Whakatipu rawa ma ngā uri whakatipu: optimising the “Māori” in Māori economic development

One of the great challenges for indigenous and non-indigenous entrepreneurs in the twenty-first century is to move beyond profit maximisation as an acceptable modality for doing business and gravitate towards the concept of socially optimal outcomes, where maximising community well-being and minimising externalities to the natural environment and social justice are paramount. We present findings from a case-study analysis of Māori enterprises that demonstrate a wealth of successfully kaupapa Māori (Māori ideology)-attuned strategy and policy. The case studies provide practical examples of the incorporation and expression of kaupapa Māori values into strategy and policy of Māori enterprises. We also identify the numerous challenges to implementing kaupapa Māori in the management of Māori Asset Holding Institutions and offer a way forward. Although the case studies are context specific, they provide some key principles and learning that can guide the greater uptake of kaupapa Māori entrepreneurship.