The Importance Of Treaty Of Waitangi In Modern Business Scenario: A Case Study Of Ngai Tahu Holdings

Analyzing the Business Profile of Ngai Tahu Holdings

Discuss about the Indigenous Health & Role of Colonisation & History.

This report gives a detailed insight into the business principles of  treaty of Waitangi and its relevance  in the modern business scenario of New Zealand. This report analyses the business profile of Ngai Tahu holdings and its corporate objectives.It also analyses the growth of Ngai Holdings in terms of both quantitative and qualitative analysis. The treaty of Waitangi (TOW) is the only treaty of New Zealand that was formulated between the monarch of the British Empire and the  chiefs of the Maori tribe   in the year 1840(O’Brien, 2017).This treaty, however, affects the life of  the New Zealand public in numerous ways , like how they conduct their business and also their way of life.It recognizes the culture and the business practices of the indigenous people in terms of employment opportunities. It also establishes equality in business dealings amongst any demographic. Ngai Tahu Holdings is an investment company and represents a significant phase in the tribe’s long commercial history.  They are committed to prosperity for Ngai Tahu in both presents as well as future generations(O’Brien, 2017).

Considering  the Treaty of Waitangi, the stakeholders include government organisations, local stakeholders such as Maori, local government, community and voluntary sectors.The government organisations need to work effectively with local stakeholders to promote the significance of the treaty(O’Brien,2017)Maori have a special relationship with the Crown set out in the treat of Waitangi.There should be a good framework in place in defining relationships between them at all levels.The government agencies need to form  robust relationships with Maori groups during the formulation of policies.Local authorities are required to take up more responsibility  in  developing strategic co-ordination(Kennedy et al., 2017).Community and voluntary sector organisations play a key role in representing the opinions of local groups. They also play a role by working with government groups as a partner. Government organisations need to develop and sustain the ongoing relationship between the different groups involved(Spence,2016).

The principles of the treaty of Waitangi, including their relevance in today’s business environment include:

Protection- A  growing trend of enterprises  are realizing  that  application of values in business is  not relevant nor indulgent, but it is  an important component of effecient management, covering all facets of the workings of one company.Common business methods include  usage of principles as well as values to guide the manner in which a particular company and their subordinates operate. The Maori custom is based upon firm beliefs and a strong moral code which can be used to deploy  promote the development of sustainable business(Kennedy et al., 2017). The honoring of Maori spirituality can also be in pertinent in the modern external business environment. Harnessing spirituality is not a common practice in business , recent studies have been found that stimulate the usage of spiritual forces and an enhanced social responsibility in a bid to take advantage in a competitive market. Recent studies suggest that a mutually beneficial relationship exists between environmentally responsible business methods and financial benefit solutions. Companies with a structured and well thought out ethical plan do financially better than corporations that disregard ethical principles as a vital part of management.

Relevance of Treaty of Waitangi in Modern Business Environment of New Zealand

Partnership-One of the major initiatives that successful corporations do is create a labour force that incorporates a broader section of the population. This initiative is a major success because by incorporating numerous customs and cultures within the business; one can use these skills to reach a wider community(Kennedy et al., 2017). Maori constitutes the 2^nd highest percentage of New Zealand residents,  therefore it might make  a huge loss in the market share   if not considered properly through the proper channels. These could be business styles suited to the  Maori customers, opportunities that can be formulated to meet unique customer segments (O’Brien,2017).

Participation- The Maori have a huge population base, which represents a huge labour force.With  the advancement of global business opportunities increasing because of significant advancements in technology , there is a wider access to a very diverse customer profile. It has put a considerable degree of pressure on enterprises to correctly staff work force to meet  the increase in demand. (O’Brien,2017).

Incorporating Mauri values into company policy- Maori values include harmony, integrity and team work.They form a strong foundation for the management of the company (O’Brien,2017).A company culture incorporating a bottom line goal will  foster long term success and sustainable growth( Kennedy et al., 2017).The incorporation of spirituality will build and sustain employee relationships and can be used to  explore competitive advantage.

