Optimising your ‘Data Analytics and Modelling’ skills in today’s market

Posted on February 7, 2014 by

A61F7841By Associate Professor Tony Webber, University of Sydney MBA program

The economic and financial world is a much more volatile place than it was a decade ago. Before this volatility, companies could make do, almost exclusively, in their decision-making with the use of experience or gut feeling. Not anymore. Companies understand that their decision-making requires a more scientific, emotion-free approach if they are to cut through the difficulties associated with a more volatile world.

An important feed into this more scientific approach is data that is both internal and external to the firm. If companies are to implement this all important scientific approach to decision-making, they must invest in deeper and higher quality datasets. And they must also employ people with the necessary skills to work their magic on these datasets. People with these skills are imminently and increasingly employable and possess a competitive vocational edge over their peers.

One of the complexities that companies wish to unravel in the data is how the data is interrelated. How does the economy affect the companies demand? If the company raises prices to recover higher costs, how will this impact earnings? Why is the Australian dollar linked to commodity prices and how can the company use this information to save money? All these questions and more will be answered in the Data Analytics and Modelling (DA&M) module.

Data analytics will become an increasingly important part of the lives of companies as they build better and wider datasets and increasing volatility in the economic world requires greater scrutiny of the data. Students of DA&M in the MBA program at the University of Sydney Business School will therefore be in hotter demand tomorrow then they will be today.

To become an exceptional senior manager, simply understanding and applying these data concepts and tools is not enough. You need to be able to present and communicate your data ideas and findings to senior management in a way that clearly articulates how the organisation can take the theory and turn it into practical solutions. This is a key part of DA&M module.

Posted in Uncategorized | Tagged , , , , , , , , , , , | Leave a comment

Looking back: The first year of the MBA

Posted on December 16, 2013 by

USBS090512-235By Richard Hall, Associate Dean, Management Education

What a year! An incredible cohort, some amazing learning experiences and so many outstanding achievements. The MBA is based on some distinctive key principles and aspirations: a commitment to experiential learning based on doing, developing practical skills and applying those skills in real business situations and in students’ professional work; generating a real cohort experience where students co-create learning with teaching faculty, industry experts, real clients and each other; developing personal and interpersonal skills as well as technical business skills; and extending students beyond the classroom with engagements and activities that emphasise the broader social context of business and management. I am really delighted that so many people have contributed to bringing those aspirations to life in the MBA this year.

Leadership Practice and Development, led by Mike Jenner and Will Harvey, exemplified so much of what we are about in this program – great practical learning and hands-on skill development in which everyone contributes and everyone benefits. In Data Analytics and Modelling, Tony Webber worked with students to find new practical ways to find data, analyse it, generate metrics and measures and, perhaps most importantly, interpret it to make better business and management decisions. Innovation in Strategic Marketing, led by Pennie Frow helped participants focus on cutting edge marketing strategies in an era of dynamism and change. Nigel Finch’s Financial Management used financial management tools and techniques to help students solve key business problems. And Strategies for Growth led by Nick Wailes and Suresh Cuganesan zeroed in on the key elements of strategy formulation and execution in the contemporary environment and engaged the whole class in tackling some especially challenging strategic issues for our valued partner, CSIRO.

The International Business Project unit, held in Shanghai, was one of the year’s highlights. The unit brought together immersion in the China business context, experience of one of China’s leading business schools, Shanghai Jiaotong’s Antai College, challenging work on a series of consulting projects for Chinese enterprises, and a deep appreciation of the scale and complexity of the contemporary China business environment. Hans Hendrischke and Bruce McKern did a tremendous job in pulling together such a complex program.

All this and more, much more, next year! Some incredible new electives, and two other very exciting core units – Critical Analysis and Thought Leadership, and Managing People and Organisations. We are also looking forward to introducing our new dedicated resource for Careers Advice and Advocacy, an extended range of business networking opportunities, Leadership Re-Imagined Seminars and boardroom lunches.

