Nexus Summer 2002


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Nexus Summer 2002

  1. 1. nexus The magazine of the Warwick Business School Alumni Association Sponsored by Rolls-Royce Summer 2002 Spotting the next big thing The future for e-business? Storming to success setting the agenda
  2. 2. 2 | wbs in the news Honours Aiming sky high Professor Linda Dickens of the Industrial Relations & ACCORDING TO THE COVENTRY Evening John Senior explains, “Research for Organisational Behaviour (IROB) Telegraph and the Birmingham Post, two our MBA dissertations revealed that Group at WBS was awarded an WBS graduates are aiming high to bring a many people are not fans of the outward MBE for services to employment whole new dimension to the ‘team bound experience - they relations in the recent Queen’s building’ experience. don’t like getting wet! Birthday Honours list. James Clare and John Senior We plan to adapt the Dr Bela Arora, lecturer in Politics (both MBA 2000-01) plan to adapt pods, make the and Business, received the Young the latest US military technology screens bigger and Achiever of the Year award at the used in virtual reality create different Asian Women of Achievement simulators, and have virtual reality Award ceremony in London in May. negotiated an exclusive environments, aiming distribution agreement to make them as with Helitrainer Inc, who realistic and produce special pods to immersive as possible.” train military helicopter John was in the WBS launches pilots. The pods not only immerse the first WBS MBA group to win the Crown European MBA participants in a virtual reality Castle International prize for Innovation environment, they last year. He and WARWICK BUSINESS SCHOOL has launched can also be linked James have formed CAJES the European MBA in partnership with together to interact in Business Solutions, utilising the School of Business Administration at simulated battles or the University of Warwick Mannheim University in Germany, and missions, creating an exciting Enterprise Fellowship and funding ESSEC (Ecole Superieure des Sciences and unique team building experience. from Coventry Business Link and are Economiques et Commerciales) near Paris. Quantifiable diagnostic data can be actively seeking venture capital or Participants based at WBS taking the obtained from each pod on the business money to advance the project. European MBA will combine the ‘core’ performance of participants both as modules at WBS with a choice of individuals and team players. Visit their web site at g specialist electives, at Mannheim. There will be opportunities to study cross boundary subjects (such as EC Law, WBS offers its alumni the Cross-cultural Management, Business and Corporate Taxation in Europe and the possibility of having top Business Economics of European Integration and School thinking and wisdom applied Monetary Union). Participants then complete a joint project in collaboration to a new business idea or to with counterparts from Mannheim and developing an existing business ESSEC. The project, sponsored by a range of leading international companies, will Alumni interested in applying for a focus on solving international session with the ThinkUbator team management challenges. should contact Emily Fay in the WBS Dr. Simon Collinson, Associate Dean John Senior (left) and James Clare promoting Alumni Office: for the Warwick MBA, said, “The their new business. Top: the simulator pod to e or European MBA has been developed in be used for team-building exercises. t 024 765 24176 response to a growing demand amongst multinational firms for MBA graduates with an advanced understanding of the European business context, relevant language skills and practical international WBS Graduates most employable experience.” g According to a survey published in the Guardian newspaper in June, graduates of Warwick Business School are considered to be the most employable - by a large margin. Warwick topped the list with 28 ‘employability points’, their closest rivals Leeds and Nottingham scored 18, with Oxford and Cambridge achieving just 12 points. This listing follows a survey of over 220 recruiters who were asked to vote on whether graduates from each university were above or below average employability. g
  3. 3. alumni events nexus | 3 Leading the way Rendezvous in Rio Inaugural meetings of Brazilian diary dates Alumni were held in Rio de Lesley James, Vice-President of the Chartered Institute of Janeiro and Sao Paulo earlier in Personnel and Development, gave the Alumnae Women’s Group the year, with guest speaker, Alumni Academic Update Professor Keith Hoskin from Chair: Professor John McGee, the benefit of her wealth of experience in HR, at a seminar held WBS. Two WBS alumni, Diniz MSM Dept, WBS in London in February. The WBS alumna (MA IR 1976-77) Lopes (MBA 1997-98) and 19 October 2002 contributed significantly to the change of culture at Tesco in the Marcia D´Angelo (MBA 1996- Warwick Business School 1990s, while serving on the Board of Directors. Around 40 fellow 97) volunteered to run the new alumnae attended the seminar, hosted by the Probation Service Association. Anyone interested MBA Forum (all Alumni of England & Wales and heard Lesley’s forthright and should contact: welcome) inspirational thoughts on leadership and how to effect change. or Speaker: Val Gooding Her guiding principle has always been, “If you want your people (BA Hons, French 1971) to excel in customer service, you too must excel in the way you CEO BUPA manage them.” g New York event 21 October 2002 Returning after nearly thirty years, Juan Diaz Ruiz, Senior Vice- Ranan Lachman (MBA 1999- Warwick Business School President, Distribution Strategy, Fiat Auto (MSc Management and 00) hosted an informal get Alumni in Consulting: talk Business 1972-73), flew in from Turin in April to present an together at the Bowery Bar on and networking enlightening seminar on his experiences in the supremely 40 East 4th Street, New York Speaker: Craig Baker competitive motor industry and its passion for curves! Around on 27 June. The University of (PhD, 1985), 75 current students, senior faculty members and alumni, Warwick will be hosting further Vice President AT Kearney including three of his former classmates, attended the seminar. g events in New York. 28 October 2002 Warwick Business School Alumnus Stephen Lawrence (BSc ManSci 1976-79), is now CEO Sparkling Ball of the IT company Logical Ltd. On the invitation of the MBA Value Based Management A five star celebration for a five students, he returned to campus to participate in their AMBA - WBS joint event* star MBA class, this year's Entrepreneurial Group event Speaker: Simon Court wonderful MBA Summer Ball on 9 May. g attracted 300 Alumni, students (MBA 1988-90) Alumni attended a Creative and staff. The Ball was held on Director Value Partnership Event and a Dean’s meeting at 12th July at The Belfry Hotel, 29 October 2002 WBS developing ideas for and sponsored by Liberata, London raising the School’s profile in Innogy, Adam Carpets. "What a great event," commented Chris WGA Christmas Party** the UK and internationally. Band: The Raging Horns Adam who graduated that day, Amongst those who 14 December 2002 "so many different people from contributed were Swag Rootes Building so many courses and age Mukerji (MBA 1991-92) University of Warwick groups having a good time!" Marketing Director for Biocompatibles, formerly of MBA Refresher Virgin Cola, Paul Wyman (BSc January 2003 ManSci 1971-73) now working Warwick Business School Alex Bach (right), welcomes for T-Mobile, and Jim Snelson Alumnus Stephen Lawrence back to First Annual WBS Dinner (MBA 1994-99) Business Host: Lord Jeff Rooker WBS to share his experience with current students. Consultant with Oracle. g (MA, Industrial Relations, 1972) 8 May 2003 House of Lords, London Athens review MBA Summer Ball 11 July 2003 Further events are planned in New York, ONE OF THE WORLD’S leading academics in marketing and strategic Shanghai, Oslo and other venues so management, Professor John McGee of WBS, visited Athens on please do check the WBS web site or sign Wednesday 19 June. Titled ‘The Winner takes it all’ he spoke on up for your free monthly e-newsletter. the New Information Economy, giving managers working in *Book on: (under Greece an update on the latest trends in this important area of MBAcademy) business activity. **Book on: The event was arranged and introduced by WBS grad Maria Top: WBS Alumni meet in New York: Subhash Gupta (MBA Karakassis (MSc Management 1971-2). It was planned to raise the student) with event organiser Full listing of events and online WBS profile in Greece and to attract prospective students. Ranan Lachman. Bottom: MBA booking at the WBS web site: Alumni were invited to attend and bring interested guests. g Summer Ball is a great success.
