Leadership in the Age of Purpose QANTAS_AGSM_FINAL
BROUGHT TO YOU BY AGSM @ UNSW BUSINESS SCHOOL
LEADERSHIP
IN THE AGE
OF PURPOSE
In the wake of the Royal Commission into Misconduct in the Banking,
Superannuation and Financial Services Industry, a new level of ethics and
transparency is expected of organisations. Meanwhile, digital disruption
continues to accelerate, creating myriad opportunities and challenges for
business. An MBA from AGSM @ UNSW Business School equips leaders with
the skills to navigate this fast-shifting landscape with confidence and creativity.
hether they work for startups or
established players, government
or not-for-profits, contemporary
leaders simply need to be more:
more progressive, more resilient,
more collaborative and more
prepared to exhibit an adaptive mindset.
Add to all of that operating with much higher
standards. “The royal commission showed what
happens when there’s a failure to create a culture
where ethical decisions are ingrained in the
business model,” says Professor Nick Wailes,
director of the Australian Graduate School of
Management (AGSM) and deputy dean of
UNSW Business School. “We saw how important
stewardship is to sustain an organisation and at
the same time we know that leaders are facing
greater complexity and acceleration of change.”
Preparing leaders to rise to these numerous
challenges requires a multifaceted approach.
“To be commercially successful, you’ve got to
cover off a lot more bases and think much more
broadly about the complex ecosystem in which
you’re operating,” explains Wailes. “For example,
if you’re selling to customers, you have to
consider how your products are depicted on
social media – that can impact the value of
your product.”
Moral values are also high on the agenda. “A
generation ago, we only expected companies to
make goods and services and sell them; the idea
that you would have asked a bank or consumer
goods company to talk about its values would
have been strange,” says Pamela Hanrahan,
professor of commercial law and regulation
at UNSW Business School. “Today, society
demands companies make statements about
their values, corporate governance, code of
ethics and social issues – it’s another challenge
of this century.”
Social media puts any hypocrisy in the
crosshairs of public scrutiny. “The biggest
difference I’ve seen over the past decade is that
individuals or groups have an instant platform
to call out inauthenticity,” says Hanrahan, who
warns that a trust gap can quickly turn into a
chasm. “It matters less what the purpose of the
corporation is said to be than making sure that
whatever you say, you stick to it. The community
has a broad tolerance for a range of views and
activities but it has no patience for people who
say one thing and do the opposite.”
Adds Wailes, “Modern leaders must be really
attuned to all of these things for their business
to be successful today and in the long term.”
agsm.edu.au/mba