Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Scope for greater use of business coaches in New Zealand

Scope for greater use of business coaches in New Zealand


New Zealand business owners and senior management are among the heaviest users of business coaches in the world but there is still scope for greater involvement, according to Pam Newlove, Chair of Grant Thornton New Zealand Limited.

The latest Grant Thornton International Business Report survey of 45 countries has ranked New Zealand in sixth position, with 56% of those surveyed reporting they have used a business coach. A further breakdown revealed that 34% were currently using a coach and 22% had in the past.

“It can be pretty lonely running a business and a business coach provides an opportunity to talk with someone from outside the business in a non-threatening way,” said Newlove.

“They add value because they are impartial and it’s then up to the owner or senior management to consider the input from the coach and adopt or dismiss the advice they’ve been given. The recent recession is likely to have increased the need for coaching as well, as when tough decisions need to be made, the benefits of an external sounding board are even greater.”

The Philippines leads the world with 90% of business owners using or having used coaches followed by Taiwan (71%), Armenia (70%), Malaysia (66%), Botswana (62%) and Singapore alongside New Zealand on 56%.

“In many ways, New Zealand is trending towards the emerging economies in their use of coaches. As well as the countries above us in the survey, Chile, India, Russia and Brazil are also strong in the use of business coaches.

“Businesses in the emerging economies tend to have fewer regulations in some areas compared with those in mature economies like the United States, which gives business owners and coaches a greater opportunity to be innovative and different.

“New Zealand also has its own somewhat unique challenges in our isolation, reliance on primary industries and limited access to technology compared with advanced countries. Countering that is our ‘can do’ attitude and the ability to visualize the benefits of success.

“Our younger business owners tend to be pragmatic and are always looking to find a win-win solution, rather than trying to trump another company or person. Impartial coaches can have a positive impact on these situations as they do not have a personal agenda that can stymie a sensible outcome.”

Newlove said that coaching should not be confused with mentoring, which tends to have an internal focus and is undertaken by a senior staff member, who’s unlikely to have the same impartiality as an outsider. It can be easy for a mentor to slip into bullying behaviors because of their seniority, and other personal agendas that may be at play, such as role insecurities.

“A good coach will guide a business owner – not try to bully them.

“It’s worth investing time in finding a well suited, experienced coach, as just like in any sports team, a good coach is a game breaker,” she said.

- ends -

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Fruit & Veg Crackdown: Auckland Fruit Fly Find Under Investigation

The Ministry for Primary Industries (MPI) is investigating a find of a single male Queensland fruit fly in a surveillance trap in the Auckland suburb of Grey Lynn... MPI has placed legal controls on the movement of fruit and some vegetables outside of a defined circular area which extends 1.5km from where the fly was trapped in Grey Lynn. More>>

ALSO:

Scoop Business: Westpac NZ Reaches $2.97M Swaps Settlement

Westpac Banking Corp’s New Zealand unit has agreed to pay $2.97 million in a settlement with the Commerce Commission over the way the bank sold interest rate swaps to farmers between 2005 and 2012. More>>

ALSO:

Going Dutch: Fonterra Kicks Off $144M Partnership With Dutch Cheese Maker

Fonterra Co-operative Group, the world’s largest dairy exporter, has commissioned a new dairy ingredients plant in Heerenveen, in the north of the Netherlands, its first wholly-owned and operated ingredients plant in Europe. More>>

ALSO:

Scoop Business: NZ Retail Sales Beat Estimates

New Zealand retail sales rose more than expected in the fourth quarter, led by vehicle-related transactions, food and beverages, adding to evidence that cheap credit and a growing jobs market are encouraging consumers to spend. More>>

ALSO:

Delivery Cuts Go Ahead: 'Government Money Grab' From NZ Post

"It's a money grab by the Government as the shareholder of New Zealand Post" says Postal Workers Union advocate Graeme Clarke about the changes announced by NZ Post. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news