The National Competitiveness & Productivity Council continues its efforts in creating a mind-set change that promotes a more productive and competitive Saint Lucia. As such, as part of Productivity Awareness Week 2015 a Young Entrepreneurs’ Mixer was organised to present young and prospective entrepreneurs with an opportunity to network. The focus of this activity was for these young persons to make connections and obtain useful information to guide and advance their business efforts.
This event took place on Friday, October 16, 2015 where there were various short speeches on financial management tips, marketing for small businesses and developing business plans. The featured speech was entitled: “How to grow your money- the non-conventional approach”. In attendance were over fifty young and aspiring entrepreneurs. There was also a mingling session, where entrepreneurs got an opportunity to meet with mentors and other possible business partners.
One of the entrepreneurs in attendance was Mr. Johanan Dujon, who provided his feedback on the activity:
The NCPC Business Mixer gave me the chance to rub shoulders with the “big boys” of the private sector in Saint Lucia, as well as to listen to gems of wisdom by bankers and marketing advisors. Events such as these provide a unique opportunity for young entrepreneurs like myself, to network and build lasting relationships. Unlike other mixers I’ve attended, this one allowed entrepreneurs to pick the brains of successful businessmen at length in a casual and open environment. This type of mentorship and dialogue with the local business magnates is one of the key factors in developing entrepreneurship.
Another key factor in driving entrepreneurship is access to finance from a government policy standpoint. Commercial banks do not cater for venture capital (start-up capital) understandably due to the high risk. The micro finance institutions charge more exorbitant rates of interest than the banks themselves, which can be discouraging to aspiring entrepreneurs and put micro/small business owners in a real conundrum.
In spite of these pressing issues, listening to Mr. Rayneau Gajadhar address us on how to “grow money the unconventional way”, has provided valuable insight to what it takes to succeed in business. One of the many things I took from this lecture is that if you can survive here, you can survive anywhere.
I believe the turnout of this event shows that young entrepreneurs have a serious interest in business and understand their pivotal role of being the drivers of employment and investment in the future.
However, to grow money the unconventional way, we must first have access to the money in the first place. The question therefore should be; what can be done to aid micro/small enterprises with access to finance at an affordable rate?
The NCPC is indeed pleased that the event was quite beneficial to the attendees. The mentors who were present have reported that they have made connections with the entrepreneurs and plan to work with them in the future. We look forward to hosting other activities for young entrepreneurs in the future. More importantly, to host activities that meets the needs of young entrepreneurs.
For years, productivity was a term reserved for the esoteric conversations of academics, of little interest to anyone else, but no longer. Within recent years productivity has been at the forefront of the discussions of policy-makers, politicians and even the lay-man. The latest (2008) financial crisis and the period of hardship which ensued have exposed the vulnerabilities of Caribbean economies of which low growth and high debt top the list. This has prompted policy-makers to take a closer look at productivity and evaluate its relevance to the region. It is the belief that the Caribbean’s comatose growth is a symptom of the region’s low productivity. Barbados’ Prime Minister the Hon. Freundel Stuart previously admitted that Caribbean economies have been lagging behind in initiatives intended to boost productivity levels and drive the region’s trade competitiveness and economic development.
There is an urgent need for the Caribbean to undergo a period of introspection with the intention to identify the root of our low productivity and putting forward ideas and policies to remedy this deficiency. This article is one such attempt at self-examination, but is by no means a complete diagnosis of the regions deficiency. Rather, the article is a mere snapshot into the Caribbean’s low productivity which will hopefully inspire further discussion. The article will look briefly at the cause, effect and solutions to low productivity within the Caribbean; not necessarily in that order.
A good starting point for this review is perhaps to define productivity. The simplest definitions is that productivity is the rate within which inputs can be converted into output. The higher the conversion rate of inputs to output the more productive an individual, organisation or economy.
As was established above, low growth is one of the side-effects of low productivity. In order to appreciate the seriousness of low growth we shall consider the following. In the 1960s income per capita in Latin America and the Caribbean was almost one quarter that of the United States; compared to present day income per capita which is a mere one-sixth of the United States of America’s income per capita. This can be juxtaposed against East Asian countries which in the 1960s had income levels well below those of Latin America and the Caribbean; now, these very same countries are fast approaching the income levels of developed countries. Had productivity in the region grown at-least at the same rate as the United States of America, the income per capita of the region relative to the United States would have remained roughly at one-quarter after 50 years. Instead, our income per capita has worsened considerably in relation to the United States of America and many other economies and regions globally.