  4. 4. 4 | view from the top e A message from the Dean THIS EDITION OF NEXUS focuses on innovation with a series of articles that reflect the innovative culture of Warwick Business School across an evolving portfolio of research and teaching activities. Competitive advantage in industry is based on continual innovation in products and processes - the on-going development of new and better products and services and of new and better ways of creating them and delivering them to final ‘Your involvement is critical.’ customers. For all organisations, including business schools, R&D and organisational change are the engines of innovation. For top Business Schools this means both the continual development of new areas of research excellence and the continual leveraging of this research, providing a bridge between theory and practice through teaching. WBS has scale and scope advantages that help it promote both continuous improvements in existing programmes and the intellectual diversity and managerial creativity to develop new areas of research and new teaching programmes. Groundbreaking online teaching, course delivery and student communities New programmes detailed in this magazine such as the Ford ‘As we move towards our goal of being the Trustmark MBA Internationalisation - working with new exchange partners on best European business school; creativity, programmes like the European MBA, and the Undergraduate innovation and continuous improvement lie International Business degree. And new corporate links such as with Prudential, the Football at the heart of our mission.’ Association, TNT Express, UBS Warburg, and McKinsey. As we move towards our goal of being the best European business school; creativity, innovation and continuous improvement lie at the heart of our mission. In achieving this goal we look to our alumni for support. Your involvement is critical, to provide feedback and lend direction, as well as acting as a channel to the outside world, to help us continue to build our top-class reputation. g Howard Thomas Harvard at Warwick HARVARD BUSINESS SCHOOL MIDLANDS Alumni branch chose WBS as the venue for their recent event. Held in June, nearly 80 people attended. Most of these were Harvard Alumni but local WBS Alumni were also invited and places were made available for 20 WBS MBA students. “The event was a great success, enjoyed by all of our members,” commented Tim Scholes, President of the HBSA Midlands Branch. The speaker was Dr John Quelch, professor at Harvard and previous Dean of LBS. “John did a really super job in leading the case discussion, and your students’ contributions were insightful,” Tim wrote to WBS Dean, Howard Thomas, after the event. The case study was on Easyjet and included a short video interview with Stelios Haji- Ioannou, made especially for the evening. After the classroom, Harvard and Warwick Alumni mixed together for a reception and dinner. The WBS Alumni who came from farthest afield for the event were Tim Soar, from Argentina, and Raymond Choa, from Singapore. “I really enjoyed it and the discussions that followed,” commented WBS student Havovi Cama. “The thinking developed by the WBS MBA was similar to that developed at Harvard. It was also nice to meet other WBS students who are using different methods of study to WBS Dean, Professor Howard Thomas complete the program.” (right) welcomes Professor John Quelch, Future joint events are being planned. g Harvard, to WBS. in this issue WBS in partnership with Ford 6 Focus on Innovation - Egg and e-business 8 Spotting the next big thing 10 Alumni profile 12 Nexus view 13 Storming to success 14 Careers 17
  5. 5. nexus | 5 Premier league EVEN BEFORE THE WORLD Cup began, WBS became the focus of media interest from TV, radio and newspapers in May, with the launch of a high profile training programme for football professionals moving into management. Fourteen experienced footballers and managers from across the UK kicked off in the first round of this innovative new programme. Those now actively enjoying the learning experience include Mark Hughes, Wales National Team Manager and Brian McClair, Reserves Coach at Manchester United. The School provides a balanced programme covering marketing, financial management, IT, planning, and personal development. According to Jonathan Hollands, Client Manager, “The value of our programmes is the blend of our academic excellence and the day-to-day experiences of the managers taking part. We hope to make a real difference to the quality of management of UK football clubs.” Recent research by Dr Sue Bridgewater of WBS highlighted the stresses on managers and the benefits of more formal business training. Sue reports that the feedback from the participants has ‘We hope to make a been extremely positive. “The first residential course proved to us how focused, enthusiastic and real difference to hardworking the football managers are. They handled everything that we introduced to them extremely well the quality of and with excellent humour.” Programme Director, Andrew Hardwick added: management of UK “These people can already access training and support in coaching skills but our programme will provide football clubs.’ Crown Castle’s Chief Operating Officer and Managing Director, Peter Abery (centre), them with the necessary business expertise to succeed as football managers. They are an awarding the MBA prize for innovation. impressive group - very committed and particularly good at rising to challenges.” Commissioned by The Footballers’ Further Education & Vocational Training Society Ltd, a charitable body funded by The Professional Footballers Association and Winning team supported by the FA Premier League, the Football League, the FA, and The League Managers Association, the programme leads to the University of Warwick Certificate in Applied Management. People signing up for the course will take part in residential PARTICIPANTS ON THE WARWICK MBA by courses at WBS, one-day sessions and distance learning. full-time study won a £1,000 prize for In a league of their own, the WBS dream team features Sue Bridgewater, Andrew innovation from Crown Castle Hardwick, Jonathan Hollands and Chris Smith. A squad to be proud of! g International, a multinational company at the cutting edge of wireless communications technology. Working in groups, competitors had to present their strategy for manufacturing and marketing the next generation of data processing and communications devices. The winning group included Sai Wing Chow, Michael Crich, Natalie Hoffherr, Rika Ota, Richard Sammy, Ian Tatterton, and Tassos Vavladellis who won with their innovative ideas and unique presentation - performed in the style of TV game show The Price is Right. g Following the demise of ITV Digital, Warwick-based Crown Castle International recently secured three multiplex licences, each of which will allow them to transmit four channels - BBC Five Live commentator, Jimmy Armfield, former England and Blackpool player explains WBS one in conjunction with the BBC. g plans for footballers going back to school.
