Proposal to create a new Honours Minor in Business School of Administrative Studies Faculty of Liberal Arts and Professional Studies 1. Context of Proposal a. Statement of Purpose This is a proposal to create a new 30-credit minor in Business. It is intended that the program will be offered effective September 2009 by the School of Administrative Studies (SAS) through the Faculty of Liberal Arts and Professional Studies (LA&PS). The School of Administrative Studies (SAS) is a unit that offers undergraduate business degree programs and certificates through the Atkinson Faculty. It will be housed in the new Faculty of LA&PS effective July 2009. SAS undergraduate courses address a wide range of business subject matters with attention to bridging interdisciplinary research and business practices. SAS now seeks to expand its undergraduate program through the creation of a new, 30-credit minor in Business. The proposed minor is consistent with the initiatives proposed by the Strategy Process Committee at SAS and the strategies suggested in the Business Programs at York University 2006 document. The field of business (also known as commerce, management, or administrative studies) covers a variety of disciplines, including accounting, finance, marketing, management, and management science. This field emerged in the mid-20th century and has experienced tremendous growth with respect to research activity and student demand in the past two decades in North America, Europe, and Asia. Today, many Ontario universities, including the University of Guelph, Brock University and Carleton University, not only offer majors and joint-programs with other fields, but also minors in the field of business. The success of such programming signifies that knowledge about business has come to be valued in professional domains such as law, health care, economics, computer science, biotechnology science, political science, engineering, and fine arts. This proposal has its roots in this demand for business education and responds directly to the requests of other York faculties to develop joint-programs. The teaching and research activities of York faculty, and of SAS in particular, provide the expertise underpinning this proposal. SAS has attracted more than 30 faculty members with interdisciplinary academic training and diverse work experiences since 2002. Today, approximately 60 SAS faculty members pursue academic excellence in the field of business. Such rich and diverse academic activities within SAS provide the foundation to help students connect business knowledge and relevance with their respective majors. The value of understanding and appreciating how business operates in their chosen fields will enhance their success in careers in diverse fields such as health care, computer science, public policy, engineering and the arts. 1 York University has a long tradition in the pursuit of bridging research, teaching, and practice through its interdisciplinary academic communities. The York Mission Statement emphasizes the pursuit of professional knowledge and accessibility of education. The minor in business will allow York University enhance this tradition and fulfill its mission. It not only helps students prepare more specifically for their intended careers, but allows them to acquire varied business skills, which is consistent with the SAS mandate specified in the Business Programs at York document. Accessibility to the Minor is also enhanced through a choice of delivery modes including on-line courses. As outlined below, the proposed Minor in Business will require students to complete a 30-credit program through courses that are already offered by SAS. Accordingly, the minor in business will require only very modest operating budget/administrative support. b. Learning Objectives The program is designed to provide students with: Depth and Breadth of Knowledge o The courses included in the minor have been selected to provide students with a general understanding of business principles such as organizational and managerial theories, economics principles, finance and accounting theories, marketing practices, as well as individual behaviors and group dynamics within organizations. o Additional depth in the areas of accounting, finance, management, and marketing will be offered to provide students with advanced knowledge of business and management practices in the real world. Knowledge of Methodologies o Analytic skills related to financial and accounting analyses, marketing practices and strategies, and enactment of varied business situations. o Skills associated with appreciation of varied managerial practices Application of Knowledge o Experiential exercises and case study analysis in the context of finance, accounting, marketing, organization, and management policy. Communication Skills o Oral and written skills related to varied business practices such as presentations of financial and accounting data, marketing plans, interpersonal communication and group dynamics, and business plans and strategies. Awareness of Limits of Knowledge ○ All courses appreciate the effectiveness of varied business practices and limitations and boundaries of theories. Autonomy and Professional Capacity 2 o All courses aim to develop the students’ ability to