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Setting SMARTer Goals

By Raju Mandhyan

IT IS WELL understood that S.M.A.R.T. stands for Specific, Measurable, Attainable, Relevant, and Time-bound goals. In my book, The HeART of the Close, there is an offer to make goal-setting SMARTer.

What do we mean when we say specific, measurable, achievable, relevant and time-bound? Let’s look at the illustration as we speak.

First, let’s talk about specificity from the perspective of your true intentions. Answer the question: What do you want? Take the necessary pause, think deeply, and answer the question again. What is it that you truly want?

Answering “I don’t want to be living on a month-to-month income” does not help. Your triune brain will have an internal conversation and will bring up an image of, “living on a month-to-month income.” The triune brain will not know how to negate an idea or image. It does not know the concept of “do not” want. For example, if I tell you do not think of a pink elephant, what does your triune brain do? It conjures up a picture of a pink elephant in your mind. It can try but will be unsuccessful in erasing it.

So, when stating a goal, state it as a positive statement. Instead of the above negative statement, recast the thought to something like “I want enough personal cash reserves to sustain my living style for at least five months.” Now that is positively stated, but it is ambiguous. You need to give it specificity.

Question: What is it that you truly want?

Wrong answer: “I don’t want to be living on a month-to-month basis.”

Right answer: “I want to have enough to live by for five months.

Right, specific answer: “I want consistent, available cash of P100,000 in my bank.” Specify the answer by stating P100,000.

That now is a specific want expressed as a goal. It can get more detailed by expressing the name of the bank but we can settle for this much specificity for now.

Now, let’s talk about the measurability of a set goal. With measurability, we need to answer the question of “How?”

Question: How do you get that P100,000 as a consistent cash reserve?

Answer: We get there by saving up P5,000 every week. The goal setter has answered the specific and measurable part of the goal setting process.

The next detail we need to fill in is the question of being attainable.

Question: Can you save up P5,000? Answer: Yes.

Question: How exactly? Answer: I will dine out twice a month instead of twice a week. I will take the bus to work every day instead of a cab. I will limit personal shopping expenses from P20,000 a month to P10,000 a month. I will move into an apartment costing P35,000 a month instead of the one I am currently renting at P50,000 a month. I will connect with 20 new prospects every week. This is how you probe and detail answers to the question “Is the goal attainable?” The more drilled down to finer details it gets, the better it is for it to be etched into your triune brain: Rational, Romantic, and Reactive.

The Relevancy portion of the goal setting taps into the Romantic and the Reptilian brain parts of the triune brain and it answers the question “Why?” in the goal setting process.

Question: Why is the goal important to you?

Wrong answer No. 1: Well, as I said, I don’t want to be living on a month-to-month cash flow. Wrong answer No. 2: I want to be more successful than the Joneses.

Right answer: I believe the security of having cash easily available will keep me peaceful, happy and more productive.

The Relevancy part of the goal setting process must have meaning and value to the goal setter and must be an intention and desire initiated by her. You, as a sales manager, can set business targets and quarterly sales quotas for your salesperson, but the desire needs to be ignited by her. You can assess the potential and coach her into clarity of thought and creativity of planning, but she needs to take all the actions — internal and external.

The question of a goal being time-bound is partially answered when we test the size and the attainability of the goal.

So your salesperson needs to put aside an exact amount of P100,000 in 10 weeks. This is her personal goal. And, part of the work that needs to be done to attain this goal falls under your guidance and management. That is the part about her making connections with 20 new prospects every week. This is important to you as far as your client or your team’s performance is concerned.

Now, let’s move on to the “er” part in SMARTer goal setting. “er” stands for “Ecologically Right” goals. For goals to be SMARTer we need to consider the principles of congruence and ecology of systems.

By the SMART process of goal setting, we’ve covered the internal values and the external actions the goal setting salesperson needs to take towards congruency. The Ecologically Right parameter of goal setting means as the individual passionately and persistently chases after and achieves her goal, it should not cause stress, suffering or damage to herself, to her relationships and to all her systemic linkages.

