Issue # 4 - February/March 2015
BUSINESS MAGAZINE
ADVANCEMENT AND ALUMNI RELATIONS CENTRE
Going
Global Marina Deo
. Witty . Risk Taker . Mindful The Gro-Bal Perspective Exporting Services from T&T 3 Pillars of Sourcing in China Global HR: a bunch of Globaloney? PLUS CONTRIBUTIONS BY:
Paula Singh - Adjunct Lecturer (COSTAATT), Head of Compliance Department (Massy Stores) and DBA Candidate (UWI-ALJGSB)
Dennis Ramdeen - Founder (Pepper Advertising and Experiential Marketing) Donny Rogers - Managing Director (DAAN Properties and Caribbean Bird Barrier Systems)
Director of Advancement and Alumni Relations
Ms. Fayola Nicholas
Welcome Message
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MARINA DEO:
Funny . Risk-Taker . Mindful
Business Groups
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Their Role and Impact on Economies By Paula Singh
The Gro-Bal Perspective By Donny Rogers
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Caribbean Economic Integration
Developing business muscle for globalisation By Latoya Richards
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9. Clean your windows before you open them 10. National Competitiveness, Youth, Entrepreneurship and Culture 12. ICT in Mergers & Acquisitions 13. Building a strong Corporate Reputation via CSR 14.Correcting Sino Caribbean Misconceptions 16. Sourcing in CHINA‌ Finding the Right Supplier 17. Plan for Success
content:
19. Service Exporting 20. Will The Evolution of Cloud Technologies Negate IT Departments? 23. Expanding your Business Globally 24. Engaged employees? Not without better communication 26. Finding Support for your Cause 28. Globalizing HR: Challenging Conventional HR and Presenting a Winning Roadmap for Today’s Practitioner 29. Leading from Behind 30. To Click or Not to Click How E-mail Culture can affect your Business 32. The Importance of a Foreign Language in Business 33. Photo Collage: Alumni Relations Centre Events 34. Photo Collage: Alumni Relations Centre Events 35. Photo Collage: School Events
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Message from the Director of Advancement and Alumni Relations Happy New Year from the UWI-ALJGSB Family! We hope that the new year allows you to progress closer to your dreams and goals for your family and career. We welcome the most recent graduates from the January UWI-ALJGSB Graduation to the alumni community. Congratulations on your most recent academic accomplishment and we look forward to meeting you at our alumni networking events in 2015. While we celebrate the new alumni, this time of year should also be a reminder to all alumni that growth and development is a continuous process, and we invite you to learn more about the new Post- MBA, which starts in February 2015. This issue of the ialum business magazine is focused on Going Global. This is an area of great interest for the Business School and many organisations in Trinidad and Tobago as we prepare for a changing economic climate locally during the next year. Local and regional markets will no longer sustain us and this may force many local companies to internationalise as a survival strategy. How will you fare in the next year? We have collated a beautiful selection of articles from our Faculty, Alumni and other Business Partners that we hope will assist you in your path to global growth. We also introduce you to one of our Master of Human Resource Management Alumni who is flying the flag of Lok Jack GSB internationally. Advancement and Alumni Relations will also embrace the global focus, and we commence activities this year to include our alumni from our Guyana and Guatemala markets. I look forward to meeting each of you throughout the year at our events and business mixers. Finally, an immense thank you to everyone who made 2014 an outstanding year for AARC. Thank you to our magazine advertisers, the sponsors for all our events and the companies that support our Career Fairs. Thank you to the alumni who give back to the School as Feature Speakers, Mentors or financial contributors towards our programmes. We look forward to great and exciting things in 2015!
Regards, Fayola Nicholas Director of Advancement and Alumni Relations Arthur Lok Jack Graduate School of Business
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What three - five words would you say describe you completely? - Witty - Risk Taker - Mindful (Living in the moment or at least trying my best to do so)
What makes you different / outstanding? I live in the context of my own life and challenge my personal limits and shortcomings. I see personal failure as a necessity sometimes so I can truly determine the things that are important to me. While the measure of outstanding can mean different things to different people, I do not benchmark against traditional standards such as wealth or prestige but rather the simple ones such as achieving happiness, living in the moment and being kind to people around me.
What is the first thing you do every morning when you wake up?
MARINA DEO: Social Entrepreneur
Witty . Risk-Taker
. Mindful
Marina Deo has over 13 years’ experience in Total Rewards, Broad Based and Incentive Compensation Management. Her experience spans various industries including Aerospace and Defense, High Tech, Financial Services and Pharmaceuticals. Marina obtained a Bachelor’s Degree in Management from the University of the West Indies, and a Masters in Human Resource Management from the University of the West Indies – Institute of Business (currently UWI-ALJGSB). She has several professional designations including Certified Compensation Professional (CCP), Global Resource Professional (GRP), and Senior Professional of Human Resources (SPHR). She has held Management roles at Fortune 500 organizations and Multi-Nationals such as American Express, and Ricoh Corporation with strategic Global responsibilities in the Americas, Europe and Asia Pacific.
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I smiled at this question since I am quite a rebel against routine and daily rituals. For the most part I have an overall structure around my day but other than a good cup of coffee or tea, I take each day as it comes. Sometimes it’s quiet meditation, or getting flying start out of bed, or just lying around a few extra minutes. This is comfortable for me because it allows me to be very agile and responsive to anything that comes my way since I don’t have any undue attachment to useless rituals and no anxiety when something out of the ordinary pops up.
What is a typical day like?
Marina is currently the Total Rewards and Performance Management Leader for the Missions Systems and Training (MST) line of business at the Lockheed Martin Corporation, one of the world’s largest and most admired Aerospace and Defense companies. In this role, she leads a function supporting a Global population of over 17,000 employees and a business segment of $8B in annual revenue. The MST business provides Integrated Warfare Systems & Sensors with a focus on Under Sea, Ship and Aviation Systems as well as advanced Training and Logistics Solutions for Aviation and Combat. Marina brings a commercial and innovative total rewards perspective to a traditionally Government focused organization which is critical as the organization branches out into the commercial space and compete for the best and brightest Next Generation Engineering talent. Marina is based professionally in Washington DC and currently lives with her family in Northern Virginia. She loves all the outdoor fun and history that Northern Virginia has to offer but Trinidad &
BUSY! It starts with responsibilities at home getting kids off to school if I’m not travelling on business. Then, much of my professional day is spent on conference calls and meetings. There is an operational component of my job that involves interacting with others such as HR Business Partners, Legal, Finance and Corporate to get the day to day tasks taken care off. Another chunk of my day is spent on Strategy for both my business area as well Organizational TR&PM Strategy since I also have matrixed responsibility into our corporate organization as well as direct responsibility into the business. Additionally, I have a geographically dispersed staff and we connect often during the day in order to maintain strong relationships in a virtual setting and collaborate on projects. Once my work responsibilities are over, I switch back to mommy mode and the kids and I debrief
Tobago will always be “home”.
on our day before they head to bed.
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What is a typical weekend like?
If you had to compare your life to a movie, which would it be? And Why?
I try to maximize my relaxation and family time by utilizing technology as much as I can during the week. I do as much shopping as I can online to avoid having to spend time at malls or the markets; thankfully e-commerce is efficient and widely available in the US. That leaves weekends for visits with family and friends to parks, outdoor concerts, wineries and restaurants around my neighborhood. I am up for anything outdoors and thoroughly enjoy the warmer months of the year where I can be out all day!
There are a few movies I wish were about me, but so far I don’t think I’ve seen any that truly reflect my life. I think that’s awesome since it means that I have a unique story that only belongs to me.
What is your favourite quote? And Why? My favorite quote is from the Dalai Lama: “Do not let the actions of others destroy your inner peace”. It is a constant reminder that I am the only one who defines the way I feel inside and out and if I live with compassion and not let negativity seep in, I will experience a peaceful existence.
Who is your hero/heroine? And Why? Not to sound cliché but my mom is undoubtedly my heroine. She is the most kind, compassionate, hardworking and unselfish person I know, and I give her credit for the person I am and what I have achieved. I believe that the compassion I learnt from my mom helps me with my everyday interaction and makes me a better leader in the workplace and a better person overall.
What type of movies do you like? And Why? I love biographical movies and documentaries. I am fascinated by the human spirit and when it is captured well in a nicely made movie or documentary, it is something that often resonates with me for a long time. I am intrigued by the resilience, strength in person and ideology, and struggle of fellow humans whether good or bad, it is quite fascinating to me.
What is your favourite type of music? And Why? My musical taste is pretty eclectic and depends on my mood but I do love my Caribbean music. Soca and Reggae just reminds me of everything that is wonderful about life and growing up in the Caribbean. The beat and energy is so amazing, there is nothing a good Soca fix can’t cure.
What is your pet peeve? My pet peeve is about people who perpetuate drama. It is just bad energy and I try as best as possible to keep my distance from bad energy and the people who give it off.
When you were a child/teenager - how did you imagine spending your life? I had a lot of dreams as a child because I read extensively and had a very wild and vivid imagination. Some days I thought I would grow up and spend my life writing books in some remote beach or cabin in the woods. Other days I thought I would be doing humanitarian work in some corner of the world or saving sea creatures. Everything felt like a possibility. The one thing I have learnt though is life has really thrown me some unexpected surprises though I am all grown up and I’ll never feel like it’s too late to pursue my dreams.
