A Rich History - The University of Western Australia
Transcription
A Rich History - The University of Western Australia
M E M B E Business School A Rich History – A Brilliant Future Snapshots of Our Journey 2009 R CONNECT A Rich History Towards a Brilliant Future At the heart of a great business school is the passion, enthusiasm and commitment demonstrated by the connections between staff, students, alumni and the community in the pursuit of achieving international excellence. As we move into the new world-class Business School facilities, this commemorative journal takes a moment to reflect on the contributions of the many alumni, staff, community leaders and students whose determination to make a positive difference in the world has built a foundation of which we can all feel very proud. The stories that unfold in these pages will inspire you, as we capture the essence of education to transform the lives of people. These are the stories and insights that carry us forward and continue to inspire us to achieve international excellence. Celebrate with us! UWA Business School At The University of Western Australia, we are embarking upon a new chapter in business education. As we unveil a new home for our Business School, we acknowledge the vision of the original founders of The University of Western Australia and look towards a future in which this great institution is positioned well to deal with the challenges and accept the opportunities of the years ahead. We are in fact celebrating the contribution of the UWA Business School to business education in Western Australia and further afield, its relevance to the broader business community and its links across the faculties and schools of our University. As a Vice-Chancellor there are few things more satisfying than the dedication of new and improved facilities to the pursuit of learning. Yet this is more than a celebration of a new facility. With the help of our partners, the talent of the business leaders on our Business School Board and the staff of our faculty, led by Dean Tracey Horton, we will be able to be at the forefront of business education excellence. With the generous support of our partners and the broader community, we have built an outstanding facility and established a fund that will enable us to attract world leaders in business education and offer outstanding opportunities for undergraduate and postgraduate students. 4 The Business School, like the rest of The University of Western Australia, has a proud history of excellence in research, teaching and learning. It continues to provide high quality students with a high quality education. Many graduates have gone on to forge successful careers and to make a difference to the world. We seek to build on these foundations. We will continue to develop the School’s reputation worldwide. We will continue to strengthen our links to the business community, and in doing so, be at the forefront of international best practice. Truly great business schools are created through the dedication, commitment and support of their alumni and the business community in which they operate. The participation of our external partners is very much an integral element of our strategic development. With an expanded network of business supporters who are prepared to invest directly in our staff, students and research, we have been able to develop the breadth of business activities woven into our core learning programs to provide a connection with the ‘real world’. This commemorative journal takes a moment to provide snapshots of what has been achieved and celebrates the achievements of too many to mention individually. Our Business School enjoys a reputation as a leader in Australia and abroad. We are aiming to be among the top 50 universities in the world by 2050 and the School will help us to achieve that goal. At UWA, world-class is our minimum standard. In achieving our initial fundraising target of $25 million, we gratefully acknowledge the philosophy of giving that underpins these achievements and say thank you. That philosophy and desire to contribute to the greater good is itself a central theme which encases the core business of this School. With your ongoing support we will achieve what we dream today, and position the Business School of The University of Western Australia at the forefront of international excellence. Professor Alan Robson Vice-Chancellor – UWA Professor Tracey Horton Dean – UWA Business School 5 Business School HISTORY Seek Wisdom Built on a Foundation of Progressive Thought and Philanthropy The University of Western Australia (UWA) was founded in 1911 as the first university in the state. The motto “Seek Wisdom”, established in 1912, is derived from Socrates who sought to discover and teach the universal principles of truth, beauty and goodness. UWA’s commitment to these principles is demonstrated by the words inscribed on the historic central meeting place for students and teachers. “This undercroft is dedicated to Socrates who sought truth always by the path of open discussion and full enquiry. May the spirit of Socrates preside here at all times.” A university is more than its grounds and a collection of buildings. It opens the mind to the possibilities of what can be achieved through reasoned argument, constructive debate and pushing the boundaries of knowledge in search of the truth. Inaugural Chancellor of the University, Sir John Winthrop Hackett, believed that education was the key to a society’s improvement. As a law graduate and the owner and editor of The West Australian newspaper, he exercised his influence as an ‘advanced liberal’ and used his casting vote to make UWA the first free university in the British Colonies. Business education at UWA began in 1913 when Edward Shann was appointed as the Foundation Professor of History and Economics. Professor Shann is acknowledged as a pre-eminent scholar who sought, sometimes controversially, to contribute to the international economic debates of the time. The annual Shann Memorial Lecture is held in his honour. The University of Western Australia has benefited significantly from generous philanthropic contributions by community leaders. In 1918 Hackett bequeathed significant funds to UWA for the construction of Winthrop Hall, Hackett Hall and the UWA administration building. The Hackett scholarship program was established for students, and St George’s College was built through a Hackett bequest to the Church of England. 6 1966 – The new Economics and Commerce building. Now almost 100 years on, this pattern of philanthropic endeavour and vision for a brighter future is being repeated through the generous support of our donors and sponsors as we move into our new world-class Business School facilities and establish a Futures Fund to invest in students and staff. The Business School Campaign is currently one of the most successful fundraising campaigns in Australian tertiary education, having raised a remarkable $25 million. We acknowledge the ongoing support of progressive thought leaders in our community, those enlightened individuals who carry on an admirable commitment to excellence in academic pursuits that enhance and enrich society. Our generous patrons, like John Winthrop Hackett, are demonstrating inspirational philanthropic virtue. We congratulate all our donors for their vision. 7 Business School A Rich History Relevant Connections to Business The external business environment has always influenced the UWA Business School. Maintaining a balance between academic independence and constructive interaction with the business community is an ever-present task for educators. Relationships of influence do not always sit well within a university environment in which the principles of academic freedom enshrined by Socrates are fiercely protected. 1918 1921 This time-line provides a snap-shot of key events that have helped define the UWA Business School. The journey starts with the first intake of students in 1913. Since that time, innovative partnerships have been created and mutual benefit is derived from the incorporation of academic ideas that challenge current business practices and expand thinking. 1941 Professor Frank Mauldon is appointed to the first Chair of Economics within the Arts Faculty. He researches in the area of the State’s economy and community income and introduces the study of public administration. 1913 UWA sees its first intake of economics students. Edward Shann is appointed Professor of History and Economics, within the Faculty of Arts. Mid 1920s Professor Shann is invited to become an economic adviser to the Bank of New South Wales; many of his colleagues are critical of the appointment. Professor Shann defends his position, asking … “Will that not add to my ability to teach? To my usefulness as a member of university staff?” Professor Shann gains some support from members of the Senate and he accepts the position. 1927 1944–49 Large numbers of returned servicemen and servicewomen are educated through the Commonwealth Reconstruction Training Scheme (CRTS) post WWII. These returned servicemen and women have very clear ideas about the social, political and economic issues facing the external business environment. They demand an education that can be applied in a business context and actively seek a connection between university education and real world expertise. 1932 1933 Professor Shann is invited to represent the Bank of New South Wales at the World Economic Conference in London and external politics enter the debate, as the State Secretary of the Labor Party argues that to grant such leave is “unfair to the tax payers who subsidise the university.” John Curtin, who would later become Prime Minister, argues it would be impossible for the UWA economics professor to avoid being associated with the views of the bank. Professor Shann maintained his position, arguing again the educational value for students and so contributes to economic debates of the day. 8 1949 1960 1966 Peter Longton is appointed the first Chair of Marketing and becomes one of the first two Professors of Marketing in Australia. The appointment is made possible by a donation from Sir Thomas Wardle, ‘Tom the Cheap’ grocer, one of the first retail entrepreneurs in Western Australia and Lord Mayor of Perth for a number of years. 1968 Professor Reg Appleyard is appointed to the Foundation Chair of Economic History and later Head of Department. In the Edward Shann tradition he seeks to create close connections with local business groups, including the Committee for Economic Development of Australia and State government departments. The Faculty of Economics and Commerce begins to adapt the 1966 1954 Professor Frank Mauldon realises his dream of creating a Faculty of Economics separate from the Arts Faculty. He is appointed as the first Dean in the newly formed Faculty. This also marks a growing demand for business education as the economy booms. In 1958 Professor Ivor Ian Bowen is appointed as the new Dean of Economics and leads the drive to incorporate a Department of Commerce into the Faculty. degree program to be more relevant to a Western Australian economy. In 1969 Richard Court graduates with a Bachelor of Commerce and will become Premier of Western Australia from 1993-2001. 