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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.



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