What is your greatest work related challenge? I have had many work related challenges but I think the biggest one I face on a daily basis is how to constantly think outside the box in terms of Total Rewards. We live in a world where the best and brightest isn’t motivated by a traditional rewards system. There is a huge challenge in attracting and retaining the next generation of critical talent within the confines of traditional brick and mortar organizations such as American Express and Lockheed Martin Corporation when competing with the non-traditional organizations such as Google, Apple, and Amazon. There are also huge generational differences in the workforce which makes it difficult to deliver a one size fits all approach to rewards so constant innovation is key and making small strides toward big changes is critical when operating in a more bureaucratic environment.
What is your greatest personal challenge & How You Cope / Learn to Improve? Raising my two daughters is my biggest personal challenge and will continue to be. It is both a joy and a challenge and I love them more than anything. I want to do the right things to ensure they are good people and that I am a good role model. Unfortunately we still live in a society where you start off at a disadvantage simply because you are a girl and I want them to know they can accomplish anything they set out too, however big or small this is with personal contentment as the ultimate goal.
What are some of your Recreational Activities / Passions, And Why? I love practicing yoga particularly a practice that gives a strong mind-body connection and help me tune into the present. It amazes me that after a long day I can do a 90 minute yoga practice and feel refreshed again. I also love to spend time with my friends who have become my family in my home away from home. Getting together often with these folks and sharing a good laugh and some great food is always a fun thing.
How would you say that you LIVE (work/personal) the Purpose of the UWI-ALJGSB? I am always challenging the status quo of human development especially when it comes to fitting into the stereotypical mould of what a woman should be. I have been fighting the stereotypes while trying to be unapologetic about the qualities that make me a woman, qualities of which I am very proud off. I lead with compassion, thoughtfulness and humour and believe that this is the best way to keep a happy and motivated workforce whether or not this is a widely accepted practice is irrelevant since I need to feel like I have done right at the end of the day.
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Business Groups
Their Role and Impact on Economies Business Groups (BGs) dominate their economies, trading in all business sectors, diversified and industry-centred. BGs are family owned or conBy Paula Singh trolled, owned by diversified shareholders, both private and publicly listed. The Oxford Handbook of Business Groups lists fifteen definitions for BGs; one definition notes that the BG “is a set of firms which, though legally independent, are bound together by a constellation of formal and informal ties and are accustomed to taking coordinated action.” BGs are formed through diversification, whereby the parent or the holding company acquires, merges, or forms joint ventures to create new businesses. Diversification can take place with domestic, regional and international firms. Caribbean BGs diversify due to declining industries and they grow and retain market share, gain knowledge, develop new business, globalise and create synergies.
The In Trinidad and “Tobago the energy sector contributes 80% to the Gross Domestic Product (GDP); leaving 20% to other sectors.
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BGs support their economies in various ways. One example is in South Korea and China where they were formed to aid or speed up industrialisation; the BGs in Japan act as a buffer against global competition, protecting the domestic market. Cross shareholding, close relationships with government and interlocking directorates are common in BGs. Global top BGs such as Hyundai, Samsung, Toyota and Tata are family owned or family controlled. In the Caribbean, Ansa McAl Limited is family owned whereas Massy Holdings Limited (formerly Neal and Massy Holdings Limited), GraceKennedy Limited, Goddard Enterprises Limited, Guardian Holdings Limited and One Caribbean Media Limited are owned by shareholders. Interlocking directorates are common in these companies as directors of the firms usually sit on various boards in the group. BGs benefit through economies of scope and scale, sharing supply chains and product markets; filling institution gaps by providing internal capital markets for inter-firm funding. In the Caribbean GraceKennedy Limited, Ansa McAl Limited, Goddard Enterprises Limited and Massy Holdings Limited all own finance and logistics companies which are used to provide support and coordinate key activities within these groups. Caribbean BGs are important to the economies of their countries. In Trinidad and Tobago the energy sector contributes 80% to the Gross Domestic Product (GDP); leaving 20% to other sectors. In 2013 three large, publicly traded Caribbean BGs (Ansa McAl Limited, Neal and Massy Holdings Limited and One Caribbean Media Limited) contributed approximately 8.42% to Trinidad and Tobago’s GDP. Caribbean BGs seek and encourage Foreign Direct Investment (FDI); an example is the joint venture of Massy Holdings Limited with Japanese firm Mitsubishi to construct a Methanol Plant in La
Brea, Trinidad.
From a socioeconomic perspective, BGs significantly invest in education and training, sharing knowledge and resources throughout firms in the group and this is also evident with Caribbean BGs. Globally, there is a growing interest in the study of BGs amongst Strategic Management and Organisational scholars such as Granovetter, Krishna and Palepu, Khanna and Rivkin; and Ghemawat and Khanna who all published articles on this phenomenon. Their theories hypothesise that BGs may have a positive or negative economic impact; that there is a ‘dark’ side to BGs. Review of the literature indicates that BGs can block FDI, expropriate funds from minority shareholders and that their activities are so extensive they may become difficult to monitor. This research, though the subject of various researchers, remains inconclusive. Whether these findings exist in the Caribbean, warrants research Paula Raghunath-Singh is currently a Doctoral Candidate at the Arthur Lok Jack Graduate School of Business; her research is based on Caribbean Business Groups. She is an Internal Audit Manager at Massy Stores and also a part-time lecturer with COSTAATT.
The Gro-Bal Perspective. Globalisation can be viewed from various perspectivespositive or negative. Globalisation will affect everyone in both their business By Donny Rogers and personal lives and as a phenomenon it is here to stay. For businesses to stay competitive and current in today’s market, the Business Development function of any organization will have to be fortified- since the way we approached developmental initiatives before has lost its relevance to securing maximum yields and engaging business on the global arena. In some cases, business owners are unable to identify, by means of empirical data, returns on investment and the business development initiatives undertaken.
Having examined and researched not only the methods of business development from a global perspective, but the key performance factors which requisite as tools in this process, the following matrix was developed to be used in business development initiatives, serving as a ‘Process Map’. The ISENA Matrix, shown below, will not only provide realistic expectations to everyone involved but it will be specific to requirements and resources needed, the scope of personal involvement and most importantly, a timeline when real financial benefits can
be realised. In the global arena, expanding your business via inorganic means i.e.: acquiring new product lines, is done within a specific and detailed structure- and a cessation to the informal approach encompassed in the engagement of prospective Suppliers, JV Partners or Manufacturers to negotiate and expand their product lines and market share with a structured approach, is needed
The ISENA Matrix is explained: 1. Identify – this phase includes intended product lines, new products, range of products, possible suppliers, pricing, your internal capacity etc. A SWOT Analysis may be useful in this phase. 2. Strategize – this phase identifies how your initiative will be executed, the responsibilities of each team member, etc. By the end of this phase, an overview of a market entry strategy should also be identified herein. This may also hinge on the 4th stage where in the event of a JV, a market entry strategy will be jointly negotiated. A working business plan should be in existence at this phase. 3. Engage – this phase defines the methods of engagements to be employed, the persons responsible for each, their scope, the results to be derived etc. 4. Negotiate – as the name suggests and as many are cognizant, there are many methods and means of negotiations and this will vary in relation to industry, product etc.
5. Acquire – this phase, the final in the developmental initiative, will include the actual procurement of product, its logistics etc. At this phase, you may also consider a Value Chain Analysis to be done. Once these steps have been successfully attained, and in the case of a developmental initiative a new brand is acquired, the formal Brand Management will be brought to effect toward the end of this phase thereby marking the initiation of financial returns. Growing your business comes as a result of a necessity to stay competitive or as a result of organic reasons. Either way, you will compete with global market forces, global thinking and global experience. This matrix, in its simplicity, is a practical but structured management tool which can be adapted for use in any industry for any developmental initiative. Generally, the Caribbean business environment’s small and medium enterprises lack the formal tools and measures adopted in the larger arena. This matrix will equip business development teams to compete successfully with counterparts globally, in a structured and defined manner thereby increasing our international competitiveness by promoting proper planning, allocation of resources, effective use of resources, identification of realistic expectations and specific timelines prescribed for functions.
Donny Rogers is the Managing Director of DAAN Properties and Caribbean Bird Barrier Systems. He has over fifteen years of global experience in Business Development & Commercial Negotiations and is currently on a scholarship at the ALJGSB reading towards his MSc Degree in Small & Medium Enterprise Management. BUSINESS B BUS USIN IN SS INE SS M MA MAG MAGAZINE AG AGAZ AZI ZIINE Z NE
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Caribbean
Economic Integration
Developing business muscle for globalisation There are many who argue that Caribbean economic integration has reached the furthest that it would ever and that this integration would be By Latoya Richards manifested in the Caribbean under the guidance of CARICOM. Economic integration which involves intra-regional liberalization prepares the economies of the Caribbean to open up to the outside world and enables the full embrace of globalization while simultaneously protecting against some of its deadly consequences.
direct investment. These benefits translate into reduced costs of production, improved efficiency and productivity, access to higher quality materials, larger markets and an improved supply chain and are all key factors to establish and strengthen competitive advantage.
Thus economic “integration can enhance
The many benefits of Caribbean economic integration can be elucidated yet the greatest emphasis looking forward ought to be on its contribution to Caribbean businesses in the much larger picture of globalisation and extension into Latin American markets and beyond. The increase in rivalry that would be generated across Caribbean markets (in comparison to domestic markets) would serve to strengthen efficiency and the overall competitiveness of local businesses. Lack of competitiveness is the key reason globalisation has had such a negative impact in so many countries, resulting in the destruction of local industries that have not developed the muscle to withstand the onslaught of multinationals and international companies.
and strengthen support systems and create platforms for Caribbean businesses to utilise as they prepare themselves to take on the world. .
