Planning + Advocacy + Reform
Planning for your taxes
Advocacy for Jamaica’s creative industries 1
Development
True cost of development
eKatalyxt | Oct-Nov 2014
Table of C o n t e n t s When will women find themselves influencing decisions in the boardroom? Wimsome Minott
06
One one coco full basket Amanda Brooks Planning for your taxes Contributed by Bank of Nova Scotia
Advocacy for Jamaica’s creative industries Contributed by EXIM Bank The entrepreneurial experience: from entrepreneur to entrepreneurial manager Derefe Chevannes True Costs of Development: Rebranding the Goat Islands Stefanie Thomas Fast tracking structural reforms for growth Ralston Hyman
09
10 12 16 18 22
Intrapreneurship - Act like an owner Godfrey Stewart
eKatalyxt | Oct-Nov 2014
04
2
Te a m M e s s age As 2014 winds down, Katalyxt team members remain hopeful that together as Jamaicans: academics, entrepreneurs, and policy makers, we will continue influencing the landscape positively. Gifts that have multiplied into success, can inspire and shape the next generation. On the 4th of October 2014, we launched the Infokat as an ongoing contribution to the transfer of information and knowledge. Please visit our portal at www. infokat.net. The Infokat is a web portal with frequently asked business questions, answered by experts. The Infokat also shines a spotlight on successful entrepreneurs, provides monthly foreign exchange rates, loan rates, and news. The Infokat also links you to our Youtube short videos. Why are we hopeful? We believe that in the best of times and the worst of times, persons will innovate and bring radical change that can impact positively the fortunes of many. We will continue to encourage and share our talents because we believe in our people.
3
eKatalyxt | Oct-Nov 2014
?
WHEN WILL WOMEN FIND THEMSELVES INFLUENCING DECISIONS IN THE BOARDROOM?
By: Wimsome Minott
eKatalyxt | Oct-Nov 2014
4
I
n the boardroom it is normal to find a token woman at the table with a preponderance of male “junkie” counterparts. Her influence on the decisions made at the board meetings is doubtful. In many instances decisions are taken before the meeting, at a pre-board meeting among a few of the male drivers. What happens at the formal board meeting is little more than a staged performance of an earlier rehearsal, akin to a truck running over a semi-comatose group. The staging is no less rigorous than should be expected. There is usually a proposer, and from the same side a weak rebuttal, just enough to sideline the main problem. Sometimes heated discussions ensue before the rebutter concedes. No one outside the group of orchestrators is aware that an un-judicious act was perpetrated in their midst, unless of course you are a student of people and psychology. To understand the psychology of what transpires in such meetings, one must study the players and their objectives. Are they trying to ensure that stakeholders are best served? Are they focused on generating profit for the shareholders? Are they predominantly directors divorced from the shareholding, with some amount of resentment towards members who are the main beneficiaries of their hard work through dividends?
“
Most successful women do not buy into group think
”
With good reason, the text books caution that a dominant CEO can wreak havoc in a company if he is allowed free reign. Why is this so? The CEO’s objectives and the objectives of the members are often not one and the same. There may be a crisis when the CEO lacks integrity. How can more women in the boardroom help to counter the male herding instinct? Research has shown that most successful women do not buy into “group think”. They often are not willing to be a part of the boys’ club or the girls’ club. Because of their natural God-given talent to take care of the family, this factor is often transferred to stakeholders. This makes for good governance, as women will look more passionately at instances when grave injustices are to be meted out.
