SFU Beedie - Outlook 2020

SFU BEEDIE SCHOOL OF BUSINESS 2019–2020 ANNUAL REVIEW

SIMON FRASER UNIVERSITY’S BEEDIE SCHOOL OF BUSINESS is home to those who believe in the power of business to spark new ideas, fuel social innovations, and advance society. Through teaching and learning powered by world-class research, meaningful community engagement, and a global outlook, SFU Beedie takes business education beyond the walls of academia and empowers people from diverse backgrounds and perspectives to reimagine the role of business in tackling society’s most significant challenges. Message From Our Dean 1 Research 18 School Overview 4 Student Life 20 Undergraduate Program 8 Advancement 22 Segal Graduate School 11 Alumni 23 Executive Education 13 Financial Review 24 Faculty 16 Leadership Team 25 Cover: The cover image is a detail from one of two murals by internationally renowned, Vancouver-based artist Chairman Ting, commissioned for SFU Beedie. They were installed in the West Mall Complex at SFU’s Burnaby Campus in October 2019.

MESSAGE FROM OUR DEAN Welcome to the latest edition of relies on students’ ability to travel. in supporting the recovery that will Outlook, which looks back at SFU Nevertheless, we are in a strong follow this crisis, and we are well Beedie’s achievements during the position to weather this storm and positioned to contribute by providing 2019/20 year. Each year of my tenure are committed to doing our part in high-quality business education. as dean seems more eventful than supporting our community and our the last, and the past 12 months economy as we emerge from this Sincerely, have been no exception. 2019 started challenging time. Canada and British in truly memorable fashion as we Columbia will remain attractive to Ali Dastmalchian hosted business competition JDC students for many reasons, and Dean, SFU Beedie West, and the action barely let up we expect longer term trends to be from there. favourable. From launching a truly On a personal note, I was deeply innovative, new kind of graduate heartened by our community’s education program in partnership response to the crisis. Our faculty with KPMG, transforming our and staff facilitated a remarkably undergraduate onboarding process seamless transition to remote and welcoming several outstanding teaching in a very short timeframe, new faculty members, we have gone and so many individuals have from strength to strength across the supported one another through this school. challenging period. As this period drew to a close, the Looking forward to a brighter impact of the COVID-19 pandemic future, my confidence in British became increasingly clear. Every Columbia’s fundamental economic facet of our lives has been affected strength and potential for growth by the restrictions to control the remains undimmed. In recent virus’s spread, and our school is months we have seen several major no exception to that. While we are software and technology companies, fortunate to be able to continue including Amazon, Apple, Microsoft serving our students via remote and Shopify entering or expanding learning, we do expect the situation their presence in Metro Vancouver. to affect new enrollment, which Business will have a vital role to play

ONE OF CANADA’S MOST INNOVATIVE BUSINESS SCHOOLS Operating across three campuses in the major cities of Burnaby, Surrey and Vancouver in British Columbia, SFU Beedie is creating the business leaders of tomorrow through management education programs for both undergraduate and graduate students. Graduate programs are delivered through SFU Beedie’s Segal Graduate School. Inspired by world-class research, deep relationships with our local and international business communities, and commitment to building a sustainable future, SFU Beedie’s core activities focus on three strategic pillars: Global Outlook; Innovation and Entrepreneurship; and Social Responsibility. 4

Pioneering programs that are the first of their kind in Canada: EXECUTIVE MBA MANAGEMENT OF TECHNOLOGY MBA EXECUTIVE MBA IN INDIGENOUS BUSINESS AND LEADERSHIP 29,000 82 ALUMNI IN COUNTRIES 800+ 3,500+ 786 UNDERGRADUATE CO-OP 9 9 21GRADUATESTUDENTS UNDERGRADUATESTUDENTS SFU Beedie’s three-campus model PLACEMENTS PER YEAR maintains a strategic and inherent connection with BC’s most CORE FACULTY MEMBERS FROM important urban communities COUNTRIES and their economies 10,000 6,000 2019–2020 OUTLOOK SFU BEEDIE 1% SFU Beedie belongs to the 1% INDUSTRY CONNECTIONS ACROSS ORGANIZATIONS of business schools worldwide that are accredited by both AACSB and EQUIS 5

