BBS EQUIS 2021 - Accreditation Report by Bond University

EQUIS Reaccreditation Self-Assessment Report 2021

BOND BUSINESS SCHOOL, EQUIS REACCREDITATION SELF ASSESSMENT REPORT – 2021

EQUIS Reaccreditation Report - 2021

TABLE OF CONTENTS

Summary

Context, Governance and Strategy .................................................................................................................... 1-1

Programs ............................................................................................................................................................ 2-1

Students ............................................................................................................................................................. 3-1

Faculty ............................................................................................................................................................... 4-1

Research ............................................................................................................................................................ 5-1

Executive Education........................................................................................................................................... 6-1

Resources and Administration........................................................................................................................... 7-1

Internationalization ........................................................................................................................................... 8-1

Ethics, Responsibility and Sustainability ......................................................................................................... 9-1

10 Connections with Practice ............................................................................................................................... 10-1 11 Around Campus: Videos ......................................................................................................................................11

Date of submission to the EQUIS office: 11th July 2021 Name of the individual to contact: Professor Barry Burgan, Associate Dean Development Email: bburgan@bond.edu.au

EQUIS Reaccreditation Report - 2021

List of Tables Table 1-1: Bond Business School Student and Staffing Statistics, 2020 Table 1-2: National Student Experience Survey Results, Business and Management Programs –2020 Table 1-3: National Graduate Outcomes Survey, Business and Management Programs - 2020 Table 1-4: Strategic Priorities for 2020/21 Table 1-5: Strategic Priorities for 2021/22 Table 2-1: Bond Business School Program Portfolio – 2020 (as at September) Table 2-2: Bond Business School Graduate Attributes Table 3-1: Application to Enrolment Outcomes Table 3-2: Student Profile (2018-2020) – On-Campus Programs (Excluding Study Abroad/Exchange) Table 3-3: Source Regions for Domestic Students Table 3-4: Retention and Attrition Rates Table 3-5: Delivery of Employability Skills Table 3-6: BBS Alumni Career Profile – Top 15 Employers and Roles Table 3-7: Exchange and Study Abroad Bond Business School Table 3-8: Work Experience Placements – 2018-2020 Table 4-1: Distribution of Core Faculty by Discipline, 2020 Table 4-2: Core Faculty Movements, 2016 – 2020 Table 5-1: BBS Research Active Thresholds Table 5-2: EQUIS Table 2: Research Output for the Core Faculty over the 3-year Period: 2018-2020 Table 5-3: BBS Research Budget Table 5-4: Research Outputs – Summary by Pillar Table 5-5: Case Study Outputs 2018-2020 Table 7-1: School Income Statement Summaries – 2017-2020 actuals; 2021-2023 forecasts Table 7-2: Summary of BBS Strategic Initiative Funding Table 8-1: Internationalization of Core Faculty Table 8-2: Proportion of International Students in Bond Business School (Sept) Table 8-3: Country of Origin of International Students – BBS versus other Australian Schools Table 8-4: Aspects of Internationalization Within Subjects Table 8-5: Geographic Distribution of Business School Alumni – Top 10 countries Table 8-6: Industry placement statistics of International students by Year Table 8-7: Potential Strategic Partners with Current Exchange Agreements Table 8-8: Examples of Individual Faculty Membership of International Organizations

EQUIS Reaccreditation Report - 2021

1-1 1-13 1-13 1-17 1-18 2-3 2-4 3-1 3-2 3-3 3-4 3-6 3-10 3-12 3-15 4-1 4-3 5-2 5-3 5-5 5-10 5-14 7-2 7-4 8-5 8-6 8-7 8-8 8-10 8-16 8-17 8-19

List of Figures Figure 1-1: Bond Business School On-Campus Enrolment Trends by Origin (2017-2021) Figure 1-2: Bond Business School On-Campus Enrolment Trends by Discipline (2017-2021) Figure 1-3: Bond Business School In-Bound Exchange and Study Abroad Trends (2013-2021) Figure 1-4: School Organizational Structure – 2020 Figure 1-5: BBS Broad-Level Strategic Plan Targets For 2022 Figure 1-6: BBS Strategic Plan Major Themes Figure 1-7: Major Items of Progress and Achievements Against the Strategic Plan Figure 2-1: Student Evaluations of Subjects and Educators in Bond Business School. Figure 2-2: Recent Enrolment Trends – Bachelor of Actuarial Science Figure 2-3: Characteristics of Bachelor of Actuarial Science Students (2020) Figure 4-1: Demographic and Educational Profile of Core Faculty, 2020 Figure 4-2: Faculty Applications for Promotion, 2018 - 2020 Figure 7-1: Summary of School Budgeting Process Figure 7-2: Administrative Structure Figure 8-1: Country of Origin of BBS Full Degree International Business Students 2020 Figure 8-2: Inbound Exchange Students by Region – 2018-2020 Figure 8-3: Inbound Study Abroad Students by Region – 2018-2020 Figure 8-4: BBT MBA Student Numbers Figure 8-5: BBT MBA Student Profile Figure 8-6: Outbound Exchanges by Region – 2018-2019

1-5 1-6 1-7 1-9 1-15 1-15 1-16 2-13 2-16 2-18 4-2 4-11 7-4 7-9 8-6 8-7 8-8 8-11 8-12 8-14

Note – this report uses US spelling conventions throughout, except for formal titles (where it uses the actual title, which is based on Australian convention)

EQUIS Reaccreditation Report - 2021

Appendix Content Relevant Chapter

6 7 8 9 10

Appendix Item Number

Appendix Item Title

1.1 1.2 1.3 1.4 1.5 2.1 3.1 3.2 3.3 3.4 3.5 4.1 4.2 5.1 5.2 5.3 5.4 6.1 6.2

School Development Timeline Strategic Plan 2021 Update Strategic Plan Traffic Light Evaluation June 2021 Advisory Board Membership and Terms of Reference Media coverage re Transformer Projects Program Overview Work Integrated Learning Activities in Teaching Beyond Bond Business Students Report Career Development Centre – Employers Report Itineraries of Silicon Valley and China Study Tours Career Development Centre –Employer Engagement Report List of Core Faculty, 2020 Learning and Teaching Professional Development School Seminars – 2018-20 BBS Internal Research Seminar Series – 2018-2020 15 Example Research Articles List of faculty media contributions and media coverage 2018-2020 BBS - Publications related to Ethics, Responsibility and Sustainability Example web pages from Blockchain Short Course Media release re Entrepreneur’s Organization Short Course

9.1 10.1 10.2

Business Model Execution Projects BBS Corporate Relationships 2021 BBS Corporate Events – 2018-2021

Base Room Materials Base room materials will be provided on a SharePoint site, and will be structured into folders and sub-folders based on the standards

EQUIS Reaccreditation Report - 2021

SUMMARY Bond Business School – Background Bond University is the first private university in the Australian system that continues to be dominated by the public university sector 1. The University commenced operations in May 1989, and is made up of 4 Faculties/Colleges (Business, Law, Health Sciences and Society and Design). As a small university of a little over 4,000 full degree students it currently ranks in the top 30 world’s small universities by Times Higher Education. Bond Business School (BBS) is positioning itself as a school of the highest international reputation in both its research and teaching programs focused in the areas of entrepreneurship, data analytics and governance, accountability and purpose. In this context it offers a suite of business programs that are clear in their value proposition: of ‘high touch’ and high quality teaching that delivers a superior student experience and leads to exceptional job outcomes for graduates as reflected in the School’s mission: ‘Building tomorrow’s business leaders one by one’. The School and University consistently rank #1 in Australia for student experience, and has consistently scored five-stars in QS rankings over the past 5 years. The mission statement is ‘brought to life’ by the investment of significant resources to enable: • • •

Personalized small group teaching. A focus on learning outcomes that develop professionally, socially and cross-culturally skilled graduates specifically in terms of analytical ability, and entrepreneurial, impactful leadership, global orientation. Teaching undertaken by committed, supported and research active faculty and professional staff.

This commitment to this mission has seen recent investment in facilities (€3+ million in the last two years) and in terms of faculty resources (the staff to student ratio of the School in 2020 was 11.4:1 compared to the Australian public university average for Management and Commerce of 33.4 in 2019). Achieving the highest quality student experience is critical for the School in that as a private University it is fully dependent on student fees for its teaching revenue, whereas public universities receive a significant subsidy.

Major Achievements and Outcomes since 2018 Reaccreditation Bond Business School’s re-accreditation in 2018 co-coincided with the commencement of our current five-year strategic plan (2018-2022). The strategic plan encompassed the full range of activities, focusing on building a School that: • • •

Maintained our high quality teaching and student experienced outcomes. Focused our research into selected areas of strength, to build brand and relevance while maintaining a focus on academic quality but also increasing our research reach and impact. Attracting quality students from a diverse range of markets.

This focus is reflected in the targets set for the School within the strategic plan and in the strategies developed. Since the development of that plan and the accreditation, we have used the input from our EQUIS, AACSB and

There are 43 universities in Australia (40 Australian universities of which 37 are public, 2 private not for profit and 1 private for profit, two international universities, and one private specialty university).

EQUIS Reaccreditation Report – 2021

Summary

University reviews to further develop our strategies and actions and in so doing achieve highly credible outcomes in what has proved to be a challenging period for business schools worldwide. The impact of the global coronavirus pandemic has had a significant impact on the School, particularly in terms of anything that has required physically gathering in groups or in terms of international travel, in that Australia effectively closed its borders from March 2020 and they are expected to remain shut now until well into 2022. Despite the impact of this, the School believes its long term strategic intent remains sound, and we have in many areas made substantial progress. In summary, the major achievements over the three years since accreditation have been: •

•

• •

Significant improvements in our strategic planning processes, including: o Providing significantly more detail and accountability in terms of specific actions, and identifying KPI’s, resources and responsibilities throughout. o Including within the strategic plan the identification of short terms priorities, within the context of medium to longer terms strategies to better focus operations, with input from the School Advisory Board and in discussion with the School through regular State of Play (School update) sessions. o Annual updates of the strategic plan especially focused on those short-term priorities, setting priorities for the forthcoming year, and adapting the longer term strategy to respond effectively to environmental changes. This has proved especially important in 2020 and 2021 in response to the constraints created by the global pandemic. Constraints that were initially thought to dissipate towards the end of 2020 have continued into 2021 and given the very conservative response by the Australian Government will do so well into 2022. This has reduced numbers of international students, and global engagement by our own faculty and students. The annual updates include a review of performance against the priorities, and adapting actions based on this context and our achievement of outcomes. This has enabled us to reset our focus as needed. Continued growth in student numbers in newer programs to offset declines in traditional programs; over the last three years, actuarial science and data analytics program enrolments, first introduced in 2015, grew by 41%, offsetting the decline in our traditional programs. In addition, in the face of declining enrolments the School undertook a restructure of the on campus MBA, to increase its market attraction. Recognizing the need to respond to market pressures the School was successful in attracting students into a Bachelor in Business Data Analytics, but less so in attracting enrolments in a health focused MBA and education focused Graduate Certificate. The annual priorities review gave us a framework for stepping away from these projects that were not making headway, and we reoriented our efforts to alternatives. Maintaining our highest quality student experience outcomes, as evidenced by both external and internal validation; the latest Australian Government surveys have Bond Business School as the most highly ranked business school in Australia for graduate outcomes of student experience, and teacher evaluations, for example, 84.1% satisfaction re quality of education experience in undergraduate business programs in 2020 relative to 58.6% for Australian Go8 institutions; over 90% of educators receive a rating of 4 out of 5 or higher for overall teacher quality. Effective management of program delivery considering restrictions presented by managing COVID. In Semester 2, 2000 delivery was forced from face to face to online in very rapid timeframe Improved blended learning approaches, with a heavy emphasis on faculty support and with investment in support systems across all programs were delivered effectively and efficiency, with students remaining generally satisfied with their experience.

EQUIS Reaccreditation Report – 2021

Summary

•

Maintaining high quality academic research outcomes, as evidenced by the PRJ Research Activity Ratio of 2.82, with 68% of these publications in ABDC defined A and A* publications, while also increasing impact through: o Effective development of the three pillar strategy, to focus our research efforts into the clearly defined and brand building areas of “data analytics”, “entrepreneurship and family enterprise” and “governance, accountability and purpose (GAP)”. 60% of our PRJs align with one or more of the pillars. The pillar of Data Analytics has now been recognized as a University Centre, and the University has invested in a dedicated Centre building. The Entrepreneurship and Family Enterprise pillar has also been provided a dedicated space, and investment in faculty which has seen an increase in both publications and industry engagement. The GAP has clarified its positioning and is establishing its plans for extending its outputs beyond PRJs. o Success in attracting industry grants to fund research, especially through the activities of the pillars/centers, with €814,000 in industry research funds attracted over the last three years - funding HDR students, with positive feedback from the funders on the way it has impacted them (see Chapter 5). o Recognition of research outcomes. Three Business School academics have received Vice Chancellor’s awards for research performance over the last three years. o Achievement of targets with respect to case study publication, along with growth of the use of case studies in teaching. The School has published six studies with Ivey Publishing 2018-2020, with 4 of these being in 2020. It expects a further four in 2021, and importantly has now “earned” the right to co-brand with Ivey Publishing for any case studies produced by Ivey Publishing. The School also received a €25,000 alumni contribution to support case study production. Further building our profile through: o Effective preliminary steps into executive education and short courses with the School running three short courses/master classes in 2020, one of which was through the International platform “Future Learn” and received independent recognition as 9th most popular online courses worldwide attracting 48,000 registrants. The School plans to run short courses in 4 areas in 2021 and 10 offerings in 2022, with a target revenue stream of €250,000 by 2022. o Developing new and innovative industry engagement opportunities. The School actively supported the Business Council of Australia as a partner in the Business Now and Business How series of online seminars to provide resources for the business community as it deals with the economic challenges of the time. While the School has always had internationalization at its core in terms of the diversity of its student and faculty body, academic engagement, publishing, conference attendance, international learning experience, the 2018-2022 plan included an international action plan which was directed at continuous improvement in this space. The main elements of the plan were on: o Increasing the outcomes as above. o Greater international representation in our stakeholder processes. o Increasing our focus and positioning in Japan as a unique international proposition, building on our high quality MBA offering there, and adding tailored executive education, case studies on Japanese business, and to further engage with our alumni. o Increase our partnerships and relationships with quality global schools. Clearly COVID has had a significant impact on the progress in the internationalization aspects of our strategy. While we await the opportunity to re-engage with the items of our strategy that are travel dependent, we have made progress by focusing on the following items which we can control:

EQUIS Reaccreditation Report – 2021

Summary

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We have significantly increased the international experience in the Business School Advisory Board. Four members work and reside overseas, and almost all have significant overseas work experience past and present. Appendix 1.4 includes full membership details, including international experience. o We have re-oriented our plans for Japan, and focused more in the short run on effective delivery of our MBA, offering students an online alternative to one of the core pillars of the program which are study tours with face to face teaching and industry engagement opportunities. We have encouragingly seen an increase in enrolments in the program with new enrolments in the last three semesters (Sept 20, Jan 21 and May 21) up 45% on the same period a year ago. o The School/University has had a significant partnership with Ivey Business School, Western University, for many years, and attracts many students from Canada for exchange and study opportunities. The School has focused on enriching that partnership through its engagement with Professor Paul Beamish, through achieving co-branding in case study publication and increasing the engagement with respect to research outcomes. There has been significant investment in the facilities of the School, including: o Finalization and opening of the Business Commons; opened in December 2019, an almost €2 million investment in student learning spaces on Level 2 of the Business School building in a facility for students to study, collaborate and interact, consistent with our strategic focus of continuing improvement in student experience. o Aligned to our strategic focus on three research pillars; The School invested in construction of the Entrepreneurship and Family Enterprise Hub – this opened in February 2020, following an investment of €100,000 to create a co-working space for academics and HDR students aligned to this pillar. It was designed in the spirit of incubator hubs to encourage conversation, ideas and interaction. o Finalization and Opening of the FinTech Hub with a relocation and upgrading of the Centre as a modern working space. This was originally called the Macquarie Trading Room, and has relocated to a new, larger dedicated facility in mid-2019. The Centre houses the School's significant suite of Bloomberg terminals and accommodates classes using live data. There are 34 terminals in the FinTech hub across two rooms, and the investment cost was €250,000, including ticker, furnishing and fittings, but excluding the costs of the Bloomberg terminals. o Construction and opening of the Centre for Data Analytics; The investment of almost €1 million to relocate the Big Data Centre, along with renaming it. The Centre opened in November 2020 providing a new, larger facility with advanced technology with higher-end computers to process large data sets and co-locate students, faculty, and provide a space for meeting industry stakeholders. o

•

Strategic Directions Beyond 2021 As noted above, despite the environment change introduced by COVID the School believes the underlying directions in its 2018-2022 strategic plan remains appropriate. Consistent with the University Strategic Plan, it is framed around four themes (Programs, Practice, Profile and People). However, going forward, it is recognized that the environmental change produces both threats and opportunities that provide some reorientation of short-term priorities. Therefore for 2021/22 our strategic priority can be focus summarized as follows: •

To work effectively with University marketing and recruitment to maximize recruitment outcomes for existing programs.

EQUIS Reaccreditation Report – 2021

Summary

• • •

To continue to innovate in teaching delivery to meet expected future demands for flexibility and market-led engagement. To continue to innovate in terms of program content development, including market testing of new programs and expanded activities in short courses and microcredentials. To provide frameworks for the Governance, Accountability and Purpose pillar to expand outcomes in terms of funded research, industry impact and HDR students and thereby strengthen all three pillars as an underlying framework for the School to go forward.

The current strategic plan covers till the end of 2022. Therefore, a major task is to undertake a thorough process to review our strategic directions and to create a new strategic plan for the next period. While at the moment there has been no signal that there needs to be a major refocus, the review process could change that, and will include: • • • • •

Consultation with the University as it develops its own 2023-2028 Strategic Plan. Input from the Advisory Boards, representing industry and alumni. Sourced input from other current and prospective stakeholders. Input from faculty of the School. Input from current students.

This process will be undertaken over the first six months of 2022, with a new strategic plan approved by July 2022.

Summary of Performance Against Standards Standard

Positioning and Outcomes

Bond Business School sits within a highly regulated higher education sector in Australia which provides significant quality oversight and direction. The School has a long held mission of “Building tomorrow’s business leaders one by one” which guides its strategy by ensuring a student centric approach, but supported by research and teaching that are strong in the areas that tomorrow’s leaders will need, with a focus on three pillars. Continuous improvement outcomes in governance and strategy over the last three years include:

Governance and Strategy

• •

•

A restructuring of the School Advisory Board to expand external input, and specifically to increase international experience. Revisions to the strategic planning process by an increase in the level of detail, ensuring that outcomes and responsibilities are mapped, and by an annual review that established clear short term priorities. Emphasizing the focus on the three pillars that encapsulate our desired brand and supported activities that enhance that the impact of both our research and teaching.

EQUIS Reaccreditation Report – 2021

Summary

Standard

Positioning and Outcomes

Bond Business School offers generalist and specialist degree programs at the undergraduate and postgraduate level designed to meet market demands while also work to its chosen emphasis. It has had success in attracting students into the new programs of actuarial science and business data analytics, introduced from 2016. But there have been challenges in terms of market attractiveness of some of its other programs and therefore has been active in adapting to those challenges, for example the rebranding of the Masters of Business as a Master of Management for international markets, restructuring the MBA, and trialing other new programs.

Programs

The Associate Dean (Learning and Teaching) has led a substantial effort in terms of program quality assurance focus. This was commenced in 2017/18 and included a program review of assurance of learning systems, introduction of improved program management systems and investment in learning technology. This process has proved not only core for the future it has been very important in successfully navigating the changes required in response to COVID. 3.

Students

Students at Bond generally choose the Business School with a different expectation than the primarily public university sector in Australia. They expect a higher touch experience with greater engagement, which the evidence says is generally achieved. Undergraduate domestic students pay full fees which are close to triple the government supported fees paid at public Universities, while international and post graduate students fees match the fee levels of the higher branded institutions in Australia, the Go8, and as such also expect a quality experience. Entry standards approach those higher branded institutions. Greater engagement, higher touch is delivered by a small classroom environment, including online during COVID, by student led mentoring schemes, career and internship support, and by active student representation and clubs and societies. Feedback from students is an integral part of the learning teaching environment and is managed by the Associate Dean (Student Affairs) in partnership with the Business Students’ Association.

Faculty

Bond Business School is well resourced, with well-trained core faculty, a commitment that has been maintained over the response to the pandemic. Faculty are supported in professional development, and encouraged in terms of quality outcomes by a wide range of development programs, for example there was a significant investment in skilling up in online learning during 2020, national recognition awards and funding allocations for faculty development. Faculty are supported in personal and professional development by an Associate Dean (Faculty), a role that was created in 2020.

EQUIS Reaccreditation Report – 2021

Summary

Standard

Positioning and Outcomes

From its core and research-enabled faculty, the School manages its research with a focus on the three pillars and the following objectives:

Research

•

• •

Producing high quality academic research with a Peer Reviewed Journal (PRJ) Research Activity Ratio of 2.82, with 68% of these publications in ABDC defined A and A* publication. Ensuring impact by rewarding and encouraging industry grants, with €814,000 in industry research funds attracted over the last three years. Encouraging research dissemination by supporting engagement in academic and professional networks and conferences, and organization of industry engagement events.

Executive Education

Over the last few years, the Business School has undertaken preliminary steps to build up executive education activity, with short courses and microcredentials. It has put on four short courses and Master classes in 2019/20, has four more extensive and structured courses planned for 2021, and has a target of 10 in 2022, with an eventual target revenue of €300,000.

Resources

The University and School have a high-quality campus, set in an ideal location, and have in recent years invested some €4 million in improving facilities and infrastructure to improve the student experience.

Internationalization

Bond Business School has strong international representation in the makeup and diversity of its student body, the international experience and academic engagement of its faculty and the international background of its stakeholders. It has a unique international footprint in its MBA offered for 20 years in partnership with a small Japanese private University, with now over 1200 alumni who hold senior positions in Japanese and global industry. Given the interruption to international activity in 2020 and 2021 it has focused in the short term on ensuring that international students are not disadvantaged and discouraged. This has seen a significant shift to online and then mixed mode teaching. It has converted its face-to-face study tours in the Japanese MBA to online and ensured continuity in that partnership. It has worked on developing its longer term partnership with Ivey Business School beyond student exchange and specifically in terms of case study production and research. It has clarified its targets for its partnership strategy. The lifting of global travel restrictions will facilitate further advancement in the internationalization strategy given the premium outcomes we are seeking.

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Standard

Positioning and Outcomes

The Australian government’s legislative requirements for Universities have a strong focus on ethical and responsible behavior. The School works within that framework but further encourages this internally by:

Ethics, Responsibility and Sustainability

•

10. Connections with Practice

Encouraging the teaching of ethics in practice, through processes initiated through its PRME membership and consistent with professional accreditations including accounting and CFA. More than 70% of subject taught included general issues related to business ethics, CSR and/or sustainability. The development of the Governance, Accountability and Purpose pillar has, along with PRME commitments, increased the focus on these areas in research. School faculty had over 30 PRJs in the period 2018-2020 in this area. Students are encouraged and supported through the operation of the Student Philanthropy Council, and through University support of Indigenous students, including through scholarships. Faculty perform professional roles as volunteers within not for profit and community organizations.

The Business School has extensive engagement with practice, overseen by the Associate Dean (External Engagement). These include: • •

• • • •

Business/stakeholder involvement in the advisory process, with industry input provided into strategic directions and program development. WIL opportunities – including external projects through Beyond Bond (compulsory for all undergraduate students) and research projects in postgraduate. Industry participation in the classroom (eg guest lecturers, case studies). Industry funding of research, as noted above. Hosting of events for example Business Links, Business Leaders Forum etc. Partnerships: o With Business Council of Australia (Business Now and Business How series. o With World Surf League, allowing a surfing business specialization in our Sports Management program. o Developments in executive education and short courses.

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CONTEXT, GOVERNANCE AND STRATEGY

1.1

INTRODUCTION

As Australia’s first private university, established in 1989, Bond University is recognized as a leading independent international university. The University is a not-for-profit private University existing in a landscape dominated by public Universities, with surpluses reinvested in improving student experience. Bond University is situated on the Gold Coast in Queensland, Australia. The Gold Coast is the sixth largest city in Australia and the nation’s biggest non-capital city. The Gold Coast weather, lifestyle and beaches means it is a global and national tourist destination attracting 12 million visitors each year, and the city’s economy has diversified to include education, sports, film, the arts, health, food production, IT, and advanced manufacturing. As at September 2020, the University had 4,090 students enrolled (3,673 EFTs) in on-campus and off-shore programs, while Australia’s public universities have an average of approximately 25,000 EFTS). The small size is key to our core comparative advantage as it enables truly personalized student services. The outstanding student experience achieved is evidenced by achievement of the highest possible ratings for student experience measures in the Good Universities Guide for over the last decade. Bond Business School is one of four faculties at the University, and represents approximately 19% of University enrolments and income. The other faculties are Health Sciences and Medicine, Law, and Society & Design. The School offers undergraduate, postgraduate coursework and research programs to a diverse student body. Table 1-1 summarizes the core statistics regarding the School’s operations.

Table 1-1: Bond Business School Student and Staffing Statistics, 2020

Undergraduate Students Postgraduate Coursework Students – On campus Specialist Postgraduate Coursework Students – MBA, On Campus Higher Degree (M Phil, PhD) Research Students Degree Total - On campus full degree students Postgraduate Coursework Students - Off Campus Total Full Degree Students Exchange/Study Abroad Total Students 2 Student Tuition Income (2020) Faculty (number)

Number 418 118 46 42 624 155 779 153 932

% 45% 13% 5% 5% 67% 17% 84% 16% 100%

Core Non-Core (Adjunct/contract)

% Domestic 72% 43% 91% 71% 68% 0% 55% 0% 46% €12.3 million

% International 28% 57% 9% 29% 32% 100% 45% 100% 54% 45

33 (10.6 FTE)

The Effective Full Time Student Load associated with the total student bodies of 932 is estimated as 635. Therefore the FT student:staff ratio is estimated at 11.4. The student staff ratio for Bond University in 2019 was 13.7 compared to the overall University sector 21.8 (https://www.dese.gov.au/highereducation-statistics). Calculations based on FT student load and faculty FTE in management and commerce programs from this source indicate a full time student staff average ratio for business schools of 33.4. The full time student load to core faculty ratio is 14.1.

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1: Context, Governance and Strategy

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1.2

COVID IMPACT STATEMENT

The critical factors that have faced Bond Business School because of the global pandemic, and the Australian government response 3 has included: •

•

The significant threats of the virus became apparent from February 2020 and into mid-March when the Australian government introduced strong social distancing rules and limits on size of gatherings. As Bond University has a three semester system, the School was in week 8-9 of our 12 week teaching semester as these rules were introduced and so enrolments in semester 1 (January commencement) were not significantly affected. However, options were introduced to allow students to choose to study online, and to implement alternative examination options. For the May 2020 semester the School rapidly had to shift to offering all its program in online mode, as well as accommodate staff and faculty working from home. Given that most of its teaching had previously been on campus, that required considerable development work by faculty. A major focus in this change has been to ensure continuation of the School’s core point of market differentiation of maintaining an outstanding student experience. Bans on international travel by the government has meant that the international student market for the May semester and beyond was severely impacted, both in terms of full degree programs and in study abroad, which is a significant part of the School’s international presence. These bans remain in place at the time of preparation of this report, with expectations being that restrictions might be lifted in early 2022. While to this point, some international enrolments have been maintained with some from internationals already in the country, and some choosing to study from overseas, the longer this takes to resolve, the greater the risk to current and future numbers as students adjust their expectations. A positive aspect is that Australia’s very low rate of COVID infection may help it to be seen as safe haven for study going forward. The short and possible longer term loss of international students has had significant financial implications for the School, and therefore cost management has been critical to ensure financial viability going forward. The main approaches to cost management have been to rationalize subject delivery, while not disadvantaging students, and expanding teaching inputs from core faculty, thereby reducing the demand for casual teaching. State-by-state border restrictions based on COVID outbreaks have also impacted on domestic student recruitment from interstate, exacerbating the issues related to international students.

In many ways the Australian Government’s response to COVID have been remarkably successful. Australia has had a total of 31,000 cases and 910 deaths, or an infection rate of 1,173 per million people, and death rate of 35 per million. This compares to a global average infection rate of 22,528 per capita, and death rate of 486 per million (https://www.worldometers.info/coronavirus/ 11th June 2021). The majority of cases in Australia have been from Australians returning from overseas, and the majority of deaths are in the aged care community. However, the response has put significant constraints on areas of the economy, especially tourism, hospitality and entertainment, and higher education and resulted in lower vaccination rates and limited herd immunity – which is expected to see constraints continuing to be imposed well into 2022.

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1.3

ENVIRONMENT

AUSTRALIAN HIGHER EDUCATION SECTOR The Australian Higher Education (HE) sector comprises 41 universities of which 37 are public, and these public institutions represent over 90% of university enrolments. The public institutions include the Group of Eight (Go8), the traditionally research-oriented institutions, and 29 institutions whose traditions are more applied and/or regional. Two of the four private universities rely on public funding, while one is for profit. There are also some 140 non-university providers of higher education programs, many of whom offer undergraduate and postgraduate business programs. In total across the sector, almost 1.7 million students are enrolled with 67% of the enrolment domestic, and 25.1% of the total number enrolled in business programs 4. Public universities receive significant subsidies for their undergraduate teaching of domestic students, and students themselves pay a significantly smaller amount, while non-university providers are not required to undertake significant levels of academic research, and as such also charge lower fees for students.

REGULATORY FRAMEWORKS Australian universities are self-accrediting. Each university has its own statute, usually granted by the relevant state government. Public universities receive federal government funding based on provisions of the Higher Education Support Act 2003. The Education Services for Overseas Students Act 2000 (ESOS) covers foreign students studying in Australia on student visas. The federal Department of Education and Training is responsible for administering tertiary education and research, and for developing and administering various higher education innovation and research programs. These include funding of public university places, the HELP scheme which provides financial loan assistance to students, and a range of research programs and grants. The Tertiary Education Quality and Standards Agency Act 2011 established an independent statutory authority, TEQSA, responsible for HE regulation and administration of the ESOS Act. TEQSA registers and evaluates the performance of HE providers against four Threshold Standards which providers must meet: • • • •

Registration Standards which cover issues of viability, governance, academic quality, management, human resources and infrastructure. Category Standards which define characteristics of an Australian university compared with an overseas university. Course Accreditation Standards covering program design, admission criteria, teaching and learning quality, assessment and program monitoring. Qualification Standards which classify qualifications by type or level – for example Diploma compared with Bachelors. The Australian Quality Framework (AQF) provides descriptors for each level of qualification.

Bond has maintained its University status since its inception in 1989 and was re-registered in 2017, after a TEQSA review, for a further seven years (the maximum period granted). The Threshold Standards are consistent with, and reinforce, the School’s aim to provide the highest quality education experience for students.

https://www.dese.gov.au/higher-education-statistics/resources

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STATUS OF DEGREES The Australian Qualifications Framework (AQF) provides descriptors for qualifications accredited through the HE sector, with those relevant to Bond Business School being: Level 7 - Bachelor degree Level 8 - Bachelor Honours degree, Graduate Certificate and Graduate Diploma Level 9 - Master degree Level10 - Doctoral degree

HISTORY OF THE SCHOOL Bond University was opened in 1989 and from the first intake took students into business programs – with it first programs being undergraduate, degrees, an MBA and a PhD. Over the years it has modified and expanded its program offerings to respond to market and stakeholder needs. The major changes are summarized in a timeline presented in Appendix 1.1. This timeline shows the major changes within the School’s development. Throughout these changes the School maintained its core competitive advantage (especially relative to Australian business schools), namely an enduring student to staff ratio of approximately between 11 and 13 to 1 (11.4:1 in 2020). Figure 1-1 illustrates the trends in student enrolments by origin from the end of 2017 (data since our last accreditation report). The School (and University) was challenged in the decade from 2010 by market pressures, mainly uncapping of public University places and a very high Australian/US dollar exchange rate. The School has demonstrated the capacity to adapt to changing environmental circumstances, a capacity for managing strong growth effectively in response to favorable changes in its environment. The pressures of 2020 because of the global pandemic and cessation of international travel have somewhat limited outcomes due to a reduction in international student numbers, although less than might have occurred in that we moved to offering all of programs firstly in online mode and then in synchronous mixed mode). It has also been offset somewhat by improved domestic recruitment (with COVID generating increased interest in education). At the national level, the numbers of students enrolled in management and commerce programs across the higher education sector in Australia grew slightly, but much of this was in on-line programs – where enrolments grew by 6% between 2016 and 2019, compared to a decline of 2.5% for face-to-face programs. The disparity was stronger in the domestic market, where internal programs fell by 10% while online programs grew by 8%. It was further enhanced by the growth of enrolments in University private providers, who set up cheaper programs aimed at attracting international students who would not gain direct entry into Australian University. As noted above, a domestic student doing a Bond undergraduate business degree pays of-the-order of three times the amount for their degree than the amounts directly paid by students at the public Universities. One aspect that move slightly in the favor of Bond Business School is that the Australian Government has increased the amount that domestic undergraduates need to pay for the tuition, with business students facing the greatest increase (by 27%) and thereby, somewhat helping regarding the price differential.

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Figure 1-1: Bond Business School On-Campus Enrolment Trends by Origin (2017-2021) 900 800 700 600 500 400 300 200 100 0 2017 Sep

2018 Jan

2018 May

2018 Sep

2019 Jan Domestic

2019 May

2019 Sep

2020 Jan

2020 May

2020 Sep

2021 Jan

International

More specifically, traditional programs in accounting and finance that have underpinned business school enrolments in Australia, and were the largest enrolment group in Bond Business School, have been in decline across the Australian university sector over the last decade. There has been a significant shift in the accounting profession in Australia as the firms have substantially rebranded as service firms, and no longer employ mainly accounting graduates, but look to graduates from any area 5. Accounting has also been dropped from the curriculum in secondary schools. The finance industry has gone the other way and increased the regulatory requirements, especially for careers in financial planning and therefore shifted the market to those institutions which have fully structured financial planning degrees. Bond finance degrees are more focused towards managerial finance. Further there has been a market limiting significant contraction in employment within financial planning in Australia. These changes have impacted Bond Business School, with a decline by 30% over the last 4 years in the Commerce stream, which includes the Bachelor of Commerce, majors in Accounting and Finance, Masters of Accounting, and Masters of Finance and Financial Management. Therefore, from 2016 a core focus has been the introduction of new programs, and some successes have partially offset or even partly explain the decline in the accounting and finance areas. The decision to offer Actuarial Andrew Hunter, CEO, CPA Australia:“… fewer young people than historically has been the case are attracted at an early age to pursuing a career as an accountant. Subsequently, they are not studying accounting as a discipline …” https://www.ifac.org/knowledge-gateway/preparing-future-ready-professionals/discussion/futureaccounting 5

Sydney Morning Herald, 19 October, 2020: “… Accounting job ads had declined by almost 44 percent …” https://www.smh.com.au/politics/federal/thousands-of-university-graduates-to-face-worst-job-market-in-30years-20201016-p565sb.html Intheblack, “Next-gen accountants: Will they have the right mix of skills?”, 1 June 2021 (today!): “… A recent report by Accenture forecasts that, in the very new future, statisticians, data scientists, behavioural scientists and economists would be as common within larger organisations as accountants…” https://www.intheblack.com/articles/2021/06/01/next-gen-accountants-right-mix-skills; KPMG Gold Coast website: “We recruit across a range of degree disciplines, skills, abilities and backgrounds …” https://home.kpmg/au/en/home/careers/graduates/what-we-look-for.html EQUIS Reaccreditation Report –2021

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Science programs (2016), and then complement this with Business Data Analytics (2019) has been particularly successful as illustrated in Figure 1-2. We would expect some further growth in the Actuarial Science program in coming years as the reputation of the program grows. Our target is to maintain the growth rate of the last three years of 5 to 10% per year and we expect even higher growth in the business data analytics area. The postgraduate program was launched in January 2019 and now has 24 students enrolled (71% international) and we will target doubling that number by 2023. The undergraduate program was launched in January 2020, has 7 students enrolled in September 2020, again mostly international, and we would target of the order of 50 students for this program going forward. The success of the Actuarial Science degree, and indications of the market of demand for this area has to some extent shifted some of the students who would have done Commerce into Actuarial Science. Further it is our observation that the more recent increase in enrolment in the general business programs is in part students who would have gone into Commerce reacting to the job market changes and look for more entrepreneurship and other business skills. It remains clear that continued evolution and innovation in program offerings to match market needs will need to be a core focus going forward. Therefore we have made substantive changes and re-introduced a reinvigorated MBA structure in 2020, increasing the use of short-term intensive teaching or boot camps for core technical skills and placing stronger emphasis on leadership and entrepreneurial skills. We have a significant emphasis on microcredentialing opportunities in 2021 and 2022. Sports Management was shifted from the Faculty of Health Science in 2018 with the aim of making it more a management focused degree and while still having relatively smaller numbers, the impact of that change now seems to be producing results. While numbers in the Hotel and Tourism Management degrees remain small, the numbers in hotel and tourism management subjects are strong as students from other undergraduate degrees, especially Bachelor of Business, take them as a major.

Figure 1-2: Bond Business School On-Campus Enrolment Trends by Discipline (2017-2021)

Figure 1-3 shows the increase in Study Abroad and Exchange inbound students that occurred in 2013 and 2014, partly in response to increased recognition of Bond University and Australia as a student travel destination, and a favorable exchange rate. These results have been very important to the School in terms of internationalization outcomes and financially. Large numbers of these students are from the USA and Europe coming during the northern hemisphere winter. These then remained relatively steady over 2015-2019, with slight declines in 2018

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and 2019 due to less favorable exchange rates. But this is an area that COVID has had a major impact – both financially and in terms of student balance. The 2020 numbers were primarily achieved in the January semester of 2020, and there have been no short-term students since then. Therefore, it will be very important to focus on recovering that student base once Australia opens its international borders.

Figure 1-3: Bond Business School In-Bound Exchange and Study Abroad Trends (2013-2021)

SOCIETAL ENVIRONMENT The School recognizes that while it is an international and national provider, it also has a commitment to the local community to raise aspirations for tertiary education (with participation on the Gold Coast lower than the national benchmarks). The University has an engagement program which promotes creative expression, business leadership and big ideas, and hosts free events on campus. About 10% of revenue is reserved for academic merit scholarships and needs-based bursaries. High school students are invited on campus to experience university courses and career paths. The School works with organizations to provide industry relevant programs and work experience opportunities. Additionally, the School works with the Gold Coast City Council to incorporate innovation and education to promote the creation of employment in the region. The School also supports Aboriginal and Torres Strait Islander communities through scholarships and dedicated Indigenous student support that is succeeding in sector-leading retention and completion rates.

1.4

INSTITUTIONAL STATUS

Bond University Limited (BUL) is the parent institution established under the Bond University Act 1987 of the Queensland Government. The University is a corporation limited by guarantee under the Corporations Act 2001. The Constitution of the corporation provides that the Board of Directors acts as the Council of the University. The Constitution of the Company provides for 30 ordinary members elected from alumni, students, staff, and community. Ten directors (Councilors) are appointed by the ordinary members for three-year terms and serve no

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more than two consecutive terms. The Chancellor is a director of the company and acts as the chairman of the Board of Directors (Council). The Vice Chancellor, Professor Tim Brailsford, a former EFMD board member, acts as the Chief Executive Officer and has a seat on the Board. Other than the Vice Chancellor, the other nine Councilors are independent and are appointed based on their skills and experience. Council meets seven times per year. Victor Hoog Antink, the Chairperson of the School’s Advisory Board is also a member of the Council. Two other members of Council are Business School alumni. An Audit and Risk Committee and a Nominations Advisory Committee are sub-committees of Council. The Academic Senate is the advisory body to the Vice Chancellor and the highest forum for academic discussion. The School’s representatives on Senate are the Executive Dean, a School member appointed by the Executive Dean and one elected member from the School. The Senate formulates academic policies and has oversight of the School’s standards for courses, assessment, requirements for admission and the granting of degrees. Matters are referred from the School’s Executive Committee to Academic Senate for consideration and in some cases, ratification. Students are represented on major decision-making bodies including the Academic Senate. Executive level managers meet regularly with student representatives. Decisions arising from consultations are substantive.

1.5

EXTERNAL GOVERNANCE

The University has a highly devolved management structure. Executive Deans exercise discretion over administrative and academic affairs within the context of broad University policies covering finance, marketing, human resources and technology services. Executive Deans report directly to the Vice Chancellor. The peak management body is the University Management Committee (UMC). Meeting monthly, this committee is chaired by the Vice‐Chancellor, it includes the Vice Presidents, the Registrar and other senior administrative staff, the Provost and the Executive Deans. The School has considerable flexibility within the University’s framework. The School’s strategic plan, operational plan and budget are subject to approval and are consistent with the University’s strategy. The Executive Dean is responsible for the School's financial and operational obligations. Within these boundaries, the School operates as a separate business unit and profit center with an expectation that a portion of profit be returned to the University. The financial plan is structured around the annual budgeting process described in detail in Chapter 7.

1.6

INTERNAL GOVERNANCE

Professor Terry O’Neill was appointed as Executive Dean of the School in mid-2016. The Executive Dean has the support of six Associate Deans and a School Business Director as outlined in Figure 1-4. These roles comprise the School Executive Committee (SEC), which receives reports from the various School subcommittees, including the Student Liaison Committee and the Learning and Teaching Committee, which includes student representation. The Executive of the Business Student Association meets with the Associate Dean (Student Affairs & Service Quality) regularly, and they chair an open meeting between faculty and students once each semester. The structure was modified from that presented in our 2018 reaccreditation, with the introduction of an Associate Dean (Faculty), to increase the focus on faculty wellbeing and performance and the management of individual personnel needs.

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Figure 1-4: School Organizational Structure – 2020

Associate Dean roles are aligned with core focus of the School and ADs are expected to allocate 20% additional service time to their role (with a teaching offset). Therefore the 6 Associate Deans represent an FTE of 1.2 in providing the leadership direction to the School to complement the roles of the Executive Dean and the Business Director. The School has a structure without Heads of Discipline to reflect its size and to encourage a multidisciplinary academic platform. Full Professors are expected to provided mentoring to faculty in their discipline.

The School has two Advisory Boards. The Business Advisory Board provides advice to the Executive Dean on strategy development and execution for the School. Board members come from a variety of backgrounds, including the business community, schools, parents and alumni, and provide a diverse set of perspectives in

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relation to Board agenda items. An International Hotel and Tourism Management Board provides support and advice in this area. The Business Students Association (BSA) is an elected body and represents students’ interests. It provides the link between students and faculty. The BSA coordinates the class representative system, arranges peer-assisted study sessions and organizes a range of social events. BSA representatives sit on several of the School’s committees (see below).

1.7

VISION, MISSION AND VALUES

The Vision, Mission and Values statement was subject to a major review in the preparation of the current strategic plan (2018-2022), and has been subject to minor edits with each annual review to ensure it remains consistent with the strategic direction of the School.

Vision

Mission

To be the place of choice for tomorrow’s business leaders to study and learn their craft. We will be widely acknowledged, both nationally and internationally, as the benchmark in providing an uncompromising commitment to a premium student experience, focusing on our recognized research strengths in analytics, entrepreneurial thinking and Governance, Accountability and Purpose, and through developing leaders for society.

Building tomorrow’s business leaders one by one. In achieving this mission we: • Develop professionally, socially and cross-culturally skilled business graduates with learning outcomes focusing on analytical ability, and entrepreneurial, impactful leadership through participating in a rigorous, innovative, small-class and high-engagement learning experience. • Are a national and global leader in staff performance and commitment, academic program quality, and graduate satisfaction and outcomes. • Bring together students and staff to share diverse perspectives and ideas from around the world. • Generate knowledge through high-quality research that contributes to theory and practice in business disciplines and business education, and strengthens our ability to deliver our graduate outcomes.

•

Value quality over quantity in everything we do.

Values • • • • •

Respect and concern for students and colleagues. Truth, inquiry and the pursuit of advanced knowledge. Excellence in everything we do and pride in achievements. Effective collaboration and teamwork. Accountability for performance, actions and learning.

•

Productive engagement between students and staff.

