Bizzness One Magazine UNSW Business Society

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U N S W

B u s i n e s s

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F e b r u a r y

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Inspire. Engage. Empower.

STUDENT LIFE

Dedicated to the enrichment of you

STUDY

Academic advancement is yours for the taking

PRESENT CONCERNS IN BUSINESS A forthright look at the industry issues that matter

INNOVATION

Introducing UNSW ‘s own Atlassian and insights into the world of startups

Contents Atlassian - new approach

Surviving first year

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12 Getting to UNSW - A Guide

Innovation

Student Life Surviving First Year

16 19 20

Margaret Zhao explores the do’s and don’t of first year university life Tips and advice for your trek to uni, avoid the queues and make your 9am lecture

Compulsory Cores and group assignments

A succinct guide for your compulsory subjects and for navigating group work

Campus food tips

Feeling hungry, but need to keep an eye on your bank balance? There is hope friend !

Present concerns in business

36 39 44

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Whats in a name?

Amanda Uppal uncovers the role ethnicity plays in the hiring process, and what it means for you

Remittance - money going the distance

Terence Zhou explores how fintech lends an unlikely hand in the battle between minimum-wage migrants and a miserly monopoly

Death of the city

Oscar Fate critiques the intersection between over-regulation, lockout laws and the death of Sydney’s night life

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Innovation today

How has the economy changed to produce batch after batch of new startups?

Atlassian

Get a sneak peek into the world famous fintech startup by UNSW alumni

Foodi - creativity served

Discover the new Uber of food, UNSW startup Foodi!

From ideation to application

Conway Ying explains why it’s not necessary to spend thousands of dollars on turning your idea into reality

From the editors Hello readers, IT’S HAPPENING !

Presenting the first edition of Bizzness for 2016, the publication created by business students for business students! Whether you’ve been travelling the world, catching up on your favourite tv shows, been on some unforgettable road trips, or indulging in some fabulous food we hope you’re all refreshed and raring to begin Semester One! Irrespective of whether you’re one of our returning students seeking to resuscitate your WAM, or you’re here for the first time, convinced you’re going to attend all your lectures, we have no doubt you’ll still enjoy the year ahead!

Bizzness One 2016 will impart an eclectic collection of knowledge and wisdom encompassing everything from learned insights into industries relevant to you, to the unorthodox know-how needed for an enriching university life. Whether its tips for navigating public transport in getting to uni or elucidating understandings of the frenetic world of start-ups, we’ve got you covered!

In addition, to the latest edition of Bizzness One, we’ll also be sending you all endearing emails about weekly happenings, as well as our BSOC Flyer which will recap the BSOC calendar of events just for you ! That being said, be sure to keep an eye out for us this year, especially those of you keen to challenge yourselves in innovative university competitions, we’re sure you’ll be pleasantly surprised !

We wish to thank all of our talented contributors: Alan Hunyh, Margaret Zhao, Nelson Tang, Christine Luo, James Viana, Atlassian, Johnson Su, Conway Ying, Amanda Uppal, Terence Zhou and Oscar Fate.

Malin Wijesuriya and Julie Li Publications Directors UNSW Business Society 2016

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ALEX MALLEY CHIEF EXECUTIVE CPA AUSTRALIA

THE NAKED CEO INVITES YOU TO JOIN HIS NETWORK

Join CPA Australia’s exciting network and get instant access to the career edge you need including: The Naked CeO Online mentoring and advice from Alex Malley, Chief Executive of CPA Australia.

Career expO Meet and chat with leading employers. emplOyer parTNers Be first to hear about internship and graduate employment opportunities.

Plus event invitations, webinars, discounts and more!

Subscribe to our network at cpaaustralia.com.au/network

Chief exeCutive

My team designed a new digital business from scratch NOT JUST

>

I AM A CONSULTANT

DISRUPT YOUR THINKING #disruptyourthinking Š 2015 Deloitte Touche Tohmatsu

yourfuture.deloitte.com.au

President's address

Looking at a new place can give you that feeling of vertigo experienced when standing next to a busy freeway. Suddenly, you are in the midst of a thriving hub, bursting with people full of direction while you remain directionless.

You are at the heart of UNSW, and yet you feel distant, not quite sure how you’ll fit in.

Two years ago, I experienced the full brunt of first year vertigo. I knew it was a chance to begin anew, and yet there was something about the endless conversation and energy around me that seemed helplessly daunting. Slowly, like the landlubber stepping for the first time onto the navy ship, I found my legs. What I learned at the end of my first year was that embracing uncertainty would lead me to great places in this amazing, unique challenge that is university.

Supported by the UNSW Business School, the UNSW Business Society (BSOC) ignites the spark in your steps. We are a not-for-profit organisation that exists to guide students through their orientation, progression, and graduation. I believe the UNSW Business Society offers students an opportunity to grow amongst their peers that will be unsurpassed in your learning life. This is because we relentlessly offer support, guidance and assistance to make sure you have the best possible experience.

I encourage all students to challenge themselves. Whether it be trying your hand at meeting industry representatives, unleashing your strategic planning in a case competition or simply going for a quick game at any sports event, I guarantee you will emerge wiser and brighter. What you will find at the end of your journey is a long list of achievements and experiences. Also, you will emerge with a wide network of friends who without doubt will be a great source of your future success. I suppose, such is the magic of this society that exists to see you thrive and grow.

Ultimately, we are one in the same: by the students for the students. I encourage all of you to come and be a part of this thriving, bursting and bubbling community.

Alan Huynh President UNSW Business Society 2016

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Whatever you love or wherever your passion lies, the training and skills gained as a Chartered Accountant will help forge your pathway to success. It’s no coincidence that 99 of the top 100 global brands* have a CA within their ranks.

Find out how your degree can take you even closer to really loving your work at youunlimitedanz.com Copyright Š 2016 Chartered Accountants Australia and New Zealand. All rights reserved. ABN 50 084 642 571.This material is subject to our full terms and conditions, available at www.charteredaccountantsanz.com *Interbrand 2012 survey. 1215-21

1215-21 CM_LYR_Student_Societies_Ad.indd 1

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BSOC Executive 2016 Alan Huynh President

B. Commerce/ B. Information Systems

Beyond winning the Proctor & Gamble Marketing Competition in his first year, the perennial drive and dedication of our president, exemplified by his fetching pair of eyebags confirm Alan Huynh as a man truly loved by all. As a natural conversationalist, if he’s not imparting a whimsical anecdote or a tale of wisdom, he’ll be thanking you for your question with an ear to ear smile. So when you see him around uni (he’s the one in the BSOC hoodie) feel free to say hello , he’ll definitely make the time for you!

Anna Cheng Treasurer

B. Commerce/ B. Economics

Does this face look familiar?

Introducing Anna Cheng/ Francine the monkey from everyone’s favorite Arthur the Aardvark! When our beloved treasurer isn’t busy reminding the world that she’s an introvert, or perfecting her funky startup Foodi! Anna is cruising the streets on her skateboard evading the victims of her admittedly superb photoshop banter. Renowned as hilarious, blissful and pensive, Anna’s ambition and diligence will compliment her role well, and help BSOC achieve new horizons in the coming year.

Christine Luo Vice President (Internal)

B. Commerce/ B. Science

Our lovable Vice President (Internal) is one of the kindest and bubbliest people you’ll ever meet. An avid fried chicken fan, you’d be forgiven for thinking her natural habitat was your local Hot Star. When she’s not commenting on how hungry she is, Mumma Internal is there for everyone and instinctively puts the needs of others above herself.

Whilst Christine would argue her spirit animal is a sloth, it is usually the sound of a seal that’s synonymous with her laughter. So beyond her love for animals and food, ensure you meet Christine – I’m sure she’ll love you too!

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Mark Lin

Chairperson B. Commerce/ B. Law

Mark, or Uncle Mark as he is otherwise known, is a human carebear. Although Mark is without a doubt one of the most attentive and polite individuals you will ever come across, he is better known for his smiling eyes, distinctive high-pitched laughter and insatiable appetite for dumplings. Aside from noticing Mark hasnt aged since he was five, upon seeing Mark your eyes will smile and you’ll burst into giggles. Why? Because when Mark’s around that’s when you truly know ‘IT’S HAPPENING!!!!!’