Within the Caribbean we have paid dearly for our lack lustre economic growth which has resulted from low productivity. One side effect which comes to the fore is rising public debt. Since, our growth within the region has been constrained, occasionally we are forced to borrow to survive; not only to cover capital projects but at times we borrow to meet recurrent expenditure.
One response taken by most Caribbean nations at one time or another to combat low growth was the provision of tax incentives to attract foreign direct investment, with the intention of increasing activity within the respective country and thereby propelling growth. These measures although well-intentioned can be harmful in the long run. For example from the 1970s and 1980s Jamaica’s industrial policy was based on two pillars: granting tax incentives to attract foreign direct investment and export promotion. This has resulted in a complex system of tax incentives which has distorted the country’s structure of taxation. Jamaica’s tax system consists of over 200,000 different incentives all in the name of attracting foregn direct investment; unfortunately, these incentives on average result in the government forgoing approximately 20% of its annual revenue. This lost revenue again leads to state borrowing, but also robs citizens of revenues which could have otherwise gone into infrastructural development, healthcare, education and any other number of causes.
The effects of low productivity are felt not only by the state and policy-makes, but also by the common man. Low productivity countries will normally have a lower standard of living and a more diminished quality of life in comparison to similar countries which enjoy higher levels of productivity. This is evident from the differences which would arise in income per capita from the above example; if using this as a proxy for standard of living. Eventually the population will realise the inability of the state to provide the quality or extent of services that more productive countries are delivering, which then results in a diminished sense of wellbeing and quite possibly migration in search of more lucrative opportunities. Once again this scenario is representative of the Caribbean, where in previous decades entirely families uprooted in droves en-route to the developed world in search of a better life.
Of-course there are a number of other side effects from low productivity, apart from the few mentioned above, but brevity must take precedence. The root causes of low productivity are just as sobering as the effects. If the question of “What causes low productivity within the Caribbean” is posed to the average Caribbean citizen he or she may not hesitate to finger the government or the laziness of Caribbean people. However, the causes of the deficiency are far broader and extend well beyond the bad habits which we have adopted as a society.
Poor allocative efficiency can be credited as the overarching causes of low productivity within the region. What this means is that the allocation of resources within the region has been or is being done in such a way that the maximum benefit from resources is not being obtained, resulting in Caribbean individuals, firms and governments paying a premium for lost output as a result of input resources not being assigned to where they would provide the highest value and return.
One infamous example of allocative inefficiencies across the region is through government social policies; either through government spending or regulation. ‘Blanket policies’ which are not properly implemented or monitored can have unintended consequences to the detriment of the economy. For example short term government employment programmes in Trinidad & Tobago have paid wages above the market rate for unskilled workers. This has resulted in an influx of applications for those programmes, resulting in a large number of unfilled vacancies for unskilled positions such as cashiers, cleaners and store assistants. This may seem innocent, but the impact is that salaries for these positions must then be raised to compete with government short term employment programmes and attract suitable labour, thereby unnecessarily increasing the cost of operations and making output less competitive regionally and or internationally. Social policies if left unchecked (as has been done in the region) result in a far greater cost, than just the funds allocated for these programmes. This is just one example of a well-intentioned social programme having adverse side-effects.
Interventions in the labour market by trade unions and other stakeholders can also hamper productivity, by preventing the efficient allocation of resources. Sometimes, these interventions may seem like a necessity, but this may be far from actuality. One prominent example is the upwards negotiations of wages solely on the basis of the increasing costs of living. Employees who are deserving of wage increases certainly should not be denied of such, by no means is this being suggested; however, rising costs of living may not be the most suitable benchmark to determine whether increases are necessary. Increased profitability of private companies and noteworthy performances are more appropriate criteria for determining wage increases. When wages and salaries increase solely in response to the cost of living, this increases a company’s cost of operations, without any increase in revenue or returns, therefore making operations less profitable, competitive and more expensive. The ultimate result will be a reduction in the demand for the goods and services of this company, possibly, with the eventual shutdown of the company, a fate which could have otherwise been avoided. Perhaps, this is why the Caribbean is one of the most expensive tourist destinations globally, and not because of the loss of economies of scale due to our smallness.
Our ‘smallness’ in terms of landmass, population size and the size and proximity to major trade partners results in diseconomies of scale, which also plays a part in reducing efficiency and lowering productivity. Diseconomies of scale contribute to some extent to the elevated costs which we face in the Caribbean. Free trade has often been touted as a boon to productivity by the developed world, because it exposes producers to greater competition, forcing them to cut costs and increase efficiency while providing greater access to more and better inputs. However, high trade and travel costs, particularly those associated with transportation, have prevented the Caribbean from reaping the benefits from international trade. Economic resources must be diverted to an inefficient transportation system to facilitate trade; thus hampering the overall level of productivity in the economy. Most Latin American and Caribbean countries have higher freight rates when exporting to the United States of America than countries in the Far East and in Europe. This is alarming, particularly when considering the proximity of the Caribbean to the United States of America compared to countries in the east.
