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It is fashionable to focus on the knowledge wave and the drive to be innovative both within
our own businesses and nationally. A recent study reported at the Smartnet Conference in
Christchurch shows the need be uniquely New Zealand and to put the "whole package"
together for international success. On its own, being innovative is not enough.
The study of 10 New Zealand firms employing 100 - 1,000 people and selected for their
exceptional record of success in both local and international markets demonstrates the 12 keys
to developing a global competitive edge.
These firms, which included Tait Electronics and Montana Wines, have developed in
small-scale market niches and have been protected from the full force of international
competition by distance or regulation. The firms were able to develop a range of capabilities,
which later formed the basis of their distinctive competitive appeal offshore.
Some of the required attributes of these companies were:
- Long term relationships with customers and distributors
- Adaptability
- A quality reputation
- The mastery of multiple technologies
- A non-hierarchical structure
- A focus on recruiting quality people and providing on-going training
- A broad balanced portfolio
The study suggest that overseas recipes for success don't necessarily work in a New Zealand
setting and that New Zealand firms have built competitive capabilities out of their
distinctively New Zealand experiences.
They are forced to focus on a few products, markets and technologies where their New Zealand
experience has created a distinctive advantage off shore.
The challenge is to the other 95% of NZ businesses that are looking to be more growth
oriented.
The study is published as "World Famous in New Zealand: How New Zealand's Leading
Firms Became World Class Competitors" and co-authored by Colin Campbell-Hunt. Colin
Campbell-Hunt is Reader in Strategic Management at Victoria University's School of Business
and Public Management.
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