1961 Under the leadership of Professor Bowen as Dean, the Faculty of Economics is reconstituted as the Faculty of Economics and Commerce. A debate forms regarding the evolving nature of business education. Chris Savage, appointed to the Chair of Commerce in 1964, argues the Bachelor of Commerce is a program to train future business managers as opposed to economists or statisticians. Commerce enrolments accelerate far beyond that of economics. “We are what we repeatedly do. Excellence is therefore not an act but a habit.” Aristotle 1970 9 Business School 1972 Professor Bernard Key is appointed to lead Japanese Studies, established as a response to developing Western Australian trade relations with Japan. The idea puts UWA on the map globally. Gilbert George was one of the first graduates of the Japanese program. Over the course of a 20 year career in business he estimates he has been involved in over $1 billion dollars worth of Japanese investment in Australia. The University continues to maintain strong links with Japan today, including Business School partnerships with Mitsui & Co and Mitsubishi Development. Future Premier of Western Australia Geoff Gallop graduates with a Masters of Economics in 1972. He is Premier from 2001-2006. 1971 1972 1973 Professor Peter Longton is Dean when a Masters of Business Administration (MBA) is introduced in 1973 by Professor Andrew Brown, Chair of Commerce, Professor Roy Lourens and Professor Philip Brown with significant support from the Milne Bequest. Demand far outstrips supply and students are required to submit letters from their employers stating that they were able to attend at least one class during the 2-5pm time slot. Dr Michael Chaney, esteemed business leader, philanthropist and our current UWA Chancellor, is one of the first students to come through the MBA program. Current Premier of Western Australia, Colin Barnett graduates with a Bachelor of Economics (Honours). 1974 The 1970s sees a boom in Western Australian trade with the Middle East. In response, Dr Rony Gabbay establishes a degree structure with a Middle East focus. Dr Gabbay predicts expanding trade opportunity for Australia with the Middle East 10 that will see trade increase from $20 million to over $3 billion, a figure not believed by commentators. Trevor Eastwood, as a young executive at Wesfarmers co-operative, enlists the advice of Dr Rony Gabbay on Halal meat practices and accreditation to establish Wesfarmers trade links with the Middle East. Australian export to the Middle East reaches the predicted $3 billion level in 1990-91 and today continues to grow. 1977 Professor Charles Mulvey’s research into labour markets develops the Faculty’s specialisation in Industrial Relations (IR). This is particularly relevant to iron ore development and expansion in the Pilbara as Australia is the most unionised country in the world with wages fixed through an accord and a central system of 1987 administering disputes through an industrial relations commission. Industrial Relations at UWA has a multi-disciplinary approach and a growing focus on applied IR through the lens of workplace psychology, sociology and industrial dispute resolution. In 1982 The Department of Industrial Relations is created. 1987 Research into resources boom-related migration leads several members of the Faculty to establish The Trade, Migration and Development Research Centre. Its key aim is to investigate the impact of migration on Australia’s socio-economic development. Focusing on the Indian Ocean countries, research expertise covers areas such as tourism, trade, globalisation and development. 1991 The growing demand for a postgraduate Master of Business Administration sees the Graduate School of Management (GSM) separate from the Department of Economics and Commerce to form another School. Professor Andre Morkel is appointed as Head of School. An Advisory Council of business leaders is established and Trevor Eastwood is appointed as the inaugural Chair. Influential business leaders contribute their expertise and experience in an advisory capacity in order to further develop management education in Western Australia. 2006 The Business School Campaign, Tomorrow Starts Here, is officially launched with $12 million support pledged towards the $25 million target. The Business School Campaign marks a strategic level of engagement and exchange with the business community and industry sectors. Mid 2000s UWA embarks on a ‘one university’ strategic review and identifies as a strategic direction building an international presence in delivering a world class education. 1990 2004 Professor Alan Robson is appointed Vice-Chancellor to lead the University towards its goal of achieving international excellence. UWA aims to rank amongst the top 50 universities world-wide by 2050. UWA is currently ranked within the top 130 and is the only university in Western Australia ranked within the top 500. The Business School is well positioned to take up this challenge. Professor Robson supports a proposal presented by Tony Howarth (Chair, GSM Advisory Council) and Mark Barnaba (GSM, Advisory Council) to implement a Business School Fundraising Campaign. 2005 Professor Tracey Horton is appointed as Dean to lead the UWA Business School strategy towards achieving an internationally benchmarked top 50 university ranking. 2006 2009 2007 Professor Tracey Horton, Dean, leads the integration of the School of Economics and Commerce and the Graduate School of Management to form the UWA Business School, to facilitate the vision of becoming a leading institution in the Australasian region. 2009 The new UWA Business School world-class facility is officially launched May 3, 2009 by Premier Colin Barnett. The fundraising target of $25 million is achieved. [The theme of this historical outline is drawn from Emeritus Professor Reg Appleyard’s chapter on the Power and Influence in the Business and Law Faculties on the Administration and Governance of the State, and in the Private Sector and will be published in a commemorative book for the UWA centenary celebrations.] 11 Business School The UWA Business School Campaign Tomorrow Starts Here A World-Class Business School A Rich History of Connections Around 2002 a conversation developed between Dr Tony Howarth AO, Chair of the former Graduate School of Management Advisory Council, his fellow Council member, Mark Barnaba, and the then Deputy Vice Chancellor, Professor Alan Robson, regarding the role of UWA in developing best practice in business education. At this stage Professor Robson was part of executive level discussions which were setting the scene for UWA’s strategic direction to be fixed towards benchmarking international excellence with a goal of achieving within a top 50 rank of universities globally. Though from very different backgrounds, Mark Barnaba and Dr Tony Howarth were both members of the former Graduate School of Management Advisory Council for a number of years. Mark Barnaba graduated with a Bachelor of Commerce with FirstClass Honours and was a recipient of the JA Wood Memorial prize and prestigious Hackett Scholarship as one of the university’s highest achieving students. Dr Tony Howarth left school in year ten and was educated in-house through the bank training system. Originally from New South Wales, he moved to Western Australia during his banking career and built a strong connection to the University through his role as Managing Director of Westpac. Critical elements for the future of the Business School were discussed including: new infrastructure; a fundraising campaign to contribute to a new state-of-the-art building and a Futures Fund to support staff and students of the Business School; a Dean who could build stronger external links with business; a high profile Board with a keen interest and strong belief in the value of business education; and strong and visible support from the Senate and the Vice-Chancellor. Professor Robson made a commitment to supporting a new direction for the Business School including providing a fundraising team. Mark Barnaba commented on the Vice-Chancellor’s support: “Alan Robson is a true visionary. He understood the critical importance of a strong Business School with healthy and active external links to achieving his overall goals for the University. And he was prepared to back his intuition with resources.” As newly appointed Chair of the Business School Board, Mark Barnaba invited Richard Goyder, CEO, Wesfarmers; Dr John Poynton AM, Executive Chair, Azure Capital, Dr Fiona Wood AM, Director, West Australian Burns Services and Andrew Roberts, CEO, Multiplex, to join the newly formed Business School Board. Inaugural members have since been joined by Don Voelte, CEO, Woodside; Jimmy Wilson, President, BHP Billiton Stainless Steel; John Akehurst, Director CSL Limited and Adrian Fini, NonExecutive Director, Mirvac group. The Board has played a critically important role for the Business School in raising its external profile, contributing to fundraising and acting as an advisory body for strategic decisions. 12 As former Graduate School of Management Advisory Council members, both men feel a deep commitment to UWA and a profound appreciation for the value a world-class education offers the Western Australian community. For Mark his commitment comes from the personal connection he has to UWA through his learning experiences as an undergraduate. Tomorrow Starts Here, A Brilliant Future Mark Barnaba describes his motivation for the commitment in time and resources to the UWA Business School for over seven years. Dr Tony Howarth AO, Chair, Fundraising Committee says of the success of the campaign: “The Business School Campaign experience ranks as one of the single most gratifying things that I have been involved with in a professional sense. Education is about developing yourself and contributing to the community. It is valuable in its own right. I am sure my life would be different without it.” “I think the overwhelming sense is a great enjoyment and satisfaction of being part of the University and wanting to give back. A lot of people have re-engaged with the University at this time and had fond memories of UWA from prior experiences as students, parents and staff. The University Club also attracted alumni and the business community on campus – for some after a long hiatus from campus activities.” On Sunday 3 May, 2009 the new world-class UWA Business School was officially opened by the Honourable Colin Barnett MLA, Premier Western Australia. Left to right: Mark Barnaba, Professor Tracey Horton, Dr Tony Howarth. “The four Professors I had for my honours year were Geoff Soutar in Research Methodology, and three Chicago University PhDs in Finance: Ian Eggelton, Izan and Philip Brown. I knew they had world-class backgrounds and they had a fundamental impact on the quality of my education,” said Mark. Professor Tracey Horton was appointed Dean in 2005, to lead the new direction for the Business School and the Tomorrow Starts Here Business School Campaign. Hailing from Stanford with impressive international commercial experience and the academic pedigree to match, over the course of five years she developed connections with the business community on behalf of the Business School that developed into innovative partnerships delivering benefits for all parties. The Business School Campaign is an extraordinary success story in tertiary fundraising in Australia. The international reputation and profile of UWA Business School is strengthened by increased investment through the appointment of Professorial Chairs, the establishment of a scholarship program and investment in retaining and attracting quality staff. 