For example, while chasing the goal of saving up P100,000 in 10 weeks, she takes up commuting rather than taking a cab or driving. This is physically challenging and exhausting for her. At the end of the 10 weeks, say she does save up P100,000 but gets ill and needs medical care. Say that medical care uses up P70,000 of her savings. Her goal was achieved but collateral damage has been done. Or, let us say she does not fall ill but her commuting takes up thrice as much time as taking a cab or driving and that time becomes quality time taken away from her loved ones and that strains her relationships. In both cases the goal set was SMART but not SMARTer.

The New Year is here and whether you are setting new goals for yourself or helping others move up in life, do not just think SMART but set SMARTer goals and change lives for good.

 

Raju Mandhyan author, coach and learning facilitator.

www.mandhyan.com

DTI seeks sugar imports for food industry to stay competitive

TRADE Secretary Ramon M. Lopez said the sugar regulator needs to allow the food industry that sells to domestic markets to import sugar if local sugar prices cannot match import prices for the sweetener.

“SRA (Sugar Regulatory Administration) assured us they’ll make available lower-priced sugar especially for exporters. Kailangan ma-include (They should include) competitive prices of sugar for food processors for the domestic market,” he told reporters after the Philippine Chamber of Agriculture and Food, Inc. general meeting on Saturday.

Mr. Lopez said food processors need to be able to purchase domestic refined sugar at P1,900 per bag, instead of the P2,500 or P3,000 they sometimes pay.

SRA reported that the millgate price of refined sugar rose 3.47% year-on-year to P1,514 per 50-kilo bag in the first week of December, while retail prices ranged from P45 to P50 per kilo, down from P54 to P62.

Mr. Lopez said that SRA must grant import permits to food processors if the buying price of domestic sugar remains above that price.

“The principle is, we prefer local supply. Pero (But) give it at this price. Kung hindi niyo mabigay (If you cannot offer it) at this price, allow them to import. So ibig sabihin (This means) the local suppliers will be compelled to sell at a competitive rate of P1,900 per bag.”

“The challenge to the sugar industry (is) how can you be competitive, increase productivity, modernize… so that your sugar price can (fall) below P2,000 at least,” he said at the meeting.

The Department of Finance in September formally proposed sugar import liberalization. The Confederation of Sugar Producers opposed the proposal to remove import restrictions, saying that doing so would damage the sugar industry. — Jenina P. Ibañez

DA sees RCEF boosting palay output after missing 2019 goal

THE Department of Agriculture (DA) has set its production target for palay, or unmilled rice, at 19.6 million metric tons (MT) for 2020, with production receiving a boost from seed distribution backed by the Rice Competitiveness Enhancement Fund (RCEF).

The DA’s 2019 estimate is 18.4 million MT worth of palay, well short of the 19 million target, subject to adjustment pending damage reports from calamities late in the year.

“For this year, our target is about 19.6 million MT,” Andrew B. Villacorta, assistant secretary for Operations, Agribusiness and Marketing, said in a news conference in Quezon City, noting that this estimate incorporates the shift by rice farmers to other crops due to the decline in palay prices.

He noted that RCEF, specifically the seed distribution component, will help producers meet the DA’s target.

“We see the effect of RCEF this dry season, yung pinapamigay natin ng mga binhi… and then papatong pa yung P3 billion for seeds for this year (we see the impact of seed distribution in the dry season… overall we expect P3 billion worth of seed for this year) so actually 19.6 million MT is a conservative estimate,” he said.

The DA through the Philippine Rice Research Institute (PhilRice) started the distribution of inbred rice seed to farmer beneficiaries in November 2019 for dry season 2019-2020, which will end April this year.

The P3-billion budget for seed distribution is one of the components of the P10-billion RCEF, which is funded by tariffs collected from rice imports. The program aims to reduce cost of production by half from the current P12 per kilo to narrow the competitiveness gap with imports. Yield per hectare is also expected to increase to 6 MT from 4 MT.

As of Dec. 23, 705,165 bags of seed were distributed to 471 of 985 targeted municipalities.

Mr. Villacorta said that the DA’s regular program, which is to promote the use of hybrid seed, will also help achieve the production target.

