Tackling the Emotional, Ethical and Social

Several weeks ago I blogged about the importance of developing “breadth” skills as a means of career advancement in the current professional labour market.

To recap briefly, these skills refer to the important cognitive, behavioural and social abilities that are becoming increasingly valued by employers. This week I want to touch briefly on the importance of three key “breadth” areas - emotional, ethical and social competencies. These are the skills that enable you to tackle ethical dilemmas that are always present in professional life and reason your way through them based upon assumptions you believe are right. These competencies also enable you to practice cross-cultural sensitivity and to possess an emotional awareness of others who come from different cultural backgrounds. In an increasingly globalised economy, such abilities are vital when it comes to interacting positively with foreign counterparts and avoiding the type of offence that can be caused through unwittingly insensitive comments or actions.

Unlike inherent personality traits (that is, things like emotional stability or openness to new experiences) “breadth” skills, though related to emotion, can be taught. Indeed, these are performance-related attributes that can be sharpened and developed through exposure to experiential learning. It is possible to make someone a more capable and critical thinker by making them aware of their own cogitative frameworks and by encouraging them to engage critically with received ideas and evidence. It is possible to develop someone’s listening and verbal communication skills. It is possible to improve their ethical awareness and propensity for ethical reasoning. Crucially, our Masters-level programs focus heavily on fostering these increasingly relevant abilities.

When it comes to career risk management in times of extreme fluidity and flux, few strategies can match the compilation of a solid “depth” and “breadth” skills balance. It’s an approach that also offers the possibility of capitalising on any opportunities that present.

Author: Professor John Shields - Postgraduate and Master of Commerce Program Director

Going For Gold

When it comes to sports that best prepare you for the challenges of a future business career, I reckon the Modern Pentathlon takes some beating.

With each individual event having its own specific challenges, success in this particular arena, just like in business, hinges on the ability to adapt quickly and to embrace a series of different strategies. Take the swimming and running stages. Here, discipline and extreme focus is the key. A winning performance demands 100 percent effort - no matter how tired or under pressure you are. The shooting requires painstaking precision. Being able to relax completely, maintain concentration, and deal effectively with stressful situations is essential if you want to hit the target. Fencing, meantime, demands a quick shift to a more aggressive and determined mindset. Then there’s show jumping. Because we’re assigned a horse at random just 20-minutes before competition, a strong performance is highly dependent on your ability to cope with uncertainty. You need to be flexible enough to formulate winning strategies and contingency plans in the face of the unexpected.

While I’m hoping these attributes will help me achieve a fantastic result at the up-coming London Olympics, I’m also hopeful that they’ll be highly applicable to my future career. In my conversations with industry and business leaders, I’ve learned that the type of competitiveness, discipline and focus I'm applying now are traits that organisations definitely look for in their executives. It’s their opinion that once these abilities are in place, applying them to different scenarios and challenges is a very natural progression.

Of course, all this is a little way off yet. While my goals for London are firmly in place, my career ambitions are a little less clear. Not that there’s a huge rush to decide. With my Masters of Commerce studies only half complete, I’ll just have to wait and see what develops in post-Olympic life.

Author: Edward Fernon - Masters of Commerce student, qualifier for Australia in Modern Pentathlon at the London Olympics

A Treasure Trove of Opportunity

Although not registering on the radar of many developed world companies, the emerging markets remain an area offering significant opportunities for global market expansion.

That’s because these markets could actually pave the way for enhancing and increasing these companies’ own global competitiveness. For example, the kind of entrepreneurship and innovation occurring in India and China illustrates the type of niche opportunities that exist not only within developing countries, but also within the domestic markets of countries such as Australia and the US.

Consider the example of microfinancing. Stemming from the prevalence of very poor customers who can’t utilise the services of regular banks, a completely new industry has evolved whereby this sector is supplied with finance in small amounts. While a demand for the service itself may not exist in the West, the same logic, principals and strategies responsible for the innovation can be applied to other niche markets in developed economies.

Another interesting example relates to the development by General Electric of a handheld ultrasound machine - a device that’s proving very useful for taking to small remote towns or villages where big hospitals are not present. Although the machine is far less relevant to Western societies, its development nonetheless demonstrates the value of innovating products for sale in developing markets. Significantly, such innovation also entails highly positive social repercussions and possesses a noble intent - something that many companies are currently looking to achieve.

