Wealth Mag i23 by Wealth Magazine Ja #1 Business Publication

CONTENTS June - July 2014 Innovation 16

Developing A Personal Brand Is Worth The While

Changing How Business Is Done

How Important Is A Company’s Mission Statement?

Fx Trader’s ‘Market Me’ S.M.E Promotion Fx Trader Gives Business Owner $500,000 Worth Of Advertising

72 74

Jamaica And The IMF Vox Pop- How Do You Keep Your Business Relevant And Foster Growth During Tough Economic Times?

Health & Wellness

Technology 24

Coming 2014: Number Portability

Funny Business- How Humour Helps with Workplace Stress

Microsoft Jamaica Launches Office 365 Donation Program For Nonprofits

Workplace Harassment

Six Tech Savvy Gadgets For The Summer

Feature 32

Lawyered To Death

Peter’s Painting Passion

Life Of An Insurance Adviser: Aida Davis

Sagicor Group: Providing World-Class Customer Service

Finance

Lifestyle 82

March In Miami

Corporate Mingle

The BMW M235i Coupe Is Here!

Career 88

Behind The Desk- Ingrid Card Vice President, Group Marketing, Sagicor Group Jamaica

Is A Career In Animation Worth Pursuing?

JAMAICA BUSINESS DEVELOPMENT CORPORATION Small Business Exposition And Conference 2014

The Community Renewal Programme Advancing the Growth Strategy, Fostering Community Development through Public Private Partnerships

Using Strategic Marketing In A Competitive Economy

Corporate Click

Joan Ferreira-Dallas: Rising Above Poverty To Wealth

64 Jamaica, The Hub Of The Caribbean 66

10 Things To Know When Choosing A Marketing Research Company

Losers make promises they often break. Winners make commitments they always keep.

- George S. Patton

Promises Made. Promises Kept: Karen Bhoorasinghâ&#x20AC;&#x2122;s Lifelong Mission

COVER STORY

PAGE

PUBLISHERâ&#x20AC;&#x2122;S NOTE Garth Walker Managing Editor

In this issue we are proud to highlight the success of another stellar female in the business community; more so the insurance industry. Sadly, many people fail to fully understand or appreciate the value of insurance for not only their life but their property as well. Indeed, we are impressed with the many female leaders that have come to the fore in this under-appreciated industry. We take our hats off to Karen Bhoorasingh, whose dedication has significantly impacted the insurance business. We also continue our quest to inform, educate and inspire business owners by highlighting the stories of men and women, who through hard work, dedication and sometimes through difficulties have achieved their dreams and have made steady strides in their particular profession.

Leighton Davis Managing Editor

Business has come a far way over the last 50 years in Jamaica with women now the gatekeepers of corporate Jamaica as opposed to male dominated boardrooms. Wealth Magazine has always believed in publishing persons for their achievements rather than their gender. We are proud to feature on this cover another brilliant mind in Jamaica who runs one of Jamaica's largest corporations Guardian Life. On another note, business is ever-changing and evolving as technology and customer demands dictate the services and products we offer our clients. Let us all keep abreast of whatâ&#x20AC;&#x2122;s happening around us and place these changes into our businesses to keep us relevant and ahead of the curve. Until next issue...

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Publisher

Managing Editors

The Editor’s Survey Businesses operate in a world of risk. Families face considerable unemployment, fire, theft, natural disaster, health and mortality risks. Businesses and individuals need a safety net. That’s where this issue’s leading lady Karen Bhoorasingh comes in. Like many others in the insurance business, Karen is intent on keeping her promises to her clients; the promise to deliver on their claims in the face of adversity. We share with you her journey from a claims clerk to the president of Guardian General Insurance Jamaica Limited. This issue also features others who have done well in their careers. We hope you’ll find the articles from our reliable team of contributors inspiring and empowering. At Wealth Magazine, we’re always more than happy to provide tips and advice that can help you to keep your business afloat as well as to manage your financial risks. We appreciate your support and are so happy to have you as a reader.

Garth Walker Leighton Davis

Sales and Marketing Manager Simone Riley

Sales Executives Latoya Taylor Trilissa Johnson

Cover Photography Tricia Bent

Photography Tricia Bent

Cover Make-up Emily Newland

Cover Design

Denieze Anderson

Monique Grange Editor-in-chief @mogrange

Designer

Conroy Green

Printed in Jamaica By Pear Tree Press

Cover Shoot Location

Guardian General Insurance Jamaica Limited

Wealth Magazine accepts no responsibility for unsolicited material. This material may not be reproduced, displayed, modified or distributed without the express prior written permission from the publishers.

Our writers, advertisers, readers, partners, family, friends and the CME Team.

Special thanks to:

For further information on Wealth Magazine, contact: Creative Media and Events 15b Trinidad Terrace, Kingston 5, Jamaica W.I. Tel: (876) 754-2075 Fax: (876)-754-2070 Cell: (876)-579-7381 info@cmeja.com /wealthmagja

www.wealthmagja.com

@wealthmagazine

/wealthmagazinejamaica

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Contributors Laura Tanna

author of the books Baugh: Jamaica’s Master Potter and Folk Tales and Oral Histories with DVD and CD versions as well as the CD Maroon Storyteller. She does interviews and writes on art, culture and travel for various publications.

Dennis Brooks

has been a respected journalist and sociology teacher for over a decade. He has produced and presented several of the country’s top radio programmes, namely The Breakfast Club, The Corner, This Morning, Nationwide at Five, The Ballot Box, and Left Right & Centre, to name a few. He has served as a communications adviser to government ministers. Follow him on Twitter @dennisbroox

Garth O. Williams

Ryan Strachan

is a vibrant, creative, intelligent communications professional and father. Follow him on twitter @ohGarth.

is the manager, corporate solutions & wealth management at Stocks & Securities Limited and can be reached at rstrachan@sslinvest.com

Hodine Williams

Latoya West-Blackwood

is often referred to as pragmatic and a critical thinker. He holds degrees in general management and economics, and law. He is currently the assistant to the auditor general. He enjoys lively discussions on topical issues and has a keen interest in business reengineering and efficiency gains. When not working, he enjoys karate, painting, and charitable services.

Lancelot Tucker

is a freelance writer who writes on all things. While growing up, he spent much of his time reading. He specialises in online writing for a number of international websites as well as articles for magazines. He is the proud author of one published book and intends to publish others in the future. Lancelot enjoys traveling, listening to gospel music and spending time with old friends.

Kevin Jackson

Is an accomplished screenplay writer, animator and assistant director for Enhanced Realizm studios. He has written several narrations, music video treatments, short films, animations and a few feature length scripts since 2008.

is an independent publishing consultant with a particular interest in merging traditional publishing with digital and new media. She is a member of the Book Industry Association of Jamaica’s Board of Directors (Director - Development Initiatives) and also a member of the Jamaica Cultural Development Commission’s Creative Writing Advisory Committee. She can be contacted at ipublishja@gmail.com.

Nick Abbott is the principal of FrontLine Evolution, a boutique consulting firms which helps organisations increase profits and improve effectiveness by creating long-term, sustainable change to the behaviours of their front-line, customer facing staff.

Sancia Campbell

is a PR practitioner in the business and hospitality sectors with over 13 years experience in marketing, publicity and communications. An excellent writer and avid lifestyle blogger, Sancia enjoys reading and events planning. She is currently the PR & events coordinator at the Jamaica Business Development Corporation.

Alicea James is a full time editor at a popular publishing house in Kingston Jamaica. She has been a freelance writer for several years on sites such as Odesk and freelancer.com. Her passions include writing, traveling and shopping.

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Lady

Premier Kim Lee

Head - Channel Marketing, Sponsorship & Promotions LIME

1. What inspires you? We all set goals for ourselves whether personal or professional. The feeling I get when I accomplish these goals is inspirational. 2. What’s the last good piece of advice you received? I have high standards and sometimes I am too hard on myself. The best advice I ever received was to always remember to be true to myself and to make sure my expectations are realistic and healthy. I work at that every day. 3. Growing up what was your dream job? I’ve always been ambitious, so even though I wasn’t sure where my career would lead me, I knew I wanted to make decisions that really mattered. 4. What is your dream car, and why? A cherry red Chevy Corvette convertible. Corvettes are classic, sleek, powerful and super fun. Everybody loves a Corvette! 5. After a hard day, what relaxes you? My kids’ hugs and kisses at bedtime. They make all the stresses of the day disappear. Unconditional love is the best thing in the world. 6. What current projects are you working on? There are so many projects that are always in the works, it would be hard to pinpoint just one. Currently, our push is making Mobile Internet more affordable and accessible. As the value champions, we continue to reinforce this message to our consumer and support this with plans that are easy to understand and offers that are attractive. 7. What does ‘Wealth’ mean to you? Wealth is always thought of in terms of money, status, who you know…Wealth to me is an abundance of blessings. I am so blessed, loved, grateful and amazingly thankful for all God has given me. That makes me wealthy beyond measure.

INNOVATION

Developing A

Personal Brand

Is Worth The While By Shelly Anglin

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hese days the workplace is a more competitive place than in times past. Day-to-day business is now global, requiring individuals to stay on top of the constant business changes and necessitating much more than a boring business card. As such, a personal brand is now considered to be de rigueur. A personal brand is an effective strategy that tells who you are, what you stand for, and what makes you unique. It is a means by which an individual may establish a consciously constructed public professional presence and status in his/ her career field and the world at large. The good news is that although there was a time when only the super wealthy and powerful people such as Oprah Winfrey or Jack Welch had the ability to create brands, now, aided and abetted by technology, developing a personal brand is possible for anyone with access to a computer and Internet connection. And although it has been around for a while, personal branding is thought to have really caught on about the time an article called The Brand Called You authored by Tom Peters, appeared in a 1997 issue of Fast Company magazine. This article states that everyone is a brand and has a chance to stand out; a concept hitherto confined to large consumer products and companies with huge marketing budgets. "Today brands are everything and all kinds of products and services from accounting firms to sneaker makers to restaurants are figuring out how to transcend the narrow boundaries of their categories and become a brand surrounded by a Tommy Hilfiger-like buzz.â&#x20AC;? â&#x20AC;&#x153;Regardless of age, regardless of position, regardless of the business we happen to be in, all of us need to understand the importance of branding. We are CEOs of our own companies: Me Inc. To be in business today, our most important job is to be head marketer for the brand called You."

-Tom Peters

Even so, to some, the concept of a personal brand can seem vague, unnecessary and

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like just another business trend. However, experts stand by personal branding and insist that it is not only easy, but it can help you achieve your career goals. A personal brand expresses our distinctiveness in contrast to our colleagues and therefore characterises the unique contributions that we are capable of making to those who engage our services. It clearly states and demonstrates what makes you different and special. It includes your passions, strengths, and values. And by utilising technology, these can be effectively and consistently communicated and represented across platforms such as Twitter, LinkedIn, Facebook and blogs. Our brand integrates and consolidates our professional abilities and personal qualities into a single entity that is in effect, a promise of value to others. So our brand, a competitive tool in the marketplace, is much more than an image.

Benefits of Personal Branding

There are several benefits to developing a personal brand. For starters, when you go through the personal branding process, you develop an understanding of what makes you unique, powerful, and valuable. Your strengths are highlighted. It helps to bring into focus what you want to achieve and to set the goals to get there. Another benefit is to create visibility and presence for you. Once you know what is unique and compelling about you or your company, you can use that information to create visibility/presence to those people who will help you achieve your goals. Personal branding helps you to differentiate yourself from everyone else who has your job title or from persons in the same business as you. It puts you in control of your business, your clients, your projects, and service delivery. It can create wealth. Strong brands charge a premium for products and services. In like manner, a differentiated job seeker who knows his value can usually command a higher salary. And finally, it offers resilience. Strong brands are successful despite challenges and downturns in the economy. This Cont'd on pg 18

is because they are differentiated, representing something unique.

Developing a Personal Brand

In developing a personal brand statement, first determine what you want your personal brand to convey. Who are you and what are you about? How do you add value? Do an honest self-assessment. Think about your strengths and weaknesses. Identify gaps between who you want to be and how people might perceive you. Be clear about aspirations and goals. These must be measurable and achievable within a specific time frame. Now develop strategies to accomplish those goals. How are you going to carry out this step? What do you need to do to gain clients, a job at a new company, or a new position at your existing company?

- Revise your email signature.

Ensure that it’s something unexpected and yet somehow tied to your business.

- Be more accessible.

Let your 'contact us' page always convey that message. How you respond and how quickly you respond to questions, email requests, etc contribute to the mental image that your target audience holds of you.

- Create a strategy.

You must know where you’re going in order to reach your goal.

Then execute and manage your brand. You must continue to learn, update your knowledge and network with people in your field. Do things like:

- Get a cool business card.

Determine ways to take your business card to the next level.

- Enhance your voicemail greeting.

Promote your brand online.

It is important to portray yourself well here. One of the essential outlets to promote your personal brand is LinkedIn; Have a robust profile. Be active in online groups that are related to your career field; use power words, such as guided, developed, exceeded, and follow corporate brands that put out valuable content. Twitter A professional Twitter account is an asset. Utilise hashtags and so maximise an awareness of your brand.

Embellish your messages with a memorable element. For example, a gardening consultant could greet callers with, “It’s a great day for cultivating a garden! Let me know how I can help you.”

Blog/Website Get a website or blog. A website is a good way to show your work. A blog provides a way to develop thought leadership in your area of expertise and to establish credibility in your rise as a thought leader. With these strategies in hand, you are well on your way to creating ‘Brand You'. If you have never given personal branding a thought, now is the time to roll up your sleeves and get to work on a comprehensive concept of ‘you.’

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INNOVATION

Changing How

n order to have a business that is known as the “Innovation Leader” – we must be open, flexible and dedicated to always doing it better next time. Many businesses get complacent when they are making money and when things are going right, but as many of us who play sports know, the enemy attackes when you are at your weakest. In this case, the enemy is your competitor and you should always be looking for ways to do better next time. Steve Jobs once said the difference between leaders and followers is innovation. Did you know that on average less than 20% of individuals entering a retail general merchandise environment actually become a customer? So here we have 80% of your shoppers, on average, simply not purchasing from you. Chances are they will find what they are looking for at your competitor. To build further on this statistic, research indicates that the average customer service score is only 70%; so really we have 70% satisfaction from 20% of customers. How do we increase these conversion and satisfaction rates? Customers want to feel like they are being taken care of and they are receiving value for their money. The idea behind innovation is to make small incremental changes to existing products and services. When people think of innovation, they think of Apple’s iPhone with its smart technology and Dropbox for becoming ‘the everything’ cloud. Customers buy for 2 main reasons - pleasure and pain. Ensure you tie the customer’s pain or pleasure point to your profit and loss or bottom line and then the business will be aligned with your customers’ needs.

Is Done By Yanique Grant Innovation is very simple and can be applied very easily once your aim is to delight and excite your customers. As the balance of power continues to shift toward customers and away from companies, innovation is the one strategy that will allow your company to keep your customers loyal for life. Here are six customer service strategies to help you get started: 1. Stay in touch – In our workshops we have an analogy that we use called “Keep Your Hand on the Horse”. People who groom horses report that it is important to groom with one hand while keeping the other hand on the horse. In this way, they say the horse always knows where you are. Once you take your hand off the horse, it can become skittish and kick you. “Keeping your hand on the horse” means developing a system in which customers feel taken care of or “in contact” with your system, your organisation and your people. Keep your customers close and make them feel as though you are easily accessible. 2. Make great service a priority – Excellent customer service requires constant intervention of development and growth with all team members as this will reinforce the message that the customer always comes first. The best way to ensure that your team will treat customers graciously is to set the right example. If you do things the way you’d like them done, that will be more effective than lecturing and criticising. 3. Store collective wisdom – Set up a system for responding to customer inquiries or complaints. Service recovery is most effective at the first point of contact.

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Also, develop a "knowledge base" - a store of information with answers to common questions, methods for solving problems and standards for resolving disputes. This can be as simple as a notebook, a searchable text file on a computer or a database. 4. Empower your team – Customers hate when they do business with a company and the frontline employee is not able to solve their problem. When there is no policy - and occasionally in cases when the policy needs to be broken or circumvented organisations need to empower key people to make decisions, use good judgment and be flexible with the rules as the rules are simply guidelines.

5. Know your customers – A formal method of tracking your customer interactions will help identify your best customers as well as those who have stopped doing business with you and need to be won back. Simple customer relationship management software such as ZOHO can be used to manage this process. You can also keep detailed notes related to their purchases and preferences. 6. Manage customer relationships – All customers love to be treated in a special way. First you must establish a track record and some history about your customers, you can begin to identify and reward your most valuable ones. Offer a special discount or have a referral program. There are many imaginative and innovative ways to reward customer loyalty. Use the information that you have collected to make customer service a science. Make the experience so magical they will keep coming back for more!

“I think we’re having fun. I

think our customers really like our products. And we’re always trying to do better. -Steve Jobs

”

INNOVATION

How

Is A Company’s

Important Mission Statement?

By Sancia Campbell

hen an entrepreneur makes the decision to start a business, whether product or service oriented, that entrepreneur embarks on a mission to meet a need, provide a service or find solutions to a problem. To achieve this mission, the entrepreneur must coin a statement of purpose that clearly explains the company’s reason for existing. That declaration is defined as a mission statement. A mission statement is designed to reflect the intentions of the company, what it wants to achieve, in what time frame and how these achievements can and will be made.

So what are the critical elements of Questions such as: - What do we do? an effective mission statement?

A mission statement is formally defined as a sentence describing the company’s functions, markets and competitive advantages or a short written statement of the business’s goals and philosophies. In that context, it is fair to surmise that a company’s mission statement, whether written or not, is an important tool that provides direction for the company and its employees, fulfills a purpose and gives the business an identity.

Importantly, the mission statement should not be confused with the vision statement. The vision statement focuses on the potential in the company’s future. It has references to how the company intends to make that future into a reality.

A properly conceptualised mission statement addresses its stakeholders, corporate and social issues and philosophical momentums of the company. It defines every action that is taken by the company and should not be confused with sales slogans or the company’s motto.

Business scholars proffer the following fundamentals: value, inspiration, plausibility and specificity. The belief is that the entrepreneur should be able to formulate a concise statement which conveys the value of their company, inspire and encourage employees, sounds reasonable and plausible, while being as specific as possible. The idea of the mission statement is to encourage entrepreneurs to find a key theme for their company and to make sure each of these components revolve around it.

A mission statement is important to a business as it acts as an anchor to keep the business on track. A well-crafted mission statement provides the focus and motivation needed to take the business to the next level. It gives the company direction; so it will define the customer base, target audience and identify the right customers. One of the first steps in developing your company’s mission statement is to ask all the relevant questions.

