2013 Alumni Matters June

ALUMNI MATTERS Annual magazine for Business and Economics Alumni fbe.unimelb.edu.au/alumni Vol. 3 JULY 2013

Mentoring profiles

Top alumni win awards Pro-bono consultants

students and alumni support NFP sector

Understanding the Chinese property market

Social entrepreneurship unplugged

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Centre for Asian Business and Economics

Annual Foundation dinner

features

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03 Fatal flaws of the Gonski Report

04 Alumni of Distinction

08 Chinese property market

18 Alumni postcards

22 Social Entrepreneurship unplugged

26 Alumni mentoring

in this issue 02 Alumni Council update 03 Fatal flaws of the Gonski Report 04 Alumni of Distinction 06 Annual Melbourne Foundation Dinner

08 Chinese property market

20 Alumni profile: Dan Jackson

10 Business and Economics newsflash

22 Social entrepreneurship

16 Student focus 18 Alumni postcards

Cover image: Sally Macdonald (BCom 1990); photographed by Nick Clarkin Sally Macdonald was announced one of our Alumni of Distinction earlier this year. Read about her award and career success on p4.

28 First in the Family

25 Vale: Jean Kerr

30 Donor Roll of Honour 32 Upcoming events

26 Alumni mentoring

Alumni Matters July 2013 Edited by Anthea Barry Designed by Sophie Campbell, scdesign.com.au Authorised by the Director, Advancement ISSN: 1839-0420 Disclaimer: this information was correct at the time of printing.

The University reserves the right to make changes as appropriate.

Alumni Relations, Advancement Unit Faculty of Business and Economics Level 12, 198 Berkeley Street University of Melbourne VIC 3010 T: +61 3 8344 3507 E: fbe-alumni@unimelb.edu.au F: +61 3 8344 2147 W: fbe.unimelb.edu.au/alumni Twitter: @BusEcoNews b

RenRen: www.renren.com/BusEcoMelbourne

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Published by the Faculty of Business and Economics at the University of Melbourne, Alumni Matters is a magazine for alumni of the Faculty of Business and Economics. It is published once a year and is available in print and electronic format. The Faculty also publishes four editions per year of eComm, an e-newsletter for alumni.

If you would like to receive eComm, 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

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Business and Economics at Melbourne

Business and Economics Alumni University of Melbourne

墨尔本大学商 业经济学院

deans’ welcome Dear Alumni It is with great pleasure that we write to our readers of Alumni Matters for the first time as co-Deans of the Faculty of Business and Economics. Just two months into the collaborative agreement between the Faculty of Business and Economics and Melbourne Business School, the benefits of the collaboration are already clear across a number of areas.

In April, we went to market offering all graduate business and economics programs of the University of Melbourne under the brand of Melbourne Business School. The successful Graduate Open Day on 20 April was followed by similar well-received sessions at the University’s Graduate Study Expo and the University of Melbourne’s Open House program in China – a strong message that we truly are an international precinct of Business and Economics education in Melbourne.

The value we place on our relationships with alumni – whether through the University, Faculty or Business School – remains unchanged. Over the coming months the alumni relations teams of both the Faculty and Melbourne Business School will be working closely together to ensure all alumni continue to access a broad and relevant alumni program, which will include increased offerings and networking opportunities within an extended global community.

Along with the University’s program of alumni benefits and services, this presents multiple opportunities that cater to a broad range of alumni needs including lifelong learning, professional development and career support, social reconnection and opportunities for being involved in and supporting the student experience, which many alumni find one of the most rewarding aspects of their ongoing association with the University. Details of upcoming events for alumni can be found on p32-33.

Acknowledging our Mentors Over the past decade, the Faculty’s mentoring program has witnessed tremendous growth due to very strong alumni support. In addition to the original career mentoring program now in its 11th year, eighteen senior executives are mentoring our second-year Copland Scholars – high-achieving students who are recipients of a Chancellor’s scholarship.

This year we are also running a pilot for international alumni mentors and planning is underway between the Business and Economics Alumni Council and the Careers Centre for an alumni-to-alumni mentoring program, so watch this space.

We want to sincerely thank all of our alumni mentors, who now number more than 120, and those alumni who participate as volunteers in numerous other ways.

With strong corporate support and a global network of generations of alumni (from graduate trainees to CEOs to politicians), we now have the opportunity to deliver even more exciting internship, career, mentoring and business case opportunities for our students, and collaborative research, policy inquiry and executive education opportunities for our academics.

Professor Zeger Degraeve

Professor Paul Kofman

Dean, Faculty of Business and Economics

Dean, Faculty of Business and Economics Sidney Myer Chair of Commerce

In order to achieve research, teaching and engagement goals, universities will increasingly have to seek alternative sources of funding, such as philanthropic support and investment.

In this climate, it is encouraging to note that private philanthropic support for the Australian higher education sector is growing. We would like to thank every one of our alumni who continue to support our goals in this way. Your donations ensure that we have the necessary resources and facilities to deliver world-class research, to provide unmatched thought leadership, and to support the next generation of brilliant minds.

The University celebrates 160 years

Funding cuts to universities

Philanthropy is not new to the University.

As we celebrate our 160th birthday this year, a special website dedicated to our history includes a section on philanthropy at the University, telling the stories of some of our most well-known philanthropists.

You can visit the website at www.ourhistory.unimelb.edu.au. Events will be held throughout the year to commemorate this milestone, including a special Golden Alumni Celebration luncheon for our most senior alumni.

On a more sobering note, we echo the sentiments of Vice-Chancellor Glyn Davis and Universities Australia in their response to the announcement of funding cuts to universities across Australia amounting to $2.8 billion.

We hope that you enjoy this year’s edition of the alumni magazine. We look forward to your ongoing support in this exciting time ahead as we pursue our goal of attaining a position within the top 25 schools of business and economics in the world.

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alumni council

Alumni council update Joyce Au-Yeung, Simon Bolles, Larisa Moran, Angus Barker (Chair), Michelle Di Fabio (Deputy Chair), Aditya Chibber and Stephanie Barr

As Chair of the Business and Economics Alumni Council it gives me great pleasure to report on our activities over the past year and our plans for the twelve months ahead.

The purpose of the Business and Economics Alumni Council is to support the Faculty’s mission by fostering a lifelong connection with its global alumni community. Over the past twelve months, in addition to an active program of events open to alumni such as the Faculty public lecture program, master class series and alumni-to-student mentoring, the Faculty piloted a successful series of cohort-year reunions, which we will build upon in 2013 – more on this below, so do read on!

The first term of the inaugural Council finished at the end of last year, resulting in a number of changes in membership.

The Hon. Jim Short stepped down from his role as Co-Chair. Jim (and our other former Co-Chair Chris Leptos, who stepped down earlier in 2012) have been tireless advocates and supporters of the Faculty for many years. We look forward to their continued support, albeit in a more informal capacity.

I would also like to thank outgoing members Clare Cannon, Candida Costa-Wong, Dennis Lee and William Zhang and acknowledge their efforts, particularly on the work-streams.

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Larisa Moran and Jessie Wong were appointed to the Council this year, with Simon Bolles, Aditya Chibber and Haofei Feng announced as our successful candidates in the Alumni Council elections held late last year. It was very encouraging to see nearly three times as many alumni vote in these elections as compared with

the first elections held when the Council was established in 2010. We rely on members of the alumni community to get involved and participate to make this a truly representative Council.

The Young Alumni sub-committee, which exists to support our very active young alumni cohort, has also welcomed several new members to its ranks. I’d like to acknowledge Stephanie Lin (Chair) and Aditya Chibber (Deputy Chair) for the dedication and hard work that they have invested in the young alumni program.

Most of the work of the Alumni Council happens within the work-streams, comprising 4 or 5 members tasked with tackling specific areas of alumni focus.

Priorities for the current two-year term are reflected in the following work-streams: •

Domestic Events

•

International Events

•

Alumni Connections and Communications

•

Careers Support and Professional Development

•

Alumni Giving and Volunteering

•

Alumni Recognition

Building on the success of last year’s cohort reunions, we’ve expanded in 2013 with three reunions being held this month and next for alumni who started their degree in the 1970s, 1980s and 1990s.

The University’s 160th anniversary is being celebrated with a special Golden Alumni

luncheon in Wilson Hall in October for graduates of 50+ years ago, and there are big plans underway for a young alumni reunion event in the form of a Commerce Ball Reunion for graduates 35 years and under. Please refer to the events page at the end of this magazine for all the details.

If you haven’t received an invitation for your reunion it is most likely because the Faculty doesn’t have your email address – so I do encourage you to check and update details via the alumni portal, In Touch, at alumni.unimelb.edu.au, or keep in touch by joining our Facebook (facebook.com/ BusEcoMelb) and LinkedIn groups (search for Business and Economics Alumni, University of Melbourne). This will keep you abreast of all the latest alumni events and news.

Finally, I’d like to congratulate Professor Paul Kofman and Professor Zeger Degraeve on the collaboration agreement reached by the Faculty of Business and Economics and Melbourne Business School. It builds upon the Faculty’s recent rankings as a leader in the Asia-Pacific region, and lays the foundation for an even stronger combined offering to future students of the Faculty, particularly at the post-graduate level. It’s a fitting example of the University motto in action – Postera Crescam Laude, “We grow in the esteem of future generations”.

Angus Barker (BCom Hons 1991) Chair, Business and Economics Alumni Council

faculty research

Five fatal flaws of the Gonski Report Amidst the recent discussions of the Federal Government funding of the Gonski education reforms, researchers from the Melbourne Institute and Ben Gurion University in Israel recently released a policy brief which found that the Gonski Report rests on five faulty assumptions that will undermine its usefulness as a cornerstone of Australian education policy.

The study, What’s wrong with the Gonski Report: funding reform and student achievement, found the Gonski Report was “significantly flawed” due to its reliance on the relationship between student achievement and resources as well as assumptions about the Schooling Resource Standard (SRS), the centralisation of school systems, international test rankings and private school financing.

Likewise, Associate Professor Ryan said the SRS used within the Gonski Report to determine the base funding level per student that all schools would receive was inherently flawed.

“The approach to determine the SRS did not consider the impact of student background on achievement, and as such can’t guarantee the student achievement targets will be met,” he said.

Researchers from the Melbourne Institute at the University of Melbourne and Ben Gurion University, Israel, compared the 2012 Gonski report with international research on education funding and structure.

Co-author of the research, Associate Professor Chris Ryan from the Melbourne Institute said while the Gonski Report declared that additional resources to schools would have a substantial impact on student achievement and improve their performance, additional resources provided to Australian schools in recent decades had not resulted in improved student performance.

“International academic research in economics and education suggests the effect of additional resources on standardised test scores is, at best, small,” he said.

“The Gonski Report offers many valuable insights for school reform but considering it is being used to chart Australia’s future course on education, it is imperative that fundamental weaknesses within its assertions about funding are illustrated,” said Associate Professor Ryan.

What’s wrong with the Gonski Report: funding reform and student achievement is the second release in the 2013 Melbourne

Public education in Australia accounts for only 60 per cent of students in primary and secondary schools, much less that in the United States and most European countries.

Other outcomes from the research include: •

International evidence disputes the notion that a more centralised education system will function more efficiently;

•

Discussion over whether the standards and rankings favoured by the OECD are applicable to Australia;

•

Debate on whether there can be an objective, professional basis for determining the appropriate level of public funding of private schools.

Institute Policy Briefs Series. The Policy Briefs Series examines current policy issues and provides an independent platform for public debate. The full study is available at melbourneinstitute.com/ alumni/pbs2013.html.

Listen to Associate Professor Chris Ryan talk about the Five Fatal Flaws of the Gonski Report: http://tiny.cc/f7usyw

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alumni awards

2013 Alumni of Distinction

Dean Professor Paul Kofman announcing the 2013 Alumni of Distinction at the Foundation dinner

The Faculty of Business and Economics celebrates and honours the outstanding contribution by alumni to government, business, education and the not-for-profit sector through the prestigious Alumni of Distinction awards.

Recipients are announced annually at the Melbourne Foundation for Business and Econonics annual dinner, which was held in March this year in the magnificent Great Hall at the National Gallery of Victoria. This year’s four Alumni of Distinction were honoured at the dinner.

The Faculty has established an annual lecture in Max’s name; each year a distinguished international economist is invited to deliver the Corden Lecture. For details of this year’s Corden Lecture please see the events listing at the end of this magazine.

The Contribution to Faculty or University Award for significant and sustained contribution was awarded to Professor W. Max Corden AC (BCom Hons 1950 MCom 1953 DCom 1995).