George Chen Vice President (Activities)

B. Actuarial Studies

Known for having a polo shirt in every colour of the rainbow, our Vice President (Activities) can usually be spotted by the golden horse on his choice attire.

When not reminding us he goes to the gym or of his CS playing days (which is every day), George is a certified roaster, and often exchanges banter with ‘Francine’ and anyone else really that breathes. However, despite his penchant for roasts, never be afraid to say hello to our endearing Mr Potato Head!

Christopher Chan Vice President (External)

B. Commerce/ B. Law

Introducing our Vice President (External), the ever reliable Christopher ‘KC’ Chan.

Celebrated for his style, suits and love of roasts this supposed incarnation of Harvey Spector also has an obsessive passion for sneakers (rumour has it that his collection is worth more than his life savings). When he’s not too busy perpetuating his recent moniker of Bugs Bunny, one would expect to find KC in the kitchen on the pursuit for mi goreng perfection. Conscientious, suave and a certified roaster, there are few as capable as Christopher ‘KC’ ‘Bugs Bunny’ Chan.

External portfolio Catherine Hu Sponsorship Director

B. Commerce/ B. Law

Introducing Cath, known for being great at everything (especially being tall), Cath is notorious for her back row presence in each BSOC group photo to date. When she’s not rubbing shoulders with the biggest firms and companies you could think of, our Sponsorship Director enjoys singing her heart out with her renditions of Ed Sheeran and Miley Cyrus often likened to Beethoven’s 16th symphony. Warm, lively and adorned with a glorious smile, say hello to Catherine the Great!

Baihe He Careers Director

B. Actuarial Studies/ B. Commerce

True to his name Baihe He (hehehe) loves to laugh and this genuine and likeable personality is what makes him such a valued part of our trident of Careers Directors. When he’s not burning the midnight oil dominating in League of Legends, or indulging in endless binges of reddit, Baihe is flexing his poker face in intense games of Mafia. Professional and intelligent, ensure you say hello to the one and only Baihe He.

Jojo Yu Education Director B. Economics

Meet Jojo, an adoring lover of dogs, cats and everything in between, Jojo embodies similar qualities to the furry friends she loves, as one of the most precious and friendliest characters you’ll ever meet! Her love for her kitten Freddie is a sure reflection of her passion to nurture and mentor the next generation of business students in her capacity as one half of our Education Directors. When she’s not petting animals, you’ll find Jojo reading or drawing.

So don’t be shy, ensure Yu flash a smile at the wonderfully affable Jojo!

Kongwei Ying Careers Director

B. Commerce/ B. Law

Meet Kongwei, a man so successful that they named his street after him (well almost).

Our Kongwei has a strong passion for photography, so it should come as no surprise that he approaches life as a scenic journey! Very much the high achiever, King Kong(wei) has journeyed to Everest having trekked for fifty wintery days in Nepal to nurture his acute sense of adventure.

Indeed, they don’t make them quite like Kongwei anymore, be sure to smile when he takes your photo at the next BSOC event!

Sunny Li Careers Director B. Commerce

Meet Sunny, as her name suggests she is exceptionally bright, and there’s no doubt as Careers Director her radiance will shine upon everything that she does! When she’s not shaking it off to the latest tunes of to Tswizzle, Sunny is jet-setting around the world, embracing her inner travel bee or waiting for the most opportune moment to launch her Kpop career. So when you see Sunny around ensure you say hello, she’ll definitely lighten up your day!

William Goh Education Director B. Commerce/ B. Law

For our outgoing, sporty and punny Education Director where there’s Will there’ll always be a way. As a dedicated loyalist to Manchester United and a fan of cricket and the NBA, Will won’t hesitate to cheer Goh-Goh-Goh for his favourite teams. When he’s not avoiding vegetables (he’s selectively allergic), this man enjoys life in the fast lane, dropping mad bangers via his playing of the cello. Devoted, approachable and enthusiastic, there’s no question that once you see him you Will Goh say hello!

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activities portfolio Tushaar Garg Social Director

B. Commerce/ B. Law

Armed with a strong history in public speaking and debating, it is no surprise that our treasured social director Tushaar has no trouble talking forever about his love of India and cricket. Although Tushaar may seem to focus a lot of attention on all things law-related, the bar exam is not the only sort of bars Tushaar aims to be well-versed in. An avid listener of rap, Tushaar is a big fan of everyone from Kanye to Kendrick. Charismatic and accomplished, ensure you say hello when you see the friendly face of Tushaar.

Anita Wu Social Director B. Commerce

Introducing Anita, one of our Social Directors on a mission to Wu you away! Known for racking up drool-worthy shots of cuisine on Instagram, you can be sure she has a real passion for food! In her spare time, Anita loves her crime shows, teen dramas, Messina, and hiking. Indeed, from Mt Batulao to Te Mata Peak, Anita’s journeys are never lonely, as they are often accompanied by her TayTay playlist. So whilst she may accidently fix you with her ice cold stare, just remember she’ll just as easily warm your heart!

Veronica Lin Social Director B. Commerce/ B. Economics

Enthusiastic and forever smiling our social director Veronica is always there to ease your worries and galvanise you with her upbeat attitude. When she’s not at uni spreading joy she’s out and about overseas volunteering. Veronica is also a domestic and culinary goddess having saved the entire Board of 2016 from certain food poisoning courtesy of late night Migoreng.

Funny, welcoming and perpetually nice, her unerringly optimistic outlook on life places her in a good place to tackle Social head-on this year!

Wenbo Gong Sports Director

B. Actuarial Studies/ B. Commerce

Introducing Wenbo Gong; full time Actuarial student, part time banter king. When he’s not busy roasting his peers, Wenbo is busy maintaining his HD WAM and stunning everyone with his incredible accounting prowess (CPA Award anyone?). In his free time, you’ll hear Wenbo groovin to tunes in his pimped out ride (it’s a Yaris), or bustin’ the latest dance moves at a music festival. Capable of rapping Eminem’s Rap God at 4am Wen-bored, the down-to-earth Wenbo is built to entertain and delight.

Sandra Qi Sports Director

Michael Liang Charities & Partnerships Officer

B. Commerce/ B. Design

Meet Sandra, our multi-talented Sports Director who is equally ready to serenade the world with her sweet voice or run rings around the competition when BSOC pride is on the line.

An artist in every sense of the word, whilst this female Adonis may be defined by her perfect posture and cheese grater abs, it’s her heart of gold that’s most impressionable of all.

Dynamic and strong-willed, through the harmonising of Sandra’s eclectic strengths expect to see great things from a woman equipped with the voice of angels and the fitness of the gods!

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B. Commerce/ B. Information Systems

Three words describe our inaugural Charities & Partnerships officer; humility, motivation and stereosonic. Although the holdder of the quasi-title of Music Festival Ambassador, Michael is also quite the bookworm enjoying Elon Musk autobiographies, classic novels and everything in between. Renowned for his entrepreneurial zeal, Michael aims to develop in the fields of management consulting and financial trading to extend on his passion for start-ups.

internal portfolio Margaret Zhao Marketing Director

Ryan Lum Marketing Director

B. Commerce/ B. Arts

Meet Margaret, a self-professed potato, and one half of our Marketing Directors for 2016.

When not binging on anime and TV shows till 4am, Margaret can be found attempting to fulfill her lifelong ambition of becoming a ninja. In all seriousness, Margaret is one of the most capable and accomplished people you’ll ever have the pleasure of coming across, be sure you say hello!

B. Commerce/ B. Media (PR & Advertising)

Emerging from fairly humble beginnings of Microsoft Paint, our Marketing Director Ryan is now a Photoshop master! Perpetually quirky, exemplified by a fondness for bubblegum milkshakes, Ryan is also a profound thinker and self-aware of his unremarkable eyesight. So even if he can’t see you, he’s more than happy to have a chat!

Malin Wijesuriya Publications Director B. Commerce/ B. Media (PR & Advertising)

Do you enjoy early morning sunrises by the beach? Well, Malin doesn’t. A self-proclaimed night owl, Malin’s love for the night, probably emerges from his secret desire to be Batman. A dedicated individual and self-described as his parents’ favourite child (he’s an only child), Malin is also quite the rhythmist who claims to have reinvented the art of clapping. In any case, be sure to say hello, just don’t ask him if he’s found Nemo yet!