- Who do we want to do it for? - Why are we in this industry? - Why did we start this business? - What image do we want to convey?

In writing the actual statement, the entrepreneur should use vibrant and exciting words. The intention with the mission statement is not to have it written in the business plan only or hang on the walls of your offices. The statement is to have such a profound meaning to all the stakeholders that it inspires action with a view to achieving company goals. Describe your purpose using unusual, colourful verbs to add vim and vitality to your statement. Keep the mission statement short but ensure that it feels good when you read it aloud. An effective mission statement captures in a few succinct sentences, the essence of your business’s goals and the philosophies underlying them. It signals what your business is all about to your customers, employees, suppliers and the community.

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TECHNOLOGY

Coming 2015: Number Portability

By Leighton Williams

n recent times the term â&#x20AC;&#x2DC;number portabilityâ&#x20AC;&#x2122; has become the new catch phrase in Jamaica. Number portability refers to the process of switching from the telecommunications network of one operator to another, without changing numbers. Number portability is being encouraged by the telecommunications ministry as one measure to level the playing field in the telecoms market. Although it is yet to be introduced in Jamaica, number portability has been around in the United States since the 1990s with other countries in Europe, Asia, Africa and North America following suit since then. Edward Sonnenberg invented number portability while he worked for Siemens. Though it was introduced as a tool to promote competition in the heavily monopolised fixed line/landline telecommunications industry, it became Continued on page 26

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popular with the advent of mobile telephones, since in most countries different mobile operators are provided with different area codes and, without portability, changing one's operator would require changing one's number. In some countries, some operators with large existing subscriber bases have argued against number portability on the grounds that providing this service incurs considerable overhead, while others argue that it prevents vendor lock-in and allows them to compete fairly on price and service. Due to this conflict of interest, number portability is usually mandated for all operators by telecommunications regulatory authorities. In the US, the Federal Communications Commission mandated number portability in 1996. In fact, since its introduction in 1997 in Singapore, more than 60 countries now offer number portability. The United States allows persons to move their landlines to mobile numbers and vice versa. This service was introduced in 2003 but has geographic limitations. The service to move numbers is free in most countries. In Jamaica, an informal number portability working group comprising representatives of the main providers – Digicel, LIME and Flow – as well as the telecommunications ministry and the Office of Utilities Regulation has been set up. The timelines for porting, as indicated by the draft rules, include five working days for individual fixed-line numbers, 10 working days for blocks of 100 or more fixed-line numbers, one working day for individual mobile numbers, and two working days for individual mobile numbers that require additional authorisation.

Advantages Number portability has several advantages. For one, it allows consumers to choose a service provider based on service, quality and price, rather than on a desire to retain a particular telephone number. Rules posted on the Ministry of Science, Technology, Energy and Mining’s website last year stated that “each operator – operator being an entity that runs a public telecommunications network – shall bear its own system set-up costs associated with making its network

and support systems number-portability capable”. The site added, “joint and common costs, including the recurring costs of a centralised database and/or centralised order handling system shall be shared among the operators”.

increased competition among players in the market. In mature markets, it has also led to creative marketing strategies among players since all are vying for the same customers.

Disadvantages

In the United States, a March 2013 report commissioned by Neustar Inc., which currently administers that country’s number-portability system, indicated that the implementation of number portability with a minimum two-hour lag time between request and transfer, saved consumers billions of dollars annually. The report, titled ‘The Consumer Benefits’ of an Efficient Mobile Number Portability Administration, by Navigant Economics quotes Managing Director Hal J. Singer as saying that an efficient and reliable number-portability infrastructure reduces porting time and lowers the cost of changing service providers, giving consumers and businesses greater choices when it comes to their telephone operator. Singer said the wireless consumers in the US enjoyed annual savings of $8 billion to $10 billion between 2005 and 2010 because of mobile number portability, which was implemented in 2004. Another advantage is the ability to retain your number after porting to a new telecom service provider. Of course, switching to a new service provider will mean that you have to notify all your contacts about your new number, thereby giving you extra work to do. But with number portability your contacts will still have your number although you are now a subscriber on another network. A third advantage has been it has increased competition in markets where mobile penetration is high. It is argued that portability has led to reduced rates, better service for consumers and

While there are those who trumpet its advantages, number portability also has disadvantages. For one, number portability has been known to affect post paid services as consumers on that plan will lose their packages on the new network. Another disadvantage is that prepaid users will lose their balance when switching. It is said that it is best to use all your minutes before switching your network. Also, persons who switch carriers may be forced to wait as long as a few hours to a few days for their service to be restored. Thirty four year-old Richard Marshall is waiting on number portability not because he wants to change carriers but because of the price reduction that will come. “I don’t plan on changing my number or cell phone service. In fact, I have a number on both Digicel and Lime. I just want it because I know the rate will be cheaper to make calls. I plan to keep both numbers. But I look forward to it being in Jamaica,” he said.

Tech QUOTES " The most technologically efficient machine that man has ever invented is the book. "

- Northrop Frye

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TECHNOLOGY

Contributed

Microsoft Jamaica Launches

Office365

Donation Program for Nonprofits Cloud-based productivity and collaboration tools enable nonprofits to streamline IT and focus on social impact

icrosoft Jamaica in May announced the local availability of Office 365 for Nonprofits for qualifying nonprofit and nongovernmental organisations (NGOs) through its software donation program. This program was launched in 41 countries around the world in September 2013 and became available in Jamaica at the end of the first quarter of 2014. It is expected to become available in up to 90 countries by July 2014.

Marcelle Smart, country manager, Microsoft Jamaica believes free access to Office 365 (O365) is the first step towards supporting NGOs to be more effective and efficient in the work they do. “We are focused on NGOs that drive youth empowerment and entrepreneurship, but we are responsive to all NGOs with varied missions addressing global issues, such as disease eradication, education and literacy, and environmental sustainability.” According to her, nonprofits need to move their operations through the IT maturity stages to have secure & stable technology, optimised service delivery and transformation through IT innovation. In a study by Microsoft’s software donation partner TechSoup Global, nonprofits reported that the top four advantages of cloud computing are easier IT administration (79%), cost-savings (62%), improved collaboration (61%), and data security (54%). Given the increasing challenges facing nonprofits around the world, it’s more important than ever to make sure they can access the advantages of cloud computing and drive even more social change in the world.

Non-governmental organisations (NGO's) from around the island gathered for the Jamaica NGO Day seminar hosted by Junior Achievement of Jamaica. Microsoft Jamaica country manager, Marcelle Smart is pictured delivering the announcement on the donation of free Office 365 software for all eligible nonprofits on the island.

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Continued on page 28

Marcelle Smart , Microsoft Jamaica country manager,(right) announced the donation of Office 365 for eligible non-profit organisations at Jamaica's NGO day hosted by Junior Achievement of Jamaica. Rev. Ronnie Thwaites, Minster of Education (centre) who addressed the group of NGO's is pictured with Alphie Mullings-Aiken (left), president Junior Achievement of Jamaica.

Current grant recipient, Junior Achievement of Jamaica served as host to Jamaica’s Inaugural NGO Day. Alphie Mullings-Aiken, President, said: “It was a pleasure to share in the announcement of Microsoft’s expanded access to software for some of Jamaica’s most deserving organisations. We understand the challenges that NGO’s in Jamaica and around the world face and are thrilled to see eligible colleagues in the social entrepreneurship field receive tools that add value, efficiency and security to their operations”. Office 365 for Nonprofits provides nonprofits and NGOs access to Microsoft’s always up-todate Office cloud service, tailored to the needs of nonprofits, including: • Ability to access information from virtually anywhere: Office 365 for Nonprofits increases an organisation’s ability to work from anywhere with access to documents and files by using Office applications optimised for use across PCs, smartphones and tablets. • Collaborate easily: Nonprofits are easily able to work together across an organisation by using familiar Office applications with email, shared calendar, document sharing, and video conferencing. • Easy IT implementation: Office 365 for Nonprofits includes access to easy-to-use administrative controls and the ability to install Office without uninstalling previous versions. • Reliable and up-to-date: Office 365 for Nonprofits allows organisations to spend less time on IT maintenance, while providing access to up-to-date technology that is simple and easy to use. Office 365 for Nonprofits is financially backed by industry-leading security features and a 99.9% uptime guarantee. “Microsoft has a long-standing history of philanthropy, providing nonprofits with software donations and cash grants for the past 30 years,” said Jennifer Brooks, Regional Director for Corporate Citizenship for Microsoft Latin America and Caribbean. “In total, our CSR programs have impacted 4,309 organisations in the region. Through them we have donated more than $337 million in cash and software.” Nonprofits and NGOs interested in implementing Microsoft Office 365 can check eligibility and order donations at www.microsoft.com/office365nonprofits. Migration information and resources can be found at http://fasttrack.office.com.

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Innovation. Expertise. Strength

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TECHNOLOGY

Tech Savvy

Gadgets for the Summer

By Alicea James

ummer is just around the bend, but many of us don’t have the luxury of taking the entire summer off due to work obligations. Whether your summer plans include a little fun in the sun, weekends at the beach or even if majority of your time will be spent in the office, chances are technology will be in your hands, in your bag or on your desk. Hey, I totally understand, it’s a techno savvy world we live in, and to be quite honest I’m not sure how our forefathers functioned without it. But, luckily we don’t have to; here are some fun and functional gadgets to get us through the summer.

1. Tablets

Ipad Air, Blackberry Playbook, Google Nexus or Samsung Galaxy Tab; if you own a tablet, chances are you won’t be too bored this summer. The great thing about these nifty little gadgets is that you can bring them anywhere due to their convenient sizes, and you can practically use them for everything. Tablets are ideal for business meetings, not only do they look more sophisticated than the old pen and paper, but they are extremely convenient during times when you need to use the internet. Although tablets are ideal for the workplace, they are also quite convenient for moments when you want to just sit back and relax. If you like to read you can download eBooks from sites such as kindle or kobo. If you want to reach business contacts overseas, you can log into your Skype account at the touch of a button. Plus, social networking sites are only a click away, and if you need a little Lauren Hill to de-stress during your lunch break, there’s a music app for that too. So, whether this summer will be all about business or you will find time to have some fun, your summer won’t be the complete without a tablet.

2. External battery packs

What’s the point of having a tablet or cell phone if the battery is going to die when you need it most? Well, thankfully someone came up with a solution to this issue in the form of external battery packs. There are many different options on the market right now. If you own a variety of different gadgets then it simply won’t be convenient to carry around a charging device for each. The external battery pack can charge several different devices including tablets, cell phones, laptops and mp3 players. You can also choose a size that is suitable for your budget and lifestyle.

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3. Smartphones

The name really says it all, I’m sure some of us are a bit too addicted to our phones, but we can’t deny the convenience of this small, yet powerful gadget. Although the younger generation seems to be hooked for their own reasons, others in the business world will admit that smartphones equal productivity and expediency. One important quality is that while at work, at a business meeting outside the office or at a work function in a different part of town, you have your contacts at your fingertips. If you are about to give a presentation and you need to fact check something, a smartphone offers the discreetness that a laptop cannot. If you need to check your schedule, why drive back to the office for your business diary, when one click of your smartphone can tell you everything you need to know? There are phones, and then there are smartphones; with so many options to choose from you are sure to find one that fits your personality; it will be a worthwhile investment.

4. Mobile scanners

Most of us have a huge contraption at work that can scan, print, fax and perform many other functions. However, for those of us who scan large amounts of business documents daily it can be quite inconvenient to scan and save to a USB device. Then there is also the other process of getting the document from the USB and saving it to another convenient location. There is a quicker way to scan your documents thanks to the mobile scanner. This device can scan documents and save them directly to your memory card, USB or directly to your computer or mobile phone in just a few minutes. You can scan documents, receipts, business cards, photos, etc. and you have the option of saving in PDF or JPEG format.

5. Multi- port USB hubs

Some computer systems have one USB hub at the front (two if you’re lucky) and if you need additional hubs? Well, you simply have to crawl under your desk, pull out your hard drive and find a way to reach the additional ports at the back. This is annoyingly inconvenient so the solution is a multi-port USB hub. This device has different options to choose from. There are hubs with five to ten additional ports or you can even find options that offer as much as 28. Flash drives, cell phones, tablets, mp3 players, printers, fax machines and several other office equipment require the use of USB ports, so if you want them all plugged in at the same time I suggest you invest in this gadget.

6. USB mug warmer

Yes, the summer days might be hot but that doesn’t mean you don’t want your daily cup of coffee. The bad thing is, once you step away from your desk for a minute or two, when you return your coffee is cold then its back to the microwave for a reheat; how inconvenient is that? Well thank your lucky stars for the cute little USB mug warmer. Just plug this handy device into your computer, flip the switch and voila! Your coffee is warm again.

I don’t know about you, but these handy devices might actually make my summer a lot more tolerable, especially since I will be working the entire time. Oh the joys of technology, it doesn’t make the day move any quicker, but it adds a little more fun to a boring workday! Have a tech-savvy summer!

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FEATURE

Lawyered B to death

-A downward spir al? By Hodine Williams

eing a lawyer was seemingly once a lucrative and noble thing to do. It was pretty much a done deal that after spending the five or seven years studying, the dream job would fall right into your lap. After all, they would always be there waiting on us, right? But this is no longer the case. The recession has apparently taken a toll on the demand for lawyers. More and more persons are being exposed to law during their studies and more persons are studying to become attorneys. In addition, government entities like the Titles Office, and Companies Office in an effort to improve their efficiency, are investing in online support and Do It

Yourself applications and processes. The reasons are however, not exhaustive.

measures and competition are the main drivers for the rapid changes.

Some of my colleagues quip that "law is under fire". We have an unstable economy, a glut on the supply side of lawyers and a shrinking demand for (traditional) ‘lawyer services’. For many attorneys, it’s quite daunting to learn that their colleagues and new entrants to the profession are willing to charge and work for half the usual market rate. My business/economic acumen knows all too well that with competition and excess supply, prices will indeed plummet. Didn’t we see this coming? Many firms, even law firms have opted to boost the capacity of their current staff complement rather than to hire new employees. Austerity

I remember having a healthy conversation with a group of lawyers and there were varying comments about the saturation of attorneys in Jamaica. This year alone about 140 new attorneys will be called to the Bar. One colleague posited that he is up for the fight as in the past, "them guys were shooting fish in a barrel and that now is the time for merit and true skill". Given the current circumstances, many lawyers, both practicing and aspiring, are very anxious to see where they will end up. There is however, a great deal of opportunity in all of this. But the challenge is that we tend to have this very idealistic

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luminary for less shimmery and non-legal callings. The role of societal institutions is of paramount importance in changing the paradigm. I have often criticised both the education system and the government for operating with several silos, the main one being that everyone is doing their own thing. If we are to realise the National Development Plan (Vision 2030)

Jamaica: the place of choice to live, work, raise families and do business, then there is desperate need

for more collaboration. People certainly need to start talking to other people. It’s only through this kind of cooperation that we may move along singing the same song towards the goal. Law schools need to play a part in bridging certain gaps in the society. Law schools certainly need to emphasise other areas and make that distinct transition from a faculty concentration to a vocational feel.

view about the career and maybe resign to the traditional areas or become a great advocate. We see where areas such as property law are becoming far less lucrative with the abundance of attorneys. The increasing ease by which the legally uninitiated handles such matters further compounds the situation. There is clearly much at stake. When you consider that most law school graduates join the workforce owing millions in student loans and other debts, then you must agree that the situation is quite grave. We may just have to reconsider joining the big law firms for corporate engagements, or industry explorations or entrepreneurial ventures. Lawyers may have to toss lofty ambitions of legal

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While attending law school, I never felt that those at the postgraduate level should be competing with those at the undergraduate level in moots and other competitions. I believe some things should be left at the faculty level allowing soon-to-be lawyers to really add value and become pioneers in whatever sphere of life they wish to pursue, including new and emerging areas. Greater concentration should be on the lines of filing, navigating the full aspect of court proceedings, increased advocacy, and establishing and running a solo practice. They may even consider offering certificate courses to persons who aren’t interested in the full practice, but may want to, for example, better acquaint themselves with legal aspects of landlord and tenants. Well, until someone musters up enough courage to depart from the mundane and traditional mode we will continue to face serious challenges. On the flip side, I’m still an optimist, but I think this situation makes for creativity and a bit of resilience. We can find niches to operate or work in capacities that can add value to an organisation. Many businesses are engaging persons with legal knowledge as it brings a different perspective to many business engagements. Civil society is untapped and could also be a very lucrative endeavour, especially where human

rights are concerned. The productive industries need to also recognise this and while they contemplate new ways of navigating through the business jungle, they should consider the value added that some professionals may bring. Not only are some areas of business untapped, but with the proliferation of issues, we might also anticipate delving into underserviced, new, and emerging fields such as health law, intellectual property law, privacy law, information communication and technology law, and international law. I can recall reading an article some time ago and one person’s comment was that there are not too few lawyers, but rather a communication gap between clients and the legal advice they seek. Looking beyond the face of it – it appears to be a plausible rhetoric. Perhaps the legal profession is not on the brink of a downward spiral, but what is necessary is a shift in the way Jamaicans perceive lawyers and by extension, the legal profession. Lawyers by genus are problem solvers. Our training affords us the ability to make considerations that not many persons will readily appreciate. By species, they may be land transfer facilitators, divorce settlers, will writers or demand-letter writers. It is quite possible that in Jamaica this is the capacity in which you have interacted with an attorney-atlaw. What is curious and when you think of it – sad, is that regrettably, there are not too many of these problem solvers engaged in manufacturing. Businesses need funding and advice at every step of the way. The proprietors may own the business, but the building is leased, so too are the machinery and several other persons have an interest in them. What happens if an employee gets injured? What about health violations? There are many sectors that are underserviced legally. How many contract breaches result in millions of dollars in losses because one party chooses to walk away or even realise that there exist actionable provisions? Let’s pause and consider Brand Jamaica. How many attorneys can prosecute a patent, or give specific industry advice to an entertainer or athlete? With globalisation at our doorstep and the global marketplace becoming the deal of the day, we are going to encounter

challenges we may have never been exposed to previously. God forbid, a local entity wishes to acquire an overseas producer? Then we have CARICOM; do we have subsidiaries of local firms in say Trinidad? How about the Cayman Islands or The Bahamas to push it a bit? The business acquisition process alone might scare many. This requires a thorough understanding of the entityâ&#x20AC;&#x2122;s structures, cross-frontier company laws, dissolution processes (court order, voluntary or otherwise), tax consequences, potential tort and debt exposure, community law, employment law, pensions, environmental law, and a myriad of other concerns that a methodical professional can anticipate on the front end. New-age attorneys have a host of other skills, including management, economics, tax,

entrepreneurship etcetera, which may very well complement their legal skills offering far more utility in business. There are not too many skilled specialists in these areas. The profession is not on a downward spiral, what we lack is innovation. If we fail to change or to make the necessary linkages it may very well be the death of many legal aspirations. We therefore need not be worried about the piece of the pie getting smaller. What we need to do is to think and refocus; to carve out a niche and market it well. Complement your skills if you have to. Stop thinking about the piece of pie â&#x20AC;&#x201C; leave that for the old boys! Forget it altogether and cut yourself a slice of the cake and while you still can, eat it too.

