FBE Strategic Plan 2025-2030 : simplebooklet.com

A MESSAGE FROM OUR INAUGURAL DEANAlgoma University’s Faculty of Business & Economics is experiencing incredible growth, which brings both challenges and opportunities. The challenges we have faced in the last five years have centered on servicing huge increases in enrollment with resources that have not kept pace. The associated opportunities are exciting as we envision the impact our faculty and students can have on topics of local, regional, and global importance. The possibilities are endless. Algoma University’s Faculty of Business & Economics Strategic Plan 2025-2030 is our response to these challenges and opportunities and how we believe we can best serve our students and communities going forward. We are reflecting on the past five years and Rethinking who we are, Reimagining our future, and Redesigning our program. We have taken many recent steps to improve our programming and community connections. In alignment with the Special Mission of Algoma University – a commitment to cross-cultural learning between Anishinaabe communities and the world – we were a national pioneer in discussions regarding Indigenizing academic programs at the Administrative Sciences Association of Canada annual conference. We also joined Luminary, an initiative to design and implement an Indigenous innovation strategy and plan leading to economic transformation, employment, and well-being. We have facilitated valuable student learning opportunities through case studies and were proud hosts of the Northern Ontario Business Case Competition. Our participation in the Bank of Canada’s Governors Challenge Program took our students to the national policy-making arena, showcasing Algoma’s strong presence in shaping national monetary policy. Our faculty have demonstrated their excellence in terms of original knowledge creation and research with publications in top-tier journals and grants from the Northern Ontario Heritage Fund Corporation (NOHFC), Innovation, Science and Economic Development Canada (ISED), and the Social Sciences and Humanities Research Council of Canada (SSHRC).We have interdisciplinary, industry-connected and experienced faculty members in the Faculty of Business & Economics. The Faculty cohort supports and reflects Indigenous, Equity, Diversity, and Inclusion (IEDI), which include but are not limited to International, Francophone, Indigenous, Multicultural and Multiracial, and Gender Diverse dedicated to providing our students with an inclusive learning environment. Our faculty demonstrates expertise in the fields of Finance, Economics, International Business, Human Resource Management, Decision Sciences, Marketing, Management and Leadership, Accounting, Sustainability, and Project Management among others.A particular aspect that has come into focus in the last five years is the need to highlight academic quality and accreditation of Faculty of Business & Economics offerings. To this end, we joined the Business Schools Association of Canada (BSAC) in Rethink, Reimagine, and Redesign32025-2030 ALGOMA UNIVERSITY FACULTY OF BUSINESS AND ECONOMICS STRATEGIC PLAN

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2022 and share their dedication to achieving excellence in business education. Our plan for the next five years focuses on enhancing the quality of our course offerings through targeted actions that will secure the best learning opportunities for our students, promote academic integrity, support academic freedom for everyone, and ensure we send quality graduates into the workforce. We are dedicated to fostering a dynamic environment where students and faculty alike can thrive and contribute to global economic and innovative changes and cultural understanding. Our faculty empower and equip students with the knowledge, skills, and ethical grounding needed to drive meaningful changes in business and society. We cultivate leaders who are socially responsible, innovative problem solvers, and committed to shaping a sustainable future for generations to come. We sculpt rigorous education, impactful research, and community engagement to prepare students to be catalysts for local and global transformation. As a key part of our evolution, we aim to achieve Association to Advance Collegiate Schools of Business (AACSB) accreditation within the next 10 years to reflect that our programming is among the best business schools in the world.In the past two years, we established our three new departments and drafted a new constitution and bylaws enforced by a faculty-driven governance model that continued to be a backbone of Algoma University during the dramatic growth. Currently, we have 12 active internally funded Responsibility-Centered Management (RCM) projects (totaling $2.46 million): four funded by the Special Mission Calls to Action Fund (SMCTA) focus on Indigenizing our business curriculum; five funded by the Academic Strategic Initiative Fund (ASI) focus on research topics related to migration, climate change, immigration, young workers, and environmental sustainability and offer significant postdoctoral and student research training opportunities; and three new labs (Bridge Lab, DeScide Research Lab, and Esports Training and XR Lab) will provide high-quality program development and enormous community engagement opportunities.In alignment with Algoma University’s commitment to cross-cultural learning between Indigenous communities and the world. We honour the Seven Grandfather Teachings (Love, Respect, Bravery, Truth, Honesty, Humility, and Wisdom) and respect Indigenous knowledge, perspectives, and reciprocal relationships. We aim to be a leader in bridging Indigenous and non-Indigenous communities.At this turning point, we are prepared to have more full-time faculty members and are excited about what the next five years will bring as we share the vision of Algoma University to lead meaningful changes for generations to come.William X. Wei, PhD, ICD.DDean and Professor,Faculty of Business and Economics2025-2030 ALGOMA UNIVERSITY FACULTY OF BUSINESS AND ECONOMICS STRATEGIC PLAN4

