Edge Issue 3

ISSUE 3: Sem 1 ‘08/’09

Inside the edge: Letter from Denis Harrington

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Brief Notes

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AIB (Ireland) MD ‘Leadership Through Crisis’

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2008/9 Seminar Series

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Pat Rabbitte TD at the GBS Ball

Research Journeys

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Research Day

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Open Day 2009

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MBA Class of 2008 WIT’s eMBA Program graduated its largest class ever this autumn, with 38 students completing the Class of 2008. Expectations are high for these graduates, as they bring their academic excellence to bear in the organisations throughout the South East. Whilst some students were self-funded, or funded by their employer, FAS, the state training agency offered significant financial support to the programme. With numbers this large the programme was divided into two sections- one in Waterford and the other in the County Council offices in Dungarvan.

Commenting on the Graduation, Ray O'Dwyer County Manager expressed his expectation that ‘these graduates will make an impact throughout the region’.

Graduate Business Promotions Ms Jackie Murphy e graduatebusiness@wit.ie t +353+(0)51 302424

…..from the Head of Graduate Business at WIT There is much change underway within our business communities, with renewed tensions and challenges in our economy. As a School of Business we are aware of our role and contribution to meeting the challenges.

Through our interventions, we are encouraging businesses and leaders to critically reflect and rethink the management competencies and capabilities that will shape business success in the next decade and beyond. As Ireland continues to transform itself to take advantage of the ‘soft revolution’ in which knowledge is evolving as the main driver of economic growth, power will shift from business owners and managers to teams of knowledge co-workers. Organisations and their management teams will now be challenged with the new expectations and demands of knowledge workers.

In this edition we report the success of our recent residential for executives participating on our Masters in Business – The Management of Change. Participants enjoyed an action research forum event in Kilkenny during which they shared experiences and reflections on their research projects and shared ideas with faculty and invited guests. We also update you on our Top Leader Form event which this year was addressed by Donal Forde, Managing Director AIB who spoke to the topic of ‘Leadership in Crisis’. The forum event continues to provide opportunities for our students to engage in real and meaningful ways with senior practitioners from different industry sectors and underscores our commitment to the strong links between business and practice within the region.

The 3rd Annual Research Symposium, a highlight in the postgraduate seminar programme was addressed by Emeritus Professor Michael Baker, who shared his experiences learned over his distinguished career as a one of the world’s foremost marketing academics . The event again added to our knowledge about the process and conduct of research in business and management and was another networking opportunity for our graduate students. I would like also to congratulate our Graduate Business Society for their organisation and co-ordination of our annual gala ball with guest speaker this year Mr Pat Rabbitte, TD. Finally, on behalf of the School, I wish to extend our sincere gratitude to Mr Sam McCauley on completing a very successful CEO-in-Residency. Sam’s unstinting support and commitment, as well as his meaningful engagement with faculty, students and researchers enriched the School’s life. He has also set the template for what a CEO-in-Residence programme can be, and will, undoubtedly be a hard act to follow. We wish him well in his second attempt at retirement.

Best wishes to you all for the new semester,

Blooming Marvellous Congratulations to Gerard Mullen (BSc in Horticulture Class of 2008) who won a Gold Medal at Bloom 08 for his garden "Sandscape", last summer. His garden, sponsored

by Woodie’s DIY explored modern living in a dramatic coastal location, no doubt influenced by his Dungarvan base. Gerard was presented his award by Gary Graham (MBS in the Management of Change Class of 2009) of Bloom Project Manager, Bord Bia.

Centre for Management Research in Healthcare Seminar on Research Ethics Four speakers and over forty attendees debated what research ethics means in the second Centre for Management Research in Healthcare and Healthcare Economics and Health Service Executive seminar of 2008. Speaking at the event were Professor David Smith of the Royal College of Surgeons in Ireland, Ms. Mary Morrissey of the Health Service Executive, Dr. Heike Schmidt-Felzmann of NUI Galway and Ms. Caroline Lamb also of the Health Service Executive. Attendees were treated to an exceptional series of talks, covering such topics as ‘What makes research ethical and why it should be ethically regulated’, ‘The landscape of research ethics committees in Ireland’, ‘Research ethics committees: Why and how’ and ‘Research ethics committees in the HSE, South East region’. In addition, a number of case studies on ethics were worked on by the attendees, leading to some interesting and thought-provoking debate. The seminar was rounded off with a panel discussion, where the speakers addressed questions from the assembled group. The seminar was webcast from to a number of other sites around the country. In addition, the Centre announced that – in late 2009 – it would be hosting a health management conference that would appeal to both academics and practitioners.

MBS in the Management of Change : Residential Workshop Pictured are the Executive MBS in the Management of Change Class of 2009, along with tutors from the School of Business and programme leaders Dr Felicity Kelliher and Sean Byrne, which undertook a residential workshop at Lyrath in Kilkenny last September. This part-time programme develops and hones proactive change management skills in experienced managers and business owners.

