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WE ARE LIVING IN CHALLENGING TIMES. The effect of global issues related to climate change, energy, food security and more recently the subprime meltdown are imminent concerns which we need to face. As graduates of the Asian Institute of Management, it continues to be our duty to make a positive impact on our societies through our leadership in business and government institutions around the world, to effectively address these challenges with decisions best for our companies and our communities. According to the IPCC 4th Assessment Report, devastating impacts will result when a 2oC in global mean temperatures is reached. Though now we stand at 0.7oC above pre-industrial levels, the security on human settlements, community livelihoods, infrastructure, biodiversity, energy and peace around the world are threatened because of climate change. An increase in food prices as an offshoot of this environmental issue has increased poverty levels by 16.8% according to a recent study by ADB. It is the poorest of the poor who feel this decline most compared to other segments of the population. It is to our advantage that the local banks have been equipped with lessons learned during the hubris lending in the ‘90s and have thus so far remained healthy and liquid. According to Nestor Espenilla Jr., Deputy Governor for bank supervision and examination of BSP, the Philippines remains protected from complications arising from events in both US and Europe because investment is limited to local sources instead of international capital markets, and that the banking industry 8j^iX[lXk\jf]k_\8j`Xe @ejk`klk\f]DXeX^\d\ek# continues to be awash in cash. Nevertheless, `kZfek`el\jkfY\fli[lkpkf it will be interesting to note what the future dXb\Xgfj`k`m\`dgXZkfefli jfZ`\k`\jk_ifl^_flic\X[\ij_`g may bring to shores closer to home. `eYlj`e\jjXe[^fm\ied\ek The Asian Institute of Management `ejk`klk`fejXifle[k_\nfic[%%% continues to do its part in raising public awareness of the issues—its challenges, consequences, and the underlying opportunities that may be unraveled amidst worldwide concerns. The AIM Policy Center, the Institute’s think tank on research, in cooperation with the Konrad Adenauer Stiftung, UN World Food Programme, and the International Alert recently organized a forum on Energy, Climate, & Food Security: Responding to Global Challenges through Regional Cooperation and Public-Private Partnership. On October 17, 2008, AIM organized a forum, “Subprime Earthquake: Aftershock Scenarios—LeaderSpeak About Asian Business Prospects, Post-Subprime, and TARP (Troubled Asset Relief Program)” which presented experts’ observations on the subprime meltdown. This issue of the AIM Alumni Leadership Magazine invites you to engage through the insights of our experts through these related fora, to encourage participative and responsible corporate leadership, values and decision making from the managerial community. Scenario planning for alternative futures will help prepare us to face a hopefully brighter 2009, while we attempt to glean the opportunities amidst these global challenges.

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AT NO OTHER TIME in recent history have we palpably felt the effects of climate change and its global impact on energy and food security than this year— the year when gasoline prices skyrocketed to levels almost unimaginable and when the rice shortage knocked at our very own doorsteps to signal that something was definitely awry. And although we have not yet started feeling the full impact of the US sub prime meltdown on our shores, we continue to wait in hopeful but bated breath, that the consequences may be cushioned by national and regional economic policies to protect this area of a now flattened world. As we end 2008, the AIM Alumni Leadership Magazine focuses on the global issues that confront us today. We are only hopeful that as a new year begins, policies, perspectives and proceedings can only improve in the next months to come. As leaders and managers, we must prepare scenarios and organize ourselves for the challenges that the year has presented, and which the next year and the next generations must face. We are grateful to Dr. Federico Macaranas, Executive Director of the AIM Policy Center, for his generosity in sharing valuable material for this issue. Along with Konrad Adenauer Stiftung, UN World Food Programme, the International Alert, the Philippine Business Leaders Forum and significant partners, the Policy Center held the forum “Energy, Climate and Food Security Conference: Responding to Global Challenges through Regional Cooperation and Public-Private Partnership” last August. This foray marks another step initiated by the Policy Center in raising awareness on the issue on climate change to bring about policy recommendations, and adaptation and mitigation strategies. AIM also held a forum last October on the “Subprime Earthquake: Aftershock Scenarios” where Dr. Macaranas spoke on “The Global Financial Crisis: Impact on the Real Side of the Philippine Economy.” He generously shares his lecture with AIMLeader readers. Dr. Macaranas has recently been chosen to receive The Outstanding Filipino (TOFIL) Award for 2008 for Community and Humanitarian Service.


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To recognize individual efforts in preserving the environment, we focus our spotlight on alumni and AIM leaders, who, through their admirable initiatives have increased awareness in the importance of caring for nature’s generous resources: Mr. Von Hernandez, PDM 2007, campaign director of Greenpeace Southeast Asia, Fr. Tito Soquino, MDM 1999, a “diving priest” who advocates for the conservation and protection of the Lagundi Reef in Cebu, and AIM Professor Dr. J.R. Nereus Acosta, the principal author of the Clean Water Act and Clean Air Act of the Philippines. As a special gift to all AIM alumni worldwide, the Alumni Relations Office presents the new AIM Alumni Portal this January 2009, which includes an online version of the AIM Alumni Leadership Magazine. This is in response to a survey we conducted where majority of respondents requested for both print and online versions of the magazine. It has always been the goal of the editorial team to expand the reach of the AIMLeader, and this maiden issue of the online version coincides with our commitment to the environment. It is also an answer to the need to provide the publication for free to all alumni! 8jXjg\Z`Xc^`]kkfXcc We invite all 8@DXclde`nfic[n`[\# k_\8clde`I\cXk`fej alumni to continue F]ÔZ\gi\j\ekjk_\e\n to help us update 8@D8clde`GfikXck_`j the alumni database AXelXip)''0#n_`Z_ `eZcl[\jXefec`e\m\ij`fe by registering f]k_\8@D8clde` in the new alumni C\X[\ij_`gDX^Xq`e\% website, and to encourage batch mates to visit www.aimalumni.org as we continue to develop services that are relevant and unique for the AIM alumni community. Needless to say, we will be grateful for your continuous support, particularly in ad placements for both the print and online versions. You may send your comments and feedback to aimalumni@aim.edu or aimleader@gmail.com. A blessed 2009 to one and all! God bless!

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E<NJ a more stable and integrated ASEAN community; and (2) to promote collaboration, resource complementation, and capacity building among ASEAN-based corporate foundations. The network will allow the identification of current initiatives and issues confronted by corporate foundations in ASEAN. It will also permit the identification of gaps among CSR programs of ASEAN countries. It will determine best practices and promote the exchange of learning/experience with a view of replicating Gi`eZ`gXcj`^eXkfi`\jXi\]ifdC Gif]%=\c`g\9%8c]fejf#\o\Zlk`m\[`i\Zkfif]k_\8@DÆIXdfeM%[\cIfjXi`fJi% proven successes across the region, :\ek\i]fi:figfiXk\JfZ`XcI\jgfej`Y`c`kp2Di%=iXeZ`j<jkiX[X#gi\j`[\ekf]8@D2;i%=`c\dfeLi`Xik\Ai%#\o\Zlk`m\ [`i\Zkfif]k_\8J<8E=fle[Xk`fe2Xe[Dj%I\e\cc\@mp8[Xe#gif^iXdZffi[`eXkfif]k_\8J<8E=fle[Xk`fe especially in the Cambodia-LaosMyanmar-Vietnam area. The project will be managed by the AIM-Ramon V. del Rosario Sr. Center for Corporate Social Responsibility (RVR CSR Center). Launched in 2000, the AIM-RVR CSR Center is one of the first ASEAN Foundation supports project to be implemented by AIM research centers in Asia concentrating on corporate responsibility opment and poverty alleviation, at the intra-regional level.” AKATI CITY, issues. Its main thrust is the manand their potential to help promote agement of corporate citizenship These are the compelling Philippines people-to-people interaction and —the ASEAN reasons behind the project Prorelative to the competitiveness of greater ASEAN awareness. We envi- corporations and its impact on moting Mutual Assistance Among Foundation sion establishing a network closely and the Asian Corporate Foundations in ASEAN, society. It promotes CSR through linking these groups to put synergy case writing, research, survey funded by the ASEAN FoundaInstitute of Management (AIM) into their development efforts, tion through the Japan-ASEAN signed on October 13, 2008, the research, investigative research, particularly on CSR initiatives and contract for the project Promoting Solidarity Fund. The project program development, executive poverty alleviation, and to make Mutual Assistance Among Corpo- will have three phases: first, the education training, and local and building of a database of corporate them partners in promoting aware- regional conferences. The Center rate Foundations in ASEAN. ness of the ASEAN identity.” The establishment of corporate foundations in ASEAN; second, is in the process of establishing Other objectives of the project and creating its own network the organization and activation foundations has been a growing are (1) to share knowledge of a Network of ASEAN Corporate trend in Southeast Asia as large in the fields of CSR and corpoamong corporate foundations on Foundations; and finally, the private enterprises finance and rate governance, collaborating best practices and new, emerging with counterpart organizations carry out their respective corporate development, coordination, and frameworks and strategies that implementation of a proposed social responsibility (CSR) throughout the region. program of action that would ben- will help integrate corporate citiprograms. “However, there is lack The first phase of Promoting zenship into the core of business efit the network members and the of information on these corporate Mutual Assistance Among Corpoto inspire and motivate organiza- rate Foundations in ASEAN will ASEAN community as a whole. foundations and the different CSR tions to undertake meaningful “The overall objective is to programs they are implementleverage on the RVR CSR Center’s actions that will help develop establish an independent, selfing across ASEAN (Association of Asian Forum on Corporate sustaining network of ASEAN corSoutheast Asian Nations),” noted Social Responsibility to be held porate foundations with the ASEAN È%%%k_\i\`jXjp\kef AIM President Francis G. Estrada. in Singapore in November 2008. Foundation as key convenor,” said “At the same time, there is as yet 8J<8E$n`[\XjjfZ`Xk`fe AIM expects more than 550 parno ASEAN-wide association of cor- ASEAN Foundation Executive Direc- f]ZfigfiXk\]fle[Xk`fej% ticipants from the Asian business Fe\ZXe`dX^`e\k_\ porate foundations. One can imag- tor Dr. Filemon A. Uriarte Jr. “The sector, particularly ASEAN-based `dd\ej\Y\e\Ôkjk_Xk n`ccXi`j\j_flc[j`d`cXicp corporate foundations, as well as ASEAN Foundation recognizes ine the immense benefits that will dfk`mXk\[ZfigfiXk\ the important role that corporate arise should similarly motivated ]fle[Xk`fejZfccXYfiXk\Xk from civil society, governments, foundations play in human develcorporate foundations collaborate and academe. k_\`ekiX$i\^`feXcc\m\c%É

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AIM Alumni Gathering in New York AIM Alumni East Coast Chapter Hosts Visit of AIM President Francis Estrada


HE AIM ALUMNI EAST Coast Chapter hosted a gathering of alumni last October 1, 2008 at the Philippine Consulate in New York. The event was held to welcome AIM President Francis Estrada who gave an overview on AIM and its unique position as an Asian management school in the midst of significant changes happening in the global economy. Mr. Estrada also focused on AIM’s unique strengths, especially in terms of domain expertise, such as in family corporations, and knowledge of Asian business culture. He also presented a new initiative on the

US Federal Funding Assistance for US citizens who want to study at accredited institutions which now include AIM. AIM Alumni East Coast Chapter Chair Mark Sanchez also shared his own experience as an AIM student and pointed out the rigors of AIM and how an AIM education compares very favorably with that offered by leading US universities. He also emphasized the importance of giving back to one’s alma mater and he concretized this by handing over to Mr. Estrada a check for four hundred dollars from the East Coast chapter. Mr. Estrada

thanked the alumni for this commendable gesture and said that the check is “worth framing.” Also present during the event were East Coast Chapter officers Michelle Boquiren, Jocelyn Bernal, Martin Marty and Rowena Venturina. Prof. Sonny Coloma as well as other alumni participants including two from New Jersey also attended the occasion.

They were additionally joined by around ten interested participants who signified their intention to consider joining one of AIM’s degree programs. The event was generously sponsored by AXA Advisors, GM Printing and Alumni members Rowena Venturina, Michelle Boquiren, Mark Sanchez and Jocelyn Bernal.

