brochure - dba 2010 conference

Doctorate in Business Administration

2010 Business Research Conference

“Business Development in the Caribbean: Confronting the Challenges”

Mona Visitors Lodge

April 23rd – 24th, 2010

Message from the Principal, University of the West Indies, Mona

The University of the West Indies (UWI) and its Mona School of Business (MSB), recognized that, in addition to graduates from its Masters programmes, an increase in the pool of trained Caribbean Business Leaders, equipped to extend the boundaries of knowledge through scholarly research, would be necessary for enterprises across the region to cope with the novel and complex challenges of the modern global business environment. One of our many responses to this emerging predicament was the 2008 launch of the Doctorate in Business Administration (DBA) programme. The programme’s overarching objective was to train transformational leaders to undertake rigorous management research in order to provide boundary-spanning insights to contribute to the solution of the myriad business and management problems of our region.

We are particularly pleased with the progress of the members of cohort one of this programme. Having successfully completed two-years of seminars and a comprehensive examination, they are now ready to venture into the research phase of the programme. In fulfilment of the programme’s requirements, the cohort has been charged with hosting a conference to present papers on their areas of focus for their dissertation research. The theme chosen for the conference, “Business Development in the Caribbean: Confronting the challenges,” reflects the relevance of their dissertation topics and the four sub themes: National Public Policy; Leadership and Governance; Wealth Creation and Preservation; and Entrepreneurship and SMEs resonates with the contemporary issues that confront the region.

I am confident that attendees will be impressed by the students’ demonstrated appreciation of the management problems that the region is grappling with and with the sophisticated analysis they have engaged in to design researchable projects that are geared towards providing useful insights and solutions. I also feel reasonably sure that you will support them in a various ways as they embark on these projects. I extend heartiest congratulations to the members of DBA cohort 1 for attaining this milestone and I look forward to receiving them into the doctoral ranks, upon successful completion of the dissertation phase of their programme.

Prof. the Hon. Gordon Shirley, O.J. Principal, University of the West Indies, Mona Campus

Message from the Executive Director, Mona School of Business, UWI

The DBA Business Development Conference represents a significant milestone in the inexorable march of members of the first cohort towards their doctoral degree with the sense of enthusiasm and mental energy that emanate from their “enlightenment” over the last two years. During this period members of the cohort were engaged in a collaboratively creative environment in which they drew inspiration from intellectual exchanges with faculty and group members in seminars, colloquia, and debates.

The primary objective of all of MSB programmes is to equip students to become transformational leaders in shaping the economic future of Jamaica and the wider Caribbean. However, the bar is raised several notches for the DBA programme and students, where the burden is greatly elevated by the need to focus on the creation and interpretation of new knowledge in order to extend the forefront of business management through original research and other advanced scholarly pursuits and in some cases to create human capital as they stimulate the minds of university students.

There is no better time for our DBA students to demonstrate their mettle! Our nation and region continue to reel from the residual effects of the protracted world economic crisis and an assortment of home-grown ills and enterprises struggle to meet the demands of operations in this extremely complex business environment that is progressively complicated by uncertainty and equivocality.

The hosting of this conference, though a requirement of the programme, demonstrates that the members of this cohort are ready to face the challenges and to contribute solutions to the myriad problems we face. While the programme forces our students to grasp and apply the tenets of rigour in research, their choice of a conference theme and sub-themes, and their own research agendas amply indicate their appreciation of the notion of relevance.

Personally, it has been a pleasure to interact with this cohort; their excellent work ethic, intellectual capacity, motivation, maturity and discipline contributes to exhilarating doctoral seminars. I am sure conference attendees will get a sneak preview of their capability, the University will gain some visibility as a result of their efforts, and society at large will benefit from their hard work, ultimately.

Evan W. Duggan, Ph.D. Executive Director and Professor of Management Information Systems Mona School of Business

Message from the Academic Director, DBA Programme, MSB, UWI

The journey continues for the first cohort of DBA students from Mona School of Business (MSB). One of the phases in this journey is the engagement of the minds in an intellectual exposition and practical ways of synthesising and analysing business problems. It is with this in mind, along with the need to address relevant business issues with a critical eye, that an enthusiastic group of doctoral students strive to engage in serious, in-depth and rigorous research. Indeed, they embrace the thoughts expressed by Ludwig Boltzman: "There is nothing so practical as a good theory." They are also aware that business research that is of practical value must be informed by data; consistent with the view of Arthur Conan Doyle (via Sherlock Holmes): "It is a capital mistake to theorize before one has data."

I join in congratulating members of cohort one on the planning and delivery of this first Business Development Conference. They are the pace-setters and the die has been cast; future cohorts will have a set of footprints to follow. Excellence demands excellence and I am confident that the various research projects being proposed at this conference are indicative of the high quality expected from our doctoral students. I also believe that the areas of research represent those that must be explored to generate vibrant economic activities in the Caribbean region and beyond.

I join in welcoming those who have come to be part of this phase of the journey, tangential or otherwise. Mona School of Business exists to address and solve relevant business problems and cohort one of the DBA students represent part of that solution.

Accept my sincere blessings and best wishes for a good, effective and practical-oriented conference.

Dr. Lawrence A. Nicholson Academic Director, DBA

Message

The Jamaica Stock Exchange congratulates the University of the West Indies and the Mona School of Business in particular, on the organization of your Conference under the theme “Business Development in the Caribbean: Confronting the Challenges”.

The Conference is timely, given the turmoil, not only in the Caribbean, but also in the international marketplace, brought about by the global financial meltdown. It is very important that our brightest minds get together in order to find solutions in order to confront the problems facing the Caribbean. The Caribbean’s problems are many and some are unique to us. It is in this framework that it is important for us to seek our own solutions.

As usual, the University has brought together a distinguished panel in order to chart the way forward for the Caribbean and this is heartening. The discourse should be fruitful and ongoing. It is important that the solutions, when identified, are brought to the relevant authorities so that the Caribbean can be spurred into action instead of waiting for outside assistance. No doubt there will be a plan of action for implementation and the wider dissemination of information to the general public to allow for buying into the solutions.

I am confident that that this Conference will be of the highest standard and participants should be the better for attending.

The Stock Exchange takes pleasure in endorsing this Conference, which is another milestone in the history of the University.

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Mrs. Marlene Street Forrest

General Manager, Jamaica Stock Exchange

MESSAGE BY MRS. SANCIA BENNETT-TEMPLER

PRESIDENT, JAMAICA TRADE & INVEST (JAMPRO)

I would like to take this opportunity, on behalf of Jamaica Trade and Invest

(JAMPRO) to congratulate the Mona School of Business for their significant work in

research in the business sector. The caliber of this work, which is groundbreaking

in many instances, has augured well for the growth and development of business

in Jamaica and by extension the wider Caribbean.

The staging of this conference has come at an opportune time, as Jamaica seeks

to increase its efforts to emerge from the global financial crisis with renewed

energy and perspective. In keeping with the theme’s thrust to confront challenges,

I have no doubt that this event will offer new and inventive ideas for stimulating

business and boosting the economy. Jamaica Trade and Invest has a critical role to

play in facilitating business, and continued association with the Mona School of

Business, will undoubtedly allow for the further achievement of the organization’s

objective of creating an enabling business environment through advocacy and

research.

A review of the best practices among global Investment Promotion Agencies

highlights the significant role of research in attracting investment. Similarly, such

research is also critical in facilitating an increase in trade through product

development and a comprehensive understanding of target markets.

In light of this, our ability to forge strong partnerships with organizations such as

the Mona School of Business is important in harnessing an increased

understanding of trends and opportunities within a constantly evolving global

market, and using this knowledge in the further creation and promotion of

opportunities for Jamaican business.

Let me once again take this opportunity to congratulate the Mona School of

Business in the staging of this conference and we look forward to the ferment of

ideas and discussion that we are confident will open new pathways for boosting

business and investments in Jamaica.

SANCIA BENNETTSANCIA BENNETTSANCIA BENNETTSANCIA BENNETT---- TEMPLE TEMPLE TEMPLE TEMPLERRRR PPPPresident, resident, resident, resident, JJJJamaica Trade & Invest (JAMPRO)amaica Trade & Invest (JAMPRO)amaica Trade & Invest (JAMPRO)amaica Trade & Invest (JAMPRO)

The Jamaica Employers’ Federation (JEF) congratulates Cohort 1 of the Doctorate in Business Administration (DBA) programme of Mona School of Business on this important presentation of your body of research as set out in the seminar “Business Development in the Caribbean Confronting the Challenges”. Within the Caribbean space there are similarities and differences in the depth, breath and scope of the challenges to business development and the timeliness of the seminar is quite appropriate.

The span of the research topics makes us hopeful of the future as the conversion of research to application is anticipated.

We at JEF stand ready to further support the work and achievements of Cohort 1 thus far and look forward to the outcome not merely as another series for research documents to gather dust on a shelf but rather as learning that is practical and applicable. The business environment needs solid research as this is critical to improving our roles as entrepreneurs and employers.

We wish for you continued success and congratulate you on this initiative “Business Development in the Caribbean Confronting the Challenges”.

Yours sincerely

Wayne Chen President Jamaica Employers’ Federation

2A Ruthven Road Kingston 10 Jamaica W.I. Telephone: 926-6762/5524/6908 Fax: 968-4576 Email: [email protected] Website: http://www.jamaicaemployers.com/mission.php

Since its inception the Mona School of Business has poised itself as an institution of quality through its rigorous academic programmes and the high standards of its staff. Cohort 1 of the Doctoral programme in Business Administration, as beneficiaries of the Schools’ standards, are the pioneers who must continue to blaze the trail of high achievement and success for which the School of Business has come to be recognised. As the first group of students participating in the Doctorate in Business Administration (DBA) you have the opportunity to help Jamaica and, indeed the region to strategically reposition itself as an emerging trade bloc. The doctoral programme can be a truly transformative experience in which you must assume the responsibility for creating knowledge, not just disseminating it. If at the end of the programme you have not created a new product and contributed new bodies of knowledge, then you have failed. The challenges to business development have not really changed much over the years; what must change now is if Jamaica is to become a globally competitive, you must step up to the plate. Opportunities for growth abound in the different economies in the region. Your chance to change the Caribbean landscape is now. Do not lose the opportunity. All the very best in your inaugural business leaders’ conference. Carolyn Hayle, Ph.D. Executive Director HEART Trust/NTA

Doctorate in Business Administration Business Development Conference

“Business Development in the Caribbean: Confronting the challenges” Friday April 23 & Saturday, April 24, 2010

Mona Visitors Lodge

DAY 1 PROGRAMME

8:15 a.m. – 8: 45 a.m. REGISTRATION

8:45 a.m. – 8:50 a.m. Moderator’s Opening Remarks Dr. William Lawrence

8:50 a.m. – 9:20 a.m. Address Prof. the Hon. Gordon Shirley

9:20 a.m. – 9:50 a.m. Keynote Speaker Mr. Joseph M. Matalon

9:50 a.m. – 10:05 a.m. COFFEE BREAK (15 mins) Presentations – National Policy Perspectives

10:05 a.m. – 10:30 a.m. “Success factors for international development projects in small developing countries: with special reference to Jamaica”

Charmaine Nelson

10:30 a.m. – 10:55 a.m. “Does a high level of public domestic debt negatively affect growth and business development? The case of Jamaica”

Archibald Campbell

10:55 a.m. – 11:20 a.m. “Foreign direct investment in the tourism industry; Drivers and impact on employment and SMEs in Jamaica”

Dwight Shelly

11:20 a.m. – 11:45 a.m. “Contribution of SMEs to economic development in Jamaica”

Leroy Paul

11:45 a.m. – 12:10 p.m. Discussant Prof. Brian Meeks

12:10 p.m. – 1:10 p.m. LUNCH (1 hr) Guest Speaker: Mr. Peter Moses

Presentations – Wealth Creation and Preservation

1:10 p.m. – 1:35 p.m. “Financial market openness and monetary control” Dr. Delroy Hunter (University of South Florida)

1:35 p.m. – 2:00 p.m. "Intellectual Capital ‐ recognition, measurement and disclosure in a Caribbean context"

Denis Gray

2:00 p.m. – 2:25 p.m. “Does industry or firm specific factors determine the value of public traded firms in Jamaica?”