  6. 6. 6 | wbs in partnership anatomy of a company relationship with WBS In March of this year the University of Warwick appointed Sir Nicholas Scheele its fourth Chancellor, following the retirement of Sir Shridath Ramphal. Leadership Sir Nicholas Scheele, as Chancellor, holds the highest office of the University, although the role is largely an honorary one. Sir Nick was appointed in part because of his own prominence and loyalty as a local figure and partly in recognition of the long relationship Ford has had with the University of Warwick. “Sir Nick is a local figure with local affinities, he is a significant business figure. He has had pan-European experience as Director of Ford Europe and is now based in the US, a country the University wants to reach out to,” explains Peter Dunn, University spokesperson. Sir Nick is now the Chief Operating Officer and President of Automotive Operations of the Ford Motor Company. Before taking on his new role as University Chancellor, Sir Nick was a member of the Warwick Business School Board. He has been replaced on the Board by Richard Parry-Jones, Group Vice- President Global Product Development, Ford Motor Company. Sir Nick came to campus in 2001 to give a presentation to the MBA class, and in 1997 he participated in a Warwick Debate with Michael Portillo and Lord Skidelsky. Education “So many Ford Group people were getting their MBA education at Warwick that they decided it would be more effective to formalise it, so we launched the Ford Trustmark MBA this Spring,” says Sue Bridgewater, Director of the Ford Trustmark MBA, from WBS’s Marketing and Strategic Management Group. Ford employees who take the new MBA, which commenced on 20th April, will have tailored core modules delivered through a combination of distance learning and on-campus modules. “Ford gets the benefit of a tailored front- end with Ford examples and assignments. The students from different parts of the company are sharing
  7. 7. nexus | 7 Students (from right to left) Andrew Jeffrey and Rob WBS celebrates Ford scholarships. From left: Howard Abernethy were delighted with Ford’s sponsorship of the Thomas, Dean, two Ford students, Ford’s Andy Bern, Sue 2001 Rugby Tour; David Hanson, Ford, on the left. Bridgewater, Director of the Ford Trustmark MBA and Harvey Byrne also from Ford. knowledge with each other and this promotes best “I joined Ford because I wanted to work for a practice spreading across the organisation,” explains multi-national company that had a real, tangible ‘Ford has a Sue. “In the elective portion of the course, students product,” explains Man.Sci. graduate Matt Ebdon. mix with people from other organisations. This way Matt joined Ford after graduating from WBS history of in 2000. Ford also recruited three excellent students ‘Ford gets the benefit of a from the MBA 2000-01 class: Vanessa Markey, Wadid supporting Nasrallah, and Johnny Tsang. Each of these recruits tailored front-end. In the elective also had a project with Ford. The projects included: a trend analysis of Ford Europe, Measurables of Lean Warwick Manufacturing at Land Rover, and a review of the portion, students mix with Ford Heritage Motor Centre and marketing strategy Business for the Motor Museum. people from other organisations.’ “I was able to see what I had recommended in my School project put into practice,” explains Vanessa, now the Commercial Services Manager at the Heritage Motor through they can learn best practice in other businesses to Centre/Land Rover. She continues, “I have actually take back to their employer.” “The programme represents an exciting worked on the implementation myself and seen it start to take effect which makes my project entirely projects, development,” comments Sean McIlveen, Director practical while still academically rigorous. The of Education Training and Development for Ford projects Ford offers represent excellent opportunities recruiting Europe, “The innovative blend of taught and to put the learning from the MBA into immediate distance learning modules provides a very flexible practice. presentations, programme.” WBS has been a market leader in Julie Tew, Managing Director of the Heritage Distance Learning for twelve years - the first accredited DL MBA in the UK - so Ford is taking Motor Centre, adds: “We were delighted with the work which Vanessa carried out for us. She looked at and making advantage of this expertise. repositioning the museum in the leisure industry. We “We look at what corporate clients want,” says are already seeing positive results from the changes speakers Sue, “what mode of delivery they want, and how which Vanessa and her new team made following the and when they want their students to mix with recommendations of her MBA thesis. Clearly, this has available.’ people from other organisations. We work with proved a success story for our business as a direct them to develop the course that suits their result of Ford’s relationship with WBS.” organisation.” Scholarships and sponsorship Recruitment and expertise Ford targeted top students even before the project “Ford has a history of supporting Warwick Business stage of the MBA course by offering scholarships of School through projects, recruiting presentations, £5,000. This gives them access to students in areas and making speakers available on the MBA careers that interest them, like human resources, in a given module,” explains Ron Reynolds, Corporate Liaison year. These same students go on to do projects with Manager at WBS. “This has given Ford access to our Ford, and usually to be offered jobs. quality students - the top management of the future “We have also appreciated Ford’s sponsorship of - as well as access to our academics through project sporting activities such as the Rugby tour in 2001, and supervision.” the Sailing Regatta in 2002,” says Ron Reynolds. “This Ford recruits from undergraduate courses and gives the Ford brand exposure at prestigious sporting from the MBA. events at leading business schools around the world.” g
  8. 8. 8 | focus on innovation Innovative Egg e-business in the supply chain - a new research initiative at by Wendy Schratz Head of Channel Management Egg Warwick Business School SINCE LAUNCH IN OCTOBER 1998, Egg has established itself as Europe’s leading online financial services provider, with THE SUPPLY STRATEGY RESEARCH UNIT over 2.1 million customers and growing1. (SSRU), established in January 2002, Egg has revolutionised British banking acts as a focus for research and through innovation, by passing on to development in the fields of customers the cost savings and conven- purchasing, supply chain ience of the online model, to give them a management and strategic account better deal. This leadership has resulted in management. Headed by Dr Simon other online banks joining in to lower Croom of the WBS Operations rates for consumers, so that Britain is now Management Group, the Unit has rated as the top European country for established its own advisory board financial services consumption2. of executives from a range of “The combination of technology push public, private and professional and market pull - customers demanded organisations to help direct and cost savings and simplified banking - is a support its development. powerful influence on firms to innovate,” Part of this development has explains Professor David Wilson, Warwick already seen a growth in the Business School. number of research students and At the core of Egg is a belief that there plans are currently being drawn up is a better way - that most banks and to broaden the range of purchasing, financial institutions make dealing with supply chain and strategic account money complex and difficult. Our offer to management activities undertaken our customers is to find them simple by the Unit. solutions to their financial problems. An important part of the SSRU’s “The importance of core beliefs and activity is the Warwick E-Business consistency in following and implement- Forum - an active network of practitioners, policy makers, consultants and researchers ing them cannot be over-emphasised in in the field of e-business, particularly relating to Procurement and Supply Chain the innovation process. These are the Management. Through regular networking events, collaborative initiatives and focused guiding parameters for a variety of research in e-business, the WEB Forum provides a platform for sharing knowledge and strategic decisions which will be made addressing current management and policy concerns in a wide range of e-business over periods of years rather than months,” issues. One major initiative of the WEB Forum was the establishment earlier this year of comments WBS’s David Wilson. “Such the WEB Research Consortium programme to investigate the nature and impact of consistency provides strategic continuity, e-procurement and which is an effective way for firms to deal with uncertainty3.” ‘Warwick E-Business Forum - an active e-business systems and strategies. This These values are not idealistic - they network of practitioners, policy programme provides Consortium members make excellent commercial sense. Under- standing customers and consistently makers, consultants and researchers with access to detailed giving them great value will ensure they research data and stay longer with us, buy more from us and in the field of e-business.’ leading edge practices tell more people how good we are. This relating to the drives value for our shareholders and implementation and effective management of modern business systems. Current builds the extraordinary relationship with Consortium members include major UK government departments, large blue chip our customers that is the essence of Egg. g corporations, medium sized manufacturing businesses and a number of key e-business service providers. 1 Egg plc results for Q1 2002, to 31 March 2002. The next twelve months will see a number of exciting new initiatives, including the 2 I & B Group research has shown that the top 10 launch of a global study into e-procurement, commencement of Phase Two of the WEB European financial companies is mostly made up of Consortium aimed at increasing the number of members and the launch of a series of British financial institutions, including Egg. best practice workshops in e-strategy development. 3 Hickson, D.J. Miller, S and D. Wilson (2004) 'Implementing Strategic Decisions: Two Options to Success' Journal of Management Studies If you want to know more about the SSRU and WEB Forum, please contact (forthcoming). Simon Croom e g
  9. 9. nexus | 9 the future of “The pricing and the business models are not yet right, but the idea is emblematic of the change that is going to happen over the next five-to-six years.” Customers do not have up-front infrastructure costs or software licenses, solutions can expand or e-business contract with the market, and, in principle, switching to new solutions is quicker and easier. One company in this field is EDS, a service supplier. By 2001 they had $200 million in forward contracts. But this is not a typical picture. Things are going much more slowly now as companies are very risk averse after the psychological impact of September 11th. Nonetheless, Leslie is certain that as companies move forward they will want to take advantage of these opportunities. He has just published a new book on this topic “Netsourcing”, an in-depth analysis of the new markets. Leslie also sees opportunity in Business Process Outsourcing (BPO). “There is so much money to be saved in the back offices of companies and government, for example in HR, accounting, real estate and procurement. There is a massive market for BPO so we will see tremendous growth over four to five years. At the moment the suppliers are embryonic: there is no one supplier that can handle HR, accounting and procurement and the rest of the back office.” Leslie’s research suggests that because back offices are traditionally underfunded and may not have retained the best staff there are huge savings to be made. For example he believes that as much as 30% of costs could be saved on the invoice payable function. “Companies will retain the strategy and policy elements but should be able to outsource - over the web - the administration and the updating of records. The supplier will be able to pay more attention and streamline the process. They can bring technology to bear. The supplier will have purchasing power.” BP and British Aerospace are two pioneers who have already It has been an interesting year. What is outsourced their HR functions, and their suppliers, Exult and left of e-business in the sense we knew it Xchanging, use on-line technology only two years ago? to enable this. “Companies will have to retain Leslie Willcocks is Professor of enough capability to control their own destiny - the broader e-business at Warwick Business School. question is how you achieve an He firmly believes in the longer term effective result while minimising risk. Management is not only future of e-business and sees two areas about achieving results but also of growth. about minimising risk.” “These are exciting areas for companies to explore and “INNOVATION IS GREAT BUT one must take account of risk,” says where I see the growth of Leslie Willcocks. “The last two years have really changed e-business over the next five people’s attitude towards risk.” years,” concludes Leslie. g “There are two recent innovations in sourcing - Netsourcing and Business Process Outsourcing - which are potentially very Further reading important in their impacts,” explains Leslie. Netsourcing is renting infrastructure, services and Netsourcing, Renting Business Applications and Services over a Network, by Thomas Kern, Mary Cecilia Lacity, Leslie P Willcocks. applications over the internet. “It is using the power of the The evolution of the organizational architect, MITSloan Management internet as a supplier, as well as organising your own IT which Review, Spring 2002, by Chris Sauer and Leslie Willcocks. may not previously have been connected.” The Winner’s Curse in IT Outsourcing: Strategies for avoiding relational “For example you can rent desktop services - then you have trauma, California Management Review, vol. 44, No 2, Winter 2002, no expensive in-house IT staff to worry about,” explains Leslie. by Thomas Kern, Leslie Willcocks, and Eric van Heck.
  10. 10. 10 | focus on innovation THE VENTURE CAPITAL FIRM 3i’s success is built on spotting innovation as it happens and investing in it - but how do they know what new technologies, ideas and companies will take off and which ones will never get off the drawing board? “It helps having a global footprint” explains Clive Austin, Director of 3i Ireland (MBA 1990-91). “3i has offices in the UK, throughout Europe, both coasts of the US, Singapore, Hong Kong, and Japan - all the major markets. This gives us a unique window on innovation around the world.” In fact 3i invests in businesses across three continents, and its current portfolio is valued at almost €9.8 billion. Investing in new innovative ideas is risky but exciting. What is important though for any venture capitalist is to match the potential returns on offer with the risks associated in achieving them. How does 3i decide on which new businesses to focus? Clive says: “The key to that is management. A good idea can easily be marred by a weak or inapprop- spotting the riate team. We look for quality within the management team and an ability to clearly articulate the commercial case.” The first step then, when deciding next big thing? whether to invest in a new company, is for the venture capitalist to look at the team. After initial meetings 3i often works with HR specialists to assess individual managerial competencies and team dynamics. However, personal Clive Austin experience and judgement still count for Director of 3i Ireland a lot. “Independent work should inform, (MBA 1990-91) but can never make the decision for you,” says Clive. “The second stage is to consider the idea itself. “Early stage investments are at the higher end of risk spectrum. In order to get an appropriate return on such investments the idea must be ‘disruptive’ ‘The ‘black art’ is in our people and how - it must have the they judge the results of this work.’ potential to provide a quantum shift in the way business processes are carried out or customer needs are met.” So, 3i looks for three key things in a new business opportunity: the quality of the team, the clarity of their thinking and the potential of their ideas to change the rules.
