2008 HBS Centennial Seminar hosted by the HBS Club of Ottawa
Overhauling Capitalism and Strengthening the Essence of Democracy
What Every Business and Government Decision Maker and Policy Analyst Must Learn from Recent Experience to Manage Emerging Risks
June 18th, National Gallery, Ottawa.
Capacity is limited. We expect this important event to be sold out early: Register online now
Printer-friendly version (648 kB PDF) Privacy Notice-Chatham House Rule in effect
Executive Summary
Speakers and Panelists Background and Context Seminar Description Seminar Goals Seminar Agenda
Speaker and Panelist Biographies Pre-readings and Online Discussion Forum
Seminar Location Seminar Fees Seminar Registration Procedure Seminar Cancellation Procedure
Hotel Accommodation Terms and Conditions of Sale
Executive Summary:
In celebrating the 2008 Harvard-Business-School Centennial, the HBS Club of Ottawa invites Harvard University alumni and all members of the business, government and academic communities to participate in a full-day seminar held at the National Gallery of Canada, Sussex Drive, Ottawa on Thursday, June 18 from 8:45 a.m. to 6:30 p.m.
Non-HBS Alumni will also be able to experience the energy and dynamism of the HBS approach that has established and sustained the School as a world-leader in education and executive development.
Titled "Overhauling Capitalism and Strengthening the Essence of Democracy", this seminar will examine the most serious issues facing business and government decision-makers and policy analysts today and in the coming years. The focus will on (a) the root causes of the current financial crisis; (b) how other countries including Canada are affected; and (c) what we must learn to manage emerging risks.
We have brought together some of the leading thinkers and experienced practitioners from Harvard Business School, the University of Toronto and both the public and private sectors. These speakers and panellists will share their views and dialogue openly with the participants. In order to facilitate synergistic and candid discussions, the meeting will be in camera and not open to the media (under Chatham House Rule).
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Speakers and Panelists:
- Professor Bruce Scott is the Paul W. Cherington Professor of Business Administration at Harvard Business School. His particular area of interest is the impact of public policy on the business environment.
- Professor Joseph Martin is the Director of Canadian Business History, Rotman School of Business, U. of T.
- Ms. Barbara Stymiest, Chief Operating Officer, RBC, Canada's largest financial institution.
- Mr. Raymond Chrétien, former Canadian Ambassador to the US, Senior Partner & Strategic Advisor, Fasken Martineau DuMoulin.
- Mr. Gaëtan Lussier, Chairman of the Board, Canadian Agri-food Policy Institute.
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Background and Context:
In its March 23, 2008 editorial, the New York Times noted: “Sensing a collapse of the financial system unless radical measures were taken, the Fed began extending credit last week to Wall Street securities firms, not just banks, for the first time since the Depression.” The Editor raised the most serious question since the outbreak of the credit crisis, namely “whether [Fed Chairman] Bernanke and the government officials who support the Fed’s recent moves will take the next necessary step — devising new regulation for a financial system that, on its own, does not control ruinous excesses and is unable to avoid civilian casualties.” However, there is only so much that the Federal Reserve can do. Alleviating the credit crisis will require an Act of Congress, and normalizing the financial sector will require the regulation of investment banking, regulation of non-bank lenders, and a reduction of leverage throughout the system.
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Seminar Description:
To address these major issues, we have brought together some of the leading thinkers and experienced practitioners in the field to share their views and dialogue openly with the participants. Long before these issues became front-page news, Harvard Business School Professor Bruce Scott studied the intricate and deep-seated roots of the current U.S. incubated economic and financial-sector deterioration. For the last fifteen years, he has thoroughly researched and uncovered a cluster of flawed policies and decisions that have undermined business competitiveness and ethics and placed democracy at grave risk, in and beyond the United States. “For better or worse, choices made in the US have a certain impact on other countries, not least on Canada and Canadians.”
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Seminar Goals:
The goals of the HBS Centennial Seminar will be to:
- Understand how capitalism, in all countries, is a three level system of governance that depends for its legitimacy, its institutional capacities, and its ability to achieve renewal in a timely fashion upon the visible hands of government.