The mission includes the unique and differentiating phrase: one by one. This phrase has important meaning to the School’s faculty and students, and using the benefit of our size, scale and resourcing, the commitment is that each student is important and provided individual attention at all points in the university value chain, demonstrated by:

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• • • •

Each student has both an academic and senior student mentor in their first year providing individual teaching and learning support, career advice and career planning. Students who have failed subjects are provided with individual and specialized support in the following semester in a program known as the Business Academic Support Program. Faculty have deep knowledge of each student in their class – including their learning strengths and weaknesses and interact accordingly both inside and outside the classroom. The emphasis on each student is consistent with and supports the University’s mission as it adds to delivering a personalized and transformational student experience.

Therefore the ‘one by one’ aspect of the mission is an integral part of the School’s identity and brand and is unique in the Australian landscape. It appears in all School documents intended for public circulation, on the School’s website, in the School’s Strategic Plan. The School’s societal obligation emerges from Bond’s unique position in the Australian education sector. This sector is dominated by publicly funded universities and their business schools which have regulated pricing and are often underfunded. The common response in Australian institutions has been to compete on size and capture the benefits associated with economies of scale. Bond Business School uses the advantage of its size to provide a level of student service and engagement that is not possible in the sector more broadly.

1.8

CURRENT STRATEGIC POSITIONING

The School competes in three related domains: •

•

Teaching and Learning - The School is a full-line provider of undergraduate and postgraduate programs recruiting from selected domestic and international markets based on a personalized, tailored learning experience, high quality resources per capita, diverse international student population, accelerated teaching program and ideal location. Research - The School aims to conduct high value focused research, presenting in quality peer reviewed journals that impact and contribute to the knowledge base of disciplines, including pedagogy, and related business practices in our areas. External Partnerships - The School aims to develop mutually beneficial partnerships with external parties including business, government, professional associations, secondary schools and other community organizations, through initiatives which confirm the School as a thought leader, provider of professional development and networking opportunities, a source of highly employable graduates, and a source of research support from faculty and students. In return, the School seeks ongoing support from these various groups including advice, advocacy and resources.

In its recent strategic planning process, the School has committed itself to meet the needs of the corporate community in terms of entrepreneurship and innovative leaders and in the increasing role data analytics plays within society. In doing so we are very aware that most universities and business schools globally are also looking in this direction, and therefore it is important that we have a unique value proposition in the way we approach this.

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KEY COMPETITORS In general, the School occupies a niche position in the market offering a quality learning experience at a premium price. The selected undergraduate markets include collegiate or private secondary schools both locally and internationally. The School views the Go8, and locally, University of Queensland, Queensland University of Technology, and Griffith University as competitors. All have quality international brands and a price advantage for domestic undergraduate students due to government funding and advantages of location in major cities, and large alumni bases. The School obviously also operates within a highly competitive international education marketplace. The School’s programs have been traditionally delivered fully on campus except for the BBT Global Leadership MBA program, which is designed exclusively for Japanese executives. The Bond - BBT MBA program is delivered in partnership with Business Breakthrough, a small private Japanese University and is a mixed mode program, with the ‘one by one’ experience provided in compulsory study tours and intensive formats. The School has a cohort of international students from some 50 countries, creating a dynamic, multicultural community.

RANKINGS AND RATINGS •

•

• •

Bond University is Australia’s highest rating university for Educational Experience in the 2021 Australian Good Universities Guide. For over a decade of consecutive years, Bond has been awarded more five stars in the ‘Educational Experience’ category, than any other university in Australia, and has achieved more 5-star ratings for student experience than any other university in Australia, according to the 2021 Good Universities Guide. The specific areas in which Bond received five stars were: Overall Quality of Education, Teaching Quality, Learner Engagement, Learning Resources, Student Support, Skills Development, Student Development and Student Teacher Ratio. Bond University ranked number 1 in Australia for Business and Management in Learner Engagement, Learning Resources, Student Support, Skills Development, Overall Quality of Educational Experience, and Teaching Quality. Significantly it ranked number 1 in employer satisfaction from 2017-2019 in the 2019 Quality Indicators for Learning and Teaching. Bond University’s leadership in teaching excellence in Australia is further affirmed by prestigious Citations in the Australian Government's Awards for University Teaching, which recognizes outstanding contributions to student learning, with Business School faculty often receiving national level citations in the last 5 years. Two senior faculty received recognition in 2021. Bond University undertakes world standard research as confirmed in the Excellence in Research for Australia (ERA) assessment, and is rated world standard in the field of Business and Management. Bond University was awarded the maximum five stars overall in the 2020-2022 international QS Stars Ratings. In addition, Bond received five-star ratings in the following categories: Teaching, Employability, Academic Development, Internationalization, Facilities, and Inclusiveness. The QS World University Australian Ranking rank the Bond University MBA as 13th in Australia Bond is ranked at 30 globally in the Times Higher Education (THE) Rankings of the Best Small Universities in the World (2020).

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The School has both EQUIS accreditation and accreditation from AACSB International, and is one of only four business schools in Australia which is a full member of GMAC.

•

In addition to the above rankings, the School’s focus on the student learning experience is further demonstrated by high levels of student satisfaction, as displayed in Table 1-2 and Table 1-3 which show the results of Australian Government surveys issued annually to students. Bond Business School was again in 2020 ranked as the # 1 University in Australia across all aspects of student experience in undergraduate and # 1 in overall experience in postgraduate business and management programs, and in 2020, the School’s COVID response has seen our relativity to national average improve even further from its already strong position.

Table 1-2: National Student Experience Survey Results, Business and Management Programs –2020 Undergraduate

Postgraduate

Bond

Australia

Go8

Bond

Australia

Go8

Quality of Educational Experience

84.1%

66.3%

58.6%

83.0%

66.2%

60.1%

Teaching Experience

90.1%

73.2%

67.8%

87.9%

76.1%

72.0%

Learner Engagement

89.4%

73.9%

67.8%

84.3%

77.0%

72.9%

Learner Resources

75.2%

41.5%

36.1%

66.0%

43.1%

39.2%

Students Support

94.7%

75.5%

69.2%

92.0%

72.8%

68.9%

63.5%

85.7%

72.5%

67.7%

89.6% 70.5% Skills Development * Australia results exclude University of Divinity and Torrens University Source: 2020 SES Universities Australia Data file

Table 1-3: National Graduate Outcomes Survey, Business and Management Programs - 2020 Undergraduate

Postgraduate

Bond

Australia

Go8

Bond

Australia

Go8

Overall Satisfaction

92.9%

78.4%

74.7%

92.2%

82.5%

82.8%

Good Teaching

91.8%

58.9%

53.4%

80.4%

71.4%

71.3%

Generic Skills

94.1%

80.0%

76.6%

90.2% Source: https://www.qilt.edu.au/qilt-surveys/graduate-employment

82.6%

84.7%

1.9

STRATEGIC PLANNING PROCESSES

The School’s 2018 initial accreditation was achieved under a strategic plan for the period 2018-2022, with the current version being the June 2021 update, which was developed with the following processes: 1.

Initial strategic plan developed in 2017, based on a series of internal workshops, interaction with the University Strategy and Planning Unit and using the Business School Advisory Board as the prime source of external stakeholder input. The plan was presented as an overall strategy, but also included specific consideration of research and internationalization aspects of the plan as core focus areas for the School. This was approved by the Board in October 2017 for implementation in 2018. Based on feedback from the School’s EQUIS accreditation visit in 2018, the plan received its first annual update which was approved by the Advisory Board in June 2019. This update involved expanding the detail and actions around the strategies for both the overall plan and the research and

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internationalization plan. This included ensuring that as well as broad level targets, there were KPI’s, timelines, budget considerations and responsibilities allocated against all strategic actions. The annual review leading to the June 2020 update focused on responding to the changed environment of a COVID impact global environment, including amending targets and KPIs based on expectations, along with providing a focus for the coming year, drawing out from the extensive strategy and level of activities for the core short term priorities. The annual review leading to the June 2021 update is focused on further modification of short- term priorities based on COVID constraints extending beyond 2020, along with further expansion of risk assessments given ongoing uncertainties. From early 2022, the processes will need to be commenced for the development of a 2023-2027 plan. This will revisit the steps of interaction with the University Strategy and Planning Unit and using the Business School Advisory Board as the prime source of external stakeholder input.

The June 2021 update of the strategic plan is included as Appendix 1.2.

1.10 STRATEGIC DIRECTION AND OBJECTIVES The broad level principles that underpin the 2018-2022 strategic plan are that we are: •

•

A ‘boutique’ business school using our size to advantage to deliver an exceptional student experience. This will include a combination of maintaining small and interactive classes, focusing on strong student engagement within all programs, and ensuring all students are engaged in work integrated learning. Focused in our research and teaching on key areas that will deliver the best outcomes. Given our size we cannot be all things to all people. Our emphasis will be on extending on our long term and historical strengths in entrepreneurship, building our brand in data analytics and developing a reputation in research into governance, accountability and purpose in business activity. Leveraging our size to be adaptive and responsive to changing market conditions by ensuring curricula is regularly updated to reflect current corporate issues and by program renewal to reflect market needs relative to our underlying focus. Maintaining the quality and distinctive strengths of our programs to produce well rounded graduates that meet the needs of employers in a global market, and enhancing the experience of our students. The unique diversity of the student and faculty base will be supported by a focus on international business leadership in curriculum design and in provided student experiences.

As part of our annual review of the strategic plan the targets for the plan have been slightly modified in the 2020 and 2021 updates, to reflect the impact of COVID, and are presented in Figure 1-5:

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Figure 1-5: BBS Broad-Level Strategic Plan Targets

Maintain our “best in Australia” student experience rankings and achieve consistent improvement in other rankings

Be recognised globally for our research, practice and teaching in our three pillars of Entrepreneurship and Family Enterprise, Big Data, Governance, Accountability and Purposem, and for experiential learning

Rebuild our enrolments (EFTSL’s) by 2023 to the 2019 base with the increase from a combination of existing programs and new programs.

Maintain our focus on the diversity in our student base

Achieve improved research outputs in both impact, measured by industry grants and case study production, and quality focusing on high ranking academic journals

Maintain our international accreditations and professional recognitions

The strategic plan is reviewed annually, and the recent updates is presented in 4 parts: •

• • •

Part 1 – Focus and priorities for the upcoming year – this section includes a review of progress against the strategic plan overall, and for the preceding year specifically, and presents the priorities for the year ahead based on changing annual circumstances. Part 2 – Detailed 5 year strategic plan – an extended set of strategies and actions based around 4 themes, along with Targets, KPIs and responsibilities. Part 3 – 5 year action plan with respect to research – drawing on the details in the strategic plan to set the research context more specifically. Part 4 – 5 year action plan with respect to internationalization – drawing on the details in the strategic plan but setting the internationalization context more specifically.

The strategy centers around four core themes with underlying strategies as indicated Figure 1.6. These themes are consistent with the University strategy. An annual update is required to recognize the changes in environment and circumstances. The past 18 months has proved to be a period where changes have been extreme on a global scale. The School has been required to respond to global forces well beyond its control, primarily relating to the global spread of COVID-19, and the deterioration in the Australian government’s relationships with China. While these represent significant challenges, the School’s assessment is that they have not required major changes to the 5 year strategic plan, with the current direction and focus remaining relevant. The main implications have included:

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Figure 1-6: BBS Strategic Plan Major Themes

Theme 1: Programs: Deliver innovative programs attuned to industry and market needs

Theme 3: Profile: Raise our reputation, brand, and the profile and impact of our research

Theme 2: Practice: Provide a service orientated culture focused on outcomes

Theme 4: People: Promote commitment, agility, and responsiveness within our workforce culture

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•

• • • • •

Impacts on timing of achieving some targets, in particular growth in student numbers, with the focus now on being maintaining as much as possible international student numbers, by delivering courses online, and then rebuilding. Impacts on resourcing capacity for strategic initiatives. Delays in the arrival of newly recruited faculty from overseas. Confirmation of the focus on ensuring that we have a diverse recruitment strategy. Limitations on international travel for academic staff limiting the extent of face-to-face international engagement. Putting a focus on delivering high quality flexible and online teaching for current students and in current programs has reinforced the long term need to target additional delivery options, and to look for opportunities arising from the investment made in managing the current circumstances.

Despite the challenges of 2020, the School did not make major changes to its strategic plan and indeed believes it has made significant progress against the plan, with the major achievements summarized in Figure 1-7.

Figure 1-7: Major Items of Progress and Achievements Against the Strategic Plan

Significant steps forward in embedding the research pillars into the life of the School (Strategic plan basis – 2.3.1 and 2.3.2)

Strengthening the use of technology in teaching (Strategic plan basis – 4.2.2, 4.3.1 and 4.3.2)

Significant growth in new programs (actuarial science and business data analytics)

Achievement of targets with regard to case study publication, and use of case studies in teaching (Strategic plan basis – 2.1.3 and 2.4.1).

Ongoing investment in the facilities of the School (Strategic plan basis – 1.1.2 and 2.3.1)

Developing new and innovative industry engagement opportunities (Strategic plan basis – 3.4.3 and 3.4.4), including Business Council of Australia video series

Effective initial steps into executive education and short courses (Strategic plan basis 1.3.1 and 1.3.3)

In 2020 we began including as part of our Strategic Plan annual updates, an emphasis on short term priorities. Table 1-4 summarizes those priorities for the year 2020/21, with an assessment of progress against those items. A more detailed review of outcomes, including a rating of outcomes against each priority item is included within the Strategic Plan update, and a traffic light evaluation of performance (Appendix 1.3) against the extended strategic

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plan, amendments discussed and agreed with the Advisory Board, informing the setting of the next year’s priorities.

Table 1-4: Strategic Priorities for 2020/21 BBS Strategic Priority 6 1. Transition all BBS subjects for more flexible delivery modes, including moving all subjects to the new Ultra version of Blackboard (2.4, 4.3). 2. Explore and develop new content - including opportunities for microcredentialing and flexible delivery (1.3, 2.4 and 4.3) 3. increased use of case method teaching in BBS curricula (1.1, 1.2, 2.1) 4. Write and publish case studies, primarily focusing on Australian and Japanese organizations and business contexts (2.3, 3.1). 5. Recruit post-doctoral researcher for the Big Data pillar to support research and grant proposal plans (2.3). 6. Update list of international educational partners using our criteria to identify and engage with new strategic partners in priority international markets (3.1). 7. Offer executive education programming aligned with the pillars in Japan in conjunction with BBT (1.2, 1.3, 2.1, 2.2, 3.1, 4.2, 4.4). 8. Further develop a vibrant collegiate culture in the School, aided by the appointment of Associate Dean, Faculty (4.1). 9. Provide staff training and support for case writing, case teaching, iLearn Ultra and other priority initiatives (4.2). 10. Leadership capacity development (4.2). 11. Review/create a 2020/21 action plan for each of the research pillars aligned with a clear articulation of the importance and relevance of the pillar to BBS, the University and its stakeholders. (RI) 12. Offer all subjects at high quality with online/flexible delivery options in response to COVID teaching constraints (RI)

Assessment of Progress Completed December 2020 2020 – 4 courses run as trails and development of those and further courses to be run in 2021/22, including signed agreements for partnership with Entrepreneur’s Organization and others. Achieved over 30% in 2020, on target for 50% -2021. Published 4 case studies in Ivey publishing in 2020, with 2 in early 2021. 3 of these 6 are Japanese related. Over 20 in development. Established co-branding agreement with Ivey Publishing. Put on hold due to financial constraints because of COVID. This list of current partners has been reviewed. Opportunities to finalize further agreements has been limited by COVID related travel restrictions. Major focus therefore has shifted to adapting relationships due to inability for student and faculty exchange current partners to academic interactions, especially Western University. This priority was included in the hope that international travel would resume in late 2020 to 2021. However, it did not happen and will become a core priority for 2021. Associate Dean (Faculty) appointed, and University level supports for Faculty well-being introduced. Regular learning and teaching sessions in these topics have been held. Selected individuals nominated for Leadership development program. Put on hold due to campus operating restrictions. Intent, roles and leadership of pillars defined, and included in marketing material. General expectations of outcomes have been discussed but are still being formalized as KPIs. Completed – student satisfaction generally high.

Priorities are linked to the relevant strategy, as noted in brackets – some priorities cross over more than one strategy. Items 11-13 represent remediation initiatives in existing activities.

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BBS Strategic Priority 6 13. Establish (a) the unique positioning and contribution of the Transformer, the Commercialisation Centre and the Entrepreneurship Pillar 7 and (b) the planned synergies amongst them. (RI)

Assessment of Progress Increased clarity attained as part of development of entrepreneurship pillar. General expectations of outcomes have been discussed but are still being formalized as KPIs

Based on the progress as outlined above, and further environmental shifts, the Table 1-5 outlines the School’s main strategic priorities for the forthcoming year. Item 1 is direct reaction to the challenges of 2020 and 2021. Items 2,3, 6, 7 and 8 are the next steps of priorities from 2020/21, in some cases because COVID response limited progress.

Table 1-5: Strategic Priorities for 2021/22 Measure of Success

BBS Strategic Priority 8

1. Develop COVID recovery plan (RI) in 2021/22

2. Further progress on developing new content - expanding opportunities for microcredentialing and flexible delivery (1.3, 2.4 and 4.3) 3. Continue to build our publishing and use of case studies in teaching (1.1, 1.2, 2.1, 2.3, 3.1) 4. Establish revised international education partner strategy by end of 2022 (3.1, 4.4). 5. Offer executive education programming aligned with the pillars in Japan in conjunction with BBT (1.2, 1.3, 2.1, 2.2, 3.1, 4.2, 4.4). 6. Establish goals, metrics and KPIs each of the three pillars (RI) (2.3, 3.1, 3.2, 4.4) 7. Offer all subjects at high quality with online/flexible delivery options in response to COVID teaching constraints (1.3, 1.1, 1.2)

1) rebuild enrolments numbers to meet or exceed 2019 levels for all programs by end of 2023; 2) re-establish study tours, study abroad and other international engagement activities to 2019 levels or greater by end of 2023; 3) implement staffing plan to return to pre-COVID workload models by end of 2023. New programs and content approved for delivery with targets of 4 short courses delivered in second half of 2021 and 10 to be delivered across 2022. 1) 50% of all BBS subjects to include case method teaching by June 2022. 2) 5 cases published by BBS academics through Ivey Publishing in 2021/22 (Ivey co-branding agreement). Establish mutual targets and specific initiatives with at least 2 institutional partners in each geographic territory by the end of 2022. 2 courses offered with average of 30 of attendees by end 2022. 1) Goals, metrics and KPIs for each of the 3 pillars by December 2021. 2) Performance against goals evaluated. Maintain average Tevals and positive student feedback in multimodal delivery.

The Entrepreneurship and Family Enterprise pillar is a chosen focus of the School in its teaching and research. The Commercialisation Centre was a focal point for teaching of entrepreneurship within the School but is now understood simply as a teaching and meeting space. The Transformer is a service provided by the Business School to all students from the University (and to some extent other stakeholders) to support the participants in developing entrepreneurial ideas and projects.

Priorities are linked to the relevant strategy, as noted in brackets – some priorities cross over more than one strategy. Items 11-13 represent remediation initiatives in existing activities.

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Measure of Success

BBS Strategic Priority 8 8. Establish goals, metrics and KPIs for operations of the Transformer (RI) (2.2, 2.4, 3.1, 3.2)

1) Goals, metrics and KPIs for operations established. 2) Performance against goals evaluated.

1.11 QUALITY ASSURANCE The School has several formal systems for quality assurance that are described in subsequent chapters, but in summary including: • • •

• •

The Bond Business School is subject to a full externally driven review every five years. The last review occurred in December 2019. Each program is reviewed on a five-year basis with each program benchmarked against peer aspirant universities and with a particular focus on program content and pedagogy. The School regularly reviews programs and offerings. Overseen by the Associate Dean (Learning and Teaching), reviews have been undertaken by a Learning and Teaching committee representing program directors, and student services staff. Senior Subject Coordinators have oversight of individual courses within their disciplines and monitor quality by approving syllabi and exams. The School asks students to complete electronic teacher evaluations for each course each semester. Student feedback is additionally sought through a class representative system and through the Student Liaison Committee. Faculty and administrative staff are required to participate in formal and comprehensive performance reviews, as outlined in Chapter 4. At executive level, the University has various control systems, described in this Chapter, to monitor the performance of the Executive Dean.

1.12 INTERNATIONALIZATION The University has a strong international focus at its central core, and the School Strategic Plan is supported by a specific Internationalization Plan that outlines more specifically the interlink between given strategies and internationalization. This includes the following priorities: •

• •

Focus on preparing our graduates for global careers through innovations in programs, through leveraging in the classroom from our diverse student body, our internationally experienced faculty, by curriculum design and focus, by expanding study tour opportunities and international internships. Elevating Bond University’s reputation through key international partnerships Develop and engage strong international alumni, including having alumni with international experience on our Advisory Boards.

These University priorities are also represented in the School, and indeed an internationalization focus has been incorporated into operations in a unique way. These are represented by: •

Recruiting faculty from broad ranging cultural experience and backgrounds and outcomes in internationally focused research, funding attendances at international conferences, which of course has been somewhat limited in the last 18 months due to COVID, and supporting them working on global

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•

• •

issues. 47% of the School’s faculty were born outside Australia and many have studied or worked outside Australia. Attracting students from diverse international markets, enhancing the global context of the on-campus experience. Forty-five percent of full degree on-campus students in 2020 are from overseas, and come from 50 countries broadly spread across the globe, and when study abroad and exchange students are added, international students make up 54% of the total on-campus student body. In addition, in normal years students in the Japanese partnership MBA visit the campus three times a year, and while this has been on hold for 2020-21, it will revert to normal as soon as possible. Preparing students for a global career by ensuring curriculum, and the classroom help emphasize and develop understanding of global issues, supplemented by experiences such as study tours and exchange opportunities. Facilitating the above through developing core partnerships with quality international institutions. Ensuring that Advisory Boards include members with substantial international backgrounds.

As discussed above, the global COVID pandemic, along with Australian Government responses has significantly curtailed development and plans around international engagement in 2020 and 2021. While we maintain many items of our international engagement and position, the plans for improving this going forward will be a major priority for late 2021 and 2022. This is further considered in Chapter 8.

1.13 ETHICS, RESPONSIBILITY AND SUSTAINABILITY A focus on ethics, responsibility, and sustainability is directly embodied in the School's vision statement. To ensure that this vision is achieved, the practices enacted within the School include: • • • •

•

Complying with the University rules on ethical practice, but also with individual faculty publishing in the area, and in governance of the University having a well framed policy environment. The context of ethical behavior, responsibility and sustainability is taught directly and indirectly in most subjects delivered in the School’s classrooms. Ethics are also covered in the classroom especially in relation to professional accreditations, framed around the requirements of the accounting bodies and the CFA. Undergraduates undertake a set of core subjects with students from other schools in the university ensuring breadth beyond business practice. Students also engage in socially ethical and responsible activities through the Beyond Bond program and on-campus associations like the Student Philanthropy Council. The School’s faculty are active in research into topics on ethics, responsibility, and sustainability and in the 2013-2017 core and non-core faculty published 31 peer review journals and conference proceedings into such topics (See Chapter 9).

The School’s activities with respect to ethical behavior, responsibility and sustainability is facilitated by active membership of Principles for Responsible Management Education (PRME). The School has an appointed PRME Director, and a range of actions and committees have resulted from this including faculty being offered financial support for undertaking research on issues consistent with PRME values. The PRME annual report for 2021 is provided in the Base Room(Chapter 9).

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1.14 CONNECTIONS WITH PRACTICE As a small private institution, Connections with Practice are a critical aspect of delivering on the School’s value proposition. To ensure that these connections are fostered, and benefits delivered, the School currently has two active Advisory Boards. The Advisory Boards meet regularly and provide significant support to the School in terms of guiding curriculum, of active engagement in events, and in providing advice on research directions. The School’s focus in terms of corporate engagement includes: •

• •

•

Formal linkages between disciplines and their industry and professional counterparts. The School’s accounting program is accredited by CPA Australia and Chartered Accountants ANZ. The Actuarial Science program is accredited by the Actuaries Institute and the School is a program partner of the CFA. The School hosts events in conjunction with the professional bodies and faculty are actively engaged in this. Activities of the Research Pillars/Centres, which provide opportunities for research funding, at which the Centre for Data Analytics has been particularly successful. Increasing our provision of learning opportunities to allow easier access of corporate stakeholders and alumni to access short courses and microcredentials, in our upcoming developments in executive education. Provision of networking and partnership opportunities with industry partners, alumni, key partner schools, faculty and Bond students. The School in normal years hosts regular networking events including Business Links, a regular forum in partnership with CPA Australia which attracts external attendances of 40-50, and Bond Business Leaders Forums. While somewhat constrained in 2020 and early 2021 they are now returning to a more pre-COVID normal. Academics are engaged in their professional bodies and are called upon for advice. The School also works closely with the Career Development Centre in developing and nurturing partnerships with industry, in providing degree related student placements and opportunities for students to engage with industry on campus. These initiatives also encourage corporate support for research projects. Development of existing and new partnership opportunities which align to the strengths of the School. The investment in the Macquarie Trading Room and its long-term continuation is an example of Connections with Practice directly benefiting students and graduates. Activities of the Entrepreneurship pillar in engaging with the local, national and international entrepreneur community. The major activities, such as Demo Day and Pitch at Palace, have been in partnership with groups including the Gold Coast City Council, and support individuals in turning ideas into start-ups. Participants are supported in their business plan development, pitch their ideas in competitions, and are supported by international networking. A high priority leveraging of the significant investment and opportunity offered by the operations of the Transformer by using industry experienced people as mentors, providing projects for students, identifying research projects and forming a base for the development of a stronger executive education presence. The Transformer is a service provided by the Business School to all students from across the whole University in non-credit bearing activities, and to some extent other stakeholders, to support the participants in developing entrepreneurial ideas and projects and has generated activity on 38 separate projects. The Transformer’s current strategic plan is provided in the Base Room (Chapter 1 folder), while Appendix 1.5 includes some examples of projects that have gained media attention and the Base Room includes more complete Transformer documentation for projects undertaken.

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Elevating donor and development activities into the core business of the School through working with the Alumni and Development Office, and with our Advisory Boards.

Bond’s alumni are also a core focus and strength in our Connections with Practice. The Bond Business School, together with the wider University is committed to developing a lifelong, mutually beneficial relationship with its alumni. BBS works closely with the central Office of Engagement to support their activities and involve alumni in the life, operations and strategic direction of the University: •

• •

•

The School is fortunate to also have strong representation from alumni on University Council (Mr David Baxby and Mrs. Lisa MacCallum) and the Alumni Advisory Board (Dr Jennifer Cronin – who is the Chair, MS Sanjana Bhatia, Mr Yasuhiro Kawane and Mr Damien Vanderwilt). BBS also boasts strong alumni representation on Bond University Limited with four of the twelve Alumni Members BBS graduates (Ms. Eleanor Donovan, Ms. Ashleigh Polsinelli, Mr Christopher Mulcahy, Ms. Annabelle Simon). Within the School, BBS is fortunate to have the insights from several alumni as part of the BBS Advisory Boards, including Dr Jennifer Cronin, Mr Jared Pohl and Mrs. Neeti Mehta Shukla. The University runs an extensive Alumni Committee network both within Australian and overseas. There are currently 30 Alumni Committees (7 Australian, 18 International, 4 discipline and one special interest committee). Two of the discipline committees are Business based: Hotel & Tourism Management and MBA. Business graduates currently hold 12 of the President positions for these committees, with a further 47 serving in Executive positions, for example Vice President, Secretary and Treasurer. In 2019 these committees hosted well over 60 events for 1,700 alumni and in 2020 over 50 (virtual) events for 800 alumni. We will support the active events of these networks to recommence as the world emerges from its pandemic environment. In May each year the campus is opened to invite alumni back for Homecoming with outcomes discussed in Chapter 3.9. We are fortunate to have alumni participate as guest speakers regularly at various forums such as Business Links events, semester Orientation events, and in-class sessions for current students. We were also pleased to have 35 Business graduates last year participate as mentors to current students for one full semester as part of the University’s Alumni Mentor Program. While the Alumni Centre is a centralized University service, the School and its faculty are involved with the Office of Engagement in developing alumni relations through: o Assisting and attending events for committees with a business focus, for example Japan. o Inviting business alumni to professional development events (e.g., Business Links) and to meet with current students, for example during BBT study tours. o Supporting the development of new alumni chapters. o Running professional development programs for alumni in their area of expertise. o Profiling the University’s business alumni. o Over 200 alumni are registered as volunteers to assist the School with marketing profiles, guest speaking, speaking with future students and assisting with future student recruitment. Post-graduation our alumni base themselves in countries all over the world. Common organizations our graduates work for include KPMG, PwC, EY, National Australia Bank, Deloitte and Accenture to name a few. The top five most common job titles for our alumni currently are Director, Managing Director, Manager, Owner and CEO.

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PROGRAMS

Bond Business School offers undergraduate, postgraduate and research programs that meet student demand by focusing on the needs of employment markets. Undergraduate programs command a premium price in the Australian market and include bachelor programs in Actuarial Science, Business, Commerce, Data Analytics, International Hotel and Tourism Management, and Sports Management. For postgraduate students, the School offers three generalist management programs, including two Master of Business Administration programs, a Master of Business, also branded as a Master of Management in some markets, and several specialist postgraduate programs including a Master of Accounting, Master of Actuarial Science, Master of Data Analytics, Master of Finance, Master of Financial Management, International Hotel and Tourism Management, and Sports Management. All programs deliver on the appropriate technical skills and are accredited by the relevant professional bodies. The School also offers numerous dual degree programs at both the undergraduate and postgraduate levels as well as several accelerated programs that offer specific combinations of undergraduate and postgraduate curricula. Diploma programs offered by Bond University College provide important pathways, especially for international students, into the School’s undergraduate programs. Similarly, graduate certificate and graduate diploma offerings provide similar opportunities for incoming postgraduate students.

2.1

PROGRAM PORTFOLIO

The School’s program offerings are based on the University’s Graduate Attributes, the School’s mission of ‘building tomorrow’s business leaders one by one’, the core competencies of the School and the needs of our targeted student markets. These elements are integrated and reinforced through our commitment to ensuring a premium student experience leading to superior graduate outcomes as evidenced by national and international student surveys. This is captured most specifically under Theme 1 in the strategic plan, as discussed in Chapter 1. The central approach of the School is delivering high quality and relevant programs meeting the needs of students and the market, which in turn will lead to enrolment growth based on program and process improvement. This personalized approach to enabling student learning and success is characterized by: •

•

• •

The University’s small class sizes is the foundation to a unique approach to student learning and success that is renowned for the individualized experience it provides to students, enabling and enhancing graduate outcomes. An academic calendar that is comprised of three full semesters 9 each year, rather than the standard two semesters, providing students the opportunity to graduate more quickly and begin their chosen career up to a year earlier. A student population that not only draws from all around Australia, but from over 50 countries worldwide that creates a level of student diversity in the classroom above that of other higher education institutions. A School-wide pedagogical emphasis on active learning and experiential approaches that are particularly wellsuited to the University’s small class sizes and diverse student body. Included in this is an emphasis on the case method of teaching to provide students extensive opportunities to develop critical thinking, decision making, communication and knowledge application competencies. A University-wide emphasis on increasing the use of authentic assessment to help prepare work-ready graduates and enhance transfer of learning from the classroom to the workplace. To the extent allowable by relevant constraints (e.g., professional accreditation requirements), all programs are designed to have a significant degree of flexibility and student choice. This allows undergraduates to choose from a range of possible majors, minors (i.e., accounting, actuarial science, economics,

The School and University has three 15 week normal teaching periods each year starting in January, May and September. This compares/differentiates from the public University sector which have two 15 weeks semesters (with long breaks in between semesters).

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entrepreneurship and innovation, management, marketing, international business, finance, international hotel and tourism management and data analytics) and electives offerings. Similar options are available to postgraduates through specialization options or a bespoke selection of business and general electives. A supportive, bespoke mentoring program within the School for all first-year students, provided by a combination of senior students and faculty, easing the transition to University and supporting sector-leading retention and satisfaction rates. Enhanced, and in cases innovative, and deliberate application of technology-enhanced learning (TEL) and related tools that take a “pedagogy before technology” approach. This emphasis has proven helpful, and indeed has been accelerated in response to the demands of the COVID-19 pandemic.

The core of the School’s enrolment base has historically been derived from general business undergraduate (Bachelor of Business, Bachelor of Commerce) and postgraduate programs (MBA and Master of Business). Over the past few years, the increasing demand for more specialized qualifications (e.g., actuarial science, data analytics) and global growth at the postgraduate level has resulted in greater enrolment distribution across the breadth of the School’s portfolio. This shift is reflected in the School’s strategic plan and related activities since 2018, including: • •

•

• • •

•

• •

•

Completion of a major curricula review undertaken in 2017/18 with every program reviewed to ensure relevance, currency and effectiveness (discussed further below). Transition of the undergraduate and postgraduate Sports Management programs from the Faculty of Health Science and Medicine in January 2018 to reinforce and strengthen the business and management emphasis in these curricula. Redesign and relaunch of the MBA program to better reflect the School’s strategy and core competencies. This includes a more flexible program for students that also emphasizes the School’s strengths in data analytics, innovation and strategic management the incorporates ethical and sustainable governance. Launch of the MBA (Heath) in 2019 and discontinuation in early 2021 due to lack of demand. Suspension of the EMBA program, pending further evaluation of the revised MBA program and the resumption of interstate travel. Introduction of a Master of Business Data Analytics and Graduate Certificate in Business Data Analytics (2019), Bachelor of Business Data Analytics (2020) and updated undergraduate major and minor and postgraduate specialization (2021). Targeted rebranding of the Master of Business as a Master of Management in select markets, especially Europe. In other words, the same program will be offered under one of two different names, depending on the target market. Additional minor adjustments were also made to the curriculum of this program. Update/revision of the Master of Sport Management and Bachelor of Sport Management (2020) to provide better alignment with the core business curriculum. Introduction of a Master of International Hotel and Tourism Management in 2020. In 2018, BBS introduced postgraduate versions of several IHTM undergraduate offerings. Although the enrolments in these new offerings have been low, they have helped to expand our overall postgraduate offerings. When timetabled in combination with the corresponding undergraduate subjects, they have also helped to improve the economic viability of the program overall. Creation of more flexible program entry (e.g., pathways program for undergraduate students), such as the Diploma of Creative Design to be launched in 2021.

A summary of the number of enrolments in current programs offered by the School is provided in Table 2-1. A more detailed overview of the structure program portfolio is provided in Table 4 of the Data Sheet, and in Chapter 3 of this report.

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Table 2-1: Bond Business School Program Portfolio – 2020 (as at September)

Enrolment

% Domestic

Prop % International

86%

14%

158

69%

31%

29%

71%

Bachelor of Commerce

138

78%

22%

Bachelor of International Hotel & Tourism Management

19%

81%

Bachelor of Sport Management

67%

33%

Postgraduate Programs Master of Business Administration

91%

Program Name Undergraduate Programs Bachelor of Actuarial Science Bachelor of Business Bachelor of Business Data Analytics

Executive Master of Business Administration

100%

BBT MBA in Global Business

155

100%

Master of Accounting

47%

53%

Master of Actuarial Science

71%

29%

Master of Business

11%

89%

Master of Business Data Analytics Master of Finance/Master of Financial Management Master of Sport Management

24 30 9

29% 57% 33%

71% 43% 67%

PhD Master of Philosophy

73%

27%

67%

33%

Total Full Degree Students

779

55%

45%

Higher degrees by Research

All programs are managed by the School’s Learning and Teaching Committee (LTC) which is chaired by the Associate Dean, Learning and Teaching (ADLT). Program Directors are assigned to each program offered by the School and report to the ADLT. Incumbents in this role are tasked with providing leadership with respect to the design, delivery, marketing and quality assurance of their assigned program(s). Key activities of this role include: • • • • • • •

Developing and maintaining plans to provide context and direction for program decisions. Monitoring program content and delivery to ensure consistency with the School’s mission, University/regulatory body policies and achievement of assurance of learning outcomes. Identifying and implementing initiatives in the program to enhance the quality of the student experience. Collaborating with academic colleagues in the development and updating of discipline-specific contributions to program improvement and review. Monitoring program admission and enrolment trends. Collaborating with Marketing regarding development and approval of program marketing objectives, strategy and collateral. Collaborating with Faculty Student services to address student program concerns.

Recommendations regarding new programs or major changes to the curriculum proposed within the LTC are submitted to the School Executive Committee (SEC) for ratification. Following approval at School level, changes are submitted to the University Program and Subject Review Committee (PSRC), a sub-committee of Academic Senate, for discussion and final approval. The University-level oversight ensures all programs comply with Australian Government regulations and re consistent with the University’s strategic plan.

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Compliance with Australian Qualifications Framework standards is ensured through a formal audit across the University. Actuarial, accounting, and finance programs are accredited through their respective professional bodies. All programs are subject to periodic scrutiny at the School and University level, as well as by a range of external organizations, including: • • • • •

2.2

An external review of the University is conducted by Australia's higher education regulator, TEQSA. The university’s last review was in 2017, successfully resulting in reaccreditation as a self-regulating University. Formal international accreditation obligations (EQUIS and AACSB) require the School to review its curricula on an ongoing basis (i.e., at least twice every five years). Accounting programs are reviewed for accreditation by the Institute of Chartered Accountants in Australia, CPA Australia and the Institute of Public Accountants. The actuarial programs have been reviewed and accredited by the Actuaries Institute. The CFA Institute gave ‘recognition’ to Bachelor of Commerce (Finance), Master of Finance and Master of Financial Management programs in 2014, renewed in 2017 and the Actuarial Science degree with a Finance major was also recognized in 2017.

PROGRAM DESIGN

The design of the School’s programs is based on constructive alignment. This approach requires alignment between three essential curricular elements: intended learning outcomes, assessment of learning and learning activities. It begins by defining each program’s learning outcomes. These outcomes are shaped by the missions and graduate attributes of the University and School, relevant accrediting bodies, industry advisors, alumni, government regulation and other sources. The School’s current graduate attributes which guide the development of all PLOs are summarized in Table 2-2.

Table 2-2: Bond Business School Graduate Attributes Knowledgeable (K) Graduates are able to apply comprehensive and integrated disciplinary knowledge with depth in one or more disciplines or practice areas. Critical Thinker (CT) Graduates demonstrate the ability to comprehensively analyze issues, ideas, artefacts and events before accepting or formulating an opinion, decision or conclusion. Innovative & Enterprising (I&E) Graduates will demonstrate initiative and creativity in addressing problems and opportunities. Learning & Growth Mindset (L&G) Graduates demonstrate the self-awareness of their learning and capacity to manage their ongoing learning and development. Globally Oriented, Ethical & Socially Responsible (GESR) Graduates will demonstrate a global, sustainable perspective towards their professional practice and the ability to respectfully engage in culturally diverse contexts. Effective Communicators (Comm) Graduates communicate verbally, in writing and graphically to diverse audiences using appropriate communication channels. Effective Collaborators (Team) Graduates will have the ability to effectively and professionally interact with others. Once PLOs have been determined, the next step is the development of assessment criteria. Within both the University and the School, there is an increasing focus on authentic assessment that requires application of what has been

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learned. This means an emphasis on applied projects and similar activities and less reliance on examination of rote learning. This approach helps to facilitate transfer of learning from the classroom to the workplace. Lastly, learning activities are designed to help students achieve the intended learning outcomes as measured by the assessment criteria. The selection and design of these activities are made with the recognition that learning is largely achieved by what students do. Hence the School’s emphasis on active learning methods, which deliberately leverages the University’s small class sizes to help achieve the School’s mission. Over the past three years, the School has made a more deliberate effort to embed and leverage its areas of core competency to further differentiate its program offerings in the market with respect to other business schools and competing programs. This includes greater emphasis on data analytics, innovation and governance, accountability and purpose. Examples of this approach include the new specialized data analytics programs and the recently revised MBA program (see more detail of this restructure below). Concurrently, the School has also had to rapidly adapt to the challenges of ensuring a high-quality learning experience throughout the onset of the COVID-19 pandemic. Although there have been many challenges, one of the positive outcomes from this crisis is that it forced the School to rapidly adopt new technology-enhanced learning approaches, new assessment methods and procedures, and new delivery modes. In the span of 2020 alone, the School shifted from almost exclusively face-to-face (January semester) to exclusively online (May semester) and most recently, to synchronous, multi-modal delivery (September semester onward). Both the increased focus on the School’s core competencies and the unanticipated lessons of the pandemic have helped to encourage improvements and adaption in program and subject design and delivery. The School is actively consolidating lessons learned over the past few years to continue to innovate and prepare for future challenges. Lastly, the design and continuous improvement of the School’s programs are further supported through: • • • • •

Membership of the Australian Business Deans’ Learning and Teaching Network. Professional development for staff provided both within the School and by the University’s Office of Learning and Teaching (OLT). Frequent faculty seminars on topics such as technology-enhanced learning, internationalization and work integrated learning programs. Use of visiting academics to provide input on current subjects and programs. Regular feedback from Advisory Boards, alumni, students, marketing staff and professional accreditation bodies.

Once designed, the School’s program management (see 2.1) and program evaluation processes (see 2.2) ensure that each program is regularly reviewed to ensure that all aspects of the curriculum (e.g., content, delivery, learning activities, assessments) are current and appropriate for the intended participants. Related to the topic of program design, the School successfully received support and funding from the University to lead a strategic project in 2021, the aim of which is to review and improve the University’s current process and policies regarding new program development. The project team consists of academic and professional staff and is led by the School’s Associate Dean, Learning and Teaching. The potential outcomes of this project include: • •

Improve the quality of (and expectations for) new product proposals presented to UMC, resulting in an increased success rate of new product offerings. Assess the potential and feasibility for a new Master of Marketing program to be offered by the Bond Business School.

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2.3

Provide a pilot project (i.e., Master of Marketing) demonstrating the benefits of expanding the University’s capacity to apply design thinking for the purposes of innovation and continuous improvement across the organization. Extend the application of design thinking beyond our current curriculum and co-curriculum (i.e., the Transformer) student offerings to a burgeoning capacity of the University’s academic and professional staff.

PROGRAM CONTENT

Detailed descriptions of the programs offered by the School (programs, learning outcomes, markets etc.) are contained in Appendix 2.1. The Bond Business School Brochure that is used to explain to promote our programs to potential students is provided in the Base Room (Chapter 2 folder). In summary the Business School offers a comprehensive suite of programs with numbers enrolled as outlined in Table 2-1. It offers: •

•

• •

Generalist degree programs – the School offers two undergraduate programs and a post graduate program that cater to general business careers: o The Bachelor of Commerce, with focus on Accounting and Finance majors, is accredited by the professional accounting bodies for the former, and is part of a program partnership with the Chartered Financial Analysts for the latter. o The Bachelor of Business which focusses on marketing, management and entrepreneurship majors. o A pre-experience Masters of Business, which is also offered as a Master of Management in selected international markets. Specialist degree programs – focusing on specific industries or professions. o At the undergraduate level this includes Bachelor of Hotel and Tourism Management, Bachelor of Actuarial Science (introduced 2016, also a professionally accredited program), Bachelor of Business Data Analytics (introduced 2020), Bachelor of Sport Management (transferred from Faculty of Health Science in 2019). o Professional/pre-experience postgraduate- including Master of Accounting, Master of Finance/Master of Financial Management, Master of Actuarial Science/ Master of Actuarial Practice (introduced in 2016). MBA programs (MBA and EMBA on campus, and Bond BBT MBA in Global Leadership – post experience programs in general management. Research Programs (Masters pf Philosophy and Doctor of Philosophy).

The School has had particular success in attracting students into the new programs introduced in actuarial science and business data analytics from 2016, but has challenges in terms of market attractiveness of some of it other degrees and has been active in adapting in terms of increasing that market appeal, for example re-branding of the Masters of Business as a Master of Management for international markets, restructuring the MBA, and trialing, in some cases without great success, other new programs. The Associate Dean (Learning and Teaching) has led a substantial effort in terms of program quality assurance focus that was commenced in 2017/18 (program review, assurance of learning, program management systems, investment in learning technology) that is not only core for the future, it has helped in successfully navigating the changes required in response to COVID. Program content is set at the appropriate level as determined by the Australian Quality Framework.

