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LBS Innovation Series: Building a global business in a period of disruption

The first video of the 2019 LBS Innovation Series is by James Fazzino who gives a presentation on how the company he lead, Incitec Pivot, strategically responded to digital disruption in its core businesses.

About James

James is a La Trobe alumnus, holding a Bachelor of Economics (Honours) from the University, he is an Adjunct Professor in the La Trobe Business School and a Vice Chancellor’s Fellow. James was honoured with the Distinguished Alumni Award in 2018. He is a respected ASX 50 business leader and currently the Chair of Manufacturing Australia.

James has had a successful career in the international chemicals industry after concluding a highly successful eight-year term as Chief Executive Officer and Managing Director of Incitec Pivot Limited. He also served as the Chief Financial Officer and Finance Director at Incitec and had senior finance roles in ICI/Orica including CFO Chemicals Group, Assistant Treasurer and Head of Investor Relations.

Incitec Pivot Limited

Under James’ leadership, Incitec transformed from a fertiliser co-operative, operating in four Australian states with an enterprise value of $400 million, to a Global Diversified Industrial Chemicals company, operating in 13 countries and with an enterprise value of $8 billion. Incitec is now the world’s second largest supplier of commercial explosives and Australia’s largest manufacturer and supplier of fertilisers.

Responding to digital disruption

James provides a case study in management on how the company grew from a southern Australian fertiliser co-op to a global ASX 50 diversified industrial chemicals and fertiliser company over 14 years. Industrial chemicals and fertilisers are key inputs to soil health and nutritional needs, helping food producers maximise productivity and remain globally competitive. James elaborates on Incitec Pivot’s strategic journey and describes how his executive team drove a ‘gap to perfect’ strategy across the business – where any identified gaps (against international best practice) meet with goals and actions to improve daily performance.



This blog is part of the LBS Innovation Series, developed by Dr Mark Cloney, Professor of Practice in Economics in the La Trobe Business School.

More blogs in the LBS Innovation Series:

Applying agricultural and management skills through an internship at BASF

Emily Clymo, an agribusiness student from Bendigo, was selected for an internship at BASF at their Mt Gambier site. BASF is the largest chemicals producer in the world focusing on creating chemistry for a sustainable future. Not only was it a paid internship, BASF also provided Emily with accommodation and a work vehicle during her stay at Mt Gambier. LBS Newsroom sat down with Emily to hear more about her internship experience.

Emily on site at Mt Gambier

Congratulations on getting selected and then successfully completing the internship! Could you tell us a bit more about yourself?

Growing up in a farming community I had always had a keen interest in the agriculture sector, coupled with an interest in business lead me to begin studying the agribusiness degree at La Trobe in 2017. Shortly thereafter I was giving the opportunity to work as a student ambassador for the university providing information to potential future students about life at La Trobe and more specifically about the agribusiness degree. This gave me the opportunity to represent La Trobe at the Australian Sheep & Wool Show in both 2017 and 2018. This began to open my eyes as to the vast job prospects available, developing a keen interest to understand the various application of agribusiness to all areas of agriculture after growing up in a predominately dairy farming town.

The position for the BASF internship was offered to all agricultural science and agribusiness students and I was fortunate enough to be given the opportunity to undertake the 14-week summer program breeding hybrid canola.

What did you have to do to get an internship?

To get the internship at BASF I was required to submit a cover letter outlining my suitability to the position and a resume. The candidates were then shortlisted and interview times for the following week were arranged. A formal interview took place at the La Trobe University campus in Bundoora. I received a phone call in the following weeks to inform me that I had been successful in attaining the internship. 

What did the internship involve?

The internship was in Mount Gambier, South Australia, working on canola breeding sites to produce experimental hybrid canola lines for Australian and Canadian breeding programs. I worked alongside field agronomists to learn the process of growing unique hybrid canola that has the potential to be released into the commercial market if proven to be successful in further trials. It was a very hands-on internship involving seeding, crop care and site maintenance, erecting pollination tents, handling pollinators (flies and bees), harvest and the supervising of casual labour workers.

