STRENGTHENING THE VOICE OF INDIGENOUS LEADERSHIP COUNTRY: Australia SCHOOL: Monash Business School
ANOTHER GLASS?
WINE NOT? COUNTRY: UK
SCHOOL: The University of Sussex Business School
If and when pandemic restrictions are eased or lifted in your part of the world, restaurants that have sat empty for months will once again be able to welcome back their customers. Moreover, after a long period in which dating seemed very unsafe, single people might once again be looking to meet someone new. For many this is a prospect filled with excitement but dating also comes with its own unique set of challenges and unspoken social rules. One of which is the wine list. It is said that many people opt for the second-cheapest option on a wine list to avoid the embarrassment of going for the cheapest. While this might, for some, be a woeful attempt to appear more affluent in front of a date, for those in the know, the second-cheapest wine on the menu is often said to be the worst value – the thought behind this line of thinking is that restaurants often take advantage of their clients’ ‘embarrassment’ and put the highest markup on this bottle. Does this notion hold in practice and how can you pick the best bottle to impress a date? Economists at the London School of Economics (LSE) and the University of Sussex Business School reviewed 470 wine menus used by 249 London restaurants (and featuring a total of 6,335 wines) to examine the markup on each bottle. They found that the second-cheapest bottle of wine had, on average, a lower markup than the next four bottles found at the middle of the list. ‘Having the highest percentage markups on the middle wines can be logically explained. It would be reasonable to assume that at the low end of the wine list, margins are kept down to encourage consumption. At the high end, low margins induce customers’ upgrading to the more expensive wines on the list,’ reasoned Vikram Pathania, Reader in Economics at the University of Sussex Business School. This important research ensures that we can re-enter the dating/restaurant world with a greater understanding of the social expectations and psychology behind our choice of wine, as well as an insight into how we can get the best wine for our money. / Ellen Buchan (EB)
With a Welcome to Country ceremony acknowledging those recognised as the traditional owners of the land, accompanied by a spirit-cleansing smoking ceremony and a telling of the story of the giant scar tree, Monash Business School launched a new master’s programme in Indigenous business leadership in the presence of its inaugural cohort of students. ‘Creating the Master of Indigenous Business Leadership is about building a new future with a programme exclusively designed for Indigenous Australians to strengthen our country’s Indigenous leadership in public, private and community sectors,’ said Jacinta Elston, Pro-Vice Chancellor (Indigenous) at Monash University and Head of the William Cooper Institute - Monash University’s hub for Aboriginal and Torres Strait Islander research, learning and engagement. Addressing the first cohort, Elston added: ‘Together, we can create positive change for the future of our community.’ The programme, put together by Monash Business School and the William Cooper Institute, will take a cross-disciplinary approach that includes elements of law, public health and public policy and is formed of two overarching parts, ‘indigenous business leadership essentials’ and ‘indigenous business leadership advanced theory and practice’. The essentials segment includes a unit on the unique set of challenges facing Australian Indigenous leaders that seek to engage communities and organisations that represent multiple, and often conflicting, worldviews. Aimed solely at Indigenous Australians, the new master’s degree targets those looking to focus their careers on making Indigenous contributions in the workplace as well as employers that are keen to develop a leadership pipeline of high-potential Indigenous Australians, especially those seeking to integrate their organisations to work better with Indigenous communities. / Tim Banerjee Dhoul (TBD)
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