c. Opportunities
Service Excellence
ICTs can play a significant role in service economies.
They can
connect the dots between people, companies, and institutions, and
have the ability to eliminate third-parties that operate between
producers
and
consumers.
Digital
ICTs
facilitate
on-demand
availability, seamless transactions, deeper relationships and greater
personalisation of goods and services, and pave the way for effective
implementation based on transparency and openness. Services offer
tremendous
scope
for
realization
of
sustained
growth
and
development in the Barbadian economy.
“Death of Distance”
The revolution in ICTs can enable Barbadian small and medium-sized
enterprises (SMEs) to overcome the economic disadvantage of small
size and realise what is referred to as the „death of distance‟, in which
outsourcing can serve as a means of managing increasing complexity
and the pressures of global competition.
Resources freed up by
outsourcing and the efficiencies achieved through ICTs allow
individuals and companies to pay for only those products and
services which they need. Additionally, ICTs can facilitate SMEs and
other businesses in their efforts to penetrate distant markets.
Human Capital
Just as foreign companies can set up call centres in the region to
leverage
the
Caribbean‟s
competitive
advantage,
Barbadian
companies can use the power of the new technologies to draw on
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