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Procurement Risk and Business Continuity: A Convergence

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(CNN) A 6.0-magnitude earthquake shook Puerto Rico September 23rd striking off the coast of the island in the Atlantic Ocean. The quake hit about 49 miles north-northwest of Isabela, Puerto Rico, around 11:23 p.m. ET, according to the United States Geological Survey. The quake was felt in many other islands including, Bahamas, Haiti, Dominican Republic and more.

A 6.0 Earthquake near a critical drug manufacturing hub?

Single Point of Failures can happen at anytime, anyplace. On September 23rd a 6.0 quake occurred near Puerto Rico , a major drug manufacturing hub. It wasn’t long ago, 2017, when Hurricane Maria struck PR and disrupted the global supply of IV saline bags (did you know this?). Major faults run through a critical supply region. 49 pharmaceutical have FDA approved manufacturing facilities in PR alone. Baxter, Eli Lilly, J&J, Boston Scientific, Medtronic, ABC, and Cardinal are just a few that operate in the region. How at risk are your patients and how resilient is your supply chain?  A fellow risk practitioner, Gary Lynch, shared these interesting facts.

How wide a net do you cast when you look at emerging risks or when you undertake a “horizon scan” or do you  not do any of this?

Procurement is much more than Compliance. It involves and must consider, Force Majeure’s, Business Continuity, Disaster Preparedness, Operational risks, Financial risk, political risk et all.

In a very interconnected world, where many suppliers/vendors to your business are located regionally and internationally, how is it possible that you do not look at these risk types? Further, you must look at the risks that they, your suppliers are exposed to, even if you, as the procuring agency may not be exposed to said risk.

 

I respectfully submit that the complexity and agility of procurement risks must form part of your overall risk management methodology.

Ken Hackshaw – Lead Faculty for Professional Certificate in Enterprise Risk Management.

 

Relevance of Master of International Business to the Guyana Market

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       1. What is the relevance of the MIB programme to the Guyana market?             

Developments within the oil based sectors are redefining the Guyanese economy. As a result, an impending influx of multinational and international business opportunities is indisputable. Guyana’s economic integration and growth will deepen and it is imperative that the local workforce understand the complexity associated with maneuvering this complex and diverse global business landscape. If these skills are not developed, the country and its citizens are at risk for capturing only minimal benefits from its newfound natural resource wealth.

 

       2. What are the benefits of this programme?             

This programme will provide graduates with the skills and knowledge needed to function as key bridges for international business. As foreign businesses enter the local market, they require competent individuals that not only understand the local market, but are also knowledgeable the various facets of international business. Persons that are able to master both components will possess key competitive advantages over expatriate and regional labor.

                 

        3. Who should do this programme?    

This programme is suited for individuals interested in the global dimension of business and management. These persons should have a keen interest in working directly with (1) multinational enterprises, (2) local firms engaging or providing services to multinational enterprises (3) local firms interested in exploring foreign markets for growth or (4) local firms interested in leveraging global opportunities to drive local growth. Likewise, government officials charged with international trade and policy development will find this programme useful.

             

        4. What are the opportunities upon completion?

Persons completing this programme are well equipped to capitalize on opportunities within:

·        Subsidiaries of Multinational Enterprises interested in establishing local operations (Subsidiary liaisons, managers, brand and business development managers)

·         Local firms supporting foreign firms operation in Guyana (Supply chain executives)

·        Import and export associates/managers at local firms

·        Consultancy firms aiding foreign firms on market entry (Management analysts, International Business Consultants, Compliance officers)

·        Guyanese trade ministries and international policy units

 
To learn more about the Master of International Business, speak to an Academic Advisor at 868-645-6700 ext. 200 or email: admissions@lokjackgsb.edu.tt 

Lok Jack GSB Executive MBA Ranked #20 in the Latin America Region

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According to the Eduniversal Best Masters Ranking 2019, the Executive MBA programme offered by the Arthur Lok Jack Global School of Business ranked #20 in the Latin American region. Lok Jack GSB was the only Business School from the Caribbean to make its way into the top 20!

Executive MBA Ranking Number 20 in Latin America Region

The Eduniversal Best Masters & MBAs ranking classifies the best post-graduate programmes in the world and recognizes the academic strengths within global institutions. The ranking is determined by the survey responses received from three important ranking groups each year: deans and directors of the programmes, recruiters, and graduating students. The results of the surveys from these three groups are used to determine the ranking of programmes in 50 fields of study. The Ranking is an important source of information, often used by students and companies to determine the quality of an institution.

The Executive MBA programme offered by the Arthur Lok Jack Global School of Business is globally accredited and recognized by the Association of MBAs (AMBA), the global standard for all MBA programmes. The programme is  designed to transform senior executives into capable global leaders by equipping students with the skills to:

  • Make strategic decisions that would positively affect an organization
  • Lead an organisation while accomplishing organisational goals
  • Conduct research and create applicable solutions for organizational issues

To speak with an Academic Advisor directly contact us on 1-868-645-6700 ext. 200 or email admissions@lokjackgsb.edu.tt

Click on the button below to learn more about the Executive MBA programme offered by the Arthur Lok Jack Global School of Business

 

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