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

SEOUL, South Korea (AFP) — Rumours of a treasure trove on a Russian ship that sank off South Korea a century ago have sent a company's shares on a rollercoaster ride, triggering a warning Friday from financial regulators.

As Jamaica prepares to celebrate Emancipation Day on August 1, there are some 7,000 people living in modern-day slavery on the island according to the Global Slavery Index published on Thursday.Although slavery and the four-year apprentiship period officially ended 180 years ago, 2.57 people out of every 1,000 living in Jamaica are estimated to be living as slaves, the report said.

AFRISKI, Lesotho (AFP) —- Nestled high in the mountains of Lesotho, skiers and snowboarders from around the world rub shoulders at Africa's leading ski resort, which is cultivating a loyal clientele despite its diminutive size and remote location.

The US Commerce Department sought feedback on President Donald Trump's plans to consider taxing auto imports. It got an earful at an all-day hearing Thursday.Critics lined up to urge the administration to reject auto tariffs. They argued that the...

QUESTION: Do motor insurers penalise policyholders who are caught lying? My car was rear-ended at the gate of my son's school. The other driver blamed me. She said that I reversed into her car. The police were summoned. They concluded that I was not...

The word 'cakeism' has yet to appear in the Oxford English Dictionary.Used recently by several British publications, it is intended to express the view of some in Britain that the United Kingdom can have everything it wants in relation to leaving...

Cannabis grower Epican has already secured its place as supplier of medical cannabis to a number of local doctors seeking therapeutic treatment for patients, but needed a facility to professionally offer its products and services to the public.

The Financial Secctor Adjustment Company (Finsac) Ltd, which is the majority shareholder of Ciboney Group Ltd, will make another attempt at selling its shares in the inactive company after failing to achieve a change of ownership within the first quarter of its financial year.

TOKYO, Japan (AFP) — Japan on Friday enacted a controversial law to allow casinos that the government says will boost tourism and growth but was bitterly opposed by the opposition.In a last-ditch attempt to delay the vote on the bill in the upper house, opposition lawmakers called a confidence vote on Prime Minister Shinzo Abe's cabinet, despite the premier being guaranteed an easy win by his large parliamentary majority.

In honour of the recently concluded World Cup (Vive la France!), I thought I would share a story to remind you to keep your eyes on the goal as an investor.In 2015 Mr Green had $3 million to invest and wanted to earn better interest than his bank was offering. So instead of lodging the money in his bank account, he bought a Toyota Corolla for $3 million, and entered into a contract with Cantor General Ltd to rent the car from him for seven years at $450,000 per year.

From Harvard Business Review

Martin Konopka/EyeEm/Getty Images The use of virtual file-sharing platforms like Dropbox, Google Docs, and others has become ubiquitous in business, academic, and other settings. But is your team using such collaborative platforms as effectively as they could be? Whether working on cancer cures or the latest consumer-tech products, how teams collaborate affects their...
Oliver Burston/Getty Images While overall adoption of artificial intelligence remains low among businesses (about 20% upon our last study), senior executives know that AI isn’t just hype. Organizations across sectors are looking closely at the technology to see what it can do for their business.
Jan Stromme/Getty Images CEOs are known for their confidence. It is, after all, one of the reasons they’ve made it to the top.
Klaus Vedfelt/Getty Images Human beings have an astonishing ability to learn, but our motivation to do so tends to decrease with age, particularly in adulthood. As children, we are naturally curious and free to explore the world around us. As adults, we are much more interested in preserving what we learned, to the point of resisting any information — and data — that...
Classen Rafael/EyeEm/Getty Images Despite good intentions—and widespread acceptance of the importance of innovation—efforts to innovate at large companies often lack a clear mission and framework, and as a result, they go off the rails. At one large European energy company we consulted with, no less than four separate corporate functions were supposed to be working on...

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.

Blogs

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.