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In case of New Zealand as a country, it is seen that the present environment signifies lot of challenges. The challenges that are faced by the organization in New Zealand post the period of Global Financial Crisis involve a much lower pace of growth, brain drain where talents are moving away from New Zealand, having no companies in the list of fortune 500, etc. This has resulted in the fact that the productivity growth of the country is far less than Australia and is in fact one of the lowest amongst the developed countries. The productivity gap means that employees in New Zealand get substantially lower wages. In this situation of a difficult environment the study seeks to find out the challenges that are perceived by the CEOs in the environment. The study also recommends certain steps in order to better prepare the CEOs for facing the challenges in the environment.
In line with the challenges being faced by New Zealand and which the researchers have referred to in their opening paragraphs the question that they have tried to address in this research is “What are the critical challenges that are being faced by the chief executives in New Zealand?” and have followed up by another questions “What are skills required from the chief executives to be able to manage the challenges being faced?”
In addressing the research question the researchers have started by addressing the challenges of the border challenges that are being faced by the businesses operating in the country and the impact of those on the businesses. For this section of the research the researchers have relied upon various secondary sources including government reports, reports by media channels and works of other researchers. This has been followed with the survey of CEOs from all main sectors of the economy including private, government and not for profit organization. The survey was sent to 981 largest organizations from a wide variety of sectors. Amongst these the survey questions were answered by CEOs of 265 organizations. The 265 organizations included a list of 135 private sector, 62 public sector and 68 not for profit businesses (Hutchison and Boxall, 2014). The survey questions that were sent to the CEOs included both quantitative and qualitative questions. In the quantities set of questionnaire the researchers asked the CEO to rate on a liker scale about the different sets of risks and challenges that were being faced by them. In the qualitative section they were asked to describe the challenges faced by them. Based on the response of the CEOs in regards to the questions, the list of challenges that were being faced by the CEOs was identified. On the basis of challenges identified the researchers have proposed the list of skills that are expected out of the CEOs to address the challenges being faced.
The strength of the article based on the research question is as follows. In line with the identification of challenges, the technique and the procedure that was used to identify the challenges being faced by the CEOs of New Zealand’s largest organization is quite good. The response rate of the questionnaires has been good and there has been a good mix of respondents from different types of organization. The inclusion of qualitative section in the research can be perceived to be another strength as this has ensured that the CEOs haven’t been forced by the researchers to identify a risk from the list of risks defined by the researchers but to have their freedom in identifying the most relevant risk being faced by their organization.
There is however certain weaknesses in the study pertaining to the research question. The study sites the opinion of only CEOs in trying to identify the challenges that are being faced. However, seeking the opinions or other employees or manager in this regard could have thrown a complete or better picture about the challenges that are being faced. Secondly although the researchers sought the opinion of CEOs while trying to identify the challenges they did not seek the opinion while identifying the skill requirements. Although, he skill set have been proposed by the researchers based on the challenges being faced by the CEOs, these may not match with the skill sets that CEOs find as useful to address the challenges.
In this research, the researchers have tried to identify the challenges that are being faced by the CEOs of large organizations in New Zealand in the current environment. In line with the numerous challenges that have been thrown in by the global financial crisis and the brain drain that has been happening in New Zealand over the past years due to several reasons, the question that the researchers have pursued in this particular research becomes very important and relevant. In my view the research question that is being pursued in this research is quite relevant and so is the path that is being followed to address the research question. However, I feel that the researchers should have tried the same path in address the second part of the research question that they followed while addressing the first part of the research question. In other words the researchers should have sought the opinion of the CEOs while trying to find the skills that are required to manage the challenges being faced by the present day organizations. Additionally I feel that while trying to find the challenges that are being faced by the organizations, the researchers should have sought the opinions of different parties within the organizations and should not have limited their query to the CEO level.
Regarding the research question that has been pursued in the article and the results that the researchers have received as a result of their research, I agree to a certain degree. It is generally agreed in the other scholarly works that there are performance management issues in case of organizations in New Zealand (Northcott, D. and Ma'amora Taulapapa, 2012). The fact that the organizations in the 21st century face a lot of newer challenges that have been caused by a changing workforce mobility, technology and other factors have been agreed by a lot of researchers and have been found out in a number of surveys (Hashim and Hameed, 2012). The challenges that have been identified in this research as being faced by the CEOs of large organizations in New Zealand can be summed up as follows. Technological challenges which has rendered the future ambiguous. Managers are uncertain of the future state of their organization or rather the environment in which the organization operates. In many cases the core businesses of the organizations are being threatened by the technological changes. Second most important challenge identified by the CEOs in this research is the access to finance. In case of private organizations as in case or public and not for profit organizations, the CEOs were fighting a severe lack of funds. In case of private organizations the banks were unwilling to lend in the period of post financial crisis, and shareholders were unwilling to assume greater risks. The governmental and not for profit organizations too cited a lack of finance in an environment where central government was squeezing its spending and fund raising were more often than not resulting in failure. Third most important challenge that has been identified by the CEOs is the lack of talent in New Zealand. The situation has been a result of brain drain of people from New Zealand due to lack of big companies in New Zealand and lack of presence of a number of different types of manufacturing organizations in New Zealand. The situation has been aggravated by the retirement of baby boomers in large number resulting in a serious skill shortage for the organizations. The situation is compounded in case of not for profit organizations that due to fund constraints are unable to attract top talents. Although the challenges about the environment that have been identified in this research are in line with the challenges normally experienced by any organizations in general, the list of skills requisite of managers as proposed by the research is surely non exhaustive (Chuang, 2013). The researchers have identified a list of only three skills that the CEOs require to possess. However research shows that the CEOs or managers need to possess several other skills as well.
The essay in the above pages critically analyzes the research article “The critical challenges facing New Zealand’s chief executives: implications for management skills”. In this article the researchers citing the numerous challenges being faced by the organizations in New Zealand try to find out the challenges that are being faced by the CEOs or large organizations in New Zealand and try to find out the skills that are required of the CEOs for being able to address these challenges. Upon analysis of the research article it appears that there are certain strength and weaknesses of the article. Amongst the strengths of the article is its use of mixed methods for collecting the responses of the CEOs and having a representation of public, private and not for profit organizations in the sample. However, the researchers should have taken the opinions of others in the organization in order to better identify the challenges and should have asked for the opinion of CEOs in order to prepare a better list of the required skills.
Northcott, D. and Ma'amora Taulapapa, T., 2012. Using the balanced scorecard to manage performance in public sector organizations: Issues and challenges. International Journal of Public Sector Management, 25(3), pp.166-191.
Hashim, M. and Hameed, F., 2012. Human resource management in 21st century: issues & challenges & possible solutions to attain competitiveness. International Journal of Academic Research in Business and Social Sciences, 2(9), pp.44-52.
Hutchison, A. and Boxall, P., 2014. The critical challenges facing New Zealand's chief executives: implications for management skills. Asia Pacific Journal of Human Resources, 52(1), pp.23-41.
Chuang, S.F., 2013. Essential skills for leadership effectiveness in diverse workplace development. Online Journal for Workforce Education and Development, 6(1), pp.5-28.