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The role of the government is among other things to provide a macro-economic environment which enables competitiveness, productivity and opportunities for its relevant sectors to grow towards the target of economic development. Caribbean businesses would benefit from a properly implemented model of economic integration resultant of the stimulation of economic growth and trade as well as the enhancement of foreign
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The benefits of economic integration are particularly important to businesses in the Caribbean due to the constraints faced by small island states. These constraints include vulnerabilities to exogenous shocks, small domestic markets and insufficiently diversified economies. Economic development in these circumstances needs to be driven by export-oriented growth with an outward looking perspective.
Economic integration in the Caribbean, especially of capital markets, provides the room to increase the speed and efficiency of the movement of capital in the region and this can translate into greater investments in Caribbean businesses. Capital Markets integration can also strengthen the domestic financial sectors across the region which is essential for Caribbean countries as Trinidad and Tobago who have identified the
financial sector as one of its growth poles in aid of diversifying the economy. An integrated financial sector can result in greater competitiveness with external financial markets, more innovative financial products and service and improved macroeconomic performance with the possibility of greater inward investment. Economic integration provides opportunities for the development of many support industries as governments seek to provide the necessary support and infrastructure for the regional expansion of businesses. Thus economic integration can enhance and strengthen support systems and create platforms for Caribbean businesses to utilize as they venture out to take on the world.
Latoya Richards is an attorney at law, the recipient of the De La Rue Scholarship (Finance) 2014 and is a student of the International Master of Business Administration programme at UWI-ALJGSB.
Clean your windows before you open them In Trinidad and Tobago retail brands have a huge opportunity to differentiate themselves based on service- and they can receive the By Dennis Ramdeen benefits that accompany such differentiation. My eight years of experience at KFC has shown me that people’s decision to return to your store is hugely influenced by the manner in which they are treated. In fact, according to studies conducted by KFC, the service elements are a bigger influence on the return of customers than the food and value attributes combined. Based on my observation, it seems that most companies have relegated the effort to improve their customers’ experience. They are of the conviction that it is a sufficient challenge to get a worker- any worker- to stand in front of the cash register.
Therefore, their focus continues to be driving people into their stores through advertising and the flavour of the decade, Facebook. Nevertheless, when we adopt this approach, it is akin to inviting people into our home when we are not sufficiently prepared to host them. We rely on the low expectations of service on the part of our customers as well as the assumption we share that we are on equal footing with our competitiors to conclude that the playing field is even. Yet, this kind of thinking is a ticket to mediocrity and ultimately, to the demise of business.
I have read many times that the most effective form of advertising, bar none, is word of mouth. Some people think the latter is slow but the internet is changing that in this land of “accept anything” we call sweet T&T. Yet, we remain transfixed on the media schedule and other marketing drivers as the main means of maximising awareness, getting traffic and transactions and building relationships with persons. Then, there is that other side of the internet- the internet as shop front. It’s anecdotal information, but everybody and their cousin seems to be purchasing something online, including groceries. How many retail brands in T&T are doing mystery shopping? How many measure their customers’ experiences? How many have identified a list of attributes deemed important to their customers? How many have told their staff the game plan and what they want to achieve? The simple truth is that this is hard work. It’s much easier to call your ad agency, whip out the cheque book and grip ourselves into customers’ hearts. Furthermore, because we have valued advertising agencies more than training and measuring agencies, guess which one is more developed in T&T? Simply, enough people do not pursue service improvement related businesses. We develop the skill sets that we reward and as a country we need to build the infrastructure for service delivery inside and outside organisations. Clearly, this is not ‘either or’ - advertising and promotions versus service training. These domains complement and need the other. However, the imbalance needs to be remedied and this remedy needs to come fast. It starts with an acknowledgement that customer service could be the next defining battleground for marketers. Why? Because it might be the only thing left for brands to have a sustainable edge. Price, product, place and promotion advantages have become harder to hold on to for long. All furni
ture and appliance stores sell, more or less, the same fridges and stoves, on the same price terms, close enough for their customers whom they all reach through print and electronic media. Making this change to position service on the front burner calls for an unlearning and detoxification of the “same ol’, same ol” way of doing business. It requires a revolution and it starts with the CEO. If he or she does not believe in this, game over. If we are serious about winning our marketing battles, developing great brands, driving sales and making more money, we cannot continue as if treating customers well were an optional brand feature.
Dennis Ramdeen is the Founder and Chief Inspirer at Pepper, a full service agency operating mainly in T&T. Before starting Pepper, he has provided marketing leadership for brands including Coca Cola, Heineken, KFC, Pizza Hut, Carib and Stag serving as Marketing Director with regional responsibility and has also worked with KFC and Pizza Hut in Canada. He is passionate about brands and what makes them irreplaceable. He knows how to use media, the web and events to bring people closer to brands in ways that are authentic and sustainable. His mantra is that a brand should “own one thing”. BUSINESS B BUS USIN IN SS INE SS M MA MAG MAGAZINE AG AGAZ AZI ZIINE Z NE
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National Competitiveness, Youth, Entrepreneurship and Culture The ability to diversify the economy and enhance global competitiveness hinges on the entrepreneurial culture of the people within By Lincoln Bobb the nation. Using that statement as a basis for analysis, suggested approaches for developing entrepreneurship within a nation must not only include creating a conducive environment for the interested, but also stimulating interest and knowledge within the nation. It must be clearly iterated that I am in no way stating that the creation of an enabling environment for supporting budding entrepreneurs should not be undertaken, but rather that emphasis must also be placed on convincing others within the society, in a very practical way, that entrepreneurship is the mainstay of our future economy. It is my belief that the main target of this stimulation initiative should be the youth of the nation. In an attempt to illustrate this submission, I will relate a story of my childhood when I lived next to the Joseph family. Mr Joseph, a Trinidadian, was a Spanish teacher that was born and bred in San Juan while Mrs Joseph was a chef/caterer from Maracaibo, Venezuela. Even though the family resided in Trinidad and Tobago, their children, Juanita and Ricardo, were, from a tender age,
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exposed to the cultures and languages of both nations. The ability to speak two languages, mix and match cultures, seemed utterly instinctual for them. It was fascinating to see Ricardo, at age seven, speak to me in plain insouciant Trinbagonian dialect and in a split second turn and speak to his mother in Latin American Spanish.
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The ability to diversify the economy and enhance global competitiveness hinges on the entrepreneurial culture of the people within the nation.
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Mr. and Mrs. Joseph, at that time, understood that in order for the Venezuelan culture to become part of the norm/culture within their children’s lives, it was necessary for the language and norms of Venezuela to be lived by their children from infancy. This was not only supported by their activities at home but also by their frequent visits to Venezuela where they were submerged into the Venezuelan culture. The Venezuelan culture justifiably became part of who
they were. Could you imagine how almost unnecessary it was for them to learn conversational Español in secondary school among the Trinidadian youth who struggled to learn how to roll their “Rs”? In further support of my conjecture, I refer to the paper entitled Entrepreneurs Success Factors and Escalation of Small and Medium-sized Enterprises in Malaysia by Raduan Che Rose et al (2006). In this study, University students in northern Malaysia were asked whether they looked at entrepreneurship as a preferred career option. In this research we discovered that mainly the students who came from homes or an environment where entrepreneurship was considered the norm, seriously considered entrepreneurship/new business creation as the preferred career choice. It seemed natural to them.
In reviewing Entrepreneurship Developmental Programs (EDP), not only in Trinidad and Tobago, but around the world, it has been evident that most entrepreneurial programmes tend to focus more on creating enabling environments through activities such as: • The availability of finance, • Training persons in dire need of improving their income and • Even providing low rental units for high valued real estate so that new business owners can conduct business.
economy through a comprehensive program that facilitates learning both theoretically and practically.
The research highlighted above and the observation of Juanita and Ricardo support the idea that the development of an entrepreneurial culture requires activities that imbue the minds of the toddler, teenager and young adult. Using parents and teachers and multiple media as channels, young minds can be influenced to develop business ideas and start simple businesses, and can be taught the idiosyncrasies of our
Lincoln Errol Bobb is currently the holder of a Bachelor of Science in Agri-Business Management, a Masters of Science in Marketing and is due to complete a Doctorate in Business Administration (DBA) in 2014 that focuses on the development of an entrepreneurial culture within the Trinidad and Tobago context.
Students should be encouraged to compete within simulated industrial conditions and be guided through decision making processes which, will in turn, enhance their possibilities of success in the business world of the future. It is believed that the implementation of such a program would ensure that the nation produces more driven entrepreneurs who will in turn maximise the resources provided for them by the EDP program which focuses on the development of an enabling environment. Without these programs, sustainable growth in entrepreneurship and diversification will be slow and increase in national competitiveness will be difficult to attain.
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ICT in Mergers & Acquisitions Information Technology has always been part of a business. Moreover, when a business needs to expand whether within its own local boundBy Adesh Rampat aries, regionally or internationally, Integrated Communication Technology (ICT) plays a pivotal role in forming a link between a company’s headquarters and local and international offices.
gence exercise must be conducted on the target company’s systems to understand current infrastructure architecture and security risks.
ISACA Merger and Acquisition: Effective Information Security Depends on Strategic Security Metrics: http://www.isaca.org Pricewaterhouse Coopers Information Technology Integration Putting IT to work in driving deal success: http://www.pwc.com
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The real involvement of ICT occurs when a company in one country, acquires the assets and operations of a target company in another country.