Julie Li Publications Director B. Economics/ B. Law

When she isn’t working 1543 hours a day at a law firm, Julie can be found skipping through the streets of Newtown, visiting the Cow and the Moon for delectable gelato and desserts. Infamous for her (morbid) love of octopi, she is also a well-travelled individual, her tentacles stretching across the globe having lived in Canada, Japan, Singapore, China and New Zealand. Slightly eccentric, unflinchingly passionate, Julie offers a refreshing and unique perspective on the world and those around her, ensure you say a big hello to Julie!

Geneve Estrada HR Director

Nelson Tang HR Director

B. Commerce/ B. Media (PR & Advertising)

Introducing Geneve “Gx” Estrada, when she’s not being reminded of her own Instagram following (over 11900 followers), she’s usually attending a fashion event you’ve probably never heard of. Renowned for being perpetually roasted, Geneve finds solace from the roasters in the blissful eyes of her cute puppy Charlie. Her wide smile that never fails to light up her face is symbolic of Geneve’s passion for those that she loves (basically everyone except Nelson). So if you ever see this top woman don’t forget to follow her on insta!

B. Commerce/ B. Advanced Mathematics

Notorious for his love of (bad) memes, Nelson is one of our cheerful, outgoing and caring Human Resources Directors! If you happen to be pulling an all-nighter, chances are Nelson is up with you, either indulging in a good game of League of Legends or updating his Snapchat story with zoomed-in selfies. Ingenious, compassionate and kind-hearted, Nelson is one of the most approachable people you’re likely to ever meet. So don’t be afraid to say hi to him, it’ll definitely make his day and yours too!

Rishikesh Akolkar IT Director

B. Commerce/ B. Computer Science

This is IT, the moment you’ve been waiting for introducing Rish! This wonderful chocolate man is sweeter and smoother than a tim-tam Nutella milkshake and ready to make you both laugh and think. When not professing his love of reading, our IT Director is notorious for unleashing unorthodox banter in group roasts. Probably coding up a storm near you, he’s eager to create something innovative and leave his mark on the world. Be sure to say hello to BSOC’s resident IT man Rish!

Who knows? He may even let you in on his puntastic in-jokes !

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SURVIVING FIRST YEAR

By Margaret Zhao

+helpful guide to get you through uni To the wide-eyed first years filling the main walkway with the palpable buzz of your newfound excitement – congratulations and welcome to tertiary education. However, be warned. Without the luck, personal drive and connections to find your way through it, many of you are in danger of losing your way. The UNSW Business School will host up to 2000 of you as you explore the versatility of your program and realise that a vast labyrinth of career pathways and interests awaits you. Recognise that the wisdom of your upperclassmen will be a priceless resource – tap into it through the UNSW Business Society (BSOC). BSOC is an organisation run by students for students and it is our objective to guide you through the first year hullaballoo.

Academia: Studying and Time management Never forget about your course outline. It is your holy grail. As a first year, your progress on assessments is unregulated and teaching practices differ greatly across faculties! You’re on your own buddy. Know the dates, know the policy, know the procedure.

There is a very good chance that one or more of your final exams will be at Randwick Racecourse...and on a Saturday. Just a heads up. Planning your transport and arrival time is vital, there will be plenty of staff on site to help you find your way. I recommend Uber, carpooling and checking your exam timetable religiously for unexpected changes.

Remember this, young grasshopper. Moreover, PASS classes are student run supplementary lessons (only for certain subjects.)

Know they’re available and sign up if there is anything you don’t understand. They’re also a great place to meet study mates.

Tip: BSOC’s Education portfolio runs workshops for subjects like ECON1101 and ECON1203 and are geared toward easing first years into tertiary academia.

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Vigorous academic achievement is not the path to success at Uni. You’ll need to buffer that with social and extra-curricular involvements to fully enjoy what UNSW has to offer.

Furthermore, research the expectations for graduate roles in your intended (or tentative) career path. Sometimes, you need a bit more than a HD WAM and sometimes they don’t care about your WAM at all.

SOCIETY INVOLVEMENT

Depending on what program you’re studying, you may automatically be a member of that school’s constituent society. For example, all undergraduates enrolled at the UNSW Business School are members of BSOC. This means you’re entitled to some benefits, sweet discounts and a range of resources you may not be aware of. If you’re curious about what we do, the Director Meet and Greet (Tuesday Week 2) will give you great insight into each portfolio and how subcommittee is formed!

Follow the feed. Join the groups. Student run societies rely heavily on Facebook to get the word out there. Learn about as many societies as possible and find their social media early! Many of the best events that can make your first year (e.g.

Peer Mentoring Program sign ups occur during O-Week, and launches in Week 1!) happen in Semester 1 and take only limited numbers. Don’t be the one to miss out!

Don’t be afraid to sign up for any of our Networking Evenings – it’s just chatting over drinks – and University Case Competitions are open to all years. These might sound intimidating but experience of giving it a go and failing is formative and growth inducing for fledgling business students. Additionally, attending networking events on the more casual side of the spectrum like EY Campus Takeover (Tuesday Week 2) help acclimatise you to networking etiquette!

CAREER What’s the Big Four? You mean Accounting and Finance are not the only majors offered by the Business School? What do all those acronyms mean? Look it up. You’ll thank me later.

And more importantly, don’t be afraid to ask. As a first year, I spent too much time pretending to know what everyone was talking about (truth is, even some of the older students are guilty of this.) No need to be embarrassed or feel out of the loop – you’ll be asking for a lot of your friends too! (Willing to bet on that.)

To point you in the right direction, the Careers Fair is on Monday Week 1 in the Scientia Building and is a group representation of some of the companies and industries that scout our graduates. You’re welcome to peruse the stalls and chat as much as you want to their representatives. You won’t find such a selection gathered in one place until the next Careers Fair in 2017.

Chat to your tutors! They’re a diverse range of individuals working or studying in your fields of interest - readily accessible for you to pick their brains.

Get LinkedIn. It’s a business oriented social networking site, and an excellent avenue for staying in touch with business contacts you might not be ‘friends’ with.

Understand that friends are not forever. People are dynamic and constantly evolving. You will cycle through many friendships in your lifetime and it doesn’t mean the time you spent together is any less because you drifted. Losing friends and making new ones is normal and it’s human.

Dating. Uhhh… that’s a whole ‘nother article we’re not qualified to write. ( Just be yourself, man.)

Your Health The transition into Uni brings undeniable stress and we are all guilty of essentially prioritising everything over sleep (all-nightering assignments yay.) So catch up on the “Zs”. Not just after a tragic night out.

Alcohol can be your friend, but your liver has always been there for you – Make sure it has a good time too! This is a lesson some will learn the hard way.

A busy schedule means you will be eating out a lot. Not only is this expensive but a pattern of unhealthy, greasy food may emerge. Experiment with cooking for yourself and explore Anzac Parade. There, you’ll find a greater range of cuisines with healthy options.

At the end of the day, the most important part of surviving your first year is a healthy dose of introspection. What is important to you and what do you hope to gain out of the University experience? Make sure the value you gain from doing something: going to that event, wearing those heels to class or paying for that membership is worth the effort – and is something that fulfils your intrinsic desires.

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How will your ideas make the world work better?

Student opportunities

Do you know what it takes to build a better working world?

At EY we like to look for smarter and better ways to do things. We like to ask, what if? You see, the biggest breakthroughs in this world happen by asking these two small but powerful words. Lasting achievements start with looking at things in a different way and that’s what we’re all about. It’s the legacy we’re creating for our clients, communities and our people.

Whether you work in Assurance, Tax, Transactions or Advisory, we’ll provide you with experience and experiences that’ll shape your career for years to come. Because when you grow, we do too. With EY you can influence the future of your career, the businesses you work with and even the world you live in.

One decision, a lifetime of opportunity Which program are you eligible to apply for?

High school

Graduating 2018

Cadet Program

Graduating 2017

Graduating 2016

Cadet Program

Vacationer Program

Graduate Program

Game Changers Club

Melbourne Co–Op Program

Sydney Graduate Challenge

Career Compass Program

As a Cadet, you’ll combine work with university studies. It takes drive and commitment, but we’ll provide you with the support you need to succeed. ey.com/au/careers/cadet Our exclusive Game Changers Club will show you it’s never too early to explore how your skills could build into a career as you attend various EY events throughout the year. ey.com/au/careers/game Are you looking for some advice on which direction to take your career? Then apply for our Career Compass Program and discover if a professional services organisation is the right track for you to take. ey.com/au/careers/ccp

Our Vacationer Program is a great way to experience the working world during your holidays. If you’re looking for a practical placement, join our Melbourne Co–Op Program. Show us what you’re capable of and you may be invited to join us after graduation full–time.

