Transparency in an opaque corporate world

Posted on November 10, 2014 by ydayan

I recently read an article in Forbes outlining 11 trends to watch for in 2015. The first and most important trend identified by the author, Avi Dan, had to do with transparency. “Transparency will become the most important tool of marketing,” read the title. The article continued: “Consumers are going to continue to exert power and influence. The idea of radical transparency is something that few brands are taking advantage of now, and most brands fight it. Next year the best brands won’t be those with the best stories, or sort of made up fictional stories, but those that will give an accurate and real time picture of what they are doing in the interest of the consumer, at any given time.”

Having worked in public relations, I have come to the conclusion that transparency is indeed an important factor for companies to consider in their public relations strategy. Over the summer I participated in a preparation session for a media spokesperson of a company going through serious financial issues. We brought in an outside consultant to grill the spokesperson on questions she might face when announcing the company’s financial results. In order to illustrate the importance of transparency, the consultant brought videos of CEOs discussing their companies’ financial results while displaying a subtle hostility to media. They refused to answer simple questions about their company and tried to downplay the extent of the financial damages incurred during their respective fiscal years. One example was BP – a company which for years has denied the extent of damage caused in the Gulf of Mexico and has tried to silence criticism.

During the session, we hammered home the point that the worst thing a media spokesperson can do is sweep criticism under the rug. Companies need to be upfront with their shareholders, the public, and any other potential stakeholders.

Indeed, this strategy should not only be used to deal with negative criticism; if utilized correctly, it can in fact be a source of positive marketing for the company. Consumers respond positively to transparency. The companies that catch on to this trend sooner will be the ones who can capitalize.

The importance of transparency in the corporate setting was confirmed by Rober Eccles in “The Value Reporting Revolution” (2001). Eccles argued that companies with fuller disclosure win more trust from investors, resulting in higher valuations. This led to companies sharing more key metrics and performance indicators with investors.

Reminiscing about Sauder

Posted on December 1, 2013 by ydayan

Everyone said that the the first semester (September – December) would be the hardest. “If you can make it through that,” they said, “the rest of the program will be a breeze.”

Well November is gone. I’ve finished my last final, and my movember mustache is shaved and gone. With only a business project and a creativity presentation remaining, I’m slowly, hesitantly, beginning to exhale.

I’d like to take this opportunity to reminisce about what the the program has been like this past few months.

What has struck me the most has been the number of hours per day I’ve put in. A typical day for me has been waking up at 6:00 am, getting to campus by 8:00, and then classes, studies and/or group meetings until around 9:30 pm. Sometimes I can sneak in an hour for some eating or coffee breaks, but all in all it has been one giant load of work.

Though the workload is heavy, I’d like to also say that it has been enjoyable work. The kind of work that makes me almost not mind going home as late as 11:30 pm. I guess when you’re setting your focus on interesting and challenging subject matter, the work-life balance becomes less of an issue.

I’ve also met some extremely talented people, and managed to form some relationships which I hope will last into the future. Not just fellow students, but friends.

All in all I’m happy I chose UBC to do my MBA. That said, I’m looking forward to seeing what the future has in store for me post-Sauder School of Business.

An exemplar for the class

Posted on December 1, 2013 by ydayan

In preparation for the Sauder MBA program I had been quietly questioning how my skills and experiences, accumulated in journalism and the military, would be applicable in a business setting. Most of my fellow students have business or engineering backgrounds, making it easy for them to demonstrate relevance.

That said, I am coming to understand that my skills – hard work, proficiency with the English language, and creativity, to name a few – mesh perfectly in the business setting. This idea was recently confirmed in a consulting class, wherein the professor posted a slide I had created as an exemplar for an “executive summary.” He went on to describe to the class some of the things I had done well: an interesting “hook” to draw the reader in; short, succinct bullet points that provide pertinent information; and clear and viable recommendations for the future.

Without thinking about it, I had included all these in my executive summary, simply because I had developed the methodology during my time writing and editing articles for the Jerusalem Post. My time in the Israeli army has also given me a work ethic unmatched in the program, and my education in psychology has allowed me to excel in subject relating to interpersonal behavior and human patterns. It is becoming abundantly clear to me that my skills are indeed relevant in the business setting, and I looking forward to applying them in a career upon completion of the Sauder MBA.

