Knowledge@Australian School of Business

Knowledge@Australian School of Business https://thebox.unsw.edu.au/podcast/EFD73392-66EB-11DF-A6300050568336DC/itunes-feed en-us 2026 UNSW . theBox no Tax Reform: Progress from the Forum We Had to Have UNSWTV The October Tax Forum may have been a federal government must-have due to its post-election power deal with independent MPs. However, little more than a month out, moves to define future reforms are taking shape. A high-level working group has been tasked with looking at company tax issues, while New South Wales and Queensland treasury officials are convening to discuss harmonisation of state taxes. Plans are also afoot for a new federally funded Tax Studies Institute. Australian School of Business professor Neil Warren, who attended the forum and spearheaded the call for the institute, delivers an insider's view of the forum we had to have. ,tax,forum,australia,federal,reform,company,state,neil,warren,knowledge,australian,school,business,asb,unsw Wed, 23 Nov 2011 09:59:24 -0800 E1E39AF0-155C-11E1-8F460050568336DC Eurozone Crisis: How Austerity is Obscuring the Big Picture UNSWTV Pressing global agenda items fell by the wayside at the recent G20 meeting in Cannes as the world's financial leaders again were preoccupied by the European debt debacle. Within days of the meeting, both Italy and Greece had new prime ministers charged with tackling their countries' economic woes. Fariborz Moshirian, a professor of finance at the Australian School of Business, says sorting out the more immediate debt problems in the Eurozone and the focus on austerity is obscuring the big issue, the absence of European fiscal policy union. He predicts further volatility ahead. ,G20,summit,meeting,cannes,2011,europe,european,debt,crisis,austerity,italy,greece,fiscal,policy,fariborz,moshirian,knowledge,australian,school,business,asb,unsw Wed, 23 Nov 2011 09:57:02 -0800 E8C08090-155C-11E1-8F460050568336DC Do You Really Want Fries With That? How to Find a Customer Service Perfect Match UNSWTV The attitudes and styles of customer service reps may present a perfect match for some customers, and just get up others' noses. New research from the Australian School of Business pinpoints three different perceptions of good customer service among frontline employees. Each is right in certain circumstances, but can be damaging when misplaced. With more customer touch points in today's organisations, the trick is in recruiting sales and service personnel to suit and then ensuring a one-size-fits-all approach to training does not impinge their beneficial attributes. ,customer,service,frontline,staff,employees,recruitment,training,sales,win-win,efficiency,means,personnel,knowledge,australian,school,business,asb,unsw Wed, 23 Nov 2011 14:19:13 -0800 887EA070-1581-11E1-8F460050568336DC Equal Pay: Setting the Standard to Even the Salary Gap UNSWTV Pay equity has eluded women in the Australian workforce. While there's been a drive to get more women into the boardroom and rising through the executive ranks, the pay gap between men and women has barely budged over the past 27 years. Now a new draft standard that aims to help progressive employers make the workplace fairer in terms of remuneration has been taking comments. Reading between the lines, it seems much of what women bring to their jobs is frequently undervalued. But with the release of a final standard in 2012 that may be all about to change. ,gender,pay,equity,remuneration,women,female,workforce,standard,workplace,knowledge,australian,school,business,asb,unsw Fri, 25 Nov 2011 12:51:00 -0800 8B4E7410-1707-11E1-8F460050568336DC Abusive Supervision: A Look at Bullying from Both Sides Now UNSWTV What's the role of the victim in workplace bullying? Typically, abusive bosses are blamed when it comes to instances of mistreatment at work, but bullying involves a two-way interaction. While not pointing the finger at workers, new research suggests it's time to explore abusive supervision from both perspectives. Are the underdogs contributing to their own plight? Particularly anxious employees may inadvertently bring on confrontation, claim the researchers, while organisational stress can also be a contributing factor. But in the end, both parties will need to work to repair the relationship. ,abusive,supervision,workplace,bullying,management,bosses,workers,employees,deviant,behaviour,relationship,stress,knowledge,australian,school,business,asb,unsw Mon, 05 Dec 2011 13:16:26 -0800 5F5A99B0-1EE6-11E1-A0F70050568336DC High-Frequency Trading: Want the Good News or the Bad? UNSWTV With the entry of the Chi-X trading platform to rival the Australian Securities Exchange, the technological equivalent of an arms race is underway as high-speed, high-volume algorithmic transactions enable the fastest trader to jump on a trend and profit from price changes. High-frequency trading (HFT) has regulators on red alert, while some investors call it parasitic, many like to blame it for the wild volatility that caused the 2010 Wall Street "flash crash". Market surveillance expert Mike Aitken, a professor at the Australian School of Business, says there's good news and bad news about HFT and an overwhelming lack of evidence. He urges regulators not to rely on hearsay. ,high,frequency,trading,hft,chi-x,asx,australian,securities,exchange,automatic,automated,computer,arbitrage,algorithmic,traders,regulation,parasitic,volatility,stock,market,crash,regulators,knowledge,school,business,asb,unsw Mon, 05 Dec 2011 13:20:46 -0800 62497C40-1EE6-11E1-A0F70050568336DC Beyond Specialisation: How Businesses Benefit When Opposites Attract UNSWTV The notion that people within a business cannot excel at everything typically prompts organisations to pursue particular orientations. They may be "customer focused" or put "employees first". Some are "adaptable" while others are "systems driven". However, new research from the Australian School of Business is challenging traditional business logic by revealing that ambidextrous organisations – those that adopt a more flexible approach and embrace the opposites – are more successful in terms of business performance, customer loyalty and staff engagement. Ambidexterity means more than being adaptable, it is about seeing value in the opposites, then striving to achieve them. ,ambidexterity,specialisation,orientation,focus,adaptable,flexible,management,skillset,opposites,knowledge,australian,school,business,asb,unsw Wed, 07 Dec 2011 14:55:54 -0800 FE38CCA0-2085-11E1-B72E0050568336DC Managing Office Romance: Is There a Policy for Mixing Business With Pleasure? UNSWTV Office romances tend to be considered by management as off-limits or too hot to handle. Creating and implementing policies and guidelines around such personal matters may be tricky, but it’s necessary, insist experts, because poorly managed – or unmanaged – relationships can negatively affect a workplace and sap productivity. Favouritism, conflicts of interest and lack of trust are just a few of the problems likely to emerge. With many relationships beginning at work these days, it’s time for managers to tackle this sensitive issue seriously, but carefully. ,office,affairs,romances,sexual,workplace,management,personal,relationships,productivity,conflict,dating,love,cupid,contracts,waivers,knowledge,australian,school,business,asb,unsw Thu, 15 Dec 2011 10:30:05 -0800 D445DE30-26AA-11E1-B72E0050568336DC Cognitive Overload? How Big Brother Manages Too Much Information UNSWTV Can't think straight? Chances are you have cognitive overload. Work roles that require multi-tasking and switching between modes of communication can overstretch brainpower. Telltale signs are altered speech patterns and blinking more slowly. Now new technology, based on research from the University of New South Wales, is helping managers select the right candidates for jobs and identify when workers are overloaded. In call centres, the smart software can even reallocate work. Not everyone will be comfortable with "big brother" watching, but experts say this is one way of avoiding the fallout from too much information. ,cognitive,overload,load,brain,gauge,brainguage,mental,employee,workload,stress,call,centre,nicta,knowledge,australian,school,business,asb,unsw Thu, 15 Dec 2011 10:37:07 -0800 D6EAE680-26AA-11E1-B72E0050568336DC New Business Frontiers: Predicting the Future of Population Ageing UNSWTV Global populations are growing older, and the potential economic impact is profound. Over the next four decades, the number of people in the world aged 60 and over is likely to triple. As individuals plan for a longer lifespan, saving and investment patterns are rapidly changing. Professor Michael Sherris from the Australian School of Business discusses longevity, and issues around saving for retirement. ,population,ageing,longevity,savings,investment,retirement,superannuation,michael,sherris,knowledge,australian,school,business,asb,unsw Mon, 09 Jan 2012 11:58:30 -0800 CA7DF150-3A58-11E1-AF740050568336DC Small Business Funding: The Big Four and the Big Squeeze UNSWTV Is the worst yet to come for smaller – 20 and under employee – businesses as they seek funding support from Australia’s risk-averse Big Four banks? In the wake of the financial crisis, the increasing power of the Big Four – underpinned by the government deposit and wholesale funding guarantees – has caused other lenders to be squeezed out. The cost and the terms for credit are predicted to become even tougher for small business this year. Business owners are being urged to “get their houses in order” so they can make a strong case for bank funding when markets recover. ,banks,banking,lenders,lending,loan,credit,small,business,funding,gfc,knowledge,australian,school,asb,unsw Mon, 09 Jan 2012 11:55:00 -0800 D3E0E590-3A58-11E1-AF740050568336DC Corporate Social Responsibility: How It Passed the Acid Test UNSWTV Corporate social responsibility has a new stickiness. Even in tough times, companies have retained their strategies to give back to the community. They see value in solving social issues that affect their businesses, enhance brand and reputation, and promote employee engagement. In Australia, for example, a breakthrough in social enterprise has emerged from the recent financial crisis, says Peter Shergold of the Centre for Social Impact. ,corporate,social,responsibility,csr,community,reputation,brand,enterprise,impact,peter,shergold,csi,knowledge,australian,school,business,asb,unsw Mon, 09 Jan 2012 11:51:34 -0800 D9E4D050-3A58-11E1-AF740050568336DC Growing Pains: Looking for Workers in All the Wrong Places? UNSWTV A critical shortage of labour may be posing a threat to Australia’s economic prosperity – but is immigration the best solution to skilling up for the ongoing resources boom? Woodside Petroleum, the nation’s second-largest oil and gas producer, has already reported a A$1.1 billion cost blowout in setting up its Pluto liquefied natural gas project due to unforeseen labour costs. And this may be just the beginning as bottlenecks look likely to delay future mining and energy projects. To meet demand, Australia must face up to the structural shift in its economy and encourage workers to move away from uncompetitive industries, suggests Australian School of Business economist Nigel Stapledon. ,labour,shortage,economy,immigration,mining,energy,sector,industry,workers,employment,nigel,stapledon,knowledge,australian,school,business,asb,unsw Mon, 09 Jan 2012 11:48:08 -0800 DDBFC090-3A58-11E1-AF740050568336DC Wealth Management: An Industry in Need of a Makeover? UNSWTV Double-digit returns may be back, but the wealth management industry has an image problem. Observers say the global financial crisis was a tipping point for the industry that handles Australia’s vast super savings – about A$6 billion monthly is landing in the hands of fund managers for investment. Wealth managers were criticised for under-delivering for their clients, but over-delivering for themselves - as the debate over how they should be paid continues. And the recently announced federal government reforms only go part of the way to addressing its issues. Some industry participants are considering a makeover. ,wealth,management,superannuation,fund,managers,gfc,federal,government,reform,industry,knowledge,australian,school,business,asb,unsw Mon, 09 Jan 2012 11:44:22 -0800 DE61F400-3A58-11E1-AF740050568336DC Shifting Focus: The Death of Short-Termism? UNSWTV Australian regulators are moving to quash the reckless behaviour that happens when company managers and shareholders have an irrational focus on short-term corporate performance rather than long-term value creation. Excessive remuneration has been blamed for being the main driver of short-term thinking, but will more regulation of companies offer a solution? And, will the attempts to encourage investors and companies to adopt a longer perspective stick? The answer may be in a more integrated international approach. ,short,long,term,termism,thinking,regulation,management,investors,shareholders,performance,remuneration,knowledge,australian,school,business,asb,unsw Mon, 09 Jan 2012 11:40:46 -0800 CF6AEDD0-3A58-11E1-AF740050568336DC Redistributing Wealth: Behind the Hype of the Mining Super Profits Tax UNSWTV The resource sector’s response to Australia’s proposed 40% tax on mining profits was shock and disbelief. Mining heavyweights, including BHP Billiton, Rio Tinto and Fortescue Metals, wasted no time in mounting an aggressive campaign against a levy intended to pass a significant share of mining profits to taxpayers and underdeveloped sectors of the economy, on the grounds that it will make Australia uncompetitive. But others are happy. Superannuation groups are excited by a tax that will direct more funds into the A$1.3 trillion pension pool. However, top economists claim that the economic argument over the tax – and government taking a bigger role in the resources sector – has been lost in the discussion about wealth redistribution. ,mining,super,profits,tax,industry,taxation,resources,sector,wealth,redistribution,economy,knowledge,australian,school,business,asb,unsw Fri, 25 Nov 2011 13:49:07 -0800 94205240-170F-11E1-8F460050568336DC Fraud Epidemic: Revealing the Corporate Underbelly UNSWTV Several reports have analysed the “epidemic of fraud” spreading through Australian companies. It’s been driven in part by performance-based remuneration and by cost-cutting that has weakened controls in the downturn. More often middle managers with the rights to authorise transactions have been the perpetrators, creating a boom time for forensic specialists. But the cheapest way to counteract fraud is to prevent it, says Peter Roebuck, an accounting professor at the Australian School of Business. In addition, organisations are wising up to managing the risks ,fraud,corporate,rumuneration,regulation,risk,management,control,knowledge,australian,school,business,asb,unsw Fri, 25 Nov 2011 13:42:51 -0800 7CE1F670-170E-11E1-8F460050568336DC New Asset Class: Taking a Punt on Mortality UNSWTV Predicting how long people will live is a perplexing and potentially pricey issue for pension funds and insurers across the world. Longevity risk – which is under pressure from a population aging in an uncertain way – is now giving rise to a new asset class. Investment banks are seizing the opportunity to make money from betting on mortality with longevity swaps and soon-to-be-tradable longevity bonds. With US$23 trillion in pension liabilities globally, taking the risk to the capital markets makes sense and it has a diversifying appeal for investors. But for its insurers and super funds to reap the benefits of these new assets, Australia needs to get moving on an annuities market and longevity index. ,population,aging,longevity,risk,bonds,swaps,pension,annuity,annuities,insurance,investment,superannuation,market,index,knowledge,australian,school,business,asb,unsw Fri, 25 Nov 2011 13:36:25 -0800 B225C920-170D-11E1-8F460050568336DC Financial Planning: What Is the Right Price for Advice? UNSWTV In an industry that has relied predominantly on commissions, setting the right price for financial advice may be fraught with difficulty. Following the federal government's ban on commissions for retail investment products, financial planners face a disconnect between the realistic cost of providing comprehensive advice, and what people think they should pay. In place of commission-based payments are three likely methods – a flat fee, a percentage-based amount or the more precarious pay-by-the-hour model. But with clients choosing a needs-only service, the number of planners is predicted to halve within 15 years. Experts suggest the key for clients and advisers is finding their perfect match. ,financial,planning,Knowledge@Australian School of Business, Australian School of Business,UNSW,advice,advisers,commissions Fri, 25 Nov 2011 13:24:30 -0800 52EC0820-8EFB-11DF-88950050568336DC Carbon Market: Powering up the Tools for Trading UNSWTV The carbon price legislation may have passed through parliament, but political uncertainty continues to dog the creation of the new market in Australia. An explosion of new derivatives is expected on the market as a means of hedging risk but, more immediately, Australia has its work cut out to get this new market running and dealing with existing emissions trading schemes. Regulation is just one critical part of the Australian story. With less than eight months to go until trading begins, experts point to the lack of detail on the new Clean Energy Regulator and consider whether a new regulator is even required.  ,carbon,price,trading,market,credits,derivatives,hedging,ets,emissions,scheme,regulator,regulations,clean,energy,knowledge,australian,school,business,asb,unsw Wed, 23 Nov 2011 10:01:45 -0800 DD001450-155C-11E1-8F460050568336DC European Disunity: The High Cost of Not Being in the Zone UNSWTV Is the end really near for the euro zone as in-fighting escalates among European leaders over strategies to bail out debt-stricken economies and strengthen the banking system? Should Greece default on its debts and quit the European Monetary Union to contain political and social unrest, the contagion effect looks set to be global. Those who believe the Greeks should be left to go it alone fail to understand the wider punishing effects, warns Wolfgang Buehler, a professor at the Australian School of Business who has extensively analysed the crisis. While the fallout may be dire for European unity and international trade, in its bitter lessons are clues for a better way forward. ,eu,european,union,default,greece,greek,debt,germany,bail,out,monetary,contagion,economy,economic,wolfgang,bueller,knowledge,australian,school,business,asb,unsw Wed, 01 May 2019 07:02:55 -0800 DD7F7FF1-FED3-11E0-BD250050568336DC Message in a Bottle: Time to Put the Screws on Booze? UNSWTV In a nation renowned for loving a drink, the wider impact of employees who drink too much now has been tallied. A new report estimates heavy drinkers cost others A$13.43 billion in out-of-pocket costs, lost wages and productivity. Many people, including those who compensate for accident-prone, underperforming co-workers, are hidden victims. The report only tells part of the story, claim the researchers who crunched the numbers for the first time. Will the staggering results help health minister Nicola Roxon pack more punch with her plan to set a minimum price for alcoholic drinks? ,alcohol,drinking,workplace,productivity,regulation,health,minimum,pricing,alcoholic,drinks,knowledge,australian,school,business,asb,unsw Fri, 14 Oct 2011 11:04:01 -0800 754183F0-F5F7-11E0-AD0A0050568336DC Anger Management: There's an Upside to Seeing Red at Work UNSWTV Work can be frustrating and enraging at times, but emotional outbursts are generally off limits. However, new research from the Australian School of Business shows tempered anger in the workplace can have a positive effect. Venting may clear the air or have a catalytic impact, signalling a matter of importance. It could even be a necessary "evil", just part of the job. But before letting fly, be mindful that things may turn sour if it's out of control – and the cause of the outrage will affect how it's perceived. ,anger,management,emotional,mental,control,illness,workplace,toxic,perception,knowledge,australian,school,business,asb,unsw Fri, 14 Oct 2011 10:51:08 -0800 0C4CD770-F5F5-11E0-AD0A0050568336DC The Regulators' Role: Making Rules to Reflect Moral Outrage UNSWTV International debate continues over the right way to regulate corporations as the global financial crisis metastasises into its next form. The US's rules-based approach and the UK's governance principles no longer cut it. A major problem is that most regulatory systems are designed as a consequence of past failure and are incapable of dealing with new crises as they emerge. Regulators now must rise to the challenge of creating a forward-looking, dynamic system that also captures the moral outrage triggered by the ongoing crisis and redefines the meaning of integrity, says Justin O'Brien, an expert in financial regulation at the University of New South Wales. ,gfc,financial,regulation,global,crisis,regulators,corporate,US,UK,rules,governance,justin,o,brien,knowledge,australian,school,business,asb,unsw Fri, 14 Oct 2011 10:47:20 -0800 03DAABD0-F5F5-11E0-AD0A0050568336DC Paying for Retirement: Enhancing the Allure of Annuities UNSWTV With the federal government's announcement of impending superannuation reforms, the spotlight is again on how to pay for increasingly longer retirements. Since saving for life after work became mandatory in the early '90s, Australians have shown a marked preference for cashing out super. The appeal of investing in an income stream through an annuity has been miniscule. But in Switzerland about 50% of the accumulated pension wealth is annuitised. The "generous" means test for the pension in Australia, in part, may explain the difference, as Monika Bütler, dean of the School of Economics and Political Science at University of St Gallen, told a recent Australian School of Business seminar. But that may not hold if the government keeps changing the rules. ,superannuation,retirement,savings,super,annuities,investment,pension,switzerland,swiss,monika,buetler,st,gallen,university,knowledge,australian,school,business,asb,unsw Tue, 27 Sep 2011 15:58:00 -0800 2882DF00-E8CD-11E0-8B440050568336DC Financial Reporting: What's Really in the Eyes of the Beholders? UNSWTV Formatting and presentation of financial statements has become a hot issue as poorly rendered information and misleading disclosure practices seriously impact on creditors and investors. A trailblazing team of researchers from the University of New South Wales and the University of Canberra has developed a way to show what counts by using eye tracking to determine exactly where people focus when reading financial information. Their research may prompt yet more changes to accounting standards and disclosure requirements, but experts argue one crucial point that definitely cannot be overlooked remains the need to ramp up financial literacy for everyone from company directors to mum-and-dad investors. ,financial,statements,accounting,disclosure,investment,literacy,eye,tracking,unsw,adfa,knowledge,australian,school,business,asb Tue, 20 Sep 2011 14:36:08 -0800 74E3F230-E341-11E0-8C0B0050568336DC If Men are Not Slackers, Why Are Women Still Holding the Baby? UNSWTV Times may have changed, but in 2011 Australian women are still holding the baby. The popular belief that childrearing has become more equally shared is not born out by statistics. Mothers and fathers put roughly the same hours into domestic and paid work combined, but women spend far more time raising the kids, a University of New South Wales study reveals. Men are not slackers, insists researcher Lyn Craig. The culprits are employers who offer little genuine flexibility in working hours. CEOs can lead the way by visibly demonstrating that they also have lives. ,child,care,children,domestic,paid,work,rearing,workplace,flexibility,equity,pay,gender,male,female,workers,mother,father,men,women,knowledge,australian,school,business,asb,unsw Tue, 13 Sep 2011 17:54:40 -0800 D2CC3710-DDDB-11E0-8C0B0050568336DC The High Price of Living Longer: Pay-as-you-go or No Frills Aged Care? UNSWTV The Productivity Commission's controversial recommendations for aged care have provided food for thought for policymakers, insurers and many older Australians. The news that an aging population must fund its own care costs, where possible by drawing on that treasured asset, the family home, was only the beginning. The insurance industry is confronting market failure for its inability to provide long-term care products. While many are hoping the government will pick up the slack, a few older Australians already have taken flight for less costly living offshore. But, as Australian School of Business actuarial professor Michael Sherris says, the huge issue of funding aged care won't go away so readily. ,productivity,commission,aged,care,pension,retirement,superannuation,insurance,population,ageing,reverse,mortgage,actuarial,studies,michael,sherris,knowledge,australian,school,business,asb,unsw Tue, 13 Sep 2011 17:51:13 -0800 CC68EE40-DDDB-11E0-8C0B0050568336DC Big Tobacco: Could Plain Packaging All Go Up in Smoke? UNSWTV An unprecedented stoush is shaping up around Australia’s trailblazing Tobacco Plain Packaging Bill that’s before the Senate. The legislation mandates the use of drab packaging from July 2012 in a bid to make smoking less appealing, and reduce deaths from smoking-related illnesses. Amid shouting about the "nanny state", Big Tobacco is planning a High Court challenge potentially claiming billions of dollars worth of compensation for the Commonwealth’s acquisition of intellectual property. Despite the core argument about public good, University of New South Wales’ law professor George Williams says the outcome of such a case is unpredictable. ,tobacco,plain,packaging,bill,australia,high,court,commonwealth,trademark,intellectual,property,rights,ip,law,knowledge,australian,school,business,asb,unsw,legislation Tue, 13 Sep 2011 17:47:09 -0800 C5E684B0-DDDB-11E0-8C0B0050568336DC Financial Exclusion: The Dark Side of an Affluent Nation UNSWTV Australia is frequently highly rated for its affluence, but there's a massive imbalance when it comes to financial equity. One in seven Australian adults are completely or severely excluded from accessing basic financial services, such as a bank account, insurance or a line of credit. The first Financial Exclusion Indicator has been developed by National Australia Bank and the Centre for Social Impact at the University of New South Wales'. It exposes the reality for more than 2.6 million residents of "the lucky country", many of whom are already classified among society's most vulnerable. Is awareness the first step in helping Australia's poor avoid what's often an inexorable downward spiral? ,financial,exclusion,banks,insurance,credit,working,poor,disadvantaged,communities,indiginous,elderly,centre,social,impact,indicator,knowledge,australian,school,business,asb,unsw Wed, 31 Aug 2011 15:02:39 -0800 1AD442D0-D38E-11E0-87E20050568336DC Superbugs: Why Pharmaceutical Companies Are Resistant to Antibiotics UNSWTV The World Health Organization has warned that antibiotic resistant "superbugs" may give rise to a global health emergency. Already about 7000 Australians die annually from infections caused by drug-resistant bacteria, but pharmaceutical companies seem reluctant to produce new medicines to tackle the problem. Long lead times for drug development, commercial risks and government policies that keep costs down are among the reasons why big pharma is intent on treating diseases and conditions that keep patients coming back for more. A national surveillance program is urgently needed. Meanwhile, strategies devised at an interdisciplinary summit at the University of New South Wales aim to improve the prognosis. ,antibiotics,antimicrobial,resistance,superbugs,pharmaceutical,companies,medicine,pathology,incentives,resistant,drug,knowledge,australian,school,business,asb,unsw Wed, 31 Aug 2011 10:06:42 -0800 9F8A5BB0-D364-11E0-87E20050568336DC Playing for Keeps: Is Sport's Endgame a Slice of the Action? UNSWTV Who owns sport? That's the big question for the digital age as sport's governing bodies, teams, venue owners, the media and others jostle for a slice of the financial action. The recently signed media rights deal for the Australian Football League (AFL) – A$1.25 billion over five years – shows there's plenty at stake. In addition to traditional outlets, multiple possibilities for viewing pleasure are now presented by the Internet and mobile media, but the definition of fair use is fuzzy at best. And, it seems the day when news organisations may have to pay to report on major sporting events is not far away. ,sport,media,digital,broadcast,rights,afl,football,cricket,australia,internet,mobile,knowledge,australian,school,business,asb,unsw Mon, 29 Aug 2011 12:47:58 -0800 056DBA90-D1E8-11E0-82D10050568336DC Social Media Recruitment: How to Put the Writing on the Wall UNSWTV Social media offers a powerful platform for organisations to find and communicate with prospective employees and vice-versa. Its popularity is growing fast, with about 80% of recruiters these days checking out candidates' "credentials" on social sites. However, employers are still figuring out the best approach. Beyond its viral possibilities, drivers for engaging through social media vary, with reasons including cost saving, branding and exploring the "fit" of wannabe employees with the corporation. Experts warn it's easy for both parties to be fooled by the immediacy and informality of the medium. That's why plenty of forethought and a strategy are essential. ,social,media,recruitment,human,resources,hr,employment,recruiters,knowledge,australian,school,business,asb,unsw Mon, 29 Aug 2011 12:45:20 -0800 0AF5BE90-D1E8-11E0-82D10050568336DC The Only Way is Ethics: What Business Schools Learned from the Crisis UNSWTV Business schools were blamed for producing leaders with ethical bypasses who caused many corporate scandals in the global financial crisis. But as memories fade, have efforts to raise awareness of ethics among the next generation of business professionals also started to wane? Not likely, says Tony Buono, executive director of the Bentley Alliance for Ethics and Social Responsibility in Massachusetts. Programs that challenge academics to tackle ethical issues in coursework are proliferating across the world. Australia and New Zealand's first United Nation's Principles for Responsible Management Education Summit, held recently at the University of New South Wales, was just one example. ,business,education,ethics,gfc,social,responsibility,bentley,tony,buono,united,nations,responsible,management,summit,knowledge,australian,school,asb,unsw Mon, 29 Aug 2011 12:42:37 -0800 10BE26F0-D1E8-11E0-82D10050568336DC Corporate Crime: What's the Difference Between Sharp Practice and Dishonesty? UNSWTV Dishonesty is a slippery concept and it's often a debatable element in corporate criminal cases – but there may be a gap between what the law defines as wrong and what the public sees as morally reprehensible. Increasingly juries are being asked to decide as this "fuzzy" area comes to the fore. The trend is good news for the wider community as it raises ethical standards. It's logical to use the same standards for commercial entities and the rest of us, argues Australia's Commonwealth Director of Public Prosecutions, Chris Craigie, who believes the term "white-collar" crime should no longer apply. ,dishonesty,dishonest,conduct,fraud,corporate,commercial,criminal,civil,morality,ethics,chris,craigie,knowledge,australian,school,business,asb,unsw Thu, 18 Aug 2011 14:26:25 -0800 ADD471F0-C951-11E0-82D10050568336DC The Top Rule for Hot Bloggers: Hold the Hype UNSWTV To blog or not to blog? For professionals and companies intent on high profiles, blogging has become vital in the social media mix. Smart bloggers constantly show thought leadership, share expertise and insights and effectively strike up conversations, and they understand how to roll with punches of public scrutiny. The rewards of open two-way communication with staff and customers far outweigh the risks, they say. Conversely, bad bloggers are fearful, sporadic and hype themselves or their products in a medium keenly sensitised to blog-flog. Newcomers to the blogosphere must know the rules, because the next question is: Can you afford not to blog? ,blog,blogging,bloggers,corporate,social,media,public,communication,knowledge,australian,school,business,asb,unsw Wed, 17 Aug 2011 10:19:44 -0800 5AD113C8-C867-11E0-8BE40050568336DC Happiness Is ... A Career Move UNSWTV When switching jobs, the lure of a bigger pay packet for new recruits is not as powerful as many employers may think. And, in these days of talent and skills shortages, dangling the carrot of