But for now, let me thank everyone for making it such a fabulous year. As I say at every opportunity I get: we are so proud of our students and I find your hard work, commitment, enthusiasm and support for each other and the program genuinely inspiring. Special congratulations to all our teaching team for their dedication, and to the Management Education team who made it all work: Nick Wailes, Taneka Lyford, Katy McEwen, Danny Shepherd, Claudia Kearns and Lucinda Crossley-Meates. And nothing at CBD would work without the incredible Chiara Giuliani!

Enjoy Christmas, recharge and get ready for a massive 2014!

Posted in MBA, Uncategorized | Tagged , , , , , , , , , , , , , , , , | Leave a comment

Work hard, play hard: eMBAssy Ball 2013

Posted on December 6, 2013 by

eMBAssy PicBy Georgia Knox, current student of the University of Sydney Business School MBA program

We made it! Year one of the MBA complete. And what a year it has been, not just for us, the MBA students, but for all those involved in the journey so far – staff, spouses and significant others. So what better way to celebrate than switching our usual post-work or weekend “study” clothes (hey, I wear those trakkies because they are comfortable!) for our best threads and sipping on a few lychee and rose martinis at a black tie ball?

On Saturday 23 November, our recently-formed MBA student association ‘eMBAssy’ (more on that later) hosted the inaugural University of Sydney Business School MBA end of year ball at The Establishment Ballroom. Over 70 guests from the MBA cohort and their partners, Business School staff and eMBA students were welcomed with cocktails, champagne and canapés to an evening full of fun, freedom (from the “uni guilt” that is) and a serious amount of photo booth time.

eMBAssy Treasurer and MC for the evening, Willis Gray reflected on the year that was, including many of the topics that my fellow students have written about in their blog posts. It was clear from both his address to the guests and the many conversations that took place throughout the night just how much we have experienced together in a relatively short period of time, how close we have become as a group and how much each of us has grown as a result.

All those realisations could only lead to one thing – a pumping dance floor! So after our entrees of pepper crusted beef carpaccio, gem cos, caper, quail egg and parmesan or salt and pepper soft shell crab, green papaya, mint, coriander, crisp shallots and palm sugar dressing were neatly finished and we’d wiped the plates clean of our roast rump of salt-grass lamb with sumac, thyme, Lebanese cous cous and tahini or our pan fried ocean trout with chermoula braised lentils and cucumber yoghurt mains, it was time to turn the music up and let our hair down in honour of a successful year of firsts for all involved.

eMBAssy is the University of Sydney Business School’s MBA student association. It was established by the students to provide unique representation outside the University’s formal committee and alumni. A caretaker executive team was formed, whose primary tasks were to set-up all required administrative, legal and financial structures for the association and to organise, promote and source funding for the ball (on the latter, a big thank you to Tiagra Investments, A&H Advisory and the Business School for their support). Now that these tasks are complete, it is time to look to the future. Elections will be held in early 2014 for official executive team members and these positions will be open to both the 2013 MBA cohort and the first intake of the 2014 MBA cohort.

To my fellow students, thank you for a wonderful year and for topping it all off with a great night. To my future fellow students, I am looking forward to meeting you and to sharing some the “hard” times together (both work and play!) And to both, I look forward to seeing you at our 2014 eMBAssy events – whether it be running for President at the election or sharing a casual drink to mark the beginning of term.

Posted in MBA, Uncategorized | Tagged , , , , , , , , , , | Leave a comment

Networking your MBA

Posted on December 4, 2013 by

Thomas Arena

By Dr Thomas Arena, current student of the University of Sydney Business School MBA program

The University of Sydney’s re-imagined MBA has a clear vision of the changing way we do business. As a logical consequence, the approach to networking our MBA is also changing.

This was an idea expanded upon at a recent activity-based seminar that drew on numerous cohort employment experiences derived from roles including strategy director, senior consultant, account manager, project manager, general manager, engineer, research scientist, accountant, chief financial officer, lawyer and surgeon.