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Nfic[I\c`^`fejLe`m\ijXc G\XZ\>cfYXc<k_`Z THE AIM POLICY CENTER together with the Konrad Adenauer Stiftung (KASPhilippines) proudly bring to the Philippines the world renowned exhibition on “World Religions—Universal Peace— Global Ethic.” The exhibit was formally opened on October 9, 2008 through a brief ribbon cutting ceremony at the Asian Institute of Management, led by AIM Dean Victoria Licuanan, Mr. Klaus Preschle of the KAS, and AIM Policy Center’s Executive Director Dr. Federico Macaranas. The exhibit consists of 26 posters that feature several world religions, namely Hinduism, Confucianism, Buddhism, Judaism, Christianity, Islam, the Baha’i Faith, as well as indigenous spiritualities. It mainly highlights common values and ethics between these religions leading towards the concept of a “Global Ethic.” This exhibit was envisioned to educate the people and foster their understanding on the different religions that can eventually be a -

source of peace and unity. The exhibition has been shown at the 2nd ASEM Foreign Ministers Meeting in Hamburg, Germany and at the Singapore National Library earlier this year. It will be making its tour in the Philippines from our institute to the SM Mall of Asia, Davao, Pasay, Ateneo de Manila, University of Santo Tomas, and the Manila Hotel from November to December 2008. The exhibit schedule is available through www.kas.de The exhibit ran from October 9 to October 16, 2008.

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Jkl[\ekj:\c\YiXk\<`[ EID UL-FITR, THE FEAST of Ramadan that fell on October 1 this year, was celebrated with a sumptuous buffet and a gathering of friends at the AIM campus on October 3, 2008. The AIM International Muslim Students Association (IMSA) organized the celebration and was sponsored by the Students Services, Admissions and Registrar’s Office (SSAR). “This is a wonderful event this year because it shows the diversity in AIM. I know you face the diversity in class every-

day but it is through gatherings such as this that you enjoy and learn more about the diversity that is very important in our world today,” says AIM Dean Vicky Licuanan in her opening remarks during the event. Professors Nieves Confesor, Larry Tan and Purba Rao, and SSAR Director Rey Reyes graced the event. Of the current AIM student population, five percent are Muslims. Eid ul-Fitr is a regular holiday in the Philippines.

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8@DBfi\X8clde`8jjfZ`Xk`fe JgfejfijD98Jkl[\ek THE AIM KOREA ALUMNI Association sponsored MBA student Ms. Rosie Avila by supporting her International Student Exchange Program this September. Ms. Avila was assigned to the KAIST University in Korea. Mr. Johnny C Y Jeong, MBM 1980, the new president of Korea Alumni Association succeeded in raising USD $3000 for Ms. Avila, to support her plane fares, accommodation for four

months and incidentals. Ms. Avila hails from Guinobatan, Albay. Her AIM stint was put on hold due to the devastation brought about by the recent typhoons, until she was granted an ADB scholarship. She now ranks 7th in her batch and hence qualified for ISEP. AIM is grateful to the Korea Alumni Association for its staunch support for the student and alumni community.


AAAIM Family Day ‘08


HE AIM ALUMNI Association-Philippines during the Alumni Family Day 2008 honored members of the Special Olympics Philippines and the Payatas Community, who were the major beneficiaries of this noble activity, on October 4, 2008 at the San Lorenzo Park, San Lorenzo Village, Makati City, Philippines. The special athletes and the Pharex Medics team of the Philippine Basketball League displayed their skills in a basketball competition in the morning. Highlights of the afternoon were a badminton exhibition with the special athletes versus some AIM alumni, various fun games, and a song number by the Payatas Community chorale. “The aim of the games was to


inform the community that intellectually disabled Filipinos are just as capable of performing “regular” activities if they are provided the opportunity to do so. These events are part of the mission of Special Olympics Philippines to provide year–round sports training and athletic competition in a variety of Olympic-type sports for children and adults with intellectual disabilities, giving them continuing opportunities to develop physical fitness, demonstrate courage, experience joy and participate in a sharing of gifts, skills and friendship with their families, other Special Olympics athletes and the community,” said Mr. Alex Babst, National Executive Director of the Special Olympics Philippines. The Family Day, with the theme “Stand Up for Love,” raised P100,000 each for its beneficiar-

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ies. Ms. Celine Bautista, Secretary of the AAAIM Philippines, spearheaded the activity. Smart, Petron, Barangay San Lorenzo through Barangay Captain Jay Santiago, Julie’s Bakeshop Franchise, Pharex, Stradcom Corp., Coca Cola Bottlers, Department of Education (Philippines), Philamlife, ING Bank, Security Bank, SM Investment, Selecta Ice Cream, Tentay Patis, Nestle, Manila Ocean Park, Trio Restaurant, Holy Family Printing Corp., Protection Technology Inc., AGP Advertising, ISSI, ANE Printing Master, Lizamen Printing Services, New A Plus, Brand WorX, Inc., Medi Marketing

Inc., Tri-Mark Foods, Inc., Bacolod Chicken Inasal, Tapa King, Brothers Burger, International Movement for Development Managers (IMDM), Triumph, AIM Conference Center Manila (ACCM), AIM Alumni Relations Office, Washington SyCip, Alex Tanwangco, Roberto Garcia, Teddy Villanueva, Ramoncito Abad, Robert Yupangco and Ms. Gigi Garcia of Ace Saatchi sponsored the event. Special Olympics Philippines is a part of the international organization with 169 countries and 2,000,000 registered members worldwide. It was founded in 1968 and managed by the Kennedy Foundation.


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New Zealand Ambassador visits AIM HIS EXCELLENCY ANDREW MATHESON, NEWLY APPOINTED Ambassador of New Zealand to the Republic of the Philippines paid a courtesy call to Mr. Francis Estrada, President of AIM on October 21, 2008. Ambassador Matheson expressed his desire to promote exchanges and joint programs between leading New Zealand business schools and AIM. He also expressed his intention to introduce the Chairman of the New Zealand-Asia Foundation to AIM when he is in Manila next month. 9lep\kXb`e^_`jfXk_Y\]fi\9JG>fm\iefi8dXe[fK\kXe^ZfAi%n`k_Dfe\kXip 9fXi[D\dY\iE\ccp=Xm`j$M`ccX]l\ik\Xe[8kkp%9feZXe

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N SEPTEMBER 10, 2008, more than fi fty WAC reader volunteers extended their generosity by donating to the AIM Philanthropic Activities Society (PACTS). The WAC readers donated their token fees of P180 (net of taxes) per WAC, which totaled to P60,570. “The volunteers said they were in it not for money, but to help AIM. They were also gung-ho and almost nostalgic, wanting to do the WAC to feel like a student again,” Washington SyCip Graduate School of Business (WSGSB) Associate Dean Prof. Ricky Lim said. In June 2007, the WSGB through Associate Dean Prof. Ricky Lim invited alumni volunteers to be WAC readers for the MBA students. More than one hundred graduates joined the program as their way of giving back to the school. The WAC (Written Analysis of Cases) is an academic requirement for the MBM/MBA students as a drill to sharpen thinking skills and has become a tradition at AIM. The WAC experience left many treasured memories with the alumni, surpassing MRRs or field studies. “It seems WAC has burned a collective memory in all alums,” says Prof. Lim.

“Of Friday nights sweating it out in the dorm lobby or by the pool, lots of cigarettes and coffee, laptops (or typewriters, if you belonged to a different era) blazing into the wee hours of the morning, and of course, haggard-looking, droopy-eyed, exhausted classmates by submission time. You were not the only one doing it—you had 100+ other classmates poring over the same case, trying to make heads or tails of it. This was not just a personal agony—it was a group experience.” Some WAC readers returned all their papers back with nothing but U’s. “Stockholm syndrome, I’d say,” smiles Prof. Lim. “—the prisoners sympathizing with the jailers. Of course we had to adjust some of these scores, or else we’d permanently traumatize the student body.” To many alumni, the WAC was a grand tradition, an experience to be treasured. The alums were almost admonishing the current students, “WAC helped in my thinking process!” One WAC reader even requested Prof. Lim for a special lecture on QA. Prof. Lim continues to invite alumni to join the WAC Readers Program. “We definitely need continuous alumni help, what more now with our September and May batches, as well as larger

classes. We need all the WAC readers we can get. Please sign up—email me at ralim@aim. edu, and I will slot you in. Your reading load need not be more than five WACs per three weeks, not a bad load at all. All we ask is that you give the students max feedback and comments on his or her WAC performance, and that you give us feedback quickly. “We appreciate the alums’ help on this important tradition. Please keep it alive—volunteer to be a WAC reader. Salamat.”

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Illustrations by Panch Alcaraz


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Acting Director General, Regional and Sustainable Development Department, Asian Development Bank

Sustained and accelerated growth over the past three decades has transformed the region into the most economically dynamic and vibrant region in the world. However, rising prices for food and energy, and the pressing issue of climate change now threaten the hard-won battle for poverty reduction in the region. >>


HE RECENT SPIKE IN GLOBAL FOOD PRICES threatens to push large numbers of people back below the poverty line including many millions in developing Asia. For decades, food prices in real terms had been on a long-term decline trend. This long-term trend took place despite rapid income and population growth, as agricultural productivity continued to rise. High agricultural productivity and low food prices enabled millions of people to escape from poverty. What has caused the recent spike in food prices? And what can be done to address the impacts and implications of rising food prices? There have been many studies on these questions. I highlight a few key structural and policy factors that underlie the rising food prices. A structural shift in demand, particularly for food was created by the average 7.4% growth in gross domestic product in Asia since 2000. Increased food consumption and a greater demand for meat from a population with higher incomes bolstered the need for grain and feed stock. While demand has increased, production has not and agricultural productivity remains low or stagnant. Agricultural production is unable to meet the demand due to low capitalization and under investment in agricultural research and development. Moreover, demands for land and water from growing urbanization, coupled with rising energy prices have increased the costs of fertilizer, irrigation and food transport. Our research estimates the input cost increases were in the range of 30-50 percent in the past year. Biofuel production in Europe and the United States has also driven up the prices of agricultural commodities such as corn, soybean and palm oil, which are primary feed-stock for ethanol and bio-diesel production. Indeed, biofuel represents a new and emerging link that connects food, energy and other markets. Traditionally, we see energy prices working their way on food prices through farm input costs. Biofuel changes that traditional perspective. Biofuel production based on corn as feedstock has become a more immediate agent driving food prices, as the demand for biofuel feedstock competes directly for grains for food. And increasing biofuel production also competes for land and water resources for producing feedstock versus for food grain. The recent studies also point out that haphazard policy reactions by exporting and importing countries may have accentuated the price hikes, especially in the rice market. Food prices have dropped

somewhat in recent weeks. However, the emerging view is that food prices are unlikely to further drop drastically in the near future. We will have to learn to live with high food prices. What then are the policy implications? Rising food prices have contributed to an acceleration of inflation across the Asia and Pacific region. The rise in food prices is worrisome precisely because food price inflation is the most regressive of all taxes—it hurts the poor the most. In the immediate term, carefully targeted assistance to the poor is essential in terms of food and inputs necessary to increase food production. For the medium and long term, reevaluation of investment priorities and feasibility of agricultural projects must be undertaken in light of the price developments, accompanied by stronger efforts to boost agricultural productivity growth. As part of this long-term measure, increasing knowledge for area-specific adaptation measures is essential to reduce vulnerability of food crops against 8]le[Xd\ekXcn`e$n`e climate change. gfc`ZpZfeZ\ie`jkf\ejli\ I have noted the linkage \e\i^pj\Zli`kpXe[kf between energy and food gi\m\ek\em`ifed\ekXc prices in the case of biofuels. [\^iX[Xk`fe%:fek`el\[ [\g\e[\eZ\fe]fjj`c]l\cj There are other linkages as Xj`kjgi`dXipjfliZ\f] well. This is especially so when \e\i^p^\e\iXk`fen`k_flk looking at the region, we find dXafik\Z_efcf^`ZXc that Asia and the Pacific is still Z_Xe^\`jlejljkX`eXYc\% home to about 1 billion people who still lack access to electricity. Clearly, energy is needed to drive economic gains and underpin inclusive growth. Asia needs an estimated $6 trillion in investments in new energy infrastructure by 2030. Rising oil prices in recent years have made energy security an immediate and more intimate concern for developing country policy makers. Improving energy efficiency in all sectors, searching alternative sources of energy including biofuels are among measures that many countries are developing and implementing. Here I must note with compliment the initiative recently taken by the Philippine government that aims to make significant progress towards achieving energy efficiency. A fundamental win-win policy concern is to ensure energy security and to prevent environmental degradation. Continued dependence on fossil fuels as its primary source of energy generation without major technological change is unsustainable. The baseline