Winston Butler

2:25 p.m. – 2:50 p.m. “Hedging in non financial firms in the Caribbean” Ravi Rambarran

2:50 p.m. – 3:05 p.m. COFFEE BREAK (15 mins)

3:05 p.m. – 3:30 p.m. “Turnaround in the age of turbulence – The empirical effect of ERM performance on the extent of corporate turnaround”

Yvette Johns

3:30 p.m. – 3:55 p.m. “The impact of IT investments on firm’s productivity in Jamaica”

Donald Farquharson

3:55 p.m. – 4:20 p.m. “Strategies for managing corporate turnaround” Jackie Leckie‐Johnson

4:20 p.m. – 4:45 p.m. Discussant Dr. Brian Langrin

4:45 p.m. – 5:00 p.m. Moderator’s Closing Remarks Dr. William Lawrence

Doctorate in Business Administration Business Development Conference

“Business Development in the Caribbean: Confronting the challenges” Friday April 23 & Saturday, April 24, 2010

Mona Visitors Lodge

DAY 2 PROGRAMME

8:00 a.m. – 8: 15 a.m. REGISTRATION

8:15 a.m. – 8:25 a.m. Moderator’s Opening Remarks Dr. Lawrence Nicholson

Presentations – Leadership and Corporate Governance

8:25 a.m. – 8:50 a.m. “Increasing creativity and innovation in organisations: Implications for leaders”

Dr. Donna Cooke (Florida Atlantic University)

8:50 a.m. – 9:15 a.m. “Codes of good corporate governance: a Caribbean perspective”

Marjorie Campbell

9:15 a.m. – 9:40 a.m. “Globalisation and the Caribbean: Defining the profile of effective resort industry leadership”

Paul Gardner

9:40 a.m. – 10:05 a.m. “The relationship between the dimensions of corporate governance and bank performance”

Sherry‐Ann Crooks

10:05 a.m. – 10:30 a.m. Discussant

Prof. Edwin Jones

10:30 a.m. – 10:45 a.m. COFFEE BREAK (15 mins) Presentations – Entrepreneurship and the SME

10:45 p.m. – 11:10 a.m. “Organisational ambidexterity and firm performance: An examination of the role of owner‐managers and employees”

Silburn Clarke

11:10 a.m. – 11:35 p.m. “The role of business incubation in entrepreneurial development in Jamaica”

Vanetta Skeete

11:35 a.m. – 12:00 p.m. “Critical success factors for small businesses in Jamaica” Dawn‐Marie Ebanks

12:00 p.m. – 12:25 p.m. “The role of strategic networks in SMEs’ internationalization”

Cheralee Morgan

12:25 p.m. – 12:50 p.m. Discussant Prof. Rosalea Hamilton

12:50 p.m. – 2:00 p.m. LUNCH Guest Speaker: Mr. Earl Jarrett

2:00 p.m. – 2:20 p.m. Conference Closing Remarks Prof. Evan Duggan

Social Mixer

3:00 p.m. – 6:00 p.m. Meet and Greet Senior Common Room


RESEARCHER:

TRACK: Wealth Creation and Preservation

Dr. Delroy Hunter

Dr. Hunter earned his Ph.D. from the University of Warwick, U.K., a Master’s from the University of Florida, and a B.Sc. from the University of the West Indies, Jamaica. Prior to joining the faculty at USF in 2001, Dr. Hunter taught at Bentley College, the University of the West Indies, and the University of Warwick. He has taught a wide range of courses at the undergraduate, MBA, Executive MBA, and doctoral levels.

His research, which focuses primarily on Investments, International Finance, and Empirical Asset Pricing, has been published in the Journal of Business, Journal of International Money and Finance, Journal of Banking and Finance, Journal of Financial Research, Journal of Fixed Income, and other journals. His research has won the prestigious Goldman Sachs Quant award for the best paper in Investments at the 2005 Western Finance Association conference and has been included in the top 10 most frequently downloaded papers in International Finance (2002, 2004) and Financial Institutions and Markets (2004) on the Social Science Research Network. In addition, Dr. Hunter has presented his research at top regional, national, and international academic conferences and is the recipient of the USF College of Business Administration Research Achievement Award for 2005 and a competitive Summer Research Grant for 2006.


RESEARCHER:

TRACK: Leadership and Corporate Governance

Dr. Donna K Cooke

Dr. Donna K Cooke is the Associate Dean at the College of Business at the Florida Atlantic University and an Associate Professor. Dr. Cooke earned her PhD from the University of Miami with a major in Organisational Psychology. Her current teaching and research interests include organizational commitment, entrepreneurship, cross-cultural management and OB aspects of technology. Her recent publications include “Contemporary issues in the development of Caribbean economies: A comprehensive analysis”, “Social Interaction and Coordination: Management and Organizational Behavior in Virtual Communities” and “African-American business ownership: Strength in numbers, but where?”

_______________________________________________________________________________

SPONSORS _________________________________________________________________________________________________________________________________________________________________________________________ The Conference Planning Committee acknowledges the invaluable contribution of our sponsors without whom this conference would not be possible.

PLATINUM:

GOLD:

SILVER:

Intertrade Finance


2010 Business Conference


Profiles and Abstracts

Track 1:

(Day 1)

National Policy Perspective

Presentations

10:05 a.m. – 10:30 a.m.

“Success factors for international development

projects in small developing countries: with special

reference to Jamaica”

Charmaine Nelson

10:30 a.m. – 10:55 a.m.

“Does a high level of public domestic debt

negatively affect growth and business

development? The case of Jamaica”

Archibald Campbell

10:55 a.m. – 11:20 a.m.

“Foreign direct investment in the tourism industry;

Drivers and impact on employment and SMEs in

Jamaica”

Dwight Shelly

11:20 a.m. – 11:45 a.m. “Contribution of SMEs to economic development in

Jamaica” Leroy Paul

11:45 a.m. – 12:10 p.m. Discussant Prof. Brian Meeks

Track 1: “Business Development in the Caribbean: Confronting the Challenges”

Charmaine Nelson

Charmaine Nelson is a certified Project Management

Professional (PMP). Her academic qualifications include an

MBA (Distinction) and a BSc. (Hons.) in Computer

Science, both from the University of the West Indies. A

multi-skilled individual, her work experience spans the

private, public and NGO sectors, primarily in the fields of

management, information systems development and

project management. She is currently assigned to the

Public Sector Transformation Unit of the Cabinet Office, as

their Project Management Specialist. This places her in a

small team of highly skilled professionals charged with

leading the transformation of the public sector for greater

efficiency and cost effectiveness.

Just prior to this assignment, she held the post of Senior Director, Permanent Secretary’s

Office, in the Office of the Prime Minister (OPM). Charmaine was contracted as Project

Coordinator for the Jamaica Social Policy Evaluation (JASPEV) project of the Cabinet Office,

for a number of years. JASPEV was a project (funded by the UK Department for

International Development –DFID) which tested new mechanisms for citizens’ participation

in social policy design, implementation and evaluation, with an emphasis on the poor. She

was employed for 41/2 years at the Jamaica Social Investment Fund (JSIF), from its

inception, with her final position there being Operations Manager. Working at JSIF provided

her with valuable experience in pro-poor infrastructure and social services project

development, project appraisal and monitoring. She was employed for several years to one

of the island’s leading life insurance companies, Life of Jamaica (now Sagicor) where she

played a critical role in the implementation of computerized systems, which supported the

company’s market leadership position.

Charmaine’s experience and positioning within Government has provided her with a critical

platform to advance her research agenda and to positively impact Government’s decision

making processes. Her research is focused on uncovering strategies, mechanisms and tools

to improve the management and performance of public sector projects.


Name: Charmaine Michele Nelson

Email: [email protected]

School: Mona School of Business, Kingston, Jamaica

Research Interest: Uncovering strategies, mechanisms and tools to improve the

management and performance of public sector projects.

Viewpoint: Efficiency gains can be achieved in the Jamaican Public Sector,

through “joined-up” government, evidence-based policy making,

reduction of duplication and waste, more effective deployment of

information and communication technology and improved project

management practices

Success Factors for International Development Projects in Small

Developing Countries: with special reference to Jamaica

EXECUTIVE SUMMARY

Background: International Development Projects, in developing countries, area largely

funded by Official Development Assistance (ODA) primarily in the form of concessionary

loans through multilateral and bilateral cooperation programmes. Given the precarious

economic and social setting in developing countries, it is imperative therefore that these

projects are successfully implemented in order to achieve the intended development results

and to justify these substantial financial investments.

Objectives: This paper will explore literature related to the important area of international

development project success and propose a research undertaking with the objective of:

• Contributing to the body of research on international development projects and in

particular their impact on small developing countries.

• Contributing to the body of research on project success within the context of the

public sector and of international development projects

• Providing public sector project practitioners with a model to inform the planning and

implementation of international development projects which meet performance

targets.

Prior Work: Previous researchers have posited that International Development projects

are characterised by their social and not-for-profit nature, the complex relationship of

stakeholders, and the intangibility of the development results (Khang & Moe, 2008). Project

success, on the other hand, is characterised as an ambiguous and multidimensional concept

whose definition is context specific (Ika, 2009) however, the government context for

international development projects, has been described as one of uncertainty, ambiguity,


and multifaceted and complex stakeholder management issues that is subject to political

pressure, and public scrutiny (Crawford & Helm, 2009). The confluence of these internal and

external factors provides fertile ground for meaningful research that can inform national

policy. Despite this, little research has been done on the success factors for international

development projects, which are seen an playing an significant role in the socioeconomic

development process of developing countries (Khang & Moe, 2008, Ika, 2009) .

Approach: The research being proposed will be taking a 2 two stage sequential approach.

Stage 1 will focus on identifying critical success factors, through literature review and

interviews with project stakeholders. Stage 2 will use the concepts/constructs identified in

Stage 1 to develop a model of how these identified factors impact on the success of

international development projects. Due to the multidimensional nature of project success,

identified in the literature, an appropriate multivariate analysis method will be employed.