“We are targeting about 500,000 hectares for hybrid for this year,” he noted.

During the news conference, Agriculture Secretary William D. Dar said that the rice inventory at the end of 2019 was sufficient for 100 days’ consumption.

“At the end of 2019, ang inventory level natin sa rice ay nasa 100 days. Mayroon ka ng cover for three months. (At the end of last year, the rice inventory was good for 100 days, which means we have enough cover for three months) Rice is now available in the country in the warehouses of importers, plus the farmers, plus the households,” he said.

Mr. Dar also said that the imposition of safeguard duties to control imports is always an option. He noted that the department is currently studying the impact of imports on all stakeholders.

“There is an ongoing study… We are not (ruling out any options),” he said. — Vincent Mariel P. Galang

Fed officials expect resilient US economy even as risks persist

FEDERAL RESERVE officials downplayed concerns about the impact of geopolitical uncertainty on the US economy amid flaring tensions with Iran, even as a record of the central bank’s meeting last month showed that downside risks remain on their minds.

“That’s one of the great things about the US economy, is it does have this resiliency to it,” Cleveland Fed President Loretta Mester said Friday in an interview on Bloomberg Television. “Obviously we can’t know what is going to happen in the Middle East at this point, and it adds to the uncertainty surrounding things, but fundamentally, the economy is sound.”

Mr. Mester’s comments, coming from the sidelines of the annual American Economic Association meeting in San Diego, echoed those of her Chicago Fed counterpart Charles Evans, who spoke earlier in a Bloomberg TV interview.

Stocks fell Friday following news that the US had killed a top Iranian general in an airstrike in Baghdad, escalating tensions in the Middle East and sending oil prices soaring. In the US, a widely-followed gauge of business activity in the manufacturing sector published Friday unexpectedly dropped to the lowest level since 2009, signaling a worsening contraction.

“We’ve found that the economy can continue to grow even when manufacturing is contracting just a little bit, so I’m hopeful that we’ve got a really resilient economy at the moment,” Mr. Evans said.

The US unemployment rate ticked down to 3.5% in November, matching a half-century low, and has spent most of the last two years below 4%. Yet inflation remains under the Fed’s 2% target, as it’s been throughout most of the last decade, a development that’s confounded policy makers who expected a tighter job market would put more upward pressure on consumer prices.

Mr. Evans reiterated his call for keeping interest rates low for long enough to drive inflation above the Fed’s target.

“I think at this point in the cycle we really need to get inflation up to 2%, and above 2% somewhat,” Mr. Evans said.

Robert Kaplan, president of the Dallas Fed, said he’s not looking to adjust his forecast for economic growth in the US in 2020 based either on disappointing manufacturing numbers for December or the rising tensions between the US and Iran.

MATCHING OUTLOOK
Speaking in an interview in San Diego, Mr. Kaplan said the manufacturing data were “consistent with my outlook” for slowing global growth and sluggish business investment. Despite that he still expects strong US consumer spending to drive 2% to 2.25% growth this year.

While conceding that geopolitical tensions could hurt some financial markets, he took a measured view of the risks.

“A repricing of risk assets could be healthy,” Mr. Kaplan said. “What I would watch for is a severe tightening in financial conditions, particularly the availability and cost of money.” Kaplan said he thought the Fed should hold rates steady through 2020.

“That’s subject to change but I don’t see any reason to change that yet,” he said.

Minutes of the Fed’s Dec. 10-11 meeting released Friday showed that officials viewed monetary policy as likely to remain appropriate “for a time” amid what they saw as persistent downside risks.

Geopolitical threats were on that list, though the headwinds from trade tensions and a potential no-deal Brexit were judged to have receded, while policy makers remained concerned about inflation running below their 2% target.

Officials left rates unchanged at the meeting following three cuts in 2019 and signaled policy would stay on hold through 2020, keeping the central bank on the sidelines during a US presidential election year. — Bloomberg

CHEd enlisted to accredit last 15 colleges for free tuition

THE Senate Committee on Basic Education, Arts and Culture has asked the Commission on Higher Education (CHEd) to assist in the accreditation of 15 local government-run universities and colleges to make them eligible to offer free education.

