstreet Craft Brewing has also established itself as a leader in community engagement. Given Upstreet Craft Brewing’s recent rise to success, it should come as no surprise that the company is run by

“At that point I knew we could make great beer, but if it weren’t for my education from the School of Business, I’m not sure I would have had the confidence to tackle such an undertaking.”

alumni of UPEI’s School of Business—but it didn’t happen

Mitch joined forces with Mike Hogan and his long-time

overnight. The company’s CEO and strategic voice, Mitch

friend Joey Seaman, and the three of them spent two

Cobb, graduated from the EMBA program in 2012 and

years planning the ambitious task ahead of them. Fast

began teaching marketing at Holland College, where he

forward to today, and the three continue to build a company

inspired students to think outside the box. It wasn’t long,

that employs nearly 20 staff, including Mikey Wasnidge

though, before he decided it was time to change direction

(BBA’14) who helps them manage their marketing and

and embrace his entrepreneurial side. He wanted to focus

events. Upstreet Craft Brewing has brought new life to the

on something he was a little more passionate about – beer.

community and shows no signs of slowing down.

Upstreet Craft Brewing

SUMMER 2016 |

19


LaunchPad at UPEI Author: Amber James

U

PEI’s LaunchPad Entrepreneurial Suite is located in the Hostetter Centre for Enterprise & Entrepreneurship on the lower level of Don and Marion McDougall Hall. The LaunchPad offers space and resources to students trying to grow their ideas into businesses. Funded in part by the provincial government through InnovationPEI, the LaunchPad suite offers basic necessities such as space, desks, chairs, a white board, Internet, and phone to help young entrepreneurs “launch” their businesses. While these resources may seem basic, they can be critical to ensuring early-stage success. A current tenant of UPEI’s LaunchPad is entrepreneur Amber James (BBA’16), with her business, Gradpeek. Amber’s business, which is set to be fully functional by September 2016, is an online platform aimed at better connecting students and recent graduates with employers through the use of simple psychometrics and a searchable database. Students and recent graduates will be able to use the platform to create a profile and be invited to interview for jobs that may not even be advertised. Employers can benefit from searching key words to find candidates who meet their needs.

Prior to becoming a tenant of LaunchPad in 2015, Amber was struggling to find a convenient, private place to contact customers throughout her day at UPEI. “While other LaunchPad spaces are offered on PEI, having an office to make calls in between classes, right Amber James in McDougall Hall, helped me increase my productivity and advance my business.”

“It made my life as a student entrepreneur much easier.” Amber is currently working with Queen’s University to finalize Gradpeek’s 40-question “strength survey” selfassessment tool, which will identify candidates’ top strengths and help determine in which type of role they are most likely to succeed. Gradpeek’s goal is to bring self-awareness to students and recent graduates to increase their chances of finding relevant employment. In September Amber will move Gradpeek to the Startup Zone, a non-profit organization funded by ACOA that provides entrepreneurs with support and mentorship. Inquiries regarding Gradpeek can be directed to Amber at amber@gradpeek.com. Inquiries regarding the UPEI Launchpad space can be directed to Cody Clinton at ceclinton@gov.pe.ca.

Students have professional photos taken for their profiles inside the Gradpeek studio.

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| ENGAGE | UPEI SCHOOL OF BUSINESS MAGAZINE


SUMMER 2016 |

21


Ray Brow in Prince Edward Island and Omar Kandel in Egypt.

Building Relationships at UPEI Author: Patricia Uptegrove

O

mar Kandel and Ray Brow may seem, upon initial

He did so to show respect for the customary local business

introduction, unlikely to have met anywhere other

attire. “I met a gentleman in the elevator, cheerfully said

than at UPEI. Omar is a fourth-year business student from

‘Good Morning’ as all locals do, and had light conversation.

Egypt who came to UPEI after studying at international

We both got off on the same floor, went through the same

schools in Saudi Arabia. Ray is a seasoned business

door wherein the person I was going to meet said, ‘I see

veteran based on Prince Edward Island, who has built

you two have already met.’ The gentleman, who turned

independent and successful businesses around the world.

out to be a former premier, had no idea I was a Canadian

Although born and educated outside PEI, Ray is part of the

visitor because I looked and sounded the part of a

PEI landscape in business, day-to-day life, and local politics.

Bermudian.”

