Perspectives

Attitude is the foundation of business character

By Councillor Peseta Sam Lotu-Iiga

July 2008

It's during times like these that attitudes which shaped New Zealand's character serve to strengthen our businesses, helping our economic resilience.

There is no doubt it's tough out there at the moment. A peculiar economic cocktail is being shaken worldwide. New Zealand is sampling it thus:

Globally, there is rising inflation; increasing interest rates (in New Zealand they're high); a tightening availability of credit; falling housing prices (which are the foundation of investments for many kiwi families); rising commodity prices - including fuel (which is a negative for isolated New Zealand) but also including rising food prices (which has a positive effect on the New Zealand economy, especially through the dairy industry); in some economies (including New Zealand) unemployment is rising.

More unique to New Zealand perhaps we have the first signs of softening in demand for commodities (including food) worldwide; tourism is softening; immigration has fallen off while migration to Australia is (apparently) booming; consumer confidence has plunged (which affects retailing); but countering this, the New Zealand dollar is dropping - meaning our exports are worth more.

What has this to do with business attitude and national character?

I believe success in business is driven by one's attitude. As attitude is entrenched, it becomes character - as Albert Einstein once famously noted. It is character that ultimately determines how competitive, and how robust we are in business.

New Zealand's business attitude is forged on strong kiwi values: rugged determination; number 8 wire mentality and inventiveness; a strong work ethic and a true sense of fair play. We are competitive and flexible; small enough to take knocks, and still get up again. We've done it for two centuries of economic cycles.

When times are tough we fight from the trenches. New Zealanders never give up. We look to our sports stars for a strong winning attitude as the driver of success; let's look to our business directors and leaders for the same. Attitude is the key to winning when times are tough, and rebounding as fast as possible out of any recession.

I urge Auckland business to hold to these values when times are tough. For every downturn, there is an upturn. But don't just wait. Get out there and push the economic wheel one cog further around.

Published July 2008