“Jamaica Trade Desk News” Theme: Keeping abreast with business model evolution!

Contact us at (868) 675-8862 Ext. 239 Email: tradeassist@ttma.com

I S S U E 1 1 – F E B R U A R Y 2 0 1 4 M O N T H L Y P U B L I C A T I O N

H I G H L I G H T T H E

I M P O R T A N C E T O

E V O L V E B E Y O N D

O U R C A P A C I T Y :

Implementing strate-

gic initiatives: a

framework of best

practices...

I N S I D E T H I S

I S S U E :

Competing technologies

and industry evolution:

How technology is

changing the face of

manufacturing?

2

Creating business

opportunities

through knowledge

development...

3

Unlocking the potential

of creative industries:

Play ah mass:

The business side...!!

4

TIC sees the rush of

registrations. 5

Expression of interest:

OAS online course.

Contact JA-T&T

Trade Facilitation Desk NOW!!!

8

Implementing strategic initiatives: a framework of best practices!

How do managers

implement effec-

tive strategic ini-

tiatives in an or-

ganisational ex-

cellence environ-

ment?

From a strategic

and operations

management point

of view, adopting

and implementing

the right practices

in a business is

fundamental to achieving “world-class” performance.

Thus, from inception, companies should be committed

to strive for “organisational excellence”. What does

this mean? Simply that those enterprises must use a

recognised business excellence model with which they

will assess carefully and improve their own perform-

ance.

Many businesses were created first and foremost with

the understanding that the secret to success was

mainly in providing great customer service. However,

time taught us that success cannot simply have been

defined as customer services and therefore requires a

news definition in the 21st century. This is what we

will call: Best Practices.

Managers need to broaden their area of focus and look

elsewhere and everywhere - be inside their businesses

- visiting their direct competition - be outside of their

industry, to truly understand and implement a sustain-

able "Best Practices" strategy.

There are several reasons why certain companies have

become what we describe as "Category Killers" in

their market segment. And, it is obvious that it is more

than a broad smile and good product that have allowed

brands such as Nestle, Coca-Cola, Unilever, Nike,

McDonald, Yves Saint-Laurent, Mercedes Benz, UPS,

Sony, and regionally, Angostura, Blue Waters, D&G/

Red Stripe, Wisynco Group, Digicel, and others to

dominate their market segment.

In fact, there is such a huge difference between Cus-

tomer Satisfaction and Customer Service, and it is a

tremendous mistake for any business to fail to make

the correct distinction.

For the truly successful enterprises in the '90s, each

transaction must build on creating the aura of great

satisfaction, or the customer will not return. Simple

attention such as remembering their clients by

name, greeting them at the door as if they were the

most important person that had ever arrived at the

location, and ensure that they were served in the

tradition of their business are invaluable. But these

companies also need to be careful! While customer

service can be spectacular, if their fail to anticipate

the changing needs of the clients in selection and

value, they will be gone! Never forget to realize

that businesses are competing against each other for

the same client.

For all the reasons above, it is indeed necessary to

recognize that while customer satisfaction is the

key, customer service is still a very important fac-

tor. Great businesses service their customers by

moving their staff onto the floor, instead of build-

ing a staff that serves the main office. They recog-

nize that it is the staff taking care of the customer

that drives the business and makes the money, and

not the back office staff and management. Best

practices require that entrepreneurs go beyond the

basic way of doing business, by breaking the co-

coon and learn to look around cautiously. They

need to see who in their industry is doing "it" well -

whatever "it" is - and steal "it" quickly. There is no

better way to improve than to look at the competi-

tion, learn from their mistakes and avoid them.

Most businesses today receive extensive informa-

tion from their management systems and stake-

holders; however, it is essential that this informa-

tion be analyzed on a regular basis to prevent any

problem that may surface. Again, reviewing the

trend analysis of any enterprise on a regular time

basis can react favorably to its results. Albert Ein-

stein once said that: “the definition of insanity is

doing the same thing over and over again and ex-

pecting different results”. So let‟s not be insane,

and monitor our industry, understand its market

trends and do something - anything - but never

stand still. Success is about anticipating the mar-

ket and changing so that businesses have what

their customers want, and most importantly

when they want it.

