Introduction to Management | Internet Business Models – A Case Study. | Nicole Fearon |

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5/3/2012
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Contents Question 3 Approach 3 The Case (Taken from TTFI.net Article) 4 Case Analysis 5 Business, Industry and Government Reviews 7 SWOT Analysis 7 Analysis Summary 8 Porters Five Forces Model 9 Porter’s Diamond Model 11 Demand Conditions 12 Related and Supporting Industries (collaborative industries) 12 Firm Strategy, Structure and Rivalry 12 Role of Government 13 Interconnectedness, Complexity and Business Models 15 Challenges and Strategies 15 External 16 Internal Strategies 17 Summary 19 Reference 20

Question
Select one of the themes listed at the end of this table and undertake further research to prepare a paper outlining the key developments in the area. Your paper should contain references from a minimum of 15 sources, which should be clearly identified in a table of references or bibliography.
You should also indicate the implications of your study for organizations in the Caribbean and provide recommendations for the adoption of strategies to address the challenges.
Themes
• Evolution of Management in the Caribbean
• Managing in an Interconnected World
• Managing the 21st Century Workforce
• Use of ICT in Small and Medium Sized Business
• Ethical Issues for Managerial Decision Making
Approach
Information and Communications Technology is a wide topic that can follow many paths. The focus for this report is on the internet, its impact on business models and the role of Government within the enabling environment. Using Case information about an organization based in the Caribbean, the report will demonstrate ways in which the Internet has provided a platform for development and the associated challenges that also come with the internet’s development.
The report will consider strategies that could be used by the firm to overcome these challenges and what Government can provide to enable the environment for further development.

The Case (Taken from TTFI.net Article)
All around the world businesses are going online. In some sectors, future survival cannot be guaranteed without an online presence. This has already happened in the travel industry and is currently a major trend in the fashion, publication and financial sectors. The Caribbean region has been slow to move into e-business, in part because the banking sector has failed to provide internationally competitive e-commerce transaction processing services in much of the Caribbean. In spite of that, a number of innovative entrepreneurs have found ways to bypass the lack of such services and use offshore parties to ‘go global’. This is a story of one company that has been a pioneer in e-commerce, the T&T online music business ‘Trinidad Tunes’.
How did this story start?
It started as a joint venture between long time players in the music marketing business in T&T, the Caribbean Music Group and Riddums Productions. The key stakeholders in both these entities, Jean Michel Gibert, Lorraine O’Connor and Rosemary Hezekiah, were originally partners in a well-known local label - ‘Rituals Music’.
When did the e-music business focus start?
It started back in 2002 when the Caribbean Music Group was formed to manage and develop the Rituals’ label catalogue of music and artists. Riddums Productions operated (and still operates) a flagship store for T&T and Caribbean music at Piarco Airport - the Rhyners/D’Music store - selling mainly CDs. It became clear to all those involved that music was moving online and the future market space for CDs was fading fast. So the transition began.
How did the transition play out?
The first stage was to set up an online CD sales outlet at www.trinidadmusicstore.com where customers could select the CDs of their choice, pay online and have them delivered. However, by 2007 it became clear that this was not going to be an option with a long-term future so the first true e-music online download portal for Caribbean music with full e-commerce functionality went online in 2007 - www.trinidadtunes.com . This enabled customers to choose individual songs from an extensive menu after previewing them online and pay for the download using their credit cards. Jean Michel Gibert’s son, Sebastien, became a co-owner of this new portal and has played a key part in its evolution.
What happened next?
The big challenge for an online business is the speed at which technology and Internet capabilities are changing. Before too long it became clear that the original online presence, created by a French company, was not as customer friendly as newer more advanced portals that evolved. Sebastien says the portal underwent a major revamp in 2010 and early 2011 to modernize the site and ensure that the customer experience was at the leading edge internationally.
Why is this a success story?
Being a pioneer in the e-business area in a small country that has little e-business infrastructure and legislative support is not something for the faint hearted. But, with a population of just 1.3 million, the local market is just too small to sustain a viable music business in today’s world. By going virtual Trinidad Tunes can connect with anyone anywhere in the world and offer the unique sounds of the Caribbean to ‘world music’ fans. Sebastien stresses that Trinidad Tunes is the only legal online music portal in the Caribbean and that there are legal agreements in place with every artist, producer, and songwriter behind every listed song. They have had to learn a great deal about connecting with customers and converting visits into sales. But they continuously monitor what works and what doesn’t and make regular adjustments to ensure that their engagement with customers improves on an on-going basis. Because of this they now have customers in different parts of the world - in North America, Europe, Asia and, of course, in T&T. They recently achieved recognition for their efforts at ‘iCreate’ as part of the recent CANTO regional trade fair event held in Suriname - something that Sebastien is especially proud of
What does this mean for T&T?
E-business is something that is vital if T&T is going to diversify the base of its economy more rapidly away from its reliance on the energy sector. It is the only way that niche products can effectively be connected with customers who live in a wide range of locations around the world. Many traditional models for doing business cannot compete with e-commerce. Pioneers, such as those who have led to the development of Trinidad Tunes, are showing what can be done, even if the e-commerce environment is far from ideal. They are now global niche players.
Additional information on this case * Hosting for the site is outside of Trinidad and Tobago. * The skills to develop the site do not exist within the company and finding the skills within Trinidad and Tobago has been a challenge. * Revenue generated from through the site is allowing it to breakeven. * Getting the skills to develop the site has been a challenge * Payment goes in to a US bank first, incurring additional cost * There is major competition within the music industry and artists get a better return from other sites.
Case Analysis
The Case provides an interesting base from which to look at the use of ICT and the developments within it that have allowed companies to change their business model as well as identifying the gaps that exist within the environment and what strategies can be employed to overcome them. For the purpose of Analysis of the Environment and the company, the following techniques will be used * Organization SWOT Analysis * Porter’s Rivalry Model * Porter’s Diamond Model
The challenges for the organization will be identified within this report and strategies for dealing with these challenges will be outlined including Complexity (Wheatley) and the Business Model (Teece). Other references may be sited during the report where relevant. These may be from within or outside of the region and the industry.

