REPORT OF THE MSBM ROUNDTABLE | JUNE 21, 2018| MONA VISITORS’ LODGE
STRATEGIC DIGITAL LEADERSHIP 1
STRATEGIC DIGITAL LEADERSHIP
We are currently evolving through the fourth industrial revolution and there is an even
greater need for leaders to be more digital ready, and be prepared to challenge not only
those whom they are leading, but themselves. We must be able to keep our people
connected and engaged, ensure that they are driven to learn and continuously improve, and
be assured that their ideas are valued, and more importantly, they must see the value of
collaboration as the key to success. As the drivers of our industries, it is important that our
businesses remain on the cutting edge and that we can articulate the value of digital
technology to the future of our organization. Our businesses should also embrace analytics
and the use of data in decision making and management processes, and we should not only
welcome technology but target new innovations to transform the culture of how our
businesses work.
At the UWI, our vision is captured in the language and concepts of the current Triple ‘A”
Strategic Plan, so named because it is designed upon three pillars: [1]Access to more
affordable education; [2]Alignment of academia and industry; and [3]Agility in all operations.
As we prepare the next generation of leaders, it is our responsibility to position them so that
they can be the drivers of transformation, capable of accessing new and creative measures
and flexible enough to adapt to any situation. Let us work together in the best interest of our
region as we strive to position our people to be the creative geniuses of the future.
Professor Sir Hilary Beckles
Vice-Chancellor
The University of the West Indies
REPORT OF THE MSBM ROUNDTABLE | JUNE 21, 2018| MONA VISITORS’ LODGE
MONA SCHOOL OF BUSINESS & MANAGEMENT IN COLLABORATION WITH JAMAICA STOCK EXCHANGE 2
IN COLLABORATION WITH JAMAICA STOCK EXCHANGE
ON
STRATEGIC DIGITAL LEADERSHIP
June 21, 2018
Mona Visitors’ Lodge and Conference Centre The University of The West Indies, Mona
THANKS TO OUR SPONSORS
REPORT OF THE NINTH ANNUAL MSBM ROUNDTABLE
REPORT OF THE MSBM ROUNDTABLE | JUNE 21, 2018| MONA VISITORS’ LODGE
STRATEGIC DIGITAL LEADERSHIP 3
PROGRAMME MSBM ROUNDTABLE Thursday, June 21, 2018 | 7:00 a.m. - 10:30 a.m. Mona Visitors’ lodge & Conference Centre
REPORT OF THE MSBM ROUNDTABLE | JUNE 21, 2018| MONA VISITORS’ LODGE
STRATEGIC DIGITAL LEADERSHIP 5
EXECUTIVE SUMMARY
Mona School of Business and Management, UWI (MSBM) partnered with Jamaica Stock Exchange on
Thursday, June 21 to host the ninth annual MSBM Roundtable CEO Breakfast forum at the Mona
Visitors’ Lodge and Conference Centre at the University of the West Indies, Mona Campus.
Recognized as one of the most important calendar events in the business community, the annual
MSBM Roundtable aims to explore the latest trends and most advanced research, strategies and tools
to help business leaders and policy makers in the Caribbean meet emerging business challenges and
opportunities in a rapidly changing global economy. As the premier regional business school, Mona
School of Business & Management facilitates innovative engagements with public and private sector
entities seeking to re-engineer their operations to improve growth, profits and competitiveness. MSBM
has taken the leading role in regional and global business research that creates a platform for
interacting with influential government and private sector stakeholders as well as regulators and global
organizations in key debates affecting Caribbean companies and economies.
The 2018 MSBM Roundtable on “Strategic Digital Leadership” explored with key decision makers the
pivotal role of digital transformation and leadership and offered insights on leveraging digital
technologies for business and economic growth. The invitation-only forum, chaired by Dr. David
McBean, Executive Director of the Mona School of Business brought together 120 CEOs, CIOs, business
and industry leaders, entrepreneurs, consultants, technology professionals, policy makers, government
administrators and academia.
