Management + NZBusiness February 2019

Inspiring Business leaders

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M2 | | FEBRUARY 2019 A NEW YEAR As I write this in late December, in less than two weeks it will be 2019. And what will the year bring? Change and change and more change. I often wonder what life will be like for my sons, who are in their 20s, when they are my age. Will it even be recognisable? My parents' generation were born in the 1930s and the amount of change they have seen is astonishing yet they have adapted and learnt. They tap away on their devices and mobile phones; they follow family on social media and yet can remember a time when radio ruled the home, God Save the Queen was played before every movie started and once you got a job it was assumed you would have it for life. So while the world today feels as though it is in a time like no other, it's probably not. Change always happens and while it feels like it's accelerating at a speed that no one can keep up with, at the same time nothing changes. At the heart of everything we are all still human. We all care about and love our families and friends. We all have goals and things we want to achieve. We want the world to be a better place, for there to be more equity amongst people, world peace, the end of poverty and cruelty. So whatever automation/AI/the fourth industrial revolution will bring in the years ahead we are still people and the way we interact with one another is what is at the essence of who we are and our place in the world. As our story on dispelling the AI myths explains, on page 12, like most successful overnight technology wonders, artificial intelligence has been with us for quite some time. The term was first coined at a conference at Dartmouth College in 1956, so there is no overnight about it. It's taken 60 years to get where we are today. This issue we also talk to Reserve Bank Governor Adrian Orr who is believes New Zealand can be a leader in grappling with many of the big issues our world faces (page 6) and outlines what good leadership looks like to him. We also look at how to avoid a collision course with a workplace rival (page 10). Happy 2019. Annie Gray F R O M T H E E D I T O R 9 9 THE MARGIN RESCUE If there is no choice but to match a competitor's lower prices, then the "cost to serve" must also be reduced to maintain acceptable margins, says Paul Allen who sees business lessons to learn from the movie Apollo 13. 10 ARE YOU ON A COLLISION COURSE WITH A WORKPLACE RIVAL? Data from Formula One crashes helps explain how high-stakes collisions with workplace rivals happen. 12 DISPELLING THE AI MYTHS Your human-ness is what we need in the age of AI, write Darren Levy and Alex Hanlon. 14 BE HUMAN. BE KIND. BE BOTH. In a world of selfies, status updates, emojis and self-promotion leadership grounded upon kindness sounds revolutionary. We need more of it, writes Jane McCarroll. NZ Management magazine is published by Adrenalin Publishing Limited. It is the officially recognised magazine of the Institute of Management New Zealand. Editorial material does not necessarily reflect the views of IMNZ. Copyright: NZ Management is copyright and may not be reproduced in whole or in part without the written permission of the publisher. Neither editorial opinions expressed nor facts stated in advertisements are necessarily agreed to by the editor or publisher of NZ Management and, whilst all efforts are made to ensure accuracy, no responsibility will be taken by the publishers for inaccurate information, or for any consequences of reliance on this information. NZ Management is an 11 issue magazine. Subscription in New Zealand is $68 (incl GST). Please call us for overseas rates. Enquiries: Adrenalin Publishing Limited, 14C Vega Place, Mairangi Bay, PO Box 65 9092, Mairangi Bay, Auckland 0754, New Zealand. Phone: 09-478 4771, Fax 09-478 4779. Institute of Management New Zealand enquiries to: or IMNZ - Box 6600, Auckland 1141 Vol 66 No 01 • ISSN 1174-5339 (Print), 1179-3910 (Online) EDITOR Annie Gray ADVERTISING MANAGER Leanne Moss ADVERTISING EXECUTIVE Rachel Witberg DESIGN & PRODUCTION COVER IMAGE Gettyimages PROOFREADER George Ward PUBLISHER Cathy Parker CONTRIBUTORS Paul Allen; Matthew S. Bothner; Alex Hanlon; Richard Haynes; Kate Kearins; Wonjae Lee; Darren Levy; Jane McCarroll; Jackie O'Fee; Cathy Parker; Henning Piezunka. SUBSCRIPTIONS & CIRCULATION ENQUIRIES Follow us on

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