EXAMPLES OF PROGRAM ADAPTATION -MBA RESTRUCTURE The previous iteration of the MBA program had three interrelated problems: there was a lack of identity in the program, a lack of flexibility, and the cohort size was decreasing. The old MBA curriculum was a standard mix of generalist subjects with an over-emphasis on accounting, and it did not reflect the teaching nor research strengths of BBS. The problems of flexibility were found in both curriculum and delivery. Students had little choice, particularly EQUIS Reaccreditation Report – 2021

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following credit award for previous studies, to customize their degree to better prepare them for the career they aspired to. Subjects were also predominantly delivered in a standard, week-to-week format that appealed to international students while impeding our capacity to attract domestic, part-time students. The redesign of the MBA was intended to address all three areas of concern. The challenge was to design a new MBA program that was distinctive to Bond, flexible for students, and able to attract both international and domestic students. The redesign process was led by the MBA Director but included a wide range of academics from across the business school as well as marketing and recruitment input at the university-level. MBA was redesigned into three distinct parts (of equal credit-weighting); the bootcamps, which broadly encompasses the ‘standard’ MBA functional subjects; the core which is based on our research pillars; and the electives, to allow students to customize their MBA journey. The bootcamps are a series of eight, half unit subjects covering topics in economics, finance, accounting, marketing, management, etc. that are delivered in a weekend intensive mode to accommodate part-time students. They precede the four core subjects: Data Analytics for Decision-making, which is delivered online and reflects our data science research pillar; Project innovation and change, which is delivered in weekend intensive mode and reflects our Entrepreneurship research pillar; Strategic Insight, which is delivered in weekend intensive mode and reflects our Governance, Accountability and Purpose research pillar; and the MBA capstone, an integrative research project delivered on a one-to-one basis. All bootcamp and core subjects utilize case study teaching, authentic assessment, and/or the incorporation of real-time data via Bloomberg. The final third of the new MBA comprises a free choice of electives to help students focus on career preparation, with students often using the four electives to create a specialization or as part of a double degree. Thus far, student feedback has been extremely positive and student numbers have increased significantly. In 2019, we had only 16 domestic students (52% of the cohort) with an average age of thirty-two. In 2020, our domestic numbers doubled to 32 (78% of the cohort; note: there were extremely low number of international students in the latter part of 2020). Given the number of students in the first part of 2021, we are on track to surpass our 2020 figures, despite almost no international students. The average age of the MBA cohort has increased to over 37, as we have increased the number of domestic, part-time students. Our new MBA has a clear identity based on the strategic focus of BBS, it has flexibility in both design and delivery, and it has increased the number of students enrolled in the MBA program. The need to change the MBA was coupled with a decrease in quality and cohort size in our Executive MBA offering. Following market research, domestic students, who were working full-time, were found to be unable to attend weekly classes (found in the MBA), but were insufficiently qualified for the EMBA (most commonly, they did not have the requisite senior leadership experience (7+ years)).

2.4

SKILLS ACQUISITION

All the School’s PLOs are designed to emphasize student intellectual development and higher order learning (e.g., apply, evaluate, design, critique, demonstrate). As seen in Table 2.2., skill acquisition and development is an important and pervasive element of the School’s graduate attributes that help guide the development of all intended program learning outcomes (PLOs) for each of the School’s programs. These graduate attributes are aligned with the University’s graduate attributes which are designed to develop outstanding global leaders of the future (https://bond.edu.au/about-bond/academia/learning-teaching/graduate-attributes). They are organized at three different levels to reflect the nature of the attributes. At the center are the individual attributes such as lifelong learning, creativity, critical thinking, problem-solving and information literacy. These individual attributes underpin the development of the intermediate or interpersonal skills of effective collaboration such as communication, negotiation and teamwork. Together, these enable the highest level of attributes, such as responsibility, integrity, inclusiveness, and cultural adaptability that enable Bond graduates to successfully contribute to society as a global citizen.

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The University graduate attributes are reflected in the design of the three “CORE” subjects that are required elements of all undergraduate programs of the University. In concert with discipline-specific studies, the Core is designed to deliver: • • • • •

Logic and critical thinking. Effective oral and written communication. Global awareness and the ability to work with diverse others. Skills for managing oneself, contributing to teams, and providing leadership. Understanding of ethical frameworks and the personal capacity for ethical practice.

As noted in Sections 2.2 and 2.3, the School’s curricula include a diverse range of active, experiential learning approaches that capitalize on the University’s small class sizes and enable students to practice and develop these skills while receiving formative and summative feedback throughout their respective programs (the latest report of work integrated learning activities is included as Appendix 3.1). These activities include class discussions, group activities, exercises, lab and workshop activities, simulations, live case studies, guest speakers, and more. The School’s increasing use of authentic assessments such as industry-based projects, case analysis, consulting reports, and pitch presentations augments the diversity of the active learning approaches and provides learning tasks the allow for both formative and summative assessment that ultimately helps to prepare work-ready graduates. As noted elsewhere, increased use of case method teaching has been a strategic priority within the School since late 2019. The School views the case method as an invaluable pedagogical approach to help student to critically assess complex material, formulate and defend independent decisions, develop effective communication skills and apply concepts, models and theories across a variety of practical situations. As of 2020, over 30% of the School’s subjects use the case method as part of the overall approach to facilitating student learning. The School also offers a variety of professional development subjects, internships, international study tours that are specifically designed to provide unique, immersive opportunities designed to facilitate student learning and skill acquisition. The School also redesigned and reinvigorated its independent study offerings to create an opportunity to enable any student to work one-on-one with a specific academic to collaborate on a research project or case study. Additionally, the development of intellectual and managerial skills is also supported through several co-curricular offerings provided by the School and University. Most notably, these include: •

•

• •

Beyond Bond. Linked to the three required CORE subject is a mandatory co-curricular program that extends across the entirety of an undergraduate student’s academic program. It ensures that all Bond undergraduates engage in a wide range of practical, non-credit activities that complement their studies. These activities range from internships to service-learning to career development activities to community-based engagement. In all, the program ensures that undergraduates gain real-world, work-integrated learning experiences and are prepared for the transition to employment. Transformer. Launched in 2017 and housed in the Business School, this program is an Australian-first entrepreneurship program offered as a fee-free, extracurricular option available to all University undergraduate and postgraduate students. It provides a collaborative environment where students can work on a self-selected project, taking it from initial idea through to execution. Academic Skills Centre. Provides personalized help through one-on-one sessions, small group workshops, and online resources to improve student skills such as academic writing, time-management, study skills, presentation skills, referencing, English language skills and mathematics. Library. Provides a range of online, one-on-one and specialized support in the areas of information search and retrieval, citation management, and related offerings. Student Governance. One of the ways that the University embodies its respect for, and consideration of students is through the inclusion of student representation and nearly every major committee in the University. These students are typically elected to positions with the Bond University Student Association

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•

2.5

(BUSA) or one of the affiliate School or Faculty student associations such as the Business Student Association (BSA). These associations also help to manage the numerous student clubs, groups and societies in addition to organizing a variety of professional and social events held throughout the year. Events. Student participation in organizing and attendance at School and University events – students, especially hospitality students, take responsibility for organizing events for community clients. Access to the School’s Connections with Practice through Business Links events, Industry Insights events, Bond Business Leaders Forum, Master classes, and Business Incubator programs.

PROGRAM DELIVERY

The School’s most common mode of delivery is seminar mode, with two classes per week, typically with at least one day between classes, each of which are approximately two hours in duration. Depending on the nature of the subject, variations of this format include workshop or computer lab. The enrolments in these formats typically average approximately 18-24 students. Over the past several years, the University has made a deliberate effort to add more flexible, technology enhanced learning environments to support these types of teaching formats. In several cases, larger spaces that were once used for lecture formats have been rebuilt and repurposed to provide this more flexible space that better aligns with the overall strategy and reputation of the University. Lecture and tutorial formats are also used on occasion, usually for introductory subjects. Lectures average approximately 35 students with tutorials designed to be no more than 15 students, typically averaging approximately 8 students. Regardless of the format used, the focus is how best to foster student engagement. The University’s small class sizes and the significant class time each week provides students with spaced learning Small class sizes meaning that I can get opportunities to aid learning and retention. As previously help from the lecturers when I have mentioned, the emphasis is on an applied or practical questions. Also, the teaching style and approach to business education to ensure that what is learned course structure is very good and makes in the classroom is relevant and can be readily transferred to the workplace. This context provides a rich opportunity to learning the concepts manageable. develop innovative learning and assessment methods that Student Experience Survey 2020 align with the School’s mission and strategy and the intended learning outcomes of the curricula. The School, like the University, primarily focuses on offering students a face-to-face learning experience. This allows the organization to maximize the advantages and opportunities afforded by its small class sizes and the University’s idyllic geographic location and campus environment. The Bond-BBT Global MBA program is the notable exception to this overall approach. This unique program is delivered in partnership with Business Breakthrough (BBT), a Japanese pioneer in multimedia executive training programs. The primary market for this program has been working adults in Japan, although Japanese-speaking participants from other parts of the world have joined the program. Students synchronously participate in online lectures and discussions as well as engage in asynchronous discussions and other materials. Critically, students attend a minimum of two intensive learning sessions at Bond’s Gold Coast campus addressing content best delivered in a face-to-face context such as negotiation, business planning, and leadership. Although the University and the School primarily emphasize a face-to-face experience with respect to program delivery, the use of technology-enhanced learning (TEL) methods has been integral to program delivery from the beginning. In addition to the University’s learning management system (LMS), examples of the School’s use of TEL includes student learning activities (e.g., marketing, strategy, HRTM, and management simulations), financial, industry and company data (e.g., Bloomberg Terminals), industry-derived datasets, and online assessment tools. The School also routinely leverages the use of industry standard software tools such as Microsoft Office, SAS, R, Python, and Adobe Creative Cloud. EQUIS Reaccreditation Report – 2021

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With the onset of the COVID-19 pandemic in early 2020, the University’s decision to upgrade its LMS platform (referred to as Theoretical knowledge is combined iLearn) was particularly timely and beneficial. In late 2019, the with practice. I can cultivate the University announced plans to upgrade its Blackboard-based LMS to problem-solving skill in daily learning. the new Ultra, cloud-based version. This replaced the previous LMS I can construct the relevant models to known with a more user-centered design, making it easy and efficient to access student contributions, track and manage subject analyse and address problems. dates and provide improved subject management tools. It also Student Experience Survey 2020 provided a more consistent student experience for students across Faculties and subjects. As part of this migration, the University also adopted Blackboard’s Collaborate software as its preferred online collaboration tool. This and related tools (e.g., Zoom and Microsoft Teams) were particularly helpful to maintaining an engaging, synchronous students experience during the pandemic. The School’s active, experiential learning approach, coupled with its long-standing use of TEL has led to several pedagogical innovations is aimed at broadening students’ understanding, enhancing application and/or expanding student I’ve enjoyed seeing how the learning access. Examples of these include: •

•

objectives are actually applicable in the work in environment because we have a lot of contact with the industry we are studying.

In 2019, Dr. Kim Kercher introduced an international collaboration project with Qatar university in the School’s accounting curriculum. This approach proved very effective for both the Bond and Qatari students as an authentic form Student Experience Survey 2020 of assessment in the subject and presented an extensive, applied opportunity for students to develop teamwork and cross-cultural awareness competencies. The simulation-based learning approach also resulted in Kim and her colleagues from both universities publishing a high quality journal article on accounting teaching pedagogy. Ben Hayden-Smith continuously innovates his facilitation of a highly experiential two-subject sequence for the School’s Bachelor of Business program – BUSN13-331 Business Model Generation and BUSN13-332 Business Model Execution. The aim of this sequence is to provide an interdisciplinary business capstone experience for students to develop their innovation, collaboration and management skills, while integrating and applying what they have learned throughout their program. Dr Adrian Gepp has significantly enhanced both his own and his colleagues teaching in the Bond-BBT Global MBA program through the innovative use of technology. His online Data Analytics subject utilizes a combination of recorded lectures, Lightboard videos, dynamic Excel demonstrations, animated PowerPoint presentations, Aplia quizzes and interviews with experts to foster and promote student engagement in an online learning context. Marketing educator Vishal Mehrotra uses live industry projects as the centerpiece across multiple marketing subjects. His strong work-integrated learning focus includes the use of student marketing projects for leading brands including YourTown, Toyota, Microsoft, and the Australian Red Cross. He also uses various technologies such as advanced Mimic Pro Internet Marketing Simulation and Hootsuite omnichannel social media management platform to provide undergraduate and postgraduate marketing students with real-world experience with internet marketing and strategy execution. Students can also gain certification in the use of some of these industry-leading marketing tools. Mark Brosnan introduced Padmore City into his Taxation Practice for Accountants class in 2020. This tax gamification module managed by a technology provider to CPA Australia and the ATO helps engage students in the complexities of applying and interpreting the Australian tax code. Dr Simone Kelly teaches Corporate Finance, which is delivered in both undergraduate and post graduate programs using real world case presentations in a boardroom setting with external senior industry

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•

professionals invited to participate as Chairperson of the Board. This context raises expectations for the quality of the students’ work, provides an authentic context to practice oral and written communication skills, and provides external engagement and performance feedback. Dr Gulasekaran Rajaguru developed an innovative blended learning solution to the challenge of teaching quantitative subjects (e.g., Statistics, Economics, Finance, Actuarial Science). His approach, developed and refined over several years, uses a Windows-based tablet which leverages both tablet functionality and statistical software to support the teaching of quantitative material. These technologies allow his class sessions to be recorded and students can review the dynamic development of difficult concepts, rather than rely on a ‘snap shot’ this is typically provided in a single PowerPoint slide. This approach has been so successful that the promotion of this approach to other School subjects has been identified as a strategic Learning and Teaching project for 2018. Dr Colette Southam and Dr George Hrivnak designed and team-taught a new experimental subject, FINC71614 Mergers & Acquisitions, designed to provide postgraduate students a subject that uniquely blends the knowledge and skills of financial valuation, negotiation and change management within a merger and acquisition context. This required a significant effort to identify, review and prepare a new portfolio of teaching cases and simulations that would support student learning through the planning and execution of complex business negotiations as well as enough financial detail to enable the application of financial valuation methods and decision-making. Responding to student demand for more flexible delivery options, the School has developed or redesigned several subjects for online delivery. For example, Dr. Adrian Gepp and Mark Johnman designed and delivered a new Business Analytics Coding subject from 2019 specifically designed for online delivery. In the same year, Assistant Professor Elizabeth Sander completely updated an existing international human resource management subject and redesigned it for online delivery.

A final aspect of program delivery is the allocation of teaching staff. The assignment of individual academics to teach specific subjects each semester is an ongoing allocation process led by the Associate Dean, Learning and Teaching (ADLT) who is supported by a Timetabling Officer. As needed, the ADLT consults with the Associate Dean, Faculty, Business Director and Executive Dean during the allocation process. Key factors considered in making these teaching assignments include disciplinary expertise, experience and success with a particular subject, and staff availability (e.g., staff are not expected to teach during their annual non-teaching semester). Academic staff are typically expected (i.e., those on the traditional 40-40-20 load of research-teaching- service) to teach two semesters of three each year, teaching two subjects per semester, while teaching oriented faculty will teach 6-7 subjects per year across three semesters.

2.6

STUDENT ASSESSMENT

As noted in the discussion of program design, the University’s approach based on constructive alignment guides the design of all subject assessments, which are aligned with specific subject learning outcomes. Assessments for each subject are specified in the subject outline and include important information such as associated learning outcome(s), assessment weight, due date, and other instructions. Unless otherwise mandated by professional accreditation requirements (e.g., requiring an invigilated formal examination), assessments are designed to reflect authentic tasks reflective of the domain or discipline (i.e., authentic assessment). This emphasis on authentic assessment is also encouraged to provide opportunities for both formative and summative feedback. Assessment methods include case analyses, professional reports, presentations, participation, examinations, simulations and other assignments, that vary based on the nature of the learning outcome(s) being assessed. All assessments require a marking rubric that is available to students on each subject iLearn site or an examination marking guide. As per University policy, assessment feedback is provided to students within two weeks, if not before. Students are encouraged to contact the educator with any questions regarding marking or the assessment itself. If consultation with the educator does not satisfactorily address the student’s concern(s), a formal University process and EQUIS Reaccreditation Report – 2021

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policy for escalation of the concern, including a formal review of grade, is available to all students. University procedures for requesting a deferred examination or an assigned extension are also available to all students based on valid medical documentation and/or compassionate reasons. Written assignments, reports and similar assessments are submitted to via the LMS using academic integrity software such as Safe Assign and Turnitin. Cases of cheating and plagiarism are generally dealt with by the School’s Disciplinary Committee, with exceptionally serious cases of student misconduct referred to the University Disciplinary Committee. For group assessments, the School has implemented a self and peer evaluation system (CATME) to help student groups ensure group member accountability and to provide assessments of teamwork and leadership behaviors. These data also support assurance of learning regarding program learning outcomes related to collaboration and leadership. The assessment schemes of each subject are intended to provide students with an opportunity to demonstrate their learning through a variety of appropriate means. Students whose performance is of concern are counselled by educators and as needed, placed on the “At Risk” register for monitoring by the School’s Student Affairs and Service Quality staff and their performance is monitored by faculty. Students requiring more intensive support may be offered mentoring, tutoring, academic skills, language skills, or other supports as needed. At the end of each semester, educators compile each student’s results and provide them to the subject coordinator for review and approval. These proposed final grades are reviewed by the Associate Dean, Learning and Teaching prior to a formal review by the School’s Board of Examiners. The role of the Board of Examiners is to provide yet another quality control step in the University’s systems of grade moderation. Once all grades are approved by the School’s Board of Examiners, they are submitted to the University Registrar for ratification and distribution to students. The Registrar manages this phase of the grade process as well as the process for ultimately granting formal degrees and other awards once students have met all the relevant requirements. In 2019, the University adopted a Grade Review System that integrates with its LMS and student records systems to make this process more efficient. The categories of grades awarded within the University are assigned as follows: Outstanding or exemplary performance in the following areas: interpretative ability, intellectual High 85-100 initiative in response to questions, mastery of the skills required by the subject, general levels of Distinction knowledge and analytic ability or clear thinking. Usually awarded to students whose performance goes well beyond the minimum requirements Distinction 75-84 set for tasks required in assessment and who perform well in most of the above areas. Performance is considered to go beyond the minimum requirements for work set for Credit 65-74 assessment. Assessable work is typically characterized by a strong performance in some of the capacities listed above. Pass 50-64 Performance meets the requirements set for work provided for assessment. Fail 0-49 Performance is not considered to meet the minimum requirements set for particular tasks.

2.7

PROGRAM EVALUATION

The review and evaluation of the School’s curricula is comprehensive and considers the requirements and interests of a range of stakeholders. Each semester, all students are asked to submit evaluations of all educations and all subjects. Both quantitative (i.e., 5-point Likert scale) and qualitative feedback is requested and encouraged between week 10 through week 15 of the semester. This system is digital and communication to student is distributed through University systems. Students are assured of the anonymity and confidentiality of all feedback. Overall student satisfaction with

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both educators and subjects is high, and increasing as evident in Figure 2-1 10. This is a testament to the effort of instructors and the supports they are given.

Figure 2-1: Student Evaluations of Subjects and Educators in Bond Business School.

In addition, as noted above the University and the School participate in several externally managed surveys of program quality, student experience, and student outcomes and rank consistently as the best business and management program in these surveys (refer back to Table 1-2). Although self-perceptions of student learning experience are an important source of program feedback, the School also considers more objective outcomes such as student learning. This is largely achieved through the School’s assurance of learning process which is now managed by the Curriculum Review Committee (CRC). The CRC is a sub-committee of the School’s Learning and Teaching Committee and is chaired by the Associate Dean, Student Affairs and Service Quality. In addition to the Chair, it is comprised of five additional academic staff members appointed by the Executive Dean, the Accreditation Manager and the Learning & Teaching Manager. The key activities of the CRC are: • • •

• • •

Monitor the performance of each BBS program against qualitative and quantitative indicators. Advise the School’s Learning and Teaching Committee with respect to recommendations for quality enhancement of the curricula. Provide a formal review of each program to the School’s Learning and Teaching Committee on a regular schedule. This schedule will be reviewed and approved annually by the School’s Learning and Teaching Committee to ensure that each program is formally reviewed at least twice in a five-year period. Ensure that all program reviews comply with relevant policies, protocols and conditions as specified by the University as well as external accrediting bodies. Collaboratively engage relevant staff and stakeholders in the review of all programs. Promote, discuss and disseminate understanding of all programs as appropriate within the School and University.

Feedback from these and other mechanisms are used for continuous improvement of both curricula and educators. In some cases, substantive changes to subjects are reported to students through the University’s learning management system (LMS), also known as iLearn. Going forward, the University plans to make this continuous improvement reporting standard practice across all subjects and programs. A pilot project for this initiative will be launched in 2021.

The evaluations indicate as significant and consistent improvement in student satisfaction in the Business School over the last four years and now match University averages).

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In summary, programs are subject to three levels (i.e., School, University, and external) of approval, evaluation, review and quality assurance based on the University’s program and subject management policies and procedures. As noted in section 2.1, compliance with Australian Qualifications Framework standards is ensured through a formal audit across the University. Actuarial, accounting, and finance programs are accredited through their respective professional bodies.

2.8 •

•

INTERNATIONALIZATION Bond Business School is a very attractive study destination for international students, in part because of its brand and quality and in part because of the popular location on the Gold Coast, Australia. There are over 50 countries represented in the School’s student cohort. Perhaps even more important—and relatively uniquely in an Australian university context—is the fact that there is a highly diverse international context on campus with country representation highly spread and the maximum from any country of the order of 28% (see Chapter 3 - Students and Chapter 8 - Internationalization for details). With respect to its programs, the School specifically targets international students in several important ways. As mentioned in 2.1, the School works closely with Bond University College to design and deliver important diploma programs that are popular with many international students as pathways into the School’s undergraduate programs. For example, the Diploma of Business is a two-semester program that enables students to complete their diploma in only eight months. Upon successful completion of the diploma, students can pathway into the third semester of one of the School’s undergraduate programs with a possible 80 credit points. Bond University College also offers a Foundation Program which provides preparatory learning for international students (e.g., study skills and language skills) to pursue undergraduate studies. The program meets the requirements for Foundation Programs, which are registered on CRICOS for delivery in Australia to international students who are seeking entry to university undergraduate programs. For postgraduate students, the School offers special versions of all its postgraduate programs specifically tailored to the unique visa requirements of international students. These “professional” programs have an additional coursework requirement that results in a 92-week version of the standard programs, which are typically 12 to 16 months. Additionally, the School also delivers a unique offshore program, the BBT MBA, in partnership with Business Breakthrough (BBT), a Japanese pioneer in multimedia executive training programs. The primary market for this program has been Japan although Japanese-speaking students from other parts of the world have joined the program. Students view online lectures and participate in online virtual classroom, as well as discussion forums in online subject. However, and critically, students attend a minimum of two intensive learning sessions at Bond’s Gold Coast campus addressing areas best delivered in face-to-face context such as negotiation, business planning, and leadership. BBT MBA have in the past taken a mix of up to 20-40% Japanese and 60-80% English language lectures and assessment. A core decision implemented in 2018 has been to introduce an all-English pathway which will open the market both, from Japanese speakers to those with an interest in the economies of Japan and Asia in a global context. All other programs delivered on campus are targeted at both domestic and international students.

INTERNATIONAL CONTENT OF THE SCHOOL’S PROGRAMS The School recognizes the value of a global perspective to enhance the student experience and is committed to providing an international educational environment. To achieve this objective, the School: • • • • • •

Actively recruits faculty with broad ranging cultural experiences and backgrounds. Actively recruits students from a diverse range of countries. Embeds global themes throughout programs. Emphasizes in-class activities related to internationalization. Provides International immersion experiences such as study tours and international competitions. Provides student exchange opportunities.

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The details regarding these and related elements are discussion in detail in Chapter 8 – Internationalization.

2.9

ETHICS, RESPONSIBILITY AND SUSTAINABILITY

The School expressly states its desire to produce graduates who have a responsible and ethical approach to business. Specific details as to how ethics, responsibility and sustainability are integrated into the design, delivery and assessment of the School’s programs are provided in Chapter 9 – Ethics, Responsibility and Sustainability.

2.10 RELEVANCE OF CONNECTIONS WITH PRACTICE In seeking to develop the business leaders of tomorrow, the School recognizes the importance of providing programs that are not just theoretical in nature but are grounded in practical relevance and provide opportunities for students to apply knowledge and skills. This requires a practical, applied perspective to be incorporate into all programs. As noted previously, the intended learning outcomes for each program are developed with feedback from industry to help achieve this aim. In addition to the discipline knowledge and skill, graduates develop skills in the areas of teamwork and leadership, oral and written communication, ethical decision making, entrepreneurship and innovation, and crosscultural management skills. The pedagogical approaches used to foster the development of these competencies emphasizes work integrated learning and practical application via internships, industry guest speakers, case studies, consulting in groups for businesses, service-learning projects and using permanent staff and adjuncts with professional experience. In addition, employers and other external stakeholders are formally involved in program design and monitoring through: • • • •

Discipline Learning Standards developed by the Australian Business Deans Council collaborating with professional bodies and industry stakeholders. Input from the School’s Advisory Board. Membership of School-based Review Panels. Review of accredited programs by professional accreditation bodies (Accounting/Finance/Actuarial Studies).

Other avenues for corporate input into the delivery of the School’s programs are discussed in more detail in Chapter 10 and include participation in learning and teaching processes (e.g., attendance as guest lecturers, provision of internships, involvement with case study production).

2.11 PROGRAM OF REVIEW – BACHELOR OF ACTUARIAL SCIENCE The selected program for review is the Bachelor of Actuarial Science. The Bachelor of Actuarial Science prepares students for a career as an actuary, or for a career in other areas (e.g., finance) with a focus on quantitative skills. It develops students’ skills in all aspects of the quantitative assessment of business including financial risk evaluation and statistical analysis as well as economic modelling and prediction. In addition, it includes opportunities to learn techniques in the important and growing field of data analytics to help create practical solutions for real-world problems. The Bachelor of Actuarial Science is accredited by the Institute of Actuaries of Australia (Actuaries Institute). The Actuaries Institute has a Mutual Recognition Agreement with multiple international institutes that manage the actuarial profession in their own countries, including the UK, Japan, USA, Ireland, New Zealand, Canada, South Africa and India, and as such lend themselves to international degrees. Commencing this program and gaining accreditation, Bond is one of only seven universities in Australia accredited by the Actuaries Institute, and the only one in Queensland, providing BBS with a solid base from which to develop and launch other data analytics initiatives, including the recently introduced Bachelor and Master programs in Business Data Analytics. In addition, faculty recruitment for teaching in this area is a very significant factor in the development of our data analytics research pillar, and the research and engagement outcomes being achieved in that pillar (see Chapter 5). As noted earlier, this is a program which is core in our strategic directions, and we have expectations or EQUIS Reaccreditation Report – 2021

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targets of achieving annual growth of between 5 and 10% in the program for the next 5 years (noting however, that attracting international students will be critical to maintain this going forward in a post pandemic world). For accreditation purposes the program is subject to stringent oversight and requirements from the Actuaries Institute. This includes recruiting qualified Actuaries in the teaching faculty, approval of curriculum relative to standards, and reviews of assessment and assessment results. The degree consists of 240 credit points, which normally takes six semesters (108 Weeks) of full-time study. The Bachelor of Actuarial Science is designed to prepare graduates for professional careers in actuarial industries, as well as finance and business. Admission to this program is based on successful completion of Year 12 or equivalent. Applicants are assumed to have the knowledge to the level of Mathematical Methods (formerly Mathematics B) or equivalent and desirably Specialist Mathematics (formerly level C) as well. The degree combines advanced mathematics, statistics, data analytics, actuarial risk and theory, finance, economics and accounting subjects with large-scale, real-life commercial data analysis. Students without practical workplace experience, or with experience in a field different from their studies, may choose to undertake work experience or an internship as part of their degree. The program attracts high achieving students, with the following evidence of this: • •

The entry standards (minimum ATAR of 90) are the highest of any undergraduate program except medicine in the University and are in line with the requirements of the accrediting body. Actuarial students generally achieve significantly higher grades in the core finance, economics and accounting subjects undertaken as part of the required subjects – in 2020 Actuarial students represented 33% of high distinctions, and 32% of distinctions in these subjects (relative to 20% of the student load). A significant proportion of Actuarial Science students take out a finance major with their degree.

The enrolment in September 2020 was 78 students. Figure 2-2 further shows enrolments from the inception of the program in 2015, and depicts the early growth followed by consistent growth over the last three years averaging 6% per year (with enrolment growth from international students somewhat curtailed from the May 2020 due to pandemic related recruitment restrictions).

Figure 2-2: Recent Enrolment Trends – Bachelor of Actuarial Science

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The intended learning outcomes of the program are to: 1. 2. 3. 4. 5. 6. 7. 8. 9.

Demonstrate integrated theoretical and technical disciplinary knowledge and skills in a given business context. Critically apply theoretical and technical disciplinary knowledge and skills to analyse a given business issue or problem. Demonstrate the knowledge and skills needed to generate creative solutions that address an identified need, opportunity or problem. Demonstrate the ability to reflect on an experience, critically assess one's thoughts and actions and develop insights to positively affect one's knowledge, skills and/or attitudes. Recognise the ethical, cultural, environmental and social considerations of individual behaviour and organisational operations. Apply ethical decision-making models that reflect the principles and values expected of professional practitioners in the discipline. Deliver a clear, concise well-organised presentation appropriate for the intended purpose and audience using suitable visual aids. Articulate ideas, decisions, recommendations and other information in a clear, concise writing style tailored to a given audience. Demonstrate the ability to work effectively with others to complete a project or group task.

The structure of the program is as follows: •

•

University core subjects (3) o CORE11-001 Critical Thinking and Communication o CORE11-002 Collaboration, Teams and Leadership o CORE11-003 Responsibility, Integrity and Civic Discourse o Plus: CORE11-004 Beyond Bond: Professional Development and Community Engagement (not credit bearing requirement of all Bond University undergraduate degrees) Required subjects (14) o ACCT11-100 Accounting for Decision Making o ECON11-100 Principles of Economics o ACSC12-200 Mathematical Statistics o ECON12-200 Linear Models and Applied Econometrics o ACSC12-201 Financial Mathematics o ECON12-202 Contemporary Macroeconomics Issues o ACSC13-301 Contingencies o FINC12-200 Fundamentals of Finance o ACSC13-305 Actuarial and Financial Models o FINC13-301 Corporate Finance o ACSC13-306 Stochastic Processes o FINC13-303 Portfolio Analysis and Investment Management o ACSC13-307 Survival Analysis o STAT11-112 Quantitative Methods Elective subjects (7) o May be used to form a major or minor. This includes all the majors and minors offered with the School including Accounting, Data Analytics, Economics, Finance, Entrepreneurship and Innovation, International Business, Marketing and so on. It is also possible to gain a double major in Data Analytics & Finance or Economics & Finance, with the former being very popular with students. o May be used as general electives and be selected from any Faculty in the University, including Study Tour and Business Internship subjects.

The characteristics of the students enrolled in this program in 2020 are illustrated in Figure 2-3. While largely domestic, the first international students entered the program in September 2018, making up around 10% of the enrolments in the first few Semesters. This grew steadily until January semester 2020, when it reached 18%, and even under COVID restrictions has managed to retain 15% of the student load as international for the rest of 2020.

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Figure 2-3: Characteristics of Bachelor of Actuarial Science Students (2020)

Despite the Bachelor of Actuarial Science only being a relatively new program, graduates have had impressive outcomes. Consistent with the aims to prepare students for professional careers in actuarial and other industries, our graduates work in insurance (e.g. Allianz Partners, RACQ), data analytics (e.g. Quantium, Cubiko), government (Health, Treasury), accounting / professional services (e.g. PwC, KPMG), finance (e.g. Westpac, Commonwealth Bank), retail (e.g. Woolworths), travel (Virgin Australia), telecommunications (e.g. Telstra), mining (e.g. Rio Tinto) and in other diverse roles such as analyst in an advertising agency. Common job titles include actuarial analyst, data analyst and other similar variants. Further, some of our graduates have made a fast rise and include Manager Analytics at a large general insurer (Auto & General), Senior Associate at PwC, Information Security Consultant at Westpac and Head Analyst at an innovative health analytics company (Cubiko). One graduate also works for Quantium in the US on the huge Walmart account. Two of our top graduates have also embraced an entrepreneurial spirit and launched their own consulting company. Upon completion of the Bachelor of Actuarial Science, graduates have the opportunity to complete a research-based Honours qualification or a Master of Research qualification leading to a PhD, or they may continue study in graduate coursework programs. In fact, top graduates from this degree program have been an important source of quality for the BBS PhD program, as evidenced by competitive scholarships, Research students that have worked on projects associated with research funding. B.Act.Sci Graduate Mark Johnman

Isaac Tonkin

Status Graduated PhD 2021 PhD Under examination Passed PhD Confirmation Passed PhD confirmation Passed PhD confirmation PhD student

Braedan van der vegt

MPhil student

James Todd Nikki Cornwell Tom Aspinall Mitchell Horrocks

Topic Marketing analytics Health analytics Risk analytics Finance Smart Cities analytics Computational finance Sport analytics

Note Industry and government funding; Competitive university scholarship Industry funding; Competitive university scholarship Industry funding; Competitive university scholarship Industry funding Competitive university scholarship Government funding; Competitive university scholarship Competitive University scholarship Industry linked

Honours has also been a pathway for many of the top graduates of this degree. The first six HDR students listed above first completed Honours; all of them with First Class. Topics included finance and financial trading, evaluating algorithm

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optimisation, sporting performance ranking and an industry-linked project on improving ICU patient severity modelling. Recent Honours examples in addition to the 6 already mentioned include: B.Act.Sci Graduate Veronica McNevin Christopher Carney Callum Roberts Lucy Ward

Status current current First Class First Class

Samantha McDougall Amanda Yee Luke Strickland Mark Wallis

First Class Second Class Second Class Second Class

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Topic Insurance customer analytics Insurance pricing analytics Insurance policy analytics Auto Insurance Fraud analytics Travel demand prediction Fraud analytics Superannuation Policy Financial trading

Chapter 2: Programs

Note Industry linked with funding Industry linked Industry linked Industry linked Industry linked with funding

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STUDENTS

3.1

TARGET PROFILES, AND CRITERIA FOR SELECTION

The School targets both domestic and international markets at the undergraduate and postgraduate levels. Potential students may have just graduated from high school or be mature age with work experience. In summary, the School has six major undergraduate programs, ranging from business, sports management to actuarial science. These are generally targeted to high school graduates. For postgraduate studies, the School has ten master’s degrees (6 specialist degrees, 3 MBAs and a research masters (Masters of Philosophy)) and a Doctor of Philosophy. The EMBA is being withdrawn and being taught out. The candidates for entrance into these degrees must have completed undergraduate studies while the doctorate requires that a master’s degree (or equivalent) be completed beforehand. The doctorate is designed to develop a student’s abilities so that they become independent researchers. At an undergraduate level, all qualifications from across the world are translated into a common tertiary entrance rank (TER), TER is used to select students' academic eligibility. There are English language requirements and standardized language tests are used. These tests contribute to ensure the students who are not educated in a traditional English background are proficient in academic English. More importantly, it assures the students who are educated in a traditional English background that their fellow students are proficient in academic English and will be able to contribute to groups, classes and programs. At a graduate level, applicants are selected based on their grade point average and where appropriate other factors such as work experience. The selection data are provided to the Academic Senate via the Admissions Standards Committee on a semester-by-semester basis. For the MBA, potential students require three years’ worth of relevant work experience. Potential PhD students are required to work with a member of staff to develop a research proposal that is acceptable to the Business School research standards. A large proportion of applicants (approximately 60% for undergraduate and 40%-50% for postgraduate) will receive an offer in a program. Applications are pre-screened (either through an agent for international students, or through the Bond Admissions Office). Also, we do not alter the entrance criteria based on supply and demand. The program that a potential student is offered may not always be their first choice. Additionally, students who are not qualified for entrance into a degree will receive a pathway offer. The pathway program allows students, who do not initially meet undergraduate or postgraduate requirements to complete a Diploma or Graduate Certificate program. Successful completion of this will allow the student direct entry into a Business program, though they are not guaranteed that this will be the program of their choice. Table 3-1 gives the number of applications, the number of students where a place was offered and the number of enrolled students over the past three years. On average conversion rates have been between 30% to 35%.

Table 3-1: Application to Enrolment Outcomes Undergraduate

Year

Postgraduate

Offer

Admit

Enroll

2018

Applications 1,079

672

230

2019

1,239

694

2020

1,131

718

Total

Offer

Admit

Enroll

222

Applications 959

Offer

Admit

Enroll

139

Applications 2,038

455

151

1127

381

361

213

201

1,885

733

229

196

3,124

1427

442

397

182

172

1,366

577

172

136

2,497

1295

354

308

2019 was an anomaly – the large applications/ offers were as a result of 2 agents (from India), who we later detected were non-genuine, so these applications/ offers were withdrawn but are still reflected in Table 3-1. The drop in 2020

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was related to international students not taking up the offer due to imposed travel restrictions and market disruptions due to COVID. The University also pre-screens students through its Admissions office for academic and other eligibility criteria. As an example, in terms of the MBA, students may be interviewed during the application process. If they are not successful, they are counselled that it is not in their best interest and are directed to other more suitable programs. For the MBA, the School seeks to maximize the cross-cultural profile of the cohort, ensure students have at least three years’ work experience, although the program attracts students with substantially more experience than this, and undergraduate or equivalent degrees. Until the recent pandemic, the MBA intake comprised of students from fifteen separate ethnic and national backgrounds with an average age of 35. This has reduced somewhat over the past year, but there are indications that the program is growing again. The average work experience per student is thirteen years, and all have the required undergraduate or postgraduate pathway credentials. For entry to undergraduate degrees, the School requires successful completion of Australian or comparable international Year 12 schooling or an equivalent academic qualification. Administration of student applications is conducted by the University’s central admissions’ office that ensure all admitted students meet the academic and English language entry requirements. The undergraduate student cohort includes a balance of domestic and international applicants, which is consistent with the School’s aim of providing a cross-cultural student experience, noting that the proportion of international students was lower in 2020 because of the closure of international borders. A description of the student population is provided in Table 3-2.

Table 3-2: Student Profile (2018-2020) – On-Campus Programs (Excluding Study Abroad/Exchange) Gender

Age Profile

Domestic/ International

62% male/ 38% female 64% male/ 36% female 60% male/ 40% female

Mostly attracts students straight out of high school –17/18 yo on entry. Many students following on from undergraduate degree –(average age30.2) Entry for MBA requires minimum 3 years work experience. The average years of experience is 13.6 with an average age of 32.4 on commencement

71% domestic/ 29% international 29% domestic/ 71% international 68% domestic/ 32% international

Research Degrees

74% male/ 26% female

Broad range distribution – from mid 20’s to 50’s (average age 35)

68% domestic/ 32% international

Total

62% male/ 37% female

Undergraduate Postgraduate (exc MBA) MBA/EMBA

Country of origin of international students

PR China 28% India 17% Europe 12% USA/Canada 9% Japan 3% Other 30%

63% domestic/ 37% international

Note- more detail on international student profile and including profiles for the BBT program are included in Chapter 8. Bond University is one of the few Universities in Australia where a significant proportion of the domestic student body is from outside the direct region. 40% of undergraduate students are from outside Gold Coast, and 20% from outside the state of Queensland. 70% of postgraduate students are from outside Gold Coast, and on average 10% from outside the state of Queensland.

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Table 3-3: Source Regions for Domestic Students

Undergraduate

Postgraduate

2018

2019

2020

Gold Coast

60%

58%

59%

Brisbane

12%

Regional Queensland

11%

10%

11%

NSW/ACT

Victoria/Tasmania

Other

Gold Coast

73%

69%

Brisbane

10%

14%

17%

Regional Queensland

NSW/ACT

Victoria/Tasmania

Other

Social disadvantage in relation to University access is mitigated by the following. For domestic students undertaking studies at an approved private provider (such as Bond University), the Australian government has a scheme in place called FEE-HELP. This allows students to borrow up to €26,104 (in 2021) towards the cost of their degree. When the student earns more than €28,904 per annum they commence paying back the debt through the Australian taxation system, with a starting repayment rate of 1%. This scheme allows students, despite their financial and social background, access to a highly engaged private higher education. Students from indigenous backgrounds receive support from the University’s Nyombil Indigenous Support Centre. There are no specific scholarships for low socioeconomic students: scholarships are based on academic merit as outlined within each specific scholarship offered. The University does offer a hardship fund, particularly to ameliorate the effects of the COVID-19 pandemic. This fund provides some financial relief where a student’s personal circumstances have left them unable to meet living costs and study expenses. It is supported by alumni, community members and Bond University.

3.2

COURSE PREPARATION AND PROGRESSION

Whist the School does not have a specific program or activity for potential students in advance of commencing their program of study, there are several activities that are undertaken in the first semester of study. The flagship activity is the Business Mentoring Program in which new undergraduate students will participate. The program helps students to settle into their new environment, understand Australian culture and the expectations at university and opportunities. Close and specialized attention is also focused on international students, with a dedicated educator and senior student mentors. Additionally, it also provides greater opportunities for students to socialize with one another and form networks that are crucial for their studies and impending careers. Bond is a small community; most educators know their students by their first name and genuinely care about their students. The small class setting also helps the educators to identify if there are any academic or personal issues occurring. During the COVID-19 pandemic, the mentoring program was delivered solely online and as of 2021 has been offered in a mix mode capacity (on campus and online). The University also offers the Academic Skills Centre which provides individual consultations and workshops for students who wish to improve their academic skills. These consultations and workshops are free for all students to attend. To cater for remote students, appointments are available via face to face or videoconference (particularly BlackBoard Collaborate). Beyond this, there is an on-campus medical clinic and free counselling services. All educators are required to submit academic progress reports in Weeks 4 and 8 of each semester for students who are not EQUIS Reaccreditation Report – 2021

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adequately progressing in their studies. Progression as well as engagement issues are identified, and appropriate actions and recommendations are provided to students. Any student with a learning or medical disability can seek help from our disability office and extra support will be provided, all educators are informed of appropriate action plans, e.g., extra time allowed in timed assessments, regular breaks, computer software, and assignment extensions if necessary. Before programs start, both undergraduate or postgraduate students are required to undertake an orientation session lasting two to three hours. Beyond a general introduction to the life of a business student, these sessions attempt to relay our mission, particularly “Building business leaders, one by one”, to the incoming students and to always seek advice and support as soon as possible, when necessary. The School uses the University’s policy on credit transfer and exemption/advanced standing. In essence, it states that each application is assessed individually or against a precedence database. If it has not been assessed before, meaning that it is not on the database, the application will be submitted to the School. It is then evaluated initially to check that it is at the correct level, the correct number of credit points, has a comprehensive syllabus and is less than ten years old. Upon meeting these criteria, the syllabus is presented to the appropriate academic for content evaluation and matching against the appropriate School or intra-faculty subject. If it meets the minimum 80% overlap, then the credit and/or exemption is granted, and this is recorded in the precedence database. The student must then accept the credit which may reduce their degree cost, duration or may be issued with a substitution subject. In terms of international students, they will be issued with a Confirmation of Enrolment (COE) indicating the number of credits applied and a shorter study duration (if necessary) and an appropriate individual study planner outlining a plan for each semester. A summary of the retention and attrition rates for the past three years is as follows.

Table 3-4: Retention and Attrition Rates BBS UG

BBS PG

Retention

Attrition

Retention

Attrition

2018

91.30%

8.70%

72.70%

27.30%

2019

90.70%

9.30%

59.30%

40.70%

2020

89.22%

10.78%

66.38%

33.62%

When compared to the national average, particularly for undergraduate programs, the School consistently has retention rates well above national averages. In 2019 the average attrition rate for all Australian Universities UG programs was 17.95% compared to Bond University at 9.76% and the Business School at 9.3%. In looking at School postgraduate attrition, in 2018 the attrition in Master of Business (Professional) and Master of Accounting (Professional) was 81% for international students (predominately from India) due to students from India being enrolled but never attending or truly engaging in their studies even with School communication and support. This continued into 2019. While the issue has been addressed in 2020 and we expected attrition rates to move back to being in line with longer term rates, they actually remain high due to international students enrolling and expecting to come and study, but then not being able to get into the country. Student progress is monitored at School and University level. In terms of the former, the School, as mentioned previously, runs academic progress reporting in Weeks 4 and 8 of every semester. Each educator is asked to report students who are underperforming academically, not attending or engaging in-class or online and materials are not being accessed. These students are each sent an individualized email, or contacted personally, and appointments are requested to see their educator urgently.

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3.3

SUPPORT AND COUNSELLING SERVICES

Support for students throughout their studies is assured in five major ways: 1. 2. 3. 4.

