TO ADVANCE KNOWLEDGE WITH IMPACT, THROUGH INTEGRATIVE THINKING, FOR NEXT GENERATION LEADERS IN A GLOBALISING WORLD.

B I GIn a world where change is the only constant, UTS Business School is preparing the leaders today who will shape the businesses and communities of tomorrow.

O U R V I S I O N I S T O A D V A N C E K N O W L E D G E W I T H I M P A C T T H R O U G H I N T E G R AT I V E T H I N K I N G F O R N E X T G E N E R AT I O N L E A D E R S I N A G L O B A L I S I N G W O R L D .

After consultation with some of Australia’s top executives, entrepreneurs and management specialists, UTS Business School has been busy overhauling its curriculum to develop business leaders who can think creatively in the workplace.

We pride ourselves on being globally connected, and through our partnerships with business, government and the community, we are pioneering new ways of driving innovation in Australia and beyond.

At UTS Business School, we’ve made it our mission to provide integrative, practice-oriented business education of a standard few can match anywhere in the world, and deliver quality research outcomes, so we can all tackle the complex problems faced in today’s business environment. Professor Roy Green Dean, UTS Business School

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Integrative thinking is vital to shaping tomorrow’s business leaders—it sets UTS Business School apart as innovative and practical, creative and connected.

AN ENVIRONMENT THAT INSPIRES CREATIVE THINKINGOur innovative approach to business education will be embodied in our new building, the Dr Chau Chak Wing Building, which opens in early 2014.

Designed by world-renowned architect Frank Gehry, the building is a “tree of knowledge”— an evolving, growing organism that fosters collaboration and the cross-pollination of ideas.

Inside the Dr Chau Chak Wing Building, common spaces are flooded with natural light, flexible seating in the lecture halls facilitates teamwork, and disciplines and research centres are physically interconnected. Equally important is what Gehry calls the building’s “porosity”, embedding the Business School in the milieu of Sydney’s business community.

This engagement with industry sets UTS Business School apart from traditional institutions. We are partnering with some of the world’s top corporations to design rigorous and relevant training programs, collaborate on research projects, and devise transformative solutions to challenging problems. And as a result, we are delivering the kind of graduates that companies and organisations actually need.

We are proud of our heritage, which dates back to the 1830s and the oldest learning institution in Australia, the Sydney Mechanics’ School of Arts. This institution always understood the importance of a practical approach to skills and education and so do we.

UTS Business School is founded on a strong educational tradition, but our sights are set firmly on the future.

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“ Business schools have the ability to profoundly influence the way we think about management and conduct business.”

– Association to Advance Collegiate Schools of Business (AACSB)

UTS Business School is preparing its students for a world in which integrative thinking and an entrepreneurial mindset are highly valued.

Today’s business leaders are grappling with a diverse array of challenges: globalisation, digitisation, climate change, organisational sustainability, a global credit crunch—the list is endlessly evolving.

Establishing a competitive edge is harder than ever, and the need to innovate products and processes is leaving many in the business world behind.

Likewise, business education has been slow to respond to the need for more innovative organisations, and more creative and engaged workforces.

At UTS Business School, we’re bucking the trend. We canvassed CEOs and entrepreneurs to find out what skills they require to thrive in tomorrow’s global marketplace. What we learnt probably won’t surprise you—how we have responded might.

We understand that ours is a pivotal role in the development of next generation leaders—professionals for a different kind of world economy, one in which creative and agile thinking is highly valued.

We know that technical competence is important but not enough. Today’s employers seek graduates with broad interdisciplinary capabilities that extend beyond specialised expertise to an understanding of the context in which business decisions must be made.

And we recognise the imperative to develop new, more flexible and sustainable business models that accelerate decision-making in high performance organisations.

So, UTS Business School has redesigned its undergraduate Bachelor of Business, and we are reviewing and evolving our postgraduate, MBA and Executive MBA programs in close consultation with business and industry.

These programs will include a new Global Executive MBA in partnership with three other world-leading business schools in New York, Paris and Hong Kong to prepare emerging leaders in global corporations.

We have taken an innovative approach to transforming business education and are now inviting business and the community to join us in reshaping the future of business.

THE VALUE OF INTEGRATIVE THINKINGIn 1908, Harvard Business School began teaching specialist skills such as finance and accounting, which set the mould for business educators for the last century. However, today’s business challenges rarely lie neatly within the boundaries of a single discipline and the world’s best business schools are responding accordingly.

In Australia, UTS Business School is leading the way in developing a truly integrative management curriculum that reflects real-world complexity with themes such as ‘Integrating Business Perspectives’.

We continue to teach fundamentals such as finance, accounting, economics, management and marketing, but have reorganised the School to promote inter-disciplinary programs and research centres.

We know that the best entrepreneurs and managers are integrative thinkers with a talent for spotting opportunities others don’t see. So, at UTS Business School we are now teaching students how to tackle problems from multiple points of view, and to combine analysis, logic and business strategy with skills borrowed from other disciplines, such as design and engineering.

