Nov/Dec 2017 Articles

Domestic contractors, contrary to what some might want to believe, are not asking for any special favours or to ban foreign contractors. What we ask is to be given an opportunity to carry out our business in a fair way in our country.

Our study conducted by Mona School of Business and Management, (MSBM) in June 2017, revealed that the leaders of local construction firms perceive that public sector delays, Government procurement policy, cost of financing, and company debt burden are among the main impediments to growth of the sector. Along with policy changes, we suggest several strategies, including adoption of Lean Construction techniques to increase efficiency.

It cannot be that the Jamaican construction industry that designed and built the National Stadium, Conference Centre, New Kingston, and the Bank of Jamaica is being told that in order to redevelop Downtown Kingston and construct the new Parliament building, we have to get foreign expertise to build. It is full time to review the policies that we have pursued over the years.

Social Entrepreneurship addresses the failings of the traditional economy through their operations within the social economy. This is evident in some countries like Jamaica, having low economic performance indicators, yet having a high social progress index showing significant improvement in the provision of services that address basic human needs.

This Administration is committed to the economic growth and development of the country. As we seek to advance the growth agenda it is evident that the construction industry has a major role to play in driving the process.

The historical social, cultural, political, diplomatic and economic context of the Jamaica-China relationship provides a critical point of reference that gives texture to the current public discussion about balancing the relationship between both countries.

Against a background of foreign and domestic pressures on the construction industry, this article explores some of the opportunities for the use of low-cost ICTs to enable and enhance what is broadly referred to as "Lean Construction” practices, and looks at the practical experiences of a real-world case study.

Local Business News

German law enforcement authorities added another chapter to Volkswagen's diesel scandal Tuesday by fining the company's luxury division Audi €800 million (US$925 million) for selling cars rigged to cheat on emissions tests.Prosecutors in Munich...

BRIDGETOWN, Barbados (CMC) – The Barbados government says at least 1, 500 public workers will be laid off over the next few weeks as it seeks to turn around an ailing economy, while acknowledging that sending home one worker “is too many”.Prime Minister Mia Amor Mottley, in a radio and television broadcast to the nation on Sunday night, said that the job cuts will affect workers in central government and government entities.

Local coffee exporters returned from Japan this month without any indication of pricing or deals from the large trading importers, which puts the US$25 million industry at a near standstill at least until Christmas.At the same time, the sector is...

The Commonwealth Caribbean Enterprise Network (CCEN), a UK-based Caribbean Diaspora Business Network, has called on the Government and the local business community to use the current economic success, in addition to world-beating 233 per cent stock rally as highlighted by Bloomberg recently, to stimulate growth in the small business sector.

The British government will have to spend an extra £19 billion (US$25 billion) a year on public services by the year 2022-23 if it's to deliver on Prime Minister Theresa May's promise to end austerity, a well-respected think tank said on Tuesday.In...

Global Ethics Day will be celebrated on 17 October this year. Established by the Carnegie Council in 2014, the day's focus is on ethics and professionalism. It also provides a moment in the year to explore the role of ethics in a globalised world.This year, ACCA teamed up with the Carnegie Council and CFA Institute to promote Global Ethics Day as we all share a commitment to ethical behaviour.

ADDIS ABABA, Ethiopia (AFP) — Ethiopian Prime Minister Abiy Ahmed on Tuesday unveiled a downsized cabinet where, in a first, half the members are women, a top official said.Women occupy key positions in the 20-member cabinet that includes a newly created Ministry of Peace to oversee the federal police and intelligence agencies, Abiy's Chief of Staff Fitsum Arega said.

Facey Group is offering up nearly 92 million of the shares it holds in Seprod Limited for sale to stock market investors, but will retain a 17 per cent stake in the company.Both entities are members of the privately held Musson Jamaica conglomerate....

Facey Group Ltd, a subsidiary of the Musson Group, has invited offers for the purchase of 91,914,894 ordinary shares in the capital of Seprod Ltd.The application, which runs from October 23 to 30, is priced at $23.99 per share. A total of 36,914,894 or 40 per cent of the shares are available to the public, while 55,000,000 has been reserved for the directors of Facey Group and existing Seprod shareholders.