  11. 11. nexus | 11 Successful innovation comes from matching novel ideas with market opportunities. Sometimes the Efficient markets technology is not entirely new but a different use or an improvement on an PAVEL EROCHKINE, a 2002 Warwick graduate from Russia, has investigated the existing theme. inefficiencies of investments in developing countries. His conclusion is that the “You still need the quality of the Western financial institutions often apply double standards towards countries like team,” says Clive, “but then the idea Russia because their investment decisions seem to be dominated by stereotypes must also be novel and address a real rather than by the careful analysis of all the available information. In a series of need in a meaningful market.” articles, which are due to be published in the Russian financial press, Pavel argues He continues: “If an idea is that prices of Russian assets do not accurately reflect all the relevant information completely new - like Sony’s first and there is a scope for beating the market and making abnormal profits. In fact, Walkman - it is impossible to predict funds investing in Russian equities perform very well and the Russian Prosperity demand accurately. We can do external Fund is the best in the world (Nelson Info). It seems, however, that Russia is now research and have the full range of tools coming off the blacklist and there is a danger that the “irrational exuberance” may available but the ultimate reality will lead to the overshooting of the market. always be different - it’s just a question For more information contact Pavel Erochkine e g of how different. As with management teams, some of the decision to invest will always be based on gut feel and personal judgement.” How does 3i know which products consumers will buy? The company uses its global contacts to learn about trends Shaping knowledge behaviours: in geographic markets and they also have sector teams which specialise in a the new agenda for Knowledge broad range of market areas from healthcare to logistics. “Any Warwick Management graduate who sat in Peter Doyle’s Success for industrial network at Warwick lectures will recognise the tools and techniques we use,” says Clive, “the Founded in late 2001, the Knowledge and ‘black art’ is in our people and how they Innovation Network (KIN) is a new form of judge the results of this work”. collaboration between Warwick Business School and business. Established in response A 3i venture capitalist must have a to the growing need of organisations to shape bedrock of academic horsepower and a the way they exploit and grow their knowledge; very high level of analysis, rigour and Unilever, GlaxoSmithKline, Consignia and, most commercial judgement. However, 3i recently, BAe Systems are among its members. looks for additional soft skills such as empathy, resilience and highly Associated with the IKON research unit developed communication skills. (‘Innovation, Knowledge and Organisational Networks’), KIN provides an interface between Clive has been with 3i for over seven business school research and business years. He recently moved from 3i’s practice. The IKON research team has carried Manchester office, where he specialised out a number of research and consultancy in asset management, to Dublin when projects in the area of Knowledge Management he was appointed Director of 3i Ireland (KM), accumulating considerable expertise. plc in May 2001. The aim of KIN is to share this expertise and “The Celtic Tiger has enjoyed experience with business practitioners through meteoric growth over the past decade and regular workshops and other activities. is predicted to continue to outperform Stephen Mann from Consignia says: "KIN the Eurozone average over the medium offers us an unrivalled opportunity to benefit term. It has particular strengths in from cutting edge KM research and to learn healthcare, software, and telecoms,” Clive from the experience of other companies." KIN explains. However, he is more interested is established as a joint venture between in the largely untapped Irish Private Warwick Business School and the Management Equity market (generally more traditional Centre at Leicester University. sectors) where he sees significant For more information, please contact Dr. opportunity. “Ireland has fantastic Markus Perkmann on or opportunities,” Clive concludes, “and 3i go to is in a prime position to lead the market’s development and capitalise on these.” g
  12. 12. 12 | alumni profile Hot off the Press CUSTOMER IS KING How to exceed their expectations By Robert Craven (MBA 1990-91) The latest Virgin Business Guide NetSOURCING Renting Business Applications and Services Over a Network By Thomas Kern, Mary Cecelia Lacity, Leslie P Willcocks Laid back office chic - trendsetter Pier Paolo Mucelli shows off the new look. Plug and work ACTIVELY SEEKING AFFORDABLE SMALL office space in London - fully equipped, internet-ready, contemporary design, with the added benefit of a weekly massage? Then look no further... The search for decent small office space in London revealed a gap in the market that WBS graduate and entrepreneur Pier Paolo Mucelli was inspired to fill. Under the eoffice brand, Pier (BSc ManSci 1986-88) opened his flagship business centre in the heart of Soho, London, in April. Hailed as ‘the first laid back office centre’ by the Evening Standard, each centre will contain fully equipped, internet-ready individual workstations, combining contemporary workspace, interior design and cutting edge technology. Leisure and relaxation zones double as meeting areas, with the large glass-encapsulated boardroom having a DVD, VCR, plasma screen and video conferencing system and the chillout room sporting a Play Station. Managing Director Pier explains: “We have created a stimulating and fun environment, supported by state-of-the-art technology, to inspire a new office culture. There is a real need for quality, internet-ready and affordable business accommodation and eoffice is a new and exciting product that meets this need. We are targeting the growing number of small ‘Hailed as ‘the first laid back office businesses and freelancers who are seeking more centre’ by the Evening Standard.’ efficient and flexible office space.” The launch of the new centre and the collaboration with leading design teams from, Ashley Carter and furniture designer Herman Miller, generated interest from Movie stars publications as diverse as Design Week, the Evening Standard, Time Out, Director and FX, to name but a few. WBS Board Members and their movie star Propertydirect magazine highlighted the affordability of the eoffice proposition, sons. with a monthly rent of around £500 with no deposit and one month minimum stay, in its recent review of the ‘new plug and work office solutions’. Top: Craig Baker (BEd 1980, BSc Maths 1981, Looking to provide an alternative to working from home, the eoffice environment Business PhD 1985) now Vice President of AT Kearney, with his son Sean. Sean is in the has been specifically designed to enhance productivity and efficiency, allowing social second Harry Potter movie which will be interaction while still being secure and private. Pier explains: “Small businesses can released this year. Bottom: Rupert Howell (BSc benefit by sitting next to other small businesses. We’re looking at companies with from Man Sci 1978) CEO Chime Communications, four to five people but also the single user who wouldn’t go to service offices.” with his son Dominic and actor Ioan Gruffud (left). Dominic starred in the TV film adapta- tion of Tony Parson’s novel, ‘Man and Boy’. Check it out at w g
