MICROSOFT CORP said one of its studies has found that most employers believe Artificial Intelligence (AI) will have a positive effect on productivity, though less than half have started to plan for the more widespread use of AI.
Microsoft, in collaboration with International Data Corp. (IDC), reported that the study Future-Ready Business: Assessing Asia Pacific’s Growth Potential Through AI had 74% of respondents agreeing that AI will help them perform their existing jobs better or reduce repetitive tasks.
Microsoft Solutions Specialist for Data and AI Solutions Jek D. Hermida said both businesses and employees surveyed expressed no fear of AI displacing workers.
“If you look at this study, leaders and workers alike believe that AI will augment and not replace jobs,” she said, adding that it will enable employees and businesses to become more efficient.
During the launch of the study on Thursday, Microsoft Asia Pacific Enterprises and Partners Group General Manager Ricky Kapur said: “AI brings with it the promise of (not just) being able to help companies transform but also brings with it the promise of being able to help companies create more productivity, more growth, more innovation… It helps companies compete at the global stage.”
Microsoft said that only 45% of Philippine organizations have started their transition to AI. This percentage consists of 35% of those who started to experiment with AI and 10% who have made AI part of their core business functions.
Of those that have yet to begin AI initiatives, IDC Philippines Head of Operations Randy Roberts said, “24% haven’t done anything yet in terms of the AI strategy and the second group is 31% who are waiting to see what happens with AI (and) where the value is.”
For those who have implemented AI, the top business driver is to improve customer engagement (27%). Other top drivers are innovation (24%); the need to be more competitive (16%); improve productivity (10%); and raise margins (8%). — Gillian M. Cortez
SECURITY BANK Corp. expects its loan portfolio to grow 13-15% this year driven by the sustainable double-digit expansion of its retail lending book.
In a press conference on Thursday, Security Bank President and Chief Executive Officer Alfonso L. Salcedo, Jr. said the commercial bank is expecting its loan book to grow 13-15% in 2019, in line with industry’s loan expansion this year and coming from a 12% growth in 2018.
“A lot depends on how the developments would go. From the trade war, how oil behaves, how inflation behaves, but it will be somewhere around there. Personally, if I were to bet, maybe around 13-15%. For Security Bank, we also see our loan growth to be somewhere around there,” Mr. Salcedo said.
He added that he sees the retail lending book of Security Bank sustaining its 40% growth this year from the 2018 level on the back of robust economic growth, which is likely to grow “north of 6%.”
Security Bank chief economist Robert Dan J. Roces sees the Philippine economy growing 6.4% this year, although this may change as they await further developments on the impasse of the 2019 national budget.
“We haven’t covered the market the way we want to. In a way, it’s still [in its] early days. That’s where my source of comfort [comes from] that we will be able to sustain 40%+, and hopefully 50%+ retail growth over a couple of years,” Mr. Salcedo said.
In particular, the bank president said personal loans, SME lending and credit card businesses are in its “early days” and seen to expand further this year.
For the bank’s wholesale loans, Mr. Salcedo is hopeful that these will post double-digit growth this year after a 7% pace in 2018, coming from high-teens growth rates seen the previous years.
“That slowdown, as open as I can be, was not demand-driven. The demand was there. We were selective in the loans we would give in terms of pricing. We walked away from loan transactions wherein loan rates were below risk-free rates. It doesn’t makes sense to lend or lose money that even eat up your capital.”
Moving forward, Mr. Salcedo said he is happy with the trajectory of Security Bank’s loan growth as its retail portfolio accounted for 20% of its total business in 2018 from being” basically non-existent” five years ago.
He added that the bank is looking at offering long-term negotiable certificates of deposit as well as peso-denominated bonds in the second half of the year.
Security Bank booked a net profit of P8.6 billion in 2018, down 16% from a year ago.
Its shares closed at P172.90 apiece on Thursday, up 20 centavos or 0.12%. — Karl Angelo N. Vidal
By Michelle Anne P. Soliman Reporter
IN NOVEMBER 1996, Georgia left her home while the children were sleeping one evening. With only P20 (about four US cents) she traveled with her husband to the airport. She was scheduled to take a flight to Singapore to become a domestic worker.
“She was staying there as a tourist as she waited for the employment agency to find work for her. This was illegal. But she was willing to take the risk. Two years later, Georgia left Singapore and came to Hong Kong where she has since continued to work as a domestic helper,” Xyza Bacani, the eldest of her three children, wrote. “She saw her children once every two years when she came home on vacation. Her children grew up without a mother. She only got to know them through brief visits, phone calls, and photographs.”
Georgia is one of 2.3 million overseas Filipino workers (OFWs) who have left their families in their home country to earn more overseas by serving other people and their families.