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In the setting up new offices, the ICT infrastructure of the parent company will simply roll into these new operations. This expansion creates fewer logistical issues, apart from sourcing and shipping new equipment for critical areas; the core platform will remain the same throughout. The real involvement of ICT occurs when a company in one country, acquires the assets and operations of a target company in another country. ICT becomes the bridge between the different systems upon completion of the acquisition process. This is a whole new ball game and a proper due dili-
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In order to provide an assessment of the target’s operations and present relevant recommendations, it is imperative that ICT be included as part of the due diligence team of a proposed acquisition of a target company. With early involvement, the acquiring company will have good insight into risks that arise during the acquisition process. Most companies will hire a consultant with experience in ICT Mergers & Acquisitions who can work alongside the parent company’s ICT professionals in developing the assessment and reviewing the recommendations. These are some good guiding documents that are publicly available on the involvement of ICT in Mergers & Acquisitions as:
SANS Institute Security Considerations in the Mergers & Acquisition process: http://www.sans.org
Adesh Rampat has twenty five years’ experience in the IT Industry and is currently Manager, IT Security at a financial institution.
Building a strong
Corporate Reputation via CSR It is almost a truism to state that within recent times, in spite of the consistent evolution and shifts taking in the By Erica Banfield Moore place b u s i n e s s environment, organisations still gravitate towards traditional modes of operation. These factors force and create new paradigms and it is evident that organisations’ business strategies have been customised to a certain extent, with a few exceptions to the norm. Organisations have a great responsibility to all stakeholders involved; both nonprofit and more importantly profit-driven. Business leaders are now required to do things differently and abandon the more traditional and conventional strategic options in practice. Therefore, a greater adaptation of the out of the box approach is needed, one being; the strategic option of building and leveraging the Corporate Reputation via the extension of their corporate social responsibility, to create social equity. Organisations cannot discount the value, both tangible and intangible, of a strong corporate reputation and its relevance and ability to gain for an organisation a sustainable competitive advantage. However, this option must be pursued by focusing holistically on the triple bottom line of “people, planet and profits.” There are significant business benefits to be gained, through investing in the human persons internally to build Human Capital and through the external development of current, potential and future stakeholders in the communities of your business. This
approach can create added value and leads to a genuine strategic differentiation in the market place. Business success is not only defined by the financial bottom line, but more importantly by the perception of your stakeholders regarding your corporate brand, corporate reputation and your contribution to society. Are your business relationships based on trust, commitment and ethical decision-making? What about your corporate governance policies?
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A greater adaptation of out of the box approaches is needed, one being; the strategic option of building and leveraging the Corporate Reputation via the extension of their corporate social responsibility to creating social equity.
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Organisations must recognise both sides of the coin; one which highlights profit from the market, and the other side which considers giving back to the wider society. Building and enhancing communities is in the best interest of stakeholders for the assurance of their continued support. Primax is one example of an organisation that went beyond the bounds and established the HER (Health Enables Returns) program which centres on raising awareness of and delivering health care education to female workers in the countries of their suppliers. This proved to significantly boost the corporate brand and corporate reputation of Primax.
Initiatives that extend Corporate Social Responsibility are required and all organisations that pride themselves as future thinking should get onboard and make a difference, not merely for their financial benefit but to create synergistic relationships with their stakeholders while simultaneously enhancing the well-being of others. The value of a strong corporate brand and corporate reputation must not be underestimated. This importance is underscored in the consideration of the consequences on both the business relationships and the financial bottom line if such considerations were eroded. Therefore, business leaders should be vigilant and proactive through the pursuit of more Social Equity initiatives and strategically managing their corporate reputation.
Erica Banfield Moore has over sixteen years’ experience in senior management in the areas of Strategic Marketing, Retail Channel Management and Business Transformation. Erica’s vast knowledge base can be attributed to her tenure with international and regional companies such as Courts Trinidad Limited in the capacity of Regional Trainer, Digicel Trinidad Limited as a Retail Channel Executive from the inception of organisation where she assisted in the negotiations with key stakeholders and was a founding member of the team to establish the local dealer franchise. Most recently, at the local Ansa McAl Group as Retail Channel Manager, Penta Paints Caribbean Limited she was also a member of the group process improvement team. Erica Banfield Moore holds a Post Graduate Diploma in Business Administration and a MBA from Henley University of Reading, United Kingdom. Currently she is a dynamic business professional and entrepreneur BUSINESS B BUS USIN IN SS INE SS M MA MAG MAGAZINE AG AGAZ AZI ZIINE Z NE
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Correcting Sino
Caribbean Misconceptions A persistent misreading of China’s goals in the Caribbean and Latin Americas has skewed the way we view and formulate policy in relation to the By Kirt St. Bernard People’s Republic of China, henceforth, PRC. Most of what is written in the West narrowly focuses on energy acquisition, trade expansion and political isolation of Taiwan. These three pillars of Western discourse have served to bracket not only our Eastern view but consequently our Far East overtures. This article seeks to give more useful viewpoints by looking at common flaws in three (3) significant areas
Origins Every nation, great or small, has its traditions, values and heroes. The image above is of a young Chinese General, YueFei, preparing to defend his people and carve his way into legend. Before he sets off his mother tattoos the words that would forever define his path (shown in image below); jìn zhóng bào guó; literally: “serve the country with the utmost loyalty”
Geo Political Asymmetry
MYTH #1. We are too small to make any significant impact in the China-Latin America and the Caribbean, henceforth, LAC, relationship. While there is clear disparity between the two regions, the automatic notion of superior and inferior rests on a wrong conception of what truly constitutes modern power. In the last few decades influence has come to be defined by soft power, smart power and comprehensive power, all of which have less to do with economic and military assets and more with cultural attractiveness and voluntary support of another’s position. These types of power utilize very different resources. A difference in size therefore does not necessarily equate to the LAC having to be at the losing end of any engagement (e.g. trade, negotiations etc.) if we train and equip ourselves with the tools of modern power.
Cultural Incoherence
The Chinese people have tremendous pride in their history and like us have emerged from the human shame of colonialism and imperialism. This China has far more in common with us than most literature readily recognizes and accepts.
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MYTH #2. The culture of China (PRC) has no relevance to the LAC region. The notion of an Eastern culture that is at variance with Western norms is mistaken. The same principles that drive the celebration and marking of days for remembering accomplishments, points to a deeper and more universal appreciation of culture out-
side of traditional confines. Culture may sound trivial, but when one considers that China has invested billions to promote its culture around the world, this points to a pivotal reality: the next stage of Sino-LAC relationship will involve a robust push for cultural melding.
This is similar to the export of US culture which currently has shaped music, movies and fashion to name a few, all over the world. The culture of American democracy is exported as much as any good or service. We should expect this to become more prominent if China is to assume a more central role in the geopolitics of the future. MYTH #3. China is the new Imperialist Much has been written to suggest that the rise of the PRC is synonymous with a rise in an ominous new form of Asian dominance. If anything China has shown a tendency to be more concerned with enforcing sovereignty, namely its right to self-determination. This is the core of their policy on non-interference in the affairs of others, namely the desire to simultaneously show and demand respect. Unfortunately much of our history in the LAC region with great powers has fallen under the dominance structures of the North/
South model. From slavery to colonialism to imperialism to structural imperialism our experience has been one of command and control.
China is different China is all at once and in equal measures a southern power with influence to rival that of the north, an eastern power with western capitalist traits and a developed power with developing country structures. China will have issues to grapple with going forward that will impact its ‘good neighbor’ footprint. Among these are climate change, human rights, labor reform and a host of sophisticated internal issues. A key consideration for example peculiar to the PRC’s rapidly modernizing population is how to manage the social fallout of a new technological generation with no interest in agrarian pursuits. These internal issues co-exist alongside China’s growing multilateralism (seen in their increasing involvement in international organizations and associations) and greater inclusion in the internal decision making
processes of the Chinese Communist Party (CCP). In the last five years alone, the PRC took the decision to impose term limits for its leaders, formally imposing an executive leadership configuration, long cherished by the West. In conclusion, it is worthwhile to remember that while the PRC is hugely successful, it is also impossibly burdened with developing country issues as well. The unequal effects of globalization can be seen all across China from modern cities to sprawling slums. Debilitating levels of poverty comfortably rest side by side with rich and opulent lifestyles. In this, they are similar to almost every country on the planet. Given China’s scale, we must begin by identifying these gaps in our perception of what China is. This places us at the beginning of a journey towards unravelling our reflexive submission to large powers. This in turn conditions our interactions and emboldens us to demand reciprocity.
A final necessary step at the entry level is to assess our own capacity in the new areas of influence and power. In my research over the years conducted in various parts of China I measured thirteen (13) areas of influence exercised in LAC by China. There are close to sixty-six (66) indices used by China’s top Universities to measure its Comprehensive National Power, henceforth, CNP. By analyzing our own CNP we are ultimately equipping ourselves for the task of restructuring the global terms of engagement. These preparatory steps pave the way for asymmetrical parity (equality regardless of dissimilarities) and will ultimately reinforce our position in the International Political Economy (IPE).
Kirt St. Bernard is a Lecturer and Program Director of the Executive MBA at the UWI/ Arthur Lok Jack Graduate School of Business. He recently completed his doctoral thesis on “The Geopolitics of Asymmetrical Parity: Agency and Plurality in Sino-Caribbean Transnationalism” and travels regularly to the Far East to conduct training and research.
