He Pānui – Te Tui – Kōanga 2015

He Pānui – Te Tui – Kōanga 2015

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E NGĀ IWI, E NGĀ REO, E NGĀ KARANGATANGA MAHA TĒNA KOUTOU KATOA

At the end of August, we were honoured to attend the launch of the Te Uru Rangi scholarships as a result of a collaborative partnership between Enspiral Dev Academy, Te Puni Kokiri, New Zealand Trade and Enterprise and Callaghan Innovation. Enspiral Dev Academy works closely with industry partners in the technology sector and as such can boast an 80% success rate with students walking into jobs in companies such as Xero within months of completing the 18 week programme.

The tech industry is one of the country’s fastest growing sectors and provides opportunity for young Māori to enter high value jobs. We salute those iwi that have partnered in this programme to help transform the lives of their rangatahi, and their whānau who follow in their footsteps. 

And recently Te Wharekura o Mauao from Tauranga travelled to Silicon Valley to take part in an exciting new initiative being trialled at Stanford University. The initiative aimed to test an experiential learning model aimed at building curiosity, ideas and inspire Māori students to think about careers in STEAM (science, technology, engineering, arts and maths) related areas. This was a Māori led, government enabled initiative and we congratulate all organisations involved and particularly the sponsor organisation Te Kumikumi Trust, and their shareholders. It takes foresight, vision and an excellent understanding of the big picture for individuals to forego their current dividends in favour of the future. 

In this, our second issue of Te Tui, we look more closely at the Global Megatrend in relation to technology and discuss some recent initiatives in respect of backing our up and coming Māori business leaders.

MEGATRENDS

Global Megatrend #2 - Enabling Technology

For many, it’s hard to imagine life without the smartphone. For those that have been divorced from their little device for any period of time, it’s an experience not many would want to repeat. Some may even go as far to say that technology has made life so much easier and a lot more convenient.

The apps on these little devices form the basis of an industry that barely existed 10 years ago as noted in the graphic below.


Add to this the gaming and robotics industries along with the many other aspects of the tech industry and it’s not hard to imagine opportunities for our tamariki.The number of global internet users increased from 360 million to 2.4 billion in the 12 years between 2000 and 2012.

So what could this increased “ease” in life and the growing number of global internet users mean for those living here in Aotearoa? In essence there are both challenges and opportunities to consider.

Challenges

  • Technology has and continues to impact on the volume and speed of access to information. Governments, iwi entities and businesses that are slow to communicate will lose that opportunity to get their messages out first as this will be done by others, with risks to accuracy and even worse distortion.
  • Survival of businesses is less certain in a technologically-enabled world, creating major challenges for governments in the areas of economy and employment. In 1937, a business spent approximately 75 years in the S&P 500 Index. This is projected to reduce to 5 years by 2025. What does this mean for our portfolios if these are the type of companies our funds are invested in?
  • There will be higher rates of skills obsolescence due to technological advances. What is required to ensure our labour force is nimble and adaptable in a fast changing business landscape?
  • Automation will continue to increase due to the productivity and profitability benefits for industry. This poses a threat to any jobs that can be replaced by a machine. How do we future proof our people to deal with this? Which industries are least likely to be replaced by technology in the next 50 years?
  • Active Cyber security measures will need to be considered to deal with the growing level of Cybercrime.

 

The Consequences of Enabling Technology
The Consequences of Enabling Technology

Opportunity

There are opportunities to capitalise on these shifts.

  • Actively gather, manage and use data to remain connected and relevant to people, users and customers and to inform decision making
  • Use technology to collaborate, solicit feedback and collectively solve common challenges eg crowdsourcing solutions
  • Develop programmes that aim to prepare people to be actively aware, adaptive and nimble and allow them to bring their creativity and initative to solve problems and create opportunities.
  • Incentivise rangatahi into industries that show promise and opportunity into the future rather than prepare them for today’s jobs that may not exist in the future
  • Support initiatives that aim to prepare tamariki for the future – whether through programmes aimed at professional development for teachers or directly targeted toward positive experiences for tamariki, particularly in the STEAM subjects (science, technology, engineering, arts and mathematics)
  • Allocate resource for accessing leading thinking on new and emerging technologies, technology trends and the relevance to iwi, Māori organisations and opportunities for their people.
  • Support wānanga that encourage the adoption of technology as a contributor to future wellbeing
  • Emphasise training for staff to increase their awareness of new technologies and innovations
  • The global reach of technology provides an opportunity for people to stay “at home” in the rural and provincial regions and access global trading opportunities, providing the technology infrastructure is in place.

We will require our young people to be agile, nimble, fantastic problem solvers and above all, have the skills to bring people together.

"Companies facing constant tech evolution and market uncertainty need employees who have Macgyver type skills as well as a grounding in science, math, and engineering disciplines because those who have perseverance, curiosity, and skills to solve problems are coveted employees" Anne Gibbons - Stanford D School Fellow and Design Lead at Matri Design

The rangatahi from Te Wharekura o Mauao have commenced this journey and hopefully many more will follow.

FUTURE LEADERSHIP

In September, Te Pūtea Whakatupu Trust did a fantastic job of bringing people together and showcasing the young talent among us at it’s annual Ngā Whetu Hei Whai conference. It was our honour and privilege to partner with an organisation that is playing a huge role in developing and supporting rangatahi on their respective pathways to leadership.

The Trust provides 45 scholarships across commerce, business or management, fisheries, aquaculture or marine science and agribusiness or agriculture. While the financial aspect of the 45 scholarships was certainly appreciated, our discussions with recipients centred on what it meant to belong to a group who were all striving to succeed, grow their skills and give back to their people in the longer term.

Comments such as "it is nice to be among others who have similar dreams and aspirations". For those who didn’t already have a strong connection to their taha Māori, being part of a roopū like this provided the encouragement to explore it further. When we look at our own commitment to growing and developing future Māori business leaders, it’s great to have partnerships with organisations who are thinking along similar lines.

In both the Te Uru Rangi and Te Pūtea Whakatupu Trust examples, we are seeing some great exemplars of nationwide initiatives targeted at growing the collective skillbase and inter-iwi relationships at a much earlier stage in life. This can only help to build relationships and grow trust as a solid platform for collaboration in the years to come.

Te Tui

KPMG’s quarterly newsletter, aims to highlight these global forces and discuss the impact for Māori businesses, organisations and their people.

 
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© 2017 KPMG, a New Zealand partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (KPMG International), a Swiss entity. All rights reserved.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

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