VERTIV and technology analyst firm 451 Research have released a landmark report on the state of 5G telecommunications in Australia and globally.

The report, Telco Study Reveals Industry Hopes and Fears: From Energy Costs to Edge Computing Transformation, captures the results of an in-depth survey of more than 100 global telecom decision makers with visibility into 5G and edge strategies and plans. The research covers 5G deployment plans, services supported by early deployments, and the most important technical enablers for 5G success.

Survey participants were overwhelmingly optimistic about the 5G business outlook and are moving forward aggressively with deployment plans, with 12 percent of operators expecting to roll out 5G services in 2019, and an additional 86 percent expecting to be delivering 5G services by 2021.

According to the survey, those initial services will be focused on supporting existing data services (96 percent) and new consumer services (36 percent). About one-third of respondents (32 percent) expect to support existing enterprise services with 18 percent saying they expect to deliver new enterprise services. 

As networks continue to evolve and coverage expands, 5G itself will become a key enabler of emerging edge use cases that require high-bandwidth, low-latency data transmission, such as virtual and augmented reality, digital healthcare, and smart homes, buildings, factories and cities.

MOST EXPECT DELAYS

However, illustrating the scale of the challenge, the majority of respondents (68 percent) do not expect to achieve total 5G coverage until 2028 or later. About 28 percent expect to have total coverage by 2027 while only 4 percent expect to have total coverage by 2025.

“In Asia, operators are optimistic that they are ready to deploy 5G in the next few years. But with the growing reality comes a new set of challenges including increasing energy consumption, existing infrastructure readiness and visibility as well as manageability of sites,” Danny Wong, senior director for telecoms at Vertiv Asia said.

“There is all the more a pressing need for telecom operators to identify and utilise energy-efficient and innovative power and thermal solutions to make 5G a reality.”

To support 5G services, telcos are ramping up the deployment of multi-access edge computing (MEC) sites, which bring the capabilities of the cloud directly to the radio access network. Thirty-seven percent of respondents said they were already deploying MEC infrastructure ahead of 5G deployments while an additional 47 percent intend to deploy MECs.

“We’re seeing even greater emphasis on edge computing across Australia and New Zealand’s 5G preparation and rollout compared to some of our global peers,” Robert Linsdell, Vertiv managing director Australia and New Zealand said.

“Our dispersed geography makes it more challenging to create the high-bandwidth, low-latency experiences across the board that will be emblematic of 5G. But our technology leadership puts us in prime position to be a global leader for the critical infrastructure needed to support 5G, and the fact that we’re deploying and optimising the right technical enablers for that position now is very promising.”

DENSE NETWORKS CHALLENGE

As these new computing locations supporting 5G come online, the ability to remotely monitor and manage increasingly dense networks becomes more critical to maintaining profitability.

In the area of remote management, data centre infrastructure management (DCIM) was identified as the most important enabler (55 percent), followed by energy management (49 percent). Remote management will be critical, as the report suggests the network densification required for 5G could require operators to double the number of radio access locations around the globe in the next 10-15 years.

The survey also asked respondents to identify their plans for dealing with energy issues today and five years in the future when large portions of the network will be supporting 5G, which 94 percent of participants expect to increase network energy consumption.

Among the key findings were:

  • Reducing AC to DC conversions will continue to be an area of emphasis, with 79 percent of respondents saying this is a focus today and 85 percent saying it will be a focus five years from now.
  • New cooling techniques will see the biggest jump in adoption over the next five years. Currently being used by 43 percent of telcos worldwide, this number is expected to increase to 73 percent in five years.
  • Upgrades from VRLA to lithium-ion batteries also show significant growth. Currently, 66 percent of telcos are upgrading their batteries. Five years from now, that number is projected to jump to 81 percent.

“5G represents the most impactful and difficult network upgrade ever faced by the telecom industry,” said Brian Partridge, research vice president for 451 Research.

“In general, the industry recognises the scale of this challenge and the need for enabling technologies and services to help it maintain profitability by more efficiently managing increasingly distributed networks and mitigating the impact of higher energy costs.”

Vertiv released the report in conjunction with its participation in Dell Technologies World, a global exposition focused on digital transformation. During the expo, Vertiv also showcased a virtual reality (VR) experience that lets users build a sample 3D model data centre and interact with their creations through a VR system.

https://Vertiv.com/5Greport

www.Vertiv.com

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IF SHE HAD A DOLLAR for every time someone asked what Dreamtime was, Aunty Munya Andrews says she’d be a very rich woman.

