Under the leadership of Tā Tipene O'Regan, long-time chairman, the Ngai Tahu Trust Board is now a major equity force. Photo / Michael Neilson.
NZH 23May19 -
Under the leadership of Tā Tipene O'Regan, long-time chairman, the Ngai Tahu Trust Board is now a major equity force. Photo / Michael Neilson.
NZH 23May19 -
OPINION:
Māori are finding success in business by honouring the past, tackling present challenges with kaha, and staying focused on the aspirations of future generations.
Now estimated to be in the realm of $70 billion, the Māori economy is an example of astonishing resilience. Māori companies work hard to balancepeople, planet, and profit, and they do this by prioritising values such as kaitiakitanga, whānaungatanga and manaakitanga through proactive guardianship of land and resources, building lasting relationships, and caring for families and communities.
This is particularly important to iwi-run businesses, as they are directly accountable to the whole tribe. Iwi organisations are now some of the biggest in Aotearoa New Zealand, controlling and managing significant land and assets.
There are quite a number of iwi that are multibillion-dollar corporations with diversified portfolios in forestry, fishing, food, agriculture, tourism, real estate, aquaculture, transportation, construction and manufacturing.
Michael Stiassny has steered Ngāti Whātua Ōrakei into a solid financial position over the past decade. Photo / Jason Oxenham
In addition, Māori businesses are active in film, fashion, digital media, screen production, arts, gaming, education, performance, theatre, augmented and virtual reality and artificial intelligence.
We are also seeing Māori businesses in the wellness industry, a global industry now estimated to be around 4 trillion and growing.
It’s not always easy navigating the challenges of today along with multiple stakeholders’ demands, yet, because Māori often do it well, interest is rising in the Māori economy and Indigenous ways of doing business, particularly in relation to sustainable and social enterprise.
Associate Professor Rachel Wolfgramm. Photo / Supplied
For example, designing products and processes in a circular way can align with mātauranga Māori because the focus is on reducing environmental impact and reversing biodiversity loss.
Māori knowledge and kaupapa, based on centuries of observing and living with nature, give Māori as tangata whenua an edge. In addition, natural disasters and market “shocks” are not new to Māori, who have had to live with the results of both for centuries. Being dynamic, adaptive, and innovative is highly valued.
However, conservatism is quite a strong characteristic in some Māori entities, having learned to be cautionary and think about the long-term consequences of decisions.
Despite the opportunities and upward trend in the Māori economy, Māori are still held back in business in several ways. Consistent challenges include recruiting and retaining staff, brand narratives, governance, and access to capital.
However, some incredibly successful Māori companies do all of the above really well without compromising their values. They are exemplars for all businesses interested in taking an intergenerational approach and leaving a positive legacy for future generations
Associate Professor Rachel Maunganui Wolfgramm is Associate Dean Māori, Associate Dean Pacific, and Director of the Dame Mira Szászy Research Centre at the University of Auckland Business School. Rachel is also Executive Director of Ngā Ara Whetu, Centre for Climate, Biodiversity and Society. She is of Te Aupōuri, Ngai Takoto and Whakatōhea, and her heritage includes Vava’u Tonga.
