The Economic Environment Jamaica Essay

Jamaica major sectors of the economic system were bauxite, aluminum, touristry, fabrication and agribusiness. Bauxite and alumina had set a gait for Jamaica ‘s economic growing through investing and foreign exchange net incomes. Bauxite production declined quickly in Jamaica in the 1980s because of the recession in the universe, aluminum industry, planetary over supply and the going of transnational manufacturers. Tourism declined in the1970s but recovered between 1980 and 1986, in which this has become the 2nd most of import sector of the economic system, fabricating nevertheless a successful investing was but had went through structural alterations in the eightiess. All focal point was on exports and non domestic market, Agriculture which is known to be the pulse of Jamaican economic system for centuries, had been decreased since World War II.

During the 1950s and 1960s the bauxite industry had been successful due to the increasing growing rates, even though the bauxite industry had gained success ; the economic growing had decreased in 1972 to 1986. Between 1973 and 1980, Jamaica had experience several old ages of negative growing, there was a economic ruin in the seventiess, when both labor and capital in Jamaica, where in skilled labor and investing capital had become a set back to the state. The state was unable to retain its high growing rates over a period of clip and still remains vulnerable to diminishing monetary values and the fluctuating nature in its economic system. Due to the fluctuation of the economic system it gave the state a lurid image, which covers, internal debt, rising prices, unemployment and low worker productiveness.

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In the 1980s authorities took duty for equilibrating the economic system and seek to maintain the economic system on path by advancing the development of export driven production cut downing the current history shortage, every bit good as extinguishing poorness and inequality. Even though the crisis is non one hundred per cent solved, the authorities of Jamaica is still seeking to acquire at a ( 100 % ), one hundred per cent rate by utilizing the state ‘s figure merchandising resources. Due to the state ‘s debt, it had cause major downswing for those who own private companies, loans have been set back at a minimal gait and great investings had been put in topographic point for instruction intent.

JAMAICA ‘S CURRENT ECONOMY, the state had made a monolithic turnaround from the debt crisis, the economic system recovered by its winning resources which are known to be, bauxite, aluminum oxide and touristry, the state still has non to the full recovered due to the resent recession and rising prices, which had suffocate a batch of concerns, because of its high rates and monetary values, concern where forced to diminish on their monetary values for their goods, GRACE KENNEDY for illustration had tried to suit in the crisis debt, by implementing ways on selling their merchandises at an low-cost monetary value but still gained success. The company had bead monetary values, create specials that are low-cost such as boxing a two for one special, which allows the company to derive success from that and still remains successful today.


The impact of engineering on a concern environment affects concern on many degrees. Technology has become frequent in our mundane society, it ‘s fast, convenient to everyone and yet dependable, many outstanding concerns that uses engineering has become successful through the usage of engineering, for e.g. Digicel Jamaica ‘s Bigger, Better web, has addition its success through the usage of engineering from a selling point of position, the concern nevertheless targets the consumers to buy technological devices, such as, black berries, tablets, cyberspace modems and lap tops, engineering has help the concern to derive immense success, therefore in other concerns they use engineering as their cardinal factor on going successful and doing a net income, such as teleselling, which means the manufacturers has to name the consumers to do a net income on selling their company and merchandises.

Technology has become a growing procedure in mundane life, where in, over the old ages engineering has been increased, few old ages ago, people had to utilize the library and type authors to acquire their work done but in the current old ages, where engineering has increased, the cyberspace has a library online, laptops and desk tops are now the replacings of type authors. Technology has become so rampant that consumers look frontward for be fascinated by it. Technology is more efficient to concern or administrations ; this aids employees to work faster and besides convenient in their mundane work.

Because engineering had become so advanced, in some concerns employees can work from any location, doing the company to salvage money, meetings can be done through picture conferencing, where in it may do the concern less to those who uses conference Centres, doing less disbursal on air menus and hotel reserve.

Even though engineering is a good thing it can besides hold a negative consequence on doing concerns or administrations to lose out on clients, because engineering has become so advanced in the twenty-first century, people can now entree a broad assortment of concerns on line, such as, on-line pharmaceutics, online travel bureaus, hair merchandises, phone mercantile establishments, even shopping Centres, right place, due to this, concerns may non be every bit profitable as it supposed to be.