The two met at UPEI when Ray was invited to speak to a

Omar saw similarities to his home country of Saudi Arabia

fourth-year intercultural management course, taught by

and reflected, “When he told the story, in my head I’m

Professor Patricia Uptegrove, about the challenges and

saying, if I ever go to Saudi Arabia, I should wear a thobe

rewards of being an international entrepreneur. Some of

(traditional Arabic clothing)—it will be a better way to

the stories Ray shared with the students struck a chord

present myself, a way to point out similarities instead of

with Omar. One involved Ray wearing the traditional

differences.”

Bermudian business uniform—knee socks, pink shorts, and navy blazer—to go to a business meeting in Bermuda.

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| ENGAGE | UPEI SCHOOL OF BUSINESS MAGAZINE


After the presentation, Patricia helped to set up a meeting

Ray enjoys the mentoring process. “Mentorship has its

between the two at Omar’s request. This first meeting with

rewards. You can see them improve, and once they do

Ray was a little nerve-racking for Omar. He was not relaxed

succeed, you can bask in the glow, knowing you may have

because he was anxious to show Ray he did not want to

had a little bit of a part. With a mentor, you are going to

waste his time. At the same time, he really wanted to know

take a better aim and have a higher likelihood of hitting

Ray’s opinions about his business idea. Ray remembers,

your target.”

“He was very well informed. I could tell he had done quite a lot of work in preparation.”

Does Ray see an entrepreneur in Omar? “Oh yes, he has it, I can see it. Time will tell. Everyone runs into hurdles—it’s

Ray helped Omar create a plan for a new business, and

how they survive the bumps in the road that matters.”

they have had a mentor/mentee relationship ever since. Omar and Ray share a business destination in common in

Omar plans to stay on PEI after graduation to continue

the Middle East so they are sharing connections and ideas.

with entrepreneurship. “I love the Island, it’s my second home. People are friendly and welcoming. Coming from a

Omar says, “On a personal level I really like Ray—it’s about

relationship-based society, I feel that the Island fits like a

his energy and he is very kind. It’s rare that someone would

glove; it is similar to my home society. I plan to keep PEI as

put this much time in without getting anything in return.” But

my base but travel too.” Keep an eye out for Omar and Ray;

Ray disagrees about not getting anything in return.

they are the faces of change here on the Island.

“It’s a nice feeling to be able to motivate someone, to see them work toward success.” – Ray Brow

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23


Faculty News Dr. Gary Evans, associate

Dr. Adam Fenech, associate

professor of management, was on

professor of management, is the lead

sabbatical during the 2015–2016

editor of a 450-page book entitled

school year. Early in his sabbatical, he

Global Climate Change, Biodiversity

was invited by the prestigious Poznan

and Sustainability: Challenges and

University of Economics in Poland to be

Opportunities. Published by UPEI, the

a visiting research professor, where he

book is the result of an international

presented his research in open seminars

conference of the same name held

on corporate governance, women on boards, and grounded

in Alexandria, Egypt, in April 2013. The conference was

theory. Currently, he is serving as a peer reviewer for two

hosted by the Arab Academy for Science, Technology and

international journals, the Grounded Theory Review and

Maritime Transport, in collaboration with the Smithsonian

the Economics and Business Review. With a colleague

Conservation Biology Institute and UPEI. Participants

in Poland, Dr. Evans is working on the re-publishing and

presented 70 papers that assessed biodiversity

updating of an 11-chapter book that looks at the banking

conservation, sustainability options, and policy responses to

and tax system of Poland during its 27-year transition from

global climate change. A framework for future collaborative

1989–2016, encompassing a historical journey of a country

research on climate change, biodiversity, and sustainable

in transition to a free market economy. A second book in the

development was established, with a focus on institutional

development stage is based on grounded theory and will be

capacity-building in governments, research centres, and

published in English and Polish. Lastly, Dr. Evans has been

universities. The book is now available online at the UPEI

appointed to the editorial board and as a special editor for

Climate Lab website (upei.ca/climate).

the Economics and Business Review 2017 issue that will focus on corporate governance.

