By REBECCA MARSHALL, Sunshine Coast Daily 21/12/2010 Page: 12
If the GFC has taught the business community anything, it is that the fast food diet of quick buck schemes is not a healthy, long-term strategy. It may have temporarily supersized profits and fattened shareholders' bank accounts, but increasingly, concepts like legacy, sustainability, good conscience and ethics have replaced greed and short-sightedness.
Enter the Australian Catholic University and a "dream team" of experienced academics who will teach its very first MBA from the new Brisbane campus next year.
One of those is ACU's professor of finance, Donald Ross, who recently completed a research project with some overseas MBA students, interviewing Warren Buffett among other astronomically wealthy investors.
"ACU's MBA is different because of its built-in focus on sustainability and responsible management," Prof Ross said.
"So the finance I'll be teaching will be free from the notion of that slavish devotion to the market, and getting students to start thinking about the long-term building of a company .how it can contribute to the community and make a positive difference.
"The most successful investors think that way; they are really concerned about behaviour and character.
"We interviewed Warren Buffett during the depths of despair of the GFC in March, 2009. But these billionaires loved coming into the classroom to engage with students and tell them what matters.
"What struck me most about them was the importance they placed on ethical decision-making, trust, character and consuming modestly."
Prof Ross will present an information session at the Sebel Resort in Maroochydore tonight from 5.30pm.