Ms Andrews, who is an Aboriginal elder and barrister, runs Indigenous cultural awareness training with her partner Carla Rogers at Evolve Communities. She has also written a book, Journey into Dreamtime to help people better understand Aboriginal culture.  

“Of all the questions I get asked the most common are about the meaning of Aboriginal Dreamtime,” Ms Andrews said. “Aboriginal Dreamtime is for everyone, not just Aboriginal people.

“It is a spiritual philosophy that has as much to offer humanity as any other – such as Christianity, Buddhism or Hinduism. It can help everyone you cope with and master life, like any other belief system.”

An Indigenous barrister originally from the Kimberley region of Western Australia, Aunty Munya was raised in a remote Aboriginal community steeped in traditional law and culture. She is a specialist in intercultural interactions and has run Indigenous cultural awareness programs for over 30 years.

“Joseph Campbell, who wrote prolifically on world mythology, says religions are like computer software – if you don’t understand a religion, it’s only because you are not familiar with its programming language,” Ms Andrews said.

“My book Journey into Dreamtime is about helping people to understand that language by introducing them to Dreamtime concepts, such as sacred sites and song-lines.

“I teach people what Dreaming means and what it means to have a particular Dreaming like Kangaroo or Possum Dreaming on both a practical and spiritual level.”

Ms Andrews believes that most Australians want to know more about Aboriginal Dreamtime so they can forge a deeper connection with Indigenous people and have a deeper insight into the spiritual and psychic makeup of this land.

To that end, the book looks at a range of important questions about the Dreamtime, including: Why the Rainbow Snake known by that name and why it is deeply revered; What special role it plays in traditional healing; What are sacred sites and how they empower you; What it means to have kangaroo or possum Dreaming; How you discover your ‘Dreaming’ and what it can teach you. 

 “What’s more, it’s indigenous to this land and can foster a deep sense of belonging to people who come from other shores,” Ms Andrews said.

“After all, we’re all Australians and we have much to learn from each other.”

 www.evolves.com.au/dreamtime-book/

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By Eric Tan >>

THE POSITION of a chief executive officer (CEO) – unlike any other in an organisation – plays a pivotal role in shaping the future of the organisation and consequently the welfare of its stakeholders.

Consequently, given the power vested in CEOs of modern corporations, the importance of the succession process can hardly be overstated.

It is, therefore, not surprising that CEO succession – a topic of considerable interest to academics and practitioners alike – has been the subject of intense academic research and debate in finance and management literature.

In a world that is increasingly seeking equal representation, parity in opportunities and inclusion of people across different backgrounds become the guiding principle for businesses in their hiring practices. 

While, on the one hand, the succession process is fraught with risks of hiring a person who could potentially do more harm than good, on the other hand, however, succession serves as an error-correcting process. The shake-up may be necessary to move the firm forward to keep up with competitors.

Good succession planning contributes to a smooth transition at the top. It also serves as a proxy for effective boards and good corporate governance – which strengthens investors’ confidence.

Observable past experiences and personal traits of incoming CEOs, therefore, provide important clues in identifying the ideal successor.

The cost of poorly defined and managed succession planning is extremely high, and could lead to elevated managerial and operational risk.

As such, a careful consideration of current and future firm developments is crucial in determining the qualities necessary in the incoming CEO.

 

PAST SUCCESS A GUIDE?

While corporate boards often tend to emphasise past success as the defining quality in the incoming CEO, one should not underestimate the importance of personality traits such as gender, age, ethnicity, career path, educational background, and social status as potential determinants of future success.

In other words, boards should try to align a firm’s strategic direction with a much broader set of candidate profiles, rather than solely relying on past performance to build a talent pipeline.

In addition, boards should also consider the performance consequences of succession events such as:

(1) the potential loss in firm-specific knowledge and human capital;

(2) the departures of upper-level managers following the succession event;

(3) a likely decrease in firm integration; and

(4) the potential for a drop in morale within the organisation.

 

WHAT RESEARCH SHOWS

In recent research, conducted jointly with academics at the University of Otago, we examine the value and performance implications of differences in personality traits between the predecessor and successor CEO, termed as ‘succession gap’.

