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

REGIONAL financial entity JMMB Group will launch its consumer finance line of business in Trinidad and Tobago later this year as well as increase its number of automated teller machine (ATM) services in Jamaica as part of plans to drive growth.

Cost controls and strong sales contributed to LASCO Manufacturing Limited (LASM) growth in net profit by 77 per cent for the first quarter of the year.LASM now hopes to double net profit over the next two quarters from the completion of its 65,000-square foot warehousing facility and the launch of new flavours from its flagship product LASCO Vanilla Food Drink in September.

Ankara, Turkey (AFP) — Qatar on Wednesday promised to make a US$15-billion direct investment in Turkey, badly hit by a currency crisis amid a widening diplomatic stand-off with the United States, officials said. “Qatar has pledged US$15 billion of direct investments in Turkey,” presidential spokesman Ibrahim Kalin wrote on Twitter.

HONG KONG (AFP) — China's Tencent reported a quarterly drop in net income Wednesday amid an apparent regulatory squeeze on the tech giant's online gaming business.Total revenues for the quarter rose by 30 per cent year-on-year to 73.68 billion yuan (US$10.65 billion), while online games revenue increased six per cent to 25.20 billion yuan, according to a filing with the Hong Kong Stock Exchange.

Medical cannabis has increasingly captivated legal, political and corporate interest on a global scale, as more than 20 countries have moved towards legalisation of cannabis for medicinal use, and even some towards recreational use.

In the wake of “Wakanda Forever” fever and a swell of black pride driven by King T'Challa and the rest of Marvel Studio's Black Panther mega hit, Palace Amusement saw its stock price surge by 154 per cent.According to investment guru John Jackson, “ Black Panther mash up Palace bottom line with a huge increase in profit that pushed to stock to number one for 2018 in the main market.”

NAIROBI, Kenya (AFP) — Burundi's president, Pierre Nkurunziza, has issued a decree banning the use of plastic bags in the small central African country within the next 18 months.“The manufacture, import, storage, sale and use of all plastic bags and other plastic packaging is prohibited,” said the presidential order signed by Nkurunziza on Monday and seen by AFP yesterday.

Sangster flying high on increased airlifts MBJ Airports Limited is attributing increased airlift at Sangster International Airport for its revenue gains in the first half of this year."Traffic performance for the first half of 2018 shows notable...

SHANGHAI, China (AFP) — China's Huawei on Friday said it could replace Samsung as the world's top smartphone maker by late next year, just days after data showed it surpassed Apple for the number-two spot despite being essentially barred from the key US market.

BUENOS AIRES, Argentina (AFP) – Records kept in notebooks of the kind used by schoolchildren are bringing down titans of Argentina's industry in a multimillion-dollar corruption scandal.Dirty dealings are nothing new in Argentina.What sets this case apart is the large number of people going down – around 20 so far, with additional names surfacing regularly – and their high-flying status in the business world.

From Harvard Business Review

Daniel Hurst Photography/Getty Images As the concept of emotional intelligence has gone global, we’ve watched professionals founder as they try to improve their emotional intelligence (or EI) because they either don’t know where to focus their efforts or they haven’t understood how to improve these skills on a practical level. In our work consulting with companies and...
Caspar Benson/Getty Images Most leaders assume that they need to foster teamwork among the people whom directly and indirectly report to them. Teaming is now seen as the workplace equivalent of motherhood and apple pie — invariably good. The problem is when leaders try to drive the wrong kind of collaboration on their particular teams. The result: wasted time and...
Carlo Allegri/Getty Images Working from home can be a coveted perk, allowing you to opt out of rush-hour traffic and eliminate the tedious banalities of office life. But it can also cut you off from the spontaneous interactions that can spark new insights (part of the reason Marissa Mayer famously rescinded Yahoo’s telecommuting policies). And, at times, the solitude may...
Eric Raptosh/Getty Images Common wisdom in management science and practice has it that to build support for a change project, visionary leadership is needed to outline what is wrong with the current situation. By explaining how the envisioned change will result in a better and more appealing future, leaders can overcome resistance to change. But our research, recently...
burakpekakcan/Getty Images Modern data science emerged in tech, from optimizing Google search rankings and LinkedIn recommendations to influencing the headlines Buzzfeed editors run. But it’s poised to transform all sectors, from retail, telecommunications, and agriculture to health, trucking, and the penal system. Yet the terms “data science” and “data scientist” aren’t...

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.