Dr. Blake Jelley, associate professor of management, has been

Dr. Juergen Krause, Dean of

recognized as a Fellow of the Center

the School of Business and director of

for Evidence-Based Management

the Centre for Health and Community

(CEBMa), a fellowship that recognizes

Research (CHCR), and the CHCR team

practitioners and scholars “who have

are expanding their pilot program to

made a substantial contribution to

battle addiction on PEI. The CHCR

and have a record of achievement in

has been awarded $600,000 in federal

evidence-based practice.” He was also part of a team that

funding from the Canadian Institutes of

received the Award for the Best Management Education

Health Research’s eHealth Innovations program to move

Professional Development Workshop at the 2015 Academy

forward with their CBT4CBT initiative (Computer-Based

of Management’s annual conference. The UPEI-led portion

Training for Cognitive Behavioral Therapy). The initiative is

of that workshop was presented by Dr. Tina Saksida, based

in partnership with researchers in the Faculty of Medicine

on a 2014 publication by Edward Gamble and Dr. Jelley in

at Yale University, and could vastly improve the rate of

the highly acclaimed journal, Academy of Management

success for addiction services on PEI. It will be available

Learning & Education. Dr. Jelley’s most recent publications

to methadone clinics and the inpatient addiction treatment

appear in the Workplace Review (April 2016) and Industrial

facilities on PEI and First Nations communities in New

and Organizational Psychology: Perspectives on Science

Brunswick in the fall of 2016.

and Practice (June 2016). He presented a poster and facilitated a conversation session at the 2016 Canadian Psychological Association’s annual convention. Dr. Jelley also presented an invited concurrent session at the 2016 Human Resources Association of Nova Scotia’s annual conference.

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| ENGAGE | UPEI SCHOOL OF BUSINESS MAGAZINE


Dr. Tarek Mady, associate

Dr. Tina Saksida, assistant

professor of marketing, was presented

professor of management and director

with the 2015 Outstanding Reviewer

of the UPEI Executive MBA program,

Award for the Journal of Modelling in

was a speaker in the professional

Management by the Emerald Literati

development workshop (PDW) entitled

Network Awards for Excellence. The

“Change the World, Teach Evidence-

Journal of Modelling in Management

Based Management” that won the 2015

(Emerald) is the only journal that

Best PDW Award in the management

supports multi-disciplinary study related to research

education and development division of the Academy of

modelling in business and management. He also assumed

Management’s annual conference. During the conference,

the role of associate editor for the Journal of Global

Dr. Saksida gave a talk on the motivational processes

Marketing (Taylor & Francis), a premier international journal

involved in reverse intergenerational learning. Her paper

focusing on globalization and perspectives in cross-cultural

on the relational design of volunteer work was published in

and cross-national research in marketing. Dr. Mady was also

the December 2015 issue of Voluntas: International Journal

appointed to the editorial review board of the Journal of

of Voluntary and Nonprofit Organizations. She also has a

Business Research (Elsevier), a leading journal dedicated

paper in press in a special issue of the International Journal

to a wide variety of business decisions, processes, and

of Human Resource Management that deals with volunteer

activities within the actual business setting.

role mastery and commitment.

Green Crab Research

Author: Dr. Sophie St-Hilaire, a 2016 graduate of the Executive MBA program offered by the UPEI School of Business, wrote the following summary of her senior project. Her research was completed with Dr. Juergen Krause, Luke Poirier, Dr. Kehar Singh, and Karen Wight. Carcinus maenas (green crab)

C

anada has recently developed a commercial fishery

We also estimated the gross profit margin for processors to

for the European green crab (Carcinus maenas),

produce a soft-shell crab product based on existing market

an invasive species in North America, to help reduce the

prices for this type of product in the USA and Europe.

negative impact of this animal on ecosystems and native shellfish populations. The green crab is a known predator

The results demonstrated that under certain conditions, a

of some of PEI’s commercially important shellfish. It also

soft-shell green crab industry, similar to the soft-shell blue

destroys eelgrass beds, which are essential habitat for

crab industry in the USA and the moleche industry in Venice,

many commercial species during their juvenile life stages

Italy, may be an economically viable option for the seafood

and important for reducing silt accumulation in estuarine

industry to grow on PEI, with the added benefit of mitigating

ecosystems. Further, these crabs damage fishing gear and

the negative impacts of a nuisance species. This finding

prey on eels in fyke nets, rendering the eel fishery in many

could help to encourage green crab fishing and alleviate

Atlantic Canadian regions non-profitable.

losses previously experienced by many Island fisheries because of this invasive species.

In our study, we determined the economic viability of a commercial fishery and the break-even price for green crab required by fishermen under different fishing scenarios and crab population densities. SUMMER 2016 |

25


CBT4CBT Gaining Traction with Addictions Author: Lukas Marriott

T

he clinical trial Computer-Based Training for Cognitive

The feedback informs researchers about each participant’s

Behavioral Therapy (CBT4CBT), run by UPEI’s Centre

history with substance abuse and engagement with the

for Health and Community Research (CHCR), has been

online program, and solicits information about the benefits

steadily gaining traction since its inception in 2015. It has

of the program and potential improvements for future

expanded to include participants from Charlottetown’s

iterations.

