DECEMBER BULLETIN

From defence and food to real estate and kitchen design, ILF Scholar businesses have trumped their respective industries, taking home many major accolades this past month.

Read the good news in this edition.

CEO's Report

Despite the earlier rumours there would be no CEO's Report this month, I found writing this therapeutic. November was a month to start preparing for the year ahead at the ILF. The Scholars Committee welcomed Kelly Keates (ILF2012) in her new role as Secretary, Chantale Millard (ILF2017) as Treasurer and Emilio De Stefano (ILF2016) as Functions Member, along with new committee members Michaela Webster (ILF2021), Sarah Hibbard (ILF2019), Charlie Sykes (ILF2018), Peter Pillouras (ILF2014) and Zoe Detmold (ILF2016). The Committee agreed to an exciting event series for 2023; stay tuned for more details in the New Year. Speaking of events, the Season 3 Mentoring Finale was excellently organised by Christine Molitor (ILF2017), which you can read about in this edition.

The ILF Investment Committee and Board met prior to the AGM, endorsing three main changes:

• The ILF constitution was changed to simplify our objectives as suggested by the ACNC, and to allow the Secretary and the Functions Member of the Scholars Committee to apply to be members of the ILF itself.
• Stephen Myatt’s term as an ILF Board member concluded. Stephen was one of three founding fathers of the ILF and as Head SA for Ai Group sitting right next to Suzi and myself, he was our regular go-to as a reasoned sounding-board. Scholars also have good reason to be grateful as most of your grant payments would have been signed off by Stephen. On behalf of the ILF family, I record my thanks to Stephen for his invaluable contribution as an honorary Board member and look forward to his ongoing contribution through the newly-formed ILF Fellows group.
• Andrew Downs (ILF2013) was elected to be an honorary Board member. Andrew is already a significant contributor to the ILF and I am sure he will be a very valuable member of the Board.

Immediately following the AGM, the Board confirmed the elevations of Mark Canny to President and David Heaslip (ILF2012) to Deputy President/ Treasurer. This has resulted in Richard Colebatch taking over from Paul Haysman as Immediate Past President and leaving the Vice President’s position vacant. The Board unanimously elected Kris Lloyd (ILF2014) to that role. I thank Richard for his very hard Presidential work, often behind the scenes, to encourage the Board to become even better contributors, to guide me to greater success and all the time using his quirky and quick wit to make the process fun. He continued the very high standard of ILF President, building soundly on the foundations he inherited to ensure the ILF is set us up for ongoing success. It has been my honour and pleasure to serve with him. I look forward to assisting Mark and David in their new roles during the transition to my replacement, most likely during the next 12 months, and congratulate Kris on her election to the Board's executive leadership team. It is exciting to now have two Scholars on the team and an extra Scholar on the Board.    

During November revisions to the application system commenced, a website content review occurred, changes were made to the ILF webmail system to allow emails to be more readily transmitted to Scholars, thanks to input from Ryan Jones (ILF2022), and the annual returns were lodged with the ACNC. ILF Board members interviewed recruitment consultants and by the time this is published, the hunt for the new ILF CEO should be underway.

As Christmas approaches I hope you will take some time to reflect, congratulate yourself on your successes during the year, spend time with your loved ones and spend time doing nothing! All these things are essential to your good health and to restore your energy and focus, ready for more success in the New Year. 