STUDENTS HONOURED AT SFU BEEDIE STUDENT PART SURREY’S TOP 25 UNDER 25 OF WINNING TEAM IN GLOBAL SFU Beedie was well represented at COMPETITION the Surrey Board of Trade’s annual A multidisciplinary team of SFU Beedie Top 25 Under 25 Awards for 2019, with and environment undergrads took first eight students or alumni appearing place in the finals of the global Map on the list. The award winners were the System competition held at Oxford SFU BEEDIE HOSTS JDC WEST honoured at an event celebrating University. This is the third consecutive remarkable initiatives taken by young year that an SFU team has finished in SFU Beedie welcomed undergraduate people in Surrey. the top three of the competition, which business students from across Western Canada as the school hosted top challenges students to explore societal business competition at JDC West. and environmental change through a The team representing SFU Beedie research lens. at the competition also delivered a JUNE record performance, winning in several categories, and taking the coveted School of the Year and Academic School of the Year titles. APRIL 2019/2020 MILJANUARY MARCH JULY MAY EMBEDDING PROJECT WINS AACSB INNOVATIONS THAT INSPIRE AWARD SFU BEEDIE HOSTS YOUTH SFU Beedie’s pioneering Embedding ENTREPRENEURSHIP FESTIVAL Project, the global sustainability SFU Beedie hosted more than 50 teams initiative founded and led by ENTREPRENEURSHIP PROGRAMS of young entrepreneurs at the SFU SFU Beedie Associate Professor RECEIVED FEDERAL FUNDING Surrey campus for the ninth annual Stephanie Bertels, was recognized Two SFU initiatives, Coast Capital Opportunity Festival. Competitors from with an Innovations that Inspire Savings Venture Connection and SFU many SFU faculties, as well as high- award by the Association to Advance Beedie’s Invention to Innovation (i2I) school entrepreneurs, showcased their Collegiate Schools of Business program, received nearly $3 million innovative ventures and vied for prizes in International (AACSB), the world’s of federal funding from Western a range of categories. largest business education network. Economic Diversification (WD). 6

GDBA 20TH ANNIVERSARY FIRST KPMG COHORT COMPLETES ZABEEN HIRJI JOINS SFU BEEDIE AS GRADUATE CERTIFICATE EXECUTIVE IN RESIDENCE In 2019 SFU Beedie celebrated 20 years since the launch of its pioneering SFU Beedie partnered with KPMG in Zabeen Hirji (MBA ’94), has been Graduate Diploma in Business Canada to create a new, innovative appointed Executive-in-Residence at Administration (GDBA), SFU’s first graduate certificate program to SFU’s Beedie School of Business. In fully online graduate diploma program. enhance analytics skills among the her current role as Executive Advisor, This innovative program continues firm’s auditors. The inaugural cohort Future of Work at Deloitte, Hirji advises to innovate and develop, offering an completed the certificate in 2019, the firm and its clients on the changing inclusive remote-learning experience with the option to continue studies nature of work. Prior to this, she had a for a diverse group of students. for another year and earn a Master’s distinguished career at RBC, including degree. serving as Chief Human Resources JULY Officer. DECEMBER FEBRUARY LESTONES NOVEMBER JANUARY MARCH 2019–2020 OUTLOOK SFU BEEDIE SFU BEEDIE HOSTS INDIGENOUS SFU BEEDIE STUDENTS RAISE NEARLY DARA KELLY HONOURED FOR WORK IN LEADERSHIP SERIES $20,000 FOR CANADIAN CANCER INDIGENOUS BUSINESS SOCIETY Leading figures in Indigenous The Confederation of University business and politics gathered at the A group of SFU Beedie students raised Faculty Associations of British Segal Graduate School in October $19,733 for the Canadian Cancer Columbia (CUFA BC) named and November for the Indigenous Society in an initiative run as part Dr. Dara Kelly as the winner of its Leadership Series, hosted by SFU of a project management class at Early in Career Award for 2020, for Beedie. The series comprised of the school. Students enrolled in the her work focusing on Indigenous four credit courses, delivered in BUS 361 Project Management class, business theory. This award partnership with the University of taught by Dr. Kamal Masri, raised the recognizes the contributions to the Arizona’s Native Nations Institute. funds through the 25toLife initiative, non-academic community made by a joint project between the class and faculty members who are at an early the Canadian Cancer Society. point in their careers. 7

PREPARING FOR LAUNCH UNDERGRADUATE PROGRAM The step from high school or college to university can be a daunting one for many students. New classmates, unfamiliar surroundings and challenging academics can seem overwhelming, and students need the right support to ensure they can adapt and thrive in the new environment.

Incoming undergraduate students the agenda, SFU Beedie Launch community through a networking are now better supported than ever, expanded to include personal and alumni breakfast. The Transfer with the opportunity to participate in leadership development, build pride Launch program, which includes SFU Beedie Launch, a newly created in the school through a pep rally, and more international students from all three-day orientation program build closer connections to the wider over the world, includes education on designed to welcome and introduce students to the community. There are two versions of the Launch program, one for students joining direct from high school, and one for transfer students joining from other faculties and post-secondary institutions. Each program is tailored to provide students with knowledge and experiences to ease their transition into SFU Beedie as engaged members of the community. In previous years, student orientation has focused on providing fun activities and social events. This year, while fun remained firmly on 9

