“Two are better than one; because they have a good reward for their labour. For if they fall, the one will lift up his fellow: but woe to him that is alone when he falleth; for he hath not another to help him up.” – Ecclesiastes 4:9-10
National economic growth takes place when natural resources (land, minerals, blue economy); capital (seed, equity, working capital investment and appropriate loans); people (matching workforce supply with demand); and the fourth factor of production, entrepreneurs (startup and existing businesses), are successfully combined.
Macro, mini and micro enterprises are interconnected through an economic gearing system to link Caribbean brand and supply with global niche market demand thus providing a sustainable trading arrangement for job creation and wealth.
When the global market, sector by sector, induces a turn of the wheels of macro enterprises, the gearing system harmoniously stimulates several revolutions of the wheels of mini and micro enterprises in turn. This suite of entrepreneurs collectively drive the system, production becomes more competitive, and the economy grows.
Business networking (knowledge, relationships, opportunities) with other businesspeople at the national, regional, and international levels – through real or virtual environments – develop virtues such as unbiased judgment, compassion, ethics and benevolence.
It is shrewd to continually improve our intellectual strength moving along the discovery spectrum – data, information, knowledge, understanding, insight and wisdom. The establishment of mutually beneficial business relationships will enhance balance and synergies of interaction. Readiness to embrace new opportunities will redound to the growth of the business. Two minds are better than one.
The art of public relations is about the management of communications between a business and its internal and external stakeholders, including team members, customers, community and the media.
Networking is paramount in developing the communications package and allows us to identify and bundle local products and services consistent with market pull and logistics, and our ability to reengineer the supply chain.
Here are some networking events and the benefits that can be derived.
Team member residential retreats: Even though team members may meet regularly with the support of video conferencing facilities, nothing can replace the camaraderie, fellowship, and exchange of a face-to-face networking session or retreat.
Caribbean Media Exchange (CMEx) on Sustainable Tourism events: CMEx brings journalism and tourism stakeholders together so that appropriate, accurate messages are communicated to the public. CMEx also recognizes and celebrates the achievements and talent within the Caribbean tourism and hospitality industry.
Commonwealth Partnership for Technology Management (CPTM) International Dialogues: CPTM’s vision is that of a leading agent of change, a dynamic brainstorming network in harnessing technology for growth and wealth creation in Africa, Caribbean, Malaysia, Mediterranean beyond.
Rotary International: RI is a global service organization which organizes annual district conferences and international conventions to bring together business and professional leaders to provide humanitarian service and to advance goodwill and peace around the world.
Caribbean Travel Marketplace (CTM): The Caribbean Hotel and Tourism Association (CHTA) hosts an annual gathering of the Caribbean hospitality industry, including buyers, suppliers, media, journalists, travel agents, destinations, tour operators, and tourism bureaus. A virtual CTM version took place last week.
Client Activations: Tourism activations are conducted in several cities in the marketplace where a destination will dynamically pitch its attractions, music, food, beverage with an aim to attract visitors and grow the economy.
Let us now build our networking initiatives and soar to new heights!
(Dr. Basil Springer GCM is a Change-Engine Consultant. His email address is basilgf@marketplaceexcellence.com. His columns may be found at www.nothingbeatsbusiness.com.