In 2006, Ms. Bacani followed her mother’s footsteps and became a domestic worker in Hong Kong. With a loan from her employer, she pursued her passion for photography upon purchasing her first digital single-lens reflex camera. She would roam the streets of Hong Kong alone and cautiously take photos of strangers, as well as images of activities by migrant workers.
“I’m like a ninja photographing other people in their most intimate moments when they think no one is watching,” she told BusinessWorld.
Since making a name in photography, Ms. Bacani has been recognized as one of the BBC’s 100 Women of the World for 2015, and Forbes 30 Under 30 Asia in 2016. On the evening of March 13, she told stories of Filipino migrant workers in Hong Kong through her black and white photographs, displayed at the Ayala Museum souvenir shop. UNTOLD STORIES IN PHOTOGRAPHS
In the book We Are Like Air, Ms. Bacani focuses on the lives of various Filipinos migrant workers including the story of her family, and its effects on their families. The compilation of photographs was take between 2013 and 2018. It also includes personal letters between the author and her family. The book is written in English, Filipino, and Chinese.
According to the Philippine Statistics Authority (PSA) in a 2017 survey, 59% of overseas Filipino workers were engaged in elementary occupations such as domestic work and hotel and office cleaning; 6.5% are deployed in Hong Kong.
“I want to spotlight the story with these women rather than have the spotlight on me,” Ms. Bacani told BusinessWorld.
“This is the story of different families connected by migration,” she added citing an example from her book of a woman who was taken care of by a Filipina since she was four. The same nanny, after taking time off, came back to serve the same woman when she had her own child.
“These are stories we don’t hear all the time. That’s why I think it’s important that we write them. It’s important that we celebrate things that are happening in real life, especially since it’s actually possible for people who are from two different worlds to connect, despite all the differences.”
Ms. Bacani likens the value of Filipino migrant workers to air. “I strongly believe that migrant workers are like air,” she told the press, citing that they are “important, a necessity for every society to survive, but unseen.”
The 32-year-old domestic worker turned freelance photographer hopes her book will have an impact on the children of migrant workers and their families.
“We forget to celebrate the women who are with us every day, serving our families, and serving other people’s children, and still serving their children in the Philippines.”
“We need to stop treating them as victims all the time. They’re champions. Champions of their own families, and champions of the families serve,” she said. We Are Like Air is priced at P2,500. For more information and orders, visit http://we-press.com/xyza/.
Shoplifters (Manbiki Kazoku) Directed by Hirokazu Kore-eda
HIROKAZU KORE-EDA’s latest film Shoplifters (Manbiki Kazoku, 2018) begins with as unremarkable an opening as possible: a father and his son enter a grocery, split up to walk down separate aisles. Only father and son keep throwing each other sidelong glances and hand signals; only son does a little finger twiddle that we’ll see from time to time; only when a clerk working nearby glances at son, the father walks up to block the clerk’s view while the son drops several packets of instant ramen into his backpack. Graceful bit of choreography, made casual by long practice, understated yet captivating in its intricacy.
A beguiling beginning for what turns out to be a beguiling film, about a family that practices one kind of scam after another. Osamu Shibata (Lily Franky) is a day laborer, teaches his son Shota Shibata (Kairi Jo) how to boost store items on the side; his wife Nobuyo Shibata (Sakura Ando) works at a laundry where she purloins trinkets left in clients’ pockets; Nobuyo’s sister Aki Shibata (Mayu Matsuoka) works at a club, where she strips through one-way glass; their grandmother Hatsue Shibata (Kirin Kiki in one of her final roles, sadly passed away last year) collects a pension from her dead husband and occasionally visits her husband’s second wife’s son — Aki’s parents, as it turns out — for the occasional monetary handout.
Enter Yuri (Miyu Sasaki); Osamu and Shota find her playing in her apartment’s balcony, possibly not for the first time; because it’s a cold night they offer her a croquette and invite her home. Yuri is busy munching a second croquette when Hatsue examines her arm, spots a bruise: “What happened here?” “I fell.” Hatsue checks further: she’s covered in scars. Osamu and Nobuyo look at each other. “Let’s take her home before the cops get here,” Nobuyo says, but when she and Osamu carry the child back they hear (standing outside the apartment) her parents yelling at each other for losing the child. “I didn’t want to have her either!” the unseen mother screams. “That hurts!”
Aki raises the possibility that keeping Yuri constitutes kidnapping; Nobuyo points out that they aren’t asking for a ransom, so — no. The family is actually quite practiced at rationalizing; when Shota asks about their shoplifting Osamu explains that if no one has bought the items and the store doesn’t go bankrupt then the goods are free for the taking and it isn’t stealing. Not really.
