Programs

Newsletter - Student Watch

Think Big and Act Bigger

The Tradyo Team: Gracen Johnson, Ronen Benin,
Eric Henig, Gideon Hayden

Ivey Entrepreneur sat down with HBA ’12 candidate Ronen Benin to talk about his passion for entrepreneurship, his latest new venture and recent success as a member of Tradyo, the winning team of the inaugural The Next 36 program for promising young entrepreneurs.

What attracted you to Ivey?
I was attracted by Ivey’s focus on leadership, so I applied and was accepted to Ivey’s Advanced Entry Opportunity (AEO) program. I’d already experienced the challenges and rewards of good leadership through my involvement in competitive swimming both as a National level athlete and coach.

How did you find out about The Next 36?
I was looking to grow my company, Rameco Distribution, through student or school funding and came across The Next 36 on a student awards website. When I investigated in more detail, I discovered that The Next 36 was a robust 8 month program for entrepreneurship-minded undergraduate students from across Canada. I thought ‘I won’t get in, but what have I got to lose?’, so I applied. Was I surprised when I was picked as one of the 36 students for the program!

Tell us about the program and your experience.
The Next 36 raised my expectations across board. I processed and put into practice more info this past summer than I ever thought I could. I felt overwhelmed daily.

My peers were phenomenal - I never felt like I was smartest kid in class - and our Mentors were among Canada’s most accomplished business leaders. They shared their personal experiences and mistakes, and we learned that they are average people, just like us, who became successful. Learning from the Mentors was a huge confidence builder. I now have this amazing network of mentors and peers all across Canada.

Teams were assembled by The Next 36 steering committee. My teams’ backgrounds included business strategy, international development, computer science, and global finance. We lived in a 5 room suite – 4 bedrooms and an office - where we learned a lot about respect and the need to yield to other people’s needs, in addition to figuring out how to build and launch a new venture. I love my team – they’re all type-A personalities, all unique. I respect them both as people and as business partners.

As part of the summer venture incubator, we were given $25,000 cash and $25,000 in-kind services as seed funding. In addition to building our new ventures, we were also required to attend class, sometimes up to 8 hours a day. Our professors were among the leaders in their field from Harvard, Wharton, U of T, Ivey, and Georgetown. They taught us to think big and act bigger! They challenged us to strive for leadership on global scale. It was intense; we were always working.

How did your team come up with the idea for Tradyo?
We searched for opportunities across a variety of industries and had originally selected another idea, but decided to switch at the last minute as the sector was really heating up and big competitors were moving into the space. So, we decided to refocus and look at nascent markets.

A video on collaborative consumption by Rachel Botsman inspired us to develop the concept for Tradyo. Collaborative consumption is a relatively new space and it hit all the marks. We saw growth potential, investment potential and the ability to make a big impact. We all loved it.

Tradyo allows users to use their mobile device to quickly upload items for sale or barter and to see what’s available in their own neighbourhoods. Users can mark their favourite traders and continue to communicate with them while building their own customized market place.

What did you learn about yourself?
I learned to go with my gut. I learned to work with imperfect information. I learned to be creative to attain resources not presently under my control. I learned to ask questions, be curious and think critically about the answers I’m given.

I thought I was a good listener, but I’m actually a better talker. I learned that if I’d listened more, I could have avoided some pitfalls. I learned to trust and rely on my team.

What advice do you have for HBA’s who are considering applying to The Next 36?
Don’t be afraid to do ‘something’. People often see opportunities but do nothing. So, just do it - touch it, feel it, try it out. You miss 100% of shots you don’t take.

I didn’t think I’d get in to The Next 36 – but I made it and my life changed, my network ballooned. My network now includes highly successful, influential and wealthy people, who are willing to spend their time and resources to support the next generation of entrepreneurs.

What’s next for you, Ronen?
My team is continuing to grow and develop Tradyo, but I’ve stepped back from active management and am now working in an advisory role while completing my HBA at Ivey. I’m still running Rameco Distribution, which imports bio-degradable stationary for distribution to professional offices and secondary school, and I’m working on two new mobile networking apps: one for the consumer market and one for amateur athletes. It’s busy.

Any last words of wisdom?
Young people are often afraid of appearing foolish in front of people in power. I want them to know they have nothing to lose by trying to make a connection with a person of influence. If they act, anything is possible; especially now, before they have the responsibilities that come later in life. I did it, and now I get to do something that I’m passionate about.

The Next 36: meet 2 more Ivey students who are also part of the Next 36

Danish Ajmeri,
HBA 2013

Danish’s team developed the
Foodstr app - a social
dining platform that allows
people to network with each
other nover a family-style
meal at a local Toronto
restaurant.

Nadeem Nathoo,
HBA 2013

Nadeem’s team developed
the PushPal app - a more
effective way for small
to medium sized organizations
to better communicate with
their audiences over a mobile
medium through hyperpersonalization.

Newsletter - Research

What the markets think of entrepreneurship
Professor Brian Anderson
Fall 2011

The research of Brian Anderson shows that investors reward companies for being entrepreneurial, but only to a pointIt’s become a drumbeat in the business press: firms have to be entrepreneurial to survive and thrive. A large body of research supports this notion for start-ups and small firms, but what about large and diversified businesses? What does being entrepreneurial mean for these organizations, and how does it affect different aspects of performance?
Ivey professor Brian Anderson focuses his research on “corporate” or “macro” entrepreneurship - how large companies pursue entrepreneurial strategies to improve their competitive positions. In a recent study he and colleague Jeff McMullen from Indiana University explored entrepreneurship from the perspective of investors. They asked the question: does the market reward entrepreneurial strategies and initiatives?
To conduct the study they reviewed every Fortune 500 company for the period 1999 through 2009, with the exception of banks, insurance and financial service companies. Their sample consisted of 578 firms, for a total of 4,060 “firm year observations.”
Anderson used a simple model to determine whether a firm had an entrepreneurial orientation. He looked for three distinct behaviours: innovation, proactiveness, and risk-taking. Innovation means coming up with new products, processes, or business models. Proactiveness is the entry into new markets. Risk-taking is the willingness to commit resources to projects with highly uncertain ends.
None of these elements on their own constitute an entrepreneurial strategy: it’s the interplay of all three. “For example, it’s not an entrepreneurial strategy just to take on risk,” says Anderson. “Lehman Brothers was excessively leveraged, but it wasn’t entrepreneurial.”
Anderson assessed the entrepreneurial orientation of each firm in his Fortune 500 sample through a content analysis of their 10-K reports. These public reports, required annually by the U.S. Securities and Exchange Commission, give a summary of the firm’s performance and business activities. Anderson reviewed the reports to see how companies were communicating with investors about innovation, pursuing new markets, and issues of risk.
It came as no surprise that certain companies, such as Apple, Boeing, Nike and Google, displayed high levels of all three behaviours. At the other end were firms like Walmart and Burlington Northern. But Anderson was also struck by how most firms fluctuated from year to year. For example, General Electric and The Walt Disney Co. oscillated frequently between entrepreneurial and conservative strategies during the study period. “The vast majority of companies go through periods where they’re really entrepreneurial and then more conservative, and so on,” says Anderson. “It’s hard to stay entrepreneurial all the time.”

Anderson used “Tobin’s Q” – the ratio of the market value of a firm’s assets to the replacement cost of those assets - to evaluate whether the market rewarded entrepreneurial strategy. Tobin’s Q is a well accepted measure of market performance, often used as a broad indicator of how the market assesses the ability of managers to create value from firm assets.
Anderson found that the market positively rewards entrepreneurial strategies. “It’s clear that investors like it when you’re entrepreneurial,” he says. The initial bump in value is short-lived, though. “As time goes on investors are more interested in what you are going to do next,” says Anderson. “An implication for managers is that you have to sustain your entrepreneurial posture in order to reap the market benefits from being innovative, proactive, and taking strategic risks.”