How did the internship enrich your student experience?

The internship has enabled me to gain an understanding of real-world application of agricultural and management skills learnt in the agribusiness degree. It has allowed me ‘test out’ the industry and determine if it is the best fit for me going into the future and expand my knowledge as to the available positions within the agriculture and agribusiness sectors. BASF has provided me with a large range of networking opportunities working with professionals from the Canadian breeding program increasing my connections not only nationally but internationally within the organisation.

My student experience at LTU has been enriched by having a practical knowledge of the industry to support the theory learnt at La Trobe. The internship has provided me with more clarity going into the future about which subjects I should enrol in to learn the necessary skills that are required to succeed in the agribusiness industry. Undertaking the BASF internship program has complimented my studies at La Trobe to build a competitive advantage and a solid foundation to develop a career in the industry.

What is your next step study/career-wise?

Going into the future I still have one remaining year of my agribusiness degree, which I will complete at the Bendigo campus. Once I have graduated from the degree I’m currently looking into various graduate programs within the industry to continue gaining a greater understanding of all areas within agribusiness to expand my knowledge and career options.

LBS’ new partnership with the Singapore Institute of Management

Recently, La Trobe Business School and the Singapore Institute of Management (SIM) launched their new partnership for Bachelor of Business (Tourism and Hospitality) and Bachelor of Business (Event Management) Top Up programs in Singapore. Students with an accredited diploma or advanced diploma are given 12 subjects advanced standing, which requires a further 12 subjects to Top Up their qualification to a degree awarded by La Trobe University.

Some students of the first intake

The Bachelor of Business (Tourism and Hospitality) provides students with the skills needed for hospitality and tourism supervision with business management skills and an understanding of the dynamics of the tourism industry. The Bachelor of Business (Event Management) is designed to produce future leaders for the special events sector. It emphasises the application of theoretical knowledge and practical skills needed for the effective management of events.

The subjects are being taught by both LBS lecturers and SIM lecturers in intensive block mode, online, face-to-face and blended learning.

Paul Strickland, Programme Director of the Bachelor of Business (Tourism & Hospitality) said:

“The course has embedded the fundamentals of business plus tourism and hospitality subjects that prepare students for all aspects of the sectors. Students can then choose which direction they would like to pursue as there are no limits”.

Additionally, for the Bachelor of Business (Event Management), Paul stated:

“Working in the events sector leads to working in a variety of jobs including events management, human resourcing and volunteering. Students are prepared for managerial roles to oversee small community-based events and festivals but also large-scale mega-events”.

Two student intakes per year in both Top Up programs will occur in January and July from 2020.

Dining in the Dark during Orientation

LBS Innovation Series – Is Australia prepared?

Professor of Practice in economics at LBS, Dr Mark Cloney, asks: what are the key drivers of innovation, disruption and opportunity in the global food production and agribusiness sectors? And why have the Dutch got it so right?

Changing consumer demand, particularly in Asia, corporatisation of farming, automation on farms and in processing, agtech and advances in the Internet of Things (IoT), digitalisation of supply chains, agricultural science advances, and the emergence of vertical farming are just some of the drivers changing the dynamics of the global food production and agribusiness[1].

The Netherlands

Are Australia’s food producers and agribusiness well-informed and placed to understand these challenges and to gain from the opportunities they offer? Countries like The Netherlands certainly are[2]. Despite its relative size, the Dutch are the world’s second largest exporter of agricultural products at $158 billion, or three times Australia’s exports[3]. Together with the USA and Spain, The Netherlands is one of the world’s three leading producers of vegetables and fruit supplying a quarter of the vegetables that are exported from Europe. Why? The Dutch are forward-looking, highly innovative and collaborative and have achieved worldwide recognition for their research, infrastructure and innovation systems. For example, Wageningen University and Research (WUR) is the number 1 agricultural university in the world for the third year in a row according to The National Taiwan Ranking of over 300 universities; while, 5 of the top 26 global agri-food companies have R&D facilities in The Netherlands[4].

