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Mona School of Business and Management (MSBM) is pleased to present the eighth

annual MSBM Roundtable in partnership with the Construction Industry Council.

The 2017 MSBM Roundtable CEO Breakfast Forum with the focus on “Construction

as Driver for Economic Growth” is a unique opportunity for construction industry

professionals to discuss shared problems and solutions, shape the future of the

industry and hear from some of the most influential leaders in the industry.

With Jamaica in pursuit of economic growth through the activities of the Economic

Growth Council (EGC) and various initiatives in the private and public sectors, this

thrust is crucial to reduce unemployment and public debt and increase the general

standard of living of citizens.

The private sector is the engine for economic growth and needs the appropriate

infrastructure for best results. Construction is at the heart of this infrastructure.

Studies have shown a strong causal relationship between the aggregate economy

and the construction sector. However, data from the Planning Institute of Jamaica

shows substantial decline in housing starts, construction sector employment and

percentage contribution to GDP. In addition, Jamaica has not yet developed a

fulsome strategic plan to align the construction sector with the economic growth

ambitions.

(Continued on page 4)

Dr William Lawrence Director Professional Services Unit Mona School of Business & Management, UWI

MESSAGE FROM THE CONVENOR

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At Mona School of Business and Management we

believe that the nexus between research and business is

critical to Jamaica’s and the Caribbean’s growth,

prosperity and development. Through our research

work with businesses and industries we have been able

to exchange the best ideas and uncover solutions to

empower local and regional business leaders to make

evidence-based financial decisions for long-term

business success and much needed economic growth.

This year, the CEO Breakfast Forum will focus on how

together we can help to influence government policy

and improve business strategies to grow the existing

construction industry, and build on its foundations,

skills and capabilities. In strengthening these ties the

national economy stands to benefit.

We have brought together a special mix of presenters

and stakeholders from the private and public sectors to

promote information exchange and linkages as we

explore the opportunities for development and wealth

creation.

(Continued from page 3)

Any event of this size needs to have a dedicated team

behind the scenes, largely invisible, but without whom

things could not function as they should. Thanks to the

members of the Planning Committee for their considerable

efforts in making the 2017 MSBM Roundtable CEO

Breakfast Forum a reality.

Special commendation to our partners, sponsors and the

media who are also integral to our success. Finally, let me

wish for all our participants a very intellectually stimulating

experience.

MESSAGE FROM THE CONVENOR

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Mona School of Business and Management (MSBM), established on August 1, 2012, evolved from the merger of the former Mona School of Business (MSB) that had a 25 year history of delivering master’s level business management education and the Department of Management Studies (DOMS) which had a rich 42 years history of delivering undergraduate and graduate management programmes.

MSBM’s mandate is to be the arm of the University of the West Indies that facilitates effective business education and practices in the private and public sectors in order to advance the economic development agenda of Jamaica and the region by:

• creating human capital through business and management education programmes

• delivering executive education and professional development training

• creating intellectual capital through the conduct of research and the dissemination of the findings

• providing management consultancy services

• creating social capital through outreach activities in the wider society

MSBM offers a variety of undergraduate and post graduate degree programmes including the MBA which is accredited by the Association of MBAs, (AMBA). The School complements its unique academic programmes with cutting edge consultancy services and public policy research, the principal business objective being to provide decision makers with expert advice for handling their most critical strategic issues. MSBM is also a Registered Education Provider of the Project Management Institute .

MSBM has handled a large portfolio of multidisciplinary projects in Jamaica and the region relating to leadership and management development, strategic thinking and management, project and performance management systems, and other areas of professional services and continues to contribute to the development of a particular ethos within the business community in Jamaica and the region.

MESSAGE FROM THE CONVENOR

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The construction industry plays a critical role in the socio-economic development of

Jamaica. The activities of the industry are important to the achievement of national

socio-economic development goals of providing infrastructure, sanctuary and

employment. It includes hospitals, schools, townships, offices, houses and other

buildings; urban infrastructure (including water supply, sewerage, drainage);

highways, roads, ports, railways, airports; power systems; irrigation and agriculture

systems; telecommunications etc. In addition, the construction industry provides a

growth impetus to other sectors through backward and forward linkages. The

industry has a close relationship with clients and financiers. The government is

involved in the industry as purchaser (client), financier, regulator and operator.

Since the construction industry is a fundamental economic activity which permeates

most of the sectors of the economy it has a major role to play in achieving social

economic development objectives of any country; local firms and professionals

should be fully involved in the process. The sector has an indirect impact on the

growth or stagnation of the overall economy. Furthermore, the development of a

strong construction industry should be supported by sectoral and macro-economic

policies geared towards stimulating growth and competitive position of the local

actors. Experience has shown that development of the construction industry

requires government commitment, many years of sustained effort and the right

operating environment. A good economy is equally important as it creates demand

for its services.

