Concept Building:

What You Need To Know

Lesson 3. Business Opportunities in the Philippines

LO 3. Gave business opportunities in the Philippines.

Business opportunities in the Philippines

If you are looking for business opportunities in the Philippines, there are many aspects
that you have to consider. Business opportunities should also be understood opportunities to
provide solutions to consumer’s, provide jobs for the people, and make your life better, not
only financially but also personally.
The Philippines is a country with rich natural and human resources. A tropical country,
the Philippines is the largest producer of coconuts and pineapple. Surrounded by waters, the
Philippine’s has rich marine resources and can also accommodate deep-sea ports. Our country
is also abundant in people’s talent and skills. The Philippines is currently the leader in business
process outsourcing, and its professionals are one of the most trusted in the world.
For starters, while this may sound defensive, there are some business ideas
opportunities, like pawnshop, money remittance, lending company, candle-making, bazaars,
sari-sari stores, water business, office supply business, laundry shops, junkshops, chicken
inasal, barbeque, siomai, binalot food, halo-halo, siopao, hobbies, PC assembly, call centers,
home-based business and other franchising prospects.
Right now, the beauty lies in seeing the community grow, knowing information
technology and how the net ticks, and learning how laws apply or don’t apply, in the on-going
high-tech revolution. We have to start somewhere.
There’s such thing as short-term, medium-term and long-term plan. The short-term
plan is to start with what could easily be done, primarily because this is a hobby, and not work.
Besides, one important business principle is focusing on a niche, then expanding if the
opportunities warrant it.
An entrepreneur doesn’t have to told about business ideas or opportunities.
Entrepreneurs recognize a potential business venture even if the opportunity is not staring
them in the face. Successful entrepreneur sees what is not obvious. This ability sets
entrepreneurs apart from the rest of the pack.

We have the resources, be resourceful

Filipinos can maximize these resources that the country offers to its people – we just need to
be resourceful. Foreigners can also consider investing in the Philippines – the labor cost in the
Philippines is cost efficient compare to other countries.
For Filipinos who want to start a business, they don’t need to start big if they can’t
afford it. They can start a small business and strive to grow it as time passes. There are many
small business opportunities in the Philippines that only require low capital. There is even

IT-20, Philippine Industries & Management

business that you can start at home. You may check out this list of “51 home-based business
ideas for Filipinos”.
If you are professional or you have talents and skills to provide services to clients, you
can start a business without investing too much money for capital. Service firms don’t require
inventory to sell to costumers. Their inventories are their expertise and skills. Thus, you can
start a service firm without worrying about the money you will spend to buy raw materials
because you are already the material needed to produce services for your clients.

Business opportunities on the Internet

With the help of the Internet, providing services and marketing your products are now
more efficient. There are several business opportunities you can found online. You may check
out these “12 online business opportunities int the Philippines.” You can also check out these
“40 Internet business ideas you can start at home.”
Online business may be started small but they have potentials to make it big at the
right time. Remember that some of the biggest Internet companies in the world today were
even started at their founder’s home or garage. Mark Zuckerberg launched Facebook from his
Harvard dormitory room. Google first workspace was set up at Susan Wojcicki’s garage.
Although building a great company like Facebook and Google is a great feat, I believe that
Filipinos have the talent and skills to do the same.

Business industries ruled by top entrepreneurs

The wealthiest and top business people in the Philippines are in the retail industry
(Henry Sy of SM and Lucio Co of PureGold), port industry (Enrique Razon Jr.), construction
(David Consunji), banking industry (George Ty), fast-food (Tony Tan Caktiong of Jollibee), real-
estate (Andrew Gotianun of Filinvest Land), and diversified industries (Lucio Tan, John
Gokongwei Jr. and Jaime de Ayala).
Those industries are huge, but like any other successful entrepreneurs, some of them
have their own rags-to-riches stories – and Henry Sy, the richest man in the Philippines today,
is one of these examples.
In the near future, expecting young Filipino entrepreneurs who will follow their
footsteps. Also, expect entrepreneurs in the IT industry to become one of the most successful
entrepreneurs in the Philippines, and even made it to the list of Filipino billionaires. But for
now, the old industries are ruling that list.