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INNOVATIVE LEARNING SPACES Opening in 2014, the Frank Gehry-designed Dr Chau Chak Wing Building will provide one of the most exciting interactive learning environments in the world. This building will be iconic - not only for UTS but for Australia.

SYDNEY’S ONLY CBD BUSINESS SCHOOLUTS Business School is embedded in the local business environment, with its mix of large firms and small start-ups, which creates a valuable feedback loop between industry, academia and students.

EXCELLENCE IN RESEARCHUTS Business School ranked #1 in Australia in the Thomson Reuters measure of research impact in Economics and Business over a four year period, and UTS placed among the top eight universities for the 2011 Excellence in Research for Australia’s (ERA) annual ranking.

WORLD UNIVERSITY RANKINGS UTS Business School ranked in the top 100 for ‘Economics’ and ‘Accounting and Finance’ in the 2011 QS World University Rankings.

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u.lab - IT’S ABOUT YOUu.lab, the UTS innovation space, connects minds across UTS, government, business, corporations, and the surrounding community, which includes a thriving ‘creative industries’ precinct - the most significant in Australia.

BUiLD Established in 2010, the Beyond UTS International Leadership Development (BUiLD) program provides UTS students with opportunities to put their leadership skills into practice in a global setting through overseas exchanges, volunteering and community work, leadership conferences and study tours.

ETHICALUTS Business School is a signatory to the United Nations Principles for Responsible Management Education (UNPRME).

KNOWLEDGE WITH IMPACTUTS Business School’s research centres are geared to solving business problems by connecting industry and academic experts. The unique insights and outcomes of our research work are filtered back into the curriculum to give our graduates a head start in approaching the deep issues transforming business and the economy.

AACSB ACCREDITATIONWe are one of a select number of elite business schools worldwide with accreditation from the Association to Advance Collegiate Schools of Business (AACSB), which represents the highest standard of quality and achievement for business schools worldwide.

AUSTRALIAN CENTRE FOR EVENT MANAGEMENT (ACEM)In 2011, ACEM’s Professional Development Program was acknowledged as an “amazing export of Australian knowledge to the world” after winning Best Education Program at the Australian Event Awards. ACEM is part of UTS Business School, and is a world-leader in the field of event management education.

Fostering integrative thinking means stepping outside a discipline (and often the classroom). UTS Business School has devised a roadmap for innovation that teaches people to frame problems holistically, make decisions based on multiple perspectives, recognise patterns and use intuition, while deepening their understanding of the latest innovation methodologies.

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Don’t take our word for it, recent accolades and accreditations include:

NATIONALLY ACCREDITED ! Australian Human Resources Institute (AHRI)

! CPA Australia ! Chartered Institute of Marketing (CIM)

! Institute of Chartered Accountants in Australia (ICAA)

! CFA Program Partner (CFA Institute)

! Finance and Treasury Association

! Institute of Public Accountants (IPA)

! Nonprofit Academic Centers Council (NACC)

! Chartered Institute of Purchasing & Supply Australasia (CIPSA)

! AACSB

GLOBALLY FOCUSSED With its elite network of global business leaders and entrepreneurs, UTS offers students a profound understanding of the way business is being conducted internationally. Our Global Executive MBA, to be launched in 2013, will take business education a step further, and will embed a cohort of students in four different countries to learn about the way culture affects business.

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u . l a b – A N E X P E R I M E N T I N C O L L E C T I V E C R E A T I V I T Y

What would happen if a group of entrepreneurs, thought leaders, business people, academics and local residents applied their skills to jointly solving complex challenges? To find out, step inside u.lab.

In early 2011, five UTS academics travelled to Silicon Valley to visit Stanford’s d.school, which is considered one of the world’s foremost educators in integrative thinking.

Upon returning, Joanne Jakovich and Dr Julie Jupp (Design, Architecture and Building), Dr Jochen Schweitzer (UTS Business School), Dr Wayne Brookes and Dr Nathan Kirchner (Engineering and Information Technology) launched u.lab, the UTS innovation space. Like d.school, it is a unique space in which to apply creative thinking to real-world problems.

You might wonder, “What’s so revolutionary about an innovation lab?” To begin with, it’s clear that innovation can’t be taught in

a classroom – a lot of inventions start in the garage, not in a boardroom. Practicing the art of innovative thinking requires access to a flexible, adaptable learning environment free from preconceptions and baggage.

Second, integrative thinking is now recognised as a vital element of good leadership. In the past, business leaders focused on shareholder value, whereas leaders of the future must be able to think like entrepreneurs, turning problems into opportunities.

As Schweitzer, who is Senior Lecturer of Strategy and Marketing at UTS Business School, says, “Today, the most innovative work groups are nimble, effective, adaptive, and most definitely multi-disciplinary.”

Unfortunately, there aren’t many places in which to practice integrative, entrepreneurial thinking, which is why UTS launched its innovation lab in 2011.