The Lifetime Achievement Award for consistent, sustained and outstanding achievement and leadership in business, government, academia or the non-profit sector was awarded to Khun Mechai Viravaidya AO (BCom 1965 LLD 1993).

Mechai Viravaidya has been credited with saving millions of lives through raising awareness of HIV/AIDS in Thailand.

Professor Corden, Honorary Professorial Fellow in the Faculty of Business and Economics, is widely regarded as the most important Australian international trade economist of his generation.

Recognised globally for his scholarship and development of international economics, his outstanding achievements and leadership in these fields have been undertaken in the UK, the US and Australia. He has lectured, published and been honoured around the globe.

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After graduating from the University of Melbourne Professor Corden was awarded a PhD from the London School of Economics. His various distinguished positions include posts with the British National Institute for Economic and Social Research, the ANU, Nuffield College at Oxford, Harvard, the IMF and the Paul H. Nitze School of Advanced International Studies at Johns Hopkins University.

Whilst at the ANU in 1982 he developed, with Peter Neary, the classic economic model describing the Dutch Disease. From 1982 to 1990 Professor Corden was a member of the Group of 30, a prestigious and influential international group of leading academics and senior business leaders.

In 1974 Khun Mechai founded the Population and Community Development Association (PDA) to address the unsustainable population growth rate in Thailand of over 3% annually. A variety of humorous, innovative, and unorthodox methods were utilised in conjunction with mobilising and educating a network of rural school teachers and village community members to make contraceptives available

Khun Mechai has held key positions of Thailand’s Cabinet spokesman, the Minister of the Office of the Prime Minister and Chairman of several of Thailand’s largest government-owned enterprises.

For his efforts in various development and educational endeavours, Mechai Viravaidya has been acclaimed with numerous awards, recognition, and honorary doctoral degrees. These include the United Nations Population Award, the Bill and Melinda Gates Award for Global Health, the Prince Mahidol Award for Public Health, the Ramon Magsaysay Award for Public Service, and the Skoll Award for Social Entrepreneurship. He was also named one of Asiaweek’s 20 Great Asians, and one of TIME Magazine’s Asian Heroes to mark the magazine’s 60th year of its publication in Asia.

For consistent, sustained and outstanding achievement and leadership in business, government, academia or the non-profit sector outside Australia, Sally Macdonald (BCom 1990) received this year’s International Award.

Mechai Viravaidya has been credited with saving millions of lives through raising awareness of HIV/AIDS in Thailand. throughout Thailand, resulting in a more sustainable population growth rate of 0.5% by 2003. When HIV/AIDS first appeared in Thailand in the mid-1980s, similar methods were used to launch a major prevention program, resulting in a 90% decline in new infections and an estimated 7.7 million lives saved within 12 years.

The CEO and MD of Oroton Group Limited, Sally is recognised as a leader in the retail industry in Australia, driving change in retail and expanding an iconic Australian brand into Asia. Sally has held positions at The Boston Consulting Group in Melbourne and New York, and at Banana Republic (a division of The Gap) in San Francisco and received her MBA from Harvard.

Alumni of Distinction award recipients Charles Goode AC (2012) and Professor Max Corden AC (2013) speak to guests at the Foundation dinner

Sally is renowned for her leadership of the Oroton group, turning a $9.4 million loss into a $9.8 million profit in 2006. Within her first year of leadership, shares in the company had almost tripled. Generating unheard-of returns on equity in any sector, let alone the retail business, Sally achieved a remarkable turnaround to save an Australian icon, and was named as the number one CEO by Crikey in 2010 for having Top CEO values.

Sally was named as the number one CEO by Crikey in 2010 for having Top CEO values.

Sally has led Oroton’s expansion into the Asian market, taking an Australian luxury brand abroad. Since opening in Hong Kong, Oroton has also opened a boutique in Singapore, with a further three stores planned for Singapore and Kuala Lumpur, and is considering other sites in Southeast and North Asia as well. Entering Asia marks a game changer for Oroton as it goes in to compete with global brands such as Coach, Kate Spade and Marc

by Marc Jacobs in the more developed Asian market.

Anthony is the founder and CEO of Kaggle and, at the age of 29, is considered a global leader and innovator in data science and predictive modelling.

Before founding Kaggle, Anthony worked in the macroeconomic modelling areas of the Reserve Bank of Australia and the Australian Treasury. A first class honours student in Economics and Econometrics, Anthony secured an internship with The Economist, where he was inspired to learn more about the issues facing companies about ‘big data’ and predictive modelling.

Currently based in San Francisco, Anthony founded Kaggle, an innovative solution for statistical analytics outsourcing and a leading platform for predictive modelling competitions, in Australia in 2009.

Investors include PayPal co-founder Max Levchin, Index Ventures, Khosla Ventures, Google Chief Economist Hal Varian and Ron Conway’s SV Angel.

Anthony is globally renowned as an innovator in the technology industry, changing the way companies think about solving ‘big data’ problems.

Anthony Goldbloom

In less than four years, Anthony has built a unique company, like no other in existence, of a community of 70,000 data scientists globally. He has been named as one of Forbes’ 30 under 30 for 2011 and 2012 in technology, and by Fast Company as an innovative thinker changing the future of business.

Nominations for 2014 awards are sought from the alumni community and can be submitted online year-round.

For details of award categories, eligibility criteria and how to nominate alumni for an award, please visit fbe.unimelb.edu. au/alumni/alumni_awards.

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Sally was a founding committee member of the Financial Management Association of Australia (FMAA) at the University of Melbourne.

The fourth and final award, the Rising Star Award for Young Alumni, is awarded to an individual under 35 years of age who has demonstrated an outstanding level of professional achievement and community involvement since graduating.

This year’s recipient is Anthony Goldbloom (BCom Hons 2006).

Melbourne Foundation

third annual Melbourne Foundation Dinner secures event as key date in business calendar The stunning backdrop of the National Gallery of Victoria, an A-list star and a scholarship recipient working in non-compliance for the Tax Office, were all highlights of this year’s highly successful Melbourne Foundation for Business and Economics dinner.

Business and Economics Board member Paula Dwyer gives a vote of thanks to the Vice-Chancellor on behalf of the business community

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The annual Foundation dinner has become a significant date in the diaries of Melbourne’s most influential business men and women.

This year 600 guests came together in the Grand Hall of the National Gallery of Victoria to support the Faculty of Business and Economics, recognise alumni who are shaping the world and see “philanthropy in action” through faculty scholarship recipients.

The Chairman of the Foundation Board, Mr Tony Burgess, welcomed guests and announced the Foundation’s philanthropic priorities for 2013: First in the Family Scholarships, supporting talented students who have experienced financial hardship and are the first in their family to attend university; the Dean’s Fund, enabling funds to fuel innovation for student-driven initiatives; and Access scholarships, to ensure broader access to attract the best and brightest students. These priorities directly correlate with the Faculty’s mission of enabling excellence, opportunity and innovation.

Dean of the Faculty, Professor Paul Kofman, gave an insightful update on the Faculty’s focus on the Asian Century and its strategy around engagement with Asia.

The appointment of Professor Jane Lu to the James Riady Chair in Asian Business and Economics – donated by alumnus Dr James Riady – is a first step towards the establishment of a Faculty-wide Centre of Asian Business and Economics, which will address regional issues and create a nexus to collaborate with key researchers and policy makers in the region.

Professor Kofman also announced the 2013 Alumni of Distinction Awards. The Faculty of Business and Economics has over 40,000 alumni around the world who are making remarkable contributions in their chosen fields. This year’s recipients are Anthony Goldbloom (BCom Hons 2006) as the winner of the Rising Star award for Young Alumni, Sally MacDonald (BCom 1990) as the winner of the International award, and Khun Mechai Viravaidya (BCom 1965 LLD 1993) taking

out the Lifetime Achievement award.

The winner of the Contribution to Faculty and University award went to Professor Max Corden (BCom Hons 1950, MCom 1953, DCom 1995) for his internationally recognised research and teaching.

(See p4 for more detail on the Alumni of Distinction.)

The Faculty was fortunate to have University Vice-Chancellor Professor Glyn Davis deliver the key-note speech.

Professor Davis provided a remarkable and personal insight into the University, its strategies and goals, and the ultimate success of the controversial Melbourne model.

The test of the model is the quality of the students who want to use it, the quality of the experience we give them and the quality of the employment opportunities when they graduate.

Vice-Chancellor Professor Glyn Davis

“I think the University can be proud. We set out to be world class. We are now ranked in the top 30 universities in the world by the Times Higher Education of London.

And there’s a large and growing gap between us and our nearest competitor.”

During the evening, the event practically came to a standstill when the ‘lady in red’, a.k.a. Jerry Hall, floated into the room.

A guest on one of the sponsored tables, Ms Hall took a night off from her work in the Melbourne production of The Graduate to attend the dinner and proved to be quite the talking point!

The day I accepted the scholarship, I promised myself I would prove to the Faculty, as well as donors, that they did not make the wrong decision.

Natalie Ngo

Despite hearing from the Dean of the Faculty, the Vice-Chancellor of the University and having a celebrity in the room, it was second-year BCom student, Natalie Ngo, who really stole the show.

Natalie, a recipient of the Commerce Opportunity Bursary, told her remarkable story of migrating to Australia from Vietnam in 2006, the challenges faced by a single income family in a new country, attending the Mac.Robertson Girls’ High School, and being awarded a scholarship made possible by philanthropy.

Natalie has utilised every opportunity made available by the Faculty and University, including representing Australia at the World Trade Organisation Public Forum in Geneva, participating in the Faculty’s mentoring program, organising networking events and holding the role of Financial Director for the Melbourne branch of the Asia-Pacific Youth Organization.

She was also offered a cadetship at the Australian Taxation Office where, she told guests, “for the duration of my degree, I get to work in an area called Serious Non-Compliance, where they prosecute taxpayers for failing to lodge income tax returns.” It was this statement that had the entire room laughing wholeheartedly and some a little nervously.

Alumni Yimo Duan, The Hon. Jim Short, Peter Yates AM (Chair, Business and Economics Board), Tony Burgess (Chair, Foundation Board) and Rodd Levy at the Foundation dinner

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Natalie’s words resonated with guests and the evening raised more than $455,000 for the Melbourne Foundation for Business and Economics. The dinners have now raised more than $1.5 million for the Foundation since the inaugural event in 2011. This success is thanks to the leadership and tireless efforts of the Foundation board and the many guests who donate so generously to the Foundation to achieve the Faculty’s continuing mission.

alumni perspective

Understanding the Chinese Property Market Many commentators state that the Chinese property market is experiencing a huge bubble, the bursting of which could have far-reaching consequences. The Chinese government has taken various actions to reduce speculation in the property market, including monitoring capital flows from abroad, increasing interest rates and increasing the minimum down payment on mortgages.

Despite the above measures, prices continue to rise. In March, average house prices increased by 1 percent from the previous month and by April they had increased another 0.9 percent. These rises are blamed on various factors, including inefficient stock markets.

Alumni Matters spoke with Beijing-based alumna Cheng Jing to get her analysis on market performance in China.

The China reality is the same for any large country – one story cannot tell the whole tale. Instead, the property market can be divided into three different market types based on performance: primary leading markets, performing markets and stagnant markets.

In primary leading markets, seen in locations such as Beijing, Shanghai and Sanya, property prices still have the potential to rise further. Properties in these markets are well recognised as “rare resources” and their record of good performance has been proved again and again. Even in the global financial crisis, prices remained

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steady with only the interest rate falling.

Demand and purchasing power in this segment is driven by the national and international market rather than by local demand, and the limited availability of land and property together with unlimited capital supply has, unsurprisingly, led to the rise in property prices.

Urbanisation is an ongoing motivation for real estate market performance.

Primary leading markets own unparalleled advantages in areas like education, employment and medical care. Each year tens of thousands of graduates leave school, move to the

big cities, find jobs, get married, start families – and their parents often come from their hometown to stay with them.

Good employment and business opportunities, access to resources and the increasingly global environment in these major cities attract people from not only China but the rest of world.

Considering the huge wealth accumulated in these cities, rather than a bubble with an uncertain fate, property prices are reasonable and acceptable, and especially so when compared to those in cities such as New York, London and Tokyo.

Shenzhen, Guangzhou, Chengdu, Xi’an, Qingdao, Hangzhou and Nanjing are examples of performing markets.

In performing markets, there is a steady and ongoing demand similar to that in primary leading markets, however, a weaker positive trend.