Senator Sherwin T. Gatchalian, who chairs the panel, said the intent was expand the pool of student beneficiaries of the free-tuition law.

“Mahalaga ang papel ng mga lokal na pamantasan at mga kolehiyo upang gawing abot-kaya ang de-kalidad na edukasyon (Local government-run universities and colleges play a valuable role in making quality education attainable),” Mr. Gatchalian was quoted as saying in a statement Sunday.

“Ang layunin natin ay masigurong naipapatupad natin nang wasto ang batas upang makinabang dito ang bawat kabataang Filipino (The goal is to ensure proper implementation of the law to benefit all Filipino youth).”

Mr. Gatchalian was among the authors of Republic Act No. 10963, or the Universal Access to Quality Tertiary Education Act.

He noted that 76 local universities and colleges (LUCs) started offering free tuition and other educational subsidies since the law’s enactment in 2017.

Recently, the Commission signed an agreement with the Unified Student Financial System for Tertiary Education and 27 LUCs that will be offering free education for academic years 2019-2021.

This leaves 15 LUCs, which Mr. Gatchalian said CHEd should work with “to help them meet their prerequisites and become eligible to offer free tuition and subsidies.”

The law requires LUCs to comply with certain standards before they can offer free tuition. — Charmaine A. Tadalan

Premyo Bonds prize pool expanded after success of first issue

THE prize pool for the government’s retail-investor targeted Premyo Bonds has been expanded to P4.5 million every quarter from the initial P3 million, according to the Department of Finance (DoF).

“Because of the good reception of Premyo Bonds, the issue size was increased from the initial P3 billion to close to P5 billion, and the total prize pool was likewise increased from the initial P3 million to P4.5 million to be raffled out quarterly,” the DoF said in a statement Sunday.

Bondholders will be eligible for cash prizes of up to P1 million. The DoF said one winner per quarter will be awarded a raffle prize of the P1 million prize.

It said the prize pool will now consist of one winner of P1 million, 15 winners of P100,000 (from 10 winners previously) and 100 winners of P20,000 (from 50 winners) during each of the quarterly draws.

“From 61 winners, there will now be a total of 116 winners per draw,” it said.

The Bureau of the Treasury (BTr) raised P4.961 billion during its three-week offer period that ended in December from the issue of the one-year bonds, following oversubscriptions to the initial issue size of P3 billion.

National Treasurer Rosalia V. de Leon has said the agency will propose to Finance Secretary Carlos G. Dominguez III to continue with the Premyo bonds following the first issue’s strong reception.

Mr. Dominguez said in the statement that Premyo bonds will now be a “part of the government’s proactive financing strategy” supporting the government’s efforts to achieve financial inclusion.

The one-year bonds carry a 3% annual rate, payable quarterly.

Apart from the cash rewards, the DoF said the quarterly raffle prize pool will also include condominiums and a house, all net of taxes, fees and charges.

In the statement, it said more than 44% of total investments were valued at P5,000 and below, “indicating that the Premyo Bonds successfully reached retail investors.”

BTr said online investors were 13% more numerous and the value of investment 6% better than the performance of the 22nd issue of retail treasury bonds (RTB).

BTr said the offer expanded its retail investor base overseas with online orders received from 12 other countries.

“The Premyo Bonds were intended to build on the momentum from the recent issuances of Retail Treasury Bonds, or RTBs, in which we saw an increasing trend of participation from individual investors. By designing the Premyo Bonds to include a cash and non-cash reward (component), our aim was to entice more individuals and institutions to directly invest in government securities,” Ms. de Leon was quoted as saying in the statement.

As of Dec. 13, 2019, over 1,700 new bank accounts were opened, attributed to the Premyo bond offer, which contribute to financial inclusion “by encouraging unbanked Filipinos to start saving and investing,” BTr said.

The proceeds from the fund-raising activity have been added to the national government’s financing pool for health and educational programs, among others.