Airport operator Grupo Aeroportuario del Pacifico, GAP, announced plans to invest US$60 million in the first three years of operating the Norman Manley International Airport, NMIA, according to stock market filings.Additionally, the Mexican company...

From Harvard Business Review

Michael Heim/Getty Images “Don’t believe everything you hear” is good advice — especially in an era of fake news and alternative facts. The same goes for managers who often rely on social-sentiment analysis to get a handle on what consumers think of their brands. Social-sentiment analysis is the process of algorithmically analyzing social posts, comments, and behaviors...
Tomohiro Ohsumi /Getty Images Artificial intelligence (AI) is engendering all kinds of breathless headlines, from being able to play Go to spotting rare cancer tumors. But how will AI impact the economy in broad terms?
Peter Dazeley/Getty Images Divya, a director who leads a large engineering team, was invited to a two-day retreat with the CEO and senior executives of her Fortune 50 company. She and 30 of her high-potential peers were excited to rub shoulders with the leadership team. The purpose of the retreat was to expose up-and-coming leaders to broader challenges, expand their...
STOCK4B-RF/Getty Images Medicine involves leadership. Nearly all physicians take on significant leadership responsibilities over the course of their career, but unlike any other occupation where management skills are important, physicians are neither taught how to lead nor are they typically rewarded for good leadership. Even though medical institutions have designated “...
Topic Images Inc./Getty Images Many times, especially in business settings, people use words that they think they know — but don’t. Although they do this in an effort to sound intelligent and sophisticated, it backfires badly, because even one small slip-up can cause an audience to focus on only that, not the speaker’s ideas. Sure, saying the wrong word (usually) isn’t a...

Executive Insights

June 28, 2017

The concept of climate change is again a very topical issue. Jamaica has had two recent bouts with heavy rains that have emphasized previously known areas of hazards, and have identified totally new areas that were previously overlooked or were dormant. The estimates of damages are not yet final, and even due diligence will not capture undocumented losses of agriculture, livestock, or illegal housing. Therefore the potential losses will continue as mere replacement does not necessarily equal enhanced restoration.

April 3, 2017

For our younger readers, Venezuela may only have a distant image comprising oilfields and offshore drilling that many have only seen pictures of. Venezuela’s second image may be the beautiful entrants in Miss World or Miss Universe. In these days of modern air travel there are only three convenient routes; one via Miami; one via Panama; or one via Trinidad.

September 25, 2016

In a previous article in this series I questioned the Business Confidence indices for the first quarter of 2016 that showed a positive jump in confidence. I wondered if this was influenced by the expectation of a General Election, a continuity of the then government, or a change of government. I have no definitive reason only intuition, for deciding between these possible influences, or other random answers. Since then several things have happened that serve to further confuse me.

Letters to the Editor

MSBM Review invites your views on any issue of interest to you. Submissions must include your name and email address and should be kept to 300 words or less. We may use letters in either the Print or Web edition of the Magazine.


September 30, 2016

Of the five priority Action Areas emerging from the deliberations at the successful IODC 2015 in Ottawa, Canada (i.e., The Charter, Standards, Capacity Building, Measurement, Innovation), the latter—Innovation, otherwise described as the “Problem-Solving” Action Track — is perhaps, the most eclectic and least structured of the areas.

September 15, 2015

No matter what source you subscribe to, the numbers are staggering, when one considers the potential economic value of open data. The McKinsey Global Institute estimates approximately US$3 trillion value potential across 7 domains. The Warsar Institute for Economic Studies projects a contribution of €205 billion annually to the European Union. An Omidyar Network study suggests open data impact for the G20 countries could be US$2.6 trillion per annum or 1.1% of GDP. What does this mean for small developing countries like Jamaica?..

March 10, 2014

The expression "Innovation at the periphery", has become more popular in the last few years and perhaps even over-used in several contexts. It describes technological innovations in seemingly remote geographical regions. It promotes the "skunkworks" innovation that takes place within an enterprise, but outside of mainstream R&D centres. It highlights indigenous frugal innovations that emerge out of developing country contexts, whose global adoption reverse the accepted convention of North-South technology transfer.