This research is in the form of a co-authored research paper with Renzhu Zhang, Gurmeet S. Bhabra, and Hsin-I Chou – who are from the University of Otago – and is based on our recent paper entitled CEO Succession Gap and Firm Performance (see link below).

We address this research question by examining a sample of S&P 500 companies spanning the period 1996 to 2016. We construct a gap index by comparing differences in predecessor and the successor CEO characteristics along several dimensions such as gender, age, career variety, cultural background, highest education level, and social capital.

We find that when the succession involves a forced removal of the CEO, or when pre-succession firm performance has been poor (such as disruptive environments), an attempt to further shake up the status quo through a radical shift in the personal traits/experiences of the CEO leads to worse subsequent firm performance.

However, under non-disruptive conditions, we find succession gap to contribute positively to subsequent firm performance.

In our further tests, to examine the channels of underperformance, we find that successor CEOs who differ considerably from their predecessors tend to co-opt a greater proportion of the board, enjoy greater discretion in making far-reaching changes regarding downsizing and disinvestments, and generally lead firms that are characterised by higher levels of post-succession strategic instability.

Overall, we find evidence that appointing a successor with a gap in characteristics does not always increase firm value.

In fact, it can be harmful when the succession event is disruptive.

 

CEO SUCCESSION BEST PRACTICES

Our empirical findings have strong implications for how firms manage CEO successions.

These findings suggest the following good CEO succession planning best practices:

1. Identification of a successor who possesses strong leadership skills that reflect future aspirations of the firm.

More importantly, the successor should have in-depth industry knowledge and a good understanding of the corporate culture. Such successors will be less likely to demand drastic changes and will experience less resistance within the organisation, enhancing, rather than disrupting, existing relationships.

After all, it comes down to linking the kind of culture the firm needs and the next leader’s attributes and qualifications.

2. Cultivating good internal corporate governance practices in identifying candidates – either internal or external – that best suit firm needs in a rapidly evolving business environment.

While most firms prefer internal candidates because of lower search costs and they are often less disruptive, the assessment of external candidate is vital to ensure proper due diligence of the decision.

3. It is imperative to ensure ongoing accessibility to the outgoing CEO post-succession to ensure a seamless handover, thereby minimising disruption regardless of whether the successor is an internal or external candidate.

4. In most succession events, planning is largely ignored as a CEO’s departure is generally viewed as a distant event and, thus, often neglected.

Given that forced succession is costly to the firm in the form of reputation risk and potential loss of shareholder credibility, it is important for the incumbent CEO to be open about their own succession by identifying a potential successor early on to cater for a sudden or unexpected departure.

5. When enjoying stability and prosperity, CEOs are known to cling to policies and actions that led to past success but may not work under current or future situations.

Such ‘competency traps’ will lead to the incumbent CEO’s technical and political obsolescence that is unable to provide suitable solutions to new issues and to maintain a stable political environment within the firm. Such succession-related risk can be avoided by considering incoming CEOs with succession gaps who are more driven to acquire human capital than their counterparts.

 

CEO Succession Gap and Firm Performance is available to view at:

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3220794.

 

The author, Dr Eric Tan, is a senior lecturer in finance at the UQ Business School (UQBS), Queensland.

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NEW RESEARCH by software group TechSmith shows how increasing visual communication could unlock $6.527 billion in productivity and boost Australia’s Gross Domestic Product (GDP) substantially..

According to the TechSmith report, Australian businesses could experience significant financial and productivity gains by including more visual content — such as screenshots, screencasts, images, and video — in communication with employees.

TechSmith commissioned the Centre for Economics and Business Research to examine TechSmith’s own scientific research and productivity data, along with research into how people spend their time at work, to assess the impact of better use of visual communication in the workplace. 

The Centre for Economics and Business Research report for TechSmith found that, in Australia, businesses stood to gain up to $6.527 billion in productivity. It is an astonishing figure that is verified by breaking down the impacts of better visual communication on an individual basis.

The research found that using visual content in workplace communications could unlock about seven extra minutes a day for every affected employee.

The average boost in GDP, if businesses were to use more visual communication, was estimated at 0.52 percent — or more than $167 billion annually across the six geographic regions studied, including Australia.

TechSmith CEO Wendy Hamilton said she was not surprised that visual content helped people perform.

“We’ve always known that visuals are essential to the effectiveness of communication, and therefore are essential to instruct and inspire,” Ms Hamilton said.