Compared with surrounding rural areas, towns and villages, the cities in performing markets have obvious advantages and attractions, making them ideal immigration destinations for people from surrounding areas.

Property prices won’t collapse since demand still exists, and prices won’t keep rising since purchasing power is driven by local citizens’ salaries and savings, and largely unaffected by the influence of national or international capital absorption. If prices were aimed at the same level as seen in primary leading markets, the property market would be at high risk of collapse.

The third market type, the stagnant market, is evident in cities such as Wenzhou (in Zhejiang province) and Ordos (in Inner Mongolia). In a relatively short time Wenzhou and Ordos have benefited from a remarkable increase in wealth, attributed to the outstanding business acumen of the local population and the advantages afforded by incomparable natural resources.

Even though short-term fluctuations exist, primary leading markets and performing markets are still ideal places for long-term capital investment.

As a result, huge capital rushed into the local property market and prices were pushed up at a rate even higher than that witnessed in primary leading markets. But because cities like Wenzhou and Ordos are unlikely destinations for immigration, supply soon exceeded demand.

Without the social and commercial incentives like those seen in locations with performing markets, stagnant markets are not able to offset unreasonably high prices. A better analogy to describe the resulting debt and bankruptcy seen in the real estate business here would be that the market is recovering from a fever, rather than a bubble being burst.

For foreign investors, confidence in investing in property in China is fuelled by continuous development as a result of ongoing urbanisation across the country. Even though short-term fluctuations exist, primary leading markets and performing markets are still ideal places for long-term capital investment.

From my personal observation, the most significant uncertainty comes from government policies. Strict government

control policies may be published without any notice and suddenly freeze market demand and purchasing power dramatically.

It is advisable for foreign investors to put more energy into researching the local market, visiting the appropriate government departments to access city development plans, and maintain frequent communication with local agencies rather than reading market research reports alone. Wise investment decisions come from on-site investigation and high commitment to understanding the local market.

Cheng Jing has worked in the Chinese real estate industry for several years and is currently Marketing and Operations Director at Taikang Real Estate, a position she has held since 2011. Prior roles include Investment Manager and Project Consultant at Savills, a leading global real estate service provider. Cheng graduated from Melbourne Business School (then Graduate School of Business and Economics) with a Master of Applied Commerce (Marketing) in 2006.

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newsflash

Business and Economics Newsflash

Rupert Myer AM, Professor Stewart Leech (Co-Director of CAIP), Professor Emeritus Murray Wells (2012 Inductee) and Professor Emeritus Graeme Dean at the 2012 award ceremony

Australian Accounting Hall of Fame The Australian Accounting Hall of Fame award recognises individuals who are making or have made a significant contribution to the advancement of accounting in Australia.

The late Professor Allan D. Barton, previously from ANU, and Mr Kevin Stevenson, Chairman and CEO Australian Accounting Standards Board, will be inducted into the Australian Accounting Hall of Fame this year.

The highlight is the Annual Dinner and Awards Ceremony where the recipients are celebrated and inducted into the Hall of Fame. This year’s dinner will be held on Wednesday 24 July. For further details or to purchase tickets to the dinner please visit fbe.unimelb.edu.au/accounting/caip/aahof/registration.

Competition in the Online Environment As the internet becomes an increasingly important part of the Australian economy and society, understanding and supporting the pro-competitive dynamics of the online environment is of greater importance for policy-makers and regulators.

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The Intellectual Property Research Institute of Australia (IPRIA) is a collaborative research centre located at the University of Melbourne with significant funding from IP Australia. The core faculties are the Faculty of Business and Economics, the Melbourne Law School and Melbourne Business School.

Last November IPRIA co-hosted the Competition in the Online Environment Conference with Google to discuss research on the economics, management, marketing and legal analysis in

this relatively new area of debate in Australia.

This thought leadership is underpinned by independent academic research commissioned

by Google and undertaken by Professor Bob Harris, University of California, Berkeley; Professor Stephen King, Monash University; Professor Catherine Tucker, Sloan MIT; and Dr Alexandra Merrett, the University of Melbourne.

Papers and presentations are available online at www.ipria. org/events/conf/Competition_ Conference/Default.html

New centre for Asian Business and Economics The Faculty of Business and Economics has made a clear statement about its strategic intentions in the Asian region by appointing a renowned Asian business expert to the inaugural James Riady Chair in Asian Business and Economics.

Professor Jane Lu, most recently from the National University of Singapore’s Business School, will play a leadership role in developing Asian-focused teaching and engagement activities.

In 2012 the Faculty of Business and Economics developed a comprehensive Asia Strategy. A key part of this strategy is to build our strength in research, teaching and engagement with the region. As part of the strategy, we aim to develop a new Centre for Asian Business and Economics. A key part of Jane’s role will be working with the senior leadership of the Faculty to develop a plan for the new centre.

“The James Riady Chair sits at the heart of our dedicated Asian Business and Economics Centre within the Faculty, and the appointment of Professor Lu ensures we have a candidate with the deep expertise and knowledge to build on our existing links to deliver invaluable research and powerful insights into this region.”

Professor Paul Kofman, Dean of the Faculty

Professor Lu brings to the role an outstanding track record of research in international business strategy. Her applied work on Japanese Foreign Direct Investment in China, Joint Ventures of Small and Medium Sized Enterprises and Venture Capital and Business Group Affiliations in the Asian region is internationally regarded.

Professor Jane Lu will be presenting her inaugural professorial lecture on Tuesday 12 November. Please refer to the events listing at the end of this magazine for details.

The James Riady Chair in Asian Business and Economics is funded through a generous donation by Dr James Riady, an alumnus of the Faculty of Business and Economics, with the objective of supporting teaching and research that drives a deeper understanding of doing business in the Asian region.

As Chair, Professor Lu intends to communicate her research outcomes through a range of public engagement activities including lectures, seminars and conferences that will assist in enhancing understanding of doing business in Asia.

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newsflash

New Heads of Department Accounting Professor Anne Lillis was appointed the Department of Accounting’s new Head of Department from March 2013. As a prolific researcher in management accounting, and having held a number of leadership roles within the Department and in the field of accounting, Professor Lillis brings a wide range of experiences and expertise to this role. She currently chairs the Institute of Chartered Accountants Australia’s Management Accounting Module Advisory Panel, and serves as a member of their Education Board.

Professor Lillis is actively engaged in academic and governance activities of the American Accounting Association Management Accounting Section and serves as an Associate Editor of the Journal of Management Accounting Research. She is also a member of the editorial boards of several major accounting journals; Accounting, Organizations and Society, Contemporary Accounting Research, Behavioural Research in Accounting, Abacus and the European Accounting Review.

Her research interests focus on field studies of the design and behavioural influence of performance management and control systems. Her research is widely published and she has presented internationally at various institutions throughout Australasia, Europe and North America.

After receiving her PhD in Accounting from the University of Melbourne, Professor Lillis has gone on to a distinguished academic career. Having previously held positions at the Australian Taxation Office as well as at La Trobe and Deakin Universities, she joined the University of Melbourne staff in 1998. She has taught at undergraduate, masters, executive and PhD levels while undertaking research in the area of management accounting.

Having played an instrumental part in achieving AACSB accounting accreditation, Professor Lillis has shown a steadfast dedication to strengthening the Department’s reputation for quality in teaching, research, and engagement. As the new Head of Department, she will play a major role in seeking to further the Department of Accounting’s commitment to intellectual leadership in accounting education and research in Australia and the Asia-Pacific region.

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Economics Professor Bill Griffiths was appointed a Professor of Econometrics in the Faculty of Business and Economics in 2001 and since then has held at various times the positions of Associate Dean (Undergraduate Studies), Deputy Head of the Department of Economics and Director of the Centre for Microeconometrics.

He was appointed Head of Department at the end of 2012.

After graduating from the University of New England with a B.Ag.Ec (Hons) and undertaking a PhD at the University of Illinois, Bill has held a number of academic positions including as Research Associate in Agricultural and Applied Economics at the University of Minnesota (1971), Lecturer, Senior Lecturer and Associate Professor of Economic Statistics at the University of New England (1972-85), and Professor of Econometrics at the University of New England (1986-2001). He was Head of UNE’s Department of Econometrics in 1984-88, 1989-93 and 1997-98.

He has held visiting appointments at Louisiana State University and at the Universities of Georgia (Athens), Illinois (ChampaignUrbana), and California (Berkeley). He was elected Fellow of the Academy of Social Sciences in 1995, and has served as a member of the ARC College of Experts (2007-9).

Bill’s research interests are statistical inference for welfare measures and applied Bayesian econometrics.

Finance Associate Professor John Handley joined the Department of Finance in 1993 and was appointed Head of Department in August 2012. He teaches corporate finance, investment and derivatives subjects at both undergraduate and postgraduate levels.

Before joining the University, John spent three years with an international accounting firm (now PricewaterhouseCoopers) and five years in corporate finance in an investment bank (now UBS). He has also been a visiting associate professor of finance at New York University Stern School of Business since 2009.

John’s research interests are in corporate finance, derivative security pricing and corporate finance applications of derivative security pricing. He has published papers in several leading business journals and has also co-authored a case study published in the Harvard Business School Case Collection.

He holds Bachelor degrees in Commerce and Mathematics from the University of Newcastle, a Masters degree in Commerce and PhD in Finance from the University of Melbourne.

Management and Marketing Professor Leisa Sargent is a Professor of Management in the Faculty of Business and Economics and was appointed Head of Department early this year.

Leisa has been an expert witness in the Industrial Relations Commission focusing on the detrimental effects of job changes in the Australian aged care sector and has co-authored a submission to the Senate inquiry on Aged Care.

Her organisational research includes careers, job transitions, retirement, work and stress and team effectiveness. Leisa has consulted to large complex organisations both in Australia and North America. She is currently publishing findings from an Australian Research Council grant which delivers an evidence-based approach to developing leadership capabilities.

In 2010 Leisa was awarded the Pearson Australia and New Zealand Academy of Management Educator of the Year. She has a keen interest in teaching and learning, and has published in the Journal of Management Education and co-authored several works on student virtuality and team work.

Leisa was awarded her Ph.D. from the Rotman School of Management at the University of Toronto and holds undergraduate and masters degrees in psychology from the University of Queensland. She has held posts at Cornell University and Queensland University of Technology.

“I am delighted to be the new Head of Department. It is filled with outstanding academics committed to world-class business education for our undergraduates right through to our executives.

Our focus is on high impact research that is motivated by a strong engagement with business and other key stakeholders.”

Journeys Home Speaking at the National Homelessness Services Achievements Awards last month, Minister Mark Butler announced that additional funding for the Journeys Home study, led by staff at the Melbourne Institute, would be provided to enable a further two survey waves.

Journeys Home is a longitudinal study that is following a sample of Centrelink customers who have faced, or are facing, serious housing difficulties. The fourth wave of fieldwork is currently underway, with close to 85% of the original sample successfully re-interviewed with another two weeks of interviewing still to come. These high re-interview rates are one reason for the Government’s renewed commitment to the study.

melbourneinstitute.com

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The study is now set to continue until at least the end of 2014, and will provide a detailed picture of the housing circumstances of this sample of disadvantaged people over a 3-year period. The additional government funding (in times of significantly constrained government budgets) recognises the Melbourne Institute’s reputation for high quality, high impact, policy-focused research projects.

newsflash

2012 Economic and Social Outlook Conference The hosting of the eighth Economic and Social Outlook conference by the Melbourne Institute and The Australian last November once again placed the Melbourne Institute in the national spotlight and at the centre of public policy debate and analysis.

Participants at the conference concentrated on identifying strategies for Australia to not only cope with, but thrive in, a volatile world.

Conference session topics included the likely impact on Australia of recent developments in international finance markets, the issue of economic change in Asia, reform in Australian health care and education, federal financial strategies, Australia’s ageing population and future fiscal challenges facing Australian policy-makers.

The conference was opened by University of Melbourne ViceChancellor Professor Glyn Davis.

Speakers included Melbourne Institute Head Professor Deborah Cobb-Clark; Editor-at-Large for The Australian, Paul Kelly; Treasury Secretary and Westpac Chairman Ted Evans; Deputy Prime Minister and Treasurer Wayne Swan; Opposition Leader Tony Abbott.

Recordings and presentations from the conference are available from melbourneinstitute.com/alumni/ Outlook2012.html.

