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Creating Generational Legacies

Thursday, May 7, 2015

Playing to our Strengths

Catherine Livingstone talks to Tony Malkovich on The need for a 10 year plan

Australia needs to focus on building an implementing a 10 year plan - to take advantage of the enormous opportunities that are on offer says President of the Business Council of Australia -  Catherine Livingstone

4 Focus Points 
We need to focus on the following:- 
1. Shore up free trade agreements 
2. Improving our competitiveness
3. Reigning in the budget deficit (not sure about this one?)
4. Focus on Entrepreneurship and Innovaton 

3 mega trends 
3 mega trends are happening over the next 10 years in Australia that we need to focus on:- 

1. Ageing population
2. Globalisation 
3. All pervasive digital technology in our business and lives 

5 Growth Areas
AUSTRALIA has identified 5 areas in its industry growth centre initiative
1. Advanced manufacturing
2. Food and agribusiness
3. Medical technologies and pharma
4. Mining equipment technology and services
5. Oil , gas and resources 

Where government will encourage deregulation, skills, collaboration and commercialisation.

Capability
We need to expand VET (vocational education and training ) to upskill the workforce . There is a serious skills gap at the moment due to lack of funding - this needs to be addressed.

Innovation
Risk taking , entrepreneurship and innovation  should be encouraged , supported and invested in.
The way we do things now is completely different to what they will be in the future. Current jobs will be made redundant through robotics and new jobs will emerge. We need to be ready to embrace this change.


Collaborative  infrastructure
Needs to be developed and nurtured . 

We need to roll up our sleeves , rethink and reshape our economy - the future wealth and wellbeing is dependent on it! 

About Catherine Livingstone 
Catherine Livingstone is a Chartered Accountant , former CEO of Cochlear and a former chair of CSIRO. She is currently the Chair of Telstra and a Director of Worley Parsons . Catherine is the president of the Business Council of Australia, and in 2008, was awarded an OA for her services for the development of Australian science, technology and innovation to business 
 

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