Indholdsfortegnelse for February 2019 i NZBusiness+Management

Well, here we are in 2019, knocking on the door of another decade. We trust you managed to take a break from your business responsibilities somewhere over the past month or so, because one gets the feeling that there’s a challenging year ahead for the business community. Looking closer to home, away from world events and major international trade developments, one of the first hurdles for business owners and administrators is the switch to payday filing on April 1st. Much has been said about the state of preparedness for this significant event, but, as you can read in our payroll feature this month, it seems the payroll providers are at least confident they are ready for the switch. It’s up to business owners to ensure they’re upholding their side of…

ASSOCIATE PROFESSOR Alex Sims from the University of Auckland is an advocate for blockchain adoption in New Zealand. She co-authored the September 2018 report Regulation of Crytocurrencies in New Zealand for the Law Foundation which recommends a regulatory framework for blockchain in this country and government support for a blockchain and fintech hub – along with a central bank-issued digital currency, exchanges and the ability for businesses to trade in GST-free cryptocurrency. Sims was a popular speaker at Blockworks, largely for her ability to put the blockchain story into perspective in layman’s terms, break down some myths, and explain blockchain’s practical applications. She cited examples of various technologies that, when launched, were greeted with derision and scepticism – but went on to become pivotal in the advancement of mankind. The…

From April 1st 2019 all employers will be required to send their payroll information to Inland Revenue whenever they pay their staff. Payday filing is billed as the biggest change to the way businesses manage their payroll in more than two decades. Yet surprisingly, according to MYOB Business Monitor research, there’s little understanding of the new process amongst the New Zealand’s business community. The Monitor revealed that just a quarter of local business owners know that it’s coming, while of those that signal some understanding of the new process, just 31 percent say they know a lot about it. The rest only know a little or nothing at all. “This tells us business owners are underprepared for the change, which is why we’re working hard to build awareness in the…

HAVE YOU ever had a brand or a product you desire to buy jump into your head seemingly out of nowhere? Well, guess what? You got triggered! Clever marketers think strategically about common everyday ways to make you think about their product in your everyday context. If you are their target market customer, they have mapped out what you do every day – where you go, how you spend your time and what you are interested in. When you are going about your daily life, you are being triggered by everyday events that they know you encounter, and their brand or product is being implanted in your head. This way, when you are ready to make a purchase, they are front of mind. Remember when you last had that same…

The Institute of Managers and Leaders Australia and New Zealand (IML ANZ) is your career development partner, supporting you every step of your leadership journey – from interns to CEOs. With more than 13,000 members, IML ANZ is a large and powerful network of managers and leaders across Australia and New Zealand. Being a member of IML ANZ means you’re not only at the forefront of leadership in New Zealand, but you want to play a part in shaping the future. As well as an instant national and international network of connections, membership gives you access to a world of exclusive benefits. Achieve the highest status as a manager and leader: The Chartered Manager accreditation allows managers and leaders to professionalise their leadership skills and stand out in a competitive…

A diverse boardroom may not be as comfortable and chummy as a homogeneous boardroom – it may feel messy, the inaugural Diverse Thinking Governance Summit 2018 heard. But it is this that drives the success, where a variety of ideas and viewpoints can flourish, rather than just a me-too approach. Director Rob Campbell commented that you: “Need to get comfortable with feeling uncomfortable.” The summit, which was hosted by the Superdiversity Institute, attracted more than 130 participants. They heard from a who’s who of speakers including the Superdiversity Institute’s Mai Chen, director Justine Smyth, director Julia Raue, the Institute of Directors’ Kirsten Patterson and director Rob Campbell, around diversity in governance and how to improve it. Amongst the key topics covered were: • How chairs and directors can grow diverse…

When Management asked Reserve Bank Governor, Adrian Orr, about a leader he worked with that he admired, he was very quick to point to the recently deceased Sir John Anderson. “He led by asking questions and always talked about outcomes. He never had to say ‘do this’, ‘don’t do that’, although often you’d know he was thinking ‘really?’” Even if Sir John didn’t voice any skepticism “he would ask questions and you’d always walk away in full agreement”. Orr worked with Sir John during different periods throughout his now 33-year-long career, firstly in the late 1980s when Orr joined the National Bank’s economics team when he was 27 or 28 years old “and knew everything. Sir John slowly taught me that was not possible”. He again worked with Sir John…

