THE

WAY LEADS TO OUR FUTURE ECONOMY

Oram (2007, 2011) and Boven, Bidios, and Harland (2010) researches indicated clearly strength and weakness of the economic growth of New Zealand in the recent decades. Thus they provide recommendations for businesses and government on how to improve our economy. On one hand, Oram comes up with information that show how entrepreneurs can change to adapt to the current economic position. On the other hand, Boven and his partners agree that our government has to pay attention to economic activities and also cooperate well with entrepreneurs to find out the best way to get the nation developed. When all OECD countries are developing their economy rapidly, New Zealands economy seems to be fallen far behind compared to OECD countries achievements. Therefore Rod Oram, one of New Zealands famous business writers, has done some research to determine the weaknesses of the national economy. Our nation has good fundamentals, which were inherited from Vanguard companies, so we need to use those gains to tackle an even greater challenge (Oram, R., 2007, p.32). For instance, our entrepreneurs are able to associate with the rest of the world to cooperate and develop such as swapping the needed resources for producing goods or producers are able to seek for new materials, which are not available in New Zealand. Thus we must use those benefits to make dramatic changes - the second revolution. In addition, New Zealand is being conducted with complicated system that might be not suitable for the small country (Oram, R. 2008). Overall, we need to realize what are important things to be changed for our economy to fit to the changes of the current economy; and we need to be more ambitious (Oram, R. 2011, p.4) to set higher objectives for economic success in the near future. On the other hand, Boven et al (2010) determined that labor productivity is the main reason for low GDP per capita of New Zealand compared to Australias. Yearly, our government spends a lot of money in economic activities but our GDP can not get better than Australias (Boven et al, 2010). Obviously, we have not maximized our productivity; it might due to some following reasons: we are so complacent with the current profit that is made during a year, or we are happy with this moment and we are not willing to work more. Boven, Bidios, and Harland have recommended that New Zealand should pay more attention on five aspects: entrepreneur, skills and talent, investment, innovation and natural resources in order to improve the productivity. Somehow, our government has to encourage these activities if they want to attain a long-run development. For example, as we know that when people cannot find a best suitable job for them, they will find their own chances in other places, particularly overseas working. Therefore we must be able to retain our residents, who is high-skilled and leave the country to work and live overseas, contributing to New Zealand having the highest proportion in the OECD of high-skilled people living in other OECD countries (Boven et al, 2010, p.20 & 21). Furthermore, we need to consider developing our main sectors such as agriculture, tourism, natural resources, ICT and niche manufacturing, and construction and other domestic sectors (Boven et al 2010, p.37)

THE WAY LEADS TO OUR FUTURE ECONOMY

The two authors opinions are quite different because of the target whom they chose to write for but they are extremely crucial for our entrepreneurs and government who should consider those mentioned recommendations in order to help the New Zealands economy get back to the position that it was from last decades. New Zealand also needs to make alternative approaches to adapt to the rapid economic growth of developed countries that are trying to achieve highest possible outcomes for their economy. Reference list: Oram, R. (2007). New Zealands freedom from distance. In Reinventing paradise: How Zealand is starting to earn a bigger, sustainable living in the world economy (pp. 18-33). Auckland, NZ: Penguin Books. Oram, R. (2011). Reinventing paradise. Unpublished manuscript, Auckland, NZ. Boven, R., Bidios, D., & Harland, C. (2010). A goal is not a strategy: Focusing efforts to improve New Zealands prosperity. Discussion paper. Auckland, NZ: The New Zealand Institute.