From The Dean - Winter 2009
It would have been hard to miss the story of the year in 2008: the economic crisis – though recent developments in Ottawa come a close second!
That the economy is in crisis is unquestionable. However, how we got to this troubling place – and more importantly where we go from here – are issues that beg many questions, and we’re facing no shortage of them at Queen’s School of Business. I’ll address some of them now.
Are we changing our curriculum? The short answer is no. Whether the economy is booming or busting, our first priority is to teach tomorrow’s business leaders the fundamentals of business (including risk management, ethics and judgement) and help them develop a global perspective. These are the core skills our graduates need. That said, our faculty are well connected to the business world outside of the classroom and are actively applying the models, cases and theories they teach to what’s happening from Main Street to Wall Street.
How are we helping our students and grads find jobs? We have always been committed to the career development of our students and alumni, and we have offered support in this challenging market by adding staff to our Business Career Centre to provide coaching and augment recruiter relationships. In addition to finding our current students jobs, we’re supporting alumni who are back in the job market.
What do QSB thought leaders think? We’re fortunate to have numerous members of the QSB community who contribute insight and expertise to the current market mayhem. Our faculty are regularly quoted in the media, and alumnus Bill Bamber (MBA’94) is co-author of Bear Trap: The Fall of Bear Stearns and the Panic of 2008, an excerpt from which appears on page 12. Bill shared his story, as told in this riveting, first-hand account of the 85- year-old firm’s demise, at presentations with Finance Professor Louis Gagnon, to QSB students in Kingston and at Queen’s Business Club events for alumni across Canada and in New York.
Back in Kingston, our current MBA class recently had the benefit of a guest lecture from Jerry del Missier, BSc’85,MBA’87, President of Barclay’s Capital. Jerry took questions from students and spoke on current market conditions and the Lehman Brothers deal in which Barclay’s was involved.
Can you still raise money? The need to constantly re-invest in the quality and infrastructure of Queen’s School of Business doesn’t take a break in tough times. Despite economic challenges, however, we’re steadily progressing towards our $22-million goal to finance the expansion of the business school. Back in March, our undergraduate students approved a $1.2-million pledge over 10 years to support the expansion. And just this month,we confirmed a $2-million donation, bringing us to the $11-million halfway mark.
One question we’ve faced that is unrelated to the economic crisis (but equally concerning for some) is the future of Homecoming. As you may know, Principal Tom Williams recently made the decision to move Queen’s Homecoming for a two-year trial from its traditional fall timing to a Spring Reunion Weekend, taking place May 22-24,2009.This decision was made after broad consultation with stakeholders, including alumni, in order to disassociate sanctioned Queen’s Homecoming activities from a dangerous off-campus Aberdeen Street party that has been escalating in recent years.
I have personally witnessed this off-campus party grow increasingly dangerous with each year and believe it is critical that Queen's places the safety of students and alumni first – and that we work together to maintain and enhance the reputation of the University. I am confident that the Spring Reunion Weekend will provide a great opportunity for our alumni to reconnect with Queen’s.
Finally, I’m very pleased to inform you that for the third consecutive time Queen’s ranked #1 in the world outside the U.S. in BusinessWeek’s “Best B-Schools Ranking.” It’s a tremendous accomplishment for the school on the world stage and a credit to our outstanding students, alumni, faculty and staff.
As always, I welcome your questions or comments. Please feel free to contact me directly at dsaunders@business.queensu.ca.
David M. Saunders, PhD
Dean, Queen’s School of Business