IN BOARDROOMS across New Zealand last year, two thirds (66 percent) of directors were discussing the impact of technology on their organisation. They were talking about the impact of automation and artificial intelligence on their companies and wondering what new workforce skills and capabilities would be needed in their businesses. Those workforce and capability concerns, along with worries about New Zealand’s tight labour market, were considered the top barriers to performance by directors and board members, who set the strategic direction of many of this country’s businesses. Some 936 people responded to the ASB/IoD Director Sentiment Survey with findings released last November. Looking at changing workforce trends in modern organisations, the Institute of Directors is assessing what the future of work means for boards, and what New Zealand directors should…

IDENTIFYING WHETHER organisational change is necessary comes down to assessing whether your company actions are aligned with your overall goals and objectives. Organisational change is about adapting behaviour to better achieve company goals and objectives. It’s often a result of a change of leadership or confusion around accountability for certain objectives or goals. But when the need for change doesn't make itself obvious, how can businesses identify when it's time to do things differently, and when it’s not? In short, if your organisational behaviours aren’t aligned with your company objectives, it's time. WHEN TO START Companies should look to organisational change when an issue has been identified and they want a different outcome. The purpose of change is to align companywide efforts and make sure that everyone is working toward…

As I write this in late December, in less than two weeks it will be 2019. And what will the year bring? Change and change and more change. I often wonder what life will be like for my sons, who are in their 20s, when they are my age. Will it even be recognisable? My parents’ generation were born in the 1930s and the amount of change they have seen is astonishing yet they have adapted and learnt. They tap away on their devices and mobile phones; they follow family on social media and yet can remember a time when radio ruled the home, God Save the Queen was played before every movie started and once you got a job it was assumed you would have it for life. So…

MILLENNIALS AND 'MATURIALS' COMFY TOGETHER NEW ZEALAND EMPLOYERS ARE EVOLVING CONFIDENTLY WHEN IT COMES TO VIEWING BOTH MILLENNIALS AND MORE MATURE EMPLOYEES EQUALLY AS POSITIVELY, A RECENT SURVEY HAS REVEALED. LEADERS RISK VISIBILITY AND GOODWILL NOT BEING ONLINE A NEW INDEX REVEALS NEARLY HALF OF CEOs HAVE NO PUBLIC SOCIAL MEDIA PRESENCE, PUTTING THEM AT RISK OF REDUCED VISIBILITY AND CONNECTION WITH THEIR BRAND’S AUDIENCE. BUSINESSES URGED TO OVERCOME MISTRUST OF DIGITAL ADS TO COUNTER ONLINE AD FRAUD AND KIWI MISTRUST OF DIGITAL ADVERTISING, HAVE GOOD WEBSITE ANALYTICS AND FOCUS ON TRACKING OUTCOMES LIKE SALES AND LEADS.…

On Friday October 12th, Auckland’s ASB Waterfront Theatre was the venue for Blockworks. Billed as ‘New Zealand’s premier blockchain event’ the conference attracted more than 350 attendees – the majority being business owners keen to learn how this emerging technology will impact on their business. Judging by reaction to the various talks and panel discussions that day, organiser Justin Flitter may have to find a larger venue for the next Blockworks. Attendees came away educated and excited by an emerging technology that changes how businesses conduct transactions – a technology with the power to influence the world’s system of commerce. If, like me prior to Blockworks, you know next-to-nothing about blockchain, apart from the fact that it got a bad rap thanks to its association with cryptocurrency’s price volatility, then…

When NZBusiness spoke to Lisa Martin, executive director of accounting solutions specialist GoFi8ure, late last year, she suspected many business owners were “in cruise mode” over payday filing – focused on just getting through the Christmas period. Now that New Year resolutions have been made she’s hoping that “sorting out payday filing transition” is the very first business resolution business owners will honour. “When you think about it, everything about running a business relates to people, strategy, execution and cash; payday filing is about people and cash,” says Martin. “So it deserves to be a major priority.” Her best advice? Look at the payroll set-up you have now, and get a trusted payroll advisor – that’s your payroll company or accountant, or your book-keeper – to ensure that its fit-for-purpose.…

