2011 Alumni Matters

BeA@m Business and Economics Alumni @ Melbourne

business and economics

ALUMNI MATTERS www.fbe.unimelb.edu.au/alumni Vol. 1 MAY 2011

launch

of the melbourne foundation for business and economics alumni of distinction awards recognition of alumni

our rhodes scholars

executive education

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from melbourne to oxford

features

02 The Melbourne Foundation for Business and Economics

Cover image: Joyce Au-Yeung, BCom/LLB 2003; photographed by Joe Vittorio

Published by the Faculty of Business and Economics at the University of Melbourne, Alumni Matters is a magazine for alumni and donors to the Faculty. As of 2011 it will be published once a year and is available in print and in electronic format as a Flash flip book. The Faculty also publishes a bi-monthly e-newsletter for alumni, eComm.

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If you would prefer to receive Alumni Matters in electronic format in future, please ensure that your email address is up-to-date. You can do this via the University’s online alumni portal: http:// alumni.online.unimelb.edu.au/mydetails To view electronic versions of Faculty publications please visit: www.fbe.unimelb.edu.au/alumni/news.html

05 Commerce alumni take up key governance roles

Alumni Matters May 2011 Edited by Anthea Barry Designed by Sophie Campbell, scdesign.com.au

08 Business in a global environment

Alumni Relations, Advancement and Marketing Unit Faculty of Business and Economics Level 12, 198 Berkeley Street

Authorised by the Director, Advancement

University of Melbourne VIC 3000

ISSN: 1839-0420

F: +61 3 8344 2147

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The University reserves the right to make changes as appropriate.

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Business and Economics Alumni at Melbourne Business and Economics Alumni @ Melbourne (BEA@M) @BusEcoNews b

in this issue 02 Launch of The Melbourne

Foundation for Business and Economics 04 Accounting Hall of Fame 05 Commerce alumni take up

key governance roles 06 Alumni of Distinction Awards 08 Business in a global

environment

09 From Melbourne to Oxford:

our Rhodes scholars 10 Executive Education 12 The Melbourne Microfinance

Initiative 14 Business and Economics

Alumni Council 17 Upcoming events Executive Education – see page 10 for course information

dean’s update Dear Alumni, Donors and Friends Welcome to our new-look magazine for alumni and donors of the Faculty of Business and Economics. In keeping with the trend towards more environmentally sustainable business practices, Alumni Matters has undergone a dramatic makeover. As well as a print version that boasts the most environmentally responsible credentials, it is now also available in electronic flip book format.

We hope that you enjoy the new magazine – we value your feedback and suggestions so please let us know what you think!

Firstly, I would like to sincerely congratulate the Hon. Alex Chernov AO (BCom LLB) for his recent appointment as Victoria’s next Governor, and the appointment of Ms Elizabeth Alexander AM (BCom) to succeed Justice Chernov as the next Chancellor of the University of Melbourne.

Both are outstanding alumni of this Faculty and we are certain that they will excel in their new roles.

The launch of The Melbourne Foundation for Business and Economics on 15 March marked an important milestone in our Faculty’s history. Established by the Faculty of Business and Economics together with the Business and Economics Board in 2010, the Foundation provides a vehicle for donors to support the vision of the Faculty.

Also in March we announced the two recipients of the Alumni of Distinction Awards, a program created by the Business and Economics Alumni Council in 2011. These awards acknowledge the achievements and contributions of outstanding alumni from the BEA@M community. Our star alumni Ross Cameron and Simon McKeon were presented with their awards at the Foundation launch. The full story, including details of the awards program is detailed on pages 2-3.

As always, our students have wasted no time making the most of opportunities available to them as part of their study experience in this Faculty. In January four groups of students, accompanied by an academic, undertook the Global Business Practicum (graduate) and BCom Global Consulting Project (undergraduate) subjects in Singapore, Hong Kong, Mumbai and Bangkok.

These practicums give students the opportunity to undertake business projects in a global environment – a chance to put what they’ve learnt here in the classroom into real practice. Both students and the host companies – many of them our alumni – leave the experience with far more than a completed project in hand.

photo: Chris Budgeon

On page 8 of this edition of the magazine our students report back on the program.

Finally, the combined news of our AACSB accreditation, our ERA results and the University of Melbourne’s ranking as the no.1 university in Australia served as a reinforcement of our emphasis on excellence in research and teaching.

This environment produces a vibrant community of scholars and provides our students an outstanding learning experience – mirrored in the vision of The Melbourne Foundation for Business and Economics to provide a stimulating, challenging and distinctive learning experience for students. I would like to thank all of our donors, sponsors, supporters and friends for partnering with us to realise this aim.

Professor Margaret A Abernethy Dean, Faculty of Business and Economics Sidney Myer Chair of Commerce

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Over 40 organisations endorsed the Foundation as sponsors of the gala dinner launch. Indeed, the ongoing response from the corporate community has been overwhelmingly positive. I encourage

you to read all about the Foundation, the launch and the inspiring stories of our scholarship students in the Donor Report that accompanies this magazine.

Launch

of the Melbourne Foundation for Business and Economics

Mention the words ‘Wilson Hall’ to most alumni and it immediately conjures up memories of student days – some good (graduation) and others not so great (sitting exams).

On Tuesday 15 March the sight of the hall transformed into a magnificent venue for the gala dinner launch of The Melbourne Foundation for Business and Economics (TMFBE) was something quite special.

The primary role of the Foundation is to oversee trust expenditure and to assist the Faculty in seeking and honouring benefaction. In particular, the Foundation will raise funds to support scholarships, bursaries and access programs, ensuring the most talented students will gain the best possible education with no barriers of geography, financial hardship or community.

The impressive line-up of speakers began with an official opening from the Chancellor, The Hon. Alex Chernov, his entrance fittingly accompanied by the university hymn played on the hall’s organ.

Over entrée guests were warmly welcomed by Rupert Myer, Chairman of the Myer Family Company and member of the Foundation Board.

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Mr Myer touched on the history of benefaction for the Faculty and the ever increasing need for all to understand the language of fiscal and monetary policy, aggregate demand, stimulus policy to ensure well understood policy debate and decision making in our region. He also reminded us that the culture of philanthropy has a long history in this Faculty.