Business, Industry and Government Reviews
It is important to understand the capabilities of the business and the environment in which they operate to identify what needs to change or to be built upon. For this review the SWOT and Porters Five Forces and Diamond models have been used.

SWOT Analysis
The SWOT is a common method for analyzing a business, its resource and its environment. Internal Strengths and Weaknesses are reviewed in conjunction with external environment Opportunities and Threats to provide the business with an understanding of;
What it does better than the competition and what competitors do better than the business
What the opportunities are in the industry and if they are making the most of them
What areas may have changed in the external environment that they may need to respond to? Strengths | Opportunities | Good selection of the music from the English speaking region | The market is in growth mode as people move away from purchasing CDs | Good reputation with artists and artist managers | Additional services that can be added to the platform | IT platform is reliable and open source software | More artists are coming through | Service is integrated from music purchase to download. Customer gets music quickly. | Film production is increasing | Regular customer following especially at Carnival Time | Regional music or other genres can widen the appeal | First to market so name has recognition in the Trinidad and Tobago environment | Market is moving to subscription services | Directors are experienced business people | Partnering with other services to increase value add to customers | | The company is bought out for their relationships and existing content. | Weaknesses | Threats | Selection is somewhat limited to the English speaking Caribbean (12m people) | The market for music downloading is an international one. There are a small number of mainstream services | Artists do not have an exclusive contract with them. | Music downloading is very unregulated | Programmer(s) for the site are contractors, not employees or owners | Sales of pirate CDs is thriving in Trinidad and Tobago | Money from purchase goes to a US account before coming in to Trinidad – cost of transaction and transfer | Artists may decide not to use the service | Customers are seasonal - Carnival is a peak and the rest of the year the traffic to the site is much lower. | A similar service may enters the market | Lack of Funding to develop the site | Music format changes and there is a major cost to update the platform to deliver the format | Not leveraging other social media and offline activities to grow brand | Development skills for the platform are not available or increase in cost. | Business model is a onetime purchase | Other services attracted customers and potential customers away. | Size of portfolio of music is small compared to mainstream services | The Software platform becomes obsolete. | Monthly revenues only just covering costs. | | There are not many other services around in the Trinidad and Tobago market that use a similar platform. | |