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situation for Asia is quite challenging. Twenty-nine percent of the world’s energy-related greenhouse gas emission comes from Asia because of its high dependence on fossil fuels. This figure is three times what it was three decades ago. About 70% of Asia’s energy needs are dependent on fossil fuels, which is a primary source of greenhouse gases. If this continues, Asia’s growing emissions could further increase to 42 percent by 2030 in a “business as usual” scenario. At the global level, the current trajectory of greenhouse gas emissions could cause global mean temperatures to continue to rise and this will have an ever greater impact on the planet’s complex climate systems. In turn, climate change threatens the remarkable economic growth trajectory that the region has been on for the past 30 years. The poorest people in the poorest countries are expected to suffer first and greatest because of their geographical location, low incomes, limited institutional capacity, and greater dependence on climatesensitive sectors such as agriculture. In one sentence, the consequences of climate change hold important distributional implications. Addressing climate change in and out of itself is fundamentally a development policy concern and an imperative towards achieving the Millennium Development Goals. The worrisome picture that the rapid rise of Asia’s share of GHG emissions along with energy and food price increases, actually, also comes with the opportunity for the region to transition towards a more sustainable and equitable growth path. Developing countries will have a chance to share in the planet’s wealth if they choose to approach economic development by moving directly toward more efficient and sustainable solutions. Economies must transition to a low-carbon development path. Sustainable and equitable economic growth calls for cleaner and more energy-efficient technologies, alternative energy sources, meeting gaps in knowledge, increased energy access, and stable <Zfefd`\jdljkkiXej`k`fe kfXcfn$ZXiYfe[\m\cfgd\ek food and oil prices. gXk_%JljkX`eXYc\Xe[ At the same time, \hl`kXYc\\Zfefd`Z^ifnk_ development, through ZXccj]fiZc\Xe\iXe[dfi\ improvements in \e\i^p$\]ÔZ`\ekk\Z_efcf^`\j# income, education, Xck\ieXk`m\\e\i^pjfliZ\j# health care, d\\k`e^^Xgj`ebefnc\[^\# infrastructure, `eZi\Xj\[\e\i^pXZZ\jj#Xe[ disaster preparedness, jkXYc\]ff[Xe[f`cgi`Z\j% and other public services could reduce vulnerability to climate change. Good governance, which is accountable, predictable, transparent and participatory, at both the national and sub-national levels, can provide the foundation upon which climate change efforts can be delivered at the country level. On the one hand, governance can be seen as an enabler, attracting both overseas development assistance as well as investments from the private sector, which is particularly suited to investments in climate change mitigation. Conversely, poor governance, weakly performing institutions and vulnerability to corruption could put at risk the very programs and investments designed to respond to the challenges posed by climate change. Let me now turn to what ADB is doing to support our developing


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member countries to the three issues of food and energy security and climate change. In response to food price crisis, ADB considers that in the short term, governments should create safety nets for the poor. As our President Haruhiko Kuroda announced during the ADB Governors’ Annual General Meetings in Madrid last May, ADB is making $500 million ready as safety nets to protect the poor and vulnerable. This is provided as immediate budgetary support to the hardest hit countries in Asia and the Pacific. As part of our medium term response, ADB is planning $1 billion for agricultural and natural resources lending in 2008 and doubles it to over $2 billion in 2009. The scaled up financing is for upgrading infrastructure, improving agricultural technology, increasing productivity, addressing post-harvest loss, and providing education in rural areas. Capital investment financing alone is not enough. ADB is working with our developing member countries to improve institutional capacities and governance for efficient and effective service delivery in rural areas. ADB is further committed to support long term agriculture research for relevant international and national research centers. ADB is also committed to taking a leadership role in helping our developing member countries respond to environmental degradation and climate change and to create a more sustainable future. We are continuously mainstreaming climate change considerations into our operations and we have established implementation plans in key sectors such as energy, transport, urban development and agriculture. Three years ago, we launched an Energy Efficiency Initiative that set a target of increasing our investments in these areas to $1 billion per year by 2008. We have met that $1 billion target in the first week of June. We are working to sustain and even increase this clean energy investment target for the next two years. Our Carbon Market Initiative, launched in November 2006, provides additional financial resources and technical support for projects eligible of developing member countries under the Clean Development Mechanism (CDM) during the development stage. To go beyond 2012—the end year of Kyoto Protocol, we recently launched the Future Carbon Fund (FCF) that will provide project financing for carbon credits up to year 2020. Emissions from land use change are gaining increasing attention in the region and the so-called “Reduced Emissions from Deforestation and Degradation” (or REDD) is expected to be part of the post-2012 global climate change regime. ADB is supporting efforts to reduce emissions from deforestation and land use change on a pilot basis through selected interventions and partnerships in priority regions. Even the most rigorous mitigation will not prevent near-term impacts because significant climate change is already inevitable from past emissions. This highlights the critical importance of supporting our developing member countries to adapt to climate change impacts. We have ramped up our Climate Change Program (CCP) with vigorous adaptation measures to be put in place in developing member countries over the next few decades to improve climate resilience particularly of vulnerable communities. Under the adaptation program, we are working with our client countries, to incorporate climate change concerns into national and sector development planning. Country and sector development roadmaps are being adjusted to incorporate climate change

considerations. We are developing screening tools to assess projectlevel risks with adjustments to be made to future investments. All these adaptation measures will include specific attention to protecting vulnerable people, including health and gender considerations. ADB recently adopted a new long term strategic framework, or Strategy 2020, which sets clear strategic directions, goals, and objectives for ADB over the next 12 years. The Strategy 2020 emphasizes on inclusive and environmentally sustainable growth and on regional cooperation and integration. Our work in the areas of food and energy security as well as climate change well reflects this strategic priority. In closing, I would like to bring together explicitly three points that I have discussed. First, Asia and the Pacific region is at a turning point in terms of continuing with high and sustainable economic growth and social development. I would note that the concerns over food prices, energy security and climate change are the “tipping points,” leading policy makers in developing members and regional development institutions

to examine and explore strategic options for a more sustainable future. Second, the three concerns are intimately interrelated with one another. It requires a comprehensive and holistic perspective to understand the underlying linkages especially when examining and exploring policy and investment solutions to address anyone of them. Third, the comprehensive and holistic perspective is important not just for policy making within a national boundary. It is also called for at regional and global level. This is because the effects and impacts of the three concerns travel beyond national boundaries. Regional and global collective action is a must. As a regional multilateral development institution in Asia and the Pacific, ADB is firmly committed to support our developing member countries to address these concerns. We see them as among the fundamental development challenges facing the region. Excerpt of key note address delivered during the AIM Policy Center’s Energy, Climate, and Food Security Conference, August 27, 2008

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:c`dXk\:_Xe^\ Xe[:feÕ`Zk ;8 E  J D @K ? Secretary-General, International Alert, United Kingdom

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IN THE REPORT PUBLISHED BY INTERNAtional Alert in November 2007, we identified 46 countries where we believe there is a severe risk of armed conflict due to climate change, and one of those is the Philippines. We also identified another 56 countries where there is a risk of political instability. One thing I want to emphasize is we’re not simply talking about consequences of climate change—temperatures rise, therefore people fight—that’s not the linkage we are making. Climate change is bad news in most parts of the world, and the form of the bad news differs from place to place: if you have too much rain, there’s going be more, and if there’s little rain, there’s going to be less. Speaking as an Englishman, I shouldn’t say this but in British English we have something called Murphy’s Law: what can go wrong will go wrong, and that seems to be what’s going to happen to climate. Now as that happens, part of what we will see, part of what we are already starting to see (but it will get worse) is that human habitat becomes less habitable; it will be less possible to (/

grow crops, growing season will be shorter, land will be less fertile. How will people react to that? Some will start leaving, some will get involved in arguments about the use of scarce resources, prices will rise, the poor will suffer, and there will be political mobilization. In some countries, institutions and practices don’t exist to moderate and mediate those conflicts and there’s a risk of those conflicts becoming violent. Without the interaction with other features of the social, political, and economic reality of these countries, ([such as] the interaction between climate change, poverty, bad governance, the history of conflict, a lack of institutions) it’s the interplay of all these things one must think about when thinking about the increased risk of armed conflict. I want also to point briefly to another element, which needs to be integrated into our thinking: what’s at stake here is the relationship between nature and us. I think there are models of development (not only industrial but also agricultural) that, for a long time, has simply taken nature for granted. What we’re beginning to understand and appreci-

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ate now is that you can’t take the bounty of nature for granted. If we’re thinking about industrial development, energy options or food security, we have to think about what we are doing to the natural system and how that interacts, and we’ve been playing far too loose with it for too long. The IPCC in its AR4 (4th assessment review) showed that there is a much broader scientific census than there was before about the consequences and the impact human society has been having on nature and at root, that is what we have to address. C`ebj9\kn\\eGfc`ZpI\jgfej\j1 D`k`^Xk`feXe[8[XgkXk`fe

Mitigation is trying to stop global warming from getting worse therefore trying to slow down climate change and in a sense turning the tank around and moving in a different direction. Adaptation is responding to the effects of climate change, for example: In November and December last year in northwestern Europe, there was the highest ever surge recorded in the level of the North Sea, which is on Great Britain’s east coast and G ? FKF 1A8 BF 9;8 C C & ;8 E @ J ?I < ;: I F J J

my daughter worked at the city hall in eastern England, and they were all mobilized for this emergency. I asked her what happened and she said not a lot really, because everything had already been done. So they monitored the water levels increasing in the river as a result of this surge, and nothing happened, as all the preparations had been made- adaptation had been successfully done and the risk of the effects of climate change had been dealt with. Now when you go into international policy circles, you often find people saying, “Well, we should do mitigation” and another group says “No, we should adapt.” Let me put it to you this way: if the next agreement (post-Kyoto) has the best, the most perfect, the most ambitious targets for mitigation for reducing emissions of CO2 and if the implementation of that agreement happens absolutely perfectly in old, developed, new, and fast developing countries like China or India, if absolutely everyone does their bit, it will be between three and a half decades and four before we notice things getting better. In fact it will be between three and a half and four decades before we can see that things are getting worse more slowly because all of the pressures we have put into the natural system have been put in, in the past centuries. It takes time to clear that up so with the best mitigation imaginable, we still need to adapt, and especially, the weight of that adaptation need is felt in the poorer countries of the world. The second thing I want to discuss on the topic of links in policy responses is between adaptation and peace building. One of the arguments we make in our report is that the double-headed risk of violent conflict and climate change can be met by unified response because adaptation and peace building fit together so perfectly. They are of course in some ways very different, but at heart they are the same. The reason they are the same is because they both involve social processing. You can’t build peace by dictating from the top that you shall have peace, nor can you adapt to climate change simply by central government directive. You have to have the involvement of people and community and the discussion of adaptation needs to be understood as a social process and

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cannot be purely dominated by the necessary technical content which is in there. The target for both adaptation and peace building is, I think the concept that best represents it is resilience—it’s a concept which I’ve drawn from disaster risk reduction literature. What we’re looking for are societies that are able to handle these external shocks, whether it’s in the form of conflict or climate change or increased food prices or oil prices: that society has become more resilient to that, and that’s a goal whether it’s for peace building or adaptation. The third area I want to talk about is links in our thinking and the first question I think to ask here is, “What makes a society resilient? What is it that makes a society resilient? What would be a resilient society?” A society which can handle info, tough difficult info which asks nasty questions about how do you think you’re going to carry on with your affairs if you pay no attention to this other problem; a society which can discuss those issues, come to conclusions, produce results and ideas for change and implement them; a society in which there is a sense of togetherness, a sense of community which is well-governed. Now, it can help for that society if it is rich, but rich societies can also be brittle. Rich societies can also break or bend under the pressure of external shock. What counts is the quality of how people relate within society and that is why, for me, that the target of building a resilient society, the target of adaptation is so closely connected to peace building. We have to really see all of these things as new challenges. Creative linkages between different modes of inquiry and policy are absolutely essential if we are going to deal with the challenges that we face. We can’t stay in the same little silos wthat we have. It is no good talking about these issues as an economist and thinking that they have been discussed adequately. It is no good talking about them even as a climate scientist or peace researcher and thinking they have been discussed adequately. We have to make bridges in our thinking. We have to avoid these false either-or choices which are put in front of you. Do you want prosperity or clean air? The answer to that question is yes. Do you want freedom or growth? The answer to that is yes. Don’t go for the false either-ors and with this we need to be linking our actions together in terms of different levels, different issues and indeed, different times—acting today for tomorrow. Excerpts of speech delivered during the Energy, Climate and Food Security Conference, August 27, 2008