Out and About

Here's a recap of the past month's meetings, functions and events:

• I participated in the Ai Group Melbourne Cup Lunch and won $8 in the $1 sweep. It is the biggest win in my recent life and I am contemplating how to use it productively!
• The Meet the Buyer event held by the Ai Group at the Entertainment Centre was a well organised event with lots of valuable tips for the many attendees. I met some very promising future ILF applicants.
• Also at the Entertainment Centre was the Global Uranium Conference. They stated assertively that nuclear electricity has the lowest death rate of any energy source used by man. They also believe Small Modular Reactors (SMR) are the best option for the future. SMR’s can be built quickly; they are air cooled which eliminates the risk of a meltdown and they are forecast to be cheaper to build per unit of output than their larger relatives.    
• I travelled to Port Adelaide to see Emilio De Stefano’s spectacular new heritage office and discuss the training program for 2023. Subsequently we with Suzi met DMAW Lawyers at their office to develop the program for the cyber breakfast seminar in February.
• I had green tea with The Advertiser reporter Brad Crouch in the foyer of their building. Brad, who specialises in health, is a great, trustworthy journalist. Soon after, a short and supportive article about the ILF appeared in the Will King column of The Sunday Mail.
• Morgan Stanley hosted an economics brief at which they forecast that inflation has peaked so the need to raise interest rates around the world will subside, the US Dollar will decline against most major currencies, recession will visit most countries but not Australia and China’s zero-Covid policy is likely to change soon.

Beyond Business

• In my director role I attended the Australian Institute of Company Directors Essential Director Update and the Governance Institute Public Sector Governance Forum. At the latter Dr Keith Suter AM, a well-respected economic commentator, listed off many of the economic challenges of today and drew parallels with previous events which all seemed huge then but now seem far less consequential. He also suggested that the manufacturers mantra of “just in time” is rapidly morphing to “just in case”.
• I was lucky enough to be invited to an Indigenous smoking ceremony in the South Parklands to mark the completion of the flood detention ponds near TreeClimb (see image below). It meant a lot to the participants and hopefully it helps to provide their community with a sense of worth that will ultimately translate into motivation to contribute more actively to society.   

• Remembrance Day at Centennial Park was superb. Several people I had not met there before said it was far more moving and intimate than other larger ceremonies elsewhere.
• With a group of other volunteers, I spent half a day shovelling garden loam into two large, raised garden beds at Catherine House.
• I donated plasma at Red Cross Lifeblood after a four-month absence due to Covid. Unbeknown at the time, it was to be my last donation.
• Lisa and I attended the 000 Ball at the Entertainment Centre with Richard and Tracy Colebatch as guests of Refined Real Estate. It was well catered, fun and loud. My hearing aid went flat quickly due to processing the volume!
• I missed Noah’s birthday on 30 November due to chest pain at 1am the previous Sunday morning. The pain turned out to be a heart attack, but quick intervention and first-rate care at Calvary appears to have minimised any lasting damage. I am told my blood is no longer acceptable at Red Cross Lifeblood.   

 My Life in the Army

Last month I explained how I was attempting to avoid promotion. Well, I failed two subjects in the promotion course series but was directed to attend supplementary tests, which I passed. My first failure was teaching a lesson about a 3.5-inch rocket launcher, depicted in this page from an Army manual, because I did not carry out proper safety precautions before the lesson. The Army is very strict about weapon safety and requires each person who picks up or receives a weapon to immediately check that it is fully unloaded. The rocket launcher weighed 13 pounds and the rocket weighed nine pounds. On picking it up, it was obvious the launcher had no rocket in it by how heavy it was, but that was not good enough; I was supposed to look inside. The other failure involved a tactical exercise without troops, where we were required to plan how to manoeuvre a taskforce of 3,500 imaginary troops.

During training, I was at the end of the queue for most things and always for food, thanks to my surname. So 'Adams' always chose steak or chicken while 'Watson' and I got leftovers such as bubble and squeak. I was popular because I always carried extra food on exercise which I shared with friends; my nickname was 'The Quartermaster'. The best thing was the rides in Iroquois helicopters, going sideways in tight corners and making vertical climbs until they stalled, or flying fast and low to the ground, or close to the sides of valleys.

Being in the Army was very unfashionable during the Vietnam War and we would arrive at the training depot in daggy clothes and change into uniform once inside. After commissioning I found the Officers' Mess always had good food regardless of where in the queue we were, and we also got first rides on the helicopters. That special treatment and the good friends I made convinced me to stick around long after the National Service obligation had expired.

