Council of Presidents lack Strategic Thinking

There was great publicity recently over the “historic” meeting of the 21 Council of (Industry Association) Presidents to discuss the solutions to the global economic and financial crisis facing us. According to the newspaper reports the meeting highlighted several solutions, however there were no details on what the solutions were.


Speaking on the HOT 102 Breakfast Club programme this morning, March 10, 2009, Financial Analyst Ralston Hyman said when he spoke to the PSOJ President he was told that the main topics were Currency Board vs. Dollarization. Mr. Hyman concluded that the meeting of the Council of Presidents was a grand waste of time. He contended that the value of a country’s currency is a reflection of the strength of the economy; therefore however we decide to manage the currency (dollarization, Currency Board, Central Bank); the fact is we need to significantly increase economic performance and this is where the Council of Presidents should focus their attention. This reminded me of the debates during the Partnership for Progress a few years ago where there was no Vision, no strategy and no structure and it is déjà vu all over. My conclusion, if Mr. Hyman is correct, is that the Council of Presidents lack Strategic thinking.


If the Council of Presidents really wants to make a difference I recommend they contract Growth Facilitators to facilitate them through a strategic thinking process, which will not simply result in a cacophony of ideas, but rather a coherent, vision-driven strategy to navigate Jamaica through the difficult times.