The World Bank believes it has the answers. The Philippine Daily Inquirer’s banner story today shows a list of measures the International Finance Corp., the private sector development arm of the World Bank, is urging the government to adopt.
Do you agree with the IFC? It says the Philippines is weak especially in the areas of starting a business, property registration and ability to access credit.
In a nutshell, IFC suggests that the government should:
The proposal on the credit information bureau is particularly interesting because at the moment, lenders are keeping their own counsel on who is creditworthy or not. Why would they share that kind of information with their peers, no matter what they say publicly about “working together for the good of the industry.” The absence of a good database on potential borrowers makes it easier or bad borrowers to get a loan and raises banks’ past due loans.
Who is the end loser here? The banks to a certain extent because their image gets hurt, but more so good borrowers who get higher interest rates and a longer time to process loans because of more documentary requirements and credit history checking. At least, that’s how bankers explain the situation.
Unfortunately, getting that reform done will depend on Congress, where the road to an important bill can twist and turn like a supertyphoon dancing with another supertyphoon.
March 10th, 2008 at 9:29 am
“carlo, good for you! this means we can opt not to get involved with their hanky-panky.”
Very Well said Salve! Hear Hear!
January 28th, 2008 at 7:05 pm
“One-day market positioning session” for business start-ups
Mind Bullet Inc., a direct to consumer communications PR firm in the Philippines, introduces its “one day strategy session” aimed at helping predominantly start up enterprises and companies position themselves properly in the market.
At the launching of its website, http://www.mindbullet.org, Mind Bullet leverages market positioning as it applies to new business. President and CEO Eero Brillantes elaborates. ‘What we have done is to concentrate on key market positioning subject areas appropriate for start up businesses. With some preparatory time, a session would last a day with a measurable market positioning program as output. After the session, we present our strategic recommendations. After that, it all nurturing time spread over the period a program is being implemented. ”
Brillantes emphasizes the need for proper positioning as necessary to roll out new business.
“Now more than ever, market positioning is a major activity for any new business to succeed or even become dominant in a market. As a process, market positioning encompasses certain factors essential to roll out strategies and launches. Identifying real value, actually owning key words and phrases in the consumers mind, and establishing consumer relationships based on human interaction is what market positioning is all about”.
Brillantes mentions that a lot of new businesses spend so much resources on capital outlay and tactical marketing campaigns only to be frustrated.
“How many times have we seen owners of businesses spend on equipment, expertise, and marketing gimmicks which do not give real value. It just so happens others have spent on these also. The same equipment is bought. The same media-marketing mix are employed. Similar corporate philosophies and business models are cascaded throughout the organization. But if you look closely, a lot of spending go to expenditures which do not anymore provide the competitive edge needed to succeed. Many factors of competition are already at parity. Yet this type of mistake is common. ”
For his part, Nestor Mijares, Accounts Director at Mind Bullet says that nothing beats owning real estate in the mind of consumers.
“With so much information out there, and a galaxy of options for consumers, how do products and services stand out if these are new? Owning a word or phrase and relating this with what is offered is the most powerful outcome of any in market positioning strategy. Done properly, positioning makes a product, service, or individual stand out in the crowded market place and even at times dominate . Pushing the envelope further, proper positioning opens up new markets.”
December 20th, 2007 at 5:13 pm
purevoid, that’s the thing. as of now, our government is so fond of red tape.
December 20th, 2007 at 5:12 pm
bopols, from LGU to national…hmm..i like your recommendations but that’s like moving from the fire to the frying pan. Sigh. Next election, i hope the electorate is educated about this.
December 20th, 2007 at 5:09 pm
carlo, good for you! this means we can opt not to get involved with their hanky-panky.