The best thing about the UTS innovation lab is it’s open to everyone – students, academics, entrepreneurs, executives and members of the community alike. We describe it as ‘an experiment in collective creativity’ because it provides an inter-disciplinary framework for innovation.

For students, the lab provides the chance to develop practical skills that will give them a head start in the global workforce. For professionals, it’s about getting out of the office to apply integrative, collaborative thinking to real-world problems.

u.lab is advantageously located in the centre of an emergent creative precinct where many of Sydney’s most innovative arts, business and design organisations are located.

Many participants initially find the lab’s workshops challenging. “At the start of the workshop it feels a little alien, you can’t help wondering, ‘What are we all doing here?’ But then the workshop culminates in these fantastic ideas, and it’s inspiring to see what can be achieved in such a short period of time,” said one recent participant.

UTS Business School is now inviting you to flex your integrative thinking skills in this space either as a participant, guest speaker, observer or as part of an MBA or Executive MBA program.

Unique in Australia, u.lab is a place in which to provocatively re-think problems and move into a new dimension of entrepreneurial solutions.

As Jakovich says, “It’s all about you - the change you can affect, the contributions you can make, the growth you can enjoy and what you can become.”

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It is a matter of concern for business leaders that Australia’s productivity growth has collapsed over the past decade, compared with growth above the world average in the 1990s.

Can anything be done to reverse the trend?

Roy Green, Dean of the UTS Business School, is considered one of Australia’s leading productivity experts, and was recently appointed to the Prime Minister’s manufacturing taskforce.

His recent research as part of a global study showed that incremental improvements in management performance produce very large gains in productivity. This finding underpins the School’s commitment to helping corporate partners build management and innovation capability for the future.

UTS Business School has been in dialogue with corporations to ascertain skills gaps, identify management and leadership needs, and develop programs that transform corporate cultures and facilitate innovation.

It’s a two-way process: everything we learn at UTS Business School is shared with our corporate partners, while our conversations with industry inform the programs we design and deliver.

UTS Business School is now inviting industry partners to debate, advance knowledge, collaborate, and foster networks based on mutual respect and high ethical standards in the following ways…

TAILOR-MADE GRADUATE RECRUITMENT PROGRAMSIf today’s graduates are tomorrow’s CEOs, then it’s important to handpick the candidates who will lead your company into the future.

UTS Business School is now working closely with CEOs and human resource executives to develop graduates with the skills their organisations are missing, from leadership and problem-solving ability, to technical expertise.

LEARNING EXCELLENCEWe recently revised our Bachelor of Business, Master of Business and MBA programs to embed integrative, practice-based knowledge and skills into the curriculum, and will continue to reinvent our curricula, aligning teaching with business and management needs for future success.

TRANSFORMATIVE EXECUTIVEEDUCATIONUTS Business School works with companies to create educational programs that address their specific challenges.

Each program applies the principles of integrative thinking to solve a particular problem, whether it’s an external problem that relates to the policy environment, or an internal challenge such as looking at new ways to innovate.

By bringing together academics from various disciplines, we help businesses analyse old problems from new perspectives. Other business schools dictate the length and structure of their executive courses, but at UTS Business School we identify the needs unique to each organisation then design programs that meet those needs.

HOW TO START A CONVERSATION WITH UTS BUSINESS SCHOOL

! Attend networking events, seminars, workshops

! Raise the profile of your company with future graduates via internships and industry placements

! Share industry expertise as a guest lecturer

! Embark on an MBA or Executive MBA program

! Nurture your successors with our exclusive Global Executive MBA

! Design a bespoke course to transform your employees into effective leaders

! Implement a graduate recruitment program

! Take part in an experiment at the UTS innovation lab, u.lab

! Apply for a joint-research grant with a UTS research centre

! Sponsor a PhD student

I N S P I R E D L E A R N I N G P R O D U C E S I N S P I R E D L E A D E R S

This year, UTS Business School will implement a cutting-edge training program at the RAAF Air Force Improvement Unit, working to embed a change management process throughout all levels of the RAAF.

UTS Business School has also been working with companies such as Goodman Fielder Asia Pacific, designing a Leadership for Business Improvement Program for management teams in Australia, Fiji and New Caledonia.

INTERNATIONAL STUDY TOURSUnderstanding the complexities of the global economy requires international exposure and cross cultural immersion.

Each year, Executive MBA students at UTS Business School embark on international study tours to France, Canada and other markets, gaining real-world, hands-on consulting experience.

Study tours involve leading corporations such as Airbus, Cap Gemini, Boeing and Bollinger, where students are exposed to cultural differences that challenge learning.

UTS Business School is also developing a groundbreaking Global Executive MBA program in partnership with select AACSB-accredited universities in North America, Europe and Asia.

PARTNERING WITH INNOVATIVEBUSINESS THINKERSWe are now inviting corporates to partner with us as we devise new ways of driving innovation and change in Australia and beyond.

There are many ways to partner with UTS Business School, from inviting a UTS expert to participate in your company’s conference, media event or seminar, or participating in a benchmarking survey to enhance industry knowledge.