“
They of ten are not willing to be a part of the boys’ club
”
What I have witnessed in the boardroom is that the herd follows 5
without opposition. Where there is opposition, the herd is trained to attack the “disloyal member” and make his or her life so difficult, that the member is often ineffective. This does not happen because individuals in the herd have no opinions; rather, it happens because they choose to leave opposition, debate, and sometimes good sense at the door before they enter the boardroom. They enter instead with a back-slapping, allis-well-with-the- world mind set. This often has material rewards, or in some instances a shared bottle of whisky is enough to drown good conscience and obliterate ethics. I have seen a few instances where women adopt roles prescribed by men, for men. They normally fail miserably because nobody can do a man better than a man. Problems in boardrooms that are the result of “heard-think” will persist until: our women gain their fair share of economic power; until men can see women other than ‘boobs and hips and little brain.’ They have yet to recognize women as equals. For women to become effective leaders they have to become innovators, game changers, and entrepreneurial. It is from this group that there will come a cadre of women capable of impacting a long established culture of back-slapping, rum drinking and group-think in boardrooms. eKatalyxt | Oct-Nov 2014
One e n O Coco Full Basket By: Amanda Brooks
Interview with HEART Trust/NTA’s Cheryll Stewart What is the mandate of the Entrepreneurial Skills Development Unit at the HEART Trust/NTA? The Entrepreneurial Skills Development Unit operates within the business development and workforce solutions department of the HEART Trust/NTA. This department offers business consultancy and support services for entrepreneurs. The basic aim of the unit is to develop an entrepreneurial culture with a view to enhancing their delivery system. HEART Trust/NTA is a national training agency: “training is at the forefront of what we do.” What is the National Business Incubation Association? The National Business Incubation Association (NBIA) is an international organization that supports business development across the world. In February and October of each year, the NBIA hosts sessions. These sessions offer training to professionals in various areas, including: technology, facilities management, and incubator management. Together they support the development of SMEs globally. The association hosts an annual conference which allows professionals servicing incubators to come together. Approximately 550 industry professionals attended the last conference. The primary aims were building competencies, assessing perspectives and establishing areas of strengths among industry players.
eKatalyxt | Oct-Nov 2014
6
Cheryll Stewart is adamant that Caribbean Entrepreneurs must network across Caribbean borders. A collaborative framework makes it easier to obtain support – the concept is borderless and professionals are willing to share resources.
Is there a take-away from the conference that is easily applicable to the Jamaican context? There are updated tools used globally by start-ups that can be applied to businesses in Jamaica. These include the Lean Start-Up Model, the Business Model Canvas, and Growth Rate Model. MSME’s in Jamaica can benefit from any of these tools, whether they are used separately or in combination. The said models aid three critical stages in business start-up, namely: getting started, launching and delivering the expected goods or services. To what extent were discussions of technology included in the NBIA conference? Technology is at the forefront of the NBIA development schedule. The NBIA examined two perspectives, namely: 1) developing the technology solutions for incubator operations; 2) facilitating development of technology companies. The 2014 conference featured more than 10 technology-focussed sessions. Does the global incubation community see the Caribbean as a significant player? Caribbean Incubation’ was included as a discussion point for the first time in the 2014 conference in New Orleans. Several interested parties and stakeholders expressed increased interest in Caribbean products/services via this marketplace. To what extent is private-public sector partnership critical to growth of the SME sector? The Jamaican Government facilitates the growth of SME’s through regulations and policies which may be deemed critical to growth. The private sector facilitates entrepreneurial development. The collaborative efforts of public-private partnerships are enabling and should foster growth at a faster rate. Is there room for improvement in Jamaica’s incubator landscape? There needs to be more collaboration among professionals in the industry. No one incubator has all the answers to the needs of the entrepreneurs. Incubators will benefit from the network and expertise shared among stakeholders. The free movement of businesses and people under the Caribbean Single Market Economy (CSME) is a critical enabler; for example, if a client is in Jamaica and needs to operate in St. Kitts or Trinidad, our partners/affiliates should be able to facilitate possibility.
7
eKatalyxt | Oct-Nov 2014
eKatalyxt | Oct-Nov 2014
8
Planning For Your Taxes Founding father of the United States, Benjamin Franklin is reported as saying that “The only things certain in life are death and taxes.” An unknown person quipped in response that, “Death and taxes may be certain, but we don’t have to die every year.” If you’re running a business in Jamaica, you will definitely have to face the reality of our taxation system. While there are some micro entities that may try to avoid the tax radar, once you intend to grow your enterprise, you must make preparations to deal with the tax authorities. Like any other area of your operation, it takes careful planning to be successful with managing your tax obligations. Let’s look at some simple tips that can help you to pay your taxes without stress.
Organise your accounts Utilise a system to document your accounting information, not just for dealing with everyday tasks, but also for determining your tax obligations. If your operation is very small, you may not need a formal package such as Quick Books; simple Excel spreadsheets can also be useful.
deductions into a separate account until it’s time to make payment.