He also found that entrepreneurial strategies were rewarded more in some industry environments than others. The market rewarded entrepreneurial strategies more when firms were in a “munificent” environment—where competition was lower and companies generally profitable—than in “hostile” environments with thin profit margins and intense competition. “In hostile environments, investors want you to be entrepreneurial – but not too much,” says Anderson. “Investors don’t want you to go out too far on a limb.”
The same pattern was found in stable industries, as compared with those that are very dynamic and fast paced. “Entrepreneurial strategies are rewarded well when you’re in an industry that’s pretty predictable, such as retailing,” says Anderson. “In really dynamic and fast paced industries, like microprocessors and pharmaceuticals, you don’t get as big a bang for your buck. It’s still a positive relationship, just not as strong.”
These findings came as a surprise to Anderson, because previous research had shown that companies in very fast paced and hostile environments perform better—usually measured by sales growth—when they’re entrepreneurial. To be sure of his findings he collected a whole new sample and tested it again, with the same results. “In terms of growth, it really pays to be entrepreneurial,” he says. “But when it comes to how the market views entrepreneurial strategies, it pays to be entrepreneurial but only to a point. Growth outcomes and investor perspectives aren’t necessarily in alignment.”
For managers, who are routinely evaluated on the basis of sales growth, these findings could pose a conflict between what the company wants internally and what the market is prepared to reward. Although it clearly pays to be entrepreneurial, managers need to understand that stakeholder groups in different environments are going to view the benefits of entrepreneurial strategies somewhat differently. “The proponents of grow, grow, grow are always going to push to be more entrepreneurial, but investors tend to be more circumspect,” says Anderson. “Investors are weighing how much value managers are going to be able to extract from the resources of the company. If they think managers are gambling too much with those resources, they’ll pull back a little.”

Existing studies also confirm Anderson’s finding that firms fluctuate in their entrepreneurial orientation. With the exception of a few companies like Apple, it’s rare for a firm to be entrepreneurial year after year. “It is more common for a firm to stay conservative if they’re conservative by nature,” says Anderson, “but most companies tend to oscillate back and forth.”

This raises an important question for managers: how to sustain an entrepreneurial focus. “Our core research is saying that for large established firms, being entrepreneurial matters,” says Anderson. “But what does it take to be entrepreneurial – what kind of resources, what kind of culture, what kind of management style? We’re just starting to scratch the surface, but it’s important for managers that we figure it out.”

About the author -

Brian Anderson is an Assistant Professor in the Entrepreneurship Group at Ivey.
Dr. Anderson’s research interests lie at the intersection of strategy and entrepreneurship.

Ivey Entrepreneurs Index 2011 - Powered by KPMG Enterprise™

Thank you for your interest in the Ivey Entrepreneurs Index Powered by KPMG Enterprise™ To receive the report each time it is released simply enter your email address below.

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The Index was launched on November 4, 2010 (Full text is below) and published semi-annually in May and November to coincide with the Quantum Shift Program and Ivey Venture Forum, respectively.

Ivey’s Pierre L. Morrissette Institute for Entrepreneurship recognizes the significance of the Entrepreneurs ability to effect change across the Canadian economy, and has developed an Index to capture and disseminate this value throughout the broader business and economic communities.

Ivey Entrepreneurs Index shows entrepreneurs continue to be optimistic

Click here to download the May 2011 Index Report as a PDF

LONDON, ON, May 3, 2011 – The Ivey Entrepreneurs Index shows that Canadian entrepreneurs continue to be upbeat, with 92 per cent expecting their revenues to climb in the next year, up from 87 per cent who had a similar outlook in the fall.

They are also increasingly optimistic about the Canadian economy as a whole, with 89 per cent anticipating growth for the economy in the next 12 months; that’s an increase of 20 percentage points from the survey completed the fall when only 69 per cent expected the Canadian economy to expand.

The Ivey Entrepreneurs Index is based on a short survey of five questions distributed to Fellows of QuantumShift™. Entrepreneurs are asked what they expect will happen in their private companies over the next 12 months, covering their outlook for revenue, profits, hiring, and borrowing. The survey also includes the general question: do you expect the Canadian economy as a whole to grow?

This is the second release of the semi-annual index.

“The net increase in overall optimism about the Canadian economy reflected in the spring 2011 Index, relative to fall 2010, captures the forward looking view of Canadian entrepreneurs. They see positive prospects for their own businesses, and they expect growth in the overall economy,” said Stewart Thornhill, Executive Director, Pierre L. Morrissette Institute for Entrepreneurship, at the Richard Ivey School of Business.

“Entrepreneurs are critical drivers of economic growth in Canada so it’s heartening to see business confidence and their optimism on the rise,” said Dennis Fortnum, National Leader, KPMG Enterprise™. “These business owners have taken care of their balance sheets over the past year strengthening their financial position through improved operating results and taking full advantage of easing credit markets. They have strategically positioned their companies to benefit as our economy strengthens.”

A baseline for this survey was established in fall 2010. This second release and future releases will measure prospects and trends.

The survey was distributed to 280 entrepreneurs whose companies have average revenue of $30 million with an average of 380 employees. Their businesses have achieved 25 per cent average growth annually. The entrepreneurs surveyed are graduates of QuantumShift™. Co-founded by Richard Ivey School of Business and KPMG Enterprise, each year QuantumShift brings together 40 top Canadian entrepreneurs for a week-long leadership and executive development program.

Wendy Tayler, Vice President, Alkan Air Ltd. and a Fellow of QuantumShift, said she expects a strong future for companies who are able to quickly ramp up their growth.

Alkan Air operates charter and air ambulance service covering northern and western Canada, and Alaska. Operating out of Yellowknife for more than 30 years, Alkan Air runs 24 hours a day, seven days a week.

“We continue to experience rapid growth in the mining and exploration industries in the North. As a result, the private sector in the territory is seeing unprecedented growth. The next five years are likely to be very prosperous for businesses that can position themselves quickly to participate in the growth,” Tayler said.

For further information about the Ivey Entrepreneurs Index powered by KPMG Enterprise, please click here.

	Oct 10	Apr 11	Change
Do you expect your company’s revenue to grow?	87%	92%	+5 %-points
Do you expect your company’s profit to grow?	84%	89%	+5 %-points
Do you expect to seek external capital?	40%	32%	- 8 %-points
Do you expect to hire additional employees?	78%	80%	+2 %-points
Do you expect the Canadian economy (as a whole) to grow?	69%	89%	+20 %-points

About KPMG Enterprise
KPMG Enterprise™ is a network of professionals devoted exclusively to helping private companies in Canada. Why is that important for business owners and entrepreneurs? Based on their understanding and experience of what private companies face every day, KPMG Enterprise business advisers can provide proactive and effective advice about financial, business, and operational challenges, ultimately helping owners and entrepreneurs build value in their businesses and grow successful private enterprises. Visit kpmg.ca/enterprise.

About QuantumShift
QuantumShift™ is an intense and exclusive leadership development program for Canada’s most promising entrepreneurs, co-founded by the Richard Ivey School of Business and KPMG Enterprise in 2004. The program brings an elite group of 40 entrepreneurs together annually for a rigorous five-day developmental experience at the Ivey Business School in London, Ontario. Admission to QuantumShift is by invitation only selected from amongst hundreds of nominations annually. The curriculum explores topics that matter to high growth entrepreneurs. For further information about the program and its Fellows, visit kpmg.ca/quantumshift. Nominations for QuantumShift 2011 close December 3^rd, 2010. To nominate an entrepreneur, contact Tracy Holotuk at 416 777 8460.