work-life balance may not work either when it comes to making new hires. Security and on-the-job stimulation are the major motivations for people making a career move, according to new research from the University of New South Wales. While some industries are more inclined to employee turnover, and big organisations have better chances of retaining their staff, there's also a gender divide. Blue-collar women workers are more likely to stay put than male counterparts or female professionals. ,job,career,switching,move,pay,work-life,balance,security,motivation,staff,retention,gender,knowledge,australian,school,business,asb,unsw Tue, 16 Aug 2011 15:23:12 -0800 5AD03036-C867-11E0-8BE40050568336DC Global Financial Volatility: How Serious Will the Slowdown Be? UNSWTV High volatility in global financial markets has even seasoned players looking askance. The world hung on tenterhooks waiting for the US to raise its debt ceiling, only to find those inside the credit ratings agencies were unimpressed by the outcome. Then, the markets crashed and the rollercoaster continued. Debt-ridden Europe is still reeling, there's even uncertainty around China. But optimists in resource-rich Australia are holding on tight. Predicting what's next is tricky as the world's financial markets are more integrated these days. However, according to Australian School of Business finance professor Ron Masulis, the question is not whether a slowdown is expected, but just how serious and how long will it be? ,global,financial,markets,crisis,stockmarket,commodities,currency,minerals,energy,united,states,USA,China,Japan,Australia,Europe,Ron,Masulis,finance,knowledge,austrlain,school,business,asb,unsw Tue, 16 Aug 2011 15:20:03 -0800 5AD0302E-C867-11E0-8BE40050568336DC Not-For-Profit Volunteers: Selfless or Selfish? UNSWTV Not-for-profit organisations often thrive on the strength of volunteers so understanding what drives people to give time and effort free of charge is vital. Typically, volunteering is considered a selfless, empathetic activity, but quite often the "me" factor is at play. A new study from the Australian School of Business shows the motivations of volunteers vary greatly between age groups and indicates the need for not-for-profits (NFPs) to profile their volunteer bases to understand where gaps exist. Self-interested volunteers can work well, as long as the NFP knows how to wrangle them. ,not-for-profit,nfp,volunteers,organisations,corporate,motivation,recruitment,knowledge,australian,school,business,asb,unsw Wed, 01 May 2019 17:09:40 -0800 A7977040-BCE4-11E0-AD460050568336DC The Price of Trade Protectionism: Yes, We Have No Bananas! UNSWTV The overturning of a 90-year ban on the import of New Zealand-grown apples has highlighted Australia's strict trade-protectionist quarantine policies. Researchers at the Australian School of Business say keeping out foreign produce may address competition comfort levels for industry, but often the real losers are consumers. Policymakers must more carefully weigh the benefits of imports against the perceived threats, they insist. Mad cow disease is definitely not worth trifling with, but the cost of an occasional outbreak of fruit-borne disease is far outstripped by the value of benefits that imports bring to consumers. There's food for thought! ,trade,protection,quarantine,foreign,import,produce,kevin,fox,knowledge,australian,school,business,asb,unsw Tue, 02 Aug 2011 20:46:40 -0800 9C3FB0E0-BCE4-11E0-AD460050568336DC When Brands Change Hands: Why Get in a Froth About Foster's? UNSWTV Many Australians have been up in arms at the thought of more of their iconic brands shifting offshore with the proposed takeover of Foster's Group by the UK's SABMiller. But overseas ownership of big Aussie-originated brands – think Holden, Vegemite, Arnott's, Speedo and Victa Lawncare – does not necessarily affect consumers' perceptions. Undoubtedly, new international proprietors would keep the marketing cachet that comes with providing a taste of the desirable Australian lifestyle in a glass, bottle or straight from the can, says Dean Wilkie, a marketing expert at the Australian School of Business. It's more than likely that lager drinkers across the globe would remain oblivious to an ownership change. ,foster,s,lager,sabmiller,uk,ownership,consumer,perception,lifestyle,marketing,dean,wilkie,knowledge,australian,school,business,asb,unsw Tue, 02 Aug 2011 20:44:39 -0800 B2A52E50-BCE4-11E0-AD460050568336DC Geolocation Marketing: The Next Big Deal is Thinking Local UNSWTV "Think local" is becoming the new mantra for marketers as the potential to find customers through geolocation is rapidly developing. Those wanting an organic banana, a cheap meal or to find the whereabouts of their friends, are increasingly discovering the touch of a smart phone app will deliver the goods. There are privacy issues to be considered, but it seems there's no holding back. Experts suggest the mobile phone is the most persuasive technology ever invented and for marketers it's simply irresistible. Suddenly Facebook is looking "so yesterday" for companies that can heed the local call to action. ,geolocation,gps,smart,phones,mobile,marketing,iphone,android,foursquare,facebook,twitter,app,social,media,local,adfa,unsw,knowledge,australian,school,business,asb Tue, 02 Aug 2011 20:32:06 -0800 92907160-BCE4-11E0-AD460050568336DC Green IT: A Cost-cutting Strategy Beyond Switching Off the Screensaver UNSWTV Companies have barely scratched the surface when it comes to making information technology (IT) "greener". Research shows only one in six Australian organisations has gone beyond the basics, yet the trailblazers claim substantial savings and reputational benefits await those who make more than cursory moves, such as switching off screensavers. Most organisations have no idea how much powering up IT costs in the first place, and there's a tendency to let the issue rest with the IT department. Top-down management, integrated effort and, importantly, measurement can save the planet and the bottom line, experts say. ,green,sustainable,information,technology,it,energy,electricity,sustainability,knowledge,australian,school,business,asb,unsw Wed, 27 Jul 2011 13:16:10 -0800 0DDF9E90-B7FE-11E0-91480050568336DC Game-changers: Can Philanthrocapitalism Rid Australia of a Dubious Distinction? UNSWTV Two of the world's richest men, Microsoft founder Bill Gates and US investor Warren Buffett are role models for a new style of strategically focussed philanthropy that's helping to solve devastating medical and social problems. The payout for philanthrocapitalists is not personal financial returns, but seeing the evolution of benefits that save society money. A trailblazer for this finely focussed wealth-sharing in Australia is an ambitious network – seed-funded by Billabong surf wear millionaire Gordon Merchant – that hopes to set a benchmark for philanthrocapitalism and develop a vaccine to prevent skin cancer, a disease that costs the Australian economy A$5 billion annually. ,philanthrocapitalism,philanthropy,investment,medical,social,skin,cancer,knowledge,australian,school,business,asb,unsw Tue, 19 Jul 2011 17:44:51 -0800 32B9ECA0-B1D9-11E0-91480050568336DC Boardroom Exodus: Fallout from the Centro Case UNSWTV Non-executive directors across Australia are reportedly seriously reconsidering their roles in the wake of the recent Centro Federal Court case. The court found the property giant's directors responsible for an accounting mistake that almost caused the company's collapse in 2007. In their defence, the board members said they had relied on the auditors. Michael Peters, an expert in Business Law and Taxation at the Australian School of Business, says the implications of the decision are onerous and potentially will diminish the pool of talent for directorships, keeping women and minority groups out of boardrooms. ,non-executive,directors,board,boards,centro,auditors,michael,peters,law,taxation,knowledge,australian,school,business,asb,unsw Tue, 19 Jul 2011 17:42:09 -0800 3B278460-B1D9-11E0-91480050568336DC Old Media Obituary: The Demise of Newspapers Was Not Greatly Exaggerated UNSWTV Newspapers' "rivers of gold" are down to a trickle as advertising sales increasingly move online. With the exception of Asia – where newspaper sales have leapt 13% over the past five years – the need to switch from newsprint to a subscriber-based digital format is urgent and inevitable. In the new media scramble, the shift online was "disastrous" as news powerhouses gave away their content free, says University of New South Wales' research fellow David McKnight. But is the tablet the right medicine for a sunset industry that's writing its own obituary much faster than the next business plan? ,media,newspapers,old,advertising,print,online,digital,new,subscription,plan,knowledge,australian,school,business,asb,unsw Tue, 19 Jul 2011 17:37:03 -0800 2B14D500-B1D9-11E0-91480050568336DC Broadband Monopoly: Regulator Required for High-Speed Step Back in Time UNSWTV Who'll keep an eye on the biggest publicly funded infrastructure project in Australian history? With the recent signing of an A$11 billion agreement allowing the planned National Broadband Network to use dominant telco Telstra's existing network and infrastructure to rollout fibre-optic cables connecting 93% of the populace, the A$36 billion NBN now looks set to be a "massive" monopoly. That's why a separate independent regulator is essential, insists Michael Peters, a lecturer in Taxation and Business Law at the Australian School of Business. Currently, the government is making up the rules for the NBN is it goes along, he claims. And its efforts to get Australia up to speed with the Internet are taking the nation back to the future. ,national,broadband,network,nbn,telstra,internet,monopoly,regulator,michael,peters,knowledge,australian,school,business,asb,unsw Tue, 05 Jul 2011 17:30:33 -0800 57B8A3E0-A6D8-11E0-B0910050568336DC Consumer Power Unleashed: Managing the Rise of the Digital Activist UNSWTV Viral activism now presents a major threat to global brands. "If you don't like it, tweet about it" has become the mantra for dissatisfied customers who have embraced the power of the Internet, and social media, in particular. The impact of online consumer activism cannot be under-estimated, says Australia's consumer watchdog, CHOICE. But nimble companies are acting fast, saying sorry and leveraging the abundance of consumer insights for product development and further interaction, note experts at the Australian School of Business. The new age of the digital activist is a prime opportunity for development. ,consumer,activism,online,internet,social,media,digital,customer,rage,knowledge,australian,school,business,asb,unsw Tue, 05 Jul 2011 17:19:40 -0800 ED04E240-A6D5-11E0-B0910050568336DC Stock Market Competition: Why the ASX Needs the X-Factor? UNSWTV Muttering around the market suggests the game's all but up for the Australian Securities Exchange (ASX) as it faces competition for the first time later this year. Coming out of a monopoly, the ASX's lack of customer focus will send many flocking to the newcomer Chi-X Australia, its critics claim. But suggestions are that the newcomer with its low cost, high-speed system will be hard-pressed to make a profit, even if the volume of trading increases as anticipated. The ASX has had plenty of time to prepare and may ramp up its other revenue sources, but it's now predicted that these may also be under threat. ,stock,market,securities,exchange,australia,asx,chi-x,monopoly,high-speed,trading,knowledge,australian,school,business,asb,unsw Tue, 05 Jul 2011 17:17:21 -0800 F7FAD290-A6D5-11E0-B0910050568336DC Age Diversity at Work: Talking 'Bout My Generation UNSWTV There's no training manual for how to manage multigenerational workforces. Yet a new study from the Australian School of Business covering four generational cohorts in five countries shows significant differences in work values exist between age groups. Members of Generation Y may be technologically adept, but their focus on leisure strongly conflicts with Traditionalists' and Baby Boomers' hard-work ethics. Adaptability is required all round. Some companies are actually leveraging generational differences. And when initiatives are designed to appeal to the "work-is-not-my-life" young ones, often more seasoned colleagues also opt to get with the program. Wed, 01 May 2019 18:55:58 -0800 FF398740-A6D5-11E0-B0910050568336DC Strategic Thinking: How to Zoom in on the Big Picture UNSWTV Executives and managers confront a barrage of distractions from the big picture. As the speed of change and communication in global business generates incessant opportunities and threats, a clear corporate strategy is more vital for long-term business success than ever. Smart organisations know where they are heading and why. Some even divest profitable operations just to stick to their plans. Doug Stace, a strategy expert at the Australian School of Business, highlights why strategy must be a day-to-day concern and not only an annual planning event. ,strategy,corporate,planning,risk,doug,stace,knowledge,australian,school,business,asb,unsw Thu, 02 May 2019 15:16:57 -0800 DF384800-9C71-11E0-A8050050568336DC Pricing Carbon: The New Age of Accidental Environmentalism UNSWTV In the face of uncertainty over a carbon price, major Australian companies admit they have made decisions to invest in emissions-heavy capital equipment and infrastructure rather than green technologies. Yet most big companies believe the move to constrain carbon will ultimately benefit their businesses, a new survey shows. Despite the presence of laggards and the loud voices of the doubters, Ben McNeil, a senior fellow in the Climate Change Research Centre at the University of New South Wales, looks forward to corporate Australia's next generation of accidental environmentalists who will be driven by innovation and opportunity, and not a moment too soon. ,carbon,price,tax,green,technology,emissions,electricity,energy,ben,mcneil,climate,change,research,centre,knowledge,australian,school,business,asb,unsw Wed, 22 Jun 2011 12:07:18 -0800 FFC900D0-9C73-11E0-A8050050568336DC Who Cares for Carers? Tackling Stigma at Work UNSWTV A strong federal government push for social inclusion is encouraging people with disabilities and carers into the workforce. New research shows carers for the disabled tend to be in low paid, low skill, part-time jobs, and suggests stereotypes perpetuated by the media may be partly to blame. The number of carers is set to grow as Australia's population ages. Currently four in 10 are engaged in the workforce. Australian School of Business academic Hugh Bainbridge says it's time to start the conversations. There's plenty of room for improvement in considering carers at work at the individual, organisational and governmental levels. ,carers,disabled,workforce,participation,media,population,ageing,hugh,bainbridge,knowledge,australian,school,business,asb,unsw Wed, 22 Jun 2011 11:56:22 -0800 94657730-9C71-11E0-A8050050568336DC Disasters Down Under: Why Reinsurers are Heeding the Call of Catastrophe UNSWTV From earthquakes to extensive floods and a cyclone, the recent sequence of disasters in Australia and New Zealand has left thousands of people reeling. Insurers and reinsurers were also rocked by extensive claims, but reports that companies now may shun South Pacific markets are greatly exaggerated, not least because the catastrophes raised public awareness of the need for insurance. With their sights on new business and greater profits, big reinsurers are actually moving down under. And, Michael Sherris, a professor of Actuarial Studies at the Australian School of Business, predicts it's just the beginning. More newcomers can be expected as the industry adjusts its models and finds ways to recapitalise. ,disaster,catastrophe,earthquake,flood,cyclone,insurance,reinsurance,actuarial,studies,michael,sherris,knowledge,australian,school,business,asb,unsw Wed, 22 Jun 2011 11:54:06 -0800 86024C90-9C71-11E0-A8050050568336DC Employee Engagement Surveys: Is Your Team Ticking Five to Survive? UNSWTV High-scoring employment engagement surveys make managers feel good because they suggest staff will apply discretionary effort, ultimately improving productivity and promoting growth. Bosses' bonuses also may depend on those stellar results. But many companies use desultory tick-a-box engagement surveys that are filled out by employees under pressure to "tick five to survive". Measurement of engagement needs a rethink as real value only comes from data that shows an organisation's true climate, suggests Julie Cogin, head of Organisation and Management at the Australian School of Business. She warns that half-hearted survey efforts may be worse than none at all. ,employee,engagement,management,surveys,focus,groups,human,resources,hr,knowledge,australian,school,business,asb,unsw Wed, 08 Jun 2011 01:53:29 -0800 ACBF4880-9116-11E0-A7FF0050568336DC Multinational Managers: Spotting the Difference Between Locals and Global Citizens UNSWTV The new breed of "global citizen" is puzzling for multinational managers. When posted to new territories, managers who are trained to accommodate cultural differences often find co-workers do not fit the stereotype. New research uncovers a more nuanced landscape where many – but not all – employees eagerly "acculturate" to working for a foreign company. Risks are both in imposing an organisation's home culture or going too far with localising by adapting to the host country's ways. And, from learning to expect the unexpected, benefits may extend across the whole company. ,multinational,global,corporations,management,cultural,difference,knowledge,australian,school,business,asb,unsw Wed, 08 Jun 2011 01:51:35 -0800 21F0F630-9117-11E0-A7FF0050568336DC Aged Care Revolution: The Next Generation of Stay-At-Home Grannies UNSWTV Baby boomers are expected to age differently and to be "old" for longer than previous generations. But, with an aged care system that's "creaking to the point of collapse", policymakers and providers have their work cut out for them. A shake-up is expected following a set of recommendations for caring for older Australians, due to be released by the Productivity Commission shortly. While plans to accommodate ageing in place – living at home until you die – may not come up well on a cost-benefit analysis, they are in the comfort zone for a generation that's used to getting what it wants and look set to go ahead. ,aged,care,population,ageing,productivity,commission,housing,knowledge,australian,school,business,asb,unsw Wed, 08 Jun 2011 01:48:59 -0800 BBD79CE0-9117-11E0-A7FF0050568336DC Measuring Up: What's the Right Way to Gauge House Prices? UNSWTV House prices generally excite conversations, particularly in Australia where the cost of residential property is through the roof. In broad economic terms, house prices may provide an indicator of a nation's financial stability, but finding accurate figures is tricky due to market volatility, relatively low turnover and time lags in reporting data. The popular measure of median house sale prices does not tell the full story, argues Jan de Haan of Statistics Netherlands, who has been working on a handbook aimed at harmonising global house price indices for the European Commission's Eurostat. He outlines the right way to measure up. ,house,prices,housing,residential,property,Jan,de,Haan,statistics,netherlands,eurostat,knowledge,australian,school,business,asb,unsw Wed, 08 Jun 2011 01:45:45 -0800 45762C50-9118-11E0-A7FF0050568336DC Team Management: Hands Down, Taking a Democratic Vote Is a Bad Idea UNSWTV Conflict can be good for teams. When team members trust one another and are able to explain their logic, disagreement can be harnessed to encourage focus and creativity, says Randall Peterson, a professor of Organisational Behaviour at London Business School who's spent more than a decade researching what makes teams tick. A strong team leader is a plus, but the democratic approach of taking a deciding vote to determine outcomes is likely to have a negative effect on team cohesion, he warns. Peterson outlines how to promote productivity and stop a difference of opinions escalating into "I hate you!". ,conflict,team,management,leadership,organisational,behaviour,randall,peterson,london,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 18:34:31 -0800 F61FA3E0-8A8F-11E0-B0760050568336DC Restructuring: The Hard Truth About Sell-offs Vs. Lay-offs UNSWTV Companies that sack staff are more likely to go bankrupt or be taken over than those that restructure by divesting under-performing parts of their business, according to new research from the Australian School of Business. Firing staff does not always turn up cost savings or efficiency improvements, and it dents the morale of those left behind and the opinions of shareholders. With lay-offs becoming increasingly popular in Australia – mainly due to the changing nature of the workforce – a rethink may be in order for corporate chiefs as they confront potentially make-or-break decisions. ,restructuring,restructure,divestiture,lay-off,firing,staff,knowledge,australian,school,business,asb,unsw,lay-offs Mon, 30 May 2011 18:31:59 -0800 F086D700-8A8F-11E0-B0760050568336DC Managing TeleWorkers: Coming to Grips with Remote Control UNSWTV Managers pay lip service to supporting flexible work practices. But statistics discredit claims that they're all cool about staffers working from home. A recent Australian study showed while 24% of Australian organisations said they allowed teleworking, only 6% of employees actually work offsite. It seems not being able to see who's at work brings out managers' fears about remote control, that's despite mounting evidence that teleworking increases productivity and boosts bottom lines. Enjoying its benefits requires a shift in management style and policies for communication. And, while being gung-ho about the upside, there's also the issue that not everyone wants to work far and away. ,teleworking,teleworkers,flexible,work,home,productivity,management,communication,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 18:29:25 -0800 EAEE3130-8A8F-11E0-B0760050568336DC Global Warming: How to Win the Argument About Climate Change UNSWTV With a carbon tax proposed to come into effect in mid-2012, the loud voices of Australia's climate change sceptics are again on the rise, highlighting the disconnect between the scientific community and the public and media perception of the damage inflicted by increasing levels of CO2 in the atmosphere. Despite mounting evidence of global warming, there are numerous reasons why sceptics have been able to stay in denial, according to two University of New South Wales professors. Here they pinpoint the difficulties in communicating the "diabolical problem" and how to overcome them. ,carbon,tax,climate,change,global,warming,CO2,media,science,sceptics,sceptic,denial,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 18:27:09 -0800 E531AFB0-8A8F-11E0-B0760050568336DC Identity Crime: What's in a Name? UNSWTV Finding the perpetrators of identity crime has always been tricky, but these days the problem is exacerbated because ID deception and theft knows no bounds, thanks to the Internet. There's no clear understanding of the size of the problem or its nature. And, the job of cracking down on identity crime globally is made all the more difficult for authorities by the use of inconsistent terminology. The legal system has been slow to appreciate the breadth and complexity of ID crime, say a team of researchers at the Australian School of Business. But that's all about to change. ,identity,id,crime,theft,deception,internet,legal,law,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 18:23:34 -0800 2CD9CD70-8A90-11E0-B0760050568336DC Tax and Politics: The Danger Zone Where Speed Can Be Fatal UNSWTV The row over the federal government's planned carbon tax has again highlighted the tricky mix of politics and tax. Add to that the controversy over the proposed flood levy and the ongoing debate over the Mineral Resource Rent Tax that claimed significant political casualties under its former guise as the Resource Super Profits Tax. While it's impossible to separate politics and tax, advises Judith Freedman, a taxation law expert from Oxford University, an understanding of the risks of speeding through tax changes is critical. Better processes and institutions are required to educate politicians about taxation so they become alert to the dangers of kicking around tax policy as a vote-catching football, she suggests. ,taxation,carbon,mining,tax,politics,judith,freedman,oxford,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 18:21:36 -0800 273540C0-8A90-11E0-B0760050568336DC The Smart Phone Turn Off: When the Boss's Call is a Barbeque-stopper UNSWTV Managers are role models for smart phone use – and new research from the Australian School of Business shows always-on cultures are hampering productivity, effectively turning workers into "human pinballs" as they bounce from one distraction to the next with no time to think. Setting a poor example for technology use can send employees down the fast path to burnout, with ambitious staffers particularly at risk of over-engagement. While some individuals are turning off communication devices or leaving them in the office, switched-on organisations are pre-emptively tackling the issue. ,smart,phone,communication,always-on,workplace,culture,technology,over-engagement,knowledge,australian,school,business,asb,unsw Thu, 02 May 2019 15:16:58 -0800 76933F00-8A90-11E0-B0760050568336DC Water Footprints: Why Business Is Shunning the Wet Look UNSWTV Intense global focus on greenhouse gases and global warming has made most organisations conscious of the need to calculate carbon footprints. But as environmental pressures grow, further counting is required. To conserve "the world's most precious resource", organisations and individuals now must understand the water footprint of products or processes. Predictions of a worldwide water crisis have left scientists arguing over the right way to measure water use, while large progressive organisations have developed their own ad hoc approaches. With one international authority claiming it takes 140 litres of water to make a cup of coffee, it's certainly not time to relax. ,water,footprint,environment,environmental,crisis,usage,measurement,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 18:15:41 -0800 7184D7D0-8A90-11E0-B0760050568336DC Protecting Investors: A Perplexing Question of Balance UNSWTV A series of outstanding issues is yet to be addressed in Australia in the fallout from the global financial crisis. In the balance is the need to determine the right level of disclosure for financial products and whether tougher regulation is really necessary. Complicating decisions for policymakers is the huge gap in investor sophistication – where many have a deep understanding of risk and how markets work, while others have next to none. A national program to improve financial literacy offers one solution, suggest experts. But will that be enough? Increasing regulation may bring further complications as overprotecting investors could strangle innovation. ,investor,investment,regulation,risk,market,financial,literacy,products,disclosure,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 18:13:04 -0800 6C22F970-8A90-11E0-B0760050568336DC Career Midlife Crisis: Do You Really Want to Win the Rat Race? UNSWTV Often flippantly mentioned in relation to bad hairdos and convertible sports cars, the mid-life crisis is a serious issue. Not surprisingly, its symptomatic angst and sense of purposelessness often spills over into careers. Current research suggests career midlife meltdowns are occurring younger than ever thanks to higher expectations, more pervasive marketing and greater competition. Common triggers are poor job fit, being overlooked for a promotion or the realisation that it takes a rat to win the rat race. But, managed effectively, career midlife crises can have positive outcomes. ,midlife,crisis,career,angst,education,mba,knowledge,australian,school,business Mon, 30 May 2011 18:09:55 -0800 669D3F60-8A90-11E0-B0760050568336DC Infrastructure: Should Australia Lose the Levy and Get Innovative? UNSWTV In the wake of the devastating Queensland floods, the federal government may be missing a major innovation opportunity by opting to fund infrastructure through a one-off levy. Michael Sherris, a professor of actuarial studies at the Australian School of Business, believes there's a chance to address two pressing issues – the need for infrastructure and population ageing – with inflation-indexed longevity bonds. His controversial idea has investors considering the possibilities. While some argue longevity risk needs to be tackled separately, an international expert suggests the only practical way to deal with the risk of people living longer is to pool, tranche and securitise it. Is now the time? ,queensland,floods,infrastructure,levy,population,ageing,longevity,bonds,investment,risk,michael,sherris,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 18:07:11 -0800 60BD0940-8A90-11E0-B0760050568336DC Organisational Culture: Look Who's Misbehaving Now! UNSWTV Bending and breaking the rules has become an accepted part of business culture, with both bosses and employees guilty of misbehaving. As they strive to meet the challenges of high key performance indicators, executives and managers quite often push moral boundaries and encourage subordinates to do the same. Common employee misdemeanours start with petty pilfering or skiving off on the job and such behaviours can become work group norms. However, the repercussions of making them clean up their acts may be more costly than anticipated, suggests Stephen Ackroyd, co-author of the book, Organisational Misbehaviour and a professor of organisational analysis at Lancaster University Management School in the UK. ,organisation,organisational,culture,management,morality,ethics,stephen,ackroyd,misbehaviour,analysis,lancaster,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 18:03:28 -0800 8825ECC0-8A92-11E0-B0760050568336DC Selling Tip Top to China: Making Plans for Not Getting Toasted UNSWTV Australian fast-moving consumer goods company George Weston Foods launched its iconic bread brand, Tip Top, in a comparatively small market in China. The city of Wuhan has provided a location for learning before the company tackles the Tier 1 urban centres of Beijing, Shanghai and Guangzhou. Tastes for bread are sweeter in China and sandwiches are not on the menu – although in the presence of global fast food chains, such as McDonald’s, the market is rapidly changing. Companies that are keen to cash in on China’s vast retail markets tend to focus on the differences between Chinese consumers and their Western counterparts. But research shows that growing numbers of urban-dwelling, middle-income Chinese are sophisticated shoppers with some very familiar habits. ,george,weston,foods,tip,top,bread,china,wuhan,marketing,retail,consumers,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 18:00:11 -0800 78CD3E90-8A92-11E0-B0760050568336DC Wildlife Smuggling: Could Legalising Trade Stop a Jumbo-sized Problem? UNSWTV Illegal wildlife trafficking in South-East Asia is big business, estimated to be worth between US$10 billion and US$20 billion annually, making it the second-largest illicit market globally after drugs. Despite a regional clampdown on illicit trading, Australia's efforts to stop the smuggling of birds and reptiles in particular remain piecemeal. Authorities are seeking a nationally coordinated approach to investigations, regulation enforcement and an increased international focus. But a solution may be opening up legal exports of Australian wildlife, argue economists at the Australian School of Business. Legitimate wildlife trading may detract from "brag" value and cause prices to plummet. ,wildlife,trafficking,smuggling,illicit,trade,trading,legalisation,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 17:56:26 -0800 5B481810-8A90-11E0-B0760050568336DC Commuting: How Cars Are Guzzling Productivity UNSWTV That old success symbol, the company car, is increasingly being parked as new research shows commuters who drive to work are more stressed and less productive. Clever companies are providing employees with alternative transport options and information sources to encourage them to take their hands off the wheel on the way to and from the workplace. Experts say commuting distance is not so much the issue as the ease of the journey. And part of the solution is convincing senior executives to abandon the traffic gridlock and walk the walk – or at least to cycle or take the bus to work. ,car,automobile,commuting,commuters,transport,workplace,productivity,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 17:54:02 -0800 503F14F0-8A90-11E0-B0760050568336DC Welcome to the Machine: Computer Games