The focus is on fostering both great managers and budding entrepreneurs Universities have to anticipate the global business trend and prepare graduates for coping with future needs, according to Macquarie University vice-chancellor and president Di Yerbury. The world was now a global society increasingly dominated by knowledge-based, value-added industries, and the education trend should match what countries needed to be successful, prosperous and globally competitive, Professor Yerbury said. 'Universities have to be able to see the trends, to predict trends and not only to react to them but to start preparing students to be ready for them,' she said. Universities that hoped to remain successful would increasingly focus on building graduates who had an international perspective and a sensitivity to different cultures, she said. 'These graduates will be able to operate comfortably, courteously, sensitively across international boundaries, and be able to manage workforces of people from lots of different cultures.' Traditional management schools have prepared students to be managers of organisations rather than as entrepreneurs. However, the Macquarie Graduate School of Management (MGSM) would like to nurture both types of graduates, Professor Yerbury said. 'You would find a large number of our graduates in management set up their own organisations and run them imaginatively, creatively and successfully, and often on an international scale.' Professor Yerbury said MGSM was extremely research oriented, and its research resources were designed to serve industry, commerce and other parts of the community. 'We are also extremely international. About one third of our students are international students.' She said the school was 'the No1 site' in Australia for students coming from China. Macquarie was the first university in Australia set up to be inter-disciplinary. 'In the modern world, you have to be able to operate across international boundaries but also across disciplinary boundaries,' Professor Yerbury said. 'It is no coincidence that our management degrees, MBA and DBA (Doctor of Business Administration), are interdisciplinary degrees with a wide range of specialisation.' She said top managers nowadays did not have the luxury of being experts in one particular area. Instead, they had to have a broad knowledge in order to cope with the demands of the modern business world. While doctorate studies in management are generally seen as too theoretical, MGSM offers a DBA programme for working managers. MGSM deputy dean Richard Dunford said the programme was designed specifically for focusing on practical problems by applying sophisticated research techniques. 'We want bright people with experience. So typical DBA students would be in their 30s or 40s, [with] plenty of good experience, [at] middle to top management [level],' he said. The intensive programme emphasises advanced research techniques and their application to issues of corporate concern. Professor Dunford said MGSM had an active and competitive DBA programme in Hong Kong. 'It is a programme that is not where we design to make a lot of money for us,' he said. 'It is designed to be a prestige product fostering ongoing interaction between the university and able managers who are a little too experienced and senior to be attracted to most of the master's programmes.' Director of international programmes at MGSM Norma Harrison said the institution aimed to promote its DBA as somewhat different from other management doctorate studies. Students had to be fully committed in order to finish the programme, and the school was strict about the intake of students, she said. 'We are interested in quality. We are interested in change. The students that come through us evolve not only as people but as managers.'