FEATURE

STREET STYLE

Cook up

n Jamaica, cooking and a love for food go hand in hand, from households to restaurants and streetside cook shops, a place for food can be found in every corner of the island. In the inner-city, food has been used as an expression, a symbol of culture and as a way to bring a community together.

Gas Products Limited along with partners the Planning Institute of Jamaica/Community Renewal Program (PIOJ/CRP) have come together for a project heavily geared towards the empowerment and development of members in our inner-city communities. The Gas Pro Street Style Cook Up is the first in the region but will be staged three times a year in different communities over the next four years. As such, the teams at Gas Pro and PIOJ will be utilising the cook up as a way to encourage togetherness and socioeconomic development and as a platform to showcase the culinary talents of those living in inner-city communities. The grand finale was staged on May 17, 2014 and included special community events such as “corna cook ups”.

Suwannee Stewart, Senior Brand Manager, Grace Foods & Services Co Ltd receiving her cup of conch soup from Lonie 'Miss Likkle' Thompson.

Rayon 'short boss' Brown being presented with a brand new pot from Sarah Hunt of Azan Supercentre at the 'corna' cook up on High Holborn Street.

What is a “corna cook up”?

A “corna cook up” is an activity in which the residents of the community play “host” to corporate sponsors on a specific corner in the community. This corner would usually have a cook shop, restaurant or bar on location, and the residents come together to cook, play games and just revel in the camaraderie and natural environment of the community. There were several corna cook ups which were scheduled thoughout the 6 week program. During the final cook up on May 17 four teams battled for the title of Street Style Cook Up Champion. Twelve residents from the community and 4 corporate sponsors were placed in teams to compete during the Live Event on Tower Street for the community of Parade Gardens. Each was judged on taste, presentation, preparation and budgeting. The winners of the competition received prizes coutresy of Singer. Sponsors include Gas Pro, Pepsi Jamaica, Grace Cock Soup, HD Hopwood, Singer, Azan Supercenter, Hype TV, Eve, Lider, Atlas Group and JN Small Business Loans.

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Minister of Industry, Investment and Commerce Anthony Hylton addressing the audience at the launch for the Gas Pro Street Style Cook Up.

Nicola Dawson, Sales Manager at Gas Pro with Rosalyn 'Din Din' Dwyer and Simone Johnson, Eastern Sales Manager, Gas Pro.

FEATURE

Peter's

Painting Passion

By Garth Williams

eter Peart is an artist like no other. While the creative juices of others sometimes ebb or flow, Peter is a never-ceasing geyser of ideas.

“Art was just born in me even though neither of my parents has any artistic talent,” he said as he recalled his early days growing with relatives in St Ann. “Ever since I was a young boy all my friends, relatives and people I didn’t know constantly encouraged me to make my talent become my career. ‘Go to Edna Manley College’ they would always say, but it took me a while before I got there,” he added with a chuckle. Peter ’s parents lived in Kingston and Portmore while he spent his younger years in Priory, St Ann. He attended the Priory Primary and Infant School before moving on to attend the Aabuthnott Gallimore High School in Alexandria, St Ann. “I was always doing a wide variety of painting and artistic projects. Everything from painting custom-designed T-shirts for friends and family, to making designs on jeans pants. I even got a job painting for a company which designed billboards and

other signs," he explained. “I went to a gallery and saw a man painting some pieces and told him I could do that and he told me to bring in some work. I brought them in and then even my friends would take pieces of mine to galleries for sale, so I did lots of work supplying galleries mainly in Kingston.” Peter said his inspiration came from all around, but throughout his life he has been a reader and through his reading came inspiration for his large body of work. “I would see works by Michelangelo and other great artists and think to myself that nothing is really stopping me from painting great things too,” he said.. He explained that Jamaican painter, the late Anthony Wilson, was the first one to recommend that he starts selling his pieces to a gallery. He said Mr Wilson pointed him to the Frederick’s Gallery and told him where he could get art supplies. By 1989, Peter made the decision to attend the Edna Manley College of the Visual and Performing Arts. His talent was so well honed at that point, his lecturers questioned the purpose of his attendance. “I ended up being a tutor of sorts because I would help my classmates with things that weren’t being taught at the

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time. Most of the students were into drawing, but never knew how to paint and use colours to create illusions of depth and so on,” he said as he fondly recalled his time in the classroom. After graduating from Edna Manley, his sales to galleries continued and he sought to broaden his reach. This desire to expand his reach led him to the Jamaica Promotions Corporation (JAMPRO) where a professional relationship developed. Peter would travel with the Jamaican contingent on JAMPRO’s trade missions overseas. He boasted of his travels to all CARICOM member states as well as countless locations across the United States and the United Kingdom. This extensive overseas travel worked well for him, especially as an artist who is in love with painting landscapes and other scenes from the natural environment. His travels allowed him to illustrate scenes on canvas which would reflect a certain international appeal. Being a part of the trade missions also worked out well financially for him. “Some of my biggest sales came from my trips overseas. People like Jamaica and our art. Jamaican migrants love my pieces because, for many of them, my pieces represent a part of home which they miss.” In full recognition of the inconsistency of sales in the art industry, Peter has sought to set himself apart from other artists/painters. He noted that he has also learned the art of saving as months would pass without a single sale.

“I’m an artist who enjoys painting landscapes and abstract art among many others, but I also enjoy painting on a variety of media. Now I’m into painting light-switch covers, refrigerator magnets and so on. You could consider my newer works as a bit of functional art.” The artist can also create customised designs for decorative tiles to be used in any part of the home or office. Ceiling paintings and murals aren’t beyond him either and the list goes on. “People ask me to make paintings which they use as key chains and coasters for dining. These are great gift ideas.” Peter , who is the recipient of numerous awards from the Jamaica Cultural Development Commission (JCDC), has passed on his talent to his 17-year-old daughter, also a JCDC festival multiple awardee. His hope is that she will follow art if only as a hobby as she has her sights set on becoming a paediatrician. He also continues to come up with innovative ideas to make his art more appealing to art lovers and is seeking to convert persons, who would otherwise be uninterested, into art lovers. While keeping some of the ideas secret, he did share that his new project is to make art from sand in unconventional ways; he invites you to keep an eye out for that.

Samples of Peter's paintings

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FEATURE

The Life of an Insurance Adviser: Aida Davis

By Monique Grange

ome consider it one of the most challenging careers one could take on. But for Aida Davis, life as an insurance adviser is quite rewarding. For someone who never dreamed of a job in sales, Aida has been quite successful as an insurance adviser at Guardian Life Limited; a position she has held for the last five years. Aida, a wife and mother of two, went from an eight-year customerservice position in the airline business to becoming a financial adviser at one of Jamaica’s most trusted insurance companies.

“I never wanted to do sales, but someone told my husband about the position and I said, ‘Let me give it a try, I have nothing to lose’. Being in sales where you definitely have to go out and earn your pay cheque is just a completely different field. I’m more customer-service oriented, so I really saw myself in that area.” Aida has no regrets about taking up the offer to join Guardian Life as she said the experience has been very exciting and fulfilling. “My life as an insurance adviser is challenging, but very rewarding. Rewarding because I get a great feeling at the end of the day, knowing that what I do is beneficial to peoples’ lives and that when I have a client, I have more than a relationship; sometimes we become friends.”

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She further explained that her job is not only about assisting her clients with their financial needs, but also about helping them to make wise decisions that will impact their quality of life. “For me, it’s not about the sale; it’s about helping them in the long run to achieve their financial goals or whatever it is they want to achieve. I get involved in every aspect of their lives. At the end of the day, you have to stick with your clients through everything and all the different phases. When I deal with my clients I don’t sugar-coat anything. I’m very honest because as I said, it has to be beneficial to the client and not just about making a sale.” Aida’s customer-centric personality can be credited for the relationship she has with her clients. She described her position as more of a career than a mere job. “In the insurance business, you deal with people on a personal, face-to-face basis, that’s my type of personality. I love helping people and I have realised that if you give good service, clients will stay with you for life,” she explained.

So how does this insurance agent balance her personal, family and career?

“Balance is important and I’ve always stuck by it. You have to prioritise. Spirituality is very important for me and my

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husband; God, family and then work. Even though I have my hands full, my kids motivate me and my husband supports me. That’s how I get to do whatever I have to.” Her formula has worked. During her five years at Guardian Life, Aida has received several awards. “In the past years, I have managed to keep in the top 25 insurance agents (out of 350 agents) within the company as well as in the top three in my branch for last year.” She has also been honoured agent of the month several times and has also been a Quality Club and Consistency Club awardee. Aida has also received the Guardian Star on more than one occasions. She explained that that award is based on the number of clients that one signs up for the quarter. Aida wants to remain in the insurance business. She sees herself managing her own branch in the next five years, working with a successful and self-driven team. For her, becoming an insurance adviser was one of the best decisions she has ever made. She advises others contemplating a major decision: “If you want it badly enough, re-evaluate yourself and make a change.”

FEATURE

Sagicor Group:

Providing World-Class Customer Service

By Monique Grange

(l-r) Kristine Bolt, VP Customer Experience Sagicor Group, Elizabeth Douglas Customer Service Manager Sagicor Life, Richard Byles President and CEO of Sagicor Group Jamaica, Tara Nunes, VP Sales and Customer Experience Sagicor Investments.

ood customer service is the lifeblood of any business. Sagicor Group Jamaica knows it. In fact, the company has 6 awards to show for it. The full service financial institution now holds the coveted Service Excellence Awards from the Private Sector Organisation of Jamaica (PSOJ) and the Jamaica Customer Service Association. The Private Sector Service Excellence Awards recognises businesses within two

main groups, medium-sized entities and large companies. Sagicor Group was recognised for its service in six of the eight categories among large companies. In addition to the Service Excellence Award, Sagicor Group also won in five other categories: Monitoring and Measuring Systems, Use of International Benchmarks, Training and Capacity Building, Handling of Customer Complaints, and Leadership and Strategy. The PSOJ assessed Sagicor Group and the other applicants based on the systems they have in place for

meeting and maintaining high standards in those categories. Kristine Bolt, Vice President Productivity & Customer Experience at Sagicor Group described the company’s almost “clean sweep” at the awards ceremony as a validation and visible proof of the work Sagicor Group has been doing. She also credits the company’s improved service standards to, among other things, the three-year service culture plan that was implemented in 2010 and which has since

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been extended. Bolt also explained that Sagicor Group has made its system for complaints handling and training more robust as the company seeks to empower employees to serve. The VP also noted that Sagicor Group has also adopted the International Standard for Service Excellence 2012. Those standards help the group to benchmark its customer service with international organisations or governments what may be delivering best practice in customer service excellence. The company has its mind set on winning the two categories - Reward and Recognition and Service Charter - which it lost out on this time around. Commendably, it has already set the ball rolling in that regard. Bolt said her department plans to work with human resources to formalise certain systems and policies which were not set in stone. “We will continue the revision of our service charter and make it more visible so customers are clear on where we stand and team members remember what the

company promises to customers.” So determined is Sagicor Group to keep its promises to customers that it made sure to outline those commitments in its Customer Service Charter. In the charter the company pledges to “deliver an excellent experience for every Sagicor customer”. Accountability, fairness, reliability, transparency are just a few hallmarks of the company’s service charter. The company also ensures that the right systems are in place to identify the areas that need improvement, it sets specific customer service targets and measures its performance based on those targets. Clearly, the company knows the value of customer service as one of the most important ingredients of the marketing mix for products and services. As the company basks in the aftermath of its success in service, Elizabeth Douglas, Customer Service Manager for the life insurance arm of Sagicor Group has her heart set on winning big at the

2015 Service Excellence Awards. She noted that training for Sagicor Life’s staff is continuous. “We have one-on-one training with our customer service reps as we always try to find new ways of doing things. Members of management ‘walk the line’ to observe the interaction between staff and customers” she explained. The Vice President, Sales and Customer Experience, Tara Nunes, sums up the matter by highlighting that all team members always strive to raise the bar in Sagicor Group’s service delivery. “Building relationships is very important. The entire team is very proud of the awards as they spent a lot of time in training aimed at transforming our service culture.” Sagicor Group has always prided itself on being synonymous with world-class financial services; now the company can proudly say it’s also known for world-class customer service. Keep it up Sagicor!

Elizabeth Douglas Customer Service Manager Sagicor Life and Ava Dixon (seated), Assistant Manager, Customer Services Department.

(l-r) Richard Byles President and CEO of Sagicor Group Jamaica, Kristine Bolt, VP Customer Experience Sagicor Group, Elizabeth Douglas Customer Service Manager Sagicor Life, Tara Nunes, VP Sales and Customer Experience Sagicor Investments.

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Kristine Bolt, VP Customer Experience Sagicor Group and Jason Bowen, Contact Centre Associate, Client Contact Centre.

Tara Nunes, VP Sales and Customer Experience Sagicor Investments interacting with Bianca Nam (seated), Assistant Manager, Private Client Services and Geoffrey Chong – Client Relationship Officer, Private Client Services.

COVER STORY

Karen Bhoorasinghâ&#x20AC;&#x2122;s

President of Guardian General Insurance Jamaica Limited and President of the Insurance Association of Jamaica (IAJ)

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Promises Made. Promises Kept: Karen Bhoorasingh’s Lifelong Mission

By Dennis Brooks

A Promise. It is a noun. “A declaration that something will or will not be done, given, etc., by one. An express assurance on which expectation is to be based.” [Source: Dictionary.com]

here’s something that seems so philosophically lofty about the word; but then again, not lofty at all. What ought to be a very basic and simple thing - keeping your commitments – has, over time, become so much more.

In a world of unkept commitments, the definition of a promise has changed. Somehow, it has become laden with cynicism and disdain and now represents the comfort that wells up in the heart of the intellectually inferior. Politicians are afraid to use the word promise in speeches and go for all kinds of synonyms, because they’re afraid they won’t sound genuine if they do. Times have changed. For Karen Bhoorasingh, however, promises are still important. In fact, they’re at the very epicenter of everything she has done in her professional career in the insurance business. Today, she is president of Guardian General Insurance Jamaica Limited and President of the Insurance Association of Jamaica (IAJ). She’s the first female from the General Insurance Industry to be elected to the presidency of the association formed from the merger between the Life Insurance Companies Association of

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Jamaica (LICA) and the Jamaica Association of General Insurance Companies (JAGIC) back in 2005. Exactly how she came to spend her entire career selling promises is a beautiful story.

An Early Start

If you’re planning on spending your whole life in one particular career, it always helps to get a good start. Proper guidance from an early age ensures fewer mistakes are made that might derail your goal. Young Karen (then Ramtallie) was given a great head start, having literally been born into the insurance business. “My parents – particularly my mother – ran an insurance agency in May Pen. I would do little summer jobs when I was very young; filing and that sort of thing. Eventually as I got older I would do more meaningful activities in the business. So I really started in insurance. It’s in my DNA; I guess you could say,” she shared. Good insurance genes aside, Karen needed to get the right schooling under her belt. It wasn’t a done deal that she would follow in her mother’s line of work. Growing up in May Pen in Clarendon, one of the best places to nurture

a young talented mind like hers was Glenmuir High, under the tutelage of then principal, Dr. Sydney Scott.

the island in September of 1988, she was just promoted to assistant supervisor for claims at Dyoll.

But she admitted her journey in school wasn’t linear. “To be fair, my academic path was a little confused. I don’t think I knew straight up to when I got to university what my path was going to be. I didn’t know it. I actually was thinking of doing Geography. And then I somehow fell into Public Administration.”

“I was very driven, in that I was doing motor claims but I knew I wanted to be in an expanded role. At that time the department was along product lines. I was very determined that I wanted to do non-motor claims. So I forced my way into non-motor claims around June or July of 1988 and then Gilbert hit in September. I saw Gilbert through and then went away and studied for a year,” she said. Upon returning to Jamaica, Karen went into sales and marketing, which taught her a different side of the business. Although her passion was still claims, she saw an opportunity open up, that represented a critical career-defining move. Peter John Thwaites called her into his office and informed her that the underwriting manager had left. He asked her, “Do you want this post?”

The beautiful thing about her early confusion is that her parents gave her the much-needed elbowroom to find her own way. She revealed, “There was that anxiety about not knowing what you were going to do. But without a doubt, my parents were extremely good about it. They never ever pressured me. It’s even more meaningful because I think their dream was for me to go back into their agency, but they never said it. Some of their friends used to say it, but they never did.” Bhoorasingh further revealed that she came to a critical point in her life when one statement from a family friend ended up making a world of difference, “Somebody once said, ‘Parents must not force their children to live their dreams.’ That completely released me of the pressure.” Where it all began to crystallise for her was after her time in sixth form at Campion College. She decided to take a year off before university. She said that year made her vision for her professional life absolutely pristine. “I worked fully in [my mother’s] business for a year. I think that was the moment for me. And at that point I think I started to recognize that I wanted to do insurance. I worked with her and I enjoyed it. I never left.”

Respecting the Promise

While at university, Karen ensured that she garnered more professional experience. During the long summer holidays, she would continue to work in the insurance industry. However, the final summer was integral in shaping her understanding of what she wanted to do more specifically. “I started that summer at Dyoll Insurance in the claims department in my last year of university and stayed in claims. The motto was ‘The Name that Service Built’ and the whole organisation was built around integrity. That has been my core. A claim is the promise we deliver.” She went on to explain that, “The problem with insurance is that it’s a contract that we’re trying to sell like a commodity. That’s a little bit of the challenge, but it is all about the claim. That’s absolutely what we sell. That’s the promise,” she said.

