Jamaica’s Private Sector: A Strategy For Sustainable Hypercompetition Development

In order for Jamaica to transition from a developed to developing country there needs to be developed in Jamaica a strong knowledge based economy. The literature speaks to four preconditions that lead to knowledge becoming an effective engine of growth. These are: · An economic and institutional regime to provide incentives for the efficient use of existing and new knowledge and the flourishing of entrepreneurship. · An educated and skilled population to create, share, and use knowledge well. · A dynamic information infrastructure to facilitate the effective communication, dissemination, and processing of information. · An efficient innovation system of firms, research centers, universities, consultants, and other organizations to tap into the growing stock of global knowledge, assimilates and adapt it to local needs, and create new technology. Through Government policy and actions this infrastructure will be facilitated. The Jamaican Private Sector however will have to be the engine of growth, to enable the transition in creating sustainable economic development and the final transition for Jamaica to developed country status. This document is divided in to three (3) sections as follows: · Section I: The Global Village Scenario; · Section II: Jamaica’s Private Sector Preparation For Hypercompetition Thinking; · Section III: The Jamaica Hypercompetition Strategy The document services as a guide to the process for the Jamaican Private Sector. Hence, the title Jamaica’s Private Sector: A Strategy For Sustainable Hypercompetition Development. It is important that this document be read sequentially, failure to do so could result in challenges that are not desirable, especially from a business point of view.