How Can Business Progress From Here?

[zimdude]

We were getting started in the Career Here or Abroad (http://www.pinoyexchange.com/forums/showthread.php3?postid=612647#post612647) thread, but it is a topic on its own. The thread dealt with the situation where Filipinos need to seek out a living outside the country.

This new thread is taking the move towards renewal and rebuilding in the Business context.

How can the Business Community, and we as part of it, take part in renewal? How can we develop programs that will help the poor without just paying lip service?

Or will the country forever remain in an agrarian/feudal/padrino-based economic system? Perpetuating the "class struggle" that both the leftists and the self-ists (Erap) tried to exploit?

All thoughts appreciated...

[batang uliran]

My basic belief is that once the economy grows, everyone benefits - jobs are created, government spending for public services is enhanced, and purchasing power is increased (more favorable peso/dollar exchange rate and decreased inflation).

What should business do?

1. Support GMA and come up with a credible group of advisers from the private sector to advise her. These advisers should not have any direct dealings with the government and should not hold concomitant government positions.

2. Start to meaningfully enter progressive industries - i.e. IT, telecommunications, and even biotechnology while de-emphasizing more traditional areas - agriculture, mining, etc.

3. Institute employee training and education programs as well as profit-sharing schemes.

4. Invest in Mindanao - this would help quell unrest and tap a previously underutilized manpower.

5. Pay taxes dutifully - too many businessmen still underpay or completely evade taxation.

That's all for now. I hope others share their ideas.

[aticus]

I agree with b.u. in every respect, but I must caution that if we were to de-emphasize traditional fields like agriculture, we MUST find ways for our farmers to make money. It is our solemn duty as a nation to see to it that the poor will never be used as pawns in anyone's political plans again.

We must now immediately call out to foreign investors to come in, while we're in world focus and our good name has been restored by this inspirational event. This is the best time to take advantage of the world's amazement at our ability to change leadership without bloodshed. I think we can now properly claim to be the most stable democracy in SouthEast Asia.

[KuyaDanny]

Crony-proof your business

I am still amazed at the kinds of new businesses I've seen established in recent years. A big percentage of their businesses plans consist of nothing more than deriving benefits from connections in high places.

When making your business plans, determine how big a part political connections play in your future success. If connections are the major, or only, reasons you are making money, then you have a crony business.

To strengthen our economy, we need businesses which make money by providing goods and services the market wants. We need business which can win in the competitive marketplace, without the need for artificial and transitory props such as connections to politicians.


Recognize that the process of building is a long and arduous

We are all human beings and are entitled to be euphoric in the face of good news. At the end of the day, though, we need to be sober and face reality. The economy is still in bad shape, and it will be for a long time. While we are rebuilding it, we will face hardship and frustration. We should not expect results overnight (no one is that lucky), and above all, we should not be quick to give up in the face of adversity.

[aticus]

Again, I agree.

Just to add an extra thought.

Businesses need to get more integrity themselves. By "integrity" I mean that businesses should be more transparent with their workers, be more honest in their dealings, and strive to create a solid, profit-making company WITHOUT having to bribe, cheat and/or steal to do it.

I think a major reason why quite a number of simple folk responded to Erap's "rich vs. poor" propaganda line is because many do not trust big business. Companies always seem so impersonal, almost heartless sometimes, especially when dealing with real human beings with real emotional needs and concerns. Just look at SM's practice of "rotating" its casuals. That doesn't do any good for business trust.

There are those who would say that this is too idealistic, but I actually believe that the most stable long-term businesses treat their employees well, make good, solid products that consumers really benefit from and/or enjoy using, and deal with other businesses honorably and fairly.

Otherwise companies might end up like Urban Bank. Employees treated like crap by the President. The bank screws other businesses (including other banks). Illegal transactions with their subsidiary. (And to think that banks are founded on trust!) So when the chips were down, they didn't have any friends left to support it. Even Gov. Buenaventura came down hard on them, because he'd been a victim of Urban in the past.

I hate to admit it, but this is almost like Covey's Principle-Centered Leadership spiel. Except I don't think Covey's very grounded and I think he's one of the most boring speakers I've ever had the misfortune of listening to! :)

[DAILO]

Hello peeps! I've been out of the country... but i havent forgotten my fellow pexers in here.

We need to restore confidence in the Business Sector by improving governance. Domestic and foreign investors must be assured that governement can institute a level playing field without the fear of favortism or cronyism. They need to instill a strong work ethic of integrity, honesty, and accountability from all personnel, highest officals down to rank and file. The economy is battered with no where else to go but up. Last year BSP had only capital reserves of approx $4B and the deficit was approx P130B... also IMF wouldnt release the standby credit of $500M in addition to the country report they issued stating our country was uncertain.... Wells things are changing hopefully for the better as everything improves.