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Sourcing in CHINA…
Finding the Right Supplier China is known as the factory of the world and has emerged as a major sourcing hub supplying corporations worldwide with products across By all industrial areMichelle Low Chew Tung as. China’s moniker is owed to a number of factors including the availability of raw materials, advanced production technology and the low cost of production for goods. Today, many savvy business owners have stopped using online wholesalers such as Alibaba.com and Taobao.com and are now sourcing their products directly from factories in China. Sourcing directly from China provides a number of benefits including more profits because purchasing is done directly from factories at a lower rate; provides value for money; higher quality products are manufactured and is customised based on buyer specifications; raw materials are available locally and the low cost of labour results in highly affordable products. Despite all its numerous advantages, there are several risks in sourcing quality goods from China. To receive what you order and to mitigate risks requires experience doing business in China, knowledge of the Chinese culture and language, and use of your guanxi (network in Chinese). Buyers may need a professional sourcing firm to partner with them to successfully source from China. This idea should not be discounted especially for firms that have never done business in Asia.
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dertake supplier identification research ensuring that they have distinctive attributes for defining and measuring their ideal supplier. Defining the right supplier is specific to each buyer, as the relative weight placed on the price, quality and lead time (if the product is manufactured) and other attributes differ from project to project. Normally, supplier identification research can take approximately four to six weeks. This process generates an initial list of potential suppliers using web directories e.g. www.GlobalSources.com and industry/ trade show directories. If the buyer chooses to manufacture goods in China instead of purchasing from wholesalers, it is advisable that focus is placed on factories that clearly demonstrate production experience with the buyer’s product and/or production method. Information on the size of the supplier’s operation, equipment, staffing and international compliance certifications are necessary. The potential suppliers’ brochures and websites are reviewed against the established attributes for the buyer’s ideal supplier and this results in the narrowing of the list to a smaller number of potentials.
Finding the right supplier
With this new short list of potential suppliers, the next step is to make contact via email requesting product specific information i.e. samples, minimum order quantity, and production lead time. Additionally, information on the actual production location and a request for factory ownership papers should be made especially by manufacturers. The supplier should be told that the factory location may be audited.
Locating the right supplier is considered the single most important factor in determining the success or failure of a buyer’s sourcing agenda. The buyer/manufacturer must un-
At this juncture, the research should narrow the field down to possibly three to five highly qualified suppliers. Buyers/manufacturers
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should verify if the supplier has a sufficient quality control system in place to make the desired product. If this is not to the satisfaction of the buyer, a third party quality auditor should be engaged to conduct a quality assessment of the factory. Due diligence should be carried out to ascertain whether the supplier has a good reputation, no legal problems and is financially sound. Based on the results of the factory visits, the next stage is sampling, trial order or even purchase order placement with the top vendor or two. It is clear that undertaking a thorough due diligence investigation of suppliers and manufacturers prior to engaging in a trade transaction can minimise risk and avoid problems when sourcing in China.
Michelle Low Chew Tung, MBA, BA (Hons) U.K. is the C.E.O/Principal Consultant of LCT Consulting & Associates Limited.
Plan for Success There is a saying, that “Common sense is not so common”. The older I get, the more this truth seems to become self-evident. That said, By Cecil Howell in business, there are certain fundamentals that hold true, irrespective of time and location. One such notion is that of preparation. Before undertaking any new global task, project, job or venture, it is absolutely critical to prepare properly.
teract with different markets. If it is apparel: What is the cultural meaning of your primary colors? Are there any shapes or colors that can be misinterpreted? If a dating application: How do local dating rituals and traditions affect the usage of your application? If a financial product: How does the local regulatory environment affect how your product is used and even marketed and sold? How will political relations between Trinidad and the target country affect the penetration of your product? What about trade relations? If it is an IT or technology product: How will local vendor relationships or even corruption levels affect your ability to finally sell your product?
Size Matters There is this prevailing ideology in the business world that bigger is always better; that the more you can sell of a product and the wider your consumer base, the better it is for your business. The underlying premise is that more sales equals higher profits. However, to state an old adage that is quite often true in the context of business - more money also equals more problems. So, before considering if your product has global potential, the actual first step is to consider what going global would mean for your company and if you as an entrepreneur are willing to pay the personal price and if the transformational effect it takes upon your organization is the type of company you would like to lead. Indeed, there are many products and services that have global potential, but are run by entrepreneurs who simply did not anticipate the toll that such growth would have upon their business and personal life, causing the company to ultimately fail, be sold or be overtaken by a competitor.
Ask, And You Shall Receive Assuming that you understand and accept the cost of global expansion, the next facet is to see how your product or service will in-
The list of scenarios and questions is as endless as the matrix of possible products and target markets. The variables, in many cases, are often as unpredictable as they are complex. So, the way to avoid some very fundamental market entry errors that could save millions of dollars is to simply ask the market. Ten years ago, “asking the market” would have meant to hire a market research company to do an extensive and costly analysis and case study (which many small and medium sized companies cannot afford). However, with the rise of both the Internet and the proliferation of mobile technology, social media and networking sites, compa-
nies in the Caribbean now have the ability to reach out directly to target customers/consumers, business partners, regulators and even potential competitors and get pointed mission- critical information at a fraction of the cost and often, only at the cost of time/ effort. Moreover, this generic “market entry research” will often yield not only a wealth of information, but also key business partners.
The Secret Sauce Although gaining market insight is absolutely essential, so is protecting one’s assets. By assets, in this case, I am referring to: Proprietary business models; Market entry plans (i.e. that you are even planning to enter the market could provoke a response from the market); Market entry strategies and Proprietary product information. There is a delicate balance between researching a target market and disclosing confidential information. One relatively simple way to protect one’s assets is to prepare a basic non-disclosure agreement (NDA) requiring that all information discussed be kept confidential. Granted, this assumes a certain level of local rule of law, which varies from one country to the next. Also, being requested to sign an NDA will possibly deter many sources from providing information who would otherwise be happy to assist. Indeed, opening up new markets is a fairly complicated undertaking. However, with the right preparation, expanding your business to global markets will be not only a profitable venture, but also one that sharpens and enhances your business and product or service offering.
Cecil John Howell is a successful entrepreneur with an Executive MBA from Chapman University. He has over nineteen years of international experience, including eleven years in Asia and running a successful market entry and staffing firm. BUSINESS B BUS USIN IN SS INE SS M MA MAG MAGAZINE AG AGAZ AZI ZIINE Z NE
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Service Exporting Once an organisation offers a service across a national border it is considered export, whether by means of sending representatives physically By Kristi Sankar to the foreign country, by establishing operations in the foreign country or through virtual means of exchange. The use of a service within a country by a foreign national is also considered service export. There has been a challenge both locally and globally in tracking service export activity because of its intangible nature as well as due to the fact that much of the service exchange that takes place may never be picked up on the “radar.” For instance, the statistics may never show the consultant who offers his/her services outside of Trinidad and Tobago via email or video conference, unless perhaps payments are tracked from a foreign source into the consultant’s local bank account. The most recent statistics on Trinidad and Tobago from ExporTT reveal that the majority of service exports are derived from the Commercial services sector, while services in the Computing, Financial and Construction industries show very little export activity. There are obvious challenges associated with moving a service out of Trinidad and Tobago. For example: 1. Lack of experience in exporting services, leading to apprehension. 2. Lack of familiarity with foreign markets and culture – an issue that affects global marketing of goods as well but may present unique circumstances for services since the sale of services often
requires personal relationship with and intimate understanding of the market. 3. Little brand visibility for local service companies thus making it more difficult to network and procure business. 4. The challenge of having to comply with certain standards and requirements in foreign markets, for instance, legal or architectural service providers may not be able to operate in another country automatically without complying with certain regulations. 5. Little support or strategy from incubator programs or trade support institutions.
The most recent “statistics on Trinidad and Tobago from ExporTT show that the majority of service exports come from the Commercial services sector. ..
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ketplaces provide a forum for service providers such as consultants, accountants, advertisers and web programmers to bid for projects with companies in many countries. There has been a move within the region by both service providers and companies looking to source service providers towards using these forums. On a closing note, there seems to be scope for exploring the use of services within the borders of Trinidad and Tobago by foreign nationals. We often tend to think of thismainly in the context of tourism and hospitality,but there is potential on a larger scale for attracting foreign companies to our country to head hunt various professional and other services. There is an abundance of skilled service providers here who would benefit from initiatives that help to create such linkages. Sources: ITC, UNCTAD, WTO joint dataset, provided by ExporTT. GOMEZ, D. (2013) “Overcoming Trade Challenges Faced by Caribbean Services Exporters – Caribbean Export’s Framework for Engagement”
Kristi Sankar Dunlop is an adjunct lecturer in the area of Marketing as well as Business Director at What If Ltd.
Despite the challenges, there have been strides in certain areas that show promise for service companies. In 2013, CARICOM launched the Caribbean Community Regional Aid-for-Trade (AfT) Strategy that outlined objectives for areas such as development of the production and export capacity for service sub-sectors in the Caribbean and the establishment of methods for services data collection, compilation, analysis and dissemination. In addition, there has been growing popularity in the use of online marketplaces such as guru.com and elance.com. These marBUSINESS B BUS USIN IN SS INE SS M MA MAG MAGAZINE AG AGAZ AZI ZIINE Z NE
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Will The Evolution of
Cloud Technologies Negate IT Departments? I sat perplexed during my Management Information System lecture when my professor uttered, “The shift to Cloud Computing demostrBy Andre Bates ates the impending extinction of the IT Department!” Admittedly, I was engulfed in a horde of mixed emotions as the comment hit home and I found myself staring at my chosen profession with a sense of hopelessness. However, upon examining my experiences, I saw that the emergence of Cloud Technologies has now understated the value of a competent IT Department. Cloud computing quite simply is the allowance of access to data and applications via the Internet. Data is stored in remote server farms therefore its actual location is unbeknownst to the end user hence giving “Cloud” its name. Commonly used examples of Cloud Technologies would be Dropbox and Google Drive. Cloud Computing in its many forms has been a trailblazer within the IT community allowing organisations to curtail expenditure and resources by subscribing to virtualized services and outsourcing its data/storage intensive applications.
