Alumni Magazine for Durham Business School Autumn 2012 Issue 22

IN THIS ISSUE: LESSONS ON LEADERSHIP FROM EURO 2012//FORAGING ECOLOGY AND CONSUMER BEHAVIOUR//BUSINESS PROJECTS BUSINESS POTENTIAL

“Senior leadership is but one component of anorganisational system…”Lessons on leadership from Euro 2012 (see pages 16-18)

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CONTENTS

IN THIS ISSUE…4

Dean’s Welcome

There has been much to celebrate over the past 12 months, not least the cutting of the first sod andcommencement of the expansion of the Business School.

The rebuild and refurbishment projecton the current Mill Hill Lane site willsee Durham Business School undergo a major transformation resulting in aninspiring fit-for-purpose modern facilityto match its teaching reputation. Works comprise an extensive remodel,including structural alterations to thecurrent internal spaces and the creationof two new blocks of two and threestoreys. The new blocks will be linkedto the existing building and form twodistinct courtyard areas. A new curvedwalkway, created through the use ofstructural glazing, will provide access to the courtyard areas. The School willalso benefit from four new lecturetheatres including a Harvard-styletheatre that enables an interactive stylelearning experience. In order to limit its carbon footprint, the building willincorporate a number of sustainablefeatures including a ground source heatpump system, solar controlled glazingand improved heating and air circulationsystems. Work is due for completion

in September 2013 and until then wehave temporarily relocated to UshawCollege on the outskirts of the City. If you are interested to learn moreabout the redevelopment, please visitwww.dur.ac.uk/dbs/about/development

In anticipation of the physical expansionof the School, we have recruited to anumber of new academic posts and inthis issue, on page 19, we introduceone of the recent additions to thefaculty – Professor Mike Humphreys.

Recent successes for the School includeour Global MBA being placed 7th inthe world in the 2012 QS DistanceOnline MBA Ranking. This is currentlythe only report that ranks accreditedonline, distance and hybrid MBAprogrammes. Of the featured top tenschools, Durham Business School is one of only four that boasts tripleaccreditation from AMBA, EQUIS and AACSB. I would personally like to congratulate the Global LearningCentre for developing the programme,especially the blended learningelements of the course which make it such a popular choice for today’sbusy professionals.

As a research led institution, it isimperative that we share what ouracademics are working on and make it as relevant to today’s business worldas possible. In this issue we have atopical piece by Professor Birgit Schynsand Dr Graham Dietz titled ‘Lessons on Leadership from Euro 2012’ (pages16-18), as well as an article on an areaof marketing into which Dr Victoria Wellsis researching – ‘Foraging Ecology andConsumer Behaviour’ (pages 10-11).

To celebrate the end of anotheracademic year, it is fitting that we sharewith you some great memories of ourmost recent Congregation ceremony.Pictures of our celebration reception at Palace Green Debating Chamber can be found on pages 20-21.

Finally, the School will celebrate its50th anniversary in 2015 so I inviteyou to share with us your memories,mementos and photographs so that wecan record its rich history. As we planour celebrations please contact AlexMcNinch at dbs.alumni@durham.ac.ukto share your contributions and ideas.

Professor Rob Dixon,Dean

As we look forward to anotherexciting year, I would like to thankeveryone who has contributed tothe success of Durham BusinessSchool over the past 12 months.

School NewsBUILDINGS UPDATE

As featured in the Dean’s Message, workon the expansion and refurbishment ofthe DBS Mill Hill Lane site continuesapace. Demolition, excavation andrebuilding activities are well underwayand the project continues to progress onprogramme. In addition, at Queen’sCampus the extension of the WolfsonBuilding is now complete and BusinessSchool marketing faculty along withpostgraduate support staff, moved in at the start of August. This new facilityprovides 18 academic offices, an openplan research study area for 24 students,a seminar/study room for postgraduatestudents and an open plan office forsupport staff. With views over the RiverTees, the building is an attractive settingfor the new Experimental Science Labwhich has a main laboratory with 23experimental spaces for individualparticipants, a soundproof room for one-to-one observations, and a seminar roomwhich can be set up for both groupobservations and individual experimentsfor up to 20 participants.

RANKINGS NEWS

As well as the success of the School’sGlobal MBA in the QS rankings, the mostrecent Financial Times Masters in FinanceRanking placed our programmes 25th inthe world and 7th in the UK – excellentprogress and a rise since last year.

SCHOLARSHIPAWARDS

The winner of theDBS/IndependentMBA Scholarship(full-time) hasbeen selected.Eunice Benedicto(pictured), an

accounting analyst from Texas, USA, willjoin the full-time MBA 2012 programmein Durham this September. This is theseventh time the scholarship has beenoffered. The successful Executive andGlobal programme applicants (DavidBeeton and David Makepeace) wereselected in December and began theirstudies at the start of this year.

GLOBAL LEARNING CENTRE

The first workshop in the Global LearningCentre’s new Customer Insights Programmefor the Royal Bank of Scotland took placein May. Delegates numbered 15 and theprogramme, delivered by Dr Julie Hodgesand Dr Mike Nicholson, concluded withan inaugural dinner in Durham Castle.

SAUDI ARABIAN VISITORS

A group of 20 Executive MBA studentsfrom King Abdulaziz University in SaudiArabia came to Durham for an InternationalStudy Week in June. Their visit included a four-day course on InternationalStrategic Management and a London tour with a company visit hosted by BBC Television Centre.

QUEEN’S HONOUR

Congratulations go to former DBS staffmember Sheena Maberly, (CareersDevelopment Manager at DBS 2000-04),who was awarded the MBE for services toHer Majesty’s Prison Service in the Queen’sbirthday honour’s list. Sheena’s currentrole is Regional Head of Learning, Skills& Employment North East Prisons.

5news news news news news news news news

DURHAM UNIVERSITY WELCOMESHER MAJESTY THE QUEEN

In July Durham University hostedHer Majesty The Queen and His RoyalHighness The Duke of Edinburgh aspart of their Diamond Jubilee tour of the United Kingdom.

The Royal couple visited Durham Castle,home to University College, where theyhad lunch with dignitaries and students inthe Great Hall. They last visited DurhamCastle in 2002 during Her Majesty’sGolden Jubilee celebrations. On thatoccasion The Duke of Edinburgh alsotravelled to Durham University’s Stocktoncampus to announce that it had beenawarded the title of Queen’s Campus.

DURHAM’S NEWCHANCELLORINSTALLED

The installation, in June, of SirThomas Allen asthe University’snew Chancellorwas a magnificent

occasion. Sir Thomas, 67, received theChancellor’s robes and cap and took theoath of office at a ceremony in DurhamCathedral. He is the University’s 12thChancellor, taking on the role from authorBill Bryson who attended the ceremony tohand over the robes of office to Sir Thomas.

HONORARY DEGREES

During Congregation ceremonies heldover four days in June, honorary degreeswere awarded to a range of luminariesincluding: Philip Pullman (DLitt), DavidInshaw (DLitt), Biddy Baxter (DLitt),Jeremy Vine (DCL), Brent Cheshire (DSc),Charles Wilson (DCL), John Rutter (DMus),Irina Bokova (DLitt), and Gary Fildes (MSc).

JON LORD, COMPOSER OF THEDURHAM CONCERTO

Jon Lord, a friend of the University, sadlydied in July aged 71. His most well-knownclassical work, the ‘Durham Concerto’,was commissioned by the University forits 175th Anniversary in 2007. Jon isperhaps best known however as thekeyboard player with Deep Purple. CDs ofDurham Concerto, recorded at its Worldpremiere in Durham, are available fromthe University’s online shop:http://shop.durham.ac.uk

University News

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Alumni – UpdateWelcome to the autumn edition of your alumni magazine. We are nowwell and truly settled in our new (temporary) home at Ushaw College.Our new location is proving to be exceptionally popular with studentsand the alumni and external guests who have sampled the delights of the hospitality in the Parlour and Refectory. Our most recent guestswere members of the MSc 1977 cohort who were celebrating the 35thanniversary of their graduation from the Business School. One of thenatural born leaders of the group, Peter Pearson, kindly recounts talesof their reunion on pages 8-9.

You may recall that in the last issueI wrote about improvements that theSchool has made to the alumni networkover the past 12 months. Changes wehave made include a greater focus on serving our international alumni.We have introduced a programme of refresher seminars events andenhancing recruitment and networkingopportunities with the inclusion ofprospective students and externalcontacts of the School. Subsequently,the D8 initiative was launched in eightof our most significant markets – visitpages 14-15 to read more about theD8 schedule and the six cities thatDBS has already taken by storm!

I am once again delighted to havesuch a strong alumni contribution tothis edition of our alumni magazine. In addition to Class Notes and LocalAssociation News, we have a review of the book ‘Confessions of aMicrofinance Heretic’, which wasauthored by alumnus Hugh Sinclair(BA 1992-95 and MSc 1996-97), and was published in July. The reviewis written by another alumnus – SahilMalik (MBA 2009-10) and can befound on page 24. Hugh is also thesubject of our Alumni Q & A feature(page 25).

An essential element of a modern globalbusiness school is collaboration withthe business world. One activity, thatis highly beneficial to organisations,

is the free consultancy we provide inthe form of student Business Projects.These projects, which are an assessedpart of the students’ studies, oftenlead to new opportunities. This is thesubject of our feature on pages 12-13.Cyril Lebel (MBA 2010-11) was giventhe opportunity to work on a project for Vodafone over the summer of 2011and has continued to do so, whileSteve Prior (MBA 2004-05) set up his own business, Forest Carbon Ltdfollowing his successful businessproject.

Many of you may be curious to know how the development work is progressing at Mill Hill Lane. Our on-site video cameras are capturing all the action and this will be madeavailable soon on our website as aseries of monthly time-lapse videos.www.durham.ac.uk/dbs/about/development

Those of you who are interested insupporting the future of the Schoolwill be pleased to learn that we areoffering alumni and friends theopportunity to have their nameengraved on a seat in one of the newlecture theatres. The ‘Take Your Seat’campaign (detailed on page 7) hasbeen created to facilitate alumniinvolvement in the redevelopment. All of the money raised through thiscampaign will be endowed to securethe future of Durham Business School.

The UK has been buzzing with Olympicexpectations since 2005 but it allcame to fruition in London this summer,and what a spectacle it turned out tobe! We would love to hear from you if you have Olympics or Paralympicsstories and photographs to share.

If you have any feedback on themagazine or the alumni association in general, please do get in touch as I would be delighted to hear from you.

Finally, following Alumni CoordinatorHayley’s move back to Ireland earlierthis year, I am pleased to announcethat Katharine Aspey joined the teamin August. She has previously workedat both the University’s Durham andQueen’s campuses and as well astaking on this busy role, she is studyingfor a part-time masters in marketingmanagement. I am sure you will joinme in welcoming her to the School.

Alexandra McNinchAlumni Relations Manager

Here we go again. Another reunion –dangerous events these. Memory iskind, reality is not. Some of us met upafter 13 years in 1990. For others, theget-together in 2007 marked a gap of 30 years since we had last met. Then we just fell into an easy comradeship as though we had parted the day before.Extraordinary.

This reunion (July 2012) was nodifferent. Bob Burns (US), Anna Scharf(Germany) and Peter Pearson (Surrey)were the first to arrive, followed thenext day by Geoff Lodge(Buckinghamshire), George Bell andhis wife, Susan (Australia), Liz Thorleyand her husband, John (Darlington)and a little later, Phil Owen (Russia viaBridgend, South Wales) still with snowon his boots. Again we all simply tookup where we had left off – holding apint! Unfortunately, Peter and CarolineHerborn (also from Australia) wereunable to join us as Caroline had beeninjured in a car accident (fortunatelynot too seriously) that precluded flying.We wish her a complete recovery.

So our group represented a 23 per centturnout of the original 1976-77 cohort.Not bad really after 35 years, particularlyas, sadly, one or two of our intake havepassed on.

The appalling weather that hit theNorth East the previous weekend wasstill reflected in the flooded River Wear.And it still rained! Our plans for longtrips to Lindisfarne, Seaham and otherplaces were abandoned. We initiallyrestricted ourselves to Durham City and what a blessing this proved to be.

The soft magic of the place began toseep back once again into our DNA. We discovered nooks and cranniesnever come across before including the Old Fulling Mill, Museum ofArchaeology and the Durham HeritageCentre and Museum – the passage oftime was starkly demonstrated by someof us being able to claim pensionerconcessionary ticket rates!

The highlight of this reunion was onFriday with a tour of Ushaw Collegefollowed by a formal dinner presidedover by Professor Geoff Moore, DeputyDean (Learning and Teaching). UshawCollege, where the School is currentlybased during the development of theMill Hill Lane site, is an astonishingbuilding. We were fortunate to have as our guide Peter Seed, Director ofEstates and Facilities at the college, whoimpressed us with his deep knowledgeof the history of the buildings.

We had met earlier with Bahadur Najak(‘Naj’) and were delighted that two moremembers of our faculty, Peter Manleyand John Machin, with his wife, Brenda,were able to brave the rigours of theEnglish summer and join us for the(absolutely delicious!) dinner. Weexpressed to Naj, Peter and John ourcontinuing gratitude for what they haddone for us during ‘our year’ in Durham.

In saying a few words after the meal,Peter Pearson thanked AlumniRelations Manager Alex McNinch andLynn Thornber for helping us to puttogether the reunion; announcing thatthe alumni present would back the‘Take your Seat’ campaign and sponsor

one or more seats in the new BusinessSchool lecture theatre. We are hopefulthose alumni not able to join us will alsodonate and participate in this, the mostexciting development in the history ofthe Business School.

Saturday saw us take advantage of someimproved weather by visiting BowesMuseum in Barnard Castle. What astunning place this is both for itsarchitecture and for its world class art,ceramic and silver collections. After pre-dinner refreshment back in Durham a decision was taken to have a meal in a certain Italian eatery. After an hour’swait for a first course of minestronewhose coldness was only matched by its greasiness, six of the finest businessmanagement brains that DurhamUniversity Business School have everproduced staged a walk out, repairing tothe chippy across the road. Fish & chipsnever tasted better!

The remainder of the weekend includedsupport of one or two of Durham’s otherhostelries neglected during the previousthree days and enjoying the City’sInternational Brass Festival which filledthe streets with music.

This reunion enabled us to renewfriendships, re-engage with thespirit of Durham, revisit the placesassociated with the year that changedour lives, and honour those who madethat change happen. On all counts avery successful weekend. Please markyour diaries for July 2017!

