The End of Non-Compete Clauses, and More – Toronto News
Representatives from some of Toronto’s strongest business schools have made many contributions to help better their communities this week. Check out some best stories from the week.
Restaurant Brands International to Review ‘No-Poach’ Franchise Agreements – Vancouver Courier
Restaurant Brands International, one of the largest global quick service restaurant companies, indicated that it may be re-thinking the ‘no-poach’ clause in employee contracts. ‘No-poach’ clauses (also known as non-compete clauses) prevent employees from one franchise location from moving to different competing franchise location within the same chain. Experts, including Maurice Mazerolle, Associate Professor at Ryerson University’s Ted Rogers School of Management, believe the clause prevents wage growth for people working in this field.
Restaurant Brands International, which operates Canadian-mega chain Tim Horton’s, may be ditching its “no-poach” clause for its employees.
“In theory, in a tight labour market it basically means you’re not going to be able to bid up wages to compete for those experience workers,” Mazerolle said in an interview with the Vancouver Courier.
Restaurant Brands International owns Canada staple Tim Hortons, as well as Burger King and Popeyes Louisiana Kitchen, with franchises in the U.S. and Canada. Representatives from the fast-food giant have said that they will be consulting their franchisee advisory boards to discuss changing the ‘no-poach’ clause in employee contracts.
You can read more about ‘no-poach’ franchise agreements here.
Medicine by Design and Creative Destruction Lab Partner to Accelerate the Commercialization of World-Class Research in Regenerative Medicine – Medicine by Design
Creative Destruction Lab (CDL), a seed-stage program for science and tech companies that was launched University of Toronto’s Rotman School of Management in 2012, has partnered with Medicine by Design to support the monetization of and nationwide access to regenerative medicine. CDL Executive Director Sonia Sennik said:
“The Creative Destruction Lab has a strong history of supporting health-based companies, and we are very excited to deepen this area of focus through our Health Stream. By partnering with Medicine by Design, we can expand a successful model to include companies on the cutting edge of cell therapy and regenerative medicine.”
Medicine by Design’s regenerative medicine initiative perfectly complements the CDL’s commitment to providing resources for health innovators. The CDL has locations in Vancouver, Calgary, Montreal, Halifax, and New York City.
Read more about the partnership here.
Recycling Provides Manufacturers With Economic Advantages, Study Say – Indiana University
Gal Raz, associate professor at Western University Canada’s Ivey Business School, and Gilvan C. Souza, professor at Indiana University’s Kelley School of Business, co-authored a study that appeared in Production and Operations Management. In the study, “Recycling As A Strategic Supply Source,” the researchers investigated how recycling could provide lucrative resources for companies in today’s changing supply market. The researchers found that recycling can prove to be a wise fiscal decision for companies in the metal cutting tool and inserts industry.
“Because you become your own supplier—you sell your products and you collect them and you recycle them—it gives you your own source of raw materials,” Souza said. The professors’ research showed that recycling can protect companies from changes in the market. According to Souza, recycling “insulates you from the volatility of the market, at least partially. You’re still buying some portion of your raw materials from the commodity market, which is volatile, but if that’s a smaller and smaller portion, then that’s a significant benefit.”
Read more about the recycling study here.
Future U.S. Relations, Fullbright Scholars, and More – Toronto News
As summer roles on through North America, lets take a look at what has been going on at Toronto’s business schools.
Lessons in Chinese History As America Shuts Off From the World – The Conversation
Walid Hejazi, International Business professor at University of Toronto’s Rotman School of Management, recently wrote about how the possible trajectory of the U.S. under President Trump would be similar to that of China’s downfall in the 1800s.
Hejazi warned that Trump’s isolationist actions, such as his rejection of the Trans Pacific Partnership and imposed tariffs on steel and aluminum imports, could close the U.S. off to the rest of the world.
“There is a clear contradiction between ‘make America great again’ and closing off from the world,” Hejazi wrote in The Conversation. “If the U.S. closes itself to the world, its future as a world leader in every way is at significant risk.”
You can read the entire Hejazi’s piece here.