One Step at a Time

Karen Bhoorasingh has grown exponentially since the time she came into the business as a claims clerk. She’s the first to admit that she ensured she learned as much as she could from the very beginning. Armed with her first degree, she decided to immediately begin studying for her professional insurance exams. By the time Hurricane Gilbert ravaged

For those of us outside of the industry, we might not appreciate the fact that underwriting is the side of the business that separates the wheat from the tares. This is sheep versus goats, lion versus lamb stuff! If you don’t know about it, leave it alone! And yet, she grabbed the opportunity with both hands! “It did scare me a little bit but I believe one of the greatest gifts a parent can give their children is confidence. If you empower them to believe in themselves they’ll be fine. “I never lacked confidence. I never thought it was beyond me. Underwriting was the scariest thing to do. To take it on in a management role, having had very little prior exposure gave me butterflies in the stomach. But I did it.” She not only served in the post, she excelled in it. She moved from underwriting manager to vice-president and eventually to president.

Mentorship

Dyoll was indeed good for her, because it provided her with a network of people who cared for and nurtured her talents and skillset. She singled out one senior for particular praise. “Peter John Thwaites was very much my mentor. Many persons who are successful today have come through his hands. When I studied in England for six months, he paid my plane fare from England to Canada just to have lunch with two re-insurers for two days. That was the investment he thought I was worth.” Aside from that legend of the Jamaican insurance industry, Bhoorasingh said there were others whose influence helped her grow in specific ways. Tommy Smith was the manager of the marketing department and helped show her a softer sales-oriented side. Sharon Brown was Vice President in charge of HR and helped teach her what it means to be a good manager and have good human resource skills. She says former VP for Underwriting and Claims, Paul Bicknell helped develop her technical insurance underwriting abilities; making her into a proper technician.

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Rohan Harris, Assistant V.P. Finance

Del Tolan, Assistant V.P. Technical Underwriting

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Byron Leslie, Assistant V.P. Technical Services

Jason Goldsmith, Assistant V.P. Client Services

Sheraley Bridgeman, Assistant V.P. Business Development

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To this day, she believes guiding younger practitioners is something of critical importance. Yet, she admitted that the role of mentorship in the industry has changed due to the changing nature of the business. “Today, I think it’s a bit more fast-paced. I think the resources that used to be spent on developing people aren’t spent anymore. You pay good money to send people to university to do all these courses but sending people to Europe to do a claims course, they don’t do it anymore because of the demands on return on investment.” Young people rarely ever start off expressing the desire to sell insurance. Among the tiny minority who do, even fewer of them are interested in general insurance. As president of the IAJ, this is something Karen Bhoorasingh is acutely aware of. “The average staff member ‘fell into’ the industry. That is a bit sad and its something we’re trying to change. As part of the IAJ we go to [places like] UWI and speak at their career days. If you do speak to the younger people [who work here], they do like it, once exposed to it. So it’s for us to be able to attract people to the industry, because you can have good careers,” she said.

Evolving Industry

As the Jamaican economy has modernised in response to global imperatives, the insurance industry has evolved. “It has changed significantly. It’s so highly competitive, much more than it used to be in my time. The fact is that even though there are 9 companies in Jamaica, we’re competing with the world. The world has shrunk, in terms of the marketplace but also that the country has been going through challenging times and there’s very little growth. So it’s the same business that’s going around and around,” she explained.

Hallmarks of her Time

When you get to speaking with Karen Bhoorasingh, you realise very quickly that she genuinely cares about the integrity of her clients, but also about the integrity of the institution she leads. She is unapologetically determined to leave her company in a better state than she found it, and noted that grooming people to take over is key to that. “Many CEOs hang on past their time, refusing to know when it’s time to go. I think I would have failed at my job if when I leave I don’t have in place a very good successor. That person will have to be a leader, have humility and very good interpersonal skills because at the end of the day, this is a people business.” Yet, she’s of the view that the ideal leader must already come to the job with the right skillset, because there are some things you just can’t teach. “I don’t think you can ‘make’ a good manager. If you don’t have intuitively good management skills you will not ‘become’ a good manager. I think mentoring and coaching helps if you have the good skills,” she opined.

Selling Peace of Mind

Complex modern societies are defined by uncertainty, anxiety and risk. In this environment, in which only a tiny fraction of us are interested in insuring anything other than our motor vehicles, Karen Bhoorasingh knows what she’s up against. “You’re fighting against the economics. Insurance is disposable income, unless you have a mortgage. The school fees, the supermarket bill and JPS are going to come before insurance…especially for non-motor business. A hurricane or an earthquake happens once every how many years? Therefore, for the moment we have short memories. When JPS is knocking at your door you’re not going to take the premium and pay insurance,” she explained. And yet, she continues to believe in the importance of selling a promise; selling people that peace of mind that they so dearly crave, so that when calamity comes, she can deliver on that commitment. “Claims is not just a process. It’s someone’s life. When you’re home or business goes up in smoke, you’re experiencing the agony and grief of a very real loss. When the storm is coming and the wind begins to blow, our job is about giving peace of mind. Having the assurance of knowing you can be relaxed if something happens, because you’re covered. That’s what its about at the end of the day.” Karen never set out to be the president of the company or the IAJ for that matter. She was simply driven by her passion to deliver people’s claims. When you couple that drive and passion with her sense of faith and purpose, it isn’t difficult to understand why she’s gotten as far as she has. “I honestly believe that if you love it, you will do it well. If you do it well the rest will come. Sometimes you need to let life take you where its going.” The world needs more Karen Bhoorasinghs. More doctors, teachers, taxi drivers, policemen and other workers who genuinely love what they do and are driven by that passion; more people who are clear and single-minded in their focus from an early age and have the confidence to pursue their goals in the face of challenges. Alas these people don’t come along very often. But maybe, just maybe by reading Karen’s story, you can have faith in your passion. Maybe you can come to the understanding that, Monday mornings don’t have to be a drag and you don’t have to hate your job. And maybe still, a promise no longer needs to be defined as ‘a comfort to a fool’.

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FINANCE

JAMAICA BUSINESS DEVELOPMENT CORPORATION

Small Business Exposition And Conference 2014 undreds of entrepreneurs attended the Wealth Magazine sponsored Jamaica Business Development Corporation (JBDC) small business exposition and conference held at the Jamaica Pegasus on May 22, 2014. The 7th staging of the annual event was held under the theme “Positioning MSMEs for the Global Supply Chain”. In addition to providing information that can help business owners to better manage their businesses, the expo and conference was also aimed at informing MSMEs about how they fit into the impending Jamaica Logistics Hub. Here are some highlights of the event.

CEO of the JBDC) Valerie Veira (left) and Minister of State in the Ministry of Industry, Investment & Commerce, Sharon Ffolkes-Abrahams, admires the front cover of the Daily Gleaner dated May 22, in which comments from Miss Veira were highlighted as a result of JBDC’s participation in the Gleaner’s Weekly News Forum.

JBDC Entrepreneur of the Year recipient, Lacey-Ann Bartley (left) receives one of her prizes from Godfrey Biggs, Sales Manager for Enterprise Solutions, Digicel Business. Bartley was selected from a shortlist of three candidates and also received a scholarship from the Project Management Institute to pursue a certificate course in Project Management.

Things Jamaican Purchasing Officer, Helen Watt (left) speaks with a potential client.

NCB Loan Officers providing financial advise to some of the boys from the Alpha Boys Home, who also participated in the Expo.

Executive Director of the Caribbean Maritime Institute , Dr. Fritz Pinnock shares with the audience the importance of the Logistics Hub to the Jamaican economy. Dr. Pinnock conducted a one-hour workshop titled Logistics 101 in which he spoke to the creation and operation of a logisticscentred economy.

Sponsor representatives from left; Paula Marcelle-Irish & Brenda Lee-Tang from ACCA, Tshani Jaja: Jamaica Yellow Pages, Anthony Hylton, Minister of Industry, Investment & Commerce, Jason Corrigan: Digicel Business, Ladianne Wade: Jamaica Yellow Pages, Valerie Veira, CEO of the JBDC, Kerrian Johnson: FX Trader, Sharon Ffolkes-Abrahams, State Minister in the MIIC and Victor Cummings representing the Trade Board Limited.

Executive Director of the Caribbean Maritime Institute, Dr. Fritz Pinnock (seated left) and CEO of JBDC, Valerie Veira (seated right), signs a Memorandum of Understanding between Caribbean Maritime Institute and JBDC which will see both organisations collaborating in several areas including training and workforce development. Also sharing in the moment are (standing from left); JBDC Board Chairman, Silburn Clarke, winner of the Logistics Hub Essay competition and CMI graduate, Poye Robinson, Industry State Minister Sharon Ffolkes-Abrahams and Minister of Industry, Investment & Commerce, Anthony Hylton.

CEO of JBDC, Valerie Veira (centre) engages in an animated conversation with Head of Digicel, Dennis O’Brien (right), who attended the JBDC Expo recently. Digicel Business was the title sponsor of the event. Also sharing in the moment is JBDC’s Deputy C.E.O. Harold Davis (left).

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FINANCE

Dr Peter Phillips Minister of Finance and Planning

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The Community Renewal Programme (CRP)

Advancing the Growth Strategy

Fostering Community Development through Public Private Partnerships

he achievement of economic growth is central to the development of Jamaica and to the resolution of much of its social challenges. For decades, the country has managed to attain what could best be described as anaemic economic growth which has constrained the rate at which our country has been able to develop. We are now determined to reverse this trajectory of economic and social underdevelopment by embarking on a programme of unprecedented sustained reforms that will transform our country into a model of high growth and development. To this end, we have curtailed public spending and embarked on a programme of debt reduction that has been accompanied by a menu of interventions designed to induce growth and promote holistic and sustainable development. We recognise that there is interdependence between social transformation and economic growth; and in this regard, our interventions extend beyond the purely economic horizons to include programmes geared towards social transformation that will positively enrich the lives of our citizens and improve their circumstances. The Government of Jamaica (GOJ) has been partnering with International Development partners including the European Union, through its Poverty Reduction Programme (PRP), the World Bank through its Inner City Basic Services Programme, and the United States

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Poverty Reduction Programme III signing with (l-r) Dr Eleanor Henry, Programme Manager, Finance Minister Peter Phillips, Prime Minister Portia Simpson-Miller, European Union, Head of Delegation, Paola Amadei. The European Union is the Flagship IDP partner of the Community Renewal Programme.

Agency for International Development through its Community Empowerment and Transformation programme towards socio-economic empowerment and security, to give support to the CRP as the main engine for economic and social transformation among citizens in vulnerable and volatile communities across Jamaica. The programme provides a platform for coordinating and designing interventions among participating agencies to achieve sustainable development in these communities. It should be noted that the CRP does not merely seek to identify ways in which the situation of vulnerable individuals may be ameliorated through welfare programmes but more so, it seeks to enable these individuals to be able to support themselves and accept primary responsibility for their advancement through various programmes for empowerment and behaviour change. Apart from various departments of government, the programme is fostering partnerships with civil society groups,

public and private sector entities including DIGICEL, Gas Products Limited (GAS PRO), Pepsi Cola Jamaica, the Environmental Health Foundation and the Jamaica Public Service among others. It is expected that the CRP interventions will unlock the natural creativity and entrepreneurial spirit in targeted communities throughout the island as a foundation for organic and sustained development and identify positive alternative options among vulnerable citizens in these communities. We are, therefore, grateful for the support of Wealth Magazine in the promulgation of this programme. We invite the support and participation of other private sector groups to help in the transformation of our target communities from zones of exclusion, with low participation in the formal economy, into self-sustaining communities that are able to legitimately participate and fully benefit from involvement in the formal economy and mainstream society.

Gas Products Ltd. is a leading private sector organisation that has stepped ‘out of the box’ to not only engage communities through Corporate Social Responsibility initiatives but also to implement a customized strategy for brand/product integration through the cooking competition. By providing activities that stimulate the creativity and productivity of residents, the company has extended its reach even beyond increased sales to building sustainable relationships and strong brand recognition. Sales representatives and community members are now on a first-name basis and the Gas Pro brand is seen as an essential part of food preparation both in the home and “on the corner”. The Planning Institute of Jamaica, Community Renewal Programme (PIOJ/CRP) community forum, (l-R) Barbara Scott, Deputy Director General (PIOJ), Dr. Dwayne Vernon, Executive Director, SDC, Hon. Minister Noel Arscott, MLDG, Member of Parliament Desmond McKenzie and Her Worship, Mayor Angella Brown-Burke.

What is the Community Renewal Programme?

The CRP was conceptualised on the premise that security, justice and community economic well-being are necessary for the sustainable development of Jamaica’s communities and the country as a whole. Thus through a collaborative, bi-partisan and multi-stakeholder approach, the CRP was established as the coordinating arm for social intervention in vulnerable communities across the island.

The collaboration facilitated by the CRP has offered three main benefits to Gas Pro, which are available to other private sector companies: (1) The CRP has assembled all key stakeholders around one coordinating table. (2) The relevant government agencies have been playing their roles in offering their services - usually at no cost to the company. (3) Official endorsement by the government which has lifted the company’s initiative to a higher place of significance thus enhancing public relations and broad-scale impact on the ground.

The CRP is inter alia: 1. A mechanism for coordinating socio-economic intervention of vulnerable communities. 2. A means of identifying developmental gaps and developmental priorities for these communities (data driven mapping). 3. A way of mobilizing resources to support intervention of these vulnerable communities. 4. Designing and piloting intervention programmes. The CRP is fully aligned with Vision 2030 Jamaica (V2030) which has been established as Jamaica’s accepted framework for medium to long term planning for sustainable development.

Partnerships

One of the key strategic objectives of the CRP is building partnerships among state and non-state entities, by engaging in partnership agreements, such as Memoranda of Understandings (MOUs), with key stakeholders in the renewal process. To date over 10 MOUs have been signed with several government entities as well as tertiary level institutions. The CRP also interfaces with other private entities such as utility companies.

Gas Pro “Street Style Cook-up” Stakeholders meeting at the PIOJ.

Non-Government – Environmental Health Foundation (EHF)

The private non-profit entity EHF has also collaborated with the Planning Institute of Jamaica (PIOJ), on the implementation of the project: “Reviving and Renewing Majesty Gardens, St. Andrew, through Proper Parenting, Nutrition, Climate Change Adaptation, Disaster Risk Management and Environmental Management.” This project, which is a subset of the wider CRP, has enabled the benefits under the Public-Private Partnership (PPP)

Generally, MOUs between the CRP and its stakeholders are developed and signed using an approach which allows for participatory and collaborative implementation of programme interventions, in the targeted vulnerable and volatile communities; thus ensuring a more holistic, sustained development and community transformation is achieved.

Private Sector engagements: Gas Products Limited

In building and promoting public private partnerships, the CRP has recently partnered with Gas Products Ltd, towards implementation of an entrepreneurial project dubbed “The Gas Pro Street Style Cook up” in the CRP community of Southside.

l-r: Mrs Latoya Aquart-Foster, Project Manager,EHF, Nikeisha Lee, Executive Assistant, EHF, Charmaine Brimm, Techical Specialist, PIOJ/CRP and Novlet Deans, CEO EHF Group of companies.

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to come to life in a way that is intrinsically linked to community rehabilitation and development. The EHF recognizes that two critical focal points of the GOJ, which are growing the economy and creating employment, can be achieved through targeted interventions at the community level. Additionally, GOJ relies on strong partnerships to maintain the gains of previous years and to be effective in decreasing the major threats to national development. Moreover, they also seek to implement effective development projects while sharing the risks with private sector partners. The PPP between EHF and PIOJ, therefore, provides a prodigious opportunity for national goals to be achieved, in line with the objectives of the CRP as well as Vision 2030.

talents and resources to be found not only within the residents but also their communities. These community assets must be unearthed and brought to the fore to allow full access and participation in main stream society. In this regard, a number of initiatives are being undertaken under the umbrella of the CRP. Among them are initiatives aimed at improving the socio-economic status of residents. This gives recognition to the fact that without the capacity to earn and produce; other goals for development cannot be achieved. Initiatives include improving the educational and skill levels of residents and assisting them in accessing and/or creating employment opportunities. This approach must identify and optimise the use of the assets of vulnerable and volatile communities which may exist and transform these attributes into wealth creating and income generating opportunities.

and inclusive approach, involving all relevant state and non-state actors. These types of collaboration, with a strong impetus on public private partnerships, are necessary in order to achieve the outcomes of empowered and prosperous communities and by extension Jamaica. To this end the concept and praxis of the CRP are integral to facilitate effective and sustainable social transformation consistent with Jamaica’s growth agenda and medium to long term planning objectives.

Such initiatives therefore must focus on: 1. Promotion of income generating activities including job placement. 2. Improved access to training and education. 3. Exposure to life skills including social skills. 4. Integration of residents into the formal economy. 5. Identification and provision of information on support services.

Charmaine Brimm: Technical Specialist:Socio-Economic Development, who overseas the coordination and implementation of socio-economic projects, such as JBDC’s Tale project, in CRP communities

Advancing Socio-economic Development

The need for empowerment of residents of volatile and vulnerable communities has become the primary focus of the CRP; as one main action towards achieving Goal #1 of Vision 2030 Jamaica: “Jamaicans are empowered to achieve their fullest potential”. The renewal, development and integration into society of disenfranchised and vulnerable communities across Jamaica are among the nation's most pressing needs and aspirations. The socio-economic realities of our society have somehow served to overlook the hidden and untapped

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One such project, which enables the preparation of our communities to become wealth creators and income generators, is the Jamaica Business Development Corporation’s Transforming Lives through Enterprise (TALE) Project. The JBDC/CRP TALE Project was designed to improve existing income generating activities and support the development of new businesses through capacity development and monitoring. The TALE project aims to change the life story of the targeted beneficiaries by merging personal development and entrepreneurial principles to support the overall objective of changing lives through enterprise.

The Final Analysis: CRP’s Goal

It is recognized that fostering community development and achieving community transformation requires a multi-faceted

Graduates of the JBDC’s Commercial Cooking workshop posing with (l-r) Keera Walters, Assistant Manager, Business Advisory - JBDC and Charmaine Brimm, Technical Specialist: Socio-economic Development, PIOJ/CRP.

It can be said therefore that achieving sustained economic growth, thereby creating a prosperous Jamaican economy, will only happen through continuous partnership building, including engagement in more fulsome public private partnerships, which will, among other things, result in the kind of community and societal transformation that will make Vision 2030 Jamaica a reality. Thus, through the CRP, our Goal is to ensure: “Citizens in vulnerable and volatile communities are empowered to live full and satisfied lives in, and contribute to the attainment of secure, cohesive and just communities with healthy environments." (in accordance with the four goals of Vision 2030 Jamaica). Credits:

Colin Bullock: Director General, Planning Institute of Jamaica Charmaine Brimm, Technical Specialist: Socio-Economic Development, PIOJ, CRP Carrington P Morgan: Strategic Director, CarringtonDirect, Project Management Services Keera Walters: Assistant Manager, Business Advisory, Jamaica Business Development Corporation Novlet Deans, CEO and Group Director, EHF Group of Companies.