13 Business School The Business School Board The UWA Business School is very fortunate in having the close involvement of a high-calibre Business School Board. The Board is made up of experienced leaders representative of the key industry sectors of the WA economy who visibly demonstrate their support and guidance. The role of the Business School Board is to provide leadership to the School in achieving its strategic objectives. Members also take an active role in: attracting high profile academics and business people; representing and promoting the Business School within the University, the broader business community in Australia and overseas; and in increasing opportunities for students. Initiatives for students include members providing guest lectures and Board Room luncheons for high-achieving students. The Board has also focused on developing the School’s financial foundations so that like any dynamic and progressive enterprise, it can resource its future. Dean, Professor Tracey Horton says: “The Board members are generous with their time and their wisdom and they actively work with us on many levels, from developing strategy to identifying opportunities and building engagements with companies that are mutually advantageous.” Board Members 2009 14 Business School Board from left to right: Professor Iain Watson, Deputy Dean (Operations); Adrian Fini, Non-Executive Director, Mirvac Group; Professor Izan, Deputy Dean; Richard Goyder, CEO, Wesfarmers; Mark Barnaba, Chair; Professor Tracey Horton, Dean; Dr John Poynton AM, Executive Chairman, Azure Capital; Dr Tony Howarth AO, Chair, Fundraising Committee; Jimmy Wilson, President, BHP Billiton Stainless Steel; John Akehurst, Director, CSL Limited. Absent: Don Voelte, CEO, Woodside; Dr Fiona Wood AM, Director, West Australian Burns Services. 15 Business School PARTNERSHIPS “Wisdom begins in wonder” Socrates Connection to Industry The UWA Business School Fundraising Campaign is amongst the most successful campaigns in the tertiary education sector in Australia. Key to this success are our connections and partnerships with the business community. The Business School Campaign has developed innovative partnerships which have seen an increased level of investment from the corporate sector and individuals in key strategic research areas and the provision of scholarships for talented students. These partnerships represent a long-term and mutually beneficial commitment to building the business education capacity of Western Australia. Funds raised have allowed the Business School to implement a wide range of programs that are relevant to and benefit the Western Australian business community. Thanks to the support of our donors we have 26 new scholarships, ten new prizes, two new Professorial Chairs, three new Visiting Professor and Fellow programs (these will bring internationally renowned scholars to UWA over a five year period). Strategic partnerships with globally focused companies, and dedicated individuals, support our objective to take business education at UWA to a new level, ensuring that Western Australia is recognised as an international hub for business and leadership development. Developing Our Leaders of the Future The appointment of internationally renowned Professor David Day as the Woodside Professor in Leadership and Management is a key element in the joint strategy of Woodside and UWA Business School to invest in improving the business and commercial skills of University graduates, as well as currently employed managers and executives. Professor Day was appointed in 2008 to develop a research focus and promote a scientific approach to the complex areas of leadership, development and management. 16 Woodside Professor of Leadership and Management, David Day. Don Voelte, Chief Executive Officer, Woodside: “We have always recruited the State’s best and brightest geoscientists and engineers and contributed to various university schools. As a result, our State now has a vibrant oil and gas community. As we grow internationally we require greater business and commercial skills. It makes sense to us to nurture those skills at the UWA Business School so we, and others, can benefit.” Professor Tracey Horton, Dean of the UWA Business School: “Ensuring we attract internationally-renowned Professors such as Professor Day is critically important in order to position the UWA Business School as a globally influential business school. We are certain the appointment of Professor Day will reap related benefits for us in terms of attracting other highly-qualified Faculty members to work at UWA Business School as well as high-potential PhD students, who are much needed in order to ensure we have a robust pipeline of junior Faculty members for the future.” Professor Day’s area of research expertise is in the process of accelerating leadership development. One of his research projects examines how leadership development can be made more efficient and effective. 17 Business School Connection to Industry A Parallel Journey of Transformation BHP Billiton Scholarships Awards Sundowner. Building Intellectual Capacity Sundowner with Students The BHP Billiton Alliance is a partnership with a combined contribution of $5 million over five years, from the four business units of BHP Billiton (Iron Ore, Petroleum, Nickel West, Alumina) to further develop capability in resources areas directly relevant to BHP Billiton. The partnership includes funding a Professorial Chair in the Business of Resources and the BHP Billiton Research Fellowship which recognises academic research excellence. Professor Ken Clements has been awarded the BHP Research Fellowship in recognition of his contribution to resource economics. The BHP Scholarship Program will also distribute 12 scholarships valued between $20,000 and $50,000 to honours, masters and PhD students. To celebrate the BHP Billiton Scholarship Awards, a sundowner for senior BHP executives, Business School academics and students was held in March 2009. The evening was introduced by Professor Tracey Horton who highlighted the strong position the Business School holds with the business community via teaching, research and student experience links. Chair of the Business School Board, Mark Barnaba, said: “The investment by BHP Billiton represents a commitment to the development of leaders and graduates with the skills and talent to ensure continued economic growth at state and national levels. BHP Billiton is to be commended for its commitment to education generally and business education in particular. Achieving at international standards of excellence is an expensive and competitive enterprise. The support of major corporate leaders will help ensure Western Australia is at the centre of such activity.” Jimmy Wilson, President, BHP Billiton Stainless Steel Materials, emphasised BHP Billiton’s commitment to supporting education that builds the intellectual capacity of the state, acknowledging the students of today are the workforce of tomorrow. Mr Wilson encouraged students to take advantage of the industry networks that the BHP Billiton Business School Alliance opens for future career prospects. Professor Horton said: “We are delighted to provide this opportunity for students with the generous support of BHP Billiton. We know that financial support makes a difference to the quality of a university experience as students can focus their efforts on their studies rather than working to support themselves.” Inaugural BHP Billiton Scholarship Recipients BHP Billiton Postgraduate Research Scholarship Daniel Schepis Mei-Hsui Chen BHP Billiton Honours Scholarship David Halperin Jimmy Tran 18 In a visionary gesture for which the UWA Business School will always be grateful, Wesfarmers was the first major company to make a commitment to the Business School Fundraising Campaign, donating one million dollars to support Business School strategic objectives. Having the support of Wesfarmers early in the Business School Campaign increased the Business School’s ability to attract support for business education from other parts of the Australian corporate sector. Wesfarmers and the UWA Business School have contributed to the development of Western Australia. Both Wesfarmers and The University were established in the period immediately prior to World War I, The University of Western Australia in 1911 and Wesfarmers in 1914 as the Westralian Farmers Co-operative. Wesfarmers’ early operations in rural services included wool and wheat merchandising, grain and fruit exporting, oil distribution to rural areas, as well as Western Australia’s first public radio station. In the mid 1950s as Wesfarmers began a major diversification program with the formation of Kleenheat Gas, for distribution of liquefied petroleum gas and gas appliances, Professor Frank Mauldon was successful in creating a new Faculty of Economics, separate from the University’s Arts Faculty. In the 1970s when Wesfarmers was expanding internationally with a meat export business to the Middle East, the Business School was investing in Japanese Studies and the had its first intake of MBA students. In the 1980s when Wesfarmers implemented major changes to its operations and capital structure, and executed what was then Australia’s largest takeover (of CSBP), the Business School was investing in multi-disciplinary industrial relations, immigration, trade and globalisation studies and establishing the former Graduate School of Management as a centre for postgraduate management education. Strong values and the willingness to invest in people, offering diverse opportunities to develop through different parts of the business, are hallmarks of Wesfarmers’ culture. The UWA Business School is proud to count many former and current Wesfarmers senior executives as alumni, including Trevor Eastwood, Michael Chaney, Richard Goyder, Gene Tilbrook, Keith Gordon, John Gillam, Tim Bult and Ian Hansen. Top left: Richard Goyder, CEO, Wesfarmers. Right: Exterior of Wesfarmers Lecture Theatre. UWA Business School alumna Lisa Church BCom (Hons) (1994) is a Senior Project Analyst at Wesfarmers’ Corporate Office and started her career at Wesfarmers Energy, subsequently working on projects throughout the organisation: “It is a long learning journey – you develop a career over time. You have to continue to improve. You must have a good work ethic, but are not expected to know everything when you start. It is a continuous development process.” In the spirit of Wesfarmers’ commitment to community, Lisa now volunteers her time to UWA students by giving a lecture on investment analysis for Professor Ray da Silva Rosa and Dr Paul Crompton’s class, Finance and Economics for Minerals and Energy, discussing valuation methodologies in the context of the Wesfarmers LNG business. 