That Care for You UNSWTV Artificial intelligence (AI) already offers customer service solutions to business and, with the help of the multi-billion dollar computer gaming industry, will be helping healthcare organisations to manage the physical fitness of ageing populations in the near future. Researchers are now improving on the techniques employed in existing computer games to develop home-use applications that can supervise movement. With high-speed data transmission, the next generation of healthcare providers may be virtual physiotherapists who guide patients through entertaining electronic rehabilitation "games" and send updates to their doctors. And that's just the beginning, says international AI expert, Lundy Lewis, a visiting professor at the University of New South Wales. Don't hit the pause button! Soon university students may be discussing their courses with virtual professors. ,artificial,intelligence,ai,customer,service,gaming,computer,games,healthcare,physiotherapy,population,ageing,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 17:51:38 -0800 4AA18D20-8A90-11E0-B0760050568336DC Food Security: What's Not Eating Australian Policymakers? UNSWTV Extreme weather in Australia has wiped out crops and sent the price of food soaring, heightening the issue of food security. In December 2010, global food prices hit an all-time high. Fears of a repeat of the 2008 food crisis have prompted many nations to take action. But in Australia food security rarely rates a mention suggesting policymakers may have stashed it in the "too-hard" folder. On the world's smallest continent, future food production is not only at risk from uncontrollable climactic events, but from decision-makers putting short-term concerns ahead of long-term sustainable interests, claim thought leaders. It's a complicated issue that's unlikely to be resolved with incremental change, they warn. ,food,security,prices,production,climate,change,sustainability,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 17:48:15 -0800 3E840CC0-8A90-11E0-B0760050568336DC Reinventing the Boss: Overcoming the Empathy By-Pass UNSWTV Business leaders may have started the New Year with good intentions and a list of resolutions to mend their ways, but do they have what it takes? The skills typically required to deliver the numbers and appease the board and shareholders are no longer enough. For long-term career success, senior executives require empathy to understand how to work with others. Developing neuroplasticity – the ability to tap into different parts of the brain – is helping top leaders to disconnect their hardwired behaviours and transform themselves and their organisations. It's no quick fix but it could be the key to reinventing the boss. ,leadership,senior,executive,ceo,neuroplasticity,empathy,knowledge,australain,school,business,asb,unsw,australian Mon, 30 May 2011 17:47:02 -0800 450DA240-8A90-11E0-B0760050568336DC People Management: How India Does It Better UNSWTV Many leading companies in India have achieved double-digit growth over the past two decades – and their robust results continued throughout the global financial crisis. Research suggests this may be due to Indian employers' superior human resources (HR) practices that avoid much of the short-sightedness embraced by Western capitalism. Indian executives focus on ensuring they bring together people management with business strategy and assiduously track HR performance within operations. But that's not all. The researchers believe their most telltale findings concern what the 100 Indian business leaders surveyed unerringly failed to mention. No one spoke of the need to cut costs although many are outsourcing key parts of their operations. ,human,resources,hr,india,management,strategy,outsourcing,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 17:30:55 -0800 E0C50E20-8A8C-11E0-B0760050568336DC Executive Stress: Is Your Boss Mad, Bad and Dangerous to Know? UNSWTV Calling the boss crazy – while unlikely to be a career-enhancing move – may be disturbingly close to the truth. New research into the emotional state of executives reveals they suffer far higher levels of mental instability than the general population. Largely to blame are the demands of high-stress roles that preclude corporate high fliers and professionals from being themselves. The upshot may be over-aggressive and other types of dysfunctional behaviour. News of the incidence of "toxic" bosses is now prompting questions about the abilities of executive coaches and leadership interventions for supporting senior staff when their behaviour has gone awry. ,executive,ceo,corporate,stress,psychology,anxiety,depression,psychosis,aggression,leadership,personality,toxic,workplace,mental,instability,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 17:28:23 -0800 809679A0-8A8A-11E0-A9830050568336DC Gadgets-to-go: Why Whittling E-waste is Becoming Big Business UNSWTV The latest gizmos are topping many Christmas lists. But what happens to the "old" computers, mobile phones and other devices that are superseded by the next new things? This issue has been high on environmentalists' agendas for years. And it's soon to become a hot topic for consumers and businesses in Australia as the government plans a stewardship program for the recycling of e-waste in 2011 that, inevitably, will add to the cost of these much-loved gadgets. Beyond the initial price tag, it's time to pay for the impact of digital devotion and for designers to factor in product obsolescence. However, e-waste also presents a new resource for those with bright ideas – and, ultimately, it will create new jobs for many. ,e-waste,computers,mobile,phone,environment,electronics,electronic,waste,recycling,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 17:22:59 -0800 BD5406D0-8A8C-11E0-B0760050568336DC Adaptive Leadership: Can the One-trick CEO Be Retrained? UNSWTV The inability or refusal to adapt is a career-limiting factor for leaders of all persuasions. When the financial crisis hit, prescient boards moved on "one-trick pony" chief executives who were considered not agile enough for the new straitened times. CEOs who cling to one style of leadership tend to exacerbate their own problems. They hear no evil because they avoid fearless feedback, preferring to surround themselves with "yes men" and women who often hitch a ride along to the boss's next gig. But rather than putting intransigent leaders out to pasture, boards might consider how to teach them new tricks. ,adapt,adaptation,ceo,chief,executive,leadership,education,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 17:20:03 -0800 07EEE9A0-8A8B-11E0-B0760050568336DC Winding Back the Stimulus: From Here to Austerity? UNSWTV Did Australia crow too soon about its economic resilience in the face of the global financial crisis? As the benefits of the A$42 billion economic stimulus package begin to fade, Australian consumers may not be as well off as their counterparts in other developed nations, while for business, there's a strong whiff of boom times back in the air. However, leading economists have mixed views on what happens next. Mon, 30 May 2011 16:43:50 -0800 115E7720-8A82-11E0-A9300050568336DC E-Books: Taking the Paper Out of Print? UNSWTV Waves of change are sweeping the Australian book industry thanks to the wider availability of e-book readers. A crystal ball would help, but even without the benefit of foresight, publishers and retailers say they are prepared for what's ahead. Indeed, new business models are emerging as major players look for a pay off from years of strategic planning. ,e-books,e-book,readers,publishing,books,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 16:41:22 -0800 1739F250-8A82-11E0-A9300050568336DC Stamping Out Insider Trading: Can Government Succeed Where Stock Markets Failed? UNSWTV Will a switch in regulators, and an increase in investigative powers and penalties stamp out insider trading on the Australian share market? Shifting from the largely self-regulated US model and toughening up the role of the Australian Securities and Investments Commission may help catch more covert traders. But don’t expect miracles. Some say insider trading will never be wiped out simply because human nature finds it hard to keep a secret – and to resist making a quick buck. ,insider,trading,regulation,regulators,share,market,ASIC,investment,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 16:39:04 -0800 1D288050-8A82-11E0-A9300050568336DC Salary Crunch: What is the Price of Wage Transparency? UNSWTV Whether or not wages should be kept confidential is a perennial hot topic. Even if an organisation keeps quiet about remuneration differences between staff, what people earn has an uncanny way of being revealed. And the likelihood is that employees with similar workplace responsibilities who are paid less than others will become de-motivated. A new study from the Australian School of Business finds that wage transparency can have negative effects on productivity and the quality of work. But experts say there are ways to manage this sensitive issue. ,salary,wages,wage,transparency,remuneration,productivity,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 16:36:55 -0800 22B08450-8A82-11E0-A9300050568336DC Electronic Medical Records: A Case of Better Healthcare or an Invasion of Privacy? UNSWTV Electronic medical records may save many lives and slash the cost of healthcare, but there's also a sinister risk that personal medical histories may land in the wrong hands. With the amended Healthcare Identifiers bills now passed by the Australian parliament, privacy advocates continue to air concerns, including their alarm at the suggestion that Google – already the subject of a Federal Police privacy investigation – could one day be the keeper of everyone's health info. Legal experts claim the new laws are fundamentally flawed. It's important to get the rules right first time, they say, because once the information escapes, there's no chance of a recall. ,electronic,medical,records,healthcare,privacy,identifiers,google,information,security,kowledge,australian,school,business,asb,unsw Mon, 30 May 2011 16:28:59 -0800 28684AE0-8A82-11E0-A9300050568336DC Director Education: Sending the Board Back to School UNSWTV Recent economic turmoil has presented a raft of new challenges for company directors, but research suggests those who sit at the top corporate decision-making tables are either too complacent or too busy to consider upskilling. A study shows 80% of companies don't budget for director education. But there's a compelling case for board members to maintain a focus on professional development, argues world leading boardroom researcher Andrew Kakabadse from the UK's Cranfield University. A new emphasis on risk and the vexing succession issues that emanate from the need for better skilled boards are just two reasons why even seasoned directors should consider going back to school. ,company,directors,director,boards,education,andrew,kakabadse,cranfield,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 16:27:04 -0800 2DCA2940-8A82-11E0-A9300050568336DC Strategic Shifts: Reinventing the Chief Financial Officer UNSWTV The role of the chief financial officer is changing, and it's not only due to increasing regulation and onerous responsibilities. Traditional accounting and compliance still holds an important place but the focus of chief financial officers is increasingly looking forward and business-wide. And in their closer working relationships with chief executives, the professionals who control companies' financial functions have acquired the power to transform a business. However, successfully stepping out of the backroom and into the limelight requires the co-operation of many. ,chief,financial,officer,cfo,accounting,compliance,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 16:25:02 -0800 3335A490-8A82-11E0-A9300050568336DC Creative Partnerships: The Future for Corporate Social Responsibility? UNSWTV Making a difference these days may mean more than writing a philanthropic cheque. The rules for corporate social responsibility (CSR) are being rewritten as big businesses look to using their core capabilities to address major social issues. Globally recognised names – including adidas, Danone and Intel – are already involved, thanks to keen urging from Grameen Bank founder Muhammad Yunus. Clearly, this latest model for social business is doing good. But, does it hold the potential for corporations to "greenwash" as they tick the CSR box? And, is that okay? ,corporate,social,responsibility,csr,partnerships,mohammad,yunus,grameen,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 16:22:48 -0800 387D4430-8A82-11E0-A9300050568336DC Change Management: How to Tame the Mature-Age Stampede? UNSWTV When a quarter of your workforce is heading for the door, it's time for some serious strategic thinking. One Australian organisation is tackling the outflow of thousands of mature-age workers by 2015 with a series of policy changes and initiatives that not only glean vital information for the employer, but also improve the prospects for wannabe retirees. However, a one-size-fits-all policy approach will not be effective in all cases, warn researchers from the Australian School of Business. And collecting data on the intentions of a growing number of mature-age workers and their effect on the workplace is proving complicated. ,workforce,employment,retirement,mature-age,workers,knowledge,australian,school,business,asb,unsw Wed, 01 May 2019 07:03:11 -0800 43A9FBF0-8A82-11E0-A9300050568336DC How WikiLeaks Highlights the e-Government Cyber Security Challenge UNSWTV Governments across the world are reviewing information technology protection strategies as more sensational insights in the latest WikiLeaks' scandal continue to be revealed. In 2010, the Australian government released a framework to establish an appropriate security culture in government agencies, and not before time. A recent study of a New South Wales' state government information systems initiative that ran for more than a decade exposes how major departments – often responsible for highly sensitive information – struggle to keep it under wraps. Security efforts were found to be under-resourced, poorly structured and patchy in the rollout. Australian School of Business researchers say there's plenty of room for improvement. ,wikileaks,security,information,technology,government,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 16:17:42 -0800 498CA310-8A82-11E0-A9300050568336DC Selective Marketing: When Is It Time to Sack Your Customers? UNSWTV Not every company welcomes all customers, regardless of spending power, social status, religion, race and political conviction. Inclusiveness is a cosy notion, but savvy marketers know that some customers are more equal than others. Those who are unprofitable or who are pains in the neck may need to be cast off. And there's a risk in customers who do not fit with a product's target market causing irreversible brand damage. According to marketing experts at the Australian School of Business, customer retention strategies essentially involve developing long-term, cost-effective links "for the mutual benefit of both parties". So exactly when is it time to say "goodbye"? ,marketing,customers,customer,retention,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 16:15:49 -0800 4EF33C60-8A82-11E0-A9300050568336DC Vapourware: Can You Believe the Hype About the Next New Thing? UNSWTV Announcing a product ahead of time is a popular way to gain competitive advantage and potentially to spoil rival companies' sales. It's a practice that's not limited to the technology industry where wannabe hardware and software has become so prevalent it has been aptly labelled "vapourware". Some prematurely announced products never make it to market or are delivered late, leaving consumers incredulous or frustrated. But vapourware is not all bad, argues Jay Pil Choi, a professor of economics at the Australian School of Business. Besides, with the threat of reputational damage, over-eager corporations need to be sure to deliver the goods. ,vapourware,vaporware,product,marketing,competition,jay,pil,choi,economics,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 16:12:33 -0800 5484DD50-8A82-11E0-A9300050568336DC Selling Off Australia: Where Food Security Hits the Hotplate UNSWTV Foreign investors' interests in Australia's arable land and water resources are making many nervous. Certainly, Australia needs capital investment but with food security growing as a major global issue, is it wise for a nation to be selling up its productive, wide-open spaces? Expert opinions are polarised. Some are calling for emergency action to address food security concerns now, including a register of resources, while others expect market forces will take care of the problem. By welcoming foreign investors, Australia is simply actively participating in the global economy, they say. Who's right and who's wrong? On this big issue, can Australia afford to wait to find out? ,food,security,foreign,investment,land,water,resources,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 16:10:04 -0800 5C0FDD40-8A82-11E0-A9300050568336DC Securitisation: How Innovation is Leading the Revival UNSWTV The securitisation market all but came to a halt in the global financial crisis. Following the US sub-prime meltdown, residential mortgage-backed securities (RMBS) were on the nose for investors who considered them opaque and high-risk, with some insisting they should be banned. One of the problems was how RMBS risks were rated, being based on defaults in the underlying investments, rather than the volatility of the market. But the shock of the crisis not only raised questions, it kicked off innovation. With a securitisation revival underway, it seems reports of its death were greatly exaggerated. ,securitisation,securitised,gfc,global,financial,crisis,rmbs,investment,sub-prime,mortgage,knowledge,australian,school,business,asb,unsw Mon, 30 May 2011 16:08:29 -0800 650EB880-8A82-11E0-A9300050568336DC Hands-Off Management: The New Rules for Collaboration At Work UNSWTV Social media and its collaborative potential are revolutionising the old rules of business. Customers are no longer on the outside looking in, but are part of the business, and the Internet is just one big focus group. The upsides and downsides of viral word-of-mouth go without saying. Markets, managerial hierarchies and intellectual property rights are also reconfiguring, as controlling managers find themselves in a no-go zone. Whatever next? Responsibility for Internet strategy needs to move from the marketing division to core business, insist the experts. ,social,media,internet,viral,marketing,open,source,strategy,knowledge,auistralian,school,business,asb,unsw,australian Wed, 25 May 2011 13:53:26 -0800 231D0610-8682-11E0-91B70050568336DC Exchange Rates: The Long View on High Times May Not Be So Awesome UNSWTV The Australian dollar's seemingly inexorable rise – with predictions that the exchange rate may tip US$1.50 before Christmas – is being reported by the media with awe. Internet shoppers and offshore holidaymakers are revelling in the disparity. But economists take a more tempered view of the big bucks high that's powered by the commodities boom. In the long term, the floating dollar may present risks to other parts of the economy and dampen innovation, they say. And there's the threat of inflation. James Morley, a professor of economics at the Australian School of Business, weighs up the likely impact of the dollar's 30-year high. ,dollar,exchange,rate,float,economy,inflation,economics,james,morley,knowledge,australian,school,business,asb,unsw Tue, 24 May 2011 17:10:38 -0800 9BB774C0-85D3-11E0-8BD10050568336DC All Together Now: How Co-operatives Are Born Again as Communities Help Themselves UNSWTV Spurred on by tough financial times, co-operatives are re-emerging in Australia as viable, progressive businesses. Country-wide, co-ops have saved "essential" community services and meeting places from the local store or pub to hardware suppliers, bakeries, cinemas and caravan parks. Recent start-ups include a wind farm and a medical centre. The co-op renaissance combines commercial aspirations and social purpose in a thoroughly sustainable 21st century business model as communities work to meet their own needs through social enterprise. What's not to like? Outdated legislation and lousy funding opportunities. So, will the focus from the International Year of Co-operatives in 2012 change all that? ,co-operatives,co-ops,co-op,mutual,knowledge,australian,school,business,asb,unsw Tue, 24 May 2011 17:07:48 -0800 9E2F2B80-85D3-11E0-8BD10050568336DC Federal Budget Review: Is This the Void We Had to Have? UNSWTV When the federal budget was released, the initial surprise was that it contained none. However, controversy has emerged around new rules for fringe benefits, income splitting, and means testing of the health insurance rebate. Small business also was left hanging for long-awaited changes. With a debt to reign in, the government instead focussed more on issues of governance, compliance and regulation – and, effectively, put the charity and financial planning sectors on notice. Tax experts Dale Boccabella and Neil Warren, professors at the Australian School of Business, consider the upshot. ,australia,federal,budget,2011,tax,taxation,dale,boccabella,neil,warren,knowledge,australian,school,business,asb,unsw Tue, 24 May 2011 17:05:31 -0800 B3E8D890-85D3-11E0-8BD10050568336DC Knowledge@ASB - Ratings Agencies: Is There a Better Way? UNSWTV The big three credit rating agencies' role in the global financial crisis has made them the focus of regulators and investors worldwide. The quest is on to find a ratings model that works, because a conflict of interest may exist when the issuer of a financial product foots the bill for a rating. Making investment advisers or pension funds – rather than the vendor of the product – pay for ratings is a smart solution, says global governance expert Ronald Masulis, a professor at the Australian School of Business. Others prefer a performance-based model in which investors effectively rate the raters. But, with the debt-raising capacity of companies and governments dependant on ratings, industry insiders insist the main game now should be restoring the agencies' credibility. ,credit,ratings,agencies,Ronald,Masulis,Knowledge@Australian School of Business, Australian School of Business,UNSW Mon, 23 May 2011 10:37:10 -0800 550942D0-8EFB-11DF-88950050568336DC Knowledge@ASB - Foreign Investment: Is Australia's Tax Appeal for Private Equity Players Now Under Threat? UNSWTV The deep uncertainty for foreign investors in Australia following the federal government's announcement of the resources super profits tax is potentially harming the nation's reputation as a premier investment destination. Now fuelling concerns is the deferral of a final ruling on the tax treatment of foreign private equity profits. Will this also threaten Australia's appeal to offshore investors? The taxation of private equity has long been a controversial topic around the world. And offshore private equity players are keenly focused on what happens next. ,Australian School of Business,equity,private,tax,foreign,investment,offshore,knowledge,australian,school,business,asb,unsw Mon, 23 May 2011 10:36:33 -0800 30737E60-7A72-11DF-9E250050568336DC Knowledge@ASB - Retirement Investment: Gambling on a Future UNSWTV For a nation of gamblers with high exposure to the stock market, the risks surrounding retirement investment decisions are rife. According to the Organisation for Economic Co-operation and Development (OECD), Australians are the most aggressive investors in the world, but the biggest threat to their retirement savings is more than behavioural. It’s in the structure of the existing superannuation system that places risk firmly in the hands of the retirement saver. Suggested alternatives, however, may also inhibit wealth building. ,retirement,investment,savings,superannuation,knowledge,australian,school,business,asb,unsw Mon, 23 May 2011 10:34:25 -0800 74DBF790-57EE-11DF-AC4A0050568336DC Knowledge@ASB - Overhauling Australia's Tax System: A View From the Inside UNSWTV Treasury boss Ken Henry's review of Australia's tax system has finally been published. This reform of Australia’s taxation system offers a once in a lifetime chance to look at the country’s tax system from scratch. Professor John Piggott, who was a member of the Henry tax review panel, spoke to Julian Lorkin at Knowledge@Australian School of Business about the decisions the panel reached. ,ken,henry,tax,review,australia,john,piggott,knowledge,australian,school,business,asb,unsw Fri, 13 May 2011 11:25:49 -0800 AD77A900-7CFF-11E0-8BD10050568336DC Knowledge@ASB - Post-Crisis Ethics: Shifting Mindsets or Business as Usual? UNSWTV Debate continues over the cause of the global financial crisis. Was it a failure of corporate ethics or a lack of regulation and risk management? Either way, business ethicists argue an adjustment of the collective corporate moral compass is required because increasing regulation is unlikely to deliver the right sort of change. The result may be just another breed of compliance experts, they say. And ultimately, organisations and governments might miss the opportunity to probe deeper issues on the role of financial markets, corporations and the privilege of limited liability. ,business,ethics,Business Schools,tracy,wilcox,Global Financial Crisis Thu, 12 May 2011 11:43:22 -0800 FA10ED50-6DD1-11DF-B2950050568336DC Knowledge@ASB - Executive Remuneration: What's the Boss Worth? UNSWTV The debate over the structure and scale of executive remuneration continues to rage in the aftermath of the global financial crisis. The fine focus is on exactly what is measured and rewarded. Is there a right way to match executive pay with performance? How can boards ensure senior executives promote the long-term interests of companies and create wealth for their owners? While it’s become clear one method for calculating executive pay won’t suit all, the potency of non-monetary rewards is increasingly being considered. ,executive,remuneration,ceo,pay,shareholders,gfc,knowledge,australian,school,business,asb,unsw Thu, 12 May 2011 11:40:34 -0800 9E7F73D0-69EE-11DF-98D10050568336DC Women and Leadership: Putting Unconscious Bias Top of Mind UNSWTV Many managers are ill-prepared to tackle gender bias in organisations. However, change is afoot with reforms to the Equal Opportunity for Women in the Workplace Act demanding organisations address inequitable pay and deliver tangible equality outcomes, with the first reports to be signed off by CEOs in 2013. But will the new legislation tackle the underlying cause of women's glacial rise into senior roles in Australian corporations? Progressive organisations and educational programs are now digging deep to uncover and remove the real impediments – unconscious biases. Everyone has them. They're just not top of mind. Greater awareness all-round is required for women to take the lead. ,women,gender,bias,human,resources,hr,equal,opportunity,leadership,knowledge,australian,school,business,asb,unsw Thu, 12 May 2011 10:16:55 -0800 CAB8D170-7C2C-11E0-8BD10050568336DC Carbon Pricing: The Real Dirt on Tax Vs. Permits UNSWTV The purpose of putting a price on carbon is to force polluters to change their dirty ways, but the federal government's plan to delay an emissions trading scheme (ETS) in favour of a carbon tax ultimately may be more detrimental for the environment. Price volatility under an ETS is inducing fear among heavy emitters. However, uncertainty over carbon pricing is also the key driver for power plant owners to invest in cleaner technology, new research from the Australian School of Business reveals. And, while policymakers' intention of dampening volatility with an upfront tax seems more assuring, there may be a catch – it looks likely to be more punitive for big polluters.  ,carbon,tax,emissions,trading,sceme,ets,cprs,julia,gillard,knowledge,australian,school,business,asb,unsw,scheme Tue, 10 May 2011 18:22:47 -0800 5735B1E0-7ADE-11E0-8BD10050568336DC Knowledge@ASB - Leave Up Your Sleeve: Productive or Destructive? UNSWTV Australian employers owe their staff an astounding 123 million days off. Statistics show one in four full-time workers stockpile annual leave. Why? Some avoid taking time out because they abhor the build-up of work around the break, while others save up their leave as an income protection policy. And there are always the "indispensible" workplace martyrs. Whatever the reasons, the impact of such behaviour is an all-round negative – for staff, employers and productivity. Maybe it's time to take a break. ,Annual,Leave,Knowledge@Australian School of Business, Australian School of Business,UNSW Thu, 28 Apr 2011 12:15:56 -0800 5287EF20-8EFB-11DF-88950050568336DC The Next Revolution: What Happens When the Internet Runs Out of Space? UNSWTV In July 2011, the unthinkable will happen – the worldwide web will start to run out of room. Plans are underway for the move to a new system, known as IPv6, that will not only hugely increase capacity – to an amazing 340 billion billion billion Internet Protocol (IP) addresses – but enable a multitude of objects to communicate via the net. This promises to be a boon to business, offering limitless opportunities for visionary entrepreneurs and smart managers. But first, they must switch systems and for some organisations it will be complicated. IT giant Microsoft has pre-empted potential difficulties by buying up a swag of old IP addresses. So how can other businesses prepare for the next brave new Internet world? ,IP,IPv4,IPv6,Internet,Protocol,Web,Website,Address,Knowledge,Australian,School,Business,ASB,UNSW Thu, 28 Apr 2011 12:02:50 -0800 5C48EB40-5BF6-11E0-955F0050568336DC Remuneration Packages: Are New Rules for Executives Really Necessary? UNSWTV Executive remuneration is a hot topic worldwide and, in comparison with the UK and US, the way Australia pays its big bosses is quite restrained. Proposed new legislation before federal parliament aims to improve accountability for director and executive remuneration, increase transparency and eliminate conflicts of interest. But some experts claim it's "bureaucracy gone mad". Others hope fine-tuning the rules will make executive pay structures easier to understand and further empower shareholders. Ultimately, some suggest those most affected are likely to be remuneration consultants, rather than companies and their well-rewarded decision-makers. ,executive,remuneration,ceo,aicd,asa,knowledge,australian,school,business,asb,unsw Thu, 28 Apr 2011 12:02:18 -0800 7C842680-5BF7-11E0-955F0050568336DC Resources Contracts: Mining for Profits After Force Majeure UNSWTV Has the Queensland flood catastrophe handed resources companies a welcome advantage? "Force majeure" – a legal let-out clause that allows sales contracts to be suspended or cancelled without penalty under extreme circumstances – is now urgently up for review. More than a handful of major coal producers declared force majeure when the floods hit. With commodity prices skyrocketing, companies have discovered they can make more by selling coal on the spot market than under pre-existing arrangements. As a result several are reportedly renegotiating contractual terms. Lawyers say force majeure is often overlooked. And, as extreme weather events are arguably becoming predictable, the climate for these legal clauses is also changing. ,force,majeure,flood,commodities,resources,mining,knowledge,australian,school,business,asb,unsw Thu, 28 Apr 2011 12:01:50 -0800 E1E57A70-5BF6-11E0-955F0050568336DC Crisis, Contagion and Bailouts: What's Next for the European Union? UNSWTV In the run-up to last week's announcement of the European Union's trillion dollar stabilization plan, Wharton management professors Mauro Guillén and Saikat Chaudhuri, and Jean Salmona, founder and chairman of the editorial board of ParisTech Review, participated in an interview with Knowledge@Wharton on likely outcomes from the financial crisis facing Greece, some of its sister countries and the European Monetary Union more generally. How did events spin so out of control? How will the politics of the crisis affect the Eurozone's economic performance? Guillén, Chaudhuri and Salmona addressed these and other questions on May 7, just before the huge financial support package was announced. ,Australian School of Business,Business Schools,Global Financial Crisis,money Thu, 28 Apr 2011 11:59:54 -0800 23D40A80-66EF-11DF-A6300050568336DC Online Networking: How LinkedIn Is Facing Off with Facebook UNSWTV One online business networking site is outstripping its rivals. Not all businesses and professionals find Facebook's "white noise" and Twitter's brevity useful – but a new business person signs up to LinkedIn every second of every day, making its potential viral impact phenomenal. Some