Hight Memorial Lectures

4th Annual Hight Memorial Lecture - 16 September 2010

Cancelled due to the Canterbury earthquake

Does Entrepreneurship Pay?
Recent studies have highlighted the dramatic and sustained loss of income an individual may anticipate moving from employment into self-employment, demonstrating the apparently precarious nature of entrepreneurship where individual risks are rewarded by volatile, often meagre returns. But contradictory evidence also exists. A different body of work has shown entrepreneurs to be significantly wealthier than people who work in paid employment, with disproportionately high levels of household assets and total net worth.

Understanding the incomes and lifestyles that are typically achieved by entrepreneurs has important policy implications. Government policymakers are keen to increase levels of entrepreneurship, but 'wage uncertainty' remains a key deterrent for individuals contemplating business start-up.

Research suggests that financial rewards of entrepreneurship are multi-faceted and include different types and amounts of rewards at different stages of the business life-cycle. More accurate reflections of entrepreneurial rewards suggest a need to move away from the use of narrow and static measures of incomes, and towards a broad set of indicators that collectively contribute to overall economic wellbeing. Entrepreneurial rewards are not only determined by business rationality, but are also influenced by the household. Analysing entrepreneurial rewards requires an approach that captures the processes of reward decision-making over the business lifecycle, while contextualising reward decisions within the entrepreneurial household.

Biography - Professor Sara Carter, OBE
Sara Carter is professor of entrepreneurship and Head of Department at the Hunter Centre for Entrepreneurship, University of Strathclyde Business School, Scotland, and Visiting Professor at Nordland Research Institute, Norway. During August-September 2010, Sara Carter was an Erskine Visiting Fellow at the Department of Management, University of Canterbury. Following a PhD in agriculture, Sara has undertaken several studies of entrepreneurship supported by leading research funding organisations. She is an editor of Entrepreneurship Theory & Practice, a leading peer-reviewed journal, and has authored key texts on enterprise and small business management. She was awarded the Prowess prize for Women's Enterprise Researcher of the Year in 2008 and made an OBE in the New Year Honours List 2008.

3rd Annual Hight Memorial Lecture – 27th May 2009

Global Turmoil….. Global Opportunities'.
The lecture was delivered by Rod Oram, international financial journalist.

Biography - Rod Oram
Rod Oram has more than 30 years experience as an international financial journalist. He has worked in Europe and North America for leading publications such as the London Financial Times and the Toronto Globe & Mail. His FT career spanned 18 years (1979-1997) as an editor and writer based in London and New York. He is currently a columnist for the Sunday Star-Times and Good Magazine; a regular broadcaster on radio and television; and a frequent public speaker on business and economic issues. In the 2004 Qantas Media Awards, Rod was a triple winner as Newspaper Columnist of the Year and Magazine Feature Writer of the Year (both in the business category) and recipient of New Zealand Trade & Enterprise's Travel Scholarship in recognition for his writing on NZ innovation. In the 2006 Westpac Business & Financial Journalism Awards Rod won the category of Reporting on Corporate Responsibility, Sustainability or Community Engagement. In 2008 he was hired by the Royal Commission on Auckland 's Governance to write a paper on Auckland in 2060. He has also contributed research to a number of corporate and regional economic development strategies.

2nd Annual Hight Memorial Lecture - 19th August 2008

Entrepreneurship in Transition Economies: Experience from Central Europe, former Soviet Republics and China

Biography - Professor David Smallbone
David Smallbone is Professor Small Business and Entrepreneurship and Associate Director of the Small Business Research Centre at Kingston University in the UK. David is also Visiting Professor in Entrepreneurship at the China University of Geosciences in Wuhan, China, Past President of the European Council for Small Business and Entrepreneurship (ECSB) and a Senior Vice President of the International Council for Small Business and Entrepreneurship (ICSB). David has been involved in research relating to SMEs and SME policy since the late 1980s and has been a regular presenter at national and international conferences during this period. He has published widely on topics that include: high growth SMEs; entrepreneurship in rural areas; innovation in SMEs and innovation policy; internationalisation and SME development; ethnic minority and immigrant entrepreneurship and entrepreneurship and small business development in transition economies. The latter has involved a variety of empirically based investigations in countries that include Central and East European countries that are now members of the EU, former Soviet republics and China. In addition, he has extensive experience of research based consultancy for a range of national and international clients, including central government departments in different countries, the European Commission, OECD, UNDP and OSCE.

Inaugural Hight Memorial Lecture2nd April 2007

Keeping a butterfly and an elephant in a house of cards: elements of exceptional success

Professor William Starbuck, Lundquist College of Business, University of Oregon
This lecture describes the remarkable success of one small firm and the widespread consequences of that success. Wachtell, Lipton, Rosen and Katz is the most successful corporate law firm in the United States and it may be the most successful law firm in the world. Its revenues and profits are so much higher than their competitors' that this firm virtually comprises an industry on its own. The firm participates in almost every highly significant case concerning corporations. This prominence is due in part to its record of overturning established legal precedents and creating innovative legal arrangements. Indeed, corporations have sometimes tried to hire this firm merely to prevent it from working for the opposition.

Although law firms have some peculiarities, all remarkably successful companies have peculiarities. The lessons of Wachtell Lipton's success can apply to almost all business firms, and the social conditions that enabled this success exist in all societies (such as New Zealand's) that have high levels of immigration. This firm's history is partly a story about the effects of immigration on society. It shows how cultural diversity feeds social change, as new immigrants upset existing institutions in order to create opportunities for themselves. It is also a story about mutually beneficial cooperation between a university and a knowledge-intensive business firm. Most importantly, the story shows that management teachings really do work. It suggests how to create: very effective teamwork, very effective rewards, very effective organisational cultures, very effective strategies, and very useful lessons from experience.

Biography – Professor William H. Starbuck
William H. (Bill) Starbuck is Professor-in-Residence at the Lundquist College of Business of the University of Oregon and Professor Emeritus at New York University. He received his PhD in industrial administration from Carnegie Institute of Technology, and he has honorary doctorates from the universities of Aix-Marseille, Paris, and Stockholm.

He has held faculty positions in economics, sociology, and management at various institutions, including Purdue University, the Johns Hopkins University, Cornell University, the University of Wisconsin-Milwaukee, and New York University, as well as visiting positions in universities and business schools in England, France, New Zealand, Norway, and Sweden. He has been the editor of Administrative Science Quarterly, chaired the screening committee for senior Fulbright awards in business management, and was President of the Academy of Management.

He has published over 130 articles on accounting, bargaining, business strategy, computer programming, computer simulation, forecasting, decision making, human-computer interaction, learning, organizational design, organizational growth and development, perception, scientific methods, and social revolutions. He has also authored two books and edited fourteen books, including the Handbook of Organizational Design.