Magazine article New Zealand Management

INTOUCH: Growing despite the Recession

Magazine article New Zealand Management

INTOUCH: Growing despite the Recession

Article excerpt

Byline: Helen Tatham

Dick Hubbard is a man who knows how to grow a company during a recession; heCOs been there before. Hubbard Foods was born in 1988, just after the sharemarket crash in 1987.

AucklandCOs former mayor, now involved in business in a governance capacity, shared his insights with business people at the Campbell Tyson Cooper White-sponsored Enterprise Franklin business breakfast in Pukekohe recently.

DonCOt be risk averse and donCOt punish failure, Hubbard urged.

C[pounds sterling]Innovation is a fundamental part of business and if you havenCOt got the mindset that is about innovation and looking at new products and processes, then I think you are greatly limited in what you can do,C[yen] Hubbard said.

C[pounds sterling]I see so many organisations that punish failure to the extent that they actually stop and stifle innovation,C[yen] he said.

Of course, failure must be kept in perspective and proper processes and systems need to be put in place to ensure corrective action is taken to quickly recover and mistakes should only be made once.

Allowing people to investigate new opportunities and not restraining them with a written brief is a key factor.

Contributions of new ideas should be encouraged from any area of the business, not just those responsible for innovation or management.

Try not to kill new ideas with negativity because one idea may spark another which leads to a great new product. …

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