The right business opportunity for you

If you are looking for the right business opportunity for you, you should choose the one
that is according to your expertise, passion, and potential. You can start small and strive to
make it the biggest in the future. You can follow the industries ruled by the billionaires today,
but make sure that you have the qualities to complete and even win the competition. Finally,
you can also try to explore the unexplored market and start a unique business, in which you
can succeed and be the number one.

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Four ways to identify more business opportunities

To be successful entrepreneurs, we need to be continually innovating and looking for

opportunities to grow our startups.

But how do you find new opportunities to take your startup to new markets and growth levels?
Here are four ways to identify more business opportunities.

1. Listen to your potential clients and past leads

When you’re targeting potential customers listen to their needs, wants, challenges and
frustrations with your industry. Have they used similar products and services before? What did
they like and dislike? Why did they come to you? What are their objections to your products
or services?

This will help you to find opportunities to develop more tailored products and services, hone
your target market and identify and overcome common objections.

2. Listen to your customers

When you’re talking to your customers listen to what they saying about your industry,
products and services. What are their frequently asked questions? Experiences? Frustrations?
Feedback and complaints?

This valuable customer information will help you identify key business opportunities to expand
and develop your current products and services.

3. Look at your competitors

Do a little competitive analysis (don’t let it lead to competitive paralysis though) to see what
other startups are doing, and more importantly, not doing? Where are they falling down?
What are they doing right? What makes customers go to them over you?

Analyzing your competitors will help you identify key business opportunities to expand your
market reach and develop your products and services.

4. Look at industry trends and insights

Subscribe to industry publications, join relevant associations, set Google alerts for key industry
terms and news and follow other industry experts on social media.

Absorb yourself in your industry and continually educate yourself on the latest techniques and
trends.

IT-20, Philippine Industries & Management

 Testing Your Brain Power:
How Much Have You Learned

Identification: Read the following statements and write your answer on the space
provided.

1. The leader in business process outsourcing, and its

professionals are one of the most trusted in the world.
2. (True/False) Philippines is a country with rich natural and
human resources.
3. (True/False) Philippines is the largest producers of oil and gas.
4. (True/False) Philippines has rich in marine resources and can
also accommodate deep-sea ports.
5. (True/False) Entrepreneurs doesn’t have to told about
business ideas or opportunities but recognize a potential
business ventures even the opportunity is not staring at them.
6. A business plan starts with what could easily be done.
7. (True/False) To be successful entrepreneurs, you need to be
continually innovating and looking for opportunities.
8. One of the richest men in the Philippines that has own rags-
to-riches stories.
9. One of the richest men in the Philippines who venture
successfully in construction.
10. Another rich man who successfully ventured in banking
industry.

IT-20, Philippine Industries & Management

 Developing Your Higher Order Thinking

What are the business opportunities in the Philippines?

Explained Business opportunity in the Philippines.

“Business opportunities are

like buses, there’s always
another one coming.”

– Richard Branson

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 Concept Building:
What You Need To Know

Lesson 4. Investment Potential in the Philippines

LO 4. Described the investment potential in the Philippines.

Investment potential in the Philippines

The Philippines is an archipelago of 7,100- islands and it is located in the southeast Asian
region. It has one of the longest beaches in the world and has various natural wonders and
scenery which is ideal for tourism businesses and real estate investment.

The Philippines is one of the more dynamic markets in the global economy. Its general macro-
economic outlook improved significantly in recent years and the country has made promising
headway towards more sustainable and equitable economic development.