Today was such a good day... on Friday I placed orders after the AFP defected and today everything hit the ceiling! the economy should start moving now.

GREED IS GOOD!!! :D :D :D

[KuyaDanny]

Originally posted by KuyaDanny
Recognize that the process of building is a long and arduous


Another suggestion: do not hesitate to correct the moderator's grammar.

[zimdude]

So we'll be watching Big Business as much as we'll be watching Government. Hmm. :|

In any case, Ateneo alumni are convening a meeting on-campus to see how we could fulfill our obligations to help. I started the thread here:

http://www.pinoyexchange.com/forums/showthread.php3?threadid=34795

And it is good that this has started us thinking, then acting.

[DAILO]

Singapore's DBS bank cautions against excessive Arroyo euphoria

Singapore -- Singapore-based DBS Bank cautioned Monday against excessive market euphoria at the downfall of Joseph Estrada, saying Gloria Arroyo's first 100 days in office will determine investor confidence.

"Arroyo has little choice but to succeed, or else the euphoria in the market will be just a relief rally, nothing more," the bank said in a market research report.

As investors celebrated the weekend replacement of Estrada, with share prices closing 17.6 percent higher after earlier rocketing up 34.5 percent, DBS warned that the new president still had to prove herself.

"What Arroyo does and does not do over the next 100 days will determine how investors view the Philippines over the medium term.

"Judging from the euphoria in the market, the expectations are high, which leaves us cautious about large disappointments."

The DBS report said the Estrada "crisis" exacted a heavy toll on the Philippines, economically, politically and socially, and Arroyo "faces the monumental task of healing the country in all aspects.

"She is likely to have a difficult time uniting the people while bringing economic recovery to the country," it said.

Despite her stellar record in terms of popularity and competence, "the people are still unsure of her ability and integrity as president...many are still wary of her showbiz personality, seeking assurances that she is indeed the smiling, gracious and kindly lady she projects herself to be."

DBS, Southeast Asia's largest banking group, saw Arroyo's campaign promises as lacking a coherent national vision, and said there was a risk of the market over-pricing the hope that she brings to the country.

"We maintain our view that Arroyo is no panacea for the acute challenges confronting the Philippines," the report said.

"Until we get a clearer picture after Arroyo's first 100 days, there is still a risk that the Philippines has stepped out of one woods into another." -- Agence France-Presse from BridgeNews



[Edited by DAILO on 01-23-2001 at 01:38 PM]

[zimdude]

So what's the difference between making profit and making excess or immoral profit?

[KuyaDanny]

You can spend an entire lifetime and still be unable to give a satisfactory answer to that question. To start:

1) Profits resulting from illegal activities are immoral.
2) Profits resulting from a monopoly situation are excessive, and using illegal means to perpetuate the monopoly situation make the profits also immoral.
3) Profits resulting from unfair advantages which limit competition are also immoral (at least to me).

[f0r5aK3n]

Follow the Japanese Education Model..

[bagyoboy]

Originally posted by aticus
Businesses need to get more integrity themselves. By "integrity" I mean that businesses should be more transparent with their workers, be more honest in their dealings, and strive to create a solid, profit-making company WITHOUT having to bribe, cheat and/or steal to do it.


Making bribes is part of the "system". I don't know if we may call it a "cultural problem", but when new graduates enter the workforce or when new entrepreneurs come into the businessworld, I think 90% will not survive without bribes and kickbacks. This 90% just realize that they just have to do it to survive or to "get ahead".

I would estimate that out of each generation, only 10% will have the courage to operate from integrity.

So I think it will take many generations before a clean "system" will unfold in our business world, first, and our government, second.

Until we see this system based on integrity working in the private sector, we will not see it work in government. Its "legal" to do it in the government. Sell something to the government, and you will be discussing kickbacks openly in a meeting with the department head, and the end-user.

Import something, and you will have to undergo this system in the Bureau of Customs. Tax evation under the BIR has been there since time immemorial.

I think it will take a lot of commitment from our generation and the succeeding generations to make a real difference in our everyday dealings. Going to EDSA and making changes in our national leadership is one thing, but making changes in our own everyday business and personal lives is a bigger thing.

Development is not about secret accounts and kickbacks. Its about creating jobs where employees, businesses, and government all win operating from integrity.

Now I'm beginning to sound like Covey too! :)

[aticus]

I agree that bribes are a way of life, but I'm trying to do what little I can to change the system. For example, I have never bribed anyone just to get business. And I never will. My philosophy is: If I'm not good enough to get it without paying for it, I don't deserve it.

It's a bit tough, I know. I have enough contacts to make it worthwhile if I went into a life of crime... but somehow my conscience just wouldn't take it... I was even offered a chance to work for Erap's PR team! :) Big bucks, but no honor. I turned it down, and I don't regret it one bit.