  13. 13. C- nexus view | 13 Sausages and the Euro by Professor Andrew Oswald Economics Department University of Warwick I AM OFTEN ASKED what I believe about the advisability of Britain joining the Euro. Whenever that happens, I always think about sausages. Imagine a world in which sausages come in all shapes and sizes - beef ones, pork ones, chunky turkey with cranberry ones, dark ham and mustard ones, all sorts. There is a great shop in Moreton in Marsh, just like this, in case you are a sausage fan. But now imagine that the European community were to pass a law. From now on, says this edict, all sausages must be sold at one price and only one price. Would this be good economics? No it would not. Just because things are sausages does not mean they are all identical. Whatever a bureaucrat would think, it is natural to have different sausages selling at different prices. In a nutshell, this is the economic problem with the Euro. Just because it is a currency it now has to sell at the same price. So out have gone French francs at price Trois and Italian lire at price Duo. In their place, has come a common currency, called the Euro, which has to sell at the same price everywhere. Maybe you think this argument is not entirely fair. After all, the Euro, you might believe, looks like literally the same sausage everywhere, so a common price for it is all right. Unfortunately, from an economist’s point of view it is not. What Europe has done is effectively to pass a law that says a whole bunch of markets will forcibly be shut down. These are the currency markets. Yet the whole history of economics - indeed the whole history of civilisation if that is not too grand a claim - is that it is almost always a bad thing to ban markets. Let people trade if they want to. Alcohol prohibition in the US is one of the famous examples; it led to terrible abuses. The Soviet Union was, of course, an example writ large of how disastrous it is to ban markets. In the case of currencies, by the banning of the buying and selling of currencies of different nations, Europe has forced itself into an economic straightjacket. Yet the laws of economic boom and slump have not been repealed. Inevitably, therefore, something else has to take the strain that used to be absorbed by the value of the German Mark and Belgian Franc going up and down with demand and supply. Professor Andrew Oswald Really there is only one place for the strain now to show through - that is in the movement of people. Previously, if a country started to do badly in export markets, its currency simply fell in value. Today, that cannot happen. To get back to equilibrium, employment must fall in the countries that cannot sell their goods in ‘By banning buying and selling of currencies of other European nations. Then, to restore balance in the labour market, workers will have to migrate to different nations, Europe has forced itself into booming nations. Yet migration is a slow and often unhappy an economic straightjacket.’ business. Human beings - especially Europeans - usually like to stay put. This is what happens in depressed regions (within countries), where, of course, there is also by definition a common currency - as within different parts of Britain. So, whatever the political benefits of the Euro, my advice is this. Never forget the sausages. g
  14. 14. 14 | nexus Storming to success ‘Business is very simple the way I operate,’ claims Doug Littlejohns, ‘the money in at the top must be greater than the money out at the bottom. The secret to success is a great business plan.’ Doug Littlejohns, twice decorated by the Queen, refuelling at sea. WBS GRADUATE DOUG LITTLEJOHNS (MBA 1991-92) certainly proved this over 5 ‘Peter Doyle was a great inspiration to me. years as he worked with his good friend, author Tom Clancy, to co-found a computer games company, grow it to $80 He taught me to think outside the box.’ million in sales, and then sell it before the bubble burst. “Tom had invested in a computer Tom went away to think this over North Carolina. Their products were game on submarines in 1995 and asked and for some time Doug did not hear computer games based on Tom Clancy’s me for technical advice,” explains Doug. from him. books. Doug approached Red Storm “I talked to the guys in the company and “Then in February 1996, Tom turned holistically looking for global markets, looked at their business plan which was up on my doorstep and said he was going working with Hollywood, and going for about two lines long. I told Tom this was to take my advice,” continues Doug. the console as well as the PC games destined to be a disaster. I said - if you However, Tom then went on to ask Doug markets. want to do this, and it is an obvious to run the company. They released their first title, Tom adjunct to your books, then you want a “I said - don’t be bloody stupid!” Clancy’s Politika, in November 1997. It joint venture with people who can really remembers Doug. However when he came with Tom’s new novel containing a do it.” thought about it, he realised there was mini disk with a sample of the game on tremendous potential. Tom had 5 million the back cover and there was a separately dedicated fans who all had sold board game. computers. If they could persuade In 1998 Tom Clancy’s Rainbow Six hit these fans to buy computer games the marketplace within weeks of Clancy’s then they would be able to cross- book of the same name. Both became connect and hit several markets instant number 1’s. without being in direct “It was jolly hard work,” says Doug. competition for the same “In four years we took sales from $1m, to customers as all the other game $16m, to $64m and we were projecting manufacturers. Doug flew over to sales of $80m when we decided to sell.” North Carolina, USA, in By this time Tom Clancy had become a September 1996, to start working name in computer games. Other themed on the project. games like Jurassic Park were becoming In November 1996 Doug and successful on the market. Doug Littlejohns collecting a prize for ‘Interactive Game of the Year’ at ECTS in Tom co-founded Red Storm For these reasons there was a lot of London. Entertainment Inc, based in Morrisville, interest in Red Storm from US companies.