Next up was a panel of two students and the Dean, Professor Margaret Abernethy, chaired by recent alumnus Ken Wong, each telling their own personal story of how their scholarship support maximised their potential to study the Bachelor of Commerce at the University of Melbourne.

During his time studying the Bachelor of Commerce, Ken was president of SIFE (Students in Free Enterprise) and active in promoting social enterprise activities among students.

For Jack and Rachel, their journey to Melbourne University – from the country town of Winchelsea and Kuala Lumpur, Malaysia respectively – began with the offer of a scholarship.

As they all reflected on their experiences here, there was no doubt as to the impact and difference that support makes to each individual.

Over main course guests had the opportunity to chat with each other.

Each table was generously sponsored by an organisation or individual, with guests including members of the Business and Economics Board, members of the Alumni Council, senior University staff and even Australian swimming legend Grant Hackett and former state premier The Hon. John Brumby.

Many hosts, themselves already donors to the Faculty, also opted to include a scholarship student at their table.

Following dinner Peter Yates, Chair of The Melbourne Foundation for Business and Economics explained the Foundation’s plans to raise funds to create an endowment for scholarships and the role of the business community and alumni in supporting the Foundation’s goals.

Dr Yates thanked the sponsors and announced a target to raise $50m in five years. This enowment would enable the Foundation to grant around $4m in scholarships to students in need each year.

The Hon. Jim Short, Co-Chair of the Alumni Council, was then invited to award the 2011 Alumni of Distinction Awards.

This program is an initiative of the Alumni Council to publicly acknowledge and thank outstanding alumni for their contributions.

Ross Cameron, for many years the driving force behind the former alumni society UMCAS and instrumental in the establishment of the new Alumni Council, was awarded the Outstanding Contribution to the Faculty and University Award.

The second award – for Lifetime Achievement – was presented to Simon McKeon. The 2011 Australian of the Year took to the stage to accept his award and to address the audience.

Prof. Davis offered the University’s endorsement of The Melbourne Foundation, which he said will help to realise one of the University’s most important aspirations: to help shape leading global citizens, drawn from the talent pool of every community, and preparing those young citizens to have real impact in the world.

The evening’s formalities closed with the screening of a very moving video clip featuring some of our scholarship students thanking donors for their support and talking about their plans for the future.

The occasion at Wilson Hall was indeed a special one, much like the Melbourne Foundation itself and the students that it will continue to support over the years to come.

For more information about the Melbourne Foundation for Business and Economics and its objectives, please refer to the enclosed Donor Report. To read about the Alumni of Distinction Awards program and this year’s winners, please go to page 6.

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Mr McKeon remarked that he is only the third person ever to have received the title of Australian of the Year for achievement in business, and stressed that business has an essential and pivotal role to play in bringing about major, positive transformation and congratulated the Foundation on its initiatives.

The evening was brought to a close by University of Melbourne Vice-Chancellor Prof. Glyn Davis, reiterating that Simon McKeon’s contributions in the business workplace, through World Vision and in a range of philanthropic projects, have clearly given enormous inspiration to many people and thanked him for his support of the Melbourne Foundation.

Two University of Melbourne Commerce alumni inducted into the Australian Accounting Hall of Fame The first professor of accounting in an Australian university and a current member of University Council were recently honoured with membership of the newly established Australian Accounting Hall of Fame.

The two Melbourne luminaries were among a group of five accountants inducted into the Hall in recognition of their significant contributions to Australian accounting.

The award ceremony, held at University House in October last year, was attended by accountants from academia, industry and professional practice, together with family and friends from around the country.

The late Sir Alexander Fitzgerald OBE (Commerce 1927), who ran an extensive city accounting practice, pursued a celebrated career in academia and provided extensive government service on boards of advice and committees of enquiry was recognised as an all-rounder and leader of accounting at a time when the discipline was establishing a firm basis within the business and commercial world.

Sir Alec was appointed to the G.L. Wood Chair in Accounting in the Department of Accounting in 1955, the first appointment of its type in an Australian university.

The Fitzgerald Chair in Accounting in the Department of Accounting and Business Information Systems bears his name.

Ms Elizabeth Alexander AM (BCom 1964), recently appointed Chancellor of the University of Melbourne and Chairperson of the Finance Committee, was recognised as a pioneer practitioner committed to empowering women in business.

Elizabeth has also been an accounting standard-setter and regulator at various times in her career.

Elizabeth established herself as a leader within Australian accounting at an early stage in her career. As the first female partner in a Big 8 accounting firm she has been uniquely placed to promote the interests of women in the profession.

She has worked continuously to empower women both within the accounting profession and the wider business community. Attaining professional success early in her career provided the opportunity to be engaged in the wider development of the profession over a sustained period of time.

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Through her drive and initiative she introduced risk management and corporate governance to her firm’s portfolio of services. Part of her legacy is that these activities are staple offerings of most large accounting firms.

Mrs Win Leslie, daughter of the late Sir Alec Fitzgerald; Associate Professor Brad Potter, Director of the Centre for Accounting and Industry Partnerships; Mrs Rosemary Pearce, daughter of the late Professor Ray Chambers; Professor John Dewar, Provost; Mrs Margaret Gynther, wife of the late Professor Reg Gynther; Emeritus Professor Philip Brown; Ms Elizabeth Alexander; Mr Phillip Cobbin, Director, Australian Accounting Hall of Fame

Elizabeth has also been involved as a standard setter and regulator. As a member of the Australian Accounting Standards Board and the Emerging Issues Group she was well placed to contribute to shaping the accounting standards development and preparation process.

As a member of the Takeovers Panel and Federal Reporting Council she has also been an active regulator. As a senior office holder with CPA Australia she was actively involved in efforts to bring regulatory backing to accounting standards.

Many awards have come Elizabeth’s way.

Her professional accounting body, CPA Australia, granted Life Membership. She was also made a Member of the Order of Australia in 1990.

The Australian Accounting Hall of Fame honours Elizabeth Alexander as a pioneer female practitioner, mentor, regulator and accounting standard-setter.

Named along with Sir Alec Fitzgerald and Ms Alexander were accountants from the University of Sydney, The University of Queensland and the University of Western Australia. The late Professor

Ray Chambers form the University of Sydney, late Professor Reg Gynther from the University of Queensland and Emeritus Professor Philip Brown from Western Australia were also inducted.