Keep track of costs You need to make special effort to store all your receipts for business expenses and costs that are allowable for tax purposes. Without the physical proof that you made these payments for the business, you will not be able to make a claim when reporting your taxes. Ensure accuracy of data Jamaica’s tax system requires self-employed individuals and businesses to self-report, so the onus is on you to ensure that your accounting information is done correctly. You can hire a part-time accountant to manage your books if you don’t feel capable of dealing with the figures. Put aside tax dollars Try not to co-mingle funds that belong to the business with those that should be paid over to the government for taxes. One option is to put aside the money collected for GCT or your employee statutory
9
Save for income tax Whether you pay income taxes as a self-employed individual or for your company, it is smart to keep a running track of your obligations. Allocate some of your monthly profit towards paying annual income taxes, so that you don’t have to find a large lump sum to remit at one time. Be compliant Dealing with the tax authorities is hassle-free once you are timely and honest with your reporting; missing deadlines and submitting inaccurate information will cause trouble in the long run. If you have challenges in meeting your payments, make a payment plan with the compliance department.
eKatalyxt | Oct-Nov 2014
EXIM Bank’s Advocacy for Jamaica’s Creative Industries Jamaica’s creative industries represent a reservoir of untapped potential that needs to be fully exploited and developed as an important avenue that can drive Jamaica’s export economy, contribute to job creation and generate additional foreign exchange revenues. To realize this goal, it must now become an imperative on the part of policy makers to fast-track the monetization/capitalization of Intellectual Property (IP) to level the playing field for IP to be used as a bankable asset to propel growth and development in the creative industries.
eKatalyxt | Oct-Nov 2014
EXIM Bank has been one of the strongest proponents for the development and structuring of Jamaica’s rich creative economy as a space where innovators can realize the true benefits from their creations and use their IP portfolio to raise capital or access financing. The Bank stands behind its conviction that the creative industries, as a non-traditional sector, has the strongest potential to contribute to Jamaica’s economic well being, if supported and exploited in the appropriate way. The view put forward by international industry proponents that… “human
10
creativity is the ultimate economic resource” and that, “The industries of the 21st century will depend increasingly on the generation of knowledge through creativity and innovation”, are views strongly espoused by the EXIM Bank. It is with this vision and understanding that the Bank continues to support the Jamaica Intellectual Property Office (JIPO) and collaboratively, the umbrella organization for IP, the World Intellectual Property Organization (WIPO), in their quest to move the local industry forward. This has led to the
Bank playing a major role as a leading sponsor of the recently concluded WIPO/JIPO Regional Conference on Intellectual Property & Creative Industries, which is expected to serve as a catalyst for this development to take place. Additionally, the Bank also supported the inaugural staging of the Authentic Jamaican Design Competition by making available concessionary loans to the winning innovators. Winners in each of the four categories of the craft competition were given the opportunity to access loans to a maximum amount of J$2.0 million at a reduced interest rate of 9.5% to be repayable over a period of 18 months. Being cognizant of the tremendous potential of this industry
as a significant growth stream for Jamaica’s export economy, the Bank has been steadfastly working to develop a policy framework to assist more members operating in the creative industries. This has led to a deepening of the Bank’s engagement with JIPO and other stakeholders to advance the programme of developing a system of valuing IP. This is expected to pave the way for IP to be used as collateral to facilitate the financing of local creators and other members in the industry. In commenting on this development, Lisa Bell said, “This is an important requirement to moving the industry forward as we recognize that traditional collateral may not be available and a very clear appreciation and understanding of the value
11
of our client’s Intellectual Property, be it, Brand Name, Logo, Music Production, Art, Books, Software, Inventions et al, is critical to leveling the playing field”. She further reiterated that EXIM has always supported and facilitated the development of Jamaica’s creative industries as it offers great potential for Jamaica’s economic development, particularly because of our innate talent, our competitive advantage and the strengths of brand Jamaica. Undoubtedly, the creative industries are a highly prospective sector that can generate significant wealth and export earnings for Jamaica once the appropriate environment is created to shape, direct and protect these industries.
eKatalyxt | Oct-Nov 2014
The
Entrepreneurial Experience
From Entrepreneur to Entrepreneurial Manager By: Derefe Chevannes
R
obert Johnson is CEO of Muroc Systems Inc, and the founder of TeamSupport in 2008. Robert hails from Texas, United States. He describes his time as an entrepreneur as “an exciting time, but a challenging and scary time as well.” The journey is akin to an emotional rollercoaster, which he describes as the “waves of entrepreneurship, one day you are up and the next you’re down”. Robert became a CEO of Sundance Digital at the age of 25. The previous CEO resigned.
eKatalyxt | Oct-Nov 2014
12
Changing Fortunes of an Entrepreneur When he took the helm, the prognosis wasn’t good, so much so he had to fire fifty percent of the staff in a bid to restructure the business. Within four years, Johnson noted that the company reported appreciable gains and the shareholders received an offer to purchase their shares. The offer, like many a promise was not executed. Following this setback, the business continued to grow. Two years following the earlier failed offer, a new offer was received from a team wanting to acquire the business. This time, the company was sold at a profit.