FINANCE

Using

In A Competitive Economy

ompanies thrive on making profits to remain competitive in any economy; therefore, each business owner or CEO must implement the right strategies to achieve a competitive edge above their competitors. Although some economies are dwindling, businesses can survive by doing a number of things that will help to boost sales and put them in a position of high demand. Strategic marketing in a competitive economy forces businesses to constantly find and implement new marketing plans that will help them to generate greater profits even in a weak economy and in the face of fierce competition.

What is marketing strategy?

Marketing strategy involves putting together an attractive package that is geared at addressing the needs that consumers face. Companies that employ marketing strategies must find reliable ways of concentrating resources and take advantage of opportunities that present themselves in an effort to achieve a successful outcome. This usually involves long-term plans aimed at achieving a particular marketing objective. To achieve a marketing objective in a competitive economy, companies must implement strategies or methods to

By Lancelot Tucker

reach their business goals. They must also deploy valuable resources and create opportunities for interactions with competitive firms that function within the same market economy. To get the best results from the allocation of valuable resources, organisation assessments must be done to bring about awareness. These organisation assessments should focus on: 1. What actions the organisation is planning to take and what it hopes to achieve. 2. The overall mission and strategy of the organisation. 3. What objectives it has in terms of long and short term thrusts. 4. The resources it has available and any further requirements necessary. 5. A review of strengths, weaknesses, opportunities, and threats that are either necessary or may cause hindrances in reaching the objective. 6. A review of policies and norms. 7. Past performances of the organisation. 8. The capacity of the organisation to achieve all its objectives.

Benefits of strategic marketing

Many companies are able to take advantage of a number of strategic marketing actions in their quest to increase

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profits. By having a reliable strategy in place, CEOs are able to create a plan that will enable the company to thrive instead of just survive.

The benefits include:

A broader view: To stay profitable in a competitive economy, companies must have a broad view of what is happening in their environment as well as in external markets. However, a business owner or CEO must not make the mistake of focusing on the wrong things in an effort to grow their business. Instead, he or she must examine the capabilities of the business and must adhere to constructive criticisms in an effort to improve efficiency.

Company changes: A workable strategy is designed to see ahead and examine the type of changes that may be necessary in the future. Since economies change, the business owner or CEO must be prepared to move along with those changes, even though he or she might not be able to predict when they will happen; yet it is better to be prepared. Conflict reduction: Companies often experience inner or outside conflicts. Inner conflicts might be a misunderstanding between management and staff while outside conflict might have something to do with customers or tax collectors. Planning ahead of time can provide a clear path for the company to follow when there is a misunderstanding.

economy. This ability to communicate effectively will further aid them in marketing their products better.

Strategic planning will make company leaders think: To be successful in the marketplace, one has to have

the ability to think about what changes customers might require, what new ventures the competition might be planning, his or her own companyâ&#x20AC;&#x2122;s strengths and weaknesses, and any future changes the market might undergo. Proactive thinking can prevent a company from losing customers.

What are competitive strategies?

Businesses are always striving to achieve a competitive edge in the niche market they belong. Therefore, to find that modest edge required, they must achieve a competitive advantage in the market. Marketing products in an effective manner can give businesses a firm foothold in any economy. Trying to find a competitive edge in the market is what encourages every business innovator to continuously look ahead in an effort to implement strong marketing techniques to win the confidence of consumers.

In business, a CEO or proprietor can get the job done by using three main competitive strategies. The three strategies are: differentiation strategy, cost leadership and focus strategies.

Consistency: A planned strategic marketing strategy will To implement a differentiation strategy, one must find bring about consistency on the part of the company operating in the economy. With a strategy in place a company is likely to meet the stipulated requirements in terms of agreements with stakeholders.

Customer focus: Since successful marketing starts

with the customer, a company will try hard to understand the consumers that buy their products. This is why some companies are forced to do an in-depth analysis of their customers to better understand their needs.

Efficient resource allocation: Each company is better

able to identify its resources after implementing a strategy in an effort to achieve certain goals. This will make business leaders better able to define which products to develop or push ahead and which ones to scrap.

Identifying competitive advantage: To own and run a successful business, one must be able to identify factors that threaten the market before it is too late. Therefore, to foresee marketplace threats in any economy, company leaders must develop environmental strategies. Communications

improvement: Each business leader must know who to communicate with and what to communicate to customers and other key players in a market

ways and means to market the companyâ&#x20AC;&#x2122;s products differently from all other businesses that are in the same market. Once consumers become attached to a certain product, the business owner can use buyer preference to market that same product effectively.

Cost leadership allows business owners to produce lower

cost products than those of their competitors. This kind of strategy is especially useful in deciding the price of a product in a particular market. To attain effective cost leadership, company managers must do an in-depth investigation of one or a number of cost-creating activities to find any driving factors that help to determine the price of that product.

To stay competitive in any economy, companies must also employ a focus strategy method whereby they must expand their influence into some of the most narrow markets or industry sectors. To get the full benefit of a focus strategy technique, a company must have competitive products to satisfy the demand of consumers. Taking advantage of proper strategic marketing techniques is the best and safest way companies can gain a strong foothold in the market in which they operate. Thus, it behoves each company to research as well as invent new ways to win and maintain consumer confidence.

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FINANCE

Pictures. Profiles. Personalities

Members of the Stewart Motors team stand beside the breathtaking BMW M235i

David Strachan, BMW Sales Executive; Entrepreneur Sandor Panton; and CMEâ&#x20AC;&#x2122;s Chairman Garth Walker at the unveiling of the BMW M235i in Kingston.

(r-l) Director, Marketing Janet Sylvester, Patricia Lewis and Nichola Hawthorne from the Cross Roads branch getting their hands dirty as they plant trees in Fern Gully on Labour Day, May 23.

Janet Sylvester, Director Marketing speaks at the launch of the Jamaica Epicurean Escape Festival at the Countryside Club in Kingston on April 30

Members of the COURTs team pose for our camera at the Epicurean Escape Festival in St. Ann on May 24.

Broadcaster Jerry D (left) strikes a pose with singer Mario Evon at COURTS birthday celebration at the Constant Spring branch on May 15, 2014.

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(l-r) FX Trader's Marketing Manager Kerrian Johnson, Sales and Trading Manager Richard Blake and CEO of the JBDC Valerie Viera looks at Denniston Brown, the winner of the Market Me- S.M.E Promotion. Brown won $500,000 of advertising for his business - Niche Financing - courtesy of FX Trader.

CME Chairman Garth Walker (left) chats with Desron Graham, Branch Manager NCB Washington Boulevard at the May launch of Smirnoff's flavoured vodkas.

Sales Executive Latoya Taylor (seated) listens intently to a visitor to Wealth Magazineâ&#x20AC;&#x2122;s booth at the JBDC Expo

(l-r) FX Trader's Marketing Manager Kerrian Johnson and Sales & Trading Manager Richard Blake being greeted by Industry, Investment and Commerce Minister Anthony Hylton at the JBDC Expo on Thursday May 22.

Intcomex Jamaica and Samsung executives take time for a photo op at the Samsung Printing Solution Grand Launch and introduction of the first NFC-enabled colour laser printers and multi-function printers. From left are Emelia Chen, Samsung Product Manager for Consumables; Jodian White, Category Manager, Intcomex Jamaica; Claudia Bermudez, Sales Manager at Intcomex Jamaica, and Samsung Representative Manuel Rendon, EB Regional Sales Manager, Caribbean.

A representative from Tax Administration Jamaica speaking with a JBDC Expo attendee.

Book us now for your next corporate event. Contact: tricia@cmeja.com or (876) 754-2075. For full album visit www.facebook.com/wealthmagja

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FINANCE

Joan Ferreira-Dallas: Rising Above Poverty To Wealth

By Shanica Blair

etermined to break out of the cycle of poverty in which she was born, Joan Ferreira-Dallas made use of the little resources available to her as she started a journey which would result in her becoming the Chief Executive Officer of Abtax (Accounting, Business & Taxation Services) Limited. Joan, who was one of seven children raised in a single-parent home, was never daunted by her circumstances. Her mother was unemployed and it was her grandmother who assisted her family. “It was very difficult; we knew how to go to bed hungry at times, how to go to school without shoes or to wear each other’s worn uniforms even to high school level. I felt the embarrassment of joining the special line for government poverty assisted lunch each day and to be looked at with disdain by my friends at school”, she told Wealth Magazine. Despite missing out on doing Common Entrance Exams because her family had to change locations several times, she remained determined as she pushed towards her dream of owning her own business.

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While in grade 8 she convinced her teacher to allow her to sit the Grade Nine Achievement Test where she passed for Mount Alvernia High School and was placed in 3rd form. “I stayed up late at nights reading with the lamp even up to 6th form level. It was really very difficult, but I made no complaint, I wiped the black sooth from my nostrils after study and moved on. We had no television, but we knew all the children at school had. We just could not afford one.” She explained that despite the odds against her, she was determined to break the poverty cycle. “Every day after school, I walked down the Alvernia hill and went straight to the library across the street. I would read books about anything and everything after doing my homework until closing time because I did not want to go home too soon”.

Joan Ferreira-Dallas and members of the Abtax team.

recently been approved as a Business Development Organisation to Her never ending visits to the library helped pave the way participate in the Voucher for Technical Assistance project following for her excellent English speaking and writing skills with her evaluations by the Development Bank of Jamaica. efforts duly rewarded at school. The services offered by Abtax have increased tremendously and as a result a branch was opened in Montego Bay, St. James in January After graduating from 6th form she got a job with the Income 2014 to meet the needs of small business enterprises in that part of Tax Department and worked in the Montego Bay branch for the Island. one year. She was then transferred to the Kingston office in order to attend the University of the West Indies. There For Joan Ferreira-Dallas education and adversity and her openness she completed her degree in economics and management for divine intervention have been the driving factors behind her while she worked. journey towards wealth. “I got married just after 6th form and we both moved to Kingston and lived off Mountain View in the ghetto for about two years. I had our two children while working and studying.” Joan was so determined to pass her exams that she went to one sitting the day after giving birth to her son!

After working with the Revenue Department for more than 15 years as a tax auditor and a revenue agent, Joan started her own private business, AbTax Limited in 1989. The company offers accounting, business and taxation services. “After leaving the tax department as a revenue agent, I worked full-time at various companies and started building the business remotely at the same time.”

She is an accountant, with a Masters in Business Administration (finance specialisation), from the Nova Southeastern University (Florida). She was recently qualified as a Certified International Taxation Analyst and was awarded Fellow of the American Association of Financial Management. “I have along the way, helped several people, including taking in other people’s children and sending them to school. The Lord has for this showered me with blessings and everything I have put my mind to has been positive.” She brings a fresh approach to accounting services and is presently seeking designation to the Association of Chartered Certified Accountants and is also well advanced in completing the Bachelor of Laws from the University of London (specialising in corporation/ commercial law).

She explained that as with most businesses, Abtax started out slowly. “While trying to get my company on its feet, I moved on to the Wheels & Wheels Group of Companies as finance director, where I was instrumental in increasing the company’s growth and profitability significantly.” She said due to her effectiveness her boss allowed her to use an area at the back of one of his businesses, rent-free, as office space for Abtax. The success of the business is on point and the company has

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Joan and her husband Wilbert James Dallas, who is also the company's operations manager.

FINANCE

Jamaica, O the hub of the Caribbean By David Mullings

ne of the best books on economic development that I have ever read was From Third to First by Lee Kuan Yew, the former Prime Minister of Singapore. Lee, a visionary, steered his tiny country with British colonial history, limited resources, large natural harbours and proximity to a giant economy, towards greatness as Jamaica muddled through after 1962.

While there are notable differences between the two countries, our push for Jamaica to become a logistics hub, with Singaporean companies as partners in some cases, will definitely be based on Singapore’s lessons, combined with those from countries in the Western Hemisphere like Panama. With the seventh largest natural harbour in the world, it should be no surprise that history has seen Jamaica become the hub of the Caribbean numerous times. The Spanish viewed the island as central to their fortunes since Columbus landed and the British eventually fought to capture it. Our history shows us the path for the future because Jamaica was a key transshipment point for goods moving from Latin America to Europe, for slaves coming from Africa to North America, for pirates looking for a central location to be based, and the prize for the United Fruit Company that made Port Antonio what it became thanks to “green gold”, otherwise called banana. Port Royal was the most economically important port in the Americas in the 17th century. Under British rule, Jamaica produced more than 22% of the world’s sugar. Not only was our climate perfect for it but our access to shipping lanes and multiple markets made us a prize among British colonies, rivaled

only by India. That explains why we were the first colony to receive a post office in the Western Hemisphere, 12 years before the United States. History repeats itself and Jamaica will reclaim that importance. We are centrally located to access all key markets, have trade agreements with the biggest markets and are already known as a respectable port of call. Jamaica also happens to be the hub of creativity in the Caribbean. All the other islands play our music more than their own. When I interviewed the former Transport and Works Minister Mike Henry for my film on the Jamaican railway he laid out a vision for Jamaica that resonated with me.

A multi-modal aproach Vernamfield is larger than Manhattan and has five runways, one of which can land the largest plane in the world, the Antonov. It was a US base where the Marshall Plan to Rebuild Europe after WW2 was written. Combine that with the fact that if you exit the Panama Canal which is being widened, you go straight into Jamaica if you do not change course. Imagine a transshipment hub where Post-Panamax ships too big to make port on the East Coast of the US stop in Jamaica, unload cargo in Kingston Harbour to rail, which then carries it to Vernamfield where it is broken down, sent back to the ship and sent on their way. Take that to the next logical step where value-added work is done in Jamaica such as shipping the car engine from Germany, car body from Mexico and other parts from China, meeting up in Jamaica just in time to be assembled and shipped to Miami or any other East Coast US port. The same for smaller electronics like computers, tablets and cellular phones. Thinking bigger, we sold Air Jamaica but kept the Air Jamaica Maintenance Unit which serviced airbus planes (Caribbean

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Airlines flies Boeing planes). If you own an airbus plane in the Western Hemisphere then major servicing requires that you fly it to Europe or Singapore. Singapore has expressed interest in partnering with Jamaica to create a servicing hub right at Vernamfield that would include a school. The fuel cost savings alone would make it a logical destination for airlines in this hemisphere.

My vision for Jamaica as a hub is best outlined by our latest ventures. Palisade Group recently signed on to exclusively represent AMPS, a US-based designer of power generating systems owned by Triple Five Group, the owners of the Mall of America. This venture intends to help companies lower their cost of electricity like AMPS has done for Atlantis Resorts in the Bahamas.

Then consider the fact that international travellers from South and Central America flying to Europe must get in-transit visas and fly through Miami. Jamaica has open skies agreements with over 20 countries in the Western Hemisphere. An international airport at Vernamfield specifically designed to handle such throughtraffic would give Miami a serious run for its money as there would be no need for in-transit visas.

The longer-term vision is to open a factory in Jamaica that can manufacture and ship the systems to other Caribbean countries and Latin America. The location is far better in terms of time to market for these custom-designed systems, thus reducing costs.

Singapore’s Changi International Airport does exactly this and is a major air hub in Asia. It handles some 53 million passengers per year, more than 10 times the local population! We are busy patting ourselves on our back for achieving 1.1 million stopover visitors when countries the size of Kingston are thinking bigger and executing better than us while having to import water and fruits because they have no natural resources. For almost 4 years I wrote about these kinds of big, audacious goals in my newspaper column while quietly working on ventures that could take advantage of the opportunities I was laying out publicly. In partnership with my brother Robert, our family office, Keystone Augusta Group, has sought out partnerships and launched our own companies to take advantage of my vision for Jamaica as a hub.

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Palisade Group also quietly launched a subsidiary to be the exclusive partner in CARICOM for Barefoot Power, an Australian-based manufacturer of solar lamps and lighting. They were awarded the Lighting Africa Outstanding Product in 2010 as well as many other awards for their solar-powered LED lamps. Instead of asking for distribution rights only, we negotiated for Barefoot Power to make us their Caribbean hub, with all

orders for the Caribbean region going through us instead of customers having to wait weeks for products to ship from China via sea. Finished products can be landed and warehoused in Jamaica, preferably in a special economic zone, and then smaller orders can be filled for clients in the region. Our goal is to eventually do final assembly for these kinds of products in Jamaica so that we can become more of a justin-time supplier, eventually servicing all of the Western Hemisphere. That is the real value of logistics; assembling finished products in Jamaica and then being able to ship quickly. But Jamaica cannot become the hub it should be if many entrepreneurs are not able to secure sufficient capital to create the products and services that will take the positive aspects of Brand Jamaica to the world in a way that sees a greater share of the profits remaining local. Let us move past sugar, rum, bananas and bauxite. Sustainable and value-added, nonextractive industries are the way of the future. Each of us as children recited the pledge and promised that we would “work diligently and creatively, to think generously and honestly, so that Jamaica may, under God, increase in beauty, fellowship and prosperity, and play her part in advancing the welfare of the whole human race”. Let us show a renewed commitment to that pledge in 2014. David P. Mullings is a Managing Partner of Keystone Augusta Group, a single family office which manages a portfolio of investments covering companies involved in investments, private equity, music, film, animation, mobile apps, clothing, energy production and sustainable technology.

FINANCE

Things To Know

When Choosing A Marketing Research Company

re you seeking a vendor to conduct your next marketing research project? If so, remember that not all marketing research firms are created equal so it is extremely important that you have a mechanism for sifting the ‘rose from the thorns’. Below are ten points you may want to consider:

. Is the research provider a legal entity? That is, is the research provider registered with the Companies Office of Jamaica and are they a registered tax payer? If the answer to this question is no, you could be conducting business with a company that is breaking the law, which could have harsh repercussions for the image of your company.

By Trevor Thompson . What are the qualifications of the person

managing your project?

We know you would not seek medical advice from your shoemaker, and this is the same approach you should take when purchasing marketing research. In other words, you need to know that your research project is managed by qualified professionals. The truth is, anyone can pretend to be a marketing researcher but are they qualified and certified? Qualification and certification should not be used interchangeably. For example, if someone has a degree in marketing research this does mean they have the certification/experience or practical knowledge to execute a marketing research project. Therefore, while qualification speaks about someone’s academic achievements; certification speaks about Cont'd on page 70

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their demonstrated ability to execute a marketing research project.

. Will any aspect of the project be sub-

contracted?