  15. 15. nexus | 15 “In 1999 the Nasdaq was roaring ahead and we were persuaded to wait Setting sail until we had posted our projected sales of AT THE TIME OF writing, the WBS sailing team (sponsored by Ford) was $50 million for that year which would preparing to compete at the International Business Schools Regatta on the increase our valuation. Games make Isle of Wight from 19-21 July. Commodore Richard Thomas (FTMBA) almost all their money in the fourth reported earlier, “On a beautiful summer’s day in the Solent the WBS quarter so we had to wait until January team set sail from the river Hamble. We had a professional coach on 3rd 2000, when we actually posted sales board to ensure the training was as effective as possible. Unfortunately, of $64 million,” says Doug. even a professional cannot sail without wind, so the first morning This gave Red Storm a high valuation. was a theoretical exercise! Over the weekend, the wind picked up However, with the bottom falling out of steadily to a force 5 and the crew was thoroughly tested, practising the Nasdaq, and therefore Doug’s different combinations of manoeuvres and tactics to find any weak insistence on a cash only deal with no areas in our skill base. The crew are ready, bring on the regatta!” g earn outs, they had to look for buyers from Europe. They finally sold to Ubi Soft THE 2002 ALUMNI BUSINESS Cup sailing regatta took place in La Rochelle, in September 2000. Doug and his family France, over a long weekend in June. With teams this year from stayed on for a year before returning to INSEAD, LBS, Cranfield, IMD, ISA, Bocconi, Imperial as well as Warwick the UK where they have set up home in and crew members from all over Europe and further afield, this event has Devon and Doug is currently working become an annual event, living up to its motto - ‘Friendship, Glory & Fun’. independently, although he hints of news Using identical 9 metre yachts and crews of 6; a series of 7 races, both in the pipeline. short Olympic style and longer passage races, tested the crews over 3 days. Wind However, Doug’s fascinating story did conditions varied from very light to higher winds requiring sail reefing. Most races not begin with Red Storm. He had already involved multiple spinnaker legs, testing a crew’s teamwork and co-ordination, not to had a thirty-year career in the British mention team spirit! Royal Navy, with four command tours. He Warwick performed credibly, quickly coming to grips with the boat and the local commanded two submarines during his conditions, and after the first of the 3 days was placed 5th overall out of the 16 teams. career, one a diesel-powered (SSK) and one However, competition, although always friendly, became intense and at times very a nuclear-powered hunter killer (SSN). He tactical. Warwick eventually finished 10th. was poacher turned gamekeeper when he We hope to have more Warwick teams taking part next year - INSEAD had 6 teams commanded the surface command ship this year! If you are keen and experienced, please contact the Alumni Office, who will for the UK Naval Task help co-ordinate the teams. g Force in the Gulf during the Iran/Iraq war. “In fact, I took the GMAT exam the morning of the cease- fire in the Gulf War, and flew out with the Chief of Defence STAFF to talk to the troops in Kuwait that The Alumni Regatta Team included: Commodore Richard Thomas and Peter afternoon,” he recalls Commodore Michael Sutcliffe (top right), and Hawkes, of the student sailing team hoping to with amusement. His final appointment team mates Melanie Dixon Lander, Gavin sail to victory. was running the Navy’s university in McGill, Mark Thomas, Caroline Watson and Vicki Wright. Plymouth. He has been decorated twice by the Queen, is a chartered mathematician and a Fellow of the Institute of Mathematics and its Applications. He attended Warwick Business School from 1991-92 and Coyaba Beach Resort, Grenada particularly remembers Peter Doyle. Located on Grenada, the Caribbean’s Isle of Spice, set in tropical, landscaped gardens, “Peter Doyle was a great inspiration to Coyaba has a well-deserved reputation for offering good value, with friendly and personalised me,” says Doug, “he taught me to think service. In a great beachfront location on Grand Anse Beach, approximately 15 minutes from outside the box. I remember he told a the airport, the resort offers 70 spacious standard bedrooms, all air-conditioned, with bath, company that made propellers to make shower, hairdryers, phone, cable tv and balcony/patio. The hotel has two open-air taxis and it worked. I already knew how restaurants, lounge, bar and gift shop. Swimming pool with swim-up bar and sun terrace, to project manage from the Navy but tennis court, complimentary golf, dive and meeting room. Warwick taught me different terminology, Featured in tour operator programs such as Travel Collection (all-inclusive) Kuoni, BA the language of business application. It Holidays, Hayes & Jarvis, Cresta and Tradewinds. was a really entrepreneurial school and Owner Richard Cherman (PG Dipl Business Admin 1988-91) offers fellow WBS alumni much better than just heavy finance.” a complimentary bottle of local rum and fruit basket gift. Doug attributes his success to Warwick, the Navy and a slice of luck. g
  16. 16. 16 | nexus Project management goes online The WBS WBS HAS EXTENDED ITS online learning provision with the Alumni Web site... development of an online module in Project Management for MBA students. In the first run of the course, students from 20 different countries, from Japan to Kenya and Argentina, have been collaborating online in internationally-mixed ‘Virtual Teams’. Within a dedicated Project Management web site and discussion area, participants access learning resources and engage in a series of discussion activities, facilitated by online tutors, addressing themselves to a number of Project Management case studies. Project Management has ‘Students from 20 emerged in recent years as one of the most popular countries have been MBA modules, but until this year has not been offered by collaborating online.’ distance learning. The innovative new module, comprising print and web-based materials and assessed online collaboration, has been rolled out to distance learning MBA students, prior to its being offered to students from all variants of the MBA from 2003. Distance learning students, traditionally relatively isolated from their peers, can now engage in intensive syndicate work online and benefit from the exchange of ideas that is a core part of face-to-face MBA teaching. ...for everything Stuart Sutherland, e-learning consultant at WBS, says, “It has been a pleasure to see the way in which students from all Online Directory of Alumni corners of the world have really engaged with each other online to produce some very impressive work”. g Access to Proquest & Harvard Business Review Calendar of forthcoming events Latest school and Alumni news Outstanding Volunteer Alumni mentors Career resources & vacancies performance Networking TWO UNDERGRADUATE STUDENTS AT WBS received the CIMA prize for outstanding performance in their second year Management To log on to view the Directory or to access library Accounting module. The award is made annually by CIMA, The information such as Proquest, you will need your Chartered Institute of Management Accounting, who took the Alumni number. This is your old student number and unusual step of awarding two prizes this year as both students is printed on the address and update sheet enclosed had performed with your magazine. Alternatively you can contact exceptionally. Kiren the Alumni Office,, who Mahmood has just will supply it to you. completed the final year of her BSc in Accounting and Finance, and Rachel Pattison has just completed her final year of the BSc Management Prizewinners Kiren and Rachel with Daniel Sciences degree. g Gordon of CIMA.