The Director of the Australian Accounting Hall of Fame is Phillip Cobbin of the Department of Accounting and Information Systems within the Faculty of Business and Economics.

“The Accounting Hall of Fame was established by the Centre for Accounting and Industry Partnerships in the Department of Accounting and Business Information Systems to recognise and celebrate significant contributions to Australian accounting.

“Each of the five inductees were giants of the profession and their contributions spanned the period from the earliest years of the twentieth century through to the present day. The Hall will endeavour to continue to recognise accountants on an annual basis into the foreseeable future,” said Mr Cobbin.

Information supplied by Phillip Cobbin, Department of Accounting and Business Information Systems, Faculty of Business and Economics.

Commerce alumni take up key governance roles In February this year the ViceChancellor announced that the University of Melbourne’s Chancellor, the Hon. Alex Chernov AO, will be Victoria’s next Governor.

As an alumnus of the Faculty of Business and Economics, Justice Chernov has always engaged enthusiastically with our alumni community. His new appointment was lauded at the Foundation launch in the presence of the Vice-Chancellor, Dean of the Faculty and many distinguished guests.

Justice Chernov, who has been Chancellor for two years and a University Council member for 19 years, stood down from Council in April to take up his vice-regal post.

Ms Elizabeth Alexander AM

Succeeding Justice Chernov as the 21st Chancellor of the University of Melbourne is another Business and Economics alumna, Ms Elizabeth Alexander AM, whom many of you will know as one of Australia’s leading businesswomen.

An expert on corporate governance and risk management, her credentials in the business and educational communities precede her.

Ms Alexander has demonstrated leadership and passion for over forty years by empowering businesswomen through her extensive involvement and active contribution to the accounting profession.

She was a pioneer, breaking new ground in accounting as the first female partner in a ‘Big 8’ accounting firm. She was also the first female State and National President of CPA Australia.

Her outstanding contribution to enhance women’s lives has been demonstrated by leadership and successful promotion of women’s interest and representation at many levels including significant roles on boards and quality committees.

Ms Alexander has served on Council since 2004. Her contributions to the University in her time on Council have been invaluable and include chairing the Finance Committee and the Subsidiaries Sub-committee.

Ms Alexander was also recently inducted into the Australian Accounting Hall of Fame – please refer to the article on the previous page where her achievements are detailed further.

We wish both Justice Chernov and Ms Alexander the best in their new appointments.

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Justice Chernov has invested an enormous amount of time doing voluntary work for the University in Australia and around the world, always taking delight in his meetings with students, staff and alumni and takes on the responsibilities of Governor with best wishes from his many friends and admirers within the University of Melbourne community.

Justice Chernov

Alumni of Distinction Awards 2011 When the Faculty’s Alumni Council was established last year, one of the priority areas identified was alumni recognition and, as a result, the Awards and Recognition work-stream was formed.

For nearly 20 years Ross has been passionate, enthusiastic and tireless in providing valuable advice to the Faculty on its alumni program, and developing and promoting the committee.

Through this work-stream the Alumni of Distinction Awards program was developed, by which outstanding alumni are publicly recognised for their efforts and their contribution to society, be it through their endeavours in industry, government, academia, community and elsewhere.

The Faculty of Business and Economics is very proud of the achievements of our alumni – as ambassadors of their alma mater, alumni contribute to the reputation that the Faculty enjoys and continues to build upon.

2011 Alumni of Distinction Award recipients This year, the recipients of Alumni of Distinction Awards are: Mr Ross Cameron (BCom 1987 MBA 1991) – Outstanding contribution to Faculty/University Award Mr Simon McKeon (BCom 1976 LLB 1978) – Lifetime Achievement Award Ross and Simon were introduced

by Alumni Council Co-Chair, The Hon. Jim Short, and received their awards at the Foundation dinner on 15 March.

Ross and Catherine Cameron

Ross Cameron Ross Cameron graduated from the Faculty in 1987, and was the longest-serving member on the University of Melbourne Commerce Alumni Committee, better known as UMCAS. UMCAS was first established in 1991 by a former lecturer, John Harper, and a handful of committed BCom alumni. Up to that point in time there had been no past student’s association, which was rather unusual given the need for the Faculty to maintain strong relations with the business world beyond the Faculty campus.

“There are now roughly 40,000 graduates of the Faculty throughout the world. It makes no sense for a business faculty to have no meaningful dialogue with its graduate body. This is why I became involved in UMCAS in 1992,” says Ross.

For nearly 20 years Ross has been passionate, enthusiastic and tireless in providing valuable advice to the Faculty on its alumni program, and developing and promoting the committee.

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In his capacity as President of UMCAS from 2007, Ross displayed outstanding leadership, especially to younger committee members, and was instrumental in the establishment of the Alumni Council.

“Over the past couple of decades we introduced countless initiatives that had become part of our annual calendar...

But in recent years it had become increasingly clear that the UMCAS structure was outdated – many graduates are now international students, the funding model has changed, the Melbourne Model has been introduced and the Faculty’s needs of the graduate body have, not surprisingly, increased.

“On the UMCAS committee we were well aware of the need to change the way in which alumni relations had historically been managed, in order to reflect these changes.

The Alumni Council is the outcome and one which makes total sense.

“The Alumni Council will tackle more formally some of the initiatives that UMCAS had introduced over the years and, importantly, will do this on an international scale.”

Ross took a few moments to reflect on the founder of the Commerce Alumni Society: “John Harper was deeply committed to formalising alumni activities within the Faculty. UMCAS was his initiative and it was my honour to help drive the organisation especially in recent years.

John would be just as proud as I am that UMCAS has provided the Alumni Council with a wonderful launching pad to pick up on what dedicated UMCAS committees have worked on for 20 years.”

With such a magnificent and wide-ranging career of service to the community, the business sector, education, government, sport there can be no doubt that Simon McKeon was the worthiest of recipients of being named Australian of the Year in 2011.

Simon McKeon Australian of the Year 2011

and a past chairman of the Association of Independent Schools in Victoria.

Simon McKeon studied at this University, completing a BCom in 1976, and an LLB in 1978. Since then his career, in the widest sense of that term, has been spectacular.

In the sporting arena Simon, who is a Patron of the Australian Olympic Sailing Team, for several years held the world sailing speed record. He and his team are mounting a campaign to wrest the record back.

