Modern Australian Magazine

captains of the finance industry should take note

  • Written by David R. Gallagher, Malcolm Broomhead Chair in Finance, The University of Queensland
captains of the finance industry should take note

Being captain of the Australian cricket team has been described as the nation’s most aspired-to job after the role of Prime Minister. Being chief executive of Cricket Australia (CA) can’t be too far behind?

Last week the board of Cricket Australia announced insider Kevin Roberts will take the job, replacing James Sutherland after 17-years at the helm.

Despite a “global search”, Roberts was always considered the front-runner. Chairman David Peever had stated a preference for an internal CA candidate. Roberts, a former first-class NSW cricketer and sports apparel company executive, was a Cricket Australia board director between 2012 and 2015. Then he was Cricket Australia’s executive general manager for strategy, people and member services. Earlier this year he became Cricket Australia’s chief operating officer.

Given the evidence of an unhealthy culture at cricket’s top echelons, it might be argued that appointing an insider does not augur well for Cricket Australia in coming to terms with the problem.

Read more: The day Australian cricket lost its integrity and a country reacted with shock and anger

Roberts’ performance will affect the reputation of the game in Australia, and the lucrative business it now is. It is a lesson for corporate Australia, particularly those companies whose own cultural problems have been exposed by the banking royal commission.

Winning at all costs

The ball-tampering scandal, in which the Australian cricket team’s senior players allegedly conspired to cheat in a match against South Africa, exposed a “win-at-all-costs” culture.

Along with sanctions against individual players, Cricket Australia responded by establishing an inquiry into the “cultural, organisational and/or governance issues” affecting Australia’s professional cricket teams. The inquiry’s findings have now been presented to the CA Board. It will be Roberts’ responsibility to act on them and to deliver.

We will have to wait to find out if the review on “culture” has spanned the entire organisation. It will need to have addressed selection processes, values, leadership and all the financial arrangements involving players, sponsors, and broadcasters.

Read more: Can the cricketers banned for ball tampering ever regain their hero status? It's happened before

To move past the appalling shenanigans in South Africa, Cricket Australia needs to uphold the values of integrity, fairness and accountability. These are not just sporting principles. They should be important to all corporate cultures.

Unprecedented challenges

Roberts’ tenure begins in a period of unprecedented challenges for Australian cricket. The three major issues of the past year have been:

  • the ball-tampering scandal, exposing how low the team was prepared to go to win

  • a drawn-out pay dispute between Cricket Australia and the players

  • the commercial objective of maximising the “rivers of gold” from broadcast rights.

All three issues remind us that Cricket Australia, a company limited by guarantee, is a uniquely structured business – and a big one.

Based on financial statements over the past five years, it is awash with cash. CA averages surpluses in excess of A$100 million a year (before distributions to member state associations). At the end of the 2016/17 financial year CA had almost A$136 million in the bank.

Revenues from sponsors, media rights, spectators and other customers had grown by 60%, to A$338 million. Its new broadcast rights deal with Foxtel and the Seven Network is reported to be worth some A$1.2 billion over the next six years.

Who owns cricket?

Cricket Australia is a financial conglomerate with a monopoly it can only dream about. We should not be be too surprised this has engendered “profit-maximising” misbehaviour.

Its shareholders – the state member associations, who benefit from the rivers of gold – have little accountability to other stakeholders. Cricket fans have no say, except as consumers of the “cricket product”.

Now Cricket Australia urgently needs to consider what its values are, and how they can be meaningfully reflected in the culture and general conduct of the players and officials.

Key cultural reforms

How players are offered contracts, and the structure of contracts, needs review. The extent to which performance incentives have contributed to the “win at all costs” modus operandi, should be strongly investigated. There are clear parallels to what the banking royal commission has uncovered about the association between compensation practices and bad behaviour.

How the captain of the Australian team is selected also needs review. They should not be chosen because they are the best batsman and therefore the most marketable. They should be chosen for their ability to lead and show leadership, making the competitive and tactical decisions on the field and also adhering to all laws and acting at all times within the spirit of the game (i.e. culture).

Finally, the CA inquiry must, at long last, finally address sledging. Sledging in any form is a type of mental abuse. Mental abuse and bullying need to be called out for what they are: harmful to society and unacceptable to any workplace culture.

Read more: How cricket got its reputation for fair play

It is paramount that elite men’s cricket in Australia rediscovers its sense of fair play, professionalism, and becoming known once more as “the gentlemen’s game”.

In doing so, it might provide an example for business leaders to fix their own internal cultural problems.

Authors: David R. Gallagher, Malcolm Broomhead Chair in Finance, The University of Queensland

Read more http://theconversation.com/cricket-australias-culture-sore-captains-of-the-finance-industry-should-take-note-104491

Australia Today

How to Get Your Child Into Modelling: 5 Top Tips for Breaking Into the Industry

Adam Jacobs

Modelling, or even just playing pretend modelling, can be a fun and interesting experience for young children. The activity can help boost their self-esteem, which is crucial for self-development and can help them achieve success in life as they continue to grow. A little one’s confidence is su...