Melbourne Institute Deputy Director John Haisken-DeNew and Malcolm Turnbull MP

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Penny Wong MP speaking at the conference

Gary Banks AO, Former Chairman, Productivity Commission and Professor Deborah Cobb-Clark

Two new Executives-in-Residence in the Centre for Accounting and Industry Partnership (CAIP) The primary goal of the CAIP Executive-in-Residence Program is to involve accomplished senior executives more closely with the Department of Accounting by facilitating the sharing of their own professional experiences in the business community with students and staff.

CAIP Executives-in-Residence bring an energy and perspective which enhances both research and teaching in diverse ways. These partnerships allow students and researchers to work closely with experts in the field to create value in areas of mutual interest. CAIP Executives-in-Residence maintain a uniquely long-term relationship with the Department as honorary Fellows.

This year two new Executives-in-Residence bring their wealth of experience and expertise to the program: alumnus Michael Bray, Partner – Audit at KPMG (BCom Hons) and former Auditor General of Victoria, Des Pearson.

For more information on the CAIP and the Executive-in-Residence Program visit fbe.unimelb.edu.au/accounting/caip

New Department of Business Administration Academic staff associated with Melbourne Business School’s MBA suite of programs are now grouped in the new Department of Business Administration (DBA). The DBA will sit alongside the Faculty’s existing departments (Economics, Accounting, Management and Marketing, Finance and the Melbourne Institute).

Associate Professor J. Douglas Dow has been appointed Head of the DBA. Doug is an experienced academic and researcher, and former consultant, who specialises in the areas of strategy and international business and has been on the faculty of Melbourne Business School since 1997.

In addition to his academic experience, Doug spent many years consulting with the Australian arm of what is now known as the Boston Consulting Group (then known as Pappas Carter Evans and Koop Pty Ltd). During this period he managed numerous business strategy projects for clients including Pacific Dunlop, ANZ, Qantas, General Electric and The Australian Manufacturing Council.

We would like to congratulate the following Faculty alumni who were recognised with Australia Day Honours in 2013: Member of the Order of Australia (AM) The Rt Revd Andrew W Curnow AM – Bachelor of Commerce (1971) For significant service to the Anglican Church of Australia through leadership roles The Hon Robert C Fordham AM – Bachelor of Commerce (1964), BA (1967) For significant service to the Parliament of Victoria, to education, to the Anglican Church in Australia, and to tourism and economic development Medal of the Order of Australia (OAM) Mr John G Adnams OAM – Bachelor of Commerce (1964) For service to business and commerce, and to the community Public Service Medal (PSM)

We would also like to congratulate the following Faculty alumni who were recognised with Queen’s Birthday Honours in 2013: Member of the Order of Australia (AM) Associate Professor Duncan S Ironmonger AM – Bachelor of Commerce (1954), Master of Commerce (1958) For significant service to economics as a researcher, author and academic Medal of the Order of Australia (OAM) Mr Stephen F Coffey OAM – Bachelor of Commerce (1960) For service to the community, particularly children Mr Alan F Lewis OAM – Bachelor of Commerce (1966), Master of Commerce (1974) For service to the community of Malvern Public Service Medal (PSM)

Ms Sheryl R Lewin PSM – Bachelor of Commerce (1977)

Ms Amanda J Cattermole PSM – Bachelor of Commerce (1993), LLB Hons (1993)

For outstanding public service to the Australian Public Service, especially to the welfare and social inclusion aims of government

For outstanding public service in leading reform of the provision of housing for Indigenous people in remote communities and the National Gambling Reform Laws

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Doug teaches Business Strategy in the MBA program. He has served on MBS’s Teaching and Learning Quality Assurance Committee (Talqac) and has been a member of the MBS Ltd Board since 2011.

Honours and awards

student focus

Making a positive difference

the new generation of pro-bono student consultants

By Christine Cheng When it comes to the portrayal of the Millennial Generation, popular media often paints a sensationalised caricature of a group of increasingly selfish, apathetic, technology-obsessed pessimists. In a Melbourne mental health conference in 2001, San Francisco psychology professor Jean Twenge went so far as to announce that an “epidemic of narcissism” has been sweeping across the student population in the past couple of decades.

While some might succumb to these convenient simplistic stereotypes, a closer observation of our students tells us that the new generation is much more proactive, altruistic and socially conscious than we think.

Over the past few years we have witnessed a boom of student led pro-bono organisations in our Faculty. Student-led consulting groups such as the Global Consulting Group (GCG, formerly the Graduate Consulting Group) and 180 Degrees Consulting are perfect examples of how to harness the energy and enthusiasm of capable students to help not-for-profit organisations enhance their social impact and contribution to the community.

In 2007 Nathaniel Ware was volunteering in multiple NFPs whilst studying at university.

He soon became acutely aware of the latent need for NFPs to have access to additional resources and affordable advice in both strategic and operational levels. At the same time, students at universities all over the country were becoming increasingly frustrated with the lack of opportunities for them to apply their business knowledge and skills in a real-world setting. As a result, 180 Degrees Consulting was born.

The organisation, now operating across 14 different countries, has over 1200 student consultants assisting charitable, educational, health and human service NFPs at the grassroots level by providing

tailored solutions to systematic problems.

The University of Melbourne branch was established in 2012 and has attracted more than 40 aspiring student consultants and numerous NFP clients such as Wear for Success, a volunteer-based organisation helping disadvantaged individuals prepare for work by providing free quality clothing and styling advice; and StreetSmart, a fundraising initiative which supports and strengthens smaller, grassroots community organisations that provide critical services and emergency aid as well as promoting social inclusion, empowerment and sustainable change for people who are homeless or at risk.

The Global Consulting Group was founded under similar circumstances by three postgraduate Melbourne University students in 2009. The group recognises the importance of the NFP sector in the Australian economy and society.

“Many organisations in this sector require additional strategic support as all their resources tend to go directly towards the provisions of services. With tight budgets in place, they simply do not have the luxury of hiring external professionals to give them a helping hand. That’s where the GCG comes in – we provide a team of

180 Degrees Consulting, University of Melbourne branch

passionate, socially conscious individuals with a fresh perspective and access to networks, allowing NFPs to rapidly overcome their most pressing issues, all at zero cost,” explains GCG co-founder and director, Fabian Burmeister.

Since conception, the GCG has managed to secure a team of experienced consultants from some of the world’s leading firms, including L.E.K., Deloitte, A.T. Kearney and BCG, to work as mentors for their students. The combination of formal training on techniques in the consulting industry and on-the-job guidance allows students to develop outstanding problem solving, analytical, communications and leadership skills. In turn, these students are creating genuine and positive changes in communities.

The organisation has received a very positive response from industry, doubling in size within the last year, and continues to expand across Australia. It has conducted more than 20 consulting projects relating to the homeless, intellectually disabled and victims of abuse, empowering students to create genuine and positive changes in communities.

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Not content to live up to the “me generation” label, students of the Faculty along with some of our young alumni are determined to tackle society’s biggest issues through social innovations, optimism and good old hard work.

We look forward to watching their contributions in the coming years.

The Global Consulting Group, with co-founder and director, Fabian Burmeister in the centre

Wear for Success While job-related skills and experience often determines one’s success at job interviews, hiring managers form first impressions about a candidate in matter of seconds by judging their appearance. Wear for Success is a not-for-profit organisation in Victoria specialising in providing free, quality work clothing and grooming advice to individuals in difficult financial circumstances who are struggling to find employment.

Bagong Barrio Education Fund (BBEF) BBEF is a not-for-profit sponsorship program that focuses on education as a means of breaking the poverty cycle in Bagong Barrio, the second largest slum village in Manila, the Philippines.

The program supports the educational needs of the children of Bagong Barrio by bringing together Australian (and international) sponsors who fund the education expenses (books, uniforms, transport) of individual students.

Consultants at BBEF believed there were opportunities to expand their reach in the community and provide further assistance to struggling students. In order to gain clearer direction on how they could best deliver on their mission, BBEF sought the help of a team of GCG student consultants.

With a limited marketing budget, Wear for Success engaged a team of student consultants from the University of Melbourne 180 Degrees Consulting group to help develop the branding strategy for what will become their flagship marketing campaign.

Guided by Max Teo, current Harvard University post-graduate student, Melbourne alumnus, and former consultant at Pacific Strategy Partners, the GCG team completed a strategy diagnostic including a macro environmental scan and micro review of operations. This diagnostic served as an input into BBEF’s long-term strategy and provided management with a clear understanding of the organisation’s core competences and opportunities available to them.

The first phase of the project involves an analysis of funding options for the campaign. The 180 DC team developed a comprehensive overview of the potential of crowdfunding donations, analysing the risks of each funding option, and mapped out clear guidelines around how to run a successful fundraising campaign.

“GCG provided our organisation with a solid foundation from which we will develop our five-year strategic plan. The team’s ability to initiate, challenge, and support our thinking was highly valuable and we are most grateful for their assistance,” said James Lee, BBEF Director.

To learn more about the Global Consulting Group, please visit: www.gcg.org.au

The reported centred upon the use of Pozible, a home grown, crowdfunding initiative. What would have started out as a fairly haphazard brainstorm of the plethora of ways a campaign like this could be funded was greatly aided by the utilisation of consulting technologies supplied by the broader 180 DC network. The use of simple tools like Issue Trees, Social Impact matrices and the development of a robust problem definition statement helped the team break down significant complexities, and deliver a heavily researched series of recommendations on a very tight deadline.

As the 180 DC team begins the next leg of their project with Wear for Success, advising on how large the campaign needs to be to ensure financial sustainability under a variety of scenarios, the group is looking forward to delivering another set of positive impacts in the local community.

To learn more about 180 Degrees Consulting, please visit: www.180degreesconsulting.org

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Despite the rigorous workload demanded of them on top of university studies, working on the project has helped enrich the student lives of the 180 DC team.

They have established an extremely close relationship with their client and as Harrison Fenton, Vice-President of 180 DC (University of Melbourne) and current BCom student recounts, “Being able to meet with them [Wear for Success] regularly, and get exposed to the great work that they do, made the many hours of work (and many more hours of university catch up) all worth it.”

global alumni

shanghai

Alumni postcards

The Faculty of Business and Economics has a global community of 57,000 alumni. Here is what some of our graduates are doing now. To update your profile, please send an email to fbe-alumni@unimelb.edu.au

Nick Yan Master of International Business 2004 Senior Business Development Manager Victorian Government Business Office – Shanghai

Since graduating from the Faculty of Business and Economics in 2004, I’ve kept close links with both the University and the city of Melbourne. Joining the Shanghai VGBO team in January 2007, my role is to assist Victorian businesses to export goods, services and technologies to China, promote Victorian industries in China, and to establish and coordinate relationships with Chinese governments and industry bodies.

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I’ve maintained a close network of alumni friends since my student days and have been active in re-energising alumni activity in Shanghai, as well as meeting with prospective students in Shanghai to answer their many questions about coming to Melbourne. Being located in the same building as the University of Melbourne Shanghai office hasn’t been a bad thing either!

Before joining the VGBO, I worked with the China-Britain Business Council (CBBC), UK’s leading trade and investment agency helping British companies do business in China. During this period, I managed a wide range of projects focused on exporting to and investing in China.

I earned a Bachelor degree from Fudan University, Shanghai, in 1993, before completing the Master of International Business program at the University of Melbourne in 2004. I am also currently acting as the Vice President for the Australia and New Zealand Chapter, Shanghai Overseas Returned Scholars Association (SORSA), and am the President of the University of Melbourne Alumni Association Shanghai (UMAAS).

上海 中国 y–~~~01.20

bogota

Diana Reyes Master of Applied Finance 2011

Treasury Services Sales Associate Corporate and Investment Bank, J.P. Morgan – Bogota

After graduating in December 2011, I flew back to Colombia the very next day with a mix of excitement about going back home and nostalgia about leaving Melbourne and the good friends I‘d made there.

When I arrived I had great expectations for my career although it was a time of economic turmoil. A few months later I joined J.P. Morgan’s Representation Office in Colombia as Treasury Services Sales Associate in the Corporate and Investment Bank.

Almost two years after graduation, I keep in touch with a couple of friends from Melbourne and I’m looking forward to going back some day to hopefully reunite with my fellow alumni.

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I’m confident that the skills I gained during my studies in Melbourne through the Master of Applied Finance program were instrumental in obtaining this position and being part of the important expansion plan that the organisation has been developing in Latin America.

During the last year, I’ve been covering other markets apart from Colombia, and have had the opportunity to meet and learn about the Peruvian and Venezuelan banking industry and, more recently, the Caribbean. Being part of an international organisation like J.P. Morgan has widened my knowledge of global banking products and practices and has given me the chance to be part of a multicultural team with high academic and ethical standards.