He is currently Executive Chairman of Macquarie Group’s Melbourne office, Chairman of the CSIRO, Chairman of MS Research Australia, President of the Federal Government’s Australian Takeovers Panel and heads the Federal Government’s Point Nepean Community Trust and Business for Millennium Development.

With such a magnificent and wide-ranging career of service to the community, the business sector, education, government, sport – together with his great support of Australian charities and his roles in encouraging the corporate world to engage meaningfully with the developing world – there can be no doubt that Simon McKeon was the worthiest of recipients of the honour of being named Australian of the Year in 2011.

His achievements are all the more notable for the fact that he was diagnosed with multiple sclerosis 10 years ago.

In his acceptance speech, Simon remarked that he was surprised and humbled by his Lifetime Achievement Award, and stressed the critical and transformative role that business plays today.

For more details on the program, including eligibility criteria, please see the Awards page on the alumni website at: www.fbe.unimelb.edu.au/ alumni/awards.html.

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As well, Simon is the current Chairman of Red Dust Role Models, a director of VisionFund, World Vision International’s microcredit arm, and of the Global Poverty Project, after serving as a director of World Vision for 15 years; a member of the Victorian Rhodes Scholarship Selection Committee; and an Australia Day Ambassador for the Victorian Government; a volunteer and counsellor for the First Step Clinic,

Nominations for 2012 Alumni of Distinction Awards will be sought from the alumni community, and we encourage any alumni to submit candidates who fulfill the requirements to be considered for an award.

Business in a global environment For students: Opportunity to travel and work on an intensive consulting project For industry: Access to a range of the best and brightest undergrad and graduate students The Global Consulting Project (undergraduate) and the Global Business Practicum (graduate) are capstone subjects that bring highachieving students and industry professionals together in an international context. Carefully selected student consulting teams travel overseas to work intensively over a two-week period (ten business days) to apply their skills and collective knowledge in completing business projects of strategic importance for an organisation.

Teams present their findings on the final day of the program and a month later deliver a professional consulting report analysing the business challenge and proposing courses of action for the client organisation’s consideration.

Both subjects run twice a year in January and July in major cities in Asia and South East Asia. Past projects have been undertaken in Mumbai, Shanghai, Singapore, Hong Kong, Kuala Lumpur, Ho Chi Min City and Bangkok.

High-profile host companies include KPMG, Ernst and Young, Standard Chartered, Walt Disney, BNY Mellon, Coles Group, Kraft, Bluescope Steel and many others.

Some examples of previous projects are: > Identification and assessment of customer touch point opportunities > Business software research and evaluation > Evaluation of supply chain opportunities and in-sourcing capabilities > Development of marketing plan and visual merchandising approach > Assessment of an internationalisation opportunity > Human resource attraction and retention analysis

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> Financial management and performance measurement > Product range expansion analysis and recommendation

Associate Professor Prakash Singh with students undertaking the Global Business Practicum in Singapore in January 2011

Client testimonials

Student testimonials

“The students were very professional and committed to the project they were given.

They were able to deliver the objectives of the project with high quality and we were very impressed by their initiatives and intuitive judgement displayed.”

Kraft Cadbury, Singapore

“I am really glad I took up the GBP as an elective. It gave me a chance to work in office settings, to closely monitor and get involved in industry interactions at the grass-roots level and to work on my team skills. It’ll definitely find a place in the most memorable experiences of my uni life!” Akshata Sakharhande, Master of Management, Singapore January 2010

“We were very impressed with the calibre of students. They were proactive and ambitious.” Leigh Howard, Director, South Asia, Talent 2 “As management students, they were able to grasp and understand the engineering industry very well and offer an independent ideas and suggestions for improvement in our business practices.” GHD Engineering, Kuala Lumpur “The students were well equipped to give us the insights we needed to improve our financial system. For me, the ultimate success is they seem to have finally found a business management solution for which I have been searching for several years.”

Managing Director, Bangkok client, January 2011

“GBP has been an incredible experience for me. It has provided me with an extraordinary insight of how the hospitality industry works and how Thailand works as a country. The project itself was challenging, yet very educating, and has prepared me for other projects to come.

The feedback has been very constructive and has helped me develop professionally.

The project has also given me another perspective on accounting. I’ve come to realise that accounting isn’t just numbers, but what those numbers mean, what they imply and the recommendations.”

Alice Lao, Master of Management Accounting, Bangkok January 2010

If you or your organisation are interested in finding out more information about hosting a global business project, we’d love to hear from you.

For all Graduate and Masters programs: Contact: Craig Barrie, Student Experience Manager, GSBE Telephone: +61 3 9035 5847 Email: cebarrie@unimelb.edu.au Web: www.gsbe.unimelb.edu.au/experience/GBP_Company_FAQ.html For the BCom program: Contact: Jacqui Hoare, Capstone Studies Coordinator Telephone: +61 3 8344 1922 Email: fbe-capstonestudies@unimelb.edu.au

From Melbourne to Oxford: our Rhodes scholars Interview conducted by Associate Professor Geoff Burrows in Oxford

Rhodes Scholarships are keenly-sought academic awards, with nine of the eighty-three scholarships available each year worldwide going to Australians aged under 25 for postgraduate studies at Oxford.

Recent winners include Faculty of Business and Economics alumni John Feddersen (BCom Hons 2008) and Daniel Norman (BCom Hons 2010). Associate Professor Geoff Burrows from the Department of Accounting and Business Information Systems caught up with them in Oxford.

At the University of Melbourne, both John and Daniel completed first-class Bachelor of Commerce honours degrees.

John’s degree was combined with a Bachelor of Science in mathematics.

Daniel switched to honours after commencing the degree part-time while working with professional-services firm KPMG which he joined after completing year 12 at Gladstone Park Secondary College.

After two years at Oxford’s Magdalen College, John completed the MPhil in Economics in 2010, winning the prize for the best thesis in Economics. He has now commenced a DPhil, for which he intends to apply trade theory to environmental regulation. Despite a demanding academic program, he found time to be president of Magdalen’s postgraduate common room during 2010.

The age limit of 24 for Rhodes scholarships means that applicants, as well as being graduates, will have

significant employment, sporting and community-service experience. Indeed, community involvement and sporting achievements are important considerations in Rhodes awards.

