Bizzy: Wil­liams model best for UWI

UK Barbados Nation - - NEWS -

FOUNDER AND CHAIR­MAN of Wil­liams In­dus­tries Inc., Ralph “Bizzy” Wil­liams, is sug­gest­ing a new busi­ness model for the Uni­ver­sity of the West In­dies (UWI).

He says that it should be fash­ioned after the one used by his own com­pany, in which work­ers have a stake, rather than de­pend­ing on fi­nanc­ing from re­gional gov­ern­ments and stu­dents.

The sug­ges­tion came as for­mer Prime Min­is­ter Owen Arthur backed two pro­pos­als that would in­clude hav­ing stu­dents pay fees up­front, us­ing loans to meet their tu­ition and liv­ing ex­penses, and the is­suance of a Gov­ern­ment-backed bond by the uni­ver­sity.

Wil­liams, who holds an hon­orary de­gree from the Cave Hill Cam­pus, cred­its his busi­ness model with lead­ing to the es­tab­lish­ment of around 23 com­pa­nies in the re­gion.

At the launch of Cave Hill’s Re­search Week, he said he was will­ing to fund re­search to eval­u­ate whether such a busi­ness model had achieved its pri­mary ob­jec­tive of en­fran­chis­ing work­ers and en­cour­ag­ing the wide­spread un­der­stand­ing of how busi­nesses op­er­ated.

“In this Wil­liams In­dus­tries model, the share­hold­ers and the em­ploy­ees each share

25 per cent of the profit made, with the re­main­der set aside for in­vest­ment to ex­pand and cre­ate more em­ploy­ment op­por­tu­ni­ties.

“In ad­di­tion, the em­ploy­ees re­ceive shares in the busi­ness for long ser­vice that en­cour­ages high pro­duc­tion, [which] in­creases the share value and pro­vides the em­ploy­ees with a size­able lump sum of money on re­tire­ment if they de­cide to sell their shares back to the com­pany,” Wil­liams ex­plained.

“Sub­ject to the board’s ap­proval,

I would be happy to pro­vide rea­son­able fund­ing for a small re­search team to re­search the busi­ness model to de­ter­mine if it makes sense, and teach it and en­cour­age the wide­spread adop­tion as an al­ter­na­tive model to what is tra­di­tion­ally ac­cepted in Bar­ba­dos,” he said. ( WILLCOMM)

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