Queen Street Medical Centre, which services persons dealing with opioid dependencies. The program has

People who are interested in participating and

demonstrated its efficacy among urban populations in

meet the eligibility requirements are encouraged to text

clinical trials run by Dr. Kathleen Carroll and her team in

Luke Marriott at 902-394-6939 or email lmarriott@upei.ca

the Faculty of Medicine at Yale University. Three studies

for information about becoming involved in the trial.

conducted by Dr. Carroll and her team have demonstrated that adding CBT4CBT to regular counselling results

Through continued partnerships and projects with

in significant benefits for patients as compared to an

the Canadian Institutes of Health Research, the PEI

approach that solely relies on counselling.

Department of Health and Wellness, and various local and national partnerships, UPEI’s Centre for Health and

One of CBT4CBT’s core strengths is the capacity to

Community Research is positioning itself as an important

harness the far-reaching scope of the Internet to provide

promoter of research, knowledge generation, and

an effective and affordable supplement to traditional

education at UPEI.

addictions counselling in regions where access to medical facilities may be limited, if available at all. In UPEI’s ongoing clinical trials, participants complete a series of 30-minute cognitive behavioral-themed exercises geared toward teaching them how to recognize triggers that lead to drug use; stand up to pressures in their environment; learn methods for dealing with cravings; and stay safe. The program is conducted over an eight-week period with the participants completing at least one of the seven modules per week, while providing weekly feedback about their experience with the program to UPEI’s researchers via questionnaires and in-person interviews.

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Insights into

Executive Compensation Author: Dr. Andrew Carrothers

C

ompensation for

The opposing argument states that perks can be a cost-

corporate chief

effective way to enhance executive productivity and should

executive officers (CEOs)

be part of executive compensation packages.

has risen much faster than the wage level of average

The subject of “CEO Pay with Perks,” a paper co-authored

workers over the past 40 years.

by Dr. Andrew Carrothers from UPEI, and Drs. Jiaping Qiu

Public controversy about such

and Seungjin Han from McMaster University, develops a

pay disparity has resulted

theory that models how firms compensate CEO talents with

in increased scrutiny of all

both wage and perks in a competitive CEO market.

aspects of CEO compensation,

The theory leads to three main predictions regarding

both monetary (wage) and nonmonetary (perquisites or perks).

Dr. Andrew Carrothers

wage, perks, and firm size. First, CEOs at larger firms receive higher levels of both monetary and non-monetary

There are two primary arguments on the topic of CEO

compensation. Second, if there are economies of scale

perks. One holds that perks are the result of weak

in the cost of providing perks, firms increase perks faster

corporate governance that allows CEOs to use corporate

than wage as firm size increases. Third, the sensitivity of

resources for personal gain.

perks to changes in firm size depends on how much they enhance the CEO’s productivity; productive perks increase faster than non-productive perks as firm size increases. The empirical results of the paper demonstrate that indeed both perks and wage increase as firms get larger, and that perks are more sensitive than wage to changes in firm size. Moreover, at Standard and Poors 500 firms, there are economies of scale in providing perks to CEOs. Finally, using three different criteria to classify perks as productivity enhancing, the results show that productive perks are much more sensitive to changes in firm size than non-productive perks (i.e., as firm size increases, productive perks for CEOs increase much faster than nonproductive perks). The results are consistent with the theory that if perks provide common value and increase CEO productivity, firms are willing to offer more perks in their compensation packages. Overall, the empirical evidence on the determinants of wage and perks for CEOs provides strong support to the predictions of our theory. The full length version of “CEO Pay with Perks” is available on the Social Science Research Network website, www.ssrn.com. SUMMER 2016 |

27


UPEI Ambassador

in China Author: Dr. Andrew Carrothers

Dr. Andrew Carrothers, assistant professor of finance at UPEI

In addition to informal meetings with students, faculty, and staff, I had the opportunity to lecture on international business (with a focus on multinational tax strategies), and to present original research on corporate governance and shareholder activism. During my visit, I was very impressed by the tremendous level of hospitality and engagement. Everyone I encountered was very welcoming and passionate about opportunities to further relationships with UPEI. The Drum Tower of Xi’an, located in the heart of Xi’an, Shaanxi province, China, is a symbol of the city. Erected in 1380 during the early Ming Dynasty, it towers above the city centre and offers incredible view of Xi’an.