The societal environments relates to the concern environment in a negative manner, which, Jamaica as one of the highest offense rates. Due to high rate of force within the societal environment of Jamaica the concern environments suffer the effects, it prevent the happening of the investings clime, and besides growing, because of its negative impact, the concern leads to loses, arises from larceny, extortion and fraud, it jeopardise the development of human capital every bit good as societal capital seting a strain on the possible growing within the economic system.

The offense in Jamaica besides leads to encephalon drain, doing qualified workers to migrate because of the fright they have sing to the force and offense within the state. Which besides cause the concern environment to ‘go slow ” because the deficiency of professionals within a concern administration.


Jamaica ‘s political background is of a more competitory two party system in the island. The people ‘s national party and the Jamaica labor party are the dominant political forces while on the other, national democratic motion is non a important rival.

Within the period ( 1970 ‘s to early 1990 ‘s ) the island Jamaica had experienced the development of political base fort communities had been involved in violent elections in its history during the 70s and 80s politician bought the trueness of people with thin benefits and net incomes, such as apparels, nutrient, money and guns, were given to the community and community leaders in the exchange of ballots, giving them the authorization to make whatever they like. However because of the authorization they have received over the people, leaders nevertheless has the right to extort, concern proprietors, bear downing them a huge sum of money for the concern protection or for the concern to be in the country, charges such as, $ 1 000,000 or $ 95,000 Jamaican dollar, this as a major impact on the concern because this is now a menace to the concern environment, what would the concern net income after the money is being paid for extortion.

Another challenge is if a concern or administration is known to hold merely ( JLP ) Jamaica Labour Party members and the concern country is located in a ( PNP ) Peoples National Party country, this may do challenger between both parties and may do the concern to be either, near down due to the struggles and non being successful because the ( JLP ) members is non all right with their nowadayss in their environment.

Therefore it is stated that the challenger between the two parties are created by the politician, doing difficult for concern to be successful within the concern environment, the challenger between the two national party has break unfastened even bigger and stronger than earlier, which is doing the down autumn of the state ‘s economic system to hold a down autumn.


The authorities plays a critical portion in the legal environment of a concern, hence there are many ways that the authorities can command the concern activities in both ways such as direct and indirect, nevertheless the authorities as more control in a more direct manner. Direct is when authorities controls what to bring forth for the society, authorities may non allow certain points or set limitation of production and certain goods and service, e.g. guns are prohibited and besides drugs that may be harmful, it is known to be illegal. This is known to be protecting the people within the state.

Employees protection statute law, the authorities implements regulations and ordinances to protect the involvement of employees such as Torahs against favoritism at work and when using for the occupation, besides statute law for wellness and safety at work, this was implemented to protect the workers from unsafe machines and equipment, where workers should be in proper safety environments and supply proper and safety equipment ‘s and vesture if necessary, besides protecting employees against unjust dismissal, which is firing a individual without a ground or for take parting in a trade brotherhood, on disregarding a individual there must be a valid ground, if non it will be treated as unjust dismissal.

However on registering a concern, legal action as to be taken topographic point such as registering the concern with a company, which is known to be licencing the concern to be whether private or public sector administration, this is nevertheless is used to place a concern, giving it, its ain individuality, hence this Idaho that is used is to register the administration so that the authorities will be able to roll up revenue enhancement, nevertheless a concern can non decline to pay revenue enhancement, this will take up to legal actions, which may do the concern to shut or sell out, if it ‘s a private administration.



THERE IS A Sparkle


GLITTER LIMITED is a private company that provides the jocks with athleticss gear such as, swim wear, path and field gear to sack ball athletic wear, the company ensures that the jocks athleticss gear fit every bit comfy as possible, for the jocks to experience more relax and free, in all R featuring event, therefore our slogan is, with every decoration there is a twinkle, our logo is five stars stand foring the colors of Jamaica, it ‘s our manner of branding our administration and allowing the universe know we are responsible for our jocks.

The company nevertheless had first launch there athleticss cogwheel at the Beijing Olympics, where it had received assorted remarks and regards, nevertheless the launching as a success.


THE Glitter Limited company purposes are to widen the company ‘s stigmatization, which is to market the merchandise more, present more designs to jocks, provide each of our client with unbelievable services, besides the company would wish to acquire the jocks involve with the advertizements of the administration. The company is besides spread outing on its locations, some jocks train international, the company nevertheless is puting up a base for the glister limited administration internationally.

