UNews - Small Business Institute

Management students pay it forward with Kazakoff Scholarship

trevor.kenney — Wed, 16 Oct 2013 19:52:49 +0000

The ��Ѹ��Դ��߿�Ƭ of Lethbridge community has a proud tradition of providing financial support for students in the pursuit of their educational goals. And, once in a while, these students take an opportunity to pay it forward to others who have demonstrated a commitment to excellence.

One such opportunity was taken by Faculty of Management alumni Kelly Kennedy (BMgt '08), Lee Spracklin (BMgt '08) and Christine Odney (BMgt '08). The three former members of the JDC West business competition team were looking for a way to make use of surplus team funds and came up with the idea to support current students, all the while honouring the contribution of an outstanding professor.

Alumnus Kelly Kennedy is one of the former students behind the establishment of a new Faculty of Management scholarship program.

The Dan Kazakoff Award in Student Leadership was established shortly thereafter to recognize exceptional leadership as demonstrated through community and campus involvement.

Kazakoff is the director of Theory Into Practice Programs in the Faculty of Management. He is also known for his involvement with the Small Business Institute and, most notably, his work with students in the Integrated Management Experience class. He is both proud and humbled by the establishment of an award in his name.

“I was very surprised, honoured and touched to hear about the award,” says Kazakoff. “To me it was the greatest honour I could ever achieve. I have gained so much from the students I’ve interacted with and am constantly astonished at the creativity and work ethic so many have. I have also come to realize that if you provide a high performance culture for students they can achieve so much. Seeing how many students grow in their personal and professional development makes me very happy and proud of what we do in the Faculty of Management.”

With characteristic humour, Kazakoff adds, “I was also very happy the award did not have ‘memorial’ in the title.”

Kennedy says the project began simply, with he and his friends trying to find a way to honour a professor and mentor who had greatly impacted their U of L experience.

“The ball got rolling when I sent a message to my friends Lee, Christine and a few others asking if they would like to work on this concept as a team. Dan gave so much of his time and energy to his students that we thought we needed to give back to him and the Faculty of Management in some way.”

Odney and Spracklin got on board quickly to help make the idea a reality.

Dan Kazakoff is well known on campus for the extra work he does with students in the JDC West program.

“Dan has been inspiring students a long time and it did not take any convincing that this would be a fantastic way to say thanks and hopefully continue to pay the inspiration forward," says Odney. "JDC West is about striving for our best and contributing to community and that’s what we wanted the extra funds to accomplish.”

“The financial burden of getting an education is a struggle for many students,” adds Spracklin. “This award will hopefully encourage students to go beyond the minimum course requirements to make a difference for themselves, their school and their community.”

Kelly, Odney and Spracklin credit a number of people on campus with helping to push the award through the administrative approval process, including Chris Horbachewski (VP Advancement), Murray Lindsay (former Dean of Management), Kathy MacFarlane (Manager, Development Programs) and Anita Ryder (Management Financial Analyst).

“Support for the award on campus was incredibly strong,” says Kennedy.

Kazakoff says it is inspiring to see his former students recognize the value of the education they received while at the U of L, and to take that knowledge and apply it to help the next generation.

“My best ‘gift’ would be that no matter what they do in their lives, they will always be part of a community and maybe through their activities with me, they realize how their efforts can make a positive difference in whatever community they choose to be a part of," he says. "I hope deserving students will be honoured to receive this award and they will aspire to be change agents in whatever they do.”

The $1,500 award is disbursed annually to a full-time bachelor of management student with a minimum 3.0 grade-point average and a demonstrated record of service.

Read about the first three Kazakoff Award Recipients here.

