Message from the DEAN -...

the alumni magazine Of the faCulty Of eCOnOmiCs and Business issue tWelVe (Online) OCtOBer 2010

Our Global EMBA partners with Foodbank NSW to tackle the enormous issue of feeding millions of hungry Australians

02Message from the Dean

03Women in Business

04Corey Payne Alumni Profile

06Hungry Minds

08Let the Games Begin

10Business Intelligence

HUNGRY minds

The faculTy of economics and business alumni magazine 20102

Kim Pryor alumni relations manager Faculty of economics and Business room 111, economics and Business Building (h69) university of sydney nsW 2006 australia

T: +61 2 9114 1128 f: +61 2 9114 1140 e: [email protected]

sydney.edu.au/business/alumni

co-ordinator: Kim Pryor Writer: alison avery design: OKelly & associates

Message from the

DEANWelcOme tO yOur first online edition of E&B Connect which contains the latest news from across the faculty.

a number of the articles contained within this edition demonstrate the impact the faculty has on the wider community and the importance we place on making a difference to those around us.

Our alumni profile on page four highlights the strength of combining the vision of alumni with the skills of our current students on the facultys master of management program. corey Payne, Bachelor of commerce alumnus and current master of commerce student, asked the current cohort of students for their help in developing the strategy for his Future Direction Network which aims to improve participation rates in tertiary education among young people from sydneys southwest.

along a similar vein, you can also read about the latest project for our Global executive mBa (emBa) participants on page six which saw them working closely with the not-for-profit agency, Foodbank new south Wales, in helping to strategise their ambitious five-year goal of increasing the amount of food that it provides each year.

the faculty are extremely proud of the passion and dedication that both the master of management students and emBa participants showed to these projects. this goes to further demonstrate our mission to develop our students within a learning community that addresses both their intellectual and personal development. at the same time we aim to highlight to them the impact that the faculty can have on the wider community in nsW, nationally and internationally.

With best wishes,

Professor Peter Wolnizer (MEc 76 PhD 86)

frOm the dean

mailto:[email protected]://sydney.edu.au/business/alumni

alumni magazine 2010 The faculTy of economics and business 3

WOmen in Business

linDa nichOlls aO, a highly respected corporate advisor, senior executive and company director in australia, new Zealand and the united states, believes that in business you need to balance what might go wrong with what must go right.

she also believes that it is important to provide sufficient authority alongside accountability and that it is critical for an organisation to benchmark for opportunity not just reassurance. she says success, progress and growth all come not from avoiding risk alone, but from wisely choosing which risks we should take and then managing those risks well.

linda, who has an mBa from harvard Business school, is also a Board Director for the united states studies centre at the university of sydney. she shared her thoughts about the strategic challenges for australian business during her engaging presentation at the inaugural Women in Business Dinner jointly presented by the Faculty of economics and Business and the Womens college.

more than 115 staff, students, alumni and friends of the faculty attended the event which was held in the historic Womens college and aimed to recognise the significant contribution that women associated with the faculty as staff, students and alumni

have made to the australian and international business community.

Professor marian Baird (Bec Hons 78 Diped 79 PhD 01) from the Discipline of Work and Organisational studies in the faculty was facilitator of the lively debate which followed lindas presentation where she challenged guests to question how to approach business in order to remain internationally competitive.

Dr Jane Williamson, Principal of the Womens college said the dinner was a stimulating evening which reasserted the importance of women in business.

Dean of the Faculty of economics and Business, Peter Wolnizer said

of the event: the faculty is extremely proud of the enviable international reputation it has attained for diversity and teaching excellence and of the strong cohort of outstanding female graduates it has produced. many of these women such as heather ridout, Belinda hutchinson am, marian Baird and Jane spring, have gone onto become leaders in their chosen fields.

We are delighted that so many of our esteemed alumni and industry partners were able to join us to celebrate the significant contribution women have made to the success of our great faculty, he said.