The Army gave me the best employment opportunity for an economics graduate in my year as a money market dealer. The job involved transacting multi-million-dollar deals by phone and telex with financial institutions in the morning and taking clients to lunch most afternoons. At my interview, the state manager asked me a couple of quick questions before focusing on my experience in the University Regiment. Then he chatted about his time as Commanding Officer of the Melbourne University Regiment. Low and behold the personnel manager had good news for me when I returned to his office.  

The next excerpt will be about my experience as a commissioned officer at Melbourne University Regiment.       

Scholars in the Spotlight

With many Scholar businesses amassing major awards recently, we wanted to recognise these collective achievements rather than focus on the career path of one SA business leader, as we usually do for our Scholar in the Spotlight section. We will, however, continue to feature a Scholar of the month in 2023. If you would like to be included, please contact us so we can share your story.

At the recent 2022 Defence Industry Awards, Nova Systems {Rebecca McDonald (ILF2011), Dr Sarah Cannard and Cher Min Teo (ILF2014)} was part of a winning syndicate for the Teaming Award, while REDARC {Anthony Kittel (ILF2010), Ben Marsh (ILF2013), Tom Cross (ILF2020)} and Supashock {Oscar Fiorinotto (ILF2017)} were finalists. K-TIG {Ben Mitchell (ILF2022)} and Lumination {Edward Carlson (ILF2020), Thomas Hastwell (ILF2022)} were also finalists for the Innovation Award. With a record 686 people attending the November 3 event, the awards highlight the achievements and contributions of businesses working within Australia's defence industry.

At the 2022 SA Premier’s Food and Beverage Industry Awards on 11 November, La Casa Del Formaggio {Claude Cicchiello (ILF2014)} took out three awards – Business Excellence, Sustainability, and Education and Training – while Spring Gully Foods {Keetah Murphy (ILF2020)} won the Innovation in Business Award. The Legends for Life Award was given to Menz {Richard Sims (ILF2012) Phil Sims (ILF2017)}. Presented by Food South Australia and supported by the State Government, the annual awards recognise excellence, leadership, vision and innovation across the SA food and beverage industry.

Meanwhile, real estate royalty TOOP+TOOP {Suzannah Toop (ILF2021)} cleaned up at the Real Estate Institute of South Australia 2022 Awards for Excellence, winning gold for both Marketing and Communications and Large Property Management Agency, as well a silver medal for Large Residential Agency. Last but not least, SpaceCraft Joinery {Ellen Wundersitz (ILF2021)} won South Australian Kitchen Design of the Year at the 2022 HIA-CSR Housing and Kitchen & Bathroom Awards.

Congratulations ILF Scholars; keep up the great work in 2023!

Season 4 Mentoring Finale

Written by Gosia Davis (ILF2021)

Season 4 of the ILF Mentoring Program came to a close on 2 November with a function hosted by Deloitte. It was a reflective session facilitated by past scholars to help us build on what worked well in the program and areas for improvement, to continue benefiting future cohorts.

Geoff kicked off with a welcome, highlighting the 2,954 jobs that have been created by ILF Scholars since the start of the program. He also described the imminent handover process to the upcoming ILF CEO, timed for well into the new year. John Rawson welcomed us to Deloitte and acknowledged that South Australia is the only state that boasts the kind of support the ILF provides to innovative upcoming leaders.

The reflective part of the session, run by Christine Molitor and facilitated by Peter Piliouras, Eric van Ryswyk, Sarah Hibbard and Adrian Fahey, involved a speed-dating type exercise. Participants moved between four stations, identifying what went well, what was learnt, the usefulness of the guidebooks and suggestions for the future. The exercise allowed us to see our experiences in light of those described by others. My primary takeaway from this session was the reinforcement of the importance of diversity of thought. For example, two suggestions for improvements were "more structure" and "less structure"! Interestingly, as some of us participated as both mentors and mentees, this further supported the view that one-size does not fit all and we appreciated the flexibility offered by the program.

