McMaster Nobel Laureate Myron Scholes Shares Insight with Students
The DeGroote School of Business at McMaster Unviersity recently hosted Myron Scholes, a McMaster graduate and nobel laureate who has built a career on the unknown.
First Integrated Business and Humanities Class Starts at DeGroote
McMaster University’s DeGroote School of Business has a surprise this year—and it’s all about integration.
The business school has joined two programs—humanities and business—to create a specialized program for students, according to a recent press release for Canada’s “next generation of business leaders.” Faculties from both McMaster’s schools of business and humanities helped create the new program, which the university offers this fall for the first time. Ever. Its name? The Integrated Business and Humanities (IBH).
“IBH will encourage community engagement and sustainable business practices, with a great deal of emphasis placed on responsible leadership and management tactics in a changing global economy,” said Program Director Emad Mohammad. Mohammad teaches accounting and financial management services at DeGroote. His research focuses on financial reporting and capital markets.
The school welcomed its first class of just 52 students. The class size was intentionally made small so that students can receive adequate individual attention from faculty. They were chosen based on their academic standing, leadership abilities, extracurricular activities, volunteer work, and community service. Each student was interviewed online rigorously before being accepted into the program.
Nearly half of the cohort can speak more than one language. Their curriculum includes classes like Introduction to Ethics, Foundations of Community Engagement, and Questions to Change the World.
“We need business leaders with the ability to deal with uncertainty, and with the complexities generated by the multiple cultures, histories, systems, and viewpoints of our interconnected world, as well as leaders who understand the far-reaching consequences of their decisions, and are guided by an ethical framework,” Associate Dean of Humanities Anna Moro said. “The Humanities offerings in this program will help provide students with the foundation they need to develop these indispensable skills.”
DeGroote Professor Offers Critical Look into Corporate Bankruptcy
Professor Jiaping Qiu at the DeGroote School of Business at McMaster University specializes in corporate bankruptcy, and wants to know how that can impact a company’s employees and their future.
The Toronto-based professor has researched this with a team, per a press release. One study found that employees earn less when they’ve gone through corporate bankruptcy—and the impact can be long-term.
“Annual employee earnings deteriorate by 10 percent when a firm files for bankruptcy,” Qiu said in the press release. “Workers who are affected are likely to leave the firm, industry and even the local labor market. And it turns out those employee earnings remain below pre-bankruptcy earning for at least six years, which is surprising.”
Bankruptcy can impact employees’ earnings for their lifetime, according to Qiu’s research, so future MBA graduates should be careful about what companies they decide for which to work. They wouldn’t be alone: Qiu’s says that recent research shows that people do tend to care about a company’s financial well-being.
“If people get two job offers, all things being relatively equal, they are likely to accept the one from the firm that is more financially healthy,” Qiu added. “This means companies with worse credit ratings will have to pay more to attract the same quality of workers. The resulting higher wages paid to workers due to greater bankruptcy risk should be an important factor for a company to consider when it plans to increase its debt level.”
What attracts to the professor to this topic is knowing how intrinsically human capital is tied to a company. “That’s why this research is important: It has implications in how employees will invest their human capital in a company, and what, as a result, companies should consider when making corporate finance decisions,” he went on, in the press release.
Qiu has also researched the relationship between labor unions and creditors, as well as corporate innovation. Innovation is another aspect impacted when a company goes bankrupt. If finances impact an innovator, it is less likely to invest its human capital again.
However, major companies like Apple and Marvel Entertainment have filed for bankruptcy in the past though, so be careful about how you decide where to work for next.
Earning an MBA in Toronto Without the Full-Time Commitment
Despite the substantial benefits of earning an MBA, for many professionals, the idea of taking an extended detour while they earn their degree may be impractical or even impossible. An accelerated MBA allows motivated students to bring their new knowledge and qualifications to the workforce more quickly. For those Toronto-bound aspiring business school students hoping to earn their degree in a manageable time frame, we’ve laid out the best accelerated MBA programs in Toronto.
Ivey Business School — Western University Canada
Western University Canada’s Ivey Business School boasts an affordable accelerated MBA program. This program is not for everyone, as it exclusive to Ivey grads who have gone through the Honors Business Administration (HBA) undergrad program. However, for recent HBA grads, the AMBA may be an attractive option. According to the school’s website, AMBA tuition is $53,000 for domestic students and $61,000 for international students. Not only do AMBA students earn their degrees faster, but their tuition is 60 percent of the cost of the standard full-time program. In addition to the considerable difference in cost, the AMBA can be completed in just eight months, as opposed to the full-time MBA, which takes one year to complete.
DeGroote School of Business — McMaster University
Students seeking their accelerated MBA from the DeGroote School of Business can commit to a part-time or full-time course load. Full-time AMBAs will earn their degrees in eight months, whereas those on the part-time track may take up to 20 months. Students entering this program must have a minimum of one year of work and continuous managerial or professional experience. For those who don’t meet this qualification, DeGroote makes exceptions for those with one year of internship or co-op experience. This program is limited to applicants from domestic undergraduate institutions. DeGroote’s MBA program is different from many other schools due to its emphasis on hands-on opportunities and work experience. The school achieves this focus through case studies and projects that involve real organizations and situations.
Schulich School of Business — York University
The Schulich School of Business accelerated MBA allows students to skip many of the first year for classes, and essentially dive right into the second year MBA curriculum. Students on this track can complete their degrees in half the time it takes to complete the full-time program, significantly cutting costs. To receive all of the program’s benefits, students must have received a business degree from a Canadian institution within the last ten years, or hold a CPA, CA classification in Ontario. Those who have earned their degrees outside of Canada, and thus do not meet these qualifications, can apply for Advanced Standing Credits, which allows them to waive many of their core first year courses.
Lazaridis School of Business & Economics — Toronto Campus
The Lazaridis School of Business & Economics offers an accelerated Alternate Weekend MBA option. This is an ideal program for those looking to acquire an MBA education while maintaining a full-time career. Those who excel in this track transition to the comprehensive elective stage of the MBA curriculum. This allows motivated students to quickly zero in on their particular interests and specialization. Lazaridis offers nine MBA specializations, including: Accounting, Financial Management, Innovation and Entrepreneurship, International Business Management, Marketing, Operations Management, Organizational Behavior and Human Resource Management, Strategic Management, and Supply Chain Management. The accelerated Alternate Weekend MBA program also gives students a break from June through August, so MBAs juggling their professional and academic obligations can focus solely on their career ambitions during this time.
DeGroote School of Business Dean Leonard Waverman Re-Appointed
Since January 2013, Leonard Waverman has been the Dean of the McMaster’s DeGroote School of Business. Due to his accomplished service, the Board of Governors re-appointed Waverman as Dean starting July 1. Continue reading…
Finding the Best Toronto Executive MBA Programs
An MBA offers immeasurable help if you’re trying to climb the oft-mentioned corporate ladder. But what about getting right to the top? Executive MBA programs are tailor-made for reaching that higher-than-high career point, but how do you know which one may be right for you? We’ve outlined some of the best Toronto Executive MBA programs to help.