2010 marked a new partnership between the Faculty of Economics and Business and The Womens College at the University of Sydney. Together we celebrate the significant contribution women have made to the success of our faculty, University and the wider community

Recognisingwomen in business

Professor marian Baird (left) in discussion with linda nicholls aO


running head

cOrey has lOnG been driven by a mission to improve participation rates in tertiary education among young people from sydney's south-west. so, he developed a project called the Future Direction network (FDn) which provides financial support (via scholarships), mentoring and career pathway planning and execution (cadetships/internships) for students from south West sydney. this is in line with the university's activities to support social inclusion.

corey is an active member of the Faculty of economics and Business alumni community, as well as being

a current master of commerce student, and so he immediately also saw this project as a way he could give something back to the university by involving students enrolled in the faculty's master of management program.

it is a fact that less than 20 per 1000 students who attend school in south Western sydney go on to university, compared with the national average of almost 50 per 1000*.

FDn is made up of a group of young professionals who grew up in the Western suburbs of sydney, attended university and have gone

on to develop successful careers. all of them are dedicated to providing greater opportunities to the next generation of young people from the region they grew up in.

Payne contacted the then Director of the master of management program, associate Professor nick Wailes, to enlist the help of the current cohort of eager of students.

there are numerous barriers that have the potential to prevent young people from south West sydney attending university, said Payne. Being financially disadvantaged,

Our alumni

NO PAYNEno gain

corey Payne in discussion with students from the faculty's master of management program


or the fact that no other family member has attained a formal education alongside the belief that university is quite simply beyond their reach can be some of the hurdles that students from the region face.

"i wanted to do something a bit more proactive, and conceived the idea of setting up a program that would help to not only see more kids enrol at university but also challenge attitudes.

"Financial assistance is a critical component in helping kids from south

West sydney to attend university, however, the provision of support networks is essential to seeing them graduate. so, it is imperative that we [FDn] provide a strong mentoring program to help support students through their studies.

"When nick informed me that he was interested in having the master of management students engage the idea as part of their studies, i was very excited. Who better to work on my project than the best and brightest students at the university".

nick Wailes said: "When corey came to me with this opportunity i jumped at it. One of the key aims of the master of management is to equip students with the ability to develop solutions to real world problems.

"this project provides students with a fantastic opportunity to apply their theoretical knowledge to a concrete set of challenges. it requires them to understand the target market, look for potential sources of funding and identify sustainable governance and organisational arrangements. the skills that students acquire working on this project will be directly applicable in their professional careers.

"Just as importantly, this project and others that our students have worked on are one of the ways that the university can make a positive contribution to the australian community."

Jessie Kelly, a current master of management student, who has previously been involved in a mentoring program for indigenous

students, thoroughly enjoyed working on this project.

"i was really excited to be able to work on such a worthwhile initiative as part of my studies," said Jessie.

"my experience is that the people in this course work really hard to produce quality work and i know that as a group we will apply these principles to this project. the most exciting thing for me about this opportunity is that our work will have a real impact on the future direction of this program and i'd also like to think that i am making a real contribution to changing the face of this university."

the entire FDn board were extremely pleased with the professionalism, thought leadership and passion that was shown by the master of management students whilst working on the project and have utilised a great deal of the recommendations made by the students when finalising the schools program. Pilot programs will be run by FDn beginning in 2011 in two south West sydney schools Fairfield high school and Westfields sports high school.

