More people than ever before earn their living by thinking. It generally considered an endorsement when a person is described as “knowledgeable”. It tends to mean that the person is well-informed about a situation or subject and worthy of trust.
Is knowledge overrated?
Research shows that Continue reading
The government of Barbados is under tremendous pressure to make significant, sustainable changes in the country’s economic fortunes and to reform practices that obviously don’t work as they should. The object being, a country has global respect for its excellence and quality of life. Typically, this is the time when the “experts” are brought in to: analyze, strategize, do studies, write reports, advise, make plans and establish terms of reference.
Since I am a practicing Certified Management Consultant (CMC), I must declare that I have a vested interest and a biased view of how this process should unfold. I have been involved in consulting activities around the world, for more than 50 years and have been based in Barbados since 1993.
The International Council of Management Consulting Institutes (ICMCI) estimates that in developed, mature markets, 1 person per 1000 population is a “consultant”. In developing countries and “immature markets”, the ratio is estimated to be 1 in every 2000. So, in Barbados, there are many people offering “consulting” services. Because of my extensive involvement in the industry and the profession, I know that many of these person are simply calling themselves “consultants” while looking for a job. It sounds nicer than “unemployed”. Others are experts or specialist in a technical area that’s in demand. That can range from IT to medicine, to the “financial advisors”; that populate the landscape.
I am not making these observations to disparage anyone. I happen to know that it is not uncommon for politicians and some corporate executives to circumvent hiring restrictions and provide income for friends and family members. The record will also show that some of these funds have found their way into the pockets of those authorizing the contracts. Today, I spoke with a person who had first-hand experience of a “consultant” being brought into a government department on a six-month contract that was extended to eighteen months. The contract ended because it was clear that no effective work was done and the problem had gotten increasingly worse.
The scandals that have been attributed to nefarious management consulting practices have made headlines all over the world. We have notorious ones right here in this region. In the wake, legislation has been enacted to appease the victims and give the appearance of minimizing risk. The influence of management consultant is so pervasive that we are often unaware that it touches us unless something goes wrong.
I am raising this now because this is clearly a time when management consulting services are needed. Not the “do a study and write a report” type but one that requires committed professionals who are experienced at “walking” the client through the changes. Management consulting is a trillion dollar a year industry. Consulting services represent a substantial foreign exchange drain on our economies because 92.5% of fees are paid to non-regional consultants.
There are now ISO standards that define best practice, essential processes and necessary competencies for management consultancy. In Barbados and the Caribbean, there are growing number of management consultants who have obtained certification to these globally-recognized standards and practices. It would be shameful waste to allow cronyism and secrecy to thwart this opportunity to adopt a more effective, transparent approach to improvement. It is also an opportunity to create a vibrant service export that can earn foreign exchange.
The purpose of nation-building is to: “inculcate a feeling of belonging and with it, accountability and responsible behaviour.” (National Planning Commission, Republic of South Africa). At the time this statement was fashioned, Nelson Mandela held the reins of government. South Africa was returning from an abyss of deadly strife and everyone had apprehensions about the future.
While none would claim a perfect outcome, there is no denying that the declaration of intent made a positive impact on South Africa and the world. A key point of emphasis is Continue reading
As I write this article, Valentine’s Day is on the horizon. It signals a time to pause and reflect on the need to express love and think about those, who to us, deserve our love. It is an act of gratitude. Never mind the fact that it has become commercialized and there are some prescribed rituals, which if not displayed, can cause disappointment.
In Barbados, there is a pall cast upon this commemoration because of widespread concern about the effects of Continue reading
United States President, Barack Obama is well-known as an inspirational speaker and leader. His State of the Union message, delivered on January 28th, received global media coverage. The consensus is that this was another inspirational tour de force, not just for Americans but many others who have been undergoing hard times.
It doesn’t matter that there are differences about the policies, programmes and political agenda; at one point or another, your heart was stirred Continue reading
Last week, I was the guest speaker at a Power Breakfast event in Newark, New Jersey. This series attracts executives, business owners, legislators, educators and other professionals in the New York, New Jersey, Connecticut, Pennsylvania and Washington, D.C. areas. Continue reading
I have had some very interesting conversations with a diverse group of people regarding what is most needed to restore Barbados to its former economic and social dynamism. Interesting, because many telling points emerged despite the fact that the insights came from parties who were of diverse socio-economic and political perspectives.
I am very saddened by the continued politicization of Barbados’ Continue reading
As a child, I remember that I was frequently asked: “What do you want to be when you grow up”? I have asked that question to children and adults many times over the years. I suspect you would have had a similar experience. You would also have found that, over time, the answers that you gave to this question tended to change. Continue reading
Due diligence and risk management are business terms that have come into popular use. Due diligence is to exercise a certain standard of care before concluding a deal. That exercise should include an examination of factors that could have an adverse effect on desired outcomes. Typically, an effort is made to minimize risk.
Everywhere in the world people are planning and seeking a path toward an ideal future. Continue reading