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

The fire that gutted a section of Wisynco Group's complex two years ago cost the company close to $120 million in business disruptions, but it also pocketed nearly $600 million as net insurance proceeds.The insurance inflows...

An estimated growth of 1.8 per cent for the April to June 2018 quarter has been described by director general of the Planning Institute of Jamaica (PIOJ), Wayne Henry, as “nothing of scoff at” given the country's current economic climate.

NASSAU, Bahamas (CMC) — The Bahamas g overnment has welcomed the rating given to the country by the United States-based rating agency, Moody's Investors Services, saying it reflects stabilisation in t he Bahamas' credit profile following four years of successive downgrades.

Blue Power Group Limited will be increasing the prices for its soaps due to the effects of currency movements on its cost of business, but that's after making millions in currency gains from its...

BMR Energy Ltd, parent company to BMR Jamaica Ltd, announced recently that it has purchased the four-megawatt, fixed ground-mount solar facility from NRG Energy, Inc in St Croix, US Virgin Islands, which was damaged during Hurricane Maria in September 2017.

Whether it's spiced in the Spanish style or sliced as Japanese sashimi, octopus as a dish is becoming a victim of its own popularity.Prices for the tentacled mollusc have about doubled in the past two years...

HAVANA, Cuba (AFP) — Cuba called on its citizens Monday to join a series of public debates on a new constitution that will recognise the role of market forces and private enterprise in the communist island's economy.

While the general trajectory of the stock market is up, the fact is that stocks move in both directions and trading in July demonstrated that clearly.

The majority of foreign exchange transactions done on a daily does not include cash and the Bank of Jamaica, BOJ, has been making a point of informing the public about it.Senior Deputy Governor John...

Karl Gordon's introduction to business was at Coronation Market in downtown Kingston, where he once transported goods for vendors and shoppers for a fee.Now the...

From Harvard Business Review

Steven Puetzer/Getty Images At some point in our careers, we find ourselves in need of help from others — whether it’s to make a direct connection to a hiring manager, to gather information on a prospective client company, or to get help in learning about a new industry quickly. However, over the years, we often lose touch with people in our network as work, family, and...
VANDAL Photography/Getty Images Tara, an MD/PhD who works for a large public university, contacted one of us (Suzanne) a few weeks after participating in a negotiation workshop she ran, wanting to share some positive news about successfully negotiating an 11% pay increase. A faculty member for six years, she had come to learn that she was not only underpaid but also had a...
›CSA Images/Getty Images U.S. Senator Elizabeth Warren has proposed a novel way to reform corporate governance. It would require companies with more than $1 billion in revenue to get a corporate charter from the federal government (rather than from an individual state), which in turn would require a commitment to a broad range of stakeholders, including not just...
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...

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.