Anyone wishing to make a donation to the Dan Kazakoff Award for Student Leadership, or any other award, is asked to contact the office of ��Ѹ��Դ��߿�Ƭ Advancement at 403-329-2582 | advancement@uleth.ca or visit http://www.uleth.ca/giving/

Small business, big opportunity

trevor.kenney — Tue, 11 Dec 2012 22:01:06 +0000

According to the provincial government, small businesses make up about 96 per cent of all businesses in Alberta. While they may be small, they certainly are mighty. In fact, small businesses in the province contribute nearly 30 per cent of Alberta's gross domestic product (GDP) – a figure that puts them first in the country for small business GDP per capita in 2009. But it's not just small enterprises in Alberta that are economic powerlifters. Across Canada, small businesses are doing their bit by employing half of the total workforce.

The hard reality, however, is that 75 per cent of Canadian small businesses fold within nine years. Why does that happen, and what factors contribute to the long-term success of some small businesses?

These questions and others like them are being explored at the ��Ѹ��Դ��߿�Ƭ of Lethbridge's newly established Small Business Institute (SBI) in the Faculty of Management. Founded earlier this year, the SBI links small businesses to the expertise of researchers, professionals and other business people. Simply put, the SBI serves as a hub for research on small businesses and a resource for those who own, work at and are interested in them.

Dr. M. Gordon Hunter and Dan Kazakoff want to help area small businesses avoid the pitfalls that doom many great ideas.

The Institute investigates many issues related to businesses, including succession, sustainability and franchising. The SBI also works with rural areas throughout southern Alberta, where small businesses are often the lifeblood of the community.

"The SBI is an excellent example of U of L professors and researchers working to ensure that their work is relevant and valued in the community, and that leading business practices can be adopted by small businesses in the region," says David Hill, director of Centres and Institutes at the U of L.

The SBI was established by researchers Dr. M. Gordon Hunter and Dan Kazakoff. Both professors in the Faculty of Management, they worked together initially to co-author the book Little Empires: Multi-Generational Small Business in Southern Alberta, Canada. Published in 2008, Little Empires profiled 11 local, family-run operations.

"We wanted to help small businesses learn from each other," says Kazakoff, noting that the SBI was a logical evolution of the work invested in Little Empires. "With the Institute, we wanted to raise the profile of small businesses and interact with the community. It was our way of giving back."

The strategy works well, says Paul McDonald (BMgt '88), one of the entrepreneurs featured in Little Empires. McDonald, along with his brothers Jim (BMgt '80) and Gord (BMgt '89), owns the McDonald Auto Group, which has operated in southern Alberta since 1942. While the family business originally sold John Deere tractors, it now owns McDonald Chevrolet Buick GMC in Taber and McDonald Nissan in Lethbridge.

Participating in Little Empires, says McDonald, was an eye-opening experience. "It allowed me to see how other businesses operate and what allowed them to prosper." Today, he repays those insights by serving on the SBI's Advisory Board. "They want to know the challenges small businesses face and the resources we need to succeed in the future. We provide that feedback."

In addition to guiding the SBI's initiatives, Alberta businesses are also supporting them financially. This fall, ATB Financial made a $36,000 investment in the SBI that will sponsor a speaker series and bring industry leaders and researchers – including Hunter and Kazakoff – to rural communities throughout southern Alberta. The purpose of the business education seminars is to share knowledge and experiences on topics pertaining to small businesses.

That expertise is also showcased in Hunter and Kazakoff's second book, which was released earlier this year. Unlike Little Empires though, Small Business: Journey to Success was written primarily for an academic audience, reflecting the researchers' goal to eventually develop new courses within the Faculty of Management that focus on small businesses and bring new knowledge into the classroom.

In the meantime, Hunter and Kazakoff are busy with a number of research projects. The team, for example, has previously examined why small businesses fail (e.g., owners lack passion and focus) and how small enterprises survived the financial crisis (e.g., they were already operating in a fiscally conservative manner). Now the researchers are studying why small businesses typically do not partake in insolvency processes to deal with deteriorating financial situations (e.g., owners usually cannot afford the inherent expense).

Down the road, Hunter and Kazakoff will also look at small businesses' contributions to the local economy and how the agricultural industry has been affected by changes to the Canadian Wheat Board. The researchers also plan to compare the success stories of indigenous entrepreneurs in Canada with those of the Maori in New Zealand.