The Spirit of Durham35 years after the MSc class of 1976-77 left Durham, they returned to the City they hold so dear and here,alumnus Peter Pearson recounts the tale of their reunion.

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If you feel inspired to reunite with your fellow cohort members, please contact the Alumni Team who will be happy to assist.

1. L-R Standing: Peter Manley, Geoff Moore, John Machin, Peter Pearson, Geoff Lodge, Bob Burns, John Thorley, George Bell, Jason Coleman. Seated: Liz Thorley, Anna Scharf, Alex McNinch, Therese Winter, Susan Burns, Brenda Machin. 2-3. Enjoying the atmosphere at Ushaw College. 4-10. Memories of Durham days – 1976-77.

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Social ForagingSocial Foraging, compared to the otherareas of foraging research studied above,has received far less academic attentionbut provides valuable insights into thepotential behaviour of consumers andpotential research areas for futureresearch development.

One theory in this area, Ideal FreeDistribution (IFD), is directly related toresearch on crowding behaviour and inparticular is concerned with how crowdingwill lead to a forager moving to a differentpatch and when this would happen. As noted above, while much research in consumer behaviour has studied theantecedents of retail choice little researchhas studied the points at which consumersleave particular retail environments andwhy. Crowding, via social foraging theorymay help to explore this.

IFD is also concerned with the idea ofcompetitive influence and how interactionsbetween consumers could reduce searchand purchase efficiency through to theextremes of kleptoparasitism (outrightexpropriation of food from its finder),areas which could add to the growinginterest in consumer ‘misbehaviour’.

Social Foraging as a wider area looksdirectly at how two or more individualsconcurrently influence each other’senergetic gains and losses and that thereare identifiable, mutual relationships.This research also makes the distinctionbetween aggregation (a group who happento go shopping at the same time) and asocial group (consumers who go shoppingtogether). This leads on to questionsregarding the efficiency of different groupsizes and composition when shopping andthe multitude of currencies (or reasons forshopping) that can affect this.

Affluent ForagersWhile foraging theory is predominatelystudied from the perspective of animalbehaviour, another area of foraging theory,from anthropology and archaeology shedsadditional light on foraging within humanpopulations. This area explores ‘affluentor complex foragers’, who exist in habitatsthat are described as productive ratherthan harsh and provide a richer suite of natural resources, hence the foragersare more sedentary and a higher level ofeconomic complexity is seen. While thebehaviour of animal foragers is about‘survival of the fittest’, the behaviour ofaffluent foragers is more complex andarguably has more similarities to humanconsumption behaviour.

Looking AheadSo far the work has been theoretical and the next step is to collect data to doempirical analyses comparing consumerand animal behaviour directly. Of particularinterest is the patch behaviour ofconsumers, in essence where they chooseto shop and why. Developing an idea ofconsumers’ ‘shopping territory’ throughmapping techniques and accompaniedshopping trips will allow researchers to geta better idea of how and why consumersuse the shops and shopping areas they doand how this changes over time. It is hopedthat the outcomes of this research willhelp guide a wide range of professionalsfrom marketers and retail owners toshopping centre developers and city and regional planners.

For more information on this subject areayou can contact Victoria onv.k.wells@durham.ac.uk.

Dr Victoria Wells is a Senior Lecturer in Marketing atDurham BusinessSchool. Her researchfalls in the generalarea of consumerbehaviour andconsumer responsesto marketing actions.

Patch and PreyTwo central ideas within foraging theoryare patch and prey. Patches are simplyphysical areas within a habitat, often welldefined, in which an animal can find foodor other materials it needs for survival.The obvious analogy for human consumerswould be physical area such as a shop or a mall but the patch does not have to apply to definite physical boundariesand might instead form the acceptableshopping area or the shops the consumeris aware of or evaluates positively.

In turn the prey is the food or othermaterial the forager seeks within one or more patches. The obvious analogyhere is the product, brand or service theconsumer seeks to buy. From this animalsmake two main choices: ‘within patchchoices’ (choices over which prey toconsume), and ‘between patch choices’(choice between shops or shopping areas).

Within Patch ChoiceClassic prey selection models makeassumptions about animal behaviour,which appear to also be demonstrated inhuman consumption behaviour. An originalassumption was that the predator is ableto recognise prey types perfectly and

instantaneously but this, with both animaland humans, is not always the case.Foraging theory has suggested that it ismore likely that signal detection is inoperation; that in some foraging situations,predators learn that certain types offeeding opportunities are signalled by theoccurrence of environmental events suchas a light, other animals behaviour etc.Consumers also detect signals, the mostobvious and commonly used being thebrand mark or name. Classic prey modelsalso originally made the assumption ofoptimality, that the profitability (the pricevs value) of prey is known and all decisionsare made based on this. More modernforaging theory reflects that predators may not act optimally for two reasons:misidentification of prey and sampling.This too seems to be the case forconsumers. While consumers know thebrands they buy often well (but often notas well as they think they do), they willsample other brands or products out oftheir usual repertoire, to test what else isout there and to ensure they’re not missingout, or alternatively, they are prompted to sample by price promotions. However this has not been extensively tested andforaging theory can provide the vehicle for this.

Between Patch ChoicesCurrent consumer research is basedlargely on the initial reasons to choose aretail environment including, for example,location, household income, family sizeand centre or shop attractiveness.Foraging theory highlights others areas,under-researched in the consumerliterature which may be important. Thedecision to remain in a shop or patch, aswell as how often to return to it, is of vitalimportance in foraging theory but thesewider shopping patterns are less wellknown within consumer literature. Whilerecent research has suggested that multi-shop trips are common (between 40-74per cent depending on type of purchase)this significance is not reflected in theliterature. Foraging theory devotessubstantial time to multiple patchshopping patterns and accounts for thesetrips in terms of quality (and in particularchanging quality) of patches and the needonce again for sampling of alternatives.Utilising models studied widely in foragingtheory (such as the marginal valuetheorem) will help us to understand these patterns of store choice better andconcentrate on the multi-store patternsthat are evident in so much of ourconsumer behaviour.

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Foraging Ecology andConsumer Behaviour

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We generally believe our behaviour is very different to that of the non-humananimals around us but recent work has shown that it may be quite similar.Building on work in behavioural psychology, animal experimentation andinformation foraging, Dr Victoria Wells, a member of the Marketing facultyat Durham Business School, is exploring the relevance of foraging ecologymodels to consumer behaviour.

From the outset the project supplied himwith an abundance of new knowledgeand networking opportunities – includingthe meeting Steve secured with theirfirst potential client, Marks & Spencer.A fellow MBA student on study leavefrom M & S had heard Steve enthusingabout his new venture and arranged for Steve and James to speak to thecompany’s head of sustainability,primarily to test the viability of theirproposal. The unexpected bonus was a contract to sponsor five new nativewoodlands over the following year andForest Carbon was launched, foundedon a handshake at Paddington tubestation later that day.

In the meantime, Steve’s continuingresearch was providing access to leadinggovernment carbon offsetting policymakers who would, in the future,

commission him to write papers, attendconferences, and sit on expert panels in the UK and abroad. He also metinternational carbon industry expertsand received funding to present hisbusiness project findings at the UN2005 Conference of the Parties to the Kyoto Protocol in Montreal. Morerecently Steve was invited to join theexpert panel responsible for designingthe UK’s new Woodland Carbon Code,the industry standard for carbonwoodland projects.

Speaking about contacts from his MBAdays, Steve says: “It wasn’t just whatthey could ‘do’ for me – it was accessto their knowledge and experienceand also their challenges to my ownresearch and ideas. It all meant that,in the end, we had a business thatworked better.”

To date the business has planted3,500,000 trees across England,Scotland and Wales for partnersincluding The Green Insurance Company,Stagecoach, Kwikfit, Mears Group,Hallmark, sofa.com and BWOC. Of the60 projects – expected to capture over750 000 tonnes of C02 – most arealready registered with the WoodlandCarbon Code with the rest to follow.Steve says he’s sometimes stillsurprised, and very pleased, to findhimself working in such a green andpleasant world – the last place heexpected an MBA would take him.

Learn more about Forest Carbon here:www.forestcarbon.co.uk or email themon info@forestcarbon.co.uk

Created in 2006 with fewer than 50people, Vodafone Global Enterprise hasgrown exponentially reaching over 1,200employees in 2012. Cyril’s BusinessProject focused on cloud storage and its adoption in the enterprise.

Cloud computing had become abuzz word surrounded by hype andmisunderstanding. Clarification wasessential. In the consumer space,all of the methods of synchronisingdocuments among the growing numberof devices (PC, mobile phone, tablet…)are cloud based. However, businessesworry about security in its broadestmeaning and tend to refuse or limitthe adoption of cloud storage despiteobvious productivity gains and easeof use.

These issues provided an obvious wayfor Cyril to make use of recent learningfrom the core modules of the MBA

programme. He was especiallyenthusiastic about applying some of the frameworks around the diffusion of innovation discussed during the‘Strategic Innovation’ elective with Dr Pierpaolo Andriani.

Relying on interviews to collect most ofthe research data turned out to be bothan outstanding networking opportunityand the best way to discover theorganisation’s operating model andculture. Cyril was able to meet andinterview a wide range of specialists,who offered technical, marketing,strategic and operational perspectivesfrom engineer graduate level to seniorleadership. It took time and waschallenging given the schedules of these‘sources’ but the data collected wasworth it and the contacts made provedto be invaluable, above and beyond thescope of the business project itself.

The accessibility of these specialistsand their openness and willingness torefer Cyril to further contacts both withinVodafone Global Enterprise and outside,revealed a culture of openness andcollaboration, with a big appetite forinnovation and new challenges.

Given the strategic importance of cloudstorage and the growing commercialsuccess of the enterprise tabletproposition, Cyril was given theopportunity to continue working withVodafone Global Enterprise after hisBusiness Project was completed. Furtherresearch led not only to a white paperbut also to work around new propositionsand products now coming to market.

For Cyril the decision to undertake aBusiness Project was motivated by thepeople he met at the DBS networkingevent– it proved tobeanexcellent choice.

Go to any business school, Steve says,and you’ll keep hearing the word‘contacts’ – which is why so many investin an MBA. It’s a well-founded perceptionthat a business school is where fortune-changing networking opportunities can be found. But at Durham Stevediscovered that the old adage, ‘it’s notwhat you know, it’s who you know’ canbe turned on its head. He says that whatyou know comes first because your mostvaluable contacts will be the ones whoexpect you to have something of yourown to offer.

Steve says the two best bits of advicehe received during his MBA coursewere: a) contacts are vital and b) yourdissertation or business project period is your opportunity to acquire an area ofexpertise that someone might be willingto pay for in the future. This advice

proved to be correct and Forest Carbonstands firmly on the foundation of his business project (on UK forestry in emerging carbon markets), withSteve’s co-owner and co-founder beingsomeone he interviewed during theresearch process.

The acquisition of new contacts andknowledge was, he found, an easy andnatural part of his project work whendoors, usually closed, would be openedquite readily to a person undertakingresearch. In his case, the mostsignificant new contact he made waswith future business partner JamesHepburne Scott who at the time waschair of the Scottish Forestry and TimberAssociation and an active lobbyist forthe exploration of carbon markets byUK forestry.

Steve and James soon realised that,between them, they had the knowledgeand contacts to create a standard-settingvoluntary forestry offsets business.

“Meeting James halfway through myproject was a turning point”, says Steve.

“Suddenly we were building and testingan actual business model and thescience behind it.”

Until Steve (a former school headmaster)arrived at Durham he hadn’t given theKyoto Protocol or ‘carbon’ woodlandsmuch thought but it took just oneinspirational lecture from Tony Cockerill– on the role of economics in solvingenvironmental degradation – to set himon his new path. Later that year, when a business project in this field wasoffered, Steve grabbed it.

BUSINESS PROJECTSBUSINESS POTENTIALUndertaken as an alternative to the traditional dissertation, the connectionsmade during a Business Project can offer real payback. Here two DBS MBAalumni talk about their experiences and the benefits.

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According to Steve Prior (full-time MBA 2004-05), the success of Forest Carbon Ltd,the business he based on his own MBAproject, can be attributed to two things: niche expertise and contacts.

Cyril Lebel (full-time MBA 2010-11) made the decision to take on a BusinessProject with Vodafone Global Enterprise during a networking event organised at DBS and has since joined the company as Global Service Manager.

MOSCOW: 19 APRIL 2012 – ARARATPARK HYATT MOSCOW

Theme: Crisis Management with Dr Mike Nicholson, Director of Durham Business School’s GlobalLearning Centre.

Irina Tolstova, an MA GLC alumnafrom the class of 2010 said: “It isgreat that DBS is arranging networkingevents for its students in almost everycountry. I enjoyed the informativelecture by Dr Mike Nicholson on CrisisManagement and meeting with Durhamalumni in Moscow. I am always inspiredby the leading faculty of DBS and thisis a great opportunity to meet my fellowstudents and alumni, as well as sharemy experience at DBS with newapplicants. These events make youfeel a part of the big internationalfamily of DBS and I hope it willcontinue growing all over the world,including in Russia.”

DUBAI: 18 MAY 2012 – MONARCHDUBAI

Theme: Finance for the non-financialmanager delivered Dr Aly Salama,Deputy Director of the PhD programmeand MBA module leader.

SHANGHAI: 21 JULY 2012 –INTERCONTINENTAL EXPO

Theme: Crisis Management with Dr Mike Nicholson, Director of Durham Business School’s GlobalLearning Centre.

Ocean Wang, an MBA from the classof 2008, enjoyed the event and said:

“DBS Alumni – when we are together,we are stronger.”

HONG KONG: 12 SEPTEMBER 2012 – CITY UNIVERSITY

Theme: Derivatives in the News –Understanding the Dangers of ExoticDerivative Products with Ian Whitfield,Senior Teaching Fellow in Economicsand Director of Undergraduate Studies.

NEW YORK CITY: 18 SEPTEMBER2012 – INTERCONTINENTALBARCLAY

Theme: Trust in Uncertain Times withDr Graham Dietz, Programme Directorof the MA and MSc ManagementProgrammes.

TORONTO: 20 SEPTEMBER 2012 –INTERCONTINENTAL TORONTOCENTRE

Theme: Trust in Uncertain Times withDr. Graham Dietz, Programme Directorof the MA and MSc ManagementProgrammes.

D8 is a worldwide series of events designedfor our alumni, corporate partners andprospective postgraduate students, takingplace in eight of our most significant markets throughout 2012 and 2013.

In conjunction with the Global LearningCentre, the DBS Alumni Network hasorganised Continuing ProfessionalDevelopment workshops to enable alumniand students to engage with the School’svision of lifelong learning, and to provideprospective students with the chance toexperience DBS teaching.