The research firm may decide to sub-contract any aspect of the research process such as research design or fieldwork. However, you may not have any knowledge about the credibility of the sub-contractor. Therefore, it is important that you ask your research provider to specify if any aspect of the project will be sub-contracted.

. How will the company protect your data from unauthorized users?

Data theft is a multi-billion dollar business and if the data collected in your research project is not properly guarded it could end up in the hands of your competitor. You need to ensure that the research company has a secure and robust system for storing information on your research project. However, the importance of a sound information storage infrastructure reaches beyond data theft to include backing up the information so that it can be retrieved at a future date. A good research company should have multiple storage mechanisms for your information.

. Is the proposal comprehensive enough? The formal proposal submitted by the research provider is similar to the ‘blueprints’ for a house where the quality of the blueprint determines the quality of the house. So it is with the research proposal – the quality of the proposal determines the quality of the research project. For example, as the former head of the Business Analysis Unit at a multinational firm, I would receive proposals which did not specify how incomplete surveys or missing data would be managed. This is important because if missing data is not managed properly the results in the final report could be completely inaccurate.

. Does the company provide its client with

a signed copy of its code of ethics?

Every research company should present a signed Code of Ethics document to their clients. This document should specify the ethical standards the research company maintains when dealing with you the client, its staff and the general public. For example, the Code of Ethics would address the steps taken to maintain the anonymity of the persons being interviewed.

. Does the research company have multiple

data collection methods?

A good research company should have the latest technology infused into their operations; which means that their data collection tools should go beyond paper surveys to include other methods such as tablets, smartphones, email and internet.

. Can they justify the price they charge for projects?

You would be surprised about the margin that some research companies charge to complete a project. Moreover, if you request that they provide a breakdown of the charges you may find that you are being overcharged. The recommendation is to ask for a breakdown of the charges included in the project instead of one total figure.

. What is the marketing research company’s

pricing mechanism?

A marketing research company may quote what seems to be a very competitive upfront cost for a project but be wary if there is a line item known as incidentals or unforeseen expenses. This is a line item which some companies may use to increase their profit margin on a project – which has an underlining unethical tone to it.

. How good is their customer service? By good customer service we mean:

• They are readily available to answer questions. • They provide multiple means of contact – telephone, email and internet. • They provide consistent progress report as the project unfolds • You get a feeling that they are genuinely trying to make your experience with them pleasant. This information could be used to develop a research vendor assessment form to be used when choosing between multiple vendors. You could also assign a weighting and score system to each component to arrive at a total score. In the end, the vendor with the highest score would be the winning supplier. Trevor Johnson is the Managing Director of Vision Research Caribbean Limited.

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Fx Trader Gives Business Owner $500,000 Worth Of Advertising

ne lucky business owner is to benefit from $500,000 worth of advertising courtesy of FX Trader, the foreign exchange place from GraceKennedy Money Services. Denniston Brown, General Manager of Niche Financing was on Thursday May 22, 2014 declared the winner of FX Trader’s Market Me – S.M.E promotion. The one-day promotion was held during the Jamaica Business Development Corporation’s Expo at the Jamaica Pegasus Hotel. The event themed 'Positioning MSMEs for the Global Supply

Chain', was attended by many owners of micro, small and medium enterprises (MSMEs) seeking information on how to better manage their businesses. The Market Me – S.M.E promotion was part of FX Trader’s ongoing efforts to show its support to local MSME’s. Minister of Industry, Investment and Commerce Anthony Hylton has commended FX Trader for undertaking the promotion. “Marketing is one area that we have to pay special attention to. If you have a good product and it’s not marketed appropriately then consumers won’t know about your product. I want to congratulate FX Trader for doing

Fx Trader's sales & trading manager Richard Blake shakehands with Denniston Brown while Marketing Manager Kerrian Johnson and JBDC CEO Valrie Viera smiles at the men.

something very helpful and positive for MSMEs.” In the meantime, Brown said he’s happy he won the promotion particularly in these challenging economic times. “It will help boost our advertising which is very essential in a competitive market environment.” As part of the winnings, Niche Financing is entitled to advertising spots on RJR FM, FAME FM, Nationwide Radio, Power106 FM, LOVE 101, and IRIE FM as well as in the Jamaica Observer, Wealth Magazine and on GraceKennedy Money Services’ Facebook page.

Industry, Investment & Commerce Minister Anthony Hylton greets an FX Trader employee as Marketing Manager Kerriean Johnson looks on.

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FINANCE

Jamaica & the

t the conclusion of a mission by the International Monetary Fund (IMF) to Jamaica during May 5-16, 2014, Mr. Jan Kees Martijn, the IMF’s mission chief for Jamaica, issued the following statement in Kingston: “The economic outlook is improving. Since the start of the program in early 2013, crisis risks have receded, growth has picked up, net exports are stronger, inflation has been brought under control, and reserves are starting to recover. Economic activity is tentatively estimated to have expanded by 0.9 percent in 2013/14, with year-onyear growth amounting to 1.6 percent in the first quarter of 2014. Consumer price inflation moderated to 7.6 percent in April. The unemployment rate declined to 13.4

IMF By Ryan Strachan

percent in January 2014, down from 14.9 percent in October and from 14.5 percent in January of last year. The current account has shown an ongoing improvement, and net international reserves increased to US$1.3 billion by end-April (with gross reserves at US$2.1 billion, equivalent to 3½ months of imports). The execution of the 2013/14 budget has been broadly on track, as the shortfalls in tax revenues due to weak economic demand were offset through strict expenditure control. The 2013/14 central government primary surplus amounted to 7½ percent of GDP, as planned.” One may be inclined to review this and be ecstatic that we have passed another test, but in truth, there is not much to rejoice about, except for the fact that, a lot of rubble has been cleared, and perhaps the ground is a bit smoother than before. The

unfortunate reality is that, with all of this done, as a nation we now have a lot of building to do. According to the World Economic Outlook published in April 2014 , Jamaica’s GDP is projected to grow at the rates of 1.3% in 2014 and 1.7% in 2015. When one contrasts this to China’s Q01 2014 ‘underwhelming’ GDP growth of 7.4% which was their lowest in many years, it shows just how far we have to go as a nation. Admittedly, all said, Rome was not built in a day. It was comforting to read of unemployment falling to 13.4% as per January 2014, but it is also worth mentioning that the USA’s unemployment rate is now 6.3%, and there are still questions as to whether or not their economy has recovered from the 2008 financial crisis. In this corner, you

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our current GDP goes towards servicing debt, and 73% of the remaining 57% goes towards public sector wages and salaries. Is it any wonder that the size of the public sector continues to surface in discussions both on the nation’s radio and on various patios in the suburbs of Kingston? One would be inclined to think not. For the status quo to be altered, the aforementioned will have to be changed. Jamaica, as a nation will need tax reform to ensure that more revenue flows into the coffers of the Government, and as such, we will be able to fix our roads, retool our hospitals and modernise our infrastructure. A strong infrastructure is the mother of economic growth, and it cannot be any wonder that Digicel has come to Jamaica and unearthed viable business by virtue of our telecommunications systems. One is inclined to dream of what a public health system driven by similar funding would be able to achieve! If we don’t get the revenue from taxes, there won’t be anything to spend, and unfortunately, it is a cycle which only goes further downwards. Public sector transformation is critical, and must be on the front burner for the 2014/15 fiscal year. The efforts of all stakeholders thus far must be applauded, for we as a nation have to start somewhere, and it is commendable that the fall in tax revenues was matched by a cut in spending. The IMF recognises that this state of affairs is not sustainable, and as such, must be complimented by organic economic growth. Tax reform which drives consumption and thus increases the inflow of revenue is of critical importance and should contribute to the desired results. If one were to use Greece as an example, austerity measures were appropriate only for a short period of time before the rot continued and the slide into further economic doldrums hastened. The devaluation of the Jamaican dollar relative to its foreign counterparts is disturbing and not surprising given the extent to which the nation relies on imports for survival. Prior submissions to Wealth Magazine contain statistics concerning the balance of trade, which won’t be repeated here, but it is important to note that export revenue and foreign exchange earnings will contribute tangibly to the efforts of all stakeholders to correct this problem.

will find one who is among the sceptical concerning this ‘recovery’ and one who holds to the belief that 280,000 jobs added in April 2014 does not a recovery make. All said, the time has come for the Federal Reserve to taper it’s 3rd round of Quantitative Easing and allow the economy to stand on its own two feet. Digging deeper into Mr Martijn’s analysis, another worrying sign is that of a shortfall in tax revenues. One reading the link posted on the IMF’s website will recognize the barely-veiled reference to the need for pension reform in the Jamaican economy and appropriate fiscal policy (government spending and tax packages). The implications for a shortfall in tax revenues are dire for a nation which is over-leveraged (with debt to GDP being north of 125%) and being no longer able to borrow. Forty three percent of

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This is a matter of will and facilitation. The steps taken by the Minister of Finance in revising the tax package concerning the GCT charged on services provided by overseas consultants and withholding tax on insurance premiums paid to overseas providers are laudable for they discourage external contractors or make it more expensive, whilst giving local providers added incentive to do business. One only hopes that this continues to hold true with the importation of goods and other services and the support for local exports. http://www.imf.org/external/np/sec/pr/2014/pr14230.htm http://www.imf.org/external/pubs/ft/weo/2014/01/index.htm

Economics “If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.”

― John Maynard Keynes

How do you keep your business relevant and foster growth during tough economic times? The key to the success of any business revolves around listening to the needs of its clients. At KingAlarm, we are constantly soliciting feedback from our customers and tweaking our service delivery thereby ensuring that we meet, and in fact exceed, their expectations. Satisfied clients are the best advertising tool that any company can have and are critical to sustaining any business. ‎We also work hard at keeping our internal operations as efficient as possible thereby keeping our costs extremely competitive. While it is easy to obsess about challenges that present themselves during tough economic times, those very same challenges can also manifest into opportunities for long-term growth and development.

John Azar - Managing Director, KingAlarm Systems

The Morgan’s Group has weathered many storms in our 40 years of manufacturing in Jamaica with a deliberate focus on quality and innovation. We have always had a very strong awareness of where the market is and where it’s going and as a result kept our product lines fresh, innovative and modern with the customers’ needs and wants firmly planted in our every move. Another Key Success Factor to our survival has been the very healthy business RELATIONSHIPS we have maintained with our customers, suppliers and financiers and delivering on every promise.

Aswad Morgan - Director of Sales/Marketing, Morgan’s Group By utilising powerful marketing communication methodologies which are applied through the use of non- conventional tactics i.e. using unfamiliar places and products for promotion for e.g. route taxi branding, this keeps the brand powerful, current and desirable, which in turn keeps the business profitable.

David Duhaney - Sales and Marketing Manager, MAUZAC Construction and Building Maintenance These days, it’s hard to keep your company relevant. Technology moves at such a fast pace that the business world is evolving much more rapidly than it used to. However, utilising social media is one sure way. The way that people communicate today is remarkably different than it used to be, and trends are constantly shifting. By setting up social media sites for my business, the business will become more accessible to a whole new generation of potential customers. I spend a lot of time observing the trends, staying informed on the latest events, and keep a finger on the pulse of what my market wants and craves now, as opposed to six months or a year ago. If I allow my brand to nod off, regaining momentum is going to be challenging, so instead of letting my brand go dormant, I innovate, ask questions(existing customers), build a vision, ensure the company is scalable, open myself to new forms of distribution and most of all, take chances.

Stephen Spence - CEO|Director, SMS Communications Ltd.

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FINANCE

HEALTH & WELLNESS

Funny Business: How Humour

ost of us are familiar with the term ‘laughter is the best medicine’ and some tend to take this quote with a grain of salt. However, never underestimate the power of humour; it is a dominant anecdote for pain, conflict and most importantly, stress. In 1979, political writer, Norman Cousins published a book titled, Anatomy of an Illness in which he described a potentially fatal disease he contracted a few years earlier. He detailed his discovery of the benefits of humour and other positive emotions in battling the disease. He found, for example, that ten minutes of mirthful laughter gave him two hours of pain-free sleep. His story baffled the scientific community and inspired a number of research projects. Over the years, more research has been done on the benefits of laughter/humour and the results used to help alleviate stress, especially

Helps with Workplace Stress By Alicea James

in places known for stressful situations such as the workplace. Stress is caused by a variety of different factors, and is a normal physical reaction to events or situations that upset your balance in one way or the other. However, workplace stress − due in part to the tough economic climate −seems to be a growing issue the world over. There are several things that can be used to bring stress levels down; one is to avoid the stressor.

However, if our main stressor is work, we clearly can’t avoid it.

A sample survey which included 751 Americans was conducted a few years ago. The participants were all over the age of 18, and were either employed full time or part time. Here are some statistics from the survey: • 40 percent of workers reported their job was very or extremely stressful.

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• 80 percent of workers feel stress on the job, nearly half say they need help in learning how to manage stress and 42 percent said their coworkers needed such help. • 25 percent have felt like screaming or shouting because of job stress, • 10 percent are concerned about an individual at work they fear could become violent. • Job stress is more strongly associated with health complaints than financial or family problems. • Three fourths of employees believe that workers have more on-the-job stress than a generation ago. • 25 percent view their jobs as the number one stressor in their lives. Many countries around the world are desperately scrambling for ways to eliminate or even decrease workplace stress, as it affects the bottom line. The Japanese even have a name for it, ‘Karoshi’ which loosely translates to ‘death by overwork’. During the 1980s there was a stress decade in Japan and more that 10,000 Japanese executives per year were thought to be dying due to ‘Karoshi’. What does all this tell us? Well, no matter where you live or where you work, we are all prone to stress. But thanks to years of research, we don’t have to die from ‘Karoshi’. There are ways to eliminate, or at least decrease workplace stress; one effective way is with humour. Of course we have to be careful and tactful in our approach to integrate humour in the workplace. First, we need to understand that not everyone will understand your sense of humour and that’s perfectly fine. Here are some other useful tips:

Know Your Audience

• Don’t make fun of your co-workers’ physical appearance; this is rarely ever funny. Especially if it relates to their body weight, hair or facial features. Yes, sometimes a person might wear an outfit that you find humorous and they might even be in on the joke, but tread lightly and ensure that you know the person well enough to know if they will find this funny.

• Do not make sexual jokes around your boss or even other female co-workers. Yes, Carol’s daily fruit might be a banana, and yes she might eat it slowly, and in what you might deem a sexual manner; but I bet that sexual assault lawsuit won’t seem so funny once it hits your desk! • Never joke about religion, politics or someone’s ethnic background. What is funny to you might be extremely offensive to your co-worker. If someone deems you as offensive this is only adding to their workplace stress as they might be uncomfortable whenever they are forced to interact with you.

The Proper Way to Use Humour: Laugh at yourself

Don’t take yourself too serious, you can turn an embarrassing situation into something humorous. Maybe while going down the stairs your heel broke and everyone in your office saw the entire thing play out. Why not just have a laugh, not only will this ease the awkward tension, but you will also feel less self-conscious.

Use Humour to Diffuse Tension

You might have a big presentation coming up and you really want to break the ice before you dive right into business. Well, you can find a funny story or anecdote that relates to the topic at hand. You would be surprised how this little infusion of humour can lighten the mood and those you are presenting to might even view your presentation in a more positive light when they are relaxed and happy. Humour in the workplace not only benefits the employee, but also the company as a whole, as it is known to help with productivity. Laughter and humour has the ability to increase motivation and energy, improve memory and concentration as well as enhance creativity. Here is the bottom line; happy employees are productive employees. So If companies create a space where everyone can relax during times of stress, workers will in turn be more passionate about their jobs, and will be more productive on a day to day basis,

Life is short; smile while you still have teeth! 23rd Edition

HEALTH & WELLNESS

Workplace Harassment

By Alicea James

any of us in the business world have heard the term ‘workplace harassment’ and have a general idea if what it is. But, how do you know when or if you have crossed a line with your co-worker? And if you are at the other end of the spectrum, how do you know when to take action against a co-worker? Truth be told, if we are old enough and smart enough to get through a job interview, beat out several others to get the job, and perform well at our job, then how do we not know how to behave professionally in a work environment? Many of us know what is right and what is wrong, which is why workplace harassment mostly takes place in private. However due to the rise of sexual harassment cases over the years, it is clear that some of us need a little refresher; so let’s read on! Most sources generally define workplace harassment as any action− whether verbal or otherwise− that makes someone in the workplace feel uncomfortable or unsafe. Any unwelcomed verbal or physical conduct, which is based on race, sex, religion, disability, sexual orientation etc. which creates a hostile environment for an employee can be defined as workplace harassment.

Sexual Harassment

Sexual harassment seems to be one of the leading workplace harassment complaints. It is any unwanted sexual advances, requests for sexual favours, and any other physical or verbal conduct which are sexual in nature, and affect an employee’s performance or creates an intimidating environment for them.

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The Equal Employment Opportunity Commission revealed alarming statistics from a poll survey which involved 782 workers: • 31 percent of the female workers claimed to have been harassed at work. • 100 percent of women claimed the harasser was a man. • Of the women, 43 percent were harassed by a supervisor. • 7 percent of the male workers claimed to have been harassed at work. • 62 percent of workers took no action. • 59 percent of men claimed the harasser was a woman. • 41 percent of men claimed the harasser was another man.

build a strong case for physical harassment − though the action might not necessarily cause the person physical bodily harm or injury. The fact is, whenever you create a hostile environment for your co-worker, you are treading a thin line between being reported to a manager or having a lawsuit filed against you.

Verbal harassment

This is self-explanatory, whenever derogatory or hateful comments are hurled at another person this can be considered verbal harassment. The comment itself can be based on race, age, gender, religion, sex or any topic that a co-worker considers sensitive. Yelling hateful remarks about someone’s family

Although it is difficult to measure the exact cost of sexual harassment cases for companies, a survey of United States federal government employees estimated that between 1992 and 1994, sexual harassment cases cost the U.S. government $327 million. In Canada 512,000 sexual harassment incidents were recorded by the police in 2004 and over 24,000 offenses were recorded by the police in 2007. In sexual harassment cases both the employer and the company pays the price.