Analysis Summary
Trinidad Tunes has embraced the right type of service for the internet – one where the customer pays and receives their goods by download without any physical delivery of products. The company has done well to attract the customer base that they have, despite the many other services that provide downloads for free such as Island Mix, the artists’ own site and with a number of other peer to peer services (Pirate’s Bay, Groove Shark), or paid for downloads from a limited set of artists (the big name artistes are on iTunes).
The company has an opportunity to increase content by expanding the region of content coverage and including film content. In terms of revenue, the current model is very cyclical with peaks in February and July August (due to international carnivals). Changing the model to a subscription one can increase revenue to the company and even out the revenue flow. Partnering with a company who already has this model and a user base could change fortunes considerably.
The company name ties it very closely to a small population (Trinidad and Tobago has 1.4million which an estimated Diaspora of 200,000). The English speaking Caribbean is approximately 12 million people. The Caribbean (Spanish, French, Dutch, English) including the Central American countries around the Caribbean Sea takes the total to over 100 million. Internet services are governed by the law of numbers. The more people that are touched and feel affinity for the service, the more traction the site will get and the potential for revenue growth.
The Artistes that are on Trinidad Tunes do not have an exclusive contract with the company, meaning that the same songs could be on multiple sites, reducing the uniqueness of the Trinidad Tunes site. Should the artiste remove their content altogether, it impacts the potential for revenue on the site.
The site is breaking even but the technology continues to move. Development of the site is a must but the skills required do not exist with the company and must be paid for. Any major redevelopments would require outside funding. The music formats are advancing and should the platform not be able to handle this, it could impact the number of customers who currently use the service. While the site is built using Open Source (Free) Software, the skills required to develop the site further are a cost and also may not be readily available in the local market. Additionally, should the platform loose favour in the open development market, what skills will be there to develop or change the platform.

Porters Five Forces Model
Porter, a professor from Harvard Business School, has undertaken research on the organization, its operations and interaction with the environment that it operates within. The Five forces model is a framework for industry analysis and business strategy analysis, derived from industrial organization economics. For Trinidad Tunes, it would be useful to have a five forces analysis from when the site was first conceived and developed and currently to map the changes that have occurred in the industry in which they operate within.

In the table below, information on the Digital download industry is input in to the areas of the Five Forces Model to provide insight in to the nature of the industry and the challenges for Trinidad Tunes. Threat of New Entrants | Threat of Substitute Products | Barriers to Entry are relatively low * Open source (free) software * Pay on use payment engine * Cost of hosting the site has reduced * Cost of internet for the site has reduced * Buyers are not usually in a contract with other providers so switching is no cost * Buyers may have multiple services to get the music coverage they want * The internet provides a high speed distribution channel that is accessible from anywhere in the world that is internet connected. * Government policies only exist within country borders. Some Governments have not begun to consider the implications of the internet on the economy and the laws of the country * The larger services have offered a value add to customers. iTunes offers convenience, a device, the largest range, cloud backup for all music. * Spotify offers a subscription service access to all music | Threat of a Substitute is high due to * the relative ease of service set up. Entry level pricing may be offered lower than existing pricing models * Quality may be better than the existing service due to the integration of industry learnings and the newer technologies that can be integrated in to the service. * May come with a more attractive business model * No tie in to consumers on their existing service so low / no switching cost. | Rivalry Among Existing Firms2004, less than 60 services , 2010 – over 400 iTunes – downloads, cloud storageSpotify 750,000 subscribers Pandora 75 million registered users (20 million in 2008), 500,000 paying subscribersLimited cost to buyers for switchingCompetitors have different content based on home market preferences (Tescos – UK retailer, more UK Content) Capacity of infrastructure can be added quickly if design based on the use of virtual hardware (Amazon, other)Content can be added in bulk based on agreements with Record companiesInnovation is VITAL for continued relevance to users. | Determinants of Supplier Power | Determinants of Buyer Power | * The music industry is a global one * 2004 – 1million tracks, 2010 – 13m tracks * Label size is a key determinant of power – artists signed to bigger labels are in a better negotiating position (IFPI Digital Music Report 2011 – US artist Taylor Swift and the Spain example) * Supplier can determine which services would be best for them. * Industry is key to artists but is also leading a decline in revenues, mainly thought to be through piracy. Digital music market up 1000+ percent, revenues down 31% * Services offer provide different value propositions to artistes from download to full service including download, concert management, ticket sales and merchandise. * Record company - 29 percent of revenues in 2011 from digital download, increase of 6% over 2010 | * The internet opens up the service to a global audience. Estimate that 16.5% of internet users download music (audio) not always paying for it. * Services from download to subscription streaming based on preferences. * US$4.6bbn trade value * Easy switching from one service to other – no contract * Buyers use multiple services * Important factor is price * iTunes 10Bn tracks downloaded since 2003 |

