How can Australia generate a $52 billion windfall from Science?

The Prime Minister , Albert Albanese is in full support  of helping to commercialise Australian science, with a focus on clean technologies and local manufacturing.

Upskilling Scientists to Commercialise their Inventions 

Science and Technology Australia (STA), a group representing more than 90,000 Australian scientists and technologists met at the National Jobs Summit this week . They believe that with Government  support there is an opportunity to generate tens of billions of dollars for the economy. 

At the symposium , the group believes that a  “modest investment” in training 2000 entrepreneurial or “bench to boardroom” scientists would generate a $52 billion economic windfall.

Keeping Manufacturing in Australia 

Albanese agreed and said the manufacturing bases of the companies capitalising on clean technologies like electric vehicles should be in Australia.

“We need to support the likes of Tritium, a Queensland electric vehicle fast charger company which this week opened a US manufacturing facility. These facilities should be in Australia “ says the Prime Minister 

“How amazing would it be if we can be seen to be an exporter of renewable energy.”

“There wouldn’t be a solar panel in the world that doesn’t have some intellectual property that was invented by an Australian scientist… and yet we haven’t commercialised that opportunity. We need to be better at it, and we’re determined to be better at it,” Mr Albanese said.

“We need to seize the opportunity which is there.”

Creation of Centres of Excellence 

STA president Professor Mark Hutchinson, 

from the University of Adelaide, and a director of the ARC Centre of Excellence for Nanoscale BioPhotonics, says that the centre has  created 16 startups with a combined market capitalisation and market value of nearly $520 million .

These centre of excellence should be rolled out , as that conservative level of success would not just create a wealth of new jobs for Australians, it would kickstart whole new industries and create an economy powered by science,” STA chief executive Misha Schubert told Startup Australia 

Government support in USA is huge - Australia should take note 

The USA is  supporting in American science, technology, research, manufacturing and education with the recent US CHIPS and Science Act investing a record $52 billion

“Australia should be every bit as ambitious for our science and technology ambitions,” Ms Schubert said.

The Prime Minister seems to agree . We look forward to action being taken in this sector

Onwards and upwards!

Source

https://www.linkedin.com/feed/update/urn:li:activity:6969775533635092480?utm_source=share&utm_medium=member_ios

McKinsey identifies 12 traits of a growth company that will outperform its competitors

Are you choosing  sustainable, inclusive, and profitable growth in your business? 

Do you know why you want to grow ?

Have you  got a solid mission , value prop for customers and stakeholders that feeds the story of the business? 

If you say yes to the above - This will attract attract talent, foster innovation, and create jobs.

Opportunities happen in downturns 

We seem to be in a downturn - and this is where the opportunities are to grow . 

My grandmother said to me - Ivan, When the tide goes out , peoples pants are down - and represents great pickings for solid companies and savvy buyers! 

Hewlett-Packard, Burger King, Hyatt Hotels, Microsoft, Uber,  Airbnb a and Google  were founded during economic downturns.

Buy low and sell high I say!!!

12 Traits of a growth Organisation 

• The team shows a behavior and a mindset of growth - with a risk appetite. Have clear targets, milestones, and motivators. Measure everything - what you can measure you can manage.     celebrate wins !!
• Have a culture that continually seeks out and pursues opportunities. Finding opportunity in tough times  and  innovate and acquire where others retreat and batten down the hatches
• Identify and understand  the needs and wants of valued customers, and developing the right value propositions to appeal to them. Give people what they want and you will get what you want!
• Be agile - having small, cross-functional teams with the autonomy to focus on rapidly building and testing products, features, or services with customers.
• M&A -  rapidly test and learn, fail and iterate, and invest in scaling opportunities. Know when to invest longer-term and commit before seeing returns but also   know when to call it quits. - tough Have a solid m and a plan - know what you are looking for and how you can lever the investment 
• Have the right People and the right team who continually scan for these types of alliances, joint ventures, and M&A opportunities. 
• Continue to invest in your people, creating a pipeline of talent - have a system to upskill and reskill them . People will be attracted to organisations that will enable them to be lifelong learners!
• Make sure that you are outstanding on what you do functionally and continually delight your customers .
• Have a solid operating model and be able to allocate resources to best opportunities required to achieve goals
• Building ecosystems around their core capabilities - create strategic alliances. Learn collaborate and grow together . The 5 Cs of our #bbgforum to build a strong community of connection collaboration contribution continuous and capability 
• Get Stakeholder buy in - as Clive Smallman says communicate communicate communicate communicate and communicate
• Invest in your core  but look for breakout opportunities that can  enable a long-term shift to a new core within a higher-growth market. 

The McKinsey article sites Tencent and AWS breakouts that were game changers 
Tencent, now worth $500 billion includes messaging, gaming, payments, e-commerce and advertising—in addition to evolving its social messaging app WeChat into an extensive “super app.” Tencent’s full ecosystem offering spans fintech, entertainment and media, cab hailing, location sharing, and more, fueling a revenue compound annual growth rate of 28 percent over the decade 2011 to 2021.

Amazon famously expanded beyond its e-commerce business into public cloud services through Amazon Web Services (AWS). By leveraging its core competencies of brand and commercial strength, it built AWS into a business that generated $62 billion revenue.

Inspired by McKinsey article authored by 

Michael Birshan is a senior partner in McKinsey’s London office, where Biljana Cvetanovski is a partner; Rebecca Doherty is a partner in the San Francisco office; Tjark Freundt is a senior partner in the Hamburg office; Andre Gaeta is an associate partner in the Sao Paulo office; Greg Kelly is a senior partner in the Atlanta office; Erik Roth is a senior partner in the Stamford office; Ishaan Seth and Jill Zucker are senior partners in the New York office.

