Avondale Business School collaborates with Business

May 15, 2017 by Avondale Business School

Business and College collaboration is a wonderful way to enhance student learning. A recent excursion organised by the Avondale Business School to Sydney saw students visit 3 business to get insights into risk management, marketing, human resources and accounting.

The first business to open its doors was the Mascot Air Base facility. Manager of Airline safety lead them into the emergency procedures training facility which demonstrated the approach to risk management, in particular in relation to the evacuation of passengers in the event of an emergency. Students were privileged to be shown the various different aeroplane doors used to deploy passengers, rafts and survival kits. They were also shown the pool used for ocean training, in both the dark and in the rain.

Students were then put into the emergency procedure training simulator, where they experienced a crash landing in which the cabin lights turned off and the cabin filled with smoke. Students followed the orders of the cabin staff in relation to “evacuate, evacuate” and were led safely out of the simulator. Some students also were given life vests to deploy, and shown the various safety features such as the water activated light. Students had a better appreciation for flight crew and risk management procedures, after this confronting experience.

Students then headed out to Allianz stadium, for a tour of the facility. Students were taken down the ramp into the stadium, and the logistics of running the stadium that is shared by three different codes of sport (NRL, Rugby Union and Football) was explained. The marketing of the stadium signs, the sponsorship of the different codes and general keeping of the grounds were explained. Students asked questions such as who are the sponsors and what are the benefits of sponsorship from a marketing perspective.

Student then headed into the Sydney Roosters facility where they were led into the boardroom for an “Apprentice” style session (yes Mark Bouris is on the Board of the Sydney Roosters), by the Chief Financial Controller Mr Manuel Vlandis. Students were presented with financial information about the club and the challenges of running a rugby leagues club from a financial perspective. Questions were asked of the salary cap, costs of injured players, and how the model works in relation to revenue streams such as memberships, gate takings and sponsorship. The CFO was happy to answer the questions, and speak of his relationship with the Board and the new strategic plan they are currently developing.

Students then headed next door to the NSW Waratahs headquarters. There the player development manager Lachie McBain explained the complexities of running a rugby club, including issues such as preparing players for life after sport. He talked about the initiatives the club has in place for players such as further education and financial planning. He discussed the available careers in a rugby association, and his role in relation to his employer being RUPA (Rugby Union Players Association), formed to prepare players for life after sport. The club facilities were shown to the students, including the training areas, technology viewing areas and player lounge. Students asked questions in relation to membership numbers, revenue from Foxtel, sponsorship and player wages.

Feedback from the day included the following:

“It gave us insights into jobs where we do not see what happens behind the scenes”

“It was awesome to see business applied in a sporting context”

Avondale Business School will continue working with these businesses in the future, turning textbook learning into the reality of business. As the late Wallaby and Lawyer Ross Turnbull stated “There is nothing that I learnt in SPORT that doesn’t apply to BUSINESS, or LIFE” (2014). This excursion came from research done previously into the education of current sports people for their career after sport, a paper to be presented at the Global Conference on Education and Research (GLOCER 2017), which will be held during May 22-25, 2017 at the University of South Florida Sarasota-Manatee campus in Sarasota, Florida. Here’s the program link:

http://conference.anahei.org/wp-content/uploads/Final-program_5_8_-1.pdfhttp://GLOCER program 2017

How To Be A Bad Manager

December 18, 2016 by Avondale Business School

Bad Managers

I was intrigued recently to read an article in The Huffington Post (find it here) that identified eleven ineffective leadership styles. It was hard while reading not to assign the names of people I have worked with through the years against these. It was even harder when I realised I was guilty of a number of them.

The article is a quick read, in infographic style, so I’m not going to reproduce all the material here, but I will highlight the top five styles that most annoy me:

  1. Micromanaging
  2. Autocratic
  3. Dictatorial
  4. Excessive consistency
  5. Mushroom management

As you read the article, think honestly about your own leadership and see if you are guilty of having any of these styles, and if you do, then develop a plan to see if you can move from being ineffective to effective. Your employees will love you for it!

The CEOs Role in Leading Transformation

December 18, 2016 by Avondale Business School

TransformationPrevious ABS blogs have highlighted the processes involved in organisational transformations and change management. However, until recently, none of the research or articles looked in detail at the role the CEO of an organisation should play in this process.

