Discuss about the New Zealand Business Environment.
The business operations in New Zealand society are much influenced by the bicultural heritage. Accordingly, the societal perspective affects the business operations in this country. Kelsey (2015) pointed out that The Treaty of Waitangi is currently marked as the foundation of modern state located in New Zealand. It even creates the formalized relationship between the Maori and British culture that help in protecting the traditions, practices and values of Maori. Bicultural in New Zealand generally refers to the non-Maori and Maori group of societies (Jacobson et al., 2016). The study is widely focusing on the implications of The Treaty of Waitangi on the business practices of Maori. The identification of the key characteristics of the Maori business practices will be helpful in understanding such impact on the business practices. Furthermore, the study will discuss the impacts of the external business during the strategic planning process. The application of the quantitative and qualitative analytical tool will be used for measuring the growth of Ngai Tahu Holding, which is a New Zealand based business and being affected by the biculturalism in the country. The company concentrates on the diversified portfolio for investing more appropriately to the cultural and social initiatives (Ng?i Tahu Holdings Limited. 2018). Understanding the impacts of the external forces and the opportunities for developing the partnerships with the external stakeholders will also be discussed.
Identification of the Stakeholder’s role in the Treaty of Waitangi
The Maori culture deals with the various types of stakeholders and every stakeholder plays the significant role in the business context. The government organisations mostly focus on working with the local stakeholders, especially with the local community and government, Maori group, pacific group, and voluntary sectors. Maori group maintains the special relationships with the British Crown that is set out in the Treaty of Waitangi. Treaty needs to provide the fundamental framework after recognizing the provision in a detailed way. Orange (2015) opined that each stakeholder group needs to meet the needs while collaborating with the government agencies. On the other hand, the government agencies also require establishing the robust partnerships arrangements with the Maori group. Especially, while formulating the policies and strategies and delivering or evaluating the strategies, such effective relationships will be much helpful (Moon, 2015). The collaboration between these two groups is significant for the business for improving the cultural appropriateness of the services.
Local authorities are the other stakeholder group in such context. They play the key role in developing the strategic level coordination as well as ensuring the integrated service delivery at the local level (Tsui et al., 2018). Especially, when the new government legislation is imposed, this collaborative partnership will be necessary for the business. Another stakeholder group is the community and voluntary section, which is play two major responsibilities. The first is to represent the voice and perspectives of the associated local community group (Stevens, 2016). The second responsibility is to provide the voluntary group the appropriate right to work for meeting the needs of the local communications. The pacific people formulate another stakeholder group that constitutes almost six percent of the entire population of New Zealand. The proportion is expected to be doubled by the year of 2050. They are involved with the range of community based group to perform more efficiently.
The Treaty of Waitangi needs to determine the appropriate application of the Crown Act or the demolishing the act (Tsui et al., 2018). The principles of the Treaty of Waitangi are much relevant in terms of developing the business operations. It even creates the formalized relationship between the Maori and British culture that help in protecting the traditions, practices and values of Maori. The four principles in relevance to the business operations are discussed further:
The ‘Court of Appeal’ identified that the Treaty signed the partnership between the races’. It was also implied that the Treaty requires building faith, which often turns out to be the characteristic obligations (Robinson & Liu, 2015). It is important to maintain the communicational transparency to develop more interpersonal relationships with the business partners. It creates more investment opportunities by receiving supports from the external environment. It also considers the responsibility of consulting the Maori and obtaining free, informed, and full consent of the right holders. The business development in New Zealand needs to consider this principle.
The principle of the Treaty considers the autonomy of managing their customary laws. The Maori traditions determine the individual economic, political, and social objectives and rights for making any specific decisions (Bennett & Liu, 2018). In case of the business development, the similar traditions are being followed. The business leaders require prioritizing the impacts of the external forces that determine the sustainability parameter in the future run. The individual rights are to be appreciated within the workplace. Providing the autonomy to work separately and create the unique outcome would become profitable for the company. This principle is well-applied to the business operations, especially, during the business decision making process.
Another principle of the Treaty is to maintain the equity between both the parties. The partnership law proclaims that the settlers’ interests should not be prioritized to the disadvantage of Maori (Simon-Kumar, 2015). Maintaining equity within the workplace can develop better work opportunities for the company for the long run. It would promote the biculturalism to maintain collaborations among the maori group and the other members. The equal opportunities and fair treatment even consider the development of the professional parameter. Similarly, in the business scenario, the maintenance of the fairly decisions and equity is necessary.
The principles of the Treaty of Waitangi determine the fair treatment between the Maori groups. The interests should be the same for each group within a business context.