CIBC Mellon Appoints Karen Rowe Chief Financial Officer – CIBC Mellon
Investment services company CIBC Mellon has announced that Karen Rowe will fill in as the brand new CFO. Rowe is also an acting member of the Advisory Council for the School of Accounting and Finance at Ryerson University’s Ted Rogers School of Management. In a recently released statement, Rowe says:
“CIBC Mellon is well-regarded by institutional investors as Canada’s leader in asset servicing, and I am proud to join the company and support its financial management. I am looking forward to contributing to CIBC Mellon’s strong operational execution, service excellence and continuous improvement.”
You can read more about Rowe’s role at CIBC Mellon here.
Fulbright Scholar Award Powers Adam Fremeth’s Energy Policy Research – News@Ivey
Ivey School of Business Associate Professor Adam Fremeth has been officially named as the newest Fullbright Canada Scholar Award winner—the first school recipient to earn the award since 1990. He will be joining Indiana University in the U.S. from January to May of next year, “where he’ll research how electric utility firms are interacting with state regulatory bodies as well as the impact of energy policies, particularly in the area of renewable energy,” according to an Ivey press release.
Ivey Associate Professor Adam Fremeth, the newest Fullbright Canada Scholar Award winner / Photo via ivey.uwo.ca
“A lot of my work deals with energy policy issues in the U.S. and being in Indiana and the Midwest more broadly allows me to get exposed to a lot more of those issues and to interact with, not just the academic community, but also the business and public policy communities they serve,” Fremeth said in the release. “I hope to bolster my research agenda, get some firsthand interactions in the areas I’m studying, as well as perhaps broaden my work with exposure to what people outside of Ivey and Canada are doing.”
You can read more about Fremeth’s work and the award here.
Toronto News: Schulich Grad Becomes CEO, Ryerson Promotes Women in Business, and more…
Toronto business schools have seen another exciting week of community contributions from faculty and graduates. We’ve laid out some of the high points.
We Need to Talk About Career Gaps—LinkedIn
This week, Rod Bolger wrote an article for LinkedIn on the “RBC Opt-In: Women’s Career Continuation Program: at Ryerson University’s Ted Rogers School of Management. The article’s author is also the CFO of RBC, the company that sponsors this program. The Opt-In program allows women who have stepped away from their careers to continue their education and regain their footing in the workforce. The program allows these women to network and further their education on topics like leadership and personal branding.
“At RBC, we believe an inclusive workforce spurs innovation, and that in turn fosters a strong economy and helps our communities prosper. The bottom line: we need women—as half of the world’s talent pool—to be able to fully participate in the workforce. We can each do our part to listen and learn from those who have the diversity of perspective and experience that a career gap brings.” -Rod Bolger
Read more about the RBC Opt-In: Women’s Career Continuation Program here.
Sprout Wellness Appoints New CEO—HRT News Desk
Sprout Wellness Solutions, which provides resources for ensuring holistic employee wellness in corporate settings, has announced that Andrew Zimakas will take over as CEO. Zimakas has been serving as interim COO at the company for a number of months. Zimakas earned his MBA at York University’s Schulich School of Business. After earning his MBA, he worked in senior positions at several large companies, including Microsoft and LoyaltyOne.
“I’m incredibly excited to be leading such a talented and committed team at Sprout; It’s a great fit, given that we are a purpose-driven organization with a leading-edge solution that is at the intersection of two of my passion areas: technology and health and wellness.”- Andrew Zimakas
Read more about Sprout Wellness Solutions here.
China Poised to Take Lead in Artificial Intelligence Race—The Globe and Mail
Avi Goldfarb and Daniel Trefler, economists at the University of Toronto’s Rotman School of Management, have written a soon-to-be-published paper tackling questions about AI’s impact on the future of international trade. The researchers note that China is fast becoming an AI giant with Silicon Valley-level tech advances and growth.
Though the researchers believe China’s innovations will be useful to Canada, they also anticipate harmful consequences as a result of China’s rise to AI superpower. For example, there may be no room for AI companies from smaller countries like Canada once China achieves dominance.
Read more about China’s role in AI here.
Seamless Shopping, Work Authenticity, and More – Toronto News
Professors at Toronto’s premier business schools have been making headlines this week. Let’s see what they’ve been up to.