Archibald Campbell

Archibald Campbell is Deputy Chairman of Jamaica Money Market Brokers (JMMB) where

he also serves as Chairman of the Pension Trustees Meeting, Risk, Credit and Finance Audit

Sub Committees of the Board of Directors. Archibald is also President of the Institute of

Chartered Accountants of Jamaica. He is committed to nation development and currently

provides public service as a member of the Sugar Industry Negotiation Team for the

divestment of the Sugar Company of Jamaica on behalf of the Government of Jamaica.

Currently, Archibald is a faculty member at his alma mater, lecturing both undergraduate

and graduate courses in the Department of Management Studies with focus on Accounting &

Banking. He is a graduate of the University of the West Indies where he read for both his

B.Sc. Accounting and his M.Sc. Accounting degrees. Archibald is currently writing his

doctoral area of interest on “debt management in highly indebted countries.”


Name Archibald Campbell

Email [email protected]

School Mona Business School

Does a high level of Public domestic debt negatively affect growth and

business development - The case of Jamaica

ABSTRACT

Purpose Despite Jamaica fulfilling conditions in its economy of reforming its financial

systems, having international accounting systems and a significantly large part of its

financial system dominated by foreign banks, conditions enunciated by Wachtel study,

growth in Jamaica has been low over a very long period of time which is unlike that of other

middle income countries. The study therefore seeks to identify other variables that could be

impacting on growth and business development in Jamaica.

Design The case study builds on the work of King and Levine(1993a) which uses domestic

debt to the private sector as a strong factor in providing growth, by arguing that avoidance

of risk is one way of businesses managing risk and by avoiding such risk by lending

resources to government it also reduces funds available to the private sector and thus

growth. Additionally, increased domestic debt to government increases instability; the study

will therefore ascertain any change in the profile of businesses as a result of increased risk.

The study will use secondary time series data from the Central Bank of debt to the

government in addition to the other variables noted by King and Levine (1993a) as well as

data on companies listed on the Jamaica Stock Exchange in a regression model to establish

any associations.

Expected Findings Results will show a negative relationship between growth and the

amount of domestic debt. Additionally, that risk is greatest among businesses with a longer

value chain and consequently firms manage this risk by changing their profiles to a shorter

outlook.

Practical Implications The paper has important implications for the practice of monetary

policy in the country and long term growth. There are also implications for the types of

businesses that will be undertaken based on the policies undertaken.


Dwight Shelly

Dwight Shelly is a Fellow of the Association of Chartered Certified Accountants (ACCA) and

as an Assistant Director in the Financial Institutions Supervisory Division of the Bank of

Jamaica (BOJ) is responsible for providing oversight of the activities of a number of financial

institutions as well as managing an Examination team for on-site review of these

institution’s operations. In addition his functions include liaising with the senior

management of these entities to ensure that possible threats to the institution’s safety and

soundness are highlighted and mitigated. In executing his regulatory functions, Dwight is

able to rely on a wealth of management and accounting experience gained from over twenty

(20) years of professional experience in industry. Prior to joining the BOJ he occupied the

position of Finance Manager at a financial institution with oversight responsibility for all

financial and information technology operations as well as acting for the General Manager

during his absence. Prior to this Dwight was Senior Accountant at Jamaica’s largest alumina

plant.

Dwight was educated at The University of Technology (CAST) obtaining a Diploma in

Business Administration and later attended the University of the West Indies (UWI) where

he completed the Bachelor and Master of Science Degrees in Accounting. Thereafter,

Dwight completed the ACCA examinations and is now pursuing a Doctorate in Business

Administration at the Mona School of Business, UWI. Dwight has been the recipient of a

number of scholarships and awards including the Jamaica 21 Scholarship to CAST and the

Deloitte prize for auditing in the Master of Science degree in Accounting.

A member of the Kingston Open Bible Church, Dwight has amongst his many functions, that

of Deacon and Board Member. He is married to Janet and enjoys watching educational

documentaries, reading and is an avid sport fan


Name: Dwight Percy Shelly



Research Interests: FDI, Tourism, SMEs, IT

Viewpoint: Inward foreign direct investment (FDI) in the tourism industry

has the potential to create increased employment within the

resort areas as well business opportunities for SMEs generally.

Foreign Direct Investments in the Tourism Industry: Drivers and Impact on

Employment and SME’s in Jamaica

ABSTRACT

Objectives: This paper will examine theoretical drivers of inward tourism related FDI in

the Jamaican context as well as determine whether there is a positive relationship between

increased FDI inflows into the tourism sector and increased contracts with SMEs as well as

employment of skilled workers in the sector.

Value: This research is seen as important as much of the literature reviewed has

focused on the impact of inward FDI in developed societies or on mainly infrastructure. In

addition, the literature on inward FDI have prescribed a myriad of the drivers. This paper is

therefore aimed at exploring whether there is a positive relationship between some of the

more well researched (based on the literature) drivers of inward FDI in the Jamaican

context, as well as anticipated linkages with employment and SMEs. This would therefore be

of value to policy makers, trade unions, small and medium sized business

owners/managers, as well as to academia in the extension of existing theory.

Prior Work: While much literature exists in relation to theories on drivers of FDI flows,

these have tended to focus in particular on advanced societies, with the literature in relation

to developing countries such as Jamaica still emerging (William and Deslandes 2008). From

the literature reviewed there is however no evidence that the impact of tourism related

inward FDI on the employment of skilled personnel and SME access to increased business

opportunities after construction of foreign owned hotels in Jamaica, have been studied.

Approach: The paper will examine the relationship between particular drivers (based on

theory) and inward FDI flows to the Jamaican tourism sector as well as whether increased

FDI in the tourism industry in Jamaica is positively related to additional direct employment

of technically skilled persons in the sector and the increase in the number of SMEs

contracted to foreign owned hotels after construction.


Leroy Paul

Leroy Paul is currently pursuing a Doctorate in Business Administration at the University of

the West Indies. His research interests include Small and Medium Size Enterprises and their

contribution to economic development in Jamaica.

Leroy is also a part time lecturer of Portfolio Management at the University College of the

Caribbean

Leroy sits on the Board of Intertrade Finance Corporation where he is employed full time.

He directs and controls financial and treasury activities as well as plans and implements

strategies for mobilizing the institution’s financial functions. He is a Chartered Accountant

and graduate of The University of East London in England. He later pursued postgraduate

studies at The Mona School of Business, University of the West Indies where he obtained a

MBA in Finance and Banking. His international working experience includes employment in

Banking and Accounting with Baybank Credit Corporation, Boston, Massachusetts and

Eastern Electricity, PLC, London respectively. While in London he also worked as an

Investment Analyst with Goldman Sachs International.


Name Leroy Paul

Email [email protected]

School Mona Business School

Research Interest SMEs, job creation, firm formation, productivity,

Economic development

Viewpoint Local businesses can make a significant contribution to

Modern management practices and economic Development.

Contribution of SME’s to Economic Development in Jamaica

ABSTRACT

Objectives This paper will analyse the relationship between SMEs, Job creation, firm

formation and productivity on Economic development. The model seeks to highlight the

importance of SMEs to overall development.

Value This area of study is very important in helping to understand the role of SMEs within

the Jamaican economy. The study is beneficial to business practitioners to whom it may be

a vital source of new information, to policy makers who could use the study to target those

areas within the small business sector that need the greatest assistance, and for future

researchers who may want to build on existing work.

Prior Work Very little research has been done linking job creation, firm formation and

productivity to economic development in developing countries. David Birch (1979, 1981,

1987) who revealed the startling finding in 1979 that 8 out of 10 new jobs in America, in

the 1970s, had been generated by firms with fewer than 100 employees. The importance of

new firm formation and its economic impact, however, varies considerably across industries.

Studies of new firm formation show that formation rates go up in both good economic times

and in bad, but for different reasons. Audretsch (1995) finds, in the US, that positive

business cycle variables influence formation rates. New firm formation increases during

periods of high economic growth and decreases when interest rates are high.

Approach The paper will examine how SME’s contribute to economic development in

Jamaica. The concepts of job creation, firm formation and productivity are combined and

their impact observed on economic development. The aim of the paper is to review the

concepts of job creation, firm formation and productivity as it relates to SMEs and to further

examine and explore their relationship to economic development in Jamaica. Secondary

data will be used from the Statistical Institute of Jamaica (STATIN), the Small Business

Association of Jamaica and the Planning Institute of Jamaica.


2010 Business Conference


Profiles and Abstracts

Track 2:

(Day 1)

Wealth Creation and Preservation

Presentations

1:35 p.m. – 2:00 p.m. "Intellectual Capital - recognition, measurement and

disclosure in a Caribbean context" Denis Gray

2:00 p.m. – 2:25 p.m. “Does industry or firm specific factors determine the

value of public traded firms in Jamaica?” Winston Butler

2:25 p.m. – 2:50 p.m. “Hedging in non financial firms in the Caribbean” Ravi Rambarran

2:50 p.m. – 3:05 p.m. COFFEE BREAK (15 mins)

3:05 p.m. – 3:30

p.m.

“Turnaround in the age of turbulence – The

empirical effect of ERM performance on the extent

of corporate turnaround”

Yvette Johns

3:30 p.m. – 3:55 p.m. “The impact of IT investments on firm’s productivity

in Jamaica” Donald Farquharson

3:55 p.m. – 4:20 p.m. “Strategies for managing corporate turnaround” Jackie Leckie-Johnson

4:20 p.m. – 4:45 p.m. Discussant Dr. Brian Langrin


Denis L. Gray

Denis Gray is currently enrolled in the Doctor of Business Administration programme at the

Mona School of Business and his research interests include Performance Management,

Corporate Governance, Capital Markets and lntangible Assets. His proposed research

agenda is more specifically centred on the triangularity of the recognition, measurement

and disclosure related to intangible assets.

Denis is a graduate of the University of the West Indies (U.W.I.), Mona where he obtained

BSc and MSc degrees in Accounting. He is the 1990-1991, U.W.I. Touche Ross Ogle Prize

recipient for excellence in Cost and Management Accounting. Denis also holds a post-

graduate Certificate in Business Administration from the University of Wales. In addition, he

has enrolled in a number of executive education courses and his portfolio includes

certification in Financial Decision-Making as well as in Project Management from the

University of New Orleans.

A Chartered Accountant by profession, Denis has been engaged in a career spanning over

seventeen years in accounting and financial management within the financial services

industry. Over this period he has amassed a broad range of experience having served as the

Financial Controller of a leading stock brokerage house in Jamaica; Finance Manager and

the Chairman of the Asset and Liability Committee for one of the largest Credit Unions in the

Caribbean; and the General Manager for a subsidiary of one the largest building societies in

the Caribbean. Denis is currently employed to Citibank, N.A., Jamaica Branch where he has

held a number of positions including Resident Vice President with responsibility for

Operational Risk and the Risk Control and Self-Assessment program; Fraud Manager for the

franchise; and Corporate Secretary for one of its affiliates. He is currently the Vice President

with responsibility for Financial Control for Citibank and its affiliate.

Denis is a member of the Institute of Chartered Accounts of Jamaica (I.C.A.J.) and an

associate member of the American Certified Fraud Examiners (ACFE).