These four principles have the relevance with the business scenario in New Zealand considering the biculturalism. Managing these principles is much essential for undertaking business decision making process.
Ngai Tahu Holdings Corporation Limited is an investor company based in New Zealand. The company has the active approach towards the effective investments, governance, and assets. The four major business objectives of the company are as follows:
Observing the business objectives, it can be stated that the company has been maintaining the effective partnerships with the external stakeholders. It is noticeable that bicultural in New Zealand generally refers to the non-Maori and Maori group of societies. The study is widely focusing on the implications of The Treaty of Waitangi on the business practices of Maori (Yong & Martin, 2016). The business is even following the principles of the Treaty of Waitangi while undertaking the business operations. It is important to maintain the communicational transparency to develop more interpersonal relationships with the business partners. The pacific people formulate another stakeholder group that constitutes almost six percent of the entire population of New Zealand. The business equity is maintained properly to divide the mutual benefits while dealing with the local communities. As per the Maori tradition, the individual requires concentrating on the economic, political, and social objectives and rights for making any specific decisions (Jaffe, Kushnirovich & Tsimerman, 2018).
In case of the business development, the similar traditions are being followed. The business leaders require prioritizing the impacts of the external forces that determine the sustainability parameter in the future run. It also considers the responsibility of consulting the Maori and obtaining free, informed, and full consent of the right holders. The company concentrates on the diversified portfolio for investing more appropriately to the cultural and social initiatives (Tsui et al., 2018). The new government legislation requires the collaborative partnership for maintaining the long term sustainability. The government organisations mostly focus on working with the local stakeholders, especially with the local community and government, Maori group, pacific group, and voluntary sectors (Kelsey, 2015). It even creates the formalized relationship between the Maori and British culture that help in protecting the traditions, practices and values of Maori. The equity maintained among the business stakeholders and the Maori groups has been maintaining the social and cultural initiatives and fair treatments. They maintain the communicational transparency to develop more interpersonal relationships with the business partners. It creates more investment opportunities by receiving supports from the external environment. Therefore, the rights are equally distributed considering the mutual benefits for both the parties. Such appropriate initiatives foster the bicultural relationships with the external environment.
Impact of the External Environment on Ngai Tahu Holdings
|
External environment |
Identify one item that is inherent in the area |
The impact of that item on Nagi Tahu business |
The response that Nagi Tahu made to the item |
|
a) Government policy |
Law change |
Investment settlements with the business partners |
Arrangements of the charitable organisations |
|
b) Legislation and common law |
Payment of the taxes |
Increasing payment on investment purpose |
Making the channelized approaches for the distributional purposes |
|
c) Economic dynamics |
Investments on the long term tourism sector to derive economic benefits |
Creates a range of attractions for the tourists and sells shares with the private companies |
Sharing the benefits with the partnership businesses |
|
d) Technology |
Movac Technology Fund |
Raised $105 million for the latest fund |
More investment opportunities for the business growth in future |
|
e) Sustainable management |
Long-term inter-generational development |
Considering environmental support through trusts and charities |
Creating wealth by using assets that will turn out to be much profitable for the future prospects |
|
f) Social trends |
Maintenance of the diversity among the Maori Group |
Partnership charity programs for the community members |
Long term sustainability with the diversified biculturalism and governing social investments |
1) Tool Used
The survey conducted among the associated members of Ngai Tahu Holdings Corporations Pvt. Ltd. The questionnaire is used as the analytical tool.
2) Data Sources
Primary data gathered from the associated employees of Ngai Tahu Holdings. Especially, the Maori grouop participated in this survey process. Their real life experiences are useful here to derive the response regarding the impacts of the external environment.
3) Impact
The data sources determine that the partnerships with the external environment help in developing the investment purposes. It will also be helpful in developing charitable funds for the welfare of the community. It also considers the responsibility of consulting the Maori and obtaining free, informed, and full consent of the right holders. It is noticeable that The equity maintained among the business stakeholders and the Maori groups has been maintaining the social and cultural initiatives and fair treatments. They maintain the communicational transparency to develop more interpersonal relationships with the business partners. The environmental governance provides the opportunity to the company for the long term sustainability. In addition to this, it creates the significant impact on the biculturalism in the society.
4) Assumptions
The obtained idea from the research explains that the government agencies also require establishing the robust partnerships arrangements with the Maori group. Bicultural in New Zealand generally refers to the non-Maori and Maori group of societies (Chan et al., 2018). The study is widely focusing on the implications of The Treaty of Waitangi on the business practices of Maori. It provides the assumptions of the external scenario that have the significant contribution towards business success. In fact, it was even noticed that the new government legislation is imposed for which the development of the collaborative partnerships are essential. The community development helps in establishing biculturalism within the society.