With an estimated population of 92.23 million, the country's natural pool of talents and
culturally adaptable human resources position the country as the most value-for-money
destination for investments in the Asian region. The Philippines place high-value on education
that equipped our labor force with world-renowned technical competency and English
proficiency.

Bright spots in the economy include BPO, tourism, mining, agriculture, bio-fuels and renewable
energy, and infrastructure. The Philippines is endowed with rich and diverse natural resources
that provide seemingly unlimited opportunities.

With national economies and supply chains becoming more and more intertwined, the country
strives to expand and strengthen international investment agreements with capital-exporting
countries to safeguard investors against economic volatilities and hedge against risk.

The government is well aware of the need to focus on total investor-related solutions to
nurture investments. Going from strength to strength, the country's comprehensive strategy
to attract capital inflows integrates secure and predictable economic conditions with business-
friendly policies.

Exemplary Workforce
The Filipino workforce is one of the most compelling advantages the Philippines has over any
other Asian country. With higher education priority, the literacy rate in the country is 94.6%,
which is among the highest. English is taught in all schools, making the Philippines the third
largest English-speaking country in the world. Every year, there are some 350,000 graduates
enriching the professional pool.

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In the IT service sector, Filipino workers are considered the new breed of world-class service
professionals and are referred to as Global Knowledge Workers because they are intelligent
and able to compete at the highest levels among the best in the world.

Prime Business Location

The Philippines is located right in the heart of Asia and today, it is the fastest growing region.
It is located within four hours flying time from the major capitals of the region. Sited at the
crossroads of the eastern and western business, it is a critical entry point to over 500 million
people in the Association of Southeast Asian Nations (ASEAN) market, and a gateway of
international shipping and air lanes suited for European and American businesses.

First-Class Lifestyle
Discover the best of sun, sea, sand and style in the tropical setting, teeming with the best of
western amenities. The Philippines is second home to expatriates who enjoy the company of
the warmest people in the region, the country's openness to varied cultures and a decidedly
global outlook. Expats enjoy accessible and affordable luxuries such as business centres,
housing, schools, hospitals, shopping malls, hotels and restaurants, beach resorts, and
recreation centres.

Abundant Resources
An archipelago like the Philippines offers diverse natural resources, from land to marine to
mineral resources. It is also the biggest copper producer in Southeast Asia and among the top
ten producers of gold in the world. It is also home to 2,145 fish species, four times more than
those found in the Bahamas. The 7,100 islands boast of beautiful beaches and breathtaking
sceneries that offer soothing leisure and relaxation spots for vacationers and tourists.

Liberalized and Business-Friendly Economy

An open economy, like the Philippines, allows 100% foreign ownership in almost all sectors
and supports a Build-Operate-Transfer (BOT) investment scheme that other Asian countries
emulate. Government corporations are being privatized and the banking, insurance, shipping
telecommunications, and power industries have been de-regulated. Incentive packages
include the corporate income tax, reduced to a current 32%, with companies in the Special
Economic Zones (ecozones) subject to only 5% overall tax rates. Multinationals looking for
regional headquarters are entitled to incentives such as tax exemptions and tax and duty-free
importation of specific equipment and materials.

Unlimited Business Opportunities

Asian economies integrate within the vast framework of the ASEAN Free Trade Agreement
(AFTA), the Philippines is the natural and most strategic location for firms that want access to
the large ASEAN market and its vast trade opportunities. The Philippines has enhanced and
primed up various areas for investors and offers a dynamic consumer market accustomed to
an array of product choices created by a competitive domestic economy.

Developing Infrastructure for Global Growth

A well-developed communication, transportation, business, and economic infrastructure links
the three major islands - Luzon, Visayas, and Mindanao - and distinguishes the Philippine
economy. Highly accessible by air, water, and cyberspace, liberalization of inter-island shipping
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and domestic aviation further sparked improved facilities and services. The container
terminals are suited to handle cargo traffic at the highest levels of efficiency.