Read more

It's despair, not depression, that's responsible for Indigenous suicide

Tim Carey, Professor, Director of the Centre for Remote Health, Flinders University

A history of dispossession and transgenerational trauma underlie the day-to-day struggles of Indigenous people.from shutterstock.comThis article was written with Rob McPhee, Deputy CEO of the Kimberley Aboriginal Medical Service and co-chair of the Commonwealth-funded Kimberley Aboriginal Suicide Pr...

Read more

Can the Big Bash League's backyard cricket bat flip truly be fair?

Stephen Woodcock, Senior Lecturer in Mathematics, University of Technology Sydney

Would you go 'flats' or 'hills'?Shutterstock/Brian A Jackson Ahead of the start of the 2018-19 Big Bash League season comes news of a radical change that will bring a smile to the faces of backyard cricketers across the country.In a move familiar to everyone who has ever improvised a set of stumps f...

Read more

Native cherries are a bit mysterious, and possibly inside-out

Gregg Müller, Lecturer in Natural History, La Trobe University

John Tann/Flickr, CC BY-SAPeople don’t like parasites. But there’s a local Aussie tree that’s only a little bit parasitic: the native cherry, or cherry ballart.It’s what we call hemiparasitic. It can photosynthesise, but gains extra nutrients by attaching its roots to host pl...

Read more

Holidays & Travel

Adhari Park: Why is it one of the must-visit sites in Bahrain?

Despite its small area that does not exceed the 1,000 square kilometers mark, the Kingdom of Bahrain is known for being rich of touristic sites and attractions. Bahrain comprises destinations...

Exciting Off Road Adventures In Western Australia

Western Australia has long been a top destination for off roading enthusiasts from all across the world. One look at some of the top off road destinations on offer in...

Things to Do and See in Ballina, Australia

The intricate coastline of New South Wales is renowned for its sumptuous, decadent beaches, hidden resorts and secret camping spots. A long and slow ride down the winding highway that...

Guide to Travel Necessities for 2018

Sure, it sounds like quite an adventure to hit an open road with nothing but a one-way ticket and an open mind, but the harsh reality is – you won’t...

Top Sightseeing Spots in New Zealand

New Zealand is one of the most fascinating locations for anyone to visit in the world. After all, it’s a place with a variety of unique landscapes, but it isn’t...

Must-Pack Items for a Travel Blogging Boss

As a travel blogger, you get to see and explore so many wonderful destinations and meet various interesting people, but before you embark on a new adventure you need to...

Luxury Camping Adventures Around the World

Perhaps in direct response to the dominance of technology in the modern world, many travelers are feeling a strong draw towards nature. While some are able to fully embrace their...

Dredging works underway Plantation Island

Tourists and workers travelling to popular tourist destination Plantation Island, Fiji, are set to benefit from safer access when marine channel dredging is completed at the end of June 2018...

Top 5 Tips for Traveling With Dogs

Travelling with your dog can be thrilling, but sometimes it can turn into a real nuisance. Unless you know how to properly restrain the pooch, whether it’ll be able to...

Fashion & Beauty

How to Get Your Child Into Modelling: 5 Top Tips for Breaking Into the Industry

Modelling, or even just playing pretend modelling, can be a fun and interesting experience for young children. The activity can help boost their self-esteem, which is crucial for self-development and...

How to Dress Your Baby Bump

A pregnancy is the most beautiful and the most trying time in your life, so you want to make sure that you are as comfortable as possible and feel as...

Summertime skin

Summertime skin: the water based and nutrient-rich after sun gel-cream providing more antioxidant support than your traditional aloe While summer might mean spending days on end lapping up the glorious sunshine...

Groom To Do List

Sorry Aussie Men, you no longer just pay for the alcohol, flowers and marriage license. Times have certainly changed. Wedding Expert shares what Australian Grooms are now expected to do before...

Simple Secrets To A More Confident Smile

We all know just how important first impressions are. After a handshake, what’s one of the first things people will notice about you? It’s your smile. A friendly smile is...

Improve Your Body Confidence and Feel Great

No matter how good you feel about yourself, sometimes you just can’t help but see a few little flaws that seem gigantic to you and make you feel self-conscious. Whether...

Popular articles from Modern Australian

Body Talk: Losing Weight and Gaining Good HealthWhy You Need To Get a Forex Trading EducationHow to Dress Your Baby BumpSurviving Moving House: The Ultimate ChecklistNatural Ways to Deal with Sore MusclesEasy Ways to Earn Extra Money on the SideProduct of the Year (POY) 2019 winnersClick Frenzy's Ironshopper winner More People Want a Sparkling Smile for the Festive SeasonUBank Increases Term Deposit Rates: What That Means for Aussie Savers?Bosses Must Address Their Mental Health for Personal and Business Success4 Things to Expect During Your Trichology ConsultationHappy Adoption: Frequently Asked Questions about Adopting6 Ways You Can Help Others that Will Advance Your CareerTop 6 Stylish Loft Conversions That Will Transform Your Attic