For more information, please contact:
Paul Mitchell, Richard Ivey School of Business, 519 850 2536, .(JavaScript must be enabled to view this email address)
Tracy Holotuk, KPMG Enterprise, 416 777 8460, .(JavaScript must be enabled to view this email address)
Julie Bannerjea, KPMG Enterprise, 416 777 3243, .(JavaScript must be enabled to view this email address)

Links

Cottage Transitions Checklist (pdf)

Northwood Perspective, Summer 2011 issue (pdf)

Family Business E-Newsletter

Upcoming Events

Leading Family Firms - “A Roadmap to Success”

An Invitation

The Business Families Centre at Ivey is pleased to present our 6th Annual Leading Family Firms Program on November 24-25, 2011 at the Spencer Leadership Centre in London, Ontario.

Who Should Attend?

The LFF program is designed to benefit all members of entrepreneurial business families:

·Owners will gain insights into their unique responsibilities; not just their rights
·Non-active family members will better understand the challenges facing the active members and learn how to influence decision making related to family
·Successors will learn and share from the experiences of others and will benefit from better intergenerational understanding
·Spouses will enlighten all family members on the impact a business has on family dynamics

**Maximum value is achieved when several family members, including multi-generations, attend the Leading Family Firms Roadmap Program.

Format

Business families gather at the beautiful Spencer Leadership Centre for 2 days of intensive interaction with fellow family members, other business families, host facilitators and special guest speakers. While commonly referred to as a ‘retreat’ we prefer to describe this program as an ‘advance’ which sets the tone for positive growth for business families.

Thursday, November 24
Leading Family Firms, part one
9:00 am – 5:00 pm
Dinner & Fireside Chat
6:00pm – 9:00pm

Friday, November 25
Leading Family Firms, part two
9:00 am – 4:30 pm

For more information or register, please contact:

David Simpson
Phone: 519-661-3080

Sarah Buck
Phone: 519-661-4221

Save the Date | June 4-7, 2014

The Pierre L. Morrissette Institute for Entrepreneurship is thrilled to announce that the Richard Ivey School of Business has been selected to host the 34th annual Babson College Entrepreneurship Research Conference (BCERC) and Doctoral Consortium to be held June 4-7, 2014.

Founded by Babson College in 1981, BCERC is considered by many to be the premier entrepreneurship research conference in the world. Frontiers of Entrepreneurship Research contains the proceedings of the conference and is the most comprehensive collection of empirical research papers on entrepreneurship.

The Conference and affiliated Doctoral Consortium rotate annually among top schools throughout Europe and North America, attracting over 400 of the world’s leading academics and doctoral researchers.

The Institute and Ivey look forward to showcasing our new School facility when we welcome BCERC to Canada in June 2014.

Click for more information about the Babson College Entrepreneurship Research Conference.

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Ivey Entrepreneurs Index - Powered by KPMG Enterprise™

Ivey Entrepreneurs Index shows entrepreneurs willingness to grow their workforce

81% expect to hire additional employees in spite of declining confidence in the Canadian economy

Click here to download the November 2011 Index Report as a PDF

LONDON, ON November 9, 2011 – The Ivey Entrepreneurs Index found 81% of those surveyed are planning to expand their workforce over the next 12 months, showing general optimism about their business. However, only 65% expect the Canadian economy to grow reflecting a sharp 24% decline from the last survey in April 2011.

Even though confidence in the economy overall is down those surveyed have set bullish targets around revenue and profit growth. The index found 90% of entrepreneurs expect their revenues to grow, and 81% believe their profits will also grow over the period of the next 12 months.

“Even though Canadian entrepreneurs tempered their optimism about economic growth in the most recent survey, they remain confident about their core business. A significant proportion is looking to hire more employees and intend to seek external capital. Both findings suggest that the high growth entrepreneurs in our survey have plans for growth, despite the turbulent economic climate, “said Stewart Thornhill, Executive Director, Pierre L. Morrissette Institute for Entrepreneurship, at the Richard Ivey School of Business.

”Entrepreneurs indicated they will seek external capital to fuel their growth,” explained Dennis Fortnum, Canadian Managing Partner for KPMG Enterprise. “Up twelve percentage points from last spring, this need resonates with what we hear from business owners every day – that despite some unsettling events around the world, they remain optimistic and confident in their ability to drive innovation, growth and profitability in their business.”

“We are very bullish about the year ahead. Over the last couple of years we focused on our core businesses, set realistic expectations and delivered with excellence. We have added staff and will continue to add staff to support our growth in 2012. I believe that the right people with the right culture can deliver amazing results,” said Mike Hetherman, President, CEO, WILLIS.

This is the third release of the semi-annual Ivey Entrepreneurs Index.

The Ivey Entrepreneurs Index is based on a short survey of five questions distributed to Fellows of QuantumShift™. Entrepreneurs are asked what they expect will happen in their private companies over the next 12 months, covering their outlook for the Canadian economy in general as well as prospects around revenue, profits, hiring, and borrowing.

The survey was distributed to 320 entrepreneurs whose companies have average revenue of $30 million with an average of 380 employees. Their businesses have achieved 25 per cent average growth annually. The entrepreneurs surveyed are graduates of QuantumShift™. Co-founded by Richard Ivey School of Business and KPMG Enterprise, each year QuantumShift brings together 40 top Canadian entrepreneurs for a week-long leadership and executive development program.

	October 2011	April 2011	October 2010
Do you expect your company’s revenue to grow?	90%	92%	87%
Do you expect your company’s profit to grow?	81%	89%	84%
Do you expect to seek external capital?	44%	32%	40%
Do you expect to hire additional employees?	81%	80%	78%
Do you expect the Canadian economy (as a whole) to grow?	65%	89%	69%

About the Richard Ivey School of Business, The University of Western Ontario

The Richard Ivey School of Business at The University of Western Ontario is Canada’s leading provider of relevant, innovative and comprehensive business education. Drawing on extensive research and business experience, Ivey faculty provide the best classroom experience, equipping graduates with the skills and capabilities they need to tackle the leadership challenges in today’s complex business world. Ivey offers world-renowned undergraduate and graduate degree programs as well as Executive Development at campuses in London (Ontario), Toronto and Hong Kong. Visit www.ivey.ca.

About KPMG Enterprise

KPMG Enterprise™ is a network of professionals devoted exclusively to helping business owners and entrepreneurs build value and grow thriving enterprises in Canada. Why is that important for business owners and entrepreneurs? Based on their understanding and experience of what private companies face every day, KPMG Enterprise business advisers can provide proactive and effective advice about financial, business, and operational challenges, ultimately helping owners and entrepreneurs build value in their businesses and grow successful private enterprises. Visit kpmg.ca/enterprise.

About QuantumShift

QuantumShift™ is an intense and exclusive leadership development program for Canada’s most promising entrepreneurs, co-founded by the Richard Ivey School of Business and KPMG Enterprise in 2004. The program brings an elite group of 40 entrepreneurs together annually for a rigorous five-day developmental experience at the Ivey Business School in London, Ontario. Admission to QuantumShift is by invitation only selected from amongst hundreds of nominations annually. The curriculum explores topics that matter to high growth entrepreneurs. For further information about the program and its Fellows, visit kpmg.ca/quantumshift. Nominations for QuantumShift 2012 close December 2rd, 2011. To nominate an entrepreneur, contact Tracy Holotuk at 416 777 8460.

For more articles on the Ivey Entrepreneur Index, please click here.

For more information, please contact:
Ivan Langrish, Richard Ivey School of Business, 416 203 0664, .(JavaScript must be enabled to view this email address)
Tracy Holotuk, KPMG Enterprise, 416 777 8460, .(JavaScript must be enabled to view this email address)

Please click here for the May 2011 Index results.

Ivey New Venture Project

The Ivey New Venture Project (INVP) is an entrepreneurial, team-based field project that takes students through the process of developing/refining an idea for a new venture, researching and analyzing that opportunity, writing a detailed and compelling Business Plan and creating/presenting a “Business Plan Pitch” to an external review panel.