Mining and Mineral Processing

The Philippines is situated along a well-defined belt of volcanoes called the Circum-Pacific Rim
of Fire where the processes of volcanism and plate convergence resulted in the formation of
abundant and important metallic mineral deposits.

It is considered one of the countries that are richly endowed with metallic resources and it has
the potential to be among the top ten largest mining powers in the world. The presence of
major foreign mining companies such as Anglo-American, BHP Billiton, Sumitomo Mining and
Xstrata attests to the attractiveness of mining in the Philippines.

Pharmaceuticals
The Philippine pharmaceutical market was valued at US$2.51 Billion in 2008, and reached
US$3.2 billion in 2013. In terms of the overall market this is comparable to Pakistan and
Thailand, and in terms of per capita, it is similar to China and Iran. The Philippines is
continuously ranked as the 11th most attractive pharmaceutical market in the Asia-Pacific
region, and the third biggest market in ASEAN after Indonesia and Thailand.

Fourteen (14) of the Top 20 pharmaceutical companies in the world have manufacturing
facilities in the Philippines. The share of local manufacturers in the drug market is seen to rise
to 38% and will likely continue to expand through 2010 and beyond. Multinational drug
companies are expected to grow by 4% in 2009.

Ship Building

Shipbuilding is now shifting to Asia and the Philippines, which specialises in production, will
likely exceed market shares of the traditional shipbuilding nations. The Philippines is the fourth
largest shipbuilder, next to Korea, China and Japan. The arrival of foreign shipbuilders in the
Philippines propelled the export growth of Philippine-made ships in the international market.

After being recognized as the fourth largest shipbuilder in the world, shipyards established in
the Philippines are now building more ships of larger tonnage capacities like bulk carriers,
container ships and passenger ferries. The construction of 180,000-DWT commercial ship by
Hanjin Heavy Industries Corporation, a South Korean shipbuilding giant, shows that the
Philippines can really build world-class vessels.

With a good management and skilled human resource matched with capital, technology and
global market opportunities, the industry is moving forward to make the Philippines one of the
largest shipbuilding nation in the world in the next five to ten years.

Finance
The Philippines is the undisputed Offshoring Destination of the Year as recognised by the UK's
National Outsourcing Association for 2007, 2009 and 2010. IT and BPO revenues reached $9.0
billion in 2010 which is equivalent to 8% of the total offshore BPO market, next only to India.

IT-20, Philippine Industries & Management

The industry has relatively high competence and maturity in Finance & Accounting and other
back office services. IBM's Global Locations Trend Annual Report (October 2010) named the
Philippines as the world leader in business support functions like share services and BPO. The
report said the country offered similarly attractive business environment for international
business support functions as India's but unlike the latter's BPO hot spots.

The value proposition is anchored on the ability to provide scale, efficiency and talent while
enabling superior services to the end customer. The Philippines is a world class destination for
Shared Services with banking giants like HSBC Citibank, JPMorgan Chase, Macquarie Bank and
Deutsche Bank as locators.

Animation
With a long-standing history in animation services and a strong cultural affinity with Western
countries, US companies specifically, have long preferred the Philippines as an outsourcing
destination when it comes to animation; in film, television, video games and other
applications. The country is considered to have a first mover advantage in the Asian region.
Filipino animators have worked on popular cartoons and animated films such as: Addams
Family, Captain Planet, Dragon Ball Z, Finding Nemo, The Incredibles, The Jetsons, The Mask,
Scooby-Doo, and Tom & Jerry. Entertainment companies such as Hannah-Barbera, Marvel
Comics, Walt Disney, and Warner Brothers has outsourced many projects to Philippine-based
animation companies.

Animation outsourcing also applies to creating graphics for the video game industry, an
industry that was valued at US$ 25.1 billion in 2010. Filipino animators have worked on games
for the following gaming platforms: Nintendo, Sega, Game Boy and Sony Playstation.