* Figures obtained from the suBmissiOn tO the revieW OF australian hiGher eDucatiOn by the Western sydney regional Organisation of councils ltd (aug 2008)

Payne playing for the canterbury Bankstown Bulldogs in the nsW cup Week 1 finals match against the cronulla sharks - september 2010. procarlos

Corey Payne, who completed a Bachelor of Commerce in the Faculty of Economics and Business in 2007 is passionate about playing rugby league for the Canterbury-Bankstown Bulldogs. However, for the last 12 months while a serious shoulder injury had him sidelined from the game, he threw himself whole heartedly into a cause he's equally passionate about

Our alumni

foR fuRTheR infoRmaTion:

Future Direction network - www.fdn.net.au (site going live in early November)

master of management - sydney.edu.au/business/mmgt

http://sydney.edu.au/business/mmgthttp://www.fdn.net.au/

BehaViOural eCOnOmiCs researCh


FOODBanK is a non-denominational organisation that sources and distributes food and grocery industry donations to welfare agencies who feed the hungry. it is the largest hunger relief organisation in australia with affiliates in six states and the northern territory.

having recently committed itself to the ambitious five-year goal of increasing the amount of food that it provides from three million to 17 million kilograms a year, Foodbank nsW approached acting Global emBa Program Director, Dr nick Wailes requesting strategic business advice.

this was a hands-on project that participants jumped at and, despite forming part of their course assessment, quickly became a labour of love. as part of the project participants visited the Foodbank warehouses, suppliers and other relief agencies to understand the challenges facing the organisation and how they could help them grow.

each of the emBa participants is a senior executive many at leading australian and international organisations and they were able to draw on their own business experience to add value to this not-for-profit initiative.

at the culmination of the project, the group of 14 presented a comprehensive business plan to the board of directors. a number of key issues were addressed by the group in their presentation including the need to improve inventory control, workplace capability planning and marketing.

Foodbank nsW chairman ern Pope said: When we agreed to involve a group of emBa students, we expected the minds but we certainly didnt expect the heart as well. sometimes when you are so close to the project, you need

HUNGRY minds

BehaViOural eCOnOmiCs researCh


Participants of the University of Sydney's innovative Global Executive MBA (EMBA) program have tackled the enormous issue of feeding millions of hungry Australians in a project for not-for-profit agency, Foodbank New South WalesHUNGRY mindsto be shown the obvious to move forward. We are so impressed with what weve seen and will be implementing many of the recommendations in our operations.

One of the course participants, senior executive from Westpac new Zealand, steve Jurkovich, estimated the group had spent thousands of hours on this project.

now that our eyes have been opened to the millions going hungry in australia, theyve really dragged us in, said steve. as amazing as this country is, it is frustrating and really

vexing that so many people go to work or send their kids off to school hungry. it is hard now for us to turn a blind eye and we are all deeply committed to the cause.

We didnt really know what to expect when we began the project but it has had an effect on all of us. it has now become a really important motivator for this group to leave a legacy.

Dr Wailes said: it is not an easy thing to do to open your organisation to a group of people you dont really know so we are very grateful Foodbank allowed us the opportunity to be

involved. clearly this was very much a mutually beneficial experience.

the standard of the work this group has done is phenomenal and they have set a very high water mark for the next cohort, he said.

For further information about Foodbank, please visit www.foodbank.com.au

to read more about the university of sydney Global executive mBa go to sydney.edu.au/business/globalemba

http://sydney.edu.au/business/globalEMBAhttp://www.foodbank.com.au/


this mOnth the 14 senior executives that are part of the inaugural cohort of our Global executive mBa will embark on the first of three overseas modules. this module, which focuses on identifying and capturing new opportunities, takes place in Bangalore, indias rapidly emerging commercial and information technology hub.

