The role of transformative thinking and practice in a property entrepreneur's response to the funding crisis since 2008

This portfolio of exploration explores the role of transformative thinking and practice in a property entrepreneur’s response to the financial crisis which swept over Ireland from 2008. The complexity of this challenge and the mental capacity to meet its demands is at the core of the exploration. This inquiry emerged from the challenges the financial crisis presented to my values, beliefs, assumptions, and theories, i.e. the interpretive lens through which I make meaning of my experiences. Given the issue identified, this inquiry is grounded in aspects of theories of constructive developmental psychology, applied developmental science, and philosophy. Integrating and linking these elements to business practice is the applied element of the Portfolio. As the 2008 crisis unfolded I realised I was at the limits of my way of knowing. I came to understand that the underlying structure of a way of knowing is the ‘subject-object relationship’ i.e. what a way of knowing can reflect upon, look at, have perspective on, in other words, make object, as against what is it embedded in, attached to, identified within, or subject to. My goal became enhancing my awareness of how I made meaning and how new insights, which would transform a way of knowing, are created. The focus was on enhancing my practice. This Portfolio is structured into three essays. Essay One reported on my self-reflection and external evaluation out of which emerged my developmental goals. In Essay Two I undertake a reading for change programme in which different meaning making systems were confronted in order to challenge me as a meaning maker. Essay Three reported on my experiment which concerned the question whether it was possible for me as a property entrepreneur, and for others alike, to retain bank finance in the face of the overwhelming objective of the bank to deleverage their balance sheet of property loans. The output of my research can be grouped into General Developmental and Specific Business Implications. Firstly I address those who are interested in a transformational-based response to the challenges of operating in the property sector in Ireland during a crisis. I outline the apparatus of thought that I used to create insight, and thus transform how I thought, these are Awareness, Subject-object separation, Exploring other’s perspectives from the position of incompleteness, Dialectical thinking and Collingwood’s Questioning activity. Secondly I set out my learnings from the crisis and their impact on entrepreneurial behaviour and the business of property development. I identify ten key insights that have emerged from leading a property company through the crisis. Many of these are grounded in common sense, however, in my experience these were, to borrow Shakespeare’s words, “More honor'd in the breach than the observance” in pre Crisis Ireland. Finally I set out a four-step approach for forging a strategy. This requires my peer practitioners to identify (i) what they are subject to, (ii) Assess the Opportunity or challenge in a Systemic Context, (iii) Explore Multiple Perspectives on the opportunity or Challenge with an Orientation to change how you know and (iv) Using the Questioning Activity to create Knowledge. Based on my experience I conclude that transformative thinking and practice is a key enabler for a property entrepreneur, in responding to a major collapse of traditional (bank debt) funding.

The 2001 World Trade Centre evacuation

The WTC evacuation of 11 September 2001 provides an unrepeatable opportunity to probe into and understand the very nature of evacuation dynamics and with this improved understanding, contribute to the design of safer, more evacuation efficient, yet highly functional, high rise buildings. Following 9/11 the Fire Safety Engineering Group (FSEG) of the University of Greenwich embarked on a study of survivor experiences from the WTC Twin Towers evacuation. The experiences were collected from published accounts appearing in the print and electronic mass media and are stored in a relational data base specifically developed for this purpose. Using these accounts and other available sources of information FSEG also undertook a series of numerical simulations of the WTC North Tower. This paper represents an overview of the results from both studies.

The financial crisis and nuclear power

An assessment of the impact of the financial crisis on the prospects for new nuclear power plant orders worldwide.

E-Participation and E-Participants: solving the patent ‘crisis’

One of the major planks of some visions for E-Gov is that there is a willing participatory group who are more than happy to be involved in new forms of democracy and will be active and useful suppliers of input to e-consultation or e-participation processes. This group is different from that which goes online to the government site web and signs a petition asking the prime minister to resign. It is becoming clear, though, that the commitment to e-participation may well be there in theory, but difficult to access in practice. Further, the participation which is most welcome can frequently require training and expertise which is not widely available or there may be differences in opinion as to the point of participation. In this paper I will look to the attempts to encourage participation in the patent system. The UK is about to initiate a trial system utilising New York Law School’s Peer To Patent project, but has also attempted to involve participants in previous consultation exercises. I will use these as demonstrations of the sorts of problems which e-participation has met, and consider whether this new form of E-Gov is perhaps being oversold. The interesting question is whether participation is a growing tool which can ensure better public services from the State. My conclusion is that consultation and participatory projects can demonstrate involvement and are certainly educative but e-participatory projects are most likely incapable of achieving the goals set by their more optimistic advocates. The paper emphasises the patents field, but the lessons from it can – I suggest – be viewed as indicators having wider governance relevance. The primary point being made is that the technocratic view is always over-optimistic.

How the ship of fools was ship-wrecked - The Irish crisis and response

For a decade and half the Irish economy was the poster-boy of Europe. With substantial growth rates, an open economy, flexible labour markets and low levels of taxation, Ireland was seen as evidence of the success of neoliberal policies. Yet in the matter of a few short years Ireland has turned into a one of the peripheral black-holes (along with Greece and Portugal) that are threatening to bring down the whole Eurozone project. Given this context the paper will address two key questions. Firstly how did the much eulogised Celtic Tiger fall so far and so fast? And, secondly, what has been the government’s response to the fall and crash of the Irish economy? These two questions will be addressed through both a general historical analysis of the developments of Irish society up to the crash in 2008 and then the responses to it. Secondly by an analysis of two specific elements of that development; namely the much discussed low corporation tax rate and the failure of social housing to deliver decent affordable homes for those at the bottom of society. The third element is a review of the banking and sovereign debt crisis that led to the IMF/EU deal in November 2010 and a brief outlining of its implications for public finances, especially the question of default. The paper concludes by placing the Irish crisis in a global context.