“The waves of entrepreneurship, one day you are up and the next you’re down”
Robert left the oil business, and the company was later sold to a public company. Robert continued to build TeamSupport and is currently fundraising through investors. In a couple of years (3-4), Johnson hopes to sell his company to make a profit. Robert’s story is about parlaying changing fortunes into permanent successes. It is also a story about perseverance and business acumen: knowing where to invest next, and when to exit.
Robert’s fortunes increased when he bought land at a cheap price, and discovered that the land possessed oil, unbeknownst to the previous owner. The business boomed as the price of oil skyrocketed from an average of $60-$70 per barrel to $141 dollars per barrel. Robert was making “hefty profits”, which he used to fund a non-profitable (at the time) start-up, TeamSupport. The profits of his foray into the oil business saw mixed fortunes, as the price of oil later declined drastically to approximately $40 a barrel. Profits quickly turned into losses.
13
eKatalyxt | Oct-Nov 2014
Pathway to Success for an Entrepreneurial Manager
D
ouglas Orane, a Jamaican entrepreneur and former CEO and Chairman of GraceKennedy Limited, in an interview with Winsome Minott, discussed factors that led to his success. He cited family values: trust, respect and caring about people. Orane’s father who was an entrepreneur, manufactured doors and his business offered other services to the construction industry. ‘Orane Doors’ had its fair share of difficulties, particularly concerning the collection of receivables, which caused the company to become insolvent. The perpetual outstanding debtor balances caused havoc in his parent’s business. This made Orane sensitive to receivables, so much so he insisted that all receivables must be collected. He is known for his stridency with regards to outstanding receivables and this practice has stood him in good stead as the leader of GraceKennedy. This allowed him to successfully manage GraceKennedy through years of growth and profitability. Orane is often described as a goal oriented visionary. He highlighted the need for courage to pursue goals even in the face of tremendous difficulties. Discipline was also crucial - the discipline to learn and succeed. Orane was voracious for knowledge, always on the lookout for opportunities. Networking and forging valuable professional partnerships were also important to his success as an entrepreneurial manager. In addition, good money management and tertiary education were all contributive factors for Orane’s success.
Company
Type
Maturity
led to sucessFamily values: trust, respect and caring about people”
Exit Strategy
Sundance Digital Start-up
High Risk
No
Sold for Profit
TeamSupport
Start-up
High Risk
Yes
Orane Doors
Start-up
High Risk
Yes
To be sold for profit Eventually sold for profit
y t i s r t e v ad dien g in gre l m o e in ria c r e ctiv neu v O e a pre e h is t entr ccess to su
“
Risk
“Factors that
”
eKatalyxt | Oct-Nov 2014
Though fundamentally different in their paths to success, both entrepreneurs’ journeys highlighted one constant pattern: the difficulties that come with entrepreneurship. Robert sought to keep afloat after the deal to purchase his first business went sour and years later when he was hemorrhaging profits due to the mercurial nature of oil sale. Orane’s intervention in his parent’s debt-riddled business proved a difficult task. Yet, a common thread also ties these stories together; overcoming adversity is the active ingredient to entrepreneurial success.
14
15
eKatalyxt | Oct-Nov 2014
True Costs of Development By: Stefanie Thomas
Rebranding The Goat Islands?
1,200 acres of land along the recently completed Mount Rosser North-South highway now belongs to the developers, China Harbour Engineering Company (CHEC). By all indications, the deepening trade partnership with the Chinese Government and related interest groups is moving steadily ahead. A sticking point in the discussions on the costs of the development posited by proponents of Chinese-led development is the determination of the actual cost of transforming the Goat Islands, a small archipelago just off the coast of St. Catherine, into one of the three strategic points in a larger “logistics hub”. In a recent press release, representatives of the IMF said that the first phase of the Goat Island development should be com-
eKatalyxt | Oct-Nov 2014
pleted by the end of 2016. The issue of the Goat islands, albeit a small piece of the logistics puzzle, has been the cornerstone of the discussions about the logistics hub. At the 2014 Katalyxt business development seminar, the topic of logistics - specifically “Beyond Logistics: Skills Training for Growth for and Beyond the Logistics Hub” -- sparked an interesting mix of discussions and information sharing and highlighted some of the critical issues to be overcome particularly as it related to Goat Islands. The Jamaican population’s general malaise about Goat Islands opens a search for the root of this discontentment and whether our people can move past the discontent to truly embrace the project’s potential benefits.