The School Based Mentoring Program – as previously described. The University based Academic Skills Centre – as previously described. The academic progress reporting cycle – as previously described. Bond Academic Support Program – is available for students who did not pass two or more classes in the prior semester or have one final opportunity to avoid exclusion from their degree due to poor academic progress across two semesters. Support is offered one on one with educating students to improve study strategies, plan, seek support from lecturers and the Academic Skills Centre and to submit before or by deadlines. This program has assisted many students to improve their study management and achieve higher than passing grades. Open door consultation policy – Educators in the School are required to set aside two extra hours each week for each subject they teach to be openly available to students. Typically, this means that students have guaranteed access to the academic in their office, via virtual meetings or phone calls. Beyond this, students may make appointments to see the academic, and are strongly encouraged to do so. Associate Dean - Student Affairs and Service Quality – The School has a specific senior member of staff who provides strategic leadership in the area of student affairs as well as day-to-day management of student issues. A Manager of Student Affairs and Service Quality supports the Associate Dean and all student centric departments within the University. The University has recently appointed a “Director of Student Success and Well Being”, Kerry Valentine. This completely new position is designed to oversee and improve all the support programs for students across the university.

In terms of student counselling, the University has two full time psychologists (one male, one female) and one part time psychologist (female). The structure of Psychological Services works very well with a balance between male and female psychologists, each with their own strengths in differing treatment approaches. The psychologists are all fully registered psychologists with the skills to diagnose, assess and treat mental illness and it is their role to help every individual person who accesses their on-campus or online (within Australia) consultation services. The evidence would be that as individuals progress through therapy their psychological wellbeing increases. If an individual requires specialist care external to the University, a referral is organized via one of the two campus medical practitioners. The psychologists liaise with the Disability Support Office and Manager, Student Affairs and Service Quality in each faculty when necessary. Due to privacy laws, statistics are not able to be released.

3.4

PERSONAL AND PROFESSIONAL DEVELOPMENT

Every undergraduate student is enrolled in a compulsory professional development subject, “Beyond Bond” extending from commencement of their degree to completion. The subject is not for credit but is a degree requirement. It is focused on employment outcomes and aims to equip students with the knowledge and skills to effectively plan an appropriate career path and broaden their employment skills beyond the classroom. To complete Beyond Bond, students are required to obtain a minimum of 100 points from the Beyond Bond Activity Framework prior to graduation. The framework encompasses a variety of work-integrated learning, community engagement and professional development activities. Appendix 3.2 provides a report on the Business School student engagement in Beyond Bond over the last three years, with around 150 students engaged each year, with industry related and curriculum related submissions the major focus of activities undertaken. Half of the students continue to engage in their Beyond Bond activities after subject completion.

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Beyond Bond is focused on eleven employability skills – common to all degrees and careers. For every activity that a student participates in within the Beyond Bond framework, they are required to complete a written reflection on the skills that have been enhanced. Through Beyond Bond and their studies in the various subjects they undertake, the School aims to develop qualities of resilience, entrepreneurism, and leadership in all its graduates. The following table defines these:

Table 3-5: Delivery of Employability Skills Category People

No. 1

Employability Skills Communication – oral/written

Teamwork

Leadership

Self

Self-management

Thinking

Critical thinking

Planning/organizing

Information management

Initiative/enterprise

Global perspective

Ethical thought and action Sustainability

Approach

Description The ability to communicate orally, with a level of clarity and formality appropriate to the context. The ability to express ideas clearly and correctly in written form to the style required of the occasion. The ability to work with others to achieve a collective goal, ensuring clear responsibilities and tasks, and the ability to perform different roles to adapt to the needs of the group. The ability to motivate, encourage, energize, take responsibility, and support others while taking the lead to achieve common goals. The ability to set personal goals and work steadily towards them and organize, prioritize, and plan activities to work at optimal capacity and achieve a desirable work/life balance. Embracing a life-long learning approach to skills development. The ability to identify and think through issues from all aspects, evaluate and formulate a logical framework to present a reasoned case. The ability to organize, prioritize and plan activities and events such that they proceed at optimal capacity and efficiency and contribute to short term and/or long term strategic planning. The ability to know where and how to retrieve (using diverse technologies), evaluate and organize appropriate information to address or apply to a problem or issue. Acting before being prompted or taking a fresh approach with energy and enthusiasm to pursue a project through being creative and innovative. Adopting an approach to issues which takes account of cross-cultural and global perspectives and influences. Taking a responsible approach which focuses on integrity and ethical, moral and cultural values and standards. Demonstrating a commitment to development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

There are two main ways that the School encourages students to define their own personal and professional plans: 1.

Internships: Approved internships can be taken by students for academic credits as part of their studies. Apart from an industry partner, students also have an academic supervisor to ensure the quality and rigour of their work. The subjects in which this is featured are called BUSN13-700 Business Internship (UG) and BUSN71-700 Business Internship (PG). Transformer: The Transformer is an incubator program that allows students to develop their own business ideas with the developmental support of dedicated staff. It also provides a collaborative workspace.

The School employs a full-time developmental coach, Ms. Karin Hanna. Apart from being the Business Mentoring Program director, she also coaches students in developing self-management skills necessary for successfully completing their programs of studies. She is also in charge of the Business Academic Support Program (BASP) previously described

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that assists students who have failed subjects in previous semesters to improve their self-awareness and time management skills to focus on having greater opportunities of passing subjects in subsequent semesters.

3.5

CAREER PLACEMENT AND SUPPORT

The Career Development Centre provides students with individualized support and counselling with the aim of placing students in their desired profession to gain essential skills and attributes that will transition students to the workplace and their desired career. Beyond this, the team provide a broad range of services to students at no cost, including: • Full recruitment service for graduate, internship, and work experience opportunities. This includes advertising, matching, shortlisting and interview coordination. • Online resources such as: o Scout (https://bond-csm.symplicity.com/) This is the CDC platform used to promote all events/ programs/ jobs/ internships/workshops/career resources and any other offerings to students from industry partners o https://gradcareers.bond.edu.au/ This is a curated platform from GradAustralia for Bond students. This platform provides an additional resource to students seeking advice on their career path, the recruitment process and virtual internships. Also, during the peak of Graduate and Vacation season recruitment, students can access available opportunities with leading national top tier organizations. This year the Bond platform hosted virtual careers fair for the Legal/Clerkships, Health, Indigenous, Disability and Diversity streams. o Students - Virtual Fair 2021 (gradconnection.com) Virtual Careers Fair, in which Bond CDC took part, with a virtual booth at this year’s careers event along with many potential employers looking for future employees. It has been heavily advertised to students. o The Big Meet - Home A local careers fair in Brisbane. o 180 Degrees Consulting – Queensland Case Competition. Bond is participating along with UQ and QUT. o https://www.theforage.com/ This is a free virtual work experience program to give students opportunities to learn career skills from Fortune 500 companies. Promotion and advertising of opportunities (part time, internship, work experience, graduate, and experience roles). Coordination of all work experience and internship processes – insurance documentation and evaluations. Promotion and advertising of industry events, company profiles and scholarships. Employer presentations on campus and virtually. Annual job and internships fair. Engagement within Beyond Bond Program. Introductions to Academics for in class presentations and activities. Design of specialist programs to support industry needs.

• • • • • • • •

Additional services provided to students and alumni:- The Career Development Centre had 2887 interactions with Bond Business School students between 2018-2020 (673 student interactions in 2018, 1,016 in 2019 and 1,198 in 2020). More specifically, types of interactions have included: • • • •

Graduate and Vacation Employment Support Internship and Work Experience Support Interview preparation, including mock interviews Part time employment strategy and support

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Resume and application reviews and feedback Career counselling Event attendance Beyond Bond consultations

Page 3-7

These services are provided by qualified Career Development professionals, all of whom hold post graduate qualification in the field of business or career development. Specialized career support is provided to students in programs with a professional orientation through in-class workshops and placement facilitation. A designated Employment Services Specialist for BBS students is positioned within the Business School one day per week to have further access and visibility to students. We believe this has contributed to the increase of engagement and successful outcomes for our students.

3.6

ALUMNI RELATIONS

In mid-2013 the University made the decision to reform the Alumni Community, through forming an Alumni Advisory Board to help develop a beneficial relationship between Bond University, its alumni and other members of the academic, professional and wider community. The Alumni Advisory Board is made up of seven alumni, including the Chair appointed by Council, three elected members, three appointed members, and three Bond staff, including the Vice-Chancellor. One member for each of the elected and appointed categories is an international representative. Within this formalized framework is a new structure to form alumni committees through cohort years, geographical locations, study disciplines and other special interest groups, as per the interests of our alumni. Following the announcement of the new framework and election of the Alumni Advisory Board Members, alumni were invited to register for the new committee structure in late 2013. To date there has been a positive response from alumni, across 23 countries. In 2020, the University also opened an Alumni Centre on its main campus. This has a Bond Merchandise Store, an Alumni Lounge, four meeting rooms and a Boardroom and is open 9am to 5pm Monday to Friday excluding public holidays. Alumni have been involved for many years in student outreach activities, such as the Alumni Mentor Program, internships, graduate placements and promotional activities. In addition, alumni are involved in School Advisory Boards, where they contribute to curriculum development, industry engagement and directly with student outreach activities. Alumni involvement in these activities has enabled the University to support the very popular Student Opportunity Fund, which helps students to undertake overseas exchanges or study abroad, internships, conference attendance or special projects which relate to their studies and communities, underpinning the University’s focus on student experience and career outcomes. First, the Alumni Board has a strong focus on engaging with alumni leaders and using them as a key communication and coordination device for wider engagement. This engagement is achieved through the formality of an Alumni Board and the annual Alumni Leaders Forum (which is akin to a style of homecoming weekend). The Alumni Leaders Forum activities have an emphasis on communication with the University. The Forum provides an opportunity for the alumni leaders to be informed of university strategy and issues and similarly provide an opportunity for the University to listen to the views of the alumni. Second, the alumni framework embeds and defines the alumni groupings, the rights, and obligations of various levels of recognition, and creates incentives for alumni groupings to advance their status. Third, the Alumni Board takes responsibility for coordinating events and activities, including the distribution of funding. The School supports the alumni through administrative support and funding for the level of alumni committee. Alumni Committees are divided into the following levels: Chapter, Group and Club. The following funding support guidelines may apply: •

Alumni Chapter (>100 members) – allocated annual budget of €3,100 - €6,200.

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• •

Alumni Group (50 - 99 members) – allocated annual budget of €1,240 - €3,100. Alumni Club (10 - 49 members) - allocated annual budget of €500 - €1,240.

Alumni are also involved in fund raising activities. Through an Annual Fund Campaign, alumni and supporters of the University contribute funds to support student activities, research, and facilities development. While the amount raised is modest, it has been growing each year since we commenced the Annul Fund Campaign in 2009. A small number of individual alumni have been supporting the University through larger donations, which are also assisting student activities, research, and facilities development. The Bond Business School, together with the wider University is committed to developing a lifelong, mutually beneficial relationship with its alumni. BBS works closely with the central Office of Engagement to support their activities and involve alumni in the life, operations, and strategic direction of the University. The School is fortunate to also have strong representation from alumni on University Council (Mr David Baxby and Mrs. Lisa MacCallum) and the Alumni Advisory Board (Dr Jennifer Cronin – who is the Chair, Ms. Sanjana Bhatia, Mr Yasuhiro Kawane and Mr Damien Vanderwilt). BBS also has strong alumni representation with Bond University Limited with four of the twelve Alumni Members being BBS graduates (Ms. Eleanor Donovan, Ms. Ashleigh Golinelli, Mr Christopher Mulcahy, Ms. Annabelle Simon). Within the School, BBS has several of its alumni as part of the BBS Advisory Boards, including Dr Jennifer Cronin (President, Wharf Hotels Management Limited (Hong Kong)), Mr Jared Pohl (Director, ECP Asset Management) and Mrs. Fiona De Jong (Director of Sport, Australian Olympic Committee). The University runs an extensive Alumni Committee network both within Australia and overseas. There are currently 30 Alumni Committees (7 Australian, 18 International, 4 discipline and one special interest committee). Two of the discipline committees are Business based: Hotel & Tourism Management and MBA. Business graduates currently hold 12 of the President positions for these committees, with a further 47 serving in Executive positions, for example Vice President, Secretary and Treasurer. In 2019 these committees hosted well over 60 events for 1,700 alumni and in 2020 over 50 (virtual) events for 800 alumni. In May each year the campus is opened to invite alumni back for Homecoming. Homecoming unfortunately was cancelled in 2020 due to the COVID-19 pandemic, but a multi-modal version was run in May 2021. The program included 17 events, plus over 30 rugby, netball, and Australian Football League (AFL) sporting games across two weekends and multiple locations. Approximately 900 tickets were allocated across the events from just under 400 individual registrations (many individuals registered for guests in the same registration and to attend multiple events). The University ran its first Giving Day as part of Homecoming, and as at June 11th 20212, the online tally is €94,300 (of which it is estimated by the Alumni and Development Office, €33,000 was contributed from Business School alumni). There were two specific BBS events, and MBA Panel hosted by Dr Gary Bowman (approx. 25 attendees), and the Bond Business Leader’s Forum (approximately 100 attendees). There was obviously also strong BBS representation (approximately 250) at the Alumni Awards Dinner. The MBA Alumni Committee is a strong supporter of raising funds for University initiatives and will again host an event during Homecoming. In 2018, they raised €37,000 at their Bond Benefit Dinner. The MBA Committee also hosts events in January and August each year (excluding August 2020) to facilitate alumni networking with the new cohorts of MBA, and BBT students. These events have attracted more than 50 attendees for each event and a great networking opportunity for all participants. The MBA Alumni Committee also led the way hosting several virtual events in 2020 sharing business insights regarding the economic and cash flow environment for Australian businesses as the COVID-19 pandemic took hold. We are fortunate to have alumni participate as guest speakers regularly at various forums such as Business Links events, semester Orientation events, and in-class sessions for current students. We were also pleased to have 35 Business graduates last year participate as mentors to current students for one full semester as part of the University’s Alumni Mentor Program. EQUIS Reaccreditation Report – 2021

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While the Alumni Centre is a centralized University service, the School is involved with the Office of Engagement in developing alumni relations through: • • • • •

Assisting and attending events for committees with a business focus, for example Japan. Inviting business alumni to professional development events (e.g., Business Links) and to meet with current students, for example during BBT study tours. Supporting the development of new alumni chapters. Running professional development programs for alumni in their area of expertise (with alumni considered a core market for our executive education developments – see Chapter 6). Profiling the University’s business alumni.

Over 200 alumni are registered as volunteers to assist the staff with marketing profiles, guest speaking, speaking with future students and assisting with future student recruitment. Post-graduation our alumni base themselves in countries all over the world (Chapter 8). As indicated in Table 3-6, alumni are employed in global organizations and in senior roles. Appendix 3.3 includes a list of the major employers for each of the three programs over the past three (2018-2020) years that have been reported to the CDC by students.

Table 3-6: BBS Alumni Career Profile – Top 15 Employers and Roles

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Employer

KPMG PwC Self employed EY National Australia Bank Deloitte Accenture Macquarie Group Commonwealth Bank ANZ Telstra Westpac Griffith University Microsoft IBM

49 45 41 37 32 29 23 21 21 18 14 14 14 13 13

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Position

Director Managing Director Manager Owner CEO General Manager Consultant Partner Accountant Project Manager Associate Founder Solicitor Senior Manager Marketing Manager

358 226 147 127 168 90 76 73 73 57 53 44 38 38 38

Source: Bond University Alumni Database, February 2021. This excludes alumni who work in the University (including faculty)

3.7

INTERNATIONALIZATION

The University employs regional managers for marketing and recruitment activities across the world. A manager is assigned a particular region, such as the Middle East or Europe. The managers live and work in these regions. They cooperate with recruitment agencies in their region, as well as local schools and universities. They pre-screen, interview, and assist potential students with completing the application and scholarship forms. They also work directly with visiting academics from the School to put on showcase events (such as seminars and talks) to schools and universities in their region. The regional managers are supported by the central marketing office and work only for the University. EQUIS Reaccreditation Report – 2021

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As previously mentioned, applications are managed by the University’s central admissions office. International undergraduate applicants typically include students who have completed equivalent secondary school studies (to Queensland Year 12 level) in their own countries. The University imposes a minimum age requirement of 17 years and a minimum entry score of ATAR (Australian Tertiary Admission Rank) 65 for the Bachelor of Business and Bachelor of Commerce programs. Applicants who are about to complete their final year at an international high school will be also considered, based on the predicted ATAR or International Baccalaureate (IB) score provided by their school. Applicants who do not meet this minimum entry score will be considered for admission into a Bond University College pathway program. An undergraduate degree from a recognized institution is needed for entry into the School’s postgraduate programs. Students must demonstrate a certain level of English (IELTS 6.5-7) to study in the University. International experience does not figure in the selection process. The support provided to maintain agreed English standards is provided by the Academic Skills Centre (as previously described). All postgraduate students may undertake the PG Business Bond English Language Assessment (BELA) to obtain feedback by appointment for early intervention on improving English, sentence structure and concise writing skills. Students may also elect (or indeed are encouraged) to take the University-wide English Program. This is specifically designed to assist international students wishing to enter the University and provides students with the academic language skills required in a university where English is the medium of instruction. Anecdotal evidence confirms that this measure is effective. Through the Business Mentoring Program, undergraduate students are exposed to intercultural mentor groups and ways of thinking. Intercultural skills are also built into many of the School’s subject offerings. Additionally, the University offers the following: • • •

Intercultural awareness is embedded within the Introductory Academic Program for AusAid students. Intercultural awareness is embedded within the “Getting the most out of your stay in Australia” for Study Abroad students. The Career Development Centre runs an Intercultural Skills workshop series.

The international nature and contents in our subjects (see Chapter 2) certainly prepares them academically to manage and operate globally and in activities such as study tour subjects and international internships. The School works alongside the Study Abroad and Exchange staff (within the Bond International Office) in encouraging and arranging international exchange opportunities for students within their programs. The inward and outward international student exchange flows for the past three years are provided Table 3-7. Bond Business School is an attractive destination for study abroad students, with large numbers from the USA, Canada and Europe especially in the January semester (i.e., northern hemisphere winter), and except for the circumstances of 2020 and 2021 make up a significant proportion of each classroom. Australian students are generally less likely to engage in exchange despite the existence of Commonwealth Government schemes to encourage it although Australia is a popular destination – making matching exchanges difficult even for the larger business schools, and especially for a smaller school like BBS. As such we are committed to organizing study tour opportunities for students to enable international experiences. Over the longer term we have run annual study tours to China, aimed at cross cultural experience and to Silicon Valley, particularly aimed at those with an entrepreneurship interest. On average 25 students participated in

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these annually until 2020, and the School was developing additional study tours for going forward. Appendix 3.4 provides the itineraries of the 2019 China and Silicon Valley study tours.

Table 3-7: Exchange and Study Abroad Bond Business School

2018 2019 2020

Exchange 20 19 8

Inbound Study Abroad 273 261 145

Total 293 280 153

Exchange 13 11 0

Outbound Study Abroad 0 1 0

Total 13 12 0

Note: the number for 2020 were results for January semester only, after which international borders were shut down due to COVID. For incoming students, prior to arrival an email regarding activities to partake in during their first week on campus is sent; an integrated domestic and international set of events is held during Orientation Week each semester to promote and foster engagement with fellow international and current domestic Australian students (face to face and virtual). For outgoing students, information sessions are held each semester (with involvement by current incoming students and previous outbound students), to advise of overseas exchange experience and learning opportunities. Staff at both the International Office and the School are available, to provide students guidance on host institution/region specifics such as subject approval processes, credit weightings and transcript requirements. International internships fall under the auspices of the two previously mentioned subjects BUSN13-700 Business Internship (UG) and BUSN71-700 Business Internship (PG). These are reported in Chapter 8. The School provides extensive support for international students in collaboration with the Study Abroad and Exchange office. The Student Business Centre has a specialist team who support international students in a range of areas: • • • • • • •

3.8

Update and issue CoEs (Confirmation of Enrolment). Monitor and report international students to the Australian immigration authority to ensure compliance with the ESOS (Education Services for Overseas Students) Act and the National Code. Monitor international sponsored students, including Australia Award scholarship holders. Arrange and assist with Overseas Student Health Cover (OSHC). Provision of letters (e.g., 485 completion letters, invitation letters). Assistance with Student Visa implications Support with planning subjects, to ensure compliance with expected completion dates.

ETHICS, RESPONSIBILITY AND SUSTAINABILITY

Bond Business School adopts the university admissions processes that conform with national government regulations that ensure ethics and sustainability. Bond University complies with key Australian legislation governing the delivery of education services including ESOS, HESA (Higher Education Support Act), and TEQSA. Bond University conscientiously demonstrates integrity and objectivity in our student recruitment, admissions, and student administration activities, and recognizes the impact of our decisions on each applicant and student. The University upholds clear and transparent entry standards across all programs to maximize study success. The University welcomes a diverse student body with domestic students enrolling from across all Australian states and territories. On 09 July 2019, Bond University became the first private, independent university in the Pacific region to be accepted as a signatory to the United Nation’s Sustainable Development Goals (SDGs). Bond University recognizes the vital role Universities play in achieving the SDGs through the contribution of knowledge and solutions, by inspiring the next EQUIS Reaccreditation Report – 2021

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generation of leaders and change-makers, and through embodying the principles in governance and operations. Bond University values everyone’s contribution and recognizes the important role our staff, students, alumni, and partners have in working collectively towards the goals. Our commitment in action can be found at https://bond.edu.au/futurestudents/study-bond/find-out-why-bond/united-nations-sustainable-development-goals. Bond University is committed to providing a culturally safe and supportive learning environment for Aboriginal and Torres Strait Islander students where they can progress and complete higher education programs at the same rate as, or at a better rate than, non-Indigenous students (see Section 3.1). The University delivers up to €3.1m in scholarships to new commencing students every year. This program recognizes academic merit as well as leadership potential. The School is a member of PRME (Principles for Responsible Management Education). As such, it incorporates ethics, responsibility, and sustainability into the curriculum. The following gives a summary of this: • • • • •

69.2% of subjects (45 subjects) included general issues of business ethics (e.g., bribery, ethical dilemmas in business, violation of reporting standards etc.) 30.8% of subjects (20 subjects) included general issues related to CSR (e.g., corporate philanthropy, triple bottom line etc.). 36.9% of subjects (24 subjects) included general issues related to sustainability (e.g., environmental issues). Overall, 73.8% of subjects (48 subjects) included general issues related to business ethics, CSR and / or sustainability. In total, 27.7% of the School’s subjects (18 subjects) covered professional codes of conduct/regulations. The professional codes of conduct/regulations that were covered included the following: o Auditing Standards o APES 110 Code of Ethics for Professional Accountants o Clarity in Pricing Legislation o Financial Adviser Standards and Ethics Authority Code of Ethics o International Valuation Standards Council Code of Ethical Principles for Professional Valuers o National Statement on Ethical Conduct in Human Research o Privacy Laws o Tax Agent Services Act

At the University, ethical thought, sustainability, and responsibility are built into the curriculum for all programs. As mentioned previously, the University runs a Core program that all undergraduate students are required to take. This is unique in Australia. One of these subjects is CORE11-003 Responsibility, Integrity and Civic Discourse. Additionally, students in the School are regularly involved in extra-curricular activities that involve an ethical component. Some examples of these include: 180 degrees consulting (a student not-for-profit consulting group); BUCOG (Bond University Community Outreach Group); the indigenous mentoring program and awareness; youth leadership programs such as Youth Parliament, Rotary Youth Development. The Business Mentoring Program, through its sessions with students, constantly emphasizes ethical behavior and responsible actions. At the University level, the extra-curricular groups above are supported through the Beyond Bond framework and some through direct University sponsorship. Students earn “Beyond Bond” points for participating in these. As previously mentioned, the University is unique in that it requires students to complete several extracurricular activities before they are eligible to graduate. The Business Student Association (BSA) makes the effort to uphold the academic integrity of our students. The association is constantly looking into different initiatives to make students more aware of what academic integrity is and the consequences of breaching the code that the University provides. Additionally, the BSA assists the School with the running of the class representative program, which allows students to obtain more responsibility whilst studying, EQUIS Reaccreditation Report – 2021

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and being the link between students and the educator. Students can volunteer for the BSA either through the election process and taking on either executive or director roles or by assisting the directors through an officer role. This gives students more responsibility whilst studying as they are responsible for ensuring their portfolio expectations are being met whilst also assisting with general committee duties.

3.9

CONNECTIONS WITH PRACTICE

The School is well engaged with its relevant corporate stakeholder groups through a range of initiatives that ultimately enhance and enrich the student experience. These are as follows: • •

•

Industry Advisory Boards – The School works in partnership with its Advisory Boards to ensure the strategic direction and focus of its programs and other activities remains relevant to industry and to students. Industry Engagement Events – The School runs several events through which its academic research, program highlights and key corporate partnerships are communicated to industry invitees, including the Bond Business Leaders forum and Business Links. Students have opportunity to participate in these events and hence are involved in the broader corporate engagement activities of the School. Work Experience and Internship Partnerships – Students are encouraged to undertake a range of work experience and internship opportunities within a diverse range of companies. These opportunities connect our students with more than 150 businesses. While most of these are local businesses, some interstate and international work opportunities also exist. Other Informal Connections – Several informal linkages exist including various academic staff inviting industry guest speakers into their classes; using live industry case examples within their subject assessment; and undertaking industry site visits with student groups. One example is that for the subject DTSC13-304 Applied Data Analytics Project, students work with an industry partner (such as RACQ, Blue Shield Australia etc) to work on an actual industry data set to solve real-world problems

There is no corporate involvement in the admissions process at all. The School, and the University, believe in independent, fair, and transparent process that is based on academic merit. As noted, a major connection between students and corporate world is linked to the activities with the Career Development Centre. The Career Development Centre (CDC) facilitates interaction with industry for Business students in a range of ways including: • Promotion of relevant employment and work experience opportunities to students via Scout, the careers and employment portal, targeted emails and recruitment service to employers. • Industry presentations on campus in 2018 and 2019. • Due to COVID, the presentations scheduled for May and September 2020 semester were converted to virtual presentations. • On campus Careers Fair in 2018 and 2019. • Due to COVID, the Careers Fair scheduled for March 2020 was cancelled and the CDC partnered with GradAustralia to deliver virtual careers fairs through September and October 2020. • Linkage of industry partners for student association events including interview competition, industry panels and graduate breakfasts. Industry engagement in the CDC extends globally through the role of the Manager International Career Development who works with international employers to source and facilitate industry placements and graduate outcomes. During COVID affected semesters, virtual and remote placements with international and national organizations were promoted. Appendix 3.5 includes a list of companies that are regularly engaged with the CDC in campus visits (career fairs, on campus events and virtual events during COVID). EQUIS Reaccreditation Report – 2021

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In addition to career support, the School is involved in offering work experience or internship opportunities. Table 3-8 indicates and the number of students who have undertaken such opportunities from January 2018 to September 2020, including placements for international students.

Table 3-8: Work Experience Placements – 2018-2020 Year

Semester January May September

International Student Placements 21 6 6

Domestic Student Placements 16 25 27

Total Student Placements 37 31 33

2018

2019

January May September

10 7 13

16 30 33

26 37 46

2020

January May September

17 14 13

28 8 23

45 22 36

During the COVID effected semesters of May and September 2020, placements numbers were impacted given the number of employers who transitioned to a work from home arrangement and the uncertainty of workflow predictions for the time period. Where possible, employers were able to convert students to a work from home arrangement and the University provided support to students through insurance coverage. The CDC during this time played a crucial role in managing these arrangements and ensuring students on placement and employers were gaining as much benefit from the placements as they would be in a face-to-face arrangement.

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FACULTY

4.1

CORE FACULTY SUFFICIENCY

The School had 45 core faculty members in 2020. All levels of professorial faculty typically teach, research, and provide service 11 within a 40:40:20 workload model. There is some scope for faculty to negotiate an alternative workload balance if an individual has a significant management role within the School or is engaged in an extensive research role. Senior Teaching Fellows are employed on annual fixed term contracts which apportions their workload on a 70:30 basis across teaching and service. Most of these faculty members are actively engaged in research with several currently enrolled in PhD programs or involved with other research projects. Table 4-1 profiles the core faculty by rank and discipline in 2020. Individual details for each faculty member are provided in Appendix 4.1. While each faculty member is primarily aligned with one of the nine key discipline areas listed, several faculty teach across multiple areas. Given the small scale of the School, formal departments do not exist which enables greater interdisciplinary collaboration to occur. Examples of these are provided in section 4.3. The balance of faculty across academics ranks provides sufficient academic leadership from the professorial level to support and mentor the more junior faculty members.

Table 4-1: Distribution of Core Faculty by Discipline, 2020 Discipline areas

Professor By Gender

Accounting

F 0

Actuarial Science

Data Science

Economics

Finance

1 2 1 1 1

Marketing

0 0

Sports Management

Hotel, Resort & Tourism Management

Total (by Gender)

Management, Entrepreneurship & Global Strategy

Total (by Rank)

Associate Professor F

3 1

1 2 1 1 2

1 8 8

Assistant Professor F

2 3

1 1

All

3 0 0 1 3 1

4 6 3 3 4 2

7 6 3 4 7 3

0 1 2

4 1 7

4 2 9

1 2

2 8

Total FTE F

2 1 3 17

Senior Teaching Fellow F M

The number of core faculty across the School is sufficient to deliver our small-sized classes and maintain our reputation of providing a highly personalized learning environment, and indeed as noted earlier, the School’s compares very favorably against other institutions across the sector. The distribution of core faculty across discipline areas is generally well aligned with enrolment numbers across programs and majors. While the School has historically had 60 – 70% of its teaching delivered by core-faculty, this figure rose considerably during 2020. Core faculty taught most subjects (i.e., 82%) offered by the School last year due to

Faculty service expectations that fit within this 20% include engagement with School marketing activities and engagement events (eg graduations, Business Links, alumni events), project leadership and administration roles (eg committee membership), community engagement (eg board membership) and involvement in consulting projects.

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the need to not renew contracts for the vast majority of non-core faculty in response to the impact of the pandemic on enrolment numbers. Figure 4-1 further profiles the core faculty by highest qualification, age, gender, and nationality.

Figure 4-1: Demographic and Educational Profile of Core Faculty, 2020

Faculty Age Profile

Faculty by Highest Qualification PhD

Enrolled in PhD

35% 30%

Non-PhD

25% 20%

15%

10% 5% 0% 82%

20 - 29 30 - 39 40 - 49 50 - 59 60 years years years years years or more Faculty Age Profile

Internationalization of Faculty

Gender

Origin of PhD Qualification 24%

Nationality (by Passport Status)

76%

0% 20% 40% 60% 80% 100% Australian International Male

Australian with Dual Passports

Female

In summary: • • •

•

The majority of core faculty (82%) are PhD qualified. A further four (9%) are currently enrolled in a PhD program. The age profile of faculty generally aligns with the academic rank of staff. Almost one quarter of faculty are aged 60 years or more, which has implications for future workforce planning. The gender balance across all ranks of academic faculty is approximately 75:25 male to female. While desirable, and indeed a priority that the proportion of female faculty increases, the School’s current gender profile is comparable to the Top 10 European business schools where females were reported by the Financial Times to account for just 23 percent of faculty in 2015 (Rosebury et al, 2016). The School is committed to considering this issue in upcoming appointments. We also note that of the 3 successful applications for promotion in the 2021 round, 2 were female. The vast majority of core faculty are Australian nationals (87%) but this is not reflective of the international experience of faculty. Six of these 39 staff have international origins but are classified as

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Australian here since they hold dual passports. Almost one third of staff who are PhD qualified obtained their doctoral degrees outside of Australia. The overall number of core faculty has remained stable since the last accreditation period (i.e., 44 faculty in 2018). Table 4.2 reports the number of new faculty appointed and the number of departures over the last five years.

Table 4-2: Core Faculty Movements, 2016 – 2020 2016

2017

2018

2019

2020

Appoint

Depart

Appoint

Depart

Professor

Appoint 0

Depart 0

Appoint 1

Depart 1

Appoint 0

Depart 0

Associate Prof.

Assistant Prof. Snr. Teaching Fellow Teaching Fellow Total Movements Total Core Faculty

Note – the discrepancy between the current number of Faculty (n=45) and the changes in faculty reported above since 2018 (i.e., 44 + 7-10 = 41) is attributed to four faculty who departed from the University in late 2020. While these are shown in this table as departs, they are still included within the 45-core faculty as they worked most of the year.

Limited recruitment occurred during 2020 due to the pandemic. One new appointment was made of a candidate who was subsequently unable to enter Australia due to international border closures. Dr Rand Lo (Associate Professor, Finance) is currently working from Malaysia, on a fractional consultancy basis which has enabled the School to engage him in research and microcredential activities until such time that he can commence work on campus. Four of the faculty who are reported as core-faculty during 2020 departed in the later part of the year. One of these was due to resignation and three were due to non-renewal of fixed term contracts. No faculty employed on a continuing basis were made redundant.

2021 FACULTY RECRUITMENT PLANS Three faculty members departed from the School between April and May 2021. • • •

•

The School subsequently appointed Dr Kevin Fergusson (Associate Professor, Actuarial Science) in late April 2021. Dr Tracey Zalk was also appointed as Assistant Professor (Actuarial Science). Dr Zalk is UK based and will join the School pending approval of an international travel exemption. Professor Robert Faff was appointed in March as Associate Dean (Research) to replace Dr Bruce Vanstone who departed in April. Professor Faff is also an Emeritus Professor of Finance at the University of Queensland (Brisbane, Australia). Professor Faff’s appointment was facilitated by a University wide strategic initiative to bolster research capacity. Two additional positions are currently being recruited for to fill gaps in the management and entrepreneurship disciplines.

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4.2

QUALITY OF CORE FACULTY

The School employs a high caliber of faculty, the majority of whom are PhD qualified and have significant prior experience in teaching at a tertiary level. Other key indicators of the quality of expertise held across faculty include: • Faculty can be considered well qualified: o Of those Faculty who are classified as research Dr George Hrivnak received a 2020 National Citation enabled (i.e., engaged in research post PhD), 66% for outstanding contribution to student learning for are classified as ‘Research Active’ (i.e., at least developing, delivering and leading a range of meeting, and often exceeding the School’s innovative design thinking curricula to enhance performance targets regarding publications, grants students engagement and provide authentic and/or research higher degree supervisions). experiences to enable students’ learning o Two faculty members were nationally recognized

o o

for their outstanding contribution to student learning in the 2020 Universities Australia Dr Colette Southam received a 2020 National Citation for National Citations. The University received outstanding contribution to student learning for leading three citations overall, the most at any the Australian Business Case Network to enhance institution across the country. business students’ real world applied problem solving 67% of faculty have prior industry work through expanded case teaching and writing. Colette experience relevant to their disciplines facilitated several case workshops and provided training 22% of faculty have formal teaching for 200+ academics from 20 different Universities qualifications (e.g., Graduate Certificates or Diplomas in Tertiary Vishal Mehrotra, Senior Teaching Fellow (Marketing) won the Teaching or have completed the University’s Three Minute Thesis Competition in 2020 for his PhD University’s Foundations of University research on gamification in marketing. He then went on to compete Learning and Teaching (FULT) in the Asia Pacific competition which was held in Brisbane. program).

Several faculty members have also been recognized for their excellence in research and/or teaching through a range of University awards:

4.3

Dr Bruce Vanstone, Professor (Data Analytics) was the recipient of the 2019 Vice Chancellor’s Award for Research Excellence. Dr Adrian Gepp, Associate Professor (Data Analytics) was awarded the 2019 Vice Chancellor’s Award for Early Career Excellence

OVERALL FACULTY MIX

In addition to the Core Faculty, the School employs a range of non-core faculty who are contracted to teach on a semester-by-semester basis. Most of these non-core faculty have taught for several years and are valued for the significant industry expertise into the School which aligns well with the School’s focus on developing industry-ready graduates. Non-core faculty have a minimum of a masters degree in the relevant area, and are teaching-only focused, with no expectation of involvement in research or service, however several voluntarily participate in faculty events and support recruitment activities. They are required to undertake the same teacher training as core faculty on appointment. These faculty members are considered critical to the School and integrate with core-faculty on a day-to-day basis. When non-core faculty are appointed to teach in the School, they have typically had previous teaching experience at other tertiary level institutions. All new noncore faculty members are required to undergo the University’s Foundations of University Learning and Teaching (FULT) program. EQUIS Reaccreditation Report – 2021

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The effect of the pandemic resulted in most of the School’s non-core faculty being stood down during 2020. In line with the University’s response to reduced student enrolments, the School re-allocated teaching loads normally taught by sessional staff across the core faculty. As a result of the loss of most non-core faculty, the teaching workloads of core-faculty were increased in 2020 and 2021 to ensure that the School could adequately deliver on its core curriculum requirements. The School adopted the general principle that all core-faculty are required to teach one additional subject above their regular workload. In most cases, faculty were required to upskill rapidly to teach in online and multi-modal delivery for the first time. A range of initiatives were put in place to support core faculty during 2020 as they adapted to the changes in learning and teaching during the pandemic period. These are outlined in Sections 4.7 and 4.8. The multi-disciplinary nature of the School presented opportunities for several staff to teach across disciplines in alignment with their qualifications. Some examples of faculty involved in cross-disciplinary teaching include: • • • •

Dr Mike Raybould (PhD, Environmental Economics) teaches in both tourism and economics subjects. Dr George Hrivnak (PhD, Management) and Dr Colette Southam (PhD, Finance) team teach a postgraduate subject in Mergers and Acquisitions. Dr Carmen Cox (PhD, Tourism Marketing) teaches across both hotel management and marketing subjects. Dr Lisa Gowthorp (PhD, Sports Governance) teaches across both sport management and marketing subjects.

The School also has several Honorary Adjunct faculty who are typically highly esteemed, former members of faculty who still wish to contribute to the School on a voluntary basis. These individuals contribute to the school in various ways such as providing research mentorship, giving guest speaker presentations to classes and/or participating in School events. At the time of writing, five positions are held as follows: • • •

•

Adjunct Honorary Professor Cynthia Fisher (former Professor of Management) continues to coresearch with BBS colleagues and provides informal mentoring to several junior faculty. Adjunct Honorary Associate Professor Rod Falvey (former Professor of Economics) maintains research collaborations with BBS faculty members. Adjunct Honorary Associate Professor Michael O’Neill, an equities analyst and portfolio manager at Investors Mutual Ltd, has delivered presentations to the School’s internal and external communities based on his research on volatility modelling and forecasting, state-price density analysis and analysis of supply and demand for volatility. Adjunct Honorary Assistant Professor Francesco Cangiano (former Assistant Professor of Management who departed for the UK in late 2020), continues to collaborate on research programs with BBS faculty. Adjunct Honorary Professor Bruce Vanstone (former Associate Dean, Research who left the School in April this year to relocate to the UK), continues to research with BBS faculty and research higher degree students.

Another cohort of Non-Core Faculty delivers subjects in Japanese as part of the BBT Global Leadership MBA. They are recruited in consultation with BBT University, with final approval required by the Bond Program Director. They include academics from larger public Japanese universities as well as experienced practitioners. Dr Kenichi Ohmae, the President of BBT University, the author of four books on strategy and the CEO of McKinsey and Co (Japan) for over two decades, is a significant contributor and directly teaches the compulsory course in Corporate Strategy. In summary, the overall strengths and weaknesses of the Faculty are as follows:

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•Highly qualified faculty, both academically and professionally

Faculty Strengths

•An actively engaged group of junior faculty (Senior Teaching Fellows and Assistant Professors) who should be supported to develop their academic careers •A very committed group of non-core faculty who enhance the industry connectivity of the School and its programs while also delivering a highquality standard of teaching.

Multi-disciplinary - ena

•A significant proportion of faculty are in the later stages of their academic career and while they are currently actively engaged in most aspects of the School, we need to be aware that some may consider changes to their work arrangements in coming years. •There is an under-representation of female faculty members at the more senior levels.

Faculty Weaknesses

•Many faculty are not experienced in the design and delivery of microcredentials. Given the University’s initiative to move into microcredentialling, the School should consider other ways of resourcing the development and delivery of these if core-faculty do not have the required expertise to do so. •With some very recent faculty resignations this year, several gaps exist in core faculty (e.g., management, entrepreneurship, finance, data science) which we are currently in recruitment phase for.

4.4

FACULTY MANAGEMENT SYSTEMS

The School manages all Faculty related matters in accordance with the University’s Human Resources Policies. These provide guidance on a range of issues including recruitment and selection of staff; conditions of employment; workplace health and safety; staff performance; professional development; promotion; and remuneration. The School enjoys the support of the University Office of Human Resources. The Executive Dean oversees the School’s academic faculty in terms of ensuring the overall portfolio of faculty aligns with the needs of academic programs and other key priorities for the School within the allocated budget. As outlined in Chapter 1, the Executive Dean is supported by a team of Associate Deans, several of whose portfolios require direct management of faculty issues as follows:

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Associate Dean (External Engagement)

Associate Dean (Learning & Teaching)

Assoc Professor Lisa Gowthorp

Associate Professor George Hrivnak

Identifies key faculty whose skills and interests align with new initiatives identified by the School.

Liaises with faculty to ensure the School continues to develop its partnerships with the business community.

Monitors teaching performance and identifies areas where staff may benefit from further development.

Associate Dean (Research)

Associate Dean (Student Affairs and Service Quality)

Associate Dean (Development) Professor Barry Burgan

Professor Robert Faff

Assoc Professor Marcus Randall

Mediates between staff and students, when student complaints are received, or academic integrity issues are identified by staff.

Oversees staff performance against the School’s Research Active policy.

Associate Dean (Faculty) Assoc Professor Carmen Cox

Provides oversight of academic staffing and human resources matters.

The role of Associate Dean (Faculty) was created in late 2019. The more detailed responsibilities of this role include ensuring performance reviews and assessment of professional development needs of staff are undertaken in accordance with University Policy; assisting the Dean with academic staff recruitment; staff onboarding; and future workforce planning. The role works in consultation with the other Associate Deans to resolve faculty issues associated with their portfolios. The Associate Dean (Faculty) is available for staff to discuss general workload issues. Staff with concerns about the various strategic demands placed on them, can discuss these with the Associate Dean (Faculty) if they do not feel in a position to do so with the Associate Dean who has direct responsibility for the portfolio in question. Ultimately, however, our small scale and the culture we aim to establish encourages faculty to discuss matters with those individuals directly in the first instance. The Associate Dean (Development) and Associate Dean (Faculty) assist the Executive Dean with the general management of faculty and their Professional Development Review (PDR) process. Each member of staff reports directly to one of these three roles as shown below:

Executive Dean

Professors

Associate Dean (Development) Associate Professors

Assistant Professors Senior Teaching Fellows

Associate Deans

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4.5

FACULTY RECRUITMENT AND INDUCTION

RECRUITMENT PROCESS When the need for new faculty is identified, the School works with the Office of Human Resources throughout the recruitment process. All recruitment activity is governed by the University’s Recruitment and Selection Policy. Position descriptions are developed within the School. While specific requirements differ across roles, the common criteria against which applicants are judged are depth and quality of experience in learning and teaching; quality of research and synergies with the School’s core research areas; connection with industry and external stakeholders relevant to the discipline; and level of qualifications for the role. All positions advertised highlight the School and University’s emphasis on equal employment opportunity. Positions are advertised domestically and internationally through the Office of Human Resources. When appropriate, current members of faculty within the relevant discipline also circulate the position announcement on their relevant academic edistribution networks. In recruiting, the School is able to attract high quality candidates due to: • • • • • •

Its reputation for delivering a high-quality business education delivered through small-sized classes. Its strong partnerships with industry. The entrepreneurial ethos of the University. The School’s leadership in research and teaching in data analytics. Competitive remuneration within the Australian context. The School’s location on the Gold Coast – an actively sought tourism and residential location in Queensland.

When assessing applicants, a qualified selection panel is formed which includes either the Dean and/or the Associate Dean (Faculty), one additional member of the School’s Executive group, one or two academics with specific discipline expertise and a representative from Human Resources. The selection panel independently assess each applicant’s merits against the key selection criteria and then meet collectively to identify a shortlist of candidates who then proceed to interview. In person interviews are preferred, however during 2020, when travel was prohibited due to border closures, some interviews were conducted online via Zoom. The interview process also enables the panel to explore the behavioral and cultural fit between candidates and the School. When candidates are interviewed on campus, they are provided with a full campus tour and the opportunity to speak with key members of staff in their respective areas which enables them to gain a sense of how the School and University operates. Once the selection panel has identified their preferred candidate/s, an offer of employment is made. Remuneration is determined by the University’s salary guidelines. Determination of the rank of appointment is typically made based on depth of prior experience relevant to the role and level of academic qualification.

