Knowledge@Australian School of Business - Video Interviews

A two-year study into the services sector – where 85% of employed Australians now work – shows intangible factors, such as progressive leadership, the employee experience and innovation, may have a far greater impact on an organisation's profitability than old-school number crunching, cost-cutting and capital considerations. As manufacturing dwindles in significance, a shift in focus to intangible attributes presents the new way forward for employers. Now the federal government-funded research project – led by Christina Boedker of the Australian School of Business –  is moving into phase two to develop intervention strategies to find effective ways to improve productivity, a field in which Australia is leading the way.

Sources of innovation have exploded over the past decade as companies no longer look internally for bright ideas but also tap into the public's smarts via the Internet. The possibilities are seemingly infinite, so pinning down exactly which next new things to develop requires a clear understanding of the big picture. Patrick Medley, managing partner of Global Consumer Products at IBM Business Services, identifies three game-changing trends coming from the evolution of smart phones – the gadget of the future – and cloud computing. It's early days yet, but could the days of the PC really be numbered?

The cost of the devastation from Australia's recent natural disasters is still being counted. Floods in Victoria and severe storms on both sides of the country, along with the earthquake damage in New Zealand, have impacted on the lives of thousands. Strangely enough, these events often occur in clusters which means insurers are also hard hit. But, these days insurance companies can transfer their risk to the capital markets through catastrophe bonds. With these relatively new assets increasing in popularity, Julian Lorkin of Knowledge@Australian School of Business asks Morton Lane, head of the financial engineering program at the University of Illinois, about insurers' latest means of passing on risk.

Entrepreneur and innovator Michael Crouch, chairman and CEO of Zip Industries, once saw a big opportunity in a small white box with red taps. By fostering an innovative spirit and daring to be different, his business created the world's first instant boiling water system. Today Zip water heaters are in service in the royal household in Buckingham Palace and numerous offices and factories across the globe. Innovation – as an ongoing process and vital mindset within organizations – has become Crouch's driving passion. In an interview with Knowledge@Australian School of Business, he outlines how it could apply heat to Australia's tepid productivity record.

From video games to remote surgery, virtual possibilities abound. In workplaces, distributed teams and simulations are considered smart productivity-enhancing ways of tapping into new technologies. However, the virtual world needs a reality check, argues Stanford University's Stephen Barley, an expert in the impact of new technologies at work. Cutting edge it may be, but virtuality is not directly reducing costs for business, instead it's increasing accuracy and accelerating turnaround times. At an Australian School of Business seminar, Barley outlined the upsides – and downsides – of succumbing to the lure of the virtual.

It's a year since the release of the report on Australia's Future Tax System Review, headed by recently retired Treasury chief Ken Henry. The review was just the start of the Labor Party fulfilling its election promise of a "root and branch" overhaul of taxation. But one year on, not many of the review's 138 recommendations – including a resources rent tax, a 5% cut in company tax and a leap in the personal tax threshold – have been enacted. However, review panel member, John Piggott, an economics professor at the Australian School of Business, says there are positive early signs of change, and several decades for reform.

Australia's superannuation savings may be the envy of the world with A$1.23 trillion now in the pot to help its ageing population live more comfortably in retirement. But Australia's approach to retirement saving is only half right, according to David Blake of the UK's Pensions Institute, who spoke at a recent Australian School of Business conference on longevity risk. Substantial super savings may have helped the nation to weather the financial crisis, but they will not go the distance as people live increasingly longer lives. It's time for Aussies to hedge their risks, and annuities are the way to go.

The latest novel push by authorities to bring more international tourists to Australian shores seems oddly timed. With the Australian dollar running at record highs, some suspect it will backfire. However, Larry Dwyer, a professor of marketing at the Australian School of Business, anticipates the opposite may happen. The new marketing drive may raise the consciousness of locals to the appeal of holidaying closer to home and, with domestic holidays accounting for 75% of tourism down under, this may be just the boost the industry needs. But this is no time for complacency, Dwyer cautions. Australia must look beyond its traditional attractions and focus on promoting a range of valued experiences for travellers.

Many of the world’s economies are still struggling to recover from the global financial crisis. The threat of a crisis Mark II is not out of the question, though it’s unlikely, says Anne Krueger, a former chief economist of the World Bank, and first deputy managing director of the International Monetary Fund from 2001 to 2006. Speaking at an Australian School of Business forum on global competitiveness, Krueger evaluates efforts to untangle the aftermath of the crisis and determines that there has been too little action, too late.

Australia, with its sound and well-managed financial system, stands to reap significant benefits from the economic growth in Asia. But a key question remains: how should Australia position itself in the Asian century? Reaching a consensus on this is crucial, according to Masahiko Takeda, deputy director of the International Monetary Fund in the Asia Pacific, and the fund’s division chief, Cheng Hoon Lim. The IMF experts acknowledge that the Aussie dollar is presently overvalued. Nonetheless, at a recent University of New South Wales forum, they insisted that there are plenty of potential opportunities for Australia in the Asian region.

Macquarie Group has surplus capital on the balance sheet and continues to seek businesses which meet its acquisition criteria, as chief executive Nicholas Moore highlighted at the annualgeneral meeting of Australia's only listed investment bank in July. In the wake of the financial crisis, the group made successful acquisitions in funds management but – with its sharp eye on shareholder value and the risk-return equation – finds quality assets are in short supply. Volatile times may have impacted the home-grown financial giant, which now operates in 28 countries, but as Moore explains in an exclusive interview with Knowledge@Australian School of Business, Macquarie's risk management framework has served it well through a range of market cycles.