Australia

So where does Australia stand in comparison? Nationally, the food and agribusiness sector employed approximately 522,000 persons and there were approximately 178,500 businesses trading in the sector (as at June 2015). According to the Australian Government’s Industry Innovation and Competitiveness Agenda[5], food production and agribusiness are areas of competitive strength for Australia. Australia’s food and agribusiness sector includes food-related agricultural production, food processing and the major inputs to these activities. This includes: food products, processing and beverage manufacturing as well as key inputs; and, agribusiness that relates directly to food production and their supply chains.

La Trobe’s AgriBio Centre

La Trobe University has demonstrated a strong commitment to helping Australia create a vibrant future for those involved in the production of food, fibre and agribusiness. La Trobe plays its role in building human capital and undertaking R&D and scientific research that supports the food and agribusiness innovation system. For example, La Trobe’s AgriBio Centre brings together world-class research in the largest agricultural R&D organisation in Victoria. La Trobe recently announced funding of $50 million for its new La Trobe Institute for Agriculture and Food focused on solutions for global food security.  La Trobe is also a founding member and financial contributor to Melbourne’s Northern Food Group a partnership with the Victorian government, 5 local governments, 4 tertiary institutes, Yarra Valley Water, Melbourne Innovation Centre, and the Melbourne Market Authority among others.

LBS/NORTHLink Innovation in Food and Agribusiness Forum

So how can Australia’s food producers and agribusiness prepare themselves against ever increasing disruption, and better collaborate with world class researchers and scientists in this field? These are some of the questions being explored at the Innovation in Food and Agribusiness Forum organised by LBS in partnership with NORTHLink. The focus of the Forum is on hearing from industry speakers of successful innovation in the food production and agribusiness sector. It will present industry and government perspectives on how we can continue to improve innovation in this sector, particularly for SMEs and start-ups operating in a global context.

In particular, the Forum offers an opportunity to explore how we create the right collaborative partnerships and environment for food production and agribusiness to succeed globally in an era of increased disruption. Maybe we just need some Dutch courage!

 

References:

 

This blog is part of the LBS Innovation Series, developed by Dr Mark Cloney, Professor of Practice in Economics in the La Trobe Business School. The series was developed after the successful National Innovation Forum organised by La Trobe Business School, NORTH Link and Deloitte Consulting P/L.

More blogs in the LBS Innovation Series:

Exploring Vietnam

The Tourism and Hospitality International Study Program (THS3ISP) went on another successful Vietnam Study Tour.

About the tour

La Trobe Business School, in cooperation with Hanoi University offers students studying Bachelor of Business (Tourism and Hospitality), Bachelor of Business (Event Management) and Bachelor of Business Event Management/Marketing) an opportunity to visit Vietnam for a period of two weeks as an optional elective.

The objective of the study tour is to examine and observe the cultural, social and environmental aspects as a tourist, the impacts of government policy and the legacy of war. Vietnam has a very ‘dark’ history due to its strategic location between China and western societies and is therefore an ideal case study for political, cultural and tourist industry examination.

The assessment tasks include a case study relating to war and ethics, a daily reflective journal, a formal report evaluating the differences between the hotel and restaurant standards of Australia and Vietnam, and a group presentation based on photo journal on a given topic.

Who participated?

Itinerary

Students flew to Ho Chi Minh and started their trip with a city tour of Old Saigon where they visited the Notre Dame Cathedral, the Reunification Palace and the Opera House. They also visited the Cu Chi Underground Tunnel and the former site of the Australia’s Nui Dat Task Force base.

Visit to the Australian war memorable

 

Besides visiting sites in Ho Chi Minh, the students also attended lectures at the university.

University of Ho Chi Minh City

From Ho Chi Minh, the group travelled to Danang for a walking tour through Hoi An Old Town and a Vietnamese cooking class. Students also experienced a behind the scenes tour of the hotel they were staying in, the Vinh Hung Emerald, by the Resort Manager.

Meeting Mr Han – The General Manager

The trip then continued to Hue, including a boat ride on the Perfume River visiting the Thien Mu Pagoda and a tour of the Imperial City of the former emperor. The last leg of the trip included a guided tour of Hanoi and also an overnight cruise of Ha Long Bay, including a crispy spring roll cooking class.