The next hour or so Kore-eda shows us the family at work, at play, at the everyday business of living, which grows gradually more difficult by the day. Yuri (now renamed Lin and sporting a shorter ‘do, to escape detection) wets the bed; Nobuyo grumpily gathers the soiled sheets while Lin repeatedly and not a little desperately apologizes (both the bedwetting and manner of apology yet more classic signs of abuse). Osamu is injured at work and can’t collect a paycheck for a month; Nobuyo is eventually laid off at the laundry.
Shota takes Lin shoplifting; the owner calls to them and chides Shota: he shouldn’t be teaching his sister to steal, the old man says, giving them both treats as a bribe and warning. Shota reports the incident to Osamu who sidesteps the issue: “of course it’s too early for Lin…”
It isn’t all downward spiral; the family goes off to a beach and enjoys a day of sun and beach and waves. Nobuyo sits on the sand next to Hatsue, munching on spiced corn on the cob (the folks, for all their hardships, are constantly snacking — at one point slurp up a big pot of ramen cooked in meat broth, Chinese cabbage [“good for you”], and sticky-brown gluten cakes substituting for more expensive meat [“Oishi?” Lin is asked when chewing on a thickly dripping cake; she nods solemn assent]). Mother watches Aki play with Lin: “It’s not going to last long,” Hatsue says. “Sometimes it’s better to choose your own family,” Nobuyo says. “If only not to have expectations,” Hatsue replies.
The words resonate through the film’s latter half as (in line with Hatsue’s dark warning) everything goes up in smoke (skip the next four paragraphs if you intend to watch!).
Shota is injured during a shoplifting attempt and the family rounded up; suddenly the bright light of society is shone upon this few, this happy few, this band of burglars: Nobuyo and Osamu aren’t really married, Shota isn’t really their child, Hatsue isn’t really their grandmother. The family has apparently been cobbled together from filched parts like much of their diet, and when interrogated — in nonjudgmental manner, never a raised voice or harsh tone — Osamu and especially Nobuyo can only either stammer or hang their heads in shame. “But Yuri was being abused!” one thinks; “that’s justification for taking her, right?” Difficult to think straight when your entire life is under a microscope, being picked apart by tweezers. Possibly either ‘parent’ did mention that fact but Kore-eda refrains from including that moment because it’s beside the film’s true point — not “how bad are other families are compared to our own?” but “how real is a family when it has no blood ties? When it’s founded on kidnapping and fraud and maintained by petty crimes?”
More damning is the fact that when push came to shove, survival came first: the moment word arrived of Shota’s arrest the “family” quickly packed up to flee, in effect abandoning the boy. Later Shota asks Osamu about it — a crucial moment, where one member of the family is about to pass judgment (as opposed to general society, in newspapers and the evening news, for the past few weeks) on another member of that family. For the first time the man is direct with the boy, possibly because Shota has learned so much about Osamu’s deceptions and he knows it. The scene plays with little fuss, arguably the quietest, plainest moment in Kore-eda’s quiet little film, but the point slides home like an icepick: Osamu, in ending any possibility of becoming father to the boy, is acting like a real father to Shota.
A witheringly powerful last third, helped in no small part by Kore-eda’s matter of fact, almost documentary-like manner in recording both revelations and the couple’s reactions (Osamu and Nobuyo shot head-on, no music, the camera locked down and waiting impassively as they search long and hard inside themselves for the nonexistent correct answers). Under the heat of the interrogation lamp the Shibata’s charming oddball life withers into something ludicrous and lurid, an in effect crime family abducting children, sponging off society’s leftovers, burying evidence of their offenses literally under the house they live in.
And yet, and yet, and yet — you remember how Nobuyo, at the point of returning Yuri, listens to the parents’ screams and tightens her grip round the child; you remember her hugging Lin and explaining “This is what someone does when they love you.” You remember the huge pot of ramen, the day at the beach, the way everyone wept when Hatsue failed to wake from her sleep. Nobuyo, of all people, believed: “Sometimes it’s better to choose,” she said, acknowledging that things never last and yet one needs to make a choice anyway, despite everything.
I don’t think Kore-eda (despite the assertion of some critics) definitively picks one side over another on the issue. The family’s time together, for all its joy and scrumptious food, was a fairy tale; it needed the scrutiny of others to temper that tale, bake solid what can be baked, dissipate what can’t last. The family coming out the other side ultimately fractures, but what’s left at least has the possibility of forming something more enduring. Plus, each member has the memory of what was, the notion of what might have been, the dream of what could still be.
KHARTOUM — The Sudanese government will make 2.13 billion euros ($2.44 billion) over a 20-year period from a deal with Philippine port operator International Container Terminal Services, Inc. (ICTSI) to expand port capacity, a government official said.