Additionally, ports and airports within the Caribbean are grossly inefficient. Inadequate physical infrastructure, archaic processes and inflated costs of operations are usually to blame for these inefficiencies. The 2014 ‘Ease of Doing Business Report’ revealed that the average costs of exporting and importing a container for Latin America and the Caribbean stood at US $1,299.10 and $1,691.10 respectively; this is in comparison to East Asia and the Pacific which held the lowest costs for exports and imports in the amounts of US $864 and US $895 respectively.
The role of technology is perhaps the most significant variable in the productivity equation. Technology determines how efficiently inputs are converted into outputs. It should be noted that technology does not refer only to information and communication technology but is far broader incorporating most sectors. The role of technology in relation to productivity is just as significant for the Caribbean as it is for other regions. Unfortunately, the Caribbean trails the rest of the world in innovation and technological developments. Whilst the Caribbean may be up to par (although this too is arguable) with the technologies which are used most of these technologies have been adopted from other regions and may not be optimally suited for the Caribbean therefore we have not maximised the benefits from technology. For example most techniques and technologies relating to agriculture have been adopted from abroad and used within the region. The region has done very little to introduce indigenous technologies which are responsive specifically to the needs of the region. One indicator of this deficiency is the fact that the highest ranked Caribbean country with the number of researchers per 1 million people ranks at 65 (Trinidad & Tobago) with 589 researchers for every 1 million people, in comparison to the leader Iceland with over 13 thousands researchers per million people. The lack of technology which meets the specific needs of the region means that what is adopted is often times not ideal for the region but rather is a compromised version of what otherwise could exist.
Now that the cause and effect of low productivity have been explored some time can be spent considering the options for overcoming the phenomena. Lifting productivity takes time, requires thoughtful choices, patience and perseverance; and is underpinned by concerted analysis of the data, research and other evidence. Increasing the productivity for the Caribbean will depend on the coordinated efforts of individuals, firms and institutions in both the private and public sectors. A one-time solution cannot be put forward to remedy the deficiency but rather a holistic push is needed to reverse the fate of regional economies. Innovation and the introduction of indigenous technology are two must-haves for improving productivity. Deliberate efforts should be made by regional governments to push the creation of new technologies and fostering of an atmosphere where innovation can thrive. Investments are needed in research and development, which will allow for technologies tailor made to respond to the unique challenges faced by the Caribbean. Also, knowledge-intensive business services, such as telecommunications, software, and engineering, can strengthen the innovative capacity of the whole economy, improving a country’s long-run growth potential.
Countries must pay closer attention to traditional services, such as transport, logistics, and wholesale trade, and the creation of links between and among the different production blocks of the economy. Increases in productivity from the creation of linkages will improve productivity in creating final goods; which will have the added effect of increasing competitiveness.
Implementing policies which correct allocative inefficiencies within the region may be challenging, perhaps this may be the most challenging task. This is because policies may go against measures that give immediate relief to society as well as immediate political benefits, such as tax exemptions for sometimes non-performing sectors. Caribbean governments must first recognize the error in pursuing short term gains at the expense of long term objectives.
There is no one policy, or direction which will correct the allocative inefficiencies which exist. Policy-makers will then need to evaluate policies from a national and regional perspective; and address those policies which may distort market forces and not inadvertently adversely tip the natural balance of the market. A balance must be struck between short run outcomes of providing relief to those who have been disadvantaged and long term objectives necessary for development and productivity improvement. A number of considerations must be made by policy-makers; each unique to the particular Caribbean country its national circumstances, resource allocations, institutional history and cultural preferences.
Ultimately, it is difficult to drill down to a one size fits all approach for lifting the productivity within the Caribbean. The above suggestions are merely a start, and after further consultation many more causes, effects and solutions to chronic low productivity within the Caribbean will be identified. There are certainly many more which have not been mentioned within this article but this does not make them any less important. Throughout the introspection, one would expect the recurring theme to be that tough decisions need to be taken to reverse the misfortunes which have plagued the Caribbean for the past few decades. It is my hope, as I am sure it is the hope of every reader of this article that we will soon get it right and begin to reverse the fortunes of the Caribbean.
