Can New Zealand develop the depth of business and public sector management skill needed to deliver successful exporters and local businesses? The question is one of the top 10 issues identified by NZI that the country must address to successfully internationalise the nation’s businesses, accelerate growth and lift prosperity.
The discussion paper, one in series that NZI is releasing to propose policy directions to “plug the gap” (between potential and actuality) and lift our global performance, suggests New Zealand can become small advanced economy by exporting high-value differentiated goods and services.
NZI identifies two key requirements that are pivotal to the implementation and execution of successful international business strategy. They are:
• The increased availability of venture capital; and
• focus on developing international entrepreneurship and management skills.
And while the paper mentions the role the New Zealand Institute of Directors (IoD) can play in increasing the required directorship skill, it does not mention the very obvious role the New Zealand Institute of Management can play in doing the same thing for managers. NZIM is unquestionably the managerial equivalent of IoD.
The paper recommends the establishment of an Entrepreneurship Institute through the University of Auckland Business School, primarily because it already has established activities in this area.
NZI’s recommendation is probably based on the understanding that the majority of New Zealand management organisations focus on teaching the core concepts of management. They don’t, however, offer specialities in the needed area of international management.
NZIM’s management development niche, on the other hand, is based on providing experience-based training. That is not just delivering the theory, but rather of sharing the actuality of what happens in the real world of management practice and processes.
And because NZIM’s approach to management development is flexible, it can provide programmes tailored to meet market and society needs as these change and evolve. It is, therefore, perfectly positioned to contribute to NZI’s proposed strategy. NZIM could effectively partner with IoD and the Auckland Business School to develop and deliver high level programmes of the kind envisaged by NZI.
The key issue, however, rests in some understanding of the extent of the real, and not just assumed, shortage of management talent in New Zealand. This is the classic chicken and egg conundrum.
Because New Zealand is not the advanced economy NZI’s discussion paper says we should aim to become, our more talented and motivated managers move offshore to expand their skills and their income-earning potential. They do this once they have equipped themselves with the basic training that our home-grown resources provide. It is an understandable phenomenon, but it is also problematic when it comes to discussing policy options.
The current situation leaves vacuum which the Government attempts to fill through its immigration strategies.
Many immigrants, however, are attracted to New Zealand to tap its perceived lifestyle and quality of life offerings and, having reached certain level of security, they ease back in order to enjoy the lifestyle they aspired to. Again, this is an entirely understandable human reaction. Compared with many countries, New Zealand offers easy access to an attractive lifestyle.
Attracting talented emigrants back to New Zealand seems, therefore, like at least one good starting point.
The NZI paper comes to what is probably the best strategic approach to breaking the nexus of the chicken and egg cycle with its suggestion New Zealand invests in building its international management and entrepreneurship capability. If, at the same time, something is done to increase the availability of capital for new ventures then this might result in us retaining more people capable of building our economy and attracting back managers with the international management experience to effectively increase the talent pool.
NZIM is perfectly placed to play key role in this strategy for the following reasons:
• It operates nationwide;
• It is capable of developing learning programmes aligned with the country’s needs quickly;
• Its training is based on real, on-the-ground experience and is therefore ideal for managers who are already in the workplace and want to build specific capabilities; and
• NZIM is used to working in partnership with many organisations and could easily partner with IoD, Auckland Business School or, indeed, other relevant organisations.
NZI’s latest discussion paper is visionary and strongly aligned with New Zealand’s needs. NZIM is committed to playing major role in helping the country move back to being an advanced economy and does not see our small size as nation as an impediment to that process. M
Nominations open for NZIM Foundation Scholarship
The NZIM Foundation is calling for nominations for its Foundation Scholarship programme.
Foundation chairman David Moloney, says three individuals will be selected to attend the Australian Human Resources Institute (AHRI) National Convention in Sydney in June and also attend one-day workshop with leadership guru Wilf Jarvis and some boardroom briefings with prominent New Zealanders working in Australia. The scholarship covers return airfares from New Zealand to Sydney, the cost of the conference and accommodation for six nights in Sydney.
More than dozen individuals have won scholarships to attend major offshore conferences, to meet management experts and attend briefings with CEOs of major companies run by New Zealanders. It is, says Moloney, unique opportunity and experience unmatched by other offerings.
The NZIM Foundation was established 10 years ago to help develop New Zealand’s young leaders by providing scholarships and study programmes.
The foundation was established through support by its founding members including South Island businessman Graeme Marsh, IBM, Air New Zealand, The National Bank, Fulton Hogan, Fisher Print, NZ College of Management, The Open Polytechnic and NZ Management magazine.
Candidates should send their application into the foundation by April 11. Application forms are available from the NZIM National website www.nzim.co.nz or by contacting Victoria Purdie at 04 473 0470 or [email protected]. You can either post this to PO Box 67, Wellington 6140 or email it to [email protected].
Winners will be announced on May 9.