While an undergraduate, John taught English in a small community school in northern Thailand, and later volunteered in India, Zambia and South Africa. Prior to his departure for Oxford, he worked for the Boston Consulting Group. A onetime Victorian and Australian representative youth hockey player, John was a member of the Oxford ‘blues’ hockey team which enjoyed a 4–1 victory over traditional rivals, Cambridge.

After graduating from the University of Melbourne, Daniel worked in the Australian office of investment banker J.P. Morgan, where he gained an understanding of global capital markets and their importance for emerging economies. His enrolment at Balliol was based partly on the recommendation of J.P. Morgan Australia Ltd’s chairman, Sir Rod Eddington, himself a former Rhodes Scholar.

Outside of work, Daniel has also been involved in mentoring and outreach programs run by the Red Cross and the Yarra Centre for Work and Learning.

Prior to his arrival at Oxford, he spent five months in China, learning Mandarin and travelling in its Western and Southern provinces.

Keen on running and football, Daniel has also combined these enthusiasms at school and university by umpiring, ultimately at both suburban and VFL levels.

Over lunch in early October with Associate Professor Geoff Burrows, both John and Daniel referred to the honour they felt at being Rhodes Scholars, and the sense of obligation the award generates, not least towards the unsuccessful applicants who have not received the same opportunity. John also warned Daniel of the intense pressure generated by Oxford’s focus on the final assessment. His advice to Daniel was to “do all your socialising in the Michaelmas (September–December) term, not the Hilary (January–March) or Trinity (April–June) terms.”

At Oxford, Rhodes Scholars enjoy the support of the Rhodes Trust based in Rhodes House which boasts a strong Melbourne representation: the director is Dr Don Markwell, warden of the University of Melbourne’s Trinity College from 19972007 and the administrative staff includes Krista Slade, who formerly worked in the Faculty of Business and Economics.

Previous Rhodes Scholarship recipients include Bill Clinton, Naomi Wolf and Eduard de Bono. Among their Australian counterparts are politicians Bob Hawke, Kim Beazley, Tony Abbott and Malcolm Turnbull, as well as ex-Carlton AFL captain, Mike Fitzpatrick.

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Recently enrolled in Oxford’s two-year MSc in Economics for Development, Daniel is in residence at Balliol College.

After graduation he aspires to make a contribution in the field of development banking for an agency such as the World Bank or the Asian Development Bank.

Daniel Norman (left) and John Feddersen (right)

Executive education for professionals from the not-for-profit and corporate sectors

by Rees Quilford Professionals working for notfor-profit organisations recently joined colleagues from the corporate sector and completed a two-day intensive Executive Education Open Program run by the Graduate School of Business and Economics (GSBE), titled ‘Market Leadership through Strategic Marketing’.

The program, delivered by Professor Bryan Lukas at the Parkville campus, used highly practical and interactive techniques to provide participants with valuable strategic marketing tools and skills.

Professor Lukas says that the program proved beneficial to all that attended.

“Participants developed specialist marketing strategy knowledge, increased their ability to prepare thorough and convincing marketing strategies, enhanced their understanding of strategic marketing issues and will have greater ability to provide high level advice in senior management and boardroom contexts.”

The participants came from a diverse range of professional backgrounds – from World Vision to Random House publishing – but Professor Lukas pointed out that the underlying principles of marketing apply to any industry.

Many participants from the non-for-profit sector were able to complete the program courtesy of scholarships offered by the GSBE.

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CEO of Australian Scholarships Foundation, Amy Lyden, said that these scholarships, valued at $2500 each, provided much needed support to the not-for-profit sector.

“Many not-for-profit organisations simply do not have the funds to access training and development for their people. Many funders want to see 100% of their money going to the program being delivered – feeding children in Africa for example – and therefore do not support funding administration costs,” she said.

Lyden says that operating constraints like these mean that staff working in the not-for-profit sector often miss out on the training opportunities available to those working in the corporate sector.

“Because of this lack of investment in training, there is a tendency for not-for-profit organisations to be less effective in delivering their programs.”

Lyden says that helping individuals who work in the not-for-profit sector to improve their skills will lead to better outcomes for the entire community.

“Strategic marketing is very important to the not-for-profit sector. Like for-profit businesses, they need to determine who their ‘customer’ is and where best to find them, how to make an emotional connection and market their brand.”

Those who participated in the program agreed. Jana Favero, who is the Marketing Program Manager at the Asylum Seeker Resource Centre (ASRC), said that she was attracted to the program as a way to hone her professional skills and provide exposure to innovative marketing strategies. “[Participation in] the program will significantly benefit the ASRC as I am responsible for using my marketing skills to help generate income to run our 25 programs and change community attitudes towards asylum seekers,” said Favero.

“Participants developed specialist marketing strategy knowledge, increased their ability to prepare thorough and convincing marketing strategies, enhanced their understanding of strategic marketing issues and will have greater ability to provide high level advice in senior management and boardroom contexts.”

Lyden argues that it’s actually more important for not-for-profits to employ strategic marketing.

“With limited resources, not-for-profit organisations have to be clever and innovative about how they market. And with traditional marketing models going out the door with the introduction of social media and other new media, it is even more critical for not-for-profits to keep abreast of these changes.”

Dealing with limited resources is something Favero can relate to in her work at the Asylum Seeker Resource Centre.

– Internet Marketing and Social Media 10-11 May 2011 – Executive Decision Making and Negotiation 2-3 June 2011 – CEO Connect July 2011 – Brand Leadership through Strategic Branding 11-13 August 2011 – Motivating and Managing Performance 20-21 September 2011 – Strategic Financial Analysis October 2011 – Forensic Witness Skills for Accountants (Date TBC) For full details about these programs offered by the GSBE please go to www.gsbe.unimelb. edu.au/programs/execedu.

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“At the ASRC we have limited resources for marketing innovation or professional development, therefore the course was of great benefit personally, building on my current skills, linking me with other marketing professionals and challenging the marketing strategies I have implemented. The program will help me make a bigger impact on the lives of some of the community’s most vulnerable.”

Below are Executive Education Open Programs running in 2011:

The Melbourne Microfinance Initiative

by Fernando Tamayo

The first and largest microfinance club in Australia has recently been established by an alumnus and group of passionate students at the Faculty of Business and Economics. Having a significant impact on reducing world poverty is now a day-to-day activity at our Faculty.