I

The students were particularly interested in the “two-plustwo” program that UPEI has in place with both partner universities. Students accepted into this prestigious

n conjunction with UPEI’s International Relations Office,

program complete the first two years at their “home”

I had the good fortune in May of 2016 to be a visiting

university in China, and then join UPEI for their final two

lecturer and UPEI ambassador at two of our highly

years of undergraduate study.

regarded partner universities in China. Sichuan University has three beautiful campuses in the famous cultural and

When they complete the program, students graduate with

historic city of Chengdu, Sichuan province. It is one of

degrees from both UPEI and their home institution. The

China’s key comprehensive research universities under

program provides students with a great opportunity to

the direct supervision of the Ministry of Education, and

hone their English language skills, to experience a new

offers programs in humanities, science, engineering,

culture, and to better prepare for graduate studies at a

medicine, economy, management, law, history, philosophy,

Western university.

agriculture, and education. The student body includes over 40,000 undergraduate and 20,000 graduate students. Chang’an University has five campuses and is located in the beautiful historical city of Xi’an, Shaanxi province. Xi’an (Western Peace), formerly Chang’an (Perpetual Peace), was the capital city for ten ancient imperial dynasties. The famous Bell Tower and Drum Tower reside inside the walls of the stunning “old city.” Chang’an University is a comprehensive and influential institution of higher education known for its programs in engineering, management, economics, and humanities. The current student body exceeds 31,000, including 9,000 graduate students. Dr. Andrew Carrothers receives a round of applause from students after presenting his research.

28

| ENGAGE | UPEI SCHOOL OF BUSINESS MAGAZINE


Alumni Profile

Kevin Ladner Author: Alex Whalen

F

or Kevin Ladner, accounting was a natural fit.

Ladner sees the school as a top exporter of accounting

With a father and an uncle in the business, he was

talent. “We’ve had a long relationship with the University

attracted to the world of accounting from the start.

in terms of recruiting people for our firm,” he explains, making specific mention of the Business Co-operative

“At 15 or 16 years of age, I had it in my mind that I wanted

Education program. “We have recruited from UPEI’s

to be a chartered accountant,” Ladner said in a recent

business program not just for our PEI office but right

interview. These days, he works as executive partner

across the firm,” referencing partners across the country

and CEO of Grant Thornton, one of Canada’s largest

who are UPEI business graduates. “UPEI stacks up very

accounting firms.

well with other universities.”

He assumed his current role on April 1, 2016, working from

It may not come as a surprise that the world of accounting

Toronto after a career that started in the Charlottetown

and business studies is not lost on other members of the

office in 1985. In 2006, he took a larger regional role and

Ladner family. His wife, Kim, is a CA and a UPEI business

joined the national management team before the firm

graduate. Sons Ben and Ryan graduated from UPEI with

promoted him to his current position. He oversees “all of

their business administration degrees last year, while Zach

the geography, people, and services of the firm,” with

just completed his first year. “We feel it is a great program

a daily focus on providing a great work environment for

for someone to go through. There was never any question.”

employees and exceptional service for customers. Ladner has traveled extensively and has reached the “I say this to young people all the time. The biggest

upper echelons of the accounting world. Still, it is clear

misconception about accounting is that it is all about sitting

that his time at UPEI left an impression on him.

in an office with your door closed, working with numbers.”

“What I have really enjoyed is that the profession is all about people.”

“I have a deep affection for UPEI. I hope, as a community, we appreciate it and that everyone works hard to support it.”

Born and raised in Charlottetown, Ladner graduated from Colonel Gray High School before coming to the School of Business at UPEI. “It was always a no-brainer to go to

Kevin Ladner, CPA, CA, CBV

UPEI. There were all kinds of things drawing me; it had a great reputation and it still does today. It was home for me, and that made it an easy decision.” In the work world, he stresses the importance of relationships, arguing that UPEI can have a small-school advantage in this area. As opposed to larger schools, he says, UPEI’s School of Business allowed him to “really get to know professors and other classmates,” and he appreciated the unique opportunity to build friendships and lifelong contacts while at school. SUMMER 2016 |

29


the group of c o m pa n i e s

30

| ENGAGE | UPEI SCHOOL OF BUSINESS MAGAZINE

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