“By way of a proactive financial literacy campaign and enhancing access via over-the-counter and online channels, we hope to promote financial inclusion by educating investors not only about the economics of smart investing, but also about our individual roles as Filipinos in contributing to nation building by participating in government securities,” Ms. de Leon added. — Beatrice M. Laforga

Cotabato airport rehab to cost P2.6 billion

THE MOTHBALLED airport in M’lang, Cotabato will need at least P2.6 billion to rehabilitate and put into operation, according to the Mindanao Development Authority (MiNDA), citing an assessment from the Department of Transportation.

In a statement last week, MinDA chairman Emmanuel F. Piñol, who was Cotabato governor when construction of the Central Mindanao Airport Development Project was started in 2004, said the facility will provide a logistical boost to the agriculture sector in the SOCCSKSARGEN Region, which covers the provinces of South Cotabato, Cotabato, Sultan Kudarat, and Sarangani, and General Santos City.

“The airport, which has capability for commercial flights, is primarily intended to support transport of agricultural products from the region,” Mr. Piñol said.

President Rodrigo R. Duterte, who visited earthquake-affected areas in the province last week, issued a directive to work on bringing the airport back into operation.

The runway and terminal building were completed in 2010, but then governor Emmylou T. Mendoza shelved it, citing problems with the acquisition of the 62-hectare site for the airport, the lack of a feasibility study and environmental impact assessment, among other issues.

In a Jan. 3 post on her social media page, Ms. Mendoza, currently the vice-governor, said efforts were exerted during her governorship to fix the problems, but “the anomalies and irregularities affecting the acquisition of lands had brought the project to a standstill. This warranted the involvement of the different national government agencies with legal authority on the issues affecting the project.” — Carmelito Q. Francisco

DENR sets January ECC hearing for Cebu quarry

THE Department of Environment and Natural Resources (DENR) is set to conduct a public hearing for the Environmental Compliance Certificate (ECC) application of Cebu-based mining firm Citadel Mining Corp. (CMC) for its mine site in Danao City.

“Scheduled for public hearing this January… It will discuss impact and mitigating measures of the mining activities,” DENR Environmental Management Bureau (DENR- EMB) Director William P. Cuñado said in a phone interview.

In a notice, the EMB said a public hearing on the environmental impact statement (EIS) of the proposed Danao Pozzolan Mining Project of CMC is set on Jan. 17. The EIS of the project is currently being reviewed by the bureau.

“Pagkatapos doon sa public hearing, kung mai-submit na yung mga output nila, then mag-schedule ulit (After the public hearing, if the company submits the requirements, we will then schedule) a technical hearing,” Mr. Cuñado said.

The timeline will “depend on the project proponent’s compliance… we cannot dictate the compliance of the company,” he said.

The project is located at barangays Cabungahan, Manlayag, Sta. Rosa and Guinacot in Danao City. The site comprises 102.1 hectares out of the 336.3782 hectares covered by the mineral production sharing agreement (MPSA), which was awarded to the company on April 10, 2000.

The mining method for the proposed projects is surface mining through quarrying, with a mine life of 10 years. Pozzolan, a major raw material used in the production of cement, can be mined in the area, which will be supplied to clients like Republic Cement and Building Materials, Inc.

“CMC has not considered any alternative project site. For the mining method, given the nature of the deposit, the result of the initial feasibility conducted, drilling/geologic results and environmental considerations, the most suitable method of extraction is by open-cut quarry method,” the company said in its EIS.

The first year of implementation is the pre-construction stage which will involve technical design and finalization of quarry plans and construction of facilities, soil investigation, and securing of needed permits. In the second year, it has scheduled construction and site preparation, which will include site clearing, development of roads and drainage lines, and preparation of the loading pad and benches, among others.

Extraction of the mineral will also start by the second year, with activities to run for 10 years. At the end of the mine life, the company will rehabilitate the remaining mined-out areas and settling ponds, decommission of quarry ancillary facilities, implement social programs, and donate buildings to interested local government units. — Vincent Mariel P. Galang

Bidders invited for fish port rehab consulting services

THE Philippine Fisheries Development Authority (PFDA) is inviting bidders to offer consulting services for the rehabilitation of the Lucena City fishport, as well as the construction of fish ports in Davao and Iloilo.

