But now the pull to join together again in person is strong and provides the chance to enhance and maximise future opportunities.
Further to the digital transformation, the past few years have also seen organisations need to re-evaluate what mattered to them and assess how they remain competitive and evolve while still delivering underlying fundamental returns.
Vital to delivering successful financial outcomes is the need for organisations to prioritise people, technology, and knowledge, all while staying true to values, business culture, diversity and inclusion, and increasingly around sustainability and climate.
A strong sense of purpose coupled with the courage to change has always been central to business success. It is those companies and leaders, many of whom feature on the 2022 Top 200 index, who took the time to take stock, reset or reaffirm their direction or purpose, and are now seeing the benefits as they continue to do business during this period of global volatility.
New Zealand’s economy, while taking some hits, remains well-positioned to ensure we’re set up to weather the challenges of inflation, geopolitics, and other international impacts.
We know these issues won’t impact all business equally and it’s therefore important that business leaders focus on what they can control and that there is still real opportunities to be leveraged in an uncertain economic environment.
As a country built upon and dependent on being able to trade with the world and always looking for new markets, we are well set up to capitalise on demand-driven from global insecurities.
We know how to diversify our export base and investment options particularly when it comes to food security, sustainability and climate, and digital enhancements.
If New Zealand businesses can jump on these opportunities then not only are we positioned to succeed through the adversity of current economic conditions, but to also showcase we’re continuing to lead on the world stage.
But even with open borders, we continue to face a number of challenges.
New Zealand’s business sentiment has reached lows not seen since the 2009 global financial crisis, and the limited talent pool and significant staff shortages, along with inflation rates, supply chain constraints, and access to finance are also top concerns.
Exacerbating worries about the talent pool is concern about New Zealand’s education system and that we’re not getting the basics right with our children and in turn not ensuring their future success or developing the talent we need for Aotearoa in the decades to come.
Furthermore, we are still recovering from the perception that New Zealand has been closed for business. But this is something that can be overcome through measures to show we are very much open for trade, international students, investment, and skilled workers.
It is important such measures showcase an integrated approach between the government and the private sector to ensure the recovery and future economic success of our country.
The businesses featured on the Top 200 index have all shown the leadership, innovation and resilience to succeed in recent times. They also understand the power of the economic headwinds that still lie ahead.
Congratulations to all of our 2022 winners and finalists, it is the outstanding leaders and people of these organisations, and the strategic choices and bold decisions they make, that continue to power NZ Inc forward, for the wider economic benefit of Aotearoa.
· Mike Horne is CEO of Deloitte.