Here are some of the events that have takenplace to date.

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D8 events are planned for London and India – details will be available in due course.

In psychological research, there is aphenomenon called the ‘Romance ofLeadership’ (Meindl et al., 1995), whichexplores why, among all the things thatmight influence firm performance, it isleaders who are seen as the decisiveinfluence, the vital variable that makesthe real difference, especially whenperformance is unexpected, no matterif good or bad.

In business, the late Steve Jobs was theobvious example of one man’s super-ordinate, mythologised status over hisorganisation, while Nick Buckle, ofsecurity firm G4S, is currently on thereceiving end of a ‘romance of leadership’backlash for his role in the Olympicssecurity shortfall debacle.

Romance of leadership is especiallyprevalent in sports. For national teamcoaches – the leaders – their task androle in a major tournament is not onlyto lead a disparate group of players to potential success; it is also aboutmanaging, and ideally fulfilling, anation’s expectations of the team’sperformance. Very often the personality-driven media coverage assigns to theteam managers complete responsibilityfor their team’s performance, good orbad, regardless of whether this is reallyin their scope to influence.

To paraphrase Albert Camus, (almost)everything we two authors know aboutorganisations we owe to watchingfootball – which brings us nicely to the recent Euro 2012 tournament.

Take the English. In major tournaments,England always “underperforms”. In fact,Kuper and Szymanski (2009) haveshown that England actually performcompletely in line with their averageranking and past performance – crashingout halfway (but always, always unjustly),usually in the quarter finals. This is,obviously, not in line with England’s(absurdly inflated) public expectations,leading to an unedifying witch-huntthat typically ends with the manager’sdeparture.

This year seemed different. Expectationsfor the new manager, Roy Hodgson,were very low indeed, having only been

appointed weeks before the tournamentbegan, to little fanfare and plenty ofscepticism, and in defiance of ananalysis-free media campaign in favourof Harry. A promising draw against theFrench raised expectations, which wereheightened further after the 3-2 triumphover Sweden, after which Hodgson wassuddenly characterised as having “theMidas touch” (BBC, 2012). Anotherfortunate win, over Ukraine, saw theromance of Hodgson’s leadership go

into overdrive, only to come crashingback to planet Earth after England wereoutclassed by Italy in – yes – the quarterfinals. Happily for Hodgson, his shorttenure (and apparently genial mannerwith his media tormentors) means hehas been spared the brickbats. How longthis will last into the World Cup qualifierswe shall see.

Contrast England with teams likeDenmark and Germany, who havetrusted their managers more for thelong-term. Morten Olsen has been theDanish coach since 2000 and JoachimLöw went from German assistant coachin 2004 to head coach in 2006. Again,let’s have a look at expectations: beinga small nation with the accompanyingcaveat of a small pool of players tochoose from, Denmark’s expectations of going far in international tournamentsare rather modest. Indeed, qualifyingmay already be considered a success.And the Danes seem to understand thatthe best way to meet these expectationsis to have a stable manager, who hassignificant influence over all aspects of Danish football, including youthdevelopment.

German expectations are rather moreambitious; they expect to come homewith the trophy. Indeed, the Deutsche

Fussball Bund’s decision to retain Löw,despite overseeing a string of ultimate‘failures’ in the last three majortournaments, might be related to theseexpectations. Their planning is similarlylong-term, but for Germany it is to builda national team that will end their 16-year trophy drought in the near future.Germany fielded the youngest team in the Euros, and lost narrowly to Italyin the semi-finals. Both coaches willcontinue in their post.

Germany and Denmark’s patientperspective chimes with research intofootball manager tenure which showsthat frequent upheaval and leadershipchange does not improve teamperformance (Bridgewater, 2006;Hughes et al., 2010). Indeed, teamssuch as Denmark and Germany may be spot on to resist the romance ofleadership, and their attention to otherfactors affecting performance suggestsa more systemic view of managing for success.

In the modules we teach at Durham,and in much of our research, we arecareful to stress that senior leadership isbut one component of an organisationalsystem, and that performance has to beunderstood as a product of the complexinteractions between the differentsystem components, and theenvironment. The Burke-Litwin model(1992) of organisational change is onesuch depiction of a systemic approachto understanding what determinesperformance. Understanding where theproblem(s) is or are, in which variable(s),is the key to organising for success.

With this in mind, returning to Euro 2012,and working from the bottom of theBurke-Litwin model up, teams andorganisations of course need skilful,

17

Are we in love with our organisational leaders a little too much?Here DBS academics Professor Birgit Schyns and Dr GrahamDietz look at what football – in particular Euro 2012 – can teachus about management.

Lessons onLeadershipfrom Euro2012

16

“In business, the late Steve Jobs was the obvious exampleof one man’s super-ordinate, mythologised status over hisorganisation, while Nick Buckle, of security firm G4S, iscurrently on the receiving end of a ‘romance of leadership’backlash for his role in the Olympics security shortfall debacle.”

18

What do you want to achieve? That’s a difficult question to answer.I shall be 65 years old in Decemberthis year and feel that I have alreadyachieved more than I would havebeen able to predict as a young man.Being a reasonably well-publishedresearcher, a fairly successful teacher,and a supportive colleague is enoughfor me.

What drives you? I try to avoid feeling driven – I preferto think that life just seems to ‘happen’to me.

What was the best career advice youwere given? I can’t recall ever being given anycareer advice!

What advice can you offer tostudents and alumni thinking of an academic career? I would have to know the individualstudent or alumnus rather well beforeI would presume to give them anyadvice. Several of my former PhDstudents now have academic careersand I would encourage them to aim high in their research andpublication strategy.

What are you currently working on at Durham Business School? I’m working on several things atpresent including: a paper onautoethnography with ProfessorMark Learmonth, Durham BusinessSchool’s Deputy Dean (Research); a paper on power and organisationalspace with Dr Alison Hirst, Universityof Bedfordshire; a paper on thepolitical marketing of the extremeright with Dr Mona Moufahim,Nottingham University BusinessSchool and Dr Patrick Reedy, HullUniversity Business School; and apaper on jazz and entrepreneurshipwith Professors Deniz Ucbasaran and Andy Lockett from WarwickBusiness School.

You can read more about Professor Humphrey’s research interests on the Academic Faculty section of the BusinessSchool website: www.durham.ac.uk/dbs

Professor Mike Humphreys, Professor of Organisation Studies Mike Humphreys joined Durham Business School earlier this year. As aNational Coal Board scholar he graduated in Chemical Engineering in1970 from Leeds University. Subsequently he went to work for the NationalCoal Board, moving into further education in 1974. He taught chemistrybefore taking up a post in science education at Bolton Institute of HigherEducation. It was then that he secured a masters and PhD from NottinghamUniversity, specialising in the management of technical education in Egyptand Turkey. He is now a respected specialist in the field of organisationalstudies and has written several papers and articles on organisationalidentity and management systems.

introducing......

19

knowledgeable and motivated employees(players, and support staff), but it isapparent that individual brilliance is notenough (witness Ibrahimovic for Sweden,Ronaldo for Portugal, Pirlo for Italy).

Individual motivation, however powerful,can be obstructed by a poor atmospherein the workplace. Netherlands coachBert van Marwijk could do nothing to overcome the ‘pathetic egos’ andquintessentially Dutch fissures thatbroke out in his squad, with one playereven leaking team tactics beforematches. However, a positive teamclimate could not offset the skill levelof the England players, who averagedjust 36 per cent of possession in theirfour matches.

Cesare Prandelli, the Italy coach, hasbeen widely praised for transformingthe fortunes of the beaten finalists (The Guardian, 30 June 2012), notablyin the climate of the group and individualmotivation, introducing consultationwith the players, bestowing bespokeattention on key players and imbuing a set of cultural values linking the teamback to the fortunes of their country(with visits on foot to churches, andrunning training camps in the poorerregions of Italy).

As for systems and processes – tacticsand formations, in sport – these clearlyhave an influence in terms of shaping

what the employees (are supposed to)do, but many players ignore or forgettactics in the drama of a game.

Löw himself is reaping the benefits of a major overhaul of German football,which began after their calamitous earlyexit from Euro 2000, when they lost allthree group matches. The DFB undertooka radical review of its player development,tactics, training, the entire infrastructureandculture (TheGuardian27June2012).Working with Bundesliga clubs, German‘new thinking’ has produced a moreenlightened type of player – not justtechnically, but behaviourally as well.One word that is instilled throughouttheir education is ‘demut’ – humility.That is to say don’t make an exhibitionof yourself. Don’t be brash and selfish.

“These are golden rules.” (Amy Lawrence,The Guardian, 27 June 2012).

There are two interesting points aboutthe Germans’ management of change,with implications for competition inbusiness. First, they got the idea fromthe French. Trying to copy, or adapt,successful others’ main ideas –‘mimetic isomorphism’ – is a sensibleapproach to effective management, butdifficult to realise, because sustainablestrategic advantage is likely to besystemic in nature, not down to one ortwo components. Second, the Frenchthrived in the late 1990s, their goldengeneration winning the 1998 World Cup

and Euro 2000, but they have performedpoorly ever since. Likewise, most of the teams rushing to implement the‘Moneyball’ approach to sport havelearned two painful but obvious lessons:one, performance is relative to whatothers do, not absolute and, two,competition is creative and destructive,and hence unpredictable. The glory offootball in particular is its persistentcapacity to confound easy predictions,to surprise and bewilder. Success turns on moments. In his 2007 book,‘The Halo Effect’, Phil Rosenzweigmakes similar points on the delusion of simple explanations.

Spain have just completed a spectacularand awe-inspiring treble of successivetournament triumphs: they have ashrewd coach in Vicente del Bosque,they have the players, including theextraordinary Andres Iniesta; the teamenjoys a cohesive and productiveworkplace climate (for the most part)and a culture in which giving the ballaway is sinful; and they have (almost)perfected a rare and (currently)irresistible system of playing. They seem to have it all.

Can their entire system be copied, andcan it last? The brackets in the previoussentences provide the answer, to bothquestions. The first step, we suggest, is to see the system, not love the leader.

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GRADUATIONCelebration was the order of the day on Thursday 28 June as BusinessSchool students proudly donned their graduation robes and processedinto historic Durham Cathedral.

In the presence of family, friends and staff, the graduands shook thehand of Sir Thomas Allen, the newly installed Chancellor of DurhamUniversity, and made the final transition to being a proud graduate of Durham University.

20 21

The ceremony, known as Congregation,is a wonderful opportunity to markthe culmination of the great amountof work and commitment that eachgraduate has undertaken in order to be awarded their degree.

Congregation is the term Durhamuses to describe its graduationceremonies and means a gatheringof members and friends of theUniversity to witness and celebratethe conferring of degrees. This year,over a period of four days, 3,366graduands from over 80 countriesattended the Durham Congregationceremonies.

The School’s postgraduate graduatesreceived their degrees at the morningceremony, whilst its undergraduate’sachievements were recognised atCongregation event in the afternoon.

After the formalities, despite theEnglish ‘summer’ rain, celebrationscontinued with a drinks reception inthe Durham Union Society DebatingChamber on picturesque Palace Green.

This afforded the opportunity for the School to confer some of its ownawards, with presentations made by programme directors for a range of achievements see below:

AWARDS AND ACCOLADES

DBS/EBS EXECUTIVE MBAMarco Zohren: Winner, Highest Average MarkChristoph Maixner: Second place, Highest Average Mark

EXECUTIVE MA IN ENTERPRISE MANAGEMENTJansen Reyes: Winner, Highest Average MarkIan Robinson: Second place, Highest Average Mark

GLOBAL MBAChristine Wilson: Highest Average Overall and Highest Mark DissertationPaul Allen: Highest Average Overall Global MBA (Finance)Arshia Bhatti: Highest Mark Dissertation part-time MAKin Fung Chow: Highest Average Overall part-time MARoseanne Trotman: Dean’s prize for Best Dissertation – Executive MBA Caribbean

EXECUTIVE MBA 10John Alexander: Best Dissertation and Best Overall Academic Achievement

BETA GAMMA MEMBERSHIP was awarded to the following students in recognitionof their academic achievement. Executive MBA: John Alexander, Christopher Flynn,Sinno Salvatore, Tim Forber and Zaneta Whitworth. Global MBA students: ChristineWilson, Paul Allen, Kun Fun Chow and Arshia Bhatti.

I’ve recently accepted a position atiLUKA for the London 2012 Olympics,it is an international sponsorshipagency which connects global brandsat global sporting events. I haveDurham Business School to thank for the creation of GLEAS as well asmy involvement with the Olympics, I became aware of iLUKA throughTeam Durham.

EVA XINJING LIUMSC FINANCE2006-07

My husband and I studied MScFinance & Investment together inDurham, graduating in January 2008.Afterwards we moved to London and found jobs. We had a wonderfulwedding in Athens in July 2011 andseveral of our classmates attended. We recently celebrated our one-yearanniversary in a lovely Thai restaurantin London.

JOHNNY LUKBSC NATURAL SCIENCES (BIOLOGY,BUSINESS AND GEOGRAPHY)2009-12

I recently graduated from Durham andI will begin my career path on the CivilService Fast Stream as a Policy Advisorin the Department of Business,Innovation and Skills starting thisOctober. Being only 21, I will be oneof the youngest members in thedepartment – the average age for first year Fast Streamers is 26. I amconfident that my Durham educationhas equipped me to meet the challenge.

MARY DOUGLASSMA MARKETING MANAGEMENT2011-12

I originally came to Durham Universityas an exchange student in 2009 andhad such an enriching time that Icreated a short-term summer abroadprogramme for students from my homeuniversity, the University of California,to study in Durham and York in July2012. The programme was successfuland the students loved living in theDurham Castle. I got to serve as theon-site coordinator and had a lovelytime showing the students why Durhamis so perfect. This programme will runevery other year and will hopefullystrengthen the relationship betweenDurham and the University of California.

YVETTE REIDEXECUTIVE MBA CARIBBEAN2004-09

In 2003 when Durham BusinessSchool decided to offer the MBAprogram to the Caribbean with thebase in Barbados, I seized on theopportunity and became part of thefirst cohort, and by extension, becameone of the “guinea pigs”! Despitesuffering illness, by the grace of God, I was able to complete the programand had the privilege of attending my graduation ceremony at Durham’sCathedral in 2009.