My journey towards an understanding of the issues of poverty and inequality began in 2008, when I was a first-year student. Hugh Evans, 2004 Young Australian of the Year, was invited to speak at the Future Leaders Forum, a Faculty initiative for BCom students, about the different faces of poverty and our role in resolving it.

I still remember his first sentence: two thirds of the world’s population lives on less than two Australian dollars a day.

This realisation had a deep impact on me and since then I have wanted to do something about it, make a difference and help eliminate poverty.

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I wanted to find a way that would help those in poverty to help themselves in all of those aspects. After spending a semester at the University of Pennsylvania as an Exchange student, I found what I was looking for: microfinance.

Microfinance provides millions of people living in poverty who have no credit history, collateral, or steady income access to basic financial services such as loans.

Nearly three billion people lack this access. The idea behind microfinance is that loans will provide the poor – in particular women – the opportunity to start up a small business and use the profits to improve their wellbeing.

The first question that I asked myself after Hugh’s talk was ‘What can I do to help?’

I quickly found that charity was not it; it lacked the sustainability to make a longlasting change in people’s lives.

Through Penn Microfinance, I was given the opportunity to see how microfinance works first-hand in Peru, and what I found was amazing.

Through Economics though, I learned that in order to take people out of poverty one must work on several areas including health, sanitation, education and nutrition.

A simple twenty Australian dollar loan to Maria Francisca, a 55-year old entrepreneur, helped her buy a cow from which she could produce milk, yogurt and cheese.

Members of the Melbourne Microfinance Inititaive

Let’s start making that change we all want to see in the world.

– Fernando Tamayo In a month’s time, she managed to earn eight times the initial investment, repay her loan, and have sufficient money to put her kids in school, buy medicine and eat better. In short, she was out of poverty, and all thanks to twenty dollars.

Coming back to Melbourne, I found that there was no microfinance organisation that provided students with the opportunity to experience what I saw in Peru. And even more astonishing, most students did not have any idea of what microfinance was.

And so, five passionate BCom friends and I started up what is now called the Melbourne Microfinance Initiative (MMI).

Founded in mid-2010, MMI is the first and largest microfinance club in Australia and is based at the Faculty of Business and Economics.

Our aim is to empower students with knowledge and experiences in microfinance, with the vision that they will take real action and help to end poverty within our generation.

In a little over six months, MMI has grown from a group of six students to an organisation of more than three hundred members, thus reflecting the interest of our Business students, staff and alumni to make a difference and improve society.

Through conferences, forums and networking sessions, we welcome industry leaders and academics to share with our members their knowledge in microfinance.

Last year’s inaugural talk, ‘An Introduction to Microfinance’, attracted more than 120 attendees, and it has now become our flagship event every semester under the name of ‘Microfinance 101’.

However, the heart of MMI is in our Country Initiatives. We strive to be an effective social impact group by helping NGOs in developing countries to improve their microfinance services to the poor.

Currently, we have more than forty members – mentored by Professor Jeff Borland and Dr Mabel Andalon – providing semester-long consultancy services to NGOs in Cambodia, Laos and Ghana.

The idea is that at the end of the semester, these students will visit the NGOs they work with and see first-hand how their projects are changing lives. In addition, through t-shirt sales and fundraising campaigns, we raise funds to invest in microfinance projects around the world.

As I mentioned earlier, helping to reduce global poverty is now a day-to-day activity at our Faculty.

Currently, MMI is operated by a team of twenty-five students and alumni and an Advisory Board formed by Professors Jeff Borland, Rob Brown and Nilss Olekalns.

Even though I am now an alumnus and work in Peru, I still have a keen involvement in running MMI.

Today, I invite you to join me and the team in making a difference. From sponsoring a particular event, to mentoring our initiatives and connecting MMI to the corporate world, you can take part in the largest microfinance movement in Australia.

To get involved contact us at: info@melbournemicrofinance.com or visit our website: www.melbournemicrofinance.com.

Let’s start making that change we all want to see in the world.

Fernando Tamayo is the Founder and former President of the Melbourne Microfinance Initiative. He graduated with a Bachelor of Commerce in Economics in 2010 and is a former AG Whitlam International Undergraduate Scholarship recipient.

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Other activities that we organise to raise awareness include ‘Microfinance in Africa’ – a talk on how microfinance can resolve poverty in Africa, the Global Student

Microfinance Day, and a bi-monthly newsletter with industry news and our own related research findings.

Business and Economics Alumni Council Alumni Council: Update from the Co-Chairs We have an excellent range of experience in the membership of the Alumni Council, and we have already held two very productive meetings this year.

Each of the four work-streams of the council – programs and services; alumni segmentation; philanthropy; awards and recognition – have commenced meeting and a number of priority areas have been identified.

We are giving careful consideration to the most effective ways to communicate with our alumni. As part of that process we are building our alumni database so that all graduates can take advantage of the benefits of being part of the BEA@M community.

We currently have email addresses for nearly 17,000 alumni, but we have a long way to go given that there are nearly 40,000 of us scattered around the world.

If you have received this magazine in hard copy, we may not have your email address on file – please update your details by sending an email to the Advancement Office on fbe-alumni@unimelb.edu.au.

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A number of international alumni reunions are being planned for this year, including alumni dinners in Hong Kong and Malaysia. If you are interested in organising a reunion for your cohort group, the Faculty’s Advancement Office can also assist in facilitating this.

We will soon be seeking formal feedback from you about future reunions – if you have ideas, do let us know so we can take these into consideration in our planning.

We would also welcome input from alumni about how you would like us to communicate with you, such as Facebook and LinkedIn. Finally, we would like to warmly congratulate the two winners of the Alumni of Distinction awards this year, Simon McKeon (Australian of the Year 2011) and Ross Cameron (former president of UMCAS). Please see the article on pages 6-7. For full details of the four award categories for 2012 visit www. fbe.unimelb.edu.au/alumni/awards.html – and start thinking about who you would like to nominate for the 2012 awards.

Chris Leptos AM and The Hon Jim Short Co-Chairs of the Business and Economics Alumni Council Email us: fbe-alumni@unimelb.edu.au Join our LinkedIn group: Business and Economics Alumni @ Melbourne (BEA@M)

Meet the members of your Alumni Council We asked each member of the council about their student experience, their careers and what inspires them.