Cloud computing “quite simply is the allowance of access to data and applications via the Internet. 20
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“Will the evolution of the technology make the profession redundant or worse, extinct?” I will seek to refute
developing new initiatives instead of subscribing to the status quo.
this claim.
There are detractors to Cloud Technologies and a prevalent question that remains, “How secure is my data and who are the gate-keepers?” The thought of it is often chilling to a Risk Analyst/Systems Analyst. Security of Cloud Networks came under scrutiny as recent as August 2014 when Apple’s own Cloud network was exploited exposing sensitive celebrity photographs. Organisations depending on their appetite for divergence of their information and for risk remain skeptical about third-party information operators. Some prefer to keep their information in-house at the behest of their clientele. To bolster this inefficiency Cloud Enterprise Services are now introducing bustier security and encryption solutions, which are now diffusing to other technologies and application platforms.
Virtualisation of applications is a subset of Cloud Computing and organisations spread across multiple geographic locations are currently implementing it. Upgrades, ease of use and reduced maintenance are all obvious advantages. Sounds simple, right? However, the execution of such a service is quite intensive in terms of system design and architecture, preparation, implementation, vendor SLA’s, risk analysis, technical documentation, training and continued support. The new functionalities now fall on the doorsteps of IT Departments and they are embracing these opportunities by re-training their staff thereby creating enhanced operational competencies and specialty functionalities. The evolution of cloud computing has now created a more efficient dynamic IT Professional. A direct effect of this evolution has allowed IT Servicemen to further an organisation’s business lines by
With every evolution of technology, desktops to tablet PCs, cellular phones to smartphones, there was the promise to make technology more hands-on. However, it has added an additional tier of complexity thus creating surplus occupations to support burgeoning environments. Cloud Computing is no exception. The IT Profession is not endangered but is on the cusp of an evolution seeing its benefactors subscribing to new methodologies. Should the emergence of cloud computing make IT Departments irrelevant; it won’t be for several iterations of the technology when it has fully matured to the point of self- automation. Andre Bates is a young IT professional whose experience has afforded him the ability to touch on all angles of the profession. He hopes to blur the line between IT support and integration during his career. He enjoys challenging new projects, system integration and building vendor relationships and hopes to see the Caribbean develop its technical capacity and infrastructure to complete globally.
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it knocks twice! Check the Trinidad & Tobago Newsday every Monday and Thursday to get started on your dream career. • PORT OF SPAIN: 23A Chacon St. • EL SOCORRO: Patraj Trace • TACARIGUA: FLOW compound • CHAGUANAS: Centre City Mall. • SOUTH: 1st Floor, Room 12, Cathay House, Carlton Centre San Fernando • TOBAGO: 1st Floor, E&M Bldg., 31 Wilson Road, Scarborough.
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Expanding your business globally Introduction A person planning to do business globally must first be cognizant of workable structures, suitable systems, dependable proBy Jessie Thom cesses and the right fit of human resources needed to be successful. In a local setting, the traditional approaches can be followed, but when operating globally there is need for the sensitive handling of people in light of the country’s culture, values and belief systems. Having the relevant skills are also essential for competently overcoming the challenges encountered. These considerations are all necessary for the overall strategic direction of a company.
Strategies for Success Importing and exporting are the fundamental approaches for small manufacturers who wish to enter global markets. Other approaches are to venture early into underexploited regions to gain market dominance and to build factories in foreign markets. Some companies make less costly moves at first: arranging joint ventures, forming partnerships and undertaking licensing agreements before venturing into more prominent business undertakings.
Benefits of Globalisation A foreign presence can increase sales and give companies access to new technolo-
gies and marketing ideas, particularly for smaller companies looking to faster-growing overseas markets. Countries that share similar free trade agreements can engage in trade which leads to the reduction of their operative overhead costs. Savings are also affected when companies employ a workforce in countries where the cost of living is lower. When companies experience financial crises they can salvage what remains of the company by reassessing their budget and moving overseas.
Challenges of Globalisation To expand the range of goods and services offered, a company needs suitable technologies and communication infrastructure to reliably source equipment, utilities and other resources when required. Countries with insufficient resources and the inability to deliver support services are less attractive to prospective countries desirous of expansion. Knowledge of business law, best practices, foreign trade, international exchange rates, politics, cultural barriers, beliefs and values, and demographic trends of intended trading countries are essential. Global organisations employ people of different religions, cultural practices and racial composition to underscore the importance of diversity. Organisations must therefore encourage multiculturalism to promote fair treatment and equality among employees and customers. This can prevent the type of business failure that stems from high turnovers, low morale and the threat of lawsuits and walkouts.
ployees and customers in addition to the best practices to pursue and how to resolve
Organisations must “therefore encourage multiculturalism to enable employees and customers to feel they are being fairly treated.
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issues that arise. Today, many services are available to support the globalization of companies; consultants offer a range of specialised services and funding can be obtained from import-export banks, the latter of which also provide insurance services. Global business is facilitated by technological breakthroughs in electronic mail, social networking and air travel, enabling businessmen to operate from remote locations. Reference: http://www.quickma.com/strategy/
Conclusion Businesses go global primarily to expand their operations in the pursuit of higher profits through the provision of a wider array of goods and services. A close analysis of the suitability of countries must be made to ensure entrance into those countries that can render maximum benefits. It is imperative for foreign operators to understand deeply the most suitable manner to relate to em-
Jessie Thom, a Guyanese by birth, is a former member of the military services. She has worked in both the private and public sectors including working in companies involved in gold, bauxite and manganese mining. Presently she is pursuing the International Master in Business Administration, majoring in energy management. BUSINESS B BUS USIN IN SS INE SS M MA MAG MAGAZINE AG AGAZ AZI ZIINE Z NE
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Engaged employees?
Not without better communication Companies the world over are hell-bent on “engaging” their employees. Engaged employees, it seems, are now By Richard Thomas gold. Enthusiastic and highly motivated, the engaged employee is on the job not only in body, but in heart and mind as well. Clearly, such employees represent a powerful source of competitive advantage, so it’s not surprising that businesses now want them. The problem is, you can’t merely go out and buy them. Nor can you transform existing employees, simply by promising to pay them more if they produce specific results. Why not? Because employees become engaged largely due to the way they are treated and managed – by the way they are stimulated to work, not simply by the way they are compensated.
clear that “weIt’sifpretty want engaged employees it’s our management style that needs fixing.
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For example, benefit plans, pay-for-performance schemes and annual bonuses have been around for years. Yet, many companies in the Caribbean are still plagued with
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lack of commitment on the part of employees, lack of trust, strained industrial relations and poor business literacy. It is pretty clear that we if want engaged employees it’s our management style that needs fixing. To be recognized and valued are human needs, same as air and water. Moreover, since we spend the better part of our lives on the job, and since, what we do hugely influences how we measure our worth, recognition for what we contribute ranks high indeed. It is degrading – and demoralising– to have such worth expressed solely in terms of dollars and cents, and to receive no other form of acknowledgement for work well done. How engaging is that? One of the most powerful ways in which corporate leaders can reward, respect and thereby engage employees is by communicating with them candidly and consistently – sharing what corporate communicators call “the big picture”.
ers and supervisors as well. How absurd is this? These people are the most powerful communication agents available to corporate leaders. It has been universally established by study after study that face-to-face communication is the most preferred method among employees for receiving information. Furthermore, the face they are most likely to see day in day out is that of their immediate supervisor or manager, not a senior executive. Face-to-face creates opportunities for dialogue: to ask questions, to seek clarification and even to offer suggestions on how to solve a pressing problem. It sounds a lot like engagement to me. However, it can’t work if middle management is left out of the information loop and have not been taught the communication skills needed to recognise, reward and motivate people. When a manager can’t answer employees’ questions and has to say, “I’m just as much in the dark as you”, corporate leaders are not doing their jobs. Communication is leadership.
Most employees are genuinely interested in the issues that affect the success of their company. They want to know where the business is going, how it plans to get there and how they can help. They want to be able to connect their workplace with the marketplace. They want to feel connected to the business and to contribute their ideas. Starved for relevant information, employees are forced to seek sustenance from the company grapevine, which is always fast but oftentimes inaccurate. Alternatively, they must make do with a Vision and Mission Statement tacked on to the wall above the receptionist’s head.
Due to its exclusive approach to information, and the importance it attaches to hierarchy, command and control style management stifles effective corporate communication. In addition, it’s easy to tell the companies where it is still in force.
Sadly, this situation applies not only to rank and file employees, but to middle manag-
For a start, business strategies falter for lack of understanding and support. Restructur-
ing and organizational changes are often more threatening than needed. Mutual trust is lacking and management frustration is high while employee morale is low. Good employee communication is not the only ingredient in the recipe for engaged employees. However, without it, you are not likely to succeed. To turn employees on, you must first plug them in. Richard Thomas is Principal of Clarity Communication, a corporate communication practice established in Barbados in 1999. This article was first published in the online version of Business Barbados in 2012.
Richard Thomas is the Principal of Clarity Communication, a Barbados-based corporate communication practice.