An entire floor of the new Dr Chau Chak Wing Building will be devoted to Executive Education, offering an ideal retreat and learning environment for your managers and aspiring leaders.

We also host a series of public lectures, workshops, networking events and debates, and can help raise your company’s profile via internships, industry placements, guest lecturing opportunities, events and our annual careers fair.

You might be interested in sponsoring a PhD student to research an aspect of your business, or applying for a research grant in partnership with one of our research centres.We welcome corporate donations, such as endowed chairs, sponsored scholarships, student competitions and grant schemes.

Our inspired learning model creates an invaluable feedback loop between students, academics and industry. Moreover, our offerings are constantly evolving, and new ideas are always welcome.

O P P O R T U N I T I E S F O R B U S I N E S S & I N D U S T R Y

“Our internship program with UTS Business School allows a small yet growing company such as Chimu Adventures to identify potential future employees, who are usually very motivated and bring fresh ideas to the table. It has also given current Chimu staff the chance to develop their supervisory skills and take on greater responsibility in their own roles.”

! Nicole Hogan Office manager and former UTS intern, Chimu Adventure

“The UTS Master of Quantitative Finance (MQF) degree is widely recognised across the entire Asia Pacific region, making UTS Business School a natural choice for a partnership supporting the development of quantitative and financial engineering professionals.

“By donating software licences to UTS Business School, students have the opportunity to utilise world-class pricing models and learn how to apply market data in a professional environment.”

! Jack Drewe Regional Sales Director Australia & New Zeeland, Numerix

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K N O W L E D G E W I T HFrom driving greater board diversity to supporting eco-manufacturing, researchers at UTS Business School are working with industry to tackle tomorrow’s perplexing problems.

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C H A L L E N G E Can sustainable business models and eco-manufacturing plants help the world avert an environmental meltdown?

S O L U T I O N For 10 years, Fuji Xerox has partnered with UTS Business School to raise awareness of its eco-manufacturing business model, proving what’s good for the environment can also be good for business. Humankind faces an ecological crisis, yet many companies are reluctant to implement eco-friendly business practices for fear of denting their bottom line.

Fuji Xerox Australia decided to take a leadership stance in the environmental debate by investing $25 million in a new eco-manufacturing plant in Sydney, which opened in 2000. The plant set the benchmark for Fuji Xerox’s global manufacturing operations. The return on investment in Australia alone was $250 million – a tenfold increase achieved in just 10 years.

Fuji Xerox also achieved a 55% reduction in average energy consumption on its key equipment between 1997 and 2005.

Dan Godamunne, Executive General Manager of eco-manufacturing at Fuji Xerox, contacted Emeritus Professor of Management, Dexter Dunphy at UTS Business School to see if UTS could help Fuji Xerox spread its sustainability ethos to the industry at large. Dunphy is a member of the UTS Centre for Corporate Governance, which regularly advises organisations on their corporate change programs and sustainability initiatives.

“UTS Business School carries the influence to engage other businesses to take a level of responsibility for sustainability. Dexter has been instrumental in promoting Fuji Xerox’s environmental initiatives, and together we have proved that what’s good for the environment can certainly be good for business,” says Godamunne.

Fuji Xerox’s partnership with UTS Business School has deepened over the past eight years. In addition to publishing case studies about Fuji Xerox’s business model, UTS Business School has enhanced Fuji Xerox’s reputation as a leader in the field of eco-manufacturing.

C H A L L E N G E If we knew how consumers made purchasing decisions, could we design better products and marketing strategies?

S O L U T I O N Motorola engaged the UTS Centre for the Study of Choice (CenSoC) to understand the processes that drive consumers to purchase a new phone. Telecommunications giant Motorola has partnered with CenSoC to guide its product development and marketing strategies.

Initial collaboration saw CenSoC researchers providing choice modelling data to support Motorola’s Consumer and Market Insights division, sparking an ongoing research collaboration and profitable relationship between the two organisations.

“The CenSoC team is very open, talks a lot of sense, and has an ability to explain complex issues in a way that is easy to understand,” says Douglas Hunter, Director of Consumer Insights at Motorola.

“The multi-disciplinary expertise and flexibility of the CenSoC team has resulted in Motorola using the centre as a think-tank, a brainstorming resource and a source of informal commentary.”

Hunter says that engaging with CenSoC has provided Motorola with continued insights into purchasing behaviour that are far more sophisticated than traditional market research. “CenSoC has worked closely with us to ensure the research is relevant and focused on commercial outcomes. What has evolved, over time, is a collaborative partnership.”

CenSoC is led by internationally renowned Professors Jordan Louviere, Michael Keane and John Geweke and taps into the fields of econometrics, mathematics, marketing, statistics and psychology to understand individual and group decision-making.

As Louviere says, “Finding out how customers make their purchasing decisions helps companies to understand what the consumer wants, which is important information for organisations seeking a commercial advantage over their competitors.”

