Shadowlands: Adversity as Advantage for CMEs
Hammond Review Adopted
We started the week on Wednesday, 8 November announcing the Federal Government has adopted all recommendations of the Hammond Review to grow co-ops and mutuals. The press conference took place at CUA’s Burwood branch in Sydney.
Senator Bridget Mckenzie, RHS; Greg Hammond OAM; The Hon. Scott Morrison; Wendy Machin, Chair, COBA; Melina Morrison, CEO, BCCM
Taste of Australia Dinner
Continuing the ‘fine dining’ tradition of the Summit, we kicked off with the annual Taste of Australia Industry dinner on Thursday, 9 November 2017. Inspired by MC Annabel Crabb’s hit show, Kitchen Cabinet, parliamentary colleagues joined Annabel on stage, to celebrate the finest Australian co-operative produce, expertly brought together in a menu created by Stamford Plaza’s executive chef, Gary Stiles.
Back Row L-R: Peter Rutter, Beyond Bank; Wendy Machin, COBA; The Hon Michael McCormack, Minister for Small Business; Sam Andersen, Beyond Bank; Paul Esposito, Independent Liquor Group. Front row L-R: Andy Crane, CBH: Jane Crane, CBH; Annabel Crabb, MC; Melina Morrison, BCCM
The food was yet again the star of the night!
Annabel Crabb was an expert MC.
Bernard Salt presented on the public’s trust in Australian business and opportunities for co-ops.
“The difference between co-ops and mutuals and the listed shareholder sector is that our prospects are future owners and are treated with respect. And perhaps it’s this loss of recognition and value of relationships and respect that Bernard Salt was commenting on last night when he spoke about the loss of trust in corporate Australia and the opportunity this presents us.”
Peter Lock, CEO, Heritage Bank
The Hon. Michael McCormack, MP, Minister for Small Business gave the keynote address.
The Hon. Dr Andrew Leigh, MP, Shadow Assistant Treasurer, spoke.
There is no doubt we are in a good space … it’s ok to celebrate this success, but there is much work to do.
BCCM inaugural Honour Roll for Outstanding Service Inductees
Andrew Crane, Alan Beanland and Kyle Loades
BCCM Hall of Fame Inductees received a handcrafted BCCM pin.
To end the night, the infamous Rum Bar sponsored by ILG
Breakfast on the Hill
Breakfast on the Hill at Parliament House with the Queensland Government. Our excellent breakfast was courtesy of RACQ.
We launched the 2017 National Mutual Economy Report during breakfast. The report revealed mutual economy contributes more to Australia’s GDP than mining, construction or manufacturing.
Ian Gillespie, CEO, RACQ
“The hidden value of mutuals… It is our job, and not just the responsibility of the BCCM and others, to make sure we remove the veil and not hide our light under a bushel.”
Peter Whitelaw, Chairman, QT Mutual Bank with Ian Gillespie, CEO, RACQ
Melina Morrison recognised the leadership of QT Mutual Bank Chairman, Peter Whitelaw, during their transformational journey to become RACQ Bank.
Sheena Jack, CEO, HCF
“The CME sector – the ninja economy of Australia”
The Hon. Dr Anthony Lynham, Minister for State Development, launching the NME Report.
Terri Butler, MP, Federal Member for Griffith, gave the closing remarks on the vital role of CMEs in a fair economy.
2017 BCCM Leaders’ Summit
Andrew Crane, Chair BCCM and Terry Agnew, Group CEO, RAC WA, opened the Summit and launched this year’s Research.
“It’s up to all of us to Advocate, Educate, and Collaborate.” Andrew Crane
“it was obvious to see the new chair – Terry Agnew – passionate about diversity but more so, passionate about change.” Peter Lock
BCCM and various CMEs are working with researchers from Monash University on how best to measure Mutual Value (MV). This important project will help CMEs communicate their value to members, helping to foster, maintain and increase member loyalty. We were excited to launch the project at this year’s Summit.
The Australian Co-operative History Visual Atlas Project
Professor Morris Altman, Dean & Head, Newcastle Business School
- Total co-op value added (GDP) $139,899,068,058
- Total co-op GDP as % of Australia GDP (2016) 8.3%
- Total co-op employees 146,440
Professor Emmanuel Josserand, Director, UTS Centre for Management and Organisation Studies; Associate Professor Sarah Kaine; in collaboration with BCCM
Researching practical strategies, modes of organisation and business models for the co-op movement to embrace disruption for the benefit of society.
Funded by Australian Research Council 2017-2019 ($370,000 plus support from Macquarie and Uni of Sydney)
1833-2012. Maps all co-operatives over time and space.