evaluate specific business situations and to substantiate arguments for a particular course of action in attempts to enhance the success of students’ future careers in their professions. c. Relationship of the Proposal to Academic Plans University Academic Plan Both the University Academic Plan and the York 2020 Vision stress the importance of interdisciplinarity, York’s commitment to accessible education, and enhancing the success of York graduates in academic and career placements. The proposed minor in business serves all these purposes. Specifically, a minor in business is, by nature, interdisciplinary. Students will have access to academic resources in both their home faculty and SAS, which will broaden their knowledge in both fields. This, in turn, will prepare them better for success in future academic and career placements. More specifically, a minor in business can contribute to success during the graduate study of business. Finally, the modes of knowledge delivery developed at SAS further enhance the accessibility of education. Students can choose between traditional in-class sessions, online learning modes or hybrid offerings to complete their degree requirements. The minor in business will also serve the goal of comprehensiveness indicated in York’s 2020 Vision. This Vision emphasizes the need to increase resource efficiency by recombining existing program elements to enhance comprehensiveness. Building upon existing program elements in SAS, the minor in business will serve to further enhance the broader York academic community’s commitment to comprehensiveness and accessible education. Faculty Academic Plan In July 1, 2009, SAS will become part of the new Faculty of Liberal Arts and Professional Studies (LA&PS). The minor in business will provide a valuable addition to LA&PS programming as it enhances the “extra-ordinary choice, creative learning… and most comprehensive range of programs in social sciences, humanities and related professional programs in Canada” [presented as part of the rationale for the creation of such a Faculty]. Further, the minor in business will allow “many programs to offer double majors and major-minor options so students can be inventive with their choices”. Offering a minor in business option will allow many non-business programs to realize this vision. Business Programs at York University The proposed minor in business is consistent with the recommendations contained in the Business Programs at York document [2006]. One solution highly recommended by Vice President - Academic was the “development of Honours Minors to be taken in 3 combination with Majors in other degrees”. The minor in business directly builds upon this solution to employ current interdisciplinary faculty capacity at SAS to serve the needs of students whose majors are in other faculties. As outlined below, the minor in business will be available to students in the Faculty of Health, the Faculty of Fine Arts, the Faculty of Science and Engineering, the Faculty of Environmental Science, and the Faculty of LA&PS. As such, the proposed minor in business is also consistent with other solutions recommended in the Commentary Re: Business Programs at York University [2007], where the solutions to SAS centered on SAS promoting the development of new interdisciplinary program synergies between itself and other programs. d. Admission/Graduation Requirements To declare a minor in business, students must meet the following admission requirements: 1. Students seeking direct entry into the minor in business from high school or another institution must meet or exceed SAS general admission requirements as adjusted from time to time [grade point average, and high school grade 12 MHF4U course (Advanced Functions or its equivalent)] 2. Students seeking entry subsequent to enrolling at York University must have attained a minimum cumulative GPA of 5.0 in their major/home programs at York. In addition, students are required to have high school grade 12 MHF4U course (Advanced Functions or its equivalent). To be eligible to graduate with a minor in business designation on their transcript and diploma, students must have achieved a minimum cumulative GPA of 5.0 in the courses constituting the minor in business. Students will be responsible for tracking their progress and GPA in the minor for which an on-line calculator will be provided. The Academic Advisor for SAS will send an email at the end of each term to students reminding them to calculate their GPA to ensure that they are meeting the requirement of a minimum cumulative GPA of 5.0 in the minor in order to graduate with the minor in business designation. e. Consultation There are no similar or identical programs at York. Extensive consultation is being conducted across the University. Letters of consultation will be attached. The proposed program structure has been informed by a comprehensive review of 7 similar programs provided by University of Guelph, McMaster University, Dalhousie University, Brock University, University of Victoria, Simon Fraser University, and Carleton University. The presence of such minors lends support to the demand for business knowledge by non-business majors, yet does not represent any meaningful duplication. As the proposed minor is similar in structure to the programs offered by other universities, in itself it is not differentiated. However, the minor in business will serve to further differentiate the offerings of the core programs to which it is attached. 