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UWA Business School
International expert on global strategic management, strategic planning and entrepreneurship for growth, Peter Lorange, told Western Australian university executives and industry representatives at a recent Leaders Luncheon that there is still a pessimistic attitude throughout the world as a result of the global financial crisis.

Australian Business Deans Council Distinguished International Visiting Professor Lorange, a Norwegian economist with extensive experience on shipping company boards, was speaking at The University of Western Australia.

During the luncheon, he told audience members there are six new critical challenges for management. These six areas include the need for greater customer focus - making the customer a "partner" and, above all, the need to understand that the customer is the key stakeholder.

Professor Lorange advocated implementing innovations that the customer appreciates; taking additional steps to be competitive - particularly in India and China; creating a simpler organisation with less bureaucracy and greater speed; developing effective "meeting places", both internally and with key customers; and instilling greater understanding of the business cycles.

In particular, Professor Lorange emphasised that in order to succeed, a corporation must always strive to do better. He explained that this philosophy should stretch across the entire corporation, from building strong relationships with customers because it is customers that make things happen, through to attracting the best staff and involving them in decision making processes.

Professor Lorange, President and CEO, Lorange Institute of Business Zurich, was in Australia as a guest of the Australian Business Deans Council. His presentation, Succeeding in Turbulent Times, was held at The University Club of Western Australia in February.

Media references

Catherine Vogel (UWA Business School) +618 6488 7340
Verity Chia (UWA Business School) +618 6488 1346