Tuesday, May 29, 2007

Directors must rise to challenge

The statistics are compelling, ranging from low savings and productivity to weak engagement with the world economy through poor growth in exports and outward direct investment.

As a nation of four million people, we lack the domestic scale to build and sustain future levels of prosperity in line with the developed world. At its simplest, New Zealand needs to earn more and it needs to do this in a competitive and global marketplace by providing more goods and services that meet the needs and wants of discerning consumers worldwide.

Effective corporate governance can play two roles in this endeavour. First, corporate governance deals with how companies are managed and led (and how capital is applied within them and by them) and is therefore highly relevant because increased New Zealand engagement with the world economy must be characterised by more world-class New Zealand companies.

Directors must rise to challenge

Labels: new zealand, tone at the top

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