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The year 2020 is probably the year we will all look back on with much trepidation. After all, it is the year when everything that could go wrong around the world, happened. Wildfires, volcanic eruptions, hail storm, flooding, earthquake, mass protests, explosions and, of course, COVID-19.
“Once upon a time, there was a world where resources abound, where there were spaces to explore and enable innovations and creativity, where there were ‘rulers’ who governed with responsibility and accountability, where greed was just the villain in bedtime stories, and where the people were guided by their values in going after their dreams, all living in comfort and harmony. Then a plague cast a cloud in that world and left destruction and deaths in its wake. And things were never the same again.”
When the COVID-19 lockdown happened, some friends, volunteers, and I started Rescue Meal to provide food to healthcare workers. I started with my circle. My friend Miguel (not his real name) owned and managed a network of large cold storage distribution centers across the country. I shared our plan with him. A few days later, I got a call about a donation of 1,000 kilos of frozen meat from one of Miguel’s meat importer customers. Our volunteers distributed this meat to feeding kitchens, a home for poor teens, and a cancer center for kids.
I have seen many Facebook support groups for restaurant owners, business owners in general, and just about every SME that has founded a business the past decades or maybe even just a few months before COVID started, and all of us, myself included, have wondered how long ECQ and MECQ, and finally GCQ, will last.
The lockdown and containment measures resulting from the COVID-19 pandemic was the “tipping point” for companies, small enterprises or conglomerates, to integrate flexible work arrangements (FWA), whether fully or partially, in their day-to-day operations. We can confidently say that the world is seeing the largest experiment on flexible work anywhere and at any time as an imperative and compelling business solution.
Businesses today face three sets of forces that are concurrently disrupting the global economy. First are transformative changes brought about by the 4th Industrial Revolution. Second are changes that have been set off by the fundamental shifts taking place the world over well before the onslaught of COVID-19, notably the breakdown of globalization, increasing nationalism and growing political extremism. The third and most recent set of forces are those that have been unleashed by the coronavirus pandemic.
Farming is both a challenging and rewarding endeavor. It involves many factors — land, labor, financing, inputs (planting materials, fertilizers, pesticides), farm machinery and equipment, utilities (water, power), handling, packaging, logistics, market, knowledge of supply and demand in relation to the market, the peace and order situation, the weather, and now, even the pandemic. As a result, success can never be predicted.
The COVID-19 pandemic has forever altered the way business does business. It has ushered in changes in the world of business that have far-reaching and long-lasting consequences not only for business itself, but for the whole of society.
The rise of COVID-19 from a “crisis-to-watch” back in late December 2019 to a global pandemic that saw every country go into virtual lockdown, is nothing short of meteoric. The world’s economy fell into the doldrums with businesses (except for a handful) struggling with almost non-existent operations, disrupted supply chains, and an unprecedented surge or drop in demand that were not even in any planning scenario. We are all caught flat-footed by this continuously evolving threat, at a loss as to what will come next, not knowing where to start our business continuity and recovery efforts.
And what I mean by small is being a small business. I was just listening to a webinar by top-notch supply chain executives, and, to quote one of the speakers (Tonet Rivera, formerly of Mead Johnson), he said: SMEs rock! I was tickled pink and wish he saw me raise my hand for a high five.
The Coronavirus has made many of us very afraid. Our fears are justified. While not enough is known about how to deal with the disease, the online Department of Health (DoH) COVID-19 Case Tracker reported on April 30 that we already had 8,488 confirmed cases of the disease, 568 deaths, and 1,043 recoveries. As the cases and deaths continue to rise, we all hope that the government and health authorities can find manageable solutions soon and that the people affected by the lockdowns will have the support and patience they need to weather this catastrophe.
The hurriedly implemented government imposed lockdown-quarantine to arrest the COVID-19 crisis has brought about unintended consequences. It has caused serious income loss not only to the business community but, more importantly, to the lower and economically vulnerable income groups, most of whom are minimum wage earners, day workers, contract or piece workers, or self-employed in the underground economy... All of whom live virtually hand-to-mouth for their daily existence.