Article written by Mrs. Naika Pichi-Ayers– TTMA

Jamaica Trade Facilitator Officer.

P A G E 2

How technology is changing the face of manufacturing…

Technology has changed and continues to change the

manufacturing sector. Some refer to this change as the new

industrial revolution. Change is underway in the manufac-

turing world and digital technology is the driving force

behind it. Most notably, technology has changed the manu-

facturing sectors‟ reliance on the human labour force,

manufacturing companies‟ ability to be competitive and

the manufacturing industry‟s innovation processes.

The advent of machinery and technology has decreased the

need for and cost of human labour. On the other hand,

manufacturers are claiming that they are unable to find

workers who have the necessary technological skills for

modern manufacturing. Therefore, while technology has

impacted the manufacturing industry significantly there is

still a void which exists in the labour market.

Investment in technologically advanced machinery and

equipment has affected the cost of labour for modern day

manufacturers. Highly adaptive, low-cost machinery now

allows for manufacturing operations to be less sensitive to

the cost of human labour. Thus, technology allows for the

manufacturer to retain a low-cost labour-intensive work

force without depending on the human labour force. Even

as advanced economies develop more automation capabili-

ties, the practice of importing labour for the purposes of

accessing cheap labour is becoming less and less viable.

The negative impact technology has had on manufacturing

relates to the issue of skilled labour. . The most obvious

impact of industrial mechanization is that it eliminates

many unskilled job positions. However, manufacturers

have expressed the difficulty faced with sourcing workers

who have the necessary technological skills for modern

manufacturing. Industrial robots are mere automatons

which humans program to perform simple tasks. Those

said tasks require decision-making, creativity and adapta-

tion for which human perception is necessary. The outputs

of machines are in no way comparable to that of the hu-

man labour force. However, machines are not without

limitations. But when a task is done right by robotics, pro-

ductivity tends to increase dramatically.

The global competitive landscape of manufacturing has

been transformed by the impact of technology. In-

creased productivity and high outputs at a rapid speed

illustrate the positive way in which technology has af-

fected the manufacturing sector. Consequently, bigger

manufacturers are earmarked as competitive because of

their ability to speedily produce high quality goods. On

the contrary, some Small and Micro Enterprises

(SME‟s) are unable to afford expensive technologically

advanced production lines which deters their productiv-

ity and so those cottage type manufacturers are some-

times unable to afford the required technology and to

be labelled as competitive.

In order to attain a competitive edge in the market-

place, manufacturing companies must produce high-

quality products at a low cost. To achieve this, many

companies have noticed that technology plays a vital

role. As such, many manufacturers make long term

mechanization investments especially those who are

able to afford the required technology which allows

manufacturers to produce high-quality, low-cost goods

at a competitive rate.

Per contra, the chance to produce at a competitive rate

may not always be given to all manufacturers. High

technology costs such as the implementation of an ex-

pensive production line is sometimes beyond the reach

of an average SME. Thus, not only will such manufac-

turing companies depend heavily on the human labour

force but the speed of outputs may be slower conse-

quently affecting the manufacturer‟s ability to perform

in a competitive environment.

Technology is transforming innovation at its core.

Companies are testing new ideas at speeds and prices

which were once unimaginable. Technology is offering

manufacturers the ability to innovate more efficiently

and inexpensively. Innovative manufacturing compa-

nies are shifting away from traditional research-and-

development methods.

Manufacturers are now able to explore and test new

ideas, because the price of failure is so much lower.

This brings changes for corporate culture, forcing man-

agers to give more employees a say in the innovation

process. With testing so cheap, easy and accessible,

there's less need to ration it as they have in the past. As

more people get involved in experimentation, manufac-

turers will also need to change their focus in education

and training efforts for innovation.

