A Business Venture In/With Jamaica

Executive Summary

In Jamaica, the liberalization of telecommunications by government in 1999 has engendered an industry of service providers that has inflated from one in 2000 to over 200 providers and relevant organizations nowadays. Once there was only one service provider, Cable & Wireless Jamaica but the game has changed now. Amplified competition, lower costs in some cases, greater customer focus, and an augmented service choices supply are the hallmarks. The Telecommunications Act of 2000 helped achieve this, over three years, in three phases. Initially, to wireless telecommunication, the market was opened up; the supplying of customers' own equipment and to the re- selling of data, Internet access and international voice. This was accompanied by even more intensified competition by letting in cable television providers to turn into Internet service providers, (ISPs). Then, there was opening up of all telecommunications facilities to competition, encompassing data services and international voice.

A market was created by this liberalisation and the market appealed, some may even say formed, a supply of ready-to-go institutional and individual entrepreneurs. Telecommunications is not an easy market. Not anything valuable is. For those entering the telecommunications market, the first requirement is that they must be capable to take a long view. As it is sought by service providers to set up their competitive advantages; along the way, the consumer can gain advantage.

They are not only exposed to new service combinations for instance the Internet bundling, video and telecommunications with voice over Internet protocols (VoIP) that greatly lessen the international calls cost, but they also are capable to catch a glance of things to come. Such as, there are already some companies, who gear up to present image, voice, and data capabilities combined. In line with most international estimates, in telecommunications, the pay-off is somewhere between five to ten years or longer, esppecially when it boils down to offering wireless and mobile services.

A Business Venture In/With Jamaica

Introduction

The dynamics of the corporate world and numerous industries operating in it, are drastically changing and that too on continuous basis. The leader, who was ruling the domain of a particular industry, seems to have lost the spot to other competitors, given the changing facets and specifications of both the society, as well as the aspects of the incessant development in the arena of technology. Somewhat similar is the case with the mobile industry; the players and leaders are extensively embroiled in the race of technology attainment to make their products more advanced and desirable. Bering in mind, the prime connotations that are attributed to the previously mentioned statement, the corner stone of this paper rests at analyzing the venture launched by Nokia company (not a small, but a dignified and well renowned player in the mobile arena), in the different market, where its products may yield positive response, given the deliberately lowered prices, to meet the demands of Jamaican population.

Identification Of An Opportunity And The Means Or Process Of Approaching This Opportunity

The dynamics of the mobile phone industry have ...