Game Development

Filipinos are ideal game developers due to their affinity with the US in terms of education,
media and sports; and with Japan in terms of animation and video entertainment. In 2006, the
Game Developers Association of the Philippines (GDAP) formed to gain better leverage for the
industry.

GDAP was founded by a collaboration of six companies with solid experience in software
development and animation. Most were Small and Medium Enterprises (SMEs) and start-up
companies formed by young and enthusiastic professionals. Today, GDAP counts 13 members
albeit 27 more companies are operating outside the association. Revenue for the sector
reached almost US$5 Million in 2009 or 50% growth year-on-year, with 90% of revenue made
from the foreign games market.

IT-20, Philippine Industries & Management

 Testing Your Brain Power:
How Much Have You Learned

Identification: Read the following statements and write your answer on the space
provided.

1. The most controlling style of the management.

2. A management where there is little trust or confidence to the
employees.
3. Type of management that is versatile with the advantages of
having more diverse perspectives involved in decision making.
4. Management style where the trust and confidence is placed
in the employees and management actively seeks out their
opinions.
5. Management trusts the employees completely and not only
seeks out their opinions and ideas.
6. Management style communicated extensively with
employees and make decisions by the majority.
7. Management style that involves little or no interference from
management.
8. It allows employees to take full responsibility of their work
areas.
9. Style of management that is particularly useful in
organizations with hierarchical structures where
management makes all of the decision.
10. A management style that require constant teaching and
coaching of the staff as well as consistent supervision.

IT-20, Philippine Industries & Management

 Developing Your Higher Order Thinking

Described investment potential in the Philippines.

Gave some investment potential in the Philippines.

“Success usually comes to those

who are too busy to be looking for
it.”

– Henry David Thoreau

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 Concept Building:
What You Need To Know

Lesson 5. Business Procedure and Incentives

LO 5. Enumerated the different business procedure and incentives

Business procedure and incentives

Challenging economic times require hard work and patience. Well-planned employee
incentive programs ideally result in stronger teams and harder-working staff. Employees who
feel they are valuable might work significantly harder might be more willing to make sacrifices
by temporarily reducing benefits or even salaries, if needed. Crafting a successful staff
incentive policy requires careful planning, teamwork and strong communication with all
involved.

Incentive Policy Types

Incentive policies can be structured, such as a bonus for increased sales, or casual such
as a spontaneous bonus for hard work. Structured programs require clear communication of
both policies and the procedures. Policies describe the details of the program, such as a 10
percent one-time bonus for exceeding production goals over a six-week period of time.
Procedures describe the mechanics of the program. For example, they might detail the types
of sales included, how they will be calculated, the number of eligible employees and the
number of possible winners. Casual incentives, on the other hand, are less formal and may be
given privately to avoid resentment from the other employees. Examples include gift
certificates to favorite restaurants or small cash awards for exemplary performance.

Management Benefits

Strong incentive policies address your business's immediate needs. Focus on creating
a program that targets your current situation with clear, easy to implement procedures. For
example, if your business is experiencing a slowdown, then rewarding a rapid increase in sales
might be challenging. You may not have the budget to hire new employees or buy additional
inventory to meet a sudden increase in demand. An incentive program that rewards both
increased sales and a willingness to temporarily work extra hours to process those sales might
better address your need for growth without requiring a huge investment, than a program
focusing exclusively on volume.

Employee Benefits

Include employees in the formulation of your business's incentive policy. Employee

input helps you determine policies that are truly rewarding and motivating. For example, a golf
retreat is not likely to motivate a staff consisting mostly of working mothers. Similarly, day care
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needs may make extra hours too difficult to arrange for the parents on your team, effectively
excluding them from your program. Including employee input might result in a menu of
rewards from which they can choose and alternatives for meeting increased company needs
from home. Policies that include all employees, with clear procedures that are easy to
understand and are agreed to by the team in advance, are most likely to be effective.