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F THERE IS A SILVER LINING TO THE INCREASINGLY OMINOUS specter of a global financial meltdown and the far-reaching implications of Great Depression-like scenarios, it should be the opportunity to move from ‘greed economics’ towards a global green economy. Global capitalism as we know it has imploded with the collapse of Lehman Brothers, Bear Sterns, Merrill Lynch and such other giant investment and insurance houses, and the future is frighteningly uncertain. But if out of this mess the global economy is more decidedly weaned from the financial world’s propensity to ‘make money from the movement of money’(what, pray tell, do ‘derivative contracts’ and other exotic futures instruments mean to the average citizen?) and shift it to the creation of new, real value—new technologies, innovative materials, and industrial products that meet energy needs sustainably and address eco-efficiencies, then there is hope for economic renewal, and, indeed, a real chance to curb global warming. Jacques Attali, founding president of the European Bank for Reconstruction and Development, would call it a ‘Global New Deal.’ Countries with powerful reserves—China, Russia and other oil-producing countries —could well finance ‘greener’ infrastructure projects, especially in sustainable and renewG I F =%E < I able energy, in the developing world to be built, among others, by leading American companies. This would ignite broad growth in the ‘real economy’ of actual production and human invention, argues Attali, who recently wrote the trenchant book “A Brief History of the Future.” It is time leaders took the herculean challenge of restoring balance in the larger economy and the underlying factors of ecology with the ‘urgency of now.’ The $700 billion bailout of Wall Street is touted by the Bush government as “pivotal for Main Street jobs and homes,” but as several scientists would propound, such a bailout sum— or a fraction—of it, will go a long way in “bailing out nature.” Just think what wonders a hundred billion dollars can do to repair damaged ecosystems, restore biodiversity loss, curb pollution, support technological innovations and renewable energy use, and put in place mitigation measures for climate change —especially in the vulnerable regions of the developing world. Such environmental threats to human health, food security and continued access to clean water, after all, are inextricably tied to poverty indices and the incapacity of millions

around the world to meet basic needs and attain higher standards of living. The contradictions of global capitalism has led to the crisis of overproduction, or as social scientists would have it, ‘overaccumulation’ and ‘overcapacity’—the build-up of ‘tremendous productive capacity that outruns a population’s capacity to consume,’ given widespread poverty and inequalities around the world that limit purchasing power and reduce overall profitability. Moreover, the financial economy of unbridled speculation or ‘squeezing value out of already created value,’ as sociologist Walden Bello would describe it succinctly, has only exacerbated volatilities in the world economy, such as crippling oil and food price crises—and have ultimately added to the ruin of the earth’s vital lifesupport systems of fresh water, clean air, the seas, forests and land. In the wake of the largest financial collapse since 1929, this crisis should perforce move economic planning and activity towards, what environmental/eco-efficiency advocates Dan Esty and Andrew Winston refer in their book ‘Green to Gold,’ the locating of sustainability and new green technologies at the center of business strategy and government policy. The future of humanity surely depends no less on how society embarks on a sustainable track with regards to both energy needs and environmental requirements. This requires nothing short of folding @ :8: F J K8 environmental stewardship into corporate culture and the running of businesses. This likewise calls for increased and more effective global governance mechanisms and, yes, supranational responses. By necessity, governments and civil society actors will have to take larger roles, and what may have been a heretofore near-absolute faith in the self-correcting nature of free markets will require serious revisiting. These interventions will have to come in various forms—whether in terms of clear country and regional targets for the United Nations Millennium Development Goals or the accountability and commitments of nation-states and governments in global stewardship instruments like the Kyoto Protocol, among others. The world’s economies and the world’s six billion inhabitants deserve no less. Only then will new social contracts emerge, or a Global New Deal forged, with greed economics supplanted with a global green economy that drives long-term growth...and heals a battered planet.

Greed to Green

Neric Acosta was Liberal Party Congressman of Bukidnon from 1998-2007 and principal author of the Clean Air and Clean Water Acts; he is now professor at the Asian Institute of Management.

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HANGING BUSINESS organizations is like fixing a racing car while speeding at 140 kilometers an hour. Leaders have to face the challenges and urgencies of running the business on a day-to-day basis while at the same time build a new organization for the future. The author has served in the pit stops of these organizational change race tracks and has seen many crashes occur as well as observed a few successful drivers navigate through the challenge. This article intends to provide some observations and approaches based on the author’s involvement in the culture change initiatives of several large organizations, in the Philippines and abroad. These are not intended to be authoritative prescriptions or cookbook recipes but rather are observations learned from the successes and failures of changing corporate cultures.

Rule 1: Culture change is the CEO’s business

At the risk of sounding redundant, Rule 1 is the first truism of successful change. However it still needs to be said: The CEO must be in the driver’s seat and must visibly influence the change. Note the the word “influence” as culture change is more complex than just leadership being in the driver’s seat and is certainly beyond one individual’s control. If you are a new CEO trying to change an old, existing organization, the challenge is doubly formidable. The basics of leading change are, however, deceptively simple: state your dreams and convictions loud and clear, dramatize the link between your vision and the firm’s future survival and success, live the change and do it consistently...everyday. And most importantly, get everyone on board! Your senior management team is a good place to start. You and your senior executives need to be on the same wavelength in terms of your vision

and values. You may want to start defining a specific brand of leadership, one which embodies the new assumptions and values of the organizational culture you want to build. Rule 2: Chart your destination and post signs along the way

Articulate your view of why the business exists, where you want it to be in the future, the most important principles that will guide the organization and the critical performance areas you want the focus on. Do this together with your leadership team. When Andres Soriano, Jr. took the reins of the San Miguel business empire, he took his senior executives to a three-day business retreat in Honolulu to collectively ponder on these issues. They came back with a team name and an agenda for culture change. They called themselves “SMC-squared” or the Senior Management Committee of SMC and met on a monthly basis

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for the next several years to lead the change on San Miguel’s century-old culture. Ten years later, the cultural terrain of the new San Miguel was amazingly close to the original map. Rule 3: Use multiple levers to catalyze change

This rule relies on systems thinking which views organizations as living organisms composed of many “sub-systems” and as part of many “super-systems” above it. As such, any change in its super and sub-systems affects the whole. In the case of changing corporate cultures, it may be helpful to think of transformation as having the following sub-systems: leadership, structures, systems, competencies and strategy. Systems thinking also suggests that transformation happens as a result of many small things, happening over time. The successful organizational changes I have witnessed are characterized by many interventions done in a holistic and systemic way. When SMC2 planned the new San Miguel, it used the multiple-lever approach starting with defining its vision and core values. Under the leadership sub-system, it defined a leadership brand, moving from autocratic to a more participative style, from a reactive to a more future-oriented posture and from a focus on products to a focus on markets and the customer. The company set up an accelerated

management succession program, installing new and young managers who embodied the new style into senior executive positions. This was probably the most dramatic intervention which turned around the San Miguel culture. In addition, the company reorganized itself from a highly centralized and functional structure to one which was decentralized and SBU-focused and aligned its planning and people systems with its revitalized business mission and strategies. In the competency area, all supervisors and managers underwent in-depth orientation into the San Miguel Management System, a management development training center was formally established, technical centers of excellence were set up and a formal management succession program was put in place. While the rule of using multiple change levers may sound overwhelming, the next rule will provide suggestions on how to prioritize and sequence these multiple interventions. Rule 4: Prioritize and sequence your change levers

Your behaviors as well as those of your senior executives are the primary levers to induce culture change. These behaviors include: „ Deliberate role modeling, teaching and coaching. This would include public verbal declarations, memos, as well as highlighting

of values and norms in coaching and mentoring situations. „ What you pay attention to, measure and control. A powerful aspect of this attention-giving mechanism is the occasional and purposive “emotional outburst” of leaders to violations of key values and beliefs. The other side of this is what you ignore or don’t react to. At a more formal level, planning and monitoring processes (long range planning and budgets) provide the forum through which messages of attention are sent. This is one of the reasons why planning events are very important mechanisms for culture change. „ Promotions and pay increases tied up to the practice of new assumptions and values. Also related to this are the criteria for recruitment, derailment and retirement. Secondary levers of change will work only if the primary mechanism of “leadership by example” is in place. Among the most commonly used secondary mechanisms of change are: structure, systems and procedures, facilities, physical layout and arrangements and formal policy statements. In the early stage, using some element of coercion can also be a powerful lever. This can take the shape of moving aside or even firing some senior executives who could not adapt to the new values. In one telecommunications company, the CEO held in abeyance a couple of HR systems while task forces he formed reviewed and recommended new alternative systems. The author, when he was an OD manager in an international chemical company, facilitated a worldwide meeting of the newly appointed CEO who dramatically thrashed two highly visible management reports as a symbol of a new management style. Rule 5: Use a planned change process

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Adopt a systematic process for leading change. There are numerous versions, one of which is a compilation by the author, as follows: 1) Mobilize leadership commitment for change through a collective analysis of issues and challenges; 2) Design the desired future state through a shared vision; 3) Plan the way and manage resistance to change; 4) Execute the plan through the 3C’s: Consult, Communicate, Coordinate; 5) Align policies, systems and structures; and 6) Measure, monitor and sustain progress The process outlined above is just one example of a systematic change management approach. What is important is you have one which makes sense to you and which you will be committed to use. @ C C L J K I 8K @ F E 1  : ? @ C @  ; F > J


In a study of successful corporate transformations, some common threads in terms of initial activities (even before working on a formal change plan) are evident: 1) CEOs leading successful change build initial credibility by attending to the brush fires first, in the process, ensuring short term turnaround of the business; 2) reorganized the senior management team, often by bringing in new blood; 3) used a top down and bottom up approach; 4) initiated a steady and continuous build-up of activities instead of stopand-start mega-initiatives; 5) paid a lot of attention to people issues and provided safety nets to ensure acceptance of change; and 6) used the authority of their office to proclaim, inspire and even occasionally coerce the new assumptions and norms into the mainstream culture. The privatization story of one of the water utility franchises in Manila provides a classic example of these change steps and how following these steps contributed to a successful cultural change. Your mix of interventions will depend on your collective analysis and change objectives. Do not front-load your interventions. Remember that Rome was not built in a day, so creating a new culture will take some time. Spread out your change initiatives (be guided by Rule 4) and steadily build it up instead of undertaking start and stop mega-initiatives. Rule 6: Don’t monopolize ownership of change

Create as many co-owners of your culture change program. Involvement is the door to ownership and commitment. Enlarge and widen your leadership network. Throw your pebbles of change into the pond and watch the ripple effect. In one organization I worked with, the CEO started with his immediate senior leadership team, then invited the next two levels of managers to a second conference and in the following 12 months, cascaded to the rest of the company a values-based training program. By year-end, the CEO has spread out ownership of the change program to his 12,000 employees throughout the world. Better still, organize convention-type meetings where large groups of employees can dialogue and co-create a shared vision of the future. Another tool you may want to consider is to form task forces to work on corporate issues and invite a cross section of employees to be leaders and members of these problem solving teams.