Contribution from Mrs. Sarika Redoy– Bedeau,

TTMA Executive Assis-

tant to the CEO. Mrs.

Redoy– Bedeau can be

reached at (868) 675-8862

Ext. 232 or via email at:

info@ttma.com

P A G E 3

Creating business opportunities through knowledge development!

The time has come for Jamaica and Trinidad & Tobago to

sophisticate the arrangements for the movement of physi-

cal resources and creatively intertwine this with powerful

ICT infrastructure in our countries for the robust move-

ment of information.

It is perhaps the latter part of this two-tiered imperative

that bears the most relevance to the Jamaica and T&T of

the future, whose economic fortunes could hinge on their

capacity to develop and export knowledge! The empirics

will quite possibly support the assertion here that informa-

tion is transported around the world much faster than

physical resources can ever move in this age. If this is true,

intuition would suggest that there is potential for vast reve-

nue streams to flow into our islands from becoming net

exporters of knowledge to the globe.

This knowledge is yet to be fully defined, and deliberately

so, since knowledge management in the 21st century is

akin to shooting at a moving target. At the bare minimum,

however, we can examine some of the intangible strengths

that are latent within the soul of Jamaica and T&T. Our

chain of islands offers a rich tapestry of original music,

world renowned sportsmen, Carnival shows, laureates in

the arts (particularly literature), and fashion designers. The

argument can be made that the world is filled with all of

those just described; while this may be true, much can be

said about our region‟s capacity to produce such quality

against the odds of debilitating colonialism and mono-

resource economic structures.

What must be unearthed, and packaged, is the technology

that has driven such world class recognition in the past and

present, as well as the vision of what we can become and

offer to the world with the right mix of import and inter-

nal/external support.

It then becomes necessary to re-orient the tertiary educa-

tion sectors in our island states, imbuing them with a man-

date to create new knowledge that is then transported

across the globe rapidly through the use of modern

technology.

As an illustration, the world of athletics is now capti-

vated by the phenomenon that is Usain Bolt. Many

years earlier, a similar fascination was found in the

spectacle that was Brian Lara, a cricketing genius. Sons

of Jamaica and T&T respectively, these sporting icons

have created ripples across the globe that have mani-

fested in countless ways. Putting this into context, a

possible endeavour would be to find ways to support

the emergence of many more athletes of the highest

caliber, and convert this into athletic development tech-

nology through our tertiary education machinery. One

way in which this can be rapidly exported is through

new online schools, effectively making us gateways or

portals for sport science (the same applies for all the

other areas mentioned). In the physical realm this can

lead to establishment of tertiary level Schools of Litera-

ture and Journalism, Sport, Music, Fashion and many

others of international repute.

Assuming that we are successful in capturing the atten-

tion of the world with our intellectual products, it

stands to reason that more foreigners may wish to visit

the islands, primarily to attend our schools and secon-

darily, to learn more about our societies.

This brings us to the other side of the equation, which

is sophisticating the arrangements for the movement of

physical resources (in this case, the movement of peo-

ple); that is, bringing our air and sea ports, along with

our transportation systems as close to parity with the

rest of the world. We must capitalize on any influx of

non nationals entering our countries by making it as

painless as possible to commute to and between our

islands. Transportation should be affordable and reli-

able, and entry into each country ought to be hassle

free. Our present arrangements leave much to be de-

sired, and we must take a deeper look at how our re-

gion as a whole can tackle the transport constraints that

continue to beset us.

It then becomes distinctly possible that manufacturing

and tourism would benefit with the increase in consum-

ers transiting our countries. What we would have effec-

tively accomplished is the uncovering of a different

way to reaching the consumer and stimulating interest

in all that our economies have to offer.

As we uncover new „products‟ for use by the world at

large, they will provide new opportunities for the revo-

lution of our business paradigms and economic devel-

opment.

An article written by Mr. Marc Sandy TTMA Re-

search Economist, Business Development Unit. Mr.