3,784 Indigenous issues and other aspects won’t understand them in the same of Canadian history and culture. way as if they have actively figure it SFU BEEDIE UNDERGRADUATES out for themselves, worked through Students continue their the problems and achieved success 110 introduction to SFU Beedie’s ethos on their own terms.” of experiential learning with BUS COUNTRIES REPRESENTED 201, an internal case competition in Tingling’s philosophy is to instill IN THE SFU UNDERGRADUATE which all undergraduate admitted in his students three core values: STUDENT BODY from high school take part. The pride, presence and responsibility. course gives students a taste He believes students who take pride 96% of the teamwork and personal in the school, are actively engaged accomplishment that comes with in the community and activities on OF 1ST YEAR SFU BEEDIE experiential co-curricular activities. offer, and who take a proactive role STUDENTS SUCCESSFULLY in their own growth will be well TRANSITION INTO 2ND YEAR For Associate Dean, positioned when they graduate. Undergraduate Programs, Peter 92% Tingling, these initiatives prepare “This is about preparing our students to succeed in their SFU students and giving them the tools OF SFU BEEDIE GRADUATES Beedie careers, and beyond. they need to succeed—getting them ARE EMPLOYED WITHIN ‘society ready’”, says Tingling. “We 6 MONTHS OF GRADUATION “I like to see the students have developed these programs over immersing themselves in these many years and we know that they $2.3M activities and having the opportunity work. I’m excited to see the impact to learn by doing,” he says. “I always build over the coming years.” IN SCHOLARSHIPS AND AWARDS say it is the difference between acting RECEIVED BY SFU BEEDIE in a play and watching a movie; if we STUDENTS IN THE PAST YEAR just tell students the answers they 10

SEGAL GRADUATE SCHOOL Travelling the world, meeting with commercial partners and presenting strategic recommendations based on business analysis—it sounds like the job description for a high-flying strategy consultant. But SFU Beedie Full Time MBA candidates can do all this and more in the MBA International Applied Project, introduced in 2019. Students taking the new course the students presented their findings program, students gained first-hand tackled a real-world business to executives at the Vancouver Port knowledge of the complexities of challenge posed by the Vancouver Authority, drawing on the skills and working in a multi-cultural business Port Authority. As they developed experiences gained during the trip environment. solutions, they completed fact- and the MBA program as a whole. finding overseas residencies and With travel restrictions in 2020 company tours with partners in Hong The new program exemplifies due to COVID-19, the experience Kong and Singapore, including visits SFU Beedie’s commitment to will be recreated through online and to ports and business schools in experiential learning, global remote sessions. Associate Dean, those cities. Returning to Vancouver, perspective, and engaging with Graduate Programs, Andrew Gemino, communities. Through this unique is confident the initiative will be available to graduate students over the longer term. “The Applied Project encapsulates so much of what we strive to do as a business school,” he says. “This is the type of program that truly sets SFU Beedie apart from other schools.” LIVING 2019–2020 OUTLOOK SFU BEEDIE 11

INVESTING IN THE FUTURE months with a new cohort of For those who discover a students, largely drawn from the love for investment through the When it comes to experiential MSc Finance program, as well as fund, however, the experience is learning, SFU Beedie puts its money some MBA candidates. Each year extremely rewarding. SIAS alumni where its mouth is. Students in the there is a two-month overlap period are working across the spectrum of Segal Graduate School can join the as the outgoing managers pass on investment roles, all over the world, Student Investment Advisory Service their knowledge to the new team. for some of the biggest names in the (SIAS) fund, an entirely student- industry. They also establish lasting run group which actively invests “The attitude shouldn’t be that relationships and many are still in around $20 million of the university’s this is a one-year job,” says Powers. frequent contact with one another Endowment Fund. Now in its 19th “The success of the fund depends many years later. year, SIAS is one of the largest as much on the work done by the student managed funds in North previous cohort as the current one, Powers believes for some America. and each team should be trying to students taking part in SIAS can be leave the fund slightly better than one of the most meaningful aspects For Glenn Powers, Faculty Advisor they found it.” of their SFU Beedie studies. “The to SIAS and himself an alumnus of program is designed to be inclusive, the team, what is special about the In this way, the students take because you never know at the start fund is that students actually make on the full spectrum of roles who will get the most out of it,” he the investment decisions themselves. in investment management says. “Some students with no past “Sometimes the investments go well, organization: not only making investment experience are the most sometimes less well, but that is what investment decisions, but successful and they really grow into education is really all about,” he says. researching stocks, managing leaders.” records, preparing presentations and Over nearly 20 years, the fund organizing meetings with the client. has grown in size from $6 million to They also learn important mentoring around $20 million. More importantly skills, as they pass these lessons on it has done so by consistently beating to their successors. the market, achieving returns around 1 percentage point ahead of Within the team, some students the weighted benchmark over the naturally emerge as leaders and past 10 years. The fund’s returns dedicate significant time and are in line with those achieved work to the fun. Others might by the professional investment find themselves focusing on other firms managing the university’s aspects of their program, and that endowment. is fine with Powers. “I’d much rather they find they aren’t interested while Unlike professional firms, they’re at grad school than when however, the entire team of 30 they’re in a job working 60 hours a managers is replaced every 15 week,” he says. 25% SALARY INCREASE 45 AVERAGE 300 MENTORSIN ACROSS ALL GRADUATE CLASS BUSINESS PAIRINGS GRADUATE SIZE ACROSS PER YEAR, LARGEST PROGRAMS PROGRAMS IN WESTERN CANADA 12

