HENLEY ALUMNI ASSOCIATION – MALTA
NEWSLETTER – 04 July 2009
Issue No: 202
A fortnightly newsletter to keep Henley Alumni Association – Malta (HAAM) members
informed with latest management practices and with news and activities of HAAM.
The contents of this edition are:
Introduction
Management Concepts
Expectancy Theory
Leading Management Thinkers
Peter Drucker
Members Section
News from Henley Business School - Alumni
Events
- News & views on Executive
Education from Henley Business School
Reflection
News from HAAM
Future activities
AGM – 17th July 2009
Boat Trip & BBQ - 31st July 2009
Introduction
This e-Newsletter is designed as a Web page so as to facilitate navigating through its
pages. Using Word for Microsoft 97 or later versions, you should be able to browse
through this document by clicking on the underlined links. These will take you to the
relevant sections of this newsletter and also to Internet resources. To achieve the latter
you would have to be connected to the Internet.
Your feedback and contribution (for example sending relevant research papers, Internet
sites of interest to Alumni) would be appreciated. E-mail your feedback or request for
further information to the following address:
haam@henleymc.ac.uk
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Management Concepts
This section contains a quick rundown on some essential business ideas. Remind
yourself and get to grips with key management concepts in a language that's easy to
understand.
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Expectancy Theory
Expectancy theory is a motivational theory proposed by Canadian Victor Vroom,
professor of management and psychology at Yale University. Vroom is one of the world’s
leading authorities on the psychological analysis of behavior in organizations. His book
Work and Motivation is a seminal work in its field.
Vroom defines motivation as “a process governing choices . . . among alternative forms of
voluntary behavior.” If a person has a choice of actions A and B, which lead to two
different outcomes, then one might expect the individual to take the course of action that
leads to the most desirable outcome or avoids the least desirable outcome at any given
moment. Vroom, however, suggests there may be indirect motivation at work during the
decision-making process.
Vroom’s theory postulates that motivation is determined by three factors: the perception
that effort will result in success; the perception that a successful performance will lead to
a valued outcome—a reward of some kind; and that personal satisfaction will be derived
from the outcome. All three elements must be present for an individual to be motivated.
That motivation may be a level beyond the immediate outcome of the action. So if a
person needs to achieve X sales to be top salesperson, it might be assumed that being
top salesperson is the motivation. In reality, the salesperson sees top salesman as the
means to further promotion and is motivated by the desire to be promoted.
Key Reading
Victor H. Vroom. Work and Motivation. John Wiley & Sons, 1964
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Leading Management Thinkers
This page gives a short profile and backgrounder on the leading management thinkers,
past and present.
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Peter Drucker
Somewhere in Korea it is reputed that a businessman changed his name to Peter Drucker
in the hope that some of Drucker’s wisdom would be transferred. Worth a try but, more
realistically, if you want to emulate the creator of much of modern management theory,
you better begin re-reading Jane Austen and Anthony Trollope. You might then also
immerse yourself in Japanese art, Freud, and early twentieth-century European history.
These are just some of the rudiments upon which Peter Ferdinand Drucker (b. 1909) has
built an encyclopaedic store of knowledge which he has applied over the last 50 years to
management.
Far sighted and always opinionated, Peter Drucker was born in Austria where his father,
Adolph, was the chief economist in the Austrian civil service. Drucker worked as a
journalist in London, before moving to America in 1937. His first book, Concept of the
Corporation (1946) was a groundbreaking examination of the intricate internal working of
General Motors. His books have emerged regularly ever since - and now total 30. Along
the way he has coined phrases and championed concepts, many of which have become
accepted facts of managerial life.
The coping stones of Drucker's work are two equally huge and brilliant books: The
Practice of Management (1954) and Management: Tasks, Responsibilities, Practices
(1973). More than any other volumes they encapsulate the essence of management
thinking and practice.
Drucker's book production has been supplemented by a somewhat low key career as an
academic and some time consultant. He was Professor of Philosophy and Politics at
Bennington College from 1942 until 1949 and then became a Professor of Management
at New York University in 1950 – “The first person anywhere in the world to have such a
title and to teach such a subject,” he proudly recalls. Since 1971, Drucker has been a
Professor at Claremont Graduate School in California. He also lectures in oriental art, has
an abiding passion for Jane Austen and has written two novels (less successful than his
management books). His most recent publications are Peter Drucker on the Profession of
Management (1998), Management Challenges for the 21st Century (1999), and The
Essential Drucker (2001)
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MEMBERS SECTION
This page is dedicated to the contribution of our members. Members are invited to contribute to this page
by submitting e.g. their own profiles, research studies, job opportunities, product/service advertisements,
etc. All contributions must be in Word 97 format and not greater than 200K Bytes so as to facilitate
distribution through this Newsletter.
