Harvard Business School (HBS) professor and best-selling author Clayton M. Christensen built his reputation on his disruptive innovation theory. The theory is central to the courses he teaches at HBS, which deal with setting up and sustaining companies. His book, The Innovator’s Dilemma “received the Global Business Book Award as the best business book of the year in 1997.” The Economist named it one of the six most important business books ever written.
But Dr. Christensen is perhaps best known for his 2012 The New York Times best-seller, How Will You Measure Your Life? The book evolved from a series of observations and classroom discussions. The observations seem to have focused primarily on Dr. Christensen’s own HBS MBA classmates’ careers, families, and reputations over the years following graduation. From those observations—and taking off from the theories Dr. Christensen taught in his classes—he began a series of conversations on the last day of each of his classes with his students.
Does it seem curious to you that the National Economic and Development Authority (NEDA) singles out overseas remittances when announcing how fast the economy is growing, but lumps IT-BPO—the nation’s most efficient job generator at home—into a basket of miscellaneous services? About 10 million overseas Filipino workers (OFWs) remitted $15.57 billion in the first three quarters of 2012. The World Bank forecasts total remittances for the year of $24 billion.
Given these numbers, it’s not hard to understand why NEDA places such prominence on the contribution of OFWs to the economy, and its “inclusive” effect on the masses, presenting a trickle down opportunity to partake of the fruits of economic growth. In a statement announcing the Philippines’ impressive 7.1% third-quarter expansion NEDA secretary Arsenio M. Balisacan said remittances increased precisely 4.2%.
Healthcare information management (HIM)—a sector of the IT-BPO industry—grew more than 170% last year, employed almost 25,000 mostly healthcare professionals, and generated close to $300 million in revenue. Those numbers pale compared to the IT-BPO industry overall, which will generate more than $13 million this year and employ 770,000 Filipinos in a wide variety of voice and non-voice sectors.
But HIM is not only the fastest-growing sector of the IT-BPO industry, it has huge revenue and job-generating potential for Filipino healthcare professionals. According to international market research firm MarketsandMarkets, HIM is growing at an annual rate of 21.4% and will become a $330 billion dollar industry by 2016, making it substantially larger than the IT-BPO industry, which is forecast to grow to $260 million that year by Everest.
“Mr. President, we have three main messages for you,” Business Processing Association of the Philippines (BPAP) chairman Alfredo Ayala said Tuesday afternoon in remarks welcoming Philippine President Benigo S. Aquino III to the International Outsourcing Summit (IOS). “Thank you, so far so good, and what lies ahead.” 2012 has been another banner year for the Philippine IT-BPO industry, and the industry is increasingly well positioned to address the inevitable challenges ahead, in significant part because of an effective partnership with government.
During the three-day IOS—the fourth in a series of annual meetings—BPAP officials announced that industry revenues are expected to reach US$13.4 billion this year, a 22% increase from $11 billion in 2011. Direct employment will increase to more than 770,000, up from 638,000 at the end of last year. Next year, IT-BPO revenues—including voice and non-voice services—is projected to reach $16 billion and the industry to employ 926,000 Filipinos.
Approximately 200 parishioners from the Diocese of Parañaque spent last Monday morning debating issues of good governance and transparency and accountability in one of the Philippines’ largest—and most influential—institutions. No, they weren’t concerned—at least that day—with national or local governance issues. Or the private sector and shareholder rights. The concern was the way the Catholic Church, at least in Parañaque, is being administered.
Here’s the background. Back in June, rappler.com published an investigative report entitled, “Bishop accused of diverting millions.” It reported that second collections intended for victims of Typhoons Ondoy and Sendong, the 2010 Haiti earthquake, and a 2010 Muntinlupa fire, along with other special donations, were diverted, and in a substantial way. Of P7.4 million in donations, over P3.3 million was diverted, apparently in violation of Canon Law article 1300, which states, “intentions of those who give goods to pious causes, once they are lawfully accepted, must be carefully observed.”