EXECUTIVE EDUCATION With more than 20 years of experience partnering with some of Canada’s most forward-looking organizations, SFU Beedie’s Executive Education team develops customized, high-impact learning opportunities for organizations and individuals. Whether creating a Graduate Diploma in Business Administration (GDBA) that stacks into an Executive MBA for executives at mining giant Teck or engaging in leadership programming with CIOCAN for technology sector leaders in the Technology Leadership Program, the same principles apply: we come together around pressing needs and challenge participants to change their mindset by utilizing world-class research and teaching from SFU Beedie faculty that is reinforced by industry experts. A GLIMPSE INTO THE FUTURE

“In all sectors, we see both organizations and individuals increasingly faced with new work realities – from advances in technology to diversified workforces to the need for new models of collaboration. Organizations need to be adaptable and individuals need to learn quickly. In order to prepare for the future of work, we work closely with our partners to embrace bold initiatives, support mindset change and deliver immediate positive impact.” JENNIFER BEALE, EXECUTIVE DIRECTOR, EXECUTIVE EDUCATION “Innovate or die” has become a truism of modern business, and it applies equally to business education. in year one, and have the option of continuing for a second year By this measure, SFU Beedie is in at KPMG in Canada. “As a people- and gaining a Master of Science in good health. In 2019 the inaugural based business, it’s critical that our Accounting with Cognitive Analytics. cohort completed a pioneering new people are equipped with the right graduate certificate, created by skills and capabilities to be ahead “This program is a glimpse into SFU Beedie’s Executive Education of the curve on all of the latest and the future,” says Ali Dastmalchian, and Graduate Programs teams in emerging technologies.” SFU Beedie’s Dean. “People are partnership with the accounting looking for programs that really have firm. Working closely with KPMG to an impact. The ties between industry understand the challenge and create and business schools are growing KPMG selected SFU Beedie to a highly tailored solution, SFU Beedie closer as we try to meet their develop the new national program, developed an entirely new program needs. For example, specializing to further develop the firm’s auditing to meet the firm’s needs. Catering in particular areas instead of more capabilities with data analytics, and to auditors from across Canada, general programs and more flexibility better prepare its auditors for the the program is delivered through a in the way programs are offered. rapidly changing world of machine combination of in-person classes to All of these trends are embodied in learning, artificial intelligence and build relationships among the cohort, this program. The future is merging technological transformation. and remote learning through executive/management development SFU Beedie’s sophisticated online programs with our degree programs.” “New and disruptive technologies learning platform. are rapidly changing how we approach our audits today, and in Auditors taking the program the future,” says Kristen Carscallen, complete a Graduate Certificate in Canadian Managing Partner for Audit Accounting with Digital Analytics 14

ENTREPRENEURSHIP PROGRAM EXPANDS 74 STUDENTS HAVE IN PARTNERSHIP WITH MITACS COMPLETED THE i2I GRADUATE CERTIFICATE More scientist entrepreneurs can parties are excited to expand the SINCE 2015 now access SFU Beedie’s Invention program nationally. to Innovation (i2I) program, thanks Students are applying their to a new partnership between the “Mitacs is proud to be partnering research in the latest technologies, school and Mitacs, a not-for-profit with the SFU Beedie School of like robotics and nanotechnology, organization that fosters growth Business’s Invention to Innovation to tackle unmet needs in areas and innovation in Canada by solving program to deliver a unique model to such as: challenges with research solutions our interns and fellows,” says John from the best academic institutions. Hepburn, CEO and Scientific Director, ENVIRONMENT AND CLEAN Mitacs. “This collaborative effort TECHNOLOGY i2I is a transformational has been a phenomenal partnership experience that develops innovation that is seeing participants develop HEALTHCARE: MEDICAL DEVICES, skills resulting in a change in entrepreneurial mindsets to BIOMEDICAL ENGINEERING, mindset. The program equips commercialize their inventions”. THERAPEUTICS graduate scientists and engineers with the frameworks, perspectives The hybrid model is being FOOD AND AGRICULTURE and techniques to make an impact delivered over a seven-month period, CONSUMER GOODS through their work—whether as a through a combination of face-to- scientist-entrepreneur, a champion of face sessions and a sophisticated Pathways for students innovation in industry or by applying online learning environment. completing the i2I programming their knowledge as a translational The experiential program, which scientist. The i2I programming, and simultaneously develops the student SCIENTIST-ENTREPRENEUR its new partnership, was recognized and the innovation idea, is taught CHAMPION OF INNOVATION as a 2020 Innovation that Inspires by a mix of SFU Beedie Innovation & award winner by AACSB. Entrepreneurship research faculty, IN INDUSTRY along with experienced marketing, TRANSLATIONAL SCIENTIST/ Under the new partnership, SFU IP, and investment practitioners. Beedie has built a pilot for a non- KNOWLEDGE MOBILIZER credit i2I Skills Training program to “We have been very impressed complement the graduate certificate, with the way that the first cohort in “These scientist and engineers 2019–2020 OUTLOOK SFU BEEDIE taking the successful i2I curriculum the i2I Skills Training program has have developed entrepreneurial and creating a hybrid model allowing both advanced their innovation ideas capabilities throughout the i2I more entrepreneurs to make a real- and developed the perspective and program, and are now poised to make world impact with their scientific skills to create greater impact from greater impact in the innovation inventions. The successful pilot laboratory research throughout their ecosystem.” program culminates in May and both careers,” says Elicia Maine, Academic Director of the program. 15