C H A L L E N G E Is it possible to develop an ‘early warning system’ for the commercial real estate sector?

S O L U T I O N EG Funds Management is working with the UTS Quantitative Finance Research Centre to develop a commercial property index to improve market stability. Much of the data available to property fund managers is months out of date, making it difficult to gauge where the market currently sits let alone where it might move in the future.

To combat the problem, EG Funds Management approached our Quantitative Finance Research Centre (QFRC) in 2010 with the challenge of creating a commercial property index to help property fund managers assess the current state of play, in particular to warn investors when the market may be overheating relative to long-term fundamentals.

“EG Funds Management realises that sudden deflations or price bubbles can hurt everybody in the business. By partnering with us, they are ensuring the index is credible and transparent, and readily available to other stakeholders and the public at large,” says Professor Erik Schlögl, Director of QFRC.

The index will measure excessive investor optimism and pessimism and provide an ‘early warning system’ for price bubbles and bursts. “If an early warning system can make the market more stable, it will be beneficial for everyone in the sector,” says Schlögl.

QFRC is one of the leading centres for quantitative finance in the Asia Pacific, which brings together the disciplines of finance, mathematics and applied economics to solve practical business problems. Its research outcomes are varied, from developing proprietary applications for industry partners to supporting the creation of indices or guiding the formation of government policy.“Our collaboration with EG Funds Management is very much focused on commercial real estate, but certainly it would be relatively straightforward to extend the methodology to other asset markets,” says Schlögl.

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“The multi-disciplinary expertise and flexibility of the CenSoC team has resulted in Motorola using the centre as a think-tank, a brainstorming resource and a source of informal commentary.”

! Douglas Hunter, Director of Consumer Insights at Motorola

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C H A L L E N G E Superannuation funds under management will rise to around $3 trillion by 2025, yet financial institutions know surprisingly little about how consumers invest their retirement savings.

S O L U T I O N CenSoC has embarked on a landmark study that will shed light on the decision-making behavior of 90% of the Australian workforce with investments in super funds. Superannuation funds under management are already worth around $1.3 trillion – on par with nominal GDP – yet decisions surrounding retirement savings remain something of a mystery.

C H A L L E N G E Do accountants and business managers lack the skills required to drive sustainable business practices?

S O L U T I O N UTS Business School and Ernst & Young are developing an energy-efficiency training program for accountants and business managers. Many accountants do not account for the long-term value in innovative ideas for reducing energy consumption. To address this skills gap, Ernst & Young is working with the Accounting Discipline Group at UTS Business School to develop a series of seminars and webinars on energy efficiency, targeting CEOs, CFOs, risk officers and board members.

“A fundamental shift is occurring not just in accounting but in business broadly around developing metrics to value all aspects of performance, both financial and non-financial,” says Dr Matthew Bell, Executive Director, Ernst & Young’s Leader of Climate Change and Sustainability Services in Sydney.

According to Dr Bell, there are now a number of examples where organisations have failed to appropriately account for non-financial business drivers, which has led to significant reduction in performance and a lowering of share value. Examples include poor environmental performance, a lack of social consideration, and inappropriate governance.

This has sparked a shift towards ‘integrated reporting’, with companies measuring social, cultural and environmental practices alongside financial assets. Fundamental to this will be the role of the accounting profession, and the development of a globally accepted framework for integrated reporting. This will take time, but Ernst & Young hopes to play a leading role in “informing (its) clients how they can transition to this brave new world,” says Dr Bell.

Ernst & Young is now working with Professor David Brown and Dr Paul Brown from the Accounting Discipline Group, Dr David Bubna-Litic from the Management Discipline Group, and Professor Suzanne Benn, Chair in Sustainable Enterprise at UTS Business School. Together, they are developing interactive seminars for CIMA, Westpac and TAFE NSW, while embedding a series of case studies into the curriculum at UTS Business School.

The project has attracted over $300,000 in funding from the NSW Office of Environment and Heritage Energy Efficiency Training Program, and involves representatives from CIMA, the ACCA, Westpac and the Sydney Institute of Technology.

“From the outset, we have designed the coursework with one intention: how do we get this important training message out to the industry as a whole, from undergraduate level through to business leadership and governance?” asks Dr Bell.

Benn, who was appointed UTS Business School’s first Chair in Sustainable Enterprise in 2011, says: “This project is aimed at bringing about change. It will improve the capacity of accountants and business managers to incorporate energy efficiency into their business models, influencing their products, processes, guidelines and decision-making.”

Benn is also working with Dr Bubna-Litic and ARUP developing a precinct-based approach to engendering change for sustainability. She and Dr Melissa Edwards, member of the UTS Cosmopolitan Civil Societies Research Centre, are partnering with the Australian government to develop and maintain a sustainability teaching and learning website.

“If you think of universities as pipelines for the next generation of leaders, then UTS Business School’s pragmatism and commercial focus are very appealing. It is constantly in the market understanding the training needs of the people who work in industry, and those working in our own organisation, which makes our partnership well-aligned,” says Dr Bell.