1) Tool Used
Interview has been undertaken among the associated managers of Ngai Tahu Holdings Pvt Ltd. The community members have also participated in this interview session.
2) Data Sources
Qualitative data is gathered from the external stakeholders or the community members and the internal managers of the company. They discussed the social initiatives undertaken by the company as well as the impact from the external forces that shape the business functions and influence the outcome more significantly.
3) Impact
The analysis of their responses determined the impact of the political, social, and technological aspects on the business. Accordingly, it also generated the information about the business investments on developing social welfare to promote biculturalism. In addition to this, it created more investment opportunities by receiving supports from the external environment.
4) Assumptions
The principles of the Treaty of Waitangi are followed and managed the equity much promptly. The business clarified the objectives of developing the partnerships among the bicultural atmosphere (Rangihau, 2017). The mutual trust maintained among the business stakeholders is the key to success for the business. On the other hand, the Maori group has been maintaining the social and cultural initiatives and fair treatments to sustain the position and maintain interpersonal relationships with the external stakeholders as well. The maintenance of the communicational transparency helps in promoting biculturalism and creates the opportunistic scenario for the business. The purpose of representing the voice and perspectives of the associated local community group is well-managed by the business leaders.
References
Bennett, S. T., & Liu, J. H. (2018). Historical trajectories for reclaiming an indigenous identity in mental health interventions for Aotearoa/New Zealand—M?ori values, biculturalism, and multiculturalism. International Journal of Intercultural Relations, 62, 93-102.
Chan, S., Beatty, B., Chilvers, D., Davies, L., Hollingworth, A., & Jamieson, I. (2018). Work-Integrated Learning in Aotearoa/New Zealand: Diversity, Biculturalism and Industry-Led. In Integration of Vocational Education and Training Experiences (pp. 165-187). Springer, Singapore.
Jacobson, C., Matunga, H., Ross, H., & Carter, R. W. (2016). Mainstreaming indigenous perspectives: 25 years of New Zealand’s Resource Management Act.
Jaffe, E. D., Kushnirovich, N., & Tsimerman, A. (2018). The Impact of Acculturation on Immigrants’ Business Ethics Attitudes. Journal of Business Ethics, 147(4), 821-834.
Kelsey, J. (2015). Reclaiming the future: New Zealand and the global economy. Bridget Williams Books.
Kelsey, J. (2015). The New Zealand experiment: A world model for structural adjustment?. Bridget Williams Books.
Moon, P. (2015). The Influence of ‘Benthamite’Philosophies on British Colonial Policy on New Zealand in the Era of the Treaty of Waitangi. The Journal of Imperial and Commonwealth History, 43(3), 367-386.
Ng?i Tahu Holdings Limited. (2018). Ng?i Tahu Holdings Limited. [online] Available at: https://www.ngaitahuholdings.co.nz/ [Accessed 2 Jul. 2018].
Orange, C. (2015). The treaty of Waitangi. Bridget Williams Books.
Rangihau, J. (2017). Maori culture today. Aotearoa New Zealand Social Work, 20(4), 3-12.
Robinson, A. R., & Liu, J. H. (2015). Comparative Approaches to Gendered Interventions in New Zealand Mainstream and Ethnic Communities. In Psychology of Gender Through the Lens of Culture (pp. 353-373). Springer, Cham.
Sharechat.co.nz. (2018). Ngai Tahu key investor in $105 mln Movac technology fund – sharechat.co.nz. [online] Available at: https://www.sharechat.co.nz/article/3aba6ab0/ngai-tahu-key-investor-in-105-mln-movac-technology-fund.html [Accessed 2 Jul. 2018].
Simon-Kumar, R. (2015). Neoliberalism and the new race politics of migration policy: changing profiles of the desirable migrant in New Zealand. Journal of Ethnic and Migration Studies, 41(7), 1172-1191.
Stevens, D. (2016). New Zealand’s Te Tiriti o Waitangi-Treaty of Waitangi: The past, contemplated in the present, is a guide to the future. Asia-Pacific between Conflict and Reconciliation, 3, 43.
Tsui, W. H. K., Balli, F., Tan, D. T. W., Lau, O., & Hasan, M. (2018). New Zealand business tourism: Exploring the impact of economic policy uncertainties. Tourism Economics, 1354816617731387.
Yong, S., & Martin, F. (2016). Tax Compliance and Cultural Values: The Impact of Individualism and Collectivism on the Behaviour of New Zealand Small Business Owners. Austl. Tax F., 31, 289.
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