INVP provides students with the opportunity to apply their business knowledge to the identification and development of a commercial enterprise and to test and refine their concept through participation in entrepreneurial skill-building classes, high profile business plan competitions and coaching sessions with Ivey faculty and established Entrepreneurs-in-Residence. INVP culminates with the submission of a written plan and a live ‘pitch’ to an external venture review panel.

For more information on the Ivey New Venture Project, click here.

All Events

All upcoming Ivey events.

Entrepreneurial Courses

Creativity & Opportunity Recognition 4422

This course serves as an introduction to the entrepreneurial process and other entrepreneurship classes at Ivey. Specifically, this class focuses on creating or searching for venture ideas and screening them for valid business opportunity. This is typically seen at the beginning of the entrepreneurial process: Searching – Screening – Planning – Financing – Set-up – Start-up – Harvest.

New Venture Creation 4452

The purpose of this course is to explore the many dimensions of new venture creation and growth, and to foster innovation and new business formations in independent and corporate settings. Students will learn to effectively screen venture ideas, formulate a business strategy, assess the potential viability of a new venture, and how, when, how much and what type of financing to raise.

Managing High Growth Companies 4432

This course provides an orientation to what it is like to manage a high growth company. Through a series of case studies, readings and shared experience, students will analyze young, rapidly growing ventures where time and money shortages, uncertainty, and the importance of rigorous evaluation of opportunities take on high orders of intensity. Students will also look at how factors like organizational structure, partnerships and financial expectations for success not only impact a growing concern, but themselves change as a company grows.

Entrepreneurial Finance 4439

The primary focus of this course is on the financial challenges confronting small and medium sized businesses that are growing rapidly or aspire to rapid growth. There is a focus on: (1) understanding the nature of the financing problem, (2) becoming familiar with the many sources of funds for these firms with particular emphasis on banks, angel investors, private placements, institutional venture capital and public issues of equity, (3) becoming familiar with the tax and regulatory environment within which such financing is obtained, and most importantly (4) learning the key elements that enter into the structuring of the “deal” between demanders and suppliers of funds.

Entrepreneurial Marketing 4441

The course focuses on the issues of growing the sales of high-potential ventures. Typically, these are ventures formed with the objective of either doubling sales for an existing business or building $20 million per year of new business from zero in less than five years. The high-potential setting highlights the conflicts between the expectations of employees and investors and the constraints of cash and time.

Leading Family Firms 4465

This course offers insights that are helpful to three types of audiences: (1) students that come from business families who expect to play a key role in family enterprises, (2) students that expect a career in investment banking, financial services or consulting, where there will be a high degree of interaction with business families, (3) entrepreneurs who realize that over the next decade a substantial number of family owned companies will change generational ownership, and many of these will be acquisition and merger candidates. A key purpose of the course is to make students aware of the massive economic role family-controlled businesses play in the global economy. It is a certainty that in the students future careers they will deal with an opportunity, a supplier, an employer or a philanthropic endeavor controlled by a business family. There are unique characteristics of these enterprises, and a key objective is to expose students to these characteristics and identify the strengths, weaknesses and best practices.

Management of Services 4434

This course is intended primarily for students who will work in any industry in the service sector and in any functional area of the organization. It will be of particular interest to those who will conduct business with service producers, or those who will purchase service businesses. This course takes both a strategic as well as an operational perspective and seeks to improve students understanding of organizations that produce services instead of (and in addition to) goods.

Strategic Leadership 4490

This course is designed to help students “wrap their brains” around the paradox of leading and managing. Organizations need leaders with a long-term perspective. This means that they need entrepreneurs and executives who are willing to accept risk and to invest in employee development and training, market research, and research and development. Organizations and new ventures also need executives with a day-to-day perspective who define levels of required return, specify budgets and evaluate subordinates on the basis of objective financial information in addition to the strategic process that led their organization’s performance. The paradox created by the necessity for today’s entrepreneurs to be both leaders and managers is the focus of this course.

Management of Professional Service Firms 4489

The professional service firm represents the confluence of two major trends in the global economy: the growing importance of the service sector and the increasing number of knowledge workers. A fundamental premise of this course is that, irrespective of the profession, professional service firms share a host of management challenges that are different from those in any other sort of organization. These differences are related to a common form of firm ownership — partnerships — the characteristics of professional work, and the needs and personalities of professionals. The course develops frameworks for analysis, classification and management. The objectives of the course are to study the special characteristics of professionalism, to improve our ability to succeed as professionals, and to improve our ability to manage professionals.

Ivey Entrepreneur Newsletter

Passion and persistence

A desire for autonomy is not enough to sustain an entrepreneur. Fei Zhu‘s research shows you must also have passion.

Quantum Shift

A rigorous five-day developmental experience, Quantum Shift annually challenges forty of Canada’s most promising entrepreneurs to improve their leadership style, inspire their business partners and maximize their growth opportunities.

Quantum Shift is for CEOs whose businesses are past start-up. They’re innovative, insightful business leaders. And they’re ready to shift a thriving enterprise to a whole new level of success.

Click to visit Quantum Shift.

Contact The Business Families Centre

David Simpson, MBA
Director, Business Families Centre

Pierre L. Morrissette Institute for Entrepreneurship
Richard Ivey School of Business
The University of Western Ontario
1151 Richmond Street North
London, ON N6A 3K7

Email
Tel: (519) 661-3080
Fax: (519) 850-2306

Business Families Centre Events

Leading Family Firms, “A Roadmap for Success”

The Business Families Centre at Ivey is pleased to invite you to our Fourth Annual Leading Family Firms (LFF) program on February 3rd and 4th, 2011 at the Spencer Leadership Centre in London Ontario. Please see the full event details HERE.

6th Annual National Family Business Day Celebration, 2009

In partnership with the Business Families Centre at the Richard Ivey School of Business on Thursday, October 22nd 2009 in London Ontario from 8:00am - 12:00pm at the historic London Hunt and Country Club. Keynote Speaker: David Bork, one of the world’s leaders in the field of counseling family business. Please see the official invitation HERE.

National Family Business Day, 2008

On Wednesday, October 22, Hartley Richardson, seventh family president, James Richardson & Sons, and his cousin, Carolyn Richardson Hursh, Chairman of the Board, shared the joys, challenges and secrets to success of family business at the 5th annual National Family Business Day celebration hosted by the Canadian Association of Family Enterprise (CAFE) Southwestern Ontario and the Business Families Centre at the Richard Ivey School of Business. See a full album of pictures on our Facebook Page HERE.

5131_109931344313_57559819313_2738828_2567558_n_thumb.jpg

(l to r) David Simpson, BFC Director; Carolyn Richardson Hursh, Chairman of the Board, James Richardson & Sons;
Hartley Richardson, seventh family president, James Richardson & Sons; Larry Wynant, Acting Dean, Richard Ivey School of Business.

Launch of the Business Families Centre, May 2005

(l. to r.) Entrepreneur Philippe de Gaspe Beaubien; Dean Carol Stephenson; David Simpson, BFC Director

Vision and Strategy

The Centre’s formation recognizes the positive and pervasive effect family businesses have on global economies and the benefits accruing from a healthy understanding of the form. We chose “Business Families” (versus the historic tag of Family Businesses) to begin a new chapter of positive discussion, research and support in this area and to link this Centre with Ivey’s support of Entrepreneurs.

At inception, business families begin with an entrepreneur’s initiative. The transition from entrepreneur to business family can take many forms including multi-generational family management, a shift to family ownership (with professional managers), a sale of an enterprise leading to ‘re-seeding’ of capital to a new generation of entrepreneurs, or switching to philanthropic endeavour’s with the accumulated capital. The Centre supports the activities of these business families.

The Purpose

To enhance family business management through outreach programs, applied and academic research and the development of future family business leaders.