As a devout Christian, he is a member of the Grace Missionary Church where he serves on

the Finance Committee as the officer with responsibility for stewardship. Denis is married to

Adrienne and has a son, Denis (Junior) and a daughter, Denae.


Name: Denis L. Gray


School: Mona School of Business

Intellectual Capital-Recognition, Measurement and Disclosure in a

Caribbean Context

ABSTRACT

Evidence emanating from multiple streams of research literature suggests that there is a

growing acceptance of intellectual capital as a topic which warrants discussion within the

business arena and an issue which merits serious investigation within the academic sphere.

This growing interest has been accentuated over the past few decades as nation states have

moved progressively into a knowledge-based society characterized by a greater emphasis

being placed on intangible assets (such as intellectual capital) as a source of value-creation.

In an era dominated by tangible assets, financial measures were deemed adequate for

recording investments and financial statements were deemed relevant as a medium for

recognizing and disclosing their value. However, there is general recognition that the

business landscape has radically changed such that tangible book values now account for a

marginal proportion of companies’ market value, rendering financial statements wanting in

terms of their value-relevance and information-effectiveness. In fact, business organizations

currently face an unprecedented challenge in explaining company value generated on capital

markets through this medium.

This paper seeks to examine the importance of intellectual capital by seeking to synthesize

the literature related to its recognition, measurement and disclosure and discussing the

emerging issues within the context of capital markets. This will be done as a precursor to

investigating the phenomenon by way of research within the context of the English-speaking

Caribbean. Appropriate to this, a research agenda involving the triangularity of recognition,

measurement and disclosure of intellectual capital will be examined.


Winston Butler

Winston Butler serves as an advisor and investor in ventures spanning media, real estate,

telecommunications, tourism and food services industries.

He has worked primarily in the Private Equity and in Information and Communication

Technology (ICT) sectors. In Private Equity he was an executive with a syndicated fund that focused on maximizing the value of a portfolio of media, telecoms and internet assets in

emerging markets. In the ICT sector, after serving in different executive management roles at Cable & Wireless Jamaica Limited, Winston was appointed Executive Vice President

Strategy & Transformation and Chief Operating Officer Cable & Wireless (West Indies)

Limited with responsibility for development and execution of the company’s strategies for business units spanning 16 countries in the Caribbean and Atlantic Islands. He managed the

delivery of all expected business benefits from approved capital programmes and major

operations initiatives towards the realization of the business plan targets in the region. Additionally, Winston had responsibility for the overall risk profile, revenue assurance,

information systems and technology, new venture creation, corporate governance

processes, corporate communications and investor relations for the organization.

Winston has done post-graduate studies at INSEAD Fontainbleau, France and Mona School of Business, University of the West Indies Mona where he studied Global Business

Management (focus Strategy and Mergers & Acquisitions) and Banking & Finance (with

Distinction) respectively.

Winston‘s proudest achievement is his family which along with Stacey his wife includes one

son and two daughters.


Name: Winston Butler



Does industry or firm specific factors determine the value of public traded

firms in Jamaica?

ABSTRACT

For most of the past decade, Government of Jamaica’s high interest rate policy ensures real

returns at minimal risk. Private sector investment has been crowded out, and few other

asset classes could match pure return, let alone the risk-reward performance of government

securities. As a consequence, portfolios were therefore disproportionately skewed toward

fixed income securities. With the Jamaica Debt Exchange (JDX) there will is a sharp

reduction in the returns on Government of Jamaica securities and real returns will point to

zero (Ministry of Finance). Rational investors will seek returns elsewhere causing a

reallocation of assets in portfolios (Markowitz, 1959). With the impacts of the JDX, the

market capitalization of firms may pick up in the short-term because of portfolio rotation

(Fama, 1970). However, equities have performed very poorly in recent times, even losing

money. This practical concern is combined with the gap in literature that examines strategic

orientation of firms in Jamaica and their creation of value.

The purpose of this quasi study is to test the researcher’s theory that relates industry

factors and firm specific factors to firm value, controlling for size and industry for publicly

traded firms in Jamaica. The theoretical framework that informs the study include the

resource base theory (Wernerfelt, 1984; Barney, 1991), industrial organization (Porter,

1980), Capital Market Efficiency (Markowitz, 1959), Signaling (Spence, 1974) and Value

(Walbert 1994).

The method of observation will be nomothetic with deductive research using a quasi-

experiment involving secondary data on firms publicly traded, headquartered in Jamaica and

listed on the Jamaica stock exchange at some point during the period 1974 to 2009 (Babbie,

2001, Gill & Johnson, 1997).

The time series data across approximately 30 firms is deemed practical in the Jamaican

equities market. It is also anticipated that circa 300 hundred interviewer-administered

questionnaires shall be completed. Secondary data from the Jamaica Stock Exchange’s

library, the Secretariat of the respective firms, the Statistical Institute of Jamaica, the Bank

of Jamaica, Ernst and Young database, newspaper clippings and other reliable print media

shall be used to extract the requisite data. Due to the delimitation approach adopted a

purposive sample of the firms will be used to carry-out the study.


It is expected that this study, from a managerial perspective, will develop a usable a

strategic management framework for boards and executive management of publicly traded

service firms, financial analysts, institutional investors, retail investors, accountants,

auditors, firms aspiring/planning to be publicly traded firms and other key stakeholders on

the linkage between value creation and strategic focus (i.e. industry versus firm specific

factor focus).


Ravi Rambarran

Ravi Rambarran's work experience includes Pensions Actuary of Sagicor Life Jamaica,

Appointed Actuary of Global Life Bahamas and Global Life Cayman, Chief Financial &

Investment Officer of Sagicor Life Jamaica, Managing Director of NCB Capital Markets and

West Indian Trust Company, part-time Lecturer in Actuarial Science at the University of the

West Indies and running his own actuarial practice. Prior to joining Sagicor Life Jamaica, Mr

Rambarran was a Consulting Actuary with the Aon Group and the HSBC Group in the United

Kingdom.

Twenty-two years ago in London, Rambarran met Kenya-born Indian Asmita.

The two married later and are the parents of two teenagers.


Name: Ravi Rambarran



The Role of Hedging in Non-Financial Institutions in the Caribbean

ABSTRACT

The Caribbean economies post liberalization experienced significant volatility in interest

rates, exchange rates, tax rates and commodity prices. An area of research interest is to

test the theory on hedging on non-financial institutions in the Caribbean. Major differences

in financial policies in non-financial institutions in the Caribbean have been observed over

many years. There is a large body of US centric literature on hedging but a paucity of

Caribbean centric literature. There seem to be two competing theoretical rationales for

hedging, the maximization of shareholder value and the maximization of managerial utility.

This is exacerbated by mixed empirical evidence.


Yvette Johns

Yvette Johns is Lecturer and Coordinator of Actuarial Sciences in the Mathematics

Department of the University of the West Indies, Mona Campus. Her professional

experience spans over 10 years in the financial services industry at Life of Jamaica

Insurance Co. Ltd (LOJ, now Sagicor Life Insurance Co. Ltd). Her final position being

Associate Actuary and Insurance Operations Manager for the International subsidiary of LOJ

(Global Life). She was Project Manager for Software Technology Consultants before joining

the University of the West Indies in 2001, where she lectures in Mathematics of Finance,

Asset Liability Management, Applied Statistics and Statistical Inference.

Yvette an Associate of the Society of Actuaries. She has degrees in Mathematics and

Computer Science (BSc, Honours), and Computer-Based Management Information Systems

(MSc) from the University of the West Indies and a postgraduate diploma in Banking and

Finance from the Mona School of Business. She also has a certificate in Enterprise Risk

Management from the Casualty Actuarial Society. Yvette is a Member of the Caribbean

Actuarial Association (CAA) and a mentor with Youth Opportunities Unlimited (YOU).

Yvette is pursuing a Doctorate in Business Administration at the Mona School of Business.

Her research interest is sustainable corporate turnaround, business continuity and a broader

role for enterprise risk management.


Name: Yvette Johns Email: [email protected] School: Mona School of Business, Kingston, Jamaica Research Interest: Strategic Risk Management Viewpoint: Viewing turnaround management as a risk management

function and embedding it into the enterprise level ERM program (which has been aligned with the strategic imperatives of the company) avoids strategic and operational duplication. This increases the likelihood of boardroom expectations being met and alignment achieved.

The Effect of Enterprise Risk Management (ERM) Performance on

Corporate Turnaround

ABSTRACT Background: An argument growing throughout the existing literature is that implementing enterprise risk management enhances firm performance (COSO, 2004; Hoyt et al, 2006; Nocco and Stulz, 2006). In observing company performance during the economic and financial difficulties, S&P (2005) noted that effective or ineffective risk management is often cited as the root of success or failure. No study has yet been initiated to link the performance of Enterprise Risk Management with turnaround. Objective: This paper investigates the effect of enterprise risk management on the probability of a turnaround for companies that experience decline in their profitability. Value: The findings of this paper contribute to the strategic management literature and provide evidence on the role of strategic risk management as an instrument to achieve corporate objectives. Prior Work: In classic theories of finance, risk has been used as a theoretical construct assumed to influence choice (Kasperson et al, 1988; Weber, 2001; Slovic and Weber, 2002). Markowitz (1952) shows that it is not a security’s own risk that is important to an investor, but rather the contribution that the security makes to the variance of his entire portfolio. (Lawrence, 2004) introduced the construct risk in the turnaround literature by exploring the association between risk and turnaround at publicly traded firms. His study shows that turnaround firms have lower levels of risk (variability in earnings per share) than non-turnarounds. This suggests a role for risk management in the turnaround process. One major benefit of implementing ERM is to diversify risks by managing the firm’s risks as a portfolio arising from all sources (Cummins, 1976; Hoyt and Liebenberg, 2006; Nocco and Stultz, 2006; Schramm and Sherman, 1974; and Tufano, 1996).


Approach: This paper will explore the (enterprise) risk management and turnaround management literature. The method of observation will be nomothetic: deductive research using a quasi-experiment involving a purposive sample of secondary data on publicly traded firms that experienced severe performance decline. Using a survey instrument, data on governance characteristics will be collected and analyzed. Paper Type: Conceptual.


Donald Leone Farquharson

Donald Farquharson currently serves as the Regional Director of South East Regional Health Authority and Chairman of the Board of Directors of Powtronics Integrated Technology Services Limited. He has worked primarily in the Power Utility, Health, Information and Communication Technology Industries. He served for nine (9) years in various capacities at Jamaica Public Service Company Limited (JPS); as a Project Manager, Operations Manager and Maintenance Engineer focused on the improvement of network reliability and availability. Before leaving JPS he served as the Chief Information Officer for the Information Systems and Communications Divisions mandated to align the company’s Business and Information and Communication Technology Strategies. In 2002, Donald was appointed to the role of Chief Executive Officer for the Kingston Public and Victoria Jubilee Hospitals (the largest maternity and medical hospitals in the English speaking Caribbean), with responsibility for Technical and Administrative Management. He was promoted to his present role as Regional Director of the South East Regional Health Authority in 2008, with responsibility for the management of Health Care Delivery in eighty nine (89) Health Centres, eleven (11) major Hospitals and three (3) Health Departments in the parishes of St. Thomas, Kingston, St. Andrew and St. Catherine. As Chairman of the Board of Directors of Powtronics Integrated Technology Services Limited he provides guidance for the development and growth of the company as it seeks to achieve its strategic mandate to be a major player in the Engineering and Contracting Industries of Jamaica. Donald has completed Post-Graduate studies at University of the West Indies, Mona where he studied Management Information System and Nova Southern University Florida where he studied Business Administration, respectively.