Alumni profile

alumni profile:

Dan Jackson

By Anthea Barry

At the age of 17 and about to complete year 12, Daniel Jackson was drafted by the Richmond Football club. Over the next ten years – eight of them spent completing a part-time Bachelor of Commerce degree at the University of Melbourne – he worked closely with a number of local youth support initiatives as an advocate and ambassador, culminating in his being awarded the inaugural Jim Stynes Award in Community Leadership at last year’s Brownlows.

Nominated by his club to receive the award, which he describes as “an absolute honour”, Dan is squarely focused on using the publicity it has generated to put the spotlight on a lesser-reported but very active area within AFL around community engagement and leadership.

For his own part, Dan is linked to a number of organisations but is quick to point out that his involvement is by no means a rarity within the AFL community; every club tends to have an affiliated community group or charity that they work with.

“At Richmond we’ve brought a lot of that in-house, for example we have our own Indigenous centre upstairs at Punt Road, which engages communities in the Northern Territory. We have a young leaders’ camp and bring the kids down to Melbourne to do two-week programs.

“It’s been great for players to get more exposure to the wider Australian culture.”

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Dan’s current roles include ambassador for Headspace, Australia’s national youth mental health foundation; board member of Big Brothers Big Sisters, a non-profit organisation providing positive mentorship for young people; board member of Ladder, an independent non-profit founded by a group of AFL players in 2007 to tackle the issue of youth homelessness in Australia; and ambassador and speaker for Step Back Think, a youth anti-violence initiative.

He also sits on the board of the Players Association, which is highly active across a variety of areas, particularly over the last couple of years around diversity and gay rights, last year teaming up with Headspace to support IDAHO Day (International Day Against Homophobia),

at a time with the AFL hadn’t formulated much of a stance on the issue. This has since evolved, with Dan and Carlton’s Brock McLean being the first two AFL players to openly support the Gay Pride march in St Kilda earlier this year.

Pleasantly surprised by the interest that the award has attracted, particularly from people outside the football world, Dan is keen to see a shift in the media and public focus towards the high number of AFL players doing a lot of great things off the field rather than the other end of the spectrum.

“As soon as you put on a footy jumper people take notice, so you can either use it constructively and be involved, or not. I’ve chosen to use it to make sure people are taking notice of the bigger issues.”

He would love to see the award gain momentum and hold a high value within the playing group and then as a consequence, the football world start to pay attention to the many stories that tell of the difference players can make outside the sport.

Ten years ago his perspective might have been quite different. Reflecting on what first sparked his interest in community involvement and particularly his work with young people, Dan credits the tough lessons from his own personal experiences as a starting point.

For most people outside the world of professional sport, there is little recognition of the extraordinary pressures – both mental and physical – placed on

image © Lachlan Cunningham, AFL media

elite athletes. (Multiply that scrutiny by ten in Melbourne, a city with that many professional AFL teams.)

As a teenager, balancing the pressures of being a professional footballer with the responsibilities of finishing high school was a tremendously difficult exercise, leading Dan to seek the support of a counsellor and through the process learn a valuable life lesson about the importance of speaking out and cultivating a strong support network.

As invitations to speak at schools and community groups flooded in, he discovered a genuine enjoyment in sharing his own story with others. His dual messages around the importance of a strong support network and having balance to lend a sense of perspective in stressful times are equally pertinent to young people in general and young footballers in particular, many of whom over the years have turned to Dan as a mentor – a role that comes naturally.

You don’t need to spend a lot of time with Dan to see his genuine passion for engaging with people. Nurturing relationships tops his list of important leadership qualities. Over the last ten years with Richmond he’s trained under four coaches, three presidents, two CEOs, four captains and with about 150 teammates, so has seen his fair share of leadership styles.

“You can be passionate and outspoken, but if you don’t understand the people you’re working with, you really can’t get the best out of them.

“If you cultivate a good relationship with people and they respect you and want to work with you or play for you

in whatever industry you’re in, that makes the difference.”

Current Richmond coach Damian Hardwick has instilled in his team the second leadership quality Dan regards as equally important: doing the little things right. Following the Broken Windows approach, demonstrated by leaders like Rudy Guiliani during his first term as mayor of New York, starting by focusing on small issues has a snowball effect.

At the club this translated into actions like always being punctual for meetings and cleaning up the gym after training.

“Most kids are familiar with the concept of having a role model. I talk to them about working on doing the little things right so that they can be that role model.”

In his own life, although Dan concedes that undertaking a commerce degree alongside a full-time footy career was no mean feat, it also provided a very welcome reprieve from the intensity of his sporting pursuits and the balance he’d discovered was vital for him to succeed in his chosen career.

Interspersed with the good memories of hours spent working in the library, interacting with people from different backgrounds and getting involved in uni culture, however, is a sense of having missed out on the full university experience that fellow students were able to take advantage of.

There were also struggles early on trying to maintain energy levels and a commitment to study, as well as confronting a lack of awareness among academic staff of the physical and mental demands of professional sport and the consequent effect this can have on studies.

Dan is hugely supportive of the Elite Athlete Support Program, implemented by the university to enable special study arrangements to be made for students who are elite athletes and performers, which came about half-way through his degree.

“It’s a real asset to the uni. The training schedule is very rigid and having people like Rod Warnecke at Melbourne Uni Sport was fantastic; I was very grateful to the uni for having that in place.”

Looking to the future, further masters-level study in International Affairs is on the cards – but, he insists, only at a time when he image © Michael Willson, AFL media

Dan describes the reaction and recognition that has come from the community leadership award as being a real door opener in the media, business and political worlds, and is now focused on harnessing that to help the organisations involved and at the same time to plan a career after footy.

“Most kids are familiar with the concept of having a role model. I talk to them about working on doing the little things right so that they can be that role model.”

Not yet having had the chance to put his commerce degree to use, when the time does come to retire from football, he regards his considerable experience in the not-for-profit sector as great exposure to the real world.

“I’ve been fortunate enough to be exposed to and able to work with all these great organisations and great people; when I finish I’ll look back very fondly on my on-field career, but I think I’ll look back most fondly on the exposure I’ve been able to have outside that footy world because I played.”

Like Dan, we look forward to seeing the future impact of the Jim Stynes Award, what may well become one of AFL’s most important legacies.

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The shift in technology is also an area he believes will play a significant role in making a university education more accessible to the next generation of professional sports people. He recalls “living on Lectopia” and, in the short snatches of free time during the off-season when a break was needed, listening to lectures on a beach in Vietnam or writing up assignments in an internet café in Europe.

can be a full-time student and enjoy all the experiences he couldn’t take advantage of the first time around. Describing himself as “definitely not a numbers guy,” an ethics subject taught by Faculty academic Dr Ben Neville was a favourite during his BCom and something he’d like to pursue further.

Alumni profile

unplugged

Social Entrepreneurship Australia’s time to seize the social entrepreneurship wave sweeping the globe is now. That is the verdict of alumnus Simon Griffiths, one of Australia’s most successful entrepreneurs in this inspiring field.

By Anthea Barry Five years ago Griffiths and uni friend Zanna McCormish dreamt up the idea behind the newly-opened Shebeen Café and Bar in Melbourne, a restaurant and bar which donates 100% of profits to the developing world. It was the springboard to launch his latest venture, Who Gives A Crap, a social enterprise which donates 50% of profits through the sales of toilet paper to WaterAid to build toilets and improve sanitation in the developing world. Alumni Matters took a sip of Shebeen-a Colada and sat down with Simon to get his insights on why this business model is proving popular with entrepreneurs and consumers alike.

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Shebeen Café and Bar has only been open a couple of months but is already attracting attention. While we’re sipping our coffees a photographer is snapping away, using the venue on Manchester Lane as a feature in a new City of Melbourne ad campaign.

Raising enough capital to open the café took a couple of years and a less than conventional approach. Simon and his business partner, Vernon Chalker, sought social investors to put up capital on the basis that no returns would ever come back to them, which is a slightly different ask from most business models.

Through product partners – including Schweppes and hospitality equipment funding company Silverchef – and nontraditional philanthropists, the idea took shape. The media started telling the story, more investors started coming on board, and $250k in capital was raised.

Shebeen was born.

Social entrepreneurship is a totally new kind of business model. The idea is that by parading something that people will feel good about, it attracts a different audience and caters to a more conscious consumer.

“We wanted to create something that could prove itself based on the quality of its product rather than the people who’d supported it initially based on the concept,” says Simon on their approach.

“Social entrepreneurship is a totally new kind of business model. The idea is that by parading something that people will feel good about, it attracts a different audience and caters to a more conscious consumer.”

When Shebeen shifted from being just a dream into a reality, Simon started thinking about some of the downsides and what could be improved to make the concept even better. In true entrepreneurial style, the idea for the next venture was hatched.

Unlimited by the constraints of a bricks and mortar venue, the new enterprise needed to be something much more geographically scalable.

“For us it felt important to be able to create something that someone in say, Broome, could interact with, rather than only someone who was in Melbourne and only someone who drank beer or wine.”

That something needed to be a massmarket product – and what better than toilet paper?

The concept is simple. Two and a half billion people across the world don’t have access to a toilet. Half of the profits from WGAC sales go to an organisation called WaterAid, which

The idea was launched last year, with Simon agreeing to sit on a toilet with a live feed until $50,000 of product was pre-sold through crowdfunding.

According to the Oxford dictionary, crowdfunding is “the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet”.

“Funding came in from all over the place and we had supporters through about 15 countries all up.

“We were incredibly popular in Brazil.

We’re still not 100% sure why but we were embedded onto the front page of the O Globo website, the Largest Latin American newspaper in the world. I think it was something to do with bums and Brazilians that kind of made it work!”

Viral outreach and the influence of social media contributed to the success of WGAC. “As soon as we landed the product and started filling our pre-orders from the crowdfunding campaign, people started posting pictures of our product on instagram and facebook and twitter, and our sales just started skyrocketing.

“We sold out of the two months of product that we bought in the first five days – which was a shock to everyone. Our shipping company was freaking out because they’d never seen anyone drop a container load of stock that quickly and then empty it, and toilet paper is the least likely product that you’d ever do that with.

“We’re starting to understand that the way we market the products will really be determined by how consumers are responding and interacting with it, which is probably quite different from how most companies do it.

“Although we hoped that something like that would happen, it was definitely very unexpected.”

When Simon and Vernon went to market with the Shebeen concept, it was in the middle of the Global Financial Crisis and a new way of thinking was starting to develop.

“People started to realise that the security of capitalism didn’t really exist in the way they thought it had and this new way of thinking developed somewhat in response to that. It was probably one of the catalysts in giving the social entrepreneurship space a push.

“Also, as a consumer body we’re becoming much more conscious, we’re starting to look at what ingredients are going into the products that we’re buying.

We’re wondering where it’s made, and if it does something greater than just giving a level of happiness. The way that happiness is measured is changing as a result.”

It’s something that’s catching on. Even multinationals are seeing a new model that is more socially conscious as a way to drive future profitability and something that there is a need to adopt.

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“It was a quarter-second epiphany of walking into the bathroom and seeing a 6-pack of toilet paper and going, ‘Oh my God, that’s it, it’s toilet paper!’ We decided to call it Who Gives A Crap.”

builds toilets and improves sanitation in the developing world.

Alumni profile

It was about taking the problem-solving capability from engineering and my experience using consumer incentives to change the way that consumers think.

A great example is Starbucks’ acquisition of Ethos Water, which is now sold exclusively in every Starbucks in the US and Canada, and donates 5c from every bottle to water, sanitation and hygiene education.

well as purpose or social impact.

And that’s when the industry will start to do really well and will attract people into it who weren’t previously interested.

So it’s really exciting and only going to grow.”

“The way that we consume has shifted rapidly over the last 10 years and perhaps concepts like Shebeen and WGAC wouldn’t have been successful 10 years ago. As a result of a shift in consumer values, it’s something that is really resonating now.”

Talking about his own career path, Simon says that he has always been entrepreneurial and jokes that he was the kid who sold other kids stuff at high school.

The industry is not without challenges.

Similar to any kind of start-up environment, because Australia is a small country there is not the kind of capital available in order to grow at the same pace as what you’d see in the States or the UK. “I always thought that was because our social enterprise industry wasn’t as developed and as a result there was less understanding of what the investment opportunities are like.

“Now I don’t think that’s necessarily right.

The investment opportunities are there, it’s just that you need to be running a company that’s going to be profitable and taking a big chunk of market or having a huge margin to make it work because we’re a small country and hitting scale is fifteen times less effective than hitting scale in the US.” Simon describes the response to social enterprise from consumers as exceptional.