When you think about restaurants, stores and retailers near you, why do some seem to thrive whereas others are empty and ready to close down? The answer lies in competitiveness. A competitive business refers to a business entity which uses all of its resources to outperform its competitors. These businesses do so in a sustainable way rather than just over the short-term. In the Saint Lucian context, there are some markets where firms must compete in order to succeed. Those who battle to succeed are generally those who are competitive.
Competition in the business environment not only has a positive impact on consumers but on the local economy as a whole. Domestic rivalry supports productivity and international competitiveness of the business sector and promotes dynamic markets and economic growth. That is, when local businesses are competing with each other, they strive to keep down their operating costs which makes it is easier to pass on competitive prices to consumers. Lower prices means that the disadvantaged segment of the population are now able to enjoy lower prices. Therefore, these businesses can now reach more customers and can thus increase their market share. This in itself means that those firms are achieving increased productivity while competing.
In addition, competitors in the same market are always trying to increase their share of the market. In doing so, they may export goods and services to foreign markets. This has the advantage of helping them get more sophisticated clients overseas. Of course increased market share overseas can translate to increased profits. These local businesses are then able to expand and employ more workers. If this happens collectively, this will translate to increased employment, competitiveness and thus economic growth for the country.
Michael Porter, the competitiveness guru has stated that industries that are competitive internationally are those in which domestic rivalry is the strongest. He suggests that domestic rivalry contributes to the success of a country in a particular industry. For example, Korea’s electronics sector is globally recognised and highly competitive. The sector’s high performance resulted from rivalry between domestic companies like Samsung and LG. Therefore, when firms aggressively compete with each other locally this means they are more prepared and better able to compete and sustain competitive advantage in the international market.
Business leaders must understand that the never-ending search for competitiveness is, therefore, a search for competitive advantages. All firms in the same line of business are chasing the same thing, so you can see that the concept of competitiveness is a moving target. The complacent business that has enjoyed advantages in the past soon finds that it is overtaken by hungrier, fast-moving competitors.
Competitive businesses usually have one or more competitive advantages. Competitive advantage refers to the factors that allow a business to outperform its competitors. In order for a company to use those advantages to work effectively, they need to be sustainable. A business which has achieved a competitive advantage means that:
- The company has been able to add more value to its customers than its rivals and has been able to attain a greater market share than other firms.
- The company has an advantage over its competitors by offering a superior value, quality or service.
In conclusion, it is important that our local businesses know how to compete. They have to implement strategies to enable them to be more competitive. These entities have to strive for excellence in order to face fierce competition and more importantly for survival. This effort to outperform their competitors supports productivity and competitiveness which contributes to overall economic growth.
The National Productivity and Competitiveness Council (NCPC) reinforces its commitment towards promoting increased productivity and competitiveness by embarking on actions and activities which educate and encourage a mind-set change amongst the Saint Lucian citizenry.
Continuing on in this vein, the Council is seeking to empower and encourage future success amongst young entrepreneurs to equip them with the tools which will promote increase in innovations and by extension making their businesses more competitive.
To this end, the NCPC will be hosting as part of Productivity Awareness Week 2015 “The Competitiveness Enrichment Seminar” which will be held on October 15, 2015 from 9 a.m. until 3:00 p.m. at the ICT Centre on Bourbon Street, Castries.
The seminar will feature informative and engaging sessions touching on, amongst others, subjects such as Information Processing, E-Commerce, Social Media Marketing and Customer Service.
Event organiser Marina Suraj of the NCPC states:
‘If you are between the ages of 18-35 years and are an entrepreneur with a micro-business, this opportunity is for you!
The NCPC encourages persons who are interested in attending this one day session to contact their offices between Monday and Friday, from 8:00 a.m. to 4:30 p.m. before September 25, 2015 to indicate your interest. All interested persons are asked to register for this event at the earliest as a limited number of spaces are available.
A short profiling questionnaire has been designed and placed on the NCPC Facebook page for persons who wish to attend. You are welcome as well to visit our offices located on the Second Floor of the Financial Centre Building, Bridge Street, Castries to obtain and complete the eligibility form. The form seeks to ascertain the eligibility based on the age requirement which qualifies you the entrepreneur as “youth” and other pre-set features which identify your business as a “micro-enterprise.
For those who maybe working within the day but would still like to attend one of the events, we will be hosting a young entrepreneur’s mixer on the evening of 16th October, at The Blue Coral Mall from 6pm to 9pm. This will be a great networking event where numerous linkages can be made to help anyone along the way in relation to growing their business. Again, numbers are limited so we encourage those interested to get in touch with us at the earliest convenience.”
St. Lucia Hotel and Tourism Association Apprenticeship Scheme Intern Melissa Mondesir
Internships are an excellent way to begin building those all-important connections that are invaluable in developing and maintaining a strong professional network for the future.
