Dialogue: NZ business nous already global

By MIKE PRATT*

Business education has been one of New Zealand's understated successes over the past decade and it is overdue for greater recognition.

Since Waikato Management School introduced the country's first four-year undergraduate degree in the early 70s - in line with North American standards - several universities around New Zealand have put this country's management education on the world map.

Both in terms of its research contribution and its export earnings through international students, management education has an enormous contribution to make to the country's economic development in the knowledge age.

By equipping New Zealanders to succeed in management internationally, as well as entrepreneurially in their own ventures, we begin to create the knowledge networks and enterprises necessary for future success.

The University of Auckland's intention to invest in a new, purpose-built business school signals a commitment to creating a world-class capability in management education in what is New Zealand's commercial capital.

This would address a lack of world-class business education in Auckland, but to equate this with a lack New Zealand-wide is to devalue the very real gains in management education already achieved.

New Zealand management research is informing the decisions and strategies to some of the world's leading companies. For example, Waikato Management School's ground-breaking research on peak performance has been adopted by several global corporations, including Procter & Gamble ahead of ideas from the world's best business schools and consulting houses.

We are working with P&G over several years in a project which worldwide chief executive A. G. Laffley explains is "unleashing and inspiring P&G leaders around the world". That is global impact from New Zealand thinking.

The world's major corporates seek us out because of the standing of our international research, which also attracts international teachers and researchers. Research-led teaching is the focus at Waikato Management School. London's Daily Telegraph newspaper called Waikato Management School the "Southern Hemisphere Harvard".

Auckland's decision to purpose-build its business school is a logical one. The learning environment is critical in any field of education. In management education, where information technology and other processes are key, it is vital that students as much as possible experience the environments they will encounter in their future careers.

In 2000, Waikato Management School won the "Worldwide Innovator of the Year" award from XPLOR International. Our joint venture with Southfresh, in which MBA students establish real businesses, attracted the attention of Britain's Financial Times newspaper.

Our Executive Education programmes provide in-house management training for leading companies including Fletcher Building and Fletcher Forests, Fonterra, BNZ and organisations such as AgResearch, Tourism Auckland and several regional health boards.

In New Zealand, a globally connected business school must encompass global issues and local action.

There are regional benefits in achieving quality management education. Waikato Management School has played a leading role in Waikato's Innovation Park, supported by the first Innovation Park grant ($2 million) from Industry New Zealand. The project will provide a world-class mix of facilities adjacent to the university and AgResearch.

In this context, the new Auckland Business School has a role to play. Established management research centres, like Waikato and Otago, have their own traditions and focus.

Waikato Management School has, in some ways, benefited from being a green field or two away from the political or business capitals. In addition, we have benefited from being in the heart of a region that remains New Zealand's wealth-creating capital thanks to agribusiness and related services.

* Mike Pratt is dean of the Waikato Management School.