So, why aren’t we seeing more involvement by local companies in these emerging markets? I think it mainly stems from a lack of awareness and knowledge of the opportunities on offer. When that awareness dawns, I believe that they will shift their focus and start to look towards the types of benefits and rewards that these emerging markets can provide.  

Author: Dr Vikas Kumar - Associate Professor and Director EMIRG, University of Sydney Business School

The Changing Game

It's no secret that achieving career success in the midst of current global economic uncertainty poses some significant yet interesting challenges.

The nature of these challenges, as well as strategies for taking advantage of the new opportunities they present, will provide the cornerstone of this Wednesday night’s Business School PG Info Session at the Establishment. The key draw card will be a conversation between new Business School Dean Professor Geoffrey Garrett and the CEO and Chief Country Officer for Citi Australia, Stephen Roberts, who will share their views regarding business expectations of Masters level graduates and the way in which current business circumstances are shaping graduate employment prospects.

From my own perspective, the best career advice in the current climate centres around a willingness to be flexible, both in terms of industries targeted and occupations sought. With this in mind, graduates need to be prepared to up-skill and re-skill through further education including Masters level study. They need to be prepared to combine what we term “depth” and “breadth” knowledge in the studies they undertake with a view to creating a balanced skill portfolio that can be deployed across a range of different industries and occupations. This applies as much to those who want to build a career in general management as to those who plan to forge a career as a specialised business professional.

For those who may be unfamiliar with the terms, “depth” skills relate to the hands-on technical knowledge required to be a proficient business professional in any chosen field, whether it be accounting, finance, marketing, or change management. “Breadth” skills, by contrast, refer to important cognitive, behavioural and social skills. These range from things like critical thinking, problem-solving and communications abilities through to the increasingly important ethical and social competencies. Interestingly, while the depth skills are important to getting that great job, it’s these breadth skills that employers are now looking for to identify those candidates with the greatest high performance capability.

For candidates that boast strong technical proficiencies but lack these required breadth capacities, redressing this particular imbalance could be the most important step they ever undertake. The best postgraduate programs aim to confer both.

Author: Professor John Shields

 
Ignite Your Career
Join the University of Sydney Business School for our Postgraduate Information Session to talk with our leading academics and learning support staff for detailed advice on postgraduate study options.
Date: Wednesday 9th May 2012
Time: 6-8pm
Venue: Establishment Hotel, 252 George Street, Sydney
Register now: http://bit.ly/IpiKgg

All work and no play… Striking the work-life balance

Being a CEMSie is demanding, make no mistake about it!

The benefits that come from being a CEMS student, however, far outweigh any kind of sacrifice one might associate with the degree. Working hard is simply part and parcel of the CEMS playing rules, so if you consider having to study for exams and work on time-consuming group projects a burden too great to handle, then you’ve signed up for the wrong game.

Being part of CEMS has enabled me to make the most of a unique opportunity to study a world-class and academically renowned Master’s program, that has taken me to study and live in exciting and truly fascinating cities such as Sydney, Istanbul and currently, Barcelona. The experience of living and working in three completely diverse countries in the space of just one year leads me to say that international mobility, the breaking down of cultural barriers and the forging of life-long friendships is what CEMS is all about. However, as we all know, nothing is for free in this world and CEMS is no different. Yet the ‘price’ you have to pay to live this amazing lifestyle is symbolic and relatively small. The only ‘investment’ you need to make consists of being relentlessly committed and dedicated to your studies and projects throughout the full duration of the program. From my personal experience, I can say that the willingness to enter this ‘psychological contract’ is something that takes place subconsciously from the moment you become part of this community of extraordinarily diverse and talented students from all over the world.

For all the work you undertake, it needs to be said at the same time that CEMS is by no means ‘all work and no play’. Thanks to the drive and creativity of the CEMS Clubs in Australia, Turkey and Spain, my time as a CEMSie was made all the more enriching through numerous activities and events organised by the respective clubs that allow students to see each country’s sights and sounds, taste its flavours, take part in its traditions and simply unwind at local parties. Within your group of friends, you also quickly forge spontaneous travel plans in the surrounding region of your exchange destination to visit places you would normally never dream of getting a stamp from in your passport. In my case, Hungary and Lebanon are now etched in one of my passport’s pages and serve as a future reminder of the unforgettable times I was lucky enough to have had as a CEMS student.

