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ISSUE 11 AUGUST 2013 Featuring WIT & CIMA host seminar on Entrepreneurship

Irish Academy of Management Conference

Finance students visit Central Bank and Realex Payments

NEWS & UPDATES FROM WIT GRADUATE BUSINESS

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Message from Head of Graduate Business

Welcome to our summer edition of the Edge newsletter which as you will note has changed format to allow us to better communicate with our alumni and with businesses within our community. As you will learn from the news and updates included, our school continues to grow and develop, offering new and exciting programmes for full-time and mature students. We are honoured this September to be hosting the National Academy of Management conference at WIT and we look forward to welcoming delegates to Waterford in early September. We also extend a warm welcome to our new group of DBA (Doctorate in Business Administration) students who joined us in June and we wish them well with their studies. I hope you are enjoying your summer break and all of our best wishes to those of you submitting research papers and theses. We trust the year has been an enjoyable and worthwhile one for you and we look forward to keeping in touch with you. You can follow our activities on Facebook and through our regular updates on the WIT School homepage.

Best wishes Dr Denis Harrington

CONTENTS •W  elcome

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• WIT & CIMA host seminar on Entrepreneurship 2 • Institute Awards for Faculty Members

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• Graduate Business Society Conference Event 2 • WIT School of Business to host Irish Academy of Management Conference

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• Finance students visit to Central Bank

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• Graduate Business International Study Tour to Leuven and Brussels March 2013

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• School of Business host International Negotiations programme with France Business School

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• School representation at the International Financial Services Conference, Hamburg

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• Inaugural Lean Management Practice Forum hosted by School of Business

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NEWS & UPDATES FROM WIT GRADUATE BUSINESS

WIT and CIMA (South East) host seminar on Entrepreneurship

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This semester a keynote presentation on Entrepreneurship was hosted by the South East Branch of the Chartered Institute of Management Accountants in WIT. The presentation was given by Susan Hayes, ‘The Positive Economist’ and was provided for all postgraduate students and final year degree candidates in business. Susan is Managing Director of Hayes Culleton and she manages her own portfolio, with an emphasis on Exchange Traded Funds, Value Stocks and Writing Options. Susan was a finalist at Enterprise Europe Network Rising Star Awards in 2011. She is a financial trainer for the Irish Times and is a regular contributor to radio and TV on financial and economic matters. In her address, she provided students with concrete, actionable tips to improve their confidence to embrace entrepreneurial opportunities. She encouraged students to have a realistic look at the economy, and to take advantage of opportunities as they arise. Susan has recently published her second book entitled ‘The Savvy Woman’s guide to Financial Freedom’ and is also a columnist for the Sunday Times.

Institute Awards for Faculty Members

Our congratulations are extended to Mr Darrin Taylor and Ms Mabel McManus on winning the Annual Institute Innovation Award for 2012 for their work on the ‘School of Business Orientation Day Project’. We would also like to congratulate Dr Felicity Kelliher on her award for Research Supervision Excellence. Further details are included below:

Innovation Award

‘School of Business Orientation Day Project’ Mr Darrin Taylor and Ms Mabel MacManus, Department of Management and Organisation & Department of Accountancy and Economics School of Business

Research Supervision Excellence Award Dr Felicity Kelliher, Department of Management and Organisation School of Business If you would like to send us updates or news items for inclusion in the Edge Newsletter, please send to graduatebusiness@wit.ie or alternatively contact our Graduate Business Office on Tel: 051 302424. –2–

Ms Susan Hayes, author and business commentator speaking at the recent WIT-CIMA seminar event.

