Posts Tagged ‘Economy’

1. Food for the nation

   Published on Tuesday, December 13th, 2011
   During the next four weeks New Zealanders’ combined spending on food, beverages and other grocery items is likely to once again break records.  Even though purse strings are tighter, people will over-compensate for fear of being caught short.

   Budget pressures aside, we forget how fortunate we are to have access to such an impressive choice of products, particularly as our Christmas falls in the summer season.  It’s a reminder of the critical role the food and grocery industry plays in NZ on many different levels, domestically and in exports.

   These important contributions were recognised at last month’s Food & Grocery Council Annual Conference, opened with a brief televised message from PM John Key.  The PM stressed the importance of the food and beverage sector to New Zealand. Now, he would say that wouldn’t he? But in fact the stature of our food industry has been recognised in a special way by the past two governments.

   When in office, Labour initiated a food and beverage taskforce chaired by Tony Nowell. Research undertaken by the taskforce started to crystallise for politicians the industry’s importance and opportunities.  This has continued under National, no doubt assisted by the foreign earnings’ contributions of food exports that are impossible to ignore in the world’s troubled economic environment.

   Our Government has set a target of tripling the country’s food and beverage exports over the next 15 years, meaning that the food and beverage sector will remain the linchpin of the New Zealand economy for many years to come.

   In its food industry, New Zealand has an enviable strategic advantage and we should celebrate our food heroes, big and small.  In the next month we’ll have every chance to do just that.

   What’s on your food and beverage agenda this Christmas?

2. Are we under or over hyping economic news?

   Published on Thursday, January 29th, 2009
   Over the holidays the only way I could feed my daily need for news was to watch either BBC or CNN. This diet of television news produced for a world audience left me with two lingering impressions.

   The first is that these iconic news services are depicting the economies of North America and Europe to be under far greater stress than our media portrays. It was not a case of the media dramatising the negative, rather a grim daily roll of rescue packaging to prevent fundamentally sound businesses being sucked under through the troubles of others.

   Commentators, whether European or American based, were of one mind. The world economy will not start to turn itself around until the American economy gets traction, and what has been done to date represents only the first tentative and superficial initiatives that will ultimately be taken.

   It seemed every new authoritative report or study published made the point that previous predictions around the extent of the situation, or the time required for a turn around, were too optimistic. The after shock would appear to have the potential for more bite than the initial onslaught.

   On the positive was the single minded determination and focus of world leaders to do whatever is necessary to kick start the world’s economies.

   My out-take was that while we need to be cautious about talking ourselves into making things worse than they really are, conversely we need to be just as cautious about hyping the positives to the point where we don’t see an advancing tsunami. On balance, I’m now more cautious about the coming 12 months than I was previously.

   On a lighter note, the other big impression was the extent to which international news presenters have ‘loosened’ up in their delivery. Rather than staid talking heads, presenters were using their hands, voicing opinions, being animated and coming out from behind their barriers.

   It was more akin to someone being in the room with you chatting about world affairs. No doubt, a sign of things to come here, in time!

3. Of course we can do it

   Published on Wednesday, January 21st, 2009
   By all accounts the coming year will be very challenging.  According to Treasury, the outlook for our economy and the employment look bleak.

   But the real risk is that we talk ourselves into a state of paralysis, or worse still, allow ourselves to be talked into one.

   While there is no ignoring the impact of contracting economies, history proves our resilience to international shocks: 9/11, the Asian financial crisis of 2002-03, the SARS outbreak in 2002. Each had an impact on our economy.

   Against this backdrop, perhaps the worst that can happen is that we believe everything we are told, because one lesson history has taught is that new opportunities arise from new challenges.

   An acquaintance in the USA tells me that even now, the financial situation there is changing the status quo.  People, she says, are talking to each other about matters that were hitherto entirely private. People are seeking advice on financial matters previously not talked about.  Surely even this is a change for the better, as people reach out to each other.

   I read today that graduates are returning to university as an alternative to job woes.  This is a constructive solution, and surely it can result in new insights from their research. 

   If necessity is the mother of invention this year will certainly be a positive and inventive one. 

   The one hairy monster we have to learn to curb this year is the prattling of doom merchants.  They are not to be believed, as for all their words, none could see very far ahead, which was proven when we plunged into the current recession without a word of warning from them.

   There should be one rule to commentators and spokespeople this year.  If you don’t have anything positive to contribute, don’t! 