Each year, thousands of students gain experience by doing summer internships. In order to be successful at your internship this summer here are seven tips that could help you make your stint productive.
Start your day early
Set your morning alarm earlier than usual and swing by the office ahead of time. If you’re feeling overwhelmed, this extra time in the morning can be very useful. This allows you the chance to complete a few tasks, check your inbox, and feel less rushed throughout the day.
Write down everything
Whether you consider yourself to be an absorbent sponge it never hurts to carry a notebook. When you have to remember important information, you won’t need to waste time racking your brain, but can open up your handy notes instead. Invest in a quality notebook or two and always keep them handy throughout the day for easy access.
Utilize to-do lists
Keeping a planner or to-do list can be help you keep track of your daily and weekly assignments as an intern. Remember, time management is crucial to becoming more productive. You will be thankful that you have everything scheduled neatly once your tasks and weekly meetings start to pile up.
Take regular breaks
Taking regular breaks may sound counterproductive however this will increase your performance at work. Studies have shown that breaks can help increase attention span as well as prevent fatigue and eyestrain from sitting at your desk all day. Everyone needs time to unwind and stretch- take a water break, make small talk with staff or take a few minutes to meditate.
Eat snacks
Don’t go hungry during your internship; snack on some healthy treats for extra energy and brain power. Skip the sugary sweets that can make you feel sluggish and grab something quick for the office for example almonds (a handful is rich in vitamin E, calcium, and potassium), fresh or dried fruits (naturally sweet and also strengthen your immune system), or carrots with hummus (which has protein, calcium, iron, and can improve your eyesight).
Ask for help
Try to avoid being the intern who refreshes their outlook inbox every five seconds waiting for something to do. Ask your supervisor or any other colleague in your department if there are additional tasks that needs to be done. Always ask for guidance if you are unsure of how to complete tasks and bear in mind that you are there to learn and grow. Showing initiative and interest will definitely increase opportunities for growth.
Meet everyone you can
You’re an intern in an office filled with industry professionals make use of this opportunity to network. Start by saying “hello” to people in the hallways, and always make sure to introduce yourself. The connections you make at your internship can not only keep you busy at work today, but also land you your dream job five years down the line. Remember to stay connected with everyone you meet (and add them on LinkedIn)!
Saint Lucia will soon have the ability to settle commercial disputes with the appointment of a judge to rule on commercial matters in a timely manner. High Court Judge -Justice Cadie St. Rose- Albertini was appointed to preside over such matters effective July 1, 2015 for the next three years. The Government of Saint Lucia has identified the establishment of a Commercial Division to its High Court as a high priority reform which will ultimately impact Saint Lucia’s competitive position and its overall development. In the 2013/2014 Budget Address, the Honourable Prime Minister endorsed the Division and partnered with the Compete Caribbean Program for funding support in its implementation.
This ongoing project is coordinated by the National Competitiveness & Productivity Council and the Ministry of Legal Affairs in collaboration with the Eastern Caribbean Supreme Court. Last year, the NCPC with support from Compete Caribbean embarked on the design of the Commercial Division to the High Court based on the experiences of a similar court in the British Virgin Islands which has been internationally recognized as a good model. The design is now complete and the NCPC as well as the Ministry is in the process of taking the necessary steps to establish the Division.
Additionally, the establishment of this mechanism will increase Saint Lucia’s competitiveness in the regional and international market. The World Economic Forum defines competitiveness as
“The set of institutions, policies and factors that determine the level of productivity of a country.”
Therefore, the presence of a set of institutions in a country that support businesses results in increased productivity and competitiveness. Thus, the operations of a Commercial Division can impact the competitiveness of a country through the promotion of business and investment prospects. The Commercial Division may contribute to a healthy investment climate which encourages investment into the country thus leading to economic growth.
This project will mark the start of enhancing the World Bank’s Ease of Doing Business Ranking for Saint Lucia and the overall business climate, through the Enforcing Contract indicator. For a number of years, this has been one of Saint Lucia’s worse performing indicators. That is, in 2015 Saint Lucia ranks 145 out of 189 economies on this indicator. On average, it takes 635 days and 46 procedures to settle a commercial dispute. Saint Lucia’s low ranking on this indicator is mainly due to the long delays in the trial and judgment phase. Frequently, after a case is filed, the parties have to wait over a year for a court date.
In general, the hiring of a Resident Judge to rule on commercial disputes will result in the speedy and efficient resolution of commercial disputes permits the court to be competitive and to support the business sector. In countries where contract enforcement is efficient, businesses are more likely to engage borrowers and customers which will translate to more business activity for firms.
