Building Resistance to Disruption

As part of our collaboration with the OECS Sustainable Development Movement conference, we explored a series of conversations on sustainable development.

In this first fireside chat we explored the topic Building Resistance to Disruption for Caribbean SMEs and Corporations with:

  • Derwin Howell, Executive Director, Republic Bank Limited
  • Nicholas Fuller, Director, Hybrid Cloud Services at IBM Research
  • Chike Farrell (moderator), Co-Founder & Chairman, Caribbean Ideas Synapse

Part 1: Lessons in Resilience

In part one, the following ideas were discussed:

  • Embracing technology to sustain operations & customer connection
  • How Shared Economy Platforms are Creating Opportunity for Caribbean Businesses
  • Why jumping in to new areas is crucial to reducing risk of being disrupted

Part 2: Shore up gaps in your business model

In this segment we explored some of the areas where the Covid-19 pandemic exposed business model gaps for Caribbean businesses. These included:

  • Payments
  • Fulfilment (Particularly in a Low-Touch Economy)
  • Customer Experience

Part 3: Making resilience a systematic capability for your business

In this segment we explored additional themes including:

  • Find new business opportunity in areas adjacent to your core business
  • The importance of taking time to understand your business and customers
  • Build resilience by focusing on supply chain and logistics
  • Innovate by embracing agile approaches & the power of ‘Test & Learn’

Part 4: Agility, Data & Enhancing Customer Experience

Key themes explored included some of the ‘new advantages’ that Caribbean Businesses & SMEs have and how we can be disruptive from the Caribbean. Topics included:

  • How technology levels the playing field
  • Making agility a core competency
  • Being Data-Driven
  • Closing thoughts on achieving more sustainable development