Just like the athletes who competed in Delhi, our Global emBa students have been preparing intensely for the challenges they will face in india, completing modules focussed on leadership and management in sydney and working on a major project with Foodbank nsW (see article on pages 6 and 7). Over the past few weeks, working in small groups, they have been briefed on the projects they will be working on during their time in Bangalore and have had the opportunity to meet with the client organisations that have provided us with projects. the organisations, ranging from a company that produces super-efficient heat pumps to developers of call centre management

software, are all interested in entering the indian market and have asked us to provide them with strategic advice about how and when to enter.

no amount of preparation, however, will equip these very talented executives for the challenges they are likely to face in india.

as the tumultuous lead-up to the commonwealth games has shown, modern india is a complex and contradictory environment. the worlds largest democracy is plagued by chronic underinvestment in infrastructure and Byzantine bureaucracy but in the past two decades has also seen the emergence of a vibrant and internationally competitive private sector. as a number of commentators have noted, this private sector has become the engine of indias remarkable recent economic growth in spite of, rather than because of, supportive infrastructure. this makes india an intriguing contrast to china.

What better place to put into action the management and leadership skills

let theGAMES BEGINAs Australias elite athletes return home from competition at the Commonwealth Games in Delhi, another outstanding group is preparing to test themselves in Indiaby dr nick Wailes (Phd 04), acting global emba Program director

required to drive the early stages of business development.

like elite athletes, our participants will be provided with expert support, including leading indian business scholars from iimB (the harvard of india) and well-known indian entrepreneurs and business figures who will work with the teams during their time at the infosys campus on the outskirts of Bangalore. however the experience in the field will be the primary learning experience and the true test for this group. armed with a pre-paid mobile phone and a driver, our Global emBa students will have little more than 10 days to come to terms with a confronting new environment, to gain insights into market conditions and to formulate their initial recommendations for the client organisations.

unlike the commonwealth Games athletes, many of whom have returned home for some well deserved rest and relaxation, the Global executive mBa students will return straight back into their demanding professional roles for a few short months before they get ready to face their next challenge, confronting the challenges associated with managing growth in silicon valley, early in the new year.

For further information about the facultys Global executive mBa, please visit sydney.edu.au/business/globalemba

http://sydney.edu.au/business/globalEMBA


aCCOunting researCh

at the Facultys regular Powered by Research breakfast forum in July the chair of the accounting Discipline, Professor Graeme Dean (Bec 73 mec 76), drew on his latest research about deficiencies in accounting generally. more specifically, he discussed the proposed new federal regulations about determining new constraints on paying company's dividend payments.

For nearly 35 years, Professor Dean's research has comprised three main areas: an analysis of corporate failures and the role of accounting in those failures - as well as an analysis of optimal distributions in liquidations, public sector accounting and accounting for inflation. his latest major work (with emeritus Professor Frank clarke (Bec 70 PhD 82)) Indecent Disclosure: Gilding the Corporate Lily (cuP 2007) was short listed for the prestigious Blake Dawson Business literature Prize for 2007.

at the breakfast, Professor Dean focussed on the proposed legislative amendments which he believes will result in significant changes in the way data is reported. this, he says, has significant implications for interested parties - shareholders, creditors and employees. By highlighting recent business catastrophes such as aiG's alleged capers; lehmann's repos; melbourne storm's alleged salary cap rort; the solvency dilemmas at One.tel and the James hardie asbestos conundrum, Professor Graeme Dean, emphasised the need for commerce to have 'trust' in audited accounting information and, how without it, there is a fine line between order and chaos.

a panel of leading industry experts, including a number of the facultys own alumni, joined the discussion at the event:

Joycelyn morton (Bec 80) - non-executive Director, noni-B and count Financial ltd.

charles littrell (mec 98) - executive General manager, Policy, research and statistics, at the australian Prudential regulation authority (aPra);

stuart Washington - Fairfax Business Journalist

sandra van der laan (PhD 09)- senior lecturer, Discipline of accounting, Faculty of economics and Business

a short video featuring an interview with Professor Graeme Dean and excerpts from Julys breakfast can be viewed at sydney.edu.au/business/news/forum_ corporate_reporting_networks or by clicking on the screen below.

see page 12 for further details about the next Powered by Research breakfast being hosted by the facultys Business information systems Discipline on Wednesday 10 november 2010.