In three separate notices, PFDA said it is soliciting expressions of interest and eligibility documents for potential consultants for the rehabilitation and improvement of the Lucena Fish Port Complex (LFPC).

The invitations also cover consulting on the upgrade of the Davao Fish Port Complex (DFPC) and Iloilo Fish Port Complex (IFPC).

The approved budgets for LFPC, DFPC, and IFPC are P26.994 million, P11.6 million, and P31.216 million, respectively.

The contract duration for DFPC is 26 months, while those for LFPC and IFPC is 38 months.

“Bids received in excess of the (approved budget) will be automatically rejected at the opening of the financial proposals,” it said in the notices.

According to PFDA’s website, LFPC was built on a 7.8-hectare reclaimed area at Barangay Dalahican, Lucena City in 1982, at a total cost of P283.976 million, which was funded by a loan from the Overseas Economic Cooperation fund of Japan. Its operations officially started in 1992.

Also funded by a loan from Japan, DFPC was constructed in 1993 in Barangay Daliao in Toril, Davao City, and was completed in 1995, at a total cost of P359.192 million.

IFPC is located in a 21-hectare reclaimed area in Barangay Tanza, Iloilo City.

“Bidding is restricted to Filipino citizens or sole proprietorships, cooperatives, and partnerships or organizations with at least 60% interest or outstanding capital stock belonging to citizens of the Philippines,” PFDA said.

The deadline for submission of eligibility documents for the Lucena project is Jan. 13. For the Davao and Iloilo projects, the deadlines are Jan. 15 and Jan. 17, respectively.

The BAC Secretariat will receive applications at PFDA in Diliman, Quezon City. — Vincent Mariel P. Galang

What rising Middle East tensions mean for oil market — analyst view

THE United States launched an air strike against a leading Iranian military commander on Friday, heightening fears of a conflict escalation in the Middle East that could hurt crude supplies in the region.

Iran promised vengeance after a US air strike in Baghdad killed, Tehran’s most prominent military commander and the architect of its growing influence in the Middle East.

Here is what analysts expect in terms of market response:

Ole Hansen, head of commodity strategy, Saxo Bank

• “Today’s US strike at the heart of the Iranian leadership signals a significant escalation. However, the price spike seen today has as opposed to the Aramco attack not been driven by a supply disruption.”

• “A price rise due to supply being disrupted as opposed to a demand driven spike carries the risk of sending prices sharply lower once the situation stabilizes.”

UBS

• “While neither the US nor Iran wish for an escalation in tensions, no one knows if, when, and how Iran will respond. Considering these risks, markets have added a risk premium on fears tensions could escalate.”

• “We assign a higher probability of renewed attacks on oil tankers, ships or/and energy infrastructure in the region than we do on the closure of the Strait of Hormuz, the Islamic Republic also relies on the strait for its crude exports.”

Jim Ritterbusch, president of Ritterbusch and Associates

• “The Middle East tensions are escalating at a time when oil supplies were already tightening in response to OPEC production cuts and rising expectations for oil demand improvement off of an expected Phase 1 trade deal.”

• “Iranian developments are apt to spur a strong bout of inventory accumulation throughout crude or (oil) product distribution chains.”

• “Increasing excess productive capacity in Saudi Arabia could act as a buffer if global oil supplies are disrupted appreciably.”

Paul Sheldon, chief geopolitical risk analyst, S&P Global Platts

• “The chances of a broader conflict remain below 50%, although risks are entering new territory.”

• “Iranian retaliation could take the form of a quick response by proxies against US allies and assets, but a larger response is likely to be more carefully calculated and indirect in an effort to avoid outright conflict.”

Andy Lipow, president of consultants Lipow Oil Associates

• “The oil market is trying to assess the probability that this leads to a supply disruption. Iran, which has already seen their exports cut to minimal volumes, they have little to lose in the way of crude oil exports.”

Carlo Alberto De Casa, chief analyst, ActivTrades

• “Oil’s reaction to the US attack on Iran is not a big surprise.”

• “The outlook for oil is very bullish with this latest geopolitical tension putting the supply side at risk.”