“I think we’re going to start to see more business opportunities like WGAC where there’s a blend of personal profitability as

Far from being a drop-out who couldn’t hack a corporate career – a stereotype which has changed even in the past few years – on paper Simon was a model student, getting straight H1s through his commerce and engineering degrees.

His formula of doing “amazing fun stuff” during semester and then studying really hard for four weeks paid off and he was head hunted into corporate roles or, as he describes it, “funneled into a corporate career”.

He worked briefly as an engineer and an investment banker until the offer came for his dream job, something he’d worked hard to achieve. By this time the realisation had dawned that engineering or investment banking were never going to provide personal and professional satisfaction, but the skills gained in both environments could be put to good use doing something that he was more passionate about.

“It was about taking the problem-solving capability from engineering and my experience in using consumer incentives to change the way that consumers think and starting to put that into play.

“Those skills are completely invaluable; what was tricky was that there wasn’t a pathway to entrepreneurship that was well-trodden and even accepted as being something that could be very respectable.

It was something that was frowned upon.

“Entrepreneurship has been around for years but if you were a kid from university who at the end of your degree decided to start your own company, that was considered to be what the dropkicks did and, as a result, funneled people into areas which they didn’t enjoy that much.”

Simon believes more encouragement is needed for students to get involved in entrepreneurship while they’re at university, such as the Melbourne Accelerator Program, a start-up accelerator that assists students, staff and alumni give their venture the best possible chance of success through funding, office space and mentoring.

“I think now things have changed.

Entrepreneur is no longer a dirty word.”

Shebeen Café and Bar is open for business at 36 Manchester Lane www.shebeen.com.au Who Gives A Crap: au.whogivesacrap.org

Melbourne Accelerator Program The Melbourne Accelerator Program (MAP) is an exciting initiative of the Melbourne School of Engineering and the Faculty of Business and Economics at the University of Melbourne. MAP is a start-up accelerator that assists students, staff and alumni give their venture the best possible chance of success.

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The University joins only a handful of leading institutions globally providing an entrepreneurial program to its community. Our vision is to raise the culture of entrepreneurship on campus and contribute to the Melbourne start-up ecosystem. By leveraging our alumni networks and brand name we are well placed to support fledgling entrepreneurs give their venture the best chance of success.

MAP provides $20,000 in funding, office space and mentoring for selected teams to accelerate and guide their start-ups.

The culmination of the program is “Demo Day” where the start-ups pitch to a room full of potential investors.

If you would like to find out more about MAP we encourage you to contact MAP Manager, Rohan Workman, on rworkman@unimelb.edu.au or visit http://map.eng.unimelb.edu.au/ for more information.

vale: jean kerr

Pioneering female accounting academic

JEAN ST GEORGE KERR 31 December 1922–13 MARch 2013

By Geoff Burrows Jean Kerr, who has died in Melbourne at the age of 90, had an international reputation as an accounting scholar and was the first female to hold a full-time lecturing position in accounting at an Australian university.

Born in Camberwell, the fourth of six children of Robert Gordon Kerr, a commercial traveller, and Grace Margaret (nee Tuohy), her middle name, St George, was inherited from her maternal grandmother. An early hint of her independent spirit occurred when the family doctor called to remove the Kerr children’s tonsils, using the dining room table for the procedure. Jean was far too fleet of foot to be caught and brought to the table.

Educated by the Brigidene sisters at Lyndale College, Hawthorn (now closed), she completed Leaving Honours in 1938, just before her sixteenth birthday, topping the state in Commercial Practice and finishing second in Commercial Principles.

Enrolling in the University of Melbourne’s BCom degree on a free place in 1939, she was still only 16 when she placed second from 221 entrants in Accountancy I in that year, one spot ahead of Donald Cochrane, a future Dean of Economics at Monash University. At the University Kerr played competition tennis and netball, becoming secretary of the netball club.

In 1942 with only two subjects of her then 14-subject degree to complete, she started work at £5 per week as an accountant at the Tottenham pump works of McPhersons Ltd, where she spent almost five years preparing payroll and job-cost records, often for products related to the war effort. A male contemporary who was “manpower planned” to an accounting job at the same time enjoyed a starting salary of £7 per week.

With her lectureship upgraded to permanent status, she took sabbatical leave from August 1954 to undertake the MSc by coursework at New York’s Columbia University. With trans-Pacific passenger shipping virtually non-existent, the journey took six weeks by sea via London. On returning to Australia – travelling now by airliner – she showed one of her Columbia course papers to Melbourne’s professor of accounting, Sir Alec Fitzgerald, who also edited the Australian Accountant. As she recalled, “he grabbed it”.

Her “three concepts of business income”, published in the April 1956 Australian Accountant, provided a masterly analysis of the income-capital nexus under three different measurement systems – historical cost, current purchasing power, and current operating capacity. It would become one of the most widely cited and reproduced articles of its time, generating a major international reputation for its self-effacing author.

was then the most senior female academic accountant in Australia and had she been more ambitious, would undoubtedly have become Australia’s first female professor in the discipline. Contrary to the “glass ceiling” stereotype, she readily acknowledged that her career progress owed much to the encouragement of her senior male colleagues, Sir Alec Fitzgerald and Louis Goldberg.

A research career that began brilliantly but which could be construed as having petered out at the University was revived in her retirement through the influence of one of her ex-students, Kevin Stevenson (now chair of the Australian Accounting Standards Board). In 1970, Stevenson had topped the accounting-theory course taught by Kerr and been impressed by her intellectual depth. As Director of the Australian Accounting Research Foundation (AARF) in the 1980s when the body was seeking an author for a monograph on liabilities to extend its conceptual framework, Stevenson, in what he labelled an “inspired choice”, approached his former teacher who obliged. The resulting monograph, The Definition and Recognition of Liabilities was later translated into Japanese and served as the basis for the prestigious

It would become one of the most widely cited and reproduced articles of its time, generating a major international reputation for its self-effacing author.

With Fitzgerald’s support, she was promoted to senior lecturer the following year. This was before the “publish or perish” ethos in accounting academia and she published only sporadically during the remainder of her academic career which she devoted largely to teaching – to the benefit of some thousands of current Melbourne alumni. Her lack of ambition is reflected in her promotion to Reader in 1968. Louis Goldberg, who had replaced Fitzgerald as Professor of Accounting, became frustrated when Kerr declined to apply for further promotion. In an era of relatively informal personnel processes, he successfully applied on her behalf.

When she retired from the University of Melbourne on her sixtieth birthday, Kerr

CPA Australia/University of Melbourne Annual Research Lecture, which Kerr delivered in 1985. A companion monograph for AARF, The Concept of Equity in Financial Reporting, followed in 1988.

An elegant and gracious lady who never married, Kerr lived for many years in Kew, as well as keeping a holiday haven at Sorrento where family, friends and former colleagues were frequent welcome visitors.

She later moved to Berwick until falls, hip replacements and a series of strokes necessitated high-level care for the last three years of her life at Cabrini, Ashwood.

Associate-Professor Geoff Burrows is a former colleague of Jean Kerr’s. He was assisted by Jean’s brother, David Kerr.

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The post-war influx of ex-serviceman to the University under the Commonwealth Reconstruction Training Scheme created an urgent need for more staff. At a graduate dinner in late 1946, Kerr was approached by the Dean of Commerce, Professor Gordon Wood, who astonished her by enquiring whether she “would like to come back and lecture for them”.

The upshot was a position as Temporary (Post-War) Lecturer in Accountancy, for a period of three years dating from 1 December 1946, at an annual salary of £450, not subject to cost-of-living adjustments, making Kerr, after Louis Goldberg, Australia’s second full-time

university accounting-academic and the first such female appointee. “Everybody I had contact with went out of their way to help me” is how she remembered her introduction to lecturing.

career mentoring

Bridging the Gap

student mentees return as mentors Mentoring is an ongoing relationship of exploration, dialogue and challenge, which brings significant value and growth to both parties involved, the mentor and the mentee.

The Faculty’s very successful Career Mentoring Program has been in place for 10 years now and every year more and more alumni join in to be carefully matched with a student who passed the selection process for becoming a mentee.

During a year-long mentoring journey, both mentors and mentees try out –

in different situations – their cultural, social and emotional intelligence, pay attention to and learn about someone else, and equally importantly, learn a lot about themselves.

It’s a “give and take” where new career ideas can be bounced off each other, assumptions can be voiced, discussed and challenged in an environment of trust and confidence through which

both mentor and mentee add to their skills and build social capital.

We recently spoke to three very special alumni mentors, all of whom started as student mentees themselves and who have now returned to the program as mentors.

Marlena Mende BCom 2004 MAppCom(Mktg) 2007, second year as a career mentor Tell us a bit about your current role

I am the Marketing and Recruitment Team Leader in the Faculty of Science (at the University of Melbourne), responsible for recruiting graduate coursework and research students to the Graduate School of Science, promoting the Graduate School, raising awareness of its academics and their research as well as engaging with young alumni overseas.

How did your experience as a student mentee influence your decision to become a mentor?

I was already very familiar with the overall framework and the merit of

the program. I had a very positive and enriching mentee experience and was hoping to give a similar experience to someone else and to make a positive difference in someone’s life.

Having been an international student myself, I can relate to the situation of international students having to juggle living in a new country, making friends, as well as balancing work and study arrangements. Having a mentor who can act as a more objective sounding board than perhaps friends and parents and who has local industry experience, is particularly beneficial for those who do not have an established network yet.

Key skill that you’ve learnt from a past or current mentor?

I think the best advice I have received is to communicate with people around you much more face-to-face or on the phone than via email. It seems obvious but in the workplace people tend to over email even when sitting right next to each other. In direct communication you establish a much closer connection and misunderstandings are less likely to occur.

What is the most valuable aspect of being a mentor?

Making a positive difference in someone’s life has been the most valuable aspect for me. It is great to be able to help someone, see them progress in their decision-making process throughout the year and then hopefully see a positive end result.

Marlena Menda (centre)

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Khin Zaw BEng Hons 2001 MAppCom (Acc) 2008, third year as a career mentor Tell us a bit about your current role

I’m an internal auditor at ANZ, which involves examining and assessing the internal control environment across a range of different business units. The internal audit department in most organisations is one layer in a tiered structure for managing risks faced by the organisation.

What were the most valuable aspects of having a mentor?

Learning about how to set and meet career objectives. Getting first-hand knowledge about the professional environment I was interested in entering.

Key skill that you’ve learnt from a past or current mentor?

In broad terms, one of the key lessons I learned from a past mentor has been the emphasis put on preparation and planning before undertaking a particular task or initiative. As the saying goes, if you fail to plan then in essence you are planning

Khin Zaw (centre)

to fail. This mentality has evolved over time such that I have had to learn flexibility as well – given some of the best laid plans can also suffer when unexpected things happen.

Key skill you’d like to pass on to your mentee?

In meetings and discussions, the ability to listen actively and only say something which is meaningful or adds value to the discussion is, in my mind, the most useful skill to put into practice.

What’s your top tip for new graduates?

Learn the ability to be highly self-aware in the context of those around you, so that you can differentiate yourself from peers and colleagues. However, this must be balanced by retaining some humility and a commitment to teamwork/collaboration because at the end of the day, it is the exception and not the norm to be able to achieve significant things all on your own.

Cassandra Trumble BVetSc Hons 1998 MHRMgt 2010, first year as a career mentor What were the most valuable aspects of having a mentor?

Cassandra Trumble

Tell us a bit about your current role

HR Account Manager at Shell. I wanted to combine my science and technology experience with my degree in Management (Human Resources).

It’s a great time to be part of the Energy Industry, with growth, innovation and partnerships being key to success.

Why did you participate in the mentoring program as a mentee?

Did your experience as a mentee influence your decision to become a mentor?

Definitely. Part of my current role is to develop early career talent at Shell and I am really interested in new approaches and thought leadership that the next generation will bring to the workforce.

Key skill that you’ve learnt from a past or current mentor?

Always be curious and don’t be afraid to ask people what they do and how they go about contributing to the

What’s your top tip for new graduates?

Ask for feedback, let people know what you offer even at the early stages of your career and stay curious for life.

Challenge yourself and others to ask, “What could be done and why?” Don’t worry so much as everything will work out, sometimes in ways you never expected.

The Career Mentoring Program is run by the Faculty’s Careers Centre. Alumni based in Australia and overseas are invited to participate in the program as career mentors. Applications for next year’s program will open in February 2014. To register your interest or obtain further details, please contact the Business & Economics Careers Centre or visit mbs.unimelb.edu.au/careers/ mentoring.