simply post résumés or "hang out" with clients, while others are digging deeper in discussion groups. Like all web-based networking, the site presents risks for users who may accidentally tip off the competition about new projects. Spammers also love it. But LinkedIn aficionados just keep on making new connections. Here's how. ,LinkedIn,Facebook,online,networking,social,media,knowledge,australian,school,business,asb,unsw Thu, 28 Apr 2011 11:32:13 -0800 596E2C00-7136-11E0-A7500050568336DC International Investment: Is There Value in Overcoming Home Bias? UNSWTV On average Australians invest 80% of their money locally and 20% with overseas companies. This home bias has brought higher returns than investing in international shares over 20 years. Yet there's a price – it costs 1.74% more to attract capital for Australian business because it's seen as small and risky. This premium is a drag on economic development that can be overcome through more widespread investment in foreign markets, argues Bohui Zhang, a researcher in international corporate finance at the Australian School of Business. While applying standard investment "diversification" rules to sinking money into offshore markets definitely increases opportunities, other experts warn it also means sharing the risks. ,international,investment,home,bias,shares,capital,foreign,corporate,finance,bohui,zhang,knowledge,australian,school,business,asb,unsw Thu, 28 Apr 2011 11:29:43 -0800 4CBCF720-7136-11E0-A7500050568336DC CSR Accountability: Do Codes of Conduct Stop Suppliers from Dragging the Chain? UNSWTV Many big name corporations boast codes of conduct to ensure suppliers are responsible in environmental and workplace standards. Sounds promising, but how accountable are they? It's not hard for an unscrupulous contractor to pull the wool over a corporation's eyes. The Fair Labour Association finds an average 17 violations every time it conducts an audit, and many problems are recurring due to commercial pressures in supply chains. These days those who claim it's not possible to compete cost-wise and prioritise workplace human rights can look to China to see that raising standards and competitiveness are not mutually exclusive. ,corporate,social,responsibility,supply,chain,environment,workplace,standards,fair,labour,human,rights,china,knowledge,australian,school,business,asb,unsw Thu, 28 Apr 2011 11:19:21 -0800 47C12A60-7132-11E0-A7500050568336DC Email Stress: Managing the Tyranny of Inbox Overload UNSWTV Information rage and email stress are symptoms of an overfilled inbox. With the average corporate employee receiving more than 100 emails a day, there's a pressing need to learn ways to manage email efficiently. In the battle to quell inbox insurgence, companies are introducing email-free days, audits and training courses. Problems exist both with senders and receivers. It's been assumed that, because we all use email, we know what we're doing, says Richard Vidgen, head of Information Systems at the Australian School of Business. While a big picture solution lies with organisations, role-modelling good email behaviour also helps. ,email,information,rage,systems,richard,vidgen,knowledge,australian,school,business,asb,unsw Thu, 28 Apr 2011 11:17:15 -0800 513BEC60-7132-11E0-A7500050568336DC Milking the Market: What's Behind the Coles-Woolworths Price War? UNSWTV For supermarkets Coles and Woolworths, milk became the first weapon of choice in their rampant discounting war because consumers are emotionally attached to it. The battle for the hearts and dollars of Australian consumers has distressed the dairy industry, threatened small shopkeepers and prompted a Senate inquiry. It also has revealed the major supermarkets' brand power and, consumer advocates warn, their competitive bravado may have a serious kickback in shoppers' hip pockets. While all eyes are on the two protagonists' next moves, Australian School of Business marketing professor Paul Patterson suggests they are looking out for fresh competitors. ,coles,woolworths,milk,dairy,discount,price,war,supermarket,marketing,paul,patterson,knowledge,australian,school,business,asb,unsw Thu, 28 Apr 2011 11:14:59 -0800 57176790-7132-11E0-A7500050568336DC Recruiting for Service: The Cost of Putting on a Happy Face UNSWTV The perpetual need to wear a happy face at work can lead to high stress and eventual burnout, particularly for those who wrangle irate customers and distressed patients. Giving service staff support and permission to vent about the frustrations of the job is one way to keep stress under control. Time out for just a few minutes may do the trick. But some personality types are better than others at dealing with cantankerous customers. Research from the Australian School of Business shows recruiting emotionally intelligent frontline staff may offer a better long-term solution for everyone, including narky customers who are on the alert for emotional authenticity. ,service,industry,stress,burnout,customer,human,resources,recruitment,markus,groth,knowledge,australian,school,business,asb,unsw Thu, 28 Apr 2011 11:12:46 -0800 5CFA0EB0-7132-11E0-A7500050568336DC Zoning Out: How Debt Is Fracturing European Unity UNSWTV Solutions to the European debt crisis were never expected to be set-and-forget. Now Ireland has its hand out for 24 billion euros to keep its banking system afloat. Portugal also wants a bailout, while Spain's economy is unravelling. Greece continues to struggle with the confines of its new austerity. There's a rise of nationalism among some members of the European Union and speculation is mounting that some may opt out of the eurozone altogether. But for a deeply indebted nation, such as Greece, switching currencies again is irrational. Defaulting may present a better option, says Wolfgang Buehler, a professor of Finance at the Australian School of Business. ,euro,europe,debt,financial,crisis,portugal,ireland,spain,greece,european,union,eurozone,finance,wolfgang,buehler,knowledge,australian,school,business,asb,unsw Thu, 28 Apr 2011 11:09:45 -0800 65901600-7132-11E0-A7500050568336DC Effective Leadership: What's Wrong with Narcissism? UNSWTV Many of the world's great leaders are narcissists. Self-belief, ambition and energy drive their pioneering creative spirits and often this has a positive effect on business. Why is narcissism such a dirty word, then? Because its flipside can be collateral damage as it impacts on staff, and promotes risky, illegal or immoral behaviour and greed. An egotistical leader may suffer as well, as he or she loses a sense of self. Psychologists say the root cause of the disorder is found in childhood. Coincidentally, even Sigmund Freud, the father of psychoanalysis, was a case in point. How can the advantages of narcissism be harnessed and the destructive consequences avoided? ,leadership,narcissism,psychology,childhood,ceo,knowledge,australian,school,business,asb,unsw Thu, 28 Apr 2011 11:07:11 -0800 6B029630-7132-11E0-A7500050568336DC Social Intrapreneurs: How Corporate Provocateurs Can Change the World UNSWTV Social intrapreneurs start initiatives inside companies that have far-reaching benefits, both for the employer and the wider community. While some enlightened bosses empower these entrepreneurial altruists and reap profits and kudos as a result, others regard the corporate innovators with indifference or hostility. A new study looks at the motivators for social intrapreneurship across the world. What inspires bold individuals to step beyond traditional corporate boundaries and how do they achieve cut-through? What makes a corporation see sense in these provocateurs' socially advantageous notions? Tone at the top and talent programs are key. ,social,intrapreneur,entrepreneur,innovation,corporate,impact,knowledge,australian,school,business,asb,unsw Thu, 28 Apr 2011 11:05:17 -0800 70B7EBC0-7132-11E0-A7500050568336DC Gender Differences: Finding the Measure for Multitasking Talent UNSWTV Multitasking is the order of the day in 21st century households because parents are most likely to care for kids while trying to stay on top of domestic duties. New research from the Australian School of Business on productive time use shows that women are more adept at juggling childcare with housework than men. The dishwasher, the microwave and other labour-saving devices also get credit for the kids' excellent school grades. Is this a plot to put women back in the kitchen? Definitely not! As further research spotlights the economic value of productivity and explores how women's talents translate to the workplace, their multifaceted abilities may also offer a measurable bonus for business. ,multitasking,gender,knowledge,australian,school,business,asb,unsw Thu, 28 Apr 2011 11:02:16 -0800 76092850-7132-11E0-A7500050568336DC Knowledge@ASB: Cross-Generational Workforce UNSWTV Finding ways to integrate older and younger employees in a workforce is a pressing issue that’s confounding companies globally. Strategies to keep mature-age employees working longer have focused mainly on the need for flexible working conditions. But fast-thinking corporates are changing their approaches, with cross-generational initiatives – such as “reverse mentoring” where younger workers teach older colleagues new tricks – now gaining traction. Wed, 14 Jul 2010 16:12:49 -0800 A63FD110-69ED-11DF-98D10050568336DC Knowledge@ASB: Green Accounting UNSWTV Reliable carbon emission reports will soon be as vital for organisations as sound financial reports. Consequently, the quest to set a universal standard has been engaging the international accounting, assurance and business communities. Pending the agreement of regulators across the world, a new set of standards may apply before the end of 2010. Organisations that move early in gathering technical know-how and upgrading skills will save on compliance costs, experts say. Wed, 14 Jul 2010 16:12:12 -0800 72155D80-57EE-11DF-AC4A0050568336DC Knowledge@ASB: Workforce Flexibility UNSWTV The global financial crisis delivered new opportunities to re-engineer the workforce with an increased focus on flexibility for both employers and employees. But dangers lurk in the short-term cost-cutting approach embraced by many organisations. The arrangements – and, in some cases, the companies – may not be sustainable. There’s a fine line between organisational agility achieved by varying head counts, and having the right in-house talent and capabilities. Employers need workforce models that can be scaled quickly to meet business demands. Wed, 01 May 2019 07:02:55 -0800 F0E49770-57EE-11DF-AC4A0050568336DC Knowledge@ASB: Pushing the Hot Buttons UNSWTV Accounting may have a staid image, but a new study from the Australian School of Business shows financial figures have a hidden power that charges creativity and engages emotions. Numbers can be seductive, spurring people into taking actions that may spectacularly affect business outcomes. Invoking the power of numbers, however, is about far more than simply setting a large growth target for staff. It’s about engaging people by asking what’s possible – and then listening to their answers.  accounting,finance Wed, 14 Jul 2010 16:10:36 -0800 FC4D21B0-6DD1-11DF-B2950050568336DC Knowledge@ASB: Trading Places UNSWTV As Chi-X gets the nod to compete with the Australian Securities Exchange, market players are left wondering what to make of the talk of fear and loathing surrounding the introduction of alternative trading platforms. In other parts of the world, high-frequency competitive exchanges have delivered greater liquidity, increased trading volumes and decreased volatility. Of course, having the right regulations in place is important. Now many participants have started asking: "What’s not to like?” Wed, 14 Jul 2010 16:10:13 -0800 A5300EC0-69ED-11DF-98D10050568336DC Knowledge@ASB: E-tail Evolution UNSWTV The e-tail market experienced outstanding growth as the economic downturn – and related media coverage – drove people online looking for bargains. Now signs of stability are showing in Internet markets. And the next few years will be critical for sorting out the real players in the e-tail space, leaving traditional bricks and mortar retailers potentially lagging further behind. But established e-tailers should also brace for unsettling times as big brand retailers surge into online territory. Wed, 14 Jul 2010 16:09:39 -0800 9D38C300-69EE-11DF-98D10050568336DC Knowledge@ASB: Flying High UNSWTV Queues for discount airfares just keep growing. More than half of Australian air travellers now choose low-cost carriers. But passenger complaints about budget airlines’ services have also been hitting new highs. Rapid growth may underpin poor customer service, says Australian School of Business marketing professor Murali Chandrashekaran. Part of the problem is that cut-price airlines are now catering to such a wide range of customers. And, despite the carriers’ increasing popularity, they can’t afford to sit back and relax. Wed, 14 Jul 2010 16:09:22 -0800 9F61E490-69EE-11DF-98D10050568336DC Knowledge@ASB: Director Accountability UNSWTV As shareholders and others have been asking loudly whether company boards are up to the task, directors have been contemplating whether the job is worth the risk. At state and territory level in Australia, directors face 663 pieces of legislation imposing personal liability. And a survey has found this is making it harder to attract and retain good directors. So, is the answer in less regulation or more education for the top decision-makers in Australia’s corporations – or maybe both? Wed, 14 Jul 2010 16:08:58 -0800 9C5B0D30-69EE-11DF-98D10050568336DC Knowledge@ASB: Mining Super Profits Tax and Sovereign Risk UNSWTV In their battle against the proposed resources super profits tax, global mining companies are claiming Australia has presented them with a potentially deal-breaking sovereign risk issue that threatens future investment decisions. The wider impact of the tax for foreign investors may be a residual uncertainty over future government actions. Offshore investors may be spooked by the arbitrary nature of the tax grab, but the link between the super profits tax and real sovereign risk is remote, says Peter Swan, an economist at the Australian School of Business, in an interview with Julian Lorkin for Knowledge@Australian School of Business. What's really needed is a rethink of the tax. Wed, 14 Jul 2010 16:08:43 -0800 FDD8CAC0-6DD1-11DF-B2950050568336DC Knowledge@ASB: Housing Prices UNSWTV Interest rates in Australia may be on hold for the time being, but that may not make those with a hefty home loan sleep any easier, thanks to talk of a bubble in the Australian housing market. One estimate is that residential property may be overvalued by as much as 50%, a figure which has made home owners, prospective buyers and investors understandably nervous. And there are signs that some of the drivers of housing demand may be hitting reverse. Among them are changes in the rules preventing some foreign investors from investing in residential property. Julian Lorkin of Knowledge@Australian School of Business asks Glenn Otto, a professor of Economics at the Australian School of Business, for his analysis. housing,metropolitan,sydney Wed, 14 Jul 2010 16:08:15 -0800 FB4E0130-6DD1-11DF-B2950050568336DC Knowledge@ASB: Corporate Co-Dependency UNSWTV Do management consultants have a stranglehold on corporate strategy? Some chief executives and boards may be too reliant on consultants to provide advice at the expense of developing skills within their senior management teams. Alarm bells should ring when the outsiders start calling the shots in companies or when high-potential managers see career opportunities effectively outsourced to a consultant. However, serious risks also exist on the other side of the relationship, warns Graham Bradley, president of the Business Council of Australia. Consultants who become rusted onto management are not only in danger of becoming overly dependent on one income stream, but may one day find themselves dismissed as an overhead. corporate,Consultant,Management,development Wed, 14 Jul 2010 16:07:41 -0800 2F3D9670-7A72-11DF-9E250050568336DC Knowledge@ASB: Executive Education UNSWTV Crisis management, business ethics, sustainability and cross-cultural operations are hot executive education topics in the wake of the global financial meltdown. The development needs of corporate leaders across the world look different in 2010. Clear trends were identified when Frank Horwitz, director of the Cranfield School of Management in the UK, met Alec Cameron, dean of the Australian School of Business, to explore how learning programs are shifting the mindsets of today's executives in an interview for Knowledge@Australian School of Business. education,Australian School of Business,Business Schools,AGSM Australian School of Business MBA,Executive Wed, 14 Jul 2010 16:07:21 -0800 1EA0A870-7A72-11DF-9E250050568336DC Knowledge@ASB: Riding the Tourism Waves UNSWTV As the varying approaches of recent marketing campaigns suggest, Australia’s tourism industry is on a perpetual search for its true identity, slewing between attracting the "platinum" big spenders and the more skint but eager backpackers. The industry fared comparatively well in the economic downturn, and looks set to take off again as more international travellers shift their destination preferences to East Asia and the Pacific. But Australia may have another identity in the mix as it competes for tourist dollars. It’s a natural to pick up on the global trend towards more sustainable tourism – but there is a catch. tourism,business,Dwyer,Larry,Australia Wed, 14 Jul 2010 16:07:03 -0800 43C679C0-7A74-11DF-9E250050568336DC Knowledge@ASB: Ambidexterity UNSWTV That familiar question - “Do you want fries with that?” - was a precursor to a global trend. Now many organisations across sectors are seeking to boost revenue by pushing their service staff into selling. But new research from the Australian School of Business shows that this “ambidexterity” does not come naturally and must be carefully planned and executed to avoid fall-out from staff and customers. Wed, 14 Jul 2010 16:06:51 -0800 96178140-57EE-11DF-AC4A0050568336DC Knowledge@ASB: Organisational Failure UNSWTV Catastrophic business collapses may hog the headlines but more commonplace organisational glitches are usually ignored or glossed over. That's because failure always gets a bad rap. But this approach is unbalanced, argues Gavin Schwarz, a lecturer at the Australian School of Business. Inevitably, the business life cycle includes "sickness", typically brought on by bad corporate decisions and mismanagement. And quite often people choose to fail as they try to unravel change. Then they rationalise their actions and, oddly enough, cast them in a positive light. The process may not be avoidable – or even acceptable – but at least it can be understood. Australian School of Business,organisations Wed, 14 Jul 2010 16:06:13 -0800 003D7D90-84AE-11DF-8BFC0050568336DC Knowledge@ASB: Small Business Reforms UNSWTV Have the employers of half of the Australian workforce been short-changed in the recent round of reforms? Two-thirds of small businesses will not even qualify for lower company tax rates. What has been offered to the nation's 2.4 million small businesses in the wake of the Henry tax review is too little and too late, they say. However, it's not all bad, according to experts. The new rules do trim a little red tape and improve cash flow for some small employers. But they want more. Australian School of Business,tax Wed, 14 Jul 2010 16:05:43 -0800 0194A920-84AE-11DF-8BFC0050568336DC Knowledge@ASB: Gender Mender UNSWTV Australia's first female prime minister Julia Gillard may not have set out to crash her "head on any glass ceilings", as she told the media immediately after being elected leader. But the historic moment when Australia's first woman governor general, Quentin Bryce, swore Gillard into office on 24 June was viewed as an iconic breakthrough in gender equality. In the corporate world, Australia has a "dire" track record for putting women into top jobs, according to sex discrimination commissioner Elizabeth Broderick. However, signs of change are clearly afoot. Programs aimed at promoting women into senior roles in corporations recently have found the support of some big business heavy hitters. And the first half of 2010 has delivered a shift in the number of women on Australian boards, creating high hopes that women in senior roles may finally be getting even. government,Australian School of Business,Julia Gillard,minister for women,Gender,Equality Wed, 14 Jul 2010 16:04:51 -0800 02B07960-84AE-11DF-8BFC0050568336DC Knowledge@ASB: Risk and Reward UNSWTV An ambiguous relationship has evolved between the public and the third sector as increasingly not-for-profit organisations have been handed responsibility for delivering government services. Some not-for-profits may be at risk of "mission drift" and losing sight of their goals. While new policy directions in the National Compact with the third sector are designed to clarify and improve the collaboration, the emphasis must be on outcomes and not just rhetoric, insists Peter Shergold, head of the Centre for Social Impact. Australian School of Business,Centre for Social Impact Australian School of Buisiness Peter Shergold CSI ,government Wed, 14 Jul 2010 16:04:25 -0800 03AAB7E0-84AE-11DF-8BFC0050568336DC Knowledge@ASB: Banish the Buzzword UNSWTV Innovation is in the strategy – or on the wish list – of almost every leading organisation. It seems everyone wants to innovate but few understand how to do it. For big business, it means demolishing silos to ensure the people with great ideas bump into each other – and accepting that not all the smart people work for your company. Some global organisations have overcome the threats to innovation posed by organisational structure and corporate culture and turned them into opportunities. Here’s how. Wed, 14 Jul 2010 16:01:44 -0800 978DF4A0-57EE-11DF-AC4A0050568336DC Knowledge@ASB: Deep Impact UNSWTV As social entrepreneurship takes off, its benefits are being enjoyed not just by the community, but also by big corporations as they increasingly hitch social responsibility agendas and dollars to innovative, sustainable social enterprises. It’s about more than “feel-good time” though. A contentious issue for social ventures, their corporate partners and government is how to monitor and measure value in a traditional business sense. Key performance indicators and social return on investment (SROI) are being applied, but the question remains: is this focus too narrow to evaluate a social venture’s real impact?  Wed, 14 Jul 2010 16:01:29 -0800 9A298710-57EE-11DF-AC4A0050568336DC Knowledge@ASB: Financial Literacy UNSWTV Financial literacy is being taught in schools, but what about the generations that missed out on an education in how to save, accumulate wealth and avoid debt? For many adults, a focus on financial management is triggered by a major life event such as buying a home, having children, losing a job or inheriting money. But with a large number of Australians fast approaching retirement, the pressure is on the financial services industry to find ways to deliver money management know-how. Wed, 14 Jul 2010 16:01:16 -0800 9B5D2510-57EE-11DF-AC4A0050568336DC Knowledge@ASB: Foreign Investment UNSWTV Chinese companies have missed out on acquiring attractive Australian assets because they lack offshore negotiating skills. The global financial crisis saw a number of miscalculated offers as Chinese bidders overlooked the strength of an Australian economy buoyed substantially by its connection to their own economy. But these early failures are not reliable indicators of what will happen next. Don’t sit back and relax, say China watchers, because the sophistication of Chinese deal makers is growing fast. Wed, 14 Jul 2010 16:01:05 -0800 9D13D5C0-57EE-11DF-AC4A0050568336DC Knowledge@ASB: Corporate Social Responsibility UNSWTV orporate social responsibility has a new stickiness. Even in tough times, companies have retained their strategies to give back to the community. They see value in solving social issues that affect their businesses, enhance brand and reputation, and promote employee engagement. In Australia, for example, a breakthrough in social enterprise has emerged from the recent financial crisis, says Peter Shergold of the Centre for Social Impact.  responsibility,Centre for social impact,Centre for Social Impact Australian School of Buisiness Peter Shergold CSI ,social innovation Wed, 14 Jul 2010 16:01:01 -0800 2327D450-57EE-11DF-AC4A0050568336DC Knowledge@ASB: What's Funny About That? UNSWTV Cultural and gender differences affect what people find funny so staking a marketing budget on a humorous advertising campaign may carry high risks. New research shows some attempts to make ’em laugh have backfired spectacularly. But the pay-off when you hit an audience’s funny bone can be huge. In a culturally diverse nation such as Australia – and with ad campaigns being rolled out internationally – marketers face some serious considerations. Wed, 14 Jul 2010 16:00:52 -0800 C38B6650-57EE-11DF-AC4A0050568336DC Knowledge@ASB: Winners and Losers UNSWTV e growth of companies depends on people taking initiative – but boundary pushing and “outside the square” behaviour doesn’t always earn a pat on the back. Managers can be suspicious of proactive individuals’ motives. Their actions may be construed as implied criticism – or even a threat. New research shows employees who are perceived to be happy at work and work well in teams are more likely to be rewarded. Wed, 14 Jul 2010 16:00:35 -0800 C4C8A140-57EE-11DF-AC4A0050568336DC Knowledge@ASB: Banking Regulation UNSWTV In the global financial crisis, Australia's banks did much better than their offshore counterparts, mostly due to tight regulatory practices that forced the nation’s bankers to manage risk properly. But with the US and the European Union now working on new banking regulatory frameworks, the question going forward is: What changes will Australia need to make to fit the new international order? Wed, 14 Jul 2010 16:00:20 -0800 DB871420-57EE-11DF-AC4A0050568336DC Knowledge@ASB: Blonde Ambition UNSWTV londes are said to have more fun, but academic research suggests – in the early stages of their careers, at least – better educated blondes may need to enjoy the high life on comparatively tighter budgets. That’s because they tend to be paid less for the first five years of their careers, according to research by Geni Dechter of the Australian School of Business. However, they waste no time in catching up with their brunette counterparts. The new study adds to a growing body of research showing how appearances count at work – even behind the frontline. ambition,wages,graduate Wed, 14 Jul 2010 16:00:16 -0800 9B1BAF60-69EE-11DF-98D10050568336DC Knowledge@ASB: Scrutinising Suppliers UNSWTV Should big business offer smaller suppliers a helping hand as they try to develop best-practice sustainability? It’s almost pointless to go green in isolation, says Dr Mehreen Faruqi, an environmental expert and visiting fellow at the University of New South Wales. Shared responsibility presents a way forward as sustainability is refreshed on corporate agendas after the distractions of the financial crisis. Whether the motivation is to win business or save the planet, who cares if you are all in it together? Wed, 14 Jul 2010 16:00:07 -0800 F2944340-57EE-11DF-AC4A0050568336DC Knowledge@ASB: Management Dilemma UNSWTV If staff are taking sick days, experts say, the illness is often within the organisation. Fairness – or lack of it – is a common cause of absenteeism, and taking days off may be a way for employees to even out the power imbalance. Some organisations and departments develop unhealthy norms around when it’s okay to take a “legitimate” sickie. The issue may leave managers counting the cost of lost productivity due to days off – but the prognosis is good for those who know how to tackle it. Management,staff Wed, 14 Jul 2010 15:59:57 -0800 A40D39A0-69ED-11DF-98D10050568336DC Knowledge@ASB: Social Media UNSWTV Australian companies are engaging increasingly with customers and critics through social media, but blogging and networking online are fraught activities for many. Losing control of a corporate message is just the start. There’s the need to be able to handle the frank fallout that inevitably comes through open online exchanges. And what happens when popular bloggers and “tweeters” move to another employer, taking their followers with them? Corporations need to develop an understanding of how to behave in this new environment and to create clear policies for staff engagement. Big ears and thick skins are not optional. Wed, 14 Jul 2010 15:59:53 -0800 DCE321B0-57EE-11DF-AC4A0050568336DC Knowledge@ASB: The Dark Side of Leadership UNSWTV here’s a high price to pay when bosses behave badly. Many stressed out leaders came to the fore during the global financial crisis, shifting the focus away from models of positive leadership to an exploration of the negative flipside. Of course, a boss doesn’t always shout or engage in more insidious behaviours in isolation. Often there’s a pecking order, say researchers at the Australian School of Business. Next step? Weed out or train up the culprits. Wed, 14 Jul 2010 15:59:42 -0800 70C0A260-4B4A-11DF-82570050568336DC Knowledge@ASB: Connection or Intrusion? UNSWTV Is your smart phone an invaluable communication device or a dogged reminder of incessant responsibilities? A research project on the impact of smart phone use has revealed three specific user types as well as a raft of positive and negative behavioural and lifestyle outcomes. Most importantly, it has flagged the need for guidelines and strong management of smart phone behaviours with clear boundaries. Wed, 14 Jul 2010 15:59:28 -0800 5E737150-5748-11DF-94390050568336DC Knowledge@ASB: Leadership Question UNSWTV Developing leaders is critical but choosing who should take the high-potential fast track is tricky. Strategies for identifying high-potential employees – HIPOs – include recruiting bright, young things, monitoring long-term performance and cherry-picking smart outsiders to groom as the company’s next leaders. But what happens to the 90% of employees who aren’t hit with the HIPO stick? Research suggests a broader approach may be more beneficial – and Australian companies are listening. leadership,Character Development Wed, 14 Jul 2010 15:59:26 -0800 FD2F9270-6DD1-11DF-B2950050568336DC Knowledge@ASB: It's Complicated! UNSWTV Business leaders and policymakers are grappling with seemingly insurmountable issues. Think climate change, the situation in Afghanistan, population ageing or saturated markets. Some complex issues can’t be definitively resolved – and attempts to fix them may actually make them worse.  