Cost of sexual harassment to the employer • • • •

Higher staff turnover Possible legal and consultant costs Damaged company reputation Decrease in employee productivity

Cost of sexual harassment to employee • Decrease in productivity

• Job turnover- this could include being fired, quitting or being transferred due to sexual harassment claims • Increase in sick leave and time away from work

Physical Harassment

Generally speaking, whenever someone exercises physical force towards another employee that can, or has caused harm or physical injury, it can be defined as physical harassment. However, over the years other situations have been added under the sexual harassment umbrella. Patting someone in an aggressive manner, blocking a person’s movement or even brushing against someone in a combative manner can also

or friends, or even whispering about your employee can be considered verbal harassment as it can affect your co-workers’ job performance and even their state of mind. The effects of verbal harassment can be stressful and long-lasting. Repeated verbal abuse has been shown to lead to sleep disruption, depression, headaches and other physical problems. Verbal harassment does not only affect the victim, the company suffers as well; abused workers may become withdrawn and tend to skip work frequently thus affecting the quality of their work.

Is it really harassment?

There will be times when undesirable actions occur in the workplace, but not everything uncomfortable or stressful is harassment. There are behaviours that might be extremely annoying but they do not necessarily equate to harassment. Your co-worker might exhibit behaviours that are improper workplace etiquette such as making isolated comments or maybe even a little teasing, in these cases you need to have a talk with the co-worker in question before you call in the lawyers; remember an allegation against a co-worker could affect his/her job and in extreme cases it can lead to criminal charges. To protect yourself against harassment, know your rights, there is nothing more powerful than knowledge!

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LIFESTYLE

March in

ingston 20 has grown beyond our wildest dreams and if you have wealth, or at least enough to get you to Miami, there are a multitude of worlds to explore just an hour and twenty minutes away. In the 70s, before we had a Kingston 20 of our own in Jamaica, Florida's southern city got that nomenclature because so many Jamaicans migrated there. Since then Miami has certainly changed. The Four Ambassadors were the only buildings ten stories high. That was the extent of Miami's "skyline". Driving into Little Havana for Cuban food was considered an exotic experience. Coconut Grove, the first black community settled by people from the Bahamas in the 1880s was a bohemian environment; South Beach a series of dilapidated duplex residences where old people sat out on their porches in lawn chairs enjoying warm weather while they waited to die. It gave my mother the creeps!

That was before the "art deco" makeover which revolutionised the area and where Chris Blackwell's Island Outpost made an impact with his boutique hotels and recording studio. The Sony Tennis Tournament was still upstate. It only moved to Key Biscayne in 1985 when the Miami Masters series was known as the "Lipton International Players Championships”. Well that is as old hat as tea. Today the tournament has a decidedly Latin flair. World's numero uno tennis star, Rafael Nadal from Spain, arrives on court to the beat of the Argentinean rock band's "El Matador”. Gone are the free Lindors chocolates promoted by Swiss star Roger Federer. Today both Argentina and Ecuador have venues promoting tourism to their countries, even investments. Serbian fans in the seats ahead of me, displaying their flag in support of number two Novak Djokovic, are told by security staff "No flags allowed" but later Spanish flags supporting "Rafa" in his match manage to be displayed in numerous places around Stadium Court. Yes, this is

By Laura Tanna a Latin crowd. When I ask the people next to me what flag they are waving, I'm told: "Venezuela”. No Venezuelan is playing but this is Miami - home to Caribbean, Central and South American migrants and exiles. A special video has been made of fans throughout the Crandon Park site of the Sony Tournament to show "Rafa" how much we all love him. When it appears, he responds in English and Spanish saying how much the Latin fans mean to him, in a tournament he has never won. Serbian Djokovic has won three times (now four after a decisive final over Nadal on March 30, 2014) but he isn't “Rafa”, who now not only changes his shirt between sets but gives himself a lengthy rub down with his towel. Young girls scream their approval as his naked chest and back are shown on the big screens at both ends of stadium's purple courts. Tennis is big time now and you really shouldn't miss it. At least once in your life enjoy the friendly vibe. African American

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n Miami staff provide everything from golf carts which breeze people from parking lot 2 to the front entry. Our dreadlocks driver almost left us on the tarmac; he took off with such speed. The African American chef in Championship Restaurant tosses shrimps in marinara sauce like a true master with pasta of your choice. Arepas de choclo, sweet corn pancakes with melted cheese inside, my favourite street food on the central outdoor food court, vies with boxes of pizza for the most popular food amongst fans who stroll around the grounds between sets or matches before settling into picnic tables strewn under trees by outdoor screens. Of course the most popular, always crowded, location is the MoĂŤt & Chandon Champagne and Sushi Tent. Here one sits on white banquettes if one is fortunate, or else on high bar stools at tables where ice buckets of Imperial Brut champagne are cooled as one eats Japanese cuisine. Well, most of the California or lobster rolls come in little plastic boxes with packets of ginger, hot wasabi and soy sauce but occasionally someone orders the sushi boat which arrives with great fanfare - a real miniature wooden boat laden with rice and fish delicacies. Samra, our lovely waitress, remembers us each year, as does Sammy from New Jersey, who makes the trek south just to work the two weeks at this hallowed ground. Birds abound because we're so close to Bill Baggs Cape Florida State Park at the Key's tip. Green parrots, white egrets, occasional geese and ubiquitous John Crows swoop, twitter and glide over stadium court as up and coming hopeful tennis players try their hardest against seasoned veterans who know how to lose a set and still come back to win the last two to remain millionaire-endorsing champions of a lonely sport, mano-amano, gentlemen gladiators who kill no one but each other's chances of making it big time. For the women, Serena Williams still

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dominates them all, lowering her knees and using her powerful leg muscles to launch full body attacks on lesser mortals who dare to hope they might have a chance of winning against her indomitable strength. Daddy Williams, sitting courtside with his new wife and toddler son, agrees to photos with adoring fans who just want some association with the Williams girls' success at tennis. What more can I tell you except that if you go the first week, when tickets are less expensive, you can watch the stars warm up at the outer courts and be within armâ&#x20AC;&#x2122;s length of some of tennis' finest players. It's that sort of tournament - small and cozy with people from all over the world. My seatmates come from Serbia, Chile, Venezuela, Cuba and Brazil. And from all over the USA too, just check out the licence plates in the parking lots. But tennis isn't the only game in town. The Ultra Music Festival the same weekend as the Sony finals brings electronic dance-music acts with hundreds of DJs performing at Bayfront Park, 301 Biscayne Boulevard in downtown Miami. Literally thousands and thousands of ultra supporters donned what we would call carnival costumes - skimpy bikinis, feathers, sequins, all manner of garb as they dance not only at Bayfront, but in downtown streets blocked off for the occasion. From 4 p.m. Friday March 28 until 4 a.m. Saturday the 29th and then all over again that noon until 1 a.m. and again noon on Sunday until midnight, Miami enjoyed a kind of insanity inspired by acts such as Skrillex and Diplo, British techno wizard Carl Cox, Loco Dice, Pete Tong and Swedish superstar DJ Avicii, to name but a few of the headliners. Brilliant coloured laser lights create a spectacular show in the night sky above Bayfront Park as Miami parties. So whether it is "sedate" tennis March 23 to April 5, 2015 on Key Biscayne at the next Sony Tennis Tournament or March Madness at the next Ultra Music Festival, remember to put Miami in your travel plans for 2015.

Photographs provided by Laura Tanna

Hon. Dr. Marshall Hall, O.J. - The Excitement Starts Here - of Jamaica Producers Group, at the Sony Tennis Tournament

Sony 2014 Champion Novak Djokovic entering Stadium Court in an early round match.

Latin Food stalls at Sony Tennis Crandon Park grounds

Latoya Aquart-Foster, Project Manager, Environmental Health Foundation; Novlet Deans, CEO, Environmental Health Foundation Group of Companies; Charmaine Brimm of PIOJ.

Garth Walker Chairman CME presents a token to Hon. Dr Peter Phillips, Minister of Finance, Ministry of Finance & Planning.

Carrington Direct Project , Chief Strategic Planner, (L-R) Carrington P. Morgan Valerie Viera, CEO, JBDC, er; elop dev Gas Pro project in Management Ser vices & Finance & Planning Col of istry Min , Minister of Finance Walker Chairman th Gar Hon. Dr Peter Phillips, ; aica Jam of , Planning Institute European Union. Bullock, Director General a, Head of Cooperation, CME; Jesus Orus Baguen

"Fostering community development through Public-Private- Partnership (PPP)" Key note speaker minister of finance Dr. the Hon. Peter Phillips MP.

(L-R) Colin Bullock, Director General, PIOJ; Elizabeth Hyde, beneficiary of the European Union, Poverty Reduction Programme, internship programme. Jesús Orús Báguena, Head of Cooperation, EU.

(L-R) Simone Riley Sales and Marketing Manager Wealth Magazine, Diane Edwards, President, JAMPRO and Colin Bullock, Director General, Planning Institute of Jamaica, Garth Walker, chairman C.M.E.

COMMUNITY RENEWAL PROGRAMME (CRP): Growth Strategy: “Fostering Community Development through Public-Private-Partnerships” The Planning Institute of Jamaica, PIOJ, sponsored Wealth Magazine’s monthly business mixer - Corporate Mingle - on April 25 at Spanish Court Hotel, as part of efforts to push its Community Renewal Programme (CRP) under the theme Growth Strategy: “Fostering Community Development through Public-Private-Partnerships”. Technical Specialist for Socio-Economic Development, Charmaine Brimm pointed out that the CRP was established as the Government’s coordinating arm for social intervention in vulnerable communities across the island and that it was conceptualised on the premise that security, justice and community economic well-being are necessary for the sustainable development of the country.

David Mullings, Investor and Troy Casteneda Actor and race car driver from California was present and caught the attention of our lens.

Keynote speaker at the forum, the Minister of Finance & Planning Dr. Peter Philips stated that the CRP provides an avenue through which interventions aimed at economic, environmental and social development may be implemented in a coordinated and targeted manner to maximise impact on volatile and vulnerable communities in Jamaica.

Colin Bullock, Director General, Planning Institute of Jamaica addressing the guests during Corporate Mingle.

Head of Cooperation of the European Union (EU), Jesús Orús Báguena, highlighted that the PIOJ’s partnership with the EU, through its Poverty Reduction Programme, has seen many residents benefitting from internship and scholarship opportunities, as well as employment opportunities.

Caught in the middle. Winsome Gibbs Business Development Manager JIIC, CME's Garth Walker and Naomi Garrick.

In light of one of its key strategic objectives of building partnerships among state and non-state entities for the implementation of social intervention programmes, the CRP welcomed the opportunity to be a part of Wealth Magazine’s Corporate Mingle as the ideal forum through which it could invite more partnerships with private sector groups.

(L-R) Networking with a purpose! Jesús Orús Báguena, Head of Cooperation, European Union; Nicola Dawson, Sales Manager, Gas Products Limited and Charmaine Brimm, Technical Specialist:Socio-Economic Development, Community Renewal Programme, PIOJ.

The CRP believes that these types of collaboration, with a strong impetus on public-private-partnerships are critical to achieving empowered and prosperous communities and by extension Jamaica. Also supporting the socio-economic advancement of Jamaica’s most volatile and vulnerable communities were panellists Jesús Orús Báguena, Head of Cooperation of the European Delegation in Jamaica; Valerie Veira, CEO Jamaica Business Development Corporation; Novlette Deans CEO and Group Director, EHF Group of Companies; and Carrington P. Morgan, Strategic Director, Carrington Direct, Project Management Services. Tanesha Westcarr made fashionable statement at Corporate Mingle.

(L-R) Garth Williams, Simone Riley, Charmaine Brimm, Naomi Garrick and Nicola Dawson smile for the lens.

L-R: Sandra Folkes-Abrahams Industry State Minister, Carrington P. Morgan, Strategic Director, Carrington Direct Project Management Services.

L-R:Garth Walker, Chairman CME, Hon Dr. Peter Phillips Finanace Minister.

L-R: Corporate Mingle Host Garth Williams, Simone Riley Sales and Marketing manager Wealth magazine, Jesús Orús Báguena.

L-R:Charmaine Brimm, Ashli Henry Project Assistant CRP, Carmen Miller Communications Specialist Vision 2030 and Stacey Guyah Programme Associate.

Wealth Access

F I N A N C I A L

“Money at your fingertips”

L-R:Colin Bullock Director General PIOJ, Sandra Folkes-Abrahams Industry State Minister.

April 25, 2014

L-R: Stacey Guyah Programme Associate, Ashli Henry Project Assistant-CRP, Carmen Miller, Communication Specialist.

LIFESTYLE

The

BMW M235i Coupe

is here!

tewart Motors, Jamaicaâ&#x20AC;&#x2122;s official importer of BMWs unveiled the M235i at its showroom in Kingston on Tuesday May 27, 2014. The breathtaking M235i, the latest member of the BMW 2 Series Coupe, features turbocharged inline 6-cylinder engine, dynamic braking, a rear spoiler lip for increased surface pressure, M Sport chassis and lots more. BMW 2 Series Coupe takes the levels of driving pleasure on offer in a compact model to even greater heights.

Manfred Vogt, Regional Training Manager (left) and Duncan Stewart (right), General Manager, Stewart Motors unveil the BMW M235i

cylinder in-line engine under the bonnet of the BMW M235i Coupe earns it top billing as the most powerful petrol-driven member of the BMW M Performance Automobile line-up. It embodies intense driving pleasure that is instantly signalled by its specially modified, aerodynamically optimised body design, and is propelled by the most powerful petrol engine developed so far for a BMW M Performance Automobile.

Features of the M235i

The vehicle concept of the BMW M235i Coupe responds to the desire of sporty drivers for more driving pleasure without compromising on everyday usability. Its handling properties are defined by impressive agility and precision. The precisely adjustable driving characteristics of the BM M235i Coupe reflect the expertise and experience of BMW M GmbH in both motor sport and the development of high-performance sports cars.

The six-cylinder in-line engine with M Performance TwinPower Turbo technology generates maximum output of 240 kW/326 hp and accelerates the BMW M235i Coupe from 0 to 100 km/h (62 mph) in 5.0 seconds. Other ingredients in the unique character of the BMW M235i Coupe include the interplay between engine output, bespoke chassis technology and brake system as well as aerodynamic balance that is achieved with hallmark M precision.

As a member of the BMW 2 Series Coupe, the M235i raises the bar in the premium compact segment in terms of dynamic ability, aesthetic appeal and emotional allure. The 240 kW six-

The straight-six engine powering the BMW M235i Coupe benefits from the latest development stage in M Performance

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is all over in 4.8 seconds. And thanks to the high output and thirst for revs of the sixcylinder in-line engine, impressive reserves of power are still on hand for dynamic midrange sprints at higher speeds. Top speed is electronically limited to 250 km/h with both types of gearbox. The BMW M235i Coupe records average fuel consumption of 8.1 litres per 100 kilometres and CO2 emissions of 1 gram per kilometre. If the eight-speed sports automatic gearbox is specified, these figures improve to 7.6 litres per 100 kilometres and 176 g/km respectively. Gleaner reporter Chad Bryan looks under the hood of the BMW M235i

TwinPower Turbo technology and specific modifications to the cooling system, power management and sound tuning. A twinscroll turbocharger, High Precision Direct Injection with centrally positioned multi-hole injectors, VALVETRONIC variable valve timing and Double-Vanos variable camshaft control team up to ensure instantaneous power delivery and the free-revving characteristics typical of the brand – not to mention exceptional efficiency for this output class. The BMW M235i Coupe can also be ordered with an eight-speed sports automatic, complete with Launch Control, as an option. With Launch Control activated, the 0 to 100 km/h (62 mph) sprint

General Manager of Stewart Motors Duncan Stewart told Wealth Magazine at the launch of the BMW M235i that the vehicle is more fitted for people who like ‘sportiness’. “The M235i is for those who are high-performance oriented. There are not many cars like this available in the market place.” Sales Executive David Strachan agreed but added that the inherent value in the name BMW has stood the test of time. “The name BMW has proven itself in decades. If you’re looking for a vehicle that demonstrates performance, driveability, comfort and luxury, a BMW will give you that.” He noted that the BMW M235i is priced at only $10.1 million.

CAREER

Ingrid Card 88

Vice President Group Marketing Sagicor Group Jamaica 23rd Edition

1. Tell us about your current position.

Behind the Desk

As Assistant Vice President for Group Marketing at Sagicor Group Jamaica, I am responsible for developing and implementing strategic short and long term marketing plans. This includes all areas of marketing such as public relations, social media, sponsorships, advertising and the overall management of brand Sagicor. Of course, I am able to do my job because I am supported by an amazing team. 2. What motivated you to choose this field? From as far back as I can remember I was drawn to marketing, and I am very fortunate to be able to do what I love. I have also worked with some excellent marketers who taught me a lot through the years. 3. Do social media play an important role in your job? Of course it does. Digital media should be considered an important tool for any marketer. However, there is still a place for main stream media. My target audience and my budget help me determine the best medium to use when I am advertising. Finding the right balance is key. 4. Tell us something about you that is not known to many people. A lot of people would not know that I didn’t know my biological mother until I was in my twenties. My grandmother was everything to me. I however view this as a positive as I would not be the person I am today; my grandmother taught me to always strive for excellence. Another thing is that I am a big fan of Roger Federer. He is the only celebrity that I would do anything to meet. 5. How would you describe yourself? Perfectionist, solution-oriented, committed to excellence, strategic, optimistic 6. Where do you see yourself in the next five years? In five years I hope to be fortunate enough to still be doing marketing. I love what I do, I love brand Sagicor, I absolutely love my team and believe that I work for and with the best team anywhere in the world. There is a word of wisdom that we use at Sagicor, “the best way to predict the future is to create it”; I think I am reaping the rewards of hard work. 7. What advice would you give to young business professionals? My advice would be to not only have a plan, but be willing to work hard. There is a saying that I picked up years ago, not sure of the author; it says “vision without execution is hallucination”.

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CAREER

Is a career in

animation worth pursuing?

he word animation has become ubiquitous in Jamaica. Almost every week we read or hear something new about this creative industry that has the potential to pull our (Jamaican) economy from the depths of the unemployment crisis and raise our GDP beyond levels ever achievable by bauxite, tourism and music combined. To absolutely confirm this would be leading you astray. Instead, to come to a conclusion as to whether or not a career in animation in Jamaica and the wider Caribbean is worth pursuing, it would be best to analyze the pros, cons and possibilities separately.

