EDITOR’S LETTER Enduring Values

As Management magazine counts down to its own 50th birthday celebrations next month, this issue’s cover story on moves towards New Zealand’s single economic market with Australia is particularly timely. More than 20 years after the historic signing of the CER deal, our two nations are still gnawing away at the next steps. This year will see significant amount of action. Finance Minister Michael Cullen and Australian Treasurer Peter Costello kicked off discussions in Wellington last month by announcing the formation of joint trans-Tasman council on banking supervision. The group will report back to the two ministers by the end of May with recommendations on how the two countries’ banking regulations could run in tandem.
Decisions in this business sector could set the scene for others to follow and behind the rhetoric lie fundamental divisions on how business should be done as we try to align Australia’s highly regulated and prescriptive approach to commerce with our own less confrontational, “easier” and – to many Kiwis at least – far more acceptable business model.
As the article’s author Reg Birchfield puts it, while advocates of single economic market see mutual advantage and economic benefits, opponents fret that New Zealand’s very sovereignty may be under threat. “The point SEM cynics make about banking regulation negotiations is broader than the single issue. They see it as evidence that Australia wishes to dominate New Zealand’s economy and to negotiate terms and conditions that will weight single market conditions in Australia’s favour.” These observers believe that in worst case scenario our sovereignty could be at stake. At best some of our values could be on the block.
Enduring values are also top of mind for US academic, author and business adviser Jerry Porras who has spent years probing the reason why some companies stick around, literally for centuries, while others boom and bust. In one-on-one interview with writer James Nelson he talks about the characteristics that set visionary companies apart from the rest and the need for all companies to understand, cherish and protect their core ideology.
Fifty years on at Management, the idea of core values is particularly pertinent to us too as the previous editor Reg Birchfield once again focuses on his role as the magazine’s publisher and I take over the reins as editor. Rest assured that while you will definitely see some changes over the next few months, the underlying core proposition will remain the same. Each month we bring to you magazine packed with argument, case studies and analysis of topics pertinent to today’s manager. We will continue to provide good, solid and useful read. This month we kick off the first of rolling series of changes in the magazine. Turn to page 11 for new regular section, Focus on Managers, where we take the Management camera out to record managers in action about town. As we all know, at its core management centres around people. Enjoy the magazine.

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