16
Dr. Fritz Pinnock, Executive Director, Caribbean Maritime Institute of Jamaica, in his presentation, quickly referenced Goat Islands and the need to embrace its advantages. In his presentation, he presented a case study of the massive changes that the United Kingdom had undergone in an effort to effectively manage the transition of its own ports with a vision of becoming a cutting edge player in the distribution chains within Europe. The audience, mainly consisting of Small and Medium Sized business owners were engaged and more willing to discuss from a positive point of view than the general population.
“
Dr. Fritz Pinnock, quickly referenced Goat Islands and the need to embrace its advantages
”
The UK Government sought to cut costs, increase efficiency, and make distribution simpler while increasing environmental sustainability. London had to contend with dredging the River Thames which was a major ecological concern as it affected a major estuary. Based on the case study provided, environmental agencies worked alongside the government and integrated public consultation sessions to involve a wide cross section of agents in the process. The process saw the relocation of an abundance of wildlife including reptiles (such as newts, lizards, slow-worms and adders) and is one of the most extensive environmental mitigation exercises ever recorded.
“
Whether the appropriate mitigation strategies will be adhered to in an effort to save our own territory and wildlife is an issue
”
17
The ecological concern is one of the major areas of contention in the argument over the Goat Islands, and whether the appropriate mitigation strategies will be adhered to in an effort to save our own territory and wildlife is an issue. Dr. Pinnock sees this as an opportunity rather than a challenge. He said “Right now the fish stock in Goat Islands has depleted. It is an opportunity for us to create an industry that doesn’t exist.” He further associated the land loss in Haiti to underdevelopment of resources in that country and warned that if development was not properly coordinated then we could lose much of our natural resources. Dr. Pinnock was adamant that “without development we are damaging the future.” The case study of the UK explained that by the end of 2013 over 200 new “giants of the seas” carrying 1800 containers will be in service, and they will need deeper waters, larger cranes, and higher productivity. Can we therefore not use our resources to carefully craft an appropriate response to this increased demand for a functional logistics hub in our region?
“
Just keep swimming
”
It is with great hesitation that I embrace either side of the quandary that Jamaica’s development now faces. Perhaps the words “just keep swimming” ascribed to Dory the fish, who suffered from short term memory loss in the animated film Finding Nemo can be our guide. Swimming in this case represents working with what we have to create a better future. Suitable mitigation strategies for our wildlife and the vulnerable structures of the Goat islands are a priority. Creating robust mechanisms underpinned by strong governance structures entails participation from various interest groups who are truly interested in the sustainable development of our island Jamaica. eKatalyxt | Oct-Nov 2014
Fast Tracking Structural Reforms For Growth
By: Ralston Hyman eKatalyxt | Oct-Nov 2014
18
J
amaica will have to take steps to fast track the structural reforms related to a reduction in bureaucratic red tape, public sector transformation and energy as well as to speedily implement the mega projects related to the Logistics Hub in order to accelerate growth and employment creation in a slowing global economy. Both the World Bank and the International Monetary Fund (IMF) have been projecting slower global
economic growth on the assumption that the Washington-based Federal Reserve Board (Fed) could raise its benchmark federal funds rate before the middle of 2015, triggering a run on emerging markets and higher interest rates. The multilateral agencies also believe that the deliberate strategies by Zhou Xiachuan led the Peoples Bank of China (PBC) to restructure the Chinese economy from export led growth to domestic consumption, leading to a deep slowdown in the world’s fastest growing economy.
China
Advanced Econ
Emerging mkts.