INDUCTION AND ORIENTATION OF FACULTY The School inducts and orients new staff using a combination of University and School level processes. The University’s Induction Program provides several modules for new recruits about the institution’s history and mission; its work processes, professional development processes; and a range of other support services available. The program is run on campus several times a year and can also be completed online. Within the School itself, new faculty members are oriented by relevant staff and faculty members. A series of introductions are arranged with the Executive Dean and relevant Associate Deans along with other members of the Faculty. As outlined in section 4.4, each new Faculty member has an assigned manager who supports EQUIS Reaccreditation Report – 2021

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them as they commence employment. This person monitors the work performance of new faculty (in consultation with the relevant Associate Deans) throughout the probation period and subsequent annual professional development reviews. Additionally, each Associate Dean provides new Faculty with guidance on key priorities and expectations of their portfolio. In the Learning and Teaching portfolio, the orientation process is further supported by a Learning and Teaching Guide which all new faculty receive outlining the School’s expectations, processes and requirements associated with teaching. New faculty are required to complete the University’s teaching development course (unless they have completed an equivalent elsewhere).

4.6

FACULTY APPRAISAL, REVIEW AND PROMOTION

PERFORMANCE REVIEW AND APPRAISAL All new faculty undergo a probationary period at the commencement of their employment. The period of probation for faculty employed on fixed term contracts of one year or more is typically six months as stipulated in the University’s Academic Staff Probation Period Policy. The probation period enables the School and the faculty member to establish whether there is an appropriate match of skills and behaviors required for the role.

REVIEW OF TEACHING PERFORMANCE To assess performance and identify development needs in learning and teaching, the School uses the University’s online student evaluation process which is undertaken for each subject taught by all core and noncore faculty in the final weeks of semester. The results of these evaluations are reported directly to the faculty member and the Associate Dean (Learning and Teaching) who subsequently monitors overall teaching performance within the School. Where issues requiring further development are identified, the AD (L&T) typically discusses these directly with the faculty member and provides guidance towards resources to improve performance. Where such issues become an ongoing concern, the AD (L&T) then raises the matter Formal and informal appraisal of faculty occurs with the Associate Dean (Faculty) and/or the faculty’s through: direct line manager, as appropriate, for further • Semesterly student evaluations of faculty discussion with the faculty member. Such ongoing issues teaching performance are also embedded in discussion at the more formal • Annual Research Activity Reporting Professional Development Review (PDR) which occurs on • Annual Professional Development Review an annual basis. In extreme circumstances where (PDR). performance issues have not been addressed, faculty are • Meetings with an allocated manager required to commit to a formal Learning and Teaching Development Plan which is established under the guidance of the Associate Dean (Learning and Teaching). In addition to the formal teaching evaluation process, the University has more recently launched a structured Peer Evaluation of Teaching program. This is a voluntary system which provides faculty with the opportunity to gain valuable peer review feedback on their teaching to supplement student evaluation feedback.

RESEARCH PERFORMANCE MONITORING Research performance is monitored by the Associate Dean (Research) and/or Research Manager. All faculty employed on the School’s standard 40:40:20 workload model are expected to be classified as Research Active based on School definition. The School has a structured research incentive scheme that provides a financial EQUIS Reaccreditation Report – 2021

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reward to faculty for research publications that meet the School’s preferred journal criteria. Except for faculty with a significant management role, faculty who are employed at professorial levels who are not classified as Research Active are required to complete a Research Development Plan. This requires them to identify goals to be achieved to attain research active status and to gain development support as required to achieve such goals. Further details about this plan are provided in Chapter 5.

ANNUAL PROFESSIONAL DEVELOPMENT REVIEW The School conducts an annual Professional Development Review (PDR) for all core faculty as required by the University’s Academic Staff Performance Appraisal and Review Policy. This review occurs between January and March. Faculty complete two sets of review documents which require them to: (1) Reflect on their performance in teaching; research; and service against agreed goals set for the previous year. (2) Establish performance goals for the upcoming year; identify personal learning and development needs; and consider their overall career objectives. Faculty complete these documents online prior to meeting with their manager to discuss key priorities for their career and the School’s expectations of them. Where performance issues have been noted through the mechanisms previously discussed, the review will require the faculty member to commit to goals to address the performance issues identified. All core faculty complete their review with their relevant manager based on the reporting lines shown in section 4.4. Since the last accreditation period, the School has included Senior Teaching Fellows, who were not previously required to undergo review, within the PDR process. This has been a valuable addition as this group of corefaculty contribute significant teaching expertise to the School’s programs and the majority are enrolled in PhD programs, so planning for their future career development is critical. Non-core staff do not undergo a formal annual review. As these staff are employed on teaching only contracts on a semesterly basis, their performance is monitored through the semesterly student evaluation system and the Associate Dean (L&T) communicates any issues of concern to them directly.

PERFORMANCE MANAGEMENT With rare exceptions, any performance issues raised with Faculty through the processes outlined above are suitably addressed. The School prides itself on providing a high performing environment and most faculty strive to always meet or exceed expectations. On the rare occasion that significant performance issues becoming an ongoing concern, a faculty member may be managed under a Performance Improvement Plan (PIP). This process is managed by the faculty member’s manager in conjunction with the Office of Human Resources. The goal of the PIP is to set out a range of activities the faculty member should undertake and deliverables they should achieve in a specified timeframe to reach the expected performance levels of the School.

FEEDBACK FROM FACULTY The PDR process offers one of several opportunities for faculty to provide feedback on the School’s work environment, their workload and/or the general direction of the School. More typically however, faculty provide feedback informally to the Dean and/or Associate Deans as the need arises. Our small scale and collegial environment facilitate this. Other forums where faculty can raise issues or ask questions include the Dean’s ‘State of Play’ address which occurs once every semester and our less formal all-staff morning teas

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which are held fortnightly. More formally, faculty are given the opportunity to provide feedback on the School’s Strategic Plan during the relevant planning cycle.

PROMOTION PROCESS The School provides opportunities for promotion of faculty through the annual promotion round in accordance with the University’s ‘Academic Staff Promotion within Professorial Levels Policy’. Faculty can apply for promotion to the next level through one of the following streams:

Research Intensive

Research Emphasis and Teaching

Teaching Emphasis and Research

Teaching Scholarship

Faculty who apply for promotion must first complete their annual PDR and discuss their case for promotion with their reviewer and subsequently seek the Executive Dean’s endorsement. The application requires a rigorous reflection on accomplishments, submission of a Teaching Portfolio and nomination of the required number of independent and external referees. When applying for promotion, faculty often choose an informal mentor who, as a more senior academic within their discipline, provides input on their application prior to its submission. Faculty can also seek input from their direct manager and/or relevant Associate Deans. From 2021, the Faculty also has a nominated ‘Faculty Promotion Advisor’. This role supports faculty to navigate through the promotion process and provides advice on addressing the promotions criteria and how to structure an application to ensure maximum impact. The Faculty Promotion Advisor is familiar with the Academic Promotions policy and procedures, criteria documents, and the workings of the Promotions Committee. All applications are considered by a University wide promotions committee comprised of one member from each of the four faculties and an external member. The committee is chaired by the Provost. The committee’s recommendations of successful applicants are referred to the Vice-Chancellor for final endorsement. The number of promotion applications and the rate of success of faculty is shown in Figure 4.2. Overall, 58% of promotion applications were successful in 2018-2020. Unsuccessful promotion applications are provided in person feedback by the Provost, and from the Faculty Promotion Advisor. They are entitled to apply again in two years on having addressed the issues which limited their success.

Number of Applications

Figure 4-2: Faculty Applications for Promotion, 2018 - 2020 7 6 5 4 3 2 1 0

2018

2019 Total Applicants

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Number Successful

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4.7

FACULTY WORKLOAD MANAGEMENT

As noted in section 4.1, most core-faculty workloads are allocated on a 40:40:20 model of teaching, research, and service. The standard subject allocation for core faculty across the professorial levels is four subjects taught across two out of three semesters a year. Core faculty have historically had one semester per year without teaching duties to enable them to focus on research and curriculum development. Teaching and Senior Teaching Fellows are typically employed under one year fixed-term contracts which require them to teach seven subjects a year across all three semesters, or six subjects for Fellows who are undertaking a research degree. Their contracts are based on a 70:30 teaching and service model and provide for one semester of non-teaching every two years. They undertake an on boarding process consistent with core Faculty workloads changed considerably during 2020 with all core-faculty required to teach one additional subject. In conjunction with this and based on the University’s directive as part of its pandemic response, nonteaching semesters were cancelled in 2020 and this remains in 2021. The impact of higher teaching loads and the cancellation of non-teaching semesters has resulted in most faculty devoting considerably less time to research. The School and University acknowledges that this is not a sustainable situation in the longer term. It is important to note, that despite high teaching loads, several core-faculty still sustained a high level of research productivity during the year.

TEACHING WORKLOAD Faculty workloads are managed transparently through the School through several processes. From a teaching perspective, the Associate Dean (L&T) manages the allocation of subjects to faculty members. While this has traditionally occurred on a semester-by-semester basis, an annual planning cycle has been adopted more recently to allow for more forward planning for both faculty and the School. Each member of faculty is allocated the number of subjects they are required to teach within their annual workload. Given the small scale of the School, most subjects are taught by one ‘lead educator’ who holds responsibility for all subject development, delivery, and administration. Subjects with larger enrolment numbers are split into multiple streams with each stream considered as one subject. These subjects may be allocated to a single or multiple faculty member/s. When workload concerns arise, the Associate Dean (L&T) works with the Associate Dean (Faculty) to identify changes that may be required to ensure faculty have a manageable workload. To ensure faculty have sufficient time to engage in non-teaching activities, timetables are designed to ensure each faculty member has at least one non-teaching day per week. This aligns with the standard workload model which allows for one day per week (i.e., 20% of workload) for faculty to engage in ‘service’ to the School which generally involves community engagement activities, administration and other duties that align with School’s priorities. In response to the current situation, whereby faculty are teaching more subjects than their normal load and are delivering content in the multi-modal format described in Chapter 2, a cohort of Assistant Teaching Fellows are now employed on semester contracts to support the delivery of classes to students studying remotely online. These staff are generally allocated to support faculty who have larger classes with a significant proportion of students enrolled remotely who attend classes online. The Assistant Teaching Fellow role attends the on-campus class with the lead educator but focusses primarily on maintaining communication with the online students during class. They moderate the online chat sessions used by remote students to ask questions and seek clarification during class. The introduction of this new role in late 2020 has assisted our lead educators with management of the volume of student support required during the semester.

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RESEARCH WORKLOAD While research workload is generally self-managed by Faculty, the School normally provides all professorial level faculty with one non-teaching semester per year and Senior Teaching Fellows can apply for one non-teaching semester every two years. While the University’s pandemic response prohibits nonteaching semesters at present, the intention is that these will resume at a time yet to be determined. This is critical to the research performance of the School and its faculty members. Where a faculty member has a significant research project which has received external funding that allows for funds to be used to cover release from teaching, the School endeavors to support this through the buy-out of teaching.

SERVICE WORKLOAD

Dr Libby Sander (Management) was able to use funding from an Industry Connections Grant on ‘The Effects of Acoustic Treatment in Open-Plan Offices on Psychophysiological and Cognitive Responses to Noise and Distraction’ to buy out her teaching for January (2021)

Dr Danny O’Brien (Sport Management) and Dr Rajat Roy (Marketing) were awarded a semester’s teaching release under the University’s Academic Extended Research Leave program in 2019 and 2020, respectively. Dr Roy’s leave was postponed due to the pandemic but will be taken in 2022

All Faculty are required to provide service to the School which may take the form of participating in key high school recruitment events and activities; attending meetings with industry partners; attending University events; representing the School on various committees within the University; representing the School at industry events; and/or taking on specialized projects within the School. Many faculty voluntarily opt to participate in such initiatives, but on some occasions, individuals may be asked by the School’s Business Director or the Dean or Associate Deans to contribute their time towards these service activities. In summary, a balanced approach to the allocation of faculty workloads is normally applied to ensure members can engage in all aspects of their academic roles. Without doubt, the changes to workload experienced in 2020 and 2021 have resulted in a feeling of work overload by many faculty. The School has consequently tried to minimize requests for faculty to undertake service activities which are not considered critical at the current time.

4.8

FACULTY DEVELOPMENT

The School is fully committed to ensuring the ongoing professional development of its faculty. This commitment is formally embedded within the annual PDR process which requires faculty members to demonstrate the training and development activities they undertook in the previous year. While many of the professional development opportunities available to faculty present no cost to the School, approximately 6% of the School’s salary budget is spent on faculty development for teaching and research. A range of support initiatives are in place, at both University and School levels, to provide opportunities for faculty to continue to develop their teaching, research and professional expertise as follows:

RESEARCH DEVELOPMENT The University’s Office for Research Services (ORS) offers a range of professional development workshops and other resources to support faculty at all stages of the research spectrum, including: •

How to identify and apply for research grant funding opportunities.

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• • •

Submitting applications for ethics approval. Developing research higher degree supervisory capacity. Managing one’s own research profile.

ORS also oversees the University’s’ Academic Extended Research Leave Program (AERLP). The AERLP is intended to allow faculty to enhance progress on specific research projects and focuses on research outcomes. It consists of one additional non-teaching semester where an academic is released from teaching and administrative duties to focus on research and scholarly activities. The program is equivalent to a sabbatical program and, except for the present time when travel is not feasible, encourages faculty to travel domestically or internationally to further develop key research collaborations. The School’s Research Manager regularly communicates these opportunities to faculty. These can also be accessed through the ORS website. The University also holds an annual ‘Research Week’ which provides a series of on campus and virtual seminars that provide further opportunity for research development. The School supplements the University’s mechanisms to support the research development of faculty through delivery of its own Research Seminar Series. Seminars are held on a fortnightly basis during the University’s’ common non-teaching time (i.e., 12-2pm every Wednesday). All Faculty and research students are required to attend. The series provides an opportunity for faculty to share their research activities with colleagues and gain valuable feedback on their work. The School’s approach towards the funding of faculty research has shifted considerably since the last accreditation period, in alignment with the general research environment across Australia. Unlike previous years where an allocation of funding was available for all faculty regardless of research productivity, the School now allocates funding based on research outputs achieved. As detailed in Chapter 5, an incentive scheme rewards staff with higher levels of funding for successful publication in the School’s preferred journals (i.e., typically A* or A rank journals as defined by the Australian Business Deans Council). Faculty who receive this funding can use this to attend domestic or international research conferences as a further opportunity to develop their research capabilities. Funds may also be used for other research training and development programs, subject to the approval of the Associate Dean (Research). Professional development expectations are embedded in the annual review process. To maintain the minimum expectation required for Faculty to maintain the status of “Accomplished Teacher” at least 10 hours of professional development in learning and teaching must be completed each year. Faculty also identify their personal learning and development goals for the forthcoming year during the PDR process. Similarly, research development goals are nominated and progress towards these is monitored through the same process.

LEARNING AND TEACHING DEVELOPMENT With the School’s mission focused on the delivery of a high touch, innovative and engaging learning environment for students, significant opportunities are available for faculty to continue to develop their expertise in learning and teaching. All faculty are required to meet as a minimum the thresholds to be designated an “Accomplished Teacher” which includes participating in at least 10 hours of internal or external teaching development each year (and this is discussed in the PDR process). The Office of Learning and Teaching (OLT) provides an extensive range of training and development opportunities for faculty. These are regularly communicated to faculty via the OLT SharePoint site and are also promoted by the Associate Dean (Learning and Teaching). As noted in Section 4.6, the OLT also manages the Peer Review of Teaching program which provides the opportunity for faculty to identify areas for further development in their teaching. In addition to these initiatives, a dedicated Technology-Enhanced Learning Officer supports members of the

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School by providing individual consultations on a variety of matters related to the use of our learning and teaching platforms. Professional development was critical to support faculty during the covid19-pandemic. As the University pivoted rapidly to fully online delivery in May semester last year, all faculty participated in OLT’s PreparePractice-Plan online training program which provided the opportunity to test approaches to online delivery before the commencement of semester. Over a three-week period, approximately 8 hours of online training in the use of technology-enhanced learning tools was provided. This support continued throughout 2020 and into 2021, shifting to upskilling faculty in how to teach effectively in a multi-modal format from September semester. The quick transition to online delivery was well received across the School’s programs overall in 2020. The rapid upskilling of faculty has resulted in new opportunities in learning and teaching that positions the School well to cater to the needs of students who prefer to study online. While feedback from students generally demonstrates their desire for on-campus classes wherever possible, the School’s capacity to deliver more flexible, technology enhanced learning has been greatly enhanced over the past year. At the School level, faculty are also provided with the opportunity to attend Learning and Teaching Development Workshops which are normally convened fortnightly. Speakers from within the School and other relevant units within the University (e.g., OLT, Library, Career Development Centre) provide Faculty with information about various systems, processes, and initiatives in place to support the development of learning and teaching (details provided in Appendix 4.2). A regular feature of the series is the presentation of workshops on case study-based teaching and case writing, which is a key strategic priority for the School.

MAINTAINING CURRENCY WITH INDUSTRY PRACTICE All Faculty are expected to keep pace with the latest issues and practices in their relevant professions to fulfil their subject development responsibilities. The School facilitates opportunities for Faculty to network with business practitioners in the following ways: •

•

Participation of Faculty in industry engagement events including the Bond Business Leaders Forum, Business Links events and Research Week program. Details of these events are provided in Chapter 10. Maintenance of industry association membership by Faculty. •

• • • •

Dr Mike Raybould (Associate Professor, Tourism Management), who conducts research on environmental economics in Coastal Tourism Regions, is a Member of the Science and Innovation Advisory Board, Gold Coast Waterways Authority. Accounting faculty are almost all members of the CPA or Chartered Accountants (ANZ), as well as Dr Simone Kelly (finance discipline). Professor Barry Burgan is a member of the Australian Institute of Company Directors. Dr Julia Henker is CFA qualified and the core liaison for our CFA program partnership.

Supporting Faculty who identify suitable professional training they wish to undertake through relevant industry associations to stay updated with current business practice.

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•

• •

•

Encouraging Faculty to speak on their areas of expertise at industry forums, conferences and other events attended by the business community. •

Dr Adrian Gepp (Associate Professor, Data Analytics) delivered presentations to the Association of Certified Fraud Examiners ACFE (Brisbane Chapter); the IEEE Computational Intelligence Society (QLD chapter); The Push: Brisbane Entrepreneur Community event; the Australian and NZ Intensive Care Society Critical Care Datathon; and the Queensland Police fraud and cybercrime symposiums. Mr Dean Earea (Senior Teaching Fellow, Finance) presented insights into the use of Bloomberg at Bond University, at the 2018 Bloomberg for Education Conference in Sydney. The session was designed to provide insight into how universities could incorporate Bloomberg into their subject material and assessment items. Dr Colette Southam (Associate Professor, Finance) presented her co-authored work on Embedding Sustainability into Corporate Financial Decision-Making at the De Beers Annual Sustainability Conference, in 2018 in Johannesburg, South Africa.

•

Dr Anthony Erickson (Associate Professor, Management) attended the Gallup Strengths Training Program in 2019 and is now a qualified strengths coach. He has adopted principles gained through this training into his teaching practices.. Dr Tim Hasso (Assistant Professor, Accounting) completed a class on Machine Learning through Coursera during 2020. He plans to integrate content into a relevant accounting subject. Dr Carmen Cox (Associate Professor, Hotel Management) completed the American Hotel and Lodging Association’s Certification in Hotel Industry Analytics. The course provided insight into the use of Smith Travel Research data, which has subsequently been embedded into student learning in the subject Strategic Pricing and Revenue Management

Many faculty also maintain their industry relevance by inviting guest speakers from business to present to their classes on topical issues. •

Dr Simone Kelly (Associate Professor, Finance) runs a simulated corporate finance board room in one of her subjects which involves bringing outside corporate directors into classes who act as the visiting chairman of the Board as part of an authentic assessment undertaken by her students.

The maintenance of faculty connections to current business practice is critical for the School, its students, and its programs. Students benefit through the opportunity to learn via an industry informed curriculum. The connections which many faculty maintain with their industry networks, also provides opportunities for students to undertake internships or work experience. The School plans to continue its core faculty development initiatives, as outlined in this section, for the future development of its faculty. A key priority for the future is a focus on student (and staff) well-being given the ongoing uncertainties faced due to the pandemic and associated changes to modes of learning and teaching. An additional focus will be on developing faculty’s understanding of how microcredentials fit within the School’s program offering and how to design and deliver an effective microcredential offering.

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4.9

INTERNATIONALIZATION

Faculty members have several international linkages through birth, nationality and/or previous employment. As noted in section 4.1, while the majority of core-faculty are deemed to be Australian based on their passport status, 47 percent (i.e., 21 faculty) were born overseas. Over the last three years, three new faculty have been appointed from overseas. Dr Justin Craig, Professor in Entrepreneurship & Family Business, was based in the USA and Dr Rand Low, Associate Professor in Actuarial Science, had also been working in the USA. While both of these faculty members are Australian nationals, they had spent several years working overseas prior to their return to Australia to take up their current positions. Assistant Professor Tracey Zalk, an actuary from South Africa, is currently trying to gain entry to Australia to take up her position. The School also maintains international linkages with some former faculty members who have subsequently left Bond to relocate overseas. An example includes the appointment of Dr Francesco Cangiano as Honorary Assistant Professor who left the School in late 2020 to relocate to the UK to be closer to family. Dr Cangiano now works for the University of Exeter and continues to engage in research with core-faculty in the School. BBS FACULTY ARE CULTURALLY DIVERSE: • They originate from countries including Canada, China, Czech Republic, Germany, India, Italy, New Zealand, Sweden, England, Scotland, and USA. • Several faculty are bilingual - speaking Bengali, Cantonese, German, Hindi, Italian, Mandarin, Russian or Swedish. • 41% of faculty have worked outside of Australia.

In summary, the School contains an adequate mix of international vs domestic faculty and supplements this via strategic partnerships with key international professors. While the current international travel restrictions make it difficult to recruit new faculty from overseas, opportunities to secure a travel exemption for one new appointment who is in the UK are currently being explored. With additional academic positions to be filled in 2021, our intention is to continue to advertise both domestically and internationally, with our goal to further internationalize the profile of faculty.

4.10 ETHICS, RESPONSIBILITY AND SUSTAINABILITY A detailed overview of how the School has embedded ethics, responsibility and sustainability into its operations is provided in Chapter 9. The School integrates ethics into all programs and is encouraging research in the areas of ethics, responsibility, and sustainability. Faculty are aware of the University’s expectations regarding ethical and responsible practice through a range of policies, some examples of which include responsible code of conduct; research ethics; student wellbeing and safety; and sexual exploitation, abuse, assault, and harassment. The School integrates ethics, responsibility and sustainability into faculty training and development in the following ways: • •

• •

All faculty who engage in research and supervise higher degree students are required to complete Research Integrity Training Dr Rafi Chowdhury, Associate Professor (Marketing), oversees the School’s membership of the UN’s Principles of Responsible Management Education (PRME). Rafi’s research expertise is in ethical consumption, consumer social responsibility and marketing/advertising ethics. He delivers seminars to staff each year on ethics related issues as part of the School’s research seminar series. Dr Libby Sander, Associate Professor, Management is the School’s representative on the University Sustainability Committee. All staff undertake mandatory training in Workplace Health and Safety.

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•

The University is engaged in SAGE (Science in Australia Gender Equity). The Athena SWAN Bronze Award, a gender equity accreditation and evaluation process, was piloted by the School in 2017/18. This process identified the positioning of the University in gender equity performance within the University as it pertains to students and faculty.

As outlined in section 4.7, community engagement is valued and assessed as part of a faculty member’s service load. Additionally, several faculty are engaged in various community volunteering roles including: • • • • •

• •

Gary Bowman is Founder and Director of FreddyMatch, a technology-based charity that matches volunteers with organizations. Mark Brosnan volunteers for the Bonogin Valley Rural Fire Brigade. Lisa Gowthorp is a member of the Board of Uni Sport Australia and volunteers at the Local Sporting Champions program. Jan Hollindale was Chair of the CPA Australia (Gold Coast) from 2018 – 2020. George Hrivnak and his family established a family charity ‘SuperMax & Bryce’ which serves children with cancer and blood disorders in Australia and New Zealand. George is also a member of one of the local Lions Clubs. Simone Kelly is Chairperson of Meals on Wheels (Broadbeach). Colette Southam volunteers for the Make A Wish Foundation. She is also Treasurer of Miami Masters Swimming.

4.11 CONNECTIONS WITH PRACTICE As detailed in Section 4.8, faculty are actively engaged with the business community. A detailed description of faculty engagement with the corporate world is provided in Chapter 10. Involvement in Executive Education is a recent initiative within the School as outlined in Chapter 6. One such activity was the development of the ‘Business Now’ series (see Chapter 10 for details) in which 8 faculty participated. The Transformer, and the Centre for Data Analytics provide significant opportunities for enhanced corporate engagement by individual faculty, in the context of facilitating applied research projects (Chapter 5), networking events (Chapter 10), and the visits of corporates to the classroom. All faculty have opportunities to engage with industry professionals in various ways including: • •

• • •

Practicing managers or professionals are often invited to deliver live or Skyped guest lectures in the classroom. Approximately 40 percent of faculty have industry speakers visit their classes. A formal structure exists for encouraging industry involvement in the classroom through the University-wide Beyond Bond requirement of undergraduates, and Business faculty are at the forefront in this program (see Chapter 3). The Centre for Data Analytics was established to forge stronger faculty engagement with business organizations through strategic research partnerships. Where relevant, selected faculty members attend meetings with industry advisory boards. The School hosts Business Links, Bond Business Leaders Forums, and Titans of Industry Forums each year, at which high profile speakers and business professionals mix with faculty members and students (see Chapter 10).

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•

Individual faculty members are often invited to address professional or industry bodies, attend corporate events and supervise student internship placements in industry. Examples of faculty who have presented to industry groups were provided in Section 4.8.

INDUSTRY PRESENTATIONS: • Dr Tim Hasso (Assistant Professor, Accounting) and Dr Keith Duncan (Professor, Accounting) presented to an Australian offshoring company about the State of Play and Critical Success Factors for Offshoring of Accountancy Services. • Dr Libby Sander was invited to write an article for the Harvard Business Review online. She was also invited as an Agenda Contributor at the World Economic Forum and an Editorial Advisory Board member of the journal Work & Place. She has been an invited speaker to the Committee for Economic Development Australia, the 2020 New Zealand Workplace Strategy Summit, the National Employment Solutions conference, the Audiologists Association of Australia, Lendlease, the Gold Coast 2018 Commonwealth Games Corporation and the Intelligent Cities Conference.

Although few do, choosing instead to focus their industry research engagement through funded research, members of Faculty can engage in consultancy work within the guidelines of the University. A Research Consultancy Policy (TLR 5.02) is used to regulate these activities. Core staff may spend up to the equivalent of one day per week, or a maximum of 48 days per year, on consultancies. The Executive Dean has the discretion to vary this under exceptional circumstances.

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5 5.1

RESEARCH STRATEGIC CONTEXT - RESEARCH WITHIN BOND BUSINESS SCHOOL

The School recognizes the importance of high-quality research and is cognizant of the benefits that maintaining a high quality research profile brings. This is also set in a national context in which Australian business schools that sit within universities are not only required and expected to undertake academic research, they are publicly rated on the outcomes under the system of Excellence in Research Australia (ERA). The Australian Research Council regularly collects information on research outputs of universities and rates the university for each field of research on a five point scale of well below world standard to well above world standard. All business schools focus on outcomes and aim for sufficient rankings because this impacts on public perception on the quality of a school. The ranking mostly depends on publishing in high quality academic journals. In the last ERA, 2018 as year of record, the School achieved a rating of ‘at world’ standard’ for Business and Management. To be eligible for ERA ranking the School had to produce at least 50 publications within a field of research in the preceding six years. It should be noted that such a significant threshold is a major challenge for a small enterprise like BBS. The School values academic, practice-oriented and pedagogical research across all disciplines. The School has a strong historical emphasis in Business and Management research, and it has been recently building significant research capacity in the Data Science and Business Analytics space. All faculty members are supported in their focus on the impact and quality of research through the workload model. All staff are expected to be research active and have access to time and funding to help achieve this status. BBS has a culture of producing high quality research outputs and has a large percentage of its publications in higher quality preferred journals. BBS treats all ABDC A* and A journals, as well as Q1 journals on Scimago as being preferred outlets for publication. The School seeks to: • • •

Increase the number of high-quality journal articles produced. Increase the quantity and value of grant/income. Disseminate high quality research through teaching, conferences, and the broader community.

The School Strategic Plan (June 2021) outlines the framework for research in the following sections, with the overall framework supported by a specific Research Action Plan. While the research strategies and action plan are broad ranging, a major plank of the last 5 years has been to increase the focus of our research - Supporting and encouraging staff to focus their research activities around each of our three research pillars, namely: • • •

Data Analytics. Entrepreneurship and Family Enterprise. Governance, Accountability & Practice.

The strategy has had substantial success in terms of publications and industry funded research grants – especially in the pillar of data analytics, and BBS has grown the activities of these three research pillars through funding and targeted appointments, with the aim of building additional skills and research opportunities to help further support the development of our researchers.

5.2

THE AUSTRALIAN RESEARCH CONTEXT

Australian Higher Education regulations require a university to be active in research and maintain a PhD program. Government funding is linked to research outcomes, including publications, and on-time EQUIS Reaccreditation Report – 2021

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completions for HDR students. The Australian government also funds several competitive research grant schemes. The ERA (Excellence in Research for Australia) is Australia’s national research evaluation framework, similar to the UK REF and New Zealand’s PBRF, which is tasked with identifying excellence in research by comparing Australia’s research outputs to international benchmarks. The last comprehensive ERA round was in 2018, and the next is currently scheduled for 2023. Outcomes are published by Field Of Research (FOR) codes that approximate discipline groupings, such as Accounting, Economics and Finance. Universities are required to report their research outputs over the previous 6-year period, and a selection of those outputs are subsequently assessed and rated by a panel of experts. The ABDC (Australian Business Dean’s Council) provides and maintains a journal rating list of (mostly) business journals classified into one of four categories - A*, A, B or C, representing the tiers of quality for publications within journals within the FOR codes. The ERA process indirectly takes these rankings of quality into account, along with consideration of research grants, and other academic outputs and esteem measures. Most business schools are not ranked across all discipline areas, as a minimum of 50 research outputs per FOR code needs to be achieved to be ranked. This is a particular difficulty for smaller business schools, which often do not have the weight of outputs required for ranking across a large range of FOR codes.

5.3

PORTFOLIO OF RESEARCH AND DEVELOPMENT ACTIVITIES

RESEARCH OF CORE FACULTY The School’s research and development activities are very similar to high quality international university-based business schools, centered around academic and discipline based research. To increase collaboration and facilitate knowledge exchange, staff are encouraged to align around the three research pillars. Currently, approximately 60% of the School’s research is aligned with our pillars. Details of pillar outcomes are provided in section 5.6 The University promotes a Research Active policy which is tailored to/by each faculty, and the thresholds in the policy are set at the Dean’s discretion. BBS have chosen to set the thresholds in the policy to align with variable expectations around outputs linked to each academic level. The School has a focus on quality over quantity, and the thresholds reflect this. Journals deemed faculty-preferred are those which are A* and A in the ABDC list, or Q1 on Scimago. This provides clear direction to staff that they are expected to focus on quality of outputs rather than quantity.

Table 5-1: BBS Research Active Thresholds PROFESSOR • External Research Income Threshold - €9,300 or greater • Publication Threshold - 3 preferred publications • HDR/Hons Supervisions – At least 2 (One must be primary)

ASSOCIATE PROFESSOR ASSISTANT PROFESSOR • External Research Income • External Research Income Threshold - €6,200 or Threshold - €1,550 or greater greater • Publication Threshold - 2 • Publication Threshold - 1 preferred publications preferred publication • HDR/Hons Supervisions – At • HDR/Hons Supervisions – At least 2 least 1 Note -these requirements have been reduced slightly for 2020-2022 period due to faculty taking on more teaching requirements in response to COVID constraints.

Over the period 2018-2020 faculty have achieved 203 research outcomes of which 131 were Peer Reviewed Journal articles. EQUIS Reaccreditation Report – 2021

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Table 5-2: EQUIS Table 2: Research Output for the Core Faculty over the 3-year Period: 2018-2020 Total Items CoItems Bond Items authored by Research number of Produced University Soleitems in Bond in Collaboratio Activity Contributin authored University n with other Ratio the categor g authors y Faculty Universities

Types of Publications

(Refereed and Non-Refereed) Academic Research Articles

109

Practice-oriented Research Articles

Pedagogical Development and Innovation Articles

Papers presented at academic conferences

Papers presented at professional conferences

Published case studies

Books (e.g. research monographs or compilations)

Chapters (or readings or supplements) in books

203

111

2.79 ( 2.81) 0.46 ( 0.46) 0.10 ( 0.10)

Studies and Reports commissioned by companies and gov't agencies Papers in academic conferences proceedings

0.26 ( 0.26)

Papers in professional conferences proceedings 0.67 ( 0.67) 0.03 ( 0.03) 1

0.18 ( 0.18) 0.03 ( 0.03)

1 1

0.46 ( 0.46)

Textbooks Chapters in textbooks Studies and Reports produced as part of an int'l network

0.23 ( 0.23)

Published Teaching Materials (Manuals / Guides) TOTALS

Doctoral theses completed

Faculty outputs are representative across the major disciplines, with the following as an overall summary: •

• •

66% of the 45 Core Faculty with a balance of teaching and research responsibilities are Research Active. Those who do not mostly meet the publications requirement but currently do not have a research grant or supervise a HDR student. 14% of PRJ’s were in ABDC align journals, 54% in A rated journals, 21% in B’s and 3% in C’s with the remainder of journals non-ranked by ABDC. 83% of the Core Faculty publications are in academic or basic research, 14% are in practice research, and 3% are pedagogic outputs including cases and textbooks.

Faculty are actively involved in several grant-based projects, including academic research, research and development work for improving teaching practice and applied projects.

RESEARCH OF NON-CORE FACULTY The non-Core Faculty includes 5 honorary adjuncts at various levels across the academic hierarchy. Honorary adjuncts have access to both BBS and University resources such as library materials and databases, with the goal of helping them maintain research active status. Honorary adjuncts are active members of the School’s research activities, and their primary roles and responsibilities are: • • • •

Demonstrate academic excellence in scholarship, research and learning assistance. Demonstrate academic leadership by acting as an advocate, promoting long-term development Participate in the development of new research and teaching programs. Evaluate the teaching and research performance of others.

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• • • • • • • • •

Attract and supervise HDR students. Build relationships with industry, government and other institutions. Foster and actively develop research commitment, skills and performance of faculty staff and students. Participate in individual and collaborative research and development activities. Contribute to improved research methodology and the peer review of research. Assist in securing research grants, sponsorships, scholarships, and other support for faculty activities. Represent the School as required. Mentor students, provide career advice and industry and internship contacts. Provide input on curricula and academic programs in an advisory capacity.

Current honorary adjunct faculty who perform these research roles include: • • • • •

Professor Cynthia Fisher Associate Professor Rod Falvey Assistant Professor Francesco Cangiano Assistant Professor Michael O’Neill Professor Bruce Vanstone

HIGHER DEGREE RESEARCH PROGRAMS Within the HDR space, the School offers Doctor of Philosophy (PhD) and Master of Philosophy (MPhil) research programs. During the period 2018-2020, there were a total of 31 commencing HDR students, with 20 PhD and 11 MPhil commencements. These are distributed 61% domestic and 39% international. Over the 2018-20 period there were 14 PhD completions, 5 MPhil students applied and were approved to have their M Phil candidature upgraded to PhD, on the basis that their completed work would be a significant contribution to the body of knowledge, and there was 1 MPhil completion. Of the PhD completions, 5 went onto industry careers, 7 to academic careers, 3 at Australian Universities, 1 each at Bond, Griffith, and Macquarie, 1 at a private Higher Education provider in Australia, and 3 at overseas Universities (USA, Fiji and Jordan). Domestic and International students applying for MPhil and PhD programs are usually attracted to the research specialty of a particular faculty member. Selection criteria are rigorous, as the time invested by both students and academics in a research program is substantial. HDR students are normally admitted as full-time, on campus students, although it is possible to study in part-time mode. In certain circumstances, it is also possible for PhD students to be off-campus. Students in the PhD and MPhil programs are expected to undertake 3 coursework subjects, aimed at helping the student to build up skills in specific areas. These coursework subjects cover topics such as the research process, quantitative or qualitative skills, or can be a subject chosen by the supervisor and student in consultation, such as a course which provides deep skill development in a specific mathematical or statistical technique. These courses are typically substantial semester-long coursework subjects with a formal assessment component.

MANAGEMENT OF RESEARCH ACTIVITIES The Associate Dean of Research (ADR) oversees the Schools research portfolio. The ADR is a standing member of the Bond University Research Committee, chaired by the Provost. The research direction of the School is guided by the School’s Research Management Plan. The ADR represents the School at the Business Academic Research Directors Network (BARDSNet), a biannual meeting of Australian and New Zealand Associate Deans of Research from 31 University Business Schools.

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The role of ADR is supported by a Research Development Manager (RDM), whose role is to assist in the day-today administrative and management issues that relate to research in general, HDR (PhD, MPhil) students, and program matters. The University’s Office of Research Services (ORS) provides central support and coordination for grant funding activities, ethics approvals, and compliance adherence.

RESEARCH FUNDING Most research enabled staff are employed under a 40:40:20 contract, with their time allocated 40% to teaching, 40% to research, and 20% to service. Under this arrangement, the prime source of research value is created through the allocation of research time for Core faculty (funded from teaching revenues), which in 2020 would be indicatively valued at €1.7 million. Direct or specified research funding comes primarily through 2 sources, with the amounts over the last 5 years outlined in the table below. Note that these amounts are not included in the financial statements of the School, as these amounts are managed centrally through ORS. The two sources are: •

•

Funding from Australian Government Block Funding, which is accrued to the University, and subsequently distributed to the School based on research outputs. The School also receives RTS (funding for research students), and some HDR fees. These amounts are shown below, split into operating research funds, and restricted research funds, and average approximately €84,000 per year. This money is usually spent on publication rewards, conference attendance, research assistants, and some miscellaneous research costs (for example, journal submission fees, etc.). Grant income from faculty participating in competitive government and industry funding schemes, averaging €271,412 per year.

Table 5-3: BBS Research Budget 2018

2019

2020

Operating Research funds

€ 56,458

€ 59,210

€ 41,645

2021 (Estimate) € 45,656

BBS controlled - Research restricted

€ 38,156

€ 37,409

€ 20,930

€ 37,200

Total Internal Funds

€ 94,614

€ 96,619

€ 62,575

€ 82,856

ORS controlled - External Research Grants

€ 314,702

€ 383,639

€ 115,894

TBD

Total Research Funds

€ 409,317

€ 480,258

€ 178,469

€ 82,856

For 2021, the University has allocated a budget of €82,856 to support research related activities in the School, and this money is earmarked for: •

Publication Rewards – faculty members receive funding rewards for every high-quality publication they produce. To encourage an emphasis on high quality, several quality tiers and corresponding reward amounts have been defined. These are: Preferred Publications Appear on FT50 list Appear on UT Dallas list Ranked A* on the ABDC list Ranked A on the ABDC list Q1 on Scimago Journal Ranking

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Publication Incentive € 3,720 € 3,720 € 2,480 € 1,240 € 1,240

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This funding can be used by academics to fund conference travel, on-going training not offered at Bond (for example, through the university research training consortiums of FIRN/ADFEN/AFAANZ and ACSPRI), or to fund research assistants or purchase research related materials • •

Attracting high profile visiting scholars Research Centre support ORS further supports the School through funding and personnel to assist researchers develop grant proposals. The School has been actively pursuing joint funding for research projects and PhD student support using grant schemes like the Australian Innovations Connections Scheme, in which industry funding for research is matched by the Australian Government (up to €31K/year for 2 years). The Centre for Data Analytics has been quite successful with this approach, and currently has 5 (Nikki Cornwell - KPMG, Tom Aspinall – de Beers, Mitchell Horrocks - GCCC, Mark Johnman- Rapid Media, James Todd – Health Care Logic) of these partnerships operating, funding HDR students, Research Assistants, and academic supervision time.

5.4

INTEGRATION OF RESEARCH INTO FACULTY WORKLOAD

As noted, research is integrated into workload expectations. A small number of staff have negotiated different compositions, typically to support additional service roles. As table 5.2 shows, total output and composition is carefully monitored. In addition to detailing research outputs during the annual Performance Development Review (PDR), research enabled staff are assessed to ensure they meet the definition of Research Active: Research enabled staff who do not meet the Research Active thresholds are required to complete a Research Development Plan, in which that staff member describes the research activity to be performed over the coming 3year period to enable them to meet the thresholds to become Research Active again. Support is in place for those classified as Early Career Researcher (ECR). ECR staff are those that have received their terminal degree within the last 5 years, and these staff are approved as Research Active on receipt of an RDP. Further staff who have had career interruptions are Dr Tse-Ling Teh. In addition to the research funding rewards described earlier in which staff receive funding for each highquality publication, research enabled staff are granted one full non-teaching semester per year for researchrelated purposes. This has been interrupted by COVID-19. Support is also provided towards recruiting high-quality faculty who can continue to grow the research base of the School, and mentor junior researchers. Examples of these quality hires are: •

•

Professor Robert Faff – Robert Faff is an extremely distinguished finance researcher who is an Emeritus Professor of Finance at the UQ Business School. He has been a Professor of Finance at UQ, Monash and RMIT and started his academic career at ANU. He has been the Director of Research at the UQ Business School, and the departments at Monash and RMIT. He has more than 16,000 citations, more than 340 refereed articles, 14 ARC grants totaling more than €4 million and a h-index of 64. His half time appointment in the Bond Business School has been funded by a Bond University Strategic Initiative, “Expanding Research Leadership”. Professor Steve Stern as Professor of Data Science, and additional faculty in the Centre for Data Analytics. Professor Stern holds a Doctorate in Mathematical Statistics, Master of Science in Applied Statistics and Bachelor of Mathematics from Stanford University. He was previously the Australian Bureau of Statistics (ABS) National Chair. Professor Stern is also the current gate-keeper of the Duckworth Lewis Stern method, which uses big data approaches to set adjusted targets for international cricket matches impacted by rain. This system would be well known to any cricket follower around the world.

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Professor Justin Craig is a Professor of Entrepreneurship, and Director for the Entrepreneurship and Family Enterprise Research Group. Professor Craig has devoted his academic career to the study of entrepreneurial business-owning families and those responsible for their stewardship. He rejoined the BBS faculty in 2019 from the Kellogg School of Management at Northwestern University in Chicago where he was the Director of the Center for Family Enterprises. He investigates many topics, including stewardship, business and family governance, innovation and entrepreneurship, and is particularly interested in highlighting the social and economic impact of family business. Professor Paul Beamish has been a visiting professor over the last three years as part of our partnership with Ivey Business School, and to mentor the School in international business research, and in achieving our targets re case studies. His impact has been highly successful and will be extended for a further three years. He has authored over 60 books and 141 journal articles and 146 case studies. His books are in the areas of International Management, Strategic Management, and Joint Ventures and Alliances. His articles have appeared in Academy of Management Journal, Academy of Management Review, Strategic Management Journal, Journal of International Business Studies (JIBS), and elsewhere. He served as Editor-in-Chief of JIBS from 1993-97 and is on numerous editorial boards. He is a Research Fellow of the Asia Pacific Foundation of Canada. He is recipient of best case writing awards from the European Foundation for Management Development, AIB, and ASAC. He was the founding Director at Ivey of both the Asian Management Institute (1997) and the Engaging Emerging Markets Research Centre (2005). These were both folded into the International Business Institute (2016).

•

To ensure the School attracts high quality MPhil and PhD students from both Australian and International markets, the following incentives are provided: • • • • •

PhD Living Stipend Scholarships - amounting to €17,730 per year for three years. All Domestic HDR students receive a 100% RTP tuition waiver, All International HDR students receive a 75% tuition waiver amounting to approx. € 74,000 for a four year degree, except for self-funded candidates, who are typically those sponsored by foreign governments. Living stipends - historically, around 40% of HDR students receive these stipends. Teaching opportunities - once students have passed their Confirmation of Candidature, most PhD students are employed as teaching assistants. The School prefers to employ HDR students in relevant teaching support roles.

