The Productivity Research Institute for Development and Entrepreneurship (PRIDE) is precisely the type of response Government welcomes based on its Retooling and Empowering, Retraining and Enfranchising (RERE) philosophy contained in the Barbados Economic Recovery and Transformation (BERT) Programme.
Minister of Labour and Social Partnership Relations, Colin Jordan, made this comment today as he addressed the official launch of PRIDE, at the Sagicor Cave Hill School of Business & Management.
Minister Jordan said that in this era of “Big Data”, the launch of an institution dedicated to, among other things, using analysis of data to positively impact business competitiveness and entrepreneurship, must be readily embraced.
“I, therefore, take the opportunity, as Minister with responsibility for the Social Partnership, to congratulate the founding partners of the Productivity Research Institute for Development and Entrepreneurship for your foresight and for your investment in this business endeavour.”
While noting that P-R-I-D-E was an interesting acronym, Mr. Jordan stressed it signalled the institution’s intention to operate at a certain level of excellence, not only in their own operations, but as it relates to individuals and businesses in Barbados and the region.
Meanwhile, Chairman of the PRIDE, John Williams, in recalling that its establishment came at a similar economic period as in the 90s when the National Productivity Council was formed, stressed that PRIDE was the reshaping of that entity, established 26 years ago.
Pointing out that the country was at the time challenged to develop strategies that would have committed us to gain rather than lose our competitive edge, he added:
“The Social Partnership from its inception realized that there was a need to raise efficiency and productivity in all spheres of economic activity to a level where Barbadian business could excel and where Barbadian products and services could become cost competitive and be synonymous with the highest quality and value.
“It was not surprising therefore that the role played by the National Productivity Council in this effort was considered critical over the years and its contribution caught the attention of the region from Jamaica to Suriname. The leadership from these jurisdictions, as well as other entities across the region, were impressed with the quality of the work produced by the Council and therefore often sought its assistance.”
The Chairman further noted that PRIDE was taking centre stage at a time when there is greater focus on economic growth as a key determinant of employment growth and international competitiveness.
And, as he commended the Social Partnership for appreciating the role played by the Council, Mr. Williams assured those gathered the new entity would continue this commitment to growth, development and ensuring a competitive edge in business.
PRIDE is expected to work collaboratively with all stakeholders, generating and designing systems for measuring and improving competitiveness, providing training and technical assistance to entrepreneurial ventures, and researching, monitoring and presenting on all aspect of competitiveness and productivity growth, among other things.