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OUR PRIORITIES2025-2030 ALGOMA UNIVERSITY FACULTY OF BUSINESS AND ECONOMICS STRATEGIC PLANQuality-driven Education - RETHINK, REIMAGINE, AND REDESIGNThe Faculty of Business & Economics at Algoma University is striving for a high-quality combination of curriculum, assessments, and training that produces graduates capable of being socially responsible. This requires not only resources but also highly skilled professors who can prepare students for their future careers within a learning environment that produces well-rounded individuals. We aim to ensure our graduates are leaders who are prepared to meet the challenges of this complex world.6Algoma University’s Faculty of Business & Economics will focus on three priorities as we fulfill our mission and bring to life our vision over the next five years: 2025-2030. Supported by a set of goals, we will be true to our values as we implement the priorities in this plan within a culture of collaboration. In recognizing the speed at which businesses are transforming, now and in the future, we will rethink, reimagine, and redesign our program to meet the ever- changing needs of our students and the communities we live in.

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92025-2030 ALGOMA UNIVERSITY FACULTY OF BUSINESS AND ECONOMICS STRATEGIC PLANInternational and Domestic Reach - REIMAGINEThe Faculty of Business & Economics aims to optimize and diversify students across campuses to stabilize enrollment and establish partnerships with domestic and overseas academic institutions. We foster a culture that is supportive and trusting, creating strong relations that celebrate our individual and collective ability to innovate and inspire in the collective pursuit of academic and professional excellence. By working with our community, international partners and Indigenous communities, we develop impactful programs and research.Postgraduate Degree Programming and Research - REDESIGNThe Faculty of Business & Economics will expand to include Master’s programs and post-doctoral research opportunities around faculty expertise and in areas that add value to Ontario. We are committed to creating graduate programming that meets current and future needs. These programs will allow students to build skills and expertise in specialized areas of focus. We provide strong support to our faculty as they engage in innovative research and develop quality research training opportunities. We build a research culture that impacts business policy and stimulates the local economy.Rethink, Reimagine, and RedesignRRRREIMAGINE REDESIGNRETHINK For the purpose of this strategic report, the colours to the right are indicators of the noted priorities.

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Quality business students are educated to become future business leaders. The goals within this priority focus on ensuring students an exceptional teaching and learning environment and embodies quality programming that meets rigorous objectives and standards. As a key part of our evolution, we aim to achieve Association to Advance Collegiate Schools of Business (AACSB) accreditation to reflect that our programming is among the best business schools in the world. This will be a critical step towards redesigning the programs in business and economics that resonate with the next generation of students while meeting the needs of employers. Quality-driven Education - RETHINK, REIMAGINE, and REDESIGN82025-2030 ALGOMA UNIVERSITY FACULTY OF BUSINESS AND ECONOMICS STRATEGIC PLAN1PRIORITY

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RETHINK, REIMAGINE, AND REDESIGNAdvance academic outcomes through assurance of learning.1.1 Review and revise admission criteria for Faculty of Business & Economics programs for international and domestic applicants 1.2 Revamp foundation and intensive courses to prepare our students1.3 Increase focus on how all students can achieve successful outcomes and develop support accordingly1.4 Develop and implement retention goals1.5 Provide a foundation for students to make ethical decisions that consider both short and long-term consequences1.6 Increase orientation and support for incoming students to improve quality outcomes REIMAGINE AND REDESIGNSupport faculty in ensuring high-quality teaching and content delivery as program delivery continues to evolve2.1 Provide professional development opportunities for faculty regarding evolving pedagogies for content delivery for both in-person and virtual modalities2.2 Develop resources for students regarding online delivery technologies2.3 Determine the role and limits of artificial intelligence (AI) in content delivery and evaluation2.4 Incorporate technology-enabled learning opportunities to ensure flexibility for different student populations (e.g., mature students)2.5 Develop experiential learning opportunities2.6 Develop and implement a mentorship program for new faculty 2025-2030 ALGOMA UNIVERSITY FACULTY OF BUSINESS AND ECONOMICS STRATEGIC PLANGOAL1GOAL29Rethink, Reimagine, and Redesign

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RETHINK AND REDESIGNIncrease engagement with the Business Schools Association of Canada (BSAC) to inform our programming and contribute to national initiatives3.1 Increase faculty participation in BSAC professional development opportunities (conferences, research, information, networking, and other services)3.2 Increase engagement with BSAC initiatives related to monitoring public policy and international trends3.3 Increase partnerships and collaborations with other BSAC members3.4 Become a leader within the BSAC membership in terms of inclusivity and Indigenization RETHINK, REIMAGINE, AND REDESIGNTake tangible steps towards achieving AACSB accreditation within the next 10 years, focusing on high-quality achievement in four key areas: teaching, research, curricula development, and student learning4.1 Undergo internal review of programming to ensure alignment with AACSB standards4.2 Initiate contact with the AACSB to develop a plan to meet the accreditation standards4.3 Create internal teams to focus on implementing any necessary improvements in each of the four key areas4.4 Create a timeline to achieve accreditation2025-2030 ALGOMA UNIVERSITY FACULTY OF BUSINESS AND ECONOMICS STRATEGIC PLANGOAL3GOAL411Rethink, Reimagine, and Redesign