“The essential findings of this study are, first, that visuals matter even more than most assume and, second, there is an urgency for leaders to adapt as employee demographics change.”

Ms Hamilton said Australia had a lot to gain if businesses were to increase their use of effective visuals. Australia could see a 0.55 percent boost to its economy – the second highest hike of any geographic region studied –  due to Australia’s combination of long working hours and a high proportion of communicating workers. 

The TechSmith research also revealed the value of using more visual content in workplace communications to individual businesses.

For example, Australian businesses could save $1,384.70 per worker per year, based on average annual hours and GDP per hour.

In an eight-hour day, communicating with employees using effective visuals, such as videos and screenshots over plain-text email, the research found this could save each affected employee six minutes and 43 seconds.  Over a 40-hour week, that equates to 33 minutes and 36 seconds.

TechSmith is a company uniquely placed to provide such insights. Founded in 1987, TechSmith Corporation provides practical business and academic software products that change and improve how people communicate and collaborate.

TechSmith’s economic modelling was conducted by the Centre for Economics and Business Research in March 2018 and combines TechSmith scientific data and publicly-available data across Australia, Canada, France, the UK, the US and the DACH region, combining Germany, Austria and Switzerland, to quantify the impact of visual communication on business productivity.

Download the full report

www.cebr.com

www.techsmith.com

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CREATIVE business web hub Squarespace’s research on Australian business conditions has discovered a surprising fact: Australians would rather ‘be their own boss’ than ‘be on the booze’. Holding them back – Australians are contrastingly risk averse.

The results are a little more complicated than that, but the overwhelming fact coming out of Squarespace’s Australian Thought Leadership research found 68 percent of Australians wanted to be their own bosses. Specifically, more than half would be willing to give up alcohol for a month, or social media for a week, to do so.

The findings[1], released by the international all-in-one web publishing tools company, which has just entered the Australian market, reveal entrepreneurism is alive and well.  

The Squarespace inaugural study found that one in two Australian adults (18 to 59 year olds) are either interested in starting their own business or passion project (40 percent) or have done so already (10 percent). The results highlight how this ‘independent generation’ is largely motivated by freedom, flexibility and the desire to feel passionate about what they do.

In fact, 78 percent of Australians believe doing what they love or are passionate about is more important than earning a lot of money, and more than three in five (63 percent) millennials have a passion project that they would like to turn into a job or career.

So why aren’t more Australians chasing their entrepreneurial dreams, or pursuing that side hustle? The study also found that Australians are risk-averse, with only 19 percent associating taking new risks with workforce success. Most Australians are hampered by fears and concerns, largely rooted in the financial costs of failure.

Founder and CEO of Squarespace, Anthony Casalena said, “As an entrepreneur, I’m very familiar with the risks and fears associated with starting a business. In the early years of Squarespace, I was the only employee, acting as the sole engineer, designer, marketer and support representative for the entire platform.

“Today, it’s easier than ever to start a business and strike out on your own. We’re excited to support the next generation of entrepreneurs in Australia by providing them with the resources they need to establish a strong online identity and pursue their passions.”

Mr Casalena said Squarespace could help Australians “take the first step in expressing themselves and their businesses through a beautiful online presence”.

Squarespace has developed an extensive suite of online tools – including a website builder, e-commerce platform, and domains manager – so that virtually anyone can bring their ideas to life online.

“I work full time as an interior designer, but noticed a gap in the market when I couldn’t find natural products for my whippet Stassi’s sensitive skin,” said Danni Dias, founder of Mr. PAW, the Melbourne-based all-natural, vegan dog grooming products company.

“I created a product that is gentle on my pooch and kind to the environment, and Squarespace enabled me to share it with the world on a beautiful site that is easy to manage – even for someone that isn’t very tech savvy.”

The Squarespace Australian Thought Leadership survey explores how Australians view the changing workplace, their appetite for entrepreneurialism and the motivations, fears and barriers to follow their creative passions. Survey data were collected via an online survey of 1,003 Australians aged 18 to 59 years, designed to ensure results would be nationally representative at the state by gender by age level.

