Institution: Zurich School of Management (Switzerland)
Course: International Marketing & Strategy Program
Industry Leaders Fund – Investing in South Australian Leaders
As a passionate South Australian, the Industry Leaders Fund (ILF) values and ethos align very closely with my own. In particular, the importance of developing individuals with leadership potential to help drive greater growth and economic prosperity within South Australia. It is a fantastic initiative, and I am grateful to the original founders for their foresight to establish the ILF, those who have continued to build upon its legacy, and those who will continue to ensure the ILF’s success in the future.
I became aware of the ILF through a previous scholar who commented how transformative it had been for them and recommended that I apply. As a lifelong learner, I was eager to put my hat in the ring to further my professional development and help deliver meaningful growth for South Australia. The opportunity to be surrounded by experienced South Australia leaders through the Industry Leaders Fund Scholars Network (ILFSN) was also a key motivator for my application.
Professional Development Course Selection
Working at a rapidly growing Defence Technology start-up, it became evident that we would soon need to expand beyond the South Australian ecosystem. With game-changing technology in the pipeline, it was the perfect time to begin commercialising and exporting our intellectual property to support further growth. Marketing and strategy would play a fundamental role to successfully expand beyond our local customers into new national and international markets.
After reviewing many courses, I decided to select the International Marketing and Strategy Program offered by Zürich School of Management. Although a different choice to many Scholars, I felt that it would provide the greatest benefit for myself, my employer and the South Australian community. Largely because I didn’t have any formal marketing training, despite having tertiary qualifications in law, science and psychology. Successfully applying for the ILF scholarship was very timely, as my ILF Stage 2 interview occurred the morning our company launched a world first technology.
International Marketing and Strategy Program
I was fortunate to receive a partial scholarship from the ILF to attend the International Marketing and Strategy Program. It was a two-part program:
- Part 1 – International Marketing (Hamburg, Germany)
- Part 2 – Strategic Management (Boston, United States)
Hence, the first week was held in Germany, followed by a second week in the USA a month later. This emphasised the course’s global focus, as international market and customer considerations were entwined with a broader strategic focus of achieving growth and increasing profitability.
Undertaking a two-part program in distinct geographies meant that I could reflect on the lessons learned from the first week when I returned to South Australia, implement key learnings, and then identify new questions to raise during the second week. I was lucky to attend my course in 2019 before the pandemic outbreak.
Key Learnings and Experience
The course was comprised of an intimate cohort of heavy hitters from around the globe. I was clearly the youngest and least experienced participant in the room, which was fantastic because it meant I could ask many questions and had nothing to prove.
Something that struck me was the reluctance of some participants to be vulnerable and admit when they didn’t know something, particularly at the beginning. However, with time, they began to open up which led to great conversations and insights. What I took away from that experience was that someone needs to take the first vulnerability step and that others will usually follow, often leading to far better outcomes for all involved.
Preparing the night before class meant that we could make the most of the case study lessons during the day. This was supported by several offsite excursions after class to expand our thinking, such as a robotic-powered restaurant in Boston (Spyce Kitchen).
The practical application to real world examples was particularly valuable. We critiqued the strategy of many publicly listed companies and provided alternate recommendations. Retrospectively, it’s been interesting to see that analyses we made during the course have alignment with some of the challenges and changes these companies have made over time.
Other key insights include:
- Thinking global from the beginning, as strategies suitable for the country of origin may not be suitable when expanding into other countries.
- Having a willingness to proactively disrupt your business and/or ‘cash cow’ products in a structured, systematic way to remain competitive.
- Adopting a technology radar to continuously scan the market for new opportunities and threats.
- When updating a company strategy to make sure that KPI’s and success metrics are also updated, as often this is overlooked.
- Understanding the risk of stretching a brand too far if it no longer links back to the core business.
- The importance of continually innovating as blue oceans turn into red oceans over time.
- Resisting the temptation to make business unnecessarily complex.
In addition to the world-class learning materials, I also gained tremendous insight from offline discussions with the other participants. For instance, the Chairman who sets aside time every year to invest in his own professional development offsite, and the Executive who occasionally works on the ‘ground floor’ to remain connected to the team and customers.
Overall, I found the international focus of the program to be extremely insightful; especially given the company’s ambitious plans to expand into national and global markets.
Beyond the Course – ILF’s Ongoing Benefits
With the benefit of hindsight, the ILF has played an instrumental role in my professional growth and development. It would be remiss of me to limit the benefits to the initial course that I undertook in Hamburg and Boston.
Some of the benefits I’ve been fortunate to gain through the ILFSN include:
- Attending many ILFSN events. The ‘money can’t buy experiences’ where we got to attend Scholar’s premises to understand their operations and ‘look behind the curtain’ were particularly valuable. I’ve also appreciated the honesty and transparency of some Scholars to share their business strategy and unfiltered learnings under Chatham House Rules.
- Living onsite the Edinburgh RAAF Base for three days as part of the Exercise Executive Stretch Program.
- Participating in the Mentorship Program which provided incredible support and guidance while I navigated several challenges.
- Forming new friendships, many who have become close friends and trusted advisors.
In addition, it’s been incredibly inspiring to watch the ILF Scholars and their South Australian businesses grow and evolve over the years. For instance, how they tackled unforeseen challenges, such as the pandemic, to make their business stronger.
Pioneering South Australia’s Future
We are at a critical nexus. Emerging technologies, disruptive business models, changing customer expectations, geopolitical shifts, and the retirement of many baby boomers are all converging. To capitalise on this opportunity, we need leaders who are willing to grow, adapt and challenge outdated assumptions. This requires a shift in mindset, as what’s worked in the past won’t necessarily work in the future. It’s also important that we proactively foster the next generation of leaders.
The ILF plays a vital role in nurturing an ecosystem where South Australian leaders can grow and thrive during changing conditions. However, its continued success depends on sustained, intentional engagement and commitment. I encourage existing ILF Scholars to actively contribute and give back where possible. Whether that be by sharing your learnings and insights with the ILFSN, supporting a tour of your business premises, providing a tax deductable donation, or encouraging emerging leaders to apply for a ILF scholarship. Collectively we can pay-it-forward to strengthen the future of South Australia.
Thank you to the ILF founders, Board and team for your dedication to supporting our local leaders and great state. It is a privilege to be surrounded by South Australian leaders who are committed to lifelong learning, challenging the status quo and strengthening South Australia’s economy.
I strongly encourage eligible leaders who are driven to creating real impact to apply for an ILF scholarship. It will help elevate your leadership and inspire new ways of thinking about South Australia’s future. Together we can ensure that South Australia remains a vibrant beacon of opportunity and prosperity for generations to come.