Analysis

Posted on October 30, 2013 by ydayan

I have focused much of my educational and career pursuits on analysis. I take pride in my abilities to accurately assess environments and predict future trends. I believe I developed the skill partly through my university education in Psychology, which taught me to pay attention to nuances of interpersonal behavior.

As part of my military service, I was tasked with building a coherent overview of Israel’s up-to-date regional strategic situation by collecting and organizing data from a wide variety of military and civilian sources. I also presented these analyses to high-level military officials, who used them to better understand Israel’s geopolitical situation.

In journalism, I wrote many analysis articles on political and economic issues. My meticulously honed technique has not only allowed me to produce quality output, but has also given me the ability to reach an evermore broad audience. By carefully selecting the subject, wording and tone of articles, I managed to draw readership to the Jerusalem Post website as aggregaters picked up on my work. One article I wrote about Mitt Romney ended up as the top story on the Drudge Report – a major influential outlet and ranked in the top 400 worldwide website in terms of traffic.

Perhaps my most successful article predicted the January Israeli election results, even while most other professional analyses ended up being well off the mark. Below, find the text of the article.

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ANALYSIS: Doing the political arithmetic, 01/08/2013

http://www.jpost.com/Opinion/Op-Ed-Contributors/ANALYSIS-Doing-the-political-arithmetic

With just two weeks remaining until the January 22 national elections, a plethora of surveys reveals the composition of the 19th Knesset. For the unaware or delusional, Netanyahu will remain Israel’s prime minister, and Arab parties won’t sit in the coalition. The right-wing bloc will be strong, the Left will continue its free-fall. This much is certain, barring some last-minute miracle.

Besides these truisms, recent political maneuvers have made the coming coalition increasingly predictable. Last week, Labor party head Shelly Yacimovich said she would not sit in a Netanyahu-led government. She joins Meretz’s Zehava Gal-On as the only Zionist party leaders to publicly declare such a stance. Although her statement can be chalked up to grandstanding – a way to position herself as the only true opposition to a rightist government – it seems consistent in that Yacimovich would not fit naturally into a Likud-Beytenu government.

Netanyahu would be unlikely to surrender the Finance Ministry to one whose socioeconomic ideology so differs from his own; Yacimovich, who campaigned primarily on such issues, would be unlikely to join a government without being given this portfolio.

With Labor and Meretz out of the way, and with no chance an Arab party would be invited into government, there remains but one large question for the 19th Knesset: Will Netanyahu choose a haredi/religious orientation or a secular/centrist one?

Recent aggregate polling suggests the Likud-Beytenu party list will garner 34 mandates, more than half the number required to form government. Netanyahu will be able to choose an assortment of Bayit Yehudi (14), Shas (11), United Torah Judaism (6), Yesh Atid (10) and Hatnua (10), with possibly an extra three from the Am Shalem party, depending on whether or not it can pass the threshold.

WHAT NETANYAHU four years ago called a “natural alliance” when forming his coalition, the strong Likud party coaxed haredi parties Shas and United Torah Judaism into government. On the heels of what turned out to be one of Israel’s most stable coalitions in recent history, Netanyahu could conceivably choose to take the same route after January 22.

Though his own Likud- Beytenu has fallen sharply in polling since last term, when the Likud and Yisrael Beytenu parties had a combined 42 seats, the drop is more than made up for by the remarkable rise of Naftali Bennett’s Bayit Yehudi party, which shot from just three seats last term to a predicted 14 (and rising).

Netanyahu has expressed at least some level of dissatisfaction, however, with his current coalition. There is some indication that both he and Avigdor Liberman blame Shas for high housing prices, with the Construction and Housing Ministry being closely guarded by Shas MK Ariel Attias, who has been accused of doling out public funds to his haredi constituents at the expense of the broader public. The political return of maverick Shas star Aryeh Deri has also ushered in new friction between Shas and Likud-Beytenu, with Deri attacking the prime minister on social and religious issues.

If Netanyahu chooses this coalition, it would ensure four more years of stable governance – a slightly more right-wing version of the current ruling government. The coalition would undoubtedly try to downplay the Israeli-Palestinian track, foster settlement construction – at least in the main blocs – and push for a replacement of the Tal Law that would see haredim continue to study in yeshivas in lieu of IDF service.

A COALITION composed mainly of Center-Right secular/national-religious parties could form the basis of a large unity coalition. Adding Yesh Atid’s and Hatnua’s 10 seats apiece (and possibly more), the coalition could end up with as many as 66 seats. If Am Shalem – the haredi party committed to integrating the insular ultra-Orthodox into Israeli society – passes the threshold, the coalition could near the 70-seat mark.