If you’re a high performing vacationer, you may be selected to attend the International Intern Leadership Conference (IILC) in Florida, USA. ey.com/au/careers/vacationer

ey.com/au/careers/coop

Join our Graduate Program or Sydney Graduate Challenge Program and you’ll get early responsibility, support and training as you set out to achieve your career ambitions. ey.com/au/careers/graduate

Your journey starts here ey.com/careers

“Can’t believe I’m working on an audit for a music promoter! Even got a sneak peak of the bands touring in the next 5 years. Living the dream.

Love learning so much about different industries.

Wonder what I’ll work on next?” Lizke

Connect with us and stay in touch For more information on how to apply, where you fit, how we develop you, life at EY and what makes us different, visit: ey.com/careers

instagram.com/eyaucareers

bit.ly/EYLinkedIn_Careers

facebook.com/eycareers

youtube.com/ernstandyoungglobal

twitter.com/ey_careersaunz © 2016 Ernst & Young Australia. All Rights Reserved. SCORE No AUNZ00000596 . ED None.

Liability limited by a scheme approved under Professional Standards Legislation. M1528839.

Getting to UNSW A Guide “ When George St closed, everything changed ” - Tearful UNSW Students From Central Station to Kensington The easiest and most direct way of getting to UNSW from Central Station is the express 891 service. Catchable from Eddy Ave, the 891 is the fastest medium of public transport (approx. 13mins) in which you can get to university and runs as frequently as every minute, to at most six minutes between 7am and 10:30am.

Moreover, if you ever have a class on Upper Campus, you can get off at the second stop which is High St, saving you the trouble of 1v1ing Basser Steps.

HOWEVER, like many things in life, the good stuff always comes with a catch. In peak periods, which is generally 7am to 10:30am, queues for the 891 regularly exceed 300 METRES to the extent where the queue may begin at the bus stop but may end at the other side of a park. Hence, the best alternatives from Central Station are the 391, 393 and 395 (approx. 23mins) as well as the M10 (approx. 30mins)

From Town Hall/St James to Kensington Once upon a time the journey from Town Hall to UNSW was as heavenly as public transport could get, with buses which rarely had a ridiculously long queue arriving at UNSW within twenty minutes. Alas, times have changed my friends. The M50 is now the only bus that can get you from Town Hall to UNSW, catchable from ‘Town Hall Station, Park St’ (approx.

30mins), which is just opposite Town Hall Woolies.

However, there are more alternatives at the bus stops close

by St James Station, which is just a straight walk up Park St and then a right on Elizabeth St. Catchable from ‘St James Station, Elizabeth St’, the 392, 394, 396, 397, 399 and L94 (approx. 20mins) all arrive in front of Main Walkway. These buses also can get you near Randwick Racecourse for your exams !

So remember guys if you ever encounter trouble always consult this friendly guide and your travel buddies Google Maps and Tripview. And if worse comes to worse buses such as the 338 and 339 from Eddy Ave run to Clovelly Beach, so if you ever accidently/purposely forget the bus routes to uni, you could always just go to the beach!

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JUMPSTART YOUR CAREER FULL-TIME POSITIONS APPLY NOW

Compulsory Cores & Group Assignments

By Nelson Tang

For those who don’t know already, whilst university comes with the promise of a far more flexible approach to learning than say high school (Area of Study anyone?), university also guarantees that one day you’ll have to hastily assemble an assortment of people together for a group assignment. This is a guide that’ll explain the four compulsory subjects the majority of business students do, and they group work they may entail.

Please note: subjects and structures change year to year!

ACCT1501 Accounting & Financial Management 1A

Colloquially known as ‘1A’ or just ‘Accounting’, this subject will most likely herald the first time you deal with debits and credits at UNSW. 1A usually has a composite mark breakdown of Tutorial Participation (10%), Online Multiple Choice Quizzes (15%), Mid-sem Test (20%) and the Final Exam (55%). Until recently, 1A had a group assignment component that was integrated with your weekly tute questions.

Although the previous semester this was component was removed, your lecturers always have the option of bringing it back just to keep you on your toes! In 1A, group members would be assigned by your tutor, and your group would have been tasked with presenting the topic of the week to the rest of the tute via an oral and powerpoint/prezi presentation.

As far as group assignments go, this would be one of the most straightforward, as provided everyone in your group has done the homework for the assigned week, formulating a presentation should be relatively simple !

ECON1101 Microeconomics 1

Introducing ‘Micro’, arguably one of the most enjoyable subjects you’ll ever study during your time at the UNSW Business School (in my humble opinion!). With two In-Tutorial Tests (15% each), Playconomics (20%), Final Exam (50%) being the recent composite mark breakdown of micro, this is one of the few compulsory cores with zero group assignments. That being said however, Playconomics; ‘a cross between Runescape and The Sims’ is a game worth playing in conjuction with others in order to gain more profound understandings of economic concepts in the course!

ECON1203 Business & Economic Statistics

Presenting ‘Stats’, a compulsory core guranteeded to challenge the depths of your academic prowess.

Stats’ compositie mark breakdown of Fortnightly Quizzes (20%), Statistics Project (20%), Tutorial Participation (10%) and Final Exam (50%) also indicates the lack of a formal group task in this subject. However you are strongly advised to engage in group study for this subject. Why? Well Stats explores many different complex topics, group study of these topics enables a more thorough and nuanced understanding of the subject – which translates to you doing better in your quizzes, project and final exam!

MGMT1001 Managing Organisations & People

Welcome to ‘Management’, the one subject at the UNSW Business School that requires you to climb Everest. With the recent composite mark breakdown comprising of an Individual Essay (15%), Tutorial Participation (5%), Student Video Presentation (2%) as well as a Final Exam (35%),a significant proportion of course outcomes are derived from The Everest Simulation; the central group assignment of Management. The Everest Simulation is a team-based exercised aimed at illustrating concepts such as decision-making, rationality and group dynamics. Upon completition of Everest, students write an Individual Report (30%), chronicling the experiences of the simulation within the context of the MGMT1001 topic frameworks. For the Everest Simulation, your groups will be assigned by your tutor, meaning you have little discretion over who can comprise your group. Consequently it’s important to set clear parameters with group members in order to ensure a smooth Everest experience!

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CAMPUS FOoD TIPS

By Christine luo

Tr o p i c a l G r e e n A small, traditional and absolutely delicious Vietnamese food outlet provides one of the most exotic feeds on campus. Renowned for its beef and chicken pho, vermicelli salads and fried pork cutlet noodles,this little treasure brings Vietnam to you. Don’t forget to chat with the lovely family who work there – if you can speak the home tongue, you may even get an extra or two!

Location: Pavillions Food Court Cost: $$ Goodness: :) :) :)

If you’re m chain is de With friendl it’s a grea Q lounge Arguably the most popular food establishment on campus, Q lounge provides pork belly, chicken schnitzel, salads gourmet sandwiches and more in the Quad.

Location: Quadrangle Cost: $$ Goodness: :) :) :)

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Stock Market You can easily get a refreshing, filling and cheap bowl of salad for under $10 here.

Stock Market allows you choose up to seven toppings for your bed of either iceberg lettuce or garden leaves. However, if staying green isn’t exactly your thing, Stock Market also offers pastas, soups and freshly squeezed juices. I would definitely recommend opting for the Chicken Laksa during winter because it warms you straight up from the heart!

Location: Matthews Food Court Cost: $$ Goodness: :) :) :)

Satay Delight The family recipe for the laksa here is absolutely delightful and gives you generous servings whether you ask for their noodle soups or take away options. Remember to avoid lunch queues!

Location: Matthews Food Court Cost: $$ Goodness: :) :)

Max Brenner If you’re more of a sweet tooth, this renowned chain is definitely the place you’d want to chill. ith friendly customer service and quality food, it’s a great location to relax and catch up with mates after a long day of uni.

Location: Terraces Cost: $$ Goodness: :) :)

Stellinis I would without a doubt say that Stellinis offers the best pasta on campus. Don’t judge the size of these cute boxes, they will be sure to fill you up to the brim!