Rule 7: Expect and then, manage resistance to change—it’s natural

The old culture (especially of successful organizations) is a source of self-esteem and a justification of past successes. Expect resistance to your vision and new ways of doing things—these will be perceived as “untested solutions” until dramatic, positive results will bear you out. So, remember to honor the past... build on strengths of the old culture...In the meantime, what you should do is to constantly challenge old assumptions and consistently

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could also include bringing in new blood in your executive teams, promoting young high potentials to highly visible positions, firing a recalcitrant executive, doing away with a “dysfunctional tradition.” One of the hallmarks of the San Miguel Corporation transformation from a family style organization to the professional stature it currently enjoys was the highly visible and accelerated movement of young mid-level managers to senior management positions in a dramatic period of just three years! The company also instituted a new corporate image program consistent with its new values and strategies. Rule 9: Build change structures and networks and provide resources for the change process

Rule 8: Dramatize the change

The new CEO of an international food conglomerate used TQM as his platform and structure for culture change. He chartered all his divisional presidents to transform their management committees into Quality Councils and used the Malcolm Baldrige Quality Award as his metric for success. Likewise, transform your current structures or create new ones to lead and provide support to the change program. Ensure that you get an adviser who is knowledgeable on change management and whom you can trust. Build up the change management skills of your HR people. They will become your change agents on the ground. Provide sufficient budget for the change process itself—this is often underestimated in most change efforts. The most important resource for the change process, however, is yourself. Take care and love yourself. Taking care of yourself means giving yourself credit and not disparaging your own efforts. Loving yourself means taking a balanced view of life and staying in touch with your purpose. Take time to invigorate your self and your life as you step up to the challenge of recreating your organization. Good luck!

Old cultures are most resistant to change. It is therefore important for you to create drama in order to convey your message of seriousness of intent. The most dramatic to the organization would be changes in yourself and the behaviors of your top executives. Do not hesitate to use all media including use of gimmicks to create a headline effect. Remember, however that these are under linings for emphasis and need to be substantiated with your leadership by example. “Drama”

Enrique “Ric” Abadesco is considered a pioneer in the organization development (OD) field in the Philippines, having headed the first formal OD unit of San Miguel Corporation in the seventies. He was Senior Vice President of San Miguel Corporation and was an expatriate executive of the giant petroleum company, Exxon Mobil Corporation in HongKong, Singapore, Belgium and the United States for over 10 years. He was elected a Fellow by the Society of Fellows of the Personnel Management Association of the Philippines and is currently the National President of the People Management Association of the Philippines.

declare, articulate, pay attention, reward and even force through these new assumptions. As earlier emphasized, these behaviors, if consistently demonstrated and lived by your senior leadership teams are the primary mechanism for cultural change. This is why forming a unified mindset and management style among your top executives is a key requirement for cultural transformation. In addition to your unified and collective “leadership by example,” it is important that you and your executives manage resistance, not by suppressing it but by legitimizing it. “Legitimizing” resistance means that you and your senior executives will have to exercise active, empathetic listening. In addition, create a climate conducive to openness, one which will encourage people to air their concerns. Teach supervisors and managers throughout the organization how to listen and encourage feedback.

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IT’S BEEN WEEKS SINCE LEHMAN BROTHERS FILED FOR bankruptcy. Much has been written about this most recent financial crisis. And while it is interesting to understand how decisions made long ago by executives in far away places led to this mess, what most people truly want to know is how it affects them—personally.

defaulted on loans and filed for bankruptcy, stock markets crashed and economic growth stalled. The year 2007 was the year of the sub-prime market collapse. Now, I’m not seriously suggesting there is anything to this theory. I am merely pointing out that this is not a theory I would have come up with. My daughter created this theory because, like most people, she sees the world through her own personal lens.



My daughter, who was born in 1987, has a theory about financial crises. She figures she ushered in a financial crisis in the year she was born and there’s been one every time she marks a decade of her life. 19 October 1987 marked what, in financial circles, is know as Black Monday. On this day, stock markets went crashing, beginning with Hong Kong, continuing westward through the time zones to Europe and finally hitting the United States. The 508 point (22.6%) drop in the Dow Jones Industrial Average (DJIA) was the second largest one day decline in stock market history. By the end of October 1987, the Hong Kong market had fallen 45.8%, Australia 41.8%, Spain 31%, the UK 26.4%, the US 22.68% and Canada 22.5%. The year 1997 was marked by the Asian financial crisis, which began with the collapse of the Baht in July. The crisis spread through many Asian nations, causing the devaluation of many of the region’s currencies. Interest rates soared, property values collapsed, companies

In any case, it is, in fact, instructive to review past history in order to gain a perspective on what is currently happening. Let us, for example, take the crash of 1987. Over two decades after the crash, the causes of Black Monday 1987 continue to be debated. What is not at issue though are certain things. First, the Dow Jones was actually positive in 1987—going from 1897 at the beginning of the year to 1939 at the end of the year. However, it would take the Dow Jones two years to recover to its 25 August 1987 high of 2722. There is much more agreement concerning the causes of the 1997 Asian crisis. While the Thai government’s decision was the immediate trigger for the collapse, the trouble had started much earlier. Thailand had taken on a large amount of debt and the value of the baht, which was ostensibly pegged to the US dollar was clearly not reflective of reality. As a result, speculators attacked the Thai currency and the Thai government, already severely financially overextended failed to

...It’s been almost two years and it’s not yet over.

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defend its currency. The contagion slowly spread to other countries, whose currencies were similarly attacked. The crisis eventually resulted in a massive decrease in asset values and purchasing power around the region—a situation that would have massive effects on trade and economic growth. It would take two years before signs of recovery in the region were to be seen. 9XZbkfk_\Gi\j\ek

By contrast, the first rumblings of this current crisis started in 2006 when investors who held mortgage-backed securities began to realize that the value of the assets they held were probably much lower than they had originally thought. In hindsight, it seems silly to have believed that putting together many low-grade investments (that is, of course, what sub-prime really means, correct?) would result in one large pool of triple-A securities. The real shock, of course, occurred in 2007 when the extent of the problem became widely known after Countrywide (which was subsequently taken over by Bank of America) announced the extent of its problems. Again by contrast, while the first two crises we are discussing were marked by the speed of the contagion (a matter of weeks for Black Monday 1987, months for the 1997 Asian crisis), this crisis is more like a slow motion sequence. In March of 2008, Bear Stearns, an 85-year old business, at the time one of the largest independent investment banks in the world, sailed into a liquidity crisis from which it would not recover. What

began on March 10 as rumor escalated into a run and, by March 14, Bear Stearns had been swallowed by J.P. Morgan Chase. Many companies followed. Meryll Lynch has been bought by Bank of America. The US government has had to rescue Fannie, Freddie and AIG and is now in the process of attempting to push through what is expected to be the largest bail out package in its history. What makes all of this even more worrisome is that the geographic footprint of this problem goes way beyond the United States. The situation of loose credit, overspending and aggressive financial engineering that are at the root of this current crisis is not limited to the United States. Many countries have a similar problem. And even those, like the Philippines, which have tended to stay away from such aggressive fi nancial engineering are bound to suffer simply because we depend on the wealth of our neighbors in these countries for a significant portion of our earnings. So yes, this will affect us in some way. Will our fi nancial system come crashing down? Of course not. But here’s the bit of news that’s just not that good—especially for those who live in the US—it’s been almost two years and it’s not yet over.  Reprinted with permission from the author. First published October 3, 2008 in Integrations, The Manila Standard Today. Historical information was taken primarily from Wikipedia and Fortune magazine articles. Readers can email Maya at integrations_manila@yahoo.com. Or visit her site at http://www.mayaherrera.com.

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OTHING CAN BE AS real as losing a job or closing down a business on account of the current global financial crisis; it is this half side of the economic circular flow that is most important to ordinary people rather than the financial services sector which most Filipinos and other Asians relate to only indirectly. The real side of the economy refers to no more than the production of real goods and services, the employment of people, the investment in plant and equipment, and the continued flow of resources through the supply chain all the way to the final destination of consumer tables, productive plants, farms, offices and laboratories. Financial crisis will inevitably result to a slowdown in production, a recession, and some fear even a depression, if no appropriate monetary and fiscal policies are undertaken in concert by the coupled economies of the developed

and developing world. The rather fast response by the major world economies in coordinating interest rates cut is a clear demonstration that in an interconnected world of ICT, global leaders have to act equally as fast as the news can get to netizens to avoid panic and the herd overrunning financial as well as real markets. Academic discourse on the relationship of the financial sector to the real side of the economy focus on the economic outcomes and efficiency in production units brought about by changes in the financial sector. As a consequence, for example, one study on the Korean economy notes “the improvement in financial services related to manufacturing...should be on the creation of new businesses based on new technologies, ideas and knowledge.” (Kim In Cheol, Kim Jin Ung, and Noh Young Jin, “Analysis of the effects of financial development on the real economy and implications,” e-KIET industrial Economic Information, Vol. 409, 1 August 2008). What new businesses should the Philippines encourage as the global

financial crisis deepens in 2008-09? The latest economic outlook of the world (International Monetary Fund [IMF], midOctober 2008) shows a slowdown in 2008 (well under 1%) and modest recovery late in 2009 (nearly 2%). The 2008 slowdown is reflective of the ability of the developing world (China and India in particular, with growth well above the emerging economies’ 7% growth) to cushion the impact of the US economic crisis; Russia and the CIS countries are forecast to continue to have growth above 5%, in contrast to the under 5% growth rate of Brazil, Central Eastern Europe, and the 6-7% growth rate of the Middle East and Sub-Saharan Africa The Philippines is forecast by many government and private sector analysts to slow down to somewhere around 4.5% in 2008, dramatically down from the 7.3% in 2007, the highest in 31 years; the 2009 projection is further down as per IMF, but a little bit up using the Asian Development Bank forecast. The impact on the demand for labor both here G ? FKF > I 8 G ? 1A F G < KG L E F


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and abroad will be quite negative for many Filipinos, unless the country embarks on innovative strategies. The supply side story (agriculture, industry, services) and the demand side story (consumption expenditures, investment, government spending, and foreign trade) indeed show some opportunities for the restructuring of the economy to take advantage of the crisis. A more competitive Philippines may in fact come out of these events if properly strategized. This can come from more innovation, more creativity, and technology-based development strategy that focuses on the real side of the economy, to boost productivity and explore new niches in the world market. Poverty reduction and meeting other Millennium Development Goals (MDGs) need not take back seats if the structural transformation can be scaled up by visionary entrepreneurs and wise public thought leaders. Four promising areas on the supply side were recently promoted by the National Competitiveness Council at the anniversary conference of the Local Government Code held at AIM. These are agri-business, BPO-IT, tourism, and mining—to the extent that the remaining growth in the world economy could be appropriately harnessed by the country. Food is a basic human survival requirement: for direct consumption like rice whose prices have recently skyrocketed, or indirectly through animal feeds like yellow corn whose exportation to Korea the Philippines recently started in view of the drought in China, with Koreans investing 1 billion pesos in post harvest facilities and bulk terminals in Region II and Mindanao, and the Department of Agriculture opening up 75,000 hectares of land for corn. Biofuels are becoming a major energy alternative product in land-rich areas that can address rural poverty through public-private partnership (including funding schemes from clean development mechanisms or carbon credits/trading), although the dramatic fall in oil prices in late October have made it less attractive to plant jatropha, moringa or malunggay, etc.. Global food prices in the last quarter of 2008, indexed at January 2006 =100, are still above 200. The role of the private sector cannot but be underscored during these tough times. Private companies have more access to new and cutting edge agricultural technologies, and have the capacity to provide agriculture advisory services; private corporations are responsible for ensuring competitive produce and pricing,

and engage in corporate social responsibility activities. In some cases, policy reforms in agriculture depend largely on the political will of the landlords and entrepreneurs. Beyond business process outsourcing growth due to the relatively proficient English skills of Filipinos and the need to further cut down costs in industrial countries, IT-mediated products and services that raise productivity can be targeted. Here is a chance for small players to consolidate and lead to economies of scale and scope, and expand beyond Metro Manila into the other cities along the cyber corridor running from Northern Luzon all the way down to Mindanao. Some migration of work to the Philippines and other countries have been questioned by the traditionally