19 Business School Bringing Great Minds to Western Australia Alumni and Life-Long Learning Commitment to Business Education Together, Alcoa of Australia and UWA are enhancing the ability of the Business School to deliver world-class and accessible professional development, building the capacity and skills of both the WA business and community sector. The Alcoa and UWA partnership focuses on leadership education and training, in order to nurture the leaders of tomorrow. Ernst & Young continues to recruit high numbers of Business School graduates and alumni. Building a lifelong learning relationship with our alumni is vital to the sustainability of the Business School, and its relevance to industry. Ernst & Young’s corporate partnership with the Business School provides its staff with opportunities to engage with us in a number of ways. At an official signing ceremony, held at UWA’s Vice Chancellery to commemorate the WestNet Infrastructure Group-UWA Business School partnership, WestNet Infrastructure Group’s CEO, John Cleland, said the company was proud to partner with an institution of international prominence. The Alcoa Visiting Professor Program enables the UWA Business School to bring internationally renowned scholars to Perth to discuss and debate important and relevant issues for Western Australian business leaders. Each visiting Professor delivers a public program during their time at the University, including a free public lecture, a CEO business forum, an academic seminar and a range of specialist industry-focused workshops at Alcoa and other companies. At a recent forum of our academic staff and Ernst & Young partners, the challenges facing both the private and public sector from an academic and commercial viewpoint were discussed. Forum attendees identified risks, agreed upon a collaborative approach, and have drawn a plan of action to address the major issues in finding the next generation of accounting professionals. Alcoa plays an important role in supporting the communities in which it operates and beyond, and invests in partnerships and initiatives that help build stronger communities for the future. Alcoa’s Managing Director Mr Alan Cransberg, a UWA engineering graduate, said the need to attract and retain a talented and skilled workforce was a key issue for many companies, including Alcoa. “At Alcoa, our people are our success. We simply would not have a business at all without our talented and dedicated people, and so we recognise that investing in world-class professional development is essential.” Mal Briggs, UWA Alumni, Executive MBA, started as a senior project engineer for Alcoa’s refineries, then progressing to operational roles at Alcoa’s various WA mine sites, before taking on his current role as Engineering and Operations Manager for the Alcoa WA Mining Group. “I decided to complete an Executive MBA because I felt the need to challenge myself in an academic sense, as well as elevate my thinking to incorporate a strategic approach to issues rather than the day-to-day tactical approach so commonly used. In addition, I was confident the learning would help both me and Alcoa by broadening my skills and flexibility for the future.” 20 Jeff Dowling, Managing Partner, Ernst & Young said that there are a number of benefits: “The great thing about this partnership is that it benefits us on a number of levels. The branding benefits are powerful, but we are also building long-term relationships with students, future employees and academics. Importantly, around 45% of current and former graduates at EY in Perth originated from UWA, so it’s a way for us to give back to our community. The connection with UWA Business School has been incredibly well received and has already raised our profile in the Western Australian business community. We will have the opportunity to become involved through ‘spot’ lectures and providing case studies. The Business School educates the future generation of EY people and will help us attract the best talent for the future.” As part of a five-year partnership, a 150-seat lecture theatre is named the Ernst & Young Lecture Theatre and UWA alumni working at Ernst & Young provide insight to their work through presentations at tutorials and lectures for current students. “WestNet Infrastructure Group applauds the level of excellence being achieved within the Business School and looks forward to maintaining a longterm involvement in the continuing development of internationally recognised business research and post-graduate education within The University of Western Australia,” Our Partners Principal Partners Michelle Siekierka is the 2008 recipient of the WestNet Infrastructure Group Honours Scholarship. She is studying a combined commerce and law degree and completed her honours thesis in Finance on whether personality influences trading behaviour and portfolio performance. "What I liked about the WestNet Infrastructure Group Scholarship was that it was linked to more than just academic results – it seemed to be more personal and took into account how your values aligned to the values of the organisation. Extracurricular activities and demonstrated leadership ability were also important," Michelle said. Major Partners Michelle also completed a three-month vacation work position where she worked in HR, accounting and in the WestNet Rail commercial team. WestNet Rail is responsible for managing rail infrastructure in Western Australia. Supporting Partners Gold Corporate Circle Member "I developed a model to investigate the profitability of grain lines. WestNet Rail staff were willing to answer my questions and discuss how to approach the issues encountered. I was proud to participate in meetings and discuss the model – and for the model to be put into use!" The UWA Business School is committed to the ongoing development of a scholarship program which brings the brightest young minds and industry together. Silver Corporate Circle Members 21 Business School ACADEMIC PURSUIT “If you have knowledge, let others light their candles in it.” Albert Einstein Striving Towards Global Excellence The University of Western Australia's overarching ambition is to be counted among the top 50 universities in the world. Our University recognises that in the global environment in which UWA graduates and the Western Australian business and industry sectors operate, strong international connections and partnerships that support innovation and research at a global scale are the major driver of prosperity and growth. Over almost a century, The University of Western Australia has become a major international gateway for the State through 1930 – Students. “Let us think of education as the means of developing our greatest abilities, because in each of us there is a private hope and dream which, fulfilled, can be translated into benefit for everyone and greater strength for [a] nation.” John F. Kennedy the many and varied international relationships generated by researchers, students and graduates. Professor Iain Watson, Deputy Dean (Operations) Business School: The new UWA Business School state-of-the-art facilities house progress towards a brilliant future. “A point of difference for UWA is our students are amongst the brightest in the country. They are in high demand from recruiters and typically, their career trajectories are steep. The best skill we can pass on is to learn how to learn, to reason, to ask the right questions through integrating research and analytical skills into the classroom. This gives students the ability to think critically and solve problems. These skills differentiate our students.” Professor Alan Robson, Vice-Chancellor, UWA: “The opening of this new chapter in business education provides us with an opportunity to formally acknowledge the vision of the original founders of The University of Western Australia and look towards a future in which this great institution is positioned well to deal with the challenges and accept the opportunities of the years ahead.” 22 23 Business School Marketing Professor Geoffrey Soutar Head of Discipline Professor Geoff Soutar is an expert in consumer behaviour research and some of his current research investigates the influence of ‘word-of-mouth’, personal values and groups on consumption decisions. Professor Soutar is currently involved in a world-first, national research project called Building Better Brands: A study of Australian Organisations and Consumers. The study investigates how brand strategies increase the competitiveness of Australian industry. Professor Soutar has always been at the leading edge of marketing research in Australia. In 2008 he was awarded the prestigious Distinguished Researcher Award from the Australian and New Zealand Marketing Academy in recognition of his extensive contribution to the field of study. Professor Soutar is a graduate in Economics from UWA Business School, which was one of the first in Australia to appoint a Chair of Marketing in 1966. Professor Soutar recollects his early days as a marketing academic and the extraordinary growth in marketing research. “I attended the first marketing conference held by marketing academics in Australia in 1974 at the University of NSW. There were so few marketing academics that we fitted into a tutorial room. On the other hand, at the 2005 Australian New Zealand Marketing Academy Conference that the UWA Business School hosted, over 500 academics attended.” 24 Economics Professor Soutar has published more than 150 research papers in journals and as book chapters. He has also published a number of research monographs, across a wide range of management and marketing areas and has presented more than 300 papers at seminars and international conferences. He is a member of the editorial board of the Australasian Marketing Journal, the Journal of Management & Organisation and the Australasian Journal of Market & Social Research. Professor Kenneth Clements Head of Discipline Professor Clements is known for his dry humour and for making lectures contextually interesting to students by incorporating economic events as they are reported in the financial press. Ken Clements has been a Professor of Economics since 1981. He was one of the youngest people to be appointed a Professor in Australia, and the Western Mail reported, “Professors of Economics are a rare breed, but to acquire that status at age 30 years requires extraordinary talent.” Professor Soutar has won numerous awards for excellence in teaching culminating in being awarded an Australian Teaching and Learning Council Citation for Outstanding Contributions to Student Learning in 2008. Many of Professor Soutar’s students have gone on to make major contributions to marketing research. Professor Clements completed a doctorate at the University of Chicago with the Nobel Prize winners and intellectual economics icons of the time including Friedman, Miller, Stigler, Becker, Lucas, Scholes and Schultz. This research grounding in one of the best universities in the world has provided Professor Clements with the foundation to build a formidable reputation in Economics research. He is internationally renowned for his research in international finance, monetary economics and the economics of vice. In 2008 Professor Clements was awarded the inaugural BHP Billiton Research Fellow in recognition of his research contribution to the Business School in the area of resources. “Above all else, I endeavour to give prominence to clarity of thought and clarity of exposition … I have been very fortunate at UWA to work with a succession of excellent honours, masters and PhD students, whose research I have supervised. Some of these students now occupy high-level positions in academia, business and government.” Yvonne Wallis founded The Wallis Group in 1991 and it has become one of Australia’s top marketing research companies, She said of Professor Soutar: “As a student, it became very clear that Geoff had trained with leading academics in his field, that he was at the cutting edge, and that we were benefiting from that. This became particularly evident when we presented papers at national conferences. We never felt short of Ivy League.” Professor Clements is married to Professor Izan, Deputy Dean and fellow Chicago PhD. Professors Clements and Izan are renowned among the intellectual stalwarts of the Business School, having contributed over 50 years combined to teaching and research. Professor Ray da Silva Rosa, Head of Discipline Accounting and Finance and a former student of Professor Izan said: “Ken and Izan are very collaborative people. They are people who give a lot of their time to help others, much more than you could reasonably expect as a student or fellow faculty member.” One of these former students, Dr Li Lian Ong, was co-supervised by Professors Clements and Izan and is now a Deputy Division Chief at the International Monetary Fund, Washington, DC. Dr Ong worked closely with Professors Clements and Izan to develop a new very influential area of price-indexing research which continues to provide insights into questions of purchasing power parity theory. She wrote her doctoral thesis on exchangerate economics of the now-famous Big Mac prices index published annually by The Economist. She describes being supervised by Professors Clements and Izan as an intellectual collaboration of teamwork and comments that they both have “a history for being very much appreciated by their students.” Professors Clements and Izan’s commitment to scholarly excellence extends to involvement with the annual UWA and Australian National University PhD Conference in Economics and Business. The conference attracts PhD students from all major Australian universities, as well as a number of leading overseas institutions. 