Stellinis gives you a wide selection of white, pink and red sauces which will probably leave you standing there for much longer than expected.

Location: Terraces Cost: $$ Goodness: :) :) :)

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DARE DARE

TOTO LEAD LEAD

Leadership is born from personal experience. It’s your failures as much as your successes. The key is to learn from Unlike other graduate programs, Leadership is born fromboth. personal experience.

It’s your failures as much as your we put you into meaningful project and operational you have real successes. The key is to learn from both. roles Unlikewhere other graduate programs, we put into meaningful project and operational roles where you have real responsibilities and realyou decision-making authority. responsibilities and real decision-making authority.

Real responsibility here doesn’t mean being stranded in the deep end. You’ll Real responsibility here doesn’t mean being stranded in the deep end. You’ll have the direct support of our most talented leaders. You’ll get to share their have the direct support of our most talented leaders. You’ll get to share their working experiences, insight into their perspectives on making decisions and and working experiences, insight into their perspectives on making decisions direct exposure to their different leadership direct exposure to their differentstyles. leadership styles.

Benot a leader today, not someday.

Be a leader today, someday.

Lead in one of our focused graduate streams: Lead in one of our focused graduate streams: Big Data

Big Data Business Consulting Business Consulting Finance Human Resources Finance Information Technology Human Resources Marketing Information Technology Procurement Marketing Product Development & Quality Assurance Procurement Property Supply Chain Product Development & Quality Assurance Property Supply Chain Closing date 24th March 2016

Closing date 24th March 2016

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Why not show us how you are special, and win!

Enter now on Facebook.

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Enter now on Facebook.

Innovation Today Innovation is the key word of the emerging economy.

James Viana offers an insightful glance into the world of creative solutions

A

ustralia needs innovation. With terms of trade declining and China’s growth slowing, Australia needs to create new ideas and new sources of revenue and growth. An essential part of our economy that needs to be fostered is our entrepreneurial sector, which can create jobs, create wealth, and create new technologies that will revolutionise various fields and serve humanity. Overall, Australia needs to have what Schumpeter calls “agents of innovation … the pivot on which

everything turns”.

Young people are in a good position to be these agents. Our youthful drive and creativity can be utilised to revitalise the economy and create necessary change, while also generating considerable personal wealth. There are many reasons to become an entrepreneur. You may have noticed a pesky problem and you have the solution to it – as revealed by a recent entrepreneurial hack-a-thon, about a million problems can be solved Uber style. You may also have realised that you have the skills and resources to generate an income without being restricted by a higher power. Regardless of your personal reason to become an entrepreneur, there are a variety of greater reasons to become an entrepreneur.

Forbes List Entrepreneur Net worth Position 1 Bill Gates – Microsoft $79.2B 5 Larry Ellison – Oracle $54.3B 15 Jeff Bezos – Amazon.com $34.8B 16 Mark Zuckerberg – Facebook $33.4B 19, 20 Larry Page & Sergey Brin – Google $29.7B & $29.2B

These people innovated their industries and were rewarded handsomely. Not only did they boost their own net worths, they have provided immense benefits to economic growth and development. Facebook, according to a January 2015 report by Deloitte, has “enabled $227bn of economic impact and 4.5m jobs in 2014.”

24

It has also given small businesses the ability to reach customers interested in their products, enabled “new ecosystems such as the app economy”, and “supported entrepreneurship”. You might never have found Facebook and countless other sites for the first time without Google, and you would never have even had the chance without Microsoft! All positive change in the world is driven by entrepreneurship. Enticed?

The following is a table summarising IZA World of Labor’s 2014 research into the economic impacts of entrepreneurship.

Pros - Entrepreneurs boost economic growth

through innovation

- Entrepreneurs drive competition between existing firms creating a variety of economic benefits - Entrepreneurs provide short- and long-term job opportunities - Entrepreneurial activity raises the productivity of firms and economies - Entrepreneurs accelerate structural change by replacing established, sclerotic firms

Cons - In the medium term, entrepreneurial activitvities may lead to layoffs if existing firms close - Entrepreneurship cannot flouris in an overregulated economy - Only a few people have the drive to become entrepreneurs

Australia already has the mindset for innovation, and this

Red Balloon) and John Ilhan (founder of Crazy John’s).

needs to continue. The 2015 Australian Innovation System

Now, how can you follow Turnbull’s words and become the

Report (AISR) found that “by world standards the level of business start-up activity in Australia is high”, and the Global Entrepreneurship Monitor study estimated Australia to have one of the highest total entrepreneurial activity rates in the world at 13.1 per cent of the Australian adult population. The AISR also found that between 2006 and 2011, “the activity of start-up firms added 1.44m full-time-equivalent jobs to the Australian economy”. For a more specific example of Australian entrepreneurial success, Atlassian (founded by two people who met at UNSW!) was a tech start-up founded in Syd-

‘disruptive’, ‘agile’, and ‘creative’ entrepreneur? It may seem tricky, but there are a large amount of resources online that will help you, and if you can spare a weekend, consider going to entrepreneurial meetings and hack-a-thons like Sydney Start-Up Weekend, Sydstart, and Initiate 48. Malcolm Turnbull has also backed up ‘disruption’ with the announcement of the highly praised $1.1bn innovation package, which will make starting up businesses much easier. For further info, refer to the links at the bottom.

ney, and opened on the NASDAQ at $27 per share, $6 higher than its starting price, and valuing the company at $5.6bn.

Other successful Australian entrepreneurs include Janine Allis (founder of Boost Juice), Naomi Simson (founder/CEO of

25

Introducing

Atlassian

UNSW startup taking over the world

The Atlassian Story In 2002, our founders, Scott Farquhar and Mike Cannon-Brookes, set conventional wisdom on its ear by launching a successful enterprise software company with no sales force. From Australia.

Atlassian’s first product, JIRA, proved that if you make a great piece of software, price it right, and make it available to anyone to download from the internet, teams will come. And they'll build great things with it. And they'll tell two friends, and so on, and so on.

Today a lot has changed. We’re over 1,500 Atlassians (and growing), in six locations, with products to help all types of teams realise their visions and get work done. But the fundamentals remain the same. We're for teams because we believe that great teams can do amazing things. We're not afraid to do things differently. And we're driven by an inspiring set of values that shape our culture and our products for the better.

The Atlassian Mission It’s our mission to unleash the potential in every team. Our products help teams organize, collaborate and communicate around shared work. Over 50,000 large and small organizations – including Citigroup, eBay, Coca-Cola, BMW and NASA – use Atlassian’s tracking, service management, and development products to work smarter and deliver quality results on time. We have a wide range of products including JIRA, Confluence, HipChat, Bitbucket and Stash.

The Atlassian Values Within the walls of Atlassian, the term “values-driven” holds special meaning. We believe that our values are core to everything we do, help us make better decisions, and create a culture that fosters openness and innovation. Since our beginning, the Atlassian values have remained consistent: Open company, no bullshit: Being open and honest allows us to make better decisions. Say what you mean, and mean what you say.

Build with heart and balance: When we create, we think about the impact it will have on everyone—our customers, teammates, and ourselves.

Don’t #@!% the customer: We think this one’s pretty obvious. Do the right thing. That’s how we want to be known.

What is the most unique thing about the Atlassian grad program?

One word: HackHouse. HackHouse is a fun-filled week which comprises of Atlassian workshops, team building, and a long held Atlassian tradition—ShipIt—a 24 hour innovation challenge. During ShipIt, our grads are let loose to explore the Atlassian code base.. The grads then form teams and develop awesome projects. And, at the end of their first week, the new grad class presents their projects to the rest of the company. There is no other on boarding experience like HackHouse for a graduate. Atlassian mentors from teams across the business are involved from day one to provide guidance and training. Friendships are formed that last

find atlassian online https://www.atlassian.com/

a lifetime. Atlassian grads (or Gradlassians as we call them) are set up for success. Everybody wins.

27

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Creativity served Foodi is a sharing platform that seeks to revolutionise the food industry by allowing qualified chefs to offer their unique creations directly to Foodies. What this means is that as a chef, you will be able explore the limits of your culinary creativity with complete freedom to work wherever, whenever, while earning additional income outside of existing commitments. On the other hand, Foodies will be able to embrace this culinary creativity and experience the most unique flavours at an affordable price.