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June 2009
Events:
7 July 2009 - London Pub Walk - The London & SE Group - An evening spent walking
around the historic streets of London with an entertaining and informed guide. Please
contact
amanda.proddow@henley.com
16 July 2009 - Sustainable Business Group - Not Stupid in 'The Age of Stupid'? A chance
to see this highly acclaimed film and join a panel discussion with Dr Sally Uren, Deputy
Chief Executive of the Forum for The Future: The UK's leading think tank on sustainable
development and Dr Andy Wood, Managing Director of Adnams the beers, wines and
hotels group.
17 July 2009 - Leadership and Change Conference at The Reform Club, London SW1.
With 4 guest speakers including Jon Barrick, Chief Executive, The Stroke Association
organised by Henley MP44 current programme members.
25 - 26 July 2009 - Emerging Markets & International Business Forum - Negotiation Skills
in Emerging Markets with a special focus on the Gulf and South & South East Asia with
speaker Shahzad Bhatti from Khazamah (Malaysia Sovereign Wealth Fund) Greenlands
Campus, Henley.
10 September 2009 - eBusiness Alumni Group is pleased to announce Nick Kirkland
Chief Executive of CIO Connect will be presenting up to date findings on their current
research in changing business demands of Chief Information Officers. The presentation
will be followed by group discussions. Held at the Athenaeum club, London.
25 September 2009 - Henley Golf Challenge. Now in its 4th year this popular golf event
will be held at The Springs Golf Club, Wallingford. £55.00 per person. Only 15 places
remaining.
30 September 2009 - MBA Career Development Service - Effective Self Marketing
Workshop at
Greenlands, Henley-on-Thames, UK.
For details of events organised by our International Alumni Associations please click here
Dates for your diary:
8 October 2009- The London & SE Group - Annual Gala Dinner. This is the only dinner on
our calendar for 2009 and we are planning for a high profile speaker who will be
announced nearer the time. As this promises to be a very well attended evening, please
contact amanda.proddow@henley.com for more details.
2 November 2009 – Pharma Forum Winter Meeting – “Customer Marketing Challenges in
Pharmaceuticals” with Professor Merlin Stone who is a leading expert on direct and
relationship marketing, customer care, customer loyalty and customer information
systems – venue to be advised; contact irina.woodford@henley.com
8 December 2009 - The London & SE Group - Christmas event; always a fun event and a
great way to round off the year. Contact amanda.proddow@henley.com
Henley MBA Referrals
You will all be aware of just how vital personal referrals are when choosing your MBA - so
many of our programme members come to us after recommendations from alumni. We
think it is important to thank those of you who spend time and effort helping us but we do
get conflicting responses about what constitutes a suitable 'thank you'.
We have attached here therefore a very short questionnaire offering a range of options for
you to comment on. In addition many of you have asked us about how you can take a
more active role in MBA recruitment and again in the questionnaire we have offered some
suggestions. The questionnaire will only take a few minutes to complete and we would be
very grateful for your assistance so we can get it right for you! Just click through to
http://www.henley.reading.ac.uk/quest/Recommend.pdf Thank you for your time.
Warm regards
The Henley Alumni Team - Chris, Amanda, Irina & Laverne
Henley Business School
Email: alumni@henley.com
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Reflection - News & views on Executive Education from Henley Business School
So what needs to change in UK plc ?
29 June 2009
Henley Business School combines the values and the collective thought leadership of two
highly respected institutions - the Business School and the University of Reading - each a
leader in its own field for over 60 years. Five senior Faculty members have combined to
produce a series of 4 short essays and the Henley 'Manifesto' that suggests a set of
radical measures for deep-seated change in the way we lead, manage, regulate and
engage with the wider business community.
These are the authors own views, based on research done at the School and beyond.
They are offered in a spirit of constructive challenge and we hope they will stimulate
debate, consideration and, most importantly, the sorts of changes required to rebuild the
UK's reputation for business probity and effective management.
Here are some excerpts from the essays.