Sandy can be reached at (868) 675-8862 ext. 241 or via

email : research@ttma.com.

P A G E 4

Carnival is arguably the most anticipated event on 2014

T&T‟s calendar. This magnificent showcase of our local

creativity, warmth and bliss has become Trinidad‟s most

important cultural export. The report “The Economics of

Bacchanal: The Economic Impact of Trinidad and Tobago

Carnival”, produced by Economist Dr. Keith Nurse, re-

vealed Carnival visitor arrivals had grown by 60 per cent

since the late 1990s and in 2007, there were over 40,000

visitors who spent approximately US$28 million, over 10

per cent of the annual visitor expenditures. Most recent

data from the Central Statistics office (CSO), coupled with

University of West Indies (UWI) research show that three

weeks of revenue from Trinidad and Tobago‟s carnival

exceeds US$100 million. Carnival therefore has grown

over the years into a viable and economic industry.

In spite of this, the more than 450 Micro, Small and Me-

dium Entrepreneurs (MSMEs) involved in the masquerade

industry, have traditionally not gained financially from the

Greatest Show on Earth. Despite some successes, these

MSME‟s have not been able to fully hone their craft and

gain the requisite skills to advance their businesses in

becoming and remaining competitive on the global

stage. A study conducted in 2011 showed many are still

functioning in a traditional way – usually as seasonal,

family-operated entities - and do not appreciate the po-

tential benefits of using ICT and collaborative measures.

Moreover, business management skills were one of the

biggest downfalls among the MSMEs.

As part of its sector development initiatives, the Trini-

dad and Tobago Coalition of Services Industries

(TTCSI) responded to the call from the Inter American

Development Bank for the project “ICT Innovation for

the Development of the Masquerade Industry in Trini-

dad and Tobago” (I3M). The TTCSI, together with key

partners from several key local state and NGOs such as

the National Carnival Development Foundation, The

Ministry of Trade, Industry and Investment, Blink

Broadband Data Service, National Entrepreneurial De-

velopment Company and ExporTT, have been strength-

ening and promoting economic growth in the sector

through business management and export training, pro-

vision of the needed ICT hardware, software and inter-

net connectivity and most importantly the development

of the Trinidad and Tobago Carnival Hub, soon to be

launched as the “The Carnival Gateway.”

This Trinidad and Tobago Carnival HUB will act as a

tool to provide substantial support and services to im-

prove MSMEs productivity and efficiency levels

through specific online functionalities addressed to re-

duce raw materials costs, market their products and ser-

vices individually, nationally, regionally and internation-

ally as well as support vertical and horizontal integra-

tion within the sector while innovating their business

practices. It is envisioned to be the one stop shop for

Carnival and at the same time seek to preserve Trinidad

and Tobago‟s cultural heritage and promote MSMEs in

the masquerade industry.

________________________ ¹The Economics Of Bacchanal: The Economic Impact Of Trinidad And

Tobago Carnival; Dr. Keith Nurse (Sunday Guardian, March 2007).

An article written by Ms. Patti Mohan, TTCSI Project

Assistant. Ms. Mohan can be reached at (868) 622- 9229

or via email : pmohan@ttcsi.org

Play ah mass… The business side!!

P A G E 5

Trade & Investment Convention 2014 sees rush of registrations…!

The Trade and Investment Convention is the flagship busi-

ness to business event among regional Manufacturers. This

year marks the 15th anniversary of the Trinidad and To-

bago Manufacturers‟ Association annual convention which

will be held from July 2 - 5, 2014 at the Centre of Excel-

lence, Macoya, Trinidad and Tobago.

The convention will be sponsored this year by the Ministry

of Trade Industry and Investment, Telecommunications

Services of Trinidad and Tobago and First Citizens.

Located in the midst of the booming Trincity Industrial

Estate, the Centre of Excellence will open its doors to dis-

play over 210 booths and 10 Pavilions.

