The book’s ten chapters are mirrors of the CSEC syllabus and range from the domestic environment in which businesses operate to global trading and financial arrangements. The CD Rom which comes with the book is excellent, but a bit slow and the publishers might consider printing some basic instructions on its use in future reprints. The Power Point presentations are useful for the teacher, although the several links are probably too advanced for the principal target level.
The authors are all from the Caribbean with the lead author being Mark Wilson who for close to two decades has been engaged in research and writing, including as a correspondent to some leading international publications. Mr Wilson is supported by Patrice Bowen and Anthony Rogers who are both teachers and examiners.
The book seeks to reify abstract concepts by actual case studies involving the roadside entrepreneur, fruit vendor Richard Quamie; and regional business houses such as Ansa McAl of Trinidad and Tobago, Demerara Distillers Limited of Guyana, Goddard Enterprises Limited of Barbados, Scotia Bank of Toronto Canada and the regional airline Caribbean Airlines. In fact the book features some fifty businesses of which at least five – DDL, IPED, Kings Jewellery World, GuySuCo and Correia’s Mining – are Guyana-based.
The case studies are relevant, easy to read and the average student will find in their own country a comparable example with which to identify. So that while the student from the countries of the OECS may feel disappointed at the omission in the book of any business of OECS origin, they will have no difficulty in substituting LIAT for Caribbean Airlines, or the St Kitts, Nevis, Anguilla National Bank for Scotiabank or the Spice Island Beach Resort in Grenada for Sandals (Jamaica).
The significant number of start-ups and entrepreneurial businesses in the case studies is a welcome development in this type of text, as publishers generally find it all too tempting to highlight the more established, larger businesses. As perceptions and the benefits of self-employment change, the student just coming out of school is increasingly likely to work in one of these entrepreneurial businesses or indeed contemplate self-employment rather than join one of the larger established companies.
Caribbean Business is an ambitious book of both depth and breadth. It deals with topics and issues that are fluid and developing such as ethical and legal issues, intellectual property and management information systems. The main authors would therefore have had to rely on experts in different fields to provide the material on the more specific topics. Not unexpectedly, but perhaps a bit riskily, accuracy may be compromised as in the case of the review of the history of company legislation. The book indicates for example that, “Caribbean governments decided in 1979 to standardize their company legislation.” In fact it was in 1971 that the Eighth Meeting of the Council of Ministers of the Caribbean Free Trade Association appointed a Working Party under a Harmonisation of the Company Law project.
It is also not correct to suggest as the book does on page 22 that all companies offering shares to the public are listed companies, since a company can have, as in the case of Guyana, its shares traded on a stock exchange without those shares being listed. A little more care too would have ensured that minor errors would have been eliminated and avoided the cutting in mid-sentence one of the reasons for businesses to seek legal advice on page 141.
The book’s pedagogical approach will help students to assimilate the chapter contents as they undertake the quick research required and answer the quick questions posed. These mini-tests are simple enough not to require a separate Teacher’s Guide but for the student, challenging enough to provide an ideal opportunity for team work among students.
I particularly like the 39-page School Based Assessment on a Business Plan that concludes the book. The preparation of the plan requires the application of the theories and concepts covered in the ten chapters, teamwork and guidance and recommends that instead of the student relying on the earlier case studies, they should do additional research, and exercise their independent thought to bring a fresh perspective to the exercise. To ensure clarity of thinking and economy of expression, the plan must be done in no less that 1,000 and 1,200 words with a penalty of 10% of the marks if the word limit is exceeded by 10% or more.
At a time when the world is becoming more environmentally aware and increasingly uses recycled or lower-cost paper, Caribbean Business for CSEC Principles of Business is produced on full colour, glossy, high quality paper and its 440 pages weigh a full two kilos. And for all the attention paid to Caribbean businesses in the book, its target user will be mildly disappointed that it has been printed in Singapore. The student might have liked to see the Glossary in the CD Rom which accompanies the book included in the print copy.
The book is written in a style that will facilitate the work of the teacher and the structure and the clarity of writing are easily understood and relevant to the subject. Despite some unfortunate but not major lapses, this is a very good book and if studied seriously and applied with an adequate supply of past examination papers, it is almost guaranteed to bring success to the student.