Phasing Out the Checkout Line: Retailers Race to Make Shopping More Seamless – CBC News
Walmart’s scan-and-go shopping option, which allowed customers to scan items themselves and pay for them with a phone app, has been removed from U.S. stores. Retail expert and professor at Ryerson University’s Ted Rogers School of Management Steve Tissenbaum posited that scan-and-go was not actually more convenient for consumers, but felt it was important for businesses like Walmart to continue to innovate seamless shopping.
“They [customers] want it to be as quick and as seamless as possible when they’re ordering stuff online. Retailers certainly have to move forward. Otherwise they’ll be left behind,” Tissenbaum said in a recent CBC News piece.
The retail giant seems to agree with Tissenbaum’s view, and has launched the “check out with me” project, which will allow employees to use mobile devices to scan and charge customers for their items anywhere in the store.
You can read more about Walmart’s new project here.
How to Keep it Real at Work – Forbes
An HBR article from Wilfrid Laurier University social psychologist Vanessa Boute was recently featured in Forbes, highlighting whether employees feel authentic at work, and how this impacts their performance. Boute writes:
“One study found that the greater employees’ feelings of authenticity are, the greater their job satisfaction, engagement, and self-reported performance. We suggest, then, that the crucial point is finding a balance so that we can be true to ourselves while flourishing and finding success within the company.”
The Forbes article utilizes Boute’s findings while examining the balance between being genuine and making calculated, political moves in the workplace, and offers suggestions for leaders in the workplace to increase their authenticity. The advice included increasing transparency, truly listening to employees, being open about one’s own flaws and mistakes, and maintaining professional boundaries.
Read more about being authentic while advancing professionally here.
Choosing a Strategy for Your Startup – Harvard Business Review
The Harvard Business Review also recently interviewed Joshua Gans, professor at the University of Toronto’s Rotman School of Management, on its HBR IdeaCast. The Gans interview delved into the philosophy behind the HBR article Gans recently co-authored, “Do Entrepreneurs Need a Strategy?” Gans promoted researching strategic options before launching a startup, and choosing the strategy that best aligns with the company’s long-term goals. For example, entrepreneurs must decide whether their business will be collaborating or competing with existing businesses in the same market. Collaboration may allow a newer company to take advantage of the resources of more established businesses in the same market without being viewed as a threat, but competition leads to more autonomy for the fledgling company. The interview explored the merits and drawbacks of several entrepreneurial strategies. Gans says:
“One of the things we want to emphasize is that choice is choice. So, what we say is basically when you’ve done this process and you’ve got one or two, you know, got two or more options sitting there before you, you then go with your gut essentially, or you come up with a rationale saying why you are the right person; you feel better with one path and another.”
You can listen to the full interview with Gans here.
Ivey Expands MBA LGBTQ Resources, and More – Toronto News
Toronto business schools have been making waves worldwide in recent weeks. Let’s take a look at some of the week’s highlights.
An Alternative to Word-of-Mouth Advertising for Small Businesses – The Globe and Mail
Jared Lenover, digital marketing strategist at McMaster University’s Degroote School of Business, was featured in The Globe and Mail, weighing in on the effectiveness of geo-targeting to promote a local business. Geo-targeting is a form of advertising being offered by little-known platforms like Facebook, wherein a business can use location targeting and demographic data to reach specific social media users who might be interested in or have easier access to the product in question. Julie and Sheldon Harrish, a Toronto couple and owners of the 6ix Cycle spin studio in Toronto, tried geo-targeting and found it to be more effective than word-of-mouth alone. In fact, the small business saw a two percent growth in usage.
According to Lenover, geo-targeting “helps you make your audience more relevant.” Lenover emphasized the benefits of the advertising strategy, asserting that it “does allow the advertiser to be more efficient with their budget.”
Read more about 6ix Cycle and geo-targeting here.
Ivey’s MBA LGBTQ Student Club Connects With Global Organization – News@Ivey
Out & Allied @ Ivey, the LGBTQ MBA student club at Western University Canada’s Ivey School of Business, has joined forces with a global network of LGBTQ MBA students and alumni. The global network, Reaching Out MBA (ROMBA) seeks to inspire LGBTQ MBAs to be leaders in their communities. This connection will give Ivey MBA LGBTQ students the opportunity to participate in networking events, such as the annual ROMBA Conference, wherein they can mingle with industry leaders from around the globe.
