Companies can spend a fortune recruiting hot shot chief executives from outside, but new research suggests they could be wasting their money. A 20-year study in the United States has found that corporations that promote chief executives from within their own ranks routinely outperform those that recruit from outside.
The Kea global network acknowledges the bold vision of co-founder Sir Stephen Tindall at this year’s World Class New Zealand Awards and celebrates the passion and patriotism of the 2011 winners.
Despite the fact that they often manage big budgets on behalf of their companies, New Zealand managers aren’t always that good at managing their own personal investments – an extreme example of which has been this week’s embarrassing revelations that two former high-profile finance executives fell for a “looney” Ponzi scheme.
A critical week or so in timing makes all the difference, maybe. Business confidence slumped as expected after the second Christchurch earthquake, according to recently released surveys – but it has bounced back (surprisingly) according to the most recent survey, as Executive Update’s economic correspondent Bob Edlin reports.
Decades of research on achievement suggest that successful people reach their goals not simply because of who they are, but more often because of what they do. Check out these tips on turning goals into reality from the most-read article on Harvard Business Review’s website in the last month.
Real estate, not greedy Wall Street types, was the “real culprit” in the latest global meltdown, according to the keynote speaker at a recent major international finance conference in Queenstown. Professor Franklin Allen of Wharton University, Pennsylvania also said governments must develop policies that prevent “bubbles” in housing markets if they want to stop further financial crises – and it appears our Government is taking some notice.
There have been some major changes to property tax rules, including a GST simplification on property sales and significant changes to depreciation allowances, which affect companies that own property. Depreciation allowances on most building structures are no longer available, however they can still be claimed on commercial and industrial building fitout assets.
Constantly changing marketplaces mean companies need to be looking at smarter ways of using their sales force to stimulate growth. Over the past year, McKinsey & Co has interviewed around 100 sales executives worldwide, across a range of industries, to identify the critical elements that distinguish true sales leaders. It uncovered four innovative ways companies can use their sales reps to drive growth.