LAC
Sub Saharan Af
7.40
2.20
4.90
2.50
5.40
The Chinese economy is projected to grow at 7.4 per cent this year, 7.5 per cent next year and by 7.6 per cent in 2016. Advanced economies such as the United States, Japan, Germany, France, Canada and the United Kingdom are projected to grow at 2.2 per cent this year and by 2.3 per cent next year. Meanwhile, emerging markets are expected to grow by 4.9 per cent this year and by 5 per cent next year. Meanwhile, Latin America’s projected growth is 2.4 per cent and Sub-Saharan Africa is expected to grow 5.4 per cent. Jamaica is a small open economy in this large global economy, therefore a slower global economy could have a deleterious impact on the Jamaican economy at a first glance. However, a deeper analysis of the situation will reveal that despite the slower and choppy global economic growth, there is still a very strong demand for the country’s food: ginger, pimento, cocoa, scotch bonnet peppers, mangoes, papayas, honey and spices globally. There is also still strong and growing demand for the country’s arts, craft, music, entertainment, sports, nutraceuticals, creative products and attractions globally.
19
eKatalyxt | Oct-Nov 2014
The country has however not been able to meet the demand for these goods and services in global markets despite the multiplicity of trade facilitating agreements such as the Caribbean Basin Initiative (CBI) with the USA, CARIBCAN with Canada and the Economic Partnership Agreement (EPA) with the European Union (EU). The country will therefore have to remove impediments and increase productivity and exports. If Jamaica wants to successfully complete the current IMF agreement and accelerate growth and employment creation these issues must be addressed. The structural benchmarks established under the programme in relation to the curtailment of time it takes the various public sector bodies to approve development plans must be successfully implemented. There is no time to spin, dip, or linger, if the country is to benefit from the increased global demand for “Brand Jamaica.”
“
Businesses must invest more in STEM
”
The stifling bureaucracy will also have to be transformed and the public sector must become a more effective, efficient and entrepreneurial unit. Additionally, energy costs will have to be dramatically reduced if the country is to successfully make this transition to a robust and sustained economic growth. Doing these things will be imperative in order to bring the debt to GDP ratio to the 126.5 per cent projected for when the programme ends in March of 2017 and to the internationally accepted norm of 6 per cent by 2020-2025. At the micro level, businesses must invest more in: science and technology, research & development, staff training, as well as in the development and the utilization of local raw materials in the production process for exports.
eKatalyxt | Oct-Nov 2014
20
21
eKatalyxt | Oct-Nov 2014
Intrapreneurship “Act like an Owner”
L
arge Organizations have continued to assess their leaders on how well they execute the leadership competences to meet Individual Performance Objectives that are tied to the Business Goals. These leadership competencies have been generally classified in three broad areas which are: 1. Achieving Results – Leaders are expected to employ a set of tools to drive results. These include plans for engaging employees and cascading understanding of the critical business needs throughout the organization. Visualization of these targets and others throughout the business and town halls are also powerful tools for communicating business results while the leader should demonstrate readiness to hold himself and all others accountable. All associates need to be able to know at any time whether their functional unit and the broader organization is achieving its goals (winning). 2.
Leading and Influencing
eKatalyxt | Oct-Nov 2014
Others – In general this classification assesses the leader’s ability to coach mentor and teach. Leaders are graded on the plans they execute including Development Plans, Succession Plans and Performance Improvement Plans for their reports. They routinely are expected to have oneon-one sessions and management reviews with their team members, and handle projects in teams that test influencing skills. Here the leader must draw on the shared values and Code of Business Conduct for the organization. 3. Understanding the Business and Market – Here the leader is expected to manipulate data and knowledge of the business and it’s processes to make sound business decisions. The three broad areas of leadership competencies above have not been sufficient for unit managers, expert in their use, to drive step change in performance. Indeed in an ever more complex business environment, expertise in the ap-
22
plication of leadership tools may stifle creativity and innovation so necessary for step change. To drive intrapreneurship in large organizations and to sustain improvement, a fourth competency has emerged which is “Act Like an Owner” Leaders who act as owners are able to overcome competing priorities, they must have the project management skills and intimate business knowledge to justify the focus for their functional area and take ownership for results. They must have the courage to say “NO” to the next great corporate initiative that does not meet that focus and can suck up resources and time. They must be smart and astute in deciding which battles are worth fighting and which choices may be career limiting and above all they must be relentless, persuasive and have integrity to stay the course. Finally they must constantly seek out and employ the best practices in their industry and simplify and adopt these practices for local use.
By: Godfrey Stewart
23
eKatalyxt | Oct-Nov 2014
PUBLISHED BY
www.katalyxt.info www.infokat.net Facebook.com/katalyxt Twitter@katalyxtja
Graphics Kayon Curvin
eKatalyxt | Oct-Nov 2014
24