The key roles of An OOB

The key roles of An Independent Office Of Budgets (OOB) is to inform the Public on the effects of Proposals & Decisions, to make State Enterprises Attractive to Investors, to dispose of Loss Makers, to predict Economic Growth and Declines and to track Sectors & Industries Advances.

Intangible Data

Data has become a proven intangible asset. Following the industrial revolution, in the 19^th-20^th century, the Information Revolution, caused mainly by the increasing calculating speed of the microprocessor and the personalized devices it powered, was to be next. Quickly however, it became clear that processing speeds and device usability was not enough, raw data is needed to make useful decisions. Content, created from fact or fiction, is essential to providing results, the seed of which is raw or source data. Gathering and analyzing the raw data produces information. Content, which must be further queried and tested to form actionable intelligence, which drives learned decisions to achieve the desired results.

Preservation or Abandonment?

As a Senior Business Analyst, having reviewed numerous Business Models, I can offer this statement with confidence to the widest audience, “Eco-Socioeconomics is the only measure that dictates an operation success or failure”. Hence, Preservation or Abandonment.

Economic Problems, resulting from Mismanagement, inclusive of swings in Global Pricing, Technological Inefficiencies, and Operational Costings, are the fault of executives, hired and fired by the Majority Owners, failing the maintain the operation’s Competitive Advantage.

Job Creation

As Economists theorize on eradicating poverty, many jobless go hungry. For it is Politicians, from the Executive Branch of Government, who make the policy decisions to implement all needed strategies toward full employment. Elected Politicians, the Cabinet which engages the public service to implement, monitor and report, on the effectiveness of their policies, which will offer a basic standard of living to the public. Healthcare, nourishing and protecting the population. Education, messaging and training the citizenry. Infrastructure, providing essentials for the people. Economic Drivers, must pay for that basic lifestyle, expand the economy to match and surpass the nation’s expenditure, and to supplement Core Revenue; Corporate Profits, Value-Added, Personal Taxes, etc.

Office of Budgets

Economic Sustainable Development and individual Career Enhancement, both lead to long-term improvements in the Lifestyles of the citizenry. Such progress can only be achieved with a long-term vision and must be thoroughly planned and implemented to reap the anticipated benefits. But is very difficult and maybe even impossible to accomplish within a single, short-term electoral cycle. This is only truly possible via an Independent Office of Budgets (OOB) which is assigned to analyze, monitor and report on Financial Positions going forward. Such an Office must be headed by a qualified and experienced professional. A Director and team dedicated and devoted to the independence of the Office. Analyzing economic impacts which Proposed Policies may have on a ten-year Budget. While, approaching the Parliament (Law-Makers) for approval, financial allocations for the next one to three-year National Budget.

Leadership or Education

Human Beings, with proper guidance, are capable of four main roles; Developing, Inspiring, Administering and Building. The popular use of the word ‘leadership’ is contained in and among all these roles. Noting that, such roles are temporary, not a full personality trait, forming only a part of an individual’s existence. Persons having achieved some recognition of success, often did so by transferring and delegating leadership. Confidence, in developed talents, skills and abilities, are much greater attributes. Life’s main roles offers and brings individuals a measure of Success. The Developer Role endeavors to Invent and Innovate. The Inspirer Role attempts to Visualize and Create. The Administrator Role is to Monitor and Report. The Builder Role is to Construct and Assemble.

Economic Politics

The traded world price of commodities, be it Sugar or Crude Oil, is the starting point for industrial refining viability. If an organization (CARONI or PETROTRIN) cannot produce, a competitive product at a competitive price, it will die a natural or unnatural death. Wining down operations in any sector or industry is based on a level of understanding of the global issues: The industrial revolution, which saw manufacturing operations moving parts to its product, change to move products to its parts. The Information revolution which moved people to research now moves research to people. And further, the Knowledge-Based revolution which brings the best opportunities to the market, adjusting ideas, inventions, innovations and investments to a global marketplace. Hence, Decision-Makers, armed with facts, the political will and sensitive to the pain of change, must look forward benefiting the majority of the population.

Economic Drivers SYNERGIES

Developed Country Status depends mainly on a wide range of Economic Drivers. Sectors and Industries that are mature enough to weather slowdowns and disruptions, while generating operational profits and gross earnings, to contribute hard currency taxes, at the very minimum, toward the nation’s Healthcare, Education and Infrastructure. Underdeveloped nations must exploit #SYNERGIES to meet its highly needed Revenue Earnings projections.

A nation’s Human Resources is its main Revenue Driver, which sends the nation’s highly Skilled and Professional People out to work, to earn local or foreign currencies, after receiving basic healthcare and education, intensive training and with academic and vocational experience. Another Revenue Driver is the Extractive Industry which, locates and test the nation’s deposits of raw materials, to judge its viability to mine or drill, process and sell, and generate income. The nation’s Manufacturing Sector is another example of such a Revenue Driver, which combines many inputs to produce products for local and foreign trade consumption and currency. An another such Revenue Driver is the Tourism Industry which, combines accommodations, trade and transportation involving the nation’s natural and man-made ecology, to earn hard currency revenue.

Infrastructure SYNERGIES

Basic Human Rights speak directly to the provision of Infrastructure. The objective is the cost effective and efficient delivery of Water, Fuels, Electricity, Communication, Transportation and the Operation & Maintenance of these fundamental utilities, taking advantage of #SYNERGIES to improve human lives. Water and Waste are and must be treated for use, disposal and to be recycled. Fuels to Fire power plants, manufacturing processes, stoves, machinery and vehicles. Electricity powers many consumption devices, appliances and equipment. Communication transmits and stores ideas, trade and transactions. Transportation moves people and property via Air, Sea and Land. All such utilities, with Operational and Maintenance (O&M) cost and schedules embedded, have reliability, as its main concern.

Education SYNERGIES

The Human Mind is the only source of Ideas. The development of the Human Brain and Body is the key to progress. The use of existing teaching and learning techniques within the development of the Individual Intellect is Education. The general education process, using the best Science and Technology available, is to advance Literacy Levels, Logical Thinking, Skill Training and ultimately, Discipline and Respect.

Learning starts via sounds and, after birth, instinctively through repetitive actions, developing imagination, and interacting with the surrounding environment. Teaching Problem Solving, via cultivating creativity, decision making and interacting with other humans, is to advance a peaceful and caring population. Highly Skilled Individuals taught through Practice and Internship, to nurture invention and innovation, interacting with tools and materials and supported by People to further engage in Research and Development, foster ideas, prove suppositions and implement strategies.