“If you think of universities as pipelines for the next generation of leaders, then UTS Business School’s pragmatism and commercial focus are very appealing.”

! Dr Matthew Bell, Executive Director, Climate Change and Sustainability Services at Ernst & Young.

To help super fund managers better service their investors, UTS Business School has embarked on a five-year research project titled ‘The Paradox of Choice: Unravelling Complex Superannuation Decisions’, which is one of the most generously supported Australian Research Council (ARC) Discovery grants in the field of social sciences.

CenSoC has brought together a team of experts including Susan Thorp, Chair of Finance and Superannuation; Jordan Louviere, Executive Director at CenSoC; John Geweke, Distinguished Professor, Economics; CenSoC Associate Hazel Bateman; and a group of economists, policy makers, marketing researchers, regulators and industry representatives.

The research we’re doing is unparalleled in terms of its cross-disciplinary breadth,” says Thorp, adding that financial institutions are under increased scrutiny from regulators regarding the depth of information they provide to investors, who typically have little experience in making sophisticated financial decisions.

“Our research is crucial to the industry as the Australian superannuation system matures, and more babyboomers leave the workforce to take their accumulations,” says Thorp.

Thorp was appointed Australia’s first Chair of Finance and Superannuation in January 2011, a role which is co-funded by industry bodies, government and the Paul Woolley Centre for the Study of Capital Market Dysfunctionality at UTS. Her appointment reflects UTS Business School’s commitment to advancing rigorous research in this crucial area of the economy.

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C H A L L E N G E How does Australia stack up when it comes to appointing female executives at board level?

S O L U T I O N The UTS Centre for Corporate Governance (CCG) has been commissioned by the Australian Government to measure the status of women on boards.

In the aftermath of the 2008 financial crisis, regulators questioned whether poor board diversity contributed to the collapse of many firms.

Australian businesses have a lackluster track record in appointing females to executive roles. In 2010, women held only 8.4% of board positions and 8% of executive management roles at ASX-200 companies, lagging behind New Zealand, the UK, Canada, United States and South Africa.

To address this imbalance, the Australian Government has appointed the CCG to conduct the 2012 Equal Opportunity for Women in the Workplace Agency Australian Census of Women in Leadership.

Thomas Clarke, Professor of Management and Director of CCG, says the Census represents the Centre’s most significant project to date given that the issue of board diversity is reaching a tipping point.

“It’s very strange that 50 per cent of the population are ignored when it comes to appointing board members. There is inherent logic in the notion that improved board diversity will enable boards to make more balanced decisions,” says Clarke.

The Australian Government commissioned CCG to conduct this year’s Australian Census of Women in Leadership with the goal of encouraging corporates to implement change.

CCG brings together researchers from accounting, finance, management and law to solve critical problems and governance issues faced by organisations in the public and private sector.

Clarke defines corporate governance as the DNA that determines the performance and character of a company. “Governance is not just about accountability, disclosure and responsibility – it’s about strategy, creativity and vision,” he says.

The 2012 Australian Census of Women in Leadership will be launched by Michael Smith, CEO of ANZ Bank, in October 2012. Thomas Clarke, Professor of Management and Director of CCG, says the Census represents the Centre’s most significant project to date given that the issue of board diversity is reaching a tipping point.

C H A L L E N G E Can robust economic analysis improve the quality of decision-making and treatments in the healthcare sector?

S O L U T I O N Cystic Fibrosis Australia and the Centre for Health Economics Research and Evaluation (CHERE) are working to better understand treatment patterns, costs and outcomes.

In 2010, CHERE at UTS approached Cystic Fibrosis Australia with the idea of calculating the disease progression and treatment costs incurred by people with cystic fibrosis.

“Most of the research we have conducted in the past relates to treatments and medical research, but we had never done anything to measure the costs of a person with cystic fibrosis to the government or families,” says Terry Stewart, CEO of Cystic Fibrosis Australia.

Cystic fibrosis is a chronic lung disorder that affects 3,200 Australians and costs between $30,000 and $40,000 per person per year to treat, according to CHERE’s calculations.

“By working with our clinics and clinicians, CHERE was able to use our registry data to collect information into areas we had never bothered to look at before, and they came up with some remarkable results,” says Stewart. “The information we’ve gathered will affect the lives of people with cystic fibrosis and help us lobby the government to provide better resources and clinics.”

CHERE was established in 1991 and is recognised internationally for its excellence in health economics. The Centre employs health economists and health services researchers, with expertise in areas such as biostatistics, epidemiology, public health and policy.

“One of the big issues healthcare providers face today is ensuring rising healthcare expenditure delivers value for money,” says Jane Hall, Founding Director of CHERE and Professor of Health Economics at UTS Business School.

“At CHERE, we work closely with healthcare organisations to evaluate what value for money means, and develop analytical techniques that measure value. We then build those techniques into health organisations’ decision-making processes, and help them assess new ways of doing things.”