So, how can complexity be managed? Rather than tossing complex problems in the old too-hard basket, multiple approaches and new mindsets are required. Thought leaders suggest it’s time for a rethink. Wed, 14 Jul 2010 15:59:07 -0800 3EC5AF20-57EE-11DF-AC4A0050568336DC Knowledge@ASB: Workforce Flexibility UNSWTV The global financial crisis delivered new opportunities to re-engineer the workforce with an increased focus on flexibility for both employers and employees. But dangers lurk in the short-term cost-cutting approach embraced by many organisations. The arrangements – and, in some cases, the companies – may not be sustainable. There’s a fine line between organisational agility achieved by varying head counts, and having the right in-house talent and capabilities. Employers need workforce models that can be scaled quickly to meet business demands. Wed, 14 Jul 2010 15:58:53 -0800 C61FF3E0-57EE-11DF-AC4A0050568336DC Minding the mining tax: Between a rock and a hard place UNSWTV   As new taxes go, the proposed new 40 percent super tax on mining sector profits is nothing if not controversial. It has been bitterly opposed by the resources sector, however it does allow for a cut in the rate of business taxation, which means companies can increase the contribution they make to employees superannuation. In an interview for Knowledge@Australian School of Business, Professor John Taylor and Professor Neil Warren discuss the proposed new tax, and where the money raised would be spent. Tue, 18 May 2010 16:15:28 -0800 3EA4A540-6244-11DF-911F0050568336DC Knowledge@ASB: Securency: Lifting the Lid on Grey Money UNSWTV A new inquiry into the activities of Australia's central bank subsidiary, Securency, has brought the prevalence of bribery in international business dealings back into the spotlight. Demands for "grey money" are commonplace when negotiating deals in many developing nations. While multinational boards may place a high emphasis on ethics, often it's their people on the ground who are left with the risky business of tackling the grey areas to get deals over the line. It's time for a public airing of this cross-cultural no-go zone, says international management professor Andrew Kakabadse. Major global third sector organisations, including the United Nations, need to open the debate so corporate board members can take their heads out of the sand. Wed, 01 May 2019 07:02:56 -0800 F84F6290-E864-11DF-A59B0050568336DC Knowledge@ASB: Capital Raising: Is debt back? UNSWTV The financial crisis forced many large Australian corporations to change their approaches to debt. A number have been looking to the US markets to meet their funding needs, while others – such as the Commonwealth Bank of Australia – are keen to reduce reliance on offshore markets by developing a local retail corporate bond market to help with capital raising problems. But industry players suggest the Australian market will continue to lack the depth to meet big corporates' long-term requirements for capital, and there are signs that some have short memories. ,business,debt,knowledge,ASB Thu, 17 Feb 2011 15:54:46 -0800 ABAE5AC0-3A50-11E0-8F370050568336DC Knowledge@ASB: Oprah's Ultimate Australian Adventure: Tourism Takes a Celebrity Gamble UNSWTV Will "the Oprah effect" save Australian tourism? With A$3 million being invested in bringing – arguably – the world's most famous woman and her TV production crew to visit some of Australia's most iconic locations, all eyes are on the outcomes. Increasing exposure through celebrity glitz will certainly deliver benefits, insist tourism sector experts. But, even if more travellers book long-haul flights and are undeterred by the robust exchange rate on the Australian dollar, will they concur with a British critic's recent description of the land Down Under as the "dumb blonde" of the world, "attractive, but shallow and unintelligent"? And, can Oprah turn that around? Fri, 19 Nov 2010 15:30:40 -0800 1FBF6D80-F395-11DF-9B770050568336DC Knowledge@ASB: Talent Retention: Why Global Employees are so Footloose UNSWTV For global accounting firms, skills shortages are a perennial issue. The hot topic among people managers in the Big Four accounting firms is how to keep staff hanging in when there are so many opportunities to be explored worldwide. At a workshop convened by Australian School of Business researchers Steve Frenkel and Kyoung-Hee Yu, Big Four HR managers outlined the dilemmas posed by "boundaryless" international careers. Firms need more sophisticated approaches to flexibility and creative career builders for whom the role of partner, on today's terms, may hold little appeal, they determined. These days keeping talent inside the organisation definitely means thinking outside the square.  ,accounting,human,resource,organisation,and,management,knowledge,ASB,business Fri, 19 Nov 2010 15:29:37 -0800 200B91B0-F395-11DF-9B770050568336DC Knowledge@ASB: International Taxation: When the Transfer Pricing is Right UNSWTV The Australian Taxation Office is cracking down on multinationals that use complex intercompany accounting methods and valuations to avoid paying tax across borders. Audits of some of Australia's top corporations with subsidiaries in a tax haven, low-tax jurisdiction or bank secrecy country are slated to begin in November. Transfer pricing is an area of international business law that's forever evolving – and it presents major challenges for both the tax authorities and the defendants, as recent court battles have shown. But avoiding tax is not the sole motivation for companies to direct revenue offshore, in global business sometimes patriotism plays a part, suggest experts from the Australian School of Business. Fri, 19 Nov 2010 15:29:24 -0800 1FDBF630-F395-11DF-9B770050568336DC Knowledge@ASB: Sovereign Debt: Bring on the Bankruptcy Regime UNSWTV It seems the time has arrived for the idea of sovereign bankruptcy. Globalisation is making international financial crises far more frequent and severe. And, as the world faces the GSC – the global sovereign crisis – a new approach is required, argues Ross Buckley, professor of international finance at the University of New South Wales. An international bankruptcy forum would bring together bankers and debtors to reach agreements to help defaulting countries and potentially eliminate their need for drastic austerity measures. In the interim, indebted countries could continue trading and try to clean up their acts. The upshot would be a speedier resolution of debt crises, delivery of more humane outcomes and the constraint of reckless borrowing and lending. So is it time for the International Monetary Fund to move over? ,soveriegn,debt,business,knowledge,ASB Fri, 22 Oct 2010 12:38:20 -0800 D2930D60-DD7C-11DF-A3AD0050568336DC Knowledge@ASB: Investment Returns: How Active Fund Managers Lost Their Lustre UNSWTV Australian investors are asking if it’s worth paying more for active funds management. The average Australian equity fund manager only marginally outperformed the market in the last financial year, and recent market volatility has highlighted some costly issues. With higher fees and capital gains tax to take into account, active managers are not so attractive after all. Past performance is not a reliable indicator for the future. And research shows the difficulty in picking successful managers for different markets. But investors are not alone in the confusion – financial advisers are also struggling. ,investment,return,fund,managers,business,knowledge,ASB Fri, 22 Oct 2010 12:35:43 -0800 388C82A0-DD7C-11DF-A3AD0050568336DC Knowledge@ASB: How China's Workforce Woes Became A Matter of Life and Death UNSWTV After a spate of suicides by workers, Foxconn Technology Group, the world’s largest contract electronic manufacturer, is cutting overtime from 80 hours a month (to the legal limit of 36), raising wages, hiring counsellors and holding morale-boosting rallies. But safety nets remain installed on its buildings to stop would-be jumpers as the company plans to grow its workforce from 920,000 to 1.3 million in 2011. The Foxconn controversy springs from more holistic problems in the nation that’s been called the world’s biggest sweatshop. China’s workforce woes are pressured by the massive migration of younger workers and a rising inequality in wealth and income, argues Steve Frenkel, a professor at the Australian School of Business. ,China,Human,Resources,business,Knowledge,ASB Fri, 22 Oct 2010 12:31:42 -0800 B1616430-DD7B-11DF-A3AD0050568336DC Knowledge@ASB: Currency Cohesion: Will Parity Put Interest Rates on Hold? UNSWTV The "magic moment" has arrived. The Australian and the US dollars are now one to one. It's great news for Aussie outbound travellers, but not so good for major export sectors, including resources and education. And this long anticipated parity of the currencies does not seem so magical when the weak state of the US economy is taken into account, says Australian School of Business economist, Peter Swan. Although there may be hidden benefits, he predicts, as the Reserve Bank of Australia now looks set to rest easy on interest rates. ,currency,,australian,dollar,,economy,,interest,rates,,export,,mining,,industry,,business,,Knowledge@ASB Wed, 20 Oct 2010 09:27:31 -0800 D15EE500-DBCD-11DF-A8C50050568336DC Knowledge@ASB: Boardroom Positions Vacant: What's the Real Cost of Appointing a Foreign Director? UNSWTV When a foreign independent director is on the board the results may be weaker governance and higher costs – because missed meetings and an offshore director's inability to observe management and glean crucial information have a tangible impact. Companies with foreign directors are more likely to misreport their financial positions and overpay their chief executives, according to research by Ron Masulis, a professor at the Australian School of Business. So, when considering candidates for that next board vacancy, perhaps the emphasis should be less on who you know and more about where they're based. ,foreign,,director,,board,,leadership,,business,,Knowledge@ASB Wed, 20 Oct 2010 09:25:36 -0800 D1936280-DBCD-11DF-A8C50050568336DC Knowledge@ASB: Marketing Mayhem: Re-evaluating the Power of Green Persuasion UNSWTV Has green lost its sting as a sales pitch? As sustainability hits the forefront of corporate agendas, bona fide environmental claims on products are proving more of a tiebreaker than a dealmaker with consumers. To blame is greenwashing by marketers whose inflated claims have generated scepticism that's impacted the companies and products with solid green credentials. Now it's up to the marketers who caused the damage to repair it by cleaning up their acts and reconsidering their value propositions. ,green,,marketing,,business,,knowledge@ASB Wed, 20 Oct 2010 09:22:42 -0800 DD2B5F30-DBCD-11DF-A8C50050568336DC Knowledge@ASB: Teamwork Optimisation UNSWTV Working with people you like, trust and respect can be fun, but how does having friends in a workplace team affect outcomes? Social incentives only work some of the time – they are not a "must have" for more productive teamwork, new research suggests. Leadership, effective management and well-designed teams are key, while the presence of high performers on a team also has an impact. But "superstar" team members have both positive and negative effects on their colleagues. Why? Because bright, shiny people who perceive they're contributing more than others may try to redress the balance – or even opt out altogether. ,business,,teamwork,,social,incentives,,productivity,,knowledge@ASB, Wed, 20 Oct 2010 09:20:36 -0800 E5051B60-DBCD-11DF-A8C50050568336DC Knowledge@ASB: Sustainability: How Investors Are Getting the Corporate Responsibility Measure UNSWTV Companies can count the ways of proving their sustainable worth these days with a proliferation of rankings and indices. And there are plenty of good reasons for showing they count. The next decade is predicted to be "an age of responsibility for capital markets" and – from climate change to resource shortages and energy security – there are pressing global issues to be addressed. Besides, not only are companies that manage their environmental, social and governance (ESG) risks already outperforming their competitors, but investors are also becoming much sharper at sussing out negligence. ,Sustainability,,Investment,,Ethical,,business,,knowledge@ASB Mon, 11 Oct 2010 13:51:32 -0800 31330990-D4E2-11DF-AB0B0050568336DC Knowledge@ASB: Workspace Design UNSWTV What difference does the physical working environment make to business outcomes? An edgy or slick architecturally designed office with ergonomic furniture, breakout spaces and built-in fun factors may lure employees and boost morale. But the opportunity to sit in a different spot everyday and become the ping pong champ at work only goes so far. It's the fundamentals that count, right down to good lighting and air quality. Activity-based working and open-plan still only suit some organisations some of the time. And spending up on a state-of-the-art headquarters when the organisation has a toxic culture is like putting lipstick on a pig, say the experts. Thu, 07 Oct 2010 12:29:51 -0800 C6F4AED0-D199-11DF-BB6A0050568336DC Knowledge@ASB: Send in the Geeks UNSWTV Australia's future as a knowledge economy is threatened by serious skills shortages. Information technology lost its "cool" career allure a decade ago with the dotcom bust. Then Australian corporations widely embraced the financial benefits of offshoring. And these days a career in IT has a further image problem – the ubiquity of the PC has given rise to the perception that everyone has IT know-how. Meanwhile, the call for enterprise architects and others who understand the nexus where IT meets business strategy is turning into a roar. While Australia's attempts to grow its own IT professionals are showing signs of a turnaround, is this too little, too late? ,IT,,skill,shortage,,jobs,,business,,knowledge@ASB Thu, 07 Oct 2010 09:44:32 -0800 D7136C20-D199-11DF-BB6A0050568336DC Knowledge@ASB: Challenges of Not-for-profit Leadership UNSWTV Arguably, Third Sector – or not-for-profit (NFP) – leaders need to be more skilled than their counterparts in the public and private sectors. That's because socially innovative organisations face greater complexity. They must be more tightly managed and disciplined as they balance an extraordinary diversity of stakeholder interests. A not-for-profit chief executive is at risk of being crushed under the weight of goodwill as he or she drives an organisation's strategic direction and manages well-meaning expectations. In particular, successful Third Sector leaders must be exceptional communicators, says Peter Shergold, head of the Centre for Social Impact at the University of New South Wales. ,NFP,,Not-for-profit,,leadership,,third-sector,,CEO,,business,,Knowledge@ASB Thu, 07 Oct 2010 09:43:15 -0800 C95708D0-D199-11DF-BB6A0050568336DC Knowledge@ASB: Age Old Risks: Bring on Annuities Before It's Too Late! UNSWTV With A$1.3 trillion invested in superannuation funds, Australians have been told they are world leaders when it comes to retirement savings. But here's a reality check. Overall, the management of retirement assets in Australia is poor due to risks in the super system and the lack of annuities, says international expert David Blake, director of the Pensions Institute at the UK's Cass Business School. A guest speaker at the Longevity 6 Conference, hosted by the Australian Institute for Population Ageing Research, Blake joins Michael Sherris, a professor in actuarial studies at the Australian School of Business, in outlining the need for further reforms. ,Annuities,,retirement,,superannuation,,business,,knowledge@ASB Thu, 07 Oct 2010 09:40:04 -0800 BADBE960-D199-11DF-BB6A0050568336DC Knowledge@ASB: Electric Vehicles UNSWTV Australia needs to speed up its drive for electric vehicles (EVs). Governments and capital markets widely appear to have accepted that the automobile’s future is electric. By 2012 all major carmakers are expected to have an EV model. Environmentalists and some institutions have embraced the idea in Australia, and the national capital, Canberra, looks set to be the first city to enable prevalent use of EVs. But some big questions remain over infrastructure, rising power costs and the affordability of going electric. Government investment may be required because Australia could be left behind if it waits for consumers to leap on the EV bandwagon. ,energy,,carbon,footprint,,green,,electric,vehicles,,cars,,business,,sustainability,,knowledge@ASB,,business Thu, 23 Sep 2010 16:47:36 -0800 071D72D0-C6CD-11DF-802C0050568336DC Knowledge@ASB: Cross-Border Assignments UNSWTV There’s ample evidence that giving a cross-border assignment to the wrong manager can have catastrophic results. New research from the Australian School of Business reveals companies are using poor selection criteria when choosing who does business offshore. Often managers who perform well in the domestic business environment receive the prized international assignments. But multinationals should be looking more closely at individual traits and values. Star candidates do not value one culture more than another. They are “transnationalists” who can pursue prospects in different cultural circumstances – and learn along the way. Those with die-hard ethnocentric tendencies need not apply. ,transnational,,culture,,managers,,relocation,,business,,knowledge@ASB Thu, 23 Sep 2010 15:14:51 -0800 0B1C17B0-C6CD-11DF-802C0050568336DC Knowledge@ASB: Productivity UNSWTV National productivity comparisons are cause for alarm for policymakers. Australia is behind in some critical areas, including its capacity to innovate, competitive advantage and business sophistication. And the “brain drain” of talented Australians has been noted by the World Economic Forum. But a new federally funded research project is identifying what’s holding back productivity levels in Australian companies and uncovering ways to improve their performance. It’s a big picture issue, but responsibility for ramping up productivity does not rest with chief executives alone. Chief financial officers and human resources managers are important influencers in more productive cultures. ,Australia,,productivity,,leadership,,motivation,,human,resources,business,,Knowledge@ASB Thu, 23 Sep 2010 14:56:23 -0800 0E063F50-C6CD-11DF-802C0050568336DC Knowledge@ASB: Housing Affordability UNSWTV Home ownership was once touted as “the great Australian dream”. But the next generation of wannabe residential property owners look set to stay at home with the folks or rent for longer, as housing affordability becomes an increasingly pressing issue. Governments have a responsibility to make the aspiration for home ownership achievable, assert industry players. Positive intervention is required to facilitate land supply, fund infrastructure, create more equitable taxes and improve approval processes. While addressing the short supply of housing seems to be the logical solution, perhaps it’s not as simple as it looks, argues Glenn Otto, an economics professor at the Australian School of Business. ,Generation,y,,housing,prices,,economics,,business,,Knowledge@ASB,,business Thu, 23 Sep 2010 14:56:00 -0800 10A68CB0-C6CD-11DF-802C0050568336DC knowledge@ASB: Cultural Intelligence: Business Lessons from China and India UNSWTV The traditional Western business model is shifting as China and India increasingly take ownership of some of the world's biggest corporations. In the next generation, the world economy will look decidedly different, predict international management professors, Andrew and Nada Kakabadse. With global corporations becoming the dominant social institutions of the 21st century, managers and executives need to start changing their ways, they say. Forget about singing from the same corporate hymn sheet. Instead, try to keep in harmony with the choir. ,business,,China,,India,,Knowledge@ASB,,ASB,,businessmodel, Mon, 13 Sep 2010 13:51:09 -0800 480D3020-BBDB-11DF-BD760050568336DC Knowledge@ASB: Crowd Sourcing: Is Your Next Big Idea Just a Mouse Click Away? UNSWTV Tapping into the collective intelligence of the crowd is the latest means of corporate problem solving. The Internet has put research and development smarts online, giving companies – big and small – an almost instant way to bolster their expertise. Where the financial crisis may have left in-house ideas people in short supply, thousands of experts now are helping corporates solve their problems in real time and often for no cost, explains Patrick Finnegan, an associate professor of information systems at the Australian School of Business. These days it's possible to solve a major engineering problem or have a T-shirt designed by a global team who may be working just for the challenge or the joy of collaboration. Here's how. ,Innovation,,Entrepreneurship,,ASB,,knowledge@ASB,,business Mon, 13 Sep 2010 13:45:09 -0800 846EA580-BBDB-11DF-BD760050568336DC Knowledge@ASB: China and the Secret Code: Foreign Companies Face New Software Insecurity Rules UNSWTV China has introduced regulations requiring foreign technology companies to disclose trade secrets if they want to sell digital products to its government agencies. IT industry players suggest they may abandon the huge Chinese market rather than comply. And that's a big call. A solution is for companies to produce a separate range of products for the Chinese market, according to Greg Stephens, a lecturer in information technology at the Australian School of Business. But the new rules have given rise to a vital question: Does this latest protectionist approach signal the future way for China to do business with foreign companies? ,China,,software,,security,,IT,,technology,,knowledge@ASB,,ASB,,business Mon, 13 Sep 2010 13:37:58 -0800 628B6A20-BBDB-11DF-BD760050568336DC Knowledge@ASB: Leveraging Scandal: How Sporting Controversies Pay Off UNSWTV As the Pakistani cricket team's match-fixing embarrassment deepened, news broke in Australia that a strike force of detectives would investigate suspicious betting activity involving a recent National Rugby League game ... Yes, these days outrageous sports scandals are just part of life, observe two business academics from the University of New South Wales. But, could headline-grabbing incidents, such as Tiger Woods' marital infidelities or the recreational drug use of former Australian Football League player Ben Cousins, become marketing opportunities? It's a controversial and risky idea. And while most sponsors insist they are not ready to play, some have already picked up the ball and run with it. ,marketing,,sponsorship,,sportscandal,,bribery,,corruption,,Knowledge@ASB,,ASB,,business Mon, 13 Sep 2010 13:33:01 -0800 DD942310-BB13-11DF-B6810050568336DC Knowledge@ASB: Invisible Work: Revealing the Value of Priceless Soft Skills UNSWTV Workplaces depend on invisible skills. The ability to communicate interact and build relationships is vital for everyone. But particular proficiency in these hard-to-pin-down soft skills is needed for roles in customer service, hospitality or child, health and aged care, where they tend to be taken for granted. A new tool to recognise and develop these hidden skills, created by Australian School of Business researchers, is informing a US inquiry into 21st century competencies and a landmark equal pay case before Fair Work Australia. The upshot may be better pay, recognition and career paths for millions of workers. ,softskills,,employment,,HR,,business,,ASB,,knowledge@ASB Mon, 13 Sep 2010 13:29:10 -0800 DCAEAED0-B3F1-11DF-8EF00050568336DC Knowledge@ASB: Bribery and Corruption UNSWTV Australia has been slow to act as a signatory to the Organisation for Economic Co-operation and Development's Anti-Bribery Convention. That's despite mounting evidence showing Australian organisations have engaged in corrupt practices offshore. Bribery is much decried but little understood. New research from the Australian School of Business shows how employees become willing participants in corrupt systems, and even rationalise their criminal behaviour as normal. To stamp this out, anti-corruption authorities and managers need to understand their thinking ,bribery,,corruption,,knowledge@ASB,,business,,ASB Thu, 09 Sep 2010 16:52:32 -0800 3A9F8910-BBDB-11DF-BD760050568336DC knowledge@ASB: Dangers of Online Dating UNSWTV Internet dating began as a clandestine activity for many, but these days it's mainstream and a widely used social service. Like all popular cyber meeting places, however, online dating sites attract their share of scammers. "Romance fraud" is on the increase as perpetrators create fake identities and work their way into the hearts of eager singles. Then they profess love before asking for money. Even smart individuals – when virtually infatuated – may fall prey to these fraudsters' ruses. But a new study from the Australian School of Business reveals how to spot a scammer. ,scammers,,onlinedating,,fraud,,securityrisk,,business,,knowledge@ASB,,ASB Thu, 09 Sep 2010 16:52:24 -0800 27AC27F0-BBDB-11DF-BD760050568336DC Knowledge@ASB: Faking it in Frontline Roles UNSWTV Soaring sales figures and satisfied customers are two vital components of business success. But those on the frontline – charged with dealing with tricky customers and talking up the products and services – can pay a high emotional toll. Some staff are better at "surface acting"or faking it on the job, argues Markus Groth, a professor at the Australian School of Business and co-author of the paper, Willing and Able to Fake Emotions: A Closer Examination of the Link between Emotional Dissonance and Employee Well-Being.Training can help, but the secret to keeping everybody happy may come down to who’s hired in the first place. ,emotions,,dissonance,,customercomplaints,,customerservice,,business,,HR,,knowledge@ASB,,ASB Thu, 09 Sep 2010 16:52:12 -0800 DF9E4AF0-BB13-11DF-B6810050568336DC Knowledge@ASB: What happened to Starbucks? UNSWTV In the space of a month, coffee chain Starbucks went from ubiquity to near obscurity in Australia. Its decline meant significant losses for the company and put 700 staff out of work. Analysis of what went wrong, by Australian School of Business marketing professor Paul Patterson and colleagues, shows that the company with ambitions for global domination made fundamental mistakes such as trying to be all things to all people and charging a premium for a product that did not meet customer expectations. In the end it also failed to provide the customer service experience. Clearly many Australians decided Starbucks was not their cup of coffee, but businesses everywhere might thank the international brand for some salutary lessons to go. Thu, 09 Sep 2010 16:37:10 -0800 773EF1D0-BBDB-11DF-BD760050568336DC Knowledge@ASB: Social Entrepreneur of The Year's Vision: Empowering African Communities.mp3 UNSWTV Commerce graduate Shanil Samarakoon turned his back on a traditional career in business to become a social entrepreneur. While at university, he set up Empower, an organisation that helps poor communities in developing nations to help themselves. Access to electricity can be the key to social and economic growth, believes Samarakoon who has been named 2010’s Social Entrepreneur of the Year. In an interview for Knowledge @ Australian School of Business, Samarakoon outlines Empower’s latest project that aims to generate self-reliance in rural villages in the African nation of Malawi through microfinance, sustainable technologies and building their entrepreneurial skills. ,AustralianSchoolofBusiness,UNSW,Knowledge@ASB,ShanilSamarakoon Mon, 30 Aug 2010 14:55:40 -0800 F2AF9E10-B3F1-11DF-8EF00050568336DC Knowledge@ASB: Headline Disasters UNSWTV Organisations often have difficulty foreseeing disasters, but what can be controlled is the extent of the damage. The sexual harassment complaint against retailer David Jones’ former chief executive Mark McInnes and the ecological crisis in the Gulf of Mexico involving BP are just two ongoing headline examples. How an organisation – its directors and management – is seen to behave when a disaster strikes will have an impact long after the cleanup. What’s needed is a plan to manage the unexpected and to appease the news-hungry media. Crisis management experts claim the greatest blunders in the panic are lying or saying nothing. Instead, the information vacuum might be filled with an apology, without admitting liability. ,AustralianSchoolofBusiness,Knowledge@ASB,Knowledge@AustralianSchooolofBusiness,mediacrisis Wed, 11 Aug 2010 16:30:49 -0800 ED0CBA80-A508-11DF-80C60050568336DC Knowledge@ASB: Reputation Building UNSWTV Feedback constantly informs the decisions of consumers and managers. But what happens when the information received is unreliable or biased? In an online marketplace, when everyone says they are happy, the feel-good factor may cause the quality of goods to drop as the sellers of top-notch products have no way of differentiating themselves. In an organisation, incredible feedback may mean the wrong person gets promoted – or fired. Ultimately, feedback impacts on reputations. New research from the Australian School of Business shows offering different levels of confidentiality for disclosure is one vital feedback fix. ,AustralianSchoolofBusiness,Knowledge@ASB,Knowledge@AustralianSchoolofBusiness Wed, 11 Aug 2010 16:15:29 -0800 84058150-A50F-11DF-80C60050568336DC Knowledge@ASB: Instant Gratification UNSWTV The consuming habits of the baby boomers (those born between 1945 and 1960) have substantially eroded the rate of saving in advanced nations over the past 40 years. Spending up rather than saving up has created an untenable situation. And future generations will almost certainly have a lower standard of living, unless policymakers step in to reverse the trend, according to a new study from the Australian School of Business. With an ageing population accelerating the problem, researchers suggest the "I want it now!" boomers should curb their selfishness and consider the kids. ,AustralainSchoolofBusiness,Knowledge@ASB,Knowledge@AustralianSchoolofBusiness Wed, 01 May 2019 07:02:34 -0800 EC65F330-A508-11DF-80C60050568336DC House Price Risk: What's Driving Property Values? UNSWTV With equities looking unreliable, Australians continue to rest assured that their wealth is as safe as houses when it's invested in direct property – and many are relying on it as a means of funding retirement. But property prices are more volatile than most people think – even within the same postcode, insist researchers from the Australian School of Business. A new model that takes in factors not normally considered in indices shows substantial discrepancies in the growth rates of house prices. Seasonal effects and a range of variables including interest and unemployment rates, equity prices and housing stock may cause market values to plummet or soar. ,real,estate,property,market,wealth,retirement,volatility,index,equity,Michael,Sherris,knowledge,australian,school,business,asb,unsw Mon, 06 Feb 2012 12:07:13 -0800 67871740-505E-11E1-BFC90050568336DC Grey Matter: How Managing Other Affect Brain Power - Positively! UNSWTV Corporate players often list managing others as one of their greatest challenges, but new research from the University of New South Wales shows the upshot may be a bigger hippocampus, the part of the brain responsible for learning and memory. Being a manager potentially may ward off common neurodegenerative diseases, such as Alzheimer's. The research is thought-provoking for policymakers as they attempt to keep mature individuals in the workforce longer to tackle the dilemmas of an ageing population. And senior staff may want to think again about the prospect of early retirement. ,manager,management,hippocampus,brain,training,learning,memory,mature,workers,population,ageing,retirement,health,knowledge,australian,school,business,asb,unsw Tue, 07 Feb 2012 11:04:07 -0800 995133D0-511E-11E1-BFC90050568336DC Intellectual Property: Can Australia Clean Up on Clean Tech? UNSWTV Australia has had notable triumphs with innovation, but when it comes to the emerging 21st century boom sector – clean tech – international experts say it's lagging. While Australia is a leader in solar, helping China successfully decrease energy intensity, rather than joining the global race to meet demand for green technologies and service, it's effectively on the sidelines tying its shoelaces."Quarry Australia"may be killing green manufacturing, but big opportunities also exist in R&D. Now a new program at the University of New South Wales, a frontrunner in solar innovation, is blazing another trail by giving away intellectual property for commercialisation. ,intellectual,property,ip,clean,green,technology,energy,research,development,r,d,solar,battery,knowledge,australian,school,business,asb,unsw Tue, 07 Feb 2012 11:08:14 -0800 9E941880-511E-11E1-BFC90050568336DC A World of Difference: Why Some Australians Keep Getting Richer UNSWTV Prior to its recent Davos meeting, the World Economic Forum identified inequality as a major threat to the global economy. In an election year, US president Obama is also heeding the loud protests about the gap between the haves and have-nots. And the issue is growing in Australia where the rich are definitely getting richer, in part due to the mining boom. Other reasons include the decline in manufacturing, increasing numbers of single parent and solo households, labour market changes, and uneven redistribution through taxes and benefits. Peter Whiteford, director of the Social Policy Research Centre at the University of New South Wales, urges policymakers to shift focus from income growth to inequality. ,inequality,income,economic,disparity,occupy,ows,redistribution,social,policy,tax,benefits,knowledge,australian,school,business,asb,unsw Tue, 07 Feb 2012 11:13:54 -0800 A3113C30-511E-11E1-BFC90050568336DC Future Shocks: Can Regulators Stop the Next Flash Crash? UNSWTV Almost two years on, the cause of the May 2010 financial markets "flash crash" that wiped US$1 trillion in shareholder equity before bouncing back is still unknown, but plenty of fingers have been pointed at possible culprits for this electrifying event. Aiming to avoid a repeat, securities exchanges around the world now are following the lead of the US regulator by bringing on circuit breakers. Michael Aitken, chair of Capital Market Technologies at the University of New South Wales, says there's no evidence to support market design changes soon expected to be introduced in Australia. While gathering evidence is costly, he argues, it's the best way to stop future shocks. ,finance,financial,stock,market,flash,crash,regulation,exchange,dark,pools,algorithmic,trading,proprietary,asic,capital,technologies,michael,aitken,knowledge,australian,school,business,asb,unsw Tue, 21 Feb 2012 17:22:54 -0800 E328D310-5C53-11E1-9CBA0050568336DC Extreme Turbulence Ahead: How Qantas is Bracing for a New Era UNSWTV Air travel is predicted to boom over the next two decades, but many air carriers – facing multiple risks from climate change and rising costs – are struggling to avert a catastrophic nosedive. Wild weather, skyrocketing fuel prices and taxes on carbon emissions have airlines bracing for extreme turbulence. Australia's flagship carrier, Qantas, is working hard to build a more fuel-efficient fleet, and optimise flight plans and landing procedures. Meanwhile, Virgin Australia has its sights on alternative fuels as a potential mitigating factor. As the global tourism industry also confronts major strategic shifts, experts consider how long-haul carriers can keep flying high. ,air,travel,airlines,qantas,virgin,risk,management,climate,change,carbon,emissions,tax,alternative,fuels,efficiency,tourism,knowledge,australian,school,business,asb,unsw Tue, 21 Feb 2012 17:26:21 -0800 E6346560-5C53-11E1-9CBA0050568336DC Courage Under Fire: The Lowdown on SMS Sacking UNSWTV Is it okay to fire an employee by text message? Two recent hearings involving managers who sacked workers by SMS resulted in different rulings from Fair Work Australia commissioners, creating confusion for bosses. The high-profile cases are symptomatic of broader legal and ethical issues confronting managers when they decide how to communicate with staff. Email and text messages are commonly misinterpreted, experts insist. While the key issue in unfair dismissal disputes concerns whether fair process has been followed, the most important message is leave nothing to chance – don't hide behind technology. When it's bad news, both sides need to face up to it. ,text,message,sms,sacking,firing,fair,work,australia,fwa,ruling,management,unfair,dismissal,technology,knowledge,australian,school,business,asb,unsw Tue, 21 Feb 2012 17:30:16 -0800 EC0D96A0-5C53-11E1-9CBA0050568336DC Financial Product Innovation: The Spectre of Disasters Past or Trends with Benefits? UNSWTV New financial products, just as opaque and complex as those that brought the world to the brink of economic meltdown, are back on the market. There's no stopping them. And while it may seem ironic, financial innovation is vital as a means of managing risk, insist the experts. The latest batch of financial instruments also serves to lower costs for investors. But what shape should financial product innovation take? Should it be market-led innovation or based on centrally planned models? The process of bringing these products to market also demands scrutiny. However, rather than running scared, it seems the time has come to explore innovative financial product trends with benefits. ,financial,finance,products,instruments,services,innovation,regulation,cdo,cds,cebo,etf,debt,swap,investment,risk,management,knowledge,australian,school,business,asb,unsw Fri, 02 Mar 2012 12:01:05 -0800 55434650-6402-11E1-94650050568336DC Population Ageing: How to Turnaround Attitudes to Older Australians? UNSWTV Attitudes towards older people have changed. The group once seen as needy and deserving is often considered a burden these days, says Hal Kendig, chief investigator of the ARC Centre of Excellence in Population Ageing Research, based at the University of New South Wales. Stereotypes are unhelpful in the drive to support an increasing number of older people towards productive and healthy later years. Australia will need its older workforce in future, and a new body of research highlights its capabilities. Signs of a turnaround in attitudes are also on the horizon. ,population,ageing,research,workforce,participation,productivity,health,knowledge,australian,school,busniess,asb,unsw Tue, 06 Mar 2012 16:17:59 -0800 FCA09A10-674A-11E1-8C620050568336DC Click-through "Commitment": The Keyword for Search Engine Advertisers UNSWTV Search engine advertising (SEA) is booming and can deliver big rewards for businesses – but some are far better at it than others. New research from the Australian School of Business reveals why only some companies are succeeding in the fastest-growing online ad segment. Even when the hits are happening, many fail to measure, monitor and refine campaigns effectively. But the real keyword for search advertisers is "commitment". SEA may look quick and easy, but its ephemeral appearance is deceptive. Conscientious effort is required. ,search,engine,advertising,optimisation,optimization,online,metrics,monitoring,campaign,knowledge,australian,school,business,asb,unsw Tue, 06 Mar 2012 16:21:17 -0800 FF7EDAD0-674A-11E1-8C620050568336DC New Diversity Rules: Why Recruiters Can No Longer Send in the Clones UNSWTV When innovation can make the difference between "has-been" and the "next big thing", organisations no longer can afford the luxury of choosing whether to recruit for diversity. A broad range of talent promotes creativity and produces bright ideas, making it a must-have for organisations facing fierce competition and the perpetual demand to reinvent products and services. These days it most definitely takes (almost) all kinds and the well-recognised tendency to recruit "people like me" poses a serious risk, insist experts. Sure, managing a team of diverse employees can present challenges, but smart managers now must dare to recruit differently. ,diversity,recruitment,innovation,hr,talent,management,creativity,conflict,workplace,diverse,employees,knowledhe,australian,school,business,asb,unsw Wed, 21 Mar 2012 16:09:43 -0800 88DCCC50-7313-11E1-81740050568336DC The Budget Blow-out: Why the Environment Will Win Over Aged Care UNSWTV All eyes are on the May federal budget as policymakers weigh up priorities for two big-ticket items – environmental protection and the pressing needs of an increasingly ageing population. The environment is a key issue for younger generations who are expecting to live longer, while the baby boomers most immediately are facing the prospect of more years in retirement. The pressure is on but assumptions cannot be made about generational spending preferences, warn experts. Adeline Tubb, a researcher at the Australian School of Business, has produced a model that shows environmental protection looks set to win in the end. ,federal,budget,environment,aged,care,retirement,spending,environmental,protection,knowledge,australian,school,business,asb,unsw Tue, 03 Apr 2012 16:17:03 -0800 5CE32360-7D54-11E1-8D1F0050568336DC Competitive Advantage: Keep a Seat for the CIO at the Executive Table UNSWTV Chief information officers are facing numerous new trends in information technology. Think cloud computing, the rise of software as a service, the recent ubiquity of consumer devices and social media... IT can transform business performance. But enterprise IT no longer emanates from one part of an organisation, so strategising the ways to make an organisation competitive has become far more complex. The Australian School of Business is part of an international research collaboration exploring how – and from where – CIOs can best influence business outcomes. ,chief,information,officer,CIO,technology,IT,cloud,computing,software,consumer,devices,ipad,social,media,executive,strategy,outcomes,knowledge,australian,school,business,asb,unsw Tue, 03 Apr 2012 16:19:59 -0800 60F04730-7D54-11E1-8D1F0050568336DC Franchising: Commercial Marriages from Heaven or Hell? UNSWTV Franchising has boomed in Australia, now the world's most franchised nation per head of population. But the collapse of franchise chains – most recently booksellers Angus & Robertson and Borders – highlights that there are considerable additional challenges to the popular business model. What happens when a franchisor fails to move with the times or when franchisees and franchisors fall out? There are numerous upsides to these popular "commercial marriages", but – far from cookie-cutting – franchising is one of the most intricate and complicated ways of doing business, argue experts at the Australian School of Business. ,franchising,franchise,chains,model,legal,financial,obligations,knowledge,australian,school,business,asb,unsw Tue, 03 Apr 2012 16:23:03 -0800 65E6E0A0-7D54-11E1-8D1F0050568336DC Is It Good News or Bad News? It's All in the Delivery UNSWTV It takes guts to have a meaningful conversation at work. When a performance is not up to scratch or a promotion is sidelined, a direct exchange handled with compassion and courage is essential. Using the right words at the right time can be empowering. But technically proficient leaders – with growing email dependence – may be too busy or lack the behavioural insights for challenging chats that produce the right outcomes. A new executive education course at the Australian Graduate School of Management has resuscitated the dying art of conversation to help managers get what they want. ,Conversation,performance,compassion,courage,leadership,AGSM,management,knowledge,australian,school,business,ASB,UNSW Tue, 03 Apr 2012 17:44:06 -0800 45383730-7D60-11E1-8D1F0050568336DC Training & Development: Making Coaches Turn Professional UNSWTV When does an industry formally become a profession? The question is an increasingly apt one for the world of business and executive coaching, which has enjoyed extraordinary growth in the past 10 to 15 years. While some argue that the coaching industry is slowly coming of age, historically anyone with business experience across a wide range of sectors – from real estate to psychiatry – has been able to hang out a shingle. Without any clear qualifications or barriers to entry, coaching is a free-for-all – anyone can be one. ,australian,school,business,unsw,kasb,knowledge,coaching,training,executive Thu, 19 Apr 2012 12:04:03 -0800 8F1DD010-885C-11E1-8F3D0050568336DC Offshore Expansion: How to Create International Success UNSWTV According to conventional wisdom, Malaysian company Ta Ann Holdings Berhad should never have succeeded in its expansion to Tasmania, where it established two veneer mills. Existing models of "internationalising success"– when companies establish profitable overseas ventures – say internal resources and capabilities are vital to offshore success. When Ta Ann expanded to Tasmania, it had neither: it was the company's first offshore move so it lacked international experience, and it didn't have massive resources. So why did a company like Ta Ann make it in Tasmania against the odds, and against conventional business thinking? ,australian,school,business,kasb,knowledge,unsw,Malaysia,Tasmania,international,success Thu, 19 Apr 2012 12:04:25 -0800 99633510-885C-11E1-8F3D0050568336DC House Price Bust: Why Talk of a Bubble Won't Wash UNSWTV Australia's residential property market defied global trends by avoiding the collapses suffered by other countries during the global downturn. Insulated by a strong local economy, low unemployment, a growing population and government schemes that propped up the first homebuyers' market, Australian house prices slipped only 3% in 2008 as the US and UK recorded double-digit slumps. ,Australian,school,business,unsw,kasb,residential,property,economy,australia,population,homebuyers,house,prices Thu, 19 Apr 2012 12:03:46 -0800 9F8D4570-885C-11E1-8F3D0050568336DC Financial Planning Ethics: Upping the Ante for Counting on Trust UNSWTV The financial planning industry's future hinges on trust between planners and their clients. A new ethical standard drafted by the Accounting Professional and Ethical Standards Board may be just what's needed to drive the federal government's diluted Future of Financial Advice (FOFA) reforms further, eliminating conflict of interest problems due to carve-outs for asset fees and commissions on life insurance. But many are skeptical about the high ethical standards proposed for those dispensing financial planning advice, while advocates argue the same sort of conflicted remuneration rules that promote trust in doctors, lawyers and accountants should apply to financial planners. Will their voices be heard above the uproar? ,knowledge,asb,australian,school,business,financial,industry,FOFA,ethical,standards,planners Thu, 26 Apr 2012 16:48:47 -0800 761DC280-8F6B-11E1-A1980050568336DC The Productivity Riddle: What Policymakers Don't Know and Managers Need to Find Out UNSWTV Productivity, and its recent decline in Australia, are becoming the 21st century's biggest conundrums. Reforms are needed to heighten incentives for employers and increase organisations' flexibility, claim experts. Meanwhile, a forum that was promised prior to the last federal election to address key productivity issues is still awaited. There are more questions than answers concerning what drives productivity, which policy changes are needed and just what will make a difference within sectors and companies. But a US study that scoped out key areas for managers' consideration offers some leads. ,knowledge,australian,school,business,ASB,UNSW,productivity,US,UK,Australia Tue, 01 May 2012 16:00:13 -0800 282E2660-9352-11E1-B4810050568336DC The Big Quota Question: Why You Should Count on Women UNSWTV While some Australian organisations have taken the lead in introducing targets to redress gender balance, businesses will soon be required by law to report on the outcomes of their gender equality policies. But which strategies work for shifting the unconscious bias that continues to stop women ascending the corporate ladder? Employers must demonstrate that they are serious about women's careers. And assumptions about women's skills and abilities also must be challenged, insist experts. Momentum grows once there's a critical mass of women in an organisation, which is a strong argument for promoting quotas. But not everyone agrees. ,knowledge,australian,school,business,women,leadership,CEO,gender,equality,kasb,unsw Tue, 01 May 2012 15:57:09 -0800 2A278560-9352-11E1-B4810050568336DC Tesco's Extreme Makeover: A Phenomenal Tale of Turnaround Success UNSWTV The early '90s was not a good time for UK grocery chain Tesco. Sales were falling, profit growth was slowing, the share price was depressed and discount food retailers from continental Europe were beginning to enter the UK market. After a cost-cutting program things became even worse as competitors grew stronger. Drastic measures would be required to save the organisation in this most cut-throat of industries. But Tesco transformed itself. ,australian,school,of,business,asb,unsw,k,Knowledge,Tesco,Tescos,marketting,clubcard,food,retailer,grocery,chain,cost,cutting,UK,Europe,US,India,Asia,consumer,data,sainsbury,sainsburys Wed, 16 May 2012 15:34:36 -0800 2EA38A60-9E44-11E1-B8810050568336DC Green Office Design: You Want the Good News About Overheads? UNSWTV In future, will greater numbers of people cultivate food and take outdoor exercise or lunch breaks in the sky? The idea of gardens above – instead of below – has been around since Nebuchadnezzar II purportedly built the Hanging Gardens of Babylon some time in the first century BC, but they have tended to be a glamorous and expensive novelty. However, today in city centres around the globe, green rooftop spaces are proliferating. ,australian,school,of,business,asb,unsw,k,knowledge,sustainability,green,office,rooftops,roofs,walls,workplace,environment Wed, 16 May 2012 15:34:05 -0800 310CE940-9E44-11E1-B8810050568336DC Turning Geeks into Leaders: How to Stop IT Staff from Quitting UNSWTV Staff turnover is recognised as expensive and problematic across all industries, but it's arguably more so in the critically important and specialised field of information technology. However, studies have shown IT staff are more inclined to make a career move than others. ,australian,school,of,business,unsw,asb,knowledge,IT,staff,quitting,HR,human,resources,Atlassian,job,changes,quit,boss Wed, 16 May 2012 15:33:37 -0800 344F4300-9E44-11E1-B8810050568336DC Budget Déjà Vu: A Tiny Surplus on the Thin End of Wedge Politics UNSWTV To deliver a negligible budget surplus, the federal government increased taxes and saved on expenditure – then for good measure curried favour with middle Australia by giving much of it back. Treasurer Wayne Swan opted to sweat the small stuff rather than bust out any big reforming moves. He showed tough love to lower-income earners and welfare beneficiaries and no love to big earners. Neil Warren and Dale Boccabella, professors at the Australian School of Business, see some potential risks in the 2012 budget's game of halves, not least the fact that the superannuation rules are again a'changing. ,australian,school,of,business,unsw,asb,knowledge,k,budget,federal,2012,Wayne,Swan,superannuation,surplus,family,tax,taxes Wed, 16 May 2012 15:33:49 -0800 F3F597C0-9E4B-11E1-B8810050568336DC Venture Capital Investment: High Growth or High Anxiety? UNSWTV Venture capital investment in Australia hit a new low in 2011 leaving start-up entrepreneurs looking for loans or digging into their own pockets and those of angel investors. Not every business is suitable for venture capital. While inventors and entrepreneurs lament the lack funds to get their ideas rolling, venture investors argue they need to change their attitudes. Australia will look to its high-growth companies as the drivers of future economic prosperity, but venture capital industry operatives suggest policymakers also must consider ways to deliver tangible means of support. ,venture,capital,investment,knowledge,australian,school,business,unsw,asb,kasb,entrepreneur,entrepreneurs,fund,funding Tue, 29 May 2012 10:07:28 -0800 E0BE7A60-A921-11E1-B3050050568336DC Microfinance in Developed Economies: When Passion Meets Money UNSWTV Microfinance – the financial model developed to kickstart small businesses in emerging economies – also has a valuable place in the developed world. A new report from the Centre for Social Impact shows how hundreds of financially excluded Australians who had been unable to raise funds by traditional means have used microfinance to unleash their entrepreneurial smarts, creating a wide variety of enterprises and jobs for themselves and others. The program, run by National Australia Bank, shows remarkable things can happen when passion meets capital. ,knowledge,australian,school,business,asb,kasb,unsw,microfinance,finance,micro,small,startup,funding,fund,NAB Tue, 29 May 2012 10:11:47 -0800 E36C5C50-A921-11E1-B3050050568336DC People Power: How to Predict a Company's Real Value UNSWTV With service and knowledge-based industries now dominating the Australian economy, even greater emphasis is required on human capital. People – and their management skills – determine a company’s future value and its share price. Yet regulators and analysts remain substantially focused on yesterday’s financial information. In an era of increasing talent scarcity, a company’s bench strength of in terms of leadership, development and performance must be scrutinised, urge Australian School of Business researchers Loretta O’Donnell and Carol Royal. Want to know what that business will be worth tomorrow? Beyond the profit and loss statements lies a telling set of people indicators. But do analysts know what they are looking for? ,knowledge,asb,unsw,australian,school,business,australia,economy,human,capital,management,skills,value,talent Tue, 29 May 2012 10:09:40 -0800 E94650E0-A921-11E1-B3050050568336DC Resilience Training: Is Your Boss Copping Out on Burnout? UNSWTV Resilience training is on the rise as bosses, under organisational pressure to do more with fewer resources, try to address the increasing stress levels of their employees. New workplace health and safety rules put the onus on managers to act on stress – or risk facing prosecution for neglecting the psychological welfare of their workers. Sending staff on courses to learn how to stave off burnout seems to make good sense. However, experts from the University of New South Wales argue that resilience training is pushing responsibility onto individuals and overlooking the bigger organisational issue of why workers are strung out in the first place. ,Resilience,training,stress,workplace,office,managers,burnout,stressed,out,kasb,unsw,asb,knowledge,australian,school,business Mon, 09 Jul 2012 15:59:00 -0800 14E22350-A95E-11E1-B3050050568336DC Digital Age Etiquette: How to Handle Negative Comments Online UNSWTV Companies eager to embrace the vast, but unquantifiable benefits of social media also must deal with its downside. Digitally enabled whingers with viral capabilities certainly can damage a brand. Identifying legitimate complaints from the outpourings of cantankerous individuals is a skill for the new era in which brand value is being co-created by customers and others who care to comment. Understanding how to respond appropriately – and fast – is vital now cheap gibes can last in perpetuity, insist the experts. ,unsw,asb,knowledge,australian,school,business,social,media,brand,value,facebook,twitter,reputation Tue, 12 Jun 2012 16:57:27 -0800 85A13820-B434-11E1-87730050568336DC Save Up or Live It Up: Is Super Wasted on the Young? UNSWTV For many young people, saving for retirement may be a rainy day that's just too far away. Should those who are strapped for cash for basic living – perhaps saving for a house or paying for childcare – be able to access their super savings to foot the bill? This controversial idea has been floated by Bruce Bradbury of the Social Policy Research Centre at the University of New South Wales as compulsory contributions begin rising from 9% to 12%. However, industry players remain intent on capturing the attention of youthful retirement savers via social media – like it or not! ,unsw,asb,australian,school,business,knowledge,super,superannuation,savings,retirement,pension,young Tue, 12 Jun 2012 16:55:21 -0800 8A8003D0-B434-11E1-87730050568336DC Screening Job Candidates on Facebook: Thumbs Up or Thumbs Down? UNSWTV Controversy surrounds recent revelations of companies demanding log-in details for prospective employees' Facebook profiles. That's a step too far. Regardless, increasing numbers of employers and recruiters "informally" use social media profiles to screen job candidates. With information at their fingertips, checking out an individual's reputation and habits seems a logical way to avoid hiring the wrong person. But experts warn it's risky. Unsuccessful applicants may claim that an employer has contravened the Fair Work Act or privacy and discrimination laws. And there's a reverse onus on employers to prove they didn't do it! ,knowledge,ASB,Australian,school,business,Facebook,employee,password,login,recruit,recruiters,HR,job,application,UNSW Tue, 12 Jun 2012 16:45:26 -0800 915D1080-B434-11E1-87730050568336DC Tax Boss Tackles Transparency, Avoidance and Tax Appeal UNSWTV Only about 2.5 million individuals directly use the Australian Taxation Office's online e-tax facility, while a further 9 million now file online via tax agents, which means forking out for the extra compliance costs. A mere half a million use the old paper method. Commissioner of Taxation Michael D'Ascenzo well recalls the initial hue and cry about "big brother watching" when the returns went online in 2007. Regardless of delivery mode, research shows most Australians "don't mind" filing an annual tax return, he says. Mainly because about 80% of the nation's personal taxpayers get a refund. ,Australia,Country,Michael,D,Ascenzo,ATO,ATAX,Commissioner,Australians,Tax,Return,Australian,School,of,Business,ASB,K,Knowledge,UNSW,Credit Mon, 09 Jul 2012 15:29:11 -0800 3DE320E0-BF36-11E1-87730050568336DC Plugging Australia's Tax Gap: Will Third Parties Stop the Great Revenue Leak? UNSWTV The Australian government could boost its coffers by many billions of dollars and improve compliance by increasing third-party reporting on taxpayers' incomes and withholding tax requirements. International studies show that relying on taxpayers' honesty and co-operation typically results in a shortfall, according to Richard Highfield, senior adviser with the OECD's Centre for Tax Policy and Administration. He estimates increasing third-party reporting on business-related income in particular – including business-to-business and business-to-consumer sales, share transactions and property rentals – would significantly stem "revenue leakage."Australia has "lots of room" for improvement, agrees the US national taxpayer advocate, Nina Olson, but experience shows third-party reporting also can be counterproductive, she warns. ,Tax,Organization,Sector,Australia,Country,ATO,ATAX,Australians,Return,Australian,School,of,Business,ASB,K,Knowledge,UNSW,Credit,Third,Part,Reporting,Avoidance Tue, 26 Jun 2012 12:49:47 -0800 0B30D910-BF38-11E1-87730050568336DC Simplified Personal Tax: Can Australians Be Trusted to Do the Right Thing? UNSWTV As tax time looms, many Australians are gathering evidence of deductible spending to file a personal income tax return post June 30, with their hopes pinned on receiving even a small sum back. However, in the UK and New Zealand,"wage slaves" and others with comparatively simple tax affairs are spared the need to fill in a return at all.Ten inquiries have looked into simplifying tax returns over the past two decades, but Australia's policymakers have held back. Jason Kerr, a researcher at the Australian School of Business, finds strong evidence for a hybrid system that would entrust taxpayers to do the right thing. ,Australia,Country,Michael,D,Ascenzo,Jason,Kerr,ATO,ATAX,Commissioner,Australians,Tax,Return,Australian,School,of,Business,ASB,K,Knowledge Wed, 01 May 2019 07:02:38 -0800 16A54830-BF38-11E1-87730050568336DC Regulation Overload: How the Smallest Businesses Are Hardest Hit UNSWTV Tax compliance for Australian small business has risen dramatically. Small enterprises are spending an average of almost 500 hours or A$28,000 annually meeting their obligations. And new research from the Australian School of Business shows it’s the smallest that are the hardest hit. Even supposedly simplified systems add complexity for smaller operators. With small enterprises representing 96% of the business sector, their struggles are ripe for further consideration by the federal government. Researcher Chris Evans advocates a less-cluttered tax system that eliminates many current concessions, offsets and rebates. Without this, he warns the black market economy may grow. ,Australia,Sydney,UNSW,ASB,K,Knowledge,Australian,School,of,Business,Chris,Evans,Personal,Tax,Taxation,simple,tax,returns,UK,United,Kingdom,New,Zealand,ATAX,Country Tue, 26 Jun 2012 12:53:24 -0800 1FBC3F50-BF38-11E1-87730050568336DC Integrity and Fairness: How Australia's Security Market Measures Up UNSWTV A new report on the fairness and integrity of global securities markets reveals Australia has a higher incidence of aberrant trading behaviour, including insider trading and market manipulation, than many other major markets. Instances of information leakage that require investigation are five times greater in Australia than in the Europe, according to figures produced by the Capital Markets Cooperative Research Centre at the University of New South Wales. The first of its kind in the world, the report offers regulators important insights for market redesign. And, with evidence of a correlation between fairness and trading costs, it shows a clear need for further investigation. ,knowledge,australian,school,business,kasb,asb,K,ASB,UNSW,australia,securities,markets,insider,trading,information,leakage,leak,market,redesign,mike,aitken Mon, 09 Jul 2012 15:07:04 -0800 FFC717E0-C975-11E1-87AD0050568336DC What Do They Have That We Haven't? The Power of Intangible Assets UNSWTV The elusive secret to business success lies in intangible assets, according to new research from the Australian School of Business. Organisations that perform well in slippery areas, such as leadership, innovation and customer orientation, also outstrip their competition significantly. But as the term suggests, intangible assets are hard to pin down because they fail to fit standard accounting measures. And managers must learn to identify, quantify and continually improve on these assets to create a positive change if those prized hardcore tangibles - including profits and share prices - are going to add up. ,australian,school,business,australia,knowledge,kasb,K,ASB,unsw,intangible,assets,leadership,innovation,customer,orientation Mon, 09 Jul 2012 15:32:42 -0800 055B29D0-C976-11E1-87AD0050568336DC The Game's Over for Banking Super Profits: What's Next for the Big Four? UNSWTV Australia's big four banks may still rate highly in international terms, but they are also grappling with a multitude of changes that look set to transform the industry. With the new Basel 111 requirements posing onerous demands and a cyclical slowdown, the traditional lenders can forget about super profits and the old-style banking model. The game is over, insist industry insiders. Instead they are moving on to modes of peer-to-peer lending, the value of "big data" and learning how to schmooze customers via a digital interface. IT investment, offshore expansion, pricing and brand positioning are all in sharp focus as the banks line up for a major makeover. ,australian,school,business,ASB,KASB,K,Knowledge,AustralianSchoolofBusiness,unsw,big,four,4,banks,bank,NAB,CBA,Commonwealth,Westpac,ANZ,profit,loss,greed,data Mon, 09 Jul 2012 15:32:21 -0800 12E35DC0-C976-11E1-87AD0050568336DC What Do They Have That We Haven't? The Power of Intangible Assets UNSWTV Even confident executives and managers can get the jitters when delivering a presentation or important public news. Over decades survey participants have repeatedly claimed they would rather die than address a crowd. But it's not necessary to be a "rock star" entrepreneur or a smooth-talking politician to enthrall the audience as a public speaker. Body language, deep breathing, sharing personal insights and giving yourself a break will improve impact and overcome awkwardness, say experts who insist hubris may be as much of a turn-off as shyness. Here's how Australia's senator Penny Wong and US president Barack Obama get it right. ,kasb,knowledge,asb,australian,school,of,business,K,australia,unsw,public,speaking,speech,presentation,talking,talk Mon, 09 Jul 2012 15:02:30 -0800 1A9BD650-C976-11E1-87AD0050568336DC Knowledge@ASB: What Boomers Want UNSWTV Baby boomers may be used to getting what they want, but to meet their expectations – and the needs of Australia’s inexorably ageing population generally – a new model for aged care is required. With some industry players struggling to cover costs, tight regulation may need to be loosened to provide more appeal for investors. Wealthy boomers will also have to pay more for ultra-upmarket aged care facilities. And a new breed of service providers is catering to the generation that sung to the refrain, “Hope I die before I get old”. Wed, 14 Jul 2010 16:00:36 -0800 45F97FA0-57F4-11DF-AC4A0050568336DC The Rise of Ethnography: How Market Research Has Gone Gonzo UNSWTV With the emergence of ethnography as a means of tapping consumers' mindsets, suddenly market researchers are digging a whole lot deeper. Focus groups still work but hanging out with the target group while the gang interacts with products (and peers) and imparts insights can deliver more powerful revelations. Once destined for far-flung exotic locations, today's ethnographers also are venturing into the corporate jungle to present their findings on urban sub-cultures. There are compelling reasons for smart marketers to go gonzo. ,ethnography,market,research,insight,marketing,knowledge,australian,school,business,asb,unsw,targetted Tue, 25 Oct 2011 17:43:10 -0800 E070D380-FED3-11E0-BD250050568336DC Leadership & Performance: Proof that the Calibre of the Boss Definitely Rules UNSWTV What makes a high-performing workplace? Amid debates about profitability and productivity, there have been countless theories, but now an extensive new study, led by two University of New South Wales' researchers, highlights what many have long suggested – the quality of organisational leadership is paramount. It shows the bosses of top-performing organisations not only spend more time mentoring and engaging their staff, but have an authenticity that brings integrity to their behaviour at all times. The research has given rise to the High Performing Workplace Index, which allows companies to benchmark performance across six categories, including innovation, employee experience and customer orientation. ,high,low,performing,workplace,index,productivity,leadership,performance,management,innovation,knowledge,australian,school,business,asb,unsw Wed, 26 Oct 2011 11:08:59 -0800 2D12D1B0-FF66-11E0-BD250050568336DC Game-changing Management: How to Put Structure Around Anything Goes UNSWTV Today's organisations have been likened to living organisms that continually create and re-create in response to stimulus and cannot be directed, only disturbed. Rules and protocols almost seem to no longer apply in a world where technology-enabled collaboration is cutting through hierarchies and employees are afforded the flexibility and freedom to do their jobs. Hold on, says Rose Trevelyan, who teaches on the AGSM MBA program, clear lines of direction, clarity of purpose and measurement are still important in managing increasingly complex organisations. It's a matter of determining where or