FAC U LT Y FACULTY FOR THE FUTURE GROWING OUR FACULTY ideas to the faculty and support the • Terri Griffith, Keith Beedie Chair in school’s vision, as the hiring criteria Innovation & Entrepreneurship; SFU Beedie’s strategic review has prioritize scholars whose work is identified the need to increase the consistent with our strategic priorities • Feyza Sahinyazan, Assistant number of faculty in order to continue of innovation, social responsibility and Professor, TOM; improving teaching, resourcing global perspectives. programs, and creating innovative • Eduardo Schwartz, Ryan Beedie research. This underpins the school’s 2019 saw significant progress, with Chair in Finance; ambition to create the best possible seven new appointments to the faculty: learning environment and experience • Deniz Anginer, Assistant Professor, • Miremad Soleymanian, Assistant for SFU Beedie students in both Professor, Marketing; and the undergraduate and graduate Finance; programs. New hires also bring new • Jeffrey Yip, Assistant Professor, • Tom Culham, Lecturer, Strategy; MOS. Deniz Tom Terri Feyza Eduardo Miremad Jeffrey 16

“World-class faculty members make SFU Beedie the business school it is today, and our future ambitions are reflected in our ongoing commitment to bringing more of the best academics to the school.” – DR. BRENDA LAUTSCH, ASSOCIATE DEAN, RESEARCH In addition, the following SELECTED FACULTY AWARDS AND RECOGNITION: existing faculty members were recognized with professorships: •  B rent McFerran and Jing Li • Karel Hrazdil, Fereshteh • Elicia Maine, W.J. VanDusen – W inners of SFU Beedie School Mahmoudian and Kamal Nazari of Business Dean’s Research Professorship; Excellence Awards 2019 – W inners of The Lazaridis Institute Prize for Best Paper on Accounting • Ian McCarthy, W.J. VanDusen • Rosalie Tung Issues Affecting High-Growth Professorship; and – 2 019 Academy of Management Technology Firms, June 2019, for their paper: “How do big • Lieke Ten Brummelhuis, Beedie Distinguished Service Award five personality traits relate to Professorship. – G old Medal from the Journal of corporate social responsibility performance?” At the start of 2020, SFU Beedie International Business Studies also welcomed financial services • Dara Kelly industry leader Zabeen Hirji as • Sarah Lord Ferguson and Emily – E arly Career Scholar award from Executive-in-Residence, further Treen (PhD students supervised building faculty capacity and links by Leyland Pitt) Confederation of University Faculty to the business community. Hirji Associations of BC (CUFA) is Global Advisor, Future of Work – W inners of 2019 Jay Lindquist with accounting firm Deloitte, and Best Paper Award - World • Jeffery Yip a former Chief Human Resources Marketing Congress of the – R esearch fellowship award by the Officer (CHRO) and member of the Academy of Marketing Group Executive at RBC. Think2Perform Research Institute for research on ethical leadership. 99 21CORE COUNTRIES 7 NEW FACULTY 21 NATIONALITIES 2019–2020 OUTLOOK SFU BEEDIE FACULTY APPOINTMENTS REPRESENTED IN MEMBERS DURING 2019/20 THE FACULTY FROM FISCAL YEAR 17