25 Business School Management and Organisations Professor John Cordery Head of Discipline The Management and Organisations group comprises academics from a number of cognate disciplines including psychology, sociology, economics, political science and computer science, with a common focus on the effective management of organisations within contemporary society. The work of the group spans a broad range of specific fields of study, including human resource management, organisational behaviour, leadership, employment relations, strategic and international management, information management, transportation and logistics. Professor Cordery’s research portfolio relates to the effective management of people in organisations, and reflects his early training as an organisational psychologist. After an early academic career in a psychology department, he moved into the Business School environment where the developing field of human resource management offered increased opportunities to become involved in practitioner-oriented teaching and industry-based research. “It is now readily acknowledged that well-designed people management policies and practices are critical for organisational success, and can even act as a source of competitive advantage for firms. Research into how people behave at work and in organisations has emerged as a developing area of strategic importance for UWA and its Business School. Over the past few years, we have strengthened our capability in this area, recruiting some leading Australian and international academics to teach and research in the areas of organisational behaviour and human resource management.” 26 Accounting and Finance Professor Cordery is particularly focused on the design and management of teams in work settings. He is currently working on an international project team with Alcoa investigating the effectiveness of global virtual teams and communities. The collaborating partners are from the University of Connecticut, University of North Carolina - Chapel Hill, and Texas A&M University. Professor Cordery has an extensive body of research in the applied workplace setting and this project idea was originally developed in Western Australia as a result of the strong links between UWA Business School and industry. “The Alcoa global virtual teams project was set up to investigate how operational knowledge regarding best practices could be better captured and distributed. From a work design perspective, I am interested in finding out what structures and processes work best when it comes to managing teams whose membership is spread around the globe and across many nationalities, who rarely meet face-to-face, and whose interactions occur almost entirely via electronic media and across multiple time zones. It’s really exciting to be able to work closely with Alcoa and the global virtual teams to identify ways of improving their performance.” James Grey, Alcoa Best Practice Transfer Specialist said of the working process with Professor Cordery and the Business School research team: “When we first established global virtual teams, we realised we needed to access the best knowledge in this field to critique our approach. Our involvement with John and his group has enabled us to adopt leading edge processes to support the teams and improve their effectiveness. Being able to directly relate theory and research to the practical problems of running global virtual teams continues to help us deliver a world class system.” Professor Raymond da Silva Rosa Head of Discipline Professor Raymond da Silva Rosa is a graduate of the Accounting and Finance program at UWA. He was in the same honours class as Business School Board Chair, Mark Barnaba and fondly remembers being taught Management Accounting by Professor Izan, Investment Analysis by Professor Philip Brown and Marketing by Professor Geoff Soutar. Professor da Silva Rosa recalls the influence of these professors on his academic direction. “In my time as a student the department was heavily influenced by the University of Chicago professors – Izan, Ken Clements, Ian Eggleton and Philip Brown. In Accounting and Finance this meant exposure to rigorous critical thinking, excellent research training, a strong belief in the value of markets, and between Philip and Izan … world-class expertise in Capital Markets research.” As Head of Discipline, having built a research profile in behavioural finance, corporate governance, and mergers and acquisitions, Professor da Silva Rosa is now highly sought after for opinion on matters of community interest, particularly from financial journalists. In the wake of the global financial crisis he wrote several opinion pieces. In October 2008 The Age published “When Nobody Wants to Know” investigating the structural weakness of a mortgagebacked securities market that incentivised the under-estimation of risk through a tier of commissioning mechanisms that created an eventual ‘house of cards’ collapse. The Sunday Times published “Don’t Just Blame Greed for the Crisis” in an attempt to challenge the public conception that greed was the heart of the financial sector problem. Professor da Silva Rosa highlights the role regulation can play in facilitating the smooth functioning of capital markets and the unregulated flow of capital, leading to unsustainable debt-to-capital ratios should asset valuations fall. He is astute in his ability to clearly explain complex capital market ideas. Professor da Silva Rosa joined Professor Clements to lead a public forum and panel discussion The Financial Crisis: What it Means to You and the WA Economy to a capacity audience at the Murdoch Lecture Theatre in the early months of the 2008 financial crises. Many UWA professors have established international links in order to collaborate on research. Professor da Silva Rosa and Professor Izan were instrumental in bringing Professor of Finance, David Yermack from Stern School of Business, New York to the UWA Business School as a Stan & Jean Perron Visiting Fellow. One of Professor Yermack’s primary research areas is executive compensation through the timing of issuing share options. His research revealed a high degree of tampering and an astonishing level of fraud amongst a number of Fortune 500 Companies. A number of executives have, since been jailed for fraud charges on the basis of these research findings. A UWA honours student is currently working with Professor Yermack to apply the research methodology to Australian data. 27 Business School STUDENTS AND LEARNING A World-Class Business School Benchmarking Internationally for Quality t Professor Izan, Deputy Dean, oversees the Business School’s international accreditation process. Professor Izan’s dedication to ensuring a quality education for students is demonstrated by the level of evidence based rigour she has developed to benchmark UWA Business School achievement against international standards of excellence. The first woman appointed to a professorship in Accounting and Finance in Australia (one of only a handful in the world), Professor Izan is renowned for her research achievements as a Chicago University trained PhD and an ongoing commitment to teaching. “Nothing beats working with bright honours students. I can’t resist. I get a kick out of teaching them,” says Professor Izan. Professor Izan’s commitment to high intellectual standards combined with a passion for demonstrating the quality of UWA education outcomes are the hallmarks of the UWA Business School accreditation process she has developed. Internationally benchmarked systems of accreditation involve a collection and investigation of measured outcomes of the Business School across a range of indicators for quality. These include the level of international research activity, academic qualifications of the teaching staff and teaching and learning measures. Accreditation is a mark of quality for the UWA Business School and represents a dedication to maintaining high levels of international quality research. It also demonstrates our commitment to incorporating research links into the learning experience in order to produce students with critical and analytical skills. Professor Izan, Deputy Dean. UWA Business School is currently in the process of seeking accreditation through the Association to Advance Collegiate Schools of Business (AACSB). AACSB is a system of accreditation developed in the United States and institutions that earn accreditation confirm their commitment to quality and continuous improvement through a rigorous and comprehensive peer review. AACSB International accreditation is another hallmark of excellence in management education. The Business School reaps the rewards of producing quality students in many ways. At the celebrations to open the new Business School building Professor Alan Robson said: “Outstanding achievements require determined commitment and passion by all involved. Significant in leading the achievements outlined here at the Business School are our graduates. The virtuous cycle of graduates and friends of this University investing to ensure that we can reach new heights is the key to our ongoing future success.” The UWA Business School is the only business school in Western Australia accredited through the European Quality Improvement System (EQUIS). EQUIS is a leading international system of quality assessment, improvement, and accreditation of higher education institutions in management and business administration. 28 29 Business School Student Connections Professor Phil Hancock in action at the Ernst & Young Lecture Theatre. An Exceptional Learning Experience Student experiences in the classroom are the single most important influence on student perceptions which remain after studies are completed. The Business School has a long history of exceptional teachers with far-reaching impact on their students. Professor Phil Hancock, Associate Dean of Teaching and Learning continues to enhance the learning environment within the School through his work with the faculty and students. He has implemented a number of strategies to further develop students and to provide a rich and rewarding international learning experience. Programs include The Excellence in Teaching Awards and the Peer Assisted Study Session (PASS). Our academic staff are always striving to develop new and dynamic alternate teaching styles to students and remain on the cutting edge of business global trends. Professor Jamie Murphy worked with Google to develop an international online marketing challenge. Annually, the Business School recognises teaching excellence through the Faculty Teaching Awards. The new state-of-the-art Business School facility has been designed to facilitate the very best learning outcomes. Five design principles applied to the UWA Business School which create an optimum learning environment are spirit, flexibility, mobility, connectivity and liveability. 