Considerations

Avoid bad feelings by clearly communicating your policies. Positive, achievable, short-
term goals are significantly more motivating than long-term, difficult ones, so set the rewards
at a level most likely to be attempted. For example, a little extra effort might easily result in
two extra sales a week. Rewarding a single-week increase with a gift certificate, a second
consecutive week with a larger one and third with a cash bonus over a six-week period is
attainable. Doubling sales for three consecutive weeks is probably not. Make sure that all
eligible employees understand how to win incentives and set up policies that ensure winning
is equally possible. Employees who feel winning is hopeless will not only avoid participating
but are likely to resent those that do participate. In addition, make sure that the prizes
themselves do not cause resentment. A week off might be a wonderful bonus for the winner,
but the employees left to cover the winner's work might resent it.

How to create engaging workplace incentives that impact everyone

People are integral to the prosperity of every business, and making them feel
appreciated and valued should be an essential part of every organization’s culture. This is
where incentive programmed come in.
It takes more than just pay, working conditions, appraisals and training programmed to
motivate staff. Recognizing them for their hard work and commitment to the business is a key
to keeping people happy. And, of course, happy employees and a successful workplace culture
mean reduced turnover, boosted morale and loyalty, and improved daily performance!
This short guide will take you through the key steps you'll need to go through to implement a
successful incentive programmed.

1. Define objectives
The first priority is to identify the objectives for your programmed, whether it's
reduced absenteeism, increased productivity, or an improvement in employee engagement
and happiness. It may also help to distinguish your objectives between the benefits to the
business and the benefits to the staff.
You should also consider when the best time is to start your programme– it may be
that the beginning of the financial year would suit the Finance department, but does it suit
your current projects and long-term objectives? There may be some great opportunities for
seasonal programmes that can really engage employees during times of the year where this
can otherwise be a problem - keeping people on task during the festive season, for example.
Finally, as part of your objectives and strategy, you need to decide on your audience. Will the
whole company be incentivized, or would it be more efficient to target selected employees for
a specific measurable task? Both have their benefits - the former allows you to communicate
with and engage the entire organization on the same level, while the latter can be essential
for really targeted efforts to increase performance in certain areas.

IT-20, Philippine Industries & Management

 Always ask yourself what you want to achieve, and why you want to do it - that will see
you off to a great start!

2. Create a business case

Once your objectives are in place, it’s vital to get buy-in from the board so that budget
can be allocated, and the only way to do this is to have a robust business case. Many
organizations will have a habit of putting profits before people, so even if the benefits to staff
wellbeing and morale are undeniable, it may struggle to get off the ground it it makes too
much of a dent into annual earnings.
You need to ensure that you are aware of the financial benefits and what the return on
investment (ROI) would look like for your company – remember, these need not be purely
financial. A reduction in staff turnover or an increase in positive responses to customer
satisfaction surveys are also good selling points.
While bonuses and commissions are appreciated, it's often the non-financial incentives
that make the difference to an employee's experience and opinion of a company. These could
include awards, extra annual leave, gifts, social events, and the use of a company car.
Not only do rewards like this give staff a little something extra, it also contributes to a fantastic
workplace culture - one that celebrates success publicly and often, one that encourages people
to get to know each other, and one that incorporates more than a little bit of fun into the daily
grind!

3. Communicate and consult

It’s no good having an efficient incentive programmed unless you communicate it. That
means talking to your employees about how the scheme works, the choices available, and how
best to enjoy them.
Communication is key in ensuring your programmed is successful. However, 45% of
organizations find it to be the biggest challenge due to the number of employees, geographic
spread of locations, and staff demographics.
It's important to communicate with your employees on a regularly basis, across multiple
channels and media such as notice boards, company intranet, SMS, posters, emails, or
newsletters. It is also worth consulting the relevant Trade Unions to ensure all elements of
your programmed are equal, above board and accessible to all.
Incentives need to be simple and easy to understand, otherwise people won't engage
with them. A lot of this comes down to making sure they're communicated to employees in a
way that makes sense, and that people are on hand to answer any questions, with consistent
reminders to make sure that people don't forget all about them a week later.