Graduate Business Society Conference Event The Graduate Business Society hosted a very successful conference event in February which focused on the convergence of traditional business methods and operations with existing and emerging technologies. The education conference provided students and invited guests an insight into how companies can embrace technology to grow their business in these challenging times. Keynote speakers included Colin Browne, EMEA Operations Director, Microsoft, Sean Molloy, CIO, Glanbia and Dr Mícheál Ó Foghlú, CTO, FeedHenry. In June the GBS hosted their annual Graduate Business ball which again proved be a great social and networking event for all. These events help to foster a spirit of collaboration and community by providing students with opportunities to discuss their experiences with other graduates and with past students who continue to contribute to the society. Our thanks to the outgoing President Richard McDonald and all the committee members for their contributions during the academic year and we look forward to supporting the society again in its work for 2013-14. Further information is available at the School of Business page at www.wit.ie


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NEWS & UPDATES FROM WIT GRADUATE BUSINESS

WIT School of Business to host Irish Academy of Management Conference In September, the School of Business has the privilege of hosting the 16th Annual Irish Academy of Management Conference at our main campus from September 2nd to 4th 2013. The theme of this year’s conference is the Scholarship of Integration: Engaging Communities of Learning and Practice and keynote speakers include Professor Anne Cunnliffe, Leeds University Business School, Professor Charles Wankel, St. John’s University, New York, and Professor Thomas Lawton, Tuck School of Business, Dartmouth. As part of the Conference, the School will be hosting an ‘Excellence in Practice’ Breakfast Assembly on Wednesday September 4th from 8.30am to 10.00am at the Tourism and Leisure Building, Waterford Institute of Technology.

Panel members include: Sam McCauley (CEO McCauley Chemist), Cathriona Hallahan (MD Microsoft Ireland), Maeve O’Connell (MBAAI President), Michael Veale (CEO of Buy4Now) and Prof. Willie Donnelly (Head of Research, WIT and FounderDirector of TSSG). The session will be chaired by Prof. Brian Fynes of UCD, and the focus is on guiding principles for academic-practice projects and partnerships. The conference director is Dr Felicity Kelliher and details of the event are available at: iamireland.ie/annualconference/2013-annual-conference

Finance students visit Central Bank and Realex Payments The School launched the new Masters of Science in Global Financial Information Systems (GFIS) in September 2012. The programme was developed in response to demand from the Financial Services industry, for hybrid finance-technology graduates with a specific focus on the application of ICT to financial services. Developed in conjunction with a number of financial services companies from Ireland and the UK, the objective of the programme is to enable high calibre graduates to rapidly develop quantitative, analytical, and ICT skills and experience, embedded in a comprehensive knowledge and understanding of financial services. Interaction, engagement and knowledge exchange with industry is integral to the programme. Participants have the opportunity to learn from, and engage with CEOs

and senior executives from the financial services and ICT industries, through a WIT hosted Graduate Business Seminar Series. During the 2012-2013 term, participants also visited the headquarters of several leading financial service organisations, for information sessions and discussions including the Irish Central Bank (February), Realex Payments (March) and PayPal (April). Our strong engagement with industry representatives in designing the content, delivery mechanism, and assessment and learning methodologies for the programme ensures graduates have the required knowledge and practical skillset for rapid employment in the financial services sector.

Students on the MSc Global Financial Information Systems programme pictured with their Programme Director, Dr Aidan Duane, during recent study visits to Realex Payments and to the Central Bank.

For further information contact Dr Aidan Duane, Programme Director, MSc GFIS at aduane@wit.ie –3–


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NEWS & UPDATES FROM WIT GRADUATE BUSINESS

Graduate Business International Study Tour to Leuven and Brussels March 2013 The warmth of the weather was a happy change from the fog, snow and ice of previous Graduate Business study tours to Belgium, and such warmth was also reflective of the welcome extended to some fifty masters students who participated in the week long programme of academic seminars, site visits and meetings with politicians, government officials and business representatives at a hugely historic time for Ireland and Irish business. This year sees both the 40th anniversary of Irish accession to the European Union and the 7th hosting of the Presidency of the EU, at a time of unprecedented challenge and opportunity for Irish business after the travails of recent years. However, every crisis can be seen as a learning opportunity and the range of marketing, management, HR, accounting, economics and finance students grasped that opportunity with aplomb over an intense but enjoyable week of activities. Staying in the historic, 400 year old but fantastically refurbished surrounds of the Leuven Institute for Ireland in Europe – recently opened by An Taoiseach Enda Kenny – the group enjoyed the student friendly environs of Leuven where students outnumber the local population during the academic year. Drawing on the top-ranked academic faculty of the Katholieke University and the research body, European Trade Institute, the students engaged with senior academics across a range of disciplines, incorporating much of their learning into their innovative, cross-disciplinary on-site assessment. In addition, the students heard from some top practitioners including a senior loan officer from the European Investment Bank and the Global People Manager of ABInbev before embarking on their site visit to ABInbev. Much of Ireland’s current and future economic well-being will be decided in the corridors of the EU’s institutions and therefore it was an opportune time for the students to intact with two MEPs – Sean Kelly of Fine Gael and Liam Aylward of Fianna Fail – for an –4–