It is expected that the new Division will be formally opened by the end of this year. It is anticipated that the Division will increase the efficiency of the legal system to settle commercial matters including contract enforcement.
The establishment of the Commercial Division cannot be realised without the associated legislative amendments or changes. It is expected that amendments will be made to the Code of Civil Procedure and the Civil Code as well as other pieces of legislation pertinent to the operations of the Commercial Division. Compete Caribbean has provided support for the revision of these pieces of legislation and will also assist in equipping the court.
Some of The Successful Candidates
‘As I continue to receive updates and photographs from the 42 students who are actively pursuing their dreams in the UK, I marvel at the difference that three months have made in their lives.
I remember with all clarity March 31st, when we sent out our first press release. We were thrilled at sharing this amazing opportunity but also anxious about the time line within which we would have to work. BPP University in the UK had extended 50 Full Tuition Scholarships to St. Lucian nationals in the disciplines of Business and Law. These scholarships were for their May 2015 intake. We had 6 weeks.
After 48 hours we had received over 50 emails; before the end of the week we had crossed the hundred mark. Students were requesting additional information, some seeking support and guidance through the application process. We were truly grateful when the university offered to send a representative down to St. Lucia to expedite the sign-up process. Mr Jose Castro, the director of Admissions, flew down a week later and spent three days at the SALCC interviewing and signing up students.
We now had less than a month for those who qualified to resign from their jobs, move out of their rented apartments, and tie up all loose ends, even before they had been issued their Tier 4 student visas which came with rich criteria. This proved to be our greatest challenge yet.
A plethora of emails danced between RISE, BCCC, BPP and the St. Lucian Government. Pre-existing bonds had to be deferred, financial institutions had to be endorsed by the Ministry in order to be accepted by UKVI, employers extended reduced mandatory notice to their employees, banks worked tirelessly with the limited resources of the students and the students themselves continued to support and encourage each other. It was no easy feat.
Faith, endurance, perseverance and eventually gratitude, become the pillars of their character as their learned to brush off one rejection after another and continue pushing onward. There was an abundance of paperwork, footwork and prayer.
Now, every day I receive messages from one or two of those remarkable young people, with updates on the progress that they continue to make in their new lives; and every so often there is an image attached of their faces bright with promise. I especially love noting the incredible backdrops- amazing views of London, a true sign that they have accessed a whole new world.
It would be remiss of me to not mention and extend heart felt gratitude to those who held the torches along the dark and challenging trails: Juliette Wagner James of BBP University who created and extended this opportunity, Jose Castro and his assistant Rebecca Charlton who worked 7 day weeks and 14 hour days so that the students would meet deadlines, the Ministry of Education and Government of St. Lucia who opened closed doors, the financial institutions (especially FICS) who worked with the students and found light, however little, and made it enough to convert opportunity into reality. Hibiscus Travel and Virgin Atlantic Airlines for extending group rates for travel, Bay Gardens Hotel and the staff of SALCC who offered spaces for us to meet as often as was necessary, the staff of FEDEX and their Customs officers on duty when those returning travel documents were needed in short time. The members of the British Caribbean Chamber of Commerce who remained throughout a phone call away, always willing to assist. The members of RISE (St. Lucia) Inc. who never missed a meeting, a call or group chat detail, and the staff of the British High Commission with special thanks to Mrs. Debbie Worrel here in St.Lucia and Dr. Ernest Hilaire in the UK, who made the impossible possible and today continue to offer a support system to the students. Finally, those individuals who went into their personal wallets when all resources had been exhausted before all needs could be met – Mr. Mandish Singh, Mr. Matthew Beaubrun, Mr. Boo Hinkson, Mr. George Alcindor, Mr. Leevie Herelle and Dr. Jacqui Bird.
Coming through to the other end of this initiative, it is evident to me that our young St. Lucians really do have a thrust for knowledge. It was heart breaking to see those who, through no fault of their own and certainly no lack of effort, were unable to avail themselves of what was sure to be a legacy altering opportunity.
It is my prayer that those 42 students who triumphed will continue to embrace the light, make rainbows of the UK rains and illuminate the path for those hopefully only temporarily left behind’.
to avail themselves of what was sure to be a legacy altering opportunity.
It is my prayer that those 42 students who triumphed will continue to embrace the light, make rainbows of the UK rains and illuminate the path for those hopefully only temporarily left behind’.
Are you a planner, prioritizer, visualizer or an arranger
An element that continuously needs to be assessed is that of the company’s staff. The presence of a variable, competent and capable staff can at times make or break an institution. Many a time, it is the way in which staff carry out their day to day tasks and implement innovative ideas that guarantees success. However, not all staff members are the same. Individuals often have their own work style and it is an amicable mix of these work styles that often gives a business its distinct competitive edge.