4 f. Need and Demand A review of enrollment figures at North American universities, such as Massachusetts Institute of Technology, University of Wisconsin, Clarion University and Montana State University, suggests that, when a minor in business is offered, 1.0% of all of nonbusiness undergraduates will choose that option and that as many as 1 in 5 students opting to take any minor will choose a minor in business. Based on the enrollment figures published in York Year Book, the five-year projection for the program is as follow: Year 1 Year 2 Year 3 Year 4 Total 2009-10 59 2010-11 69 54 2011-12 79 65 51 59 123 195 2012-13 89 74 63 25 251 2013-14 98 82 73 31 284 Honours (4-year) students are included in the above projections. The program will reach steady state in 2013. This model assumes: A more modest intake in the early years of the program than in subsequent years. Specifically, the intake percentage of all non-business students in the first year is 0.6%, and every year grows 0.1%, until it reaches 1% as steady state in 2013. An attrition rate of approximately 8% between Year 1 and Year 2. An attrition rate of approximately 3-5% between Year 2 and Year 3. Approximately 50% of students will flow into Year 4 (i.e., meet the requirements for the Honours program). 2. Program Requirements The proposal for a minor in business requires students to complete nine required 3-credit courses plus one 3-credit course within SAS at the 4000-level. Students should note that in order to complete the requirements of the minor in business in conjunction with a major, it may be necessary to successfully complete more than 120 credits. a) Courses currently offered with frequency of offering: Please note: effective Fall 2009 the courses listed below will be transferred to the Faculty of Liberal Arts & Professional Studies. Required courses AK/ADMS 1000 3.00 Introduction to Administrative Studies. This course provides an overview of the context within which modern organizations operate. The course will examine the development of organizational and managerial theories. A number of 5 contemporary issues and the organizational responses will be discussed. There were 27 sections offered in 2007-2008. AK/ECON 1000 3.00 Principles of Microeconomics. The nature of the economic problem and economic goals; general and basic concepts of demand and supply; demand and utility analysis; production and costs; pricing in competitive and monopolistic markets and government regulation; factor pricing and income distribution. There were 17 sections offered in 2007-2008. AK/ECON 1010 3.00 Principles of Macroeconomics. The nature of the economic problem; basic models of national income and employment determination; fiscal policy, banking and monetary policy. Contemporary macro-economic issues including the unemployment inflation dilemma and the relative effectiveness of monetary and fiscal stabilization policies. AK/ADMS 2200 3.00 Introductory Marketing. Covers the fundamentals of marketing theory, concepts and management as applied to marketing's strategic role in meeting customer needs, including product (goods and services), price, promotion, distribution, consumer, segmentation, positioning, ethics, research. Includes the creation of an actual marketing plan. There were 23 sections offered in 2007-2008. AK/ADMS 2320 3.00 Quantitative Methods I. An integrated approach to analyzing business problems from various functional areas. Practical business problems are analyzed using quantitative techniques including probability, statistical inference, estimation and regression as well as non-parametric approaches. There were 39 sections offered in 2007-2008. AK/ADMS 2400 3.00 Introduction to Organizational Behaviour. Introduces concepts of individual and group behaviour as they affect performance in organizations. Topics covered include motivation, communication, decision-making, leadership and structural issues. Lectures and case discussions are employed to develop theoretical models and illustrate their use. There were 29 sections offered in 2007-2008. AK/ADMS 2500 3.00 Introduction to Financial Accounting. An overview of the accounting discipline, useful to both majors and non-majors. Includes accounting history, the uses of accounting information in personal and business contexts and the rudiments of financial reporting. AK/ADMS 3530 3.00 Finance. The role of financial managers in accomplishing organizational objectives, uses of financial statements, present value theory, risk/return analysis, leverage, cost of capital, resource allocation models. There were 25 sections offered in 2007-2008. AK/ADMS 4900 3.00 Management Policy Part I. Strategy and policy identification, formulation, and evaluation are developed through lectures and case discussions. Emphasis is on integration of administrative studies subject areas with which the student 6 has previously become familiar, to provide a framework for the analysis of strategic problems of general management. There were 17 section offered in 2007-2008. Students are required to complete one additional