Executive Director, Sydney Business Chamber
BA, DipEd (UoN)

The Hon Patricia Forsythe addressed graduates from the UTS Business School in the Great Hall, University of Technology, Sydney on Tuesday 1st October 2013, 2.00pm.

Our speaker today is The Honourable Patricia Forsythe.

Patricia is the Executive Director of the Sydney Business Chamber, a position she has held since September 2006. Prior to joining the Chamber, she served as a Member of the NSW Legislative Council from 1991 to 2006. From 1995 to 2005, Patricia served on the Opposition frontbench, in a number of shadow portfolios.

Patricia represents the Chamber on a number of NSW government committees including the NSW Steering Committee 2015 Asian Football Confederation Asian Cup and the International Cricket Council Championships, the Minister for Transport’s Light Rail Delivery Phase Roundtable and the Global Talent Hub Advisory Committee. She also represents the Chamber on the City of Sydney Retail Advisory Panel and the Sydney Airport Planning Coordination Forum.

In addition to her role at the Sydney Chamber, Patricia serves on a number of boards in the Government and Not for Profit sector including Destination NSW, the Council of Macquarie University, the Hunter Development Corporation, Sydney Children’s Hospital Network, Business Events Sydney and Cricket NSW. Patricia is a member of the Business Advisory Board of the UTS Business School and an Honorary Associate of the Graduate School of Government at the University of Sydney.

It gives me great pleasure to invite The Honourable Patricia Forsythe to deliver the occasional address.

Speech

Chancellor, Vice Chancellor, Dean, Staff of the Faculty of Business, distinguished guests, graduates, and their support team of family and friends.

I acknowledge that we meet on the land of the Gadigal and Guring-gai people of the Eora Nation and pay my respects to elders past and present.

Today as we celebrate the achievements of the graduation class we should acknowledge and congratulate those who by their support, sacrifice and encouragement made the journey possible. Parents and friends this is your day too.

Well done and congratulations to all graduating today. Twenty five years ago as Sydney commemorated 200 years since the establishment of European settlement it celebrated the formation of a new university, the opening of the Darling Harbour Convention and Exhibition Centre and the introduction of the monorail.

Today the monorail is being demolished, and the convention centre is to be replaced by a new facility that is better designed to meet the needs of business events in the 21st Century. Fortunately the University of Technology not only lives on, but its reputation as an institution that is adapting to the complexity of the times continues to grow.

As you complete this chapter in your life it is worth reflecting that some of the information that you have crammed into your heads may be obsolete within just a few years, but what won't be obsolete is the skills you have acquired; to inquire, to study, to research, to question. What won’t change too are fundamental values such as fairness, equity and ethical behaviour. Be able to embrace change.

Technology is creating rapid change but remember nothing is achieved, except by the efforts of people. Study leaders find good role models and adopt wise mentors.

As alumni of UTS you join an elite club and as you travel and work, don't ignore the advantages that come with being part of its network, it may open many doors for you. Don't see today as the end of a journey but in what you do stay connected to the university.

There has never previously been a period of history where young people have entered the workforce with greater technical skills than those they join. You are well placed to make valuable contributions to companies that employ you or should you be brave and strike out on your own, as business entrepreneurs.

I referred to leaders. Throughout history the educated in every society have been judged to be leaders.

Leadership requires values, discipline, clear vision, optimism, a capacity to be decisive, a generosity of spirit and an ability to inspire. It brings great responsibility.

It would not be possible to be graduating with a degree in business without knowing the wise thoughts of management guru Jim Collins.

He is well known for describing the characteristics of leaders as key to what makes a good company, great.

His comments in 2003 about his list of top 10 CEOs is worth repeating.

“So what, exactly, made these ten so great? Strikingly, many of them never thought of themselves as CEO material. The second-greatest CEO on the list initially refused the job on the grounds that he wasn't qualified. No. 9 described herself as "scared stiff." No. 5 was once told flatly, "You will never be a leader."

“Yet if one thing defines these ten giants”, he noted, “It was their deep sense of connectedness to the organizations they ran. They understood the central paradox of exceptional corporate leadership: On the one hand, a company depends more on the CEO than on any other individual. Only the CEO can make the really big decisions. Much depended on them, but it was never about them.”1

Leadership may take you by surprise. The first time someone described me as a leader it was soon after I had been elected to parliament and a person wrote to me as a “leader of women”. As a new backbench member, I did not feel like a leader, but I realised that sometimes perception is as important as reality and that I needed to understand better what was expected of me.

Besides politicians, it is senior people in business who by their roles are frequently referred to as leaders. Politicians talk of making a difference, and the media refers to those who engage in “good causes” as making a difference, but do not underestimate what you can do both as a team member in an organisation, or a manager or a leader to make a difference to the lives of others.

Business is the driver of the economy; business creates jobs and without the energy of business and the willingness of many to take risks there would be no innovation, no progress.

Be proud that you have chosen to graduate with a degree in business. Back to Jim Collins for a moment. You will recall his five levels of leaders. The characteristics that he particularly notes of those who have made it to the top are: a special blend of personal humility and professional will—the capacity to channel personal ambitions and capabilities into a larger cause or mission. Ambitious first and foremost for the cause, the organization, the mission, the nation, the work—not themselves—and they have the will to do whatever it takes to make good on that ambition.

Finally, remember that true leaders give back. Your best chance for success, whether it is getting a job or promotion will come if you demonstrate that in your approach, you are community focussed and involved.

I hope that as you leave here today you go with the knowledge;

  • That you have been strengthened by the insights of great teachers.
  • That you have achieved much.
  • That university was great fun, and finally,
  • That there are wonderful opportunities ahead.

Remember though that you have to seek those opportunities.

Thank you and best wishes.

1 The 10 Greatest CEOs of All Time Jim Collins FORTUNE July 2003