On the financial services industry:
"The focus must surely be on a flexible approach that permits innovation without allowing
the excesses that we have seen recently. It seems that any approach will, and should,
require a systematic policy of transparency..."
Professor John Board, Director ICMA Centre and Professor Brian Scott-Quinn, Chairman
ICMA Centre.
On trust & confidence:
"Like the chicken and the egg, no-one is really sure which question comes first: do I trust
an organisation more because I feel confident about it or do I feel confident about it
because I trust it more?"
"Trying to do the right thing in the wrong way is an dangerous as doing nothing."
Professor Stephen Lee, Faculty Director, Strategy
On rebuilding trust:
"..the rewards of leaders should be tied to:
 customer satisfaction & loyalty
 employee commitment & engagement
 non-exploitative supplier relations
 community trust in the business
 environmental reponsibility."
"Trust and good reputation command premium pricing, lower marketing costs, attract
better employees, bring endorsements or act as a buffer to criticism."
Associate Professor Kevin Money, Director, The John Madejski Centre for Reputation
On leadership & the crisis of confidence:
"Henley Business School has always held a strong ethical and values-led perspective,
often against the general trend. We believe that senior executives are guardians of other
people's money and so their decisions should take account of wider interests, not just
their own."
"Confidence in a leader is based upon experience of past performance,trust is based
upon their values and how we experience them."
Professor Chris Bones, Dean, Henley Business School
You can place these thoughts in context by reading the complete essays in The Henley
Manifesto: Restoring confidence and trust in UK plc.
Faculty Thoughts: on strategy
Can you summarise your company's strategy in 40 words or less? Most executives can't and consequently neither can anyone else in their organisation. Senior executives at
either a corporate or business-unit level who set strategic direction need to develop a
deep, and versatile, understanding of the competitive essence of strategy.Professor
George Tovstiga directs The Strategy Programme at Henley. He suggests 3 things
managers should think about in order not to 'lose sight of the forest for the trees' in these
economically trying times:
1. Focus on the opportunity rather than the calamity brought on by the crisis. Difficult
times always open new competitive opportunities; but the focus has to be on where it
really counts - where your company can make a real difference to its customers. Your
customers are facing new problems - so, provide them with new solutions.
2. Keep investing in the core. Recessions end; when this one does, will your company be
more competitive or less so? Good companies never stop funding and developing their
critical resources; they continue investing in their most valuable resource - people - and
they keep feeding their innovation pipeline.
3. Challenge the status quo. Try fresh, new and simply different approaches. Difficult
periods lend themselves to experimentation with new approaches. Use the opportunity to
break out of the constraining mold of 'tried & proven'. Sustainable competitive advantage
is about being different; hence re-focus your value proposition on true differentiation.
Professor George Tovstiga is a Canadian and German national with extensive
international experience as management educator, industry practitioner, author and
consultant. He has over 15 years industry management experience, notably in the areas
of R&D, innovation and engineering management with Xerox Research (Canada), Bayer
AG (Germany) and ABB (Switzerland) AG. Prior to joining Henley, George consulted for
the Strategic Growth & Innovation Practice of Arthur D. Little (Switzerland).
The next 3 day Strategy Programme begins September 15th. To reserve a place click
here.
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NEWS FROM HAAM
Latest news, appointments, events can be found in this page.
Future Activities
HAAM has a number of sub-committees working on a program of activities for the rest of
the year. These include traditional activities (AGM, Boat Trip, Summer BBQ, Film & Meal,
cultural activities) and other more adventurous events such as Treasure Hunt which is
being planned for October. We also strive to bring you educational activities as
opportunities arise.
HAAM’s Annual General Meeting is planned for 17th July. We are making
arrangements to have Dr. Carol Print (Associate Professor of Accounting and Finance
Subject Area Leader) from Henley Business School to give us a presentation on Family
Controlled Businesses and Shareholder Value. Details of events will be communicated to
you shortly.
Boat Trip & BBQ planned for 31st July - Leave Sliema Strand at 18:30 with Hera cruises
– sun set cruise up to Blue Lagoon – Comino arriving around 20:00 hrs – anchor have
food and drinks etc. – depart around 22:00 hrs – short harbor cruise – disembark around
midnight at Sliema Strand. Further details will be forthcoming in due time.
We forward to your feedback as this help us to maintain a strong network among our
members.
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Your comments are appreciated – e-mail them to: haam@henleymc.ac.uk
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