Core Values and Guiding Principles

September 21, 2016

The core values and guiding principles for the operation of CSST will be codified in the Deed of Trust of the Charitable Trust that will own CSST. These principles will include:

1.  For the Benefit of Regional Industries: This will supersede the goal of making a profit for the Trust.

2.  In New Zealand’s best interests: All else being equal, CSST shall value New Zealand’s interests over its own.

3.  Non-competitive: Rather than establishing competing activities, CSST shall endeavour to form collaborations in areas of activity where the mission of CSST overlaps with that of other New Zealand organisations.

4.  Enabling: CSST shall operate in a way that enables existing organisations, with well established links to clients, to generate superior products and services in support of those clients. As far as possible, CSST shall not seek to develop these products and services in isolation unless there is a strong business case for doing so and no existing well-placed organisation to do so.

5.  Non-partisan: CSST shall not form exclusive collaborations with any organisation to permit them to gain a competitive advantage over other New Zealand-based organisations.

6.  Regionally impartial: CSST shall not favour any one region unless there are compelling operational reasons to do so. While CSST’s goal is to drive regional economic growth, it shall do this across all regions in New Zealand insofar as is practical within its resources and in regard to the dominant activities in each region.

7.  Operationally and fiscally prudent: CSST shall not seek to replicate existing activities, capabilities, or infrastructure unless this is in New Zealand’s best interests. Where operational services required to support CSST’s activities (e.g. data archiving infrastructure) can be sourced from outside of CSST in a way that provides better value for New Zealand, that option will be exercised rather than seeking to develop that service capability internally.

8.  Financially responsible: Significant (e.g. >$50k) financial decision-making by CSST shall be preceded by internationally accepted due diligence processes which are evidence-based and draw on the experiences of a wide range of parties (national and international as appropriate) working in similar commercial and operational environments.

9.  Commercially viable: CSST shall operate in such a way as to ensure its long-term commercial viability. Any P&S whose development is supported by CSST must have a business case indicating strong evidence of profitability, or support of other products or services that will be profitable, over the expected lifetime of that product or service.

10.  Research-focused: Given its key role as a research institute, CSST shall bring together best teams, including researchers from its own staff, CRIs, universities, private research institutes, international organisations, and its partner industries, to support its activities. CSST will look to universities as a key source of research capability. In contracting external personnel to participate in P&S development teams, CSST will act in such a way that this process is beneficial to all parties involved.

11.  Technical excellence: Due diligence processes shall ensure that all proposed CSST activities are technically feasible.

12.  Inclusiveness: As long as these core values are not compromised in any way, CSST shall not exclude any legitimate organisation seeking to collaborate on the development of a product or service.

13.  Judiciously governed: The governance structure of CSST shall ensure that these core values are maintained at all times. The CSST Board of Directors shall be independent and skills based, ensuring it makes decisions informed by management rather than simply rubber-stamping management recommendations.