Without a healthy planet to enjoy, what do we have? Duncan Forbes, founder of Go Native, which makes natural fruit bars and meals for the active outdoors market, says it’s a natural fit for the company to team up with Sustainable Coastlines to turn used sails into aprons and tote bags. Duncan and his wife came back to New Zealand after nine years in the UK with the ambition to set up a food brand that really captures the best of New Zealand produce and exports it around the world. Through a mutual friend they met fellow outdoors adventurer and now business partner Garth McIntyre, who already had a business feeding emergency and defence forces. After a discussion about the lack of quality, natural food products for active people, the…

SOMETHING like 80 percent of franchisors say ‘No experience needed’ when they are looking for franchisees – and they mean it. In fact, some actually say they prefer new franchisees not to have specific experience in the industry concerned so newcomers can learn the franchise’s systems without having to unlearn conflicting practices first. Of course, you still have to have the appropriate abilities, goals and attitude, but if you match your skill set to a franchise that offers good training, systems and support then it is indeed possible to be successful in a totally new area. Take, for example, the case of Kevin Jones. In 2008, Kevin, who had worked for the IRD for 30 years before a spell as academy manager for the Taranaki Rugby Union, bought a Speedy…

A RECENT discussion with a colleague in Auckland revealed we had both had the same surgical procedure paid for by insurance. I received full reimbursement as I paid a higher premium; my colleague has a policy providing 90 percent reimbursement. The total cost of the procedure was $10,550.10 for my colleague – mine was less as it took place four years earlier. Nothing unusual here – both procedures went as planned and we are both pleased with the outcome. However, and quite by chance, our local newspaper La Gaceta had an article on the private hospital being contracted by the local NHS to carry out a number of routine surgical procedures to cut the waiting list. Among them were 20 of the same procedures we have both received in Auckland.…

New Zealand businesses can no longer afford to ignore intellectual property assets while drawing up their risk management strategy, according to a review of IP risk management by Delta Insurance, Protecting Your Competitive Advantage. The review traces major trends in IP-related issues in China and the US and outlines the challenges that can come from legitimate organisations taking legal action to protect their interests. Review author Avani Vyas, a senior underwriter at Delta, says in a media release that IP registrations are rocketing globally as part of a major surge in the growth of intangible assets which now comprise almost 90 percent of the asset value of businesses “and patents, copyrights, registered designs and trademarks make up a big proportion of that”. She says patent filings worldwide increased by 8.3…

It’s a pretty safe bet that not many Reserve Bank governors globally can lay claim to having had a truck driver’s licence. But Adrian Orr’s family wasn’t wealthy and one advantage of that, he says, is that everything is exciting. You have to step up and make something of yourself. His mother, he says, is a wonderfully strong woman and a driving force. His father, who was of Irish heritage, died when Orr was 13 and his mother, whose father had immigrated from the Cook Islands in the 1930s, “was left with three crazed teenage boys in Taupo”. They were building a motel when his father died and the family continued in the industry for many years with his Cook Island whanau in Taupo and Rotorua, a big part of…

SEVERAL YEARS ago I interviewed a prospective new stylist for a role at Signature Style. Although she was unsuccessful for that role, this applicant left me with a lasting principle that I use every day in my business – that of “client eyes”. We were discussing the importance of keeping your working environment tidy and clean which is something I admit to being a little pedantic about. It is important to me that every client who sits down at Signature Style is not distracted by any dirt or mess. Even the bins must be emptied between clients. In her interview, this woman told me how in her previous role as a hair salon manager, throughout the day she would walk through the business with her “client eyes” which was basically…