Within her article ‘Your Team May Have Too Many Prioritizers and Planners’ in the Harvard Business Review, author Carson Tate lists the four types of workers needed in a successful company. They are planners, prioritizers, arrangers and visualizers. Planners and prioritizers can be described as individuals who are analytical, linear and data and detail orientated. They pride themselves on their ability to be undoubtedly organized, precise and committed to honouring deadlines. Whilst arrangers and visualizers are supportive, expressive, and emotionally intelligent big-picture thinkers. They generate ideas and take risks.
In a recent assessment conducted by the Harvard Business Review over 46,000 people were evaluated to identify their personal productivity style. Specific questions were asked to help people to self-analyse and recognise how they think, learn and communicate best. On evaluating the results certain trends were found. Forty-seven percent (47%) of participants were recognised as Prioritizers, whilst thirty-seven percent (37%) illustrated the traits of Planners. These work styles align with the expectations and key drivers of performance in many of today’s leaner, more streamlined organisations, therefore they are a necessity. Easily recognisable for their abilities, prioritizers and planners are usually the most likely to get promoted.
Only 19% of those assessed turned out to be Arrangers, whilst 18% demonstrated Visualizer tendencies. However, companies need people of all types. Due to this Arrangers and Visualizers also have their importance. Think about it, if companies are unable to connect with their customers offering break through products and services, no amount of prioritizing and planning will ensure the long term viability of the company.
Managers and supervisors as leaders need to know and understand their own work style and those of their employees ensuring a balance of thinking and approaches. Realistically, most organisations probably won’t have a team in which Prioritizers, Planners, Arrangers, and Visualizers are all equally represented. However, new people or outside experts can be brought in to bridge the gaps. In preparation for this it is important to find out what work styles the workers in the workplace presently exhibit. By giving each person a new project to work on, their work style can be determined. On receiving information about the new task each staff member will have questions of their own pertaining to it. The questions asked will give some indication as to what category they fall under.
Faced with a new project, for example, Prioritizers would ask:
- What is the goal?
- What is the deadline?
- What data or facts are necessary?
- What metrics will be used to evaluate success?
Planners would ask:
- How will the project be delivered?
- How will the project be completed? Is a project plan necessary?
- How will information about the project be communicated?
Arrangers would ask:
- Who are the project stakeholders?
- Who else needs to be involved?
- Who can support you in achieving the goals of the project?
Visualizers would ask:
- What are the gaps between where you are today and where you want to be at the end of the project?
- Why does this project matter to the team and the organization?
- What barriers can you foresee that will need to be addressed as you implement this project?
If you’re leading a team that is heavily weighted toward one or two work styles, recognize the value in rebalancing it. Work style diversity is the making of a productive team that will focus on all aspects – the big picture and the details, ideas and execution and purpose and profits.
In March 2015, the Government approved a Public-Private Partnership (PPP) Policy framework for Saint Lucia. The Policy which details the criteria for engaging in PPPs will provide an alternative source of funding to the Government in meeting the infrastructure and public sector needs while at the same time ensuring fiscal and debt sustainability.
A Public-Private Partnership (PPP) is defined as a “long term contract between a private party and a Government agency, for providing or managing a public asset and associated services, in which the private party bears significant risk and management responsibility.
PPPs can help increase the availability, quality and resilience of infrastructure and other public assets, and associated services while reducing fiscal commitment and risk involved in providing them. PPPs can help mobilize additional funding and financing sources for infrastructure and public services. In addition to providing value for money, PPPs provide for adequate maintenance funding, innovation and efficiency, focus on services delivery and accountability.
With the approval of the Policy, the Government will now be able to engage in long term contractual relationships with private sector entities which will introduce resources and expertise into the delivery of public assets and services.
Assistance for the Policy was provided by the World Bank and consultations were held with both the private and public sectors in its formulation. This initiative was coordinated by the National Competitiveness and Productivity Council (NCPC) in collaboration with the Department of Finance.
The Policy has several objectives as follows:
- providing value for money – PPPs will be structured to achieve the optimal combinations of benefits and costs to the Government and users;
- fiscal responsibility where the impact of PPP projects is well understood, expected costs are affordable and the level of fiscal risk is acceptable;
- transparency and probity in how PPPs are identified, developed, procured and managed;
- environmental and social sustainable impacts of PPP projects will be carefully assessed and managed appropriately; and
- partnership and inclusiveness where PPPs meet and balance the objects of all interested parties – the government agency and its private sector partner, end users, employees and other stakeholders. It is expected the PPPs will be managed through a spirit of partnership and cooperation to achieve common goals of improved infrastructure.