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Finding Support for your Cause For a young n o n - p ro f i t / f o rpurpose organisation, scholar who cannot afford to pursue his/her study programme of choice, or for an By Sharda Beharry individual facing medical expenses (and many others), fundraising is a necessity. However, in this engagement, you can quickly exhaust the resources and patience of your personal and professional network without meeting your target. How do you obtain support beyond your immediate network, and even beyond the boundaries of your homeland?
2. The call to action must include support for your cause and a means for encouraging others to participate. The parameters of the Ice Bucket Challenge varied according to each participant, but generally, donation and nomination (public call out) were involved. People are more likely to heed a call-to-action from someone they know.
Luckily, neither your cause nor your organisation needs to be relatable. Obviously, it would be beneficial, but it is not essential. This is what the recent success of the ALS Ice Bucket Challenge demonstrates. How many participants were aware that this initiative centered on ALS? How many participants were familiar with ALS? How many participants shared a deep concern for ALS patients and research? All? This is highly unlikely. People were attracted to the challenge, not necessarily to the cause. People were encouraged by friends not the ALS Association to participate. The campaign thrived, for the same reasons social media platforms thrive; people live for ‘likes.’ Now, you may ask, “How does this apply to you?” When trying to attract global support, incorporate elements that make your campaign universally appealing- even if your cause is not. Lessons from the Ice Bucket Challenge:
Technology makes it easier for persons to make monetary contributions irrespective of location. Internet and mobile banking facilitate the convenient transfer of funds between bank accounts while crowd-sourcing platforms like IndieGoGo enables users to set up online campaigns and supporters can make donations via credit card and PayPal. The inherent convenience means that people with a willingness to support will more likely convert that intention to action. The question then lingers: How do you attract supporters who do not immediately identify with your cause?
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1. Content must be fun (ideally safe) and easy to produce, share and consume. The ubiquity of smart phones, internet access and popularity of social media platforms makes this achievable. Ice poured onto a person’s head arguably lacks “fun” but the videos for many have some entertainment value. People like posting content that others will like, even more so if their moment of spotlight shows them involved in something greater than themselves.
3. Give a short deadline. The Ice Bucket Challenge gave nominees 24 hours to respond. People tend to act right away or not at all, if not prompted.
Content must be fun “(ideally safe) and easy to produce, share and consume. The ubiquity of smart phones, Internet access and popularity of social media platforms makes this achievable.
”
Virality is not easily replicated so be realistic in your expectations. Be thoughtful. Some people found the water wastage insensitive given that access to clean water is a struggle for many in developing countries. You do not desire a call-to-action insensitive or offensive in nature. Be creative and with a little luck you can take your cause global.
Sharda Beharry is co-founder of Project for Educational Excellence, an educator and IT professional.
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Globalizing HR:
Challenging Conventional HR and Presenting a Winning Roadmap for Today’s Practitioner Believe it or not, the term ‘globaloney’ was coined by global strategist and Harvard professor, Pankaj Ghemawat. He asserts, that the notion of a borBy Stacy Homer derless, global village is over-rated; it’s ‘globaloney.’ Instead, he advises that our focus must be a realistic, semi-global one, since diversity issues face us on local and regional levels. With practitioners believing that global HR means booking a flight for a hired expat, then are we too guilty of practicing ‘baloney?’
•
We Do Things is Head Office’s Way. Integration – A more inclusive approach in which change occurs to both the acquirer and acquired. It involves taking the best of both entities, so that the company’s overall culture is a reflection of what existed before in both. HR’s role therefore involves a deep rooted understanding of what worked best in both environments and why, transposing these internal best practices across organisational borders and attaining buy-in for these to be adopted.
Listed below are two quick win global HR approaches: HR Deliverable
Conventional Practice
Global Practice
Acquisition Strategy
Preservation,
Transformation
Assimilation
Strategy
and Integration Talent
Hiring of
Managment
Expats
Talent Supply Chain Management via Corp U
Strategy: HR usually adopts one of the following strategies, during a company acquisition: • Preservation: little culture change occurs; both the home company and acquired companies retain their cultural identities. HR’s role: maintain the status quo in each entity • Assimilation: Acquired company undergoes a high degree of change since it must now adopt the culture of the home company. HR’s role as change agent is to ensure that new norms, values and practices mirror that of the acquirer and only the acquirer. The Way
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Fortunately, I’ve engaged in culture change due to acquisitions and can attest that each strategy comes with both its merits and drawbacks. But even the aforementioned can be taken one step further – Transformation. This involves three steps: 1. Like integration, you incorporate the best of both worlds by transferring internal best practices between companies. 2. Then, adopt an ‘outside-looking-in’ approach and also introduce current, external best practices and 3. finally introduce new ways of organising work, people and processes. In other words, borrow from the best, but make it your own. This is transformation at its truest – best of the old and the new.
People Management: HR continues to lose the talent war when focusing mainly on recruitment. If you can’t
buy your talent locally or abroad, then build it! Several global companies are gaining traction from this approach, especially via the Corporate University (Corp U) stream. McDonalds, for instance, certifies its employees through a McPassport Programme, so that they can work in any store worldwide with the competencies taught. For the fourth year in a row, Going Global Survey, 2012 has proffered that the four competencies critical to working in a global environment remain: Global Mindset, Cultural Intelligence, Strategic Thinking and Adaptable Change. Why not invest in a Corporate University and build your talent? Hence, change the way you engage in talent supply chain management by teaching global competencies to your global resources. Colleagues, I attempted to challenge two conventional approaches to global HR, with the hopes that alternative strategies can be employed. For us to truly succeed in this semi-global arena, we must balance the need for global intricacies with that of local necessities.
Stacy Homer is a proud graduate of Lok Jack GSB and is currently a Director of Human Capital at a leading multinational Retail Company. Her experience in this field spans Corporate HR, Lecturing and Consultancy. Additionally, she is a guest speaker on a local morning show to converse on such topics as HR Technologies, Dealing with Difficult Employees etc. When Stacy is not hard at work, she is also hard at play at what she calls her “real, full-time job” – that of being a mom.
Leading from Behind Whether you are Achilles, Alexander or Tsun Tzu, the leader in your home or the person who gets things done that others are not capable of By Malika McLeish achieving; you possess leadership qualities. These qualities are neither learnt nor taught but are inherent in certain individuals (Drucker, 1955). Kent (2011) also advises, “Leading is an influence relationship” and this relationship usually results in lasting change. While the practice of leadership may differ according to environment and personality, the completion of the tasks is the significant measure of a person’s character. Former President Nelson Mandela maintained that “it is better to lead from behind and to put others in front, especially when you celebrate victory.” His statement encourages leaders to pass the buck when praise or success is expectant and not as a result of negative situations. Often as an HR Professional, I am asked almost daily: “How am I to achieve experience if I am not given the opportunity?” “Supervisory or leadership is not on my job description you say?” Those of us en route to senior positions are challenged to make use of this technique and be an amazing follower. The art of making your leader stand out as the best is not done for your benefit, but for the revolving door of successful leadership that will be transferred to you later. This is the masterful way of leading from behind. Over the past year I have been challenged to not lead from the forefront as a supervisor, manager or executive, but from behind. I unknowingly made use of the concepts espoused by Hill, 2010. They are as follows: 1. Expectations – An atmosphere where there was positive expectation of what I would accomplish next and what unusual duty will be successfully completed. Now, more than ever, candidates for employment need to high-
light their experiences suitable to the position and demonstrate the ability to work without consistent supervision. Their ability to think outside of the box is in great demand.
• •
2. nnovation - In the book “Jobs”, Blumenthal shared that employees were regularly asked to create and do more than the usual or norm. The iPhone and iPad are the result of those innovations, and more significantly demonstrate a strategy of being competitively advantageous. I have received complaints from employees that what I asked for from them was not contained in the job description, but as more and more persons became involved in the process, more tasks got accomplished through the team effort.
•
3. Change - Lewin (1950) advises that the steps of change include: unfreezing, transformation and then refreezing. No one is advocating the breaking of policies or procedures, but we are promoting an open mindset with respect to accepting the fact that amazing ideas can come from almost anywhere in the organisational structure, even from those of us who ask for more than the box. I am not promoting leaders avoiding their responsibility, but rather encouraging managers to accept the fact that leaders get things done through other people, according to Follet, even when the leader is not an official one. Overall, if you allow persons who are not sanctioned by their job description to complete tasks which they are passionate about but the tasks are completed well; then you should allow them. If you have a team member who may not be qualified, but the quality of their managerial concepts are superior, then allow them. You are leading from behind if you engaged in the following: •
You are interested in understanding people firstly as human beings, but also to align people based on strengths and talents.
•
• •
Motivation has been mastered. The flaws in a person are not highlighted as a weakness, but as useful in task assignments Strengths in the team are identified and honed You stare at the vision for very long, with parallel thoughts of the team and how it can be successful Developer of tactics and strategies Master of Mouth Management Skills, Duncan (2014)
I have had a manager once tell me that if I were not pregnant she would say some things, and one can only guess what that means. However, the point is whether you are an official appointed leader or not, according to Apostle Duncan you need to manage what you release out of your mouth. In closing, as an employee you can be afforded the opportunity to complete tasks which are seemingly outside of your sphere, and you can accomplish vast amount while maintaining the portfolio of a junior. While managers, executives, and directors are encouraged to step back like Steve Jobs and allow change, allow leaders who may not be organization-structure or job-description sanctioned leaders. Achieving much is possible and probable if you are open to leading from behind.