Donald’s research interests include Information Technology (IT) Investments, productivity, business process re-engineering, business value, knowledge management, economic growth and business strategy.


Name: Donald Leone Farquharson



Research Interests: Information Technology (IT) Investments, productivity,

business process re-engineering, business value, knowledge

management, economic growth and business strategy

Viewpoint: Jamaican firms have not yet realized the optimal business value

from IT investments. Low productivity in the public and private

sectors in Jamaica has partly accounted for the lack of

economic growth over the last three decades.

The impact of IT investments on firm’s productivity in Jamaica

ABSTRACT

Objectives: This presentation will explore the state of Information and Communications

Technologies (ICT) use in Jamaica at present, the state of Jamaica’s economy and the

development of a Conceptual Framework for assessing the impact of IT investments on

firm’s productivity in the private and public sectors of Jamaica. The framework will examine

the major concepts and relationships between IT investments and productivity.

Furthermore, it will also provide a research approach for testing these relationships

empirically, utilizing a quantitative research method.

Value: This area of research will provide solid evidences on how IT investments can

improve Jamaica’s economic status out of the low growth, low-productivity trap it has been

in since the 1970s. This area of investigation is important for business practitioners who

may gain greater insights on how to better spend scarce IT dollars and to better align firm’s

IT and business strategies, for assisting policy-makers to better develop an ICT plan that

can drive social and economic development and provide academia relevant research gaps

that can stimulate further research in this field of study.

Prior Work: No work has been found on the impact of IT investments on firm’s

productivity, comparative assessment of the impact of IT investments on firm’s productivity

in the private and public sectors and impact of IT investments on economic and productivity

growth in Jamaica. Most research is done in developed economies. The majority of the

earlier research (1980 - 1994) showed little or no impact from IT investments on firm’s

productivity. While some later research (1995 - 2007) found significant contributions from

IT investments on firms’ productivity. The production function framework has been the most

widely used methodology in the study of returns to IT investment (see Loveman 1994,


Lichtenberg 1995, Brynjolfsson and Hitt 1996). Production function techniques have been

shown to be valid and quite successful through hundreds of empirical studies (Berndt 1991).

Approach: This deductive research study proposed will utilize a quasi-experiment

involving both primary and secondary data sources. The primary data will be Face to Face

administering of questionnaires and Interviews and the secondary panel data (not less 20

years) will be collected from company financial reports. The unit of study will be Public and

Private Sector Firms, which will include a sample of not less than 60 companies. These

include companies listed on the Jamaica Stock Exchange (JSE) and Companies under the

direct control of the Ministry of Finance (MOF). The study will target approximately 240

executives (executives, business managers and policy markers) selected from the

companies mentioned above.


Jacqueline Leckie-Johnson

Jacqueline Leckie-Johnson is responsible for the strategic and operations management

of the Finance and Accounting functions across the entire Lasco Group of companies.

Jacqueline has vast knowledge and expertise in the field of Finance and Accounts, Audit and

Information Systems, with over 20 years of management experience. She has played

leading executive management roles in major organizations throughout her corporate career

including Chief Financial Officer - Hardware and Lumber Limited, Group Chief Internal

Auditor – Grace Kennedy Limited, Senior Audit Manager - PricewaterhouseCoopers to name

a few.

Jacqueline was educated at The University of the West Indies where she obtained her

Bachelor of Science Degree in Accounting (Hons.) and MSc. in MIS (Distinction). She is a

fellow member of the Chartered Association of Certified Accountants, Certified Internal

Auditor and Certified Information Systems Auditor. Currently, Jacqueline is pursuing her

Doctorate in Business Administration; and has begun writing her dissertation focusing on

Business Turnaround.

Jacqueline is married to Lincoln and has two (2) children, Jodi-Ann and Jordan. She enjoys

listening and dancing to music, reading and is an avid sport fan.


Name: Jacqueline Leckie Johnson


School: Mona School of Business, UWI

Viewpoint: Business Turnaround is critical; however how the recovery

mechanism is executed and sustained is of growing importance

to increase the likelihood companies reversing their declining

profits or loss position.

Strategies for Managing Corporate Turnaround

ABSTRACT

Objectives: In the wake of the global financial crisis and resultant economic recession the

Jamaican business community is feeling the adverse effects. Many companies on the

Jamaica Stock Exchange have reported declining profits and subsidiaries of multinational

corporations in Jamaica have withdrawn due to losses. Revenue generating capacity of

these entities exceeds cost. Yet, initiatives for cost reduction often fail to achieve

meaningful results. This paper addresses this issue by proposing a holistic model for

reduction of excess costs and waste in organizations.

Value: Extends the literature on Cost and Waste Reduction: Operations, proposes a new

conceptual ground, application of ABC costing which assigns a value to excess cost

recognised. The proposed model is simpler to apply and more holistic than others in extant

literature.

Prior Work: Lawrence (2008) stated that beyond deciding what to do, managers must deal

with the technicalities of making turnaround happen; within this article he highlighted lean

program as such a mechanism deduced from the case study. The limitation is that this is a

case study and cannot be generalized. The importance of mechanism within the financial

distress literature was also recognized and three methods were proposed workouts,

bankruptcy or prepackage by Lawrence and Jones (2001).

Approach: This study is a nomothetic research design, deductive, using quasi-experiment

based on a survey instrument. Thirty (30) companies will be contacted to complete the

survey.

Findings: This proposal seeks to extend the turnaround literature, by providing a

mechanism to support the already available research on the content and process of this

strategy adaptation for organizations in decline. This approach combines (1) Lean Program

and Six Sigma principles from the field of operations management with (2) Activity-Based

costing from the field of managerial accounting. These principles focus on removal of


waste, inconsistency, bottlenecks, and poor specifications from organizations. Activity-

Based costing tracks the progress of expense reduction efforts. The utility of this model is

illustrated using data from a service-oriented company.

Key words: Lean Program and Six Sigma principles, Cost reduction, Process analysis,

business turnaround

Paper type: Conceptual

Doctorate in Business Administration 2010 Business Conference


Profiles and Executive Summaries

Track 3: (Day 2)

Leadership and Corporate Governance

Presentations

8:25 a.m. – 8:50 a.m. “Increasing creativity and innovation in organisations: Implications for leaders”

Dr. Donna Cooke (Florida Atlantic University)

8:50 a.m. – 9:15 a.m. “Codes of good corporate governance: a Caribbean perspective”

Marjorie Campbell

9:15 a.m. – 9:40 a.m. “Globalisation and the Caribbean: Defining the profile of effective resort industry leadership”

Paul Gardner

9:40 a.m. – 10:05 a.m. “The relationship between the dimensions of corporate governance and bank performance”

Sherry‐Ann Crooks

10:05 a.m. – 10:30 a.m. Discussant

Prof. Edwin Jones


Marjorie M. Campbell

Marjorie Campbell Is a Chartered Accountant with over 23 (twenty-three) years

experience at the executive management level, including over 15 (fifteen) years experience

in Finance and Accounting at the highest level. She holds an MSc in Accounting from the

University of the West Indies, and has pursued short courses at Duke University - Project

Appraisal and Risk Management, University of Pennsylvania - Wharton School – Critical

Thinking and Harvard University - Infrastructure in a Market Economy. She is a Member of

the Institute of Chartered Accountants of Jamaica and the International Hospitality,

Financial and Technology Professionals Association.

She is a former President and Chief Executive Officer of a major development and property-

owning entity in Jamaica that has been engaged in numerous primary and secondary

development projects. The entity also controls a number of subsidiary companies that are

involved in various commercial activities including ownership and management of hotels,

attractions, a water supply facility, shopping centres, a golf course and a conference centre.

Mrs Campbell is a director of a major Caribbean regional financial services entity with

operations in 20 countries in the region, the US and the UK. She is also a director of other

subsidiaries within the group and serves on the Audit and Corporate of Governance

Committees of both the parent and subsidiary boards. Mrs Campbell is pursuing a

Doctorate in Business Administration at the Mona School of Business of the University of the

West Indies, where she also lecturers part time in Financial and Management Accounting

She is a Justice of the Peace, an avid Roman Catholic and a director of the Stella Maris

Foundation, a community outreach programme of the Stella Maris Roman Catholic Church.

Her research interest is corporate governance; she proposes to carry out an empirical study

on corporate governance practices of CARICOM listed companies.


Name: Marjorie M Campbell



Research Interests: Adoption of codes of good corporate governance by CARICOM

listed companies

Viewpoint: The Treaty of Chaguaramas (July 1973, revised 2001) which

established the CARICOM CSME is postured towards achieving

sustained economic development within the region, primarily

through the international competitiveness of regional

businesses. In the last two decades regional growth averaged

1.8% compared to 3.5% - 4.3% in other developing countries.

This lethargic growth has resulted in high unemployment;

persistent poverty in several countries; high rate of drug

abuse; increase in violent crimes and other societal

degradation. Indigenous CARICOM companies’ ability to

increase their level of competitiveness and maximize their

potential is dependent on their ability to obtain intra-regional

and/or extra-regional capital infusion. Recognising that

CARICOM companies operate in a competitive global economy,

potential investors must be satisfied that adequate mechanisms

designed to protect their interest are in place. It has been

posited that the adoption of codes/principles of good corporate

governance, which is a critical component for efficient and

effective management of companies, enhances investor

confidence and induces investment. It is therefore essential

that CARICOM companies adopt codes/principles of good

corporate governance which will substantially enhance their

potential to acquire capital.

Adoption of Codes of Good Corporate Governance: A Caribbean

Perspective

ABSTRACT

Objectives:

1. To determine whether CARICOM listed companies have adopted codes of good

corporate governance and whether there is convergence towards Anglo-Saxon

corporate governance codes


2. Identify the most efficient governance practices for publicly listed companies in

the CARICOM region by developing a governance efficiency score based on

Anglo-Saxon codes of good corporate governance

Value: Existing literature on corporate governance is predominantly focused on the

influence that particular codes of good governance may have on firm performance in a given

country and the existence and contents of codes in multiple countries (Aguilera & Cuervo-

Cazurra, 2009). Yoshikawa & Rasheed, (2009) contends that although codes of good

corporate governance may be converged at the institutional level, lack of enforcement could

result in non-adoption at the firm level, hence the need for firm level convergence to be

empirically examined. Durisin & Puzone, (2009), posits that there is an empirical gap on

cross-national studies on corporate governance. Additionally, most studies on corporate

governance have focused on advanced economies with little or no studies being conducted

within the CARICOM region. The proposed study will empirically examine the adoption of

codes of good governance across regional countries at the firm level. A governance index

for CARICOM listed firms will be developed and used to evaluate firms’ corporate

governance practices and the most efficient governance practices determined.

