2020 Vision: How Global Business Leaders See Australia's by Graham White

By Graham White

Six major Australian-born, foreign enterprise figures talk about the influence of globalization and expertise on Australian enterprise during this exam of the way forward for company in Australia. The participants are Rupert Murdoch, president and CEO of reports company; Jacques Nasser, former CEO of Ford Motor corporation world wide; Geoff Bible, president and CEO of the Philip Morris team; Leigh Clifford, CEO of Rio Tinto PLC; Rod Eddington, CEO of British airlines; and Professor Lord could of Oxford, president of the Royal Society and previous leader clinical consultant to British best Minister Tony Blair. mentioned are Australia's funding competitiveness, executive management, taxation coverage, social attitudes and associations, the Australian paintings ethic, and office family members.

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If Australians can grasp the opportunities that technology and the emerging world trends present, I think the future can be good. 2020_text_3/3/03 6/5/03 1:09 PM Page 41 CHAPTER FOUR Robert May The environment in which you find Lord May of Oxford AC, Kt is so thoroughly British that it comes as a pleasant surprise that he introduces himself as Bob. He is a professor at Oxford but is also President of the Royal Society, the oldest and probably most famous scientific society in the world, and it is in the society’s offices in St James, London, that he offers to meet.

This is a highly speculative investment because possible obstacles and potential rewards are, at this point, largely unknown. You are investing time and effort to 2020_text_3/3/03 6/5/03 1:09 PM Page 50 50 20 2 0 V I S I O N determine whether this area of research even warrants further investment. From this can emerge a concept for a commercial product. The third phase is bringing a costed proposal to a board for development of this commercial product. This is a more expensive and extensive phase but is based on an identified commercial goal.

But that doesn’t make me different from anybody else. So, for the purposes of this discussion we need to assume that all economic goods are just symbols in a set of equations that economists get Nobel Prizes for. We are asking merely how we expand our science base to provide greater benefits within this current economic model. Within that framework, the question is how do we develop an innovative and commercially successful science base — and those two things are not necessarily identical, as I shall explain shortly.

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