Overnight Cruise at Halong Bay

Benefits for students

The experiences and benefits students take away from this trip are countless. Some of the benefits for students are: experiencing a different culture from a tourist’s perspective, immersing themselves into the culture including learning some of the language and eating the local cuisine. Students also gain a deep appreciation of the legacy of war, experiencing different religions, visiting World Heritage sites, meeting managers of hotels, supporting charity restaurants, visiting other universities and meeting local students. It provides a great opportunity for students to make new friends as no-one knew each other prior to the trip.

Find out more information about the Tourism and Hospitality International Study Program (THS3ISP)

The “Aldi way”

LBS researcher Dr Angela McCabe and Dr Tom Osegowitsch (University of Melbourne), wrote an article for The Conversation on the secret to Aldi’s success.

Aldi’s strategy

An important element of Aldi’s strategy is a severely limited range of “preselected” products, overwhelmingly private brands. The company’s smaller range (some 1,500 store-keeping units as opposed to 20,000 to 30,000 in a large Coles or Woolworths outlet) has several advantages – in terms of store footprints, warehousing infrastructure and supplier discounts, to name a few.

Strategy has limits

In embracing the “Aldi way”, the company has made hard strategic choices. But it’s turning away shoppers who value things other than what’s on offer at Aldi – larger choice, established brands, more service, plusher stores, in-store bakeries and delis or expanded fresh food sections. As a result, Aldi’s growth in Australia is going to reach its limits.

Read the full article here:

The secret to Aldi’s success is choosing what not to do

 

Angela McCabe is a Lecturer in the Department of Management, Sport and Tourism at La Trobe University. Angela McCabe’s research focuses on the mechanism of knowledge transfer and knowledge co-production in cross-sector collaboration. Her work has contributed to understanding the way in which behavioural and institutional dynamics affect teamwork and the production and dissemination of knowledge within university-industry-government networks.

Jamila Gordon – How LTU can make dreams come true

LBS alumna, Jamila Gordon, was interviewed by the Australian Institute of Company Directors (AICD). The interview shows the amazing story of a Somali refugee who is now a high profile Non-Executive Director at Jayride & Advisory Board Member at Venture Crowd. Jamila sat on the university’s Board for five years and sits now on the Board of CareerSeekers, a not-for-profit that helps refugees and asylum seekers find roles within corporate Australia.

From Somalia to La Trobe

Jamila’s family had to flee her home country because of the Somali Civil War. She stayed in Kenya with distant relatives before she met an Australia backpacker who would help her emigrate to Australia. Her dream of going to university almost fell apart when every university in Sydney rejected her. La Trobe University, known for providing educational opportunities for students from disadvantaged backgrounds, accepted Jamila. She became part of the LBS community studying a bachelor of Business (Information Technology).

In the interview Jamila talks about her journey and her career but also about how LTU taught her big-picture thinking, and mentions the great support she received from La Trobe University.

“Not only did they help me, they provided amazing support.”

Read the full article: What I’ve Learned: Jamila Gordon

Meet the new Dean and Head of LBS

Jane Hamilton is the new Dean & Head of the La Trobe Business School.  Business Newsroom sat down with her to ask her some questions about her long-standing relationship with LBS, her new role, taking on challenges, how she relaxes, and more.

 

 

Where do you come from and what brings you to La Trobe University?

I was a student at La Trobe University, at the Bendigo campus. Back then it was still the Bendigo College of Advanced Education, which became part of La Trobe in the 1990s. After finishing my degree I joined the staff as a tutor, and gradually worked my way up. I have been associated with La Trobe for about 30 years. I took an opportunity to work at the University of Technology in Sydney from 2000 to 2005 because I wanted more experience and exposure with my research. But after that, I came back to La Trobe because it is a great place to work.

 

How will you be approaching your new role as Head of School?