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RETHINK AND REDESIGNBalance programming enrollment across all Algoma University campuses 1.1 Develop a new business model for attracting and retaining students 1.2 Lower student-faculty ratio1.3 Be committed to academic integrity through training and development1.4 Enhance the use of existing career and experiential learning programs REIMAGINEIncrease the diversity of our students within our degree programs2.1 Build relationships with overseas academic institutions and faculties2.2 Review recruitment initiatives and standards for incoming students2.3 Establish dual-degree programs with overseas academic institutions2.4 Promote faculty engagement in international and domestic research collaborationsRETHINK AND REDESIGNImprove connections and access to the domestic and domestic international (“onshore”) student populations3.1 Work with the university to develop articulation programs with domestic and international colleges and universities3.2 Build further collaboration with secondary schools and other opportunities targeting domestic students3.3 Support the evolution of the Esports, DeScide (Decision Sciences, Data Analytics, and Empirical Analysis), BRIDGE (Building Relationships through Inner Development, Growth, & Education), XR Labs and student-led initiatives.132025-2030 ALGOMA UNIVERSITY FACULTY OF BUSINESS AND ECONOMICS STRATEGIC PLANGOAL1GOAL2Rethink, Reimagine, and RedesignGOAL3

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The Faculty of Business & Economics has reached a critical point in its sustainable development and is now in the position to add master’s-level postgraduate degree programming and cease graduate certificate programs. The new master’s-level programming will focus on key areas of faculty expertise and will attract a new cohort of upper-level students wishing to increase their knowledge and therefore value to the workforce. This refocusing of resources will require thoughtful consideration of how best to serve the needs of the regional and global community.RETHINK, REIMAGINE, AND REDESIGNPostgraduate Degree Programming and Research142025-2030 ALGOMA UNIVERSITY FACULTY OF BUSINESS AND ECONOMICS STRATEGIC PLAN3PRIORITY

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REIMAGINE AND REDESIGNDevelop Master’s-level programming in areas of strength in Faculty of Business & Economics and societal need1.1 Develop foundational programming to assist incoming students to be fully qualified for master’s-level postgraduate degree programs1.2 Ongoing development of curriculum for master’s-level postgraduate degree programs REIMAGINEDevelop and support research and scholarly activities in faculty, including providing postdoctoral opportunities in the key areas of Faculty of Business & Economics research strength and societal need2.1 Determine areas of research focus to support faculty and postdoctoral research directions2.2 Develop a strategy to assess and allocate RCM funding to support research and scholarly activities2.3 Explore collaborative program opportunities with potential internal partners2.4 Support the research and scholarly activities of the BRIDGE (Building Relationships through Inner Development, Growth, & Education) and DeScide (Decision Sciences, Data Analytics, and Empirical Analysis) Research Labs2.5 Enhance capacity, motivate and support faculty members to pursue external funding opportunities2.6 Further develop a community of practice and extend the Monthly Research Seminar Series and Distinguished Business Speaker Series152025-2030 ALGOMA UNIVERSITY FACULTY OF BUSINESS AND ECONOMICS STRATEGIC PLANGOAL1GOAL2Rethink, Reimagine, and Redesign

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17Rethink, Reimagine, and RedesignOUR STATEMENTThe Faculty of Business & Economics strongly holds academic freedom as a core tenet. Academic freedom includes:The freedom to teach, engage in classroom discussions, choose pedagogical approaches and materials, and determine how to assess students;The freedom to engage in extramural academic freedom, public commentary, or to speak as a professor in the public realm.The freedom to research and pursue knowledge in areas where new discoveries are anticipated without any outside interference;The freedom to engage in service to the institution and the wider community; and1.2.3.4.

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2025-2030 ALGOMA UNIVERSITY FACULTY OF BUSINESS AND ECONOMICS STRATEGIC PLAN18The Faculty of Business & Economics is a member of the Business Schools Associations of Canada (BSAC) and the Association to Advance Collegiate Schools of Business (AACSB). We deeply value academic integrity and engage strongly with academic standards. Connecting Northern Ontario to the world, we support Algoma University’s special mission to cultivate cross-cultural learning between Indigenous and non-Indigenous communities and aspire to be national champions in enhancing business and economics education with Indigenous knowledge.

FBE Strategic Plan 2025-2030

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