SWI WORKSHOP - Going for Growth – Envisioning the Future

The Scotiabank Women Initiative curates workshops to suit needs identified and expressed among our SWI members and in the market. We hope that our efforts to present the planned topics to you will prove immersive and beneficial to your organisation and to your own self-development.

Entitled “Going for Growth – Envisioning the Future”, our speakers will present on:

•                Growth: models, opportunities, and the future for Jamaican businesses

•                Developing governance discipline for responsible growth

•                Is listing for every business? Going public as a growth strategy

•                Going public – Best practices for preparation

•                Insights: Fueling Growth  (case studies from business relationships)

As you go through today’s programme, please keep in mind the Vision 2030 aims to make Jamaica a place of choice for business and we certainly believe that by strengthening women in business, through exposure to tailored advice on topics such as these, can help equip them to contribute to the realisation of the national vision.

Our choice of location for today’s workshop is an indication of the direction that we encourage you to pursue and as the day unfolds. For this, we thank the Jamaica Stock Exchange for allowing us use of their facilities.

While preparing for today’s workshop, I recalled the popular book on change management – Who Moved My Cheese written by Spencer Jordan MD and published in 1998.

For those who may not be familiar, - the characters are two mice called Sniff and Scurry, while Hem and Haw are little people.

They live in a maze and search daily for cheese. But as they encounter changes in their cheese supply, each responds differently, with varying degrees of success.

Hem and Haw discover a vast source of cheese and settle into a life of comfort. Meanwhile, Sniff and Scurry constantly sniff the air, adapting to ever-changing cheese patterns.

Until…one day, the cheese disappeared. 

Hem and Haw respond negatively, clinging to the past, while Sniff and Scurry, however, quickly adjust and explore new sources of cheese. Eventually, Haw joins the mice, embracing the change.

Some of us may identify with these characters.

The words “Growth” and “Change” can  often be uncomfortable, and even somewhat scary.

This workshop will challenge those mindsets and help you to proactively think about your business, the changing global and local markets and the opportunities that lie within them. We want to help you plan for eventualities and as our theme this morning suggests – “go for Growth!”

One very topical matter in the business community is that of: “going public” and the advantages which can be gained from a public listing…including:

-         Source of capital for growth while strengthening company structure and reputation.

-         Liquidity to investors that improves the value proposition for their investment

-         Enhanced visibility

-         Increased employee morale

-         Transparency and efficiency in the overall operations of the company.

Going public increases visibility and improves public perception of the organisation, thereby increasing employee value and morale. It may also lead to hiring of new staff and may facilitate stock-based payments such as ESOPs etc.
Additionally, the current listing of public companies on the JSE is 49, with less than 10 companies being woman led – examples include Honey Bun, Image Plus Consultants, Limners and Bards and the Jamaica Stock Exchange.  This means that only 6% of the listed companies of the JSE are women-led.”

Today you will also learn more about how a business banking relationship with Scotiabank can aid those plans for growth – whether by going public or other means.

We do hope you will find value in the advice and solutions offered and look forward to continuing to serve you through the pillars of the Scotiabank Women Initiative.

In closing, I want to emphasize that the Scotiabank Women’s Initiative through initiatives such as this, evidences, our commitment to breaking down barriers and increasing economic and professional opportunities for women to be successful both now, and in the future.