TARUN PHOGAT FT MBA 2010-11

I am currently working as a SeniorBuyer in Landmark group LLC,headquartered at Dubai (UAE). My workinvolves procurement of home furnituremainly from China, Turkey, Malaysia,USA and India for 100+ stores in 15countries. Neetu and I got married inIndia in July 2012. When I first mether I was immediately drawn to herbeautiful eyes, big smile and easygoing personality and I knew she wasjust perfect. We had a fantastic dayand friends from around the world –including many Durham Alumni (nowof course friends for life) Stefan Wilke,Germany; Ben Clarke, UK; Anna Kranz,Germany; Alice Panepinto, UK;Barbara Sabitzer, Palestine, andRichard Wilson, UK.

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JOHN HANNAHMSC MANAGEMENT1979-80

I have very fond memories of Durhamand the Business School, and lookforward one day to returning with mypartner Jennifer. A few years back inrecognition for rescuing a lady from anattack, Jennifer and I were invested forbravery by the Governor of New SouthWales (Her Excellency Professor MarieBashir) at a ceremony in GovernmentHouse in Sydney. We received ourawards together, and walked down theaisle holding hands. The Bravery Medalis two below the Victoria Cross amongthe Bravery awards, and on the full list of awards 7th above the Order of Australia. I had sustained severalinjuries including a broken neck, backand hip, which has just been replaced.Now, after two-and-a-half years, I amfinally getting back to normal.

MARKO IVANCEVICGLOBAL MBA2009-11

After seven years of clinical researchin North America, working for PhilipsHealthcare on its managing researchproject with academic partners,Universities of Michigan and Chicago, I am moving to the PhilipsHeadquarters in the Netherlands, as Senior Scientist in charge of theglobal body/oncology MR researchprogramme.

TEJASWY RAMAFT MBA2009-10

My wife and I married on 11 March in Vishakapatnam, India. Sridevi is aChartered Accountant from Mumbai.We have had a rocking time and aregetting ready for our Malaysian tournext month.

GARY BISHOPGLOBAL MBA2009-11

I graduated this summer from my MBAat the Cathedral and my charity Justlifehas been going great guns since westarted back in 2009. Justlife provideshealth and social care interventions forthe homeless and vulnerably housedand earlier this year we made it throughto the semi-finals of the NationalLottery Awards. Unfortunately we didnot receive quite enough votes to be inthe televised final, but we were pleasedas a relatively small outfit to berecognised. Later this year we will belaunching a project in Brighton whereI have just relocated to with my family.To learn more about Justlife visitwww.justlife.org.uk

ANH DAO NGUYENMA HRM2004-05

I am now the Managing Director of‘Dress Up And Dance Ltd’ in London,which is focused on inspiringchildren’s imaginations. To celebrateLondon Olympics 2012, Dress Up AndDance has a variety of UK-themedsportswear to encourage children to bemore athletic as healthy mind needshealthy body. Coming from a developingcountry like Vietnam but living inLondon, I want to build a closerrelationship between the UK andVietnam. So I intend to introduce a range of products made in the UK to Vietnam, and products made inVietnam – particularly from disabledchildren – to the UK. To find out moreabout my business, email me atinfo@dressupanddance.co.ukThank you to my tutors and friendsat Durham for giving me the abilityto make my dreams come true.

LINDSEY GLEASONMA MANAGEMENT2011-12

Earlier this year I won the first roundof Durham’s Dragons’ Den Competitionand then competed in the Grand Finalin June – where I was awarded 2ndplace. The new company GLEAS willput student-athletes directly in contactwith international university coachesand athletic departments. We’refocusing on the UK at the moment and will be launching our website soon.

CLASS NOTES

1. John Hannah2. Eva Xinjing Liu 3. Tejaswy Rama4. Anh Dao Nguyen5. Lindsey Gleason6. Yvette Reid7. Tarun Phogat

1 2 3 4 5 6 7

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BOOK REVIEW

25

Most of us have heard aboutmicrofinance, and it’s almost magicalclaim of being the panacea for all illsfor the world’s poor. Having workedentirely in microfinance since the2000s, Hugh Sinclair presents aninsider’s view of how this sector reallyworks. His bold and scathing exposéson many well-known globalmicrofinance institutions (MFIs) andfunds leave the reader spellbound.

Hugh explains that few MFIs actuallybenefit the poor (with some of themcharging interest rates as astronomicalas 144 per cent), and that many ofthem channel funds for their own self-interest. The case of LAPO in Nigeriais one such example of an MFI wherethe author has followed up on hissuspicions of their wrongdoing. Hugh’sethical standpoint makes him acrusader in this field, and he proceedsto whistle blow on the activities of his employer at the time, a Dutchmicrofinance fund, upon learning of its continued ‘assistance’ to LAPO inNigeria. It is also interesting to readabout Hugh’s experiences inMozambique and Nicaragua, where heinvestigates the real story beneath therosy picture being presented by MFIs.Hugh does not let any lead fizzle out;he follows it till he gets more evidencefor his work.

Hugh has not merely talked aboutMFIs which do not work. He has alsogiven instances of successful MFIs inMongolia and South America that haveworked wonders for the poor. This helpscreate a more balanced picture andalso affirms the fact that not all MFIsand funds are corrupt.

The reader will marvel at Hugh’sdogged pursuit in taking on corruptMFIs such as LAPO almost single-handedly. His hard work does pay off, as microfinance ratings agencieseventually do downgrade LAPO. Hughalso offers suggestions on tackling therot in the sector, so it is not a case ofmerely exposing wrongdoing and notoffering remedial solutions.

Even a lay reader will enjoy readingConfessions of a Microfinance Hereticas Hugh explains the intricacies of thissector in a simple manner. His personalanecdotes about the challenges ofworking in some of the world’s mostinhospitable places add colour to thebook. Additionally, one feels that as an author, Hugh has deep insight,knowledge and experience in the fieldof microfinance. His work on the groundlends him credibility, as he is notmerely ‘preaching’ about the subject.Apart from Hugh’s own expertise in thefield, he has backed up all his pointswith in-depth research.

All in all, I would recommendConfessions of a Microfinance Heretic,as this is indeed a book that will makeyou question efforts made to tackleglobal poverty. It will also make youthink twice about the claims made bymany MFIs and funds about their rolein empowering the needy.

One feels proud that a fellow DurhamBusiness School graduate has donesuch ground breaking work, which can truly help the global microfinancesector introspect on its weaknessesand correct its mistakes.

Learn more about Hugh Sinclair in theQ & A feature on page 25.

Confessions of a MicrofinanceHeretic – How Microlending LostIts Way and Betrayed the PoorSahil Malik (MBA 2009-10), gives his verdict on this recentlypublished book written by fellow alumnus Hugh Sinclair (BA Economics 1992-95 and MSc International & Corporate Finance 1996-97).

Hugh Sinclair (BA Economics 1992-95 and MSc International & Corporate Finance 1996-97) talks about his career and life post-Durham. He is the author of Confessions of a Microfinance Hereticwhich is reviewed on page 24.

Hugh worked with Barclays before and during his undergraduate degree inEconomics at Durham. Graduating in 1995, he spent a year travelling andworking in South America, returning to Durham to do an MSc, after whichhe worked in corporate finance at ING Barings. He studied an MBA in1999 at IESE Business School in Barcelona and, after a brief spell at Enron,moved into the microfinance sector, where he works to this day. He hassince lived in Mexico, Holland, Mozambique, Mongolia and Argentina.

Q. What is your current role?

A. I am a board director of anEcuadorian bank and a microfinanceconsultant, based mainly in SouthAmerica. I also increasingly work in renewable energy.

Q. What are your fondest memories of your time in Durham?

A. Lazy summer afternoons by the river‘revising’; Adrian Darnell’s course‘Econometric Theory’; jumping outof aeroplanes at Peterlee ParachuteCentre; the Geordie accent; andwalking through Durham at 6am on a Sunday after a heavy snowfallbefore anyone else was awake.

Q. Do you feel that your Durham degree and connections have helped your career?

A. I returned to Durham to do an MSc,this provided the basis for my entirecareer. I’m still in contact with someof the professors and friends I madesome 20 years on. Durham is a superbuniversity and not so intense as toexclude having fun.

Q. What is the most exciting thing you have done since graduating?

A. In 2001 Nick Alcock (a friend fromDurham) and I set the GuinnessWorld Record for the fastestmotorcycle journey from the northcoast of Alaska to the Southern tip of South America.

Q. What prompted you to write yourbook – Confessions of a MicrofinanceHeretic?

A. After a decade working in themicrofinance sector I becamedisillusioned. The sector had growninto a ‘fashion’ and those sogenerously financing this bubblewere largely unaware of the reality of what actually happened in thedeveloping countries. I wanted toexplain this reality, in an attempt to improve what could be a verypowerful tool to fight poverty, but is alas all too often abused.

Q. If you were to offer some advice tocurrent students, what would it be?

A. Take a year off after you graduateand explore, learn a new language,focus on what you really want to do –what makes you passionate, and notupon what appears ‘sensible’ or a

‘wise career choice’. The wisest careeris the one that you love the most.Also, if you have the chance tocontinue studying, a masters or aPhD, take it. Such decisions becomeharder each year, and the workingworld will always be there when youfinish studying.

Q. What about your plans for the future?

A. Now branded as a whistle-blower myoptions are increasingly limited, but I never worry too much about thefuture, something always turns up. I may do a PhD; or open a pizzarestaurant; or remain in finance –but I’m not losing any sleep overwhich it will be. If this book promptsinvestors and regulators to improvethe microfinance sector I would loveto be involved in the clean-up, but ifnot, I think I’ll try something new.It’s never too late to change.

Q&A Dates for the Diary EVENTS

DURHAM SPEAKER SERIES Brand Strategy – Jo Fairley,

co-founder of Green & Black’sChocolate

25 OctoberAndaz Hotel, London, UK

Leadership – Howard Webb,UK Premiership Referee

29 NovemberDurham Business School,Ushaw College, Durham, UK

LOCAL ASSOCIATIONGLOBAL GET-TOGETHER

6 December

RECRUITMENTEVENTS

QS MBA FAIRS Dublin, Ireland – 2 October

London, UK – 6 OctoberFrankfurt, Germany – 20 October

ACCESS MBA FAIRS Geneva, Switzerland – 13 October

Vienna, Austria – 15 OctoberSofia, Bulgaria – 8 NovemberBucharest, Romania – 10 NovemberDubai, UAE – 24 November

QS WORLD GRAD FAIRS Paris, France – 6 October

London, UK – 27 October

BRITISH COUNCIL FAIRS Athens, Greece – 3 and 4 November

Cyprus – 7 and 8 November

PREVIEW/OPEN EVENTS

For a list of preview and openevents, please visit the BusinessSchool website atwww.durham.ac.uk/dbs/degrees/mba/ft/events

Please note that some dates,speakers and venues are provisionalor yet to be confirmed.

WOULD YOU LIKETO HELP PROMOTE DBS?We regularly attend education fairsaround the world and love it whenwe are joined by alumni. Not onlydoes it give us the opportunity tocatch up with you, but prospectivestudents really value the opportunityto speak with our graduates. If youwould like to volunteer to help at a fair in your country we would liketo hear from you.

FOR FURTHERINFORMATIONTo book places for these eventscontact the Alumni Team on: Email: dbs.events@durham.ac.ukTelephone: +44 (0)191 334 5277

2726

DBS Alumni Global Network

local association news26

SHANGHAI Over the summer, Professor Rob Dixon,Dean of Durham Business School, and Alex McNinch, Alumni RelationsManager, launched the first DBSInternational Committee (DBSIC) in China.

Active members from the alumnicommunity were invited to join thecommittee and help to move forwardthe School’s agenda in China. Theirprinciple objectives include encouragingthe continued flow of high-achievingstudents and developing a supportnetwork for recent graduates in order to assist them in the advancement of their careers. The next meeting is scheduled for December 2012.

HYDERABAD In June, David Thornber, DurhamUniversity Regional Manager (South &Central Asia), visited India to representthe University at a number of admissionsfairs. Alumni based in the Hyderabadarea took the opportunity to hold a get-together at the Sailing Club Annexure to honour his visit.

JORDANLocal Association Leader, Zu’bi Al-Zu’bi,organised a get-together with fellowDurham alumni in Amman, Jordanduring August, to celebrate the start of the holy month of Ramadan.

BEIJINGChristine (Huifang)Liang was recentlyappointed as the new LocalAssociation Leaderin Beijing. Afterfinishing her MBA

in 2002, Christine worked for severalyears in an investment bank in HongKong. She intends to continue formerleader Abby Wang’s great work inconnecting alumni via networking andsocial events. Christine would welcomeany ideas you have for strengthening the network. Please contactdbs.alumni@durham.ac.uk and we willforward your suggestions.

Abby Wang recently started her own business in sea fishing(www.luremaniac.com) and we want to take this opportunity to thank her for all she has done for the Beijing Local Association and we wish her every success in her new venture.

Local Associations are the perfect way tokeep in touch with other DBS alumni inyour area. The final Global Get-togetherdate for this year is 6 December. As usualthis is just a guide. If it is more convenientfor your group to meet at another dateand time please do so.

If you are interested in joining theseor any other groups throughout theworld – in your location or perhapsin a business area you frequent –please email us and we will put youin touch with a Local AssociationLeader. Alternatively, if there is notyet a local association in your area,contact the Alumni Team and we can investigate setting one up.

We look forward to hearing aboutyour events and receivingphotographs. If you require any helpin arranging a get-together please doget in touch.

L to R: Gemma Pan (MA 2002-03), Alex McNinch, Abby Wang (MA 2004-05), Richard Chen (MBA 2002-03), Elaine Chen (MBA 1998-99),Alex Hu (MBA 1999-00), Professor Rob Dixon, Reggie Lai (MBA 2000-01), and Ocean Wang (MBA 2008-09).

The MBA Class of 1987 are arranging

a reunion lunch in London on Saturday

17 November. Classmates Nicola Foster

(née Fraser), Derrick Ahlfeldt and Stephanie

Dale are coordinating the event with help

from DBS and they have had a good initial

response from their invitation. If you are

a 1987 MBA graduate and want to find

out more please contact Nicola via

dbs.alumni@durham.ac.uk for full details.

04 I DEAN’S WELCOME/NEWS 06 I ALUMNI UPDATE 08 I THE SPIRIT OF DURHAM

10 I FORAGING ECOLOGY AND CONSUMER BEHAVIOUR 12 I BUSINESS PROJECTS BUSINESS POTENTIAL 14 I D8

16 I LESSONS ON LEADERSHIP FROM EURO 2012 18 I LESSONS ON LEADERSHIP FROM EURO 2012/INTRODUCING…

20 I GRADUATION

22 I CLASS NOTES 24 I BOOK REVIEW/Q&A 26 I LOCAL ASSOCIATION NEWS/DATES FOR THE DIARY

4

Dean’s Welcome

There has been much to celebrate over the past 12 months, not least the cutting of the first sod andcommencement of the expansion of the Business School.

