Waikato Business News September/October 2018

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12 WAIKATO BUSINESS NEWS September/October 2018 What the best leaders have in common The ability to balance exploitation and exploration for continued business growth is often undervalued in leadership roles. By DR HEATHER CONNOLLY Academic Director for Executive Education at the University of Waikato’s Management School Strategic thinking: classic business buzzword and staple management skill. While strategic thinking is indeed an important skill and is integral to innovative and effective decision-making, the 2018 KPMG New Zealand CEO Outlook report looks further, stating that, “Growth is as much about mind set as it is about market conditions”, a reminder that to keep growing is to keep moving. Here lies an overlooked quality the very best leaders have – the ability to exploit existing resources and explore new horizons simultaneously. Walking the tightrope For the past 10 to 15 years, organisations have directed most of their attention to making the most of what they have and improving on their existing products and processes for short-term profits and to deliver results to shareholders and the boardroom. This mentality is particularly evident during times of crisis, when companies look to see where they can cut costs and tighten up what they’re doing. But this isn’t enough to keep up with an environment and context that is predictably unpredictable, full of uncertainty and disruption. To truly be at the cutting edge, leaders need to always be preparing for the unexpected and to make innovation and new ideas an integral part of the way they operate. Put simply, leaders who can balance the tension between exploiting their resources to return shortterm profits for shareholders and constantly exploring new ground and scanning the horizons for new opportunities will outpace their competitors. The ability to present this perspective as a business case for long-term sustainability in the boardroom is the shade of difference between a good leader and a great leader. Successfully doing so requires an organisational culture and board relationship that are open and innovative, oriented towards change even in the face of uncertainty and risk. Innovation is key to navigating shifting sands, which is why it is one of three key themes woven into the Waikato MBA curriculum – because it will only become more important as the business environment becomes more uncertain. Crisis preparation begins yesterday When the American market dipped in 2008, businesses scrambled to mitigate the impact of the external chaos. Many large companies tightened their purse strings, kept eagle eyes on their cash flow, afraid to make a move that would sink the ship in the midst of rocky, unpredictable waters. However, the companies that explored new ways of doing things and pushed themselves to find different ways of survival during these trying times emerged better-placed, more resilient and more agile after the storm had calmed. These management teams responded to challenges as an opportunity, rather than merely battening down the hatches when the crisis hit. The best leaders not only perform well on a day-to-day basis, but prioritise creating space to explore – in R&D, and infuse a mind-set of curiosity and experimentation throughout their business. We need to stop thinking of innovation as grand, barrier-busting breakthroughs. The reality, as Facebook designer and author Tanner Christensen notes, is that “innovation is a long, arduous, and often invisible process to improve existing systems”. The organisation that has many little ideas in the pipeline with the potential to germinate is the one that will emerge ahead of the pack when volatility derails existing processes, operations and resources. The ability to walk the tightrope between exploitation and exploration is so integral to contemporary leadership that the second year of the Waikato MBA is entitled ‘Strategic Leader’. Designed to elevate participants from managers to leaders, the programme incorporates real case studies into the curriculum to stimulate higher-level thinking and unlock participants’ leadership potential. Innovation doesn’t happen overnight. It happens when a company and its board commit to the recognition that truly visionary leadership comes from cultivating the mind-set of exploration, where the horizon is constantly scanned for new possibilities. That’s how you grow leaders and businesses that advance through adversity. To learn more about the Waikato MBA programme visit exec.waikato.ac.nz/mba. Heather Connolly is an experienced management, risk, compliance and assurance consultant with clients ranging from large listed companies and government agencies to SMEs. In her role as Academic Director, she is responsible for the Waikato Master of Business Administration (MBA) course content and design. Heather is also a regular speaker at academic, industry and sector-related conferences in Canada, Europe, Australia and New Zealand. Tea from here is becoming world famous When the first vines at Marlborough’s Brancott Estate were planted in 1973, Frank Yukich asserted that “Wines from here will become world famous”. At the time, no one took him seriously. Just 15 years later, a Marlborough wine won gold at the Sunday Times Vintage Festival three years in a row – the first wine ever to do so. This success on the world stage, despite doubt from locals, is what helped Marlborough become the iconic New Zealand wine region it is today. And it seems tea is undergoing the same process here in Waikato. It seems an unlikely place to grow tea, yet Zealong Tea Estate is doing just that, their 48ha estate 22 years in the making. Initially a “passion project”, the Zealong tea brand was launched due to interest in the unique tea, which has only increased in the past few years thanks to numerous international awards. In 2017, Zealong’s signature Green, Oolong, and Black teas all topped their categories at the Global Tea Championships. The competition, held in Colorado, was a blind-tasting by experts and saw 245 entries from 16 countries. It was the first time Zealong had entered their teas into the international competition, encouraged by previous awards in the Best New Organic Beverage category at the Natural and Organic Products Asia and Europe expos in 2015 and 2016. As a bonus, Zealong Black was also awarded a People’s Tea Choice award at the World Tea Expo in Las Vegas that year. “As newcomers to the tea industry, we are extremely humbled to receive such high praise from tea experts and connoisseurs from around the world,” says Zealong GM Gigi Crawford. Like wine, the characteristics of a fine tea are heavily influenced by its environment. It is little surprise then, that tea-lovers around the world are lapping up the only tea grown in a country known for its purity. At home though, many New Zealanders still do not realise that world-class tea is grown on their doorstep. Zealong’s solution was to open up the estate to visitors, offering high tea and guided tours, teaching guests about tea culture and appreciation. Zealong’s tea-centred experiences have since become a firm favourite with tourists and locals alike. TripAdvisor Certificates of Excellence, NZ Beef & Lamb Excellence Award, featuring in a Lonely Planet New Zealand Guidebook, and a WWBEA Community Contribution Award are but a few of the badges of honour the estate now proudly displays. The estate’s newest addition, The Vista, won silver at the NZ Commercial Project Awards, and was even shortlisted for the Germany-based Euroshop Retail Design Award this year. Visitor numbers to the estate have surged over the past few years, with about one third of those local to the Waikato. But Crawford said she has observed steady growth in interest from Hamiltonians, and expects the tide to turn. “Look at where New Zealand wine is today – it is only a matter of time before Waikato, New Zealand, is famous for its tea.”
