MBA all-stars
Three of Canada's top corporate executives share what they learned in business school and what it did for their careers.
Bob Dorrance
CEO and president: TD Securities Inc.
MBA: 1977, McGill University (Desautels), Montreal
Q. Why did you choose McGill?
A. I chose McGill because it had a strong international reputation and was a well-regarded up-and-coming business school in the mid 1970s. I also was attracted to living in Montreal: a vibrant, affordable and cosmopolitan city. Still is.
Q. What did you learn while there?
A. While getting a good grounding in basic "business" fundamentals is important - finance, accounting, marketing, etc. - the real opportunity is to be able to relate to and interact with real business opportunities. For example, we had courses that provided for this interaction and it made all the difference in seeing what real-life insights an MBA can provide. I was part of a group that "consulted" to Nesbitt Thomson in the fall of 1976. We had tremendous access to senior executives in what was then a completely private industry. Most of our business cases typically concluded with something like "acquire financing." In visiting Nesbitt, we actually got to see how this really happened.
Q. What was your favourite course?
A. While I specialized in finance, I actually think I learned the most from a course called Operational Research. This is where we were required to "find" a real live operation that would allow us to consult for them on a specific strategic issue that they were dealing with. The course requirement was to produce a consulting report, deliverable to both the client and the prof for grading. It was the only course I had where there was a requirement to produce a substantial piece of work in a group. It was a very insightful experience into how things work, or not, in a team environment. I don't actually remember how we did on the course, or whether we added value as consultants - not likely - but I do remember the process we went through to produce the outcome.
Q. What did getting an MBA do for you?
A. The MBA opened up a world of opportunities from a career perspective, opportunities that were otherwise unavailable and/or unknown. In my case, I got insights and access to an opportunity to apply for a job at an investment dealer. Prior to taking my McGill MBA, I had really no concept of what an investment dealer was, let alone know anyone who worked for one. The MBA access was invaluable.
Q. What advice do you have for prospective MBA students?
A. The MBA is an effective and efficient way of broadening one's career opportunities. You can transform and enhance your existing experience and education in a very concentrated period of time. It can open many doors that may be different than what you have been exposed to. Be open to what those opportunities might bring and focus on creating true career opportunities rather than on maximizing short-term income.
Read full article: Financial Post, March 13, 2012