4. Don’t rush the credits

   Published on Thursday, December 11th, 2008
   There are at least a couple of times during the year when the efforts of staff are formally acknowledged.  If yours is an organisation that has an annual report you will be familiar with the one or two lines in the chairman’s or chief executive’s report where staff are thanked for their contributions to the company and its performance.

   Another of these times is Christmas with set piece events like staff Christmas parties. These have become a well-worn tradition, however there is a danger that the event masks the real opportunity to say a simple thanks and “well done”. 

   With the downturn in the global economy and the effects of recession making their mark with retrenchments, it is important that employees know they are valued – and this goes for all staff, not just the “stars”.

   I was reminded this week how credits for the lesser player can be rushed.  I’d just watched a documentary on Pablo Picasso and noticed how deliberately the major credits were screened, and then the rest sped up to such a rate that they weren’t able to be read. 

   It seemed to me that this was the difference between acknowledgement and process.   

   Resist the temptation to turn staff Christmas celebrations into a process, and don’t rush the credits!

5. Tell it like it is

   Published on Tuesday, October 21st, 2008
   At a time when we’re being bombarded with grim financial news from every quarter it’s important to consider the impact on internal communication in the workplace.

    

   In a recent survey of 514 American workers released by Weber Shandwick and published in PR Week more than half said their employers had not addressed their concerns about the impact of the current economic turmoil.

    

   The workers were clearly worried – 70% expected the current economic situation to have a negative impact on the companies they work for, while 62% of those said their companies would have trouble meeting its goals.  The deafening silence from the top is no doubt contributing to their concerns.  And just because the boss isn’t talking about it doesn’t mean the staff aren’t.  Nearly three quarters of those surveyed said their colleagues are discussing the possibilities.

   The important message for employers is to communicate openly with staff, and to do it early.  Don’t let rumour and speculation rule.  Rumours are generally worse than the truth and can lead to a downward spiral in motivation, enthusiasm and commitment.

   Tough times are an opportunity for senior managers to communicate.  Gather the facts and make sure you communicate openly and honestly with your staff – and do it now.  Don’t let water cooler talk fill the vacuum left by a lack of real information.

   The survey was conducted by KRC Research between October 3 and October 6 with a margin of error of +/- 4.4% at the 95% confidence level.

6. Survival of the Fittest – who will win out in the end?

   Published on Thursday, October 2nd, 2008
   It seems to me that the current economic climate is possibly being met more with pragmatism than doom and gloom.  I attended a Public Relations Institute of New Zealand College of Fellows Symposium on Friday and the theme for the day was “Survival of the Fittest.”

    

   A panel discussion on the topic of how to survive in leaner and meaner economic conditions provided us with the opportunity to hear from Brent Impey, CEO MediaWorks; Scott Bartlett, CEO Orcon; Phil O’Reilly CEO Business NZ and PR person Michael Dunlop, Director of Republic of Acumen. 

    

   Each one of them acknowledged the challenges that companies are facing at the moment but what also came to light was that during tougher economic times, opportunities also exist for businesses to improve, but you must act quickly.

    

   As the Chief Executive Officer of Business NZ, Phil’s advice for businesses is “stay exactly the same – but don’t”.  He elaborated that it’s important for companies to stay true to their values, purpose and core brand during tougher times but to also be able to see when they need to change and react quickly to different market conditions. 

    

   Phil highlighted McDonald’s as an example.  While the golden arches remain, they’ve re-focused their menu on building in healthier options and reducing the amount of fat, sugar and salt in their original menu.  In fact, while other fast food chains are seeing lower sales, McDonald’s is seeing global growth.

    

   Brent Impey said that TVNZ and MediaWorks are actually doing ok in a tight market.  In fact, they’re seeing substantial improvements in regions such as Gisborne, which recently saw a 21% increase in growth.  He said it’s important to think beyond the Auckland market.  

    

   Scott Bartlett said it was important for businesses not to panic and lose focus on managing stakeholder relationships and instead reinforce stakeholder relationships.

    

   All of their ideas, advice and suggestions pointed towards optimism.

    

   Samantha Allen who heads up Pulse Communications, the consumer offering for Ogilvy PR Worldwide, offered some interesting insights into where public relations is heading in the next three – five years, and how it needs to evolve in order to survive and improve.

    

   She says key factors that will see the public relations industry continue to thrive include the ongoing importance of providing smart thinking and solutions to our clients, building strong C-suite connections (i.e. Chief executive level) and retaining the ‘grey-hair’ factor to do this.  She also highlighted the changing face of PR talent and addressing the needs of Gen Y.

    

   So what are your views?  How can PR and communications practitioners continue to retain clients and grow our businesses when times get tough?