In 2011, Hall was awarded the inaugural Professional Award by the Health Services Research Association of Australia and New Zealand for her outstanding contributions to research.

CHERE is now working with Cystic Fibrosis Australia to further investigate differences in costs, quality and outcomes of care.

C H A L L E N G E Can GPS tracking technology help the tourism sector enhance its destination marketing practices?

S O L U T I O N Destination NSW partnered with UTS Business School to paint a true picture of how tourists move between landmarks. In 2009, researchers at UTS Business School became the first to use GPS tracking, Google Earth and photo geotagging to analyse visitor movements in London, Canberra and Sydney.

The study revealed surprising results about visitor behavior, such as a reluctance to take buses, and disinterest in Sydney’s most charming laneways and backstreets due to inadequate signposting.

“This project revealed where people go, decision points in their journey, and neglected areas of the city,” says Olivia Jenkins, Manager of Strategic Insights at Destination NSW. “The use of spatial mapping technology was of great interest to us because it went beyond statistics and numbers to provide far richer insights.”

Destination NSW has been collaborating with UTS Business School as a research and internship partner for more than eight years.

“Our relationship is highly collaborative, so we know the research projects we undertake together will be relevant to the questions we need answered to do our jobs. All research is conducted with rigor, using careful quantitative processes to avoid bias,” says Jenkins.

Dr Deborah Edwards, Senior Research Fellow, Management and Tony Griffin, Senior Lecturer, Management are core members of the Cosmopolitan Civil Societies Research Centre at UTS Business School, which tailored research methodologies to help Destination NSW design more effective destination management practices.

UTS Business School later presented the findings to stakeholders including City of Sydney, Planning NSW and Infrastructure NSW, who were “blown away by the results”, says Edwards. The research has been used to inform Destination NSW’s strategic planning, and the 2010 Visitor Information Servicing in Sydney Report.

UTS Business School and Destination NSW are now working together to develop a mobile app, which will track the movements of tourists and examine barriers to visiting certain destinations.

“It’s a two-way relationship,” says Edwards. “We help Destination NSW solve the problems they need solved, and they provide us with the insights we need to conduct research with impact.”

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COURTENAY SMITH, EXECUTIVE GENERAL MANAGER - FINANCE, AUSTRALIA, PROJECT MANAGEMENT AND CONSTRUCTION, LEND LEASE

Career milestones: “I completed a Bachelor of Accounting degree at UTS, which is sponsored by industry partners, including Lend Lease. This gave me practical experience of how the business world works while I was studying. I developed a network of contacts, and subsequently have enjoyed a 14-year career with Lend Lease, including seven years in Singapore and London. Stepping across geographies has helped me develop subtleties in the way I operate, and understand how to drive value in different markets.”

Biggest challenge: “I was in London in 2007 and 2008 just before the GFC. It struck at a time when nobody in the industry thought we’d ever see a deflationary economy. Suddenly, we had to navigate a way through the challenges of the market, adjust our strategy, and help other people understand our vision. I learned that you never know everything: it’s important to keep learning and listening as you adapt to different economic cycles.”

Secret to leadership: “If you apply sound business principles, it shouldn’t matter what kind of economic cycle you are in. Post-GFC, business people are more cautious – the trick is to maintain that psyche as the economy improves. It’s important to move the business forward, without losing sight of the fundamentals.

“Providing vision and inspiration are very important. Leaders have to be able to accommodate change while being decisive. As a finance and accounting executive, I operate across disciplines: I don’t start and stop in one place.”

Courtenay was named one of AFR Boss magazine’s Young Executives of the Year in 2010.

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ELIZABETH FOLEY, CEO RESEARCH AUSTRALIA

Career milestones: “After undertaking a Bachelor of Business degree at UTS, I joined Unilever as a brand manager. For 20 years, I moved from blue chip to blue chip within the financial services sector, and in 2011 joined Research Australia as CEO. I am currently involved in the Australian Institute of Company Directors Chairmen’s Mentoring Program. Having a mix of men and women on boards is very important, and I feel I’ve got something to contribute.”

Biggest challenge: “The GFC was one of the most intellectually exciting periods that I’ve dealt with. I was a Director on AXA’s unit trust company board, and we found ourselves in unchartered waters. There was a sense of urgency and timeliness. Crises are a good time to stop and review your processes, challenge each other, implement scenario testing, and engage all the management skills you’ve learnt in the course of your career in a constructive way.”

Secret to leadership: “The ability to walk a mile in another person’s shoes is the basis of all business and marketing. Businesses will always need specialist skills, but they also need people who can break down silos and be a team player. Leadership is really all about emotional intelligence and teamwork, which is why my Bachelor of Business degree had such a profound impact on me. I’m genuinely interested in people, and in assembling great teams to bring out the best in people, which is a true sign of leadership.”