The rebuild and refurbishment projecton the current Mill Hill Lane site willsee Durham Business School undergo a major transformation resulting in aninspiring fit-for-purpose modern facilityto match its teaching reputation. Works comprise an extensive remodel,including structural alterations to thecurrent internal spaces and the creationof two new blocks of two and threestoreys. The new blocks will be linkedto the existing building and form twodistinct courtyard areas. A new curvedwalkway, created through the use ofstructural glazing, will provide access to the courtyard areas. The School willalso benefit from four new lecturetheatres including a Harvard-styletheatre that enables an interactive stylelearning experience. In order to limit its carbon footprint, the building willincorporate a number of sustainablefeatures including a ground source heatpump system, solar controlled glazingand improved heating and air circulationsystems. Work is due for completion

in September 2013 and until then wehave temporarily relocated to UshawCollege on the outskirts of the City. If you are interested to learn moreabout the redevelopment, please visitwww.dur.ac.uk/dbs/about/development

In anticipation of the physical expansionof the School, we have recruited to anumber of new academic posts and inthis issue, on page 19, we introduceone of the recent additions to thefaculty – Professor Mike Humphreys.

Recent successes for the School includeour Global MBA being placed 7th inthe world in the 2012 QS DistanceOnline MBA Ranking. This is currentlythe only report that ranks accreditedonline, distance and hybrid MBAprogrammes. Of the featured top tenschools, Durham Business School is one of only four that boasts tripleaccreditation from AMBA, EQUIS and AACSB. I would personally like to congratulate the Global LearningCentre for developing the programme,especially the blended learningelements of the course which make it such a popular choice for today’sbusy professionals.

As a research led institution, it isimperative that we share what ouracademics are working on and make it as relevant to today’s business worldas possible. In this issue we have atopical piece by Professor Birgit Schynsand Dr Graham Dietz titled ‘Lessons on Leadership from Euro 2012’ (pages16-18), as well as an article on an areaof marketing into which Dr Victoria Wellsis researching – ‘Foraging Ecology andConsumer Behaviour’ (pages 10-11).

To celebrate the end of anotheracademic year, it is fitting that we sharewith you some great memories of ourmost recent Congregation ceremony.Pictures of our celebration reception at Palace Green Debating Chamber can be found on pages 20-21.

Finally, the School will celebrate its50th anniversary in 2015 so I inviteyou to share with us your memories,mementos and photographs so that wecan record its rich history. As we planour celebrations please contact AlexMcNinch at dbs.alumni@durham.ac.ukto share your contributions and ideas.

Professor Rob Dixon,Dean

As we look forward to anotherexciting year, I would like to thankeveryone who has contributed tothe success of Durham BusinessSchool over the past 12 months.

School NewsBUILDINGS UPDATE

As featured in the Dean’s Message, workon the expansion and refurbishment ofthe DBS Mill Hill Lane site continuesapace. Demolition, excavation andrebuilding activities are well underwayand the project continues to progress onprogramme. In addition, at Queen’sCampus the extension of the WolfsonBuilding is now complete and BusinessSchool marketing faculty along withpostgraduate support staff, moved in at the start of August. This new facilityprovides 18 academic offices, an openplan research study area for 24 students,a seminar/study room for postgraduatestudents and an open plan office forsupport staff. With views over the RiverTees, the building is an attractive settingfor the new Experimental Science Labwhich has a main laboratory with 23experimental spaces for individualparticipants, a soundproof room for one-to-one observations, and a seminar roomwhich can be set up for both groupobservations and individual experimentsfor up to 20 participants.

RANKINGS NEWS

As well as the success of the School’sGlobal MBA in the QS rankings, the mostrecent Financial Times Masters in FinanceRanking placed our programmes 25th inthe world and 7th in the UK – excellentprogress and a rise since last year.

SCHOLARSHIPAWARDS

The winner of theDBS/IndependentMBA Scholarship(full-time) hasbeen selected.Eunice Benedicto(pictured), an

accounting analyst from Texas, USA, willjoin the full-time MBA 2012 programmein Durham this September. This is theseventh time the scholarship has beenoffered. The successful Executive andGlobal programme applicants (DavidBeeton and David Makepeace) wereselected in December and began theirstudies at the start of this year.

GLOBAL LEARNING CENTRE

The first workshop in the Global LearningCentre’s new Customer Insights Programmefor the Royal Bank of Scotland took placein May. Delegates numbered 15 and theprogramme, delivered by Dr Julie Hodgesand Dr Mike Nicholson, concluded withan inaugural dinner in Durham Castle.

SAUDI ARABIAN VISITORS

A group of 20 Executive MBA studentsfrom King Abdulaziz University in SaudiArabia came to Durham for an InternationalStudy Week in June. Their visit included a four-day course on InternationalStrategic Management and a London tour with a company visit hosted by BBC Television Centre.

QUEEN’S HONOUR

Congratulations go to former DBS staffmember Sheena Maberly, (CareersDevelopment Manager at DBS 2000-04),who was awarded the MBE for services toHer Majesty’s Prison Service in the Queen’sbirthday honour’s list. Sheena’s currentrole is Regional Head of Learning, Skills& Employment North East Prisons.

5news news news news news news news news

DURHAM UNIVERSITY WELCOMESHER MAJESTY THE QUEEN

In July Durham University hostedHer Majesty The Queen and His RoyalHighness The Duke of Edinburgh aspart of their Diamond Jubilee tour of the United Kingdom.

The Royal couple visited Durham Castle,home to University College, where theyhad lunch with dignitaries and students inthe Great Hall. They last visited DurhamCastle in 2002 during Her Majesty’sGolden Jubilee celebrations. On thatoccasion The Duke of Edinburgh alsotravelled to Durham University’s Stocktoncampus to announce that it had beenawarded the title of Queen’s Campus.

DURHAM’S NEWCHANCELLORINSTALLED

The installation, in June, of SirThomas Allen asthe University’snew Chancellorwas a magnificent

occasion. Sir Thomas, 67, received theChancellor’s robes and cap and took theoath of office at a ceremony in DurhamCathedral. He is the University’s 12thChancellor, taking on the role from authorBill Bryson who attended the ceremony tohand over the robes of office to Sir Thomas.

HONORARY DEGREES

During Congregation ceremonies heldover four days in June, honorary degreeswere awarded to a range of luminariesincluding: Philip Pullman (DLitt), DavidInshaw (DLitt), Biddy Baxter (DLitt),Jeremy Vine (DCL), Brent Cheshire (DSc),Charles Wilson (DCL), John Rutter (DMus),Irina Bokova (DLitt), and Gary Fildes (MSc).

JON LORD, COMPOSER OF THEDURHAM CONCERTO

Jon Lord, a friend of the University, sadlydied in July aged 71. His most well-knownclassical work, the ‘Durham Concerto’,was commissioned by the University forits 175th Anniversary in 2007. Jon isperhaps best known however as thekeyboard player with Deep Purple. CDs ofDurham Concerto, recorded at its Worldpremiere in Durham, are available fromthe University’s online shop:http://shop.durham.ac.uk

University News

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Alumni – UpdateWelcome to the autumn edition of your alumni magazine. We are nowwell and truly settled in our new (temporary) home at Ushaw College.Our new location is proving to be exceptionally popular with studentsand the alumni and external guests who have sampled the delights of the hospitality in the Parlour and Refectory. Our most recent guestswere members of the MSc 1977 cohort who were celebrating the 35thanniversary of their graduation from the Business School. One of thenatural born leaders of the group, Peter Pearson, kindly recounts talesof their reunion on pages 8-9.

You may recall that in the last issueI wrote about improvements that theSchool has made to the alumni networkover the past 12 months. Changes wehave made include a greater focus on serving our international alumni.We have introduced a programme of refresher seminars events andenhancing recruitment and networkingopportunities with the inclusion ofprospective students and externalcontacts of the School. Subsequently,the D8 initiative was launched in eightof our most significant markets – visitpages 14-15 to read more about theD8 schedule and the six cities thatDBS has already taken by storm!

I am once again delighted to havesuch a strong alumni contribution tothis edition of our alumni magazine. In addition to Class Notes and LocalAssociation News, we have a review of the book ‘Confessions of aMicrofinance Heretic’, which wasauthored by alumnus Hugh Sinclair(BA 1992-95 and MSc 1996-97), and was published in July. The reviewis written by another alumnus – SahilMalik (MBA 2009-10) and can befound on page 24. Hugh is also thesubject of our Alumni Q & A feature(page 25).

An essential element of a modern globalbusiness school is collaboration withthe business world. One activity, thatis highly beneficial to organisations,

is the free consultancy we provide inthe form of student Business Projects.These projects, which are an assessedpart of the students’ studies, oftenlead to new opportunities. This is thesubject of our feature on pages 12-13.Cyril Lebel (MBA 2010-11) was giventhe opportunity to work on a project for Vodafone over the summer of 2011and has continued to do so, whileSteve Prior (MBA 2004-05) set up his own business, Forest Carbon Ltdfollowing his successful businessproject.

Many of you may be curious to know how the development work is progressing at Mill Hill Lane. Our on-site video cameras are capturing all the action and this will be madeavailable soon on our website as aseries of monthly time-lapse videos.www.durham.ac.uk/dbs/about/development

Those of you who are interested insupporting the future of the Schoolwill be pleased to learn that we areoffering alumni and friends theopportunity to have their nameengraved on a seat in one of the newlecture theatres. The ‘Take Your Seat’campaign (detailed on page 7) hasbeen created to facilitate alumniinvolvement in the redevelopment. All of the money raised through thiscampaign will be endowed to securethe future of Durham Business School.

The UK has been buzzing with Olympicexpectations since 2005 but it allcame to fruition in London this summer,and what a spectacle it turned out tobe! We would love to hear from you if you have Olympics or Paralympicsstories and photographs to share.

If you have any feedback on themagazine or the alumni association in general, please do get in touch as I would be delighted to hear from you.

Finally, following Alumni CoordinatorHayley’s move back to Ireland earlierthis year, I am pleased to announcethat Katharine Aspey joined the teamin August. She has previously workedat both the University’s Durham andQueen’s campuses and as well astaking on this busy role, she is studyingfor a part-time masters in marketingmanagement. I am sure you will joinme in welcoming her to the School.

Alexandra McNinchAlumni Relations Manager

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1. L-R Standing: Peter Manley, Geoff Moore, John Machin, Peter Pearson, Geoff Lodge, Bob Burns, John Thorley, George Bell, Jason Coleman. Seated: Liz Thorley, Anna Scharf, Alex McNinch, Therese Winter, Susan Burns, Brenda Machin. 2-3. Enjoying the atmosphere at Ushaw College. 4-10. Memories of Durham days – 1976-77.

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Here we go again. Another reunion –dangerous events these. Memory iskind, reality is not. Some of us met upafter 13 years in 1990. For others, theget-together in 2007 marked a gap of 30 years since we had last met. Then we just fell into an easy comradeship as though we had parted the day before.Extraordinary.

This reunion (July 2012) was nodifferent. Bob Burns (US), Anna Scharf(Germany) and Peter Pearson (Surrey)were the first to arrive, followed thenext day by Geoff Lodge(Buckinghamshire), George Bell andhis wife, Susan (Australia), Liz Thorleyand her husband, John (Darlington)and a little later, Phil Owen (Russia viaBridgend, South Wales) still with snowon his boots. Again we all simply tookup where we had left off – holding apint! Unfortunately, Peter and CarolineHerborn (also from Australia) wereunable to join us as Caroline had beeninjured in a car accident (fortunatelynot too seriously) that precluded flying.We wish her a complete recovery.

So our group represented a 23 per centturnout of the original 1976-77 cohort.Not bad really after 35 years, particularlyas, sadly, one or two of our intake havepassed on.

The appalling weather that hit theNorth East the previous weekend wasstill reflected in the flooded River Wear.And it still rained! Our plans for longtrips to Lindisfarne, Seaham and otherplaces were abandoned. We initiallyrestricted ourselves to Durham City and what a blessing this proved to be.

The soft magic of the place began toseep back once again into our DNA. We discovered nooks and cranniesnever come across before including the Old Fulling Mill, Museum ofArchaeology and the Durham HeritageCentre and Museum – the passage oftime was starkly demonstrated by someof us being able to claim pensionerconcessionary ticket rates!

The highlight of this reunion was onFriday with a tour of Ushaw Collegefollowed by a formal dinner presidedover by Professor Geoff Moore, DeputyDean (Learning and Teaching). UshawCollege, where the School is currentlybased during the development of theMill Hill Lane site, is an astonishingbuilding. We were fortunate to have as our guide Peter Seed, Director ofEstates and Facilities at the college, whoimpressed us with his deep knowledgeof the history of the buildings.

We had met earlier with Bahadur Najak(‘Naj’) and were delighted that two moremembers of our faculty, Peter Manleyand John Machin, with his wife, Brenda,were able to brave the rigours of theEnglish summer and join us for the(absolutely delicious!) dinner. Weexpressed to Naj, Peter and John ourcontinuing gratitude for what they haddone for us during ‘our year’ in Durham.

In saying a few words after the meal,Peter Pearson thanked AlumniRelations Manager Alex McNinch andLynn Thornber for helping us to puttogether the reunion; announcing thatthe alumni present would back the

‘Take your Seat’ campaign and sponsor

one or more seats in the new BusinessSchool lecture theatre. We are hopefulthose alumni not able to join us will alsodonate and participate in this, the mostexciting development in the history ofthe Business School.

Saturday saw us take advantage of someimproved weather by visiting BowesMuseum in Barnard Castle. What astunning place this is both for itsarchitecture and for its world class art,ceramic and silver collections. After pre-dinner refreshment back in Durham a decision was taken to have a meal in a certain Italian eatery. After an hour’swait for a first course of minestronewhose coldness was only matched by its greasiness, six of the finest businessmanagement brains that DurhamUniversity Business School have everproduced staged a walk out, repairing tothe chippy across the road. Fish & chipsnever tasted better!

The remainder of the weekend includedsupport of one or two of Durham’s otherhostelries neglected during the previousthree days and enjoying the City’sInternational Brass Festival which filledthe streets with music.

This reunion enabled us to renewfriendships, re-engage with thespirit of Durham, revisit the placesassociated with the year that changedour lives, and honour those who madethat change happen. On all counts avery successful weekend. Please markyour diaries for July 2017!