Today, the world is moving so fast and yet, Filipinos can’t even venture big time in the tech space. There are a lot of tech-savvy Filipinos who have brains and ideas. But they lack capital and the stomach to just do it. It’s hard, especially if one lacks access to capital markets, bank loans or other debt instruments. It entails hundreds of millions of pesos, and there are only a handful of VCs (venture capitalists) here to seed. All financial institutions, at least on the creditors side, want collateral, and it takes a lot of effort and size to issue notes, bonds, etc., if you’re not a big conglomerate. But the future is around the tech space, that’s why even though the telco project is so challenging, we are deeply inspired by it. We are hungry to see it succeed. Is it easy? No. Is it financially challenging? Yes. But can it be done? Why not?
Whatever you believe to be true about life, one thing is for sure -- time passes whether you like it or not. The future cannot be stopped. And since the future is a mystery, many of us want to get a peek, or at least get the best possible guess, at what the future’s going to be like, to see if things will play out the way we hope they will.
The conversion of an Ordinary Stock Corporation to a One Person Corporation (OPC) is explained in Section 131.
Discharging the Burden to Prove that One Person Corporation (OPC) Property “Is Independent of the Single Stockholder’s Personal Property” -- As distinguished from the first paragraph of Section 130, the second paragraph uses the present tense in describing the burden placed upon the Single Stockholder to “prove that the property of the OPC is independent of the stockholders’ personal property,”
I had lunch with Gina. She was diagnosed 10 years ago at age 40 with breast cancer. Stage 3c, meaning advanced. Nineteen of the 25 lymph nodes the doctors found were malignant. She underwent surgery, six sessions of chemo, and 33 radiation sessions. Each chemo session left her sick and nauseous for a week. It left a metallic taste in her mouth, and she could not eat anything.
Section 130 of the Revised Corporation Code (RCC) sets out three rules governing the liability of the Single Stockholders, thus.
A One Person Corporation (OPC) is not required to have a minimum capital stock, whether in terms of authorized, subscribed, or paid-up, except as otherwise provided by special law.
Dear friends, data is staring us in the face. For the past three years, foreign direct investments have consistently gone down, from $10.3 billion in 2017 to $9.8 billion in 2018, and are projected to fall further to $6.9 billion in 2019, or 33% decrease from the 2017 level. Indeed, our $6.9 billion 2019 FDIs will only be about one-third of Vietnam’s $20.4 billion and nearly one-fourth less than Indonesia’s $24 billion foreign investments in 2019.
What is strategic agility?
In my past columns, comparative metrics on ASEAN agriculture were discussed. They included growth, diversification, export patterns, and total factor productivity, among others. These factors happen to influence rural poverty reduction.
Section 116 of the Revised Corporation Code (RCC) defines a “One Person Corporation” as a corporation with a Single Stockholder, who must either be a: (i) natural person; (ii) trust; or (iii) estate, and which shall be governed by a special set of provisions under its Chapter III, Title XIII. However, as will be demonstrated in the discussions below, it would be easier to view the Single Stockholder in a One Person Corporation (OPC) setting as simply a natural person.
In search for a better governance structure -- that would best fit to address “distant regional circumstances and local lesser interests” and would best “accommodate differences among populations divided by ethnic, religious or cultural cleavages yet seeking a common, often democratic, political system” otherwise ignored by the distant center of a unitary political order -- a Consultative Committee (ConCom) on charter change came about. Thus, the proposed draft Constitution for a Federal Republic which says... “shall at all times uphold federalism, national unity and territorial integrity.”
Federalism has been a hot national issue ever since the present administration assumed the reins of government. As one of its campaign propositions in the last presidential elections, it must have been one major factor that propelled this present dispensation to power!
The title of this essay was the main theme of the recently concluded 17th Management Association of the Philippines (MAP) International CEO Conference 2019 which was held at the Makati Shangri-La. This piece is intended to interject our own impressions and perceptions on this vision statement which we hope will complement those of the many informative and insightful presentations made at the Conference.
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