The deal aims to more than triple capacity at Port Sudan’s South Port Container Terminal, Ali Ahmed Abdelrahim, head of a technical committee in charge of contracting the project, told reporters on Wednesday.
The 20-year contract will see ICTSI operate, manage and develop the port, the company said last month, with the handover expected to be completed by the end of March.
Sudan has received 410 million euros from ICTSI out of a 530 million euro downpayment, Mr. Abdelrahim said.
This is the first time a Sudanese official has publicly acknowledged the deal, which was signed on Jan. 3.
The port’s workers staged a strike last month “to refuse the privatization…to protect the country’s resources,” the head of an opposition trade union said at the time.
Sudan’s President Omar al-Bashir, who is facing the most significant street challenges of his 30-year rule, said last month that Sudan would look into the contract to ensure that it was a fair contract for the Sudanese people.
ICTSI said in a statement sent to Reuters last month that local stakeholders’ concerns were being addressed by Sudan Port Corporation and the Government of Sudan.
Eighty-five percent of all goods imported to Sudan come through the South Port Container Terminal.
The government expects the port to generate 3.339 billion euros in revenue over the contract’s 20-year duration, Mr. Abdelrahim said. Sudan’s share will be 2.13 billion euros and ICTSI will take the remainder. The port makes 91 million euros annually, he added.
The government aims to raise the port’s capacity from handling 480,000 containers a year to 1.5 million.
The second highest bidder in the tender was the UAE’s Dubai Ports, Abdelrahim said.
The contract with ICTSI stipulates that no container ports are to be built in Sudan for seven years, Abdelrahim said. — Reuters
PHILIPPINE BUSINESS Bank (PBB) is set to raise P10 billion through peso-denominated bonds to fund its business operations.
In a regulatory filing, the Yao-led lender said it will issue P10 billion worth of peso-denominated bonds.
The additional capital to be raised via the issuance will be used for “general corporate purposes,” the bank added.
PBB Chief Executive Officer Rolando R. Avante said via text that the savings lender plans to initially offer P3 billion, which will constitute the first tranche of its P10-billion bond program.
“We’re in the final planning stage [already]. Timing of the issue will be market situation dependent,” Mr. Avante told BusinessWorld yesterday.
The savings bank is one of the lenders that recently tapped the local bond market after the Bangko Sentral ng Pilipinas (BSP) relaxed its rules on banks’ fundraising activities.
Circular No. 1010 issued by the central bank in August 2018 simplifies the process for lenders looking to raise funds via bonds, doing away with having to secure approval from them.
The reform is part of streamlined rules meant to deepen capital markets.
Last year, PBB announced it is looking at raising up to P10 billion in long-term negotiable certificates of deposit, which will allow the bank to “capitalize on attractive lending opportunities as the Philippine economy continues to expand.”
When sought for comment, Mr. Avante said the LTNCD issuance will “depend if the market condition warrants and a need arises.”
Earlier this year, PBB said its merger with Insular Savers Bank, Inc. (A Rural Bank) is expected to be completed before June 30, subject to the approval of the Securities and Exchange Commission.
PBB posted a P262.09-million net income in the third quarter of 2018, up 162.1% from the previous year, boosted by the robust growth of its core businesses.
Shares in PBB closed unchanged at P13.86 each on Thursday. — Karl Angelo N. Vidal
DEUTSCHE BANK AG’s merger talks with Commerzbank AG have put its 10,000 U.S. workers on edge, three employees told Reuters, with some concerned a deal could pressure Deutsche to further shrink or even dispose of its U.S. businesses.
The future of the bank’s U.S. trading and investment banking presence had already been in question, with some shareholders calling for further cuts on top of ones announced last year, and speculation has intensified following confirmation of the merger talks on Sunday.
The German government, which has a 15 percent stake in Commerzbank, is expected to retain a stake in the combined business if a deal materializes. Some employees fear that could pressure the bank to focus on its home market.
Both banks have cautioned that the outcome of the talks remains uncertain, and the process could drag on for months. In the meantime key employees could decamp to rival Wall Street banks and hedge funds, further weakening a business that has under performed for years. Several executives have left the bank’s U.S. operations in recent months.
“We don’t know what’s going on. Everything is up in the air,” said one senior employee within the bank’s U.S. equity sales business, who asked not to be named because of the sensitivity of the matter.
Chief Executive Christian Sewing reiterated in a memo to staff on Sunday that Deutsche aimed to remain a “global bank with a strong capital markets business,” and a source familiar with the matter said the merger would not change the bank’s commitment to a strong U.S. presence.
Deutsche Bank declined to comment on Wednesday.
German finance minister Olaf Scholz, reportedly a proponent of the merger, has previously stressed the need for Germany’s banking sector to support German companies who want to go abroad to export.
