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Caribbean organizations can be characterized as a consciously coordinated social unit, composed of two or more people that functions on a relatively continuous basis to achieve a common or agreed set of goals. One of the key goals of any organization is to make a profit.

Today Caribbean organizations are changing from the high levels of protectionism and stability and moving towards a more global environment which is multifaceted and highly dynamic. This transformation leads to liberalization of the old economy which took place during the 1990's where there was reduction of tariff barriers and massive influx of foreign direct investments entered the market. During the old economy, the Classical Approach to Management was used to shape the assumptions held by Caribbean organizations in terms of planning of work, the technical requirements of the organization, principles of management and the rational and logical behaviour of employees. Collectively Classical Theorists viewed organization as machines and closed system which is less affected by the outside world.

Then came the new economy which is ushered in by globalization and the creation of regional trading blocs such as CSME, FTAA and WTO. This global economy is now characterized by a competitive business environment which posits several opportunities and threats including massive influx of imports, competition, rationalization, new technology, delayering of some top management and downsizing of employees. All these function to undermine the efficiency of scientific management and thus enabling Caribbean organizations to compete and survive within this new environment. Scientific management worked relatively well in the old mass market and eventually it shapes the production method which became the "hall-marks" of the corporate world.

With the emergence of globalization and the opening of the telecom's market in 2001, Cable & Wireless Jamaica was hit by a bomb after the markets were deregulated and their competitor Digicel gobbled up the market share in cellular markets. This is as a result of Cable & Wireless not being adequately prepared to operate within such a dynamic environment and also they totally underestimate their competitor's power.

Globalization is a powerful tool which can be defined as a process of growing interdependence between all people in this planet. These people are linked together economically and socially by trade, investments and governance and together they drive market liberalization and information along with communication and transportation technologies.

A global economy is an unprecedented phenomenon which is based on the development of international trade, foreign direct investment and migration. But while globalization and interdependence pose many threats to established methods for conducting business in the organization, it also offers new opportunities for Caribbean countries to remove barriers to cooperation and to enhance production, investment and income for the betterment of the people in the region.

The CARICOM Single Market and Economy (CSME) is just another phenomenon which was created to deepen the integration process and strengthen the Caribbean community in order to meet the challenges and opportunities presented by global changes. One of the major objective of the CSME is the creation of a single economic space which will provide for inter alia, that is, the free movement of goods and services, labour and capital. This move towards the implementation of the CSME will not only allow Caribbean organizations to survive within an increasingly competitive environment, but also to achieve economic growth and development.

As the Caribbean community intensifies its efforts to transform itself into a single economic space through the creation of regional trading blocs such as CSME, Free Trade Area of the Americas (FTAA), World Trade Organization (WTO) etc., Caribbean organizations are now faced with many challenges. Some of these challenges include synchronizing its external and internal arrangements where the capacity to grant reciprocity in free trade arrangements is vital, and the free movement of capital and certain categories of skilled labour eventually leads to the free movement of persons.

With the impact of globalization and the creation of the regional trading blocs Caribbean organizations must now look in a new direction in order to facilitate its success and long-term survival. This paradigm shift will cause organizations now to critically evaluate their performance by creating a vision and a strategic plan that will increase opportunities. Organizations will now have to embrace continuous improvement as a strategy for improving their products and services. They should possess a comprehensive set of skills and competencies and be able to deal effectively with the forces which represent opportunities and threats to the organization. Effective strategic management will only create a productive alliance between the organization's culture and its resources.

Management forms an integral part of, and fundamental to the successful operations of any organization. It is the cornerstone of organization effectiveness and is concerned with the arrangements for carrying out the organizational processes and the execution of work. There are many aspects to management in the work organizations, but one essential ingredient of any successful manager is the ability to handle people effectively to attain the organizational goals and objectives. Therefore at the heart of any successful management is the problem of integrating the individual and the organization which requires the understanding of effectively applying human resource strategy, motivational strategy, leadership qualities and organizational behaviours. As organizations change it is imperative that managers use one of these organizational and decision making tools in order to achieve long-term survival and success in this global economy.

The main purpose of human resource management is to efficiently and effectively manage the workforce to attain sustainable competitive advantage. There are two perspectives used by managers to effectively balance the organization. Firstly, managers can use the hard approach to manage employees and this evident in companies such as National Commercial Bank Jamaica Limited who is now undergoing restructuring and are making most of their employee redundant and employing younger persons to do the job. By using redundancy as a means of balancing the organization indicates that there is a violation of staff psychological contract which eventually will lead to a host of negative psychological outcomes as well as negative behavioural outcomes within the organization. Consequently employees will now start to show resentment, show