Further, the School has started directly advertising for high-quality HDR students on Seek.com.au, a well know Australian careers website. Via the RDM, academic staff looking for HDR students to work on specific projects can advertise their project to a very wide audience. This approach is a recent innovation at the School, and has been very successful. Currently, 2 projects have been advertised in this way (in Marketing, and Computational Agriculture), attracting 10 quality applications, of which 3 have been accepted as HDR students. The School has also recently signed an international partnership with ISM Dortmund to provide PhD programs to their top quality students. ISM Dortmund is a German business school that Bond is supporting in improving its positioning, through this process of taking its best quality students into a PhD program as they are not able to provide this avenue. Although very recent, this partnership has already begun to deliver, with 3 student applications currently under review. The School also operates several research support and development schemes, such as: •

•

Weekly Research Seminar Series – this is very well attended by both faculty and HDR students, with a total of 12 presentations given during a typical semester. These presentations are given by academic staff looking for conference presentation feedback or collaborations, external visitors and HDR Confirmations of Candidature. Details of the seminar series program are shown in Appendix 5.1. University driven Extended Academic Research Leave Program – successful awardees receive an additional semester and travel support to pursue their research goals. Recently, Dr Danny O’Brien was awarded EQUIS Reaccreditation Report – 2021

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€21,700, to fund an additional semester of research, €12,000 went to buy out Dr O’Brien’s semester’s teaching, while the remaining €9,700 was spent on travel costs. Dr O’Brien travelled to the United Kingdom to collaborate with Dr. Mike Duignan from Coventry University, and then on to the United States to collaborate with Dr. Jess Ponting from San Diego State University. The purpose of this research leave was to combine two areas of research interest (sustainability in sport; and managing organizational change) and produce a pipeline of A/A* publications ultimately leading to a successful Australian Innovation Research Grant application in the next few years.

5.5

RESEARCH OUTPUT

The research outputs from the School cover peer reviewed journal articles, some conference papers, and books and book chapters Specific outcomes being achieved within this context include: • Staff are active participants in international and national conferences, with 47 staff presenting at conferences during 2018-2020 (19 National,27 International). In 2020, the activity levels fell away due to travel restrictions, but some conference involvement was maintained through conferences going virtual. • National and International conferences are also held at and sponsored by Bond University, such as the 2021 ACERE Conference. • Considerable further success in grant funding, with 27 new grants totaling €814,000 obtained during the period 2018-2020. These grants were used to support HDR students and projects, as well as employ HDR students as Research Assistants. School staff have also performed exceptionally well during annual University Research Recognition Awards. The Vice Chancellor presents 3 awards for research performance at a University Level, namely: Vice Chancellors Award for Research Excellence, Vice Chancellors Award for Research Supervision, and Vice Chancellors Award for Early Career Researcher. In the last 2 years, each of the possible awards has been won once by a Business School researcher, specifically: • • •

Vice Chancellors Award for Research Excellence – Professor Bruce Vanstone (2019) Vice Chancellors Award for Research Supervision – Dr Adrian Gepp (2019) Vice Chancellors Award for Early Career Researcher – Dr Gulasekaran Rajaguru (2020) Table 5-2 above presented the research outcomes of the School over the last 5 years using the pro forma from the EQUIS standards. Appendix 5.2 presents 15 articles by School Faculty published during 2018-2020, illustrating the high quality of academic outputs across the discipline areas. It should further be noted that many of the School’s non-Core faculty also contribute to academic and professional journals, with many publishing at least one article in academic and/or professional journals over the previous 5 years.

5.6

IMPACT OF RESEARCH

The majority of core faculty are Research Active and many non-core faculty also publish, and this has a direct impact on the quality of teaching and learning. Several faculty are engaged in academic research directly related to teaching effectiveness and business education with 4 pedagogical development and innovation articles produced over the last 4 years. The School also has a strategic focus on increasing its brand in terms of case study teaching and publication and substantially increased its outputs in this context – as discussed below). EQUIS Reaccreditation Report – 2021

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DISSEMINATION OF RESEARCH FINDINGS The School supports faculty to showcase their research projects to an audience of peers and colleagues both within the School and across the wider academic community of the university through the weekly Research Seminar series. As well as national and international conferences, research findings are disseminated to industry stakeholders and the wider community through events such as the Business Links series (3 presentations per year, sponsored by CPA Australia), Bond Business Leaders Forum (3 to 4 events per year), the Bond Accelerator Demo Days, and the University’s annual Research Week Showcase. Bond University runs a University level Research Week annually each October. As well as University led celebrations of research, the Business School runs its own events, focused on the Business Research Night – an external-focused event whereby industry and the community are invited into the School to hear research seminars, see HDR research posters with each HDR student supported to produce a poster detailing their research, and network with academics. At the last open event (2019), there were 160 attendees, half coming from partners like CPA Australia and other industry groups. Two seminars, each of one hour duration, were delivered on the night covering diverse topics such as the Ethics of Consumption and The Science of Business: Balancing The How with The Why. The event also includes a very popular competition to select the best HDR Research Poster. Feedback from attendees is always very positive, and the event provides substantial opportunities for academics to network with interested industry parties. Faculty are also encouraged to present within their areas of expertise in more general avenues, such as newspaper articles, online academic forums, ‘The Conversation’, and by presenting at professional seminars and events. Bond Business School have recorded 109 press and media reports outputs during the 2018-2020 from 19 faculty across the 2018-20 reporting period, and covering a combination of national and international radio, print media and some TV, as well as social media outlets such as The Conservation. The list of these is included as Appendix 5.3.

DEVELOPMENT AND INNOVATION IN INCREASING IMPACT Following a detailed and consultative, internally and externally, informed process, the School made the choice to focus its research around our three distinct research pillars. Inherently there is some overlap between staff alignment with individual pillars, and, as always, research does not always neatly pigeon-hole into just these categories. For this reason, although all staff are encouraged to align with one pillar, there are some members of staff who align with more than one pillar. Naturally, some publications also follow this alignment. A summary of activity across the three pillars is provided in Table 5-4, followed by a description and more detail on each pillar.

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Table 5-4: Research Outputs – Summary by Pillar Pillar Governance, Accountability and Purpose Enterpreneurship and Family Enterprise Data Analytics Other Total

Grants (€ million)

PRJ's 2018 2019 2020 Total Propn

2018

2019

2020

HDR students Propn Total Propn 2018 2019 2020 (2020 )

23%

€ 0.183 € 0.114 € 0.005 € 0.301

23%

14%

€ 0.000 € 0.000 € 0.000 € 0.000

21 19 46

14 21 48

11 14 42

46 34% € 0.132 € 0.252 € 0.108 € 0.491 37% 54 40% € 0.000 € 0.018 € 0.003 € 0.022 2% 136 100% € 0.315 € 0.384 € 0.116 € 0.814 62%

14 10 26

15 8 27

20 13 42

48% 31% 100%

# The number of PRJ’s is greater than the total in Table 5-2 because it includes publications by non core faculty.

RESEARCH PILLAR 1: CENTRE FOR DATA ANALYTICS The Data Analytics pillar aims to raise the profile of Bond University in the Data Analytics research space. This will help establish meaningful engagement with organizations, both government and private, which is expected to lead to funding opportunities and research collaborations. This pillar represents a major initiative of the School. The Data Analytics pillar began as a School internal research Centre, and its growth and impact has been very impressive – to such an extent that on 29th October 2020, the School Research Centre was upgraded to University Research Centre status, and the key members of the Centre, both staff and HDR students, were moved to premises adjacent to the Business School. The new premises are highly visible on the academic spine, and the building has been signposted as the “Centre for Data Analytics”. The Centre has also in June 2021 Australian Data Science Network (ADSN), a further opportunity to demonstrate the outputs being achieved and build the School’s brand in this area (the Base Room (Chapter 5 folder) includes a presentation by the Centre’s Director in a recent meeting of this network). Although the new Centre is under the direction of the Executive Dean of the Business School, its purpose is broader than just Business Analytics. It will act as an analytics hub for the entire university, and several collaborations with other faculties are already under way, such as a Suicide Prevention project, which is a collaboration with Health Sciences and Medicine faculty (HSM). Research outputs from the Centre over the reporting period 2018-2020 are: • • • • •

46 peer reviewed journal articles in international journals. 27 international conference presentations in internationally refereed conferences. 23 Grants with a value of €491,000. 20 HDR students as at September 2020. Discussions regarding applying academic research to industry projects with external partners such as the Gold Coast Hospital, KPMG, Gold Coast Airport, Mantra Group, Rapid Media, Gold Coast City Council, RACQ, de Beers. A number of these discussions have led on to HDR co-funding either direct, or via pathways such as the Australian Innovations Connections Grants. The Centre has also become a focal point for high quality industry projects, with some of the projects School academics have been involved being:

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•

• • • • • •

€122,800 Australian Innovations Connections Grant for Marketing Analytics with Rapid Media – this funding was used to co-fund PhD student Mark Johnman €93,000 Gold Coast City Council Grant, used to co-fund PhD student Mitchell Horrocks €4,960 UniSport grant, used to employ a PhD student as a Research Assistant €6,200 Youi grant, used to employ a PhD student as a Research Assistant €93,000 KPMG grant, used to co-fund PhD student Nicki Cornwell €124,900 Healthcare Logic grant, used to co-fund PhD student James Todd €37,200 Gold Coast Airport Grant, used to employ HDR students as Research Assistants

“The Research Collaboration Agreement that the City of Gold Coast’s Smart City team has with Bond University is invaluable. The collaborative nature of the work being undertaken is proving to be highly valuable to the City’s work priorities relating to big data analytics and making more informed decisions based on that data. Forecasting and understanding the tourism sector is vital to the continued success of the Gold Coast economy. With this sector being heavily impacted due the pandemic, we foresee this research to enable us to prepare for future shocks of a similar nature.” Tanya Lipus BSocSc /GradCertMngt/MBA(Public Policy) A/ Exec Coordinator Digital City Innovation (Smart Cities) Economy, Planning and Environment, City of Gold Coast

The Centre is also linked with the Actuarial Honours program, with many of the Actuarial students undertaking a Big Data Major. This leads to students becoming exposed to the Centre’s activities, and leads to participation from students into research projects. The Actuarial Honours program has the consequent benefit of providing a pathway through to PhD entry, and 6 students have enrolled in PhDs via this route. The focus on Data Analytics within the School also supports a dedicated position as FinTech Hub director. This role is supported further by members of the Centre, who provide regular free workshops to staff and students on the use of Bloomberg terminals and statistical modelling techniques using R and Python programming languages.

RESEARCH PILLAR 2: ENTREPRENEURSHIP AND FAMILY ENTERPRISE BBS has a long-term history in entrepreneurship research and practice, which has certainly been reinforced by Bond’s own origins – as the first private institution in Australia it has always had to be entrepreneurial, innovative and resilient. It has actively engaged in the local community in training and support in developing entrepreneurial attitudes, and has focused on this in the content of our programs. The mission of those linked to the Entrepreneurship and Family Enterprise Pillar is to enhance knowledge of the transformational role the entrepreneurial process plays in bringing about social and economic value through: • • • • •

Start-up activity Corporate entrepreneurship and innovation Continuity practices in established family enterprises Social venturing Institutional contexts such as government, health service providers, and other non-for-profit settings.

In 2019, the School made a significant appointment in Professor of Entrepreneurship Justin Craig. Professor Craig has a significant international reputation in Entrepreneurship, and is regularly published in the field’s top journals. Professor Craig has begun to actively grow this pillar, both in scholarship and teaching. Professor Craig is supervising 3 new HDR students and has been actively revising teaching content. There are currently 5 academic staff and 3 HDR students aligned with this pillar. EQUIS Reaccreditation Report – 2021

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Since Professor Craig joined in January 2019, the research activities of the pillar have followed a two-tiered research strategic approach. The primary tier consists of three substantial research projects driven by doctoral students. The secondary tier consists of journal publications papers, book chapters, case study research, and conference and research network participation. The activities of the Transformer program are strongly related to this pillar. Although by nature these activities are more teaching and engagement focused, they are aligned with and informed by research scholarship and intellectual contribution. These programs also provide strong outlets for disseminating research, and provide a platform for collaborative research projects. Other activities the pillar is involved in include: • • • • •

Successfully co-hosting ACERE conference (with QUT) online External presentations to industry and quality business schools One paper under review at Journal of Management Studies (Jecklin and Craig) Several case studies progressing Won an HDR Scholarship – Catharina Jecklin

Research outcomes being achieved include: • • • •

5 journal articles published 2018-2020 5 book chapters published or forthcoming 2018-2020 8 case studies in preparation 3 PhD students currently enrolled (Sept 2020)

RESEARCH PILLAR 3: GAP – GOVERNANCE, ACCOUNTABILITY AND PURPOSE The BBS Governance, Accountability and Purpose (GAP) Research pillar is populated by a community of scholars focusing their scholarship into the impact and efficacy of forward-thinking business practices that centralize stakeholders in decision-making and organizational activities. The central focus builds on the concept of triple bottom line reporting, resulting in three themes within the groups research of ‘purposeful profit’, ‘people’ and ‘planet’. Recent company activity and organization behavior is characterized by limited stakeholder engagement, limited public trust, traditional measures of accounting and performance, shorttermism, and usually a bare minimum investment in corporate social responsibility. However, more recently, companies and organizations have started to become transformational entities, embracing non-traditional stakeholders and performance metrics, taking a more long-term view, and allowing societally beneficial missions to drive their business value.

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The GAP pillar, historically named the ‘Transformational Business Pillar’ was renamed in 2020 after staff consultation. Although its mission is broadly unchanged, academic staff felt the new name provided a clearer directive to its mission. There are currently 16 academic staff and 6 HDR students aligned with this pillar. “As the world of work and the workplace continues to change rapidly, our limited understanding of its effects becomes more apparent. Using spatial reality and spatial audio to build and test the influence of different environments on users is critical. We are pleased to be partnering with Libby, James and Oliver on a major project to advance research and practice in this field.” Matthew Stead, CEO, Association of Australasian Acoustic Consultants.

Research outputs from this pillar over the reporting period 2018-2020 are: • 31 peer reviewed journal articles in international journals • Grants totaling €301,000 • 6 HDR students as at September 2020

“The Real Options Models created for De Beers “means that management has the ability to, in future, prevent further investments in projects that are predicted to make a loss or increase investment in projects predicted to be even more profitable. The math is more complicated than NPV calculations, but the approach and way of thinking is closer to reality.” Evelyn Mervine, De Beers Carbon Vault Project Founder

The pillar has also become a focal point for high quality industry projects, with School academics involved in the following projects: • €36,381 Resonate project, used to employ Research Assistants and buy equipment to support the work of Dr Libby Sander • €31,000 US Studies Centre grant, used to support the research activities of Dr Rajat Roy • €96,100 de Beers grant, used to co-fund a PhD student Thomas Aspinall. This is a joint project with the Data Analytics Centre.

CASE STUDY PUBLICATION The School has a strategic target to increase its brand as a case study oriented business school. It is a key leader in the Australian Business Case Network, led by Associate Professor Colette Southam, with support from Visiting Professor Paul Beamish (https://australianbusinesscasenetwork.com/) – which was successful in 2014 in attracting € 40,000 of Commonwealth funding to establish the network. The School is committed to building its contributions in terms of case study development, and to further focus staff attention on case studies, they are eligible for funding rewards. Staff receive an incremental € 400 research budget for each Ivey Case Study they produce. The activity has led to significant outputs, which have a led to significant progress in achieving our strategic objectives. Over the period 2018-2021 we have to date published 7 case studies with Ivey, and an expectation of another 4-5 in 2021 (including 2 already accepted and out for release). Of the 7 registered cases , 4 have already been translated into at least one other language, with additional translations in progress. Translations further increase the Bond brand. This has very importantly culminated in an agreement with Ivey Publishing to co-brand our case studies with Bond Business School as published. In addition, case studies have provided a significant opportunity to engage students in the process of developing intellectual contributions (as noted in the table), and is also an important cog in our relationship with Ivey Business School. While most of our cases to date engage BBS alumni and Advisory Board support, our influence has extended beyond the School and we are working on a Domino’s Pizza case series with the support of Western University previous President Jack Cowin, Indigenous cases in cooperation with Bond’s Nyombil Centre, and health care innovation cases with Bond’s Faculty of Health Sciences.

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Table 5-5: Case Study Outputs 2018-2020 Case Title

Authors

Weblinks (Translations)

2021 Published, In Registration Process or Submitted to Ivey Publishing (IP) Domino’s Pizza Japan: Fortressing or Market Paul Beamish, Colette Southam, Alex Expansion? Beamish

9B21M028

Kemin Industries: A Strategy to Serve

Justin Craig, Gary Bowman

Under review

Paul Beamish, Daniel Abrahams, Gary Bowman, Alex Beamish

2020 Published Toyota Tsusho in the South Pacific

From Boystown to Yourtown: Rebranding an Iconic Australian Charity

Vishal Mehrotra, Alex Beamish

9B20M134, 9B20MJ134 (Japanese), 9B20MF134, (French) 9B20A083

Karatu Coffee Company in Tanzania: What Strategy Next?

Manuel Siegrist (PhD), Paul Beamish, Gary Bowman,Colette Southam

9B20M039, 9B20MF039 (French)

Acquisition of Warrnambool Cheese & Butter Australia

Colette Southam, Philip Abold (MFIN), Mason Deetman (MFIN)

9B20N034

Colette Southam, Greg Pill (ASX), Kyle Fernandes (MFIN)

9B19N001, 9B19NC001 (Chinese)

Adrian Gepp, Molly Parker (BASc)

9B18B013, 9B18BC013 (Chinese)

2019 Published Options Trading Strategies 2018 Published An Introductory Note on Big Data and Data Analytics for Accountants and Auditors

5.7

INTERNATIONAL FEATURES OF R&D

The School is an active contributor to the international body of research through publishing in international journals read by global audiences, attending and presenting at international conferences, and collaborations with researchers from other countries. Bond Business School has also been recognized for its quality HDR programs and has recently signed an agreement with ISM Dortmund (International School of Management) to provide a joint PhD program. ISM Dortmund provides high quality business management degrees, and provides pathways to PhD directly to Bond University (https://en.ism.de/doctor-programs/bond-university). Although this program is relatively new, we have already received 3 PhD applications through this pathway. This agreement will foster ISM Dortmund in development of its PhD program. The School also supports SUR College, Oman, in its accreditation with the Omani government. As part of this arrangement, two of the School’s academics spend a week in Oman twice a year helping to ensure the quality of both the teaching curriculum and the research agendas and outputs of the faculty members. Some specific examples of research activities with an international context are: •

• •

Hosting of international conferences o ACERE 2021 Virtual Conference & Educators forum. Due to COVID this had around 50 registrations. We will be hosting it again in 2023. International collaborations o 37 PRJs from 2018-2020 have had an international collaborator. Visiting International Scholars

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•

5.8

o Prof. Paul Beamish - Ivey Business School, Canada o Dr Kerstin Sailer - University College London, UK o Dr Francesco Barbera - Ryerson University, Canada o Prof Terry Marsh – University of California (Berkeley), USA o Dr Rajendra Srivastava - Indian School of Business, India o Dr Marie Dasborough - Miami Herbert Business School, USA o Dr. Sharon Schembri - Fisk University, USA Key Invited talks o Members of the School gave invited talks for TIQ (Trade Investment Queensland) to a variety of Indian Universities, including:  Prof Bruce Vanstone – The mathematics of Gradient Descent  Prof Steven Stern – On proper metrics and models: Lessons of the cricket rain rule project HDR students o The School has an active HDR profile which attracts a strong contingent of overseas candidates. Over the period 2018-2020, 39% of the cohort were international, from a variety of nationalities including Indian, Pakistani, Swiss, German, Chinese, Bangladeshi. As at September 2020 29% of HDR students were international.

ETHICS, RESPONSIBILITY AND SUSTAINABILITY

ETHICAL PRACTICE IN RESEARCH The School and the University are committed to ensuring academics engage in research and scholarship to the highest standards of professional conduct in accordance with the accepted practice of their disciplines and the codes of relevant external legislative and funding bodies. Internally, the School works in conjunction with Bond University’s Human Research Ethics Committee (BUHREC: https://bond.edu.au/researchers/research-support/research-ethics) to comply with Commonwealth and State Ethics regulations and legislation. BUHREC is committed to ‘promoting ethically, socially, scientifically and legally responsible research activity by all members of our community’ and operates a research application and review process to provide ethics approval for research projects ranging from online surveys to clinical trials. Faculty and HDR students must receive written approval of BUHREC prior to commencing any research projects involving human participation. The School has a standing member on the BUHREC, Professor Mark Spence. The University’s Code of Conduct for Research Policy (https://bond.edu.au/nz/files/955/TLR506.pdf) also establishes a best-practice culture for data management within the Bond University research community. Further, the University provides Research Integrity training (https://bond.edu.au/researchers/researchsupport/research-integrity) and there are two members of the School available to all staff to advise on Research Integrity matters, Associate Professor Simone Kelly, and Associate Professor Rafi Chowdhury. In the broader community context, the School upholds the established guiding principles central to research and scholarship which are set out in the Joint NHMRC/ARC/Universities Australia Australian Code for the Responsible Conduct of Research (2018) (https://www.nhmrc.gov.au/about-us/publications/australian-coderesponsible-conduct-research-2018) including all subsequent updates.

RESEARCH ON ETHICS, RESPONSIBILITY AND SUSTAINABILITY In 2011, the School became a member of the Principles for Responsible Management Education (PRME) Association, and this has become a guiding structure with respect to research in social responsibly and ethics. EQUIS Reaccreditation Report – 2021

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The School has adopted the six major PRME principles, including Principle 4 regarding research activity: ‘We will engage in conceptual and empirical research that advances our understanding about the role, dynamics, and impact of corporations in the creation of sustainable social, environmental and economic value.’ There are several faculty active in the ethics space during the period 2018-2021. Notably, Associate Professor Dr Rafi Chowdhury has co-authored 3 articles published in the FT50 listed Journal of Business Ethics. Chapter 9 provides more detail and Appendix 5.4 a full listing of publications from current faculty, including adjuncts, relating to topics of ethics, responsibility and sustainability. To further stimulate ethics related research, in 2014 the School established an annual €5,000 competitive grant to help fund faculty research on topics related to business ethics, corporate social responsibility and environmental sustainability, the past winners over the 2018-2020 period were: • •

•

5.9

Associate Professor Marcus Randall received €3,100 for his project “Environmentally Sustainable Crop Planning: Adapting Agriculture to Climate Change in Australia”. Assistant Professor Lisa Gowthorp and Professor Barry Burgan received €1,550 for their project “The Role of Extra Curricula Activity and engagement on Students’ Experience, Academic Performance, Health and Well-Being”. Associate Professor Rafi Chowdhury received €3,100 for his project “Consumer Social Responsibility: The Roles of Income Inequality and Subjective Socio-Economic Status”.

LINKS BETWEEN R&D AND THE CORPORATE WORLD

As discussed throughout this chapter, the School has a range of activities focused on sharing research outputs with a broad range of stakeholders, and in so doing, sharing those outputs with the corporate world. The Business Links series (three presentations a year, sponsored by CPA Australia), Bond Business Leaders Forums (3 or 4 per year), the Bond Accelerator and Bond Research Week are all examples of such activities. These events are traditionally held on campus and generate in the order of 180 attendances per year, with 60% of these attendances by individuals external to the University. The major formal avenue for corporate sponsorship of academic research is through the grants process, and the Centre for Data Analytics is particularly active in this space. Several of the jointly funded projects are discussed under the relevant research pillars.

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“On behalf of Mercedes-Benz Gold Coast Dealer Principal and myself I would like to take this opportunity to pass on our gratitude and thanks to Rajat and the team following our Focus Group study conducted by Rajat. The time, enthusiasm and professionalism Rajat showed during the Focus group was second to none. The summary and findings of the Focus Group exceeded our expectations and we are excited to implement the findings. I thank you again for the time you allowed Rajat to conduct this for us and I look forward to working with Bond again in the near future.” Jodie Mariner, Marketing Manager | MercedesBenz Gold Coast

Page 5-16

EXECUTIVE EDUCATION

Bond Business School has not historically been active in terms of executive education programs. It generally felt its regional location was a significant constraint. As such it focused on achieving the core benefits that would come from an active executive education program in other ways, including an extensive events structure to maximize corporate engagement. However, with the evolution of the market place, the School strategy for 2018-2022 involves taking our first steps into this area. The School believes that moves towards microcredentialing, the improving opportunities for mixed mode delivery of both formal and executive education programs, and the increased propensity of people to travel have changed the landscape for the School in this context. Our strategy involves focusing on our areas of excellence, in terms of the three pillars. Our strategy in the past, as outlined in our last accreditation documents, was to move into this area slowly in order to manage risks, but in recent times, and in response to the COVID environment, we are now moving somewhat more quickly (relative to resourcing constraints), with added support from the University. At the same time, we recognize that this is becoming an increasingly competitive space, not just from commercial providers but also many business schools are looking to this as a response to perceived market demand and budget difficulties. In moving forward, our activities will be to offer a targeted and differentiated product that will: • • •

Be developed in areas of School focus to fit with brand and especially the three pillars. Be offered with partners to enable targeted marketing, and reduce risk, that is corporate linked, rather than public offerings. Make use of effective technology to support small group face to face delivery but to enable upscaling to larger online cohorts.

In 2018 and 2019 the School introduced a stand-alone Executive Graduate Certificate in Leadership (Education), a four subject certificate that we prepared in response to requests from School Principals as a major step into restructured programs to meet demand for shorter length credentials. Whilst we received good stakeholder feedback at all stages from development to initial delivery, it “Thank you for the interesting and very well failed to attract the expected market and as such in 2020 it was presented course. I entered this course just for discontinued. learning "excel" but it's happen that this course has presented very interesting topic.” Therefore, we moved on and took the first development steps “A very well organised course brings the complex with the following short course/masterclasses presented: things to us as lucid & easy way to grasp.” • Data Analytics with Excel “Thank you so much. The course was extremely o Introductory course - launched via FutureLearn and well presented. I have learned so much that will supported by Austrade, received 48,000 registrants from help me in my career. Looking forward to part 2.” all over the world, and achieved a high active learning Student feedback on FutureLearn course rate with over 10,000 active learners, and very good responses and feedback from participants. This is initial #9 most popular online course in 2020 is via step was a public course but offered in partnership with https://www.inc.com/jessica-stillman/classAustrade. central-best-online-courses-2020.html o Introductory course - provided on a Bond Learner o

platform, as a free course with 27 enrolments Advanced course – offered at @ €30 per participant with 7 enrolments. There was no active campaign, and it relied on approaching existing contacts.

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Blockchains, Cryptocurrencies, Digital Assets. A pilot trial undertaken in September 2020 with 25 The evaluations for the Blockchains course MBA/eMBA Bond students. There was very good registered a unanimous 5 out of 5 for both feedback on course material and high-levels of educator and course quality. interest). Student comments: • Japan Master classes “Rand was very approachable and informative. o In November 2019 the School presented a half day Rand has passion and enthusiasm for the subject Masterclass titled “The Global Future of Work: A which was clearly evident within the subject Japanese Perspective” with approximately 30 matter. Would recommend this subject to others attendees, made up of Bond Business Breakthrough for future learning opportunities.” University (BBT) MBA students, Bond alumni, and industry participants. “I feel more confident now in my ability to use my o A 3- hour Masterclass was presented in January cryptocurrencies wallets to my parents in Russia. 2020 titled “The Value of Cross Cultural Innovation” Even more, due to my successful learning with with around 50 attendees, again comprising a mix of Rand Low, I helped my friends from Melbourne to Bond BBT MBA students, Bond alumni, and industry identify Cloud Token scam by the developer Ronald participants. Aai using Tether (USDT) coin platform.” o While in Japan, the Masterclass presenters also met Student feedback on course with Australian companies with significant Japanese operations and discussed the opportunity to provide training for their staff. The opportunities identified have been slowed due to COVID travel restrictions but will be picked up again as soon as possible in 2021. • India Austrade Masterclass – the Masterclass above “The value of Cross Cultural Innovation” was presented through an Austrade platform in India. o

At the University level, a Microcredentialing unit has now been set up, under the direction of the Provost which provides funding support for schools looking to develop short courses. In early 2021 the School formed a Microcredentialing and Short Courses committee to champion and provide leadership in the development of opportunities. This committee comprised the Associate Dean Development, Associate Professor Rand Low, recruited because of his industry experience and background in executive education, and Ms. Lisa Shaw. Manager, Microcredential Unit, Office of the Provost. Even more importantly than the funding, the University has an established framework by which the School can move forward, providing clarity to faculty as they get involved. •

•

• •

•

Credentials offered are initiated at Faculty with content description - including learning outcome, and business case, approved by Centre with marketing support. Principle that there is a significant volume of opportunity in breaking down existing subject content. Ten hours of total learning time equates to a workload similar to 1 credit point of a Bond subject. Ten hours of total learning time is the minimum for any Microcredentialed Course, which has a combined minimum of three teaching hours, whether online and/or onsite, and MCs require assessment. Short courses may be for professional development and may not require Learning Outcomes and attract 0 credit points. Focus is to ensure high quality, and limit market risk by developing/offering courses in partnership with professional bodies or businesses as part of their PD or to alumni. The on-line and blended courses will run on a University provided platform, Bond Learner Portal provided by BlackBoard. This platform is deemed to be more fit for purpose, flexible and engaging than the standard Blackboard (iLearn) portal that is used for credentialed offerings. Standard pricing of €300 per 10 hours of total learning (1 credit point) - or approval of variation.

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•

Generally considered as being taught by academics compensated as above load or engage external experts.

Under the direction of the Microcredentialing and Short Course Committee the School is to further evolve our entry into this area: •

• •

It has sought feedback from the BBS Advisory Board to identify training needs amongst its staff, based on fit with the School’s positioning. Various suggestions were put forward, but frequently mentioned were skills in data analytics, moving onto AI and coding It has met with potential partners to establish interests in training Provided information to faculty about evolving opportunities: o Provided an information briefing to faculty on the evolvement of this area and opportunities o Invited faculty interest in short courses to be presented o Initiated a research project with stakeholders to identify training needs in a post COVID world

In 2021 we have plans for running short course across four areas in online or face to face mode (as appropriate) with an average cohort of 50 per area, and a hoped-for revenue stream of €50,000. These will be across the three pillars with the entrepreneurship linked courses offered with industry partners. The following course deliveries are the currently planned projects: •

•

Blockchains, Cryptocurrencies, Digital Assets – Dr Rand Low presented a trial of this short course internally (see above) and has worked with the University Microcredentialing Unit to further develop the product and enhance the online content to an “above professional” level. This course will then become the benchmark which faculty can review and aspire towards. The course will be offered in August/September with a target of 50 participants. Appendix 6.1 shows some examples of web pages for this course. Data Analytics with Excel Part 1 & Part 2 - as above, these courses were developed during COVID-19, and now the School is focused on uplifting the quality in a similar way as the Blockchains course, and to change the platform to the Bond Learner Portal. Part 1 has been offered for a second time from June 15th 2021 with this version included substantially enhanced content by incorporating Articulate Rise, pictorial workflows and more. Development of a Leadership course for Women in Media. The Women in Media Association has discussed with the Business School the need to prepare women journalists and presenters better for management roles in media organizations, and as such the School is discussing an offering in October that meets these needs, and will be presented annually thereafter. Entrepreneurship courses that have been developed by Professor Justin Craig as follows: o BBS has a contract with the Entrepreneurs’ Organization (EO) to deliver “Building the For-ever Business: 4 + 1 Program” to cohorts of a minimum of 20 and maximum of 35 (https://www.eo-wny.com/eo-events/regional-event-efdd3dca-8881eb11-9476-005056aa1955/ ). The program involves content-driven theory “I’m excited for our members. with real-life case studies over 4 days, and a 5th-day bringing concepts to I look forward to welcoming life, where the EO member will bring along a +1 to share their plan and you here for our 5 days form develop the concepts. After initially intending to present this in early August 22nd-to 26th in this 2021, the delays caused by COVID have resulted in a revised contract that fabulous campus will see the first offering to run from August 22-26th 2021. Bond will Nick Bloor, EO Brisbane, in charge EO at the rate of two thousand five hundred US dollars (€2,100) explaining course to members per attendee. EO will guarantee a minimum of twenty (20) attendees. Bond will reserve an additional eight (8) program seats for EO staff and facilitators, at no charge to EO. The contract is for a long term partnership

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and program that will run 2 times a year. The Entrepreneurs’ Organization also partners with London Business School, Wharton, Harvard, INSEAD, and MIT each delivering programs that allow EO members to strive to new levels of leadership in business and beyond. Appendix 6.2 presents the media release related to this course. Family Enterprise Best Practices in partnership with the accounting firm BDO - to be delivered in 2021. Delivered over three days, this intensive on-campus course is designed to better prepare advisors for their role in supporting family businesses across generations. Built around Continuity Model Generation (Wiley Publishing, 2021) authored by Bond Business School professor and course facilitator, Professor Justin Craig, the course will introduce participants to six theory-driven evidencebased meta-frameworks that drive the development of a family-business specific Continuity Canvas. The Continuity Canvas is built around four fundamental plans: (1) the strategic plan, (2) the wealth, estate and asset plan, (3) the talent development plan, and (4) the governance plan. This course with its robust foundation and unique and in-depth look at each plan—and plan for the plans—provides advisors with much needed understanding about the challenges in the family, ownership, and business systems that make up the complex world that is the landscape for business owning families.

In addition a core priority in this area is to return to our Japan focus as soon as possible and work with our alumni and Australian companies based in Japan to expand on the initial offerings that we undertook in November 2019 and January 2020. For 2022 our target is the delivery of 10 separate courses, extending on the above, on average twice a year. Financial modeling indicates that, with an average cohort of 100 and an average price per student of €200 (median of 40 – so some in small face to face and some in larger online) achieving this target would deliver a revenue stream of €400,000, or approximately 2% of BBS revenues, and an operating surplus of 50% (faculty and externals will be paid on average $5,000 for course development per year and for each delivery. Dependent on outcomes as above for 2022, a longer term (5 year) target would be for microcredentialed and short course product to generate between 5% and 10% of annual revenue. The most significant challenges in this area for going forward include: • • •

Engaging faculty in product development and delivery at a time when workloads have increased to manage the financial impacts of COVID. The time required to develop partnerships to reduce risk in program delivery, and in the case of plans for Japan, the travel restrictions impact on this. Managing the competition that will increase into the future.

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RESOURCES AND ADMINISTRATION

7.1

PHYSICAL FACILITIES AND THE LEARNING ENVIRONMENT

The Bond campus is a pristine environment with architecturally significant buildings. Apart from the teaching facilities, described below, a range of student accommodation is available on campus (housing some 20% of our students) as well as restaurants, cafes, student shops and impressive sporting facilities. In 2021, the University was awarded more 5-star ratings in the student experience category than any other university in Australia for the fifteenth year in a row. Lecture theatres, case study rooms and seminar rooms contain up-to-date technology including electronic overhead projectors, touch screen computers and smart boards. Almost all have recording facilities. Case Study Rooms are favored for MBA classes. Seminar rooms are available for small classes with less than 20 students. There are 13 teaching laboratories, including the multimedia labs, with an average of around 25 computers per room. Various laboratories have special software installed for specific courses, e.g., Bloomberg, R & Python programming software. Some labs are open 24 hours for students to access outside class hours. The Balnaves Foundation Multimedia Learning Centre provides a range of individual and collaborative study spaces using the latest audio visual and computer technology. The Centre is a wireless environment where facilities include flexible furniture arrangements to accommodate group work and discussion, and high level and the latest hardware, video recording facilities for students to prepare audio-visual presentations, and videoconferencing facilities. The study booths provide group seating with large LCD screens for interactive learning. Students have access to a document camera, computer, Blu Ray DVD player and a PlayStation®3 console. Wireless PlayStation® controllers and keyboards are available from the Information Kiosk for students. The Global Links Room features state-of-the-art computing and communication equipment including videoconferencing facilities. The clustered computer tables provide room for students to work in pairs. The EyeTouch and EyeStep enable interactive content to be displayed. Printing facilities are available. Comprising two industry-standard trading facilities, the School offers every student 24-hour access to Bloomberg’s live financial market data at the newly located FinTech Hub off the ADCO amphitheater. The facilities have a dedicated supervisor who is available to provide training for Bloomberg certification and the R programming software. The School has 40 Bloomberg terminals, the most of any university in Australia and is officially a member of the Bloomberg Experiential Learning Partner (ELP) Program. Proudly, we are 1 of only 3 universities in Australia to achieve this partnership. As the leading facility of its type in Australia, students gain practical experience in executing deals, managing portfolios, trading financial securities, and changing market conditions. The facility also has a dedicated supervisor who is available to train students for Bloomberg certification and help with its application.

On average 35% of students undertake Bloomberg certification each year and 37% undertake the Rtraining, during their degree as a value added, non-credit bearing but skill developing opportunity leveraging the School’s investment in Bloomberg

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Bloomberg terminals are widely used in industry, with the Trading Room and the Dealing Room providing students with an opportunity to extend their education beyond the realm of theoretical content. Students use the facilities to undertake the Bloomberg certification test (BESS), which certifies them as proficient users of Bloomberg services and the Bloomberg Aptitude Test (BATs). Student performance data from the BATs test is automatically made available by Bloomberg to potential employers. Bloomberg also offers students an opportunity to see the

7: Resources and Administration

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list of employment opportunities in the funds management industry, and to upload their CV and apply directly to job opportunities through the Bloomberg system. The Bloomberg Market Concepts package has in recent years been made compulsory for students graduating with finance majors, while also being a valuable option for students in other programs. Getting access to the data base and the Market Concepts as students is a significant advantage for future employment. These resources are very accessible because of the small classes and the number of available terminals. The Finance and Informatics courses use the Bloomberg service to provide data for real-world case studies and analysis. Within the Accounting courses, Bloomberg data is used for company analysis as a regular classroom activity, ensuring that the students have current understanding of company and market conditions. The Business Commons, opened in early 2020, provides a modern, comfortable space that accommodates 120 students in a range of self-study areas, collaborative spaces, and informal teaching areas. It occupies the whole second floor of the School. It also has a staff area to support business students and an office for the Business Students’ Association. The Business Commons completes the vision for the Quadrangle such that on arrival, a student can enter any of the four adjacent buildings directly into high quality study spaces. The Business Commons is open to all students enrolled at Bond.

7.2

FINANCIAL PERFORMANCE

Table 7-1 shows Income Statement summaries for 2017-2020 and forecasts for 2021 to 2023. The forecasts are consistent with strategic plan targets, although do not include exec revenues or costs. 2020 experienced a decline primarily in international enrolments due to restrictions imposed by the Australian government during COVID-19 pandemic. 2021 has registered an increase in enrolments, primarily for domestic undergraduate students, a 52% increase in enrolments compared with 2020, 28% favorable to budget. Domestic postgraduate numbers have also shown an increase of 31% compared to 2020 across all programs. The major expenses are salaries.

Table 7-1: School Income Statement Summaries – 2017-2020 actuals; 2021-2023 forecasts (in € million) 2017

2018

2019

2020

2021

2022

2023

Actual

Forecast

Undergraduate

8.816

8.824

8.358

7.481

6.059

6.665

7.332

On Campus MBA Programs

1.748

1.412

1.401

0.990

1.089

1.198

1.318

Other PG coursework Programs

2.527

2.969

3.143

2.644

2.142

2.356

2.591

Revenue

Other Tuition Income

1.682

2.026

2.010

1.209

0.979

1.077

1.185

Net Tuition

14.773

15.232

15.286

12.324

10.269

11.296

12.426

Other revenue (inc tuition - External Programs)

1.268

1.181

1.158

1.026

1.067

1.120

1.176

Total Income

16.041

16.413

16.445

13.350

11.336

12.417

13.602

Salaries and On-costs

6.508

6.755

7.190

6.262

6.375

6.630

6.895

Other Expenses

1.306

1.255

1.228

1.161

1.023

1.064

1.106

Total Expenses

7.900

8.011

8.418

7.423

7.398

7.694

8.001

8.141

8.402

8.026

5.927

3.939

4.723

5.601

Expenditure

Contribution / (Deficit)

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7.3

FINANCIAL MANAGEMENT

The School’s financial plan is developed in collaboration with the University Finance Office and the University Management Committee (UMC) and is congruent with the University’s and the School’s Strategic Plan. The School’s income and expenses are recognized in the School’s accounts from which a contribution is made to the University. From 2017-2019, the School contributed circa 50% of its net tuition, but this decreased in 2020 because on student enrolments during the COVID-19 pandemic. The School operates as a profit center within the University, which affords a high level of internal flexibility over financial management while providing the University with contributions which are applied to central management and has resulted in very positive infrastructure investments within the School in recent years. All Faculties in the University contribute similar positive returns to the University. Research expenditure outside of the research time available to core faculty is managed through a separate research ledger and is discussed in Chapter 5. The financial processes, showing the role of student load forecasting and strategic planning process in financial allocations is demonstrated in Figure 7-1. Internally, the School’s Business Director, in collaboration with the Dean, submits requests for resources to support programs and services to the University. These are matched with Key Performance Indicators in the Strategic Plan to be measured for compliance. Particular attention is given to resources to support the Student Experience which is central to the School and University’s strategy. Specific technology needs, both hardware and software, for example the Bloomberg Terminals in the Trading Room, Virtual machines, and high-end computers for the Centre of Data Analytics, are all maintained in collaboration with the University’s Information and Technology Services office. The Trading room and Dealing Room are simulated trading rooms, originally created with significant input and initial funding from Macquarie Bank. However, the ongoing maintenance is budgeted within operational funds, for example, computers are regularly upgraded and the number of terminals has been increased. The School has also been supported with additional strategic initiatives funding in addition to the general operational budget, which in the last few years has supported new program development work, including content development for adding the all-English pathway to the BBT program, and the undergraduate and postgraduate programs in Business Data Analytics launched in early 2020. Budget allocation for staff professional development is provided as part of job specifications. In addition to academic staff allocations, professional staff are supported with an allocation (€620) each per year. Professional staff members can enroll in university courses as part of their conditions of employment. Endowment fund interest is used as part of scholarship funding and to fund postgraduate bursaries. In 2021, € 62K is available to fund student bursaries for the Business School. Student enrolment numbers are monitored each semester to plan for any additional academic and professional staff requirements to provide better service to students in line with the mission. External financial consultants are commissioned to ensure fiscal compliance and address any risk management issues (e.g. Ernst & Young, Deloitte). The financial processes, showing the role of student load forecasting and strategic planning process in financial allocations is demonstrated in Figure 7-1.

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Figure 7-1: Summary of School Budgeting Process

Jan

(domestic/international)

BBS Dean, BBS Director, Bond College Director, UMC, Planning July

Aug Sept

Blue text indicates formal participants in each step (note that UMC is the University Management Committee – the senior executive of the university (including the BBS Dean)

Set next year’s program fees

Projections of enrolment numbers

Build operational budget Salaries Marketing New Positions T&L Continued positions Maintenance Redundancies

BBS Revenue Projections BBS Dean, BBS Director, Planning

Oct

Strategic Planning Review Meeting Review and fine tune all material

Nov/ Dec

VC, BBS Dean, BBS Director, Planning, Finance

Research Budget

from central budget based on formula related to outcomes

Strategic Initiatives Funding

Competitive bids for projects funded from central strategic budget

Budget Approval by University Council This does not include capital works – which is a centrally funded initiative. Over the period 2018-2021, the University has invested circa €3 million in facilities improvement directly in the Business School. As illustrated in Figure 7-1 the School has also been supported with additional strategic initiatives funding in addition to the general operational budget, which in the last few years has supported new program development work, including content development for adding the all-English pathway to the BBT program, and the undergraduate and postgraduate programs in Business Data Analytics launched in early 2020.

Table 7-2: Summary of BBS Strategic Initiative Funding STRATEGIC OPEX

2018 STRATEGIC INITIATIVES 3A03 W265 W276 3A04 3A05 3A03 3A06 3A05

Total

Myriad Mission

STRATEGIC CAPEX

€ 62,000

Graduate Certificate in Executive Leadership Financial Planning subjects 2019 STRATEGIC INITIATIVES € 46,500 AACSB Re-Accreditation € 6,200 Year 12 Extension Program € 16,120 Global Management Challenge 2020 STRATEGIC INITIATIVES € 14,880 Engagement With Japan BBS Year 12 Interstate Extension Program € 43,400 Research Into Big Data € 15,500 MBA Accreditation € 204,600 Three years

€ 62,000 € 62,000

€ 124,000

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Budget allocation for staff professional development is provided as part of job specifications. In addition to academic staff allocations, professional staff are supported with an allocation of €620 each per year. Professional staff members can enroll in university courses as part of their conditions of employment. Endowment fund interest is used as part of scholarship funding and to fund postgraduate bursaries. In 2021, €62K is available to fund student bursaries for the Business School. Student enrolment numbers are monitored each semester to plan for any additional academic and professional staff requirements to provide better service to students in line with the mission. External financial consultants are commissioned to ensure fiscal compliance and address any risk management issues (e.g., Ernst & Young, Deloitte).