The Spirit of Durham35 years after the MSc class of 1976-77 left Durham, they returned to the City they hold so dear and here,alumnus Peter Pearson recounts the tale of their reunion.

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If you feel inspired to reunite with your fellow cohort members, please contact the Alumni Team who will be happy to assist.

Patch and PreyTwo central ideas within foraging theoryare patch and prey. Patches are simplyphysical areas within a habitat, often welldefined, in which an animal can find foodor other materials it needs for survival.The obvious analogy for human consumerswould be physical area such as a shop or a mall but the patch does not have to apply to definite physical boundariesand might instead form the acceptableshopping area or the shops the consumeris aware of or evaluates positively.

In turn the prey is the food or othermaterial the forager seeks within one or more patches. The obvious analogyhere is the product, brand or service theconsumer seeks to buy. From this animalsmake two main choices: ‘within patchchoices’ (choices over which prey toconsume), and ‘between patch choices’(choice between shops or shopping areas).

Within Patch ChoiceClassic prey selection models makeassumptions about animal behaviour,which appear to also be demonstrated inhuman consumption behaviour. An originalassumption was that the predator is ableto recognise prey types perfectly and

instantaneously but this, with both animaland humans, is not always the case.Foraging theory has suggested that it ismore likely that signal detection is inoperation; that in some foraging situations,predators learn that certain types offeeding opportunities are signalled by theoccurrence of environmental events suchas a light, other animals behaviour etc.Consumers also detect signals, the mostobvious and commonly used being thebrand mark or name. Classic prey modelsalso originally made the assumption ofoptimality, that the profitability (the pricevs value) of prey is known and all decisionsare made based on this. More modernforaging theory reflects that predators may not act optimally for two reasons:misidentification of prey and sampling.This too seems to be the case forconsumers. While consumers know thebrands they buy often well (but often notas well as they think they do), they willsample other brands or products out oftheir usual repertoire, to test what else isout there and to ensure they’re not missingout, or alternatively, they are prompted to sample by price promotions. However this has not been extensively tested andforaging theory can provide the vehicle for this.

Between Patch ChoicesCurrent consumer research is basedlargely on the initial reasons to choose aretail environment including, for example,location, household income, family sizeand centre or shop attractiveness.Foraging theory highlights others areas,under-researched in the consumerliterature which may be important. Thedecision to remain in a shop or patch, aswell as how often to return to it, is of vitalimportance in foraging theory but thesewider shopping patterns are less wellknown within consumer literature. Whilerecent research has suggested that multi-shop trips are common (between 40-74per cent depending on type of purchase)this significance is not reflected in theliterature. Foraging theory devotessubstantial time to multiple patchshopping patterns and accounts for thesetrips in terms of quality (and in particularchanging quality) of patches and the needonce again for sampling of alternatives.Utilising models studied widely in foragingtheory (such as the marginal valuetheorem) will help us to understand these patterns of store choice better andconcentrate on the multi-store patternsthat are evident in so much of ourconsumer behaviour.

Foraging Ecology andConsumer Behaviour

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We generally believe our behaviour is very different to that of the non-humananimals around us but recent work has shown that it may be quite similar.Building on work in behavioural psychology, animal experimentation andinformation foraging, Dr Victoria Wells, a member of the Marketing facultyat Durham Business School, is exploring the relevance of foraging ecologymodels to consumer behaviour.

Social ForagingSocial Foraging, compared to the otherareas of foraging research studied above,has received far less academic attentionbut provides valuable insights into thepotential behaviour of consumers andpotential research areas for futureresearch development.

One theory in this area, Ideal FreeDistribution (IFD), is directly related toresearch on crowding behaviour and inparticular is concerned with how crowdingwill lead to a forager moving to a differentpatch and when this would happen. As noted above, while much research in consumer behaviour has studied theantecedents of retail choice little researchhas studied the points at which consumersleave particular retail environments andwhy. Crowding, via social foraging theorymay help to explore this.

IFD is also concerned with the idea ofcompetitive influence and how interactionsbetween consumers could reduce searchand purchase efficiency through to theextremes of kleptoparasitism (outrightexpropriation of food from its finder),areas which could add to the growinginterest in consumer ‘misbehaviour’.

Social Foraging as a wider area looksdirectly at how two or more individualsconcurrently influence each other’senergetic gains and losses and that thereare identifiable, mutual relationships.This research also makes the distinctionbetween aggregation (a group who happento go shopping at the same time) and asocial group (consumers who go shoppingtogether). This leads on to questionsregarding the efficiency of different groupsizes and composition when shopping andthe multitude of currencies (or reasons forshopping) that can affect this.

Affluent ForagersWhile foraging theory is predominatelystudied from the perspective of animalbehaviour, another area of foraging theory,from anthropology and archaeology shedsadditional light on foraging within humanpopulations. This area explores ‘affluentor complex foragers’, who exist in habitatsthat are described as productive ratherthan harsh and provide a richer suite of natural resources, hence the foragersare more sedentary and a higher level ofeconomic complexity is seen. While thebehaviour of animal foragers is about‘survival of the fittest’, the behaviour ofaffluent foragers is more complex andarguably has more similarities to humanconsumption behaviour.

Looking AheadSo far the work has been theoretical and the next step is to collect data to doempirical analyses comparing consumerand animal behaviour directly. Of particularinterest is the patch behaviour ofconsumers, in essence where they chooseto shop and why. Developing an idea ofconsumers’ ‘shopping territory’ throughmapping techniques and accompaniedshopping trips will allow researchers to geta better idea of how and why consumersuse the shops and shopping areas they doand how this changes over time. It is hopedthat the outcomes of this research willhelp guide a wide range of professionalsfrom marketers and retail owners toshopping centre developers and city and regional planners.

For more information on this subject areayou can contact Victoria onv.k.wells@durham.ac.uk.

Dr Victoria Wells is a Senior Lecturer in Marketing atDurham BusinessSchool. Her researchfalls in the generalarea of consumerbehaviour andconsumer responsesto marketing actions.

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Go to any business school, Steve says,and you’ll keep hearing the word‘contacts’ – which is why so many investin an MBA. It’s a well-founded perceptionthat a business school is where fortune-changing networking opportunities can be found. But at Durham Stevediscovered that the old adage, ‘it’s notwhat you know, it’s who you know’ canbe turned on its head. He says that whatyou know comes first because your mostvaluable contacts will be the ones whoexpect you to have something of yourown to offer.

Steve says the two best bits of advicehe received during his MBA coursewere: a) contacts are vital and b) yourdissertation or business project period is your opportunity to acquire an area ofexpertise that someone might be willingto pay for in the future. This advice

proved to be correct and Forest Carbonstands firmly on the foundation of his business project (on UK forestry in emerging carbon markets), withSteve’s co-owner and co-founder beingsomeone he interviewed during theresearch process.

The acquisition of new contacts andknowledge was, he found, an easy andnatural part of his project work whendoors, usually closed, would be openedquite readily to a person undertakingresearch. In his case, the mostsignificant new contact he made waswith future business partner JamesHepburne Scott who at the time waschair of the Scottish Forestry and TimberAssociation and an active lobbyist forthe exploration of carbon markets byUK forestry.

Steve and James soon realised that,between them, they had the knowledgeand contacts to create a standard-settingvoluntary forestry offsets business.

“Meeting James halfway through myproject was a turning point”, says Steve.

“Suddenly we were building and testingan actual business model and thescience behind it.”

Until Steve (a former school headmaster)arrived at Durham he hadn’t given theKyoto Protocol or ‘carbon’ woodlandsmuch thought but it took just oneinspirational lecture from Tony Cockerill– on the role of economics in solvingenvironmental degradation – to set himon his new path. Later that year, when a business project in this field wasoffered, Steve grabbed it.

BUSINESS PROJECTSBUSINESS POTENTIALUndertaken as an alternative to the traditional dissertation, the connectionsmade during a Business Project can offer real payback. Here two DBS MBAalumni talk about their experiences and the benefits.

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According to Steve Prior (full-time MBA 2004-05), the success of Forest Carbon Ltd,the business he based on his own MBAproject, can be attributed to two things: niche expertise and contacts.

From the outset the project supplied himwith an abundance of new knowledgeand networking opportunities – includingthe meeting Steve secured with theirfirst potential client, Marks & Spencer.A fellow MBA student on study leavefrom M & S had heard Steve enthusingabout his new venture and arranged for Steve and James to speak to thecompany’s head of sustainability,primarily to test the viability of theirproposal. The unexpected bonus was a contract to sponsor five new nativewoodlands over the following year andForest Carbon was launched, foundedon a handshake at Paddington tubestation later that day.

In the meantime, Steve’s continuingresearch was providing access to leadinggovernment carbon offsetting policymakers who would, in the future,

commission him to write papers, attendconferences, and sit on expert panels in the UK and abroad. He also metinternational carbon industry expertsand received funding to present hisbusiness project findings at the UN2005 Conference of the Parties to the Kyoto Protocol in Montreal. Morerecently Steve was invited to join theexpert panel responsible for designingthe UK’s new Woodland Carbon Code,the industry standard for carbonwoodland projects.

Speaking about contacts from his MBAdays, Steve says: “It wasn’t just whatthey could ‘do’ for me – it was accessto their knowledge and experienceand also their challenges to my ownresearch and ideas. It all meant that,in the end, we had a business thatworked better.”

To date the business has planted3,500,000 trees across England,Scotland and Wales for partnersincluding The Green Insurance Company,Stagecoach, Kwikfit, Mears Group,Hallmark, sofa.com and BWOC. Of the60 projects – expected to capture over750 000 tonnes of C02 – most arealready registered with the WoodlandCarbon Code with the rest to follow.Steve says he’s sometimes stillsurprised, and very pleased, to findhimself working in such a green andpleasant world – the last place heexpected an MBA would take him.

Learn more about Forest Carbon here:www.forestcarbon.co.uk or email themon info@forestcarbon.co.uk

Created in 2006 with fewer than 50people, Vodafone Global Enterprise hasgrown exponentially reaching over 1,200employees in 2012. Cyril’s BusinessProject focused on cloud storage and its adoption in the enterprise.

Cloud computing had become abuzz word surrounded by hype andmisunderstanding. Clarification wasessential. In the consumer space,all of the methods of synchronisingdocuments among the growing numberof devices (PC, mobile phone, tablet…)are cloud based. However, businessesworry about security in its broadestmeaning and tend to refuse or limitthe adoption of cloud storage despiteobvious productivity gains and easeof use.

These issues provided an obvious wayfor Cyril to make use of recent learningfrom the core modules of the MBA

programme. He was especiallyenthusiastic about applying some of the frameworks around the diffusion of innovation discussed during the‘Strategic Innovation’ elective with Dr Pierpaolo Andriani.

Relying on interviews to collect most ofthe research data turned out to be bothan outstanding networking opportunityand the best way to discover theorganisation’s operating model andculture. Cyril was able to meet andinterview a wide range of specialists,who offered technical, marketing,strategic and operational perspectivesfrom engineer graduate level to seniorleadership. It took time and waschallenging given the schedules of these‘sources’ but the data collected wasworth it and the contacts made provedto be invaluable, above and beyond thescope of the business project itself.

The accessibility of these specialistsand their openness and willingness torefer Cyril to further contacts both withinVodafone Global Enterprise and outside,revealed a culture of openness andcollaboration, with a big appetite forinnovation and new challenges.

Given the strategic importance of cloudstorage and the growing commercialsuccess of the enterprise tabletproposition, Cyril was given theopportunity to continue working withVodafone Global Enterprise after hisBusiness Project was completed. Furtherresearch led not only to a white paperbut also to work around new propositionsand products now coming to market.

For Cyril the decision to undertake aBusiness Project was motivated by thepeople he met at the DBS networkingevent– it proved tobeanexcellent choice.

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Cyril Lebel (full-time MBA 2010-11) made the decision to take on a BusinessProject with Vodafone Global Enterprise during a networking event organised at DBS and has since joined the company as Global Service Manager.

D8 is a worldwide series of events designedfor our alumni, corporate partners andprospective postgraduate students, takingplace in eight of our most significant markets throughout 2012 and 2013.

In conjunction with the Global LearningCentre, the DBS Alumni Network hasorganised Continuing ProfessionalDevelopment workshops to enable alumniand students to engage with the School’svision of lifelong learning, and to provideprospective students with the chance toexperience DBS teaching.

Here are some of the events that have takenplace to date.

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MOSCOW: 19 APRIL 2012 – ARARATPARK HYATT MOSCOW

Theme: Crisis Management with Dr Mike Nicholson, Director of Durham Business School’s GlobalLearning Centre.

Irina Tolstova, an MA GLC alumnafrom the class of 2010 said: “It isgreat that DBS is arranging networkingevents for its students in almost everycountry. I enjoyed the informativelecture by Dr Mike Nicholson on CrisisManagement and meeting with Durhamalumni in Moscow. I am always inspiredby the leading faculty of DBS and thisis a great opportunity to meet my fellowstudents and alumni, as well as sharemy experience at DBS with newapplicants. These events make youfeel a part of the big internationalfamily of DBS and I hope it willcontinue growing all over the world,including in Russia.”

DUBAI: 18 MAY 2012 – MONARCHDUBAI

Theme: Finance for the non-financialmanager delivered Dr Aly Salama,Deputy Director of the PhD programmeand MBA module leader.

SHANGHAI: 21 JULY 2012 –INTERCONTINENTAL EXPO

Theme: Crisis Management with Dr Mike Nicholson, Director of Durham Business School’s GlobalLearning Centre.

Ocean Wang, an MBA from the classof 2008, enjoyed the event and said:

“DBS Alumni – when we are together,we are stronger.”

HONG KONG: 12 SEPTEMBER 2012 – CITY UNIVERSITY

Theme: Derivatives in the News –Understanding the Dangers of ExoticDerivative Products with Ian Whitfield,Senior Teaching Fellow in Economicsand Director of Undergraduate Studies.

NEW YORK CITY: 18 SEPTEMBER2012 – INTERCONTINENTALBARCLAY

Theme: Trust in Uncertain Times withDr Graham Dietz, Programme Directorof the MA and MSc ManagementProgrammes.

TORONTO: 20 SEPTEMBER 2012 –INTERCONTINENTAL TORONTOCENTRE

Theme: Trust in Uncertain Times withDr. Graham Dietz, Programme Directorof the MA and MSc ManagementProgrammes.

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D8 events are planned for London and India – details will be available in due course.

Are we in love with our organisational leaders a little too much?Here DBS academics Professor Birgit Schyns and Dr GrahamDietz look at what football – in particular Euro 2012 – can teachus about management.