The mission  of Ngai Tahu Holdings is to be a profitable investment company ,building wealth for Ngai Tahu and  contributing sustainenance to the  economy of Ngai Tahu .The business objectives of Ngai Tahu Holdings are as follows:

Increasing shareholders equity -Ngai Tahu Holdings has been making inroads for massive investment opportunities  all around New Zealand to expand and consolidate its business operations after putting together a record profit.The business manufacturing unit of the South Island  reported that their net earnings had been $145.9 million in 2014 and says it further plans additional investment by $100 million.They plan to broaden their investment portfolio by venturing outside tourism.They wanted to invest in other avenuues like public transport whiuch is why they partnered with Tainui to purchase a public transport enterprise Go Bus from a private equity firm worth around $170 millin. Shareholder equity increased from $250 million  to $987.8 million in the spaceof one year and the Te Runanga Group equity – which includes the quota of seafood managed by Ngai Tahu Holdings .As a maori business,social or cultural goals are central to its functioning(Broughton et al., 2015).Recent research says that the Maori brand is very much in demand in the  interntional market. Maori businesses are  sometimes established to provide a creative outlet for expressing cultural values or to  nurture a strong sense of self and maintain literary arts and culture. Ngai Tahu holdings cater to such a business specification(Ontologies, 2014).

Principles of Treaty of Waitangi and Their Importance in Today’s Business Environment

Growing the business for future generations- The business leaders of Ngai Tahu have a strong sense of pride about their cultural legacy and hold a strong sense of duty of care to keep hold of that  legacy and the environment for  both present as well as for future generations .This is best encapsulated in M?ori principles of guardianship or kaitiakitanga. The company has always embraced their maori culture. They feel that they have a real connection to the land  and the adjoining surroundings(Broughton et al., 2015).Whatever biculturalism looks like, Ngai Tahu has the market and the cash to make a big push towards its tribal goals. In all their years of doing business, they have never forgotten their “true identity”.They were established to fulfil the dreams of everyone who fought hard over many generations to settle one fifty years of grievances with the Crown. They still continue to wisely invest in different sectors keeping in line with their values, to ensure  that their future generations have the tools they need to be successful even further(Wilson,2015).

Providing annual cash returns to Te Runanga  – Te Puawai is a Runanga entity established by Te Runanga o Ngati Whare for charitable purposes benefiting Ng?ti Whare which include educational and social well being,healthy well being of aged and physically disabled people and business or vocational training(Broughton et al., 2015). Importantly, the Runanga exercises strategic governance over the charity by taking control over the appointment and removal of trustees… Moreover, the funds available to  be applied to charitable purposes are taken from the R?nanga, which in turn depends on income from the company for this purpose(Axelsson, Kukutai,& Kippen,2016). This above objective confirms to the maori business principle of Puawaitanga, which states that the maximum return is focussing on integrated goals.. This integrates financial, cultural, social and environmental goals(Axelsson, Kukutai,& Kippen,2016).

Developing future strategy and assessing  the available opportunities- Ng?i Tahu Holdings manages a diverse portfolio of  investments across four subsidiary companies namely Ngai Tahu Capital,Ngai Tahu Farming, Ngai Tahu Seafood, Ngai Tahu Property and Ngai Tahu Tourism.Ngai Tahu Holdings  is of the belief that  the building of  calculated partnerships is vital , when it comes to integrating long term targets (Axelsson, Kukutai,& Kippen,2016). This comprises of building a good relationship with the Crown and local government entities. An example illustrating the above fact is the joint venture among Ngai Tahu Property and the Christchurch City Council, which oversaw the successful building of a   new council establishment(Fisher, 2015). This project was  the first calculated partnership of its kind in the counntry .This confirms to the Maori business principle of Rangatiratanga which states the use of leadership and authority while dealing with issues like strategic development, resource management, and investment risk analysis.