8dfi\Zfdg\k`k`m\ G_`c`gg`e\jdXp`e]XZk Zfd\flkf]k_\j\\m\ekj `]gifg\icpjkiXk\^`q\[% disadvantaged expensive labor in industrial countries, and their voices may be more shrill as economies recede, but the net effect on company operations in terms of cost saving still determine decisions to “make” or “buy.” Unfortunately, the flat or no-growth forecast of the major Philippine export sector—semiconductors which account for around two thirds of export values—was adjusted downwards early in November to negative territory for this year and next, as early reports of electronic slowdown hits home—down the supply chain. Many of our Asian exports in this sector (10% goes to Japan, lowest growth rate among ASEAN in the first eight months of 2008; majority goes to ASEAN) eventually end up in the major consumer electronic firms of the USA (laptops, cameras, cellular phones which are the primary users of the semiconductors and microprocessors exported by the Philippines). India is a new destination that will benefit the country as ASEAN pushes the free trade agreement with it; The sector claimed 4.7% share of the Indian market at $5.6 billion in 2006. Absent a deep and prolonged crisis, tourism need not disappear altogether as certain groups could be attracted to spend more wisely not only for health and wellness (overseas Filipinos and Northeast Asia, for hospitalbased medical services like health screening, medical check-ups, heart surgery, joint replacements; specialty clinics- dentistry, ophthalmology, cosmetic surgery, wellness spas)

but for retirement planning and eco-tourism as well. Attracting the overseas Filipino retirees at a time when the purchasing power of the peso is improving, i.e., depreciating peso/ dollar rate, seems an attractive proposition; many of the retiring professionals may in fact fi nd a second life in assisting Philippine institutions through technology transfer and teaching , e.g., in many provincial universities in dire need of experienced nurses, engineers, accountants, social and physical scientists, etc., if we successfully prick their conscience in returning the investment the country put in them as students decades back. The strategy of four C’s in this sector adopted by the National Competitive Council include chaining supply (agriculture, real estate, education and training), clustering (hospitals, specialty clinics, wellness spas, and retirement homes), chaining the market (global customers, information, HMOs, syndicators, transport and security), and convergence/community building (private and public institutions). Mining is a very promising sector especially in communities where environmental concerns can be answered for by more responsible proponents, local and national officials and NGOs. Many responsible mining companies have demonstrated capacities to balance ecological concerns with market considerations. The country has many of the richest mineral resources in the region. But these promising industries must also be supported by innovation in other sectors. Apparel exports are likely to go down in the next two years as traditional buyers like WalMart face consumers who are also realigning expenditures; this can be balanced by European buyers like Auchan, a French international retail group that has expressed interest in sourcing products for their retail establishments, like garden accessories, home decors, furniture, fashion accessories, as well as food products. Furniture, mostly destined to the US (60% vs. 10% to Japan and 3% to UK), have already felt the pinch of tighter credit in major markets; local entrepreneurs must be quick to figure out the new demand for the types of furniture that will fit the new living conditions of Americans—smaller homes will require smaller, collapsible, modular types and models. “Impact p off the Global Financial Crisis...” continued on p page g 54 >>

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Through the region’s efforts, a reduction in poverty, and significant steps toward the achievement of the Millennium Development Goals have been attained. These achievements have come with an increased demand and production of energy. Despite all these, the region continues to be home to well over half a billion of the world’s population that live on less than $2 a day. Also, while development has increased energy consumption, there continues to be about 1 billion people who do not have access to modern and sustainable forms of energy systems and services. Clearly, energy is needed to drive economic gains and the International Energy Agency (IEA) estimates that Asia needs $6 trillion in investments in new energy infrastructure by 2030. However, without major technological changes and continued dependence on fossil fuels as a primary source of energy generation, Asia will drive climate change. IEA’s World Energy Outlook 2007 states that 29% of the world’s energy-relate GHG emissions come from Asia because of its dependence on fossil fuels. This figure is three times what it was three years ago. Unhampered, Asia’s growing emissions could further increase to 42% by 2030 in a “business as usual” scenario. K_\G_`c`gg`e\gXk_nXpkfnXi[jXjljkX`eXYc\\e\i^p]lkli\

The Philippines, like other countries in the region, face the compounded problem of promoting energy security while trying to meet the requirements needed to ensure minimal impact on the environment in terms of mitigating greenhouse gas emissions. The Secretary of the Philippine Department of Energy, Hon. Angelo Reyes (MBM 1973) presented the energy issues and solutions path that the country is taking to ensure secured energy and sustainable future development. Secretary Reyes pointed out that high volatile prices and the threats of climate change has pushed the Philippine government to come up with policies that enable better supply and demand side management while promoting power sector reforms, infrastructure development, and highlighting the importance of social mobilization. To come up with a strategic plan to ensure fair and reasonable energy prices amidst rising fuel costs the Energy Contingency Task Force (ECTF) has been reactivated. The government has then put tax payer’s money to good use by setting Php 3 billion aside for the energy sector to set programs like Vehicle Conversion (Php 0.5 billion), Compact Florescent Lamps (CFL) project, and Pantawid Kuryente (Php 2 billion), in motion. Supply side management must be carefully balanced with prudent demand side management measures and in this regard, the government through the department of energy has launched the SWITCH Program in July 2008 to focus initially on: (i) switching from inefficient to efficient energy practices (beginning with better lighting efficiency) in workplaces, buildings, homes, and shared public places (ii) switching from petroleum-based fuels to alternative fuels for efficient and cleaner technologies in the transport sector; (iii) switching from kerosene to renewable and indigenous energy sources for lighting and basic electricity in remote rural areas that are not yet grid connected; (iv) switching from fossil fuel dependent technologies to renewable energy technologies in power generation at the local level wherever and whenever feasible; and (v) switching from traditionally centralized energy planning to a more participative, bottom-up energy planning at local levels. *'

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The energy secretary also shared details from the government’s robust plans for both supply and demand side management that aims to bolster energy independence. The Philippine supply side management plans include concrete steps in both renewable and traditional fossil fuels with the government securing five petroleum service contracts earlier this year while actively pursuing the production and use of indigenous renewable energy such as geothermal, wind and solar energy. Plans for securing a better and more sustainable energy future for the country is not limited to grid-connected power sources. The energy secretary also detailed the government’s plans for promoting the use of indigenous sources of fuels for the transport sector. There are clearly defined goals for increasing both the mandated biodiesel and bioethanol blends for vehicles from 1% to 2% and 5% to 10% respectively by 2009.

%%%N@K?FLKD8AFI K<:?EFCF>@:8C :?8E><J8E;:FEK@EL<; ;<G<E;<E:<FE=FJJ@C =L<CJ8J8GI@D8IP JFLI:<F=<E<I>P ><E<I8K@FE#8J@8N@CC ;I@M<:C@D8K<:?8E><% The secretary also mentioned the country’s promotion of Liquefied Petroluem Gas (LPG) conversion for taxis nationwide as well as the use of Compressed Natural Gas (CNG) for long distance buses that ply certain routes within Luzon. These measures have decreased the nation’s dependence on imported fuels thereby beginning to free itself from the vulnerability of fluctuating fuel import costs. The government takes the lead in better demand side management by implementing the Administrative Order of “Addressing the Rising Cost of Energy” that requires government agencies to adopt energy efficient measures that will lead to real reductions in fuel and energy consumption. Still on creative and effective policy, the government intends to bolster its legal and regulatory framework by implementing the Renewable Energy Bill, the Natural Gas Bill, Liquefied Petroleum Gas (LPG) Bill, Energy Conservation Bill, and the Transco Franchise Bill. The secretary highlighted the key component that will ensure the effective implementation of policies that the government has put in place in terms of energy security: social mobilization. The department of energy has set the plans for promoting information and education campaigns for the different sectors to understand and adopt energy efficient measures and preference for indigenous renewable energy sources. With every Filipino working towards the shared goal of promoting the production and consumption of more efficient and renewable energy sources, a secure and sustainable energy future is hopefully at hand. :_Xcc\e^\jf]:c`dXk\:_Xe^\

Clearly, it is extremely important to begin forging a path towards development that is decoupled from high greenhouse gas emissions that push climate change. According to the report of the Intergovern-


mental Panel on Climate Change (IPCC) the current upward trajectory of greenhouse gas (GHG) emissions can lead to disastrous climate change which in turn leads to increased distress on agriculture and food security as well as floods and other natural disasters especially in Asia. Furthermore, these increasing GHG emissions will continue to cause global mean temperatures to rise. To date, we have experienced an increase of 0.7oC in global mean temperatures above pre-industrial levels. When the 2oC threshold has been reached, scientists predict that devastating impacts on human settlements, security, community livelihoods, infrastructure, and biodiversity around the world, are bound to happen. Clearly, climate change threatens the sustained accelerated economic growth witnessed in the Asia Pacific region within the past thirty years. Aside from creating barriers to future poverty reduction, predicted climate change has the potential to reverse important socio-economic achievements, including steps taken toward the attainment of the Millennium Development Goals in emerging Asia. Because of their low incomes, limited institutional capacity, geographical locations, and greater dependence on climate-sensitive sectors like agriculture, the poorest of the poor are expected to suffer first and greatest from a changing climate. This is because the poorest populations have the least capacity to adapt to anticipated changes in the climate. When severe weather leads to a decline in agriculture production, rural incomes will drop proportionately and necessary spending on health, education and nutrition will inadvertently be set aside. CfZXc>fm\ied\ekGi\gXi\[e\jjXe[I\jgfej\

Albay in Southern Luzon is a prime example of a climate-sensitive location. In the past, Albay has been ravaged by natural disasters and in the wake of a changing climate, their local government has decided to take the lead and seamlessly integrate climate change mitigation and adaptation action into the way they do things. Their local government did not wait for national mandates to begin their work towards mitigating and adapting to a changing climate. They have built institutions, appropriated budgets, ordained policies, and continue to execute projects with sustainability at the core of each endeavor. The Governor of the Province of Albay, Hon. Joey S. Salceda (MBM 1990) shares that he believes that governance built on climate action is politically feasible and is the right, good, and smart thing to do as exemplified by concrete steps taken by the province of Albay. Three overarching and interdisciplinary themes that serve as the basis of all their programs are Albay Mabuhay (economic strategy), Albay May Buhay (social development), and Albay May Hanapbuhay (socio-economic plan). Internationally recognized best practices employed by his local government have been implemented to ensure resilience in the face of climate change. JfXi`e^]ff[gi`Z\jXe[cXZbf]]ff[j\Zli`kp

Millions of people around the globe have been able to escape poverty because food prices had been declining in real terms for decades. Agricultural productivity rose despite rapid income and population growth. However, productivity gains began to stagnate in the face of continuing growth in demand, bringing about a reversal of this long-term trend. A study by the Asian Development Bank (ADB) earlier this year shows that a structural shift in demand, particularly for food was created by

the average 7.4% growth in gross domestic product in Asia since 2000. A population with higher incomes encouraged the need for more grain and feedstock for meat. Despite the increased demand, production and general agricultural productivity remained low. Agricultural production is unable to meet the demand most probably due to low capitalization and underinvestment in agricultural research and development. Moreover, demands for land and water from growing urbanization, coupled with rising energy prices have increased the costs of fertilizer, irrigation and food transport by 30-50 percent in the past year. The prices of agricultural commodities such as corn were also driven up because of biofuel production in Europe and the United States, forcing increased use of substitutes like soybean and palm oil. According to the Food and Agriculture Organization of the United Nations (FAO), the state of food insecurity in 2007 shows that there are 845 million people who are hungry and chronically undernourished. The organization further classifies these people as those who do not grow or cannot access the food they need to lead fully active and healthy lives. This includes 10,000 children who die from malnutrition everyday. The lack of proper policy responses regarding the recent spike in global food prices will continue to keep millions hungry and threaten to push people back below the poverty line in developing Asia. In the first months of 2008, food price inflation has hit double digits in Bangladesh, China, Hong Kong, Indonesia, Pakistan, and Vietnam. Food price inflation is also rising in India, Malaysia, Philippines, Singapore, and Thailand. Double-digit food inflation rates are also being experienced by wheat-dependent countries in parts of Central and West Asia. Clearly, unfettered rising food prices will endanger the achievement of the Millennium Development Goals and could bring unrest and political instability especially in nations where socio-political institutions are fragile.