In summary, and as my CEMS experience sadly draws to a close in these final weeks in Barcelona, I already look back on my time as a CEMSie as one that was shaped by equal amounts of work and play, both providing me with valuable skills for my future career, but also blessing me with some of the happiest and thrilling moments of my life. Therefore, if there is one thing about CEMS that you can be sure of it is the fact that for every ounce of hard work you put into your projects and assignments, there will be an equal amount of excitement and adventure waiting around the corner.

This is, in my opinion, what made the challenge of managing the balance between work and life all the more worthwhile.

Author: Jan Wappler - CEMS student, Winner of University of Sydney Business School Master of Management Scholarship

Ignite Your Career 
Join the University of Sydney Business School for our Postgraduate Information Session to talk with our leading academics and learning support staff for detailed advice on postgraduate study options.
Date: Wednesday 9th May 2012
Time: 6-8pm
Venue: Establishment Hotel, 252 George Street, Sydney
Register now: http://bit.ly/IpiKgg

Unexpected Rewards

It’s not often you get the opportunity to seriously kick-start your future career while still engaged with postgraduate study.

Master of Commerce and Master of Logistics Management student - Amit Majumder

But thanks to the PG Industry Placement Program, that’s exactly what happened. It all started when I commenced my Master of Commerce and Master of Logistics Management last July. Having heard about the placement program early on, I decided to take a look at it and quickly heard about the types of great experiences and benefits that being part of it would entail. Believing that it would be a great way to establish the foundations of my future success, I decided to apply.

Thankfully I was accepted and was assigned to Computershare for a nine-week placement. While financial services wasn’t exactly the area I was looking to work in, I kept an open mind and decided to learn all I could. I wasn’t disappointed. The experience was both unique and invaluable, giving me a perspective of how things work in a large organisation and what it feels like to be a part of one. The placement also enabled me to apply my theoretical classroom knowledge via a series of academic tasks that involved analysing some of the issues actually facing the workplace I was assigned to.

In hindsight, getting the chance to work in an industry that I wasn’t quite familiar with was definitely one of the best aspects of the program. It expanded my horizons, opened new doors, and forced me to extend myself well beyond my comfort zone. But it gets even better than that. As a result of my placement I’ve been offered a permanent position with the company. My future career direction is now assured and I can’t wait to complete my studies next year.

It goes without saying that the program represents a fantastic opportunity and it’s something I’d definitely recommend to anyone with the chance to experience it.

Ignite Your Career
Join the University of Sydney Business School for our Postgraduate Information Session to talk with our leading academics and learning support staff for detailed advice on postgraduate study options.
Date: Wednesday 9th May 2012
Time: 6-8pm Establishment Hotel, 252 George Street, Sydney
Register now: http://bit.ly/IpiKgg

Unleashing The Entrepreneur Within

When it comes to the process of self-assessment, it’s only natural for us to examine the career paths of our peers and compare our own trajectory with theirs.

While it might work for most people, it’s a benchmarking model that any budding entrepreneur must studiously avoid. That’s because achieving success along the path less trodden requires an acceptance that things no longer progress according to a linear fashion. It requires a high degree of self-trust and an acknowledgement that the challenges will be significant.

Success also depends on being equipped with the necessary tools to turn vision into reality. That’s where my University of Sydney Masters of Commerce degree has proven invaluable. Undertaken in conjunction with a computer science degree back in 2000, the course enabled me to shift my thinking from a solely tech-based frame of reference to the area I was really interested in - commercial technology. In fact, there’s no doubt that the innovation subjects within my commerce degree were absolutely crucial in fuelling my desire to experience and experiment with entrepreneurship.

The lessons learned have proven vital, particularly when it came to establishing my latest start-up idea, Beat the Q. In this instance, inspiration struck when driving past my local café. There was a long line-up and I also had no cash, so I kept driving. As a result, the café owner missed out on a $10 sale and I missed out on my coffee. I quickly decided to develop a website and iPhone app that enables consumers to not only search for a coffee vendor, but also to pre-order and pay for their beverages. Current feedback suggests it’s proving to be an excellent timesaving convenience tool.

It’s no secret that I’m an absolute advocate for doing your own thing. Whether you’re looking to utilise your innovative potential within a small tech start-up or a large corporate, your inner entrepreneur is something that definitely needs to be fostered.

Author: Adam Theobald, CEO, Beat the Q Pty Ltd