Richard ivey school of business

Coordinates: 43°00′27″N 81°16′22″W / 43.00759°N 81.2728°W / 43.00759; -81.2728

Ivey Business School (Ivey) is the business school of Western University, a public university located in London, Ontario, Canada. Ivey is one of Canada's oldest business schools. It offers full-time undergraduate (HBA), MBA, MSc, and PhD programs and also maintains two teaching facilities in Toronto and Hong Kong for its EMBA and executive development programs.

Rankings from Businessweek, Financial Times, and QS Top MBA have consistently placed Ivey among the top business schools in the world. Ivey is also accredited with establishing Canada's first MBA and PhD program in Business. In 2012, Ivey has been ranked 7th internationally and 2nd in Canada by Bloomberg Businessweek.

The school was officially created In 1950, when Western University created a separate faculty as the School of Business Administration. In 1995, the school was renamed the Richard Ivey School of Business after an $11 million donation by the Richard M. Ivey family. The school is named after Richard G. Ivey (father of Richard M. Ivey). In 1998, Ivey was the first North American business school to open a campus in Hong Kong offering an Executive MBA program at the Cheng Yu Tung Management Institute.[1]

Ivey's dean is Bob Kennedy,[2] with a full-time faculty of 135 plus 12 lecturers.[3] The school publishes an undergraduate business strategy publication, the Ivey Business Review, and a bi-monthly business magazine, Ivey Business Journal.

In 2013, the School abbreviated its name to "Ivey Business School" and updated its

Programs

  • Full-time undergraduate Honors Business Administration (HBA)
  • Full-time graduate degree programs (MBA, MSc and PhD)
  • Executive MBA (EMBA) program in two locations: Downtown Toronto (Exchange Tower main floor) and Hong Kong
  • Accelerated MBA (AMBA) program available to recent HBA graduates only
  • PhD in Business Administration
  • Pre-business Courses (one each for years one and two of university)
  • Executive Development (core program plus custom programs for corporations) [5]

Honors Business Administration

The Ivey HBA (Bachelor of Arts in Honors Business Administration) was the first degree program in business at the University of Western Ontario. The program was modeled on Harvard Business School's case method. A class of six men were the programs first graduates in 1923.[1]

In 2010, the HBA program grew to 525 students with the final program size of 600 students set for 2013.[6] In 2012, 92% of Ivey HBA graduates found permanent placements within 3 months of graduation, with an average starting compensation (includes base salary, signing bonus, and other guaranteed compensation) of $61,298.[7]

The HBA program is a second-entry, two-year program that enrolls students who have completed two years of undergraduate study (in any faculty at any recognized university). First year Ivey students, known as HBA1s, are typically in their third year of university. Previously, prospective students applied for admission to Ivey during their second year of university. In 1998, Ivey introduced the Advanced Entry Opportunity status (AEO), a conditional pre-admission status offered to secondary school students.

Advanced Entry Opportunity (AEO) students may study in any faculty of interest at the University of Western Ontario for their first two years of university. In order to maintain AEO status and progress to the Ivey HBA in year 3, students must maintain an overall two-year average of at least 80% with a full course load and continued involvement, achievement, and leadership in extracurricular activities in years 1 and 2. 66% of the entering class of 2009 were admitted with AEO status, while the remaining 33% were non-AEO students from Western and other universities who discovered an interest in business during their first two years of study.[8]

High school applicants who wish to attain the Ivey Advanced Entry Opportunity (AEO) Status must demonstrate academic ability as well as extracurricular involvement—both of which are key aspects that the school considers when choosing its class.[9] A 90%+ grade average is seen as a competitive application for AEO status out of secondary school, although candidates with lower averages and strong extra-curriculars are accepted.[10]

The HBA1 year has no elective course work. HBAs are placed into "sections" of 75 students and work with the same classmates, the same professors, and in the same classroom year-round. The curriculum includes courses in finance, accounting, marketing, operations management, organizational behavior, and general management. All courses are taught using the case method with the majority of cases written and produced by Ivey professors. The HBA2 year is less structured with students taking only three required courses along with elective courses that tailor to individual interests.[11]

The Ivey HBA program operates on an annual private tuition model of approximately $24,000 per HBA year.[12]

Master of Business Administration

The Ivey full-time MBA was created in 1948 and was Canada's first MBA program as well as the first one offered outside of the United States. Its first class graduated in 1950. The program was modeled on the Harvard Business School MBA as a two-year program. In 2006, Ivey revamped the MBA program after a review of the school's approach to business education.[3] The program was converted to a 12-month program and was relocated from the University of Western Ontario campus to the Spencer Leadership Centre. A Health Sector Stream is offered through the Ivey Centre for Health Innovation and Leadership.[13] The program enrolled 146 students in the class of 2011.[14]

Ivey[15] offers networking opportunities. With over 22,000 alumni in 99 countries, some of the formal networking initiatives include:

  • The Alumni Partnership Program involves top Ivey alumni who have volunteered to act as mentors to current students and alumni. Students can choose to be partner with an alumnus based on a number of criteria including function, industry or geography.
  • The “Get Connected” event in Toronto is hosted by Ivey’s Career Management team in partnership with its alumni and recruiting firms. For three days, students are exposed to information sessions, formal networking events, functional panels and mock interviewing events with Ivey recruiters and alumni. This is the students’ official ‘debut’ or introduction to the market, following their 12-weeks of in-class Career Management programming.
  • Global Ivey Day is an annual event for Ivey students and alumni around the world to connect, network and socialize. Events are hosted by alumni chapters all over the world, including a Gala event in Toronto, with live webinars and webcasts available for alums and students to join as well.