After the 2007-2009 financial crisis, Deutsche maintained a large presence on Wall Street, even as European rivals like Credit Suisse Group AG made big cuts to U.S. investment banking operations.
Deutsche Bank’s U.S. business has brought in around half of revenue for its overall investment banking unit, which includes corporate and investment banking as well as trading, even though it came with a relatively high cost of capital
However, encumbered by litigation and regulatory investigations into past misconduct, the business has struggled to compete with Wall Street rivals.
Deutsche had said last May that it would reduce its global headcount to well below 90,000 from 97,000. That included a 25 percent cut in equities sales and trading jobs, a significant number of which were in New York, where it has lagged rivals.
Cutting more jobs in the United States would not provoke the same political pushback that the two banks would face if they axe jobs in Germany, banking analysts say. PAY CONCERNS
Even if Deutsche Bank keeps its U.S. operations largely intact following a Commerzbank deal, some staff fear pay and bonuses would decline because the combined entity would face a backlash from German taxpayers if its remuneration was seen as excessive.
Commerzbank, which is focused on personal and commercial lending, typically pays its staff less than Deutsche Bank. If the German government were to retain a stake in a combined entity, lawmakers would likely argue that it should keep a tight rein on pay.
Traders at Deutsche Bank’s U.S. equities business have already felt a squeeze, with some receiving substantially smaller bonuses for 2018, the sources said.
That has contributed to a decline in morale, which has been exacerbated by the departure of senior staff including Brad Kurtzman, co-head of equities trading in the Americas, who is leaving at the end of this month, the sources said.
A recent focus on recruiting college graduates, held up by senior management as an affirmation of the bank’s long-term commitment to the trading division, has done little to quell concern, they added.
One employee, who asked not to be named, said further defections are considered likely as staff look to pre-empt further cuts should the Commerzbank deal go through. — Reuters
7 films to see on the week of March 22 — March 28, 2019
Drunk Parents
UPPER-CLASS couple Frank and Nancy Teagarten are dropping their daughter off for her first day in college when a repo man visits them and leaves them struggling to make ends meet. Wanting to get their daughter through college, they mount a yard sale accompanied by a late night of heavy drinking which leads to some regretable decisions as they try to hide their deteriorating net worth from family and friends. Directed by Fred Wolf, the film stars Salma Hayek, Alec Baldwin, Joe Manganiello, and Bridget Moynahan. MTRCB Rating: R-13
Five Feet Apart
SUFFERING from cystic fibrosis, 17-year-old Stella’s life is full of routines and boundaries. Then she meets Will, a fellow CF patient who rebels against restrictions of his ongoing medical treatment and Stella tries to inspire Will to live to the fullest. Directed by Justin Baldoni, the film stars Haley Lu Richardson, Cole Sprouse, and Moises Arias. CNN’s Brian Lowry writes, “There’s an undeniable poignance in the concept of young people living with the specter of death constantly at their shoulders, making it impossible to be ‘normal’ kids.” MTRCB Rating: R-13
Us
A GROUP of doppelgangers begin to terrorize a family. Directed by Jordan Peele, the film stars Lupita Nyong’o, Elisabeth Moss, Evan Alex, and Winston Duke. The Atlantic’s David Sims writes, “Peele has such a gift for generating terror through blocking and simple camera movements that he never has to rely on lame jump scares to rack up the tension. The members of the faux-Wilson family, who refer to themselves as ‘the tethered,’ all have a defined personality, petrifying their respective doubles in ways that feel like eerie echoes.” MTRCB Rating: R-16
Take Point
CAPTAIN AHAB and his team of mercenaries are on a CIA mission to abduct North Korea’s Armed Forces Minister, but are caught in some crossfire. The tensions may lead to the brink of World War III. Directed by Byung-woo Kim, this South Korean film stars Jung-woo Ha, Sun-kyun Lee, and Jennifer Ehle. “From the convoluted set-up to its preposterous finale, Kim Byung-woo’s political action thriller defies logic and comprehension at every turn,” writes James Marsh of the South China Morning Post. MTRCB Rating: R-13
Homestay
MIN is given a chance to change his life after he gets to live in another person’s body. Directed by Parkpoom Wongpoom, this Thai film stars Teeradon Supapunpinyo, Cherprang Areekul, and Nopachai Jayanama. “Homestay is impeded — much like its protagonist — by a lack of self-confidence; it could have excelled with a little more faith in its strengths, which are eye-catching,” writes James Marsh of the South China Morning Post. MTRCB Rating: PG
Papa Pogi
BEING followed and swooned over by women seems to be a problem for an odd-looking guy. Directed by Alex Calleja, the film stars Teddy Corpuz, Myrtle Sarrosa, and Donna Cariaga. MTRCB Rating: PG
Pansamantagal
A MIDDLE-AGED woman goes to a resort to get away from her problems. There she gets acquainted with Leo and they spend the rest of their stay together. Directed by Joven Tan, the film stars Gelli De Belen, Bayani Agbayani, and Chacha Balba. MTRCB Rating: R-16
THE ENTERPRISE business of PLDT, Inc. has been tapped by local company GritXL to provide broadband connection for the latter’s building in Morong, Rizal.