Trinidad Tunes in the Five Forces Context
In comparison to a number of the mainstream services, Trinidad Tunes is a very niche player. The Five Forces model could be redone with segment competition. In this context Trinidad Tunes would have high competition from free download services such as Island Mix and peer to peer sites including Grooveshark.
The target market is also niche in comparison to the other services (English speaking Caribbean is 25million as opposed to the market for iTunes at between 500 million to 2bn. Price per download is comparable at 99c. The company does not yet offer a subscription service to users.
Service usage is seasonally sporadic due to Carnivals across the Caribbean region and elsewhere.
Innovation of the service is not high on the list as the company would need to pay programmers to undertake the work required. The main offering is different content and there is competition in this area as well.

Porter’s Diamond Model
The Diamond Model was developed by Porter to provide a view of the Competitiveness of Nations and the role of Government. For Trinidad Tunes, it is important to look at the supply of music within the environment and the capabilities of the environment to support the technical developments of the platform to develop the Trinidad Tunes model and capabilities.

Factor Conditions looks at particular raw materials or capabilities that were available in Trinidad and Tobago to attract sighting the company in the country. There is no immediate factor. From reading the case, the founders lived in Trinidad and worked within the Music Industry. A gap was identified in the market and the idea was born and auctioned.
Demand Conditions
The site was set up with local content that is in demand by the diaspora, providing them with a service that connected them to content from their home region. The content is very niche in comparison to the international market.
Related and Supporting Industries (collaborative industries)
The collaborative industries that Trinidad Tunes would work with are the Music (Culture) Industry and the IT industry. Due to the size of the population of Trinidad and Tobago both industries are small and considered to be behind the US curve by between 3 and 10 years depending on sector and international interest in it or a different curve all together.
The original directors all came from the local Music Scene enabling rapid connection with artists. In terms of IT, the directors brought in a short term consultant in IT to assist them hire the right virtual team and deliver on the promise of the platform. Finding those skills in the local market are
Very little experience exists within the local business environment to challenge the thinking or development of the Trinidad Tunes proposition. This is starting to change with interest from individuals and the forming of groups such as Internet Society of Trinidad and Tobago.
The ISP (Internet Service Provision) industry has come around to Trinidad Tunes and sees the potential for the site being a music hub (and driving data usage and internet subscriptions) and a means of adding value to customers through this.
Firm Strategy, Structure and Rivalry
The strategy that Trinidad Tunes came to market with has changed from delivery of product physically to delivery of product digitally.
The company structure is flat and virtual. Sebastien Gibert is the main person and pulls on the virtual resources (part time) of Michel Gibert and Lorraine O’Connor along as the administration capabilities within the Riddims company (effectively it is a division rather than stand alone). In terms of Marketing Strategy, the new frontier for marketing is Social Media, the use of Social Web Services to promote the use of a service – Linked in, Twitter, Facebook and others. Additional research on Trinidad Tunes identified that the brand was not well represented on Facebook (797 Likes) or Twitter. Rival type services (not legal download) have engaged Social Media more successfully (Island Mix – over 28,000 likes, Toronto Lime – over 11,000 likes). A search on Google for SOCA does not feature Trinidad Tunes on the first page due to the amount of content on the site and not as many references to Soca as some of the services mentioned. From the outside it would seem that Trinidad Tunes is not sure of its go forward strategy and its approach to target market and competition. Trinidad Tunes is not alone. According to Dalton Caldwell, CEO of Imeem, there is revenue to be made from purchased downloads and ringtones, advertising, ticket sales and merchandising. While Imeem has 100 million unique visitors to the site it is yet to turn a profit as costs of running are still greater than revenue. Role of Government
The Medium-Term Policy Framework from the Ministry of Planning approaches the Promotion of New Strategic Sectors as a platform for Growth, Job Creation and Innovation. Pg 61, Box 7 Outlines the Creative Sectors that are believed to have the potential to delivery on the promise. The Music Industry, including recording, liver performance and music publishing with collective management of Copyright & Related Rights. The document states that Government will introduce policy measure to develop the sector and build an industry.
Much of the information points to creation of content and performance rather than the commercialization of the content in to revenue for the artistes and the nation.
As well as the creative, the other touch point for Trinidad Tunes is Information and Communication Technology. Pg 72 of the Policy Framework documents identifies;
Building a knowledge based economy through affordable high speed broadband (internet) services including funding to deliver service to underserved areas (Universal access)
Strengthening the legislative framework for the ICT sector including stimulation investment (mostly on physical infrastructure) * Provision of efficient Government Services through multi channels * Internet enabled education
Within the Appendix Section, Priorities and Strategic Imperatives by Ministry, it is clear that ICT plays a key role either in providing infrastructure for service deliver, an enabling environment or, as in the case of the Ministry of Science, Technology and Tertiary Education “Guide the ICT Agenda to support a technologically enabled society”. The ICT that is identified is as an underpinning to the operations of the Government.