Rob Goudswaard, CEO of Platinum Sponsor, CUA, discussed some modern operating realities for CMEs.
“Rabbit holes waste a lot of time and, as suggested, collaboration is a key factor to ensure we don’t enter the burrows.”
Yves Morieux, Senior Partner & Managing Director, Boston Consulting Group, made the keynote address.
Yves shared his ideas for increasing the competitive advantage of CMEs through the sophisticated management of complexity in organisations. Smart Simplicity is a global management system phenomenon used by hundreds of leading firms, but its deepest impact is experienced when implemented inside co-ops and mutuals.
Einstein said “Any intelligent fool can make things bigger and more complex – it takes a touch of genius and a lot of courage to move in the opposite direction”. Yves has given us this challenge.
“Agile is bringing manager’s back to work.” Yves Morieux
CMEs in Conversation with Yves Morieux: A rare opportunity to find out more about the Smart Simplicity ‘rules’ in an interactive discussion with delegates moderated by Patrick Durkin, Deputy Editor of BOSS Magazine.
Peter Lock on the CEO Dialogues
There are challenges. The CEO forums gave us a unique opportunity to discuss them, and it also acts as a good check to make sure we that we don’t start believing our own spin. I think we can all relate to this – Hubris is dangerous. In fact, “hubris is one of the great renewable resources”. And we saw this demonstrated as we discussed these lessons of survival with “risky business and near death experiences.”
CEO Dialogue 1
Madeleine Mattera, Partner & National Head of Financial Services, Grant Thornton Australia; Michael Janda, Senior Business Reporter, ABC News; Dr. Michael Schaper, Deputy Chairman, Australian Competition and Consumer Commission; Stephen Cartwright, CEO, NSW Business Chamber
CEO Dialogue 2
Bill Wilson, Director, Agribusiness Consulting, Farm Credit Council Services USA; Mark Love, Legal Director, BAL Lawyers; Martin Griffiths, Chair, Unimutual
CEO Dialogue 3
Dr Paul Thambar, Department of Accounting, Monash University; Professor Matthew Hall, Professor of Accounting, Monash University; Peter Hunt, Managing Partner, Mutuo (UK); Nick Crofts, President, National Members’ Council, The Co-operative Group
CEO Dialogue 4
Delegates joined members of Nundah Community Enterprise Co-operative for morning tea to hear about a radically different approach to the way we think about social impact investment and enterprise building.
Nick Crofts, President, National Members’ Council, The Co-operative Group; Wally Newman, Chairman, CBH Group; and Max Roberts, Director, Bega Cheese; in a ‘no holds barred’ insiders take on what it takes to survive as a CME in current operating environment. The Co-operative Group (UK) and CBH Group (Aus), the two largest co‑operatives in either country, have recently survived challenges to their co-operative structure whilst Bega Cheese some time ago, took a different path. Nick, Wally and Max candidly discussed ‘near-death’ experiences. Moderated by Michael Janda, Senior Business Reporter, ABC.
“The challenge sessions showed we can’t afford to be complacent, particularly if we are going to take up the opportunity in mega trends and of course the challenge and opportunity in new markets and e-commerce.” Peter Lock
Challenge Breakout 1
Digital Progress – mega trends and opportunities
Faye Lageu, Senior Vice President, Business Intelligence, ICMIF; Andrew Crane, Chair, BCCM; Nick Giurietto, Chief Executive, Australian Digital Commerce Association; moderated by Professor Tony Travaglione, Pro Vice-Chancellor of Business and Law, University of Newcastle
Challenge Breakout 2
Co-operative finance and insurance; and other Ag trends
Bill Wilson, Director, Agribusiness Consulting, Farm Credit Council Services, USA; Fiona Simson, President, National Farmers Federation; moderated by Frank Kelloway, Partner, Deloitte Private.
The Farm Credit System in the USA is an example to be followed. A nationwide network of borrower-owned lending institutions and specialised service organisations, the Farm Credit System provides more than $304 billion in loans, leases, and related services to farmers and rural cooperatives.
Mr Wang Hanmin, Vice President, All China Federation of Supply & Marketing Cooperatives, spoke on Accessing Chinese markets: C to C Trade and e-commerce in Asian markets.
…serving over 20 million farmers! Nearly bigger than our Australian population.
Peter Hunt, Managing Partner, Mutuo (UK) discussed latest developments in reforms to capital markets for mutuals. He looked at current Government interest in enabling capital raising for mutuals in Australia and compared this with similar developments abroad.
Peter Lock, CEO of Platinum Sponsor, Heritage Bank, providing his ’key take-aways’ from the Summit.