During its 50th Anniversary year, the Accounting Discipline hosted a research forum highlighting the need for more thoughtful structuring and auditing processes of Australian corporate groups

Mission impossible?

http://sydney.edu.au/business/news/forum_corporate_reporting_networks


faCulty uPdate

the heaD OF iBm australia, Glen Boreham (Bec 86) and more than 70 industry representatives joined the Dean of the Faculty of economics and Business, Peter Wolnizer and chair of the Discipline of Business information systems, Philip seltsikas, at the launch of a new video series in June.

titled: Promoting Careers in Technology-enabled Business Innovation the new videos aim to promote Business information systems as a career and increase the number of university graduates who have the knowledge and skills to assist technology-enabled business innovation.

the series of promotional videos is aimed at students, parents, careers advisors and employers, and contains recent graduates describing their current roles, the types of careers they are seeking and how university courses have equipped them for these positions.

the supply of university graduates who have the knowledge and skills to assist technology-enabled business innovation has declined for much of the last decade, said seltsikas. this has directly impacted australian business capability.

this series of videos has enabled us to work closely with both government

and industry professionals to create awareness and hopefully increase the number of graduates in this field.

For more information or to view the video series, please visit sydney.edu.au/business/ information_systems/videos or click on the screen below.

the Faculty Was delighted to support the attendance of a small group of our current students and two staff representatives, ms Pearl rozenberg and Dr Philip lee (PhD 03), to the annual Beta alpha Psi conference held in san Jose, usa in august this year.

through our aacsB and eQuis accreditations, the faculty was able to establish a chapter of Beta alpha Psi (BaP) in 2006. BaP is a non-profit

international honorary and service organisation for undergraduate and postgraduate students majoring in accounting, finance and information systems. the central tenet of BaP is to recognise and promote academic achievement, skills, and ethical development by encouraging students to participate in community service activities and increase interaction among our students, faculty members and industry professionals.

the university of sydney chapter, founded in 2006, was one of the first BaP chapters established outside of north america and we were extremely proud of Pearl rozenberg from the

facultys Discipline of Business law who was awarded the Presidents Prize for 2010. this is in recognition of Pearls work with the organisation, particularly in globalising BaPs activities as the international Director of Global activities.

at the san Jose conference, the universitys chapter was once again ranked in the top sphere of BaP chapters achieving a "superior" status for 2010. Our students also co-hosted the conferences community service Day where over 1,000 students volunteered for a day to help clean up the san Joaquin river valley.

BUSINESS INNOVATION LAUNCH

STUDENTS VISIT SAN JOSE

Business

INTELLIGENCE

http://sydney.edu.au/business/information_systems/videos


in late sePtemBer, seventy students from the university of sydney and the university of Western sydney graduated from the lucy mentoring Program at a function hosted by sparke helmore in sydney.

the lucy mentoring Program is run by seven nsW universities (of which the university of sydney is a founding partner) and the nsW Office for Womens Policy and encourages women to become future leaders, with a focus on graduates in business and law succeeding in the workplace after graduation.

the graduation was attended by over 150 guests including student mentees and their mentors who are senior business women from the government and corporate sectors. the minister for Women, the hon Jodi mcKay mP and

elizabeth Broderick, sex Discrimination commissioner and commissioner responsible for age Discrimination, attended the function.

lucy graduate, natalie Waser, a final year student in the faculty said, lucy provided me with the opportunity to learn first-hand from the experiences of senior business women what theyve done well, and to learn from their mistakes. my mentor has really opened my eyes up to the likely

challenges and opportunities i will face as i prepare to launch my career.

a video report on the event published by the australian is available here.

the lucy mentoring Program for 2011 will begin in may next year and further mentors will be sought for the program. if you are interested in becoming a mentor and learning more about the program, please visit sydney.edu.au/business/careers/students/lucy

LUCY GRADUATES

the 2010 lucy graduates pictured with the hon Jodi mcKay mP and elizabeth Broderick

faCulty uPdate

the Faculty WOulD like to congratulate emeritus Professor of economics and former university of sydney lecturer Peter Groenewegen

(Bec 61 mec 63) upon receiving the 2010 economic society of australia Distinguished Fellow award.