Interconnectedness, Complexity and Business Models
Very few situations are simple and businesses cannot operate in a void. The cause and effect do not have a one to one relationship but a connectedness to a number of causes and effects. To understand the business it is important to understand the environment it exists in. Interconnectedness has always been a factor but the increases in transportation and communication, in particular the connectivity that the internet provides, has been a game changer. While country borders exist, businesses operate beyond them and have begun to have impact on multiple nations. The laws that govern a country have little jurisdiction in the internet space. A number of Governments in developed nations have perceived this as a challenge to their national security and economies. Margaret Wheatley, in her book “It’s An Interconnected World” states
“Focusing makes things fuzzier. The more we study a complex phenomenon, the more confused we are bound to become”
She states that our very survival depends on us becoming better systems thinkers. Understanding the pieces of the puzzle and putting them together in a way that creates a differentiated value to customers in the market segment the business targets.
David J Teece of the Institute For Business Innovation, September 2010, defines the essence of a business model.
A business model reflects management’s hypothesis about what customers want, how they want it and how the enterprise can organize to best meet those needs, get paid for doing so, and make a profit. (p.173)
Teece raises an interesting point that economic Theory cannot always explain the business model i.e. that supply will only happen if the consumer is prepared to pay at a rate above the cost of supply. This model holds true in the traditional sectors on Industry with Airlines, razors, computer hardware. It fails to account for the Knowledge sectors of the economy where internet based services have a base service that is Free to build up users and provide premium value services at a price. An example of this is Linked In where the base service is no charge but additional searches (used by business to business marketing / sales people or headhunting recruiters) and advertising are a subscription or one time fee. The providers of the service must have a very clear idea of the market size, requirements and value to put a service out with a viable cost model.
According to Teece, the right business model is rarely apparent early on… entrepreneurs/manager who are well positioned and can learn and adjust are more likely to succeed.

Challenges and Strategies
Since the initial set up in 2003 the digital music industry has changed significantly as the capabilities of the people within and around the industry have grown and the penetration of internet has increased from 608 million users in March 2003 to 2.3bn in March 2012 (Source – Internet World Stats). In it’s growth it has lowered the barriers to entry in to global markets and changed access to capabilities (people and skills) and technologies (software, hardware and technical resources). The number of digital download services have increased from 60 in 2003 to over 400 in 2012. The challenges for Trinidad Tunes are multiple and a combination of company specific and environmental. The report will cover the environment challenges, which group / party should handle this and a potential strategy or strategies that may yield impact.
External Strategies 1. Genre Development & Awareness
The Caribbean English speaking region is one quarter of the population of the UK. Spread over 13 islands, each with their own culture and preferences, the Caribbean is a very disparate market sector. The music industry is, on the whole, not well funded and does not support too many bigger groups or arists. The top 10 percent of performers have become known across the region and wider afield. Development of musicians is sporadic and poorly executed making it difficult to find talent – singers, songwriters, instrumentalists. The Genre does have some following but it is limited in comparison to international genres such as pop music. 2. Strategy – Government & Industry collaboration on Music * Create a regional plan around the development of music and culture and action it within communities and in countries under a single organization through Government and Grant funding (such as the EPA) * Include music as part of the Tourism development plan and showcase it at international events (as they are doing with Olympics) * Create apprenticeship schemes for interested youth. * Create a cluster of competence around older experienced musicians and develop youth who show an interested
Outcomes
* Increased number of professional musicians in the environment * Improved performance * Better able to contribute the higher quality content * Higher quality output of music