"Through our research," says Hunter, "we hope to expand our reach locally, regionally, nationally and internationally."

For more information on the U of L's Small Business Institute, please visit: www.uleth.ca/management/sbi

This story first appeared in the Fall 2012 issue of SAM. For a look at the full issue in a flipbook format, follow this link.

SBI partners with ATB to create speaker series

trevor.kenney — Fri, 05 Oct 2012 23:13:55 +0000

The ��Ѹ��Դ��߿�Ƭ of Lethbridge joined ATB Financial officials at the new Highlands Crossing branch in west Lethbridge on Friday, October 5, 2012 to announce ATB Financial's support of the newly-established ATB Financial Small Business Institute Speaker Series.

A $36,000 investment will help launch the series, which will see industry leaders and researchers visit communities throughout southern Alberta to share their knowledge, insights and experiences on topics related to small business.

"This gift demonstrates ATB Financial's commitment to education, research and the business communities of southern Alberta," says U of L Faculty of Management Dean Dr. Bob Ellis. "The new speaker series will help forge ties among the small business community, ATB Financial and the ��Ѹ��Դ��߿�Ƭ of Lethbridge, resulting in strong partnerships that benefit southern Alberta business."

The widespread delivery of the speaker series is what makes the program so unique. Presentations from industry leaders and researchers will be made throughout southern Alberta, with a special focus on reaching rural communities.

"One of the things we love most at ATB Financial is being able to help small businesses succeed," says Rob Smith, Vice-President, ATB Financial South. "At ATB, we like to think we know Alberta and Albertans better than any other financial institution. With that in mind, it's exciting to partner with the U of L's Faculty of Management for the ATB Financial Small Business Institute Speakers Series. Having established small business leaders share their knowledge and experience with the rest of southern Alberta can only make our local economy stronger."

Led by Small Business Institute directors, Dr. M. Gordon Hunter and Dan Kazakoff, the series will be of interest to those currently involved or considering an investment or career in small business.

"The focus of our investigations is on privately held small businesses, varying from start-up businesses to those that are multi-generational," says Hunter. "The small business is the lifeblood of many rural communities and it's this unique focus of the Small Business Institute that makes its findings so relevant to the Lethbridge and southern Alberta area."

By further connecting with the rural communities that drive the southern Alberta economy, the SBI and students at the ��Ѹ��Դ��߿�Ƭ of Lethbridge also realize a great benefit from this relationship.

"Our students will benefit from the exchange of ideas with the area's business people," says Kazakoff. "The whole notion is that with an institute, you get people together who might have a common interest in the subject area. By discussing ideas around the table with other individuals, you often find you get a greater depth of understanding. This series offers that opportunity for us to better connect with and understand the issues facing small business owners and operators in southern Alberta."

Small Business Institute set to launch

trevor.kenney — Fri, 13 Jan 2012 20:58:48 +0000

Small businesses can be big business for southern Alberta – that's the message two ��Ѹ��Դ��߿�Ƭ of Lethbridge Faculty of Management researchers are sending as they launch a new institute that will focus on the specific needs of small businesses.

On Tuesday, Jan. 17, the U of L and its Faculty of Management will officially launch the Small Business Institute (SBI), the brainchild of Dr. Gordon Hunter and Dan Kazakoff, two management faculty members with several decades of experience in small business consulting, management and education between them.

The focus of the institute's work will be on privately held small businesses, varying from start-up operations to multi-generational ownership. In addition to entrepreneurship and family-owned businesses, other aspects of their research will include franchises, non-participating family members, succession and sustainability. The SBI is unique in that it will focus primarily on Lethbridge and southern Alberta businesses.

Both Hunter and Kazakoff expect a significant student benefit through the exchange of ideas with business people and faculty. In addition, new courses may be developed or existing courses modified to incorporate ideas that come out of the SBI research process.