External environment	Identify one item that is inherent in the area	Impact of that item on Ngai Tahu Holdings	A response that Ngai Tahu made to the item
a)Government Policy	The law change in the form of increased environmental protection(Berry et al.,2017)	A more sustainable balance is preserved between business and environment	Ngai Tahu Holdings took appropriate steps to ensure compliance of environmental protection. (Berry et al.,2017)
Legislation and Common law	Law Change in the form of the Resource Management Act(Tipa,&Nelson,2017)	Recent reforms to RMA encourage local government to involve Maori in decision making relevant to Maori resources	Ngai Tahu Holdings made a formal attempt to understand the responsibilities and obligations of both parties.
Economic Dynamics	Recession	Business may become risk averse, which may limit uptake of those opportunities which are available(Reid & Rout.2016.)	Reviewing their marketing strategies and developing innovative practices((Reid & Rout.2016).
Technology	Implementation of Technology Investment Network	More access to the international market	Increasingly seeking the international presence in order to reap the benefits of
Sustainable Management	Indigenous Sustainable development and Sustainable Tourism(Bargh, Douglas & Te One, 2014).	Increase in revenue and commercial asset base.(Bargh, Douglas & Te One, 2014)	Promotes sustainable development and preserves the ecological balance
Social needs	Increased social awareness	More promotion avenues available for business expansion	Taking initiatives to integrate financial and social goals

Quantitative and Qualitative Analysis of Ngai Tahu’s Growth

 1) The quantitative analytical tool used in this case is graphs viewed from secondary online sources.

Figure 1-Growth of Ngai Holdings

Source- (Tudor,2016)

 3)  From the above data,it is clear that there has been a significant rise in total  equity and total assets with a significant reduction in external debt over the last 15 years (Tudor,2016).

4) The trend assumes a linear growth model.

The  qualitative analytical tool used is an interview

According to interviews conducted, there has been a significant growth in the investment portfolio of ngai holdings.They have invested in many sectors like capital , tourism, and seafood.

This tool signifies the growing rise of investment opportunities in Ngai Tahu Holdings.

It assumes that the interviews were conducted in conformance to adequate health and safety standards(Axelsson, Kukutai,  & Kippen, 2016).

Conclusion:

The Treaty of Waitangi focusses on building a  relationship of openness and  trust between the Crown Monarch and the Maori tribe. They are both of the opinion  that both their mutual interests are fostered by the partnership. There  should be a continuous communication channel between the two parties. This Partnership should permit the use of a common sense of action around common issues. However it should also make way for the  development of both of these cultures and represent them as equal.The role of Government in  proceeding the conversation  beyond its current point will be crucial. It will need the Government to start  an open communication with Maori about  the objective of social instead of  setting the terms of the debate as it does presently.This report firmly illustrates the fact that the Maori business principles are much relevant to the modern business structure in New Zealand. It fosters ecological balance, sustainable development, and environmental preservation.Ngai Tahu Holdings are a prime example of what a Maori business aspires to in the modern business world.Ngai Tahu holdings is a very successful business organization ,founded on the principles of Maori business and are a great example for future entrepreneurs to follow.

References:

Axelsson, P., Kukutai, T., & Kippen, R. (2016). The field of Indigenous health and the role of colonisation and history. Journal of Population Research, 33(1), 1-7.

Axelsson, P., Kukutai, T., & Kippen, R. (2016). The field of Indigenous health and the role of colonisation and history. Journal of Population Research, 33(1), 1-7.

Bargh, M., Douglas, S. L., & Te One, A. (2014). Fostering sustainable tribal economies in a time of climate change. New Zealand Geographer, 70(2), 103-115.

Berry, K. A., Jackson, S., Cohn, T. C., & Matsui, K. (2017). Indigenous water histories II: water histories and the cultural politics of water for contemporary Indigenous groups.

Broughton, D., Te Aitanga-a-Hauiti, T., Porou, N., McBreen, K., Waitaha, K. M., & Tahu, N. (2015). M?tauranga M?ori, tino rangatiratanga and the future of New Zealand science. Journal of the Royal Society of New Zealand, 45(2), 83-88.

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Kennedy, D. M., Harrington, C. F., Verbos, A. K., Stewart, D., Gladstone, J. S., & Clarkson, G. (Eds.). (2017). American Indian Business: Principles and Practices. University of Washington Press.

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Ontologies, M. (2014). contributions to the theory and practice of model-based systems engineering through research and education.

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Tipa, G., & Nelson, K. (2017). Eco-cultural restoration across multiple spatial scales: a New Zealand case study. Water History, 9(1), 87-106.

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Wilson, D. (2015). Satisfying honour? The role of the Waitangi Tribunal in addressing land-related treaty grievances in New Zealand. In Land, indigenous peoples and conflict (pp. 106-119). Routledge.