%%%:C@D8K<:?8E>< K?I<8K<EJK?<JLJK8@E<; 8::<C<I8K<;<:FEFD@: >IFNK?N@KE<JJ<;@EK?< 8J@8G8:@=@:I<>@FEN@K?@E K?<G8JKK?@IKPP<8IJ% However, solutions to ensuring food security are not so clear cut and addressing food price inflation through creative and inclusive policy as well as targeted aid to agricultural production does not solve the entire problem. The FAO’s Global Liaison & Coordinator for World Food Day, Mr. Edgardo T. Valenzuela (WID ‘01) shared the alarming trends toward a lack of food security for a growing number of the world’s population. Aside from underscoring many of the sentiments of other experts on food price inflation and low agricultural production, Mr. Valenzuela shared in detail the many risks on agriculture and food production associated with a warming planet and climate change. Changes in global mean temperatures that push a change in climate can have a disastrous effect on natural climate systems, causing drastic changes in weather patterns, biodiversity, naturally affecting climate-dependent sectors like agriculture and food production. Valenzuela presented FAO’s menu of options for action divided >> 8 @ D 8 CL DE @  C < 8 ; < I J? @ G D8>8 Q @ E <   FZkfY \i kf ; \Z\dY\ i  )' ' /



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>> into short term and medium to longer term focal areas based on the Comprehensive Framework for Action (CFA) of the High-Level Task Force on the Global Food Crisis. Short term plans for food security are focused on meeting immediate needs of the population in terms of emergency food assistance, and immediate adjustment of policy to protect farmers and consumers. Concrete actions include providing direct assistance in terms of seed supply, fertilizer, feedstock, small pumps and such. Medium to long term actions are naturally aimed at sustaining small farmer food production growth. To do this, action plans include improving enabling policy frameworks, rural infrastructure improvement, ensured better management of natural resources, and greater private sector involvement. =ff[gi`Z\jXe[`eÕXk`fe`ek_\G_`c`gg`e\j

In the Philippines we find that the country’s economic performance in 2007 was the highest in the last 30 years. According to the Senate Economic Planning Office Report as of February 2008, real gross domestic product posted a 7.3% growth, the fastest in Southeast Asia during the year. The report shows that the growth came mostly from a strong domestic demand mainly triggered by private consumption, which is partly supported by increasing remittances from abroad, against a stronger peso. On the production side, the services sector grew impressively by 8.7%, while industry reached 6% growth, and agriculture, fishery and the forestry sector expanded by 5.1%. However, a recent study by the ADB covering the period of 2003 to 2006 shows an increase in food prices caused poverty levels to rise by 16.8% and the average standard of living decreased by about 1%. The interesting insight of this study is that it shows the poorest of the poor feels the decline in the standard of living due to food price increases much sharply than any other segment of the population. Finally, the study found that the increase in food prices has been the major factor causing inflation in the Philippines in recent periods with non-food items of consumption playing a relatively minor role. Experts say that we will need to learn to live with increasing food prices unless prices reflect the scarcity in the market and provisions are made to allow an open market. Also, aside from targeted assistance necessary to increase food production, increasing knowledge on adaptation measures to help reduce crop vulnerability against a changing climate is needed. Clearly, future investments on agricultural projects must be re-evaluated in light of these price developments and the growing threat of a changing climate. Rising food prices have also contributed to an acceleration of inflation across

the Asia and Pacific region during 2007. In 2008 the further rise in food prices has reached alarming proportions. The rise in food prices is a serious problem because food price inflation is felt acutely by the poor and according to the FAO, particularly by women, children, indigenous peoples, and internally displaced peoples. Dfm`e^kfnXi[jXj\Zli\[]lkli\

The Philippine situation in terms of issues on energy, climate and food security is a reflection of the same situations within the region and the rest of the world. Global challenges must be addressed with solutions that have been forged by regional cooperation and public-private partnerships. Clearly, the Philippine government cannot single handedly solve these issues. The critical challenges faced by the nation against volatile oil prices, climate change, food security and other interrelated concerns require international cooperation and regional action, strengthened by private partnerships. Creative leadership with politics that is inclusive is needed to mobilize societies. Everyone in their own capacity must be empowered to take action to ensure resilience in these trying times. Fundamentally, a paradigm shift from unsustainable consumption patterns towards a conscious decision not to milk the earth of resources like there is no tomorrow must be made. Dr. Federico Macaranas highlighted the importance of creative linkages in building sustainable solutions to the issues discussed. It is clear that climate change increase the risk of armed conflict. This is especially alarming because climate change will exacerbate present socio-political turmoil, as we find the world transforming into a place that is less habitable. Food security, livelihood security, scarce resources, migration, political mobilizations—all these bring risks of socio-political and economic conflicts.

@K@J@DGFIK8EKKFLE;<IJK8E; K?8K=LKLI<;<M<CFGD<EK DLJKK8B<I<JGFEJ@9@C@KPEFK FECP=FIK?<GI<J<EK9LK 8CJF=FI:FD@E>><E<I8K@FEJ% At the end of the day, it is important to understand that future development must take responsibility not only for the present but also for coming generations. In this regard, true development must build an empowering environment of shared responsibilities. It is no longer important to be just a rich nation because rich societies can also be brittle. Rich or poor, we are all on the same boat and by fundamentally changing the way we think and see the world, we each can make responsible actions today for a peaceful and prosperous tomorrow.  8 @ D 8 CL DE @  C < 8 ; < I J? @ G D8>8 Q @ E <   FZkfY \i kf ; \Z\dY\ i  )' ' /



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Pioneer Class G I F =%D 8 I @ F8 E K F E @ F> %C F G < Q


E WERE 75-strong on the first day of class, seven young Filipinas and 68 young Filipinos (the class wasn’t Asian that first year), ages ranging from 19—fresh out of college—to a few “wizened veterans” between 28 and 35 years old. We came for different reasons. Most were attracted to the promise of excellent management careers. It would help ensure a life of some prominence and above average incomes and perhaps the chance to make “substantial contributions to the development and growth of a nation”. A few came because of parental pressure. Leony Castillo remembers that his included


“a strategy for success in life.” Jess Galang remembers, “moving beyond being a geologist into a person who would determine geology’s contributions to progress.” Boy de Leon and Rene Sunico, our MBM Scholarship recipient, remember they were motivated by a need to become “more than just project engineers.” Noel Lorenzana who wasn’t sure where to work remembers chancing upon a poster when passing by Ateneo Padre Faura and deciding then and there to try his luck. Others (mainly those from Ateneo and De La Salle) were attracted by the talks given in their schools advertising the Master in Business Management Program and its being housed in what would soon become the Asian Institute of Management. Johnny Mijares and Lito Caragay were instructors in engineering at the University of

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Santo Tomas. Both decided to change professions. Teaching offered comfortable pay. But teachers’ salaries flattened after a while. Corporate executives seemed to have unlimited earning potentials. Earning an Ateneo MBM was the best way to enter the senior corporate executives’ world. School records show the mean age of the Class of 1970 at 22.7 years, a mix of fresh young grads with good academic records and creditable co-curricular involvements as student leaders and young professionals who had at least two to four years of work experience—which at that time meant being around 26 or 27 years old, and the “class elders”—guys 28 years and above. We remember our elation at being accepted into the program. Those accepted were told to enrol two weeks before classes. Upon enrolment we were handed some fifteen refer-

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(PM), Paul Rosenberg (FM), Fil Alfonso (HBO), Rant Castillo (QA) and Santi Dumlao (WAC). One very important person in our day-today lives in campus was “Mommy” Flory Aguas who was “mother hen” to us often “lost chicks.” On the first day’s opening symposium, we met Fr. Jim Donelan, SJ, Ateneo’s President, Fr. Bo Bomeisl, SJ, Dean of Ateneo’s Graduate School of Business, Mr. Aureling Montinola, Jr., President of Amon Trading and Associate Dean for the MBM, members of the school staff and of course, the faculty, who eyed us with amusement and what we interpreted as healthy scepticism. From “Day Minus One” it proved a hard grind. We remember struggling through the first three cases assigned for the first day the day previous, forcing us to stay up way beyond 12 midnight. Many of us were shifting from case to reference book to check whether we understood the data and the concept needed to make sense of the data and already thinking that was hard. We showed up for classes in the preferred attires for professional schools at the time, white short sleeved shirts with ties or polo barongs, dark pants and a black brief case for the men and “office attire” (high heels and make-up!) for the women. We took our assigned seats in Caseroom 2 on the 3rd Floor of the main building in Padre Faura. Our class was in Marketing Management. Motorela was our first case. In strode Gaby Mendoza with his trademark mentholated Pall ence and casebooks (all Harvard case books), Malls and Tar-Guard (smoking was allowed in the classrooms then and the room was ofand a “case pack”—cases we were supposed to take up in class. “Please read the reference ten hazy with smoke!). After the usual niceties Gaby asked the quintessential case method books and master them,” Mike Toledo of the Registrar’s Office admonished us. “There will question, “Who would like to start?” Zoilo Isip braved opening that first class be no lectures on the basic theories so mastering the material is important for the cases you with seriousness and vigour. And we heard the first of the countless, “Oh yeah?” and “So?” will take up immediately in class.” There were eight required subjects: “Man- questions. The pummelling impressed upon us that we were the meat for fine grinding. ager in the Philippine Environment” (MPE), And from day one it was to be a daily rou“Management Accounting & Control Systems” (Control), “Production Management” (Prod), tine of very early risings, travelling to Padre Faura, meetings in the cafeteria to compare “Marketing Management” (Marketing), notes with other classmates, followed by a suc“Financial Management” (Finance), “Hucession of three classes that lasted up to 4:30 man Behaviour in Organizations” (HBO), “Quantitative Analysis” (Quanti), and “Written or 5:00 p.m., followed by the drive home with can group mates with one guy reading out one Analysis of Cases” (WAC). of the assigned cases for the others’ benefit. Our professors were Gaby Mendoza (MM), After a quick shower and change of clothes Flo Ramos (MPE), Toby Canto (MACS), QT Tan

we read the rest of the cases, ate a hurried dinner and were off to a designated meeting place for can group discussions on the cases. Generally the discussions started at 8:00 p.m. and lasted until 2:00 a.m., sometimes 3:00 or even 4:00 a.m. if the cases proved very complex. The drives to and fro became tension release and tension sharing sessions, whether the tensions had to do with the courses or the cases in these courses, the professors, other classmates or our significant others (very few of us were married, though most had girl- or boyfriends.) We also went outside the campus for lunches in the near-by restaurants and “turo-turo” outlets of which there were a few good ones in the area. A trip to the now defunct Erehwon Bookstore or Solidaridad along Padre Faura was another respite from the burden of cases. Later on in our second year, when we sometimes had lengthened breaks between classes, some of us indulged in a quick drive to the seawall along Roxas Boulevard, a trip to the Luneta, or even a quick trip by jeepney to Rizal Avenue for a movie.

N\n\i\XkiXej`k`feZcXjj ]ifd8k\e\f>J9kf8@D `e dfi\nXpjk_Xefe\%9lk`knXj flikiXej`kfipeXkli\k_XkdX[\ `k[`]ÔZlck]filjkf\jkXYc`j_ kiX[`k`fej%%%8@Dnflc[c\Xm\ GX[i\=XliXYlkk_\Ôijk8@D D9DZcXjjnflc[e\m\i^\kkf _Xm\ZcXjj\j`ek_\e\nYl`c[`e^% We were a transition class (from Ateneo GSB to AIM) in more ways than one. But it was our transitory nature that made it difficult for us to establish traditions. To begin with, we became a small class in due time. From 75 students we contracted to 69 by the start of the second year, and down to 49 by the second term of second year. AIM would leave Padre Faura but the first AIM MBM class would never get to have classes in the new building. There was some sadness at this, having seen drawings of the proposed case rooms—state-of-the-art in all facets, a far cry from the Ateneo case rooms. Our consolation was we were told our graduation ceremonies would be held there. We had a couple of changes of faculty in the first year as part of changes in assignments in the growing Institute. Santi Dumlao resigned and Toby Canto took over for WAC. Gaby, off to market AIM, was replaced by Tony Paul Golamco, a

