Magazine article New Zealand Management

InTouch: Beating the Recession A[euro]" Southern Style

Magazine article New Zealand Management

InTouch: Beating the Recession A[euro]" Southern Style

Article excerpt

Byline: Christine Toner

South Island managers gained useful insights into todaya[euro]s challenging business issues at the recent NZIM Southern Business Forum.

Inevitably the focus was on the global recession and how businesses can best stay optimistic, recession-wise and confident. Themes to emerge included good business practice, good governance, honesty, integrity, trust, care of customers, cash and capital management, caution with credit, productivity improvement, and improvements to the NZ regulatory framework.

Rod Carr, vice chancellor of the University of Canterbury, painted a picture of New Zealand society when (or if) large companies, local governments and central government adopted such SME (small enterprise) behaviours as staying close to the customer; meeting their needs and selecting those who can and will pay over those who cana[euro]t or wona[euro]t; being reflexive and responsive; ensuring short lines of communication and flat management structures; minding capital and cash flow; being a[euro]fit for purposea[euro] and the right size for the market. When big business adopts SME thinking, said Carr, the culture of connectedness with customers and end users will effect a tremendous productivity change in our society.

Jane Diplock, chair of the Securities Commission, drew distinctions and comparisons between the mini crisis of NZ financial institutions and the global recession. Both, she argued, grew out of greed and self interest getting out of hand. …

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