4. Keep it personal
One of the first challenges that many companies face when motivating staff is choosing
the most effective incentive mechanism. There’s not much point in choosing one incentive for
the entire workforce, as you’re never going to appeal to everyone. What one person may love,
another may not find motivating or valuable at all.
Differences can be down to demographic (age, gender, etc.), job role, and even just
personal taste - so it's important to make sure there's an element of personalization to ensure
there's something for everyone.
Also, involving staff in the incentive selection process will improve participation and
take-up of your scheme. One idea is to let staff select their own incentives – this can be from
a predetermined list that's tailored to the participants’ interests. Gift cards, e-codes and
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vouchers are often the most popular rewards for incentive and recognition programmed, as
they can provide a great deal of choice and freedom in how and where people use their
reward.
Targets should also be personalized where possible, ideally based on job specifications
and responsibilities. First, allocate individuals with a goal, followed by the whole team - that
way all levels of staff are motivated, and the targets they're aiming for become achievable and
relevant.

5. Measure and evaluate

Above all, an incentive scheme must offer ROI for your business. But our research
shows that measuring the impact of an incentive programmed is one of the top challenges for
63% of organizations. How do you do it?
Start by looking back to the beginning of the programmed, and evaluate whether the
original objectives were achieved. Having key performance measures in place and routinely
evaluating them can help to calculate this. Performance indicators will vary depending on each
programme's objectives, but can include measures such as staff turnover, absenteeism,
employee engagement, and satisfaction.
Some of these factors are slightly more objective than others - you could try using staff
surveys to measure staff satisfaction, and compare results over the course of a year.
Monitoring the programmed throughout the year is important to identify peaks and troughs
in both take-up and performance, which allows you to adjust the level of communication or
managerial input where needed. It's also vital to regularly seek feedback from employees so
they feel involved, and are motivated by the prospect that the programmed will reflect their
interests.

IT-20, Philippine Industries & Management

 Testing Your Brain Power:
How Much Have You Learned

Identification: Read the following statements and write your answer on the space
provided.

1. The most controlling style of the management.

2. A management where there is little trust or confidence to the
employees.
3. Type of management that is versatile with the advantages of
having more diverse perspectives involved in decision making.
4. Management style where the trust and confidence s placed in
the employees and management actively seeks out their
opinions.
5. Management trusts the employees completely and not only
seeks out their opinions and ideas.
6. Management style communicated extensively with
employees and make decisions by the majority.
7. Management style that involves little or no interference from
management.
8. It allows employees to take full responsibility of their work
areas.
9. Style of management that is particularly useful in
organizations with hierarchical structures where
management makes all of the decision.
10. A management style that require constant teaching and
coaching of the staff as well as consistent supervision.

IT-20, Philippine Industries & Management

 Developing Your Higher Order Thinking

What are the five steps to a successful incentive programme? Explain each.

What do employee incentives consists of at work?

“Chase the vision, not the money,

the money will end up following
you.”

----Tony Hsieh – CEO of Zappos---

IT-20, Philippine Industries & Management

 Learning Resources

Fajardo, Feliciano R. (1997) Management, Rex Book Store, Inc.

Franco, Ernesto A. (1986), Pinoy Management. National Book Store Inc.,

Tan Tek Meng et al. (1996), Business Opportunities in the Philippines. Singapore: Nanyang Business
School, Prentice Hall,

Zulueta F. et al. (1999) Management: theories and Practice. Mandaluyong City: Academic Publishing
Corp.,

[Link]
philippines

[Link]

[Link]

[Link]
identify-more-business-opportunities/

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