The authors wish to thank Jaidit Brar, Luis Cerquiera, Vincent Cremers, Brian Gregg, Eric Hazan, Martin Hirt, Anna Koivuniemi, Pablo Leon, Duncan Miller, and Dennis Spillecke for their contributions to this article. And to the many McKinsey colleagues who contributed their industry expertise and perspectives to this research: Marco Aukofer, Matt Banholzer, Kurt Bazarewski, Dani Ebersole, Stephen Guerin, Tim Koller, Karin Löffler, Katherine Lovemore, Patrick McCurdy, Sakina Mehenni, Camille Meeùs, Bridget Morton, Michael Park, Tido Röder, Jeff Rudnicki, Manny Sasson, Balint Stellek, Marija Vukojevic, Qian Wan, and Michelle Wycoff.

Thanks Rob Nankervis for the share!!!!

Do we need to transform our education system?

Do we need to change the way we educate our children?

Do we need to transform the way we learn ?

Change is fixing the past ……

Transformation is creating the future 

Here is one of the funniest most profound  most brilliant Ted talks I have heard by Sir Ken Robinson as he questions whether we are killing creativity! 

Are we educating our kids out of creativity - to conform to how we have lived and how our parents lived - (we haven’t done such a good job?) 

Maybe we should start with a blank piece of paper? 

Maybe we should focus on what the child’s natural talent is - and start from there ? 

Maybe we should change our education struts to coach a child vs teach them things that we may not need ? 

Is creativity as important as literacy and math ? 

Is dance as important as math ?

Has our education system been designed to meet the needs of industrialisation?

Have we mined our minds for specific functions for industrialisation - like we have strip-mined the earth for a particular commodity ?

Is the teaching of values, being kind to your fellow man, looking  after the planet, dance, smelling the roses , playing the guitar - as important as maths, reading and writing ? 

Maybe Mark Prensky has a point? 

A transformation session of note with Claudia Perry-Beltrame

 

Here is a video of the  knowledge share 

Click here for the Slides 

some of the insights discussed  .....

- assessing transformation 

- supporting transformation 

- culture during transformation 

- L&D during transformation 

-  what levers need most attention - 

-importance of setting  goals for your team 

- Benefits of alignment during transformation 

- challenges in sharing decision making across level 

 #team #culture

Claudia Perry-Beltrame Mark Purbrick Bill McLellan Clive Smallman Chris Flavell Cassandra Parton Robert Nankervis Chris Flavell

1d

Here are some of the cultural traits you need for a Transformaton 

Chris Flavell insights - the power of the 8 characteristics, culture traits and values - each has a part to play in the transformation.
#integrative - creative synergy
#systemic - agility and diversity of thought
#equality - empathy and understanding
#Achievement - innovation, fast, results
#duty Stability and structure - planning, systems control
#Power - visible rewards, courage, honesty , energy,passion
#Relational - respect, past is honoured and trusted - as a base to plan the future!

                      

                            Cashflow is fundamental to implement a succesful transformation

Mark Purbrick unpacking his thinktank 

A powerful thinktank led by Mark Purbrick - don't make the transformation too complex - make sure it aligns to values of organisationand team - Toni Wynne loved the methodology .... Wayne Larkin the importance of measuring results against original objectives and clebrating wins ...... Mike Lurie make sure that the objectives are agreed up front .... Lorenzo A. Nuti align values to the transformation

Bill Mclellan unpacking his thinktank

A powerfull #thinktank facilitated by Bill McLellan - magic happenning My head hurts as my mind contends with powerful learning and actionable insights including the difference between:

Change vs Transformation.

Thank you Claudia Perry-Beltrame for sharing a robust framework and your experience leading transformation programs globally.

Well chaired Ivan Kaye and a call out to the nuggets from the think tanks.

Very pleased to see some familiar faces and some new ones too, thank you for attending. For those that couldn't make it reach out and let's see what we can arrange for you.
#whycubed #transformationalleadership #advisoryboards

               Ayon Bhattacharyya unpacking his thinktank

Ayon - the. importance of cash flow as part of the recipe 

Transformation takes time .... and starts from the top 

Clive Smallman  unpacking his thinktank

Pushback is natural 

Transformation takes time 

Its about the symbols that the leaders convey 

There are the 4 Cs of Transformation 

Communication Communication Communication and Communication 

Awais Arif (CISSP, CRISC, LSSBB, PMP, CSM, ITIL) The issue in most transformation is that there is a disconnect between management and the people they are planning to apply transformation to. Getting those teams engaged earlier in the transformation stage is the key to success.

Awais Arif (CISSP, CRISC, LSSBB, PMP, CSM, ITIL) Transformation is not possible without internal teams understanding why we are doing it and gaining their support as we transform.

these are the key essentails you need ot make an effective #transformation happen

Rohan Dhowan how to do a transformation project if you are an SME - you need to focus on the project ... you need to have the allocation of cash to do the transformation... what are the quick wins? ... the average SME focusses on survival day to day... need discipline and allocation of time to work on a transformation... if done right exponential returns

Natalie Ranki-Goldman you need to know WHY you are doing this transformation.... ideally you need to know why the business exists? In order to bring people along the journey of change and transformation, your people not only need to know the goal but also why. Why are they going to go through the pain, what is the purpose and what is the ideal outcome. This, together with effective communication throughout the process enables a more effective transformational cultural change. Thank you to Claudia Perry-Beltrame and fellow BBG Forum members for a GREAT session!

Martin Conboy sharing his golf analogy and transformation... gold ...

Best way to play the course - course management !!

Closing comments by Claudia... a classic of note  - holy moly !!