Strategic Repositioning of the Caribbean Management Consulting (MC) Industry: An Overview <ul><li>Caribbean Export (CE)- (...
Caribbean Export Development Agency:  Key result areas and goals Regional Growth <ul><li>Through initiatives such as ... <...
CARICOM member states have consistently agreed the need for ... Enhancing regional competitiveness <ul><li>Attract direct ...
Opportunities for Caribbean Management Consultants ... Global competitiveness <ul><li>Currently regional consultants only ...
CICMC - Strategic Drivers and Objectives <ul><li>Continuing Professional development </li></ul><ul><li>Training, accredita...
The case for Management Consulting as a regional priority sector for development ... <ul><li>Identified as a high export p...
Proposed Development Programme for Caribbean Management Consulting Industry <ul><li>Database of regional consultants </li>...
How Will it Work ? Both programmes operate simultaneously <ul><li>Caribbean Export (CE) will administer and oversee implem...
Proposed Technical Assistance Programme –  Management Consulting as an input <ul><li>Transformation of Caribbean businesse...
How Will it Work ? Both programmes operate simultaneously <ul><li>Caribbean Export will ... </li></ul><ul><li>Assign consu...
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Strategic Repositioning of the Caribbean Management ...

  1. 1. Strategic Repositioning of the Caribbean Management Consulting (MC) Industry: An Overview <ul><li>Caribbean Export (CE)- (Foundation Partner) </li></ul><ul><li>CICMC </li></ul><ul><li>ICMCI (Int’l Council of Mgmt Consulting Institutes) </li></ul><ul><li>Other Caribbean Regional Bodies </li></ul>The Partners <ul><li>MC as regional priority sector for development </li></ul><ul><li>Global competitiveness </li></ul><ul><li>Export potential </li></ul>The Context <ul><li>Development Programme for Caribbean MC Industry </li></ul><ul><li>Technical Assistance Programme – MC as an input </li></ul>The Programmes <ul><li>● Both programmes simultaneously </li></ul><ul><li>CE to administer & oversee </li></ul><ul><li>Constant monitoring & evaluation </li></ul>How they will work
  2. 2. Caribbean Export Development Agency: Key result areas and goals Regional Growth <ul><li>Through initiatives such as ... </li></ul><ul><li>Regional integration </li></ul><ul><li>Cooperation </li></ul><ul><li>Advocacy </li></ul><ul><li>Through ... </li></ul><ul><li>Management and product development </li></ul><ul><li>Market expansion </li></ul><ul><li>Export diversification </li></ul><ul><li>Technical assistance </li></ul><ul><li>Direct assistance (grants) </li></ul><ul><li>Through ... </li></ul><ul><li>Enhancing capacity of public and private sector BSOs (trade promotion organisations & investment promotion agencies) </li></ul><ul><li>As well as supporting the development of vibrant business networks </li></ul><ul><li>Through ... </li></ul><ul><li>Promoting the Caribbean as a prime destination for intra and extra regional investment. </li></ul>Fostering an enabling environment for trade and investment  Enhancing competitiveness of firms  Strengthening institutional capacity and Networking  Promoting investment 
  3. 3. CARICOM member states have consistently agreed the need for ... Enhancing regional competitiveness <ul><li>Attract direct foreign investment </li></ul><ul><li>Increase foreign trade in services – particularly high-end services </li></ul>Economic Diversification  <ul><li>As a means of sustainable economic growth </li></ul>Fostering Regional Integration  <ul><li>To advance regional goals and objectives </li></ul>Use of trade agreements  <ul><li>In all export sectors </li></ul>Capacity to meet global standards 
  4. 4. Opportunities for Caribbean Management Consultants ... Global competitiveness <ul><li>Currently regional consultants only have 7% of regional market </li></ul><ul><li>Global market worth US $500 billion </li></ul><ul><li>Regional consultants paid less than international consultants </li></ul><ul><li>“ Exchange recovery” savings </li></ul><ul><li>Access to both regional as well as international markets </li></ul><ul><li>ICMCI institute network </li></ul><ul><li>Global scarcity of qualified consultants </li></ul><ul><li>Assess efficacy of traditional approaches to procuring MC services </li></ul><ul><li>To be competitive in a global environment requires extensive collaboration </li></ul><ul><li>Many IFI Caribbean projects specify “firms” re eligibility to compete </li></ul><ul><li>Need to come together as competitive accredited group(s) </li></ul><ul><li>● Through Membership in ICMCI, the global body defining and regulating MC excellence in > 43 countries </li></ul><ul><li>Through adoption of CMC designation and ICMCI code of ethics </li></ul>Increase Market Share  Increase Market Access  Regional Collaboration  Attain International Standards 
  5. 5. CICMC - Strategic Drivers and Objectives <ul><li>Continuing Professional development </li></ul><ul><li>Training, accreditation & certification </li></ul>Training, Accreditation & Certification  <ul><li>On-going analysis of issues & opportunities re needs of: </li></ul><ul><li>Profession </li></ul><ul><li>Members </li></ul><ul><li>Clients (Institutions, </li></ul><ul><li>Agencies, Governments </li></ul><ul><li>and firms) </li></ul>Public Education & Advocacy  <ul><li>Strengthen HR capabilities </li></ul><ul><li>Improve operational processes </li></ul><ul><li>Enhance organisational structure </li></ul>Organisational Structures & Processes  <ul><li>Develop chapters to ensure membership services and benefits are accessible </li></ul>Regional Chapter Development 