It is, essential therefore, that, this vital industry is nurtured for the healthy growth of

the economy.

Gary O. Walters, P. Eng., M.J.I.E., M.B.A. Chairman Construction Industry Council

MESSAGE FROM THE CONSTRUCTION INDUSTRY COUNCIL

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The Construction Industry Council (CIC) is the umbrella

organization for the building and construction sector which

provides a single voice for most professional associations

within the industry.

The Council was formed in 1960 as the Joint Consultative

Committee for the building and construction industry with

three associations:

• Jamaica Society of Quantity Surveyors

• The Master Builders Association of Jamaica

• The Jamaican Society of Architects.

The first order of business was to set a standard for wages

in the construction industry. The Cumper and Allen Wage

award which was used at the time resulted in chaos and

made wages too expensive. This was achieved and

spearheaded by Sergei Kadleigh of The Jamaican Institute of

Architects, A W. Berryman of The Jamaica Society of

Quantity Surveyors and L. D. Gennings of the

Masterbuilders Association of Jamaica , who produced the

first JCC document “ The Adjustment of the Cumper

and Allen Wage Award “

Following the production of the wage award the

group met regularly to look at other issues in the

industry and he group became known as the Joint

Consultative Committee. In 2002, the JCC changed its

name to the Construction Industry Council and

expanded its membership to include the Land

Surveyors Association of Jamaica.

The functions of the CIC were stated as:

• To provide a medium whereby matters of mutual

interest and concern to key industry practitioners

may be discussed, with appropriate action taken

where necessary.

• Draft, study and recommend industry codes and

practices for adoption by the constituent bodies.

• Conciliate and or arbitrate on disputes between (Continued on page 9)

THE CONSTRUCTION INDUSTRY COUNCIL

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constituent bodies, if requested by the parties to the

dispute.

THE CIC’S STRUCTURE

The Committee consists of three nominees from each

constituent body. It annually appoints a chairman, vice

chairman and secretary/ treasurer who along with the

past chairman constitute the officers of the committee.

The Chair is selected on a rotating basis from among the

seven professional bodies currently represented on the

Council.

Currently the Council comprises professionals from the

following associations:

• Association of Land Evaluation Surveyors

• The Jamaican Institute of Architects

• The Jamaica Institution of Engineers

(Continued from page 7) • The Jamaican Institute of Quantity Surveyors

• The Incorporated Master-builders Association of

Jamaica

• Jamaican Institution of Planners

• Land Surveyors Association of Jamaica

The CIC Achievements:

• Establishment of a standard wage award for the

industry.

• The Standard Form of Building Contract Private

edition with Quantities.

• The Agreement for minor Works ( Building works)

• The Code of Procedure for selective tendering

(Engineering works )

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Congratulations to the Mona School of

Business and Management and the

Construction Industry Council on

partnering to stage the 8th Annual

Roundtable event on “Construction as

Driver for Economic Growth”.

The construction industry is a sector of

the economy that transforms various

resources into physical, economic and

social infrastructure necessary for socio-

economic development. It has the

potential to become one of the

most dynamic developing sectors in

Jamaica’s economy.

The MSBM Roundtable supports the

Business School's mission and

values of producing research that

makes an impact on society,

business and the economy. Through

partnerships with organizations

such as the Construction Industry

Council, Mona School of Business &

Management has taken a leadership

role in regional and global business

research and is able to create best

practices tailored to the needs of

each industry sector while

positioning that industry for the

future.

programmes are now designed to

investigate issues affecting

Patrick Hylton Chairman Mona School of Business & Management, UWI

MESSAGE FROM THE CHAIRMAN

Caribbean businesses, industries and

economies and provide practical

solutions.

The forum has become a pivotal arena

for bringing together business leaders,

senior executives, policy makers,

academia, entrepreneurs and leading

professionals in the public and private

sectors to discuss, engage and gain

insights into the impact of current and

future business trends.

We, at National Commercial Bank have

been the beneficiary of such a

partnership with MSBM, who recently

conducted applied research in

Corporate Transformation. This

research presented us with business

models and business intelligence that

are critical to our quest for the

competitive advantage, growth and

sustainability.

I commend the MSBM Team for their

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On behalf of Mona School of

Business and Management, I am

pleased to extend to you a

warm welcome to this our

eighth staging of this annual

CEO Breakfast Forum, which is

being held under the theme

“Construction as Driver for

Economic Growth. This is a very

significant event on the school’s

annual calendar and we are

delighted that you have come to

share with us.