The Need

The family business structure is the oldest, most enduring form of commercial enterprise worldwide. In Canada, Family owned enterprises produce 45% of GDP, create nearly 70% of new jobs and employ 50% of the workforce. In the U.S. nearly 60% of public companies are controlled by families, and fully 30% of the S&P 500 are family controlled.

Over the next ten years, it is expected that nearly 75% of these businesses will transition to the next generation due to retirement or death.

Often negatively portrayed (smallness, nepotism, succession squabbles), recent research suggests in fact these firms out perform their counterparts, last longer, enjoy better worker relations and are superior contributors to their respective communities. There is a need to “celebrate” these achievements, understand and promote the strengths, and learn how to avoid the weaknesses.

The Strategy

To achieve the purpose of the Centre, we shall engage in three general areas:

Outreach Programs

The Centre shall be actively engaging family business owners and service providers by:

Delivery materials and programs developed by the Business Families Foundation

Celebrating Family Business through local and national awards

Hosting Family Forums and Speaker series

Providing executive education opportunities

Creating custom programs, and offering Ivey student support via consulting internships

Intellectual Capital

The Centre will develop a base of intellectual capital by:

Publishing the definitive North American casebook series

Developing an Asian case series with the Ivey Asian institute

Creating a functional resource centre including data base of relevant materials for families and advisors

Publish advocacy papers and relevant research in association with the Lawrence Centre on Public Policy, The Chamber of Commerce and other alliance partnersFuture Leaders

The Centre will enhance the development of the leaders of family businesses or their advisory firms by:

Delivering the MBA/HBA elective course “Managing the Family Firm”

Ensuring that new Family Business cases are included in a variety of course offerings including governance, entrepreneurship, strategy, finance and negotiation

Promoting executive education offerings to our Family Business owners and advisors

Offering a specialty program “Leading the Family Firms” modeled on the successful Harvard (US) and IMD (Europe) programs

The Structure

The Centre will be a semi- autonomous body with its own Advisory Board and Executive Director and Academic Director. The Centre will have numerous faculty associates from within Ivey with a variety of research and teaching interests. In addition, the Centre will have outside associates who are practitioners in this field. The Centre itself will be an initiative under the Institute for Entrepreneurship with appropriate reporting procedures.

Funding for the Centre includes the J.R. Shaw Chair in Family Business (for the academic Director), a “Founding Families Initiative” raising funds (and active advisory roles) from firms and families who are active in this area, and The Business Families Foundation (the de Gaspe Beaubien family).

“There are infinite possibilities…..when a family unites in business”

Business Families Foundation

Ivey Entrepreneur-in-Residence (EIR)

Guiding tomorrow’s entrepreneurial business leaders

Ivey Entrepreneurs-in-Residence are people with an outstanding track record as owner-leaders or through their involvement in start-ups, who share their expertise and exceptional knowledge with HBA and MBA students enrolled in the Ivey New Venture Project (INVP). Students gain real life knowledge through one-on-one coaching to develop a thorough business plan ready to take to market.

Role of the EIR

EIRs connect with INVP student teams through a combination of face-to-face meetings, conference calls and emails at least 3 times throughout the project timeline, although many teams and EIRs choose to engage more frequently.

EARLY - EIRs receive an early version of the team’s business proposal. The EIR then provides suggestions, feedback and input about soft-spots and areas of concern. The EIR may also help provide research contacts.

MIDDLE - A second meeting is scheduled around the half-way mark, when EIRs help gauge and guide their team’s progress. At this stage, teams are assessing the results of their research and making strategic decisions about the product, pricing, go-to-market approach and distribution/promotion.

LATE - During the third meeting, EIRs review and help edit the presentation and business plan, and provide final tweaking advice.

END - EIRs are invited to help judge investor presentations made by the students teams, including their own team, at the end of the project.

For more information, please visit the IVEY EIR website or contact:

Ron Close
Director, Ivey New Venture Project
John R. Currie Executive Entrepreneur-in-Residence

Tara Grzegorczyk
INVP/EIR Program Coordinator
Tel: 519-661-2111 Ext. 85409
Fax: 519-850-2306

Publications

Entrepreneurship Cross-Enterprise Leadership Centre

In September 2005, Ivey introduced a model for business education that recognizes and encompasses fundamental changes in the business world due to globalization and technological advances and their impact on the role of the ‘general manager’. Cross-Enterprise Leadership is an action-oriented approach that prepares high-performing Ivey graduates to look beyond the walls, org charts and silos and to approach issues from a perspective that spans the entire organization.

Cross-enterprise leaders need to be able to look beyond specific functions such as finance, marketing and operations to tackle issues of growth, innovation, productivity and globalization - and they must understand how every part of the business fits into a complex business environment. This, of course, is exactly how successful entrepreneurs have always worked, and it explains the role of the Entrepreneurship Research Centre within the Cross-Enterprise Leadership initiative.

For more information on recent publications visit our searchable Research Publications Database or contact Associate Professor of Entrepreneurship and Director of the Entrepreneurship Cross-Enterprise Leadership Centre Simon Parker.

Click to visit the official Research Centre website.

Links for Entrepreneurs

The following links are organized into categories for Small Businesses, Associations and Federal Government. If you know of any additional links that would be informative and beneficial for others please email Ellen Brown. (Please Note: Links will open in a new browser window.)

Associations and Other Organizations
Federal Government
New Venture Software

Associations and Other Organizations

Canadian Chamber of Commerce National association which delivers programs and services (such as training and networking opportunities) to its members to help them improve their market performance.

Canadian Federation of Independent Business National association that offers information and support to its members.

Canadian Venture Capital Association Promotes Canadian business through the use of venture capital and through networking, research and education.

Canadian Youth Business Foundation A non-profit, private sector initiative designed to provide mentoring, business support and lending to young Canadian entrepreneurs.

Centre for Women in Business Provides support and information to women who own, or are considering opening a small business.

Entrepreneur.com This website provides interesting articles for entrepreneurs as well as for people starting a business, small business and how-to’s.

Fast Company Is a magazine that is published monthly. Their website features the current issue of Fast Company, archived issues, are other articles that are helpful for entrepreneurs.

Inc.com Is a magazine on business-management issues providing strategies for starting, growing and running your own business more effectively and successfully.

Profit Magazine This website offers resources to Canadian entrepreneurs focusing on a “how to” approach to growth strategies including marketing and finance, making technology work, developing export markets, innovation and motivation.

TechAlliance Is an umbrella organization formed with five key technology groups in London Ontario including the boards of the London High Technology Association, Biotech London Council, IT London Council and London Venture Groups.

The Ontario Business Service Centre Provides links to several useful financing resources.

The Wall Street Journal (subscription needed for full stories) See also www.startupjournal.com which does not require a subscription.

Federal Government

Business Development Bank of Canada Offers a complete range of services, particularly financial, management training and specialized consultation services, to assist small and medium-sized businesses.

Canada Business Service Centres (CBSCs) CBSCs are a collaborative effort between federal, provincial and private-sector organizations which provide information on government services, programs and regulations. Centres distribute videos, publications and offer seminars. A CBSC is in a major urban centre in each province – check your telephone directory, contact your nearest Industry Canada office or visit the web site.

Canadian Commercial Corporation As an export facilitator, the CCC provides Canadian companies with access to market opportunities and a wide range of export contracting services.

Export Development Canada Provides a full range of trade finance services that helps exporters and investors do business in up to 200 countries, including higher-risk and emerging markets.

Industry Canada Offers a wealth of information, programs and services. Refer to its web site or publication Guide to Government of Canada Services and Support for Small Business for contact points and details on everything from getting started to accessing new markets. Also operates Strategies, Canada’s largest business information web site.

Statistics Canada Collects and disseminates data on social and economic issues. Its Small Business and Special Survey Division provides information such as small business profiles, up-to-date details about financial expense and operating ratios, balance sheet information and provincial data for most industries. Regional offices listed in telephone directories.