3. Technical Capabilities & Innovation (Cluster)
Finding skills required in developing the technology platform of the website and other applications for the frontier zones of the internet is a challenge. There are a number of international communities for these but a regional cluster that understood the challenges of regional operations and provide stimulation for development directly or through collaboration may spur the industry on. As identified by Richard Bernal, Chief Negotiator for CARIFORUM on the European Partnering Agreement (EPA), the region has pockets of international capability. The challenge now is to widen the capabilities to take full advantage of the offers in the EPA. Currently the people of the region are very much consumers of internet content and less so creator of it.
The Government, through education programmes, can play a role in the development of technological awareness and capabilities that then feeds in to university for funding.
An alignment between the Universities and Industry can stimulate developments in particular technologies and create interest that generates funding for further development. It can also stimulate partnering between different firms in the development of a segment of competitive or comparative advantage.
Outcomes
* Development cluster of internet technologies to drive further developments. * Create reputation that attracts foreign direct investment

Internal Strategies
Trinidad Tunes can also change their approach to the market to differentiate and provide value to customers. 1. Re-create the Business Model
With a fresh look at the industry and the stakeholders – artistes and customers, Trinidad Tunes can create a Value Proposition that would differentiate the services offered from the competition. 2. Partner
Partner with an industry leader to broaden exposure and provide value through expanding the offering to customers through and access the partner’s customer base. An ideal partner would be an ISP. 3. Improve internal capabilities
Capability gaps in development and social media have been identified in Trinidad Tunes. Recruitment of the right capabilities or partnering to fill the gaps and drive exposure of the brand and activity on the site. 4. Site Development
Develop existing capabilities on the site and add functionality that appeals to customers. 5. Social Media
The new norm is brand engagement and the use of Social Media is common to create that engagement. The Social Media strategy should be created as part of the Strategic Marketing to align interaction with company goals.

Funding will be a key enabler to the delivery of strategies and overcoming the challenges. Funding can be raised through traditional means such as private investors or bank loans or through new sources such as crowd sourcing, where individuals vouch varied amounts towards ideas and receive anything from a thank you to products or shares in the idea.

Summary
The expansion and mainstreaming of the internet is the new frontier of Information and Communications Technology. The capabilities it enables, the information that is unfolding and the connections it facilities are creating disruptions in country economies, business models and people's lives.
The ability to develop a systems view of the complexities and to create direction from that is the frontier capability that will drive adaptations and survival.
For Trinidad Tunes, the development of the business model that creates differentiations against the competition, speed of development and promotion are key to the survival of the company. Short to medium term funding will most likely be required and there are multiple sources available of funding available. It will be important to build on the following that already exists and expand in to other other market segments where differentiation can be quickly demonstration. Embracing Social Media will also be key for brand building and identification. The industry is moving at such a speed that it a market scan should be completed every 6 to 12 months to identify what has changed in the environment, potential impact on the business model and adjust accordingly.

Reference

Lecture Notes – Interconnected World & Strategic Use of ICT, Intro to Management, Curt Wellington
Business Models, Business Strategy and Innovation – David J Teece, Institute for Business Innovation, Haas School of Business, University of California, Berkeley. Sept 12, 2010
Internet growth Stats – www.internetworldstats.com
IFPI Digital Music Report 2011 – Music at the touch of a button http://www.ifpi.org/content/library/DMR2011.pdf
Future of Music Coalition - http://www.futureofmusic.org/research/reports-surveys
Bloomberg Business Week – The Music Industry’s New Internet Problem, Douglas MacMillan, March 6, 2009 http://www.businessweek.com/technology/content/mar2009/tc2009035_000194.htm
Ontario Media Development, Industry Profile Music, March 11, 2011 http://www.omdc.on.ca/AssetFactory.aspx?did=6566
GIZ Reference Guide for Local Regional Economic Development http://www2.gtz.de/wbf/lred/index.asp
Complexity Theory and Management Practice, Jonathan Rosenhead, 1998
Building on Broadband – with the right business Model, Colleen Arnold, General Manager, Global Communications Sector I-Ways, digest of Electronic Commerce Policy and Regulation 2004
Trinidad and Tobago Foresight and Innovation Network (www.ttfi.net)