  6. 6. The case for Management Consulting as a regional priority sector for development ... <ul><li>Identified as a high export potential sector (Others include professional services, creative industries, ICT, health & wellness) </li></ul><ul><li>Identified need for concerted sector enhancement programme </li></ul><ul><li>CARIFORUM Ministers decided to ... </li></ul><ul><li>Ensure region able to satisfy requirements of current tender dossiers </li></ul><ul><li>Develop and maintain database of Caribbean service providers </li></ul><ul><li>Other sectors striving to improve competitiveness have difficulty gaining traction </li></ul><ul><li>Consultants can provide access to global best practice, informed guidance and continuing presence </li></ul><ul><li>EPA provides commitment re development funding for capacity building & competitiveness enhancement </li></ul><ul><li>A significant % of development funds spent on management consultancy services </li></ul>Caribbean Export/ COMSEC Study  Recognition of opportunities & weaknesses  Critical input to other service export sectors  Maximize benefits of EPA 
  7. 7. Proposed Development Programme for Caribbean Management Consulting Industry <ul><li>Database of regional consultants </li></ul><ul><li>Enrolment in CICMC </li></ul><ul><li>Comprehensive web portal & e-services </li></ul><ul><li>Mentoring programmes </li></ul>Membership Development  <ul><li>Continuing Professional development </li></ul><ul><li>Training, accreditation & certification </li></ul><ul><li>Certification Renewal </li></ul><ul><li>Mentoring Programmes </li></ul>Accreditation & Certification  <ul><li>Regulatory framework </li></ul><ul><li>Advocacy & public education </li></ul><ul><li>Membership support services </li></ul><ul><li>Management of strategic relationships </li></ul><ul><li>Marketing & communications </li></ul><ul><li>Business symposia & networking fora </li></ul>Administrative& Governance  <ul><li>Market development </li></ul><ul><li>Vehicle for regional integration </li></ul><ul><li>Are You Certified? promotional campaigns </li></ul><ul><li>Annual CMC conference </li></ul>Chapter Development 
  8. 8. How Will it Work ? Both programmes operate simultaneously <ul><li>Caribbean Export (CE) will administer and oversee implementation in conjunction with CICMC </li></ul><ul><li>CE and international management consulting body (ICMCI) will monitor and evaluate </li></ul><ul><li>Focus on ... </li></ul><ul><li>Membership Development </li></ul><ul><li>Accreditation & Certification </li></ul><ul><li>Chapter Development </li></ul><ul><li>Administration & Governance </li></ul><ul><li>Total value approximately $US1.5 million over 4 years </li></ul><ul><li>Progressive </li></ul><ul><li>Each phase evaluated </li></ul><ul><li>Collaboration with other regional bodies incl CARICOM, CROSQ, CDE & tertiary institutions </li></ul><ul><li>Collaboration with other professional accreditation bodies </li></ul>Managed by Caribbean Export in partnership with CICMC  Focus on Management Consultant Industry  Financial Implications  Delivered in phases over 4 years 
  9. 9. Proposed Technical Assistance Programme – Management Consulting as an input <ul><li>Transformation of Caribbean businesses and BSOs </li></ul><ul><li>Improved management capability </li></ul><ul><li>Better ROI for entities using management consulting </li></ul><ul><li>Support for establishment of National/Regional Representative </li></ul><ul><li>Support for research and analysis on needs </li></ul><ul><li>Support for current methodologies, processes and practices utilised in “ best practice” organisations </li></ul><ul><li>Accelerate conversion of export potential to foreign exchange reality </li></ul><ul><li>Mitigate effects of new trade arrangements and global economic crisis </li></ul>Increase operational efficiency  Enhance Level of Organisation of Key Sectors  Attain international best practice  Empower organisations to manage change/new opportunities 
  10. 10. How Will it Work ? Both programmes operate simultaneously <ul><li>Caribbean Export will ... </li></ul><ul><li>Assign consultants based on client need and consultant expertise </li></ul><ul><li>Manage all contracts </li></ul><ul><li>Monitor and evaluate </li></ul><ul><li>Provide strategic support throughout the process. </li></ul><ul><li>Priority given to BSOs and firms in following sectors </li></ul><ul><li>Music & Audiovisual </li></ul><ul><li>Fashion/Design </li></ul><ul><li>ICT </li></ul><ul><li>Health & Wellness </li></ul><ul><li>Other TBD </li></ul><ul><li>Total value approximately $US3.0 million over 4 years </li></ul><ul><li>● All potential candidates subject to diagnostic analysis & evaluation </li></ul><ul><li>Each beneficiary assigned a consultant </li></ul><ul><li>Based on principle of partnership between beneficiary and consultant </li></ul>Managed by Caribbean Export  Focus on Priority sectors  Financial Implications  Delivered on competitive basis 

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