New Venture Software

The NewVenture Website is the academic version of the award winning expert assessment tools The NewVenture Template and the NewVenture Profile. These online tools can help anyone involved with starting a venture, anyone involved in improving an on-going business and any corporation evaluating new business opportunities.

Entrepreneurship Advisory Council

The Advisory Council exists to help further the vision and aims of the IFE at the Richard Ivey School of Business. It acts as a powerful and visible body of leadership, influence and support within the constituencies the Institute serves.

David Wright, HBA ’83 - Council Chair
Agora Consulting Partners Inc

Ian Aitken, HBA ’87
Pembroke Management Ltd

Bruce Barker
Bennett Jones LLP

Andrew Barnicke, HBA ’83
DTZ Barnicke Investment Group

Michael Boyd, MBA ’76
Corporate Advisor & Director

Connie Clerici, QS ‘08
Closing the Gap Healthcare Group

Ron Close, HBA ’81
Richard Ivey School of Business

Bob Dhillon, EMBA ’98
Mainstreet Equity Corp

Stephen Gunn, MBA ’81
Sleep Country Canada

James Hall, HBA ’71
James Hall Advisors Inc

Pamela Jeffery, HBA ’84, MBA ‘88
The Jeffery Group Ltd

Melinda Lehman, MBA ’94
Happen

Pierre Morrissette, MBA ’72
Pelmorex Media Inc

Eric Morse
Richard Ivey School of Business

Alexa Nick, MBA ’95
Customer Realities Group Inc, myPractice Canada Inc, myPractice LLC

Larry Rosen, MBA ’81
Harry Rosen Inc

John Rothschild, MBA ’73
Prime Restaurants of Canada Inc

Paul Sabourin, MBA ’80
Polar Securities Inc

Stephen Suske, MBA ’77
Suske Capital Management

Stewart Thornhill
Richard Ivey School of Business

Michael White, MBA ’00
IBK Capital Corp

Scholarships

The Institute is fortunate to enjoy the support of alumni and friends who are committed to celebrating academic excellence in entrepreneurship. To that end, the Institute is pleased to offer a number of scholarships and awards for students engaged in entrepreneurship at Ivey.

Best efforts have been made to furnish accurate data. Award amounts and other details are subject to change without notice. All award amounts are subject to University approval. (Updated: September 2010)

Click to view photos of the Scholarship Dinner.

HBA Awards & Scholarships

Courthill Capital Leadership Award
1 at $5,000

Awarded to a full-time undergraduate student at the Richard Ivey School of Business who has been accepted into the Certificate in Entrepreneurship. Preference will be given to a female candidate who best personifies the spirit, passion and drive necessary to become a successful entrepreneur. This award was established by Carolyn Cross, HBA ‘84, to support and recognize outstanding women in management who are in pursuit of excellence.

Gudewill Scholarships for Entrepreneurship
2 at $10,000

Awarded to an incoming student with a minimum average of 80% who attended a publicly funded high school. Preference will be given to residents of British Columbia and/or students with an entrepreneurial spirit. These awards were established by the Gudewill Family to help recruit and retain the best and brightest students to Ivey.

J. Armand Bombardier HBA Scholarships in Entrepreneurship
2 at $4,000

Awarded to a student finishing HBA 1 at the Richard Ivey School of Business, based on academic achievement, demonstrated community leadership and an interest in entrepreneurship. Successful candidates will have been accepted into the Certificate in Entrepreneurship. These awards were established by a gift from the J. Armand Bombardier Foundation.

John R. Currie Award in Entrepreneurship
1 at $5,000

Awarded to a full-time second year HBA student who is entering the Certificate in Entrepreneurship at the Richard Ivey School of Business. Preference will be given to a Canadian student. This award was made possible through a donation by Mr. John Currie, HBA ‘60.

Pierre L. Morrissette HBA Award in Entrepreneurship
1 at $5,000

Awarded to a student entering first year of a full-time undergraduate program at Western, who has also applied to the Advanced Entry Opportunity (AEO) at the Richard Ivey School of Business. In addition to illustrating outstanding academic quality (minimum 90% admission average), the successful applicant will have expressed an interest in entrepreneurship as per the student’s application to AEO. This award was established by Pierre Morrissette, MBA ’72, Chairman to recognize the 10th anniversary between The Weather Network (Canada) and Weather Channel Networks (USA).

Sabourin Family HBA Scholarship in Entrepreneurship
1 at $5,000

Awarded to a full-time undergraduate HBA student at the Richard Ivey School of Business who is applying for acceptance into the Certificate in Entrepreneurship and who personifies the spirit, passion and drive necessary to become a successful entrepreneur. This scholarship was made possible through a donation from Mr. Paul Sabourin, MBA ‘80.

Tevya Rosenberg HBA Award in Entrepreneurship
1 at $5,000

Awarded to a student who is entering HBA 1 at the Richard Ivey School of Business. Preference will be given to a female student who has been accepted into the Certificate in Entrepreneurship. This award was established with a gift from Tevya Rosenberg, HBA ‘73.

MBA Awards & Scholarships

Hydrogenics MBA Award in Entrepreneurship
1 at $4,750

Awarded to a full-time student entering the MBA program who has been accepted into the Certificate in Entrepreneurship at the Ivey Business School. This award was made possible by a gift from Pierre Rivard, MBA ’83.

Nelson M. Davis Scholarship
2 at $4,800

Awarded to a student entering the MBA program who demonstrates academic performance, leadership ability, entrepreneurial skills and an interest in contributing to the development of both the Canadian economy and one’s own community. These awards were made possible as a result of a donation from the Nelson M. Davis Trust Fund. Mr. Davis (1906-1979) was a prominent Toronto businessman whose knowledge, breadth of vision and accomplishments were outstanding endorsements of the free enterprise system.

Schulich Award in Entrepreneurship
3 at $2,500

Awarded to an MBA student at the Richard Ivey School of Business with outstanding academic achievement (minimum 78% average) and an entrepreneurial drive and spirit. This award was made possible by a gift from Mr. Seymour Schulich.

PhD Scholarships

Pierre L. Morrissette Institute for Entrepreneurship Doctoral Scholarships
3 @ $25,000

Awarded to a full-time doctoral student pursuing a PhD in General Management with a declared interest in entrepreneurship, as well as demonstrated academic and professional achievements. A student may receive the Pierre L. Morrissette Institute for Entrepreneurship Doctoral Scholarship for up to four years.

This award was established by the Pierre L. Morrissette Institute for Entrepreneurship at the Richard Ivey School of Business.

For complete details on any of these Awards and Scholarships, and for information on how to apply, please contact the Ivey Financial Aid Office.

Case Studies

Case studies are interactive, dynamic, and participant-driven teaching tools designed to guide students through real-world case examples of business issues. Students learn to analyze information, develop rational alternatives, make decisions, and recommend implementation tactics in time-sensitive situations, just as they would as practicing managers.

Ivey is the second largest producer of management case studies in the world. These cases are used extensively in our degree and executive education programs, and are also available to other universities, business and government organizations.

The Institute has undertaken the laborious task of both identifying entrepreneurship cases within the Ivey database and classifying them into subcategories. We have also undertaken a major case writing initiative that will add cases to areas (subcategories) that have had minimal to no coverage. The outcome of this exercise will potentially be the publication of a series of entrepreneurship case books.