ADMS course at the 4000-level. b). New courses (new courses are subject to approval by Faculties in accordance with Senate legislation); None. c). Required courses mounted by other units; are these to be cross-listed? None. 3. Calendar Copy The Honours minor program in Business must be combined with any approved nonbusiness Honours program within the Faculty of Liberal Arts and Professional Studies, Faculty of Environmental Studies, Faculty of Fine Arts, Faculty of Health, or Faculty of Science and Engineering that offers a major/minor option. Refer to Programs of Study. Entry requirement: (1) Students seeking direct entry into the minor in business from high school or another institution must meet or exceed SAS general admission requirements as adjusted from time to time [grade point average, and high school grade 12 MHF4U course (Advanced Functions or its equivalent)]; (2) Students seeking entry subsequent to enrolling at York University must have attained a minimum cumulative GPA of 5.0 in their major/home programs at York. In addition, students are required to have high school grade 12 MHF4U course (Advanced Functions or its equivalent). Minor: 30 credits including AP/ADMS 1000 3.00 AP/ECON 1000 3.00 AP/ECON 1010 3.00 AP/ADMS 2200 3.00 AP/ADMS 2320 3.00 AP/ADMS 2400 3.00 AP/ADMS 2500 3.00 AP/ADMS 3530 3.00 AP/ADMS 4900 3.00 Three additional credits in ADMS at the 4000 level. At least six credits in the minor must be at the 4000 level. To graduate with a minor in Business, students must satisfy Honours degree and program requirements including a minimum 5.0 grade point average in the minor. 4. Human and Physical Resource Requirements 7 As this program includes a cross-section of SAS courses, it will be supported by the entire faculty complement. A program coordinator will be appointed. a). Faculty Members: Included below is a list of faculty members whose teaching and research interests are relevant to the proposed program. Alwathainani, Abdulaziz, Assistant Professor, Accounting – Financial accounting and capital markets. Bartel, Henry, Professor, Management Science – Economic policy and analysis; quantitative methods. Bewley, Kate, Associate Professor, Audit & Management Information Systems – Financial accounting; accounting theory; and information systems. Carbonell, Pilar, Assistant Professor, Marketing – New product development; cycle time management; and new service developmenet. Chuang, You-Ta, Associate Professor, Management – Organizational theory and strategic management; GLBT issues at workplace. Dasci, Abdullah, Associate Professor, Management Science – Pricing and revenue management; location theory; and supply chain management. Deutsch Salamon, Sabrina, Associate Professor, Management – Organizational trust; citizenship and deviant behaviors; and group dynamics. Ding, Shujun, Assistant Professor, Accounting – Managerial decisin-making. Domian, Dale, Professor, Finance – Investments and financial planning. Evans, Paul, Assistant Professor, Accounting – Accounting. Fleming, Jason, Sessional Lecture, Tax – Tax. Gaber, Brian, Associate Professor, Accounting – Audit stragtegy and risk; comprehensive values for money audits; and human information processing and modeling of expert judgement. Gelinas, Patrice, Assistant Professor, Accounting – Value of job security; corporate governance; and accounting history. 8 Gzara, Fatma, Assistant Professor, Management Science - Supply chain management and logistics, telecommunications, network design, and large scale optimization. Ho, Kwok, Associate Professor, Finance – Personal finance. Hoffman, Randy, Associate Professor, Management - Strategic management simulations; decision tree operational management simulations; case development in organizational behaviour; and probabilistic economic scenarios. Huang, Rongbing, Assistant Professor, E-Commerce - Location theory; combinatorial optimization; service Management and online auction. Hwong, Thaddeus, Assistant Professor, Tax - Tax law and public policy. Iacobelli, Sandra, Sessional Lecturer, Audit & Management Information Systems – Audit & Management Information Systems. Jones, Joanne, Assistant Professor, Audit and Management Information Systems – Audit and management information systems. Len, Karakowsky, Associate Professor, Management - Demographic diversity, leadership, team-building, organizational trust and knowledge management. Karakul, Mustafa, Associate Professor, Management Science - The effects of coordinating pricing and procurement decisions on the overall profitability of the supply chains. Kerr, Jon, Sessional Lecturer, Management – Management. Kwon, Sung Soo, Associate Professor, Accounting - Characteristics of both accounting measures and the information environment to better understand the impact of accounting numbers on market participants. Lai, Liona, Assistant Professor, Accounting – Financial accounting, international accounting and capital markets. LaRegina, Elizabeth, Lecturer, Accounting – Accounting. Lasry, Eytan, Lecturer, Management – Management. LeBlanc, W.J. Richard, Assistant Professor, Corporate governance, law and ethics – Corporate governance. Lehrer, Keith, Assistant Professor, Management – Organizational behaviors. Li, Lee, Associate Professor, Marketing - International trade and marketing strategies. 