The management consulting and research company McKinsey&Co have published just such an article based on their extensive research and experience in this area (read it here). While allowing for the vast differences in organisations and the particular uniqueness of each one, they have distilled four key functions that together are what leads to the CEO playing a successful role in a transformation. While providing just a summary, the entire article is worth the read. These roles are:

  1. Making the transformation meaningful
    • Adopting a personal approach
    • Openly engaging others
    • Spotlighting success
  2. Role-modelling desired mind-sets and behaviour
    • Transforming yourself
    • Taking symbolic action
  3. Building a strong and committed top team
    • Assessing and acting
    • Investing team time
  4. Relentlessly pursuing impact
    • Rolling up your sleeves
    • Holding leaders accountable

Committing to these actions more often than not sees the CEO play an important part in a successful transformation. Thinking about your role as a CEO, or your CEO, how many of these actions would you say are happening?

Are You A Toxic Leader?

December 4, 2016 by Avondale Business School

Toxic LeadershipThat’s a tough question to answer for many of us. We would like to believe that we have no faults, and if only everybody did what they were told, before I tell them, then the business will go alright. Unfortunately, sometimes we are the problem, and for leaders it may be our leadership.

In a recent blog in Business News Daily (Read it here), Nicole Fallon Taylor outlines 4 warning signs that you may be that toxic leader. The article is well worth the read, if you are game! As a teaser, the four warning signs are:

  1. Your team keeps disappearing
  2. People don’t look to you for guidance
  3. You frequently have negative emotional reactions to work situations
  4. You feel the need to control all aspects of your teams’ operations

But don’t despair if you recognise some (or all) of these behaviours, as there are things you can do to reduce your toxicity. Fallon refers to strategies that include self-awareness, humility and accountability. In the article there are three questions to ask yourself regarding your interactions with people. Why not try some of these out during the next week and see what happens.

The Avondale Business School can help you be an effective leader– find out how by contacting Warrick Long at the Avondale Business School.

E: Warrick.long@avondale.edu.au

P: 02 4980 2168

Social Media Trends for 2017

December 4, 2016 by Avondale Business School

Social MediaLike it or not, social media has become a mainstay for communication, both at a personal and business level. And in 2017 there are some trends that will change the game, according to Tom Ward writing in a recent Forbes online blog (read it here). Ward cites the fact that there are now over 2.5 billion social media users worldwide, and this is growing 9% per year. Your customers/clients, employees, and other stakeholders ARE using social media, and you do need to have an effective social media strategy to engage with them.

The article is an easy read, and won’t take long, but it covers 5 trends Ward predicts will impact business in 2017. You will need to read the article for the details, but in point form these trends are:

  1. Live Video
  2. Messaging Apps
  3. Social Commerce
  4. Virtual Reality
  5. Social Channels Will Continue to Evolve

As Ward notes, “Facebook, Twitter, Instagram, Snapchat, and other platforms have become such a part of our life, it’s hard to imagine how we lived without them”. Does your business have a strategy that will incorporate these trends? Or will your business be left behind?

If you would like further information on how Avondale Business School can help your organisation, contact Warrick Long:

E: Warrick.long@avondale.edu.au

P: 02 4980 2168

Great Performers Make Their Personal Lives a Priority

November 20, 2016 by Avondale Business School

Work life Balance 2The great dilemma for most people striving for success is to balance their personal lives with their careers, so that neither suffers. How difficult that can be is represented by numerous broken relationships and unrealised dreams. In a very recent post on the Harvard Business Review site, Stew Friedman explores this idea and proposes a way of making it work. You can read the full article here.

Friedman references examples of successful people who have achieved in the four areas of life – work, family, community and self, and talks of “four-way wins” that result in all of these areas being enriched through the span of one’s lifetime. While using these examples, Friedman does so in order to highlight that anyone can achieve this, and it is not the domain of the rich and successful only.

While the article elaborates on these examples, there are three principles that Friedman advocates as the starting point for this success, a quick summary of these are:

  1. Be Real – that is, act with authenticity to clarify what is most important to you.
  2. Be Whole – see how the most important things to you in work, family, community and self affect each other.
  3. Be Innovative – simply experiment with creative ways to get things done, that suit you and those around you.

No one said it was going to be easy, and it does require some degree of strength to work to align these actions between the various domains so they all line up with core values. But when you achieve this, there is less conflict and you can move forward. An interesting comment from Friedman is that the examples he gave of successful people, “…persisted because of their commitment to their families, communities and private selves, not in spite of them.”

The first step – what matters most to you?

The Avondale Business School can advise your organisation on being effective in these areas – find out how by contacting Warrick Long at the Avondale Business School.