Uber and Airbnb have already paved much of the way for this new type of sharing economy, a peer-to-peer market that is much more efficient at distributing resources. Similarly, Foodi seeks to open the market even further, changing the way that the current takeaway/delivery industry is being operated and negatively perceived - disorderly, expensive and unhealthy.

Healthy

l Food

g 29

j Easy

i For you

The foodi Story It may not have occurred to Johnson at the

Pasta/Curry Trial for $7 delivered to campus

time, but the idea of Foodi struck him in the

program in September 2015. They managed

year he deferred Uni after being approached

to cook and deliver over 200 orders in the

to work full-time for American Express as a

short space of 3 days. The demand for home

business development executive. It wasn’t

made meals was astounding. Apart from the

an easy role to be in and especially, as the

cost of our ingredients, which roughly accu-

youngest employee ever (19) to be hired by

mulated to $1.60 per order, they concluded

the company, he often had to work later than

that as a home chef, it was hugely profitable,

others to close clients. This left him in an end-

and as the Foodi, an inexpensive and conve-

less rush to buy, cook, clean and eat healthy

nient way to eat healthy, tasty home made

at the same time.

meals.

In order to validate the idea of whether or not

After that, Foodi was born. It was to be a shar-

other people also enjoyed the convenience,

ing economy concept, much like Airbnb and

affordability and taste of home made meals,

Uber, where both innovation and productivity

the Foodi team decided to launch the Foodi

can be found in the home kitchen.

The foodi team Left: Johnson Su (CEO) Center: Sia Sajadi (Head of Engineering) Right: Adam Love (CTO)

After quickly drawing up a business plan, pitch deck and marketing strategy for Foodi, the team set out for funding. Entrepreneurial pitching competitions at USYD, UNSW, UTS, UMAQ were tried and failed. After a string of setbacks Johnson took a leap of faith and travelled to Shenzhen – the ‘Silicon Valley of China’. After two weeks of going door to door at Shenzhen’s Technology Park while the countdown on his Civil Engineering finals continued, Johnson returned with a six figure AUD investment from an established angel investor. After teaming up with premium boutique software development company Sentia, Foodi was ready to take off into the horizon. And so, it did.

lessons learned It’s almost as if startups live in dog

Ideas must shift and evolve with

Currently, the Foodi team is only

years - one month is basically a year.

change. Do a trial of your idea, even if

comprised of three people – Adam,

Here are a few lessons learned in our

might turn out to be unsustainable nor

the tech guy, Sia, the systems ar-

short - but very long, journey.

scalable, and figure out what is at the

chitect and me, the marketing guy.

heart of the customer’s needs. Asking

Between the three of us we have

customers about their experiences is

a good grasp of our dreams, goals

a surefire way to rectify problems, all

and reality.

Ideas are inherently worthless. Believe it or not, chances are, hundreds if not thousands of others have come up with it before already. Product/market

the while ensuring a better business model is on its way.

fit is hard to achieve from a top down perspective when you’re writing the

Your team is everything. Everybody

business plan without context and

knows a support network is the key

exposure to potential customers. You

to any great success. Unfortunately,

really have to dig deep and continu-

keeping up a strong, healthy team dy-

ally reduce your concept to its base

namic is extraordinarily hard. Foodi

principles in order to understand the

started off with over 9 founding mem-

customer’s core incentives for your

bers. With such a large team ideas

product.

bounced around sluggishly and alloca-

Find Foodi online

www.getfoodi.com.au

tion seemed to take priority over implementation.

31

from IDEATION It’s not necessary to spend thousands of dollars on turning your idea into reality, writes Conway Ying.

to APPLICATION The entrepreneurial spirit at UNSW is incredibly vibrant. With the hopes of striking it big and changing the world, everyone has an idea that they want to work on. Yet somewhere between the emergence of an idea and its implementation, the competing priorities of university life serve to keep ideas simply ideas. Yet our experience was not quite the same. Here's the story of how we took our concept to production without spending a single cent.

Ideation A start-up is simply a response to a problem. When we began, we weren’t under any delusions about the prospects of success - the vast majority of ideas never make it past the concept stage. Of the ones that do, 99% fail.

Therefore, it’s important to tackle a personal problem. For me, I forgot my Casio fx-82AU scientific calculator, the calculator that follows most students from home to school, from high school into university, and finally from classroom to examination room. When I jumped onto the Android Play store to find a replacement, there were thousands of calculator apps, all of them terrible.

It was a very clearly defined niche. A scientific calculator with a natural display on the Android platform. It was definitely not the next “Uber” or “Airbnb” for [insert generic concept here].

Networking An idea is worthless without a way to turn it into reality. Never keep your entrepreneurial ideas to yourself on the fear that it’ll be stolen. Your main problem is convincing people that it’s a viable idea, let alone one that they’ll want to snatch off you.

To find someone with technical skills I hung around the K17 Computer Science Lab talking to passers by. After much rejection, and many chances to rehearse my pitch, I recognised a familiar face: an acquaintance from high school that I had lost touch with after starting university. I gave him a well-rehearsed spiel which deflected off his armour of cynicism and

32

skepticism. So I then showed him the extensive research that I had done to size the market and quantified the lack of competition in this tightly defined niche. My rational approach was also ineffective. What ultimately swayed him was the promise of a technical challenge - the chance to innovate and create something that had never been done before on an Android smartphone. This indicates that it’s really important to understand who you’re talking to and what drives them. Others are not you. Everyone is driven by different motivations. Predictably, memorised appeals to rationality failed while a emotive and visionary approach succeeded.

GROWING PAINS From the very start it was important that we specialised in our respective strengths and trusted the other party to make the right decisions. I was to be the Product Manager, and he was to be the Lead Developer. Our aim was to avoid false pretenses through bestowing ourselves with inflated titles such as Chief Executive Officer and Chief Technical Officer. If we fell into this delusion we would lose sight of the real goal: to provide a product that customers would not only like, but love using.

Ultimately however, it was inevitable that our working relationship would hit rough patches. With my requests for more features only exacerbating the burgeoning technical complexity of our application, Bill was fed up. Our app was barely closer to an actual release and lukewarm reception resulted in us burning out. We mutually decided to go on an indefinite hiatus. This project was over for the foreseeable future.

About Natural Scientific Calculator Natural Scientific Calculator allows you to easily create and share complex maths equations. Physical and phone calculators are still rudimentary in the 21st century but our app is focused on touch. Its distinguishing feature is its “Natural Display”. It represents equations as you’d write them on paper, rather than across a single line. You can pan long equations with a flick of a finger and tap to edit rather than mashing buttons. Not only is it faster and more intuitive, but it also features sharing at the forefront. It’s designed so that you can send equations back and forth, to discuss them with your friends or classmates for an assignment or studying for exams.

MOTIVATION

GROWTH

THE ROAD AHEAD

Motivation is fleeting. We discovered

Initial growth is the result of manually

All of this was in response to a practical

as much when the initial excitement of

recruiting users. Messaging friends, or

problem that we ourselves faced. Yet

creating a product had worn off, only to

hopping onto a forum board and posting

somewhere along the way, the project

be replaced by the monotonous grind of

are all things that we did to land our first

had morphed into something else. What

daily work. After a month of time away

users. The problem with this approach

began as a desire to make a better

from the app I decided to ring Bill up and

is that while you’re almost guaran-

calculator became the desire to make

ask him whether he would give this one

teed to get one user at a time, there is

mathematical concepts simpler to dis-

last chance. He reluctantly agreed. To

little chance that it’ll be self-sustaining.

cuss. Even in today’s digital age, maths is

motivate us one final time, we created a

Regardless, their intensely detailed feed-

still handwritten for the vast majority of

list that we termed “Emotive Milestones”.

back was extremely useful. Modifying

people - it’s simply too cumbersome to

Not ordinary milestones, but rather key

our app in response to this feedback in

do otherwise. If we can even have a small

points that would jolt us out of our seats

spite of our own hunches to the contrary

fraction of the impact that the keyboard

when we realised them. The first few

was ultimately the best decision.

has had on the dissemination of written

would be minor but surprisingly touching

text and the explosion of literature, then

(e.g. a first organic review or an unsub-

After nearly twenty iterations we created

stantiated 1 star rating). Later milestones

an app that spread itself via word of

would shock us through sheer quantity

mouth. At this stage we hadn’t spent a

(e.g. 1000 downloads in a day, or 50,000

single cent on advertising. We made a

cumulative installs). Additionally, what

single post on Reddit and left it at that. In

also riled us into action was fixating on

the next couple of days it began to snow-

the incumbent that we wanted to unseat.

ball. To our surprise, bloggers in lan-

Despite being the most downloaded

guages that we didn’t even speak, such

scientific calculator app in the store, this

as Spanish and Mandarin, had decided

incumbent was an absolute disgrace to

to write reviews, thus spreading the app

the Android platform in terms of

to many users. On one particular day,

archaic design and functionality. All of

we grew by nearly a thousands users in

this re-energised our project which we

a day without any active promotion. The

would continue working on.

real moment of validation was when we received a challenge from another de-

we can rest satisfied.