Stephanie Barr BA (Media & Comms) (Hons) (2007); BCom/BA (Media & Comms) (2006) Business Consultant, Chalker Bar Group

Why did you study commerce?

“I believe that a strong understanding of economic principles, financial structures and business models greatly increases your ability to interact with the world and carve a successful path through life, no matter what your career choice.”

What do you hope to achieve through your role on the Alumni Council? “To promote ongoing engagement of alumni with the faculty and to ensure that an education with the Faculty of Business and Economics at the University of Melbourne is a qualification that will not only help you learn and grow during your time on campus, but continue to flourish and grow for many years after graduation and into your professional life.”

What are some of your other interests outside work? “When I am not working I enjoy tap dancing, curling (yes that ridiculous sport on ice with brooms that is featured in the Winter Olympics and the Hammerfall videoclip ‘Hearts On Fire’), cooking and of course eating!”

Joyce Au-Yeung

Angus Barker

Clare Cannon

B Com/LLB (2003)

BCom (Hons) (1991)

BCom (1981), MSc (1989)

Manager, Corporate Development, Australia Post

Managing Director, Mergers & Acquisitions, Deutsche Bank Australia

Director, the Cannon Group

What is your career highlight to date? “Being awarded National Winner of Deloitte Businesswoman of the Year 2008/09 and finally qualifiying as an actuary (Fellow of the Institute of Actuaries Australia) after many years of study.”

What is the best thing you’ve taken away from your time at uni? “It was the global opportunity set that a Commerce degree from the University of Melbourne opened up for me – the international recognition of the quality of a Melbourne degree is what created the opportunity for me to go on to study at Cambridge, and from there to pursue a career in international finance.”

What is the best thing you’ve taken away from your time at uni?

“Friendship and team work. University gave me the forum to meet a group of like-minded people and develop lifelong friendships. I was grateful for the opportunity to lead the Actuarial Students’ Society and International Commerce Students’ Society, where I learned some important lessons about teamwork.

In addition to sharing lot of fun times, my friends and I worked collaboratively throughout our time at university, leveraging each other’s strengths to achieve our personal best.”

What do you hope to achieve through your role on the Alumni Council? “To help more graduates find ways to re-engage with what’s been, for many of them, one of the most important influences in changing for the better the pathways of their own lives.”

What is your career highlight to date? “The opportunity to work and study overseas, and the extraordinary variety of people, places and deals that flowed from that.”

What are some of your interests outside of work? “Spending time getting re-acquainted with Melbourne and discovering all the great new things about living in this wonderful city, after many years spent offshore.”

What is your career highlight to date? “The formulation of a partnership agreement between Earthwatch Australia and Rio Tinto, one of the world’s largest miners, in 1990. This was breaking new ground at the time as mining companies and research/conservation organisations had little track record of working together.

The Earthwatch/Rio Tinto Partnership Agreement now forms the basis of any partnership agreement between Rio and any non-profit organisation anywhere in the world. Earthwatch and Rio continue to work together 20 years on.”

What are some of your other interests outside work? “Two of my great passions are the environment and cricket! Last year, I helped put together a laneway cricket match and Bollywood film night for graduate students of the faculty with the aid of Plan International to celebrate students who come from the subcontinent, as well as to raise money for the Pakistani flood victims.”

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What are some of your interests outside of work? “Working closely with Fitted for Work (FFW) as a member of the Advisory Committee. FFW is a not for profit organisation committed to preparing women experiencing disadvantage to achieve financial independence. It offers free business clothing, presentation and interview skills development, assisting women on their path to self sufficiency.

I also enjoy good food and wine, classical concerts and opera.”

Why did you choose to study commerce? “Business and economics was where many of my interests intersected: history, mathematics, financial markets, and the power of freedom and choice as an organising principle.”

Why did you study commerce?

“As a woman, if you want to be independent, you must be financially independent otherwise you will always have to rely on your husband or advisors in regard to money. Studying economics gave me not only career options, but life options.”

Meet the members of your Alumni Council (contd) Candida Costa-Wong

Jonathan Elliot

Edmond Lee

MIntBus (2006), BIntRels (2003)

BCom/LLB (Hons) (2006)

BCom (1988)

International Business Capability Adviser, Industry Capbility Network (ICN) Victoria

Associate, Gadens Lawyers

Director, Equity Derivatives, Société Générale Corporate & Investment Banking (Hong Kong)

What is the best thing you’ve taken away from your time at uni? “The amazing classmates I met from around the world.”

Why did you choose to study commerce? “International trade has always been my passion. Studying business was the right path to achieve my career objectives.”

What do you hope to achieve through your role on the Alumni Council?

“Engage more members of the BEA@M community into our activities and expand the alumni network.”

Michelle Di Fabio BCom/BIS (2006) Manager, Strategy, Policy and Product Development, HOSTPLUS Superannuation

What is the best thing you’ve taken away from your time at uni? “In my final year of study, I studied an exchange Semester at the Manchester Business School in the UK. I specialised in international marketing and management and met students from around the world, developing lifelong friendships and an international network. Whilst at University I was the President of the Financial Management Association of Australia (FMAA) and I enjoyed working with the national committees, organising events and promoting professional development.”

What is your career highlight to date? “I commenced my career working part-time in insolvency and moved to a graduate role in accounting at PwC, where I qualified as a Chartered Accountant.

I have since transitioned to working in Strategy at HOSTPLUS, applying my skills from accounting in Strategy, Policy and Product Development. I enjoy the challenge of working in Strategic Planning in a fast-changing, dynamic industry. “

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What are some of your other interests outside work? “I enjoy going to the football and supporting Collingwood and I am involved in a networking group within the Collingwood Football Club. I am also on the committee of the Royal Children’s Hospital Pied Pipers, a fundraising group for the Good Friday Appeal. I play tennis for Melbourne University Tennis Club and enjoy fashion and music.”

What is the best thing you’ve taken away from your time at uni? “I had a fantastic time at university and have taken away many positive things including the knowledge and skills that I apply in my work each day. However, the best thing for me has been the people that I met and the network of professional contacts and alumni that I’ve formed as a result of studying at the Faculty of Business and Economics.”

Why did you study commerce? “I’ve always been interested in business and understanding what drives business decision-making and more generally, the economy. Studying in the field of business and economics was a natural result of that interest and is ultimately what led me to pursue a career in the corporate world.”