- Identify and understand how an inadequate regulatory system can be as big a threat to capitalism and to society as one that is over burdensome or intrusive.
- Understand how and why the US model has led to the current crisis in the credit markets.
- Understand the choices now facing Canadian and US policy makers, and why one scenario will send the US toward a version of capitalism that would tend to isolate the US credit markets from those of other countries, much like US unilateralism in the Iraq war has tended to isolate the US politically.
- Explore the options to overhaul the system and forestall future large-scale crises.
- Anticipate and mitigate the emerging risks that can seriously harm your organization's mission and stakeholders.
In this interactive session, you will have the opportunity to engage some of today’s leading experts in their field. To lead the discussion, Professor Scott will begin with a concrete case study to help everyone appreciate how capitalism works as a three level system of governance. Professors Scott and Joseph Martin will then consider how the credit crisis was born in the US capitalist model and not in Europe and, in the afternoon, how a particular variant of capitalism emerged in the US in the 19th century and why it casts such a long shadow today.
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Seminar Agenda:

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Speaker and Panelist Biographies:
- Professor Bruce Scott, Conference Co-Chair
Bruce R. Scott is the Paul W. Cherington Professor of Business Administration at Harvard Business School. His particular area of interest is the impact of public policy on the business environment and economic strategies of nations. In 1973 he was asked to reconceptualise the required first year course on the business environment that had variously been called Business Responsibilities in American Society and Manager in the American Economy into one that has subsequently been called Business, Government and the International Economy.
The 2008 HBS Centennial Seminar in Ottawa focuses on the results of Prof. Scott’s extensive 15-year research on capitalism, democracy and development, the subject of his upcoming book, to be published this year by Springer Verlag.
His outside activities have included participation in the scenario planning activities of Royal Dutch/Shell, a scenario analysis of the Venezuelan economy and similar analyses of the prospects for transition in South Africa and for Luxembourg. His books are Industrial Planning in France (with John McArthur), U.S. Competitiveness in the World Economy (with George Lodge), and South Africa: Prospects for Successful Transition (with Robert S.K. Tucker), and Europe 2012 Globalisation et Cohesion Sociale: Les Scénarios Luxembourgeois. In 1991 Professor Scott was appointed by the U.S. Senate as one of its four representatives on the U.S. Competitiveness Policy Council, an advisory board established by the Trade and Competitiveness Act of 1988.
Prof. Scott holds a B.A. in economics (Swarthmore College) and M.B.A. and D.B.A. (Harvard Business School).
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- Professor Joseph Martin, Conference Co-Chair
A Harvard Business School alumnus, Professor Joseph Martin is Director of Canadian Business History and Adjunct Professor of Business Strategy at the Rotman School of Business, University of Toronto. Concurrently, he is President Emeritus, Canada's National History Society; Board Member, AGF Group of Funds, ANGOSS Software and the University of Winnipeg Foundation; Canadian Advisory Board Member of WNED public broadcasting. Previously, Prof. Martin was Chairman of Management Consulting Committee, Deloitte, Touche and Tohmatsu International; Executive Assistant, Premier of Manitoba and Investment Analyst at Monarch Life Insurance.
Prof. Martin is currently working with the Canadian Business Hall of Fame on a time line of Canadian Business History which will be the basis for a mural in the Hall of Fame. This year, he was a Visiting Scholar at the University of Sydney, Australia where he lead a symposium on the importance of business history and a seminar on the learned lessons from capitalism in Canada and Australia in the 20th Century.
The first ever on the topic, his upcoming book titled Relentless Change: Capitalism in Canada from the Mid 19th to 21st Century will be jointly published by the University of Toronto Press and the Rotman School of Management. Since 2005, Prof. Martin has been invited by the Weatherhead Center for International Affairs of Harvard University to deliver his lecture titled A Concise History of Canadian Business or It All Began with Alexander Hamilton.