The presentations highlighted local and global trends in disruptive technologies given the impact of the
growing influence of the fourth industrial revolution for government and the private sector; the
dynamics of digital leadership and the shifting landscape for employment, education, finance and
investment; the importance of digital education; the evolution of digital communication; and
opportunities for growth.
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MONA SCHOOL OF BUSINESS & MANAGEMENT IN COLLABORATION WITH JAMAICA STOCK EXCHANGE 6
Dr. William Lawrence, Director, Professional Services Unit, Mona School of Business & Management
and the Roundtable Convenor provided an overview of the MSBM Roundtable and the objectives of
this year’s focus on strategic digital leadership.
Dr. David McBean welcomed participants and reaffirmed Mona School of Business & Management’s
commitment to utilise applied research to provide solutions to the problems facing businesses in
Jamaica and the wider Caribbean.
The MSBM Research on “Strategic Digital Leadership: Attitudes and Imperatives presented by Dr
Maurice McNaughton (MSBM) and Professor Evan Duggan (University of Alabama) for Jamaican
Businesses“ was conducted with 60 business executives in multiple local sectors over the past 12
months to understand the organisations’ challenges, opportunities, perceptions and attitudes to going
digital.
In delivering the keynote address the Most Honourable Andrew Holiness, Prime Minister of Jamaica
spoke about Government’s commitment to embracing new technologies and strategically ensure that
Jamaica has a better place in the future; and the steps that the Government of Jamaica is taking to
transform the Jamaican economy into a digital economy. This includes creating the environment to
enable every Jamaican citizen to participate in the digital world - legislation to create a national
identification system; digitizing and protection of existing health and education records among others.
The Roundtable also featured internationally accredited speaker, Larry Quinlan, Global Chief
Information Officer of Deloitte, who has proven expertise in the crucial area of digitalization including
technology strategy, business model innovation, and leadership best practices. Deloitte is one of the
world's largest professional services organisations. Mr. Quinlan shared insights gleaned from his
interaction with Deloitte's clients globally in government and the private sector, as well as, Deloitte's
digital perspective, key challenges and opportunities in the digital landscape, and actionable ways for
business leaders in the Caribbean to continue to evolve their technological profile. Additionally, he
discussed how critical investments in cyber security and infrastructure, as well as a strong vision and
inspired leadership, can help an organization digitize for the future.
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STRATEGIC DIGITAL LEADERSHIP 7
In his presentation Mr. Peter Bunting, Spokesperson on Industry, Investment and Competitiveness
(representing Peter Philips, Leader of the Opposition) focused on the imperative to grow the Jamaican
economy. Mr. Bunting argued that many of the processes that are being currently used in the public
sector, date back to colonial times and suggests that there are huge opportunities in health care
security and agriculture among others that would create enormous cost savings and efficiencies. He
noted that there are 1.1 M active social media users among Jamaicans and this should be leveraged to
create opportunities for growth and profit.
Mrs. Marlene Street Forrest, Managing Director, Jamaica Stock Exchange (JSE) addressed the
imperative for listed companies and those looking to list on the Stock Exchange to make a concerted
effort to embrace digital technology in order to create sustainable value creation. Mrs. Street Forrest
also discussed how the next wave in the fintech revolution was impacting exchanges globally, with the
technology not only facilitating trades but, in some cases, making the trading decisions - moving the
process from electronic trading to electronic investing. Bloomberg has placed the Jamaican stock
market as “the world’s biggest over the last five years”.1
Professor Sir Hilary Beckles, UWI Vice-Chancellor emphasized how the University of the West Indies is
contributing to the economic transformation of the Caribbean through partnerships between
governments, private sectors and academic institutions. By partnering with academic institutions in
Africa, China and the United States and establishing a UWI foothold on every continent, the UWI is
preparing the youth for the digital revolution with the expectation that in the next five years a new
generation of entrepreneurs will emerge from the Caribbean as students become specialists in
software engineering, software technology and mobile applications. Coupled with this is the call for
Caribbean governments and the private sector to take advantage of its diverse research output; and to
invest in the creation of digital innovation technology parks on each campus in the Caribbean.
1 Bloomberg.com Jamaica's World-Beating 233% Stock Rally Continues Full Steam, October 3, 2018