Transformative Research Visionary, Critical for Local Let Alone Global Corporate Success – Joe Issa

As academic research continues to provide the foundation for radical changes in organizations worldwide, founder of the dynamic Cool Group of over 50 companies Joe Issa, himself an academic with several firsts, is backing a UWI corporate transformation study to do the same for their counterparts in Jamaican.

Joey Issa

Stating in an interview, that the National Commercial Bank (NCB)-sponsored applied research is visionary, Issa suggests that the findings could be critical in transforming businesses that respond inappropriately to the challenges of small island states.

“It’s an interesting initiative and I hail NCB for coming up with the idea, which years from now could be viewed as one of the most significant developments to have taken place in Jamaica’s business landscape.

“I also commend Mr. Lee-Chin (head of NCB, Michael Lee-Chin) for his philanthropic gesture of not keeping the results to himself, but instead sharing them for the benefit of local and regional organizations, which face the same challenges of small market size and low economic growth.

“The extent to which business models take account of the business environment, its demands and processes, will determine the success level of organisations,” says Issa, whose Cool Group model has been likened to that of the UK-based Virgin Group headed by his colleague Sir Richard Branson.

Issa’s comments are said to be backed by his experience in developing the business model for the Cool Group, which has enjoyed immense success in the local market and is being leveraged internationally, with a view to becoming a global company.

The transformation research programme, which is said to be the first of its kind in the Caribbean and will benefit NCB, UWI and other organisations in the region, was initiated by NCB after observing that many companies in the Caribbean needed to radically change their behavior, in order to survive locally, let alone globally.

With a paucity of academic studies to cope with challenges such as small market sizes and low economic growth, it is believed that the research in business transformation could provide the foundation.

The research project is being undertaken in two phases with the first phase researching business models and business intelligence for corporate transformation, to provide the foundation for the second phase.

Phase 2 is said to involve the establishment of a Professional Chair at UWI to advance knowledge in corporate transformation, and the results will be published in a book and scholarly academic papers. The Chair will also develop curricula and cases for educational purposes, the Jamaica Observer reported.