Above: Logo contributed by Christen Edmundson

veloper attempting to compete with us.

Left: Traditional Calculator Interface Right: “Natural Input” Interface from Natural Scientific Calculator

33

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With BCG you will learn how to navigate complexity, draw unique insights, facilitate change, and become a leader responsible for real and lasting impact. Coached by a personal mentor and supported by your team and individual trainings, you will join a diverse group of highly driven individuals from different backgrounds who respect and trust each other.

“Since joining I have enjoyed the challenges and development my job provides on a daily basis. This includes everything from building economic forecasts to partnering with the head of a billion dollar business unit to designing a strategy team workshop.”

Mazen Nuwayhid, Associate, joined BCG Melbourne in 2014 Bachelor of Arts, The University of Melbourne

“I have developed enormously at BCG. With client exposure across retail, media and industrial goods industries, and close collaboration with my colleagues I have sharpened my analytical and problem solving skills, polished my presentation and client engagement skills, and propelled myself further than I thought possible.”

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APPLY NOW AT CAREERS.BCG.COM The Boston Consulting Group is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, age, religion, sex, sexual orientation, gender identity / expression, national origin, disability, protected veteran status, or any other characteristic protected under applicable law.

i

Whats In a

Name?

Amanda Uppal explores the role your name plays in the hiring process

F

or some it’s the first thing you write on your CV, for others it’s the last, but what impact does your name have when applying for that job?il ipidusa nditiaspel in res suntur, venes nos nus atenduntest, qui conesequi reptasp erorere mporese ruptae nonsed modi cum res quis et ut This

The Experiment

For professors at the Australian National University this was a vital question to be answered. Andrew Booth, Andrew Legih and Elena Vargonova set out to discover inbuilt racism in the Australian job market by distributing 4000 mock CVs to job advertisers across Brisbane, Melbourne and Sydney. In each resume qualifications remained the same while the name of the applicant varied.

After a long journey of collating and compiling, the data revealed Anglicised names being disproportionately favoured over their counterparts, receiving

36

more call backs and interviews despite zero difference in education and experience.

Implicit discrimination

The enemy of all movement towards equality in all workplaces around the world This genus of implicit discrimination against ethnic minorities has been well documented in studies across the world. In Germany, a similar experiment found that applicants with German-sounding names were 14% more likely to be called for an interview than candidates with ‘Turkish’ names.

what does this mean for you?

Well, among some of the first organisations to acknowledge this problem was the British Government under David Cameron. This ‘unconscious bias’ against ethnic minorities is being addressed in Britain’s university entrance process. Under new proposals, candidates will be identified by a code with universities receiving their name if the candidate is called for an interview. This has come after calls from Prime Minister David Cameron that it is “disgraceful” that candidates with “white-sounding names” were twice as likely to be shortlisted for jobs as others.

In terms of the job market, a number of the UK’s leading employers, in both the private and public sectors, have agreed to recruit candidates on a name-blind basis. Such organisations include the BBC, NHS, KPMG and HSBC and employ 1.8 million

Like any social problem, talk is essential. This is because talk produces an echochamber in the general consciousness, thrusting the problem into full view and demanding change. people in total. Deloitte in particular has said it will go a step further by blanking

A 2012 French study found foreign-born

the candidate’s school and university

candidates as well as those from poor

during the interview process. Deloitte’s

districts were less likely to be called for

chief executive David Sproul has said

interview when applications were an-

that “the introduction of name-blind

onymised. Its authors suggested that

recruitment processes and school and

even with name-blind hiring, recruiters

university-blind interviews will help

may use other indicators such as knowl-

prevent unconscious bias and ensure

edge of languages to identify race, the

that job offers are made on the basis of

name of the candidate’s school to iden-

potential – not ethnicity, gender or past

tify religion and a few missing years on

personal circumstance.”

a CV to suggest maternity leave and

Although such changes are a step in

thus that the candidate is female.

the right direction, using anonymity to stamp out discrimination is a fine balance.

what can you do?

Like any social problem, talk is essential.

This is because talk produces an echochamber in the general consciousness, thrusting the problem into full view and demanding change.

In the short term your greatest tool in getting the job is networking. Building relationships and connections is crucial as it is your network of contacts that enables you to get the unlisted job, the rare opportunity and the recommendation that secures you the job.

37

Remittance: Funds that go the distance

Terence Zhou explores how fintech lends an unlikely hand in the battle between minimum-wage migrants and a miserly monopoly

i

f you are the first in your family to move out of a third-world country, it is likely that there will be little distinction between the migration and an investment. For impoverished households, every child that sent to near-mythical gold-paved lands such as Australia, USA or the UK represents an injection of time, of money, and most importantly, of discipline. The majority of new migrants are told by their relatives that their ultimate goal is to provide support for their families back at home, and

perhaps even one day (and here, they stiffen their backs to hide a fluttering, hopeful heart-skip), to take them to the promised land. After all, these parents have feverishly dreamt of a better tomorrow not only for their children, but also for themselves.

On paper, this instruction seems to have been a success. Payments from migrant workers to their home countries, known as remittance, have been conservatively estimated by the World Bank to be at USD $436 billion in 2014. This is more than three times the global foreign aid budget of USD $135 billion, and outstrips the industry earnings in some of the more reliant countries. As an example, remittance payments from overseas workers in the Philipines accounted for 8.5% of the national GDP. In Tajikistan, remittance was at 47%. India, the largest recipient of payments, obtained USD $70 billion of remittance in 2014. At this point, some economists now favour suspending foreign aid, and instead, seek to create support infrastructure for migrants so as to increase their remittance payouts. For once, it seemed that capitalism had truly birthed a love story, a love story where familial loyalty and first-world income had come together in an unstable marriage.

Remittances to Developing Countries Versus Other External Financing Flows

Global remittance receipts are predicted to increase to $500 billion during 2016. Source: World Bank

40

Of course, the reality falls far from the rose-tinted dream. Specifically, the transfer of money to third world countries is decidedly complex, and in the financial world at least, complexity is synonymous with cost. Worse still, the market has effectively been monopolised by two large players: Western Union and MoneyGram, both of which have set up a labyrinth of iron barriers and exclusivity-traps to prevent smaller companies from entry. The result is that on average, 8% of a migrant’s remittance payments will disappear across the electronic pipelines, picked away under the circus-like masquerade of consumer protection fees, local remittance taxes, regulatory requirements, and exaggerated exchange volatility. Africa has it the worst: up to 33% of the remittance payment can be siphoned by external agencies when making a transfer to less accessible countries such as Botswana.

This picture of prejudice against remittance services continues in other shades as well: small sum wire-transfers are offered little protection against fraud, and often take up to five days to ooze through the company’s clogged systems. Indeed, remittance transfers seem to function as a tasteless indication that the migrants are still very much second-class citizens from a third-world country.

Average % cost of transferring $200 USD by product type

The above statistics refer to transfers from USA to South Africa, one of the more expensive remittance corridors.

Source: World Bank

Considering the fact that remittance is arguably more so an

et, an application that allows for instantaneous peer-to-peer

act of donation than it is of commerce, there seems to be little

transactions, where the money is encrypted through Bitcoin

justification for these high fees. Many governments and diplo-

blockchains. SendBitcoin takes it one step further: as prom-

mats (and in a fiery speech during G20, even Bill Gates) agree,

ised in its name, it literally lets you send bitcoins as remittance

but there is little they can do: most are tied up in near-exploit-

payments. There are some larger players as well: Transferwise

ative, archaic contracts with MoneyGram or Western Union,

is a London-based start-up by none other than Richard Bran-

and underscoring every transaction is the fear of the frenzied

son, which achieves cost-savings through matching domestic

political virus that would break out should a terrorist be found

payments and avoiding international brokerage costs.

to be funded by remittance payments. So here, we bleakly ask, is there any hope?

