WORK WITH OTHER ORGANISATIONS
When PWC asked CEOs where they saw new growth coming from, local leaders were less likely than their global counterparts to rely on organic growth. Exactly threequarters of the New Zealand CEOs surveyed will rely on organic growth in the coming year, while the UK, Australia and the USA were all over 90 percent. “Instead, CEOs in New Zealand are taking a different tack: they are looking to work with other organisations to help them achieve their growth targets,” says the PWC report.
“Of our local CEOs, 72 percent stated they are seeking a new strategic alliance or joint venture to drive growth, compared to 48 percent globally.”
PWC says the implications here are huge for both incumbents and start-ups in New Zealand.
“One of the big trends we’ve seen among banks and insurers has been for established firms to partner with fintechs, rather than develop everything in-house. Clearly this approach isn’t limited to financial services though – it’s taking off across New Zealand. It’s also a trend seen in other areas like scientific research papers, where there’s a distinct shift from individuals having breakthroughs to research coming from groups of academics working together.
“We’re now seeing the New Zealand business world going the same way, with growth coming from resources, staff and knowledge that are shared between companies, rather than lone efforts from single firms.”