Hard work is traveling to be at manus, over clip will be put in topographic point to finalize the locations before the following Olympics and net ball lucifers. However, major hazard will be taking to carry through the purposes and ends of the company.


To increase the figure of jocks available for the sale of our merchandises, by presenting five ( 5 ) more designs for jocks who participate in the Olympics. Glitter cooperation ‘s will present our merchandise to the jocks by presenting our really ain trade show, where jocks may see our athletic wear and gravitate to what we have to offer. This will besides increase the handiness of jocks.

Because athletic wear has become more voguish in the athleticss industry and more in manner with jocks, gross revenues as increased, gross revenues of males and females sportswear rose by 5.2 % within 12 months at the stoping of September 2012, contrasted within the period, to $ 4,6 million.

Within the twelvemonth we were managed have managed to reach our old clients and while deriving more resources and clients,

The company has to collaborate with the tracking associations to acquire in contact with other jocks for the launching of the trade show and the launching of our new athletic wear

The launching of the trade show and presenting our freshly as a deadline, which is known to be before the ( IAAF ) this is the International Association Federations, which begins on august the 10, 2013.


1 Accelerate merchandise launches

2 Raise extra capital

3 Seek new market cleavage for merchandises

4 Extend the company

5 strengthen web presence and publicity

6 Implement a system to maintain with the tendency

7 create a good communicating for workers to pass on.

8 Undertaking rivals with full force

9 A positive environment for the debut and selling of the merchandise.

10 Guaranting that the monetary values can be fluctuated

11 Develop a system where in our clients are satisfied.


1 Product launching- establishing the athleticss wears the company will be utilizing the cyberspace.

2 Raising capital- by offering a new design along with a comfy feeling, that fits the organic structure absolutely giving it a comfy feeling, jocks will gravitate to it, where in net incomes will be gained.

3 Seek different marketing segmentations-Developing different methods to publicize the merchandise, such as the 4 PS.

4 Extend the company- locate the company both internationally and locally.

5 Keep up with the manner trends- combine a group of persons together doing them a squad, their undertaking will be to maintain up to day of the month to the tendencies of athleticss wears and do a study on what ‘s ballyhoo and what ‘s non.

6 Strengthen the web base and promotion- To beef up the web base, the technicians and graphical interior decorators, good make a web base that will gravitate the spectator ‘s eyes, by utilizing in writing designs and bright colorss.

7 Maintain good communicating within the work environment – workers or squad members will be given a manus set, which is known as a phone to maintain each other posted.

8 Undertaking competitors- to maintain rivals at a distant, the company has created a merchandise that is unbeatable, strike harding down all competition.

9 Making a positive environment- this will be done by organizing the work countries, doing it look professional, so that when clients enter the concern the feeling is known to be professional base.

10 Fluctuate prices- this can be none doing the monetary values be able to alter, whether to high or moo, which means, a steady pric will non be set on the merchandises.

11 Satisfying customers- this is done by doing certain that their demands and wants are controlled, hence at the terminal of every dealing a client would be given an rating sheet on the service offered.


A meeting that entails the following project- 03/08/2009

Presentations of ideas- 24/08/2009

A meeting with the Manager and C.E.O discoursing the presentations- 14/09/2009

A meeting with the workers to finalize the thought that was agreed on – 05/09/2009

A treatment on how to get down the process-19/09/2009

And interview with the Scotia bank of Jamaica for a loan to get down the process- 02/10/2009

A meeting was called to name each person to their responsibilities and responsibilities- 23/10/2009

The first sample of the cogwheel was presented-11/01/2010


The director – Ms Sashannie jagho is responsible to organize and build the squad members of the administration, guaranting that everything is in the right order every bit good as giving waies and apointing them to there responsibilities hence the director is besides responsible for actuating workers within the concern enviroment, doing certain that workers cooperate with each other, besides supplying feedbacks and taking barriers that may disrupt the companies end or accomplishment.