Categories of Entrepreneurship Cases

International Entrepreneurship
Women Entrepreneurs
Family Business
Corporate Entrepreneurship
Sustainable Entrepreneurship (Environment focus)
Social Entrepreneurship

Entrepreneurial Finance

Venture Capital
Initial Public Offering
Mergers & Acquisitions
Boot Strapping
Harvest (deal structure)
Cash Flow Management

Entrepreneurship “Process”

Searching for Ideas/Opportunities
Screening Ideas for Business Opportunities
Planning (Operations & Business Plans)
Entrepreneurial Marketing
Entrepreneurial Strategy (Harvest, etc.)
Stakeholder Planning
Vision/Principles/Values
Legal Issues (Intellectual Property)
Growth of Entrepreneurial Ventures
Franchising

For more information on Entrepreneurship cases please contact Ivey Publishing.

PhD Scholarships

The PhD program is an important means of providing entrepreneurial research assistance to faculty, and increasing the overall academic output of Ivey. Educating PhD candidates at Ivey is important because it gives us the opportunity to train teachers of the next generation of entrepreneurs.

The IFE is offering a scholarship for PhD students who wish to study entrepreneurship. IFE would like to have a minimum of one PhD student per year (for a total of 4). The fall of 2003 will saw the enrolment of the first Ph.D. student in the area of entrepreneurship funded by the Institute. We are encouraged by our progress in this regard, and excited about the future potential of entrepreneurship research and study at Ivey. Research output from these students will help raise the profile of entrepreneurial research at Ivey, and give the Institute academic credibility in this field. Special thanks to Starcan Corporation for their generous support. The first recipient of the Starcan Doctoral Scholarship is Vanessa Strike.

For more information on a PhD in the area of entrepreneurship please contact Stewart Thornhill at the Institute for Entrepreneurship.

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Newsletter - Institute Buzz

November 2011

By Stewart Thornhill
Executive Director, Pierre L. Morrissette Institute for Entrepreneurship

Inflection points indicate that there’s been a change in a growth trajectory. It’s a term sometimes used by executives to explain why earnings weren’t as strong as forecast; the implication is that things are about to get much better. In our case at the Entrepreneurship Institute, the inflection signals a pause in the incredible growth we’ve experienced in the past three years. During that period, we’ve added new faculty every year, Ivey has grown its HBA program by three sections, the M.Sc. program has joined the curriculum and Entrepreneurship has become part of our EMBA curriculum. And that’s in addition to the tremendous participants in our New Venture Project since Ron Close became our John Currie Executive Entrepreneur in Residence and built a stellar team of Virtual Entrepreneurs in Residence to work with our students. Also worth mentioning is the Ivey Entrepreneurs Index, Powered by KPMG Enterprise .™ This semi-annual economic bellwether, which surveys Quantum Shift Fellows, was released for the third time earlier this month and we celebrated the launch by opening the markets for trading at the TSX.

As we progress through what will be our penultimate year in the “old” Ivey building, the feeling is one of taking a deep breath in preparation for even greater effort. Once we complete the move to the new building on Western Road (and work our way through the inevitable challenges of such a transition), we’ll have our programs, faculty, and staff together under one roof and, for good measure, we’ll add yet another HBA section to bring the total to eight. So we’re not done growing, but we are taking a brief rest before the next stage. And this gives us an opportunity to streamline our programs, refresh our materials, and get ready to continue our mission of growing Canada’s next generation of entrepreneurs.

Entrepreneurship Annual Report

An increasingly strong and vibrant entrepreneurial spirit in Canada is creating unprecedented demand for entrepreneurship education. More business students than ever are seeking entrepreneurship programs and courses, including those who continue to pursue more traditional career paths in finance and consulting.

Full 2011 Annual Report HERE.

2010 Annual Report

2009 Annual Report

2008 Annual Report

Alumni in the News

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News & Events

Check out news and upcoming events

Video

Check here from time to time for video of lectures, interviews and activities and events sponsored by Ivey.

Articles

Check out the lastest articles in Entrepreneurship below.

Blogs

Welcome to Ivey’s Entrepreneurship Blog. We’ll keep track of entrepreneurial thoughts and activities taking place at Ivey and offer insight with interviews and feature posts of successful leaders in our community.

Click a ‘category’ link in the left hand side bar or click the blog title below for recent posts in the IVEY Entrepreneurship Blog.

Also, don’t forget to subscribe to our RSS feed by clicking the ‘rss’ icon to the right or check back frequently for regular updates.

Research

One of the most important roles for any business school is the generation of intellectual capital – the continuous development of new insights and new models for the discovery of best practices that have direct relevance to managers today. Schools that deliver cutting edge research not only provide real value to the academic community but also ensure that their programs are consistently renewed with new insights, which have a direct effect on the business community.

Medical Technology Innovation (MTI) Symposium

A two day conference to explore the business and management issues related to the development and commercialization, innovation and management of medical technologies.

The Richard Ivey School of Business Entrepreneurship Cross-Enterprise Centre presents:

MEDICAL TECHNOLOGY ENTREPRENEURSHIP
Friday June 10, 2011

The Richard Ivey School of Business Centre for Health Innovation & Leadership presents:

MANAGEMENT OF MEDICAL TECHNOLOGY INNOVATION
Saturday June 11, 2011

Objectives: Academics, entrepreneurs, managers, and practitioners are expected to develop a better understanding of strategic decisions associated with commercialization and the innovation of medical technology. We encourage discussion of their own problems related to the design, development, commercialization, and manufacturing of medical technologies.

Who should attend: Academics, entrepreneurs, managers, practitioners, financiers, policy-makers, and regulators of medical technology innovation. This conference is particularly relative to senior managers of start-up or established medical technology companies.

What you should expect: Top-tier academic and industry presentations on the medical technology innovation. Presenters are encouraged to solve real-world problems in the industry, and share solutions with policy-makers, entrepreneurs, and managers.

Proposed themes include: From the laboratory to the market, the commercialization environment,the challenges of managing an established medical technology company, and public policy considerations of medical technology innovation.

Visit the Event Website for more information.

Business & Family

Families in business must learn and grow together, which is why Ivey’s Business Families Centre (BFC) seeks to engage all members of the business family - from the entrepreneurial founders who contemplate succession planning as they seek to transition out of active leadership; to second and third generation owner-leaders who must innovate and respond to continually evolving industries, economies and consumer preferences; to Generation Y who, on the threshold of launching their careers, are often faced with the complex decision of whether or when to enter the family firm.

The BFC is also committed to helping family-controlled businesses remain entrepreneurial, a key factor in ensuring long term viability, and to fostering deeper understanding of the strengths and challenges of the business, the family and the complex relationship that ties one to the other.

At Ivey, HBA and MBA students learn about the influence and impact that family-controlled companies have had on the economies of both Canada and the world, gain insight into the motivations of successful business family owner-leaders, and perhaps be inspired to one day launch or return to their own family firm and, in so doing, continue the Ivey tradition of studying, supporting and celebrating business families.

Dave Simpson, MBA ’88

Director, Business Families Centre

Below: Dave Simpson with Bernie Bierbaum, President of CAFE Southwestern Ontario.

Student Activities

3 + 5 Dinners
IBK Capital Business Plan Competition (graduate)
Wes Nicol Business Plan Competition (undergraduate)
LEADER Project
Entrepreneurship Clubs

What’s 3 + 5 ? A lot more than you may think!

The Pierre L. Morrissette Institute for Entrepreneurship has created a unique opportunity for Ivey HBA and MBA students to meet with and learn from several of the School’s most succesful entrepreneurial alumni.

3+5 Dinners create the opportunity for three established entrepreneurs with a common area of expertise to have dinner with five dynamic Ivey students who are passionate about entrepreneurship.

This table of eight will discuss one of any number of topics relating to entrepreneurship such as:

Start Ups: Assessing Opportunities
Preparing to Meet a Financial Leader
Private Equity: Flow Generation, Deal Making, Closing, Portfolio Management & the Exit
Launching a Financial Service or Money Management Business
International Trade: Opportunities and Challenges
Venture Capital
How to Manage your Board of Directors

...to name but a few.