In a statement on Wednesday, PLDT Enterprise said the partnership is geared to help the municipality of Morong support information communication technology (ICT) and business process outsourcing (BPO) companies, as well as small enterprises in the area.
“Developing next-wave cities such as Morong is aligned with our mission and that of GritXL to prop up MSMEs (micro-, small- and medium-sized enterprises) and equip them with tools that will allow them to bring their businesses to all-new heights,” PLDT Head of SME Nation Albert Mitchell L. Locsin was quoted as saying.
“Our goal, in keeping with the government’s direction of countryside development, is to make GritXL the innovation center that will help the people and the local government of Morong,” he added.
GritXL is the first BPO-grade establishment in Morong.
In in its website, the company said it offers services such as consulting, leasing, knowledge process outsourcing and an innovation lab.
“What we share with the PLDT team is the vision of GritXL of creating innovative solutions and pushing for borderless growth for Morong, Rizal. The dream of GritXL will not happen without technology, and most importantly, without connectivity,” GritXL founder and president Myla Reyes was quoted as saying.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Denise A. Valdez
In the last episode of the Game of Thrones’ penultimate season, Cersei demands that Jon Snow remains neutral between the queens, but Jon affirms he has already sworn himself to Daenerys. This led to initial collapse of the talks. Jon was asked why he could not lie to achieve the negotiation’s objective. And Jon Snow responds about the importance of honesty and integrity.
Of course this is fiction, but how many will go to extra lengths — meaning to lie — to achieve a personal goal, especially in the workplace? “The ends justify the means” appears to have been accepted as a norm. Even in present day Philippine politics, the concept of honesty as a prerequisite for the country’s leaders has hogged the headlines. This piece will dare not dwell on that issue but will share a personal realization. After all is said and done, one’s reputation of integrity is a treasure worth keeping.
After 40 years in the workplace, I can relate to an article written by Amy Rees Anderson for Forbes. “Success will come and go, but integrity is forever. Integrity means doing the right thing at all times in all circumstances, whether or not anyone is watching. It takes having the courage to do the right thing, no matter what the consequences will be. Building a reputation of integrity takes years, but it only takes a second to lose,” she says in the article.
In the same article, she quotes Warren Buffet of Berkshire Hathaway: “In looking for people to hire, look for three qualities: integrity, intelligence and energy. If they don’t have the first one, the other two will kill you.” A person’s dishonesty will eventually catch up to them. Dishonest actions will eventually be uncovered. The risk of getting ahead for a short period of time is incomparable to its lasting consequences.
Times might have changed and honesty is an unpopular route today, yet one fact still remains — one’s reputation for honesty affects life’s success whether one is aware of it or not. In business, there is a term called “integrity edge” pertaining to trust generated over time by companies resulting to good business relationship or client loyalty. As individuals, living honestly means self-respect, peace of mind, family happiness, and a good relationship with God.
Allow me to share a few personal experiences. As former head of one agency involved in small business development, we were approached several times with proposals to be conduits for the Priority Development Assistance Funds. The proposals were, on the surface, noble, but the idea of passing through political hands hinted of possible compromise in beneficiary selection. We wanted to enlarge the small fund we had to support small businesses, but we were worried our process would be subject to trade-offs. A few years later, the rightfulness of our decision was validated by the scandals that transpired.
In another professional situation, I was at one time asked to head the procurement of an important but expensive process. It was a systems project beyond my established competence and for this very reason, I declined. Honesty also means accepting one’s limitations even if the potential glory of leading a successful innovation in the organization was tempting.
Standing up for integrity and maintaining it means determining your priorities and upholding it in all your dealings. You have to contemplate or anticipate situations that will challenge your honesty. You need to plan on how to respond properly and make your position known at the beginning of any business or work relationship. It takes a lot of courage and tactfulness letting others know your standards.
Former US President Dwight Eisenhower said, “The supreme quality for leadership is unquestionable integrity. Without it, no real success is possible, no matter whether it is on a section gang, a football field, in an army, or in an office”. The Bible reminds in Hebrews 13:18: “We wish to conduct ourselves honestly in all things.” The integrity that we build for ourselves will last forever. It will make us proud of who we are. The choice is in our hands. The views expressed herein are his own and do not necessarily reflect the opinion of his office as well as FINEX.