Chief Executive officer ( C.E.O ) -Mr Dwayne Brooks is responsible for making schemes that channel out the concern aim and do it easier to be achieved, the main executive officer had made the determination on the kind of stuff and colors used, he is responsible for all the cooperate determinations, but has to be confirmed by the director. Hence his duty is to do certain that the company ‘s operations and resources flow swimmingly every bit good as the cardinal point in communicating,

Supervisor- Ms Shanice Richards is responsible for the employees working within the administration, the employee ‘s policies and process every bit good as to develop employees where it is necessary, the supervisor plays the function of the human resource director, but as no authorization to neither hire nor fire a individual.

The Accountant – Mr Damian Cain is responsible for the money that the concerns earns and put by oversing the input and handling of fiscal informations and studies for the company ‘s fiscal system. Interacting with internal and external hearers in finishing audits, besides to fix and reexamine budget, gross disbursal, pay axial rotation entries, bills and other accounting paperss every bit good as to analyze and reexamine budget and outgo for local, federal and private support contract,

Selling and Gross saless Manager-Ms Sashannie Jagho duty within the selling and gross revenues section is to analyze, program and implement selling and gross revenues activities, besides to implement schemes on how to develop one-year selling program, directing division selling activities and developing an one-year gross revenues and publicity plan every bit good as to market profitableness and gross revenues study, buying, resale and pricing of the merchandise.



Graphic interior decorators

Making web pages for the company

interior decorators

Designs the manner of every athletic wear


Fix jobs within proficient troubles


Take proceedingss of every meeting for future use, channel calls, organise paperss

Team a

A group of persons that keeps up to day of the month with the tendencies

Team B

A group of persons that promote the administration and its merchandise


Glitter limited utilizations questionnaires to measure the workers active response, questionnaires are used every one time a month to measure the workers respond of the concern, questionnaires nevertheless is the simplest signifier of rating when there is excessively much at manus for a concern meeting.

It expresses the head of employees towards the concern, it creates a manner to pass on with the employees, to analyze the methods used within the administration, if they are effectual, nevertheless the questionnaires non merely measure the workers responds but besides to organize and discourse the aims of the concern.


1 How can the concern better for the hereafter?

2 how would you sort the company ‘s success?

3 Do you believe the embassadors for the company is making a good occupation?

4 Which of the undermentioned best describes the grade to which employees were in doing determinations?

-no engagement

-little engagement

moderate engagement

Extensive engagement

5 what are some of the challenges face when working in a squad?

6 What is the concern lacking?

7 How would you sort the director ‘s attitudes?





8 What are the basic elements needed in the administration?

9 Are the policies and processs adequate for employees?

10 Is the administration finishing its mission?

11 What are the possibilities that the administration may be one of Jamaica ‘s top athletic wear industries?

12 Is the selling schemes effectual?

13 Is the C.E.O making his occupation?

14 How is the supervisor ‘s attitude ranked?





15 What is the major precedence of this administration?

Selling Aim

To understand the latest penchants of clients in the identified sections and the appropriate mark.

The current market portion is 30 %, a good set mark of 40 % market portion, which means that administration needs an excess 10 %, market portion sums can be proven based on how good the overall value of gross revenues is and the proper development and execution of techniques used.

Choosing a assortment of experient and knowing selling squad that are known to be professionals to efficient gross revenues staff, entree to support will accomplish more stock to carry through high demands. The selling resources nevertheless are in topographic point to command the segmenting and mark exercising and. The addition in market portion is to accomplish within 7 months. Regular check-up will be taken to maintain path of the degree of success.

Selling Scheme

1 Becoming a low cost manufacturer

2 Becoming the category leader in the industry

3 Higher market incursions

4 Find new markets

5 market stableness

6 Cost control

7 Market issue

8 Market growing


1 Encourage the current user to utilize more often

2 engaged new user who have ne’er used the trade name

3 Define the mark audience

4 Increase the per centum of consumers who associate with our trade name

5 Effect of advertisement on consumers motion from consciousness to consumers.

6 Making certain that the advertizement is effectual to users

7 Stimulating wants and desires

8 Projecting an image

9 making consciousness

10 Target our best chances

11 Communicating a new trade name placement

Communication STRATEGIES

1 delivers clear and consistent messages to all parts of the administration.

2 direct a simple and fast minimum translator

3 Inspire and excite

4 Use user friendly, which is human and personal

5 Strong communicating accomplishments

6 A powerful context and concentrate

7 Well design betterment program

8 build societal media activities


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