30 Professor Ken Clements. High school students attending information session. The spirit of the building is to support free thinking and creativity with no constraints and the building is designed to be liveable and welcoming to create a sense of ownership. The student common room with 24-hour access is an example of this principle. The design of space must be flexible enough to accommodate the different ways that students approach learning. Throughout the building there are small meeting rooms, breakout areas, case study rooms and larger lecture theatres. Furniture is not fixed in the learning spaces to promote the interaction and the movement between multiple work-use zones. Professor Tracey Horton said: “We want our students and staff to be enquiring, innovative and free-thinking and the physical space of the new, purpose-built Business School will facilitate these qualities.” Professor Ray da Silva Rosa. Students in the Business School common room. Students Support Each Other Professor Phil Hancock said of these results: Transition from the nurturing environment of school-based learning to an independent learning environment within a university can be difficult for many new students. In response to this challenge, the Business School has implemented Peer Assisted Study Sessions (PASS), a student-to-student peer learning program, designed to consolidate learning, reinforce key concepts and develop effective study strategies. In the inaugural year over 400 first-year students enrolled in the first semester program. Twenty-one high achieving students are participating as peer leaders. Ongoing training support and dayto-day leadership experience provides peer leaders with a chance to improve their leadership, teamwork and communication skills and attributes valued by future employers. “I was first introduced to the PASS program at a half yearly meeting of the Australian Business Associate Deans at the University of Sydney in 2007. When we started the PASS program in 2008, I was optimistic about the prospects for helping students. However, I didn’t imagine it would have the incredible impact that it has done in the first year. In addition to the academic benefits as found in the Birch and Li study, students also commented in surveys that it provided a sense of community and belonging for them.” Elisa Rose Birch and Ian Li, from the Business School conducted a research project to investigate the impact of participation in the PASS program on the academic performance of students. Birch and Li found Business School students who participate in the PASS program achieve higher grades compared with those who do not. The benefit is more pronounced for students who start the year with lower grades. 31 Business School A Global Real-World Challenge UWA Business School Professor of E-Marketing Jamie Murphy worked with a UWA graduate at Google to develop and run the Google Online Marketing Challenge. In this real-time marketing challenge, students spend $200 per team to place online advertising with AdWords (Google’s flagship advertising product). The student teams work with the business in a client relationship to identify an online marketing strategy and implement the advertising campaign. Established in 2008, Google’s inaugural global competition had over 1600 competing student teams from 47 countries. A team of five from the UWA Business School won first prize in the Global Google Online Marketing Challenge. While Professor Murphy developed this innovative approach to teaching marketing, Google and an independent team of over a dozen academics from eight countries chose the winning team led by Dr Fang Liu, their Marketing lecturer. The team of Aaron Balm, Lauren Bobridge, Amy Smith, Victor Tsen and Arina Usikov won the competition with a campaign for The Hangout, Perth’s indoor rock climbing and abseiling centre. Dr Fang Lui said: “The experience gives our students the opportunity to gain industry experience in a real-world setting. The team that won understood the fundamental tenet of all marketing – know your consumer. They consistently monitored their website and they came up with numerous strategies, identified segments and positioning; they adjusted the ad campaign on the basis of the Google data feedback available.” The winning team of Dr Fang Lui, Aaron Balm, Amy Smith, Lauren Bobridge, Victor Tsen, and Arina Usikov. UWA Business School Students Seeing the Problem, Providing the Solutions Students in Free Enterprise (SIFE) members are UWA Business School students who make a difference in their communities today as the entrepreneurs and business leaders of tomorrow. The mission of SIFE UWA is to create local solutions to global problems. Every year, UWA Business School SIFE teams generate a portfolio of projects targeting the most pressing issues facing our community. In 2008 a UWA SIFE team reached the SIFE World Cup semi-finals in Singapore with a range of projects on challenges ranging from youth obesity to global warming. 2009 SIFE team member, Scott Molloy is leading an essay competition for high school students on the topic of the global financial crisis. Scott is a Commerce and Law student and a WestNet Infrastructure Group Scholarship recipient. In 2008 Scott completed his honours thesis investigating the evolving financial crisis, which has given him a solid grounding in finance and a passion for taking an analytical and strategic view. The SIFE global financial crisis essay project is a chance for him to extend his leadership qualities and contribute to young people’s understanding of the value of business education. Students can interpret the topic to match their own interest. For example, a history student could compare the crisis to the Great Depression, or a political and legal studies student could write on the role of government in regulating business. Business School student common room. ECOMS Celebrates 60th Anniversary Brad Kerin, President ECOMS is a student society which was established 60 years ago. Originally the ‘Economics Students Club’, it was an education-based society, focusing upon the discussion and study of economic theory in practice. The ECOMS of today has developed into a community that is almost unrecognisable in comparison. The exuberant seventies and eighties provided ECOMS with long traditions of good times at excellent social events. Constant evolution has seen ECOMS broaden its events to encompass the ideals and goals of the Business School and the different interests of combined degree students including educational networking seminars and professional events linking students at UWA with Western Australia’s business community. In 2009, ECOMS is celebrating its 60th Anniversary and the end of the year will see a Gala Celebration. Of course, birthday celebrations are not complete without presents, and we have been given a great gift – not only a new Business School building on the beautiful Swan River, but a fantastic and spacious Student Common Room and ECOMS Office. 32 33 Business School ALUMNI A Rich History of Connections Distinguished Alumnus Dr Michael Chaney AO, BSc 1972, MBA 1980, HonDocLaws 2002 Chancellor, The University of Western Australia In 2004 Dr Chaney was awarded the Officer of the Order of Australia for services to business and community. He built a commercial career at Wesfarmers starting in 1983 as Company Secretary and Administration Manager. He became Finance Director in 1984 and Managing Director in 1992 and retired from Wesfarmers in 2005. Dr Chaney is Chairman of the National Australia Bank, Woodside Petroleum Ltd and Gresham Partners Holdings. Dr Chaney was inaugurated as the 14th Chancellor of The University of Western Australia in 2006. He is one of the most respected business leaders in the country for his business acumen combined with a commitment to community values. In 1972 Dr Chaney completed a science degree in geology at The University of Western Australia and began his career as an oil geologist working in the United States. In a recent interview he reflected on his transition into commercial life. The journey began when he took a short executive course at Merrill Lynch while living in the United States. “I took the class out of interest. I didn’t know much about the stock market, and I now realise that was a sign that I had some interest in commercial life. Looking back I also realise that the geology class that interested me the most was studying the commercial evaluation of mines. I started the MBA, also at UWA, because I wanted to expand my career opportunities. I took to the study like a duck to water.” Dr Chaney keenly remembers Administrative Policy with Professor Andre Morkel: “The class was about business strategy. We did a case study and we presented our conclusions and Andre proceeded to demonstrate how we had missed the most important issue. He demonstrated an ability to think laterally.” 34 Dr Chaney was impressed by Morkel’s insightful observation of human behaviour combined with a capacity to take ‘a helicopter view’ in discussions of strategy. There were other key influences during this time. “I also had real admiration for others; Geoff Soutar for marketing; and Robert Elstone, now Chief Executive of the Australian Stock Exchange in Sydney for Investment Analysis and Portfolio Theory, one of the most difficult classes intellectually and also the most rewarding, as is often the case. I found the Finance units fascinating in my MBA, with no prior knowledge. Ian Scarman was an excellent teacher in Business Finance. My experience studying finance at UWA motivated me to pursue a career first in investment banking and eventually as Chief Financial Officer at Wesfarmers.” In reflecting on his time as a student at UWA, Dr Chaney says; “I realised the more you put into your studies, the more you get out of them. While it seems obvious, this insight did not occur to me early in my university studies. I was pretty slack when I took my science degree. In contrast, I invested a huge effort into my MBA studies and I believe I reaped tremendous benefits. I would advise all students to participate in all aspects of their university experience because it’s very enriching.” Dr Michael Chaney is a Leadership Donor to The Business School Futures Fund. 35 Business School Alumni through the decades Graduate Management Association Pat Breuer has been a member of the GMA Council for three years and became President in 2008. Pat holds a passionate belief in the value of participating in activities. A GMA highlight for Pat was Sir Rod Eddington’s keynote speech at the 2007 GMA Dinner: “Much of my learning in the MBA program was from my fellow students who had many years of management experience between them. When I graduated with my MBA degree, the GMA provided an opportunity to maintain this bond and to expand my network to other postgraduate alumni.” “I listened to Sir Rod Eddington talk about his experiences as CEO of British Airways, an organisation that was in trouble. I was impressed that the first task he set himself was to take the time to personally engage people throughout the ranks. He was genuine in his message about being interested in people and saw the benefit of empowering staff. It was a simple but powerful message that really resonated with me at the time because I personally had witnessed a lot of the leadership in large companies become disengaged with their staff, and have 36 50s Bill Hoff participated in the general management course available post-WWII as a cadetship recipient with the Commonwealth Public Service. Bill spent three years studying economics with Professor Mauldon. He also studied economic history with Emeritus Professor Reg Appleyard. He worked in the area of economic analysis and research of the oil sector and in particular the import parity pricing of oil for the