7.4

RISK MANAGEMENT

Ongoing financial risk relates mainly to the School’s revenue line. The School continues to face external pressure for revenue growth. In the short term, foreign exchange fluctuations remain problematic particularly in relation to the Bond-BBT MBA program in Japan. The School has assumed the foreign exchange risk by denominating fees in Japanese yen and has not hedged exposure. More generally, the AUD is rising relative to the USD and GBP. Based on national government expectations, the AUD is expected to rise in the mediumterm. Changes to immigration regulations constitute a significant risk to the School. More recently, the Australian government has allowed international students to commence their study overseas to be eligible for post study work rights due to travel restrictions during COVID-19 pandemic. This is expected to help to rebound of falling international enrolments in particular counties like China and India, who are particularly sensitive to changes in regulations governing student visa and temporary work permits. The current travel restrictions and economic crisis have helped domestic enrolments, which have shown an increase, both in undergraduate and postgraduate programs. The ongoing pandemic has worked as a catalyst for online education and remote modes of delivery to disrupt the traditional face-to-face teaching model at the School. This is mitigated in two ways. First, the school has invested in, and experiments with, a variety of technology enhanced learning applications that enhance the face-to-face model. Second, the School has invested in the development and delivery of microcredential and short courses to increase brand, improve revenue streams and provide a base from which to attract students into formal degree programs. The School is continuing to strategically test the market with Executive Education offerings targeted at specific groups. The School continues to develop an integrated collection of microcredentials. The first suite of stackable offerings in Cryptocurrency & Digital assets, Lending & Investing with decentralized finance and Blockchains for Business are underway to be launched in late 2021. The School faces less risk in terms of cost control. As demonstrated in the financial summary it manages its costs in response to changes in revenue. The School holds no debt and has no debt servicing requirements. The University has a documented Business Continuity Plan (BCP) designed to recover prioritized business processes through the restoration of resources. It is designed to minimize the impact to the School in areas of people, reputation, learning and teaching, financial costs and revenue, environment and safety. The document contains business disruption scenarios and Maximum Acceptable Outage (MAO) timeframes to recover identified critical business activities, and record strategies to maintain or recover critical business activities in the event of a continuity incident. BCP includes: EQUIS Reaccreditation Report – 2021

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• • • • •

7.5

A formal action-oriented plan to recover specific business processes within the designated MAO objectives. Procedures for escalation from a normal operating incident to a business continuity recovery event. Accountabilities and responsibilities during a business continuity incident. A framework for resuming critical and non-critical business activities. An action tracking log, stakeholders’ contact list and other supporting tools.

INFORMATION AND DOCUMENTATION FACILITIES

Library Services provides comprehensive customer focused services, resources, and facilities through the John and Alison Kearney Library (Main), and the John and Alison Kearney Law Library. These facilities feature computers and quiet study areas. The Library provides group study rooms in the Main Library and the Balnaves Foundation Multimedia Learning Centre. Facilities include white boards, seating and tables, wireless network access and computer workstations. The Library provides a range of services to assist students and Faculty with research activities, and a strategic plan which focusses on innovative improvements to services. This plan is available in the Base Room (Chapter 7 folder). The Library provides a dedicated librarian to support academics and students in the Business School. Library borrowing privileges are available to all staff and students, alumni and the broader university community. The Library offers a range of research skills training to assist in finding required information The Librarian supporting the Business School is very active in providing workshops to Business School students in orientation, to individuals as required and to BBT MBA students during their study tour. Research and Consultancy services are available to business and industry. Links to information resources are provided by the Library. Additionally, faculty and students can request any material not held in the library from other collections. Network printing and photocopying facilities are available in a variety of locations across the campus. The Library provides access out of normal working hours with opening hours being 8:00 a.m. to 1:00 a.m. Monday to Thursday and 8:00 a.m. to 11:00 p.m. Friday to Sunday. The Multimedia Learning Centre is open 24 hours per day. The Balnaves Foundation Multimedia Learning Centre provides a range of individual and collaborative study spaces using the latest audio visual and computer technology. The Centre is a wireless environment where facilities include flexible furniture arrangements to accommodate group work and discussion, and high level and the latest hardware, video recording facilities for students to prepare audio-visual presentations, and videoconferencing facilities. The School evaluates support provided by the Library to users through the results of the Library Services InSync Customer Survey. The survey measures levels of student and staff satisfaction with the Library’s performance and allows the University to benchmark against results from previous years and with other Australian and New Zealand libraries participating in the survey. In the most recent InSync Customer survey, Bond’s Libraries received an overwhelmingly positive report with an overall satisfaction rating of 84%, which is the highest ranking following changes to the survey categories, and third highest amongst the 43 university libraries in Australia and New Zealand. The category of Information Resources received a score of 85.8% – the highest rating in the database amongst libraries surveyed.

7.6

COMPUTING FACILITIES

The campus has extensive wireless coverage across all buildings and grounds. Students receive a Bond IT Account providing access to computing resources including webmail, iLearn and print facilities. A student portal has been designed and implemented to disseminate important information to all students across the campus. Students have lifelong access to email addresses as alumni of Bond University. Computer terminals EQUIS Reaccreditation Report – 2021

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are available across the campus in laboratories, libraries and common areas. In student areas, hardware is provided on a lease arrangement. PCs are refreshed every three years with mainly Dell hardware and with a Tier One support that Dell offers. The standard operating environment is currently Windows 10. There are 13 teaching laboratories including the multimedia labs with an average of 25 computers per room. These facilities are used for tutorial and laboratory sessions. Some have specialized software installed for specific courses. The laboratories contain overhead projectors and are available to students 24 hours a day. There is a mix of Macs and Windows PCs available to accommodate the different disciplines with multi-media and statistical programs. The Computer Availability service is a web-based system for students to view computer availability in the public learning spaces, the Main Library, Law Library and Multimedia Learning Centre. The Trading Room and Dealing Room in the FinTech Hub provide students 24-hour access to Bloomberg market data terminals, streamed market information and electronic trading platforms, allowing them to review live trading data and background information simultaneously. Widescreen monitors display financial and economic data from Bloomberg Professional that can be seen from every seat. A range of software is available and this is purchased on software purchasing processes when required. Bond has a base student SOE standard operating environment. The iLearn (Blackboard) teaching platform is used. The Bond intranet provides a wide range of information and services for staff and students. The Business Commons was opened in early 2020 providing a modern, comfortable space that accommodates 120 students in a range of self-study areas, collaborative spaces, and informal teaching areas. The space is equipped with wi-fi networks to allow ease of internet access to students and staff. It also has a staff area to support business students and an office for the Business Students’ Association. The University is committed to providing a high level of support to Higher Degree by Research (HDR) students to enhance their research training experience. Dedicated workspaces are equipped with a desktop computer with internet access, email account, iLearn, Word, Excel, PowerPoint and on request, relevant statistics packages and other commonly related research software as required. Twenty four hour access to their workspaces is available. A Computing Service Desk is located in the Main Library and is manned by ITS support staff. Support is provided for all University-owned equipment, as well as helping to connect privately-owned computers to the network. A helpdesk providing immediate assistance can be accessed by phone, email or in person. For students living on campus, a team of fellow students, volunteer to help others with computing issues. Staff and students can access the Bond University network from a personal computer or mobile device using an internet browser. Bond Connect provides a remote desktop that will give access to the Bond network, relevant Bond home drive (H:drive) and that allows staff and students to transfer documents directly from H:drive to their own PC. Blended learning initiatives are provided for staff with applications such as Camtasia and Adobe Creative Suite being used. Software available includes R, SPSS, Eviews and special software installed for specific subjects in the Trading Room and Multi Media Learning Centre. EduTouch screens have been deployed throughout the teaching spaces to assist staff in remote teaching. The University has invested in improving the student experience by developing a Student Portal for ease and completeness of access to on line resources which is supported on both mobile and desktop. Students stay connected around campus, locate available computers, stay up-to-date with the latest campus news, look up exam timetables or connect to iLearn so that they can check grades, post to discussion forums, view

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important class announcements, read and download assignments, and upload content. A Staff Portal is currently in development. Since initial accreditation, the University has also launched a new curriculum management system, an online performance and development and review systems, and provided a range of other new supports to benefit students and staff in managing their day-to-day activities.

7.7

MARKETING AND PUBLIC RELATIONS

The School manages a range of events, advertising, sponsorships, brochures, banners, news articles and other marketing initiatives to promote programs and activities in conjunction with the University’s central Office of Future Students. The School’s Business director and Marketing Manager liaises with the Office of Marking and other areas of the University in producing an annual marketing strategy, which outlines the strategic mission and objectives, market positioning and target audiences, historical recruitment data, recruitment targets, product overviews of degree programs, marketing tactics and budget allocation. Regular communication with the central office ensures alignment with the University’s overall marketing strategy. The School’s recruitment activities focus on the following promotional activities: • • •

•

• • • •

More focused engagement with targeted secondary schools. Sponsorships for secondary school activities including Business Week activities, Student for a Semester programs and work experience opportunities. New initiatives for undergraduate recruitment, for example, the year-12 extension program, a twoday workshop where students gain an insight into university life to assist the transition from high school to university. Dedicated scholarships are made available to students in this program. In 2021, three 50% scholarships and three 25% scholarships have been allocated to participants of this program. New initiatives for postgraduate recruitment, for example, the Test-Drive initiative which invites potential students onto campus to participate in classroom experiences and to meet with current students. Nurturing existing relationships and establishing new pathway partnerships. International agent training via Zoom. Focus on social media promotions. Support for new programs being introduced.

The effectiveness or return on investment (ROI) of marketing activities is generally evaluated by measuring the number of leads obtained (lead generation), and how efficiently the leads were obtained (cost per lead). For example, if a relatively cost-effective event attracts a considerable number of leads, it would be deemed successful. Subsequently, communication with leads is conducted through direct marketing activities coordinated by the Office of Future students.

7.8

ADMINISTRATIVE SERVICES AND STAFF

Much of the support systems for the operations of the Business School are centralized. Relationships and outcomes are organized under governance structures and processes to ensure that the University Centre delivers services and support, is accountable and operates efficiently in collaboration with the School’s administration team. Under the School structure, administration within the School is supported by a small team of professional staff aligned to Associate Dean Portfolios. All professional staff report to the School’s Business Director, who is responsible for the service delivery to faculty and students within the School.

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Monthly meetings with all professional staff allow for regular dissemination of information, while keeping staff updated about details in individual portfolios. The model of service delivery, known as the Client Services Hub, is regarded as a one-stop-shop for regular consultation between those staff with specific responsibilities in the School and those with complementary responsibilities in the center. The intention is to provide a single point of contact for students with the University, which can either deliver the service or ensure that the service is delivered seamlessly to students. The Finance Officer provides administrative assistance regarding financial and human resources matters. A Staffing Resource Plan is monitored and revised by the School’s Executive Committee to provide long-term goals and permit the scrutiny of new initiatives to ensure program and financial viability. The Associate Dean (Faculty) in consultation with Associate Dean (Learning & Teaching) and Business Director, formulates an annual staffing plan based upon faculty availability and program requirements. In addition, the School continues to support a long-standing pattern of Visiting Scholars to mentor HDR students and Early Career Researchers and to groom future researchers. An annual professional development review for all professional staff is conducted by the Business Director, which formally acknowledges staff performance and measures progress towards agreed KPIs. This review also allows for assessing workloads and provides for professional training as required. Figure 7-2 below shows the organizational structure and relationships of the professional staff with the Dean and Associate Deans roles that are supported directly by professional staff (i.e. 4 of the 6).

Figure 7-2: Administrative Structure

7.9

ETHICS, RESPONSIBILITY, AND SUSTAINABILITY

The School ensures ethical behavior, responsibility and sustainability in operations through University level policy and through organizational culture. Since 2019, The University is a signatory to the United Nations Sustainability Goals (UNSDG). The SDGs provide a valuable framework for our academic pursuits and is particularly relevant to our emphasis on applied skills, innovation and enterprise, and transformative student EQUIS Reaccreditation Report – 2021

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experiences. The University has a range of policies that cover ethics, responsibility and sustainability at the people level. These include the Code of Conduct, Sustainability policy and Research Ethics policy. Each policy provides specific information on the acceptable standards and behavior expected from Bond University staff members. As an equal opportunity employer, the University provides a safe work environment through the development of strong policies and procedures and continued education of staff on these matters. The School is required to take action against unethical, irresponsible and unsustainable behavior. Expectations are communicated in strategic planning documents, through annual performance appraisal systems, through management meetings, in faculty policies and in a workplace that celebrates its own diversity. Bond University offers a range of training to staff from online courses through to face-to-face training and workshops. As an example, staff induction provides an overview of policies and procedures and advice on where to find necessary information. Professional staff members are involved in regular on-the-job training and have access to internal resources when seeking further clarification on topics such as ethics, responsibility and sustainability, for example the Research Office and the Human Resources Office. Staff training is primarily organized at the University level utilizing experienced internal and external facilitators that are aware of the Code of Conduct requirements of the University. One of the key study options for faculty is the availability of subsidized tuition at undergraduate, postgraduate and doctoral levels. Ethics, responsibility and sustainability are a key part of these programs. Professional staff training for School administrative staff is often on-the-job training conducted by experienced managers and, in some cases, includes tertiary study. Post-doctoral research opportunities are conducted within an ethics framework and encourage responsible and sustainable engagement in research. In terms of infrastructure development and facilities management, the University applies current Facilities Management and Sustainability best practice models into all infrastructure planning projects across campus. The new School of Architecture building was designed and constructed as a best practice energy building, while older buildings such as the Business School incorporate practices that maximize environmental efficiency as much as possible. For example, any staff working in the building out of standard hours must ask for airconditioning to be switched on. The School has shared rather than individual printers to manage paper use with standard printing profiles being double sided and black and white. All student assessments are submitted through electronic media without the need for printed submissions. The University has a Sustainability Committee with representation from across the campus including a Business School representative.

7.10 CONNECTIONS WITH PRACTICE The School is actively involved in applied research and community engagement through regular dissemination of topical information via the media, on-line discussion forums (The Conversation), Business Links (three presentations per year, co-sponsored by CPA Australia), Bond Business Leaders Forums (three per year), the on-going Research Seminar series, and Research Week.

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8 8.1

INTERNATIONALIZATION INTERNATIONAL STRATEGY

The 2018-2022 Bond Business School Strategic Plan integrates a range of elements that form a structured international strategy. Key actions for ensuring internationalization in the Bond Business School are to: 1. 2. 3. 4.

Embed internationalization into the student experience using the diverse background of students, staff and alumni. Ensure that graduates are prepared for impactful careers in a global marketplace. Ensure that our research is globally relevant and contributes to advancement of knowledge in a global context. Enhance the brand and positioning of Bond Business School as a high-quality institution.

Internationalization is embedded within all aspects of the School Strategy and the corresponding actions that drive this important area are explicitly detailed in an appendix to the Strategic Plan. While the 2020, and now 2021, pandemic experience has impacted significantly on the School in many ways, there is no question that internationalization is the one area that has been impacted the most. Political decisions and the challenges of the global coronavirus pandemic have caused nations including Australia to review their globalization position. The decisions implemented over the last three years have impacted our internationalization capabilities in three major ways: • • •

Faculty have not been able to attend overseas conferences, or take overseas study leave which is a common occurrence in normal years. It has significantly curtailed the on-campus presence of international students and exchange/study abroad. It has deferred other key components of the international strategy that require/involve face to face visitation, including reduced interaction in terms of key partnerships.

Despite this uncertain background, the School remains committed to developing business leaders with a global mindset, and to be a business school that has a global footprint. The School believes even in the context of these short term challenges, it has some key advantages in moving forward, such as the diversity of our student recruitment. To deal with the challenges and maximize opportunities to go forward, as part of the June 2020 and June 2021 review of international strategy action plan the following actions were undertaken: • •

•

• •

Clarified and tightened the allocation of responsibilities for the actionable deliverables across all strategies. Increased the focus on initiatives that will support the recruitment of international students that will underpin our financial sustainability, but also reinforce the advantages created because of our diverse student body. (Strategic plan basis –1.4.2 and 3.4.2). Maintained and improved the international focus in the make-up of the School Advisory Board (Strategic plan basis –3.3.1), with four members of the Board living and working overseas, one in Germany, one in the USA, one in New Zealand, and one in Hong Kong, supplementing the international experience of those on the Board living and working in Australia. Of the Australian residents, three reside and/or work interstate, two in regional Queensland, two in Brisbane, and four from the Gold Coast area, and almost all have international work experience. Reviewed milestones and timings for impacts of travel restrictions relative to COVID-19. (Strategic plan basis –3.1.3, 3.1.4 and 3.1.5). Nominated the following short-term priorities for moving forward relating to internationalization for 2020/21 and 2021/22 including:

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o o

Write and publish case studies, primarily focusing on Australian and Japanese organizations and business contexts. (Strategic plan basis –1.3.3). Update the list of international educational partners using our criteria (which include focusing on internationally accredited schools, and schools where synergies exist to provide maximum benefit) to identify and engage with new strategic partners in priority international markets. (Strategic plan basis – 3.1.4). Offer executive education programming aligned with the pillars in Japan in conjunction with BBT. (Strategic plan basis –1.3.3, 2.1.3, and 3.1.3).

At the time of setting these priorities for 2020/21, the School expected some return to a more normal international environment in early 2021. This did not happen, and it is now more likely that it will be some months into the 2022 calendar year before these strategies can be fully implemented. As noted throughout the report, a significant part of our internationalization story is our unique Japan focus which also unfortunately has been impacted by the political decisions implemented to constrain the spread of COVID globally. Despite this, recruitment numbers have been somewhat higher in 2020 and 2021 and we continue to progress on producing Japanese related case studies and research. However, these initiatives have not progressed to the extent we would have liked, nor have we had the opportunity to progress with our intended development in executive education programs linked to alumni, and Australian companies in Japan (see Section 8.4). This will become a core focus in late 2021 and into 2022, as outlined in the short-term priorities for the coming year. Similarly, the strategy including developing further relationships with quality international business schools has been impeded, and as such we have put our focus on maintaining our established relationships, as well as building our relationship with Ivey Business School and our Japanese partner, looking to return to the broader strategies in 2021/22. Other major outcomes that have been achieved relating to our International strategy include: •

•

• • •

Increasing our international brand and developing long term student recruitment through the participation in Austrade activities (i.e. Future Learn, India and Japan Masterclasses) and other online activities including webinars. Recruitment of high quality staff internationally and/or with significant support the ongoing development of the research pillars (see Chapter 4). At present, in recruiting internationally there have been difficulties transitioning the faculty into the country, and they have initially participated from overseas using video conferencing. International impact of and recognition for faculty with some examples including: o Dr Libby Sander featuring in global media (see Appendix 5.3). o Appointments of faculty to editorial boards of international journals. o Participation of senior staff in the volunteer networks of the accreditation and international education bodies. o Participation in international conferences and seminars through audio visual options, for example Professor Justin B. Craig presented the keynote “Are We In Good Hands? Building Trust through Planning” at the twelfth annual America Empresarial Family Business Summit in November 2020. Hosting of international conferences, for example, forthcoming ACERE (Australian Centre for Entrepreneurship Research Exchange) Conference 2024. Publishing in quality international journals which lead to international recognition as reported in Chapter 5. Publishing of case studies in Ivey Publishing, including those with a Japanese focus. Of the 7 case studies published over the last two years 3 have been translated into other languages Including, French, Chinese and Japanese, making them accessible to a global audience.

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•

8.2

Maintained and renewed faculty links to international business schools, with the major examples including: o Professor Justin Craig has had his Adjunct Professor Status at Kellogg Business School renewed for a further two years. o Professor Paul Beamish (Ivey Business School) maintains his Adjunct Professor role at Bond and provides leadership to researchers in the Governance, Accountability and Purpose pillar, and in case study developments. o Associate Professor Colette Southam (Bond Business School) has had her adjunct status at Ivey Business School renewed. o Associate Professor Rajat Roy – Honorary Distinguished Professor, SIBM, Pune, India o Associate Professor Rob Nash – Visiting Professor, Robert Gordon University, Aberdeen, UK The Dean has participated over 2019-20 in 3 EQUIS PRT visits and the Dean and Associate Dean have had appointments to the Initial Accreditation Committee of AACSB, and undertaken/chaired several PRT visits for that organization, in addition to attending and speaking at conferences of those organizations.

INTERNATIONAL POSITIONING

The School is positioned internationally based on the premium quality of its student experience and engagement with industry. Participation in various world ranking schemes and international accreditations has resulted in: • •

• •

A 5-star rating under the QS Stars University Rating system. Global ranking (Times Higher Education) as the world’s 30th top small University (https://www.timeshighereducation.com/student/best-universities/best-small-universities) and 97th in the world rankings of young universities (https://www.timeshighereducation.com/student/bestuniversities/best-young-universities-world) The University rated ‘world class’ in the Excellence in Research Australia (ERA) rankings in Business and Management – indicating that its research is published and read in high quality globally oriented journals Attainment of AACSB accreditation in 2013 and reaccreditation in 2019, initial EQUIS accreditation in 2015 and reaccreditation in 2018, CFA program partnership (last renewed in 2018), and is one of only a small number of Australian Universities with membership of GMAC.

The rankings both reflect and contribute to the School’s ability to attract one of its greatest strengths – a very diverse and high-quality cadre of international students across all programs.

8.3

INTERNATIONAL DIMENSION IN SCHOOL’S GOVERNANCE

Over the last five years there has been an emphasis on ensuring international experience within the Business School Advisory Board. In addition to several board members representing global organizations, most members have significant prior and current international work, with 4 members currently residing and working overseas. Further details regarding board membership are provided in Chapter 10. In addition, the Council of the University includes several members (including Business School alumni) who have vast international experience. Membership of Council can be viewed at https://bond.edu.au/aboutbond/university/university-governance/council-committees-members. The School’s commitment to internationalization is further illustrated through its governance in its governance structure with all Associate Deans having responsibility for oversight of the implementation of the School’s internationalization strategy as it is reflected in their portfolio.

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The School Business Director (SBD) has oversight of the School’s budget associated with international marketing and liaises with international articulation exchange partners and agent representatives. An External Engagement and Marketing Management position reports directly to the SBD and indirectly to the Associate Dean (External Engagement) supporting the School’s international marketing strategy. These roles are supplemented by the role of the Associate Dean (Development), who focuses on curriculum development and core international program partnerships, while ensuring research strategy and corporate dimensions emphasize the focus that is needed for ensuring students are prepared for a global marketplace. This role also has oversight of accreditation and rankings which links to international positioning. Finally, the Associate Dean (Development) is also the Program Director of the Bond BBT program. With a critical international partnership existing between the School and BBT University (Japan) in the form of a Global MBA for Japanese executives, the role of Director of the BBT Japan program also contributes significantly to the School’s international strategy.

8.4

RESOURCES ALLOCATED TO INTERNATIONALIZATION

Bond International and the School’s marketing team support international recruitment through an annual budget allocation for in-market activity in target countries. Bond International retains a team of International Regional Managers (IRMs) who manage market activities by region as follows: • • • • • • •

Europe. Canada, USA and Caribbean. China, Hong Kong and Taiwan. Middle East, South America and Africa. South East Asia & Oceania. Indian Sub-Continent. New Zealand and Onshore Australia.

Several IRMs live in country or in their region, participate in international education expositions; visit international education agents; liaise with schools; and connect with alumni of the University and host events aimed at raising the School’s profile. Where relevant and feasible, staff from the School visit key international partners and attend events in key markets in collaboration with the relevant IRMs. The Dean, Associate Deans, School Business Director and other key senior staff also travelled to meet with key partner institutions and attend key international forum such as EFMD, GMAC, AACSB, and NAFSA, EAIE and events in 2018 and 2019, and in 2020 have continued to participate in the on-line forums that these events have moved to. Senior management also regularly allocate their time in volunteer roles in EFMD, GMAC, AACSB. The resourcing of students’ inbound and outbound mobility is managed by Bond International through a dedicated Study Abroad and Exchange team. This team works in collaboration with the School Business Director and Associate Dean (External Engagement) and manages the recruitment and service provision for inbound exchange and study abroad students. The Exchange and Study Abroad office oversees the allocation of funding which is available to eligible students who wish to undertake an overseas study or work placement during their program to assist towards their travel and living expenses. The School has an international research profile as discussed in Chapter 5 and a range of strategic actions to continue to improve that profile. It supports this by allocating faculty time for research, while also having a research budget supporting international activities, for example for attending international conferences.

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8.5

LEVEL OF INTERNATIONALIZATION ON HOME CAMPUS

The School recognizes and is committed to ensuring all students develop a global perspective in their studies and disciplines. Internationalization of the classroom occurs in four ways, through academic staffing, the intercultural mix of students, international curriculum, and opportunities for international experience. Each of these is outlined below.

FACULTY The School has a policy of advertising internationally for faculty. Successful applicants are relocated at the School’s expense and immigration and visa arrangements are organized and funded by the School. The purpose is to create diversity of experience and diversity in academic and research traditions. Faculty is comprised of 13 nationalities. Other key indicators of international experience are included in Table 8-1.

Table 8-1: Internationalization of Core Faculty

Born outside of Australia

Proportion of faculty 47%

Have Worked Overseas

41%

Speak a language other than English Single International Nationality (hold overseas passport) Hold Dual Nationality (hold overseas and Australian passport) Have Studied Overseas: PhD from overseas

27% 14%

Countries Represented Czech Republic, UK, USA, India, Bangladesh, Ireland, Italy, Sweden, Germany, Canada, New Zealand, China, Wales Singapore, USA, Japan, Kathmandu, UK, India, Canada, Pakistan, New Zealand, South Africa, Germany, Switzerland, Denmark, Hong Kong, France, Bangladesh, Malaysia, China, Japan, Thailand

14% 33% 31% 12

The School further enhances the international content of its Faculty through hosting distinguished visiting professors from a range of institutions reflecting its recognition and reputation amongst international scholars. Examples of the visiting professors to the School during 2018-2029 were included in Chapter 5.

STUDENT DIVERSITY International diversity is well reflected through the origins of students. As noted in Chapter 1, international students make up 32% of the School’s on-campus full degree enrolments, and exchange and study tour students increase this to a total of 45% of total enrolments being international. This excludes the students in the Japanese MBA, who are all international and make up 17% of the total student body. The on-campus students are from a diverse range of countries (approximately 50 countries). Figure 8-1 provides some more detail around diversity of the international student body, extending from the discussion in Chapter 3. As noted, international student numbers have been impacted by the pandemic – not just in a reduction in the

Or 38% of those with a PhD

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numbers enrolled, but also in that of those who are enrolled (new and continuing) a proportion are studying from abroad and not attending the campus.

Figure 8-1: Country of Origin of BBS Full Degree International Business Students 2020 (exc BBT Japan)

Note that international students coming from Australia have been in Australia for secondary schooling and move on to University The proportion of international students enrolled by program within the School is shown in Table 8-2. Diversity among students provides a spirit of internationalization within the classroom experience.

Table 8-2: Proportion of International Students in Bond Business School (Sept) Program

2018

2019

2020

Bachelor of Actuarial Science

13%

17%

14%

Bachelor of Business

38%

36%

31%

71%

Bachelor of Commerce

21%

26%

22%

Bachelor of International Hotel & Tourism Management

81%

80%

81%

Bachelor of Sport Management

26%

23%

33%

Masters of Accounting

81%

75%

53%

Masters of Actuarial Practice/Science

39%

35%

29%

Masters of Business

91%

97%

89%

69%

71%

Masters of Finance/ Financial Management

75%

68%

43%

Masters of Sport Management

78%

67%

MBA

51%

31%

EMBA

Bond University-BBT Global Leadership MBA

100%

HDR

35%

26%

29%

Overall

50%

49%

45%

Bachelor of Business Data Analytics

Masters of Business Data Analytics

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This diversity is particularly distinctive from other Australian business schools, as illustrated in Table 8-3.

Table 8-3: Country of Origin of International Students – BBS versus other Australian Schools BBS

Go8 Business Schools

Other Aus Unis – BUS Discipline

PR China

28%

57%

45%

India

17%

10%

Europe

12%

USA/Canada

Japan

Other

30%

34%

42%

Data for BBS is 2018-2020, while data for other schools is the latest available at 2017-2019 Study abroad and exchange students add a further level of internationalization within the class environment. Such diversity enables teaching staff to form cross-cultural teams of students to engage in debate and discussion and work on class activities and in assessment teams. This provides students an authentic way of learning from international peers within subjects. The origin of inbound exchange students into the School is shown in Figure 8-2, and study abroad in Figure 8-3. Over the period 2018-20, 47 exchange students came to Bond and did Business School subjects with an additional 679 study aboard students. As illustrated Figure 1-3, study abroad and exchange had grown in 2015 and 2015 and then stabilized over the next few years, becoming a substantial part of the Business School makeup, delivering both student engagement and financial outcomes. In 2020 and 2021 this is the area that has been most significantly hit by the impacts of the pandemic). The rebuilding of these outcomes through partnerships will be a high priority in the coming months with the prospects of international travel resuming.

Figure 8-2: Inbound Exchange Students by Region – 2018-2020

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Figure 8-3: Inbound Study Abroad Students by Region – 2018-2020

8.6

INTERNATIONAL CURRICULUM

As discussed in Chapter 2, global awareness of students is a focus of the School, acknowledged in the five core strategic goals and directly included in the learning goals of every program. Therefore, as described in Chapter 2, the curriculum is designed to ensure those intended learning goals are addressed and measured on an ongoing basis. Table 8-4 indicates the approximate proportion of subjects taught which contain various indicators of international curriculum input, based on faculty feedback.

Table 8-4: Aspects of Internationalization Within Subjects Feature International edition textbook International visiting speakers in classes Cultural diversity of students embedded in class activities International real world examples and cases used

Proportion of Subjects 70% 45% 75% 90%

International themes are also embedded in programs. Specific examples include: •

•

Bachelor of Commerce – Students in the Finance major are required to complete a subject in International Finance. The curriculum within this major is accredited by the international accrediting body, Chartered Financial Analysts Institute (CFA). Those doing the Economics major do a subject in International Trade. All curriculum associated with the accounting major is accredited by the peak accounting organizations and covers the international accounting standards. Students enrolled in the Bachelor of Commerce can enroll in an international study tour subject as an elective in their program of study. They are provided the opportunity to undertake an international exchange or study abroad semester. Master of Finance/Master of Financial Management – Given the international nature of the finance profession, these programs place strong emphasis on the case study method, requiring students to focus on international finance challenges, problems and solutions through international cases. All students in these programs complete one or more of their subjects in the Fintech Hub which provides opportunities to access and analyze international trade, finance and investment data through the Bloomberg terminals. Students have ongoing access to this facility during their program of study enabling them to explore global

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•

financial data and events throughout their studies. All students are also required to undertake a dedicated subject in International Financial Management. Master of Business Administration - The international perspective of the MBA program includes a subject in International Business and benefiting from of a cross-cultural cohort with 30% of the students being of international origin in 2018 and 2019. On campus MBA students are encouraged to take subjects with the Japanese BBT students during the BBT MBA study tours. In addition they often take subjects from the Master of Business/Management as electives and thereby engage with the large number of international students in this program. HDR students: o Master of Philosophy – 33% are international. o Doctor of Philosophy – 27% are international. These research focused candidates can be involved in a range of networks which are international in reach through presentation and attendance at international conferences. In addition to their supervisory team, they are also encouraged to seek guidance from the various international scholars who visit the School.

There are significant campus experiences which link the School to the international corporate world. The School is well connected to global businesses who operate locally, especially within the hotel and tourism industries due to its status as an international tourist destination. As noted in Chapter 10, several of these businesses are represented on one of our Advisory Boards. Several board members have held senior management positions outside of Australia prior to their appointments locally. In some instances, these board member relationships have the potential to lead to deeper engagement with these businesses at a global level. For example, the Bond-Marriott China Hotel and Tourism Management agreement provides Bond students from China with an opportunity to work for the hotel chain in South- East Queensland. On completion of their studies, these Chinese students can interview for full time employment at a Marriott property within the AsiaPacific region. Other international internship or work experience opportunities are based on connections with Advisory Board members. Several international corporations visit campus regularly as part of the Career Development Centre’s employment and graduate recruitment services (Chapter 3). The School’s international alumni themselves enable connections to the corporate world internationally through their global reach. Alumni are widely dispersed internationally and the University and School has significantly increased the focus on engaging with international alumni (Chapter 3).

8.7

LEVEL OF INTERNATIONALIZATION OUTSIDE THE HOME COUNTRY

ALUMNI PROFILE Post-graduation our alumni base themselves in countries all over the world. See Table 8-5 below for the top 10 countries our students come from and the top 10 countries they reside in currently. Common organizations our graduates work for include KPMG, PwC, EY, National Australia Bank, Deloitte and Accenture to name a few. The top five most common job titles for our graduates currently are Director, Managing Director, Manager, Owner and CEO.

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Table 8-5: Geographic Distribution of Business School Alumni – Top 10 countries

1 2 3 4 5 6 7 8 9 10

Country of Origin

Japan South Africa China India Norway Germany United States Of America Sweden Taiwan Malaysia

1,429 896 640 473 323 294 262 225 197 187

1 2 3 4 5 6 7 8 9 10

Current Country (Postal)

Australia Japan South Africa United States of America Germany India Norway China United Kingdom Sweden

4,035 1,075 492 254 236 234 229 216 142 139

Source: Bond University Alumni Database, February 2021

BBT MBA PROGRAM The School is the only Australian business school with significant links in Japan especially in the context of delivering a program, and up until recently the only international business school with a footprint in Japan beyond exchange type relationship and some research links. This long-term partnership with BBT University, a private University in Japan with managing director Dr Kenichi Ohmae (http://www.economist.com/node/14031208), delivers benefits to the School and its alumni. Japan is the world’s third largest economy, Australia’s second largest trading partner, and the 6th largest source of international tourists to Australia. This program has historically had of the order of 200 students enrolled in its BBT MBA in Global Leadership, studying part time, sometimes reaching up to 300. It is now approaching 1,500 graduates from the program and 2021 is the 20- year anniversary of the program. Its alumni are achieving quite senior positions in Japanese industry, both in Japan and globally. This mixed mode program delivers subjects in on-line form, but a core feature is the compulsory study tour component. Consistent with our commitment to the one-by-one student experience, every student is required to undertake at least two study tours to the Gold Coast which are offered three times a year, with the School hosting between 60 and 80 students for intensive classes over eight days. During these study tours, Japanese students are given opportunities to interact with local students, with five to ten on-campus students taking the opportunity to take part in these study tour subjects, with alumni, and with the corporate community through events and industry visits. Figure 8-4 shows the enrolments into this program over the last three years. In 2018 the School actively initiated several core changes to build the numbers, and this has started to have some effect, despite COVID constraints. The major changes that occurred in 2018 included: •

•

Investment in product upgrade to ensure our online delivery makes uses of the latest presentation options, for example high definition engaging video lectures, practical application of animation, use of ‘lightboard’ presentation, and with teaching faculty trained in software to be able to continually adapt into the future. Reinforcing the value in the compulsory study tours: o Changes to study tours to improve the study tour experience, including additional workshops on English communication skills and on applied research skills, visits to internationally oriented businesses, campus visits by industry.

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Research into students – after each study tour a survey of students participating is undertaken to elicit feedback, to ask for suggestions for improvement. o Revised marketing product – the School has developed a range of marketing materials to emphasize the value experience in the study tour. Overall revamp of marketing - the partner institution in Japan, who is responsible for marketing and recruitment, with support from Bond has revamped their marketing materials and message, increasing their emphasis on the value of the study tour and the changed emphasis on the new curriculum. Expansion of project market base to introduce the All English pathway. o

•

Figure 8-4: BBT MBA Student Numbers

There was a major focus on further building the brand and extending the level of activity in 2019, as discussed in Chapter 1, and more was planned for 2020 , but this was substantially slowed due to COVID. Rather our attention turned to shoring up the numbers in the program, and ensuring that the study tour experience which has temporarily moved to online did not disadvantage students. Students have been accepting and patient but have expressed that they are looking forward to a return to normal. Figure 8-5 provides a summary of the student profiles for the BBT program. The average student age is 39, and they have an average of 11 years management work experience. Sixty-eight percent are in management and senior management. Some 15% of students are Japanese citizens who live and work outside of Japan at the time of their study.

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Figure 8-5: BBT MBA Student Profile

AGE (AVE 38.75 YRS)

GENDER

30 to 40 60%

Female 36%

under 30 3% over 50 2%

Male 64%

41 to 50 35%

YRS OF EXPERIENCE (AVE 20 more 5% 16 to 20 10%

11.2 YRS)

POSITION

1 to 5 3%

Supervisor 5%

Manager 50%

6 to 10 46% 11 to 15 36%

Staff 7% Senior Staff 17%

Director 5% Managing Director Executive 3% 13%

INDUSTRY Other 24%

Healthcare 29%

Trade 9% Finance 7%

Manufactures (Consumer& Enterprise) 13%

IT 9%

Service 9%

The program requires students to complete 120 credit points subjects. The program has undergone a major revision in 2017, simplifying the structure and increasing the emphasis on the School core value propositions of entrepreneurship and data analysis. At the same time there has been a significant investment in upgrading the on-line materials that underpin the on-line courses. The on-line subjects run weekly interactive webinars

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(virtual classrooms) though the Blackboard Collaborate platform providing students with the opportunity to engage with their instructors as well as each other. The program is aimed at enhancing the Japanese manager’s approach to cross cultural business and work environments. Faculty set international case studies, readings and editions of textbooks. Class discussion is set in an international context and global themes are embedded throughout the program. The structure of the program is summarized as: • • •

•

Two core subjects (10 credit points each) are taught in Japanese by BBT faculty, with a key corporate strategy subject being taught directly by Dr Kenichi Ohmae. The other 6 core subjects (10 credit points each) are taken in English and taught by Bond faculty. While mostly online, one of those subjects is a capstone ‘Business Planning for Entrepreneurial Ventures’ where students form groups and develop and pitch a business plan for a new business proposal, and this is taken across the two compulsory study tours. Students take a further 40 credit points in 5 credit point electives (with a minimum of 40% in English).

A major initiative of the School under the current strategy has been to extend this program, based on preparatory work in 2016 and 2017. In 2018 an All English pathway was launched. The aim was to extend the attractiveness of the program to those who would prefer to study all in English, or do not speak sufficient Japanese to study in the standard program, while having an interest in the role of Japan and South East Asia in the global economic framework. It is part of the reason for the recent expansion of numbers, attracting small but consistent growth, which we expect to grow further into the future. More recently a high priority for 2019 and 2020 was for the School and University to significantly invest in our brand and presence in the Japanese market, as a unique point of difference for the School and core to our internationalization strategy, Strategic plan basis –1.3.3, 2.1.3, and 3.1.3. We developed an action plan which involved working with our alumni based in Japan, our partner institution in Japan, Bond University’s Vice President for Engagement, and the Alumni office, and we set about this as follows: •

•

• • • •

•

Six senior representatives of the University, including the President/Vice Chancellor, two Vice Presidents and Executive Dean of the Business School, visited Japan for over one week in September 2019, with the following activities undertaken to take advantage of the opportunities created by the Rugby World Cup. Conducted an alumni function with a panel on leadership examples from Rugby, including a leadership academic from our partner institution who is a coach of the Japanese rugby side, and two alumni who played national representative rugby for Australia. Over 100 people attended this event and it provided extensive engagement opportunities. Attended a Rugby World Cup Function at Australian Embassy. Hosted key stakeholders, including Australian and Japanese alumni, at Rugby World Cup game and engagement event. Met with alumni about engagement with case studies and corporate education. Attended a Tokyo graduation recognition ceremony of the Bond BBT MBA graduates. Note that formal graduations occur throughout the year and 25% of graduates return to Bond for these events, along with the President of our partner institution. The Tokyo ceremony is a recognition of all graduates of this program, including those who did not attend at the Bond events. A visit by two faculty to Tokyo held in November 2019 to host a Masterclass, as discussed above, with an additional faculty member contributing via Zoom. Attendees were surveyed to ascertain interest in future topics and feedback about presentation preferences, with very positive responses to the class. A visit by three faculty to Tokyo in January 2020 to hold the second Masterclass, as discussed above.

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The anticipated acceleration and investment in this plan have been substantially slowed due to COVID-19 and as such the following actions have been taken (Strategic plan basis –1.3.2): •

•

The BBT MBA program requires students to undertake study tours to Bond twice during their program. Cessation of international travel to and from Australia has prevented those tours in the May and September 2020 and January and May 2021 semesters and the normal study tours were transferred to online delivery mode. Feedback from the students has been very good, though they are looking forward to resumption of the on-campus study tour as an option. Worked with Bond University College and their English language teachers to develop English Language testing, as the testing centers in Japan were operationally restricted due to COVID-19 to ensure our English Language entry, and this has evolved into planning for the provision of English professional development courses for our students, alumni, and others. Replaced our normal attendance at the 2020 Tokyo graduation with a pre-recorded congratulations video featuring the Vice Chancellor, the Executive Dean of Business, and the Academic Director of the BBT Program.

The Action plan as was initiated as above therefore, becomes a priority for when borders open and we reengage the components of the plan involving travel, hopefully late 2021.

STUDENT EXCHANGE, GLOBAL STUDY TOURS The School offers a range of other international opportunities including: •

Outbound Exchange Programs – The School has over 20 exchange partnerships with overseas institutions which provide opportunities for its students to study on exchange in eight countries. Around 7% of the domestic undergraduate senior student base take the opportunity for an exchange each year and Figure 8-6 illustrates the destinations chosen by students. Clearly exchange has not been an option from the May semester 2020.

Figure 8-6: Outbound Exchanges by Region – 2018-2019 Other, 5%

Asia, 17% North America, 45%

UK, 4% Europe (ex UK), 29%

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•

International study tours With only 7% of undergraduate students undertaking part in exchange programs, the School invests in providing additional shorter study tour options that will provide a broader range of students with the opportunity for “As a student majoring in International a global learning exchange. The School has run for several Business, the China Study Tour was a huge years, the following: opportunity not only for my degree but for my future career. China is very different from o The Global Business Study Tour (PG)/China Study Tour Australia - it is such an amazing experience (UG) –This tour has run for 15 years and is a for- credit to be able to discover a new culture and learn subject comprised of pre-tour academic classes; posthow they do business, negotiate, and sign tour assessment items; and a range of industry site and deals. It is also very captivating to visit cultural visits in China lasting 10 days. The tour is companies implemented in China and hear developed, organized and conducted by faculty who their journeys, not only the successes but work in collaboration with business and government obstacles they may have encountered during institutions in China. The School is looking to expand its their start-up and how they overcame this.” study tour offerings. The average cohort has been 25 Clarisse Lafleur Master of Business students, mostly from the EMBA and MBA, but also o

including some undergraduate students. The Silicon Valley tour has been run since 2015 and is primarily an opportunity for students with an entrepreneurship focus, and attracts around 20 students “The insight you get from a study tour is from a broad range of the School’s programs. Again, something you just can’t learn from reading a they participate in lectures and briefings (for example textbook or sitting in a classroom. The from Stanford professors) and industry visits to large amount I learnt in one week in Silicon Valley (e.g. Google) and small entrepreneurial ventures. was amazing and I’m still thinking about I can Feedback from students on both study tours is apply the knowledge and information I overwhelmingly positive. gained” Tim Tew MBA student. In 2018 the School coordinated a “Myriad Tour” as part of the Myriad sponsorship arrangement. Myriad is an international entrepreneurship festival. A group of 20 Bond students, alumni, industry connections and staff were part of the Myriad mission to Silicon Valley returning to Brisbane on a chartered flight with 150 Entrepreneurs from the Valley. The University allocated strategic funds to support this activity. Participants visited Silicon Valley businesses to learn from successful entrepreneurs and had the ‘once in a lifetime’ opportunity to network on the chartered flight back to Brisbane. Bond University hosted seven of the selected entrepreneurs for an on-campus event to provide an opportunity for the wider student population, alumni and industry connections to engage with the entrepreneurs. Bond was similarly involved in the 2019 Myriad event with 5 students participating in an event hosted in Brisbane. The School was planning an additional study tour to South East Asia in 2020, but due to the COVID constraints all of these have been put on hold and the School will revisit plans for 2022 later in the year as travel options become clearer. •

South-East Asia Study Tour – The newly created SE Asia Study Tour (currently on hold due to COIVD-19) will provide an immersive experience and insights to doing business in developing economies. The tour focuses on the business opportunities in manufacturing, transport and logistics in the leisure, hospitality and tourism sectors. The ST will run for 10 days with various site visits where students will learn strategies and business opportunities across a range of

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•

industries. This study tour has an expected enrolment of 25, most students being undergraduate, however is also available to postgraduate students. • The Asia Study Tour (Japan) scheduled to run for the first time in 2020, is currently on hold due to COVID-19 offers a unique perspective on conducting business in a foreign market. Japan as one of Australia’s major trading partners will provide direct exposure to the challenges and opportunities of working in the global business environment. Utilizing site visits, industry and government speakers and practical exercises, students will develop executive-level insights into international business relations. Participants are expected to integrate their executive experience, theoretical knowledge, and insights from the study tour to develop a business case supporting or rejecting the international expansion of an Australian business. The study tour has been designed for postgraduate students, however available to undergraduate students if the criteria are met. International Work Experience/Internships – the School works with the Career Development Centre to establish relevant work experience/internship opportunities overseas as discussed in Chapter 3. The Career Development Centre also provides opportunities for international students to gain work experience in Australia. Table 8-6 indicates the number of placements by students.