These ideas, whilst sounding about as sane as folding your money into a paper aeroplane and flying it back to the Philip-

Enter fintech. Short for financial technology, the term often re-

pines, are somehow working. Many of the larger start-ups such

fers to bright-eyed young entrepreneurs who seek to disrupt

as Transferwise have attracted over UD $100 million in fund-

and challenge the status quo with niche, financial products. By

ing, and are slowly building up market share. The largest start-

operating on a smaller scale, the majority playfully skip pass

up competitor, WorldRemit, has reported transaction growth

the bureaucracy and red-tape that straps down major players,

of 350% between 2014 and 2015, and has a current valuation

and happily pass on the cost savings to the customers. For

of USD $500 million. Taking advantage of the escalating access

example, Xendpay, a South African specialist firm, has actually

to the Internet in third-world countries, these fintech compa-

removed all transactional fees by tacking smaller remittance

nies have found niches, tiny pockets that cannot be grasped by

payments onto larger corporate transfers, minimising all asso-

the lumbering, slow hands of the duopoly.

ciated costs. Similarly, DigitalX Ltd (winner of the most generic fintech name award) is weeks away from launching AirPock-

41

1. The Usual concept of Money Transfer

If 1 euro = 80 rupees

2. The peer to peer concept of money transfer used by Transferwise

The diagrams demonstrate the ‘redirection’ method of Transferwise’s remittance payments. Source: Shaviraghu

Whilst it is true that in regards to market share, fintech is still

Ultimately, we must remember that remittance is not simply

clawing outside at the iron toll-gates, they have led to move-

an international transaction between two parties. It represents

ment inside the once-dormant engines of Western Union and

the human capacity for love and sacrifice, the victory of filial

MoneyGram. The companies have begun shedding their an-

loyalty over commercial excess. It represents how one’s cultur-

tiquated, paper-heavy transfer methods, entering the digital

al roots and memories can still thrive in foreign soil. And most

age with richer, fatter research and development teams. Re-

importantly, it represents the vision of globalisation, where an

gardless, migrants will welcome the competition in this new

interconnected world does not isolate individuals, but rath-

environment.

er, allows them to gently tiptoe across geographical dividers.

Whether the future is found in fintech or the old duopoly, we

These ideas, whilst sounding about as sane as folding your The

must acknowledge the truth: remittance payments should not

average remittance transfer fee has decreased by almost 10%

be tethered by prejudiced fees. After all, we can only go for-

in the last year alone. The revised prices are most disparate in

ward to unknown lands with the comfort that we are safe to

the Sub-Saharan region, where the average transfer fees for

look back.

Africans in diaspora have decreased from as high as 16% in 2012 to 9.8% by July 2015.

Indeed, the reputation of the duopoly was founded on the iron-clad doctrines of colonialist old-money and a behemoth operating size. In comparison, the reputation of the smaller firms has been lacerated by scandals of cutthroat thefts, volatile technologies and a high potential for bankruptcy.

42

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Death of the city

OSCAR FATE EXPLORES THE LOSS OF SYDNEY'S SOUL IN THE MIDST OF REGULATORY CHANGES I am no fan of the term ‘nanny state’.

with declining revenue, several others

the CBD. However, alcohol-fuelled vi-

It’s the kind of overused, hackneyed

venues have been forced to shred

olence is not a product of geography,

expression commonly sprouted by

their staff, or move outside of the lock-

but of culture. Everything from the

newscorp columnists as a default ar-

out zone. Young people are the big

boorish behaviour of our sports stars

gument against anything from paying

losers in the decimation of Sydney’s

to our disgraceful rates of domestic

taxes and action on climate change

late night economy. With foot traffic

violence points to a dangerous under-

to treating minorities with respect.

down 80% in Kings Cross hundreds of

current of aggressive hypermasculinity

Yet at times, it really does feel like

jobs have been sacrificed. For a gov-

buried in the Australian male psyche.

there is no better way to describe the

ernment that frequently boasts of its

In this context, lockout laws feel more

slow death of Sydney’s nightlife. Since

support for small business, this tar-

like a short-term, bandaid solution to

2014, the notorious 1:30 am lockout

geted attack on a specific sector domi-

an entrenched problem. The assault

laws have been in place across the

nated by the young seems particularly

of transgender woman Stephanie Mc-

CBD and Kings Cross, turning Sydney’s

hypocritical and cruel. Come 1:30, the

Carthy last year in Newtown, a suburb

nocturnal streets into a ghost town.

punters in Kings Cross can take the

which has seen an 18% increase in as-

These laws are more than simply a

party elsewhere. The DJs, bartenders,

sault rates since the lockout indicates

nuisance getting in the way of a good

musicians and promoters whose very

that the problem has not been solved,

time. Rather, they harm our night-time

survival hinges on our nights of end-

just shifted. Finally, the lockout is frus-

economy and leave us culturally im-

less revelry cannot.

tratingly inconsistent. If reducing alco-

poverished in a manner incongruous

44

hol-fuelled assaults is the aim, why is

with Sydney’s hubristic aspirations of

Defenders of lockout laws frequently

the Star Casino, one of Sydney’s most

becoming a truly ‘global city’

assert that there is a serious public

violent venues, curiously exempt? It

health and safety case to be made in

is clear that the lockout is a cop-out,

By late last year, several iconic night-

their favour. Since their implementa-

a quick fix that allows politicians to

spots such as Hugo’s Lounge, Q Bar

tion in early 2014, assault rates have

feign action in response to public out-

and Soho had shut their doors. Faced

fallen 32% in Kings Cross and 40% in

rage, whilst simultaneously failing to

address the booze-soaked, toxic culture

and flourish. Sydney is at a crossroads.

pendent on the late-night economy are

of masculinity that allows this violence to

We want so badly to be recognised as

just as crucial to a city’s global image as

fester.

such a city. We pour billions into devel-

the bankers and industrialists who work

The lockout has had other impacts that

opments designed to improve our urban

by day. Somewhere out there, the next

are less obviously quantifiable. Oxford

infrastructure and beatify our CBD. We

Tame Impala, Midnight Oil or Chet Faker

Street, once the epicentre of the vi-

want to be a centre for innovation and

is waiting for their big break. The next big

brant, diverse and unique side of Syd-

tourism, a place that attracts those from

idea is waiting to transform our nightlife,

ney’s nightlife has been reduced to an

all round the world. And yet we can nev-

if only we were to open our city back up

empty shell. For middle-aged politicians,

er be the great global city we want to be

and unleash its pent up creative forc-

to whom partying at 4am is at best in-

if we have no soul. A thriving nightlife

es. The night-time economy does more

conceivable, and at worst a clear sign

means so much more than a collection

than just pay bartenders’ bills. It allows

of delinquency, the neutering of Ox-

of seedy bars. For every Bar Century,

us to create a unique cultural identity

ford Street is likely no great loss. Yet the

there are live performance venues such

that can make us the envy of the world.

death of a once great cultural hub says

as Goodgod and the Oxford Art Factory,

The battle for Sydney’s soul is being won

much about Sydney itself. It is more than

which despite never having an issue with

by the wowsers and suburbanites, the

just bright lights that make the great cit-

violence, have struggled under the new

kind of people who would never be out

ies of this world truly great. London, New

regime. The lockout laws, however, do

at 2am in the city anyway.

York, Paris and Hong Kong are all cities

not discriminate, but rather taint all es-

with soul, cities so bustling with energy

tablishments with the same brush.

and excitement that the very streets feel

We deserve better.

We can do better.

alive, cities that create an environment

At the end of the day, the artists, the per-

where people can create and innovate

formers, creators and risk-takers, all de-

Figure 1 shows the dramatic decline in foot traffic across the Sydney CBD and main entertainment precinct since 2010. The fall in late night partygoers in this region has major repercussions for Sydney's late night economy. According to the owner of the late Hugo's Lounge, Dave Evans, the lockout laws have cost businesses in the Kings Cross area alone approximately $10 million dollars. Similar laws introduced in Queensland were estimated to have put cost the state economy a similar figure. Mr Evans is currently pursuing a class action compensation lawsuit against the NSW state government on behalf of several inner-city businesses impacted by lock-out laws

45

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