Professor Peter Wolnizer, Dean of the Faculty of economics and Business has described Professor Groenewegen as one of sydney's

most illustrious economic scholars, a wonderful colleague and a fine contributor to the life and work of the Faculty of economics and Business.

Further details about the award can be found at sydney.edu.au/business/news/esa_distinguished_fellow_award

A DISTINGUISHED FELLOW

http://www.brr.com.au/event/68975/partner/theaustralianhttp://sydney.edu.au/business/careers/students/lucyhttp://sydney.edu.au/business/news/esa_distinguished_fellow_award


running headOur COmmunity

save the dateFaculty alumni are invited to attend the second Connect over Cocktails function for 2010 hosted in the sydney cBD. Our guest speaker for the evening will be mr arthur sinodinos aO, senior adviser Business Banking & Private Wealth, national australia Bank.

mr sinodinos topic for the evening will be The Economic and Political landscape since the Federal Election.

Join us to meet and network with alumni from a multitude of graduating years who have gone on to experience a wide range of careers after completing their degrees.

Further details of how to sign up for this event are detailed below:

When Wednesday 27 October 2010 from 6pm to 8pm

Where establishment - room iii level 3, 252 George street, sydney

cost Free for Faculty of economics and Business alumni Complimentary refreshments will be served throughout the evening

dress Business attire

contact rsvP by Friday 22 October 2010 to ms Kim Pryor, alumni relations Officer Please RSVP early as numbers are limited.

CONNECT OVER COCKTAILS

alumni WhO GraDuateD from the Faculty of economics (as we were formerly known) in 1960 are invited to attend a small cocktail reunion reception on Friday, 5 november 2010.

a letter has been sent to all graduates from this year for whom we have contact details, however, as some time has passed since the graduation

the university has lost contact with some alumni from this graduating year. We would be very grateful for your help in putting us back in touch with these lost alumni to ensure that they receive an invitation to this reunion.

click here to see a list of lost alumni from this year.

Further details about the reunion are detailed below:

When Friday 5 november 2010 from 6pm to 8pm

Where Withdrawing room, holme Building science road, the university of sydney (map reference G2, pdf)

cost Free to 1960s economics Graduates but registration is essential

contact rsvP by Friday 22 October 2010 to ms Kim Pryor, alumni relations Officer

Phone +61 2 9114 1128

REUNITING AFTER 50 YEARS

this years Final Powered by Research breakfast forum will be hosted by the Discipline of Business information systems. the discussion will focus on Big Brother? Why and how governments manage user identities online.

Join the breakfast to hear the latest research in this area from the Discipline of Business information systems and to listen to a panel of industry experts talk about the most recent developments and information available on this topic.

Further details about the breakfast forum are detailed below:

When Wednesday 10 november 2010 from 7.15am to 9am

Where the tea room QvB level 3, north end, Queen victoria Building 455 George street, sydney nsW 2000

cost Free to university of sydney alumni (please note, places at the event are limited and so registration is essential)

contact rsvP by Wednesday 3 november 2010 to ms Gina Katakis

Phone +61 2 9114 1127

BREAKFAST WITH BIG BROTHER
mailto:[email protected]?subject=Connect over Cocktails RSVPhttp://sydney.edu.au/business/__data/assets/pdf_file/0007/80836/Lost_alumni_listing_1960.pdfhttp://www.facilities.usyd.edu.au/maps/docs/guide_campdarl.pdfhttp://www.whereis.com/nsw/sydney/455a-george-st?id=7F25F95C277239mailto:[email protected]?subject=1960s Economics Reunionmailto:[email protected]?subject=Powered by Research Breakfast (alumni response)

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