New Zealand Business Practices - Research Paper Example

New Zealand business practices Lecturer’s New Zealand business practices In New Zealand in any business, it is of importance to dress appropriately. Both genders in the country are always advised to at all times to keep their appearance formal when doing business. However, an informal outfit is acceptable outside the business situation. The business and workplace culture in New Zealand is very reserved especially among new individuals, therefore; people in the country are not very friendly with new persons that they do not know well. It is expected that people should be on time for business appointments in the county. Lateness is not accepted in business and is considered as bad manner unless the person has a very good reason. In the country, the normal business hours are from 8.30 am to 5pm from Monday to Friday. For some businesses, they open on Saturday but not on Sunday and the normal business hours are usually from 9am to 12.30 pm. When intending to meet any business associate, individuals are advised to make an appointment in advance and business meetings are expected to start just after a few minutes of a small talk (Collins, Roper, & Lawrence, 2010). Trust in the business world in New Zealand is considered as a very important factor. Thus, individuals are encouraged to cultivate and build trusting relationships. If an individual’s indicates to a colleague some reasons not to trust them, then it becomes very difficult to rebuild the trust back. Business transaction’s, presentations and negotiations needs to be clear and on the point without a lot of flowery languages, as such practices are frowned upon. Often business negotiations are expected to take time without rush or the application of unnecessary pressure to force the deal through in order to make a sale in an effort of retaining the customer and convincing them appropriately in the right manner (Campbell-Allen, Houston, & Mann, 2008). According to Collins et al., (2010) the New Zealand business community does not allow haggling. In this regards when doing business, it is important not to start with high prices expecting to bargain downwards. Rather business persons need to start with realistic figures that provide the customer the required value for their money or they will opt for other alternative options. The accepted language for doing business is English, and very few organizations, and companies will use another language unless the particular language is specifically required for a delegates meeting or an event. When doing business in the country, first impressions are considered important. Therefore, when greeting other business people, a firm handshake is always recommended accompanied by a good eye contact. Often, according the countries practices, a man should wait for the woman to initiate the handshake (Cruickshank, 2007). When greeting, addressing or referring to a business acquaintance you should always use their titles and surname until the permission is granted to use the first name. The country has a law that provides employers with an authority of paying their workers differently in respect to their age, work experience, skills or level of education. However, all employers are expected to treat all their employees with equality and respect. Thus, discrimination of any form is illegal and legislation has been put in place that protects employees against any form of discrimination based on a person’s age, religion, sex, religion or in regards to their political opinions. The citizens of the country enjoy the protect granted to them by the Human Rights Commission that is mandated with a responsibility of protecting employees, services are free and all are welcome in case there is any breach of their rights (Anonymous, 2000). Moreover, every worker in the country has a right of joining any union that they wish to. At no circumstances is the employers allowed choosing a union for the employee and they are not allowed to influence any employees decisions in any way. In case an organization has negotiated some collective agreement with a particular union, then the organization needs to inform their employees before an agreement is reached to work for the organization (Collins et al., 2010). The important and exportation of goods in the country is a subject of control and prohibition. Generally, the exportation or importation of any endangered animals species, weapons, and drugs has been prohibited without authorization and is a subject of strict control. The country is involved in monitoring imports especially in relation to agricultural and food products to prevent pests introduction. Anybody found exporting or importing illegals products is subjected to the law and appropriate actions taken against them. Import licensing in the country is free but in some circumstances tariffs exist although the majority of imported goods are tariff-free (Collins, Lawrence, Pavlovich, & Ryan, 2007). In regards to prices control in the country, the Commerce Commission imposes price controls on services and goods in instances where there is a lack of market competition. Among the industries that are subject to price control, specific regulations include the electricity industry, diary, telecommunication, pipeline and airport services as well as the financial services. On the exchange controls, there are no controls for funds transfers out or into the country (Jian, 2005). However, money above $10,000 or that is equivalent in foreign currency being transacted in or out of the country needs to be declared. In regards to the government incentives to help in the development of a business, very few fiscal incentives are provided. However, the government is very vigilant and keen in promoting investment in the country as well as in the development and enhancing the global expansion of business, and it has provided organizations to provide the necessary assistance. Among them, include the New Zealand Enterprise and trade organization that assist in the development and expansion of enterprise and the science and innovation ministry that is involved in driving science and innovation (Roper, 2004). On business entities in the country, any foreign investor may operate in the country in whatever entity that they wish, as there are no restrictions put in place and the most frequent used entities are locally incorporated companies or a branch of foreign entities (Collins et al., 2010). The government has put no restrictions on the size of a foreign company capital investment, but it rather encourages more investments into the country. According to recent studied conducted in the country, there is still a glass ceiling that is in place for the female workers. This is because women workforce in the country makes up more than a half of the national workforce. However, despite the fact, the percentage of women in the high-ranking positions is relatively low as compared to the male gender. From the reports, more than 40 percent of lawyers were female but females occupied less than 20 percent of firm partners and less than 10 percent of seats on the boards of publically listed companies (Gabzdylova, Raffensperger, & Castka, 2009). In regards to the New Zealand firms, only a few firms have reached the upper limit of the operational outcomes and practices indices therefore only a few are likely to have developed the required cooperative and organizational culture that is critical for developing a sustainable world-class and competitive advantage. Many of the firms have a relatively good customer focus, information, and benchmarking practices. Many of the firms have also adopted the strategic approach to organizational development without focusing on the employee’s practices, technology and innovative practices (Coviello & Brodie, 2001). If these firms are able to develop their practices, further the business sector in the country will have a sound base for sustained competitiveness. References Anonymous. (2000). Business Ethics award winner: New Zealand Post. New Zealand Management, 47, 36. Campbell-Allen, N., Houston, D., & Mann, R. (2008). Best practices in New Zealand organizations for rewarding and recognizing employee innovations and achievements. Total Quality Management & Business Excellence. Collins, E., Lawrence, S., Pavlovich, K., & Ryan, C. (2007). Business networks and the uptake of sustainability practices: the case of New Zealand. Journal of Cleaner Production, 15, 729–740. doi:10.1016/j.jclepro.2006.06.020 Collins, E., Roper, J., & Lawrence, S. (2010). Sustainability practices: Trends in New Zealand businesses. Business Strategy and the Environment, 19, 479–494. doi:10.1002/bse.653 Coviello, N. E., & Brodie, R. J. (2001). Contemporary Marketing Practices of Consumer and Business-to-Business Firms: How Different are they? Journal of Business & Industrial Marketing, 16, 382–400. Cruickshank, P. (2007). Immigrant Diversity and Communication Practices in the New Zealand Business Sector. Business Communication Quarterly. doi:10.1177/108056990707000116 Gabzdylova, B., Raffensperger, J. F., & Castka, P. (2009). Sustainability in the New Zealand wine industry: drivers, stakeholders and practices. Journal of Cleaner Production, 17, 992–998. doi:10.1016/j.jclepro.2009.02.015 Jian, L. (2005). International transfer pricing practices in New Zealand. University of Auckland Business Review, 7, 59–65. Roper, J. (2004). Corporate Responsibility in New Zealand. Journal of Corporate Citizenship, 22–25. Read More