Benel D. Lagua is Executive Vice-President at the Development Bank of the Philippines. He is an active FINEX member and a long time advocate of risk-based lending for SMEs.
Everyone commits mistakes. But what’s the best way to disagree with a boss who thinks he has the best ideas around and will not listen to his people? Sometimes, if the mistakes are glaring, he will not even bother to apologize. I’m seeking your advice for two reasons: I don’t want to be blamed later on for being complicit. And two, I’m not sure whether he’s testing my determination and integrity. What’s your take? — Deep Blue Sea.
Proverbs 1:7 says: “The fear of the Lord is the beginning of knowledge, but fools despise wisdom and instruction.” This heavenly passage is our best guide, against a copycat earthly proverb from somewhere that reads like this: “The fear of jail is the beginning of wisdom.”
The ability to keep your boss in check depends much on your religious beliefs, which help determine your path towards greatness or oblivion. In addition, it depends very much on above-average work performance and a little office politics to get along with your boss, until you reach the line of legal, ethical and moral standards.
These standards are required in an ideal world. In reality, however, it doesn’t work that way. At times, you’ll have to struggle when you reach a fork in the road, especially when the other party is your boss who could decide on your job security and your future. The end goal, therefore, is how to look good to your boss through your work performance and not through something that would force you to violate the law.
Here are some considerations for doing just that: One, be clear about the intentions of the boss. Don’t jump to conclusions. So everything is clear and explicit, you have to document everything via email, text messages, or a paper document. Even if the boss gives you a verbal instruction, you have to make sure that you’ve understood his instructions by documenting his thoughts. He may or may not respond to you. Consider it a red flag in case he fails to write back. Two, go back to your boss to clarify everything. Related to Number One above, if the boss fails to confirm what he wanted, then meet him in person and make a counter-proposal without making it appear that his ideas are too stupid for you to even take a second look. There are times when a bit of bargaining is appropriate. It’s just a matter of offering several superior options that he will consider. Three, look for simple options that work to your advantage. List down the best points that will give you an advantage in bargaining with your boss. Rank your options in terms of priority. Present the pros and cons of each option. At every step, be prepared to support any position with accurate facts and figures. But don’t complicate things and give your boss an excuse to go back to his original stupid idea. Four, show initiative in solving certain problems. Don’t worry about whether the task is part of your job description or whether you have a clear mandate from the boss. If an issue is unfolding before your eyes, do something to prevent an error, if not reduce its adverse impact against your boss and to the organization as well. No one can argue against someone with a “can do” mentality. Five, volunteer for projects that will gain you exposure. Not only that, the more skills you possess, the better for you to handle other things inside and outside the organization. Make your talents known to other bigwigs in the company. If you have a conflict with your current boss, your “hot skills” can save you many times over. Other department managers and even the CEO could help save you from harm. Six, work on projects favored by the boss. Know what is important to your boss, and not the things you consider to be equally important. For example, keeping inventory low as a cost-cutting measure is valuable to top management, while high inventory levels can make life easier by doing away with the need for repeated orders to suppliers. Understand the business side of things from the eyes of your boss. Last, never coast on past accomplishments. You may have done something extraordinary in the past, but that alone will not save you in the future. Don’t rest on your laurels. There are many people out there who could be much better go-getters that will quickly make your accomplishments irrelevant. No one can argue against consistently superior work performance.
Just the same, don’t compromise your integrity, even if others are willing to compromise theirs. Some people tend to be bounty hunters. If you don’t agree with your boss, be upstanding but diplomatic in rejecting his proposals. After all, the quality of service that you provide to the organization will be taken as a whole rather than your individual areas of conflict with the boss. ELBONOMICS: A tactful rejection is better than a frank, but false promise.
POTTED POTTER returns to Manila with performances at the Maybank Performing Arts Theater, BGC Arts Center in Taguig City on March 22 to 24. Created by Olivier Award Best Entertainment nominees Daniel Clarkson and Jefferson Turner, the show takes on the challenge of condensing all seven Harry Potter books into 70 hilarious minutes (including real-life game of Quidditch). This funny show features all fans’ favorite characters, a special appearance from a fire-breathing dragon, endless costumes, songs, ridiculous props, and a generous helping of Hogwarts magic. For tickets and schedules, contact TicketWorld (www.ticketworld.com.ph, 891-9999).
Angels in America: Millennium Approaches
TOPPER FABREGAS and Nelsito Gomez star in Angels in America: Millennium Approaches.