Donal Forde, MD AIB Ireland gives ‘Leadership Through Crisis’ talk

Irish entrepreneurs who took chances, invested and helped to make Ireland’s economy the envy of Europe over the past decade must not be allowed lose hope in the global economic turmoil which now prevails, AIB’s Republic of Ireland Managing Director, Donal Forde, has warned. Addressing the Top Leader’s Forum at Waterford Institute of Technology’s School of Business, Mr Forde said the global crisis which has gripped world economies and left them in an unprecedented tailspin will pass and we need to prepare for the upswing.

“The success story which has been Ireland Inc in the past 10 to 15 years has fostered an entrepreneurial spirit and a confidence in our own capabilities. It is this psychology which creates winners. These very people may feel bruised and battered now and there is a fear they will lose this entrepreneurial spirit. Educational institutions have a key role to play in keeping this spirit alive. The fundamentals should continue. But hopefully we will leave behind some of the excesses of the past. We can’t throw the baby out with the bath water. We need to distil what was good in the past, foster our enterprise culture and preserve it,” Mr Forde said in his ‘Leadership Through Crisis’ address to students, alumni and faculty.

Mr Forde said the banking system world-wide will emerge from the current turmoil but much will change. “The banking landscape will be very different in the future. Business models will change and the competitive dynamic will be very different. At times like this, everything comes under scrutiny. “We also have to remember though that the worst of crises do pass. And this one will pass. There will be times of huge opportunity again. Those who are quick and ready to react, ready to go are the ones who will really reap the rewards. There are always opportunities as we come out of times like these,” Mr Forde advised.

The banking boss commended the Irish Financial Regulator for its foresight in sounding early alarm bells for the Irish sector, far ahead of its European and global counterparts. But he said some ‘wriggle room’ is also needed now to spur spending and investment. “The Irish regulator is held in very high esteem internationally and is fairly demanding of Irish banks. Before all the global turmoil blew up, as far back as mid-2007, the Financial Regulator introduced a new set of requirements around funding. This probably saved a lot of Irish banks and it has paid off hugely. “But there may need to be a bit more dynamism now, bend a little and encourage investment and spending in our economy. The regulator is now also part of the answer. We don’t need to return to the excesses of the past but we have to do something to get people spending,” he added.

GB Seminar Series Philip Browne, CEO of the Irish Rugby Football Union kicked off the 2008/9 Graduate Seminar Series.

We have already heard from William Slattery MD of State Street-Ireland and from John Moloney, the CEO of Glanbia plc.

Another regional voice came from John Noonan Flahavan's Sales & Marketing Director.

Two interesting talks from HR experts, Triona Brangan, Four Seasons and Billy Byrne ESB International reflect the growing strength of the MBS HR stream.

Scott Lichstenstein Henley Management College and Gary McManus entrepreneur and WIT graduate rounded off the first semester talks.

Another eclectic mix of high achievers are planned for this academic session and for the international study tour to Leuven.

Pat Rabbitte TD Key Note Speaker at the GBS Ball Last autumn Pat Rabbitte TD, Labour Party Spokesperson on Justice, visited campus to deliver the keynote address at the Graduate Business Societies Annual Ball. Mr Rabbitte took the opportunity to reaffirm his support for a University in the region. In an colourful speech, he also expressed surprise at the way hard socialist values have been quickly taken on by those seeking to nationalise banks.

Niamh Owens BBS MBS There is hardly a government on earth which has not cottoned on to the magic of business incubation centres as a way of driving an innovation economy. Put smart, entrepreneurial people together with a little money, and perhaps a foosball table, whiteboards in the corridors, brightly painted walls, bean bags and a depressed hinterland and presto, you can turn a regional economy around. And there is plenty of evidence that it works. But how do these centres work. That is what my research is about- understanding the human dynamics, the networks that form within these special entrepreneurial spaces. Innovation and entrepreneurial spaces like our own ArcLabs on the Carriganore Campus of WIT. I am working with Dr Bill O’Gorman at the Centre for Economic Development and Regional Economy (CEDRE) at WIT and Professor Helen Lawton Smith at Birkbeck, London University. I am very lucky to have been funded by the Telecommunications Software & Systems Group (TSSG) at WIT.

I cannot believe how long I have been a student at WIT- since 2001. But I have two degrees to show for it already- BBS Class of 2005 and MBS by Research Class of 2007, and hopefully PhD Class of 2010. I knew I wanted to study business from an early age, and WIT’s BBS was a natural choice. I turned up every day, did the work and because of this, I always got good grades. In second year I chose the marketing stream, and in fourth year I got my first taste of research- preparing a thesis on the impact of comparative advertising. I loved it and when Bill offered to take me on for a research masters I jumped at the chance. I undertook a study of barriers to Internationalisation for small to medium sized enterprises. It was a neat study that published well. I served as Graduate Business Society President in 2007/8, just before I registered for a PhD. At this stage, I do not know if I will ever leave WIT, but I am only 24 and there is a lot of the world to see. It is still early days on this research journey.

Niamh was in conversation with Phillip Kelly MBSI Class of 2009

Photo’s from Class of ‘09 Research Day at Faithlegg Hotel

Clockwise from top left: MBS in Marketing, MBSI, MBS HRM, MB in Research, Faculty, MBS in Management, MBAIB and MBS in Economics and Finance.

Photos are available to download on www.flickr.com/photos/witbusiness/