9 Li, Xiaofei, Assistant Professor, Finance - Corporate finance and fixed-income securities and markets. Lim, William, Associate Professor, Finance - Dynamic General Equilibrium models of asset pricing, Trade Credit and Entrepreneurial Finance. Magee, Joanne E., Associate Professor, Tax - Statutory interpretation, personal financial planning and the measurement of income for tax purposes. Maute, Manfred, Associate Professor, Marketing – Marketing. Ng, Peggy, Professor, Management Science - patient care and community health, panel data analysis in business and organizational data; knowledge creation; spatial analysis in remote sensing data; and the use of soft approach for hard optimization models. Ogata, Ken, Assistant Professor, Consulting – Organizational theory. Ophir, Ron, Assistant Professor, Management – Organizational learning; GLBT issues at workplace. Parkinson, John, Professor, Accounting & Finance - Cost accounting methods and accounting history, as well as case teaching methods. Peng, Songlan (Stella), Assistant Professor, Accounting - International accounting standards and capital market regulation. Porporato, M. Macela, Assistant Professor, Accounting – Management control systems. Qudrat-Ullah, Hassan, Associate Professor, Management Science - dynamic decision making, system dynamics modeling, computer-simulated interactive learning environments, and energy planning models. Richardson, Julia, Associate Professor, Management – career development; flexible work practices. Ripley, M. Louise, Associate Professor, Marketing - Advertising ethics and multi-modal argumentation, the pressures on women who work outside the home, and the joys and difficulties of online teaching. Rusetski, Alexander, Assistant Professor, Marketing – Marketing. Sánchez-Rodríguez, Cristóbal, Assistant Proefessor, Audit & Management Information Systems - The integration between buyers and suppliers in industrial markets and the utilization of information technologies to enhance quality management practices in industrial settings. 10 Schraa, Ellen, Assistant Professor, Accounting – Accounting. Schwartz, Mark, Associate Professor, Corporate governance, law and ethics - orporate ethics programs, corporate social responsibility, Jewish business ethics, corporate governance and ethics, and ethical investment. Scott, Sandra, Sessional Lecturer, Accounting – Accounting. Shen, Jung-Chin, Assistant Professor, Management – Corporate strategy, mergers and acquisitions, and initial public offering. Snow, Kim, Associate Professor, Marketing – Marketing. Splettstoesser-Hogeterp, Ingrid, Assistant Professor, Audit & Management Information Systems – Information systems auditing. Spraakman, Gary, Associate Professor, Accounting – Management accounting change. Strebinger, Andres, Associate Professor, Marketing - branding, particularly on (international) brand architecture and brand portfolio management, brand equity, brand personality and e-branding. Suk, Inho, Assistant Professor, Accounting - Voluntary earnings disclosure, analysts’ forecast revisions, strategic earnings reporting around earnings thresholds, accounting information and market microstructure, corporate governance, corporate legal risk management and audit pricing. Tahani, Nabil, Assistant Professor, Finance – Credit risk and derivative. Thomson, Kelly, Assistant Professor, Management – Institutional theory, entrepreneurship. Toyasaki, Fuminori, Assistant Professor, Management Science – Management Science. Tsasis, Peter, Assistant Professor, Management – Management. Waweru, Nelson, Assistant Professor, Accounting- Accounting. Wayne, Paul, Assistant Professor, Accounting – Accounting. Yildirim, Semih, Associate Professor, Finance – encompass regulation, financial market structure, and corporate finance. 11 b). New faculty requirements and gaps they would be expected to fill. None c). Administration: Specify the need for a coordinator/chair, support staff, advisors, if any. None d). Library Holdings required. York is well equipped to support this initiative. e). Academic computing required. No special academic computing requirements are anticipated. f). Other special equipment required, if any. None g). Space requirements. None 5. Statement of Funding and Resource Availability Resources needed to establish the minor in business program are modest. A program coordinator will be appointed under Category 5 of the Collective agreement. SAS has committed secretarial support for the program. In addition, the intake of direct entry students into the BAS program is declining. As such, the funding and resources required for the minor in business can be supported by existing SAS resources. 6. Attachments [TO BE DONE] Statement of support from the relevant Dean(s)/Principal, attesting to the adequacy of resources: space, computing, staff, faculty, etc. Comment on resource implications from the Office of the Vice-President (Academic) and Provost. Statement from the University Librarian confirming the adequacy of library holdings. Statement from the University Registrar regarding the proposed implementation schedule. 12 Confirmations from "interested" programs that their comments have been solicited. Estimate of demand for the program from the Office of Admissions. 13