It will cost the taxpayer $1.3 million to teach Kiwi bosses how to do business overseas.
Minister for Economic Development Gerry Brownlee said the aim of the new government-funded programme is to encourage New Zealand managers to adopt a “global mindset”.
Research shows New Zealand businesses lag behind other countries in adopting the management mindset needed to succeed in international markets.
“Management and leadership capability affects the productivity of businesses operating internationally, said Mr Brownlee.
“If we are to improve productivity, and therefore economic growth, we need to improve the capability of New Zealand managers and executives doing business overseas.”
The University of Auckland Business School, business growth centre The ICEHOUSE, and United States-based Thunderbird School of Global Management – which is currently rated first in the world for executive education by the Wall Street Journal – will design and a 12-month pilot programme.
Chief and senior executives, owners and directors will be targeted by the new programme with the aim to internationalise New Zealand firms and improve their prospects for success in overseas markets.
Research released earlier this year by the Ministry of Economic Development showed the management practices of New Zealand manufacturers were “middling to average” by global standards, said Mr Brownlee.
“The Management Matters report showed our manufacturing firms are good at operational and performance management, but find it hard to attract and retain talented staff and are not good at addressing poor performance. There is a lot we can learn from being exposed to overseas best practice.”
The programme, which is expected to become self-fundeding, will commence in the middle of next year.