The PPP Policy sets out the following:
- The definition of PPP and the essential features of PPP contracts;
- The objectives and scope of the PPP programme, in the context of Saint Lucia’s developmental objectives, and the specific objectives of this PPP policy;
- Processes by which PPP projects will be identified, developed, procured and managed – including how the Government will treat unsolicited proposals;
- Institutional responsibilities for the PPP Programme, and for developing, implementing, and approving PPP projects;
- Key commercial principles by which PPP contracts will be structured;
- The right approach to managing the fiscal implications of PPP projects
- Mechanisms for ensuring transparency and accountability in the PPP Programme.
The work of the PPP focal team will be strengthen by technical support through the Caribbean Development Bank.
Competitiveness refers to is the ability of a country to export goods and services, while increasing the incomes of its citizens. Therefore, competitiveness focuses on developing optimum conditions in the country to promote economic growth. In turn, these conditions would be ideal for producing quality exports of goods and services that create economic growth through job creation, increased foreign exchange, the creation of new businesses, increased sales for domestic businesses etc.
A country should focus on its competitiveness in order to survive both in the domestic and international arena. It is critical that policymakers focus on increasing Saint Lucia’s competitiveness as the country has experienced consecutive years of negative growth and high rates of unemployment. It is therefore important to learn important lessons from our neighbours that have attempted to a certain extent to increase their levels of competitiveness. These lessons can be tweaked to suit the local Saint Lucian economy.
The Global Competitiveness Report prepared by World Economic Forum (WEF) annually measures the level of competitiveness of 144 countries by focusing on the pillars which are crucial in achieving national competitiveness. The 2014-2015 WEF Competitiveness Report ranks Barbados (55), Trinidad and Tobago (86) and Jamaica (89) as the top Caribbean countries on the list. These countries continue to implement a number of reforms to increase the competitiveness of their economies. While Saint Lucia is not included in this ranking, we can learn from some of the reforms undertaken by these economies to improve Saint Lucia’s economic standing in the global and regional market.
Barbados has scored fairly well in terms of having a fairly skilled labour force due to a high-quality education system and high enrolment rates in secondary and tertiary education. It also has solid infrastructure and generally well-functioning institutions.
Currently, Barbados is in the process of implementing a Competitiveness Program which seeks to address some of the key areas that have constrained the improvement in the competitiveness profile of Barbados over the years. The program consists of several sub components that are currently being implemented. One of the projects that have made significant progress is the establishment of the Electronic Single Window. This system will allow traders to submit all required documents through a single electronic gateway, instead of submitting the same information numerous times to different government entities.
Although Trinidad has implemented a number of reforms aimed at enhancing its competitiveness. One project that is on-going which can be tweaked to suit Saint Lucia‘s case is a Foresight and Innovation Network. This project involves the development of an online social network to engage and connect champions of innovation, critical thinking, creativity and entrepreneurship in Trinidad. The project seeks to build a new generation of people with the right attitudes and mind set to build a competitive economy. The results of the program so far are as follows:
- Eleven business investment projects have been supported by this project.
- Youth between the ages of 15-18 years have received training in developing their critical thinking skills.
- An Entrepreneurship and Innovation Club was established with over 1,320 members.
- Several networking sessions for entrepreneurs have been organised.
The Government of Jamaica has focused on developing the competitiveness of its people through a number of initiatives aimed at helping students become problem solvers and innovators. Some of the initiatives launched by the education ministry include: Jamaica Tablet Program, Start –up Weekend Jamaica, Digital Jam Apps Competition and Kingstoon Animation Festival. As such, a brainchild developed by two students is the AgroCentral app. This app minimizes produce waste and supports food security.
Local farmers who cultivate top-quality produce often have a hard time selling their entire crop to the market and have to deal with spoilage. To solve this, the app serves as the first ever digital clearing house in Jamaica. It links hotels and restaurants directly with small farmers. Therefore, clients are able to identify and purchase large quantities of produce. The young entrepreneurs plan to launch this app outside of Jamaica.
The Government of Saint Lucia established the National Competitiveness & Productivity Council (NCPC) to advocate and monitor actions that affect Saint Lucia’s competitiveness. One of the first competitiveness projects spearheaded by the NCPC is the establishment of a Commercial Court. The Commercial Court is expected to deliver an expeditious and cost effective mode of resolving disputes that directly affect the commercial and financial sector in Saint Lucia. The NCPC intends to work with agencies both in the public and private domain to advocate on projects that would enhance the country’s competitiveness.