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I recognised the need to start transitioning out of study mode (which I loved) and back into work mode in a new professional field. I had only a small HR network at the time, so this was a great opportunity presented by the Careers Centre.

The two-way sharing of our diverse work experiences. Now three years down the track at Shell Australia, I still apply the learnings gained from my mentor. We were also at similar life stages, both having young children and balancing work and family life. We both gained a great deal from sharing our challenges and discussing how diversity and flexible work practices are so important for organisations to focus on now and continuing into the future.

organisation. People love to share their expertise and experiences, and these are the people who can help you learn more about the industry you work in.

our vision

From a smuggler’s boat to a scholarship

Emad Zarghami

Scholarships not only enable and widen access and encourage excellence, they generate pride and reputation for scholars, their families and the Faculty. The First in the Family Scholarships were established by the Faculty of Business and Economics in 2011 to provide financial support to students who are the first in their families to attend university. Generous donations from alumni and friends have enabled 18 students to be awarded a First in the Family Scholarship. Eoin Hahessy tells the amazing story of one of our student recipients.

At the age of six Emad Zarghami, his two-year-old brother and parents made two attempts to get to Australia from Indonesia on a people-smuggler’s boat.

They were journeys he vividly remembers.

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“The first attempt at night was in torrential rain. A small dugout canoe with a little motor out the back and ten people squeezed inside it searched in complete darkness for the smuggler’s boat that would take us to Australia. We searched and searched but eventually ran out of petrol. Every single wave made it feel like the boat would tip over. My two-year-old brother was on my mother’s lap as the boat drifted and then water started to come in as people started screaming.”

Somehow eventually their canoe drifted back to the Indonesian shore at which point the smugglers jumped out of the boat and ran off.

“We were so exhausted we just collapsed on the sand with no energy to get up.”

Arrested by Indonesian authorities Emad and his family would spend three months in a detention centre.

“Conditions were horrendous as was the food. All we got initially was noodles.

When we complained we got a small portion of rice and chicken for breakfast, lunch and dinner.”

Determined to escape these conditions and to get to Australia, Emad’s family would make a second harrowing attempt

demanded more money from us.

Then a Vietnamese couple realised the smugglers were taking us in the wrong direction and after an argument the couple took over the navigation of the boat and brought us in the direction of Australia.”

At Ashmore Reef the Australian Navy would intercept the smuggler’s boat and Emad and his family were taken to the Woomera Detention Centre in South

The most stressful time in this period is the psychological stress. You are unaware of your future.

You have risked your life and now you are in limbo. on a smuggler’s boat. Again at night 60 people set off in a small smuggler’s fishing boat. After a day at sea there was a dispute over the direction that the smugglers were taking.

“Twice on the boat the smugglers

Australia. They would spend six months in this centre and it left an indelible mark on Emad’s psyche.

“The most stressful time in this period is the psychological stress. You are unaware of your future. You have risked your life

Yes! I want to support: and now you are in limbo. While we were there several suicide attempts occurred as people jumped off roofs and sewed their lips together.”

After securing refugee status Emad and his family were allocated to move to Canberra.

Emad was six years of age, had missed a year of school and now was in a new country that spoke a language that was alien to him. Yet the challenges for Emad and his family would increase. In the 2003 bushfires that swept Canberra, Emad’s mother suffered severe smoke inhalation and his family were lucky to survive.

With his father in constant search for work Emad had to continuously move schools and cities. In 2004 he and his family moved to Melbourne. It was here that a sense of normality returned, allowing Emad to obtain the grades to receive a First in the Family scholarship to study the Bachelor of Commerce.

The First in the Family Scholarships, which provide financial support for the three years of the degree, are awarded to BCom students who will be the first in their family to attend university and who have experienced disadvantage.

For Emad the scholarship has given a lot more than financial support.

“The scholarship not only relieves the financial stresses but also provides you with a little peace of mind that somebody out there believes in you. It gives you that motivation to hold yourself accountable and to not only make your family proud but to not let those down who gave you this opportunity, and to strive to be better.”

Half-way through his first year studying the BCom at the University this inspiring 18-year-old sees the value of his education to date not just in what he is learning, but in the experience he is having.

“I feel like I am learning things that are not just applicable in the world of business but are applicable in my daily life. That is the real value of my degree so far.”

Dean’s Fund First in the Family Scholarships Access Scholarships The Campaign for the University of Melbourne Here is my single gift of: $1,000

$500

$250

$100

Other $

chancellor’s circle

OR Please establish a regular gift: monthly $100

annually recurring gift (Visa or Mastercard only): $85

$50

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Other $

chancellor’s circle

Please charge my credit card:

Visa

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CCV:

Name as appears on card:

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Please do not publicly acknowledge this gift You can also donate online at www.unimelb.edu.au/alumni/giving I am interested, please contact me about: Leaving a bequest and creating a lasting legacy Reconnecting and engaging through alumni activity Further opportunities to support excellence, opportunity and innovation Your contact details Name: Address:

This article originally appeared in Voice, Vol. 9 No. 6.

Telephone: The Campaign for the University of Melbourne has recently been launched with the aim of raising $500 million to change the lives of future generations. If you would like to read more about the Campaign and its priorities please visit campaign.unimelb.edu.au.

Thank you for your support!

The University of Melbourne Advancement Office

Tel +61 3 9035 4054 Fax +61 3 9348 0013 Email gift-processing@unimelb.edu.au web www.unimelb.edu.au/alumni/giving Donations of $2 or more to University of Melbourne initiatives in Australia are tax-deductible for Australian tax payers. ABN: 84 002 705 224 The information on this form is being collected by the Advancement Office at the University of Melbourne. You can contact us on +61 3 8344 1751. The information is being collected for the purpose of processing your gift and updating your contact details on the University’s relationship management database. You can access any personal information the University holds about you. The information will be used by authorised staff for the purpose for which it was collected and will be protected against unauthorised access and use. The University has a detailed Privacy Policy and you can contact the Privacy Officer (privacy-officer@unimelb.edu.au) with any question about how the University deals with personal information. See: www.unimelb.edu.au/unisec/privacy/

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To discuss supporting a First in the Family Scholarship or another giving opportunity, please contact Stephen May, Director – Advancement, on may.s@unimelb.edu.au or +61 3 9035 3547.

Email:

1306E

our donors

Donor Roll of Honour The support of our donors enables the Faculty of Business and Economics to deliver the highest standard of education excellence – thanks to an extensive scholarship program, state-of-the-art teaching and learning facilities, and world-class academics. We would like to thank the following people – and also those who wish to remain anonymous – for their donations and support during 2012/2013 and commitment to the future development of the Faculty:

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Professor Margaret A. Abernethy Mr Alex Abernethy Mrs Fiona C. Adler & Mr Ross Adler AC Mrs Jacinta Agostinelli & Mr John Agostinelli Mr Adrian G. Aldous Ms Elizabeth A. Alexander AM Mr Edgar B. Alley Mr Charles M. Amalfi Mr Thindika R. Amarasekara Professor Ray H. Anderson Ms Jannifer Andrews & Mr Duncan G. Andrews Mr Shin Khoon Ang Ms Clare E. Armstrong Mrs Emily W. Au Ms Aurora Aylward Ms Kathryn M. Azcue Ms Marnie A. Baker Mr Michael Baldwin Mr Steven Banks Mr Angus J. R. Barker Mrs Susan Barker Mr Ross E. Barker Ms Stephanie L. Barr Ms Anthea S. Barry Mr Paul M. Bassat Mr Andrew Batsakis Mr Craig Bell Professor Simon J. Bell Mr Christian D. Bennett Mr Paul L. Berger YB Dato’ Sri Mustapa Bin Mohamed Mr Patrick G. Boland Mr Trevor N. Bradley Mr Phillip Bradley Mr Bruce Bray Mr Andrew Breckler Mr Brendan Britten Mr C. H. Roger Brookes Ms Fiona J. Brown Mr Kester C. Brown The Hon. John M. Brumby Emeritus Professor Maureen Brunt AO

Mr Nicholas R. Bull Mr Anthony R. Burgess Mr David S. Burnet Mr Frank L. Burns Mrs J. M. Campain Mr A. Leslie Campain Mr Terrence A. Campbell AO Mrs Christine J. Campbell Ms Clare V. Cannon Mrs Rose-Mary J. Cassin Mr Siew Wong Chan Mr John R. Chanter Mrs Betty V. W. Chen Mr Jason A. M. Cheng Mr Mark Z. Chiba Ms Lisa Herrell Chiba Ms Ai-Ling Chin Mr Raymond P. Choo Mr Lai K. Chuah Mr Terry Clarke Mr Ivan N. Clyne Professor Deborah Cobb-Clark Mrs Christine A. Collingwood & Mr John S. Collingwood The Hon Peter Collins AM QC Mr Jonathan R. Cosgrove Mrs Julie Ann Cox & Mr Laurie Cox AO Mr Keith Crawford Ms Patricia A. Cross Mrs Amy V. Crutchfield & Mr Philip D. Crutchfield SC Dr Jason G. Cullen Ms Clare L. Cummins Ms Sue Cunningham & Mr Howard Moore Mr William Cushing Ms Carolyn V. Deller Mr Anthony J. Di Pietro Ms Vivien Dickson & Professor David C. Dickson Mr Chris Dobb Mrs Alice Y. Dobes & Dr Leo Dobes

Mr Gregory J. Doyle Mr Craig M. Drummond Mr Alan T. Dunn Ms Paula J. Dwyer Ms Judy Ee Mr Bryce G. Ferguson Mr Ricardo M. Ferreira Mr Patrick F. Fitzpatrick Ms Kaye M. Fletcher Mr Thomas S. Fong Mr Eric R. Forrest Mr Timothy M. Freer Ms Yun-Man Fu Mrs Pauline Gandel Mr John A. Gandel AO Professor Ross G. Garnaut AO Mr James A. Gatehouse Ms Gloria E. Goh & Mr Sunny C.H. Lee Mr Lige Gong Mr Timothy A. Gough Mrs Isabella F. Green OAM & Mr Richard R. Green Mr Timothy D. Greene Mr Jeffery Greenberg Mr Ken M. Grenda AM Mr Ronald J. Griffin Mrs Alexandra J. Grimwade & Mr Fred S. Grimwade Mr Peter J. Gunn AM Mrs Rae Gunn Mr Eric R. Gwyther Mr Barry J. Hamilton Mrs Jennifer J. Hamilton Mrs Barbara J. Hammon & Mr Timothy E. Hammon Tan Sri Wan Azmi W. Hamzah Mr Charles Happell Professor Emeritus Geoffrey Harcourt AO Mrs Joan M. Harcourt Mr James B. Hatherley Ms Penelope B. Heard Mrs Judith H. Hindle & Mr Geoffrey R. Hindle Mr Stephen G. Hiscock Mr Ian Hopkins

Mr David Howell Mr Bryan B. Hoy Mrs Rosemary Hume Mr David Humfrey Miss Kim H. Hwang Mr Dean R. Ireland Mrs Golda Isaac & Professor Emeritus The Hon Joseph E. Isaac AO Mrs Christina M. Jenkins Dr Sandra L. Jericevic Mr Damien Johnston Mr Trevor W. Jones Dr Pavithra Kailasapathy Mr Peter L. Keet Mr Michael G. Kirk OAM Ms Youngmi Kwon Mr Edmond K. Lee Ms Trish Lentini Mr Chris Leptos AM Mr Jonathan K. H. Leung Mr Rodd A. Levy Ms Jun Li Miss Bonnie K. Li Mrs Phillipa Liebelt & Mr Graeme R. Liebelt His Honour John R. Lloyd PSM Mrs Leanne Loh Mrs Sheila M. Loudon Mr Gilbert W. Loughman Mr Ian H. Loxton Mr Mark D. Lucas Professor Bryan Lukas Mr Ben Macdonald Ms Ali MacLeod Mr Roderick J. D. Mainland Mrs Maria Makris Mr Christopher Makris Ms Natasha Mandie Mr Stephen J. Mason OAM Mr Ken Mawson OAM Mr Stephen May Mrs Maureen T. McAllister Mr Donald O. McAllister Mrs Meg E. McConaghy Mr Deryl R. McConaghy Mr William D. McFadyen