Tarrif Board in Canberra. During the 1980s he worked for the Joint Intelligence Organisation in Defence conducting economic analysis of the Middle East crisis and developing policy. He retired in 1989 and is currently mentoring a UWA student in mathematical economics, international trade and linguistics. Dr Mike Fitzpatrick is awarded a honorary doctorate by Dr Michael Chaney, Chancellor and Patron of the GMA. also observed people working in big organisations who don’t know who they work for or what they are trying to achieve, which detrimentally impacts culture. To have the opportunity to hear Sir Rod’s views in a personal setting was amazing.” Pat advises students to get involved in the many activities for postgraduate students while studying: “The Sir Rod Eddington’s and the Michael Chaney’s of the now and in the future, will be those people who are studying with you now. Ensure you maintain those links, continue your learning and access the networks available to you.” Sir Rod Eddington said: “I have very fond memories of my time at UWA. The education I received has served me well and it gives me a great deal of satisfaction to continue on this path of life-long learning with my fellow alumni.” Sir Rod Eddington is a Leadership Donor to the Business School Futures Fund. 60s At the inaugural event, Dr Mike Fitzpatrick, Australian Football League Chairman, non-executive director of Rio Tinto and a former Rhodes Scholar, shared his insights and perspectives on leadership throughout a career which spans over 28 years in the financial sector, to an enthusiastic audience. Dr Fitzpatrick’s contribution to business and the community was recently acknowledged with the award of a honorary UWA Doctorate of Laws. Image Courtesy of GFP Graduations The Graduate Management Association (GMA) is the Business School postgraduate alumni body that provides a wide range of social, networking and career services for postgraduate students and alumni including guest speakers, golf days and family barbeques. An example is the GMA Leadership Link, a guest speaker program which provides members with the opportunity to gain personal perspectives on leadership from distinguished UWA alumni. William (Bill) Hoff BA 1958 Retired Defence Economist, UWA Mentor William (Bill) Robertson BEc 1965, BCom 1969 Director, Bill Robertson & Associates Bill Robertson worked at Wesfarmers for 28 years. He retired as Strategic Planning Coordinator in 1995 and subsequently established a boutique strategic planning consultancy whose clients have included Foodland and West Australian Newspapers. Elizabeth Heenan BEc (Hons) 1965, BJuris (Hons)1974, LLB (Hons) 1975 Special Counsel, Marks & Sands Lawyers Elizabeth Heenan (née Doherty) has fulfilled a number of management roles within Marks & Sands, including as a former Partner. She is considered an authority on complex Probate matters amongst Perth lawyers. Elizabeth has been a member of the Attorney-General’s Succession Law Review Committee (since 2004); Director of Australian Women Lawyers (2006-2008); Legal Member of the King Edward Memorial Hospital and Princess Margaret Hospital for Children (Joint Ethics Committee 2000-2008). 37 Business School Hayley Parker, BCom, 2008 President of ECOMS, 2007 Aaron Constantine commenced with Patersons in 1985 and became an Executive Director in 1990 and then Head of Corporate Finance in 1999. In that time Patersons has grown from a single office Western Australian firm to become one of Australia’s largest full service stockbroking firms with 18 offices around Australia, employing a large number of former UWA students. He now manages a team of 23 executives located in Perth, Sydney and Melbourne that has become the most active arrangers, by number, of new equity issues in Australia. Karen Field BEc 1971 Director, Water Corporation Karen Field was the first Australian woman to head a major mine operation when appointed President of the Minera Alumbrera US$1.2billion Copper/Gold Joint Venture project in Argentina, a position she held from 1997-2007. She was one of the few women studying economics in the 1970s and convinced a friend to change from arts to economics so she knew someone. After graduating Karen went into mining because it was ‘the most exciting game in town.’ She currently holds Company Directorships with Sipa Resources Ltd, the Water Corporation and Western Power and in the not-for-profit sector, Amana Living, Aged Care. 80s On graduating in the 1970s David Ryan spent a number of years working for BHP Billiton Petroleum and built expertise in developing energy projects. Later, based in Melbourne he worked for Chevron on the Bass Strait Oil and Gas Project. He returned to Perth to work for the State Government New Energy Group. In his current role he is the State Agreement Manager for Collie coal mine projects and development plans. 90s From a speech celebrating the opening of the new Business School facilities David Ryan BCom 1970 Senior Project Manager, Department of State Development 38 Aaron Constantine BEc 1985, BCom 1990 Executive Director, Paterson Securities 2000s 70s “Life here at UWA is a vibrant community… clubs and societies, teachers, tutors and peers. It was a life-enhancing experience. Taking life by the horns, charging boldly into the future I will gain more knowledge and experience, and continue to build on the foundations of a wonderful education.” Virginia Christie BEc (Hons) 1989 Western Australian Senior Representative Reserve Bank of Australia (RBA) Virginia Christie gives an annual lecture on Monetary Economics to Professor Ken Clements’ undergraduate class. Many students benefit from insights into the practical workings of the RBA and information on a potential career path with the Central Bank. Virginia said that a number of UWA students have been successful in the Bank’s graduate recruitment program over a period of many years. She highlighted that this success reflects on both the quality of teaching and students’ ability to logically reason their way through complex economic problems based on their understanding of core economic principles. Adrian Arundell BCom 1994 Partner, Corporate Finance, KPMG Sarah Fordham, Alcoa, Executive MBA 2006 National Community Partnerships Manager, Alcoa Having commenced his career in Perth, Adrian has worked in KPMG offices around the world, including London, Vancouver and Paris and most recently Sydney. Experienced in the field of merger and aquisitions transactions he has gained over 12 years in KPMG’s Corporate Finance practice, including various valuations, capital raisings, acquisition and divestment transactions. He is a 2009 recipient of a WA Business News 40 under 40 award. Adrian has recently been appointed an inaugural member of the Western Australian Chapter of the Ambassadorial Council, which is an international network of Business School alumni and business community leaders. Sarah Fordham has an established reputation building community partnerships. She completed the Executive MBA with a view to moving into a strategically focused role. In 2008 she achieved this goal being appointed National Community Partnership Manager with Alcoa. Sarah has recently accepted a nomination to sit on the Business School Ambassadorial Council. Nina Yiannopoulos BEc (Hons) 2008 UWA Business School Economics Tutor/Law student In the final year of her economics degree with First-Class Honours, Nina Yiannopoulos participated in the Reserve Bank of Australia (RBA) intern program. She will move to Sydney to take up a two year cadetship with the RBA in 2010. 39 Business School PHILANTHROPY The Business School Futures Fund The Business School Futures Fund is a critical element of The Business School Campaign. Futures Funds raised have allowed the Business School to implement a wide range of programs benefiting students, the faculty and the Western Australian business community. Thanks to the support of our donors we have established 26 new scholarships, 10 new prizes, 2 new Professorial Chairs, 3 new Visiting Professor and Fellow programs (these will bring 19 visiting fellows to UWA over a five year period). We have 15 strategic corporate partnerships and over 768 individual donors. Western Australian philanthropists Stan and Jean Perron have contributed significant funds to establish the UWA Business School Visiting Fellow Program in Ethics and/or Entrepreneurship. Along with the Alcoa and NWQ Capital Visiting Professor programs, the goal is to bring internationally acclaimed professors to Perth to share their research findings. The Business School hosts a number of public events with visiting professors, including academic seminars for staff and students, a free public forum and a Leaders Lunch for business executives. According to Professor Tracey Horton, Dean: “The Visiting Professor programs allow us to encourage the interchange of ideas between academics and the business community around important questions facing business leaders and the community at large. In the past year alone, topics have ranged from the measurement of happiness, to the importance of corporate social responsibility to executive compensation. As a leading Business School, the role of facilitating dialogue, debate and discussion throughout the community is one that we emphasise and value.” In light of the global economic crisis many people are questioning the fundamental economic principles of a free market and democratic capitalist economies. One such critic is the 2009 Stan and Jean Perron Fellow, Dr Kunal Basu from Oxford University. Dr Basu’s area of research expertise is Corporate Social Responsibility (CSR) and the role of corporations in contributing to society beyond the economic 40 Image Courtesy of GFP Graduations Prosperity through Generosity Left: Dr Stan Perron is awarded a Honorary Doctorate by Dr Michael Chaney, Chancellor. Right: Dr Kunal Basu, Professor Tracey Horton, Alan Cransberg, CEO, Alcoa. imperatives of profit making. He spoke at a Leaders Lunch, presenting his research paper “Beyond Selfishness” as a platform to investigate the different CSR personality types of companies. Dr Basu’s provocative presentation challenged contemporary assumptions underpinning economic thought as he described the global financial crisis as ground zero for re-assessing our societal values and economic direction. Professor Horton invited guests to continue discussions over lunch. There were some very lively, remarkable and contested deliberations amongst the attending business executives. Professor Tracey Horton suggested Dr Basu’s visit was salient for business today and noted the depth and level of the discussion showed that UWA and the business community were well informed and engaged with shifts in the larger global market. The UWA Business School, true to its motto to seek wisdom, highly values the contributions of all those who seek knowledge through the path of open discussion and full enquiry. Professor Tracey Horton said: “Dr Basu’s visit signals to us that we are on the right track and are asking the right questions. The global interchange of ideas association between UWA and Oxford is something we continue to pursue. Thanks to Stan and Jean Perron for their gracious generosity to support these initiatives. This event, which extends the reach of inquiry and discussion beyond university grounds, would not have been possible without their support.” 