Too many knee-jerk decisions, laments Bynoe
A prominent local businessman says he fears that too many knee-jerk decisions are being made in Barbados.
The director of A-One Supermarket Ltd Andrew Bynoe voiced this concern today, during the launch of the University of the West Indies Project Award, being sponsored by his company.
It is being proposed that the winning research paper – which will be based on economic competitiveness – be used to influence decision making in the country.
“This can make a big difference in the way things are done in this country. And if out of this people can derive information that is accurate, then I think that decisions would be made from a better basis. I fear too often in this country decisions are made by knee-jerk.
“We listen to the call-in programme and that becomes fact without any basis. Too many decisions are made in this light and it is because of that that we would like to change this way of doing business and here is our way of attempting to inject objectivity in the way business is done in this country,” he said.
Bynoe said that the subject for the competition, which coincides with the supermarket’s 34th anniversary celebration stemmed from a statement by the Central Bank of Barbados issued on January 2015.
“The statement led us to ask the question, ‘what is the current empirical evidence saying?’
“It is therefore the intention to critically examine the noted seven pillars: our institutions, infrastructure, health standards, educational standards, efficiency of the labour market, development of the financial market and technological readiness,” he said.
Cave Hill’s Deputy Principal Professor Pedro Welch welcomed the competition, which is open to graduate students and offers a $5,000 award.
Welch said that at a time when Government had cut its funding of tuition fees for nationals, partnerships with the private sector were needed.