GUY TEMPLETON, PRESIDENT AND COO (AUSTRALIA/ASIA PACIFIC/SOUTHERN AFRICA), PARSONS BRINCKERHOFF

Career milestones: “While studying an MBA at UTS, I took on a role running a small division of transport company TNT. Taking on that challenge in parallel with business studies was terrific – there is no better way to learn than to apply new skills quickly and practically. That was the start of my career in business.

“I spent 14 years at PA Consulting Group, consulting in over 20 countries. I learnt that there is less difference between industries than many people think. The fundamentals of what drives us, and the issues that drive industry have a huge amount of commonality. Global experience helps you work out the basics of leading a business: how to lead people, solve problems, deliver results and engage a business with the community.”

Biggest challenge: “In 2004, I joined Minter Ellison Legal Group as CEO, without a scrap of knowledge of law. Leading around 300 Partners and a few thousand people in total was a significant step up. In a law firm your ideas never go unchallenged, usually with multiple, impeccably argued but diametrically opposed views being offered for any suggestion made. This was a time consuming and at times frustrating process, but led to better ideas than I could produce alone. Minter Ellison is now a much higher-performing business than it was.

“I am currently working in a global corporation with 14,000 people and it is no different – if you get people engaged in developing a solution, they are far more likely to get engaged in its implementation.”

Secret to leadership: “Someone once told me: ‘Leadership isn’t about changing people, it’s about getting the best out of them.’ Be curious about your customers, about your business and the people in it.”

Guy was awarded the UTS Alumni Award for Excellence - UTS Business School in 2011. He completed his MBA at UTS Business School in 1992.

CAMERON POOLMAN, CEO GRAYSONLINE

Career milestones: “I was working as an engineer at Eveready when I enrolled in a Masters of Business at UTS part-time. In 1995, I joined Grays as an auctioneer and valuer, and in 2000 I drove the company’s transition into an online auction business. Today, everything the company sells is transacted online. As CEO, I oversee 380 employees in Australia and New Zealand and more than 150,000 online sales every month.”

Biggest challenge: “The retail environment is changing so rapidly: there are multitudes of new competitors with the funds to compete, coupled with a strong Australia dollar, deflationary pressures, and a limited market size of 22 million people. This means GraysOnline has to stay agile and continually develop new services, and we have to know what’s happening in the global environment to predict how it might impact our business.”

Secret to leadership: “Any business leader will take a few wrong turns, but you need to stub your toe a few times to understand how things work, or you won’t move forward.”

DAVID BROMFIELD, ASSOCIATE DIRECTOR MACQUARIE PRIVATE WEALTH

Career milestones: “I joined PwC before moving to a business analyst role in Westpac’s Financial Planning and Advice business. I then moved to Macquarie, where I have spent the past 11 years. My current role is running the implementation of strategic business initiatives for Macquarie Private Wealth. The broad nature of the Business, Accounting and Finance degree at UTS helped me prepare for working in the financial services industry. Initially I worked in specialist accounting roles, but success is now related to being able to align different functional areas like legal, risk, marketing and IT. Studying other specialist fields enabled me to better understand how these areas work together to help drive successful outcomes for a business.”

Biggest challenge: “The speed of change impacting the financial services industry is significant in the current environment. Clients are getting more sophisticated and their expectations of service levels are changing accordingly. Also, ongoing regulatory change means we need to adapt business practices to not only be compliant, but keep ahead of best market practice. The development of IT is also increasing the speed of information flow and creating structural changes to the way that business is being conducted.”

Secret to leadership: “Good leadership, to me isn’t rocket science. The attributes of a good leader provide empowerment and an environment to be creative. Good leaders need to be clear on their expectations and vision for their business. Events like the GFC might shift a leader’s priorities, but I don’t think the fundamental attributes of a good leader have changed.”

UTS Business School alumni are confidently navigating some of Australia’s most influential organisations in an era of economic volatility, retail weakness, and regulatory complexity. We asked them to share their philosophies on leadership, integrative thinking and success.

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V I S I O N“I’m up for it” “ It’s a gnarly project a business school, not sexy like a museum or concert hall. We love the prospect. Thinking of it as a tree house came tripping out of my head on the spur of the moment and was not contrived. But on reflection the metaphor may be apt. A growing learning organism with many branches of thought some robust and some ephemeral and delicate.”

– Frank Gehry

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A T R A N S F O R M AT I V E

UTS appreciates the enormous generosity of Dr Chau Chak Wing, whose lead gift of $25 million has helped fund our new Gehry-designed building and a student scholarship program — Dr Chau’s is a gift that will benefit Sydneysiders and UTS students for generations to come.

We look forward to further commitments from the friends and partners of UTS and the Business School who wish to be associated with the Dr Chau Chak Wing Building, the leading edge programs it will host, and the future leaders it will inspire.Professor Ross MilbourneVice-Chancellor and President University of Technology, SydneyF

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UTS Business SchoolBuilding 5, Block B, Level 5Quay Street, Haymarket

Gauri Bhalla, Executive EducationKate McKenzie, External EngagementJane Westbrook, Development Phone | 02 9514 3503Email | business@uts.edu.au Web | www.business.uts.edu

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