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From the Dean in Spring 2009

From the Dean in Spring 2009

Wherever you are today – from the boardroom to the classroom– chances are you’ve already seen or heard a great deal about the current economic downturn. With all the doom and gloom,many people are searching for some good news.

While there is no doubt that Canadian universities have been affected by the global financial situation (endowments are down and many capital projects have been put on hold) overall, business schools appear to be something of a safe harbour. The reality is that MBA applications have increased substantially at many top b-schools like Queen’s. So what’s going on?

MBA Applications On The Rise

MBA enrolment numbers tend to be counter-cyclical to the economy. Whether it’s about finding new jobs, reaching more senior positions or gaining a competitive edge, during an economic downturn many people head back to school to sharpen their skills, acquire new expertise and build their credentials. Queen’s has seen the largest-ever increase in applications to our full-time MBA program this year, and most experts would agree we’ve got a long way to go before the economy brightens. Despite this growth in the quantity of applications, the quality of applicants remains high, with average GMAT scores consistently above 650. To accommodate this demand, we are increasing the intake for the Class of 2010, who arrive this May. The counter-cyclical interest in MBA programs, however, does not mean applications to all programs are up. On the executive education front, our enrolment numbers are tracking consistent with this time last year. While we’d prefer growth, these levels are encouraging, since many other business schools are reporting that their numbers are down significantly.

Investing In People And Infrastructure

Despite our strength,by no means are we immune to today’s challenges. As you know,we are in the midst of fundraising $22million for the expansion of Goodes Hall. With 75,000 square feet of increased collaborative workspace, classrooms and offices,QSB is poised to increase our student intake and faculty recruitment while maintaining the intimate nature of our student experience. While our fundraising efforts keep pace with the economic recovery,we remain focused on achieving our goal. Our generous supporters have invested just over $11million so far – thank you!

Your Career Path

We know that the economy has had an adverse impact on some of our alumni, particularly those working in sectors that have been hit hard by the downturn. If you find yourself looking for the next step in your career, please remember that the Queen’s School of Business Career Centre is open to alumni to support your career search with coaching services and access to our recruiters. And don’t forget Queen’s Business Clubs are active in major Canadian and international cities, providing excellent networking opportunities and timely discussions of business issues. Get a listing of events near you »

Honouring Memorable Professors

Finally, as part of the celebration of our 90th anniversary in 2009, I am pleased to announce the launch of the QSB Faculty Hall of Fame – a new initiative that recognizes faculty members who have had the greatest influence on the thousands of students at Queen's School of Business, and that celebrates our long and successful history. Thanks to our alumni and friends who sent in nominations by the due date of April 17. For more information about this initiative, we will induct the first honorees at the QSB Luncheon on Saturday, May 23, in Goodes Hall during Queen's Spring Reunion Weekend. I hope to see you there for a weekend of good times, good friends ... and great new memories!

David M. Saunders, PhD
Dean, Queen’s School of Business