overview of the current situation. The officials who are charged with negotiating the intricacies of EU business policy were hugely generous in their hosting of the group to discuss a range of matters and to facilitate meetings with IBEC and EU Ombudsman representatives. The experience for many of the students will hopefully add an extra dimension to their range of skills as they seek to put Ireland back on the right direction through their enthusiasm and entrepreneurship. WIT School of Business is dedicated to providing unique and innovative learning experiences to our students and the International Study Programme is a continuing element in that strategic goal. For further information please contact Tour Coordinators, Dr Sheila O’Donohoe at sodonohoe@wit.ie or Mr Gerard Arthurs at garthurs@wit.ie

One of the many sites to see in Brussels

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This year sees both the

th

anniversary of Irish accession to the European Union and the

th hosting of the

EU Presidency of


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NEWS & UPDATES FROM WIT GRADUATE BUSINESS

School of Business host International Negotiations programme with France Business School

Irish and French postgraduate business students photographed with their lecturers Mr Declan Cahill, WIT School of Business and Dr Gaëlle Ulvoas, France Business School, during the week-long programme on International Negotiations.

The MBS Internationalisation (MBSI) students at WIT School of Business recently spent one week studying at WIT with the Master of International Business students (MIB) from France Business School as part of the MBSI-MIB double degree programme. The focus of the week was International Business Negotiation. Dr Gaëlle Ulvoas (France Business School) approached the topic with a strong professional and applied focus, including numerous case studies and role-plays in her teaching. The MBSI-MIB group included students of ten different nationalities, thus creating a perfect multicultural context for this international topic. The final exam’s focus was on a business negotiation case at an advanced level - negotiating a national partnership agreement with a large client account. As part of the international study programme, the French and Irish students also participated in study visits to local

companies including Dungarvan Brewing Company, Waterford Crystal and Hartys Oysters Farm in Ring, Co. Waterford. The advent of the double degree programme provides significant benefits for the Irish student cohort. The new programme provides enhanced learning opportunities for students and exposes them to alternate teaching and learning environments. It also contributes to the development of business and educational networks between France and Ireland. Commenting on the recent visit from France Business School, Mr Declan Cahill, Programme Director, MBSI commented: “This new programme will benefit graduates looking for a career in international business and will also be of interest to employees of entrepreneurial organisations and to those setting up new ventures in knowledge-based or high technology industries.”

The innovative model incorporating learning and case-led discussions will have strong appeal to those interested in critically investigating the global market place of business and entrepreneurship. MBSI Melanie Morrissey from WIT and Warda El Rhatas from FBS were awarded an Excellence in International Business Negotiation Award for their ability to demonstrate not only excellent negotiator skills, but also to integrate cultural differences while negotiating with a foreign partner. For further details on the MBS Internationalisation programme please contact Mr Declan Cahill, Programme Director at dcahill@wit.ie

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NEWS & UPDATES FROM WIT GRADUATE BUSINESS

School representation at the International Financial Services Conference, Hamburg In Hamburg on 6th and 7th June, the Institute of Financial Services (iff) and the University of Hamburg, in conjunction with the European Coalition for Responsible Credit, hosted its 8th financial services conference. This year the theme was: ‘Are we on the road to needs oriented products?’. The attendees included academics, bankers, insurers, investment managers, financial regulators, consumer groups and other non-governmental agencies active in the field of consumer advocacy. The conference provided a forum for the exchange of ideas and dialogue regarding national and international issues in retail markets for financial services. A panel chaired by Sebastien ClercRenaud (iff) examined financial advice and education. John Maher, lecturer in financial services in WIT Business School was a key contributor to this panel. Other speakers included Mark Flander (UK Money Advice Services), Dr Maria Cristina, Portugal (Lawyer and Consumer Advocate in Portugal), Professor Zsolt