Being part of the LBS for nearly 30 years means that I’m very familiar with what we do. However, this is a new role for me so it gives me the opportunity to help LBS find a new direction for the future, and we’re working on a strategy to help us do that. We want to keep everything that’s good about LBS and build upon that. This means providing education that meets students’ expectations for the new world of work, help students get interesting jobs and prepare them for anything that might come to them in the future. I want all LBS students to have a fantastic experience with us.

In terms of research, LBS has great strengths in several areas. We have a number of research centres, and we would like to see them flourish. In particular, the two largest ones, the Centre for Sport and Social Impact and the Research Centre for Data Analytics & Cognition, are well connected with outside parties. We also have many academics that are experts in their fields and very highly rated internationally. Several of our research disciplines are rated above world standard and I would like to support them to keep continuing their good work.

Several of our staff come in as early career researchers. I would like to help them develop their skills in research so that they too can have a career in research. I would like them to have a satisfying career, feel connected within the school, have the possibility to engage with business and the community around them and allow them to produce research that is meaningful in a variety of ways. Their work might impact the way people do business, it might impact on the academic research field, or impact on people’s personal lives. There is a wide range of research happening within LBS and we need to support that to make our research output even stronger.

 

What do you know now that you wished you knew when you were a student at university?

I just loved being a student. Up until then, it was the most interesting thing that I had done, it was a joy to challenge myself and learn new things.

I wish I would have had a little bit more self-belief. When I started doing research I was so nervous about standing up in front of people and presenting my ideas. I didn’t know whether I had done a good job or not. Looking back, I did a good job and I just wish I had more confidence and more belief in myself.

 

Have you always been ambitious?

Yes and no. It’s not so much about ambition. I never thought I would be in a particular position, I wasn’t ambitious in that sense, but I do enjoy taking on new things and I think all ambitious people do. I think ambitious people enjoy the process of learning. Taking on a new position like this is where I get that joy of learning. When you’re a student all is new, and then when you’re in a job for too long it can get a bit stale, so you need to give yourself a new challenge and that’s what I like to do. You take on a challenge, you master that, and take on another challenge and you master that, and that constant stretching helps you develop.

I didn’t know that I was going to end up in this position, going from an LBS student to becoming the Dean & Head of School for LBS. It was quite a journey and I probably didn’t know what I was going to do, but every step of the way I challenged myself and took on that stretch, and it was very rewarding. I learnt this process over the years so probably if I knew this back then I would have taken more steps earlier, but that’s life.

 

What do you do to get rid of stress?

Lately I have been going for runs and I have been really enjoying it. If I don’t feel like running, I’ll go for a walk. I enjoy getting up early and going out. It helps me to get into work fresh and feel prepared for a long day ahead.

During my weekends I like to go outside and work on our bush block, walk around in nature, something like that. I don’t do very ambitious things, I like to do something that is out of work and outside. Just get basic, not having to talk to people or think about things too much. It gives me that contrast with my job.

I like to take at least one day during my weekend where I turn everything off so that I can just have that break. I work quite long days during the week, and sometimes you need to do some work on the weekend to get ready on Monday, but I do try and work really hard during the week so that I can have a bit of space on the weekend. Taking a break is important.

 

Last question, if people come across you at the coffee-machine, what’s a good conversation starter?

“Can I get you a coffee?” and I will always say yes! A simple “how are you today?” is also fine, ask me what I think of the cricket, or the footy. That will get me engaged in a conversation.

 

Professor Jane Hamilton was appointed as Dean and Head of La Trobe Business School in April 2018 and brings a wealth of experience and expertise to this important leadership position. Jane is a Professor of Accounting and holds a PhD from Monash University and a Masters of Accountancy from the University of New England, having completed her undergraduate studies in Bendigo. She brings a unique perspective to the role of Head of School, having worked at La Trobe’s Bendigo campus since 1989. Jane was Associate Head of the Business School from 2015 to 2018 and had responsibility for regional campus operations, international partnerships, and third-party teaching. As well as her experience in senior management positions, Jane has a distinguished record of teaching, research and partnership engagement at both La Trobe University and the University of Technology, Sydney.