Prior Work: A firm’s board of directors is regarded as the apex of the organisation and

the mechanism used for mitigating the agency problem that arises with the separation of

ownership and control (McIntyre & Murphy, 2008). Studies have found that boards with

larger percentage of outside director are less likely to fall into financial distress than boards

with a lesser percentage of outside directors(Chang, Sep 2009); outside independent

directors appear to strengthen corporate boards (Petra, 2005); CEO duality adversely

impact firm performance (Ehikioya, 2009); and that firms with stronger governance

architecture have a lower cost of equity compared to firms with weaker governance

(Reverte, 2009). The independent variables in these studies are reflective of the

requirements of codes of good corporate governance.

Approach:

1. Secondary data will be collected on non-financial companies listed on three (3) of the

stock exchanges in the region (Jamaica, Barbados, and Trinidad and Tobago) for the

period 1994 to 2008.

2. The contents of the annual reports of these companies will be examined to determine

their level of compliance with codes of good corporate governance and whether there

is convergence towards the adoption of Anglo-Saxon codes of good corporate

governance (as applied in the US and the UK).

3. A governance index for the companies will be developed and used to evaluate firms’

corporate governance practices based on the performance level achieved by different

firms.

4. A stochastic frontier analysis will be performed to determine the most efficient

corporate governance structure in and among non-financial CARICOM companies.


Paul A. Gardner

Paul Gardner is an accomplished hospitality industry professional with over twenty years

hotel experience in frontline, middle and upper management positions. His academic

credentials include a Doctor of Business Administration candidacy with the University of the

West Indies, Mona School of Business, and a Masters and Bachelors Degree from Northern

Caribbean University, Mandeville, Jamaica. He is currently the Managing Director of The

Wexford Hotel, in the tourism capital, Montego Bay. He is also a part-time management

lecturer with Northern Caribbean University, Salem Campus. His research interests include

the profiling of hospitality leadership in the 21st century and its effectiveness on profitability.


Name: Paul A. Gardner



Research Interests: Leadership styles, Motivational theories, Organizational

effectiveness, transformational leadership, Profitability

Viewpoint: As increasing demands are made on all hospitality organizations

to improve their performance, to anticipate change and develop

new structures, effective leadership performance maybe

essential to ensure that change leads to increased

effectiveness, efficiency and profitability. (Pittaway et al., 1998)

Globalization and the Caribbean: Defining the Profile of Effective

Hospitality Leadership

EXECUTIVE SUMMARY

Objectives: The research will focus on the leadership decision-making and behaviour that

effective resort leaders use to respond to the increasing changes and demands that

characterize the Caribbean tourism industry environment.

Value: A preliminary review of related literature supports the hypothesis that

effective resort leadership entails the enacting of a combination of leadership styles,

including entrepreneurial and transforming leadership in response to the effects of

accelerating global economic change. It is anticipated that the study will yield a philosophy,

methodology, praxis and profile of effective Caribbean resort leadership, which may prove

useful in resort leadership selection and program design.

Prior Work: Leadership, although heavily research in some industries has not been

adequately explored in the hospitality industry. Leadership as a subject has been somewhat

neglected within hospitality research and as a result few studies exist which investigate

leadership in the specific context of the industry. (Pittaway et al., 1998; Mullins, 1992)

Approach: Research data will be collected via structured, drop-off surveys and person-

to-person open-ended interviews with twenty effective resort leaders, in Jamaica. In the

case of the person-to-person interviews, the constant comparison method will be used to

analyze and compare participants’ description of their leadership decision making and

interacting and to generate representative concepts that interpret and explain their ongoing

leadership behaviour; whereas, in the case of the drop-off surveys, correlational data will be

used to determine whether and to what extent a relationship exists between leadership

praxis and resort profitability.


Sherry-Ann Crooks

Sherry-Ann Crooks a dynamic and goal oriented professional with extensive experience in

procurement administration, the supervision of financial institutions, project management

and accounting. She is presently the Director of Procurement Administration at the Bank of

Jamaica, where she is responsible for the procurement goods and services for the Bank in

an efficient manner, while ensuring the highest levels of transparency, accountability and

securing best value for money in the application of the Bank’s procurement budget.

Prior to her current position she held the post of Senior Analytical and Policy Officer at the

Bank of Jamaica, where she provided technical support and project management expertise

to special projects within the Financial Institutions Supervisory Division. Her key

responsibilities include the formulation of standards of sound business and financial practice

for the deposit-taking financial sector and the development of methodologies to govern the

division’s on-site examination procedures and off-site prudential approaches. She also held

the post of Senior Bank Examiner responsible for the planning, executing and reporting of

on-site examination findings of assigned financial institutions.

Sherry-Ann Crooks is a certified Project Management Professional (PMP) and a graduate of

the University of the West Indies, Mona Campus where she attained a B.Sc. in Accounting

with Economics and a MBA in Banking and Finance. She is currently pursuing a Doctorate in

Business Administration at the Mona School of Business, with research interest in the

Corporate Governance of Banks and Bank Regulation.


Name: Sherry-Ann Crooks


School: Mona School of Business, University of the West Indies,

Research Interests: Corporate Governance of Banks, Bank Regulation and micro

business financing.

Viewpoint: The failure of a financial firm is more severe than the failure of a non-

financial firm. The case can be made for bank directors to be held to a higher standard of

care than other directors, as banking crises have had tremendous economic and social

repercussions. The empirical evidence on the relationship between corporate governance

and bank performance is mixed, despite this, the corporate governance of banks and other

financial intermediaries is crucial for shaping capital allocation and stimulating productivity

growth at the firm level and at the country level.

The Relationship between Dimensions of Corporate Governance and Bank

Performance

EXECUTIVE SUMMARY

Objectives: This research seeks to examine the specific dimensions of corporate

governance, how each dimension is affected by the special problems facing banks and other

intermediaries and their relationship with bank performance. Ultimately, policy

recommendations will be made based on the findings of the research.

Value: The findings of this research project will contribute to improving

understanding about corporate governance practices in the Jamaican Banking sector, and in

what ways the banks can implement good corporate governance that aligns with bank

performance. The empirical results are intended to provide general indicators of corporate

governance useful for both regulators and business people in making policies and decisions.

Prior Works: The first recognized academic work on the issue of corporate governance

was Berle and Means (1932), followed by Coase (1937) as they recognized

ownership/performance issues arising from the growing separation of power between

executive management and their remote and diverse shareholders. This separation of

ownership and control has given rise to an agency problem, whereby management operates

the firm in their own interests, not those of shareholders (Jensen and Meckling, 1976 and

Fama and Jensen, 1983). Levine (2003) showed that banking crises dramatically advertise

the enormous consequences of poor governance of banks. Banking crises have crippled

economies, destabilized governments and intensified poverty. La Porta, Lopez-de-Silanes,

Shleifer and Vishny (2002) found evidence of higher firm performance in countries with

better protection of minority shareholders. Parker, Peter and Turetsky (2002) investigated

the association of various corporate governance attributes and financial characteristics in


the survival of distressed firms. They found that firms replacing their CEO with an outsider

were twice as likely to go bankrupt. Further, large levels of insider ownership were

positively associated with a good performance. Brook, Hendershott and Lee (2000)

postulate that significant board director ownership and board dominance by outside

directors, enhance the board’s ability to monitor and discipline managers.

Approach: The research will use a mixed methods approach to investigate the

relationships among dimensions of corporate governance and bank performance. The unit of

analysis will be Deposit-taking financial institutions in Jamaica that existed between 1996

and 2008. Secondary data will be collected from data contained in published annual reports,

one-on-one interviews and questionnaires. The method of analysis will be multiple

regression, descriptive and inferential analysis.


Elecif Arthurs

Elecif Arthurs is an Assistant Registrar at the University of the West Indies (UWI) Mona Campus. She has over twenty years experience in University Administration, Systems design, development and implementation. Over the years her focus has been on the use of technology to enhance organizational performance and to facilitate organizational development. Through her strong leadership and problem solving skills the UWI Mona Campus became the first of the three UWI campuses to introduce Web based student services such as registration and online access to student records. Elecif is currently one of the leaders involved in a Campus transformation initiative which is aimed at streamlining administrative processes and systems with a view to enabling greater use of the Enterprise Resource Planning (ERP) systems as strategic management tools. Elecif obtained an MBA in Human Resource Management and a B.Sc. in Management Studies from the University of the West Indies. She is currently a Doctoral student in the Doctor in Business Administration (DBA) programme at the Mona School of Business at UWI Mona Campus. Her research interest includes, Resource Utilization, Technology Adaptation, Leadership in ICT Mediated Environments, E-leadership and Organizational Development.


Name: Elicif Arthurs



E-leadership: A Case Study of E-Leadership in Higher Education

Institutions in Jamaica

ABSTRACT

Advances in Information and Communication Technology (ICT) are changing organizations

and impacting the way in which leadership occurs. Old practices are being altered and new

spaces, cyberspaces, and new practices and possibilities are being created Gurr (2004).

Adaptive Structuration Theory suggests that human behavior is influenced by, and

influences various organizational structures, such as ICT and leadership DeSanctis Geraldine

& Poole (1994).

This qualitative study will examine the effect of Information and Communication Technology

(ICT) on leadership in Higher Education Institutions. The study will be exploratory and will

utilize an inductive approach. The focus will be on identifying organizational adaptation to

the new environment created by ICT and the emergence of the E-leadership phenomena in

such organizations.

The purpose of the study is to understand (1) how the interaction between ICT and

leadership changes organizational structure (2) how “E-leadership” occurs in these

organizations with ICT mediated environments.

The Unit of analysis will be the organization and a Case Study Design and an Ethnographic

Strategy Method will be used in the research. The Study will contribute to theory of

Leadership through the understanding of E-leadership in Higher Education Institutions. It

will impact management and leadership practices in the way ICT can be used to enable

more effective leadership in these organizations.


Valoris Ionie Smith

Valoris Smith is a Fellow of the Chartered Association of Certified Accountants, (F.C.C.A.)

and Fellow of the Institute of Chartered Accountants of Jamaica, (F.C.A.). She obtained a

Diploma in Business Administration and a MBA in Finance and Banking from the University

of Technology (C.A.S.T) and the Mona School of Business, University of the West Indies

respectively.

Valoris is presently enrolled in the Doctorate in Business Administration programme at the

Mona School of Business, University of the West Indies. Her work experience with an

Executive Agency and the wider public sector has provided her with a platform to advance

her research agenda to impact Government’s policy decisions. Her research interest includes

Executive Agencies and the transformation of the public sector.

Valoris has vast knowledge and expertise in the field of Finance and Accounts, Audit, and

Management, with over 20 (twenty) years experience in Finance and Accounting at the

highest level. She worked as: Director Corporate Services at the Ministry of Tourism;

Director Corporate Management, Financial and Accounts Manager at the National

Environment and Planning Agency (an Executive Agency); Assistant Vice President Finance

and Administration at JAMPRO Invest and Trade; and as Assistant Audit Manager at

PriceWaterhouseCoopers.