VEC PARTNERSHIP Mobilizing knowledge and putting research into practice in the community is a core part of SFU RESEARCH CENTRES Beedie’s mission. That’s why, in June 2019, SFU Beedie formed an CREATING agreement with the Vancouver Economic Commission (VEC) to help them develop their Economic KNOWLEDGE Transformation Lab (ETL), a research partnership with local universities and global consultancies that will study significant economic trends and challenges, and their anticipated New research into ever-changing JACK AUSTIN CENTRE FOR ASIA impacts on the region. issues, techniques and trends is PACIFIC BUSINESS STUDIES The partners will work together crucial to developing well-structured and forward-thinking organizations. Jack Austin Centre for Asia Pacific to evolve a novel model of economic The Beedie School of Business has Business Studies – a joint venture of development research for the region research centres led by senior faculty, the Asia Pacific Foundation of Canada featuring data analytics, community which investigate new knowledge and Simon Fraser University – was engagement, ecosystem cooperation, and information related to today’s named to recognize Jack Austin’s multidisciplinary collaboration with business practices. These centres are exceptional contribution to Canada- academic researchers and next the result of the direct involvement Asia relations. The goal of the Centre generation talent development. of the business community in is to carry out research, outreach and In doing so, they hope to develop supporting research at SFU Beedie. training activities on business issues actionable initiatives that can •  C entre for Corporate Governance that are relevant to Canada’s interests strengthen an innovative, sustainable in the Asia Pacific region. and inclusive economy for all citizens and Sustainability in the region. • Centre for Global Workforce 15 NUMBEROF 89 TOTAL NUMBER Strategy RESEARCH PUBLICATIONS DURING GRANTS 2019/20 FISCAL YEAR • CPA Innovation Centre TOTAL VALUE • Jack Austin Centre for Asia Pacific Business Studies $450,000+OFRESEARCH GRANTS 18

RESEARCH HIGHLIGHT STRANDED FOSSIL FUEL These findings are consistent with RESERVES AND FIRM VALUE financial markets penalizing future investment in undeveloped reserves BY CHRISTINA ATANASOVA AND EDUARDO SCHWARTZ growth to due to climate policy risk; they believe there is a possibility these Understanding the wide-ranging Using a sample of 600 North reserves will become obsolete and impacts of climate change is perhaps American oil firms over the period may never be extracted. the major challenge of our era. SFU from 1999-2018, the researchers Beedie faculty members Christina documented that, while reserves are As the COVID-19 pandemic and Atanasova and Eduardo Schwartz an important component of company geopolitical pressures impact oil have made a timely contribution to value, the growth of these reserves prices and producers, the study’s our understanding of business in has a negative effect on value. This authors believe their research is even the era of climate change with their negative effect on value is stronger for more timely. paper Stranded Fossil Fuel Reserves oil producers with higher extraction and Firm Value, which examines costs, greater undeveloped oil “Developments in early 2020 whether valuation of fossil fuel firms reserves—which would require major have hit the oil markets hard,” is affected by the risk that their capital expenditure and more time to says Atanasova. “The price war reserves will become ‘stranded’ in the extract—or those located in countries between Saudi Arabia and Russia, transition to a low-carbon economy. with stricter climate policies. the unprecedented collapse in oil demand caused by the coronavirus pandemic and the negative prices as storage space disappeared have been catastrophic for North American oil producers.” “Stimulus spending has already exceeded both the 2009 recovery measures and the ‘New Deal’ programs of the 1930s as politicians promise return to ‘normal’. Our research suggests that taxpayer money should not be used to support investment in growing fossil fuel reserves.” 2019–2020 OUTLOOK SFU BEEDIE 19

STUDENT LIFE Engagement and a belief that students learn best by actively participating in challenging experiences are crucial to SFU Beedie’s ethos. ENGAGED LEARNING 20

This is reflected by our students’ high level of Graduate students have similar opportunities for competition, participation—and success—in business case including general business competitions like the MBA Games competitions. and more sector-specific events such as the Net Impact Sustainability Whether hosting major events Challenge. The latter event took place or travelling overseas to compete in 2020 in remote format, owing to themselves, SFU Beedie graduate and the restrictions around COVID-19, undergraduate students have ample underlining the adaptability and opportunity to forge their business commitment shown by its organizers skills in the crucible of competition. and competitors. All incoming undergraduate The benefits of these events students from high school take part go beyond the individual students in an internal case competition as competing. SFU Beedie undergraduates part of the mandatory BUS 201 class, organize the annual CaseIT event, and for many this introduction is one of the leading international only the beginning of a rewarding management information systems journey. Students can develop their case competitions, and in 2019 hosted skills through internal competitions, major regional competition JDC West. and go on to test themselves Hosting these events gives students against their peers in regional and hands-on experience of planning even international events. In 2019, and executing every facet of a large- SFU Beedie undergraduates won scale, complex event, which can prove prestigious titles at regional event JDC invaluable in their later careers. West, and travelled to Universidad Panamericana in Guadalajara, Mexico, Veterans of case competitions, both where they triumphed in the Business students and alumni, often continue and Management Case Competition their development by contributing (BMCC). in different roles. There are many opportunities for individuals to share their experience and learn new skills of teaching and mentorship, by serving as team coaches or judges at events. The competitions also allow students to build networks and relationships that might prove valuable for their whole careers, with one another and with the alumni and corporate partners on the judging panels. 2019–2020 OUTLOOK SFU BEEDIE 21

ADVANCEMENT BUILDING FOR THE FUTURE Philanthropic support from alumni and community partners provides the margin of excellence to elevate the student experience and enhance our community impact. Most directly, our donors’ generosity reduces financial barriers for students, allowing them to realize their potential and build better futures for themselves and their communities. Donor investment in programs and research amplifies the ability of our faculty thought leaders to create new knowledge and insights, benefiting students, business leaders and society. Here are just some of the ways A lumnus Davorka Cvitkovic T he Charles and Eve Chang philanthropy has made a difference (MBA ‘92, BBA ’87) established Foundation established the over the past year: The Davorka Cvitkovic Research Charles and Eve Chang Award for Fellowship in Business and Entrepreneurial Mindset, available K PMG Foundation made a Social Impact through a to students enrolled in the Chang substantial commitment to generous bequest. The future Certificate for Innovation and help prepare students for the fellowship will advance research Entrepreneurship. The Changs fast-changing world of digital and enhance teaching at the made a gift of $10M in 2016 to transformation. The KPMG intersection of business and establish the Charles Chang Foundations of Digital Innovation social impact. Institute for Entrepreneurship initiative, which will be led by to catalyze entrepreneurship Dr. Jamal Nazari, encompasses Alumnus Ian Gilhooley (MBA programming across SFU. a speaker series, technology ’92) and his family made a workshops and an annual generous donation to establish Prospera Credit Union competition for students to hone an endowed bursary to support sponsored Opportunity Fest, their skills on real-world business the entire yearly tuition cost for SFU Beedie’s showcase of challenges. an undergraduate student facing student entrepreneurship financial difficulties. projects, supporting last-minute efforts to pivot to a virtual event during the early stages of the COVID-19 pandemic. ALUMNI CORPORATIONS STUDENT FACULTY AND 49% 10% SUPPORT DEPARTMENT DONOR 26% GIFT SUPPORT SOURCE DESIGNATION 53% FOUNDATIONS 20% COMMUNITY FRIENDS ENGAGEMENT RESEARCH 22 21% 17% 3%

ALUMNI opportunities. Both students and alumni reported satisfaction with BEAM/SIAS TORONTO FINANCIAL As well as receiving practical the opportunity to connect and learn 2019–2020 OUTLOOK SFU BEEDIE TREK insights for the funds from alumni from one another, and that valuable who had gone on to pursue roles in relationships were formed. Building Alumni who had served on the teams investment management, the event on the success of this project, of SFU Beedie’s two student managed allowed students to learn more about alumni will be incorporated in investment funds—the Beedie the industry and build connections future iterations of the MBA applied Endowment Asset Management to support their own burgeoning projects. (BEAM), which is managed by careers. undergraduate students, and Student SFU BEEDIE TALKS Investment Advisory Services MBA APPLIED PROJECT (SIAS), managed by students in the In 2019, the school launched SFU MSc Finance and MBA programs— SFU Beedie Alumni in both Hong Beedie Talks, a new speaker series connected with current student fund Kong and Singapore played a major highlighting the changemakers managers at an event in Toronto in role in the 2019 MBA applied project, found within the SFU Beedie July 2019. which took students and alumni on community. To date, alumni Charles a journey from the port of Vancouver Chang, BBA ’95, President & Founder, At the BEAM/SIAS Toronto to the ports in both Hong Kong and Lyra Growth Partners and Sandra Financial Trek, the current fund Singapore. Stuart, BA’ 16, President and CEO, managers presented to the veterans HSBC Bank Canada have shared on the status of the fund and fielded Alumni were integrated into their stories to standing-room-only probing questions on their investment the project through participation audiences. This series is particularly strategies and approach. The event in lectures, company tours and notable as the audience is inclusive was hosted by alumnus Helena formal and informal networking of prospective students, current Gottschling, BBA’ 85, who is now Chief students and alumni, reflecting Human Resources Officer at RBC. SFU Beedie’s commitment that the alumni community is an inclusive one that welcomes and supports individuals at every stage of their journey with the school. 23

LEADERSHIP TEAM ALI DASTMALCHIAN CAROLYN EGRI ANDREW GEMINO Dean, Beedie School of Business Associate Dean, Research & International Associate Dean, Professor, Management and William J.A. Rowe EMBA Alumni Professor Graduate Programs Organization Studies and Professor, Management and Professor, Management International Business Organization Studies Information Systems Ali is an international award-winning, Carolyn is a pioneer in research related Andrew is an award-winning teacher teacher, facilitator, and researcher. Ali to corporate environmental and social who has twice received the Canada brings 20+ years’ experience in leadership responsibility, which is also a focus Trust Distinguished Teacher award roles at Canadian universities, previously of her teaching. A prolific researcher, from SFU Beedie. His academic serving as Dean of the Gustavson she has published on cross-national research focuses on information School of Business at the University of differences in corporate environmental technology project management, Victoria (2002-2012) and in the Faculty social responsibility practices as well as business systems analysis and the of Management at the University of managerial values and influence tactics. design of technology-mediated Lethbridge (1997-2002). Ali is also Carolyn devotes considerable time to service collaborative environments. Andrew the President and Chair of the Global in her academic community which includes holds a National Sciences and Research Leadership & Organizational Behaviour being an Associate Editor for Business Council of Canada (NSERC) grant to Effectiveness (GLOBE) Foundation. & Society journal as well as serving on a study the effective communication of variety of academic journal editorial boards. information system requirements. KIRK HILL BRENDA LAUTSCH PETER TINGLING Assistant Dean, Associate Dean, Faculty Associate Dean, Undergraduate Programs External Relations Associate Professor, Management Associate Professor, Management As Assistant Dean, External Relations, and Organization Studies Information Systems Kirk’s portfolio includes marketing and Brenda holds a doctorate in Industrial Peter is an award-winning educator communications, alumni engagement, Relations and Human Resource and a leading researcher in the field employer relations, the graduate career Management from the M.I.T. Sloan School of organizational decision-making, in management centre, sponsorship, of Management and a Master in Industrial particular focusing on professional sports association management, and providing Relations from Queen’s University. She’s teams. He has had a long association event and conference services for among the top ten per cent of faculty with higher education and has taught the school. Kirk began his career on the Beedie Teaching Honour Roll. at several business schools. Prior to at SFU Beedie in 2003. He holds an She teaches and conducts research academia, Peter had more than two undergraduate degree from Arizona State on negotiation and alternative dispute decades of industry experience working in University and an MSc in Organizational resolution, new work arrangements, a number of senior line and staff positions Behaviour from the University of London, work-life balance, qualitative research as well as consulting to a diverse range 24 Birkbeck and is a holder of the Institute of methods, and the effect of flexible work of Fortune 500, government, and start-up Corporate Directors Director designation. on work and life outcomes. organizations across North America.

“Universities and business schools play a vital role in giving students the knowledge and skills they need to make an impact. SFU Beedie has shown a commitment to building deep connections with the wider business community. The Beedie School of Business Advisory Board ensures that the school’s programs remain relevant and effective in producing world-class graduates who are ready for the workplace. As an alumnus of the school and frequent SFU volunteer, I am proud to serve as Board Chair and to be involved in shaping the future of SFU Beedie.” BARRY MACDONALD , ADVISORY BOARD CHAIR BEEDIE ADVISORY BOARD MEMBERS GOVERNANCE FRAMEWORK Fundamental to good governance is the need for a strong advisory board. While operating within the overall university structure, the school has established the Beedie School of Business Advisory Board to assist in the accomplishment of its mission and objectives. The individuals on the Board provide expertise, guidance and direction in support of our commitment to relevant education and research, focused on the changing needs of business and the economy. Board members serve a three-year term. CHAIR: BARRY MACDONALD JAMIE GRAY-DONALD PATRICK NANGLE 2019–2020 OUTLOOK SFU BEEDIE Corporate Director and Senior VP, Sustainability & EHS, CEO, Modo Chair of the Board, CPABC QuadReal Property Group MARIA PACELLA INCOMING CHAIR: EVALEEN JAAGER ROY MINGYU GUAN Senior VP & Portfolio Manager, Principal, Jaager Roy Advisory, Inc. Partner & Vancouver office Founding Private Equity, PenderFund Capital Partner, McKinsey & Company Management Ltd. PAST CHAIR: ELIO LUONGO DANA HAYDEN HAROON RASHID Chief Executive Officer and Senior Partner, KPMG LLP President, Hayden Consulting Services Director, Paradigm Gateway Ltd. ANDERS ASPLING CATHERINE HEATH LORNE SEGAL Founding Secretary General, Globally Vice President, Portfolio Manager, President, Kingswood Properties Ltd. Responsible Leadership Initiative (GRLI) Leith Wheeler Investment Counsel LILLIAN TAN RYAN BEEDIE SANDRA HORVATH Managing Director & Senior Advisor, President, Beedie National Director & Digital Lead, Client Bank Julius Baer Development, Central JÉRÔME BON ROD TAVERNER STACY KUIACK Senior Associate Dean, Tongji SEM, Owner, Rolling Mix Concrete Emeritus Professor ESCP-Europe Director, BTY Group NESLIHAN TÖZGE AMIEE CHAN KENZIE LAU-KWONG Founder & Senior Consultant, CEO and President, Norsat International Partner, Leaders Quest Blue Ocean Change Management ROBIN DHIR JAMES LEE LIN ZHOU President, Twin Brook Developments Ltd. CEO, Carfield International Limited Dean, Choh-Ming Li Professor of & Strategic Advisory, Fasken Economics, The Chinese University of GREG MALPASS Hong Kong Business School ROBERT FOORD Founder, CEO, Enabler, President and Managing Partner, Traction on Demand Kal Tire, Inc. 25

BURNABY 8888 University Drive Burnaby, BC V5A 1S6 SURREY 250 - 13450 102 Avenue Surrey, BC V3T 0A3 VANCOUVER 500 Granville Street Vancouver, BC V6C 1W6 beedie.sfu.ca