how to draw the line. ,organisational,management,complexity,diversity,flexible,workplace,collaboration,strategy,metrics,knowledge,australian,school,business,asb,unsw Tue, 08 Nov 2011 10:26:28 -0800 4326B4A0-0996-11E1-832C0050568336DC Indian Investment: The Quiet Achiever Turns Up the Volume UNSWTV The significance of India's growth as a global economic powerhouse has been comparatively overlooked in Australia. Among the fast-emerging economies, China with its more aggressive, acquisitive approach has indisputably hogged the limelight. The relationship between Australia and India may have been stuck previously on the three Cs – curry, cricket and Commonwealth – but that's quickly changing as steelmakers, information and communications players from the subcontinent spy opportunities Down Under. Thanks to intense pressure for energy security, India's investment in Australia is starting to surge. And the untapped coal resource in Queensland's Galilee Basin is a hotspot, as Indian interests look to share resources with the world's richest woman, Australian Gina Rinehart. <hr style="clear: both; visibility: hidden;" /> ,Knowledge,at,Australian,School,of,Business,UNSW,ASB,KASB,India,growth,economies,Tata,Gina,Rinehart,investment,mining Wed, 08 Aug 2012 09:14:52 -0800 9B0157A0-E0E3-11E1-AD2B0050568336DC Not-for-profit Governance: Rising to the Accountability Challenge UNSWTV Research shows the quality of governance in not-for-profit organisations is far sharper than many assume. Commercially canny directors are applying their smarts in the sector to great effect. But size counts. Big not for profits are more likely to benefit from the experience of seasoned board members than smaller ones. With new education tools at hand, more funding avenues for social enterprises and increasing interest spurred by the looming arrival of the Australian Charities and Not-for-Profits Commission, there's ongoing pressure on not-for-profits to grow their focus on social impact and be more accountable. But measuring performance still proves difficult for some. ,Knowledge,at,Australian,School,of,Business,ASB,UNSW,KASB,not,for,profit,not-for-profit,charity,volunteer,social,impact Wed, 08 Aug 2012 09:12:43 -0800 A1544CC0-E0E3-11E1-AD2B0050568336DC The Truth About Outsourcing: Cost Savings? Quality Improvement? It May Get Messy! UNSWTV The growth of outsourcing has blurred the traditional boundaries of businesses globally. While cost savings remain the greatest motivation, smart companies have developed more sophisticated approaches to contracting out business functions. Multiple suppliers may be involved as they seek to improve outcomes, tap into innovation or manage growth. Whether or not outsourcing really boosts a firm's bottom line or productivity usually depends on how deeply the decision-makers understand the process, insist the experts. One aspect not to be ignored is the often high and sometimes hidden in-house costs of managing outsiders. ,Knowledge,at,Australian,School,of,Business,Australia,UNSW,ASB,Outsourcing,contract,suppliers,productivity Wed, 08 Aug 2012 09:09:54 -0800 A7265210-E0E3-11E1-AD2B0050568336DC Integrated Reporting: It's Streamlined - But Will the Benefits Outstrip the Costs? UNSWTV In his online report, prominent Australian shareholder activist Stephen Mayne listed 16 major businesses that were solvent when audited in 2010 but went bust shortly after. No wonder there's widespread dissatisfaction with traditional annual reports as indicators of an organisation's true position, shouted business pundits. However, this may all change next year with a new reporting format designed to meet the needs of a more sustainable, globalised 21st century world. "Integrated reporting" combines social, environmental and governance information with financial reports to tell a concise, coherent story about an organisation. Roger Simnett, an accounting professor at the Australian School of Business, who's on the international taskforce charged with creating a better reporting framework, says the big challenge in the switch to a more integrated approach is in convincing companies that its benefits will outweigh the costs. ,k,ASB,Knowledge,Australian,School,of,Business,Australia,UNSW,KASB,at,intergrated,reporting,annual,report Wed, 08 Aug 2012 09:07:47 -0800 AD556B80-E0E3-11E1-AD2B0050568336DC HSBC Australia's chief Paulo Maia: A Positive Prognosis for the Asian Century UNSWTV Despite signs of a dramatic slowdown in Asia, HSBC – one of the world's largest banks and the world's second largest public company by market capitalisation – is bullish on the long-term future of the region. Australian companies are already leveraging the economic growth of Asia, and Paulo Maia, chief executive of HSBC Australia, predicts there will be plenty more opportunities in the Asian century. He's looking beyond China and India to the growth markets of Malaysia, Indonesia, Vietnam and the Philippines and to a truly global world where foreign exchange will play a crucial role with even very small businesses trading in multiple currencies. ,UNSW,ASB,Knowledge,Australian,School,of,Business,HSBC,Paulo,Maia,CEO,Australia,Banks,Asia,Asian,Century,Malaysia,Indonesia,Vietnam,Philippines,China,India Tue, 21 Aug 2012 18:56:01 -0800 F1E35E70-EB4B-11E1-B8F90050568336DC HSBC Australia's chief Paulo Maia: A Positive Prognosis for the Asian Century UNSWTV Despite signs of a dramatic slowdown in Asia, HSBC – one of the world's largest banks and the world's second largest public company by market capitalisation – is bullish on the long-term future of the region. Australian companies are already leveraging the economic growth of Asia, and Paulo Maia, chief executive of HSBC Australia, predicts there will be plenty more opportunities in the Asian century. He's looking beyond China and India to the growth markets of Malaysia, Indonesia, Vietnam and the Philippines and to a truly global world where foreign exchange will play a crucial role with even very small businesses trading in multiple currencies. ,UNSW,ASB,Knowledge,Australian,School,of,Business,HSBC,Paulo,Maia,CEO,Australia,Banks,Asia,Asian,Century,Malaysia,Indonesia,Vietnam,Philippines,China,India Tue, 21 Aug 2012 15:08:41 -0800 232EB150-EB4C-11E1-B8F90050568336DC The Rise of the Compassionate Leader: Should You Be Cruel to Be Kind? UNSWTV Research shows that the trait of compassion in managers and leaders is linked to an organisation's profitability and productivity. However, the important distinction between "compassion" and "kindness" needs to be understood, insists author and leadership expert Geoff Aigner. Leaders demonstrate compassion by taking an honest interest in the positive growth of employees and themselves – and this includes having difficult conversations to ensure development stays on track. On its own, kindness can be short term and may be counter-productive – a thought-provoking notion for Australian managers who like to be mates with their staff. ,UNSW,ASB,Knowledge,Australian,School,of,Business,Compassion,Leadership,manager,managers,cruel,kind,leader,Australia Tue, 21 Aug 2012 15:05:58 -0800 30041000-EB4C-11E1-B8F90050568336DC Devolution Revolution: Will Fewer Fat Cats Help to Keep the Customers Satisfied? UNSWTV A devolution revolution is underway as governments across Australia seek to make frontline public servants more autonomous. It's a backlash to the command-and-control style of bureaucrats and policy makers who, experts say, are too far removed to know what their "customers" really want or need. Gary Sturgess, the inaugural Premier's Australian and New Zealand School of GovernmentChair in Public Service Delivery at the University of New South Wales, is leading research into how to make the public service more customer-centric. The former state cabinet secretary says giving greater discretion to frontline public servants – and cutting the middle level of controlling bureaucrats – could shave 20% off government budgets. ,UNSW,ASB,Australian,School,Business,Knowledge,devolution,revolution,customer,service,government,australia Tue, 21 Aug 2012 15:02:01 -0800 43C4FA50-EB4C-11E1-B8F90050568336DC Intergenerational Equity: Can We Lighten the Load on the Young? UNSWTV Intergenerational solidarity is vital for building a fairer future. Mutual support across the generations makes the world a better place for everyone – old, young and in-between – but demographic trends are throwing the balance out of whack. As populations age, fewer babies and longer lives look set to place onerous financial and societal stress on the young. So, will older generations be considered a burden on society? At a meeting of OECD social policy ministers, John Piggott, a professor of Economics at the Australian School of Business, outlined three key areas where policymakers can be proactive in redressing the imbalance. ,UNSW,ASB,Knowledge,Australian,School,Business,Intergenerational,generation,equity,money,family,grandparents,population,ageing Tue, 21 Aug 2012 14:59:32 -0800 5A215000-EB4C-11E1-B8F90050568336DC A Mindshift on Obesity: Rethinking the Costly Epidemic UNSWTV There are many preconceived ideas about obesity, but a new University of New South Wales' research paper has debunked the myths that it's all about lack of willpower or lousy lifestyle choices. Obesity presents a high cost to the public purse, employers and individuals. With almost 30% of Australians now classified as obese, the epidemic requires new solutions – and fast. A trial of cognitive remediation therapy now underway looks likely to present some leads to complement the boss's standard fitness incentives, such as a corporate gym membership or cycling club. Conquering the battle of the bulge may be more about changing the way we think, suggest the researchers. ,obesity,public,health,workplace,employment,hr,epidemic,cognitive,function,remediation,fitness,knowledge,australian,school,business,asb,unsw Tue, 08 Nov 2011 10:22:20 -0800 47CEB8E0-0996-11E1-832C0050568336DC Knowledge@ASB: Super Beyond Cooper UNSWTV Some key recommendations from former regulator Jeremy Cooper's long-awaited review of Australia's superannuation system look set to fly. The federal government has already given the nod to the default option, known as MySuper, to take care of the vast majority of Australians who show zero interest in their retirement savings, until it's way too late. Cooper had no ready answer to the underlying issue of super investors' widespread disengagement, and there's a risk his recommendations may further exacerbate it. In an interview with Knowledge@Australian School of Business, John Piggott and Hazel Bateman of the Australian Institute for Population Ageing Research consider the impact of the review on a nation where workers have no choice about whether or not to join a super scheme, and potentially so many confusing choices afterwards. superannuation,population,ageing,John,Piggott,AIPAR,hazel,bateman,Knowledge@Australian School of Business, Australian School of Business,UNSW Wed, 14 Jul 2010 12:27:58 -0800 877B7000-8EDB-11DF-88950050568336DC Transfer Pricing and IP Location: Research Reveals the Real Motivators UNSWTV Revelations that Google paid only A$74,000 in Australian taxes last year, despite generating around A$1.1 billion from local customers, have put the spotlight on multinationals and taxation. With the federal government's newly updated transfer-pricing rules, which affect the way corporations can shift profits between countries, there's a sharper eye on where organisations locate intangible assets, such as intellectual property (IP). Research by Michael Walpole of the Australian School of Business and Nadine Riedel of Oxford University finds tax authorities can be overly suspicious of what motivates companies in their choice of IP location. Their decisions may be influenced by far more than tax. ,Knowledge,Australian,School,Business,ASB,UNSW,Google,IP,Intellectual,Property,Australia,Taxes,Tax,intangible,assets Tue, 04 Sep 2012 10:57:51 -0800 00379ED0-F62A-11E1-A1810050568336DC The Freelance Imperative: IBM Blazes the Trail for a Liquid Workforce UNSWTV In the brave new world of work, only executives with strategic roles and those who interface with clients may have regular jobs as the remaining workforce jostles for position in the "talent cloud". In a radical restructuring of its German workforce, international tech giant IBM is a trailblazer with a more flexible approach. Big Blue plans to pick and choose between freelance workers who will market themselves, project-by-project, via a professional eBay-style platform. This new model will not only cut costs and have clear implications for managers. Experts say it will also make workers' future employment more dependent than ever on digital profiles. ,Knowledge,Australian,School,Business,ASB,UNSW,talent,cloud,IBM,freelance,Germany,workforce Tue, 04 Sep 2012 10:58:25 -0800 046D3230-F62A-11E1-A1810050568336DC Avoiding Moral Hazard When Banks Are on the Brink UNSWTV Experts predict that panic will bring the world economy to a standstill if the euro collapses and Australia will not go unscathed, even though it is financially strong.The federal government's decision to continue a banking guarantee is designed to stop the alarming bank runs that characterised the onset of the 2008 financial crisis, but the scheme that backs individual retail bank accounts up to A$250,000 is highly controversial. Is it just a gift to the Big Four banks that may incite moral hazard through riskier behaviour? Ross Buckley, a professor of finance law at the University of New South Wales, believes banks should be funding their own future stability. ,Knowledge,Australian,School,Business,ASB,UNSW,economy,Australia,GFC,Global,Financial,Crisis,Bank,guarantee,future Tue, 04 Sep 2012 10:53:29 -0800 08EC9FD0-F62A-11E1-A1810050568336DC Lunchtime Legends: The Ins and Outs of Workday Breaks UNSWTV How important is a lunch break for avoiding productivity-sapping fatigue levels in the afternoon? Research shows that those who doze or just sit quietly tend to be better off than individuals who spend their lunchtime in the company of colleagues. And what of those who sit it out altogether, instead using their lunch "break" to get on top of work while they grab a quick bite at their desks? According to management researcher John Trougakos, their fate depends largely on whether they work through lunch under duress or by choice. He argues that the longest and most important break in the working day needs greater understanding. ,Knowledge,Australian,School,Business,Australia,UNSW,Lunch,Break,Breaks,Productivity,lunchtime,ASB Tue, 04 Sep 2012 10:51:29 -0800 12488F30-F62A-11E1-A1810050568336DC VIDEO - Nicholas Moore CEO Macquarie Group - How To Manage Risk UNSWTV Macquarie Group has surplus capital on the balance sheet and continues to seek businesses which meet its acquisition criteria, as chief executive Nicholas Moore highlighted at the annualgeneral meeting of Australia's only listed investment bank in July. In the wake of the financial crisis, the group made successful acquisitions in funds management but – with its sharp eye on shareholder value and the risk-return equation – finds quality assets are in short supply. Volatile times may have impacted the home-grown financial giant, which now operates in 28 countries, but as Moore explains in an exclusive interview with Knowledge@Australian School of Business, Macquarie's risk management framework has served it well through a range of market cycles. ,Australia,Business,Sydney,educational,International,Nicholas,Moore,CEO,Macquarie,Group,Chief,Executive,assets,Knowledge,ASB,Australian,School,of,risk Thu, 20 Sep 2012 10:10:00 -0800 2CE72FB0-0131-11E2-ABFD0050568336DC Digital Dilemma: Do You Really Need an App? UNSWTV The global buzz around the release of Apple's iPhone 5 highlights the widespread adoption of mobile devices and, with it, the proliferation of purpose-built software applications, or apps. Presently, 18% of Australian businesses offer a mobile app, but in a recent survey more than half of the participants said they planned to develop one within the next five years. For companies getting app-happy, it's not just a case of dishing up what they think will be good for users. Experts insist that app success depends on ensuring the relevance of the offering and its functionality. Co-creation is the name of the game. The activities of banks and media players make them natural-born app purveyors, but less digitally adept businesses are also benefiting from app-ing it up. ,Knowledge,AustralianSchoolofBusiness,Australian,school,business,ASB,UNSW,App,Application,phone,iPhone,Android,Samsung,HTC,Nokia,mobile Wed, 19 Sep 2012 12:02:23 -0800 89A5A6D0-01FB-11E2-ABFD0050568336DC AUDIO - Macquarie Group CEO Nicholas Moore: How Australia's Biggest Investment Bank Covers Risk UNSWTV Macquarie Group has surplus capital on the balance sheet and continues to seek businesses which meet its acquisition criteria, as chief executive Nicholas Moore highlighted at the annual general meeting of Australia's only listed investment bank in July. In the wake of the financial crisis, the group made successful acquisitions in funds management but – with its sharp eye on shareholder value and the risk-return equation – finds quality assets are in short supply. Volatile times may have impacted on the home-grown financial giant, which now operates in 28 countries, but as Moore explains in an exclusive interview with Knowledge@Australian School of Business, Macquarie's risk management framework has served it well through a range of market cycles. ,australian,school,business,ASB,UNSW,Knowledge,AustralianSchoolofBusiness,Macquarie,Group,risk,Nicholas,Moore,CEO,investment,management Thu, 20 Sep 2012 10:09:39 -0800 993347B0-01FB-11E2-ABFD0050568336DC Seeing Double: Can Accountants Foster Revolution? UNSWTV There's an international effort to factor sustainability into financial reporting. Concurrent with calls for this fundamental reassessment of accounting is the work of an Australian-based writer who has taken one of the rudiments of number crunching – double-entry bookkeeping – and suggested it has a lot to answer for. With her book, Double Entry, Jane Gleeson-White has provoked debate about the merits of a method established more than 500 years ago that remains a standard technique today. She argues that for too long accounting has been oblivious to important intangibles, such as human relationships and the quality of the environment, and she’s sceptical about the seriousness of governments to do something about it. ,knowledge,australian,school,business,ASB,UNSW,double-entry,accounting,double,entry,bookkeeping,financial,reporting,methods Wed, 19 Sep 2012 11:57:58 -0800 A2BF20B0-01FB-11E2-ABFD0050568336DC Driving Down Costs: Toyota Takes Lean Efficiencies Beyond Japan UNSWTV Until recently, Toyota had long been the world's top car-maker and it rose to that position by using lean production methods. Its Toyota Production System, which pivots on continuous improvement and respect for people, became a best-practice management phenomenon, copied by many in a wide range of sectors. But questions have arisen over such silver-bullet theories of business excellence. And what happens when a proven and spectacularly successful method is moved to a different business environment outside Japan? Researchers from the Australian School of Business have been exploring the upshot of Toyota's manufacturing shift to Thailand, a lower-wage economy with less consideration for its labour force. ,knowledge,australian,school,business,ASB,UNSW,Toyota,car,maker,production,line,system,TPS,lean,Thailan,Japan,manufacturing Wed, 19 Sep 2012 11:55:01 -0800 AC51FE90-01FB-11E2-ABFD0050568336DC The Qantas Dispute: A Long Haul with Many Rough Landings Ahead? UNSWTV Qantas management's decision to bring an industrial dispute to a head by grounding the national carrier's entire fleet was ill-advised and will result in further widespread fallout, insist experts from the Australian School of Business. The airline that tags itself the "Spirit of Australia" may be flying again and trying to appease thousands of inconvenienced passengers with free flights, but the effect of the action was felt across the globe. In Australia, the already-challenged tourism industry is yet to measure its consequences. Has a rash decision hastened embattled Qantas' demise? Or will the damaged once-illustrious brand navigate through the extreme turbulence ahead? ,qantas,strike,industrial,action,dispute,grounding,fleet,deregulation,airlines,tourism,government,public,protectionism,knowledge,australian,school,business,asb,unsw Tue, 08 Nov 2011 15:27:17 -0800 893CD930-09C1-11E1-832C0050568336DC VIDEO - IMF Insights: Finding the Right Position for Australia in the Asian Century UNSWTV Australia, with its sound and well-managed financial system, stands to reap significant benefits from the economic growth in Asia. But a key question remains: how should Australia position itself in the Asian century? Reaching a consensus on this is crucial, according to Masahiko Takeda, deputy director of the International Monetary Fund in the Asia Pacific, and the fund’s division chief, Cheng Hoon Lim. The IMF experts acknowledge that the Aussie dollar is presently overvalued. Nonetheless, at a recent University of New South Wales forum, they insisted that there are plenty of potential opportunities for Australia in the Asian region. ,Asia,Continent,Australia,Asian,Century,Knowledge,Australian,School,of,Business,ASB,UNSW,IMF,International,Monetary,Fund,Cheng,Hoon,Lim,Masahiko,Takeda,Economy,Economic,Growth,GFC,Global,Financial,Crisis Thu, 04 Oct 2012 09:36:55 -0800 39351D10-0CF1-11E2-96750050568336DC VIDEO - Expert Opinion: How To Move On From an Economic Meltdown UNSWTV Many of the world’s economies are still struggling to recover from the global financial crisis. The threat of a crisis Mark II is not out of the question, though it’s unlikely, says Anne Krueger, a former chief economist of the World Bank, and first deputy managing director of the International Monetary Fund from 2001 to 2006. Speaking at an Australian School of Business forum on global competitiveness, Krueger evaluates efforts to untangle the aftermath of the crisis and determines that there has been too little action, too late. ,Economy,Asia,Continent,Australia,Asian,Century,Knowledge,ASB,Australian,School,of,Business,UNSW,IMF,International,Monetary,Fund,Economic,Growth,GFC,Global,Financial,Crisis,Finsia,Forum,Anne,Krueger,2007,2012,Film,Subject,Conference,Sydney,World,Bank Thu, 04 Oct 2012 09:37:26 -0800 38AE0400-0CF7-11E2-96750050568336DC IMF Insights: Finding the Right Position for Australia in the Asian Century UNSWTV Australia, with its sound and well-managed financial system, stands to reap significant benefits from the economic growth in Asia. But a key question remains: how should Australia position itself in the Asian century? Reaching a consensus on this is crucial, according to Masahiko Takeda, deputy director of the International Monetary Fund in the Asia Pacific, and the fund’s division chief, Cheng Hoon Lim. The IMF experts acknowledge that the Aussie dollar is presently overvalued. Nonetheless, at a recent University of New South Wales forum, they insisted that there are plenty of potential opportunities for Australia in the Asian region. ,UNSW,ASB,K,Knowledge,AustralianSchoolofBusiness,Australian,School,Business,Economy,economies,IMF,International,Monetary,Fund,World,Bank,Masahiko,Takeda,Cheng,Hoon,Lim,GFC,Global,Financial,Crisis Wed, 03 Oct 2012 18:18:30 -0800 23BF5830-0D30-11E2-96750050568336DC Expert Opinion: How To Move On From an Economic Meltdown UNSWTV Many of the world’s economies are still struggling to recover from the global financial crisis. The threat of a crisis Mark II is not out of the question, though it’s unlikely, says Anne Krueger, a former chief economist of the World Bank, and first deputy managing director of the International Monetary Fund from 2001 to 2006. Speaking at an Australian School of Business forum on global competitiveness, Krueger evaluates efforts to untangle the aftermath of the crisis and determines that there has been too little action, too late. ,UNSW,ASB,K,Knowledge,AustralianSchoolofBusiness,Australian,School,Business,Economy,economies,IMF,International,Monetary,Fund,Anne,Krueger,World,Bank,GFC,Global,Financial,Crisis Wed, 03 Oct 2012 18:16:45 -0800 311F1C90-0D30-11E2-96750050568336DC Maximising Workforce Potential: How to Manage With a Growth Mindset UNSWTV Will business stars always outperform the average Joes? Is it possible to teach old dogs new tricks? For decades, researchers have analysed how fixed mindsets affect the academic achievement of children and students. Now, new work led by Peter Heslin, a professor at the Australian School of Business, reveals the implications of mindsets in organisations. Heslin says a manager with a growth mindset can harness workforce potential and make a substantial positive difference within an organisation. ,UNSW,ASB,K,Knowledge,AustralianSchoolofBusiness,Australian,School,Business,Potential,Growth,Mindset,thought,process,idea,ideas Wed, 03 Oct 2012 18:14:46 -0800 3D120A80-0D30-11E2-96750050568336DC Corporate Social Responsibility: A Fig Leaf for Capitalism or Path to a Better World? UNSWTV Australian tobacco companies tick all the corporate social responsibility (CSR) boxes on their websites. Yet recent court actions against plain packaging of cigarettes suggest profits take precedence over harm reduction – and the companies are continuing their fight with an appeal to the World Trade Organisation. The profit motive can feed criticism that CSR is a marketing exercise. Ajnesh Prasad, from the Australian School of Business, questions whether some corporations are using CSR as a means to enhance their bottom lines rather than for social good. ,UNSW,ASB,K,Knowledge,AustralianSchoolofBusiness,Australian,School,Business,Tobacco,CSR,Corporate,Social,Responsibility Wed, 03 Oct 2012 18:13:00 -0800 4A0D8ED0-0D30-11E2-96750050568336DC The Right Stuff: One Man's Mission to Make Leaders Reach for the Moon UNSWTV "Be yourself" is the crucial message for leaders today, according to Alex Malley, CEO of professional accounting body, CPA Australia. Malley says that too many leaders are turning away when the heat is on, and across the world there's a need for visionaries who can inspire all stakeholders and lead by example. One vital quality in successful leaders is the courage - or strength of character - to fail. In an exclusive interview, Malley shares insights on key issues, including the high risk of being overly cautious and the importance of hiring people who are smarter than you. In the process, he pins down the reasons behind Australia's productivity lag. ,knowledge,australianschoolofbusiness,ASB,K,UNSW,Australian,School,Business,Alex,Malley,CPA,Australia,Accounting,Accountants,Leader,CEO Tue, 16 Oct 2012 17:25:52 -0800 510F2C20-1744-11E2-96750050568336DC New Marketing Rules: When Social Media Spins Out of Control UNSWTV Recent decisions by the Advertising Standards Board and the ACCC put the onus clearly on organisations to take responsibility for user comments posted on their Facebook pages and other social media platforms. Corporations are outraged at the prospect of having to spend more on monitoring or even outsourcing management of their social media presences. Experts suggest social media audits and crisis plans are now essential. The overarching message is clear: Do it well or not at all. The alternative is risking breaching the law or facing damning evidence of "a site full of complaints, where you can accurately measure how much people hate you", warns Alan Thorogood of the Australian School of Business. ,knowledge,australianschoolofbusiness,ASB,K,UNSW,Australian,School,Business,ACCC,Social,media,network,networks,Facebook,Twitter Tue, 16 Oct 2012 17:20:01 -0800 57F5D5C0-1744-11E2-96750050568336DC Superannuation Funds: Why Size Matters UNSWTV The size of a superannuation fund certainly affects its performance. New research demonstrates how big funds benefit from economies of scale through better gross investments, lower investment expenses and lower operating costs. Typically, not-for-profit industry funds are the winners, clearly outstripping their retail counterparts. Industry experts, however, suggest investors be mindful of exceptions to the rule. So why do members plug on with lower-return smaller funds? Lack of insight and interest keep them hanging in by default. But the good news is that almost all super funds look set to grow with the incremental shift in compulsory super contributions from the present 9% to 12%. ,knowledge,australianschoolofbusiness,ASB,K,UNSW,Australian,School,Business,super,superannuation,economies,scale,retail,industry Tue, 16 Oct 2012 17:18:22 -0800 60F4FF20-1744-11E2-96750050568336DC Risk Modelling: Is the Response to the New Complexity Really So Simple? UNSWTV Risk modelling requires a radical revamp for the post-GFC economic environment. Oddly enough, the new complexity seems to demand a more simplistic approach to factoring in uncertainty. Focusing excessively on detail may increase the risk of missing the obvious, warns Andries Terblanche, a professor at the Australian School of Business and chair of financial services at Big Four accountancy firm, KPMG. Remodelling risk is controversial and Terblanche admits that a single, comprehensive model remains elusive. Meanwhile, as instability prevails across the global economy, debate over rethinking risk continues. ,knowledge,australianschoolofbusiness,ASB,K,UNSW,Australian,School,Business,Risk,Model,Management,KPMG,economy Tue, 16 Oct 2012 16:34:07 -0800 691B2DA0-1744-11E2-96750050568336DC The Right Stuff: One Man's Mission to Make Leaders Reach for the Moon UNSWTV "Be yourself" is the crucial message for leaders today, according to Alex Malley, CEO of professional accounting body, CPA Australia. Malley says that too many leaders are turning away when the heat is on, and across the world there's a need for visionaries who can inspire all stakeholders and lead by example. One vital quality in successful leaders is the courage - or strength of character - to fail. In an exclusive interview, Malley shares insights on key issues, including the high risk of being overly cautious and the importance of hiring people who are smarter than you. In the process, he pins down the reasons behind Australia's productivity lag. ,ASB,K,Australian,School,Business,UNSW,Knowledge,Alex,Malley,CPA,Australia,Accounting,Leader,Young,CEO Wed, 17 Oct 2012 13:14:01 -0800 C505F7C0-1763-11E2-96750050568336DC VIDEO - Catherine Harris on Leading Harris Farm Markets UNSWTV What entrepreneur wouldn't dream of turning a single store into a thriving chain of outlets? Few succeed, but someone who has is Catherine Harris, chair of Harris Farm Markets. With her husband David as CEO, Catherine co-founded the business in 1972 with a small fruit and vegetable shop in the western Sydney suburb of Villawood. It has since grown into an operation with a chain of 22 stores and three butchers across the state of New South Wales and more than 1000 employees. Harris Farm Markets was a trailblazer in being the first Australian fresh produce business to serve its customers in the style of a supermarket. From the start, the family-run concern has bought its goods from the Sydney Markets at Flemington, near the site of the 2000 Olympics. Harris Farm Markets continues to be based there. Catherine Harris has maintained a close association with the University of New South Wales since completing her degree in the late 1960s at what was then the faculty of commerce, which is now the Australian School of Business. An Officer of the Order of Australia, Catherine has held other prominent directorships and sat on a number of boards. She is currently a commissioner of the Australian Rugby League and Honorary Consul General for Bhutan. Tue, 05 Feb 2013 22:26:00 -0800 3AEB6310-6F5E-11E2-AA8A0050568336DC Here's to the Crazy Ones: The Pleasure and Pain of the Business Maverick UNSWTV Bold and creative maverick leaders tend to deliver great innovations and breakthroughs. At the same time, they are highly disruptive, disturbing to work for and, by nature, definitely not team players. In business, it seems we can’t live with them and can’t live without them, as many who encountered Apple founder, Steve Jobs, have attested. New research from the Australian School of Business delves into the personality traits and risk-taking behaviour of mavericks and finds the case for understanding the visionary nonconformist, while also carefully managing those within their influence. Tue, 05 Feb 2013 18:41:33 -0800 2AAAA530-6F66-11E2-AA8A0050568336DC Inside Story: Breaking New Ground in Managing Risk UNSWTV Corporate risk management has traditionally focused on mitigating the impact of external factors over which a company has no control. But what about internal factors? Australian School of Business professor Lex Donaldson has developed