Lessons onLeadershipfrom Euro2012

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In psychological research, there is aphenomenon called the ‘Romance ofLeadership’ (Meindl et al., 1995), whichexplores why, among all the things thatmight influence firm performance, it isleaders who are seen as the decisiveinfluence, the vital variable that makesthe real difference, especially whenperformance is unexpected, no matterif good or bad.

In business, the late Steve Jobs was theobvious example of one man’s super-ordinate, mythologised status over hisorganisation, while Nick Buckle, ofsecurity firm G4S, is currently on thereceiving end of a ‘romance of leadership’backlash for his role in the Olympicssecurity shortfall debacle.

Romance of leadership is especiallyprevalent in sports. For national teamcoaches – the leaders – their task androle in a major tournament is not onlyto lead a disparate group of players to potential success; it is also aboutmanaging, and ideally fulfilling, anation’s expectations of the team’sperformance. Very often the personality-driven media coverage assigns to theteam managers complete responsibilityfor their team’s performance, good orbad, regardless of whether this is reallyin their scope to influence.

To paraphrase Albert Camus, (almost)everything we two authors know aboutorganisations we owe to watchingfootball – which brings us nicely to the recent Euro 2012 tournament.

Take the English. In major tournaments,England always “underperforms”. In fact,Kuper and Szymanski (2009) haveshown that England actually performcompletely in line with their averageranking and past performance – crashingout halfway (but always, always unjustly),usually in the quarter finals. This is,obviously, not in line with England’s(absurdly inflated) public expectations,leading to an unedifying witch-huntthat typically ends with the manager’sdeparture.

This year seemed different. Expectationsfor the new manager, Roy Hodgson,were very low indeed, having only been

appointed weeks before the tournamentbegan, to little fanfare and plenty ofscepticism, and in defiance of ananalysis-free media campaign in favourof Harry. A promising draw against theFrench raised expectations, which wereheightened further after the 3-2 triumphover Sweden, after which Hodgson wassuddenly characterised as having “theMidas touch” (BBC, 2012). Anotherfortunate win, over Ukraine, saw theromance of Hodgson’s leadership go

into overdrive, only to come crashingback to planet Earth after England wereoutclassed by Italy in – yes – the quarterfinals. Happily for Hodgson, his shorttenure (and apparently genial mannerwith his media tormentors) means hehas been spared the brickbats. How longthis will last into the World Cup qualifierswe shall see.

Contrast England with teams likeDenmark and Germany, who havetrusted their managers more for thelong-term. Morten Olsen has been theDanish coach since 2000 and JoachimLöw went from German assistant coachin 2004 to head coach in 2006. Again,let’s have a look at expectations: beinga small nation with the accompanyingcaveat of a small pool of players tochoose from, Denmark’s expectations of going far in international tournamentsare rather modest. Indeed, qualifyingmay already be considered a success.And the Danes seem to understand thatthe best way to meet these expectationsis to have a stable manager, who hassignificant influence over all aspects of Danish football, including youthdevelopment.

German expectations are rather moreambitious; they expect to come homewith the trophy. Indeed, the Deutsche

Fussball Bund’s decision to retain Löw,despite overseeing a string of ultimate‘failures’ in the last three majortournaments, might be related to theseexpectations. Their planning is similarlylong-term, but for Germany it is to builda national team that will end their 16-year trophy drought in the near future.Germany fielded the youngest team in the Euros, and lost narrowly to Italyin the semi-finals. Both coaches willcontinue in their post.

Germany and Denmark’s patientperspective chimes with research intofootball manager tenure which showsthat frequent upheaval and leadershipchange does not improve teamperformance (Bridgewater, 2006;Hughes et al., 2010). Indeed, teamssuch as Denmark and Germany may be spot on to resist the romance ofleadership, and their attention to otherfactors affecting performance suggestsa more systemic view of managing for success.

In the modules we teach at Durham,and in much of our research, we arecareful to stress that senior leadership isbut one component of an organisationalsystem, and that performance has to beunderstood as a product of the complexinteractions between the differentsystem components, and theenvironment. The Burke-Litwin model(1992) of organisational change is onesuch depiction of a systemic approachto understanding what determinesperformance. Understanding where theproblem(s) is or are, in which variable(s),is the key to organising for success.

With this in mind, returning to Euro 2012,and working from the bottom of theBurke-Litwin model up, teams andorganisations of course need skilful,

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“In business, the late Steve Jobs was the obvious exampleof one man’s super-ordinate, mythologised status over hisorganisation, while Nick Buckle, of security firm G4S, iscurrently on the receiving end of a ‘romance of leadership’backlash for his role in the Olympics security shortfall debacle.”

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knowledgeable and motivated employees(players, and support staff), but it isapparent that individual brilliance is notenough (witness Ibrahimovic for Sweden,Ronaldo for Portugal, Pirlo for Italy).

Individual motivation, however powerful,can be obstructed by a poor atmospherein the workplace. Netherlands coachBert van Marwijk could do nothing to overcome the ‘pathetic egos’ andquintessentially Dutch fissures thatbroke out in his squad, with one playereven leaking team tactics beforematches. However, a positive teamclimate could not offset the skill levelof the England players, who averagedjust 36 per cent of possession in theirfour matches.

Cesare Prandelli, the Italy coach, hasbeen widely praised for transformingthe fortunes of the beaten finalists (The Guardian, 30 June 2012), notablyin the climate of the group and individualmotivation, introducing consultationwith the players, bestowing bespokeattention on key players and imbuing a set of cultural values linking the teamback to the fortunes of their country(with visits on foot to churches, andrunning training camps in the poorerregions of Italy).

As for systems and processes – tacticsand formations, in sport – these clearlyhave an influence in terms of shaping

what the employees (are supposed to)do, but many players ignore or forgettactics in the drama of a game.

Löw himself is reaping the benefits of a major overhaul of German football,which began after their calamitous earlyexit from Euro 2000, when they lost allthree group matches. The DFB undertooka radical review of its player development,tactics, training, the entire infrastructureandculture (TheGuardian27June2012).Working with Bundesliga clubs, German‘new thinking’ has produced a moreenlightened type of player – not justtechnically, but behaviourally as well.One word that is instilled throughouttheir education is ‘demut’ – humility.That is to say don’t make an exhibitionof yourself. Don’t be brash and selfish.

“These are golden rules.” (Amy Lawrence,The Guardian, 27 June 2012).

There are two interesting points aboutthe Germans’ management of change,with implications for competition inbusiness. First, they got the idea fromthe French. Trying to copy, or adapt,successful others’ main ideas –‘mimetic isomorphism’ – is a sensibleapproach to effective management, butdifficult to realise, because sustainablestrategic advantage is likely to besystemic in nature, not down to one ortwo components. Second, the Frenchthrived in the late 1990s, their goldengeneration winning the 1998 World Cup

and Euro 2000, but they have performedpoorly ever since. Likewise, most of the teams rushing to implement the‘Moneyball’ approach to sport havelearned two painful but obvious lessons:one, performance is relative to whatothers do, not absolute and, two,competition is creative and destructive,and hence unpredictable. The glory offootball in particular is its persistentcapacity to confound easy predictions,to surprise and bewilder. Success turns on moments. In his 2007 book,‘The Halo Effect’, Phil Rosenzweigmakes similar points on the delusion of simple explanations.

Spain have just completed a spectacularand awe-inspiring treble of successivetournament triumphs: they have ashrewd coach in Vicente del Bosque,they have the players, including theextraordinary Andres Iniesta; the teamenjoys a cohesive and productiveworkplace climate (for the most part)and a culture in which giving the ballaway is sinful; and they have (almost)perfected a rare and (currently)irresistible system of playing. They seem to have it all.

Can their entire system be copied, andcan it last? The brackets in the previoussentences provide the answer, to bothquestions. The first step, we suggest, is to see the system, not love the leader.

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What do you want to achieve? That’s a difficult question to answer.I shall be 65 years old in Decemberthis year and feel that I have alreadyachieved more than I would havebeen able to predict as a young man.Being a reasonably well-publishedresearcher, a fairly successful teacher,and a supportive colleague is enoughfor me.

What drives you? I try to avoid feeling driven – I preferto think that life just seems to ‘happen’to me.

What was the best career advice youwere given? I can’t recall ever being given anycareer advice!

What advice can you offer tostudents and alumni thinking of an academic career? I would have to know the individualstudent or alumnus rather well beforeI would presume to give them anyadvice. Several of my former PhDstudents now have academic careersand I would encourage them to aim high in their research andpublication strategy.

What are you currently working on at Durham Business School? I’m working on several things atpresent including: a paper onautoethnography with ProfessorMark Learmonth, Durham BusinessSchool’s Deputy Dean (Research); a paper on power and organisationalspace with Dr Alison Hirst, Universityof Bedfordshire; a paper on thepolitical marketing of the extremeright with Dr Mona Moufahim,Nottingham University BusinessSchool and Dr Patrick Reedy, HullUniversity Business School; and apaper on jazz and entrepreneurshipwith Professors Deniz Ucbasaran and Andy Lockett from WarwickBusiness School.

You can read more about Professor Humphrey’s research interests on the Academic Faculty section of the BusinessSchool website: www.durham.ac.uk/dbs

Professor Mike Humphreys, Professor of Organisation Studies Mike Humphreys joined Durham Business School earlier this year. As aNational Coal Board scholar he graduated in Chemical Engineering in1970 from Leeds University. Subsequently he went to work for the NationalCoal Board, moving into further education in 1974. He taught chemistrybefore taking up a post in science education at Bolton Institute of HigherEducation. It was then that he secured a masters and PhD from NottinghamUniversity, specialising in the management of technical education in Egyptand Turkey. He is now a respected specialist in the field of organisationalstudies and has written several papers and articles on organisationalidentity and management systems.

introducing......

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GRADUATIONCelebration was the order of the day on Thursday 28 June as BusinessSchool students proudly donned their graduation robes and processedinto historic Durham Cathedral.

In the presence of family, friends and staff, the graduands shook thehand of Sir Thomas Allen, the newly installed Chancellor of DurhamUniversity, and made the final transition to being a proud graduate of Durham University.

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The ceremony, known as Congregation,is a wonderful opportunity to markthe culmination of the great amountof work and commitment that eachgraduate has undertaken in order to be awarded their degree.

Congregation is the term Durhamuses to describe its graduationceremonies and means a gatheringof members and friends of theUniversity to witness and celebratethe conferring of degrees. This year,over a period of four days, 3,366graduands from over 80 countriesattended the Durham Congregationceremonies.

The School’s postgraduate graduatesreceived their degrees at the morningceremony, whilst its undergraduate’sachievements were recognised atCongregation event in the afternoon.

After the formalities, despite theEnglish ‘summer’ rain, celebrationscontinued with a drinks reception inthe Durham Union Society DebatingChamber on picturesque Palace Green.

This afforded the opportunity for the School to confer some of its ownawards, with presentations made by programme directors for a range of achievements see below:

AWARDS AND ACCOLADES

DBS/EBS EXECUTIVE MBAMarco Zohren: Winner, Highest Average MarkChristoph Maixner: Second place, Highest Average Mark

EXECUTIVE MA IN ENTERPRISE MANAGEMENTJansen Reyes: Winner, Highest Average MarkIan Robinson: Second place, Highest Average Mark

GLOBAL MBAChristine Wilson: Highest Average Overall and Highest Mark DissertationPaul Allen: Highest Average Overall Global MBA (Finance)Arshia Bhatti: Highest Mark Dissertation part-time MAKin Fung Chow: Highest Average Overall part-time MARoseanne Trotman: Dean’s prize for Best Dissertation – Executive MBA Caribbean

EXECUTIVE MBA 10John Alexander: Best Dissertation and Best Overall Academic Achievement

BETA GAMMA MEMBERSHIP was awarded to the following students in recognitionof their academic achievement. Executive MBA: John Alexander, Christopher Flynn,Sinno Salvatore, Tim Forber and Zaneta Whitworth. Global MBA students: ChristineWilson, Paul Allen, Kun Fun Chow and Arshia Bhatti.

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JOHN HANNAHMSC MANAGEMENT1979-80

I have very fond memories of Durhamand the Business School, and lookforward one day to returning with mypartner Jennifer. A few years back inrecognition for rescuing a lady from anattack, Jennifer and I were invested forbravery by the Governor of New SouthWales (Her Excellency Professor MarieBashir) at a ceremony in GovernmentHouse in Sydney. We received ourawards together, and walked down theaisle holding hands. The Bravery Medalis two below the Victoria Cross amongthe Bravery awards, and on the full list of awards 7th above the Order of Australia. I had sustained severalinjuries including a broken neck, backand hip, which has just been replaced.Now, after two-and-a-half years, I amfinally getting back to normal.

MARKO IVANCEVICGLOBAL MBA2009-11

After seven years of clinical researchin North America, working for PhilipsHealthcare on its managing researchproject with academic partners,Universities of Michigan and Chicago, I am moving to the PhilipsHeadquarters in the Netherlands, as Senior Scientist in charge of theglobal body/oncology MR researchprogramme.

TEJASWY RAMAFT MBA2009-10

My wife and I married on 11 March in Vishakapatnam, India. Sridevi is aChartered Accountant from Mumbai.We have had a rocking time and aregetting ready for our Malaysian tournext month.

GARY BISHOPGLOBAL MBA2009-11

I graduated this summer from my MBAat the Cathedral and my charity Justlifehas been going great guns since westarted back in 2009. Justlife provideshealth and social care interventions forthe homeless and vulnerably housedand earlier this year we made it throughto the semi-finals of the NationalLottery Awards. Unfortunately we didnot receive quite enough votes to be inthe televised final, but we were pleasedas a relatively small outfit to berecognised. Later this year we will belaunching a project in Brighton whereI have just relocated to with my family.To learn more about Justlife visitwww.justlife.org.uk

ANH DAO NGUYENMA HRM2004-05

I am now the Managing Director of‘Dress Up And Dance Ltd’ in London,which is focused on inspiringchildren’s imaginations. To celebrateLondon Olympics 2012, Dress Up AndDance has a variety of UK-themedsportswear to encourage children to bemore athletic as healthy mind needshealthy body. Coming from a developingcountry like Vietnam but living inLondon, I want to build a closerrelationship between the UK andVietnam. So I intend to introduce a range of products made in the UK to Vietnam, and products made inVietnam – particularly from disabledchildren – to the UK. To find out moreabout my business, email me atinfo@dressupanddance.co.ukThank you to my tutors and friendsat Durham for giving me the abilityto make my dreams come true.