Edward Moya, senior market analyst at OANDA

• “Oil prices are skyrocketing as fears escalate that the Middle East region is about to see intensifying conflict in the region that could eventually end up in war.”

• “Killing of a top Iranian commander is likely just the beginning of market moving responses.”

Benjamin Lu, analyst at Phillip Futures

• “Heightened militaristic actions will generate a risk premium for oil prices as traders deliberate escalating tensions in the Middle East.”

• “Oil prices look poised to trade higher as markets look towards tighter supply levels and looming geopolitical concerns.” — Reuters

Making a difference, one ripple at a time

As a new decade begins, we reflect upon the year that just passed and look forward to what may be in store for us in 2020 and beyond.

In his article before Christmas — and his last as SGV’s Country Managing Partner — J. Carlitos G. Cruz described how an organization can sustain its purpose for the long term to ensure that its people and culture remain steadfast. In line with SGV’s efforts to sustain our collective purpose to nurture leaders and enable businesses for a better Philippines, we have successfully launched the new EY Ripples program.

EY Ripples was introduced by EY Global in late 2019 as a global corporate social responsibility program aimed to drive long-term value for EY clients, people, and the community at large. This multi-year journey is committed to create a greater social impact on the lives of others with the use of the skills, knowledge and experience of EY employees. As one of the early adopters along with the EY member firms in Indonesia, Malaysia, and Singapore, SGV focused on making a difference in two ways: supporting the next generation workforce and engaging impact entrepreneurs.

NURTURING FUTURE LEADERS
EY Ripples encourages programs on mentoring and coaching the next generation, the young future leaders between the ages of 10 and 18 who will become tomorrow’s aspiring workforce. SGV volunteers interacted with students as young as 5th graders from public and private schools in Malabon, Manila, Muntinlupa, Makati and Quezon City. The students learned about the basics of entrepreneurship and finance through workshop sessions. This was done in collaboration with Junior Achievement Philippines (JAPI), a non-profit organization created to help young people succeed professionally and personally.

SGV volunteers all underwent teaching workshops to provide them with basic classroom skills. Their mandate was to help inspire the students with knowledge about the basics of entrepreneurship and financial literacy. The SGV mentors shared the importance of earning, spending, and saving money. They encouraged young students to explore and enhance their career aspirations. Through the use of critical thinking, students were coached to develop a positive attitude in exploring businesses or careers.

One SGV volunteer recounted how it was a great experience for her to witness the children’s eyes spark with interest during the talk on the value of money. It made her realize how something so simple might just be one of the ways for us to help Filipino families improve their lives.

Besides the schools identified by JAPI, there were other occasions that allowed SGV volunteers to work with young students. These were mainly students sponsored by non-profit organizations. They were introduced to the basics of financial literacy through Supporting the Next Generation workshop modules developed by EY and localized to suit Filipino elementary school children. SGV Christmas outreach programs doubled as learning opportunities with volunteers who taught them the value of money, distinguishing between needs and wants while reiterating the importance of earning and saving. The modules included talks, games and fun activities.

BUILDING A BETTER WORKING WORLD
EY Ripples also focuses on helping impact entrepreneurs through business clinics to help scale small, growing businesses through seminars and group mentorship. These entrepreneurs differ from other business owners through the positive social change that they generate, as well as the potential to expand that change as they scale. They may occasionally be referred to as social entrepreneurs.

SGV held the first EY Ripples business clinic in the Asia-Pacific region, co-organized with Endeavor Philippines, a non-profit organization that aims to build a strong entrepreneurial ecosystem within the country. SGV has had a sound relationship with Endeavor Philippines ever since it was established in the country. Working together on the EY Ripples program was a natural next step for both organizations.

Endeavor Philippines helped us identify start-up or small business entrepreneurs from the FinTech, production and services, and business process outsourcing industries. These entrepreneurs were looking for practical training and guidance on how to navigate Philippine business requirements and regulations.

SGV partners and senior managers became mentors, sharing practical knowledge and skills in tax and financial planning. Sessions on financing, investment options and methods, as well as Philippine taxation, were conducted with the goal of helping the entrepreneurs accelerate their growth and become more responsible players in the economy.