Mrs Marie T. McIlwain Mr Angus McKay Mr Alan J. McKay Ms Frances McKay Ms Rosemary McKenzie Ms Michelle E. McLean Mr Terence V. McMahon Mr John M. McMahon Mr Andrew S. McNeil Mr Peter Meurer Mr Gene Michener Mr John Micklewright Mr Anthony J. Miller Mr Gordon J. Milne Mr Kenneth J. Moncrieff Ms Sarah F. Morgan & Mr Ashley P. Williams Mrs Elizabeth Morgan Mr Richard M. Morgan AM Mr Hugh M. Morgan AC Mr Peter E. Morriss OAM Dr Rosemary A. Mulraney & Colonel Paul Mulraney CSC Mr Leo J. Murphy Mr Bruce L. Murray Mr Baillieu Myer AC Ms Annabel R. Myer & Mr Rupert Myer AM Mrs Sarah J. Myer Mrs Gayle D. Nadalin Ms Nicky N. Neighbour The Newlan Family Mr Victor Ngo Ms Phuong C. Nguyen Mr Gregory J. Nielsen Mr Denove No Mr Philip M. Norman Dr William E. Norton Mr James H. Nott Mr Brendan O’Brien Mr Thean C. Ooi Mr Tom Orange Mrs Marion O. Page Mr Edwin J. Parker Dr Lyndal J. Peake & Mr Tony Peake Mrs Ruth Perkins Professor Emeritus James O. Perkins

excellence opportunity innovation Mr Paul L. Wheelton OAM Dr Dinuka T. Wijetunga Mrs Elizabeth Williams Professor Philip Williams Dr Lynne S. Williams & Professor Ross A. Williams AM Mr David A. Williamson Mr Wong Tat Chuen Mr Kingston Wong Mr Alan Wong Mr Yu T. Wong Professor Emeritus Ken Wright Dr Gang Wu Miss Henrietta Yap Dr Peter W. Yates AM Miss Sigourney R. Young Ms Brooke M. Young & Associate Professor Charles G. Young Mr Cheng Yuen Cheng Mr Nick Zisis We would like to thank and acknowledge the support of the following Trusts and Foundations: A.G. Whitlam Trust A.C. Morley (Trust) The Aranday Foundation Australian Chamber of Manufactures Australian Industrial Relations Commission (Trust) Bennelong Foundation The Bertalli Family Foundation Charles Sindrey (Trust) David Finch Lectureship Fund Dawn Wade Foundation Desmond J. Cleary Trust Douglas Family Scholarship 2012 Drummond Foundation Pty Ltd Eric J. Ingram Bequest Foenander Industry Relations Fund Francis J Wright (Trust)

Helen Mckay Memorial (Trust) The Ian Potter Foundation Ian Purves MacNeil Memorial (Trust) J.F. Major Memorial (Trust) J.R. Kinsman Fund Jean Polglaze Memorial (Trust) Katharine Woodruff Memorial (trust) Lou Goldberg (Trust) The Myer Foundation P. & S. Bassat Family Charitable Foundation Paton Advertising (Trust) Rae and Peter Gunn Family Foundation The R.I. Downing Fellowships Ronald Henderson Research Foundation State Chamber of Commerce (Trust) UBS Australia Foundation Pty Ltd The William Buckland Foundation William Noall & Son (Trust) Wyselaskie (Trust) The Yulgilbar Foundation We would also like to thank and acknowledge the support of the following organisations: AAMI Actuarial Foundation Actuaries Institute Australia AIA Australia ANZ ANZ Trustees Limited Asciano Australian Finance Conference Australian Learning and Teaching Council

Australian Super Bain & Company Bank of America Merrill Lynch Bendigo & Adelaide Bank Bennelong Group Booz & Co Challenger Limited Citi Clayton Utz Colonial Limited Commercial Traveller’s Association CommInsure Commonwealth Bank of Australia CPA Australia Crown Limited Deloitte Department of Primary Industries Departmentof Treasury & Finance Deutsche Bank Economic Society of Australia EgonZehnder Energy Australia Ernst & Young Federation Centres Fidante Partners Financial Management Association of Australia (FMAA) Financial Services Institute of Australasia First Exar Pty Ltd Flagstaff Partners FMAA Ford Motor Company of Australia Forethought Franklin Templeton Investments Fund Executives Association Ltd Gandel Group GHD Gilbert + Tobin Goldman Sachs Grant Samuel

Henry Berry and Company Herbert Smith Freehills HSBC Institute of Chartered Accountants Australia King & Wood Mallesons KordaMentha KPMG Macquarie Group Massachusetts Institute of Technology McGrathNicol ME Bank Minter Ellison MMG Limited Mutual Trust Pty Ltd Myer The Myer Family Company National Australia Bank Oracle Pacific Brands Philip Brass Consultants Pitcher Partners PPB Advisory Prime Value Asset Management Ltd Rio Tinto RSM Bird Cameron Seven West Media SG Hiscock & Company Ltd SMS Management & Technology Society of Actuaries Sothertons Sports Administration and Development Ltd Taylor Fry Toll Holdings Towers Watson Treasury Wine Estates Victorian Employers’ Chamber of Commerce & Industry Watson Wyatt Australia Wesfarmers Westpac

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Ms Cate F. Pickett Mr Julian C. Polic Mr Denis T. Potter Mr Douglas G. Poulter AM Mr Joseph T. Prowse Mr Yak Y. Quek Dr Tjahaja J. L. Riady Mr Stephen H. Roberts Mr Emile Rochman Mr Michael J. Ryan Mr Burnett P. Rymer Mr Barry A. Saunders Mr Derek Sawer Mr Brady Scanlon Mr Pieter C. Scheffers Ms Anna Scott & Mr Peter Scott Mr John O. Sevior Mr John W. Shaw The Hon. Jim Short Mr Rodney G. Sims Mr Geoff Slade Mr Maurice Smith Professor Richard F. Southby Mrs June Spiers & Captain John W. Spiers AM Ms Joan M. Spiller Mr Barry J. Stagoll Mr Rohan L. Stanton Mr Selby K. Steele AM Mr John I. Stragalinos Mr Scott M. Tanner Mr Murli K. Thadani Mrs Padma Thadani Mr Paul Thorpe-Apps Mrs M. R. Topp Mr Alan G. Topp Ms Nancy Tripodi Mr Andrew G. Tulloch Mr Darrell A. Wade Mr Sam Walsh AO Mr Christopher J. Warrell Mr Geoffrey C. Webster Mr Bruce C. Weeden Mr Eric H. Welsh Mrs Janet B. West AM Mr Jamie Westlake

alumni events

Upcoming Events REUNIONS 25 July 2013 1980s Commerce Alumni Reunion Reception A reunion for alumni who started their degree at the Faculty in 1980s Venue: Ian Potter Museum of Art, University of Melbourne, 800 Swanston Street, Carlton Time: 6.30pm to 9.00pm 15 August 2013 1990s Commerce Alumni Reunion Reception A reunion for alumni who started their degree at the Faculty in 1990s Venue: University House @ Woodward Conference Centre, Level 10, 185 Pelham Street, Carlton Time: 6.30pm to 9.00pm 29 August 2013 1970s Commerce Alumni Reunion Reception A reunion for alumni who started their degree at the Faculty in 1970s Venue: Ian Potter Museum of Art, University of Melbourne, 800 Swanston Street, Carlton Time: 6.30pm to 9.00pm

21 August 2013 Alumni Reception in London Host: Professor Paul Kofman, Dean Venue: Downer Room, Australia House, Strand, London Time: 6.30pm to 9.00pm 17 October 2013 China Annual Dean’s Dinner – Shanghai Host: Professor Paul Kofman, Dean Time: 7.30pm – 10.00pm Venue to be confirmed

YOUNG ALUMNI EVENTS 12 September 2013 Young Alumni career panel event Speakers and venue to be confirmed

Commerce Ball Reunion This special event, run by the Young Alumni committee, is being planned for the first time in 2013!

Proposed date: Friday

18 October

2013

22 October 2013

Proposed time: 7.00pm

Public Lecture in Beijing Speaker: Professor Ross Garnaut AO, Vice-Chancellor’s Fellow and Professorial Fellow in Economics, University of Melbourne Venue: Junding Huayue Club Time: 7.30pm – 10.00pm

Proposed venue: Langham

22 October 2013

Register interest at the ‘Commerce Ball Reunion (UniMelb)’ Facebook event page

China Annual Dean’s Dinner – Beijing Host: Professor Paul Kofman, Dean Venue: The Silver Room, Capital M Beijing Time: 7.30pm – 10.00pm

for 7.30 start Ballroom

Proposed price: $138

per person (incl. 3 course dinner and drinks) Proposed dress: Black

Tie

Enquiries and suggestions to youngalumni-fbe@alumni.unimelb. edu.au

Below: Brooke Fielding, Matthew Kidd and Brittany Hancock at the Young Alumni ‘Meet the Entrepreneur’ event

3 October 2013 50+ Golden Alumni Celebration Luncheon A reunion for alumni who graduated 50 or more years ago Venue: Wilson Hall, University of Melbourne (Parkville) Time: 12noon to 2.30pm Please note: Commerce alumni who completed a degree in 1973 or earlier are invited to join this special celebration which will replace this year’s 40+ Reunion Luncheon for Commerce Alumni.

INTERNATIONAL ALUMNI EVENTS 11 July 2013

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Alumni Reception in Bangkok Speaker: Dr Bryan Lim Title: The young or the rich: who will pay for the future?

Venue: tbc Time: 6.30pm to 8.30pm

John Farquhar and Nick Anthony at the Young Alumni ‘Meet the Entrepreneur’ event

ALUMNI MASTER CLASS SERIES 7 August 2013 ‘Performance Management: Placebo, Panacea or Plain Hard Work?’

Speaker: Professor Michelle Brown, Department of Management & Marketing Venue: CQ Functions, Event Room 3, 113 Queen St, Melbourne Time: 6.00pm – 8.00pm

19 November 2013 ‘Innovation Policy: What is the Role of Government?’

Speaker: Professor

Paul Jensen,

Melbourne Institute Venue: CQ Functions, Event Room 3, 113 Queen St, Melbourne Time: 6.00pm – 8.00pm Please refer to the online events calendar for further details on all events as they become available: fbe.unimelb.edu.au/alumni/events

PUBLIC LECTURES 1 August 2012 Downing Lecture 2013, “Time: How we can get it to be on our side” Speaker: Professor Daniel Hamermesh, University of Texas Venue: Basement Theatre, Faculty of Business and Economics, 198 Berkeley Street, Carlton Time: 6.30pm 5 September 2013 Innovation Lecture 2013 Alex Zelinsky Venue: Theatre GM15, Law School Building, 185 Pelham Street, Carlton Time: 6.30pm Speaker: Dr

19 September 2013 Freebairn Lecture in Public Policy 2013 Speaker: Professor Stephen King, Monash University Venue: Basement Theatre, Faculty of Business and Economics, 198 Berkeley Street, Carlton Time: 6.30pm 9 October 2013 Corden Lecture 2013 John Martin, Director for Employment, Labour & Social Affairs, OECD Venue: Carrillo Gantner Theatre, Sidney Myer Asia Centre, Corner Swanston Street & Monash Road, University of Melbourne Time: 6.30pm Speaker: Professor

12 November 2013 Inaugural Professorial Lecture Speaker: Professor Jane Lu, Riady Chair in Asian Business and Economics, University of Melbourne Venue: Carrillo Gantner Theatre, Sidney Myer Asia Centre, Corner Swanston Street & Monash Road, University of Melbourne Time: 6.30pm

If you would like to be added to the Business and Economics public lecture advance notification list, please send an email to fbe-lectures@unimelb.edu.au with ‘Add to public lecture mailing list’ in the email subject field.

Melbourne Institute HILDA Survey Research Conference 2013 3 October and 4 October 2013 The aim of the conference is to provide a forum for the discussion of research based on the Household, Income and Labour Dynamics in Australia Survey.

Attendance at the conference is open to all, but should be of special interest to both users of the HILDA Survey data and persons with an interest in the outcomes from longitudinal survey research in the broad fields of economic and social policy.

Venue: The

University of Melbourne

For further details about any Melbourne Institute events, please visit the Institute’s events page at www.melbourneinstitute. com/miaesr/events or contact Penny Hope, Functions Manager, Melbourne Institute on +61 3 8344 2151 or melb-conf@unimelb.edu.au.

11 September 2013 Foenander Lecture 2013 Sue Richardson, Principal Research Fellow at the National Institute of Labour Studies, Flinders University.

Venue: Basement Theatre, Faculty of Business and Economics, 198 Berkeley Street, Carlton Time: 6.30pm Speaker: Professor

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image © James Rule

Ms Elizabeth Alexander AM

Chancellor (B.Com. 1964)

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