Christine emphasised that the end of the program does not necessarily mean relationships forged during the program need to end, and several mentees and mentors indicated they had found the experience beneficial for both parties and expect to continue meeting.

A big thanks to the facilitators on the day for injecting a bit of fun and rivalry into the exercise. And a special call-out and thank you to our mentors!

Upcoming Events

ILF Christmas Party

The ILF Christmas Party is one of the most popular events on the Scholars' Network calendar. Hosted by Gelista, the function will be held at the next-door Croatian Club. From there we will visit the Gelista factory in groups to see how the best ice cream in the world is made. Peter has even offered to provide ice cream to take home. With great food, quality drinks and fabulous company, the event has everything needed for a proper party. What a way to celebrate the imminent end of gruelling year!

Where: The Croatian Club, 15 Wood Ave, Brompton, and Gelista Premium Gelato, 20 Forster Street, Ridleyton
When: 12 December from 5.30pm to 8pm
Sponsor: Grant Thornton

RSVPs have officially closed; last-minute attendees have until COB today (Tuesday, 6 December) to let us know.

Save the Date

Diarise the following key dates and look out for further details in the New Year:

Cyber Breakfast Seminar
20 February from 7.15am to 10am
Sponsor: DMAW Lawyers

Scholars' Network Showcase 
3 April (TBC) from 5.30pm to 7.30pm
Sponsor: William Buck

Business Value Maximisation Workshop
16 June (TBC) from 12.30pm to 6.30pm
Sponsor: Grant Thornton

Business in Brief

Self-serve checkouts drive pay gap

Are you worried about new workplace laws? This article from Econometrica, the Journal of the Economics Society, cites MIT research that shows American men without high school degrees were making 15% less in 2016 than in 1980. Automation is mainly to blame, and will soon impact even the educated and future generations – i.e. our children. It's a trend they argue needs to be fixed, suggesting a different approach to workplace laws.  

Read the Econometrica article.

Manufacturers bear the brunt of cybercrime

According to this article from I by IMD, manufacturers are now becoming increasing vulnerable to cybercrimes, with large businesses such as Toyota suffering shutdowns due to cyberattacks on small suppliers. The article offers practical advice to help manufacturers protect their businesses.  

Read the I by IMD article.

Cyber crims return for seconds

In more cybersecurity news, this short article by London insurer Hiscox gives insights into the recent Hiscox Cyber Readiness Report, which is based on the views of 5,000-plus organisations across eight countries. The report found:

• over a third (36%) of companies who paid a ransom were subsequently re-targeted by cyber criminals
• more than four in 10 (41%) companies who paid a ransom failed to recover all their data
• phishing emails are still the most common point of infiltration for ransomware gangs.

Read the findings.

The rise and fall of computer chips

A sudden slowdown in consumer demand for electronic gadgets, US restrictions on sales to China and rising inflation are responsible for fresh challenges facing computer chip makers, according to this article in the Electronics Industry Development Adelaide (EIDA) December newsletter. The article says chip makers now face tough decisions on whether and when to boost production, amid uncertainty about how long the slowdown will last.

Read the EIDA article.

Making star decisions

Decision-making is a vital characteristic in good leaders, and this article from CPA Australia’s In the Black magazine includes a seven-point checklist to make effective decisions quickly. Tips include sourcing multiple views, using a 'decision tree' to plot possible outcomes and making decisions in the morning.

Read the In the Black article.

Towards zero mission

This InnovationAus.com article, reproduced in the Electronics Industry Development Adelaide (EIDA) November newsletter, discusses a $90m CSIRO research mission to decarbonise Australia's hardest-to-abate sectors while creating economic growth. The article presents a balanced analysis of the issue and offers insights into the involvement of industry partners.      

Read the InnovationAus.com article.

Scholars in the Media