Exhibitors from the United Kingdom, Brazil, Canada, Do-

minican Republic, Barbados, St Lucia and the United

States have already registered and are looking forward to

promoting their products and services to local, regional

and international buyers.

International Buyers have also expressed their interest and

have begun registering. These early registrants have been

benefitting from discounted rates, early Business to Busi-

ness matching and are also accessing advertising opportu-

nities.

There has been great interest expressed in sourcing re-

gional distributors and retailers who are interested in pri-

vate labeling and exclusive distribution rights.

The TIC will also have a different look to better meet

the needs of participants this year, as the floor plan has

been redesigned to locate companies in sectors. Take a

look at the floor plan, identify which sector your busi-

ness will be located then contact the TIC secretariat.

If you are really interested in coming as a buyer, this is

the best time to register, for further information send

the TIC secretariat an email at ticbuyers@ttma.com or

telephone (868) 675 8862 Ext 247.

P A G E 6

Is anyone interested in exporting its products/services to T&T?

The Jamaica– T&T Trade Facilitation Desk can assist you with the following:

Inform Jamaican businesses (among others) about import regulations & entry requirements into the Trinidad and

Tobago‟s market, as well as representing their interests;

Assist Jamaican companies with regulatory agencies‟ relations in complying with TT regulatory standards, and

offer strategic input and technical guidance on requirements;

Assess Jamaican firms‟ potential in the local market, provides market intelligence and value added advice on the

opportunities and challenges of doing business in TT;

Advice on upcoming events such as trade fairs, conferences, workshops, seminars and trade missions;

Encourage networking and facilitating business match-making with T&T companies to boost investment and

trade;

Undertake consultations with prospective exporters, business support organizations and representatives of the

public sector institutions that play key roles in the export process in TT and Jamaica;

Address main areas of concern and key issues to the relevant trade institutions & regulatory agencies in T&T and

Jamaica (intermediating with such arms as customs, the standards authorities, and helping with negotiating the

bureaucracy) and offering support solutions;

Assist in the coordination of visits and trade missions to T&T (planning, ground support and follow up).

Proactively build networks and alliance between parties to facilitate trade relations and foster partnerships be-

tween Jamaican institutions and local counterparts.

New market opportunities for MSMEs using internet and social media!

The OAS Department of Economic and Social Devel-

opment of the OAS Executive Secretariat for Integral

Development is launching the second edition of the

online course “New Market Opportunities for Micro,

Small and Medium Enterprises (MSMEs) Using

Internet and Social Media,” to be held from April

10th to June 5th, 2014 through the OAS Educational

Portal of the Americas. Registration deadline is March

28th, 2014.

The course was adapted by the Cave Hill School of

Business (CHSB) of the University of the West Indies

and the objective is to train participants, mainly from

the Caribbean region, and raise awareness about how

Information and Communication Technology (ICT),

such as the Internet and Social Media, can be used by

MSMEs to enhance their business potential and facili-

tate entry into markets.

Target Group:

Directors and representatives of public and private

support institutions of micro, small and medium

enterprises (MSMEs) in the hemisphere.

Entrepreneurs and their employees who are interested

in exploring the potential of the Internet and Social

Media for their businesses. Study Venue: The course will be delivered entirely online

(Internet) through the Educational Portal of the Americas

Virtual Classroom and requires a minimum weekly com-

mitment of 10 hours as well as basic computer skills such

as handling e-mail, word processing and internet skills.

The Virtual Classroom has a user manual and a help tool.

Throughout the course an expert tutor will support and

guide participants and will facilitate all levels of learning.

Language: English

Start and End Dates: From April 10 to June 5, 2014

Duration: Eight (8) weeks

If you require any further information on this course, or if

you wish to register, please contact Ms. Marisa Garcia via

email at MGarciaL@oas.org

If you have additional questions or if we can be of any assistance, please feel free to contact:

Mrs. Naika Pichi-Ayers, Jamaica-T&T Trade Desk Officer and Editor of the Newsletter at: