Industry leaders connect school and success to launch redesigned MBA program
It was a true homecoming for many of McMaster’s most successful business graduates. Last month, students in the newly-redesigned DeGroote MBA program were treated to a three-day series of engaging alumni panels at the Ron Joyce Centre. The events comprised the final Foundation Week – a new component of the program that helps students build their business acumen through intensive sessions with faculty and industry professionals.
Eight alumni spanning four decades and several industries were invited to address the current MBA class:
Adeel Abbasi, Digital Transformation Leader, Adobe; John Fisher, President & CEO at Walker Industries Holdings Limited; Jacquie Matthews, CEO of Ipsos UU; Cesar Rainusso, Former Vice President and Head of Digital Channels, BMO Financial Group; Andreas Souvaliotis, Founder and CEO of Carrot Insights; Robert Taylor, Founder and Chairman at Trisura Guarantee Insurance Company; Benson Tsang, Chief Financial Officer and Principal Accounting Officer at ATA, Inc.; and Margaret Zanel, Vice President, Strategy & Business Transformation, Xerox.
“DeGroote MBA students come from a variety of backgrounds,” explains Mark Stewart, Associate Director, Advancement (Development and Outreach). “In fact, less than a third have an undergraduate business degree. The Foundation Weeks and these seminars introduce critical business skills and principles to new students at the outset of the program. As a result, they start their MBA journey with the foundation to succeed in the classroom, at their co-op jobs, and in their leadership and networking activities.”
During the 75-minute sessions, panelists discussed topics such as digital transformation, big data, mergers and acquisitions (M&A), building a business, and entrepreneurship, while shining a light on how their own industries are adapting to rapid change. Panelists also fielded questions from the student body, and offered key insights into how today’s crop of MBA students can best prepare themselves to enter the modern workforce.
“Believe it or not, sometimes I hire people without having a job description in place for them,” said Souvaliotis, one of Canada’s leading social entrepreneurs, and author of the bestselling book Misfit: Changemaker with an Edge. “It’s all about getting the right people on the same bus. Your resume should describe you as a person and what you can offer, not just list your accomplishments. That’s how you can stand out.”
Several panelists noted how so-called “soft skills” – networking, communications, and building your personal brand – are extremely important for MBA students to refine. “It’s important to have a good foundation in finance and accounting, but developing your soft skills is also crucial,” offered Tsang, an expert in M&A who made huge inroads in Asia and Europe before settling in for an early retirement. “This type of acumen will make it a lot easier for you to build trust and relationships, especially internationally.”
“Cultural fit is important in all industries,” added Fisher, who leads Walker Industries’ diverse portfolio of activities, which spans everything from aggregates and construction projects to renewable energy and green building. “One of the first things I consider when meeting a new contact is where that person lands on what I call the ‘ego-humility continuum.’ Standing out is important, but you also need to be flexible and remain humble when making connections.”
On the industry side of the discussions, digital transformation was a common theme throughout the three-day affair. The DeGroote School of Business recently launched its new Executive MBA in Digital Transformation, and the topic has become one of the most prevalent themes in modern business.
“Almost everywhere I’ve been, digital is growing while other areas are being consolidated,” said Abbasi, a self-described “creative digital strategist” who has made a name for himself driving large-scale digital transformation at companies like Adobe and CIBC. “Think of an enterprise like Uber: They’re one of the largest transportation companies on earth, but they have no fleet. Airbnb has become a world leader in accommodations, but they own no properties. Every sector is being impacted by digital change.”
“For me, a company’s ‘change agility’ is based on their ability to see through fog,” said Zanel, who has 20 years of experience at both multi-nationals and entrepreneurial start-ups. “Having the ability to rebound from a changed plan is crucial. It’s important to continually re-alter your model of success.”
What does the future hold for tomorrow’s MBA grads? For many panelists, the global economy will soon revolve around one monumental shift – going green.
“This is the luckiest generation. There’s never been a better time for someone with the right business toolkit,” said Souvaliotis. “The future Apples and Googles are coming from the green space. I like to call it ‘carbon opportunity’ and MBA grads can be at the forefront of this movement.”
DeGroote’s redesigned MBA offers a truly cutting-edge suite of programming. Recent reforms – such as cohort classes, integrated case studies, and five Foundation Weeks – were based on insights from current students, alumni, faculty, and key industry partners. Staff also assessed MBA programs across North America to determine the best structure for DeGroote to enhance Canada’s talent pipeline. The School is actively recruiting some of the brightest minds in the country for the 2017 intake.
Learn more: Welcome to the New DeGroote MBA