Patsy Bass has completed a remarkable full circle. Born in Reefton (pop. 1000) on the West Coast in 1964, she grew up on the site of the original Monteith’s Brewery. Patsy’s dad was a coal miner, and following the 1968 Inangahua earthquake the family moved to Christchurch because her mum didn’t want her brothers working in the mines. “They were so homesick we came back every school holiday, long weekend, and often times in between, until I was 16,” she recalls. “So I still feel that I grew up here.” Then 15 years ago Patsy and her husband bought a bach on the Coast and spent as much time there as work commitments allowed. Patsy’s skill sets are focused around corporate project and change management, which would serve her well…

AARON MCDONALD, co-founder of Auckland-based blockchain company Centrality (which now has more than 200 developers within its portfolio) describes blockchain from a business owner’s point of view as a “modern-day cooperative”, where governance is controlled by software rather than a board of directors. “Everyone in this cooperative community is involved in making the business successful and benefits from its success. “The real power of blockchain is the ability to share any kind of data between parties and agree on how that data is updated,” he says, adding that it effectively takes the data monopoly away from big companies and gives smaller businesses the opportunity to compete better using the power of their combined data. “They don’t even have to know or trust each other; just agree on a set of…

• International delivery service, Just Eat, named veganism as a top consumer trend in 2018 due to a 94 percent increase in “healthy food ordered”. • Only one percent of US consumers claimed to be vegan in 2014. In 2017 that number had risen to six percent. • Increasing incidences of coeliac disease and heightened gluten-sensitivity in consumers has generated high demand for gluten-free foods and products. The global gluten-free retail market has grown from $1.7 billion in 2011 to $3.5 billion in 2016 and is forecast to grow to $4.7bn in 2020, according to Euromonitor. • The global gluten-free products market size was valued at USD$14.94 billion in 2016 and is expected to grow at a compound annual growth rate (CAGR) of 9.3 percent from 2017 to 2025. •…

ONCE UPON a time, shopping was a much more personal experience than it is today. In the 60s and 70s you’d go to your local grocery store and the owner of the shop (who would often be serving you) would know your name and what your regular purchases were. Fast forward a few decades and today customers often have to prove to retailers who they are before making a purchase. You can’t get much less personal than having to prove to a computer that you aren’t a robot! While technology has enabled speedier transactions and changed the way consumers shop, there has been a radical decline in the personalisation of your average retail experience. This is an area that retailers (and all businesses) must focus on, in order to satisfy…

The New Zealand Institute of Management, the professional association for managers in New Zealand, and the Institute of Managers and Leaders, Australia’s peak body for managers and leaders, have joined forces in a merger to become the Institute of Managers and Leaders Australia and New Zealand (IML ANZ). A media release from the new body says that this merger means IML ANZ has become the preeminent trans-Tasman professional association and accreditation body for managers and leaders. The institute will now award New Zealand’s top professionals with Chartered Manager, the internationally-recognised professional designation accrediting management and leadership excellence. The release says the merger has occurred “in view of a long line of synergies between the histories of the two professional associations. Both founded over 70 years ago, IML and NZIM have…

The New Zealand CIO Leaders’ Summit will bring together more than 200 CIOs, heads of IT and technology leaders from around the country to work together to share and benchmark ideas and challenges via a series of keynotes, workshops, targeted roundtable sessions, one-to-one business meetings and panel discussions. Over the day the audience will be able to take part in 15 plus presentations which are headed up by both local and international IT experts from organisations including Qantas, Pepsico, Fonterra, Citi and Fulton Hogan. The organisers say an exclusive group of vendor companies will also be at the summit to help IT executives around their upcoming IT purchasing initiatives as the summit includes a series of 30-minute pre-arranged face-to-face business meetings. The New Zealand CIO Leaders’ Summit is part of…

When Management spoke to Reserve Bank Governor, Adrian Orr, in mid-December, it had been a long year. He had moved straight into the Reserve Bank role in March 2018 without taking a break from his previous role heading up the New Zealand Superannuation Fund. “I am knackered, but it’s that time of the year. I keep saying to the staff, ‘breath through the nose, don’t send that email or text’.” And it has been a big year. There is real change afoot at New Zealand’s central bank and our ‘lender of last resort’. As Management went to press Parliament was finalising law changes that aim to give the bank responsibility for contributing to maximising sustainable employment and to move official interest rate setting decisions to a committee. Orr told Management…