At MSBM, we pride ourselves as

being forward thinking and

solution oriented and this event is

one of the ways in which we

engage with the Business

Community to provide insights

from our research to guide the

growth and development of small,

medium and large organizations

challenged to access capital,

create jobs and maintain

sustainable growth while

contributing to the national

economy.

With Jamaica pursuing economic

growth through the activities of

the Economic Growth Council

(EGC) and various initiatives in the

private and public sectors, “the

aim of the MSBM Roundtable is to

Michael Williams Executive Director Mona School of Business & Management, UWI

MESSAGE FROM THE EXECUTIVE DIRECTOR

promote dialogue among stakeholders in the

construction industry, the financial sector,

academia, business leaders and decision-

makers in government and the private sector

to improve competitiveness and shape the

economic development of Jamaica and the

Caribbean.”

In that regard, this year’s focus on the

Construction industry is therefore timely as

construction is at the heart of infrastructure

and studies have shown a strong causal

relationship between the aggregate

economy and the construction sector.

We are therefore pleased to partner with

the Construction Industry Council in to host

this year’s event. We are also very pleased to

have members of our faculty present

research findings that will no doubt help to

spur the growth and development of the

sector.

I am sure that, this year’s event will be

rewarding, enriching and beneficial to all of

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WEDNESDAY, JUNE 28 | 7:00 a.m. - 10:30 a.m.

Talk of the Town | The Jamaica Pegasus Hotel

REGISTRATION

WELCOME AND OVERVIEW

Professor Ishenkumba Kahwa

Deputy Principal, The University of the West Indies, Mona

REMARKS

Mr Michael Williams

Executive Director, Mona School of Business & Management, UWI

REMARKS

Mr Gary Walters

Chairman, Construction Industry Council

REMARKS

Professor Ian Boxill

Dean, Faculty of Social Sciences

The University of the West Indies, Mona

CONSTRUCTION AS DRIVER FOR ECONOMIC GROWTH

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REMARKS

Mr Patrick Hylton

Board Chairman, Mona School of Business & Management, UWI

PRESENTATION: Research Paper: Construction As Driver For Economic Growth

Dr Cecil White and Dr William Lawrence, Mona School of Business & Management, UWI

REMARKS

Dr Peter Phillips, MP

Leader of the Opposition

ADDRESS

The Honourable Dr Horace Chang, MP

Minister without Portfolio, Ministry of Economic Growth & Job Creation

ADDRESS: The Need for a Meaningful Construction Industry Agenda for Jamaica

Mr Donald Mullings

Past President, The Incorporated Masterbuilders Association of Jamaica &

Managing Director of M & M Jamaica Ltd.

REMARKS: Development - The Stimulus For Economic Growth

Dr Damian Graham

General Manager, Urban Development Corporation

REMARKS : Public Private Partnership Critical for Growth in Construction Industry

Ms Tiffany Gordon

Chief Mortgage Sales, JN Bank

OPEN DISCUSSION

EVALUATION AND CLOSING

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THE HISTORY OF THE MSBM ROUNDTABLE SERIES

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The Mission of Mona School of Business and Management is “to be an innovative, solutions oriented school of business and management which produces internationally competent and capable management professionals and leaders through teaching, research and regional and national service.” In this regard, a key initiative launched in 2010 was the MSB Roundtable Series - an annual forum where senior organizational leaders, in the Caribbean, find solutions to their most pressing problems by engaging international experts and academia in meaningful dialogue.

Managing Risk for Growth and

Development

The first in the series, MSB Roundtable 2010 was held in partnership with the Caribbean Association of Actuaries and the UWI Department of Mathematics at Mona Visitors’ Lodge & Conference Centre at The University of the West Indies from May 4-5, 2010. At this event more than 40 senior business leaders were introduced to new strategies and tools for anticipating and coping with different types of organizational uncertainties.

The following recommendations emerged :

1. Use new analytical tools e.g. liquidity tools

2. Make more conservative assumptions

3. Conduct regular stress testing and back-testing of assumptions

4. Develop organisational culture of risk management

5. Separate critical from non-critical risks

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Organizational Renewal: From Recession to Recovery and Growth

MSB Roundtable 2011 was held in partnership with Deloitte Touche Rohmatsu and Turnaround Management Association on June 16, 2011. This event was also successful and the 73 business leaders and public sector administrators in attendance deliberated effective strategies for business recovery from losses and insolvency.