A chief aspect we learnt about networking is this: it’s an art. Anything but a necessary annoyance. It represents a valuable opportunity to develop and grow. The art begins with learning to distil your core competencies and extracting novel insights that can be pitched to promote your best self. But of course, the first and foremost step to pay-dirt networking is recognising whether you’re anxious about the process, then reminding yourself that it’s not all about you. Rather, it’s about the need you have to fill.

Crucially, your network is a complex organism of intricate moving parts that demands a strategic balance of personal and professional values. Give it regular exercise and it’ll maintain pace with the rapid changes of today’s business environment, in which success requires the ability to adapt proactively to emerging global trends. Effective networking also means reflecting on your strengths, clarifying your goals, training yourself to listen, asking for advice and most importantly, following up. As my own network branches have developed and matured over the arc of my professional career, I’ve also learned that the most important thing is not necessarily who you know, but what you can do for them.

As MBA cohort members, we all have a great opportunity to expand our existing networks. In the future, each connection we make with our teachers and fellow students will carry forward into the expansive array of industry. It may not always be obvious while we’re sharing a drink after class, but in time we’ll discover the significance of these moments in consolidating the bonds of a fledgling network. What can be clearly appreciated is that we’re on a journey through an extraordinary chapter in our career advancement.

Posted in MBA, Uncategorized | Tagged , , , , , , , , , , , | Leave a comment

Looking back: The first year of the MBA

Posted on December 2, 2013 by

hugh-simpsonBy Hugh Simpson, current student of the University of Sydney Business School’s MBA program

Looking back on the first year of the University of Sydney Business School’s MBA, I can’t believe what I was able to achieve and how much the cohort grew as a cohesive unit. We managed to take on six units this year and the one trend was that it was all experiential through either realistic case studies or real-life projects that would bring measurable impact to our clients.

‘Leadership and Professional Development’ was the first chance for us to meet one another and after a few weekends of team building, leadership exercises and great experiential training, with Associate Professor Mike Jenner and his team, we returned to work with a great set of new skills in our leadership tool box.

Associate Professor Tony Webber then took us for ‘Data Analytics’ and despite being a little unsure of how I would perform under the direction of a former Chief Economist at QANTAS, I can now confidently say that what I learnt has added value to my professional skills, but also my employer.

During the short winter session, Professor Pennie Frow and Donnel Briley, took a smaller group of us through ‘Innovation in Strategic Marketing’ with where we engaged the more creative sides of our brain. This much needed break after a semester of analytics saw the cohort tackle co-creation in organisations and how to effectively build and manage brands.

Our first overseas experience with the MBA was a live consulting project in Shanghai. The cohort grew closer together as we tackled real-life business problems in an overseas market. Under the guidance of the Business School’s Professor Hans Hendrischke and Bruce McKern, we were able to engage with local companies and gain unparalleled insights into the Chinese business environment. This was one of the best academic and professional experiences I have ever had.  You can read more about our Shanghai experience.

Our feet were barely back on the ground after China and the rest of the cohort was getting stuck into the ‘Financial Management’ unit with Dr Nigel Finch. Although I didn’t complete this unit, the students that did said that instead of it being boring accounting, it was a unit that instructed them in the practical use of financial management tools as effective strategies for change. Dr Finch continued a common theme through this MBA by engaging students in experiential case-study learning whilst drawing on his own experiences from Australia to Mongolia.

The last unit for the year was ‘Strategies for Growth’ with Professor Nick Wailes and Professor Suresh Cuganesan. We started off building our strategy tool kit with crowd-sourcing, Porters, blue-ocean, business model canvas and Design Thinking. In the second half of the unit, Suresh took us through how to implement and monitor our brilliant strategies whilst undertaking a real-life strategy project with the CSIRO.

In late November, the cohort came together to reflect at the inaugural Embassy (GEMBA and MBA student association) ball at The Establishment. It was great opportunity to continue building our personal and professional networks, but also to thank our partners for their understanding and support through what has been an extremely busy and rewarding year.

We can’t wait for 2014 and what it will bring.

Posted in Uncategorized | Tagged , , , , , , , , , , , , , , | Leave a comment

Financial Management: a reflection

Posted on November 27, 2013 by

Marc Armitage

By Marc Armitage, current student of the University of Sydney Business School’s MBA program

As part of the University of Sydney Business School MBA program, the Financial Management unit of study was conducted over two weekends and a fair bit of study in the first half of semester two. Holding court was Associate Professor Nigel Finch, whose dry wit and amusing anecdotes turned a potentially dry subject into an interesting and often humourous dialogue.

In discussions with other students since finishing this subject, it’s clear that people got very different things out of Financial Management. Perhaps the most common one has been the translation of financial discussion and commentaries into plain language. One of Nigel’s key teachings was about demystifying some of the common valuation techniques, assessment methods and financial decisions made by managers and the companies which they represent. Nigel taught that good financial management is just as much about asking the right questions than what the answers are. The more knowledge you have, the better questions you can ask.

I found Financial Management to be just as much about managing your own personal decisions as much as anything else. The concepts of how you measure value and planning where you want to be in the future are very important. As we go through life, earn money, hopefully win lotto or get lucky on the Melbourne Cup we are always presented with financial decisions to make. A lot of us are never going to be financial managers but a baseline level of knowledge raises our chances of making good decisions.

Nigel’s views on some very established and well known methods of financial evaluation could be quite controversial. But while he clearly feels strongly about those views they weren’t put to the class in a forced manner. More so in a manner which suggested – “here’s a couple more things to have in your tool box – take them or leave them it’s up to you”. This has been a clear theme throughout all my subjects in the MBA actually. You can do your subjects, do your assessments and forget it all if you want. This would represent a missed opportunity.

Posted in Uncategorized | Tagged , , , , , , , , , , , , | Leave a comment

Looking back: The first year of the MBA

Posted on November 20, 2013 by

seema-punBy Seema Pun, current student of the University of Sydney Business School’s MBA program

They say that the idea of a ‘self-made man’ is a myth and I truly believe it. I’ve gotten through my first year of the University of Sydney Business School’s MBA and it’s not without the support of my wonderful partner and friends, all the staff and lecturers at the Business School and the remarkable bunch of fellow MBA colleagues. What an incredible experience it has been, made just a bit richer because of all the people in it.

Looking back to the first day, I still remember my apprehension going into the class, not knowing what to expect but it was put to rest very quickly. From the moment we started with the commencing unit of study ‘Leadership practice and development’, I knew that this was going to be an experience that was going to leave a lasting impression. At the end of every day I left inspired.

I found ‘Data analytics and modelling’ a bit challenging, especially having no previous background in the area. However, the amount of support from Associate Professor Tony Webber, who is the lecturer of the unit of study, was phenomenal. He was pretty much available 24/7 to answer your questions and I don’t think it gets any better than that. The collegial support and shared learning from my study groups were instrumental. I think it helped us connect with each other and become effective as a team.

Understanding myself, my personal branding and how to communicate it to others was an interesting and insightful exercise in ‘Innovation and strategic marketing’.

The year finished in style with ‘Strategies for growth’, where our cohort presented a strategy brief to the CSIRO organisation.  It was tricky to say the least, to manage and coordinate work with 34 people but the final outcome was impressive.

Some of the highlights for me were how we as a cohort have grown and developed to become such a great team; the incredible support, compassion, strength and leadership that I’ve observed in this MBA; the regular get together at the near-by ‘tea house’; the travel stories told by Associate Professor Nigel Finch.

It’s been a year full of mixed emotions, highs and lows, challenges and lots of hard work but looking at what I’ve accomplished and what I’ve learnt so far; knowing and realising my potential; and great friendships which I’m sure are going to last a long time has been a truly amazing journey. So, I say, bring on the second year!

Posted in MBA | Tagged , , , , , , , , , , , , , , | 1 Comment