  17. 17. ] careers | 17 WBS Alumni Association Career Resources ] WE WANT TO SEE all our graduates in their dream job. That’s why Careers Advice and Coaching we offer several excellent ways to help you maximise your career You can consult a variety of sources for careers advice and potential. coaching such as one to one careers advice from the University of Warwick’s Careers Service ( Employers’ Resources Graduates of WBS are amongst the most highly sought after in We can also recommend independent providers: Aileen Thomson, the market. With a degree from a business school ranked within coaching, (, CV, interview skills and the top four in the UK, 10th in Europe and 34th worldwide, our general advice, Patricia Wilson, ( ) or graduates are a valuable asset to any organisation. one-to-one career counselling from Warwick graduate Darius Norell, ( You can advertise your organisation’s vacancies, free of charge, directly to the most able candidates. A number of organisations Helpful Organisations have already found this service extremely useful. Outside organisations which may be able to assist you: You can also view the CVs of current Warwick MBA students The Association of MBAs: - listing of and recent graduates. events and much more. The Global Workplace: - jobs Contact: Emily Fay in the Alumni Office on: database, networking events, employer information, and You can find hundreds of WBS Alumni CVs listed with MBA directory. Direct and Executives Direct. The Executives-Direct database contains nearly 6,000 candidates who have all registered unique MBA Exchange: - free cv listing and detailed Career Profiles which are available for recruiters to service for MBAs. search via (results are anonymous). MBA Direct: - a specialist candidate Networking listing service for Alumni with a postgraduate degree. Contact fellow Alumni using the Online Directory or the list of Vacancies Alumni Mentors to widen your network, to seek strategic advice Job-seekers can find vacancies listed on the WBS web site. on how to pursue your goals, and for specific information on However, there are also links from the WBS Alumni web site to companies and careers. The WBS Alumni Association and WGA the best web sites that we have been able to find internationally run events for Alumni around the world to assist you in for jobs. g networking and career management. You can always find the up-to-date calendar of events on the web site. Square pegs into round holes will go How often have you wished that members of your team really understood how to manage? Perhaps you know someone who is a credible professional, but who needs to brush up their commercial awareness to be a real high-flier. Well, we can help you. Starting in October 2002, WBS is offering a Diploma in Applied Management. This programme is designed specifically for people who need to understand how to manage people and resources effectively. They need to add an awareness of Finance, Marketing, Operations, Personal Effectiveness and Human Resources to their professional and technical qualifications. They don’t want to do an MBA yet; they do want to sharpen their management abilities and gain a valuable qualification. They’re a professional Engineer, or a trained Chemist, or an Accountant with all the relevant certificates. Our Diploma will equip them to move on to the next steps in their career - to manage others; to take on bigger budgets; to control more complex projects… To manage professionally. For more information, contact: Jonathan Hollands (024 7652 3816, Andrew Hardwick (024 7652 2935,
  18. 18. 18 | alumni sport D field of battle Warwick Business School showed true fighting spirit at the International MBA Line-out Rugby tournament hosted by Duke University in North Carolina in April. WITH ONLY 7 INDIVIDUALS on the Full-time MBA course who had played rugby before, the initial challenge was building a squad, with those who had played explaining the rules to those who hadn’t! On home ground, their vigorous training was rewarded with a win in their first game against the WBS Alumni, after a tremendous battle. Spirits were high, despite injuries including a punctured lung. In their second game, against Cranfield, although WBS fought strongly, they were defeated (50 - 0). So with their first victory and the experience gained in these two matches under their belts, 18 stalwarts headed out to North Carolina, ready and keen to play. Team captain, Paul Doyne-Ditmas takes up the story, “The Scrum down first game was against Stanford, and from the outset it was an extremely tight game. Warwick scored at the end of the first half, with a penalty just outside the 22-metre line and fly-half Richard Thomas calmly slotted the kick. Stanford was then awarded a penalty at the beginning of the second half, which they converted and drew the game (3-3).” “Then we faced Duke - who have a long tradition of hosting the tournament. We scored our first try of the tournament during the first half, in swift response to their try. Another try during the second half put Duke ahead and Warwick’s last push ended five yards from their try line when I was injured and the game had to be abandoned.” With two of their key players hospitalised and the squad reduced to 14, although Warwick consistently pressured Wake Physio treatment Forest’s line in the final game, they eventually lost (10 - 0). Having faced the ‘giants’ of the US Business Schools, the intrepid WBS players are justifiably proud of their overall achievement. Grateful thanks to Sponsors: Rolls-Royce, Commerce Associate Dean of the MBA Programme, Dr Simon Collinson Quest, Grant Thornton, Carlsberg Tetley, who came paid tribute to the team, “This year was one of the toughest, through with funds to allow the tour to go ahead. with a long battle to win sponsorship and a series of injuries Thanks also to: Harlequin Designs Corporate Clothing plaguing key players from the start. The team’s success attests to for the shirts that took all the punishment and survived! the spirit and determination of the players and supporters who battled on in true Warwick tradition.” g
  19. 19. Seven graduate training programmes One company Not many people know that we offer SEVEN different graduate training programmes. Did you? T RUSTED TO DELIVER EXCELLENCE Rolls-Royce plc, 65 Buckingham Gate, London SW1E 6AT.
  20. 20. noticeboard A recent article in the Journal of Business Ethics ranked Professor Robert W. McGee (PhD 1986) No. 1 in the world for business ethics scholarship, based on both article count and page count for the five-year period 1995-99. Robert is now based in Florida, USA. The citation: Murray Sabrin, A Ranking of the Most Productive Business Ethics Scholars: A Five-Year Study, Journal of Business Ethics 36: 355-379 (2002). g Former CEO of Ericsson Microsoft Mobile Venture, Ulf Avrin (MBA 94-98), has become head of Mobeon, leading provider of Mobile PIM and messaging products. g Recent MBA graduate, Steve Ampleford, has demonstrated the benefits of a WBS education by founding Aorta Ltd., a company assisting both small businesses and their investors to realise their true potential. For more information, go to or ring 0800 6520012. g "For the first time I found myself using all of my MBA," said Geoff Parkes (DLMBA 1987-91), former Marketing Director of Aga Cookers. Today he runs SJK Furniture, a bespoke furniture manufacturer, based in Wolverhampton, a business purchased two years ago with friend Steve Bidmead. They employ 7 people, have grown the business this year by 40% and are now approaching £500k turnover. Visit their web site at g contacts Emily Fay, Alumni Relations Manager Alumni Office, Warwick Business School University of Warwick Coventry CV4 7AL United Kingdom t +44 (0)24 7652 4176 f +44 (0)24 7652 3719 Pam Barnes, Alumni Publications Officer t +44 (0)24 7652 4396 e Sue Cresswell, Events Co-ordinator t +44 (0)24 7657 3967 e Nexus is the magazine of the Alumni Association, Warwick Business School, University of Warwick, Coventry CV4 7AL United Kingdom t +44 (0)24 7652 4306 w The views contained in Nexus are those of contributors and not necessarily those of Warwick Business School or the University of Warwick. Design by Mustard +44 (0)1608 652919 (08/02)