Organizational Growth: Securing the Present and the Future Mona School of Business partnered with Sandals Resorts International to host the 3rd Annual MSBM Roundtable on June 28, 2012. The 64 participants discussed how to seize business opportunities and transform organizations. The following roadmap for Organizational Growth was posited at MSB Roundtable 2012:

● Pursue your passion and dream

● Think “out of the box”

● Leverage technology

● Engage the global community

● Build Supportive relationships

● Prepare for the unexpected

● Learn from the past and others

The following recommendations emerged :

1. Introduce full bankruptcy legislation for company rehabilitation

2. Use qualitative performance dashboard to recognize early signs of organisational decline

3. Rehabilitate firms based on one of four pathways (extent of financial distress and source of decline)

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How to Compete for Organizational Growth: A Roadmap for Success Organizational growth is needed in all economic sectors of the Caribbean to increase the standard of living of citizens and establish a solid foundation for future generations. The global business climate is propelled by the rapid pace of change, unrestricted access to information and intensifying competition. Caribbean organizations are challenged by limited revenue streams and relatively low productivity in a world more unforgiving of

Anthony Hylton, Minister of Industry Investment and Commerce, proposed that Jamaica’s logistic hub would generate economic growth by providing local producers with global connectivity.

Kelly Tomblin, CEO of Jamaica Public Service, urged organizational leaders to engage employees at all levels with clear communication of the vision and mission.

Densil Williams, then Deputy Executive Director of MSBM, argued that more firms need to become regional in order to achieve desired growth.

Miguel Carrillo, Executive Director of Arthur Lok Jack Graduate School of Business, UWI, St Augustine Campus urged companies to trade within target countries and not merely between countries. This could be enhanced with multi-language training of employees.

The following recommendations were made at

MSBM Roundtable 2013 :

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Transforming Organisations for Growth MSBM Roundtable 2014 was hosted in partnership with National Commercial Bank Jamaica on Wednesday, June 18 at the Mona Visitors' Lodge and Conference Centre. In his message, the Vice Chancellor of the UWI, Professor E. Nigel Harris, stated that the theme Transforming Organizations for Growth was appropriate, as business transformations encompassing organizational structures, processes and cultures were necessary for maintaining vitality, improving efficiency and fueling performance. Business reinvention has to become an integral part of the thinking of Jamaican-based firms.

1

Peter Noteboom, McKinsey & Company, presented a five-step approach for transformational change for organizations to achieve not only good performance but also good health. This process involves aligning and managing the organization towards the desired future with a workable plan to sustain the gains achieved.

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Alan Tilley, Turnaround Management Association, argued that Jamaica’s new Insolvency Act should include a pre-insolvency period to allow out-of-court workouts for business rehabilitation.

3 William Lawrence, Mona School of Business & Management, illustrated how firms can strengthen business models for increased productivity through employee incentives to build commitment, leveraging dynamic capabilities, providing commercial solutions of value for customers and managing productivity.

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Organizational Renewal, Transformation and Growth Mona School of Business and Management (MSBM) in partnership with National Commercial Bank Jamaica Limited hosted the 6th Annual Roundtable for CEOs, senior managers and entrepreneurs on Wednesday, June 23, 2015 at the Terra Nova All-Suite Hotel, Kingston, Jamaica. The forum convened with 88 of Jamaica’s outstanding business leaders and executives. The aim of Roundtable 2015 was to provide an opportunity for sharing with decision-makers how to execute practical models for business transformation and business intelligence that are critical for yielding competitive advantage, growth and sustainability. Preliminary findings of MSBM Research, sponsored by National Commercial Bank Jamaica Limited provided participants with some of the tools that will help their organizations to create and enhance roadmaps for business excellence based on real world experience.

RECOMMENDATIONS FROM MSBM ROUNDTABLE 2015

1 Financial Institutions need to transform the way they create and deliver value by making changes to profit formula, customer value proposition, organizational capabilities

2 Governments need to be mindful of the

impact of global and local policies, in critical

areas such as FI regulation and taxation (JDX

& assets), on FI performance and health.

3 Access to Capital is required to drive growth

4 There is potential for organizations to link technology and people in similar ways for greater collective intelligence in the organization

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MSBM Roundtable 2016 looked at the merits of using a stock market to obtain equity capital for driving business transformation and consequent economic growth. What are the lessons from experience and knowledge? What are the required Government policies? What strategies should firms in the private sector adopt to leverage stock markets for profitable growth? The CEO Breakfast Forum discussed and put forward practical answers in line with the theme: Stock Market as Driver for Economic Growth.

HIGHLIGHTS FROM MSBM ROUNDTABLE 2016

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