41 Business School Image Courtesy of GFP Graduations Left to right: Dr Trevor Eastwood is congratulated on receiving a Honorary Doctorate by Dr Tony Howarth, Dr Michael Chaney, Dr John Poynton, Professor Tracey Horton. Conversation with a Philanthropist Dr Trevor Eastwood is a Leadership Donor to the Business School Futures Fund. He is the former Managing Director and Chairman of Wesfarmers. Trevor is recognised for the financial discipline instilled under his regime, which remains a feature of Wesfarmers. He has held directorships with Qantas Airways, Bankwest and West Australian Newspapers. Dr Eastwood started at Wesfarmers as a sponsored graduate during the vacation break, when Wesfarmers was a farmers co-operative. Dr Trevor Eastwood has a long association with UWA Business School. He was an undergraduate in Engineering when he took an elective in Commerce in his final year and realised his future was in the world of commerce. He never worked as an engineer and has maintained a connection with our Business School professors throughout his working life. Dr Eastwood says: “Knowledge is powerful. The greatest asset you have from an undergraduate degree is a proven ability to learn, which provides a springboard for the future.” 42 As a young executive at Wesfarmers (formerly Westralian Farmers Co-operative) in the 1970s, Trevor remembers seeking the advice of Dr Rony Gabbay to better understand Muslim culture and slaughter practices in order to export beef to the Middle East. Later the connection to UWA business education expertise was maintained through Professor Andre Morkel, who was invited to Wesfarmers strategic planning sessions. Reasons for Giving Years later Professor Andre Morkel confessed to Dr Eastwood that he had been extremely nervous about this opportunity and worried about bringing academic ideas into the ‘real world’. Trevor responded that at Wesfarmers, they had all been equally nervous about … the great guru coming to talk to us! In fact these sessions contributed to Wesfarmers transition from a farming co-operative to a listed company, and in particular the concept of “growth through logical incrementalisation”, which was an idea introduced by Professor Morkel. Don Voelte, Business School Leadership Donor “We took it seriously,” says Trevor. “We expanded into areas where we had knowledge and some experience to diversify and grow Wesfarmers.” “What better legacy can one leave than one in which he or she leaves the world a better place. Nancy and I believe education is the one real hope that can promulgate a better and more peaceful world. ” “Having spent many years working in the United States, I recognise that in order for Australian universities to compete internationally, broadening and deepening the level of philanthropy remains a key challenge.” James McClements, Alumni, Business School Leadership Donor and Mining “My family has always believed that education is the best way to help everyone help themselves. I was lucky enough to be brought up with the view that education was the only option. Now, this is how we as a family can usefully assist others.” Robyn Ahern, Alumni, Business School Donor “I feel so fortunate to receive this scholarship and very grateful for the opportunities it provides. Perhaps how I have benefited the most from the scholarship, is a greater understanding of the good that can come through philanthropy and I hope in the future I am in a position to give back and benefit others.” Leaders Scholarship Fund Donor Grant Gillmore, Craig Coleman Scholarship Recipient Under the leadership of Dr Trevor Eastwood as Managing Director and later as Chairman, the transformation of Wesfarmers from a farming co-operative to one of the pre-eminent diversified listed companies in Australia is well documented. Over the course of his time at Wesfarmers Dr Eastwood maintained a connection to the former Graduate School of Management (GSM) through Professor Andre Morkel and was invited to become the inaugural Chair of the former GSM Advisory Council. Dr Eastwood credits the transforming nature of education to realise potential for individuals, for business and for society. “A commitment to education is the greatest gift you can give to the next generation. If we are to prosper as nation, and as a society we ought to ensure the next generation is significantly better off than the last. My time at UWA and Harvard are two of the greatest influences in my life, without one or the other I wouldn’t be nearly as successful or productive. It is hard to imagine what life would be like without these experiences. My life would have been different.” 43 Business School Thank You to our Generous Donors “Truly great business schools have been transformed by the dedication, commitment and support of their alumni and the business community within which they operate. This is certainly true of our fundraising campaign and committee. I wish to thank all of those who have contributed so generously.” Rhonda Flottmann, Business School Campaign Manager Fundraising Committee Members Dr Tony Howarth AO, Chair Mark Barnaba, Deputy Chair Adrian Fini Chair, WA Branch Dr John Poynton AM Tony Adcock John Atkins Robyn Ahern Rhonda Flottmann Brian Hewitt Professor Tracey Horton Charlie Gunningham James Mactier Gaye McMath James McClements Michael Minosora Mark Paganin Professor Geoff Soutar Professor Iain Watson Graeme Yukich Heather Zampatti Sir Rod Eddington Chair, London Branch Brad Rosser, London Branch John Willinge, Chair New York Chapter Leadership Circle Dr Michael Chaney AO Rick Crabb Denis Cullity AO CMG & Ann Cullity AM Dr Trevor Eastwood AM & Judy Eastwood 44 Sir Rod Eddington Andrew Frazer David MacKinlay James & Meredith McClements Dr Stan Perron AM & Jean Perron Dr John Poynton AM Don Voelte & Nancy Keegan Futuris Corporation McCusker Charitable Foundation Directors Circle Mark & Paige Barnaba Craig Coleman Adrian & Michela Fini Richard & Janine Goyder Dr David Griffiths & Julanne Griffiths Professor Tracey Horton & Jonathan Horton Dr Anthony Howarth AO & Sally Howarth Mark & Carissa Paganin Brad Rosser Clinical Professor Fiona Wood AM John Willinge & Melina Higgins Criterion Properties Entrust Private Wealth Management Mannkal Economic Education Foundation Executive Circle Robyn Ahern & Family Anthony Barton Ian Burvill Neil Hamilton James & Cate Mactier Professor Larry Sjaastad Heather Zampatti Akamai Management Group HBF Health Funds Inc Investors Circle Tony Adcock Robert & Nancy Browning Warren Coli Karen Field Warwick Hemsley & Family Dr Patricia Kailis AM OBE Tim Lyons Gene Tilbrook Alan Roughead aussiehome.com BT Financial Group GEM Consulting Associates Circle Gavin Argyle John & Kate Atkins Nicholas Calder Patricia Dechow & Richard Sloan Michael & Joanne Ganon Krasnoff Family Heather Merritt Chin Haw Lim David J Mack Peter Mansell Gavin John Rezos Cameron Rhodes Peter Richards Gordon Sklenka Argonaut Straits Resources Affiliates Circle Dale Abbott AccentWest Mark Andrich Davina Ang Linda Anstey Gillian Arkwright Mark Armstrong Gregory Ashe Anna Bagshaw Lily Bahnam Benjamin Baker David Balfour Ian Ball Kenneth Banks Jason Barnes Cornelius Barron Antony Beckmand John Bell Sandy Bennetts Kim Boekeman Anthony Bonavita Victor Booth Lisa Bradock Christopher Branston Sarah Brazier David Breeze Gregory Brennan Ted Brindal Tanya Brown Tania Browne Sharon Bubnich Cathy Buckland George Burns Marc Butler Patrick Butterworth Melissa Callanan John Cameron Neil Cameron Paul Campbell Carmelo Capolingua Ralph Carbone Allan Cargill Brendan Carr Geoff Carslake Craig Carter Timothy Casey Mark Ceglinski Jeanne Chan Paul Chau Michael Chester Edwin Chong Garry Chong Peter Chong Dominic Chow Virginia Christie Ian Clarke David Clifton Sabrina Cocking Geoffrey Cole Michael Coles Richard Colgan Adam Conigliaro Philip Constable “Thank you for all you have contributed so far. You are the modern-day believers in Sir John Winthrop Hackett’s Vision … for, around a century ago, he not only had the vision for the establishment of this University … but the passion, determination and financial commitment to see it established as the first centre for higher learning in Western Australia.” Dr Michael Chaney, UWA Chancellor Aaron Constantine Patrick Cork Timothy Cornish Brett Crabb Ian Crisp Jane Crisp Kevin Crombie Keva Crouch Michael J Cullity Bruno Da Prato Raymond Dallin Desmond Dane-Stewart Peter Davies Bronwyn Davies Taylor Elizabeth Dawson Mary Day Bill De Steiger Beverley Deane Roderic Deas John Debowski Malcolm Deeks Pasqualino Degasperis Tim Delaney Paul Depiazzi Benjamin Devenish Brendon Dewar Cheu Diong Grahaem Donovan Phillip Douglass Corinne Drew Robert Druitt Kaye Duncan David Dundas Michael Eagle Colin Edwards Bree Elliott Cameron Elliott David Ellison Michael Elphick Brendon Entrekin Tamara Erdash Lauree Eterovich Cosimo Faiello Erik Fenna David Fitzpatrick Genevieve Fitzpatrick Ian Flack Henryk Flak Rhonda Flottmann Mark Foley Benjamin Fong Alexander Forcke Nicholas Forgione Simon Freitag Travis French Hadwin Fung Kevin Gammage Chit Yin Gan Sathyan Ganganahalli Brian Garbellini Amanda Gell Carlo Genovese Luke Gibson Scott Gibson Jeffrey Gidman Keith Glew Ross Glossop Philip Goatcher (Dec) Grant Godfrey Steven Goh Vincent Graneri Vic Grant Robert Gray Claire Grayston Martin Greay David Groucutt Ian Gummery Charlie Gunningham Martin Hadodo Adrian Han Graydon Hanly Fiona Harris Paul Hearne Jennifer Hertzman Stephen Hinsley Philip Hirschberg Sue Hobson Terence Hogan OAM Clinton Holten Graham Home Aileen Hooper John Hopkins David Hough Michael Hwang Stephen Ibbotson Anne Ismail Julie Ismail Mark Ivory Peter Jackson Giovanny B Jefferson Frederick Jeffreys Per Johansen Gregory Johnston Stephen Jones Andrew Joseph Allannah Kane Sean Kelly Olivia Ker Alan Kerr Peter Kerr Jay Son Khew Pamela-Jayne Kinder Anthony King Jeremy King Kenneth Kirkby Andrew Knowles Peter Kohlen Paul Kristoff Melinda Kubank Rakesh Kumar Garry Kurtz Carlo Lacrimini Rodney Lake Kim Le Georgina Lee Joy Lee Peter Lee Brian & Natasha Leedman David Lehane Tracy Leong Anthony Lester Alfred Leung James Lew Adrian Lim Hong Lim Joyce Lim Larry Lim Sun Wuah Lim Eric Ling 45 Business School Thank You to our Generous Donors Chee Wei Loh Li-Mae Loke Ee Von Loo Matthew Lunn Hieu Thuan Ly Stephen Lynch Michael Mackie Eamon MacKle Clive Macknay Ian Macpherson Jim Malone Edward Manasseh Daniel Manning Moshe Maor Olivier Marion Roeland Marissen Bill Marmion Michael Marsh Ian Marshall Robert Martin Graeme Matcham Mary McCarter Caroline McCleery Michael McLean Gaye & John McMath Andrew McPhail John Metaxas Gavin Miles Gavin Miller Greg Milne Graeme Missen John Mitchell Bree Mitchelson Tim & Rose Moore Nigel Moss Paul Mullins Lanny Mulyani Peter Murphy Thomas Murrell Michael Murrey Balakrishnan Nadarajah Rohan Nagappa Bruce Naysmith 46 Joel Nevin Wendy Ng Ng Tai Hwa Genevieve Jing Ngu Dung Nguyen Jeffrey Nurse Con O’Brien David O’Brien Peter Ochman Brian O’Donnell Gavin Offer Gordon Oma Frederic Ong Kerry Osling Lloyd Owens Ronald Packer Willy & Mimi Packer Peter Parolo Glenn Paterson Cameron Paul Russell Perring Joel Perrozzi Graeme Perryman Fran Pesich Denise Piggott David & Catherine Plowman Diane Porter Lesley Power Richard Power Blair Poynton John Price LB Price Michael Price Carmen Price-Tutor Graeme Prior Susan Prior Maysie Procianos Trevor Pyman Steven Pynt Ian Rakich Warren Read Janina Rebeiro Catherine Reid Robin Reid Mark Rich John Rippey Norman Roberts & Michele Jurak Bill Robertson Duncan Robertson Alan Robson AM & Gwenda Robson Paul Rokich Andrew Rose Yvonne Rosten Donald Rudderham Philip Rule Paul Rumenos Graeme Rundle Bradley Ryan David P Ryan Stephen Ryan Andrew J Saker Luigi Salleo Michelle Saunders Susan Saunders Michael Schrick Pamela Scott Mark Sewell Carol Shannon Robert Sharpless Matthew Sheldrick Ian Silver Bruce 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Photography by Frances Andrijich. UWA Business School Alumni and Ernst & Young professionals visit the new world-class Business School facilities.