THE CONTEXT

To set the stage for our discussion, let’s create the proper context for viewing the worth of a career in animation. First, let’s talk about the things you have probably heard already: 1. The global animation industry generated as much as US$222 BILLION In 2013. It’s true! This was recorded in

By Kevin Jackson a report published in January 2014 by Digital Vector. This is great news, especially since… 2. The industry is moving away from inhouse talent to outsourced talent. This little tidbit is also true! Though most feature-film animation is still controlled by a few studios globally, smaller studios have been making in-roads over the last 20 or so years and provide “proofof-concept” of the outsourcing model. Now many studios look for the labour to produce their content off-shore. Things are sounding even better because… 3. Jamaica is RIPE to be used as an outsourcing location. By all indications so far – this seems to be true as well. After all, Jamaica does have a distinct advantage for North American and Canadian production houses looking to outsource as Jamaica is near shore, English speaking, time-zone friendly, culturally compatible and on par creatively. We just need a cadre of trained and educated animators. Woo hoo! Excellent! After all… 4. It doesn’t take a lot of training to become an animator. This bit is, shall

we say, a matter of perception. The creative industries in Jamaica and the wider Caribbean tend to suffer from the general public’s notion that “anyone can do it”. The worst part is, many times that statement is true. Anyone can pirouette, similarly to the way anyone can animate, similarly to the way anyone can draw a house. What separates the drawing of a house from an architectural rendering is the same thing that separates tipping on your toes and spinning from performing a pirouette and the very same thing that separates simply drawing something in motion from animating an object. And that is what leads us to the elements of the context that are less spoken about. Here are a few things about the context you probably have not heard as yet: 1. Globally, the field of animation has more than 44 specializations, and many studios leverage employees within these specializations to create the best animation. Due to this kind of workflow… 2. Many international animation studios use more than 3 different pieces of software to produce animated content.

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However, in the outsourcing model… 3. Off-shore animation studios complete the less diverse and more repetitive “micro-tasks”, while the truly creative pieces of the workflow are completed by the production studios themselves. This means that… 4. Training and education should focus only on what is required to fulfill the needs of the outsource model, or at least that is what so many believe is needed for Jamaica to capitalise on the opportunities that exist now. This leads to thinning the skill areas covered, trimming the training time required and ultimately stunting the knowledge and skill requirements and expectations of trainees. However, despite all this… 5. Studios that outsource are looking for cheaper versions of their world-leading local talent pool. A production studio won’t outsource to simply the cheapest bidder, you have to stand out; and that means local animation studios are looking for the BEST animators so that they can use your talent to help them stand out and get that contract.

THE PROS

So what then are the advantages of pursuing a career in animation in Jamaica? Well, let’s take a look: 1. The animation industry is still young and not yet saturated. This means less competition and a greater opportunity to shine as an individual. 2. The work that you do will be consumed globally. Imagine the thrill that comes from being able to watch your own work on cable TV. 3. The pay scale is likely to improve as the industry grows, and higher paying jobs will more likely than not go to those “animators” with seniority. Getting in early should pay off handsomely in the long run. 4. The skills in animation are applicable across multiple fields, including film, webdesign, software-design, gaming and

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others – but only if you broaden and/or deepen your skills beyond that of a simple outsourcer. Animation equips you to be professionally relevant for years to come.

knows which version of the Jamaican animation industry we would like to see come to life.

5. There is demand for ORIGINAL Jamaican content! THIS is the good stuff because it means that as the Jamaican animation industry grows, Jamaica will continue to hold the distinct advantage of its rich history and culture – making original animated content from Jamaica a premium product. This is where Jamaica will be able to increase its stake in the global marketplace worth US$222 billion and more.

Our answer is YES! We believe Jamaica’s stories are worth telling; we believe our creativity is worth broadcasting; we believe that YOU and every other creative person deserve the audience that comes with the worldstage. The question isn’t whether or not a career in animation is worth pursuing, it is whether or not you are ready to invest in seeing your wildest dreams come true.

6. A good animator is a good animator – whether locally or globally. Animation allows you to telecommute (work from your home) on international projects and earn foreign exchange.

Is a career in animation worth pursuing?

Join Up – and let’s build Jamaica’s animation industry together!

7. The animation industry uses varied resources, so you may find yourself as a voice actor, or story-board artist as you explore the field.

THE CONS

1. The Jamaican industry is still young. Becoming an animator means accepting lower wages in the immediate term. 2. To become the best may mean years of training and even training while working. 3. You will be in the creative industries and your parents (and/or friends) may not immediately see the astounding value of what you do, or even discourage you.

The End Game

The appeal of a career in animation is entirely dependent upon the kind of animation industry Jamaica becomes. Will we focus so much on the outsource model that we neglect our rich history and culture, thereby missing out on the wealth animated content of that nature may hold? Or will we adopt a different approach and maximize the investments into the industry and become the regional and global content powerhouse we can become? No one knows the future, but the Jamaica Animation Nation Network

CAREER

Are you

WastingonMoney Training?

his may seem like a funny thing for someone like me to say as a big chunk of what I do involves providing training for my clients. But I know that on its own training is like shower gel; while you are in the shower it smells great and can be invigorating, but once you are out of the bathroom and dressed the impact quickly fades.

This is because while training can be great at teaching new skills, it won’t do much to change behaviours. At the end of the day it is not what we know that matters, it is what we do. How many times have managers said “I sent my team on [sales/customer service/leadership] training but it didn’t work”. The thing is that there may have been nothing wrong with the training. It might have been a fantastic training, so what is the real problem? It is usually the lack of a plan of action designed to convert the new skills learned in training into behaviours which the team can use every day at work. To rather badly misquote Mahatma Gandhi or was it the Chinese philosopher Loa-Tzu or maybe it was Margaret Thatcher: “If we watch our skills they become our behaviours,

By Nick Abbott if we watch our behaviours they become our habits and if we watch our habits they become our culture". Of course “culture is not the most important thing, it’s the only thing”. That I know for certain was quoted by Jim Sinegal the founder and former CEO of Costco. The most important step of having these new skills form part of our culture (which I now know is the only thing that matters) is to develop them into behaviours. To be fair, we are not talking about technical training which tends to develop into new behaviours by osmosis. If an employee participates in training for a new software system which she uses on a daily basis, the reinforcement is pretty much automatic, but technical training rarely deals with behaviours which have much impact on our culture. The training which can have a huge impact on culture usually deals with people skills or as it is often confusingly termed “soft-skills”. There are three critical parts to the training action plan:

1 - Define objectives: the desired new behaviours

The objectives are to clearly describe the behavioural change required. Examples could include:

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Customer Services Representative (CSRs) will answer all calls using language which encourages the caller to remember the CSR’s name. Employees to greet all walk-in customers so that they feel welcomed and valued. Compare these to typical training objectives which are phrased using terms such as the student will be able to do something or will understand a concept. These really are self-fulfilling prophecies as the student may well leave the classroom with a good understanding of the concepts and skills, but nothing in these myopic training objectives addresses the end product – the desired behaviours.

2 – The training strategy

To be effective, the training delivery plan has to fulfill its role within the overall solution. In other words, ensure that each participant acquires the practical skills which will be developed and ingrained during the third phase of the training action plan. I have identified three necessary components of the training strategy: 1.

Each student has to understand the theory of and the reasoning behind each new skill. 2. Each student is to practice the new skills within the training environment. 3. Each student is to be assessed in his ability to demonstrate these new skills. Tests designed to assess a participant’s recall or knowledge are fine in support, but on their own are of little value when it comes to confirming that he has the ability to execute the new skills effectively. A written test may be a part of our driving test, but we are not to let loose behind the wheel unsupervised until we have demonstrated our ability to drive the vehicle safely on the road.

3 – The sustainability plan

So far, the learning to drive analogy works well, but this is where we must part company. That said, it would probably be safer for all of us if every new driver were subject to some form of ongoing coaching and development during his first few months on the road. The sustainability plan (by any name) is all too often either an afterthought or not addressed at all, and causes the training, and by implication the instructor, to be branded as a “failure”. The sustainability plan must contain clear and time-bound deliverables the adherence to which is an absolute requirement. Typically it will involve both those responsible for training delivery as well as line managers. I strongly recommend that the details of the sustainability plan, which includes who will be doing what and when, be finalised before the classroom training commences. If your plan is vague or incomplete it will almost certainly be ineffective. The sustainability plan has to be owned and driven by senior management. The sustainability plan should take as long as is necessary for

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the new skills to become regular behaviours which will then be converted into habits. Of course even then the process of reinforcement and development has to continue using that most rare of phenomena: good management. If it involves a few very simple new skills it may sometimes be completed in three months, but my default recommendation is six months. In cases were the new skills involve a high volume of revolutionary or complex new behaviours you will probably want to opt for an even longer period of time. Your sustainability plan should be tailored to meet your specific needs and will be affected by the complexity of the new skills, the degree of behavioural change required and the skill levels of your front-line staff, supervisory team and instructional personnel. I recommend most of the following be part of pretty much every sustainability plan:

Observation and Feedback – Side-by-side observations of the employee in real-world operational situations are a must. If you can also include remote observations, typically within a contact centre or telephone environment, so much the better. The observations should be documented or recorded to include the following: • • •

Situations or opportunities for the employee to use the new skills. Whether or not the employee used her new skills. Examples of what behaviours the employee should continue to use in future situations and how he can improve behaviours in the future.

The feedback from these observations has to focus on future behaviours; unless you are a time lord there is nothing you can do to address historical behaviours, so why waste the time and effort?

Individual Monthly Summaries – This is a formally

documented coaching and feedback session which focuses on opportunities for improvement and a similar number of areas of strength. It will include suggestions for the coming month and a review of those made as part of the previous monthly summary.

Final Development Plan – The aim of this is to compare the current behaviours of the employee to the objectives which were originally defined way back at the beginning and to chart a way forward. If the employee is now demonstrating the required behaviours at the required level then the training has been successful. In these cases the continued development can be carried over into regular coaching and development. In cases where the employee is not behaving as you require you simply repeat or extend the development plan and continue until he/she is showing the desired behaviours. Now, and only now, are you ready to start awarding certificates, not for successfully attending training but for being successful in the real-world.

CAREER

Tips

For Surviving Your First Job And Debt

our first job is a major milestone and pivotal point in your life; it is during this time that you start making bold decisions and putting in place the tools and means to develop your career, wealth, and person. Now that you have a constant, predictable income stream, you can also make decisions based on that source of income.

Identify and prioritise competing wants

It is obvious that a new job may very well bring additional financial responsibilities. Your family and friends will also be presumptuous enough to also plan for your income whether you like it or not. If you live on your own, then you will have to budget for all expenses, including utilities, rent, groceries, gas and tithe. Apart from those shorter term responsibilities you may also want to consider long term capital acquisition such as buying a home, a nice car or some other investments.

Put things into perspective

If you are thinking about longer term investments you have to first, ensure that your shorter term needs are properly covered. These, after all, are needed to facilitate your being fit and able to earn an income on an ongoing basis. You should be thinking along the lines of: how much are my expenses? Do I have adequate insurance for life and property? What if I

By Hodine Williams am displaced from my job (do I have three months reserve in savings?). You should ensure that these are contemplated carefully and form a part of your comprehensive financial plan. Now that you have contemplated and prepared for at least your immediate needs; you may also want to consider other more detailed investments. You may want to study or get that second degree to enable faster promotion and a better paying, more secure job. You might also be thinking about acquiring a home or starting a family. A diversified investment portfolio will reap much benefits and it is trite to have a solid investment plan. Many banks and other financial insitutions have qualified advisors that are only willing and able to pitch some good options with varied degrees of risks. But be careful and remember that all investments are in fact - risks, so vary your exposure (a â&#x20AC;&#x2DC;donâ&#x20AC;&#x2122;t put all your eggs in one basketâ&#x20AC;&#x2122; kind of thing). There are a few things I considered when I started thinking about wealth:

1.Read some books on professional development, investing, or money basics. There are a few that I endorse and believe every young adult should read: Rich dad, poor dad; 7 habits of highly effective people; The Etiquette Advantage in Business;

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First things first; The Richest Man In Babylon; The Millionaire Fast Lane; The Money Book for the Young, Fabulous & Broke; and Think and Grow Rich. Together these will give you a good idea of how your thinking process should be and tips on how to make stuff work.

option of a new job which comes with a lower salary but that’s not the downfall. The scope for growth might be more and the experience is invaluable. Having a significant level of debt, obviously will wreak havoc on those possibilities.

Since you have been working for a while, you must, by now, have a good idea of your expenses and your income sources. With that information you are better able to plan your spending after your dues are paid. A budget is an excellent tool to give some indication of your financial direction; whether you’re on a path of doom or one of wealth. A budget can also help to identify how much more saving you will need to accumulate the down payment for your house or that new car you have been eyeing. When you develop your budget stick to it! There are few sites that can give you some great budget templates so Google some.

you pay off these as quickly as possible. The less debt you have; the more your net worth will be and the more equity you will have. Force yourself and be disciplined, focus on making larger payments on these outstanding debts. It is sometimes possible to negotiate with your bank to consolidate debt or agree on waiving penalties and/or a lower credit card interest rate, especially if it is in arrears.

5. If you have debt, try to consolidate and 2. Develop a detailed budget and stick to reduce it quickly. it. If you are heavily in debt, then the aim is to ensure that

Crunch some numbers; include the costs for rent, utilities, gas, groceries, mortgage, transportation, student loans, car payments and so on. What’s left will be your disposable income. This, you can further spend, invest or save, or any combination of these is okay if apportioned wisely. But please don’t splurge too much, be prudent, frugal even (it’s not a crime). Sales are your friend, so time them and plan ahead. If you travel, then take advantage of the holiday sales and end of season ones. Fashion night out comes about the same time every year. So utilise the information will you? Live by the rule “spend less than you earn”.

3. Pool resources and keep expenses low

If you have some good friends and family members and you pretty much work in the same vicinity, then you may opt to car pool. Gas is expensive and you may want to take turns or develop a roster if you have a car. Another way to save money is to stay with your parents as long as possible (literally until they kick you out). Right now the ‘carding’ from your friends is not that important so ‘tough it out’ if you have some bold plans. In a few years or less, you will have a home and they very well might not. Moving in with your parents or staying there for a bit longer will certainly keep costs down. But hey, remember that you are an adult so at least contribute to some of the bills. It’s a great way to test the veracity of your budgeting skills and to make the mistakes then. If they charge you rent then consider this an important life lesson.

4. Debt is not the friend right now so steer clear

Debt can kill and suffocate. If you are bogged down with the commitments of loan and debt payments, then this will limit your scope in terms of job options and mobility. If you have debt obligations then you might be overly cautious in switching jobs. Quite often, you might be faced with the

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6. Have a contingency savings account

Very often you might be faced with some unexpected expenses. The only way to properly address these eventualities is to plan for them. Try to put aside a bit each month in a contingency fund to fall back on in case you need to do some emergency spending. There might be an emergency medical procedure, insurance, car problems or a deal you just cannot pass up.

7. Consider carefully – health insurance

If you are young, then the possibility of getting some chronic illness is low. Be smart because statistically this risk is low. Do not jump into a critical illness plan just yet, especially if you have limited income. Insurance companies want to make money so they stand to have lower payouts if they sell to low risk groups, plans that are unlikely to happen. Notice I say unlikely because it’s not impossible. But let’s be practical, it is unlikely for someone in their 20s to have a heart attack or stroke but it’s not impossible. If you are prioritising then this should not be at the top of your list especially, if you are not at high risk for certain diseases. However, sudden illnesses will strike and accidents are also possible, so if you can increase your benefits while you are young – do so. If you can get multiple plans then go for it.

8. Start planning for retirement early

Most employers will have some form of retirement options. Some may contribute fully or may require you to contribute a portion as well. Some institutions do offer some good options with tax free benefits. Put away as much as you can now so that you will have money in the future. Some employers will match your contributions as well. So, if this option is available, milk it for what it’s got! At the end of the day, the best way to navigate through life, especially after starting out in the corporate jungle is to plan wisely. Prepare as much as possible for things you are certain of. For others, you make contingencies on the possibilities. Apply some statistical analysis to the likelihood of them happening and adjust according to risks. People don’t usually plan to fail – they fail to plan.

REVIEW

Book Review By Latoya West-Blackwood

Title: David and Goliath – Underdogs, Misfits and The Art of Battling Giants Author: Malcolm Gladwell Publisher: Little Brown and Company (2013) ISBN: 978-0-316-20436-1 (hardback)

The secret is out – I’m officially a Gladwell groupie. I find his fresh and unique approach to examining existing paradigms and then turning them inside out fascinating and so does the rest of the world according to his bestselling status. It should therefore come as no surprise that I made sure to pick up his latest work for this column and as I turned the pages it did not disappoint. It’s the biblical tale most of us have heard told over and over again since childhood – how David, the little shepherd boy defeated the mighty Goliath in the most epic underdog battle ever fought. From a strictly religious point of view, the story of David supposedly demonstrates how the lifting of one’s fate can lead to miraculous outcomes. However Gladwell takes us on a thought-provoking journey and forces us to question what was so miraculous about David sizing up his opponent and using the resources available to him to pull off a tactical victory. In his latest work, Gladwell offers a new perspective as to what it means to be an underdog and asks us with his convincing writing style to open up our minds, conceive and believe. David and Goliath, acts as a mental blueprint for overcoming adversity – discrimination, disability, obstacles and even life challenges such as losing a parent early. Gladwell does not disappoint in the pages of his latest work. His use of research while paying keen attention to historical details enhances his powerful use of storytelling and psychology to release our minds from the obvious, forcing us to truly think outside the box, ultimately gifting us with the power to reshape our perceptions of reality.

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Title: The E-Myth Revisited – Why Most Small Businesses Don’t Work and What to Do About It Author: Michael E. Gerber Publisher: Harper Business (1995) ISBN: 0-88730-728-0 (paperback)

It’s the era of the entrepreneur! There seems to be a start up as often as we tweet. The traditional model of education has also shifted to somewhat promote a conscious move towards promoting entrepreneurship. However, bestselling author, Michael Gerber was way ahead of the game when he penned The E-Myth in 1985. The initial edition became an underground bible for budding business owners and did so well - sold over a million copies - that it led to the publication of The E-Myth Revisited, with a new preface and revised material. I must admit, I’m always skeptical of business books with the ‘millions sold message’ – lots of bad products and books have sold really well with the help of some brilliant marketing. However, Gerber proves through the pages that he is worth his bestselling status. At the time of its release, The E-Myth Revisited presented a timely and detailed look at the anatomy of a small business while sharing some key insight as to the dos and don’ts for owners. Powerful messages such as ‘the tyranny of routine’, a mistake made by many, shares critical lessons for success. The personal tone of writing, an excellent chapter on marketing/brand definition and the practical bits of advice make the book a valuable purchase. A major takeaway for me from this work is that ‘business is as much about who you are and who you want to be as a person’. Never divorce what you do from your ultimate goal of self development. Afterall, what’s the value in having a successful business and becoming a personal failure?

Thanks to Bookophilia located at 92 Hope Road, for their support of this column. Pick up a copy of the titles reviewed there.

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