LINDSEY GLEASONMA MANAGEMENT2011-12

Earlier this year I won the first roundof Durham’s Dragons’ Den Competitionand then competed in the Grand Finalin June – where I was awarded 2ndplace. The new company GLEAS willput student-athletes directly in contactwith international university coachesand athletic departments. We’refocusing on the UK at the moment and will be launching our website soon.

CLASS NOTES

I’ve recently accepted a position atiLUKA for the London 2012 Olympics,it is an international sponsorshipagency which connects global brandsat global sporting events. I haveDurham Business School to thank for the creation of GLEAS as well asmy involvement with the Olympics, I became aware of iLUKA throughTeam Durham.

EVA XINJING LIUMSC FINANCE2006-07

My husband and I studied MScFinance & Investment together inDurham, graduating in January 2008.Afterwards we moved to London and found jobs. We had a wonderfulwedding in Athens in July 2011 andseveral of our classmates attended. We recently celebrated our one-yearanniversary in a lovely Thai restaurantin London.

JOHNNY LUKBSC NATURAL SCIENCES (BIOLOGY,BUSINESS AND GEOGRAPHY)2009-12

I recently graduated from Durham andI will begin my career path on the CivilService Fast Stream as a Policy Advisorin the Department of Business,Innovation and Skills starting thisOctober. Being only 21, I will be oneof the youngest members in thedepartment – the average age for first year Fast Streamers is 26. I amconfident that my Durham educationhas equipped me to meet the challenge.

MARY DOUGLASSMA MARKETING MANAGEMENT2011-12

I originally came to Durham Universityas an exchange student in 2009 andhad such an enriching time that Icreated a short-term summer abroadprogramme for students from my homeuniversity, the University of California,to study in Durham and York in July2012. The programme was successfuland the students loved living in theDurham Castle. I got to serve as theon-site coordinator and had a lovelytime showing the students why Durhamis so perfect. This programme will runevery other year and will hopefullystrengthen the relationship betweenDurham and the University of California.

YVETTE REIDEXECUTIVE MBA CARIBBEAN2004-09

In 2003 when Durham BusinessSchool decided to offer the MBAprogram to the Caribbean with thebase in Barbados, I seized on theopportunity and became part of thefirst cohort, and by extension, becameone of the “guinea pigs”! Despitesuffering illness, by the grace of God, I was able to complete the programand had the privilege of attending my graduation ceremony at Durham’sCathedral in 2009.

TARUN PHOGAT FT MBA 2010-11

I am currently working as a SeniorBuyer in Landmark group LLC,headquartered at Dubai (UAE). My workinvolves procurement of home furnituremainly from China, Turkey, Malaysia,USA and India for 100+ stores in 15countries. Neetu and I got married inIndia in July 2012. When I first mether I was immediately drawn to herbeautiful eyes, big smile and easygoing personality and I knew she wasjust perfect. We had a fantastic dayand friends from around the world –including many Durham Alumni (nowof course friends for life) Stefan Wilke,Germany; Ben Clarke, UK; Anna Kranz,Germany; Alice Panepinto, UK;Barbara Sabitzer, Palestine, andRichard Wilson, UK.

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1. John Hannah2. Eva Xinjing Liu 3. Tejaswy Rama4. Anh Dao Nguyen5. Lindsey Gleason6. Yvette Reid7. Tarun Phogat

1 2 3 4 5 6 7

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BOOK REVIEW

Most of us have heard aboutmicrofinance, and it’s almost magicalclaim of being the panacea for all illsfor the world’s poor. Having workedentirely in microfinance since the2000s, Hugh Sinclair presents aninsider’s view of how this sector reallyworks. His bold and scathing exposéson many well-known globalmicrofinance institutions (MFIs) andfunds leave the reader spellbound.

Hugh explains that few MFIs actuallybenefit the poor (with some of themcharging interest rates as astronomicalas 144 per cent), and that many ofthem channel funds for their own self-interest. The case of LAPO in Nigeriais one such example of an MFI wherethe author has followed up on hissuspicions of their wrongdoing. Hugh’sethical standpoint makes him acrusader in this field, and he proceedsto whistle blow on the activities of his employer at the time, a Dutchmicrofinance fund, upon learning of its continued ‘assistance’ to LAPO inNigeria. It is also interesting to readabout Hugh’s experiences inMozambique and Nicaragua, where heinvestigates the real story beneath therosy picture being presented by MFIs.Hugh does not let any lead fizzle out;he follows it till he gets more evidencefor his work.

Hugh has not merely talked aboutMFIs which do not work. He has alsogiven instances of successful MFIs inMongolia and South America that haveworked wonders for the poor. This helpscreate a more balanced picture andalso affirms the fact that not all MFIsand funds are corrupt.

The reader will marvel at Hugh’sdogged pursuit in taking on corruptMFIs such as LAPO almost single-handedly. His hard work does pay off, as microfinance ratings agencieseventually do downgrade LAPO. Hughalso offers suggestions on tackling therot in the sector, so it is not a case ofmerely exposing wrongdoing and notoffering remedial solutions.

Even a lay reader will enjoy readingConfessions of a Microfinance Hereticas Hugh explains the intricacies of thissector in a simple manner. His personalanecdotes about the challenges ofworking in some of the world’s mostinhospitable places add colour to thebook. Additionally, one feels that as an author, Hugh has deep insight,knowledge and experience in the fieldof microfinance. His work on the groundlends him credibility, as he is notmerely ‘preaching’ about the subject.Apart from Hugh’s own expertise in thefield, he has backed up all his pointswith in-depth research.

All in all, I would recommendConfessions of a Microfinance Heretic,as this is indeed a book that will makeyou question efforts made to tackleglobal poverty. It will also make youthink twice about the claims made bymany MFIs and funds about their rolein empowering the needy.

One feels proud that a fellow DurhamBusiness School graduate has donesuch ground breaking work, which can truly help the global microfinancesector introspect on its weaknessesand correct its mistakes.

Learn more about Hugh Sinclair in theQ & A feature on page 25.

Confessions of a MicrofinanceHeretic – How Microlending LostIts Way and Betrayed the PoorSahil Malik (MBA 2009-10), gives his verdict on this recentlypublished book written by fellow alumnus Hugh Sinclair (BA Economics 1992-95 and MSc International & Corporate Finance 1996-97).

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Hugh Sinclair (BA Economics 1992-95 and MSc International & Corporate Finance 1996-97) talks about his career and life post-Durham. He is the author of Confessions of a Microfinance Hereticwhich is reviewed on page 24.

Hugh worked with Barclays before and during his undergraduate degree inEconomics at Durham. Graduating in 1995, he spent a year travelling andworking in South America, returning to Durham to do an MSc, after whichhe worked in corporate finance at ING Barings. He studied an MBA in1999 at IESE Business School in Barcelona and, after a brief spell at Enron,moved into the microfinance sector, where he works to this day. He hassince lived in Mexico, Holland, Mozambique, Mongolia and Argentina.

Q. What is your current role?

A. I am a board director of anEcuadorian bank and a microfinanceconsultant, based mainly in SouthAmerica. I also increasingly work in renewable energy.

Q. What are your fondest memories of your time in Durham?

A. Lazy summer afternoons by the river‘revising’; Adrian Darnell’s course‘Econometric Theory’; jumping outof aeroplanes at Peterlee ParachuteCentre; the Geordie accent; andwalking through Durham at 6am on a Sunday after a heavy snowfallbefore anyone else was awake.

Q. Do you feel that your Durham degree and connections have helped your career?

A. I returned to Durham to do an MSc,this provided the basis for my entirecareer. I’m still in contact with someof the professors and friends I madesome 20 years on. Durham is a superbuniversity and not so intense as toexclude having fun.

Q. What is the most exciting thing you have done since graduating?

A. In 2001 Nick Alcock (a friend fromDurham) and I set the GuinnessWorld Record for the fastestmotorcycle journey from the northcoast of Alaska to the Southern tip of South America.

Q. What prompted you to write yourbook – Confessions of a MicrofinanceHeretic?

A. After a decade working in themicrofinance sector I becamedisillusioned. The sector had growninto a ‘fashion’ and those sogenerously financing this bubblewere largely unaware of the reality of what actually happened in thedeveloping countries. I wanted toexplain this reality, in an attempt to improve what could be a verypowerful tool to fight poverty, but is alas all too often abused.

Q. If you were to offer some advice tocurrent students, what would it be?

A. Take a year off after you graduateand explore, learn a new language,focus on what you really want to do –what makes you passionate, and notupon what appears ‘sensible’ or a

‘wise career choice’. The wisest careeris the one that you love the most.Also, if you have the chance tocontinue studying, a masters or aPhD, take it. Such decisions becomeharder each year, and the workingworld will always be there when youfinish studying.

Q. What about your plans for the future?

A. Now branded as a whistle-blower myoptions are increasingly limited, but I never worry too much about thefuture, something always turns up. I may do a PhD; or open a pizzarestaurant; or remain in finance –but I’m not losing any sleep overwhich it will be. If this book promptsinvestors and regulators to improvethe microfinance sector I would loveto be involved in the clean-up, but ifnot, I think I’ll try something new.It’s never too late to change.

Q&A

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DBS Alumni Global Network

local association news26

SHANGHAI Over the summer, Professor Rob Dixon,Dean of Durham Business School, and Alex McNinch, Alumni RelationsManager, launched the first DBSInternational Committee (DBSIC) in China.

Active members from the alumnicommunity were invited to join thecommittee and help to move forwardthe School’s agenda in China. Theirprinciple objectives include encouragingthe continued flow of high-achievingstudents and developing a supportnetwork for recent graduates in order to assist them in the advancement of their careers. The next meeting is scheduled for December 2012.

HYDERABAD In June, David Thornber, DurhamUniversity Regional Manager (South &Central Asia), visited India to representthe University at a number of admissionsfairs. Alumni based in the Hyderabadarea took the opportunity to hold a get-together at the Sailing Club Annexure to honour his visit.

JORDANLocal Association Leader, Zu’bi Al-Zu’bi,organised a get-together with fellowDurham alumni in Amman, Jordanduring August, to celebrate the start of the holy month of Ramadan.

BEIJINGChristine (Huifang)Liang was recentlyappointed as the new LocalAssociation Leaderin Beijing. Afterfinishing her MBA

in 2002, Christine worked for severalyears in an investment bank in HongKong. She intends to continue formerleader Abby Wang’s great work inconnecting alumni via networking andsocial events. Christine would welcomeany ideas you have for strengthening the network. Please contactdbs.alumni@durham.ac.uk and we willforward your suggestions.

Abby Wang recently started her own business in sea fishing(www.luremaniac.com) and we want to take this opportunity to thank her for all she has done for the Beijing Local Association and we wish her every success in her new venture.

Local Associations are the perfect way tokeep in touch with other DBS alumni inyour area. The final Global Get-togetherdate for this year is 6 December. As usualthis is just a guide. If it is more convenientfor your group to meet at another dateand time please do so.

If you are interested in joining theseor any other groups throughout theworld – in your location or perhapsin a business area you frequent –please email us and we will put youin touch with a Local AssociationLeader. Alternatively, if there is notyet a local association in your area,contact the Alumni Team and we can investigate setting one up.

We look forward to hearing aboutyour events and receivingphotographs. If you require any helpin arranging a get-together please doget in touch.

L to R: Gemma Pan (MA 2002-03), Alex McNinch, Abby Wang (MA 2004-05), Richard Chen (MBA 2002-03), Elaine Chen (MBA 1998-99),Alex Hu (MBA 1999-00), Professor Rob Dixon, Reggie Lai (MBA 2000-01), and Ocean Wang (MBA 2008-09).

The MBA Class of 1987 are arranging

a reunion lunch in London on Saturday

17 November. Classmates Nicola Foster

(née Fraser), Derrick Ahlfeldt and Stephanie

Dale are coordinating the event with help

from DBS and they have had a good initial

response from their invitation. If you are

a 1987 MBA graduate and want to find

out more please contact Nicola via

dbs.alumni@durham.ac.uk for full details.

Dates for the Diary EVENTS

DURHAM SPEAKER SERIES Brand Strategy – Jo Fairley,

co-founder of Green & Black’sChocolate

25 OctoberAndaz Hotel, London, UK

Leadership – Howard Webb,UK Premiership Referee

29 NovemberDurham Business School,Ushaw College, Durham, UK

LOCAL ASSOCIATIONGLOBAL GET-TOGETHER

6 December

RECRUITMENTEVENTS

QS MBA FAIRS Dublin, Ireland – 2 October

London, UK – 6 OctoberFrankfurt, Germany – 20 October

ACCESS MBA FAIRS Geneva, Switzerland – 13 October

Vienna, Austria – 15 OctoberSofia, Bulgaria – 8 NovemberBucharest, Romania – 10 NovemberDubai, UAE – 24 November

QS WORLD GRAD FAIRS Paris, France – 6 October

London, UK – 27 October

BRITISH COUNCIL FAIRS Athens, Greece – 3 and 4 November

Cyprus – 7 and 8 November

PREVIEW/OPEN EVENTS

For a list of preview and openevents, please visit the BusinessSchool website atwww.durham.ac.uk/dbs/degrees/mba/ft/events

Please note that some dates,speakers and venues are provisionalor yet to be confirmed.

WOULD YOU LIKETO HELP PROMOTE DBS?We regularly attend education fairsaround the world and love it whenwe are joined by alumni. Not onlydoes it give us the opportunity tocatch up with you, but prospectivestudents really value the opportunityto speak with our graduates. If youwould like to volunteer to help at a fair in your country we would liketo hear from you.

FOR FURTHERINFORMATIONTo book places for these eventscontact the Alumni Team on: Email: dbs.events@durham.ac.ukTelephone: +44 (0)191 334 5277

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Business School

Alumni TeamAlexandra McNinch, Alumni Relations ManagerKatharine Aspey, Alumni Coordinator

Durham Business SchoolAlumni TeamUshaw CollegeDurhamDH7 9RHUK

t: +44 (0)191 334 5277f: +44 (0)191 334 5218e: dbs.alumni@durham.ac.uk

UK DBS Alumni Network Local AssociationsNorthern UK (based in Durham)Southern UK (based in London)

International DBS Alumni Network Local Associations Athens Beijing Canada Caribbean Denmark EgyptFrankfurt Ghana Gibraltar Hong Kong Hungary IndiaIndonesia Japan JordanMalaysia Mexico New ZealandNigeria Norway PakistanRussia Shanghai SingaporeSouth Africa South America SwitzerlandTurkey United Arab Emirates United States of America

To be put in contact with other alumni in your area, please contact the Alumni Team.

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