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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.
Lately, the Bureau of Corrections (Bucor) has been the subject of comprehensive Senate inquiries. The problems and issues unearthed are so complex that they are beyond comprehension. It is very evident that management has been remiss in the exercise of the decision-making process. If one does not act immediately due to indecision, the opportunity vanishes unless a radical change is undertaken.
The Bureau of Internal Revenue (BIR) recently celebrated its 115th Anniversary, and with it comes the time to recognize its performance. While the general perception of corruption remains, it is important not to forget the BIR’s active efforts. Praise what is right and criticize what is wrong.
Mindanao, with six regions, has the highest poverty incidence (36% in 2015) among the three main island groups including Luzon and Visayas. The region hosts a disproportionate percentage of rural poor. Agriculture diversification is key to reducing the high rural poverty.
On July 19, 2016, I wrote an column under “MAP Insights” entitled “General’s Impressions of the Commander-in-Chief.” Three years after his assumption into office, his popularity and trust ratings are still high. The results of the mid-year election further prove that he is a force to reckon with. Destabilization moves to emasculate or unseat him never materialized. In that article, I cited two significant qualities that he projects: charisma and political cunning. Both remain to be the foundations of his staying power. His charisma continues to inspire and has developed goal congruency with the majority of the Filipinos. With political cunning, he changed the parameters of the game. He built change and flexibility into the system. He addressed his agenda to the conditions of his time. He challenged the status quo.
Tough choices, turbulent world -- these are the challenges that today’s CEOs face. Globalization 4.0 is changing the business equation such that now they have to aim for sustainability with the same vigor they put into pursuing profitability targets. As discontent with the old order continues to escalate because of perceived global imbalance, people are turning to businesses to help solve society’s problems.
The Philippine Development Plan targets the reduction of the national poverty headcount to 14% in 2022 from 21.6% in 2015. Relatedly, rural poverty is expected to fall to 20% from 30%.
In planning to start a business, deciding between a corporation and a sole proprietorship is one of the first considerations. The differences used to be clear-cut -- corporations for large businesses, sole proprietorships for smaller ones. For the most part, that remains true.
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