Despite signs of a dramatic slowdown in Asia, HSBC – one of the world's largest banks and the world's second largest public company by market capitalisation – is bullish on the long-term future of the region. Australian companies are already leveraging the economic growth of Asia, and Paulo Maia, chief executive of HSBC Australia, predicts there will be plenty more opportunities in the Asian century. He's looking beyond China and India to the growth markets of Malaysia, Indonesia, Vietnam and the Philippines and to a truly global world where foreign exchange will play a crucial role with even very small businesses trading in multiple currencies.

Only about 2.5 million individuals directly use the Australian Taxation Office's online e-tax facility, while a further 9 million now file online via tax agents, which means forking out for the extra compliance costs. A mere half a million use the old paper method. Commissioner of Taxation Michael D'Ascenzo well recalls the initial hue and cry about "big brother watching" when the returns went online in 2007. Regardless of delivery mode, research shows most Australians "don't mind" filing an annual tax return, he says. Mainly because about 80% of the nation's personal taxpayers get a refund.

Electric and biofuel-powered cars offer solutions for a carbon-constrained world, but has early excitement about alternative fuel vehicles fizzled prior to the July 1 start date for Australia's carbon tax? Before the rubber really hits the road and hybrids and "plug-in" cars become mainstream, there’s still a myriad of issues to be addressed. Infrastructure is one, while research shows some biofuels may generate more problems than they solve. The shift to alternative fuel cars must come, says John Sterman, the Michael J Crouch Visiting Professor at the Australian School of Business, along with many other alternative modes of transport.

A unique concept and dogged persistence have made Paul Cave one of Australia's most celebrated entrepreneurs. Thanks to his tenacity, millions now have climbed the iconic Sydney Harbour Bridge to enjoy the awe-inspiring view from the top of one of the world's most famous landmarks. Establishing BridgeClimb took the experienced businessman and his partners nine years, dealing with numerous government bodies, community groups and experts on safety, logistics, media and heritage. In an exclusive interview for Knowledge@Australian School of Business, Cave tells how he remained sure-footed along the way. Undeterred, he's planning similar ventures offshore.

The three Ps – population, (workforce) participation and productivity – are inextricably linked to Australia's future prosperity and standard of living. National productivity levels are under threat as the population ages. As baby boomers retire, the changing demographics will have a profound impact on workforce participation levels. Immigration is considered one quick fix to the workforce participation problem, but it's contentious. And with the rules about to change to streamline the process for bringing skilled migrants into Australia, it's an ongoing topic of hot debate. Demographer Peter McDonald, deputy director of the ARC Centre of Excellence for Population Ageing Research, suggests skilled migration is one ready way to keep growing the economy and may also increase wages for lower-skilled workers. While keeping older Australians engaged in the workforce remains key, McDonald tells Julian Lorkin of Knowledge@Australian School of Business, an important part of boosting productivity also involves improving infrastructure to ensure international competitiveness.

Treasury chief Martin Parkinson's recent announcement that Australia's top economic agency would adopt a long-term target of making 40% of senior executives women was big news, but perhaps not before time. The movement of women into top leadership roles in Australian organisations has been excruciatingly slow. And there's no single silver bullet solution, insists outspoken blogger Jen Dalitz, the globally recognised SheEO of gender balance consultancy sphinxx. To mark International Women's Day, Dalitz – who advises and mentors leadership teams at many of Australia's largest companies – explores some of the controversial equalising issues, including quotas and mandatory reporting, and the undermining proliferation of unconscious bias.

Geoff Harcourt is perhaps one of Australia’s most well known economists.

A Cambridge pupil of John Maynard Keynes, he is best known for his role in Cambridge Controversies in the Theory of Capital. This was the theoretical and mathematical debate that raged during the 1960s among economists concerning the role and nature of capital goods (also known as the means of production) and the critique of the dominant vision of aggregate production and distribution (held to be the neoclassical model).

In the half-century since he has developed his own suite of post-Keynesian models, and on the occasion of his 80th birthday a conference in his honour was held looking at “The Future of Capitalism”.

Here, he talks to Julian Lorkin about the academic path that lead him to develop the Cambridge Controversies, his life & career in Economics.

Is the seemingly powerful G20 all talk and no action? With no executive power to deliver on policies, the impressive group of 20 developed and developing countries relies on its members to follow through at a national level. Although the group was not close to finding an urgently needed solution for bailing out indebted European nations at its recent Cannes meeting, help may be provided voluntarily. Clearly, global financial architecture needs a rethink, says Fariborz Moshirian, a professor of finance at the Australian School of Business. He calls for a mechanism that obliges G20 member nations to enshrine internationally agreed policies in law.

Tim Harcourt spent years traversing the globe in pursuit of opportunities for industry as the chief economist at Australia's trade marketing organisation, Austrade. Now "the airport economist" has landed as the newly appointed JW Neville Fellow in Economics at the Australian School of Business, bringing a unique perspective on Australia's place in the global economy. The lucky country has often created its own luck, and fears of Australia's over-dependence on China are unfounded, suggests Harcourt. He foresees an export future beyond "rocks and crops" in far-flung markets across Africa, Latin America and the Middle East. Stand by.