2022 – Dynamic Business: Reimagining business

Reimagining Business is not a catchcry.

It is a gift in time when the dislocation caused by a global pandemic, now running into its third year, is catalysing change.

In the Herald’s Dynamic Business Report we take a look at how to maintain momentum in challenging times.

Auckland Business Chamber CEO Michael Barnett —whose business organisation has been in the thick of assisting its SME membership through the pandemic —talks about how Covid gave business a jolt. But it is time now to change the narrative, says Barnett and identify the essential skills, capabilities and workforce needed to fuel long-term recovery, support our sectors and industries to continue to be successful, and sustain core services. Wellness is a major focus for the chamber.

Business consultant Tim McCready examines some key trends that are influencing business in 2022. The most visible changes have been the rapid uptake of digital technologies and the rise of remote and hybrid working. Overshadowing these trends is increased geopolitical uncertainty; particularly now with Russia’s invasion of Ukraine.

McCready writes that with geopolitics entering a new era, businesses must walk a geopolitical tightrope and be ready to respond as events occurring elsewhere in the world impact their own operations, relationships, and people.

Technology writer Bill Bennett notes when people “moved to working from home”, many used advanced technologies like videoconferencing, cloud computing and collaboration software for the first time.

Investment in IT is now a business conversation, not a technology conversation. And New Zealanders’ reputation for being early adopters of technology is helping to spur a new wave of investment including in multi-billion dollar data centres and upskilling Kiwis with ICT skills.

ANZ’s Bernadette Shaw illustrates how the Cook Islands’ experience with the pandemic provides lessons for New Zealand business owners and directors across all industries, from tourism operators to fashion designers, to take steps ahead of time to ensure the foundations of their business are strong —and keep their heads held high enough to react quickly to the inevitability of change.

Russell McVeagh’s Jo Avenell observes, there is a huge amount of talent that is offshore now and wanting to come home. The best you can do is to back your culture, look after your people well and make sure the business is attractive to those who are ready to come home, says the law firm CEO.

Inflation, climate change and coping with workforce shortages are also canvassed.

Enjoy the report.

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