Participation is limited to HBA and MBA students actively engaged in entrepreneurial courses and initiatives at Ivey. Dinners are hosted by the entrepreneurs at a restaurant or club of their choice. Entrepreneur and student bios are circulated to the participants in advance of the dinner.

If you are interested in hosting a 3+5 Dinner or would like more information about this or other entrepreneurial initiatives offered by the Institute, please contact Deanna Bond, Initiative Coordinator, Phone: 519.661.3530

IBK Capital - Ivey Business Plan Competition

The IBK Capital - Ivey Business Plan Competition is Canada’s premiere student business plan competition. With entrepreneurial teams drawn from universities throughout North America, the Competition offers graduate students an opportunity to present innovative new ventures to potential investors, while providing investors with an advance look at up-and-coming entrepreneurs.

Organized by student volunteers and funded by private sponsorship, the winner receives automatic entry to the Venture Labs Investment Competition at the University of Texas at Austin, to compete for over $100,000 in cash and prizes.

View Competition pictures here.

Wes Nicol Business Plan Competition

Launched in 1997, The Nicol Award is a national program designed to generate and reward interest in entrepreneurship on the part of undergraduate students in any faculty or field of study at participating universities across Canada.

At Ivey, the West Nicol Business Plan Competition invites HBA students to pitch their new venture for a chance to win cash and the opportunity to compete against Canada’s top undergraduate entrepreneurs for The Nicol Entrepreneurial Award, in our nation’s capital - Ottawa, Canada.

LEADER Project

Founded in 1991 by Ivey MBA students. LEADER - Leading Education and Development in Emerging Regions - deploys teams of Ivey students to international sites where they teach foundational business decision making and entrepreneurial skills over a 2 week period. This rich exchange of knowledge and culture benefits both the overseas students and Ivey volunteer instructors.

While LEADER’s primary mission is to provide a unique and valuable learning opportunity to eager students in eastern Europe and Russia, the program also challenges Ivey student instructors to find effective ways of adapting and conveying their knowledge and expertise to students who are often operating in substantially different business environments.

The Institute supports LEADER through funding and the development of curriculum designed to engage individuals with entrepreneurial talent and ambition in moving forward through their own invention.

Visit LEADER for more details.

Entrepreneurship Clubs

Entrepreneurship-minded HBA and MBA students lead and participate in Clubs dedicated to educating, encouraging and inspiring entrepreneurship among members.

The clubs provide opportunities for members to realize their goals through networking events, idea exchanges, and support from Ivey faculty and alumni. In addition, the Clubs have provided opportunities for students who want to work in an entrepreneurial environment, develop and hone entrepreneurial skills, or become global leaders, entrepreneurs and venture capitalists.

The Entrepreneurship clubs work closely with the Institute in planning events and networking with Ivey alumni. Past events include: Financing for Entrepreneurs, The Ivey Film Festival, Social Enterprise Bootcamp, Lessons from an Angel Investor (Video), Summer Business Ideas, Microfinance Day, and Craig Simpson - Business and the Team (Video).

Certificate in Entrepreneurship

The Certificate in Entrepreneurship was created to engage Ivey students in the knowledge and practice of entrepreneurship, which aims to enhance their ability to achieve their professional, economic and personal dreams.

Students enrolled in the Certificate undertake a coordinated set of courses and experiences that will position them to begin their entrepreneurial journeys.

The Certificate is a valuable experience for students who: are committed to starting a new business at some point in the future; or know that many of the best employers seek employess with entrepreneurial skills and abilities.

For Certificate requirements and how to apply, please visit:

Certificate for Ivey MBA
Overview and Requirements
Application (MBA)

Certificate for Ivey HBA
Information Session Slideshow
Application (HBA)

Learning that transforms lives

While knowing how to write a compelling business plan is important to the successful launch of a new venture, students who spend all their time doing this will be good at writing business plans but not necessarily good at being entrepreneurs.

At Ivey, we believe it is more important to be immersed in a variety of entrepreneurial experiences, so that students learn HOW to become an entrepreneur rather than ABOUT entrepreneurship.

To this end, the Institute delivers courses and experiential programs for Ivey HBA, MBA, MSc and EMBA students that empower them to explore entrepreneurship in a challenging yet supportive environment.

Entrepreneurship Faculty

Brian Anderson
Assistant Professor of Entrepreneurship

Oana Branzei
Assistant Professor, Strategy
David G Burgoyne Faculty Fellow

Ron Close
John R. Currie Executive Entrepreneur-in-Residence

Ken Hardy
Professor Emeritus, Marketing

Jim Hatch
Professor

Mike Meagher
Lecturer

Rob Mitchell
Assistant Professor of Entrepreneurship
Donald G & Elizabeth R Ness Faculty Fellow in Entrepreneurship

Eric Morse
Associate Professor

Bob Nourse
Adjunct Professor

Simon Parker
Associate Professor
MBA ‘80 Professor in Entrepreneurship

Dave Simpson
Lecturer

Stewart Thornhill
Associate Professor

Christopher Williams
Assistant Professor, International Business
Walter A Thompson Faculty Fellow

The Entrepreneurship Team

Professor Stewart Thornhill
Executive Director,  Pierre L. Morrissette Institute for Entrepreneurship

Deanna Bond
Initiatives Coordinator

Sarah Buck
Operations Manager

Ron Close
Director, Ivey New Venture Project  and Entrepreneur-in-Residence Program

Tara Grzegorczyk
Coordinator, Ivey New Venture Project and Entrepreneur-in-Residence Program

Professor Simon C. Parker
Director, Entrepreneurship Cross-Enterprise Leadership Centre

Dave Simpson
Director, Business Families Centre

Richard Ivey School of Business

Contact

Articles & Blogs

Do you have an entrepreneurial spirit? There is always something happening for you at Ivey. See the latest posts for the most recent entrepreneurial activity at Ivey.

Business & Family

Entrepreneurship at Ivey

The Pierre L. Morrissette Institute for Entrepreneurship endeavors to be the premier entrepreneurship centre in Canada and respected throughout the world. Our goal is to serve entrepreneurs from start-up to succession.

The institute works with students to build a foundation from which to successfully launch new businesses; with Canada’s best entrepreneurs to take their businesses to the next level; and with business families to facilitate a successful transition to next generation or next opportunity. The Institute supports all of this work through attention to research in areas of high growth and entrepreneurial learning.

Entrepreneurship at Ivey

Launched in 1995 under the banner Institute for Entrepreneurship, Innovation & Growth, the Institute’s initial focus was to create case studies unique to entrepreneurship and family business, and to teach the core principles of business plan development. Under the leadership of Dr. Eric Morse (2002-2008) and Dr. Stewart Thornhill (2008-present) the Institute broadened its research focus, implemented dynamic new student programs and fulfilled a mandate to secure independent funding.
In January 2007, the Institute was renamed the Pierre L. Morrissette Institute for Entrepreneurship in honour and appreciation of a generous gift by Pierre Morrissette, MBA ’72, Chairman, President & CEO of Pelmorex Media Inc.
Today, the Institute endeavours to be the premier entrepreneurship centre in Canada and respected throughout the world. Our goal is to serve entrepreneurs from start-up to succession.
The Institute works with students to build a foundation from which to successfully launch new businesses; with Canada’s best entrepreneurs to take their businesses to the next level; and with business families to facilitate a successful transition to next generation or next opportunity. The Institute supports this work through research in areas of high growth and entrepreneurial learning.
The Entrepreneurship Cross-Enterprise Leadership Centre is the Institute’s research arm, which serves as a forum for faculty and doctoral candidates with a diverse range of research interests to cultivate collaborative theories, develop teaching cases and advance research for publication in peer-reviewed journals. The Centre is also involved in disseminating the work of its members through academic conferences, workshops, media and outreach. In June 2014, the Centre will co-host the 34th annual Babson College Entrepreneurship Research Conference (BCERC) and Doctoral Consortium.