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- Ms. Barbara Stymiest, Featured Speaker
Barbara Stymiest is the Chief Operating Officer of RBC, Canada’s leading financial institution. She is responsible for directing enterprise strategy, as well as all corporate functions including risk management, human resources and treasury. As a member of RBC’s Group Executive, she is one of eight executives responsible for setting the overall strategic direction of RBC.
Prior to joining RBC, Ms. Stymiest was Chief Executive Officer of TSX Group, where she was responsible for overseeing the operations and leading the long-term strategic development of both the senior capital market – Toronto Stock Exchange and the junior capital market – TSX Venture Exchange. Prior to joining TSX, Ms. Stymiest was Executive Vice-President and Chief Financial Officer for Bank of Montreal’s investment banking division.
Ms. Stymiest is currently a director of Research in Motion Limited, Symcor Inc., Canadian Institute for Advanced Research, Royal Ontario Museum and Toronto Rehabilitation Institute Foundation. She has also served on a number of professional and charitable organizations including the CICA’s Accounting Oversight Committee, United Way Campaign Cabinet and Hincks-Dellcrest Children’s Centre.
Ms. Stymiest obtained her degree in Business Administration from the Richard Ivey School of Business and is a Fellow of the Institute of Chartered Accountants of Ontario.
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- Ambassador Raymond Chrétien, Executive Panel Moderator
Mr. Chrétien had a long and distinguished 38-year career in the Canadian Foreign Service. He was successively Ambassador to the Congo, Mexico, Belgium, the United States and France, acquiring an extensive knowledge and first-hand experience of complex issues in international negotiations and trade agreements. In 1996, he also served as Personal Envoy of the Secretary-General of the United Nations, to resolve a complex humanitarian issue dealing with refugees in the Great Lakes region of Central Africa.
Mr. Chrétien is currently a Senior Partner and Strategic Advisor to Fasken, Martineau, DuMoulin LLP. He is also Chairman of the Board of Directors of the CERIUM (Center for Research and International Studies at the University of Montréal) and Chief Federal Negotiator for the negotiations with the Crees of Northern Québec.
Mr. Chrétien is a member of the Trilateral Commission and serves on a number of boards of directors. Over the years, he has received a number of honorary doctorates and distinctions. He has been bestowed the Order of the Leopard of the Congo, the Order of the Aztec Eagle of Mexico, and made a Commandeur de la Légion d'Honneur by President Chirac of France. He is the author of Le Canada dans le monde d'hier à aujourd'hui, recently published by Les Éditions Varia.
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- Mr. Gaëtan Lussier, Government-Business Integration Panelist
Mr. Lussier’s senior executive experience spans a wide variety of companies and government agencies. He currently serves as a member of several corporate boards including Shoppers Drug Mart, Foragen , Avrio Venture (dedicated to venture capital in biotechnology), and a host of not-for-profit associations. Mr. Lussier was also President and Chief Executive Officer of Culinar Inc., and was President of Weston Bakeries Québec.
Mr. Lussier had a long and influential career as a senior public servant with the Federal and the Québec governments. He was Deputy Minister of Agriculture for the Government of Québec, Deputy Minister of the Federal Department of Agriculture and of Employment and Immigration Canada, as well as President of the Unemployment Insurance Commission.
Mr. Lussier was Chair of the External Committee on Smart Regulations for the Canadian Government. He presently chairs the Board of the Canadian Agri-food Policy Institute, which he created at the request of the Federal Government to identify issues and opportunities affecting the future of the Canadian Agri-food economy. Mr. Lussier is also a Member of the Federal Advisory Committee on Senior Level Retention and Compensation since 1997. The Committee delivered its 9th report in January 2008.
A recipient of the Order of Canada, Mr. Lussier has received numerous other honours, including an honorary doctorate in agricultural sciences from McGill University and the Ordre du Mérite Agronomique de l’Ordre des Agronomes du Québec.
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Pre-Readings and Online Discussion Forum:
HBS alumni know that Harvard case studies, discussion groups and interactive courses led by HBS faculty are part of what makes HBS educational events enjoyable and effective. In an effort to replicate that experience at the Centennial Seminar, pre-readings have been selected to provide insights into the financial crisis currently affecting financial markets and world economies. These pre-readings include groundbreaking documents written by Professor Bruce Scott.