What do you hope to achieve through your role on the Alumni Council?

“I’d like to contribute to the ongoing success of the Faculty of Business and Economics and the growth of the Faculty’s alumni community. In particular, I’d like to ensure effective engagement between the Faculty, alumni and the business community as well as continued support of the young alumni events.”

Gloria Goh BCom (Hons) (1982) Partner, Ernst & Young (Malaysia)

What is the best thing you’ve taken away from your time at uni? “Agility and the ability to adapt and respond to changes (global or local); life-long friendships.”

Why did you study commerce?

“I believed it would give me a strong foundation to develop any other skills/ expertise/career in the future. I could be in the professional services, corporate world, academia or be an entrepreneur.”

What are some of your other interests outside work? “I enjoy travelling, exploring and learning about other cultures. Mountain trekking in different continents remains a strong passion.”

Why did you choose to study commerce? “Economics and business have always been my interests since junior secondary school.”

What is your career highlight to date?

“I have written and published four books; the first three related to investment and the most recent one focusing on the role that parents play in teaching their children smart ways to manage their finances.”

What are some of your interests outside of work? “Youth education, the provision of social services for the elderly, taichi and travelling.”

Dennis Lee BCom/BIS (2004); Chartered Accountant (2007) Assistant Manager, McGrathNicol

Why did you study commerce?

“Choices and opportunities.”

What do you hope to achieve through your role on the Alumni Council?

“To support BEA@M in becoming the leading alumni association in the region and increase the participation and public knowledge of what we do, in particular, by promoting the concept of mentorship amongst the alumni community.”

What are some of your other interests outside work? “I have been a passionate Carlton supporter all my life and always follow the team. I also have a music background and sing bass for the Keytones Choir when I get the chance.

Otherwise, a good book, a good movie and travelling are always on my agenda.”

Upcoming events The Faculty of Business and Economics runs a range of events for alumni. These are advertised through the e-newsletter and on the website, and details will be announced as soon as they are available.

Reunions

Public Lectures 2011

Hong Kong Alumni Reunion July 2011

20 July Downing Lecture 2011 Speaker: Professor Richard Blundell, University College London Venue: Basement Theatre, Business and Economics Building (The Spot) Time: 6pm

40+ Annual Reunion Luncheon Melbourne, October 2011 Malaysia Alumni Reunion November 2011 Young Alumni Reunion Melbourne, November 2011 If you are interested in organising a reunion for your cohort, we’d be happy to assist – all it requires is a few enthusiastic champions! Please get in touch with us via the details at the end of this page.

3 August Corden Lecture 2011 Speaker: Professor Ronald Findlay, Columbia University Venue: Basement Theatre, Business and Economics Building (The Spot) Time: 6pm

Graduate School of Business and Economics Information Sessions 2011 10 May The University of Melbourne Graduate Study Expo Venue: Sofitel Melbourne, 25 Collins Street, Melbourne 3000 Time: 3.30pm to 6pm

14 May GSBE Open Day Venue: Business and Economics Building (The Spot), 198 Berkeley Street, Carlton Time: 10am to 1pm

Young Alumni events Three YA events are planned in June, August and October, in addition to the May session and the November reunion.

UNIVERsiTY Alumni events The University also organises a number of alumni events in Melbourne and internationally. To find out what’s happening in your city visit: www.unimelb.edu.au/alumni

MELBOURNE OPEN HOUSE Melbourne Open House (MOH) celebrates Melbourne’s architecture and design.

Our new building will be featured again in the 2011 program, with free tours of the building including the basement theatre, collaborative learning spaces and the blackwater treatment plant on level 13.

Come and visit the building on Saturday 30 July or Sunday 31 July.

For more info go to www.melbourneopenhouse.org

24 August Miegunyah Lecture 2011 Speaker: Professor Richard Freeman, Harvard University Venue: Copland Theatre, Economics and Commerce Building Time: 6pm 8 September Finch Lecture 2011 Speaker: Professor Paul De Grawe, Katholieke Universiteit Leuven Venue: Copland Theatre, Economics and Commerce Building Time: 6pm 9 September Finch Lecture 2011 – Student and Staff Seminar Speaker: Professor Paul De Grawe, Katholieke Universiteit Leuven Venue: TBC Time: 11am

Contact the Business and Economics Alumni Relations team: Alumni Relations, Faculty of Business and Economics Level 12, 198 Berkeley Street University of Melbourne VIC 3010 T: +61 3 8344 3507 F: +61 3 8344 2147 E: fbe-alumni@unimelb.edu.au W: www.fbe.unimelb.edu.au/alumni Join the LinkedIn group exclusively for the BEA@M community – Business and Economics Alumni @ Melbourne b

To stay in touch with what’s happening at the Faculty, and connect with alumni from around the world, you can ‘like’ our facebook page: Business and Economics Alumni at Melbourne Follow @BusEcoNews for the latest news and research of interest b

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18 October Foenander Lecture 2011 Speaker: TBC Venue: Theatre A, Elisabeth Murdoch Building Time: 6pm

23 June GSBE Info Session – Melbourne Venue: TBC Time: 6pm to 7.30pm

Leadership and learning are indispensable to each other.

- John F. Kennedy, 1963.

GSBE Never stop learning In today’s ever-changing environment, it is vital to understand the principles of business and economics, learn from experience and innovate in sustainable ways.

Success is built on strong foundations - you can be confident that’s not about to change. Australia’s newest business school just happens to be Melbourne’s oldest.

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At the GSBE we believe in teaching these principles through insightful teachers and great ideas, leadership programs, individual career planning and networking with industry. We develop graduates who can solve complex problems and provide leadership in business, government and the community. This means our graduates are able to initiate and implement constructive change and mentor future generations of learners.

Our academics bring their research to the classroom to combine rigour with fresh perspectives. The success of this approach has been demonstrated by our international ranking, strong partnerships and exceptional graduate outcomes. We never stop learning and neither should you.

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www.gsbe.unimelb.edu.au

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For details on upcoming GSBE information sessions please see page 17 or go to: www.gsbe.unimelb.edu.au/contactus/information-sessions.html 170091 Michelle 8/2/11 CoB 9/2/11 12noon

8/02/11 10:42 AM

MIKE