E: Warrick.long@avondale.edu.au

P: 02 4980 2168

Strategic IT Predictions – 2017 And Beyond

November 20, 2016 by Avondale Business School

It PredictionsIn October Daryl Plummer of Gartner delivered their 10 strategic predictions for the next 3 – 5 years. These guys are worth listening to, they have a 78% accuracy rate!

A summary of the predictions can be found in an article by Neal Weinberg (find it here) and is well worth the short amount of time it will take to read. Some of them could be major game-changers for all business, and as business leaders, you need to be aware of what is looming. How prepared are you for these? A very small sample of the predictions follow, if you want to know them all, you will have to follow the link to the full article.

  1. By 2020, 100 million consumers will shop in virtual reality
  2. By 2020, 30% of web browsing sessions will be done without a screen
  3. By 2020, algorithms will alter behaviour of billions of global workers in a positive way
  4. By 2022, the Internet of Things will save consumers and businesses $1 trillion a year
  5. By 2020, 40% of employees can cut healthcare costs by wearing a fitness tracker.

If you would like further information on how Avondale Business School can help your organisation, contact Warrick Long:

E: Warrick.long@avondale.edu.au

P: 02 4980 2168

Micromanaging Could be Killing Your Employees

November 6, 2016 by Avondale Business School

MicromanagingVery recent research has looked at how having less freedom in a high-stress job can increase the likelihood of employee death by over 15%. Chad Brooks provides a great summary of  this research in a blog (read it here).

Interestingly, where employees have control within their high-demand jobs, there is a 34% decrease in the likelihood of death as compared to a low demand job. Therefore, in stressful jobs employees need control over what they do and when. This can be energising to employees when they feel they have more freedom.

The study also found that in low control jobs employees are often heavier – frequently the result of using coping mechanisms like eating or smoking to cope.

The lesson from this is that organisations should focus more on giving employees more say in how their work gets done. Are you a micromanager? Or do you trust your employees?

The Avondale Business School can advise your organisation on being effective in these areas – find out how by contacting Warrick Long at the Avondale Business School.

E: Warrick.long@avondale.edu.au

P: 02 4980 2168

Accounting is Dead! Long Live Accounting!

November 6, 2016 by Avondale Business School

Accounting TrendsAccounting has been around for thousands of years, albeit in differing guises. As the society around it has changed, so has accounting. We no longer record information on clay tablets via hieroglyphics, and have even recognised that calculators are more useful than an abacus. But that doesn’t mean accounting should not keep on changing.

In a recent article by Rob Nixon (read it here) he points out three trends happening right now in accounting that will change the way accounting functions. While Nixon expands on these points in his article, in summary they are:

  1. Cloud computing – 24/7 access to real time data. Accountants can move from number-cruncher to information analyst
  2. Providing solutions – sending information to clients and stakeholders via newsletters, videos etc to keep them connected and informed.
  3. Data analytics – big data means loads of information that can supplement the traditional income statement, balance sheet and cash flow statement. The opportunity now exists for deeper analysis of trends and risks.

Accounting is changing, has changed, and we need to adapt to ensure we can meet the opportunities and challenges of this brave new world.

If you would like further information on how Avondale Business School can help your organisation, contact Warrick Long:

E: Warrick.long@avondale.edu.au

P: 02 4980 2168

Multitasking Doesn’t Work!

October 23, 2016 by Avondale Business School

Multitasking 4I have met a lot of people in life who have been very proud and vocal about their ability to multitask, notwithstanding I am a male and supposedly have diminished multitasking abilities. However, a recent article from Andrew Medal in the Entrepreneur blog (find it here) suggests multitasking is not as good as we’ve been led to believe.

The article contends that switching from task to task is very ineffective as it takes our brains some time to adjust to the new flow of thoughts, and rapidly changing disrupts these flows, and compromises the quality of our work. I wonder if this principle would equally apply to rapidly moving from one meeting to the next, with little time between to process or adjust?

Medal proposes a system to increase productivity, based on the method developed and implemented by Ivy Lee in 1918. The process involves six steps:

  1. Make a list of six important tasks for tomorrow at the end of each work day.
  2. ?
  3. ?
  4. ?
  5. ?
  6. Complete all tasks on the list in the same manner and repeat the process for the next day.

What are steps 2 – 5? Well you will need to open the article and find out! However, I can attest that the process does work well, except for when a crisis occurs!

The Avondale Business School can advise your organisation on being effective in these areas – find out how by contacting Warrick Long at the Avondale Business School.

E: Warrick.long@avondale.edu.au

P: 02 4980 2168