Far from being a leftist alternative, all parties in this coalition have espoused at least some right-wing political tendencies, indicating that an alliance is in fact within the realm of possibility. Yair Lapid, who heads the Yesh Atid party – arguably the most centrist of the parties – has emphatically denied being left wing, and has expressed support on a number of occasions for the large settlement blocs beyond the Green Line.

Many forget that Tzipi Livni, who heads the Hatnua party, is actually a Likudnikit at heart, having been elected into the Knesset as a member of the Likud in 1999, serving as a minister in Ariel Sharon’s government and remaining a key party member until her breakoff to Kadima in late 2005.

Though both these parties could easily be considered Center-Left, their influence on foreign policy would be tempered by a goliath Bayit Yehudi party and a Likud that has taken a sharp swing to the Right since its primary election in November 2012.

Though all parties agree on the need to integrate the growing ultra-Orthodox communities into Israeli society, a coalition of this composition could experience friction when it comes to the method for doing so. Yesh Atid has been campaigning heavily on sweeping draft reforms that would see significant increases in ultra- Orthodox enlistment into the IDF, whereas Bayit Yehudi seeks to avoid mass enlistment legislation and would prefer to concentrate on nudging the community into the work force.

If it passes the electoral threshold, Am Shalem – a grassroots haredi party dedicated to better integration of the growing ultra-Orthodox community – could serve as mediator of sorts on the issue.

The formation of such a coalition could be a delicate task even for as adept a politician as Netanyahu. Yesh Atid leader Lapid would almost certainly demand a number of ministerial portfolios, including education. Hatnua head Tzipi Livni could stipulate her participation on acquiring a position that would enable her to restart negotiations with the Palestinians, something Netanyahu has already said he would be unwilling to give her.

Both Bayit Yehudi head Bennett and Yisrael Beytenu head Liberman have expressed their desire to attain the influential Construction and Housing Ministry, an issue which Netanyahu will have to navigate sensitively. Nearly all parties would be interested in the Finance Ministry portfolio, which the prime minister has stated he would like to retain for his own Likud party.

If Netanyahu chooses this path, and succeeds in forming the coalition, he would find himself heading a government increasingly focused on mending the secular-religious divide, one which would by and large support settlement construction while leaving the door open to negotiations with the Palestinians.

WITH JUST weeks remaining until the January 22 elections, the 19th Knesset is looking increasingly clear. Netanyahu will ultimately be faced with one real choice following the election: will he seek a repeat of the national-religious/haredi alliance which governed stably this past four years, or will he pivot to parties on the Center- Right, ousting Shas and UTJ from his coalition?

Of course, minor variations of the coalition formula exist. Netanyahu could try to coax Shas into a coalition with Hatnua, or even invite UTJ into a coalition with Hatnua and Yesh Atid. Either Meretz or Labor could just as easily renege on their pledge to sit in opposition to a Netanyahu-led government, which would render this analysis completely void. But excluding any last-minute miracles, the rules of the Israeli political game are set.

Of course, in this land, miracles have been known to happen.

Oil & Gas in Canada & Israel

Posted on September 6, 2013 by ydayan

I became interested in the oil and gas industry when I was an undergraduate at UBC, at a time when oil majors were increasingly setting their sites on Alberta’s lucrative oil sand reservoirs. As the industry gained traction, it began making national and international headlines for its controversial impact on the environment. With a background in political science, I involved myself in the (ongoing) debate over how to develop Canada’s natural resources while being sensitive to legitimate environmental concerns, which include qualms about greenhouse gases, damage to land and wildlife, and the effect on the clean energy industry.
I moved to Israel in 2009, at a time when that country was engaging in its own national debate about the oil and gas industry. Two major events precipitated this dialogue: 1) as seems to be the status quo in the Middle East, political friction boiled over when Egypt cancelled a provision of the 1979 Camp David peace according to which it agreed to supply Israel with natural gas, and 2) a company discovered Israel’s first major natural gas field in the Mediterranean Sea, which became known as Tamar. Later, the company would go on to discover the Leviathan field – twice the size of Tamar – while a number of oil companies became interested in Israel’s oil shale, which is ubiquitous in certain areas of the country but remains (for now largely un-mineable with today’s technology.