Organisational Portfolio Analysis (OPA), a new approach that identifies the risks within a company's individual business units and reveals how their fluctuations interact with overall company risk and performance. OPA can deliver fresh insights into the dynamics and behaviour of a corporation. By better understanding sources of corporate risk, they can be managed and used to drive profits. Tue, 05 Feb 2013 18:40:46 -0800 3026E960-6F66-11E2-AA8A0050568336DC Family Values: Catherine Harris on Leading the Harris Farm Markets UNSWTV What entrepreneur wouldn't dream of turning a single store into a thriving chain of outlets? Few succeed, but someone who has is Catherine Harris, chair of Harris Farm Markets. With her husband David as CEO, Catherine co-founded the business in 1972 with a small fruit and vegetable shop in the western Sydney suburb of Villawood. It has since grown into an operation with a chain of 22 stores and three butchers across the state of New South Wales and more than 1000 employees. Harris Farm Markets was a trailblazer in being the first Australian fresh produce business to serve its customers in the style of a supermarket. From the start, the family-run concern has bought its goods from the Sydney Markets at Flemington, near the site of the 2000 Olympics. Harris Farm Markets continues to be based there. Catherine Harris has maintained a close association with the University of New South Wales since completing her degree in the late 1960s at what was then the faculty of commerce, which is now the Australian School of Business. An Officer of the Order of Australia, Catherine has held other prominent directorships and sat on a number of boards. She is currently a commissioner of the Australian Rugby League and Honorary Consul General for Bhutan. Tue, 05 Feb 2013 18:39:45 -0800 3DCBCD10-6F66-11E2-AA8A0050568336DC Roll Up, Roll Up: There's No Business Like Festival Business UNSWTV The hundreds of festivals staged in Australia every year generate significant revenue, not just for organisers and performers, but for the wider economy. They also play an important cultural role in bringing communities together. Discovering how successful festivals work and ways the experience can be improved - and with that profits - has become an exercise for academic minds. Australian School of Business lecturer Jenny (Jiyeon) Lee has been researching crowd loyalty and says that building social and emotional ties through shared experiences is a key factor. Festivals are applying modern event-design techniques to positively influence an audience’s motivation, participation and satisfaction. It's all about keeping the crowds coming back for more. Tue, 05 Feb 2013 18:38:29 -0800 4B6231D0-6F66-11E2-AA8A0050568336DC VIDEO - Future Shocks: Dan Levinthal on Sustaining Competitive Advantage UNSWTV Dan Levinthal is a professor of management at the Wharton School at the University of Pennsylvania. He is also the Michael Crouch Visiting Professorial Fellow at the Australian School of Business where he will be giving a series of talks on innovation and the experimenting organisation. Levinthal says that companies seeking to foster new possibilities need a mix of discipline and some element of tolerance for at least partial failure. It is about balancing exploration and exploitation. Levinthal recently spoke with Knowledge@Australian School of Business. Tue, 19 Feb 2013 20:44:00 -0800 F5268260-7A20-11E2-AA8A0050568336DC Journalism in the Digital Crossfire: Who Will Pay for the News? UNSWTV With declining revenues and competition from online resources and social media, traditional newspapers and even digital news sites are in transition, according to new research from the Australian School of Business. The forms that news sources will take in the future is as yet unknown, but the ability to track user trends online will certainly shape their evolution and the survival of conventional newspapers is not assured. Local papers and specialist sites are expected to survive, but how will the civic role of news reporting be funded? Tue, 19 Feb 2013 17:32:27 -0800 7391C890-7A5C-11E2-AA8A0050568336DC Future Shocks: Dan Levinthal on Sustaining Competitive Advantage UNSWTV Dan Levinthal is a professor of management at the Wharton School at the University of Pennsylvania. He is also the Michael Crouch Visiting Professorial Fellow at the Australian School of Business where he will be giving a series of talks on innovation and the experimenting organisation. Levinthal says that companies seeking to foster new possibilities need a mix of discipline and some element of tolerance for at least partial failure. It is about balancing exploration and exploitation. Levinthal recently spoke with Knowledge@Australian School of Business. Tue, 19 Feb 2013 17:30:01 -0800 84CA8160-7A5C-11E2-AA8A0050568336DC Innovate or Bust: Creating Business Cultures Open to Change UNSWTV What does it take to be innovative in a changing global economy? That was a key question posed at the 35th-anniversary conference of the Australian Graduate School of Management. A highlight of the conference was three business leaders – Gerhard Vorster, chief strategy officer at Deloitte Australia and Asia Pacific; Andrew Stevens, managing director of IBM Australia and New Zealand; and George Frazis, CEO of St George Banking Group - sharing their insights into embracing the challenges of innovation, now and into the future. Tue, 19 Feb 2013 17:28:59 -0800 96E55CD0-7A5C-11E2-AA8A0050568336DC Captured By Carbon: Why An Emissions Trading Scheme Needs a Floor Price UNSWTV The Australian government plans to link its fixed-priced system for tackling climate change to the emissions trading scheme (ETS) of the European Union (EU). Meanwhile, the Europeans are wondering whether a straight and predictable carbon tax such as Australia's would not have been more efficient for them in the first place. The EU's floating carbon price has fallen to levels where it's more profitable for some businesses to keep polluting than to invest in green technology and it's apparent that too many emissions rights have been issued. Regina Betz, joint director at the Centre for Energy and Environmental Markets at the Australian School of Business, says an effective ETS needs to include a floor price for carbon to limit intervention from politicians and thereby provide certainty for business. Tue, 19 Feb 2013 17:27:33 -0800 A69E0550-7A5C-11E2-AA8A0050568336DC VIDEO - New Order: Tim Steele on the Future of Financial Planning UNSWTV The collapse of a number of financial planning firms in recent years has dented consumer confidence in financial advisers, but changes are afoot. The government has tackled conflicts of interest with its Future of Financial Advice reforms and the Australian Securities and Investment Commission has proposed a national exam as an industry qualification. Moves to lift educational requirements for financial planners had already been signalled by the industry. This year, the Australian School of Business (ASB) commenced degree courses in financial planning and has responded to an approach from Tim Steele, director of AMP's Horizons Academy, which trains and licenses that company's financial planners. Under a new agreement, eligible graduates from AMP's Horizons program will be able to gain academic credit towards further study at the ASB. Steele recently spoke with Knowledge@Australian School of Business. Wed, 01 May 2019 07:05:30 -0800 97850B70-8521-11E2-AA8A0050568336DC Effecting Change: How Allowing For Failure Leads to Success UNSWTV The sustainability of an organisation, particularly in times of economic turmoil, is often seen as directly related to its ability to innovate and implement change. But how organisations perceive and react to failure – their failure orientation – is also integral to ongoing viability. According to Australian School of Business associate professor Gavin Schwarz, firms that recognise failure as a stabilising force and as a legitimate aspect of organisational survival will find this perspective can have a positive influence on the overall behaviour of their organisations and, with it, future prospects. Wed, 06 Mar 2013 11:41:37 -0800 4A9C86B0-85F5-11E2-AEA10050568336DC Health in a Handset: How Mobile Technology is Good Medicine for the Asia-Pacific UNSWTV The global popularity of mobile phones is being harnessed in the delivery of healthcare services (mHealth) to remote locations with scarce resources. In Bangladesh, mHealth is used for communicating with patients and doctors, delivering expert advice, collecting information in public health campaigns, even self-testing by patients. Pradeep Ray, a professor of information technology at the Australian School of Business, says Bangladesh is leading the world in providing mHealth-based services and that research he's leading into community acceptance there will benefit other developing countries. Meanwhile, in the developed world, mHealth can be a cost-effective tool in the allocation of stretched health budgets trying to cope with an ageing population and chronic conditions. Wed, 06 Mar 2013 11:40:28 -0800 53413400-85F5-11E2-AEA10050568336DC New Order: Tim Steele on the Future of Financial Planning UNSWTV The collapse of a number of financial planning firms in recent years has dented consumer confidence in financial advisers, but changes are afoot. The government has tackled conflicts of interest with its Future of Financial Advice reforms and the Australian Securities and Investment Commission has proposed a national exam as an industry qualification. Moves to lift educational requirements for financial planners had already been signalled by the industry. This year, the Australian School of Business (ASB) commenced degree courses in financial planning and has responded to an approach from Tim Steele, director of AMP's Horizons Academy, which trains and licenses that company's financial planners. Under a new agreement, eligible graduates from AMP's Horizons program will be able to gain academic credit towards further study at the ASB. Steele recently spoke with Knowledge@Australian School of Business. Wed, 06 Mar 2013 11:39:26 -0800 5BD9FA70-85F5-11E2-AEA10050568336DC Going Dutch: Tourism and the Resources Boom UNSWTV According to Larry Dwyer from the Australian School of Business, the recent lean years for Australian tourism can be seen as Dutch Disease, a term coined during the 1970s when the discovery of gas deposits in The Netherlands led to an appreciation of the domestic currency at the expense of other local industries. Growth is returning to Australian tourism with more visitors coming from China than from the traditional market of Britain and resumed interest from the US. But Dwyer notes that a slowdown in investment has led to a lack of innovation, resulting in a tired product. Australia is one of the world's most expensive destinations, but is it really geared up to deliver quality experiences for visitors? Wed, 06 Mar 2013 11:37:55 -0800 658E6A10-85F5-11E2-AEA10050568336DC Cognitive Dissonance: John Sterman on Understanding Climate Change UNSWTV Climate change is a complex problem. Even bright minds become confused when simultaneously presented with consequences that are potentially catastrophic and the feeling that there’s nothing they can do about it. But there are ways of reducing carbon dioxide in the atmosphere and it's how we think about global warming that seems to be impeding action. <a href="http://jsterman.scripts.mit.edu/" target="_blank">John Sterman</a>, a professor of management at the Massachusetts Institute of Technology and Michael J. Crouch Visiting Professor at the <a href="http://www.asb.unsw.edu.au/Pages/default.aspx" target="_blank">Australian School of Business</a>, has been studying why people have difficulty understanding the dynamics of the climate. He sees a way to reframe the issue and has devised simulation tools to assist in forming opinions and policies consistent with people's values. Sterman recently spoke with Knowledge@Australian School of Business. Tue, 19 Mar 2013 19:24:00 -0800 1E0348C0-903E-11E2-955A0050568336DC Aggressive Bytes: Counting the Cost of Cyber Crime UNSWTV According to Alana Maurushat from the Cyberspace Law and Policy Centre at the University of New South Wales, computers are the weapon of choice for industrial espionage and hacking incidents are more widespread than reported. The European Commission estimates the worldwide damage to business from cyber crime at US$1 trillion annually. Governments across the globe are stepping up efforts to strengthen cyber security, but will it be enough? Maurushat urges increased public awareness, proper risk analysis and mandatory reporting of certain breaches to share intelligence. She also says the IT industry needs to be held liable for its product quality. Local cyber-detectives warn that under-resourcing leaves Australia vulnerable. Tue, 19 Mar 2013 18:31:01 -0800 0D003EC0-9066-11E2-955A0050568336DC Cognitive Dissonance: John Sterman on Understanding Climate Change UNSWTV Climate change is a complex problem. Even bright minds become confused when simultaneously presented with consequences that are potentially catastrophic and the feeling that there’s nothing they can do about it. But there are ways of reducing carbon dioxide in the atmosphere and it's how we think about global warming that seems to be impeding action. John Sterman, a professor of management at the Massachusetts Institute of Technology and Michael J. Crouch Visiting Professor at the Australian School of Business, has been studying why people have difficulty understanding the dynamics of the climate. He sees a way to reframe the issue and has devised simulation tools to assist in forming opinions and policies consistent with people's values. Sterman recently spoke with Knowledge@Australian School of Business. Tue, 19 Mar 2013 18:30:12 -0800 1488F4C0-9066-11E2-955A0050568336DC Health Insurance: Better Modelling Unravels Contradictory Choices UNSWTV With trends that seem counter-intuitive, predicting the take-up of private health insurance can be tricky. People with private insurance are less likely to be in poor health and have fewer long-term health conditions than those who rely on the public system. But there are methods for modelling choice behaviours and policy-makers would do well to employ them, argues Michael Keane, an economics professor at the Australian School of Business. Attempts to control hospital waiting times through the private health insurance market are unlikely to be successful. Insurance take-up seems driven by the mixed motives of risk aversion, cognitive ability and income. Tue, 19 Mar 2013 18:28:34 -0800 1EF28390-9066-11E2-955A0050568336DC Unskilled and Unaware: Finding a Cure for Over-Confidence UNSWTV In a study of particular relevance to managers, Andreas Ortmann, a professor of experimental and behavioural economics at the Australian School of Business, has found that people at the lower end of the competence spectrum in any environment tend to over-estimate their talents in comparison to those around them. They are over-confident and unaware of it, a potentially disastrous combination in team leaders. But Ortmann says that with the right feedback, all but the least competent people can be calibrated to recognise their actual skills level and perform better as a consequence. And even the least competent can be helped, though it may take a lot longer. Tue, 19 Mar 2013 18:27:14 -0800 28E00490-9066-11E2-955A0050568336DC Bringing People Together: David Gonski on Life and Leadership - AUDIO UNSWTV David Gonski, chancellor of the University of New South Wales, sees his leadership strength as an ability to bring people together. But he notes that different people have different leadership skills and different qualities are needed at different times. Although his career has taken him to the pinnacle of business and to key roles for government and cultural organisations, Gonski has never lost sight of the need for personal modesty and respect for others. Or, as it emerges in this conversation with Australian School of Business dean Geoffrey Garrett: the best way to be a good leader is to be a good person. Wed, 08 May 2013 13:58:24 -0800 F30DC0A0-B78E-11E2-98590050568336DC Online Shopping: How China Leads the Boom at Virtual Checkouts UNSWTV Global growth in e-commerce is impressive, particularly in Asian countries where online shopping figures can astound. On a single day in 2012, Chinese e-commerce giant Alibaba.com rang up more than US$3 billion in sales. This year, China's e-commerce market is expected to become the world's largest. Felix Tan, from the Australian School of Business, says developed nations can learn from this striking success. Chinese e-commerce operators take a holistic view of business and gain an edge with strategic management practices. Investment in partners creates collaborators and the use of social media engages shoppers for the long term. “The customer experience is very community-based and is extremely rounded, very consolidated,” Tan says. Wed, 08 May 2013 13:58:05 -0800 F6800401-B78E-11E2-98590050568336DC Pollution Audit: Unravelling Choice in Greenhouse Gas Assurance UNSWTV Australia's federal Opposition intends to repeal carbon pricing laws if it wins this year's election. Yet, when it last held power in 2007, it introduced legislation requiring sizeable polluters to disclose the level of their greenhouse gas (GHG) emissions. Affected organisations have increasingly sought to verify their emissions figures and energy data, creating a niche market in GHG assurance. It's a field that's growing globally. So how is a quality provider selected? Researchers from the Australian School of Business have found that competence, ethics and integrity are key factors, but that specialisation does not, at this stage, command a higher price. Wed, 08 May 2013 13:58:37 -0800 FB720990-B78E-11E2-98590050568336DC Profits in the Balance: The Business Case for Work-Family Support UNSWTV New research from the Australian School of Business reveals a clear link between flexible work practices and better business results. The study, led by associate professor Julie Cogin, establishes incentives to deploy work-family support (WFS) programs as a source of competitive advantage, particularly to enhance customer-related outcomes. But the business case for WFS demands a genuine engagement with the concept in a receptive corporate culture. A high masculine orientation among senior management can eliminate the benefits. Even the best WFS policies will founder if an organisation lacks the commitment, or values, to promote flexibility in practice. Wed, 08 May 2013 13:58:49 -0800 FEDAB000-B78E-11E2-98590050568336DC Bringing People Together: David Gonski on Life and Leadership - VIDEO UNSWTV David Gonski, chancellor of the University of New South Wales, sees his leadership strength as an ability to bring people together. But he notes that different people have different leadership skills and different qualities are needed at different times. Although his career has taken him to the pinnacle of business and to key roles for government and cultural organisations, Gonski has never lost sight of the need for personal modesty and respect for others. Or, as it emerges in this conversation with Australian School of Business dean Geoffrey Garrett: the best way to be a good leader is to be a good person. Wed, 08 May 2013 18:16:37 -0800 56DC09C0-B794-11E2-AA4B0050568336DC Interact and Engage: Social Media Marketing and the Future of Advertising UNSWTV Technological progress is creating a new market reality in advertising with the emergence of a generation of engaged customers, says Liem Viet Ngo, from the Australian School of Business. Traditional television and print advertising is being increasingly supported – and sometimes replaced – by social media marketing and online campaigns where participation and sharing information are the norm. Are these new forms working? Ngo notes that measuring the return on investment of an online campaign remains a challenge for marketers, but one thing is clear: they should stop shouting and start listening. Industry experts suggest that trust is the new black. Wed, 22 May 2013 16:16:53 -0800 5EB0FEF0-C2A0-11E2-A7B00050568336DC Emotional Intelligence: Spare a Thought for Customer-Facing Roles UNSWTV According to Markus Groth, an associate professor at the Australian School of Business, employees who have to manage their emotions when dealing with difficult customers are providing emotional labour. It is distinct from physical or cognitive labour and bosses need to take this work and the effects it can have on workers into account. Research into parking officers shows they can be more productive if they display authentic emotions in abusive situations, but other occupations require a different emotional intelligence. There's a need for experiential training and managers should take time to debrief with staff after critical incidents. Wed, 22 May 2013 16:15:42 -0800 74CF6140-C2A0-11E2-A7B00050568336DC Asian Partners: How Korea is Overlooked in Coming Fourth UNSWTV South Korea – officially the Republic of Korea – has Asia's fourth-largest economy and is Australia's fourth-largest trading partner, a relationship in which Australia enjoys a significant surplus. Yet Korean was omitted as a priority language in the Australian government's future blueprint, the Asian Century White Paper. Chung-Sok Suh, from the Korea Research Institute at the Australian School of Business, is at the heart of efforts to expand collaboration with our affluent regional neighbour. He notes existing ties but sees plenty of scope for improvement and further opportunities. Companies need to understand that Korean business culture is different to that of Japan or China. Wed, 22 May 2013 16:14:48 -0800 89EC3210-C2A0-11E2-A7B00050568336DC Accounting in Progress: Have Rising Standards Improved Earnings Quality in China? UNSWTV A lack of transparency in the accounts of listed Chinese companies has long sounded warning bells for outside investors, particularly in the context of an insider economy with weak legal enforcement and low investor protection. But China has made great strides in adopting international financial accounting standards during the past 20 years. Researchers from the Australian School of Business have found this progress has improved earnings quality, though not across the board. In some cases, improving quality in one aspect of earnings has been at the cost of sacrificing another. Poor corporate governance is still a pressing concern. Wed, 22 May 2013 16:14:01 -0800 A31192D0-C2A0-11E2-A7B00050568336DC GST Reform: The Debate That Dare Not Speak Its Name UNSWTV Australia's goods and services tax (GST) was born of a political compromise and any discussion of potential changes to its scope and rate remains too sensitive for legislators to touch, particularly during an election year. But there's a growing realisation that GST reform could improve Australia's competitive advantage. So let the debate begin. Neil Warren, a professor of taxation at the Australian School of Business, looks at options and says the GST is a far more efficient tax than many existing levies. KPMG has been testing scenarios. Warren also notes that changing the GST would require all states to cooperate with the Commonwealth, something that's easier said than done. Wed, 19 Jun 2013 11:22:14 -0800 D5C0A2F0-D86E-11E2-BAC20050568336DC Asia in the Ageing Century: A New Boom in Retirement Planning UNSWTV Many populations across Asia are ageing more rapidly than those in Western countries, yet the development of viable retirement income systems is lagging behind. A new report from the ARC Centre of Excellence in Population Ageing Research (CEPAR) at the Australian School of Business notes that large parts of Asia could benefit from Australian expertise in retirement planning. And providing solutions may offer Australia a new economic boom in financial and insurance services as it assists the region to advance. “Getting a retirement income system right could result in favourable macro-economic rebalancing of growth,” says CEPAR research fellow and report co-author, Rafal Chomik. Wed, 19 Jun 2013 11:21:35 -0800 E25A5830-D86E-11E2-BAC20050568336DC Women at the Top: Never Mind the Quotas, Develop the Pipeline UNSWTV Gender diversity in the boardroom has its advantages but there is no business case for female quotas, says Renée Adams, a professor and Commonwealth Bank (CBA) Chair in Finance at the Australian School of Business. Too much emphasis on placing women at the top obscures the systemic difficulties many women face in pursuing and maintaining full-time careers. Policy-makers should concentrate on working from the bottom up to build a talent pipeline. Carolyn Kay, a non-executive director at CBA, sees progress being made in female representation but says more needs to be done, noting that “we are still losing women at senior levels”. Wed, 19 Jun 2013 11:20:40 -0800 EC290690-D86E-11E2-BAC20050568336DC Joining the In-Crowd: How Social Entrepreneurship is Going Mainstream UNSWTV The popularity of crowd-funding continues to explode, but is it just an early stage in the web community's ongoing quest to find ways of circumventing traditional financial service institutions? “The next logical step is crowd investment and crowd equity, where investors take on property rights in the ventures they back,” says Daniel Schlagwein from the Australian School of Business. But there are unresolved legal issues and regulators are hovering as the sums get bigger. With banks already jumping on to the crowd-funding bandwagon, social entrepreneurship may be in danger of losing its cool. Wed, 19 Jun 2013 11:19:07 -0800 F2D406C0-D86E-11E2-BAC20050568336DC Digital Advantage: The Fuss About High-Frequency Trading UNSWTV High-frequency trading (HFT) accounts for 27% of Australian stock market turnover.  Its critics describe it as parasitic and providing toxic liquidity. The Australian Securities and Investment Commission says that most concerns about HFT are unfounded. But controversy is never far from the surface. Last month, the Industry Super Network (ISN) cried foul, claiming high-speed traders could cost Australian investors and retirement savers more than $1.5 billion a year. It prompted Australian School of Business finance professor Mike Aitken to point out that HFT is just the latest in a long list of market innovations and that the ISN should get up to speed, by changing stockbrokers if necessary. Wed, 24 Jul 2013 10:51:17 -0800 BBA7B500-F3FA-11E2-B91D0050568336DC No Social Ties: How Independent Boards Improve Firm Performance UNSWTV Research led by Ronald Masulis, the Macquarie Group Chair in Financial Services at the Australian School of Business, demonstrates a strong causal link between board independence and increased value for shareholders. But there is a potential pitfall in the way board members are chosen. Masulis and co-author Lixiong Guo find that social connections between CEOs and non-executive directors can undermine board independence. “I would encourage corporate boards to voluntarily adopt a fully independent nominating committee, and if they are lacking a nominating committee, to establish one,” says Masulis. Wed, 24 Jul 2013 10:52:34 -0800 BF365A00-F3FA-11E2-B91D0050568336DC The Open-Talent Economy: What Price Loyalty in a Time of Employment Disruption? UNSWTV Business professionals are on the move, whether they like it or not. Traditional employers, such as media organisations, the public service, telecommunications companies, accounting firms, banks and universities have all announced redundancy programs during the past 12 months. Job ads are down and unemployment is rising. Some firms are accessing cheaper services offshore.  But what replaces employee commitment to an organisation when stable, full-time jobs are replaced by casual, contract and part-time work? Is “volatile, uncertain, complex and ambiguous” employment the new white-collar reality? Experts from the Australian School of Business and industry weigh in. Wed, 24 Jul 2013 10:53:58 -0800 C5A11CE0-F3FA-11E2-B91D0050568336DC Start-Up or Stop: When Innovation Means Knowing How to Let Go UNSWTV Companies need to update their products, develop new ones and break into fresh markets. But equally important is the ability to cull projects that aren’t working. Dan Levinthal, the Michael J. Crouch Visiting Professorial Fellow at the Australian School of Business, describes it as a “difficult balance of being tough on resource allocation, but at the same time you can’t make it stigmatising and career-ending” for those whose ideas don't go forward. Controlled micro-failures are part of innovation for start-ups in the tech sector, where the knowledge gained from unsuccessful initiatives is known as “flearning”. Wed, 24 Jul 2013 10:54:46 -0800 CCF0C180-F3FA-11E2-B91D0050568336DC What Western Firms Need to Know to Succeed in China UNSWTV The Chinese market is a glittering prize for foreign companies, but those that hope to prosper need to be aware of a complex labyrinth of government, labour and cultural forces, according to research from Australian School of Business professor Stephen J. Frenkel and PhD candidate Chongxin Yu. Business plans and HR strategies must adapt to the local context and ties with  authorities at all levels need to be maintained. Frenkel suggests that returning Chinese students educated in Australia may offer a new bicultural management model for Western firms because these graduates have the advantage of “knowing their own culture, but also knowing us”. Tue, 06 Aug 2013 17:52:51 -0800 A90132C0-FE6B-11E2-825E0050568336DC Can Asia Meet the Healthcare Demands of its Ageing Populations? UNSWTV Asian nations are facing a dramatic rise in medical costs as they plan for the looming demographic transition to much older populations. Rafal Chomik, from the Centre of Excellence in Population Ageing Research (CEPAR) at the Australian School of Business, says that Asian governments have the fiscal capacity to keep expanding their health systems, but they should heed the successes and failures of reforms in the region and elsewhere to avoid the excessive cost growth seen in the West. Thailand is cited as a good example, and Australia’s strong front line of GPs as well as its pharmaceutical benefits scheme are two initiatives worth emulating, according to CEPAR investigators. Mon, 19 Aug 2013 17:34:47 -0800 5A7AE580-08A0-11E3-AEE10050568336DC Fad or Frontier: Is Big Data an Under-Utilised Asset? UNSWTV When it comes to appreciating the power of big data, the whistle-blowing activities of WikiLeaks and American computer specialist Edward Snowden have seized the headlines. But the collection and manipulation of massive amounts of digital information is increasingly being applied in more legitimate ways, with savvy businesses investing in innovative tools to unlock real-time information about their operations.  Speed is the crucial factor, according to Felix Tan from the Australian School of Business. “If you can analyse and respond to customer and supplier data almost instantaneously, the better informed your business processes will be. That’s the challenge,” Tan says. Tue, 17 Sep 2013 17:44:37 -0800 CFD1F7A0-1F6C-11E3-A7CA0050568336DC Skin in the Game: Is Board Independence Destroying Firm Value? UNSWTV Australian School of Business professor Peter Swan and colleague Marc-Oliver Fischer have stirred up the business community by refuting the popular view that independent board directors increase firm value. The researchers studied the performance of almost 1000 Australian companies since the ASX introduced voluntary governance guidelines in 2003. Those that followed the board independence recommendations increased CEO and director pay yet under-performed financially. “We estimate these losses conservatively at about A$69 billion over the period 2003-2011,” Swan says. “If the director has no substantial financial interest in the affairs of the company, the only thing they’re going to care about is their own wellbeing.” Wed, 16 Oct 2013 10:19:10 -0800 B0137D50-35EF-11E3-B0590050568336DC Powering the Future: The Business Case for Switching to Renewables UNSWTV Plans by the new Coalition Government to abolish Australia's carbon tax put it on a collision course with its Labor predecessor, which opposes the move unless it leads to an emissions trading scheme. Into the fray comes new research from centres at the University of New South Wales. This modelling of investment and operating cost scenarios demonstrates how, by 2030, power generated from renewable energy sources would be a cheaper option than even “clean” gas and coal. The researchers aim to inform a process of decarbonising the electricity industries, but financial market analysts are sceptical that an entrenched reliance on fossil fuels will change without a series of ultra-extreme events. Wed, 13 Nov 2013 11:14:20 -0800 1B708B60-4BF8-11E3-B2580050568336DC