Issue:

The government (Philippines) is one big enterprise. It is equipped with adequate resources to manage its affairs in fulfilling its mission to provide basic social services, infrastructure development, etc. As a student of MBA, assess and react on its present economic status taking into account the financial difficulties brought about by national calamities, graft and corruption, mismanagement, bloated bureaucracy, etc. What innovations do you suggest/introduce to uplift its economic status?

Our country is one of the world’s fastest growing economies having an emerging economic status. In Asia, Philippines is the fastest growing Asian country. This is evidenced by 7 percent increase in the domestic economy for the third quarter in 2013 having a gross domestic product growth of 7.4 percent in the first three quarters compared with 6.7 percent in the same period in 2012. A property boom and the services sector were the main drivers of the economic expansion. However, our economy is expected to grow about 7 percent only by end of the year as expansion in October-December is stunted by Typhoon Haiyan. Economic Planning Secretary Arsenio Balisacan said Super Typhoon Haiyan would cut up to 0.8 percentage points from gross domestic product growth in the last quarter of the year.

Yes, we all know that Philippine economy faced very difficult issues but challenging year in 2013. Let me mention the famous ones, on political and financial issues is the pork barrel scam or what is known as Philippine Assistance Development Fund (PDAF) case, political confrontation between Muslim rebels and government forces (Zamboanga war), “word wars” in senate involving our great political leaders – Senators Miriam and Enrile and the unauthorized release of government funds due to fake SAROs (Special Allotment Release Orders). On natural calamities we have