Way out!

Businesses need to innovate and integrate, say officials

Barbados is among countries in the region that appear to be stuck in a “middle income trap”.

And to get out of it, Dean of the Faculty of Social Sciences at the University of the West Indies Cave Hill Campus Dr Justin Robinson suggests that businesses need to take the lead in innovation.

“Generally, when a country goes from low income to middle income then you would think high income will follow, but there are a fairly large number of countries that tend to get stuck in what we call this middle-income trap, and I think the leading economies in the Caribbean, like Barbados, Trinidad and the Bahamas fall into that zone,” Robinson said.

Dean of the Faculty of Social Sciences at UWI, Cave Hill, Dr Justin Robinson

He also pointed out that these three economies had all lost their investment grade status and were struggling to achieve economic growth.

“In this case, you really need to develop world class firms that are leaders in particular areas, which calls for a lot of innovation, investment in human capital, and research, and our economies have not been able to do that at all well,” he told participants at a two-day conference entitled, Navigating a Path to Growth, hosted by the Cave Hill School of Business and Management.

The UWI official further argued that one of the main impediments to growth was a prevailing organizational culture, which “focuses on compliance and relationships, as distinct from a performance culture where you are setting clear goals and objectives and you’re assessing employees and managers on their ability to attain those goals.

“In an organization with a compliance culture you focus on doing things right when they should be focused on doing the right thing,” he said.

“This may involve breaking the rules and destroying old relationships,” he added.

And while suggesting that Government has a role to play in creating the right environment, he stressed that the “level of innovation, and rapid response, lies with the organizations”.

In his presentation, Professor for Global Strategy at the Ivey Business School in Canada Dr Andreas Schotter argued that Caribbean countries would be stronger on the global level if they integrated at the business level.

“One of the major factors driving investment is that companies are going into countries where they have already established connections. For example, while General Motors recently divested from India, Hyundai, Honda and Volkswagen are growing in that market because they are using it as a hub.

“I held a discussion in Panama about using that country as a hub for Latin America, and I believe that same strategy can work in the Caribbean as well,” he said.

The two-day conference at the Barbados Hilton is also sponsored by Price Waterhouse Coopers, Republic Bank and Incus Services.

11 Responses to Way out!

  1. jennifer June 26, 2017 at 11:36 pm

    U pure breds are something else. For years U planted pond grass in the same old beds among the luv vine cutting off the growth and expect to reap butter beans. come on, think nah.

    Reply
    • Donild Trimp June 27, 2017 at 9:06 am

      @jennifer – you were missing for a while.

      Thought you got cold feet and was hiding from your stalker Peter.

      Watch for him coming in like an attack dog soon.

      Luv yuh style of writing. It is a gift. Makes one think outside the box.

      Reply
      • Jennifer June 27, 2017 at 10:09 am

        @Donild – hahahahahaaa, you are so funny. I was away on an assignment, had little time to write. Peter does his job and I do mine. I guess some things never change, no matter how much time has gone by.

        Reply
  2. Freeagent June 27, 2017 at 7:25 am

    Our way out of the current economic situation is:

    1. Business owners observe that Barbados is for Barbadians and not for political parties.

    2. Government employ innovative managers and not persons with the most years in the organization. That those managers/supervisors do the job for which they are being paid to do. I wonder if there are supervisors in the civil/public service who oversee the activities in their respective departments.

    3. The unproductive workers be terminated and employ persons who are willing to give an honest day’s work for their salaries/wages.

    Reply
  3. Alex Alleyne June 27, 2017 at 9:43 am

    @Freeagent , your #3 is spot on, Just pay a visit to the GPO in Bridgetown and try to buy a stamp and see how long it takes.

    Reply
    • Jennifer June 27, 2017 at 10:30 am

      @Alex – I see what you mean. The problem is that these in charge lot keep copying the devices which further OPPRESS this people, but the things which can give relief they blatantly refuse to copy and implement. Why don’t they buy a stamp machine where one can buy their stamps>>>>>>>>>>>> which will result in an in and out method, and no time wasting. But they will implement no plastic bags strategy causing the people to be f*** over and over again by the merchants. Mind you in the said countries they copy from, give bags FREE in stores once clothing, shoes etc is bought. A bag for life was given to supermarket shoppers and then was later changed and sold for 5 pence and on the returning of the old bag a new one is given free. The said white people who encouraging all of this, know all of these things from their mother countries which keeps more money in their pockets. The environment is the least of their concerns. The abolition of the one cent is another such thing being in favor of the merchant 98% of the time, mind you the origin of this theory is still carrying its penny. I pray a day when this people will rise up and do some thing about their situation. 1+1=11 in this case. But I keep raising the question who really own Barbados??? surely not blacks.

      Reply
  4. Milli Watt June 27, 2017 at 1:14 pm

    business class lead innovation stupse that would mean you would have to think and wait for it………………………WORK which will not happen with this bunch a hand to mout PARASITES!

    Reply
    • jennifer June 27, 2017 at 4:04 pm

      Milli – talk ya talk, that is the thing, they have EVOLVED into cleaver, targeted parasites and guess who is dependent on them and for dinner??????

      Reply
  5. jrsmith June 27, 2017 at 1:53 pm

    @, Hun, hail, hail missed you , nice to have you back,………
    ************************************************
    These people are the same experts , when barbados was punching above its weigh , to endorsed each other telling bajans how middle class they have become and people had to prove, this by trying hard to keep up with the Joneses ……… come what may ,driving the same middle class stupidness which , has become very financially disastrous in the (UK) and these people only being saved by the 2-4 credit cards in they possession…………………….

    @, Freeagent, hail , hail , your (7.25 ) good shot , but I always say , barbados is there for the taking but not by bajans , this is proving itself time and time again, as the medium seize corporates keep using barbados as a guinea pig….. or stepping stone for the region………………………………..
    @, Jennifer , hail, hail , second time ,, ?????????????? who owns Barbados , well , 1 year ago , in one of our (UK) papers it said , 68% of the world’s wealth was in the hands of (1 London red bus ) and a half of people….. Barbados lets try the 1% half of them foreigners the balance the unseen … ( 1 ZR van full of people)….
    Well I tried …..
    Find the establishment , which is not political and you are there….

    Reply
    • jennifer June 27, 2017 at 4:00 pm

      @jrsmith – thanks hun. Then we will remain In serious trouble. All of this middle income set up was blindly orchestrated by those PLACED in their respective positions and given keys. This Is why we get the same OLD MANUFACTURERS AND SUPPLIERS. And ALL of this middle rubbish starts within the schools. And this Is exactly where this lot stays in the middle NEVER materializing above that station.

      Reply
  6. Belfast June 27, 2017 at 9:37 pm

    Innovation is a foreign word in the Caribbean. Look at we lil children, and some adults, buying up the latest toy-Fidget Spinners We have stymied the creativity of a couple of our generations.It’s easier to buy junk, in all forms.

    Reply

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