The launch event and a brief presentation about the SBI takes place on Tuesday, Jan. 17, beginning at 4:30 p.m. in AH100 (Andy's Place). An advisory council is currently being organized that will provide guidance to Kazakoff and Hunter with regard to the Institute's direction. Information about the advisory council will be presented at that time.

For more information, contact Steve Craig (steve.craig@uleth.ca) or call 403-329-5181. To learn more about the institute, visit http://www.uleth.ca/management/SBI

Kazakoff and Hunter also welcome those interested in the SBI to contact them via e-mail: dan.kazakoff@uleth.ca and ghunter@uleth.ca.

Evolving empires

trevor.kenney — Wed, 27 Jul 2011 20:58:12 +0000

What began as a project in the ��Ѹ��Դ��߿�Ƭ of Lethbridge's Integrated Management Experience (IME) class evolved first into a book, and now into a Small Business Institute centred at the U of L.

Dan Kazakoff, director of the ��Ѹ��Դ��߿�Ƭ's Theory Into Practice programs, and Dr. Gordon Hunter, professor of Information Systems in the Faculty of Management, are embarking on an undertaking to link small businesses to the expertise of researchers, professionals and other business people.

Recently, the pair co-authored Little Empires (2008), a book that focused on 11 multi-generation small businesses in Lethbridge, and dedicated a chapter to each. Their findings provide insight for small business owners and for those with entrepreneurial goals.

Dr. M Gordon Hunter, left and Dan Kazakoff bring expertise to entrepreneurs through the Small Business Institute

"Many of those small businesses were actually family businesses that had gone through more than one generation," says Kazakoff. "So through general discussion, Gordon and I thought it might be extremely interesting to find out why it is that some companies or businesses are successful from one generation to another."

Little Empires exposed some unexpected practices within family-run businesses, Hunter says.

"One of the things we found was, in order for these businesses to continue on over multiple generations, someone within the family had to step forward and take over—not only the business but the family entity."

He adds that those who take over often feel a responsibility to interact with their family members in a way that their parents would have wanted or expected - they endeavour to make decisions that benefit both the business and the family as a whole.

Following a presentation to fellow faculty members about the book, Hunter and Kazakoff realized their research and findings dealt mainly with success stories and the associated rationale. It spawned exploration into businesses that fail, and the cause.

"We also recognized, of course, that we needed to talk to those other than the original owners," says Hunter. "If, for example, Dan and I had a business and it failed, first of all Dan probably won't provide an interview regarding the cause of the failure. But if Dan does agree, he's going to say the business failed because of Gordon. And Gordon's going to say the reason the business failed was because of Dan."

That realization led them to interview bankruptcy professionals who assisted them with examples and underlying factors that led to business failures. Thus, the concept of a Small Business Institute took root.

"The whole notion is that with an institute, you get people together who might have a common interest in the subject area, so it's more than just complementary; it should also be synergistic," says Kazakoff. "By discussing ideas around the table with other individuals, you may find that you get more depth of understanding. Through that discussion, your research is enhanced and that's really the purpose of the Institute—to bring some synergy to people who have an interest in doing research in small business areas."

The focus of the Institute's investigations will be on privately held small businesses varying from start-up to multi-generational. In addition to entrepreneurship and family-owned operations, other aspects of their investigation will include franchises, not-for-profits, non-participating family members, succession and sustainability.

An advisory council is currently being organized that will provide guidance to Kazakoff and Hunter with regard to the Institute's direction.

"I think you'll see it almost like a viral idea — you start off with that initial spark as a catalyst and as more and more projects are completed, it will just grow," says Kazakoff.

"Students will benefit from the exchange of ideas with business people and faculty. Courses may be developed or modified to incorporate some of the ideas documented in journal articles and conference papers," adds Hunter. "What will make our SBI unique is the focus on Lethbridge and surrounding area within southern Alberta."

Kazakoff agrees: "In Lethbridge you have this richness . . . and possibilities – there was no one really leveraging that."

UNews - Small Business Institute

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