PEST Analysis of Jamaica
Jamaica’s government includes a parliament system based off the UK’s with Queen Elizabeth II as chief of state who appoints a governor general with the help of the prime minister. Executive power is in the hands of the cabinet led by the prime minister. The people’s national party (PNP) elected in 2011 wants Jamaica to leave the monarchy and have an established …show more content…
The Mission of the Ministry of Justice Jamaica is: "To contribute to social and economic development of Jamaica through the provision of legal and policy frameworks with which justice services are efficiently and effectively delivered to all". (http://moj.gov.jm/core-values).
Jamaica 's political system is stable and the country 's economic and social problems have become the political debate. High unemployment rate averaging at 12.5%, bringing the company here can provide many jobs.
The Tax Policy is responsible for developing and implementing tax policies geared towards the development and maintenance of an efficient and effective tax system that is consistent with Jamaica’s national objectives and international trade …show more content…
Jamaica’s power distance characteristics are about being independent, coaching leaders, with facilitating and empowering mangers. They’re more of a collectivist culture that’s family, group and society oriented. Jamaica has a more masculine culture, which is more assertive and decisive meaning they’re competitive which can be great for a company. This country has low uncertainty avoidance meaning they’re more relaxed when it comes to scheduling and work ethic.
As for long term orientation and Indulgence, these two aren’t available maybe because the past of Jamaica was negative and they don’t let that play into their present and future and they may not indulge because they’re a collectivist culture.
Bringing the pharmaceutical company here can create many jobs and decrease the unemployment rate while also using Jamaica’s natural plants to create new drugs. Along with making medical drugs in Jamaica they may also be able to supply those who are dealing with diseases who would possibly not be able to afford them. Due to its changing exchange rate putting money into its economy could help and may be worth it in the end. Tourism definitely helps Jamaica’s economy along with other trading