Lakehead University's first MBA graduates present business strategies to local firms

Two area businesses recently gained useful advice on how to grow - thanks to the course requirements of Lakehead Orillia's Master of Business Administration (MBA) program.

Completion of the program's Strategy Project course held in July and August fulfilled the final requirements of the University's MBA program for Chris Lusty of Orillia and Katrin Schmidt of Barrie - the first graduates of the Orillia campus program.

Lusty and Schmidt, both successful entrepreneurs, began their MBA studies at Lakehead Orillia three years ago. Lusty is a professional engineer who designs software for a product manufactured by Canada's largest scientific equipment distributor. Schmidt, a veterinarian by trade, is the current owner of a number of veterinary clinics in the area, including the Coldwater Road Animal Clinic.

The final Strategy Project course of the MBA program is designed to give students an opportunity to apply the theories and techniques learned in their studies to "real world" situations.

Over the six-week course, Lusty and Schmidt, along with fellow students, conducted a detailed analysis of an existing business and then presented business strategy recommendations to the owners of the firms.

Schmidt's team, including Simon Looker, a member of the Student Affairs department at Lakehead, and Sarah Davis, a graphic designer and instructor at Georgian College in Barrie, was partnered with Orillia Woodworking, one of Ontario's leading suppliers of wood trims, flooring and siding. Established in 1988, Orillia Woodworking was recently purchased by Martin Stannus, current president and general manager.

Martin Stannus of Orillia Woodworking (left) with Lakehead MBA students (l to r): Katrin Schmidt, Sarah Davis and Simon Looker.

Stannus was notably impressed by the work of the students. "The report is much better than I expected and contains a lot more reliable information than I had anticipated. It is extremely factual, which I appreciate," he said.

As the new owner of an existing small business with 14 employees, Stannus said his first goal is to ensure stability and he felt reassured when he learned that the students' recommendations were in line with his objectives.

"What was most useful to me was the opportunity to have a third-party assessment," added Stannus. "Over the six-week course, the students were able to understand the business and make practical recommendations. They also introduced me to resources, such as those for comparing industry standards, that are very worthwhile."

Lusty's team included students Ken Robertson, a local accountant, and Irina Labuac, a marketing specialist. They worked with On the Water Designs, a manufacturer of docks and marine systems located on Hwy 11 north of Washago that has a strong reputation for designing and building docks throughout Ontario.

On the Water Designs is owned by Dave MacDonald and Mary McTavish, along with Mary's son Brandon Jewitt. They too were impressed with the students' report on their business, although MacDonald admits at first he was cynical about the idea of working with the University. "I thought their work might be full of academia and theory and not have a lot of practical solutions or viable recommendations."

Chris Lusty, Lakehead Orillia MBA student (seated, right) presents a business report to the owners of On the Water Designs: Dave MacDonald (seated left); and (l to r) Lakehead Professor Herman van den Berg; Brandon Jewitt of On the Water Designs; Lakehead students Ken Robertson and Irina Labuac; and Mary McTavish of On the Water Designs.

Following the presentation by Lusty's team, McDonald said he was enlightened. "This report is far more informative than I anticipated it would be. The students pointed out some very key aspects of the business and provided insight that will help us re-define our focus," he said

"The third-party examination of our business is what we needed," noted McTavish. "For me, it has confirmed that it's time to put the house in order. It helps us to pause and consolidate before we move forward."

For the students, even though they found the course to be challenging, especially given the short six-week time frame, the experience was invaluable. "It was great to work with an actual business, with real data and real information, as opposed to case studies and text book reading," Lusty said.

"It was extremely practical and a lot more fun," added Schmidt.

"The MBA is a professional program," explained Dr. Herman van den Berg, a member of the Lakehead business faculty who teaches the Strategy Project course. "The program includes theoretical and applied learning; it's very important that we do both."

Dr. van den Berg added that Lakehead is very grateful for the involvement of the local businesses. "We appreciate that they have made their firms available to the students," he said.

"This is an example of the real impact of the university on the community," added McTavish of On the Water Designs.