Bibliography: Blumenthal, Karen. Steve Jobs: The Man Who Thought Different. 2012. Square Fish. United States of America. Daft, Richard. Management. 1997. Dyrden Press. Duncan, Vivian. School of Prophets Level II. Hill, Linda. Leading from Behind. 2010. Harvard Business Review. Accessed on September 10, 2014. Mullins, Laurie J. 2010. Management and Organizational Behaviour. 9th Edition. Prentice Hall. England
Malika McLeish is a Human Resource Analyst at the Court, Human Resource Management Unit of the Judiciary of Trinidad and Tobago. BUSINESS B BUS USIN IN SS INE SS M MA MAG MAGAZINE AG AGAZ AZI ZIINE Z NE
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To Click or Not to Click
How E-mail Culture can affect your Business Business opportunities are no longer solely around the corner- at some point you or your staff will have to communicate with someone By Lisa Jessamy from across the globe: an Amazon representative in USA, a website developer in India, or even an importer in Italy. More and more people are exchanging ideas, products and services interculturally. E-mail is one of the most prevalent ways of conducting such business. However, when different cultures interact there will be differences, and as anyone who works with different nationalities can attest: communication is not always as simple as usinge-mail technology itself.
you are speaking, how to address them, since preferences vary. Additionally, they too may be trying to address you by your cultural norms. According to a report by Deloitte on cultural issues in mergers and acquisitions, given that culture will seldom stop a proposed transaction, it becomes the responsibility of the people managing the deal to stop culture from undermining their desired goals. The most widely practiced approach to managing the cultural issues is to define a set of desirable cultural attributes (a typical set being: customer-focused, innovative, entrepreneurial, decisive, teamoriented, respectful of others) and then to exhort employees to adopt these attributes in their daily behaviour. 1.
More and more “people are exchanging
ideas, products and services interculturally. E-mail is one of the most prevalent ways of conducting such business.
”
These cultural differences can be anything from meeting style, culture, etiquette and language. As a result, choosing the best way to communicate and understand the receiver of the message is key. Here are three important steps when communicating using e-mail across borders.
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2.
Language: English -without a doubtis the main language of the modern world. Most e-mails are written in English and it is the universally accepted language. However, within an intercultural context, English may not be easily understood if it is not the first language of the speaker. This can result in poor grammar, misspelt words, misuse of tense and the invention of new words. When writing e-mails, avoid using slangs, swear words or idioms. In a recent TIME’s article, CEO David Bailey learnt French in seventeen days. One of his techniques was to learn common words and phrases used in French, which helped built his confidence, and in turn, made the person receptive to the conversation. Be open to learning about the country’s culture and customs. Keep your words simple, familiar and relevant. Culture: You can never go wrong if you are using a person’s surname. In Japan, for instance, if you were to call a person by their first name, this may be deemed disrespectful. As a result, it is best to ask the person with whom
3.
Business Etiquette: The inability to see gestures and expressions that are absent when sending an e-mail may result in a break in communication or basic understanding. So, e-mail should never replace conversation. Constant Contact, a leading team providing email marketing services, calls their customers wherever they are in the world, to identify if their needs have been met and if they need assistance in understanding the information provided by e-mail. Developing an e-mail code of
conduct is one of the most ignored steps when using e-mail in a business environment. Having an e-mail code of conduct is the most effective way to ensure the corporate messages are consistent and complies with the best business practices. Set up some ground rules and then learn how to tailor them according to the situation. E-mail is a powerful tool used to empower businesses transactions and grow customer relationships. Therefore, before you decide to click, pay attention to your receiver’s language limitations, use standard business etiquette, and have a deeper understanding of culture as it relates to the business at hand.
Lisa Jessamy is the CEO of Andalise Consulting Group and Manager of Prestige Business Publications. She holds over seventeen years’ combined experience and qualifications in the areas of General Management, Journalism and Public Relations, Human Resources, Marketing and Communications. She was a former Associate Editor of Guardian Media (Special Publications) and Manager at Client Services of HRC Associates Management Consultants.
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The Importance
of a Foreign Language in Business Parlez vous francais? Sprechensie deutsch? Habla espanol? Gone are the days when learning a foreign lan By Natalie David guage seemed like a foreign concept (excuse the pun). In today’s fast-moving, consumer-driven, globalised environment where indeed the world has become a smaller place – it is now a necessity to speak a foreign language. It often gives you the edge on a competitor and a competitive advantage in many situations. It builds a level of trust with the focal country and often opens doors to the foreigner (aka ‘you’) who appears humble enough to treat his/her host with a more refined level of customer service. Learn the Basics 1. Know your learning style: are you a visual, auditive or kinesthetic learner? 2. Learn pronunciation: otherwise you will sound like the English policeman in ‘AlloAllo’ – and rather than listen to you, people will laugh at you; 3. Pay attention to the grammar: every language usually has varying conjugations: believe it or not English is still considered the most difficult language to learn (even by native speakers); 4. Memorise thirty words and phrases each day – this will go a long way towards retention of the material; 5. Practice the alphabet; Practise the Language 6. Listening – The most difficult part of learning any foreign language is (in ascending order of difficulty): reading, writing, and then speaking. Let’s face it, even in our own native language, the jargon, enunciations and dialects often make it difficult to understand the speaker; 7. Read in the chosen language; 8. Speak with native speakers;
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9. And of course, practise…practise… practise…remember Celine Dion learned to speak English in 3 months – you can too! Within the world of international business, it is imperative to remain globally competitive. Being multilingual (or a polyglot) can procure the following (competitive) advantages (this list is not exhaustive): 1. Many foreign firms prefer to work with partners who have some level of fluency with the local language (and/ or speak more than one language). It makes ‘doing’ business easier; 2. Aids in relationship-development/ building with ground staff in the focal firm including distributors, sales reps, head office support staff, etc; 3. Contract negotiations are often easier since less is ‘lost in translation’; 4. Being able to communicate with people in their language also demonstrates that you have some knowledge regarding the culture (to truly understand a culture, you have to know what the people are talking about) and the respective rituals of those people; 5. Aids with marketing strategies and slogans. For example, NOVA means ‘it does not go’ in Spanish – to market a motor vehicle with that logo would be a colossal and costly error; 6. Helps when you are travelling - to read signs, ordering at a restaurant, general movements; 7. Demonstrates your humility, and willingness to put the customer first; 8. Creates new experiences; 9. Facilitates meeting new people and (potential) business partners – remember, not all deals are made in the boardroom; 10. Learning a foreign language improves your mental acuity. Children often learn a foreign language very quickly, mainly because they are unafraid of failure and completely immerse themselves- and this is the fastest way. Therefore, go ahead, be brave, pick up a Rosetta
Stone CD, go online for free language sessions, check out UWI’s Centre for Language Learning (CLL), and conquer your fears…it will be one of the best decisions you ever made. And don’t forget…have fun! Recommended Languages Spanish – it is the second most spoken language in the United States, and given that most companies work with the US, it is more than likely that a contributor will be Spanish-speaking. The similar situation exists for French in Canada. Mandarin - it is predicted that China’s economy will overtake the US economy in the very near future. While learning Mandarin is quite the challenge, knowing the language will certainly provide some valuable benefits since many major deals are closed, in restaurants, the golf course, etc. Hindi and Russian – these are major trading blocks and represent a huge source of labour within the global economy. Japanese - Japan is the world’s third largest economy and remains cutting-edge in business. It is a solid country for long-term investments, resilient and is able to respond to change. It remains a unique player in the Asia-Pacific, possessing an important role in building regional prosperity and security. It is also safe, relatively deregulated, consistent, profitable and enjoyable Natalie David is currently the Manager Financial Information Systems at TSTT. She is a Certified Accountant (FCCA) with a Masters of Science in Marketing (with a specialization in Business Process Re-Engineering, Market Research with Logistics & Export Marketing) from ALJGSB as well as a certified Project Management Professional (PMP) with sound Purchasing and IT functional experience. She has commenced her second semester with ALJGSB in the Masters of Small and Medium Enterprise Management programme. Natalie speaks five languages and is eager to learn more.
Energetic participants!
The UWI-ALJGSB launched its new networking event BUSINESS MIXER on December 4th 2014 at its Mount Hope Campus. This event is designed to help mid-senior professionals and entrepreneurs to grow and refine their network. Over 175 persons attended this event. The next Business Mixer is carded for
February 2015.
Eagerly awaiting the next group trivia question.
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Financial & Corporate Services Limited
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KAZYA EVENTORS Rentals & More Ltd
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Our Partners
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Profile of one group at the Business Mixer.
m th nt e lit tle steps foryourgia
Robert Mohammed, Marketing Manager at ANSA Chemicals and Lok Jack GSB IMBA Alum celebrating a group
Open networking session to build relationships outside of set groups.
The conversations extended into the carpark.
Festive wear at the December Business Mixer.
Representative of Unicomer Caribbbean Limited (one of the sponsors) engaging attendees.
School Events
The UWI-ALJGSB team, the Inter-American Investment Corporation (IIC) and the Export Import Bank of Korea (KEXIM), at the launch of the export-accelerator programme called “Hidden Champions.�
From left: Professor Gour Saha, Dr. Zaffar Khan, Professor Miguel Carrillo, Dr. Kamla Mungal, Jaidath Maharaj, Nirmala Maharaj of the UWI-ALJGSB with the awards won at the ACTT Quality in Tertiary Education Awards Ceremony
The Inaugural launch of the Global Entrepreneurship Monitor Report for Suriname
The Panel at the launch of the Global Entrepreneurship Monitor for Trinidad & Tobago
One on one with with top leaders at the Leadership Dialogues on November 25th 2014
The esteemed panel at the Global is Local Event on November 27th 2014
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