Hajnal (University of Debrecen, Hungary) and Boštan Krisper (Slovenia Consumers Association). The panel discussed the education, training, information, advice, the sources and provision of these elements across sectors and in each national jurisdiction. They examined the challenges that exist in securing consumer interests. They reviewed the lessons that have been learned both from the financial services sector and from other sectors where consumers’ interests have not been well served. They assessed the requirements in markets for consumers to fulfil their needs within appropriately defined and properly communicated parameters over the life of individual consumers. The evolving legal framework was discussed, together with the advocacy spectrum from prevention through to problem resolution. Contributors noted the significance of timing of market interventions in support of consumers in order to optimise the associated consumer benefits. In the context of the public policy goal of obtaining a positive impact for as many

consumers as possible, the choice of channels and instruments was considered important. Concepts from behavioural economics were referenced as having relevance for consumers. It was suggested that consumers should be treated as they are and how they behave in real life, and not in accordance with a rational ideal that ignores the sentient nature of humanity and the complex process of sense making in financial decisions. Other matters covered at the conference included bankruptcy law, commission bans with respect to the sale of financial products, European models of private old age pensions, and the role of consumer protection in the field of financial supervision. For further details, please contact Mr John Maher, Lecturer in Financial Services, Department of Accounting and Economics at jmaher@wit.ie

Mr John Maher, Lecturer in Financial Services, WIT School of Business, speaking at the International Financial Services Conference, Hamburg in June.

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NEWS & UPDATES FROM WIT GRADUATE BUSINESS

Inaugural Lean Management Practice Forum hosted by School of Business The School of Business recently hosted an inaugural seminar examining contemporary lean management practices in an Irish business context. The event was co-hosted by the Irish Centre for Business Excellence and the South East Lean Forum with involvement from key exemplars from the South East region including Lake Region Medical, Hasbro Ireland Genzyme – A Sanofi Company and DePuy (Johnson & Johnson) and EMC in Cork.

provide professional development and postgraduate learning opportunities for executives across the South East region. Flexibly delivered and focusing on the successful Lean philosophy, the programme will explore mechanisms for improving the operations of a business through initiatives, projects and a quality focus. The programme is supported by IBEC as well as key companies in the South East and is designed with strong industry input.

Dr Pio Fenton, Programme Director, MBS Lean Practice, announcing the launch of the seminar commented “This was an opportunity for those working in a variety of industries to see the positive impact of good practice. There has been such doom and gloom recently that it may have been easy to miss the fact that there are a number of expanding businesses in the region. Much of the growth fueling the expansion has emanated from the adoption of lean practices.”

This programme will run from September and complement the suite of postgraduate courses that are available for companies within the School of Business at WIT.

Keynote speaker, Richard Alloo, formerly of the Toyota corporation, highlighted the fact that culture and leadership were key elements of successful lean journeys. He emphasised that attitude is more important than tools when developing success.

Further details on the programme are available from the School website www.wit.ie or alternatively contact Ms Eileen Sinnott at esinnott@wit.ie

Keynote speaker Richard Alloo, formerly of the Toyota corporation, pictured with faculty members Dr Pio Fenton, Mr Darrin Taylor and Mr Aidan Walsh.

Delegates at the recent Lean Management event at WIT.

Addressing the seminar Dr Denis Harrington, Head of Graduate Business commented: “The seminar was initiated to help disseminate the interesting and often very positive developments in lean practice that are taking place in companies across the South East region. The initiative is also part of our regional engagement strategy providing an opportunity for the exchange of ideas and knowledge, allowing us to connect our work with the pressing requirements of businesses in our region.” The School of Business also announced the launch of a new MBS in Lean Practice programme which will

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The edge issue 11