Valoris serves as a member on the Audit Sub-Committee of the Board of Directors for the

National Library of Jamaica. She is also an adjunct lecturer at the University College of the

Caribbean.

Valoris is a member of the Lions Club of the New Kingston. She is married to Noel and has

three (3) children - Christopher, Tricia-Ann and Matthew.


Name: Valoris Ionie Smith



Research Interests: Executive Agencies; Capacity Building; Collaboration;

efficiency; Transformation of the Public Sector

Viewpoint: Executive Agency has an impact on the transformation of the public

sector in Jamaica.

Executive Agencies in Jamaica: An Approach to Administrative Reform

ABSTRACT

Objectives: This research will seek to explore the phenomenon Executive Agencies

whether the adoption of the business model – ideas generated in the private sector and

imported into the public sector (Hood 1991, 1995) – has led to Administrative

transformation in the Jamaican public sector.

Value: The value of this research is that the examination of the impact of Executive

Agency on administrative transformation in a developing country is an area that has not

been extensively researched. The study should result in policy transfer – which is “the

process by which knowledge of ideas, institutions … in one time and/or place is fed into the

policy making arena in the development of policies and programs in another time or place”

(Dolowitiz and March 1998) – in Jamaica and regionally.

Prior Work: Ferlie et al 1996 posit that the New Public Management (NPM) is a body of

managerial thought, and according to Thatcher (1995) the application of such techniques to

public services could lead to improvements in efficiency and effectiveness. The formation of

Executive Agencies gets its inspirational guidance from the NPM paradigm; with the concept

originating from a series of reform within the United Kingdom civil service in the 1980s.

Jamaica adapted the United Kingdom model with the creation of the first Executive Agency

in 1995 and has since continued the modernisation of the public sector with formation of ten

(10) other Executive Agencies.

The literature links NPM reform with building capacity (Bangor 2000); with Minogue (1988)

introducing business principles into public management to reduce costs. Academics and

administrative reformers are of the opinion that the NPM practices could bring about a

higher degree of efficiency, effectiveness, and responsiveness in the governing process

(Hughes, 1994; Pollitt, 1990). The literature review identifies the concept “public-private

partnership" and suggests that through collaboration increased efficiency over services

should result (Dunnigan and Pollock, 2003; Pollock et al., 2001; Shaw, 2004); to reform the

public sector (Flinders, 2002).


Approach: The research design will be an exploratory case study triangulates both

secondary and primary sources of data. Primary data will be generated from semi-

structured interviews with open ended questions; secondary source data will obtained from

the documents of the Executive Agencies studied; with the sample being purposive.

Doctorate in Business Administration 2010 Business Conference


Profiles and Executive Summaries

Track 4: (Day 2)

Entrepreneurship and the SME

Presentations

10:45 p.m. – 11:10 a.m. “Organisational ambidexterity and firm performance: An examination of the role of owner‐managers and employees”

Silburn Clarke

11:10 a.m. – 11:35 p.m. “The role of business incubation in entrepreneurial development in Jamaica”

Vanetta Skeete

11:35 a.m. – 12:00 p.m. “Critical success factors for small businesses in Jamaica”

Dawn‐Marie Ebanks

12:00 p.m. – 12:25 p.m. “The role of strategic networks in SMEs’ internationalization”

Cheralee Morgan

12:25 p.m. – 12:50 p.m. Discussant Prof. Rosalea Hamilton


Silburn St. Aubyn Clarke

Silburn St. Aubyn Clarke is the founder and CEO of Spatial

Innovision Limited {www.youtube.com/user/spatialinnovision)

and www.spatialvision.com}, the leading geospatial solutions

company in the Caribbean. Formed in 1998 the company has a

staff of 15 and a 2008 turnover of US$3mil. Headquartered in

Kingston, Jamaica, approximately seventy percent of the

company’s revenue is from outside of Jamaica. In 2008 the firm

was inducted into the Jamaica Exporter’s Association (JEA)

US$1million club, was named Champion Exporter for the

Services Category US$1mil to US$5mil and was awarded the

National Commercial Bank’s Regional Innovation Award. In

2009 the firm was again declared a Champion Exporter of the

JEA and was named a winner in the inaugural Pioneers of Prosperity 2009 Caribbean

Programme (www.pioneersofprosperity.org).

Silburn’s secondary education was at Kingston College in Jamaica. He has a Masters in

Engineering (Univ of London, Distn, 1980), an MBA (UWI, Finance, Distn, 1991) and a MSc

in MIS (UWI, 1995). He was the recipient of the Hart Prize for Academic Excellence in

Photogrammetric Engineering in 1979 from the University College London and was an

awardee of the 1984 UK Commonwealth Scholarship. He is a Chartered and Commissioned

Land Surveyor and a member of the Royal Institute of Chartered Surveyors. A honours

graduate of CAST, now the University of Technology (UTECH) in Land Surveying, he

lectured on geospatial sciences for over a decade and currently serves as an external

examiner for the Surveying and Geographic Information degree programme. In 2005

Silburn was elected a Patron of UTECH (Faculty of Built Environment).

Silburn has a keen interest in the application of spatial technologies in business and

government and has carved out a niche in implementing large scale projects across the

Caribbean. In November 2009 he was a recipient of the GIS Lifetime Achievement Award

from the Government of Jamaica.

Silburn entered the DBA programme primarily to update his business management

knowledge and skills. His research interest includes entrepreneurship, knowledge, culture,

strategy, firm ambidexterity and development with a particular focus on small firms.

Silburn is a member of the Strategic Management Society, the Academy of International

Business, The Academy of Management, the Southern Management Association, the System

Dynamics Society, International Council for Small Business, the American Psychological

Association and the Institute for Operations Research and the Management Sciences.

He has three sons; his eldest, Roshaun, is an international recording artiste with the group

TOK. His other two boys, David and Daniel, are budding entrepreneurs.


Name: Silburn St. Aubyn Clarke



Research Interests: SME, ambidexterity, entrepreneurship, culture, knowledge

management, economic development, capital structure, born

globals, business strategy, FDI

Viewpoint: Caribbean firms have an as yet unrealized, and unique, positive

contribution to make to global business and management

practice and theory.

Organisational ambidexterity and firm performance:

An examination of the roles of owner-manager and employee factors

EXECUTIVE SUMMARY

OBJECTIVES: The aim of this paper is to identify the relationships between the

behaviours of owner-managers and employees on organisational ambidexterity and firm

performance. In so doing the research will seek to suggest solutions to the chronic low

productivity and uncompetitiveness of small Jamaican firms, Gordon (2009), WEF (2010).

It will examine the relationship between firm performance in Jamaican SME’s, employees

and owner-manager behaviours and organisational ambidexterity. In particular;

1. What is the relationship between firm performance and organisational ambidexterity

in Jamaican small firms?

2. How does the balancing of exploitation and exploration activities in small Jamaican

firms impact long-run performance?

3. What behaviours at the individual levels in organisations (owner-manager and

employee) impact organisational ambidexterity and firm performance for small

firms?

4. How would one measure optimum balance?

VALUE: To Managers and Practice: The identification of appropriate strategies and

tactics through which small Jamaican firms can improve productivity and performance?; to

Academia: The expansion of the body of knowledge on organisational ambidexterity as it

relates to the organisational context domain within the harmonic class and in particularly

the impact of individual behaviours in small and medium firms; and to Policy through the

identification of the factors internal to the firm, which could benefit from supportive policy

frameworks and actions.


CONCEPT MAP:

PRIOR WORK: High performance firms are characterised by the twin capabilities of

differentiation and integration, Lawrence and Lorsch (1967). Firms that are able to exploit

and explore simultaneously and successfully are ambidextrous organisations, Duncan

(1976). Moreover, firms that focus on efficiency and productivity gains alone will suffer

decline, suggesting that a firm's ability to compete over the long-run is rooted not only in its

ability to improve efficiency and productivity but also in its ability to be both efficient and

innovative simultaneously (Abernathy, 1978: 173; Hayes & Abernathy, 1980). Maintaining

an appropriate balance between the exploitation and exploration activities for the firm was a

primary factor in system survival and prosperity and is the antithesis of firm mortality,

March (1991). Managerial action is important in setting the organisational context to

support firm performance, Ghosal and Bartlett (1994).

Ambidexterity may be achieved through adaptations of the firm’s structural/contextual

domains; through functional/structural/attribute domains adaptations in partnership

alliances; in its strategic posture (differentiation/low-cost); through renewal spurred by

innovations or via its processes; Duncan (1976), Gibson and Birkinshaw (2004), Lavie,

Kang and Rosenkopf (2008) , Porter (1996) Christensen (1997), Lee, Espinosa and

Delone, (2009). On its temporal and structural dimensions, organisational ambidexterity

may be classified as harmonic, cyclical, partitional or reciprocal (Simsek, Heavey, Viega and

Souder, 2009). This paper focuses on the contextual ambidexterity of small firms within

the harmonic typing.

There has been some work done on managerial actions impacting ambidexterity at the

business unit and firm levels, Mom, van den Bosch & Volberda (2007, 2009), on the role of

top management teams in attainment of organisational ambidexterity and firm performance

in small and medium firms, Lubatkin, Simsek, Ling & Veiga (2006).

However, there is a dearth of treatment in the literature on contextual ambidexterity in

small and medium firms, of the contribution of the behaviours of owner-managers, Bolinao

(2008), and employees as specific areas of investigation and explanation.

Employee Factors?

Owner Manager Factors (incl exploitation +

exploration behaviours?

Organisation Ambidexterity

Exploitation Behaviour

Exploration Behaviour

Firm Performance


THEORIES: Theories of organisation learning and organisation capabilities will be used to

explain the underlying process for the translation / conversion of employee’s individual

knowledge and skills into a group level and into an organisational level dynamic capabilities,

March (1991), Teece and Pisano (1994), Grant (1996), Crossan Lane and White (1999).

The theory of corporate entrepreneurship, Stevenson and Jarillo, (1990), will be used to

explain the behaviour of the owner-manager in an SME.

STRATEGY: A multi-level research strategy will be designed to facilitate the data collection

and analysis of both individual and firm level responses (Rousseau, 1985). A quantitative

survey of owner-managers, employees and firm factors in Jamaican small businesses will be

conducted.

Sampling: Random drawn from SBAJ, JEA, JPC, JTI and JMA databases

Firm Stage: late growth, maturity and decline;

(new ventures, start-ups and early growth firms not

included)

Firm Size: SME ( as defined by the SBAJ)

Firm Nationality: Jamaican

Individual UOO: Owner-manager and employees

Analysis: Multi-level

Analysis will be executed using PLS / SEM techniques.