LBS Innovation Series: Universities’ engagement with industry

Australia must get better at creating meaningful collaboration between universities and business. The Federal Government flagged innovation in Australia as a major policy focus with its $1.1 billion National Science and Innovation Agenda in November 2015. Dr Mark Cloney, Professor of Practice in Economics in the La Trobe Business School, shares his thoughts on creating meaningful collaboration between universities and business.

Bringing industry into the classroom

One way La Trobe Business School is working towards better engagement with industry is through hiring Professors of Practice. A concept born out of the school’s strategic decision to adopt an approach focused on bringing industry into the classroom. Professors of Practice, such as myself, are experienced practitioners in a relevant field of professional practice. We teach subjects and courses that provide a high quality and industry relevant learning experience.

Before I joined LBS, I was the Senior Executive Officer responsible for enterprises management, business planning, audit and protective security in the Commonwealth Department of Agriculture and Water. My experience leads me to be able to develop innovative teaching programs in the economics discipline and risk management practice that enhance the student learning experience, and enhance their career-readiness.

Bringing research into the market

Besides bringing industry experience into the classroom, we also build relationships by organising events where academia and industry can come together. The National Innovation Forum organised by La Trobe business School, NORTH Link and Deloitte Consulting P/L is a great example of such an event. More than 90 business, local government, academic and industry group representatives from Australia and internationally discussing the question:

 

How can we create sustainable bonds between universities, business and not for profits with a view towards creating a more mature innovation culture and ecosystem?

 

The discussions on strengthening collaboration are centred on maintaining industry-university connections and relationships through regular engagement and dialogue and the use of accelerators and incubators. Thus, universities need to create open collaborative spaces and networks with industry where there is potential to commercialise ideas.

This implies that each side needs to engage far beyond the traditional exchange of research for funding model. The implication is that we need strategic partnerships that better blend the research-driven culture of the university with the innovation/data-driven environment of business.

 What more can universities do?

Forum delegate discussions and feedback show that some of the key points universities could consider in enhancing their engagement with industry are:

  • Streamline the decision making processes in terms of entering into collaborative arrangements with industry i.e. make it easier and break down barriers.
  • Changing the incentive system for academics to be equally rewarded for their industry engagement/collaboration as they are for their research.
  • Focus on talking the same language as industry (i.e. business practice) rather than academic theory (shaped by the need to publish).
  • Have a clear path of entry and handling strategy for business’ seeking collaboration opportunities.
  • Hold regular events that give business an opportunity to access and learn about its research and R&D activities.
  • Facilitate more frequent industry engagement/dialogue including events such as the National Innovation Forum which begin to bridge the gaps.
  • Introduce staff industry placements/secondments.
  • Work with industry on developing work-in-learning opportunities to develop more business ready graduates.
  • Establish quicker processes for changing curriculum and subject offering in response to industry need and the changing nature of work.
  • Offer all students opportunity to learn entrepreneurial skills i.e. to nurture start-ups and innovation.

La Trobe University, and La Trobe Business School, are already very active in many of these areas (e.g. La Trobe Accelerator Program; Professors of Practice, Work Integrated Learning and Placements; Industry and Community Engagement; Research and Innovation Precinct etc.) but we can always strive to do better.

 

Read the full NIF 17 Summary Report

  

This blog is part of the LBS Innovation Series, developed by Dr Mark Cloney, Professor of Practice in Economics in the La Trobe Business School. The series was developed after the successful National Innovation Forum organised by La Trobe Business School, NORTH Link and Deloitte Consulting P/L.

More blogs in the LBS Innovation Series:

LBS Innovation Series: Introduction

Business Newsroom brings you the LBS Innovation Series, developed by Dr Mark Cloney, Professor of Practice in Economics in the La Trobe Business School.

National Innovation Forum

The goal of the LBS is to teach and produce research that has a positive impact on the ideas and views of our leaders of tomorrow in business, government, and not-for-profit organisations. With that in mind, LBS organised the first National Innovation Forum (NIF) last year in collaboration with NORTH Link and Deloitte Consulting P/L. More than 90 businesses, local government, academics and industry group representatives from Australia and internationally came together to explore how we can create sustainable bonds between universities with a view towards creating a more mature innovation culture and ecosystem.