Master of Science in Management

The Ivey MSc is a direct-entry program requiring no previous full-time work experience. The program is designed to build on previous undergraduate experience and prepare the student for an international career.

The Ivey MSc is a pre-experience master's program, although it is a relatively uncommon degree in North America.

In December 2009, Ivey was selected as the exclusive Canadian partner in the CEMS alliance. This partnership gives Ivey MSc students the opportunity to participate in the Master of International Management program with students from other schools in the alliance like the London School of Economics, HEC Paris, National University of Singapore, Copenhagen Business School, ESADE (Spain) and Fundao Getulio Vargas (Brazil). Students register as Ivey MSc students and pursue the CEMS MIM program concurrently.

PhD

The University of Western Ontario began offering a PhD in Business Administration in 1961, Canada's first PhD in business. The program has focused on study in eight disciplines: Finance, General Management, Information Systems, Management Science, Managerial Accounting, Marketing, Operations Management and Organizational Behaviour.[16]

Executive MBA program

The Ivey Executive MBA (EMBA) was founded in 1991 with the addition of a Hong Kong-based program and a remote video-conference program in 1995. In 2007, the Executive MBA program was relocated to a new facility in downtown Toronto named the ING Leadership Centre.[1]

The program provides a part-time MBA program for working managers with at least seven years of work experience. The program consists of four in-class days (Thursday to Sunday) once per month. Classes continue for three consecutive terms, each five months long.[17]

Pre-business undergraduate courses

Ivey has offered four undergraduate pre-HBA business courses:

  • Business 1220: A first-year introduction to business course
  • Business 2257: A second-year course with a focus on Financial Accounting, Business Analysis and Managerial Accounting. This course is a prerequisite course for the HBA program.
  • Business for Science Students 2295F: Introductory course in business designed for Science, Medical and Dentistry students
  • Business for Engineers 2299: Introductory course in business designed for Engineering students[18]

Locations

Ivey operates on four global campuses:

On September 10, 2009, Ivey broke ground on a new 235,000-square-foot (21,800 m2) faculty building on the UWO campus in front of Brescia College on former soccer fields. The building is expected to cost $110 million. The federal and provincial governments committed $50 million in funding with the remainder funded by private donations. The building was to be designed by Hariri Pontarini Architects of Toronto and was expected to be completed in March 2011.[19]In September 2013 Ivey moved from their old building to new Richard Ivey Building located across campus. [20]

Ivey Business Review

Ivey Business Review (IBR) is an undergraduate business strategy publication conceived, written, and managed exclusively by students enrolled in the Honors Business Administration (HBA) program at the Ivey Business School. It is published twice per academic year, in December and April, and is managed at the school's main campus in London, Ontario, Canada.

Ivey Business Review is an original research-based publication with all content created specifically for the magazine through collaboration between the writers and members of the editorial board. Unlike most business strategy journals and publications, Ivey Business Review focuses on providing actionable recommendations for specific businesses, industries, business models, strategies, or events rather than management techniques for managers and leaders.[21]

History

Ivey Business Review was started in 2009 with its first issue published in January 2010. The founding Editorial Board hoped to provide world-class business insights by harnessing and developing the fresh, un-jaded and sometimes idealistic ideas and point of views of the school’s undergraduate business students. In addition, they aspired to test students by taking them outside the school’s traditional case study teaching method by forcing them to solve current challenges with neither a clear path forward, nor established facts. Since its inception, the magazine has published eight issues containing over 100 total articles and involving more than 150 students.[22]

With the January 2012 issue of Ivey Business Review, a new segment featuring interviews with prominent Canadian business people was introduced. Among the individuals featured in these interviews include the CEO of Canada Pension Plan Investment Board, Mark Wiseman,[23] and Chairman of the Royal Bank of Canada and Encana, David O'Brien OC.[22] All interviews are carried out by members of the Editorial Board.