Vanetta Skeete

Vanetta Skeete is a Senior Lecturer in the Faculty of Business and Management at the University of Technology, Jamaica (UTECH). She has 17 years experience in lecturing at the tertiary level and has lectured in Strategic Management, International Business and Entrepreneurship. Vanetta’s current research interest is in Entrepreneurship, specifically, Business Incubators; the Creative Industries; and the Informal Sector. Vanetta is currently the team leader of the Global Entrepreneurship Monitor (GEM) Jamaica research project and has led the GEM research team at UTECH in the publication of the 2006 and 2008 GEM Jamaica Reports. She has written and presented at three international conferences - papers entitled: Franchising in Jamaica; Entrepreneurial Opportunities in Jamaica; and On the Periphery: Jamaica’s

Financial Sector and Small Business Development. In addition to her academic exploits, Vanetta has served as president of UTech’s Academic Staff Union, as a Member of the University Council, the University’s Academic Board and on the Board of the Faculty of Business and Management. Vanetta holds an MBA from Nova Southeastern University and a BSc in Management Studies from the University of the West Indies.


Name: Vanetta Skeete



Research Interests: Entrepreneurship: Business Incubators; the Creative

Industries; and the Informal Sector

Viewpoint: Effective business incubation programmes can play a significant

role in enhancing entrepreneurial activity and hence a country’s

economic development.

________________________________________________________________

Role of Business Incubators in Entrepreneurial Development in Jamaica

EXECUTIVE SUMMARY

Objectives: The research explores the potential of business incubators as a tool in the

development of entrepreneurial activity in Jamaica. It examines the effectiveness of the

services provided by the incubator for its clients, the impact of the incubator programme on

graduate firms and the role of management in achieving incubator success. It attempts to

develop a conceptual model that positions the incubator as a catalyst for the enhancement

of entrepreneurship in Jamaica and other developing countries.

Value: The business incubation concept has been attracting greater attention from

universities and researchers, governments, donor agencies and private sector interests who

believe that entrepreneurship plays a significant role in economic development.

Additionally, the study may inform prospective entrepreneurs and other community

interests on the option that the incubator provides for business development.

Prior Work: Business incubation is widely viewed as an effective support measure for

young and innovative ventures (Schwartz, 2009). Several authors have examined the

potential of incubators as a tool for enterprise development (Atherton & Hanon, 2006;

Sherman, 1999; Albert & Gaynor, 2004; Lalkaka, 2000 ) and have examined different

aspects of incubator programs in order to determine their effectiveness. Not only is the

trend toward an increase in the number of incubators, but it has been largely recognized

that there is a need for incubator models that effectively address the specific circumstances

of countries, regions or communities (Lalkaka, 2004). Despite the popularity of incubators

worldwide, the concept is fairly new to Jamaica and the Caribbean region where very little

research has been done on the concept.

Approach: The research explores the concept of business incubation, using Jamaica’s only

incubator, the Technology Innovation Centre, as a case study. Best practices of successful

incubator programmes world-wide are integrated into the findings to develop a conceptual

model.


Dawn-Marie Ebanks

Dawn-Marie Ebanks is currently enrolled in the Doctorate in Business Administration

programme at the University of West Indies, Mona having previously completed both a

Bachelors and an EMBA degree at the same institution. Dawn has over twenty years of

experience in finance and administration in both private and public sector organization

including Alcan Jamaica Company and the National Water Commission. She is currently the

Director Human Resources and institutional Strengthening at the Management Institute for

National Development.

The observations and hypothesis generation which would later help to shape her ideas for

her doctoral research began at that venerable cornerstone of many Jamaican small

businesses, the “Chinese shop.” As the eldest child, she was the first to be able to see over

the “counter,” the only qualification needed for this “shop,” where prized garments took the

place of groceries passing over the counter in a Dry Cleaning Establishment.

Having literally grown up as a part of a small business, it is no surprise then, that, her

research will focus on defining and characterizing the critical success factors which are

essential for the success and longevity of a small business, with the ultimate aim of

developing an executable model applicable to a wide range of small businesses.

Dawn has one daughter, Jordanne with whom she is joined at the hip.


Name: Dawn-Marie Ebanks Email: [email protected] School: Mona School of Business, UWI Mona Research Interests: What factors causes success/failure for small businesses. ______________________________________________________________

The Critical Success/Failure Factors for Small Businesses in Jamaica

EXECUTIVE SUMMARY

Objectives To identify the critical success/failure factors for small businesses in Jamaica. Value There is no doubt that while there are critical success factors that are ‘common’ across borders there will be many that are influenced by culture and others that are country specific. It is for this reason that the study must be conducted for Jamaican SME’s. There are many success stories marked noticeably by the survival, longevity and or growth of firms even though success doesn’t mean growth as 35% of sme’s remain unchanged for most of their life/growth cycle Headd and Kirchoff (2009). It is expected that the study will equip small businesses with the areas of focus needed for success based on examples of businesses in the same industry that have been successful. The study will have implications for policymakers that will come out in the findings and show the support that is needed for successful businesses.

Prior Work In a study of perceived success factors for Jamaican businesses Huck and McEwen (1991) identified the three most important competency areas as management, planning/budgeting, marketing/selling. Previous work has often focused on asking successful business operators the factors responsible for success in their business, i.e. their perception, these include, good management, planning, government support (Headd, Kirchoff 2009; Churchill, Lewis 1983; Yusuf, Attahir1995; Hill, Nancarrow, Wright 2002; Hall 1994; Shonesy, Gulboro 1998). The factors that contribute to the failure of small businesses have also been widely studied and include poor management, financial distress, undercapitalisation (Cochran 1981; Krocger, Carroll 1974; Okapara, Wynn 2007; Boyle, Desai 1991 ;).

Approach The quantitative research methodology will be used to determine the factors that Jamaican small business operators perceive as critical for the success/failure of their operations. Factor analysis will be used to identify the top critical success/failure factors. Key Words: Small Business, Success/failure Factors, Entrepreneurs


Cheralee Morgan

Cheralee Morgan is a Businesswoman, Lecturer and

Consultant. She is a listed Caribbean Development Bank (CDB)

Consultant and has provided consultancy services in the areas of

marketing and production engineering to top Jamaican and

international companies. She is an International Independent

Distributor at the "Top Achievers Business" team level with

Herbalife International for the last eleven years and manages a

business network of team members spanning over eight

countries.

Cheralee has served on several boards including being Vice

Chair for the Textile Committee at the Bureau of Standards and

the Chairperson for the HEART Garmex Academy for the last

eleven years. She has been presented with a number of awards by the Institution including

the “Distinguished Tenure Award" for service to HEART Trust/NTA. She has over fifteen

years experience working in the Public Sector. She worked in several positions at JAMPRO

Corporation including Manager of the Engineering Division and Director for the Textile and

Sewn Products department for over ten years.

Cheralee is a trained Educator and has lectured at a number of institutions, including B&B

University College, University of Technology, University of the West Indies, University

College of the Caribbean, and Morant Bay High School. Cheralee holds a Diploma in

Teacher Education (UWI), a BSc in Management Studies Hons. (UWI) and a Masters in

Business Administration (UWI). Cheralee is actively involved in social work including

ongoing support to the Walker’s Place of Safety and also sponsors a child in Kenya. She is

an avid sports enthusiast, and was a member of the winning Clarendon College Volleyball

team. She was also a member of the Sam Sharpe Teachers' College, and the JAMPRO

Business House Netball teams.

Cheralee is presently enrolled in the Doctorate in Business Administration programme at the

Mona School of Business (MSB). Her research interests include strategic networking,

entrepreneurship, marketing, production management and internationalization, with a focus

on small and medium-sized enterprises. Cheralee has one son, Sheldon.


Name: Cheralee Morgan



Research Interests: SMEs, Strategic Networks, Internationalization

Viewpoint: The progress and survival of small and medium-sized

enterprises (SMEs) have always been moderated by their ability

to access and harness the requisite portfolio of resources that

can foster their effective growth, development and

competitiveness. Strategic networking has been proposed as a

mechanism which can facilitate SMEs’ access to resources, and

foster improvement in organizational efficiency which can

further enable their successful growth and competitiveness in

their pursuit of international business opportunities (Jarillo,

1988; Fuller-Love and Thomas, 2004; Miller and Besser, 2005;

Mort and Weerawdena, 2006).

The role of Strategic Networks in SMEs’ Internationalization

EXECUTIVE SUMMARY

Introduction: Lack of strategic networking among SMEs has greatly impeded their ability

to access critical resources to improve their growth and competitiveness. This has impacted

on SMEs’ longevity and their successful pursuit of international business opportunities.

Small and Medium-sized Enterprises (SMEs) have always been considered the “under dogs”

in most aspects of business operations and management. A micro view has always been

“lensed” their way, both locally and internationally, and as such many key global players do

not consider SMEs as important partners worthy of teaming with to gain any type of

competitive advantage. Also, a considerable number of small businesses fail at their infancy

stage and others within a few years of inception (Watson and Everett, 1996; Ladzani and

van Vuuren, 2002; Mort and Weerawardena, 2006). Literature has attributed this to

'resource poverty' (Welsh and White 1981); lack of financial capital (Boer, 1992) or

management skills (Martin and Staines, 1994) management skills, previous experience and

export knowledge, lack of command of foreign language, cultural experience, poor

knowledge of foreign market information, and fear of foreign market risks/Physic distance

(Rutashobya and Jaensson, 2005).

A growing number of researchers however challenge this view and posit that small firms

have found unique ways of overcoming their "smallness" (Gomes-Casseres, 1997); in

particular, entrepreneurial small firms may overcome size-related constraints through

network relationships (Dubini and Aldrich, 1991; Coviella and McAuley, 1999; Johannisson


and Monsted, 1997; Mort and Weerawardena, 2006). Coviello and Munroe, (1995); Fuller-

Love and Thomas, (2004); and Carson et al., (2004) cautioned that despite interest in

networks and networking activities, a certain amount of disagreement exists regarding what

networks are, and how they operate. Similarly (Brunetto and Far-warthon, 2007) concurred

that there remain a void in fully understanding the issue for SME’s involved in networking,

and that the research that has been undertaken has focused primarily on networks

comprising large firms. Johnsen, (2007) further advance the discussion by purporting that

strategic networks for internationalization and global positioning are becoming increasingly

important for small and medium-sized suppliers to develop their international activities

through the encouragement and co-operation of other firms.

Research Problem: How does strategic network impact SMEs' internationalization?

Approach: The proposed approach with consist of the following steps:

i. Literature Review

ii. Research Design

iii. Methodology

iv. Presentation of Findings

v. Conclusions

Objectives: This paper will examine literature related to the areas of SMES, networks and

internationalization. The proposed research study is intended to achieve the following

objectives.

i. Contribute to the body of research on SMEs' strategic networks and

internationalization.

ii. Provide SMEs' owner/manager and industry stakeholders with a model to inform

policies and programmes pertaining to SMEs' internationalization.

Document Access:

Conference presentations may be viewed at :

www.issuu.com/dbaone/docs

Cohort Website :

www.dbaone.biz

DBA 2010 Conference Planning Committee

Jacqueline Leckie-Johnson: Chair, Secretariat Charmaine Nelson: Chair, Programmes Elicif Arthurs: Chair, Facilities Dawn-Marie Ebanks: Chair, Finance Cheralee Morgan: Chair, Media & Brochure Denis Gray: Finance Archibald Campbell: Planning Silburn Clarke: Technology, Brochure, Media

brochure - dba 2010 conference

Documents

myriad business

members of cohort

mona school of business

members of dba cohort

dissertation research

research phase

rigorous management

scholarly research