Key themes discussed during the NIF Forum were:

  • The role of incubators and accelerators in engaging start-ups and SMEs and connecting university-industry innovation.
  • Global forces shaping opportunities for business (including start-ups and SMEs) over the coming decade.
  • Business perspectives on the opportunities and barriers to university-industry collaboration.
  • Changing nature of business models and start-up tools.
  • Developing business environments where innovation can thrive.

Mark has compiled the discussions on these key themes and turned it into the LBS Innovation Series, giving you the latest news, information and developments in the innovation space.

 

Watch Mark’s introduction to the LBS Innovation Series:

What is innovation?

Kenneth Morse explains innovation as ideas or invention plus commercialisation. So innovation adds value for consumers, but it can’t do this if it remains an idea or an unknown invention. It’s the idea plus the commercialisation of that idea or invention that leads to innovation.

What is the importance of innovation to social and economic change?

According to Klaus Schwab we have entered a fourth industrial revolution and like the three previous industrial revolutions, we are in the midst of a profound change to our economic and social structures.

The first industrial revolution from the 1760s was built on the construction of railroads and mechanical inventions such as the steam engine; the second in the 1860s on mass production and the harnessing of energy in the form of electricity; while the third from the 1960s was built on digital or computer revolution. These revolutions caused radical disruption and change. This is because the core of all these shifts are innovation and new technology that reformulate the traditional models of economic growth and societal structures.

The Fourth industrial revolution

The fourth industrial revolution (or 4.0) began in the 1990s and is characterised by new digital technologies and devices, platform economics, metadata manipulation, WIFI and the Internet of things, by cheaper, smaller and more powerful sensors, artificial intelligence, and machine learning.

“How will revolution 4.0 play itself out? What are the key drivers? What opportunities does it offer? How can we manage the risk to society of the disruption it brings?”

The aim of the series is to explore these questions and gain useful insight that inform the ideas and views of our leaders of tomorrow. Watch this space for some great presentations by the following key players:

  • Mark shares his thoughts on creating meaningful collaboration between universities and business.
  • Antonio Palanca, CEO and Co-founder the HiveXchange, talks about his start-up science story.
  • Kate Burleigh, former Managing Director of Intel Australia/NZ and now country manager of Amazon Alexa Skills across Australia and New Zealand, looks at why students and businesses with a global mindset are more likely to succeed within the digital era.
  • Craig Scroggie, CEO NEXTDC – Australia’s leading Data-Centre-as-a-Service provider, welcomes us to the 4th Industrial Revolution.
  • Dr Stephan Buse, Deputy Director of the Institute for Technology and Innovation Management (TIM) at Hamburg University of Technology, views Academia-Industry collaboration and engagement, and how universities can strengthen firms’ innovative ability.
  • David Williamson, CEO Melbourne Innovation Centre gives us a case study in innovation.
  • Christine Christian, Chairman of Kirwood Capital, a Director of FlexiGroup Limited, ME Bank Limited, Lonsec Fiscal Group, Victorian Managed Insurance Authority and New-York based Powerlinx Inc, discusses the critical factors that determine why start-ups succeed (and fail).
  • Nick Kaye, founding Chief Executive Officer of the Sydney School of Entrepreneurship, explains how the Sydney School of Entrepreneurship (SSE) came about.
  • Dr. Ben Mitra-Kahn, Chief Economist at IP Australia, elaborates on the University-industry collaboration and IP.
  • Christine Axton, Director in Monitor Deloitte’s Strategy practice, gives us answers to questions such as “how do companies hold on to their ability to innovate? And how do they achieve, and keep, an innovation premium in the market?”

 

Dr Mark Cloney is Professor of Practice in economics at the LBS. Prior to joining La Trobe, Mark was the Senior Executive Officer responsible for enterprises management, business planning, audit and protective security in the Commonwealth Department of Agriculture and Water. Mark teaches in the economics discipline and risk management practice.

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