ATLANTIS Theatrical Entertainment Group kicks off its 20th anniversary with the Tony award-winning Angels in America: Millennium Approaches by American playwright and screenwriter Tony Kushner. There will be performances from March 22 to April 7 at the Carlos P. Romulo Auditorium, RCBC Plaza, Makati City. Directed by Bobby Garcia, it stars Mark Stroem, Nelsito Gomez, Art Acuńa, Pinky Amador, Angeli Bayani, Topper Fabregas, and Andoy Ranay. The play contains strong language and mature content and is meant for audiences over the age of 16. The first part of the play is set in New York City in the 1980s. When Prior Walter finds out that he has contracted the AIDS virus, his lover Louis Ironson leaves him. Meanwhile, Joe Pitt, a closeted gay lawyer, struggles in a marriage with Harper, his drug addicted wife. The two couples’ fates intertwine throughout the story. For tickets and schedules, contact TicketWorld (www.ticketworld.com.ph, 891-9999).
Dirty Old Musical take three
DIRTY Old Musical (DOM), about a 1980s one-hit wonder band that reunites more than 30 years later to raise funds for an ailing member, is back for a third run with a new cast member and new songs. It runs until March 23 at the Music Museum, Greenhills Shopping Center, San Juan. This iteration stars The Dawn frontman Jett Pangan, Robert Seña, Nonie Buencamino, Bo Cerrudo, and Carlo Orosa. Tickets are available at TicketWorld (www.ticketworld.com.ph), the Music Museum (721-6276), or via Spotlight Artists Center (776-4487/0919-911-4444). Ticket prices range from P1,000 to P3,000.
The Phantom of the Opera
ANDREW Lloyd Webber’s musical The Phantom of the Opera has performances at The Theatre at Solaire until April 7. Based on Gaston Leroux’s novel of the same title, the story is set in the Paris Opera House where a young soprano becomes the object of The Phantom’s affection and he manipulates her career at the expense of the opera house staff and stars. For tickets and schedules, contact TicketWorld (www.ticketworld.com.ph, 891-9999).
Lio Beach Fest 2019
THE Lio Beach Fest is a yearly gathering of individuals who love the environment and music. Held this year from March 21 to 24, the festival includes a concert, talks, workshops, and a celebration fo Eart Hour. On March 22, World Water Day, guests are encouraged to discover the beauty of Paradise Falls. On March 23, it is the Music Fest x Earth Hour, featuring artists and bands from Palawan and Manila, including the Alab LED Poi Dancers during the lights-out observance of Earth Hour. Other performers are Kawangis ng Tribu, Cheats, Mojofly, and This Band. On March 23 and 24, there will be art workshops, sustainability talks, and the Taboan weekend market. Foir updates, Visit Lio Tourism Estate’s and Lio Estate Resorts Facebook and Instagram pages for updates.
Stand-up comedy by Atul Khatri
ATUL KHATRI was the CEO of his family-run IT business when he started doing stand-up comedy. He chucked the suit for the mic and has since gone around the world, performing more than 400 shows, and has been featured on Netflix. He’s coming to Manila for a one-night show, Atul Kahtri in Manila, on March 23, 8:30 p.m., at the City Club in Makati City. Doors open at 6:30 p.m., and the show will offer a full bar and there will be several Indian and non-Indian concessionaires. Hosting the show in Manila will be Singaporean comedian Deepak Chandran, while the opening act will be Hong Kong’s Ben Quinlan (winner of the 11th International Hong Kong Comedy Competition in 2017). Tickets are priced at P2,000 (for VIP) and standard tickets are P1,500. For tickets and other inquiries, contact 0920-971-7055 or 0917-570-3057.
Tales of the Manuvu
AL ABRAHAM plays Manama while Ronelson Yadao is First Man in Tales of the Manuvu. — JOJO MAMANGUN
BALLET PHILIPPINES and National Artist for Dance Alice Reyes restage the 1970s classic Tales of the Manuvu, a rock-opera ballet that tells the creation story of the Manobo tribe from Mindanao. There will be performances from March 22–31 at the Cultrual Center of the Philippines’ Main Theater. Celeste Legaspi and Boy Camara, veterans from the original production 42 years ago, will be performing in this restaging, along with Ding Mercado, Shiela Valderrama, Lorenz Martinez, Nar Cabico, Reuben Laurente, Poppert Bernadas, Lara Maigue, and Aicelle Santos. Jazz/rock band Radioactive Sago Project will perform live. Aside from the hour-long main event, the program consists of Sun Down, The Weight on Our Toes, and Mama, which are works by new choreographers; and Chichester Psalms, a restaging of another Alice Reyes piece that was first performed in 1973. Tickets are available through Ticketworld (891-9999), the CCP Box Office (832-3704), the Ballet Philippines Box Office (551-1003), or online at www.ticketworld.com.ph.