“We want applicants considering Ivey’s MBA program to see the environment as safe, supportive, and open. ROMBA is a great organization to give our students access to an important and diverse network.” – Jay Kiew, outgoing President of the Ivey MBA Association (MBAA)
Read more about Ivey’s affiliation with ROMBA here.
DECA Ryerson’s TRSM Students Win Big at ICDC Competition in Washington DC – TRSM News
Ryerson University’s Ted Rogers School of Management (TRSM) is currently celebrating last month’s victory at the (International Career Development) ICDC Competition. The DECA TRSM team traveled to Washington DC from April 10-15 in order to showcase their knowledge and work. DECA is an international network with over 200,000 members, whose aim is to prepare aspiring leaders in high school and college in finance, management, hospitality, and marketing.
The students who went to DC had to place in the top three for their category (Fashion Merchandising and Marketing, Travel and Tourism, Restaurant and Food Service Management, Human Resource Management, and International Marketing) at DECA U Ontario’s Provincials. The students selected competed against upwards of 1,500 students from around the world, and went home with 24 medals and six plaques.
You can read more about DECA Ryerson’s big win here.
DeGroote Professor Workplace Policy Helps Shape New Law, and More -Toronto News
This week, Toronto business schools discuss substantial contributions to the workplace, researchers from DeGroote and Ryerson have each worked to make workplaces more just and equitable, and a new book by Rotman professors gives practical tools for incorporating AI into business.
Doing Right By Employees Ultimately Pays Off – McMaster Brighter World
Research from Isik Zeytinoglu, professor of human resources and management at McMaster University’s DeGroote School of Business, has shown that treating employees well may be a shrewd move for employers. Dr. Zeytinoglu, whose research influenced the World Health Organization’s WHO Healthy Workplace Framework, has been touting the benefits of a healthy relationship between employers and workers for over 30 years. The Fair Workplaces, Better Jobs Act, which came into effect at the beginning of April, had many benefits and protections for workers, including a requirement that part-time and temp employees must receive the same pay as full-time staff for the same work.
“In the long term, equity helps society, the community, and the economy,” Zeytinoglu said. “Throughout history, there have been employers who considered fairness and behaved justly toward their workers, and they are the ones who have prospered.” It is no coincidence that the new law aligns with much of Zeytinoglu’s research; in fact, the government consulted the professor during the bill’s formative stages.
Read more about the new bill and Zeytinoglu’s work here.
These Are the Workplace Gender Equity Tactics That Actually Work – Canadian Business
This week, professors at Ryerson University’s Ted Rogers School of Management, Martin Fabro and Chris MacDonald, wrote an article on gender equity for Canadian Business; a follow-up to one the authors wrote in late March, “A Seven-Step Plan To Improve Gender Diversity At Any Company.” While the first piece offered actionable instructions to improve gender diversity, Fabro and MacDonald focused their follow-up on which of the most popular gender diversity tactics were rooted in evidence-based practices.
The Ryerson researchers explored which gender equity practices helped to either, “actively improve gender diversity (and in particular to increase the number of women in leadership roles), and to reduce underlying gender bias and discriminatory attitudes within the organizational culture.”
Learn more about improving gender equity in the workplace here.
PREDICTION MACHINES: The Simple Economics of Artificial Intelligence – Rotman New Releases
In their new book, PREDICTION MACHINES: The Simple Economics of Artificial Intelligence, Ajay Agrawal, Joshua Gans, and Avi Goldfarb took on the task of theorizing the possible role of artificial intelligence in business. In the past, the possible effects of AI on business seemed so vast, they were difficult to tackle. Agrawal, Gans, and Goldfarb demystify AI, by re-framing it as a prediction tool.
“More than just an account of AI’s powerful capabilities, PREDICTION MACHINES shows managers how they can most effectively leverage AI, disrupting business as usual only where required, and provides businesses with a toolkit to navigate the coming wave of challenges and opportunities.”
A book launch was held at the Rotman School of Management on April 16.
You can read more about PREDICTION MACHINES here.