Following a stint in the Israel Defence Forces, I worked in journalism, where articles I wrote often touched upon Israel’s geopolitical situation with regards to natural gas issues. As a result of the research I undertook in writing the articles, I learned about the history and operations of the global oil industry, with an emphasis on its effect on international relations.

After a four-year hiatus from the Canadian oil and gas industry, I have now returned for my MBA, to find that the it is as controversial as ever. It has, however, taken on slightly new dimensions; the dialogue has changed from a focus on oil production to transport. Three major pipelines have been proposed to take Alberta’s oil out of the province. 1) the Keystone XL Pipeline, which would transport oil to refineries in the Gulf Coast of Texas, is being held up by the US State Department on environmental grounds, 2) the Enbridge Northern Gateway Pipeline would take Alberta’s oil west through neighbouring BC, but has been stalled on environmental concerns and with First Nations groups decrying impositions on native land, and 3) the Energy East pipeline, which has been opposed on environmental, safety and economic grounds.

Key oil players are having difficulties convincing civilians (read voters) about efforts they have taken to minimize the environmental impact of their industry. With an interest in marketing, I’d like to take this opportunity to suggest how the oil majors should be approaching the issue.

Firstly, oil producers and proponents of a Canada-US pipeline should address environmentalist concerns by fingering the US coal industry as being responsible for exponentially more emissions than Alberta sand oil. By focusing on the environmental rewards of weaning the US off of dirty coal, the industry can reframe itself in more progressive terms. Secondly, the industry should stress the importance of oil coming from friendly Canada as opposed to the Middle East, where dictatorial regimes – funded by oil revenues – continuously violate the rights of women, homosexuals, and ethnic minorities. In this way, the industry can frame itself as “clean.”

I feel that the oil and gas industry is unlike any other industry in the world. It is so pervasive in our everyday lives; it affects each and every one of us on such a deep level, whether we recognize it or not. I am very much looking forward to being part of the industry upon completion of my Sauder MBA.

My Story

Posted on July 31, 2013 by ydayan

My journey to Sauder has been an adventure. It seems to me that everything I’ve done so far has been leading towards this, but really none of it was deliberate. In fact, I hadn’t set my mind on business school until earlier this year, when I decided to change my career path from journalism and my brother suggested I take the GMAT.

I was born and raised in Vancouver, Canada. After high school, I decided to attend the University of British Columbia, where I majored in psychology. I learned to hone a sharp analytical frame of mind, while developing a sensitivity to and understanding of interpersonal relationships.

Yoni at southern IDF base

After receiving my degree I immigrated to Israel, where I immersed myself in a different language and culture, wrestled with cumbersome bureaucracy and built up a network of contacts without the comforts of ready-made help that countless people enjoy in their native surroundings. I enlisted in the Israel Defense Forces, fulfilling a life-long aspiration and proving to myself that I can overcome even he most formidable challenges.

After being discharged from the IDF, I decided to explore the world of journalism, and began working as a breaking news editor at the Jerusalem Post, Israel’s most widely read English news outlet. My time in journalism taught me both how to write at a high level and to understand my target audience, something which will undoubtedly be useful going forward. Though I enjoyed my time at the Post, I realized that a career in journalism isn’t for me.

I had a long conversation with my brother in January, and he suggested I might do well in business. Thinking about it, I realized that everything I had done until now had been perfectly suited to the business world. With an educational background in psychology, I am well situated to succeed in an MBA program, specifically in Sauder’s Product & Service Management track. A relatively large number of the module courses seem to draw upon psychological concepts with which I am vastly familiar. I believe this will help me offer a unique perspective in classes, and will allow me to excel in areas such as consumer behaviour and brand management. The Business Innovation and Entrepreneurship module is an intriguing alternative for me. As a one-time immigrant to a foreign country, I believe I’ve displayed a number of qualities necessary for successful entrepreneurship, including independence and risk-taking. That my destination country was Israel is no less important; Tel Aviv is dubbed the Silicon Wadi because of the successful start-up track record of its residents. By virtue of having served a meaningful tenure in the Israel Defence Forces, I have developed the very spirit and skill set that has made Israel such a success story, and look forward to translating this to career achievement in Canada via Sauder’s MBA. The Business Innovation and Entrepreneurship module, with its real-life simulations of the processes required to start a company, strikes me as one of the most practical modules I’ve seen yet.

Of course, I have lots yet to learn. I am very much looking forward to the Sauder MBA, where I hope to gain a detailed understanding of the many aspects of the business world.