WAIKATO BUSINESS NEWS September/October 2018 13 Hamilton valve plant manufactures and exports to the world A Hamilton manufacturing plant is converting stainless steel billets into highly customised hygienic valves for dairy and food and beverage industries all around the world. Pentair’s Pukete head office is an Australasian manufacturing and sales base for a a multi-national company spread across 34 countries and with a revenue last year of $2.8 billion. The Kaimiro Street plant imports stunning quantities of stainless steel and on a daily basis in its high-tech plant coverts this into a mind boggling array of valves. The products created in this high-tech plant are then shipped to every continent in the world. The main industry within Australasia has principally been the dairy industry and the company’s impact remains strong in dairying, according to Pentair Head of Sales – Food and Beverage, Sam Andersen. The company’s role in the dairy industry is highly respected. “I would imagine you’ll find one of our products on every dairy site in New Zealand,” he says. But with an awareness of the seasonal nature of the dairy industry, over the years Pentair has invested hugely in diversifying and developing the business off-shore and further within the food and beverage industry. Pentair has a head office in Melbourne and sales staff in Victoria, Adelaide, New South Wales and Queensland while its influence has spread significantly into the food and beverage industry around the world. “Breweries, wineries, anywhere where a hygienic process is required we manufacture valves to suit those applications. It’s a very specialised and very customised process,” says Sam. Pentair’s valves are in demand through Australasia, Asia, Europe and the Americas with a number of huge clients including Bacardi in Puerto Rico. Pentair’s engineering manager, Shane Mason, says the manufacturing plant in Pukete has about 30 CNC (Computer Numerical Control) lathes and extremely specialised welding equipment. With this technology and the incredible institutional knowledge of its 80 staff, the business is able to provide a wide array of product and services – often intricately customised. “We can provide a complete range of hygienic valves, actuation and controls,” he says. “We produce high volumes but also pride ourselves on our ability to customise wherever necessary for our customers. “It’s one of the reasons our customers come back to us and deal with us over and over. We will do things that are a bit different – a bit quirky. We will always look at how we can modify products to provide customers with a certain solution.” And speed and agility – particularly for New Zealand’s high performing dairy industry – is a major factor. Unlike manufacturers in Europe and Asia, Pentair is also able to provide not only flexibility, but a quick turnaround. “The lead time for something coming from Asia or Europe can be two to three months whereas we can turn many components around inside four weeks,” says Shane. There have been a number of international ownership changes over the years for Pentair but the quality and the culture has never deviated, a fact reflected in its long serving and loyal employees. Pentair is just this month celebrating a staff member who has spent 50 years at the company while a number of others have worked for 30 to 40 years for Pentair. “The name on the front of the building has changed once or twice but the people inside are still the same,” says Shane. Pentair’s expertise is reflected in recent additions to its New Zealand operation: A service business which will go on-site, remove and service valves and calibrate instrumentation. Secondly, a Process Engineering team, which will work with customers to develop and deliver unique process solutions in the food and beverage industries. The focus is on being able to offer the full package for customers. “We provide and maintain a complete range of valves in any volume required and in relatively short time frames. And on top of that we can create and modify bespoke products for customers.” Pentair are leaders at what they do. Quality Solutions FOR HYGIENIC PROCESSES Our locally manufactured Process Valves & Components offer hygienic and aseptic processors the ability to establish automated routings with absolute confidence. Pentair has the best solution for your process needs. • Process Engineering • Maintenance Services • Project Management • Instrumentation Calibration 0800 151 891 PENTAIR.COM
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