Table 8-6: Industry placement statistics of International students by Year International student placements Total student placements

2018 33 101

2019 30 109

2020 44 103

International Exchange Partnerships The School has several exchange and pathways or articulation agreements with international institutions. The School reviews partnership opportunities based on compatibility including the nature of the institution, similarity of program offering, and comparability of content assessed by relevant academic staff through a subject mapping process. As per our international strategy, our exchange partners are divided into three groups: •

•

Strategic partners – these partners will be those that we are targeting to build our exchange relationships from something beyond the current focus to a more holistic perspective, and to increase inter-faculty exchange, opportunities for joint research and potentially joint activity in short courses and other academic pursuits. The targets are to have at least one strategic partner in each region of the world (Europe, North America, Asia, Middle East and Africa). Strategic targets will be accredited institutions (EQUIS/AACSB) and ranked within the world’s top 500 Universities. Their focus needs to be complementary and linked to the three pillars where either we can provide input into a gap in their own focus, or we can build a combined areas of mutual strength. Commercial partners – Australia, and Bond, is an attractive destination for students from around the world looking for an international experience – with advantages in safety, ranking of our higher education institutions, and general climate. This later aspect is particularly significant for study tours and short term exchange. As such relationships with overseas institutions are important for attracting international students into our programs (as full degree masters students or for study tours). Support partners – the School is keen to play a role in improving business education worldwide. As such, it is heavily involved in accreditation networks – but in additional it works with (currently) two institutions to help them improve and meet their own aspirations. These include: o The School serves as an audit partner with Sur University College (SUC), an institution in Oman which is seeking full university status. Bond faculty review curriculum, moderate assessment and

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visit SUC on a periodic basis to review operations. Faculty provide expert advice on running SUC including infrastructure, staffing and its degree structure. This is a process that is overseen by the Omani government’s Ministry of Higher Education, which has approved Bond University as an internationally recognized university with the capacity to ensure that the standards at SUC are up to those of an international level. The School has also recently signed an international partnership with ISM Dortmund to provide PhD programs to their top quality students. ISM Dortmund has ambitions of improving its standing and is starting a journey of international accreditation. It is not registered in Germany to offer PhD education and as such Bond Business School has agreed to take its better students into its PhD program.

Table 8-7 indicates the current partners that the School believes fits the requirements to develop into strategic partners. In addition, we have discussions with other business schools about the potential for relationships going forward, including Copenhagen, Neoma and St Gallen. Many of these discussions occurred with the Dean and Associate Dean Development attended EFMD and AACSB events. However, as headway was being made COVID restrictions limited the next steps, and it is a high priority for the School to rebuild this as soon as it is able, especially in that some of the agreements below are due to be renewed. In the meantime, we have increased our focus on our relationship with Ivey Business School and Western University, as it is a very good fit with other goals of the School and would be a big step in developing a more holistic relationship in a strategic partnership. Western University in Canada currently has an active University level Exchange Agreement with Bond. As part of the relationship, the School coordinates the 39 Countries Initiative on behalf of the University as discussed in Chapter 9, and faculty and the Business Students Association have enthusiastically participated in this. In addition, the relationship with Ivey Business School at Western is integral to the case study network at Bond. The School has in development an extended partnership with Ivey which will focus on Professor Paul Beamish being engaged with the School in a Visiting Professor role and Bond partnering with Ivey in delivering case study workshops in developing countries (the 39 countries supported under the book initiative). This partnership has typically focused on student exchange, but given events in 2020 a high priority has been on ensuring academic engagements underpin this – including case study development and joint research. Bond Business School is now co-branded on all Ivey publications it produces as a mark of its success in this area.

Table 8-7: Potential Strategic Partners with Current Exchange Agreements Institution Agreement Status Bentley University, USA Agreement renewal in progress BI Norwegian Business School, Norway Agreement current EM Strasbourg Business School, France Agreement current Frankfurt School of Finance and Management, Germany Agreement renewal in progress Indian School of Business Agreement renewal in progress Ivey Business School, University of Western Ontario, Canada Agreement renewal in progress EQUIS Reaccreditation Report – 2021

UG/PG

BBS Study Areas

UG only

Accounting & Finance, Business & Management

UG PG

Management, Finance, Accounting, Marketing Management Finance, Marketing, Management, MBA

UG PG

International Business, Management, Marketing Entrepreneurship, International Business, Finance, Marketing

UG PG

Finance, Management, Economics, Marketing MBA, Finance, Management

Business

UG only

Finance, Marketing, Entrepreneurship

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Lund University, Sweden Agreement renewal review in progress Nanyang Technological University, Singapore Agreement renewal review in progress Tsinghua University, China Agreement current expires July 2021 Uppsala University, Sweden Agreement renewal review in progress WHU Otto Beisheim School of Management, Germany Agreement current

UG PG

Business, Economics, Marketing Finance, Accounting, Marketing, Economics, Management

UG only

Finance, Management, Actuarial Science, Marketing, Hospitality & Tourism Management

UG PG

Finance, Accounting, Economics, Management MBA

International Business, Management, Marketing

UG PG

Management, Finance, Entrepreneurship MBA, International Business

The Exchange and Study Abroad office oversees the allocation of funding to assist towards travel and living expenses for eligible students. Students who meet the exchange entry requirements must enroll in the equivalent of a Bond full-time semester load at their host institution. Credit is transferred from the host institution to Bond University enabling students to complete their programs on schedule. The Australian Universities International Directors' Forum/i-graduate survey indicates that for Australian students in 2019 only 23% of domestic undergraduates (or 19% of all levels of cohorts) participated in a learning abroad experience (of any type) during their degree. Only 16% of the total experiences were semester based exchange programs and Bond matches the Australian average for semester exchanges. The School is actively engaged through several international memberships – including accreditation by EQUIS and AACSB and uses those memberships effectively, with senior faculty attending seminars and workshops – and the Vice Chancellor, Dean and Associate Dean Development actively involved in Peer Review Teams, and committees of these organizations. The Dean has undertaken 2 EQUIS Peer Review Visits in 2018 to 2020, with a further visit committed in December 2020. He has also undertaken 3 AACSB visits in 2018-2020 and committed to 3 more in 2021-22. The Dean was recently appointed to the Initial Accreditation Committee (Z) for a three year period. The Associate Dean (Development) (previously a Dean of an AACSB accredited School) is in his third term of the Initial Accreditation Committee (Y) – and has undertaken 5 AACSB PRT visits in 20182020 with 2 committed in 2021, as well as attending and speaking at conferences (of late virtually). The Business School has been a member of Graduate Management Admissions Council (GMAC) since 2016. The Business Director represents the School in GMAC conferences and events including presenting at annual and regional conferences. The School and faculty are also members and in some cases fellows of international associations as shown in Table 8-8. These memberships provide a network of international peers and opportunities to maintain awareness of key issues pertaining to relevant fields of expertise.

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Table 8-8: Examples of Individual Faculty Membership of International Organizations Academy of Management

Chartered Financial Analysts Institute (CFA)

American Marketing Association

Council for Australasian University Tourism and Hospitality Education (CAUTHE)

American Statistical Association

Econometrics Society

American Statistical Association

Institute of Mathematical Statistics

Association for Consumer Research

Institute of Public Accountants (IPA)

Association of Information Systems

International Statistical Institute

Association of MBAs

Royal Statistical Society

Certified Management Accountants (CMA)

Society for Industrial & Organisational Psychology

Certified Practicing Accountants (CPA) In addition, the School has membership of several Australian internationally focused organizations and bodies such as the Australia China Business Council and the Japan Gold Coast Tourism Association. The School’s membership of PRME (Principles for Responsible Management Education – refer to Chapter 9) ensures maintenance of international best practice in ethical responsibility and sustainable business practice. The Dean and School Executive support faculty involvement with international organizations in several ways in non-Covid times including travel to international research and education conferences. The research conferences which faculty members attended over the last five years will be available in the Base Room (Chapter 5 folder).

8.8

Other Activity

INTERNATIONAL RESEARCH AND DEVELOPMENT ACTIVITY Internationalization is evident in the School’s research activity (Chapter 5). Key indicators of this include: • • • •

•

Faculty members have attended 3.5 international conferences on average over the period 2018-2020. 70% of faculty have been involved in research projects with an international focus. 75% of faculty have published research in collaboration with international co-authors in the last 5 years. Research collaborations have included the USA, Hong Kong, UK, Canada, Pakistan, New Zealand, Finland, Qatar, Korea, South Africa, Iran, Taipei, Singapore, India, Sri Lanka, Oman, Scotland, Malta, Sweden, Germany, Switzerland, Luxembourg, Kuwait, Thailand, China, Macau and Taiwan. Many faculty review articles for international journals and conferences, and several have editorial roles on international journal boards and/or international conference committees.

For further details on the specific nature of research projects and grants which involve international collaborations or country specific foci, please refer to Chapter 5 (Research and Development).

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9 9.1

ETHICS, RESPONSIBILITY AND SUSTAINABILITY STRATEGY

The School is committed to ethical, socially responsible, and sustainable behavior, through its delivery of courses, experiences, partnerships, and relationships. This is framed around the policies and practices of the University but has been extended through a range of strategic measures. Core to the School’s focus is that it became an active member of the Principles for the Responsible Management Education (PRME) initiative in early 2012 and appointed a PRME Committee in 2014. The PRME Committee keeps track of active approaches within the School to advance these aspects in teaching, research and operation, and recommends initiatives in this regard. This includes the establishment of an annual €3,400 competitive research grant to support work specifically in the areas of business ethics, CSR and sustainability. The School’s PRME Annual Report for 2019-2020 is provided in the Base Room (Chapter 9 folder). The School, with the support of the University, has engaged in several significant activities that represent its commitment to ethical business practice and sustainability. Among these activities are: •

• • • • • • •

9.2

Promoting student community engagement and activities aimed at raising funds and assisting community groups and individuals. The School through its students, has raised over €74,000 for charity over the past three years. Minimizing printing in favor of electronic learning resources for students, made available through each subjects iLearn site. Favor textbooks with e-book versions, and encourages students to buy electronic texts. Increase the use of recyclable items throughout the University. Collecting unwanted texts from faculty and students for distribution to students and schools in developing countries through the 39-country initiative, partnering with Ivey Business School in Canada. Making available recycling bins around offices and around campus. Making available ergonomic sit and stand workstations in faculty offices upon request with many faculty and staff having taken this up. Providing on-campus access to a medical practice, counselling, and free gym membership and classes to staff and students.

INTEGRATION OF ETHICS, RESPONSIBILITY, AND SUSTAINABILITY TO EDUCATIONAL OFFERINGS

Ethical values have been a consistent theme within the University, whereby all undergraduate students must enroll in a core subject titled Responsibility, Integrity and Civic Discourse. Students gain the critical tools to effectively respond to the moral challenges in their personal, civic, professional, and global contexts. The learning objectives are: 1. 2. 3.

Demonstrate knowledge and understanding of critical decision-making skills regarding issues of responsible action. Demonstrate skills of analysis, reasoning, communication, and cooperation with which to address issues of responsible action. Demonstrate the ability to implement and promote responsible decision making in personal, professional, and global contexts.

Within the School, it is an expressly stated desire to produce graduates who not only have an entrepreneurial approach to business but also have a responsible and ethical approach to their business activities. This is represented in the emphasis on the intended learning outcomes of responsibility and ethical behavior. Over EQUIS Reaccreditation Report – 2021

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the last few years, the achievement of graduates against these outcomes has been assessed within the designated capstone in most of the School’s programs and where measurement has demonstrated gaps, recommended activities to improve the outcomes as discussed below. An annual survey of faculty demonstrated the following results for 2020: • 69.2% of subjects (45 subjects) included general issues of business ethics (e.g., Bribery, ethical dilemmas in business, violation of reporting standards etc.). • 30.8% of subjects (20 subjects) included general business related to CSR (e.g., corporate philanthropy, triple bottom line, etc.). • 36.9% of subjects (24 subjects) included general issues related to sustainability. • Overall, 73.8% of subjects (48 subjects) included general issues related to business ethics, CSR and/or sustainability. While COVID-19 had an impact on the overall number of subjects taught by the School in 2020 (see Chapter 2), the above statistics were similar to findings from 2017, however, overall inclusion of ERS in subjects has increased. In addition, academic staff reported whether their subjects covered any professional codes of conduct. The results indicated that 27.7% of subjects (18 subjects) covered professional codes of conduct or regulations, as follows: • • • • • • • • •

Auditing standards. APES 110 Code of Ethics for Professional Accountants. Clarity in Pricing Legislation. Financial Adviser Standards and Ethics Authority Code of Ethics. International Valuation Standards Council Code of Ethical. Principles for Professional Valuers. National Statement on Ethical Conduct in Human Research. Privacy Laws. Tax Agent Services Act.

For example, in Corporate Finance (Code: FINC13-301), students must register and demonstrate their ability to engage in ethical thought by successful completion of the CFA ethics modules and exams. Several different teaching approaches and teaching techniques are utilized in relation to teaching business ethics, CSR and sustainability issues at the School. Within the 48 subjects that covered these issues in 2020, the most prevalent teaching approaches and teaching techniques were: • • •

Use of case studies (e.g., Harvard/Ivey cases) – 47.9% of subjects (23 subjects). Group work (e.g. major group component) -25.0% of subjects (12 subjects). Use of real-world projects/service learning (e.g., developing environmental sustainability plans) - 18.8% of subjects (9 subjects).

For example, in Event Management (Code: HRTM12-209), the students’ major assessment piece consists of a group project that is built around the conception, formulation, marketing, operationalization, and assessment of their own events. Students are instructed to identify a social cause that resonates with their event's core market, and to then identify and partner with a local not-for-profit related to that social cause. They must work out how they can best contribute through their respective events to alleviating this identified social/environmental issue/cause and thus help their NFP partner - whether that be through fundraising, building awareness, volunteering, etc.

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9.3

INTEGRATION OF ETHICS, RESPONSIBILITY, AND SUSTAINABILITY TO RESEARCH ACTIVITIES

Academic staff commitment to the areas of ethics, social responsibility and sustainability is evidenced by the significant publication emphasis of both core and non-core faculty, with 35 journal, book and conference papers published or presented in the publication reporting window, 2018-2021. The detail of the publications is included as Appendix 5.4. The publications include 24 PRJ’s (4 A*, 13 A, 5 B, 1 C and 1 unranked in the ABDC list, including 3 articles in the FT50 listed Journal of Business Ethics), 5 conference papers, and 6 other intellectual contributions.

9.4

CONTRIBUTIONS TO THE WIDER COMMUNITY

Chapter 10 on Connections with Practice provides detail with respect to the interaction between the School and the wider community. The nature and extent of the various organizations’ contribution to the School’s ERS priorities are summarized in the following activities:

CONNECTIONS WITH PRACTICE: •

• • •

Hosting the Business Leaders Forum and Business Links events each semester - including ERS themes and speakers (see Appendix 10.2). Corporate connection willing to participate as key-note speakers or panel members for each event. Advisory Board participation - contributions from partners drive strategy, engagement with industry, course content and student experience. Guest presenters – most courses in the School rely heavily on the willingness of corporate partners to present in class, or virtually to students on industry specific topics within ERS. Work experience and internship opportunities – corporate connections offer ongoing work experience opportunities to students, as well as internships which are often paid.

PUBLIC ENGAGEMENT (POLICY AND PRACTITIONER): • •

9.5

The School’s membership of the UN PRME Committee is a core emphasis in progressing the ERS agenda. THE PRME membership advances the ERS agenda through teaching, research and operations. The School’s programs are accredited by relevant professional bodies such as, the Actuaries Institute, the Chartered Accountants Australia and New Zealand (CAANZ), CPA Australia, The Institute of Public Accountants and Chartered Financial Analyst Institute.

COMMUNITY OUTREACH ACTIVITIES

Aside from individual contributions made by the academics and students, documented below, the School has a leading position in the community in terms of education, research and action. Locally the School connects with the community through various events it hosts and gives opinions on issues ranging from climate change, demographic change, financial scandals which are sought by local media outlets including radio, television and newspapers. Faculty members present cutting edge ideas to local high school students. Below are some examples of the School’s community engagement at local and international level.

Student Philanthropy Council This student-led organization was created to develop a culture of philanthropy among students and promotes an appreciation of the impact that donations make to helping students achieve their full potential. EQUIS Reaccreditation Report – 2021

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SUR UNIVERSITY COLLEGE, OMAN The School plays an important role in supporting the development of a new private university in Oman, established in 2001. Melbourne University Private initially provided Quality Assurance certification for SUC as required by the Ministry for Higher Education in Oman. Bond University took over this responsibility in 2006 and a Professor from the School was appointed as the Director of Quality Assurance Program for SUC. Under the QA agreement, a Bond University representative visits SUC twice a year to assess the quality of teaching and research, identify problem areas and make suggestions for improvements. TRANSFORMER The Transformer is open to students from across the University and as such many of the projects undertaken are not purely business in orientation, but rather address social issues and problems. Some examples of such projects are available within Appendix 1.5, and a full list of projects will be included in the Chapter 1 folder in the Base Room.

BUSINESS MODEL GENERATION (BMG) AND BUSINESS MODEL EXECUTION (BMX) In 2016, the School launched a new highly experiential two-subject capstone unit for the Bachelor of Business. Students initially enroll in Business Model Generation and in small teams are challenged to generate, explore, test and refine business ideas through an iterative ideation process based largely on design thinking. The primary deliverable of this first subject is a well-developed business concept that can be launched in the subsequent subject (Business Model Execution) with up to €1,900 of start-up funding provided by the School through a process that simulates a venture capital pitch presentation. The next semester in BMX, large teams of 8-12 students work together to launch, operate and ultimately shut down the business they designed the previous semester in BMG. The main purpose of this two-semester capstone is to provide an integrative learning experience for students through a real, practical business challenge to help them apply and extend what they have learned throughout their Bachelor of Business program. The outcomes of these team projects provide a clear indicator of student learning and engagement. Since its introduction in September 2016, over 300 BMG-BMX students in 31 teams have created businesses generating over €62,620 in profits, all of which has been donated to student-selected charities such as Starlight Children’s Foundation, Beyond Blue, A21, Salvation Army and Drought Angels. The most successful project raised over €16,740 for Project Hui, an organization that works for shark conservation and conservation-related education in Indonesia. Student projects and the work they have done for charity have been profiled on ABC News Radio, Channel 7 News, The Today Show, Sunrise, The Gold Coast Bulletin and The Brisbane Courier Mail. Since this program was launched (until January semester 2021), student groups have undertaken 31 projects with the following outcomes (see full detail in Appendix 9.1): • • • •

Total revenue of €108,100 (average of €3,486 per project). Total cost of €43,110 (average of €1,391). A net profit of €630,250 (average of €2,040). Attracted total donations of €64,660 (average of €2,086 per group).

INDIGENOUS STUDENT SUPPORT AND SCHOLARSHIPS The University established the Pathways and Partnerships portfolio, the key objective of which is the development of pathways from school to tertiary education with a target of improving long-term career opportunities for Indigenous young people. The University opened the Nyombil Indigenous Support Centre in

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2012, bringing together community members, elders, students and University staff to celebrate campus Indigenous life. This is a four-prong connected approach comprising of academic support, pastoral and cultural support (Nyombil Centre and Elder in Residence), financial support (scholarship and bursary program) and career support (Career Development Centre) to assist Aboriginal and Torres Strait Islander students successfully complete their programs. Outcomes have been very positive. In 2019 the national success rate for Indigenous students was 71% while Bond University’s Indigenous student success rate was 90.94%. This represented an increase from 81.74% in 2016, and a further increase from 85.98% in 2018. A total of 67 full tuition scholarships have been awarded to Indigenous students, representing an investment of €4 million. Significantly, the University receives no government funding for these scholarships with funds being raised through corporate sponsorships, philanthropy and the University’s own contribution.

BOND INDIGENOUS AWARENESS SOCIETY The Bond Indigenous Awareness Society (BIAS) was established in 2010 by the University’s Indigenous students to raise awareness of Indigenous issues and to provide a forum for all students on campus and in the local community. Details of BIAS’ activities are at https://www.facebook.com/pages/Bond-Indigenous-AwarenessSociety/540490955996259.

STUDENT-RUN EVENTS Students in the Responsible and Sustainable Business course organize significant ethics, CSR or sustainability events which include community involvement. For example, an event organized by the Bond investment Group in 2019, saw the founder and CEO of Oz Harvest, Ronni Kahn present to attendees from Bond and the wider community. Oz Harvest is Australia’s largest food rescue organization, whereby food waste is collected and cooked into meals for the less fortunate. This event, increased awareness for Oz Harvest and engaged students to work with the charity moving forward. The event was attended by nearly 150 students and local community members. The Business Students Association is running a TedX event in July 2021.

Faculty Community Involvement Nearly half of all the School’s academics contribute to the local community in some capacity. Examples of the community activities participated in by faculty include: • • • •

• •

Advisory Board, Gold Coast Waterways Authority Board Member, Paddle Australia Board Member, UniSport Australia Founder & Director FreddyMatch (volunteer matching charity) Chairman, Meals on Wheels Member of Lions Club, Tallebudgera

• • •

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Member, Gold Coast Hindu Association Member, Vendanta Satsang Group Charity Director, SuperMax & Bryce (charity serving children with cancer) Chair, CPA Australia Advisory Committee, Kaplan Business School Board Member, Bonogin Valley Rural Fire Brigade

• • • •

•

Board Member, Founders Forum Champion for Gold Coast Tourism Ambassadors Circle Volunteer at Mind Heart Connect Conference Volunteer, Treasurer for fund raising events, Breast Cancer Research Volunteer, Make-A-Wish Foundation

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10 CONNECTIONS WITH PRACTICE 10.1 CORPORATE RELATIONS STRATEGY Building tomorrow’s business leaders one by one cannot occur in academe without significant and meaningful engagement with corporate partners. The School believes that a strong connection to business is essential to ensure its programs retain their industry relevance; meet the graduate outcome expectations of the business community and potential employers; and provide skills and knowledge that enable graduates to be workready. The School’s approach to corporate engagement also acknowledges that as a leading business school, it can assist industry partners to achieve their own business objectives by providing professional development opportunities through networking events and postgraduate programs; supporting partners’ own events through sponsorships and participation; providing current and future members of their workforce through the University’s work experience and internship programs and ultimately the School’s graduates; and providing expertise and knowledge through staff and student research projects. Support of external partners, in turn, benefits the School through raised awareness of programs, enhanced curriculum, provision of work-integrated learning activities for students, and research project and funding opportunities. Appendix 10.1 provides an outline of the active industry partnerships in place in the School.

10.2 CUSTOMER ORIENTATION The Associate Dean (External Engagement) role is supported by an administrator role in the form of an External Engagement and Marketing Manager. These two roles work in collaboration with the Dean and School Business Director to support the School’s engagement with industry through the operation of its Advisory Boards, hosting of two key industry networking event series (six events per year), involvement in business community events and connection with its own business alumni. Specific initiatives are outlined in further detail later in this chapter. The ADEE role is a key point of contact with the University’s Office of External Engagement which has general oversight of the University’s engagement with industry, schools and other external stakeholders in the community. Two Industry Advisory Boards underpin the School’s engagement with the business community: •

•

The School of Business Industry Advisory Board was formally established in 2013 with a mandate to provide general strategic guidance for all aspects of the School’s operations. In 2016, the Board was renamed The Bond Business School Advisory Board and was revamped by the new Dean. The Hotel and Tourism Industry Advisory Board (HTIAB) was established in 2008 to oversee the introduction of the School’s Bachelor of International Hotel and Tourism Management program which commenced in 2009. It meets three times a year and remains an active and supportive group.

The School works in partnership with the Career Development Centre (CDC) which, as outlined in Chapter 3, focusses on an industry-engaged experience for students during their studies. The CDC maintains, manages and develops opportunities for the School’s students to undertake work experience and internship opportunities. In addition, the School works with the University central operated Transformation Collab in delivering the ‘Beyond Bond’ core program, established in 2014 to ensure that all students from the University have engaged in relevant Work-Integrated Learning (WIL) activities. The Career Development Centre provides a broad range of services to employers at no cost. Chapter 3 details the activities and engagement of the CDC.

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The activities outlined above that demonstrate the School’s engagement with the corporate world, are not only underpinned by formal management structures, but are also ultimately supported by many staff within the School who engage with the business community individually in various ways including: • • • •

Involvement of industry projects and guest speakers in the courses they teach. Participation in various industry forums and professional networking events. Involvement with professional accrediting bodies. Conduct of industry-relevant research.

One example of formal management structures underpinning our Connections with Practice is the creation of a partnership between Bond University and the World Surf League (WSL). This partnership was initiated by the School’s sport management academic Associate Professor Danny O’Brien in 2019 through his close connections with the surf industry. This partnership has provided an opportunity to utilize WSL CEO Scott Hargraves as a guest presenter to the sport management students, provided student access behind the scenes at events such as the Quicksilver pro, and finally the partnership created three formal internships annually for students with the World Surf League. It is envisaged future research projects may also be an outcome of this project. The individual engagement of industry by staff, is captured through an online survey distributed twice a year, allowing the ADEE to grow and nurture key stakeholder relationships that are valuable to the School. In turn, these industry contacts are invited to events, research presentations, and other School or University-wide events. The strategy is in part ensuring the strong engagement outcomes achieved over several years are maintained and strengthened. Major new opportunities have arisen with the establishment of the research pillars as described in Chapter 5.

10.3 COVID-19 CHALLENGES AND OPPORTUNITIES The impact of COVID-19 in 2020 and 2021 on Connections with Practice and relationships was evident from April 2020 onwards, with no face-to-face classes in Semester 2 (202), and limited students returning in Semester 3 (203). Despite the challenges, strong relationships with industry connections ensured academic staff could access industry guest presenters virtually, whereby most BBS courses in 2020 incorporated virtual presenters in class to engage students, while continuing to foster important Connections with Practice. In 2020, limited face-to-face events could occur and as such the School did not run the Business Leaders Forum or the Business Links events after March 2020. An opportunity arose to assist local business by developing resources that would offer advice through the challenging times of the pandemic and bushfires of 2019/2020. As a request from the Business Council of Australia, the School professionally produced a video series titled Business NOW! focusing on the importance of business fundamentals, across a variety of industry. Each video included a School academic with a panel of industry experts. Together, they discussed theory and practice, offering advice for businesses hit hard by the pandemic and/or bushfires. The videos were produced by Bond’s Film and Television staff and students, and included the following themes: Business NOW! Introduction to Business Fundamentals (Part 1 & 2) • Academic: Professor Justin Craig • Panel: Steven Lutz, Director, Lutz & Associates Chartered Accountants Peta Fielding, Director & CEO, Burleigh Brewing Business NOW! Marketing and Consumer Behaviour • Academic: Associate Professor Rajat Roy • Panel: Sanjay Bhatia, General Manager, Sea World and Sea World Resort Greg Scott, Principle, Grand Motors EQUIS Reaccreditation Report – 2021

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Business NOW! Entrepreneurship • Academic: Associate Professor Baden U’Ren • Panel: Meryl Johnson, Founder and CEO, Bean Ninjas Aaron Birkby, Cofounder and Head of Performance, Peak Persona Business NOW! Big Data and Analytics • Academic: Associate Professor Adrian Gepp • Panel: Martin Connor, Founder and CEO of Healthcare Logic Greg Strydom, Dealer Principal, Frizelle Sunshine Automotive. Business NOW! The Changing Workplace • Academic: Assistant Professor Libby Sander • Panel: Leschen Smaller, Director, Element Business & Accounting Solutions Jason Mark, CEO, Offiscape Business NOW! Family Enterprise • Academic: Professor Justin Craig • Panel: Nick Bloor, Co-founder & CEO, IVM Group Shane O’Reilly, Managing Director, O’Reilly’s Rainforest Retreat Bruce Hatcher, Family Business Consultant, BDO Business NOW! Strategic Purpose and Governance • Academic: Associate Professor Gary Bowman • Panel: Dennis Watt, Chairman, Gold Coast Titans Stuart Giles, Co-Founder, Icon Cancer Group and Epic Pharmacy Group. Business NOW! Tourism • Academic: Associate Professor Mike Raybould • Panel: Jonathan Fisher, COE Binna Burra Lodge and Board Member Queensland Tourism Industry Council Barry Robinson, President and MD Wyndham Vacation Clubs International. Bruce Harkness, Snr VP Human Resources and Customer Experience, Wyndham Destinations Asia Pacific. COVID-19 challenges still exist in 2021, however the School can facilitate COVID-19 safe events if specific protocol is followed. The Business Leaders Forum and Business Links events will take place three times a year in 2021, with successful events completed in April and May (see event details in Appendix 10.2). The School’s student associations, Bond Investment Group (BIG) and Bond Student Association (BSA) actively engage with industry to further enhance the student experience. Through collaboration with the ADEE, BIG convenes a ‘Women in Business’ event, and partner with the ADEE to convene the Titans of Industry event. During this experience, the students assist in preparing the event, attracting students to the event, and engaging with industry to attract keynote speakers, panelists and delegates. The BSA will work with the ADEE to convene the second Business Leaders Forum, taking a lead on content, industry networks and event operations.

10.4 NATURE OF CORPORATE ENGAGEMENT The corporate world contributes directly to the ongoing development of the School’s programs in various ways consistent with the strategic focus as outlined above, as noted in Chapter 2, and summarized below: •

•

The School’s two active Advisory Boards, provide advice on strategic aspects of program and curriculum development (including our path re short courses and executive education), ensuring the School is considering the needs of the corporate world in its graduates. Several Board Members also actively participate in relevant curriculum areas through presentation of guest lectures and provision of advice to students enrolled in programs (Strategy Theme 2 (2.2-1)). Involvement and attendance at the Business Leaders Forum or Business Links events.

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• •

Assistance in a variety of projects such as the Business NOW! video series. Work-Integrated Learning (WIL) – all students can undertake work experience and internships. Access to internships is subject to grade point average criteria being achieved. While work experience and internship partnerships are managed by the CDC, faculty are actively involved in identifying corporate partners who have suitable opportunities for providing work experience for students. While WIL is not a compulsory requirement of all programs, the Bachelor of International Hotel and Tourism Management includes a minimum 400-hour work experience requirement which its students must complete to be eligible for graduation. Other WIL activities occur in many courses including industry site visits; industrybased projects and corporate case studies. (Strategy Theme 2 (2.2-2)). The compulsory Beyond Bond Program (discussed in Chapters 1,2 and 3). Several of the School’s programs and majors are accredited by relevant professional bodies including: o Actuaries Institute (AI). o Chartered Accountants Australia and New Zealand (CAANZ), CPA Australia (CPA) and The Institute of Public Accountants (IPA). o Chartered Financial Analyst Institute (CFA).

Students’ engagement occurs throughout their degree and includes activities such as: • • • • • • • • • •

Participation in work experience and internship programs. Class excursions and site visits. Attendance at industry networking events hosted by the School including Business Links events, Bond Business Leaders Forums, and Titans of Industry. Students network with members of the corporate world. Opportunities for student bodies (Bond Student Association & Bond Investment Group) to host corporate events, and take a leadership role in event management and corporate relationships. Opportunities to network with the School’s Advisory Board members. The use of virtual presenters in an online activity (especially during COVID-19). Guest speaker presentations, industry case studies and industry-based projects in relevant subjects within their respective programs. Participation in various community support initiatives offered through the University. Engagement with past students through the School and University’s alumni network. Participation in the Alumni Mentoring Program.

In addition to the School’s initiatives, students engage with faculty, most of whom have previously worked as business professionals and maintain industry connections that are shared with students. Past industry roles of academic staff include:

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• • • • • • • • • •

Operations and Training Manager – SeaWorld Human Resource Officer/Director High Performance Sport Manager Independent Consultant, Strategic Planning Lead Consultant, AXS Australia Marketing & Research Manager, Royal Pines Report External Management Accountant, China B2B Marketing, India Hospitality Industry Chartered Accountant & Senior Auditor, Arthur Anderson and Coopers, and Lybrand

• • • • • • • • • • • •

Data Scientist Family Business Consulting BE Services, Osaka Japan Managing Director, Nifty Media Allconnex Water Financial Analyst Actuarial Analyst, Towers Watson Honeywell Software Development Consultant Management Consultant, KPMG Australia Secondary School Teacher Unilever

Lastly many faculty staff maintain and develop their own professional networks through which they engage industry in their teaching and learning activities, collaborate with corporate partners on specific projects, and network at industry events. The School’s own forums are as outlined below: •

•

Business Links is a series of presentations from Australian and International business experts held three times a year on campus and attended by 80-100 business professionals. The events provide topical, thought-provoking sessions and networking opportunities for business professionals and the local community. Speakers include School members; industry partners and visiting international professors. The event series is sponsored by CPA Australia which extends invitations to its members as part of their continuing professional development activity. Faculty attend these events, engaging with industry guests at a networking function held at the conclusion of each presentation. Bond Business Leaders Forum (BBLF) was launched in 2005 and provide valuable professional development and networking opportunities for students and the Queensland business community. The forums are held three times a year, attract alumni and corporate stakeholders of up to 200, and feature a prominent keynote speaker or panel of speakers from industry. Speakers address issues related to their own leadership experiences; their companies; the business climate and challenges; and innovative solutions to those challenges. (Strategy Theme 3 (3.4-1)). Bond Investment Group Titans of Industry Forum - Bond Investment Group (BIG) is one of the Australia’s preeminent business student-run finance groups. The Titans of Industry event is its annual industry forum which is attended by 100 – 150 guests from industry and the Bond community (Strategy Theme 2 (3.4-1)). Students play a key role in organizing this event, including reaching out to industry leaders, selling tickets and hosting the speakers/panel on the evening.

base rrom 10.2 provides a summary of the major events hosted by the School, and breakdown of attendance, with a total of 1,175 people attending 9 events on campus in 2018-2020. 57 % of the attendances at these events were external to the University and 21% current students or alumni. No external events were hosted after February in 2020 due to COVID-19. The events have resumed for 2021, as they provide significant opportunities for both faculty and students to interact with the corporate world. Most of these events are held on campus in its very high-quality events Centre, further showcasing the University and School. Strict COVID19 measures have been implemented for all 2021 events including food service, hygiene and social distancing. Numbers have been capped for 2021 events. The events listed above are representative of the major externally-focused activities organized by the School. In addition, the School and faculty are engaged in other University Events which also have significant corporate engagement, and individual faculty present and speak to a range of groups. Many of these activities are

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presented in previous chapters as they are linked to the activities of the Transformer and the Centre for Data Analytics. Further, many faculty are engaged in ongoing professional development activities to maintain their individual accreditations with amongst others the accounting bodies, with the CFA and as Actuaries. Corporate Research Partnerships Chapter 5 outlined the key ways in which the School engages in research for and with the industry and broader community. Key highlights include: • • • •

Presentation of research projects and outcomes at Business Links Seminars. Delivery of an annual Business Research Showcase event as part of the University’s annual celebration of Research Week to which industry are invited to attend. Collaborative research and consultancy projects and grants funded by industry. Industry funded competitive PhD research opportunities.

CORPORATE FUNDING The University has an active corporate donor program, and the School has benefited by opportunity funds for student exchange and other student initiatives. The School’s Macquarie Trading Room facility was originally established in partnership with, and funded by, the former Macquarie Bank (now Macquarie Group). At present corporate funding is received through sponsorship of the School’s Business Links events series. Since 2010 CPA Australia has supported this initiative through annual sponsorship of these events. Some funding is also received through research grants (refer Chapter 5) and through sponsorship of the School’s Student Award Evenings subject awards (see below).

KEY RELATIONSHIPS WITH CORPORATE PARTNERS The School has several partnership initiatives in place, both through its Advisory Board members and with organizations outside of this network. These organizations participate in the work experience and internship program, employing students and providing work-integrated learning opportunities. Many industry partners sponsor and support student learning, achievements and research activities. Some specific examples of partnerships with the corporate world include: •

•

Westpac Banking Corporation - Westpac is not only the University’s banking partner, it also supports Indigenous Scholarships in the Bond Business School. In addition, senior Westpac staff mentor Vice Chancellor Elite Scholarship students through a formal mentoring program organized each year. Furthermore, senior Westpac staff are members of the Bond Business School Advisory Board. Epic Good - Founders of the Epic Good foundation built their success through a successful pharmacy group in Australia. Through this success, the founders have mentored many individuals to establish their own successful businesses. Co-founder, Mr Stuart Giles has recently been appointed the inaugural Founder in Residence in the Bond Business School’s Transformer. He will mentor students, staff and alumni in entrepreneurship and establishing their own businesses. Indigenous Partners, who sponsor student scholarships: o FTI Consulting – Washington based global business consulting firm. o Gallagher – Sydney based national insurance, risk management and business consulting firm. o Nelnet International – Melbourne based national technology, communications and business consulting firm.

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• •

•

Sunland Group, provides support to the School via the Abedian Foundation Scholarships supporting BBS students. CPA Australia – As noted earlier, CPA is the founding sponsor of the Business Links event series, providing financial support for these events and extending invitations to its broad membership base of accounting professionals. CPA is also a regular contributor to the School’s work experience and internship activities and its regional executive teamwork with staff in the Department of Accounting on various student initiatives. The School has a dedicated CPA Campus Liaison Officer role who is a member of this Department. CPA also sponsors several of the School’s Business Student Awards. Business Student Awards Sponsorship – The School hosts three graduation ceremonies a year at which its highest achieving students are presented with awards. Several organizations support these awards through funding support associated with a named award. Current award sponsors include: o Goldsworthy Prize for Outstanding Semester - Awarded the Goldsworthy Prize for the highest grade average for a graduating student - €60 cheque and certificate. o Morgans Ltd Prize for Finance Major - Awarded the RBS Morgans Ltd Prize for Finance Major students - €310 cheque and certificate & trophy for student, awarded each semester. o Queensland Treasury Prize for Actuarial Science - Presented with the Queensland Treasury Prize for Actuarial Science to the best first year actuarial student - €620 cheque and certificate and Name on Plaque. o WMS Chartered Accountants Award for Excellence - Presented with Excellence Accounting Award for highest achieving postgraduate performance - €310 cheque and certificate, awarded every semester. o Youi prize for Stochastic Modelling - Awarded the Youi Prize for Best Student in Stochastic Processes €310 cheque and certificate. o Youi prize for Actuarial and Financial Models - Awarded the Youi Prize for Best Student in Actuarial and Financial Models - €310 cheque and certificate. o Youi Prize for Mathematical Statistics - Awarded the Youi Prize for Best Student in Mathematical Statistics - €310 cheque and certificate. o RACQ Data Analyst Prize - Awarded the RACQ Data Analyst prize for Best Student in Stochastic Processes, Actuarial and Financial Models and Data Science (UG or PG) - €620 EFT, 3-week paid internship and certificate. Alumni network - As noted in Chapter 2, the School’s alumni are globally dispersed with key members having representation on the University’s Alumni Committee as well as the School’s own Industry Advisory Boards. Many academic staff maintain contact with various alumni who stay engaged with the School to support its current student and other initiatives in their corporate capacities.

The partner activities outlined above are the formal relationships of the School, and as noted earlier various partnership activities are maintained by a cross-section of staff from the School. Furthermore, students benefit from the partnerships managed by the CDC, and the various industry connections they are aligned with.

10.5 CONTRIBUTION TO ETHICAL, RESPONSIBLE, AND SUSTAINABLE BUSINESS PRACTICE From a corporate engagement perspective, the School’s two events series, Business Links and Bond Business Leaders Forum, both exist to ensure that the ‘best practice’ expertise of its academic staff, industry partners, and visiting professors are disseminated directly to the corporate community. These events typically engage the audience on a topic of relevance, conveying information from recent research projects and providing recommendations with the general mandate to inform the School’s partners of key issues, challenges and recommendations on ways to grow and improve their own practices. Individual academics are also involved in community activities promoting ethical, responsible, and sustainable business practice, such as: •

Member of the Science and Innovation Advisory Board.

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• • • •

Consultation Queensland health to redesign health system. Meals on Wheels. Lions Club Gold Coast. Arrow Health (alcohol and drug rehab center).

As noted in Chapters 8 and 9, the School’s membership of, and active participation in PRME, adds to its focus on ensuring the business practices and decision-making capacity of tomorrow’s future business leaders are ethically based, responsible and mindful of the need for business to be sustainable. To further enhance our commitment to PRME, the School will be support PRME initiatives through the Lions Club of Robina in two community-based initiatives during April and May. First, the School will support “Lions Recycle for Sight” program, collecting unwanted eye-glasses which will be sent to various humanitarian organizations operating in developing countries and poorer areas. Second, the School will be providing support for the Lions “Bread Tags for Wheel Chairs”. Collection of the little squares of plastic that come with most packaged bread will be recycled. Funds raised through this recycling program are used to provide wheelchairs in South Africa. Finally, Professor Amy Kenworthy and husband George Hrivnak, were awarded the Ian Fraser Humanitarian Award in 2019, for the work of SuperMax and Bryce, helping children with cancer. In 2017, Associate Professor Adrian Gepp was awarded the Association of Certified Fraud Examiners Educator of the Year.

10.6 INTERNATIONAL FEATURES OF CORPORATE ENGAGEMENT As outlined in Chapter 8, significant features of the School’s engagement with the corporate world include partnerships sustained through Advisory Board members who in many cases are not only senior managers within global businesses, but also have significant prior international work experience and originate from various cultural backgrounds. In some cases, these partnerships have led to specific initiatives aimed at supporting the international student experience and employment outcomes, such as that outlined for Marriott International. As noted earlier, the School’s network of international alumni also adds a further dimension to corporate engagement, presenting opportunities to engage current students and staff with these international alumni and their organizations. The School’s alumni network is globally dispersed across 90 countries, with many alumni actively maintaining contact with the School and the Alumni Development Office. This presents a significant opportunity to further expand engagement with the corporate world internationally. The impact of COVID-19 reduced the opportunity to secure international Connections with Practice on campus and limited the opportunity for study tours and exchange programs in 2020 and 2021, but as discussed in Chapter 3 are a core component of student experience and offer opportunities for industry engagement as a core focus of each study tour. The School’s partnership with BBT Japan facilitates connection to a network of organizations in Japan and globally through the students who enroll in the joint MBA program. Students and alumni of this program work in various multinational companies providing an opportunity in the future for the School to engage with these organizations to further expand its focus internationally. COVID times excepting, the University holds an annual alumni function in Japan, where graduates from its on-campus programs and the BBT program interact, further supporting the ongoing development of relationships.

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11 11.1

11.2

AROUND CAMPUS: VIDEOS WELCOME: BBS EQUIS

TRANSFORMER PROGRAM

11.5

BUSINESS COMMONS

11.6

A TOUR OF THE SPORTS CENTRE

11.3

MULTIMEDIA LEARNING CENTRE (MLC)

11.7

FINTECH HUB

11.4

CENTRE FOR DATA ANALYTICS

11.8

A TOUR OF THE LIBRARY

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Bond University Gold Coast Queensland 4229 Australia Toll free: 1800 074 074 Phone: 07 5595 1111 Fax: 07 5595 1015 bond.edu.au/enquire bond.edu.au

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The information published in this document is correct at the time of printing (July 2021). However, all programs are subject to review by the Academic Senate of the University and the University reserves the right to change its program offerings and subjects without notice. The information published in this document is intended as a guide and persons considering an offer of enrolment should contact the relevant Faculty or Institute to see if any changes have been made before deciding to accept their offer.