The Squarespace Australian Thought Leadership survey, conducted by AMR Research, explored lores how Australians viewed the changing workplace, their appetite for entrepreneurialism and the motivations, fears and barriers to follow their creative passions. Survey data was collected through an online survey of 1,003 Australians aged 18 to 59 years, designed to ensure results would be nationally representative at the state by gender by age level.

www.squarespace.com/about

 

SQUARESPACE RESEARCH KEY RESULTS

  • 68% of Australians want to be their own boss
  • 58% women and 47% men would give up alcohol for a month to do so
  • 58% women and 50% men would give up social media for a week to do so
  • 46% women and 35% men would give up lovemaking for a month to do so
  • 40% of Australians are interested in starting their own business or passion project, and 10% have already done so
  • 63% of Australian millennials have a passion project that they would like to turn into a job or career
  • 78% of Australians believe that doing what they love or are passionate about is more important than earning a lot of money
  • 68% of Australian women associate success in the workforce with doing something they love or that they’re passionate about, while only 40% associate success with earning a lot of money
  • 54% of Australian men associate success in the workforce with doing something they love or that they’re passionate about, while only 45% associate success with earning a lot of money
  • 19% of Australians recognise taking new risks as a driver for success in the workforce
  • 59% of those interested in starting their own business or passion project cite financial risks as one of their fears, with not earning a profit (53%) and business failure (47%) are also common concerns

 

ADDITIONAL FINDINGS

Australian millennials (18-34 year olds) are redefining the modern Australian workplace – they see the nine-to-five schedule is evolving, are driven by passion (not money), and are driving a more digital economy.

  • 77% of millennials would like to be their own boss – a significantly higher number compared to 64% 35-44 YOs and 61% 45-59 YOs
  • 63% of millennials have a passion project that they would like to turn into a job or career – a significantly higher number compared to 55% 35-44 YOs and 43% 45-59 YOs
  • 83% of millennials believe the workforce is shifting from a traditional 9-5 schedule
  • 78% of millennials believe the entrepreneurial generation creates new jobs that previously did not exist
  •  65% of millennials have experienced personal success as a job candidate or prospective student from having a personal website.

 

Women are more passionate and empathetic than men in their pursuit of success in the workplace. They are also more motivated to start their own business by the desire to spend more time with their family, however, for many, the biggest barrier is knowing where to start.

  • 68% women v 54% men see success in the workforce is more about doing something they love or that they’re passionate about
  • 53% women v 40% men see making a difference in the lives of others as a marker of success in the workforce
  • 50% women v 40% men believe that accomplishing goals with a team of others defines success in the workforce
  • 49% women v 33% men are motivated to start their own business as a means of spending more time with their family
  • 51% women v 32% men cited simply not knowing where to start as the biggest barrier to starting their own business.

 

ends



[1] Study conducted by AMR Research, of just over 1,000 Australians ages 18-59 years. Survey data collected was designed to ensure a nationally representative snapshot of adult Australians across demographics and states. 

driverless-care-feature-img.jpg

AUSTRALIA has the chance to reinvigorate its motor industry by taking a lead in driverless vehicles according to the author of a new book, Autropolis, the diverse mobility revolution.

An imminent revolution greater than the introduction of the personal computer (PC) or the smartphone, according to economist and future strategist, Brian Haratsis, is the autonomous vehicle (AV). 

Continue reading

LEADERSHIPHQ chief executive Sonia McDonald’s recent Diversity Award, presented by NSW Minister for Women Pru Goward, was a timely precursor to this month’s release of LeadershipHQ’s second book, Leadership Attitude: How Mindset and Action can Change Your World.

Ms McDonald, its author, said the book focused on “identifying personal strengths and acting upon them, using a mentor, and empowering others, to develop leadership qualities that motivate, influence and inspire”. 

Ms McDonald said understanding personal leadership traits and attitudes were the drivers for developing leadership abilities.

“Leadership is not a role or title; it is how you think, feel and see yourself and how you act as a leader,” she said.

“Thinking like a leader generally means you will start behaving like a leader.

“I work with leaders across a wide range of industries and occupations and there is no doubt that being confident and owning who you are leads to increased leadership abilities.

“Be authentic: the best leaders are the ones that know that self-awareness is the greatest capability.”

Last year Ms McDonald was named in digital business magazine Richtopia’s 250 Most Influential Women Leaders of the world.

She is also a regular contributor to The Australian, Business Insider and Richtopia.

Leadership Attitude: How Mindset and Action can Change Your World retails for $28 and is available via the LeadershipHQ website.

The Kindle edition retails for $9.20 and is available through Amazon.

 

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