| |
Contact:
Claudia Monlouis
Tuesday, August 03, 2004 - The current wave in business and national
development has been summed up in the word: “Transformation”. So says Professor
of Business and Director of Labour Studies, UWI School of Business, Professor
Neville Ying.
Professor Ying was at the time addressing a gathering of Chief Executive
Officers attending a roundtable session hosted by the International Labour
Organization and the St. Lucia Employers Federation.
Speaking in the context of radical changes confronting the workforce of the
region, Professor Ying said there must be a unification of working, intellectual
and social capital, as this unification will give the region a competitive
advantage.
“Transformation and development means strategic and fundamental change to the
capacity, structure, mode of operation of a company to achieve profitability and
economic competitiveness. So here we are not talking about incremental change;
we are talking about radical change of the business. Transformation and
development means radical change in ownership and governance. It means radical
change in the nature of the core business. It means radical change in how we
seek to satisfy our customers and stakeholders,” he said.
Professor Ying pointed to several big companies in the region, which have
undergone substantial transformation, including changes in ownership. This he
said was all part and parcel of responding to the current business environment.
|