Media Coverage

Ivey Business Review and its articles have been quoted and cited in several national outlets since inception. The Don't Discount Quebec article in the Fall 2012 issue was cited extensively in an article by the Financial Post, which discussed how the abnormal winter sales season in the Canadian retail space made Reitmans an attractive acquisition target.[24] More recently, the Refining's Renaissance article of the Spring 2013 issue was the subject of an article published in Halifax's Chronicle Herald. The article describes the recommendations given by the students concerning the Dartmouth Refinery, agreeing with their conclusion that the refinery is well positioned to compete against refineries in the American Gulf Coast.[25] IBR's blog articles have also received some attention from media sources. In June 2013, Felix Salmon of Reuters discusses the conclusions of the Netflix blog post in his own opinion piece on the Reuters website. He describes the conclusions explained in the original post and goes on criticize the post for being short-sided in its thinking, offering instead a different conclusion.[26]

The magazine's interviews have also received considerable media coverage and promotion. For example, the IBR Spring 2013 interview with David O’Brien - in which he made his first public announcement on his plan to retire from Encana – was mentioned in an article published in both the Calgary Herald and the Edmonton Journal.[27]

In addition to the coverage that individual articles and interviews have received in the Canadian national media, IBR, the magazine itself, has also been the focus of some notable articles. in June 2013, about 2 months after the publication of the Spring 2013 issue of the magazine, The Globe and Mail, a prominent Canadian newspaper, published an article which described the magazine and even compared it to the Harvard Business Review. The article goes on to describe the formation and founding of the magazine, the purpose of the magazine, the relationship between the magazine and Accenture, and the overall goal for the magazine going forward. The article interviews both one of the original founders of the magazine and the current publisher of the magazine, Michael Zawalsky.[21]

Notable alumni

47% of all Ivey alumni hold the title of Chair, President, C-Suite, Vice-President, Managing Director or Partner.[28] The Caldwell Partners’ "Top 40 Under 40" is an impressive measuring stick and Ivey continues to dominate this distinctive list with more honorees than any other business school.[28] Below is a partial list of distinguished Ivey alumni:

Case studies

Ivey is a leader in providing business case studies with a global perspective. With over 8,000 cases in their collection, Ivey Publishing adds more than 350 classroom-tested case studies each year. Virtually all Ivey cases have teaching notes. Ivey cases are lauded by the academic community as meeting the rigorous demands of management education by responding to the ever changing needs of business and society. More recently, Ivey has written exclusively for as well as translated over 700 cases in Mandarin Chinese. Ivey is the second largest producers and publishers of cases all around the world, just behind Harvard Business School. Ivey's cases are distributed to numerous business schools globally, and has been utilized by hundreds of thousands of business students in all continents.

Ivey Publishing also has licensing and distribution rights for more than 23,000 products from a number of suppliers, including:

  • Asian Business Case Center/Nanyang Business School at Nanyang Technological University
  • China-Europe International Business School (CEIBS)
  • China Management Case Sharing Centre
  • Harvard Business School and Harvard Business Review
  • Darden Business School
  • Northeastern University
  • National University of Singapore
  • Yonsei University

[32]

Rankings

  • Wall Street Journal MBA (September 2007): In The Wall Street Journal 's 7th annual ranking of MBA programs, which is based on the perceptions of corporate recruiters around the globe, Ivey was ranked #12 among the top 25 internationally focused business schools.[33]
  • Financial Times MBA, In the Financial Times 2013 annual ranking of MBA programs worldwide, Ivey ranked 78th of the top 100 business schools.[33]
  • BusinessWeek MBA, On November 13, BusinessWeek On-Line released the results of its biannual ranking of MBA programs in the US, Canada and Europe. Ivey was ranked #4 in the International ranking and #2 in the poll by Corporate Recruiters. Additionally Ivey received straight "A"s on its report card for General Management, Analysis and Careers, and scored an A+ in the Teaching category. This ranking is based on survey responses from both current graduating students and recruiters (45% weighting each) as well as the intellectual capital produced by the business schools (10%).[33]
  • QS Top MBA places Ivey as the 15th best MBA program in North America for 2011.[34] The QS Global 200 Business Schools Report[35] are based on employer perceptions of graduates of the programs.
  • The Aspen Institute Beyond Grey Pinstripes (October 2009): In the most recent publication of The Aspen Institute's biannual ranking of MBA programs, Ivey was ranked #53 among the top 100 business schools in the world.[36]
  • The Ivey MBA program was ranked #46 in the World MBA rankings by the Financial Times in 2011.[37]
  • Bloomberg Businessweek ranked Ivey's MBA #7 internationally in 2012.[38]

See also

Further reading

  • Murray Llewellyn Barr 'A century of medicine at Western: a centennial history of the Faculty of Medicine, University of Western Ontario' (London: University of Western Ontario, 1977)
  • John R. W. Gwynne-Timothy 'Western's first century' (London: University of Western Ontario, 1978)
  • Ruth Davis Talman 'The beginnings and development of the University of Western Ontario, 1878–1924.' (MA Thesis, University of Western Ontario, 1925)

External links

  • Richard Ivey School of Business
  • Cheng Yu Tung Management Institute
  • The University of Western Ontario
  • Spencer Leadership Centre
  • Ivey Publishing

References

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