A DECADE OF RENEWED PURPOSE
The new decade presents limitless opportunities not only for business but more importantly, for ways to make a difference in the lives of others. We are looking ahead at how we can create more ripples in the next 10 years. More than 1 million people from across EY member firms and their communities will be globally mobilized through EY Ripples.

In other parts of the world, EY is laying the foundation to achieve its bold ambition through relationships with impact investors and non-government organizations such as Junior Achievement Worldwide and Acumen. In 2020, some 6,000 EY professionals in the Middle East and North Africa are committed to dedicate at least one work day a year to collectively help advance sustainable inclusive growth in their respective regions.

Collaborative initiatives have also been forged with the World Bank, which joined EY in committing to positively affect the lives of 10 million people by 2022. There is also a linkage with TRANSFORM, an initiative founded by Unilever and the UK Department for International Development (DFID) that offers to scale EY support for impact entrepreneurs and help 100 million low-income people in Asia and Africa gain access to vital goods and services by 2025.

It is an ambitious program with a collective goal of making a positive impact on the lives of 1 billion people by 2030. We believe it is possible even if it takes us one ripple at a time.

In this transformative age of digital — with new knowledge, skills and tools available at our disposal and with people dedicated to our purpose — we are committed to assume a leadership role in communities using the best of our abilities to nurture future leaders and enable impact entrepreneurs to build a better Philippines that, in turn, would create ripples to help build a better working world.

I wish to take this opportunity to wish our readers a New Year and a new decade full of promise and possibilities.

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Wilson P. Tan is the Country Managing Partner of SGV & Co.

Bolts, Kings to let game speak come the finals

By Michael Angelo S. Murillo
Senior Reporter

FIGHTING in a Philippine Basketball Association finals for the third time in the last four years, the Meralco Bolts and Barangay Ginebra San Miguel Kings are not putting much on talk and instead are bent on letting their game speak for themselves when their best-of-seven championship series rolls off tomorrow.

In the finals of the season-ending PBA tournament Governors’ Cup for a third time, the Bolts and Kings have expressed their determination to see their respective causes through and put the finishing touches on what has been a solid run for them in the conference.

Lost in their first two finals encounters with the Kings — 2016 and 2017 — the Bolts are not letting the thought consume them and are now concentrating at the task at hand.

“We are out to win just like they are. We want to win the championship. We have had a good conference. We tell the players that if you want to win the championship you have to play good basketball. Offensively and defensively we have to be prepared,” said Meralco coach Norman Black at the press conference for the finals at the weekend at a restaurant in Quezon City.

“I can’t worry about the past because it’s over and done with but I can worry about the future and concentrate on the task at hand and win the championship,” he added.

The Bolts were the second-seeded team entering the playoffs with a record of 8-3. They eliminated the Alaska Aces in the quarterfinals, seeing no need to use their twice-to-beat advantage. In the semifinals, Meralco was challenged by the TNT KaTropa but eventually outlasted the latter in five games.

Over at the Kings’ camp, the team is also all on playing the best basketball they can so as to return to the top of the Governors’ Cup after missing out on a third straight title in the tournament last season.

“It is just all about playing great basketball. That as coaches is what we are trying to preach. Meralco is the best defensive team this conference and best rebounding team. Those are some of the things we are trying to figure out,” said Barangay Ginebra coach Tim Cone.

The Kings’ coach also underscored that apart from the Bolts having an amped-up roster from those they encountered previously in the finals, they are going up against a highly motivated squad with their chops sharpened on the road to the finals.

“They went through Talk N Text and that really toughened them. They are hungry after losing our first two encounters in the finals and we’ll just have to do our best [against that],” Mr. Cone added.

The Kings was the number four team at the end of the elimination round before ousting the Grand Slam-seeking San Miguel Beermen in the quarterfinals. They started on the wrong foot in their best-of-five semifinals with the Northport Batang Pier but finished strong as the series progressed, closing things in four games.

Game One of the PBA Governors Cup finals is set for 7 p.m. at the Smart Araneta Coliseum.

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