To prepare for the event and address questions (if any) regarding the pre-readings, all participants are encouraged to use the Seminar online discussion forum moderated by HBS alumni. Shortly after registration, an email is sent with the pre-reading details, the hyperlink of the discussion forum and the moderator name.
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Seminar Location:
The National Gallery of Canada, 380 Sussex Drive, Ottawa, Ontario, Canada, K1N 9N4
The National Gallery of Canada is located within walking distance of downtown hotels. Underground parking is available on a first-come first-served basis.
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Seminar Fees:
1. Regular fees (Individual): $225 per participant, Add 5% GST for non tax-exempted participants.
2. Groups of five or more delegates: $200 per participant. Add 5% GST for non tax-exempted participants.
Fees include a luncheon plus hot and soft drinks during the morning and afternoon breaks, plus a cocktail party with cash bar immediately following the Seminar, but exclude Hotel accommodation (if required). See Terms and Conditions below for further details.
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Registration Procedure:
Register now to confirm your attendance. Capacity is strictly limited. We expect this important event to be sold out early! Register online now.
1. Fast and easy online registration with secure credit card payment can be directly performed online Register online now
OR
2. Register by fax, mail or email. Complete a hard-copy registration form (download form now) and fax it to:
613-237-4494, or email it to registration0618@hbsottawa.org , or mail it to the HBS Club of Ottawa at the following
mailing address:
The Harvard Business School Club of Ottawa,
72 Chamberlain Avenue,
Ottawa,
Ontario K1S 1V9 Canada.
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Cancellation Procedure:
Cancellations will be accepted only if made prior to May 30th, and are subject to a $100 service charge per person. Full fees are payable by anyone who fails to attend or cancels after May 29th, 2008. Substitutes are welcome, providing the Club is notified in advance by June 16th 2008. Substitutes are required to submit a completed registration form, as described here, and must indicate clearly in writing the name of the participant for whom they are substituting.
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Hotel Accomodation for Out-of-town Participants:
For overnight accommodation, several hotels are located within easy walking distance of the Seminar, including:
Fairmont Chateau Laurier, Westin, Marriott, Sheraton, Delta and Lord Elgin Hotel.
Click here for detailed information about hotels.
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Terms and Conditions:
- Full payment in advance is required, by cheque or credit card. Send cheque to the HBS Club of Ottawa at the mailing address shown here, or pay online by credit card; Register online now
- Reservations are not confirmed until payment in full has been received. Seating is limited, so participants are encouraged to register and pay as soon as possible to avoid disappointment.
- Cancellations are accepted if made prior to May 30th 2008, and are subject to a $100 service charge per person.
- Full fees are due and payable by anyone who fails to attend or cancels on or after May 30th, 2008.
- Groups of 5 or more are subject to paying the higher individual per-person fees if any cancellation(s) should cause the size of their group to subsequently become less than 5.
- Substitutes are welcome at no charge in lieu of cancellations, providing the HBS Club is notified in writing no later than 5pm Eastern Time on June 16th 2008. Substitutes are required to submit a completed registration form, as above, and must indicate clearly in writing the name of the participant for whom they are substituting.
- The specified fees only cover attendance at the June 18th Seminar, plus any associated materials that may be distributed, plus light refreshments and lunch.
- Tax receipts for the eligible portion of the Registration Fee will be provided upon request.
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IMPORTANT Privacy Notice - Chatham House Rule in effect:
To encourage open dialog and information sharing, this meeting is
being held under the Chatham House Rule (CHR) namely that the “participants are free
to use the information received, but neither the identity nor the affiliation of the
speakers, nor that of any other participant, may be revealed.”
The Chatham House Rule stipulates that:
- The meeting is closed to the media.
- Press coverage will not be allowed.
- Neither interviews nor recordings of any kind will be permitted on the premises.
- Participants will be reminded of the need for free speech and open dialogue under Chatham House Rule, both in
the promotional materials, the website and at the beginning of the morning and afternoon sessions during the actual Seminar proceedings.
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