University of Auckland, Fletcher win global attention

Team NZ, of the Amazing Race.

Fletcher Building's drive to overcome difficult business conditions has seen the University of Auckland harness the energy of TV's The Amazing Race to beat all but one of the world's business schools in a global award for leadership programmes.

Born of Fletcher Building's recognition that the world financial crisis had left the company's dominant position threatened by global and local competition, the Leaders' Edge programme was jointly developed by senior executives from Fletcher Building and the university's Business School experts.

While the Christchurch earthquake rebuild meant a potential income stream for Fletcher Building, it also allowed international building products companies to enter their home turf. So the joint team came up with a leadership programme, referencing The Amazing Race, later entered in a global competition.

Many of the world's heavyweights in business education contested the award, called Excellence in Practice, run by the European Foundation for Management Development (EFMD). The silver award won by the university's Business School placed ahead of renowned institutions such as INSEAD in Europe. Chicago's Booth School of Business won the gold award.

The eight-month leadership programme was designed to enable Fletcher executives to make bold strategic decisions in times of uncertainty. It involved intensive coaching and mentoring as well as a four-day event, like The Amazing Race, where teams of participants were set difficult commercial challenges that mimicked the pace and urgency of Fletcher Building's business environment.

It helped propel senior employees to make strategic decisions that were timely, yet bold and risky but astute in an environment full of ambiguities. By the end of the course, they were already implementing strategies for change and innovation.

Kate Daly, Fletcher Building's chief executive of corporate services, said the programme had already delivered impressive returns on investment.

A new product was conceived and rolled out even before the leadership programme had finished - and is forecast to achieve 300 per cent growth this year. Efficient lighting changes at 14 Fletcher Building sites realised a 43 per cent internal rate of return and offers more savings within the next three years. It has also accelerated the growth and profit trajectory of two key business units.

Daly said: "Every team demonstrated the step-change in leadership we needed to see - sharper commercial thinking and the confidence to propose strategies that accept uncertainty and risk and embrace innovation."

She said the company chose to partner the Business School because of its willingness to step beyond the confines of being a traditional university to structure and deliver the programme.

"Our employees can say that the development programme we have put them through is truly global best practice."

Business School Dean Professor Greg Whittred said achieving a silver award from EFMD in a field that included such a formidable global line-up of business schools and corporates was outstanding.

The main criteria for the award were innovation and impact; judges said using a combination of academics, expert mentors and executive coaches was key to its success.

"The award is a tribute to the diversity and international expertise of our graduate school faculty and the experience they have acquired over the years by working intimately with the school's corporate partners."

• Content supplied by the University of Auckland Business School