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newly minted Harvard MBA. Paul Rosenberg was replaced by Bombie Pleno in Finance. The new AIM building was already being built and we acted as ushers during its inauguration. We had blue blazers tailored for the occasion with the AIM seal on the coat pocket. We contracted the now defunct Lord & Lady Haberdashery in Ermita, one of the betterknown haberdasheries in the city. We looked for neckties in blue and green regimental stripes but didn’t find any. The technologies available to help us with class work were to us impressive by the late 1960’s standards. When Chichos Luciano brought out his 12-digit LCD calculator for Quanti class we slide rule types drooled with envy. All our calculations would include the acronym “S.E.”, meaning “slide rule error”, or “C. E.” for “calculator error” in Chichos’ case, so Rant Castillo wouldn’t sneer at our less-than-exact calculations. Most of us were happy with portable typewriters like Olivetti’s Letter 21 or Underwood Royal. Some had access to electric IBMs. When a guest faculty, Joe Lambino, brought in one of the first of the office programmables, the Olivetti Programma 101 magnetic card reader, for our programming classes —COBOL, not ALGOL—into which we could encode 72 calculation instructions per side, we were awed. In between the first and second years we had the summer internship, three months wherein we were placed in corporate offices to work as junior officers or staff assistants to senior executives. The idea was to expose us to the world we were aspiring to join. It was a major experience for those among us who had never been to that world before. Second year brought in a new set of anxieties, mainly the Industry Study and the Management Research Report, the hypertension provoking MRR. The two were separate then. You did the industry study and then based your MRR on that study. In the case of the MRR, you had to have a company proponent, the organization you would build your MRR around. Two subjects were required, Business Policy (BP) and Development of Enterprise (DE). The rest would be electives. Gaby Mendoza taught DE. We wound up with four professors in BP— Vic A. Lim, then of Hokkaido Expo fame; Bobby Lim, formerly EVP of Philippine Air Lines; Steve


Fuller, newly installed president of AIM; and Jim Culliton, former US Tariff Commission head and a memeber of the Harvard University Advisory Group in the Philippines.

perspectives in the process. We were very fortunate as far as job prospects were concerned. We averaged seven offers per person upon graduation, and most of them from the leading corporations in the country. As the Class of 1970 approaches its 40th K_\k\Z_efcf^`\jXmX`cXYc\kf year, our get-togethers have become more fre_\cgljn`k_ZcXjjnfibn\i\kf lj`dgi\jj`m\Ypk_\cXk\(0-'Ëj quent. We try to get together as often as possible jkXe[Xi[j%N_\e:_`Z_fjClZ`Xef without boring each other during classmates’ birthdays and other special occasions. We Yifl^_kflk_`j()$[`^`kC:; ZXcZlcXkfi]fiHlXek`ZcXjjn\ instituted a monthly “kaffee klatsch” where we jc`[\ilc\kpg\j[iffc\[n`k_\emp% discuss just about anything we all feel comfortWe had Louie Faustino of S.C. Johnson for able opening up on, including projects to which Consumer Analysis & Marketing Research; the we give ourselves passionately. late Joe Drilon for Agribusiness; Jun Bernardo We are mellower and friendlier towards for Manufacturing Management; Terry Bareach other, even brotherly in our concern for celon for Advanced Finance; Mel Salazar for each other. Oh we still get on each others’ Organization Planning & Personnel Adminis- nerves many times, but we are far more adept tration, and Business Leadership & Responat making light of the differences and less sibility; and Raffy Maramba for Management acid in the ways we argue. Information & Control Systems II. Someone described us as “laid back” Ruben Ruiz, a first year student of an ear- compared to “driven” or “ambitious” or lier class who took a leave of absence joined “aggressive.” Boy de Leon says, “Some, if not us for his second year. most of us, changed particularly in the last The difficulty of doing field research then decade because we chose to centre our lives took its toll of the surviving 49 members of on values other than success as a manager.” the second year class. Many could not comPerhaps some of us, from the very start, plete their field research in time for an effecsought balances in our lives that we did not tive defence. Others who did complete the field know how to articulate then. research wound up doing so at the expense of their academics. It was a painful experience. s we look back on our Thirty-two of us graduated on April 30, lives after AIM we 1970. And as promised, it was held in the new think that a balanced Makati campus, the area that is now the guest life had always been parking area. Guests were seated on the mound a key value with as well as on the parking area proper. The stage most of us and that stood in front of the wall of what is the Library. significance, social significance, was a running theme in our arguments in class, especially when the “marK_\=`ijk8@D8clde` ket impacts” of our decisions were brought From graduation in April 1970 until the forward. Our values reflected the deep impact late 1990s many of us remained in touch with on us of the different values our schools prior each other but most went separate ways. We to AIM had engrained in us. had taken on careers in marketing and sales, We are a small class but have donated a finance and comptrollership, production, perfaculty chair to AIM. Many of us are deeply sonnel (not yet “human resources” manageengaged in socio-civic projects or serve in ment then) and executive staff work. We were in a variety of industries—banking, financing, industry and/or professional associations. manufacturing, consumer goods, real estate Jess Galang, after an outstanding stint development and brokerage, management serv- with a local oil and geothermal power developices, auditing and accounting and educational ment company, for which he earned a Triple management and support services. A Award from the alumni association, left the We took on jobs that often did not corcountry to set up businesses in Dubai where he respond to our original dreams. The two continues to showcase Pinoy managerial and years in the MBM had given us very different entrepreneurial capabilities globally.



Conrad Cuesta started with Filipinas Synthetic Corp. and is now a successful agribusiness entrepreneur helping feed a nation while Leni Verde (now Mrs. Cuesta) started with Business Machines Corp. and runs arguably one of the most successful health care NGOs, Friendly Care. Boy de Leon, after holding corporate positions in manufacturing, engineering and constructions firms, formed his own project construction management company, Surequest Development Associates which he manages to this date. Ruben Ruiz joined Philippine Aerospace Development Corporation as assistant to Bobby Lim, our prof, who was its president. Winston Mirabueno started with GenBank and stayed in the banking and finance field until a bad stroke temporarily disabled him. He is on the road to recovery. Ric de la Torre started in corporate planning with Filoil Corp. then built a career in banking, retiring a few years back. He, Conrad and their Rotary Club are deeply involved in Gawad Kalinga, helping to provide housing for the Filipino poor. Boyong Deles who worked in the fi nance area after graduation continues to financially re-engineer ailing as well as growth-seeking companies nation-wide. Joe Cam immediately went home to Davao City and grew the Cam “empire” in agribusiness and trading. His buddy, Louie Padilla, grew a trading venture into a respectable construction and development company. Both continue to provide employment to hundreds of Pinoys as do Chony Gimenez’s business ventures in publishing, hostelry, stock brokering and restaurants. Rene Sunico joined Amon trading and was subsequently put in charge of its cement operations. When foreign investors bought out the cement plants they requested Rene to stay on and continue his exemplary work. He remains CEO of several of these cement operations. Mike Suarez returned home to Bacolod to manage their family’s sugar-based businesses and subsequently became Philippine Sugar Institute Administrator before retiring to Canada to play grandfather. Alex Gaston, class president, set up his own investment management firm. Now semiretired, he continues to engage in real estate through a company he set up, Exxon Land Inc.

Elfren Cruz joined the private sector and in the 1980s served as President Cory Aquino’s Director of the Presidential Management Staff with the rank of Cabinet Secretary. He continues to have intensive involvement as Board Chairperson or member of many corporations and is also a De La Salle Graduate School of Business professor, has written a book, is working for his doctorate and writes a column in a business daily. Chichos Luciano started with Delgado Bros., Inc. and now heads Clark International Airport Corporation.

Jfd\fe\[\jZi`Y\[lj XjÈcX`[YXZbÉZfdgXi\[kf È[i`m\eÉfiÈXdY`k`fljÉfi ÈX^^i\jj`m\%É9fp[\C\fe jXpj#ÈJfd\#`]efkdfjkf] lj#Z_Xe^\[gXik`ZlcXicp`e k_\cXjk[\ZX[\Y\ZXlj\n\ Z_fj\kfZ\eki\flic`m\jfe mXcl\jfk_\ik_XejlZZ\jj XjXdXeX^\i%É Vic Lim, Jun Mercado and Boy Rubio started with Citibank. Vic and Boy continue to have outstanding banking careers while Jun migrated to the US. Vic is involved in national and international financial associations where he represents the nation’s financial executives. Einsty Padua is now Executive Director and Chief Implementing Officer for Corporate Social Responsibility of Airlift Asia, Inc., the number one Filipino global logistics company. He pursues his teenage passion for chess and was appointed a National Arbiter by the National Chess Federation of the Philippines. Allan Tolentino runs his own management consultancy and economics research outfit and continues to be our source of social, economic and political analysis from all over the globe. Gaby Nacionales early on in 1971 opted to become a vice president of a provincial college, convinced that the provinces needed and deserved good schools even more than Greater Manila did. Marilyn Alarilla built a career in foreign affairs and is now Ambassador to Laos. Lito Caragay begun and ended his career in Filipinas Synthetic Corp. He is now retired and enjoys his golf games. Rudy Menes is head honcho at Puerto Golf and Country Club in Cagayan de Oro

City and is president of the Cagayan de Oro Chamber of Commerce and Industry. Vic Ramirez started as market analyst for Philippine Standard, Inc. and is now President of Japan PNB Rentals, Inc., Director/EVP of Japan-PNB Leasing and Managing Director of CEOs, Inc. Hermie de Vera (and family) moved to Vancouver, Canada where he works for the University of British Columbia. Mayo Lopez worked in advertising for a while, served as Associate Director for the Commission on Population (one of the youngest in the country appointed to government commission directorship) and then joined AIM’s faculty where he continues to help provide management and leadership training in Asia, as well as serving as consultant to numerous private, government and NG organizations locally and overseas. He is an active member of the Management Association of the Philippines and the Center for Philippine Futuristics Research. Mary Anne Busuego, now Mrs. Topax Colayco, ended a career with Purefoods, Inc. and now helps Topax run the Colayco Foundation. Alan Jazmines, our top of the Dean’s List, was the extreme. Disillusioned with the way Philippine society was governed, he gave up on reform and chose revolution, joining the CPPNPA and becoming its finance minister until his arrest and incarceration in 1974. He was released in 1986 but chose to go back to the hills. Ric Pijuan started with Citibank and later moved to the US. Zoilo Isip is recovering from a heart ailment and is doing well in his retirement. We lost track of Ono Concepcion, Doug Anama and Ed Cruz. Pichina Avila is Mrs. Jake Peña and dabbles in real estate. May Sto. Domingo married Jun Anciano, an Ateneo MBM, and runs their family business. Carla Villa is now Mrs. Castañeda. A few of us, Charlie Nucum, Hermie Polotan and Digoy Gonzalez, have passed away. They are sorely missed in our reunions. Did the AIM MBM promise become a reality for all of us? We think that for the most part it did. Many of us think that had we not gone through the two-year annealing process of our AIM education, our lives would be substantially different today. We live fulfilling lives that continue to be, everyday, a case class for all of us. 

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@eGlijl`kf]k_\ G_`c`gg`e\:fdg\k`k`m\<[^\ FIFTY WISDOM-KEEPERS—MEN AND WOMEN WHO HAVE LIVED through crucial decades of the country’s recent history—share their recollections, insights and analyses of what Filipinos did right or wrong to bring the country to where it is now. “In Pursuit of the Philippine Competitive Edge”, the 350-page volume published and released recently by the AIM Policy Center (APC) and the Konrad Adenauer Stiftung (KAS), is the result of a project which envisioned to delve deeper into a perceived economic and social downtrend in the Philippines. “The aim was to establish, firstly, whether there has indeed been a decline; and to identify the reasons—possibly continuing reasons —for it,” explains Dr. Federico M. Macaranas, APC executive director. “This would be achieved by getting people to verbalize perceptions and observations, by recording these and systematically studying, exploring and validating their responses.” The project likewise sought to substantiate the many desk research findings spurred by the annual State of Philippine Competitiveness reports, which the AIM Policy Center prepares based on the surveys and statistical data compiled by the Switzerland-based Institute for Management Development (IMD) across over 50 countries trying to attract investors and development partners. The framework was simple. Interviews and focus group discussions were conducted by the International Movement of Development Managers (IMDM) with and among 50 people selected on the basis of their vast leadership and experience in their respective fields of pursuit and endeavor. These 50 luminaries were asked to reminisce, recount and


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reflect on 50 years of Philippine history that they had lived through and witnessed—essentially a reckoning from the post-war period. They shared experiences, observations, insights, analyses, judgments—resulting in a veritable panorama of lights and shadows, a rich tapestry of stories of what went right or wrong for the Philippines, and perhaps more importantly, why. “The responsK_\,'n`j[fd$b\\g\ij`ek\im`\n\[]fik_\Yffb es—truly an oral Xi\k_\]fccfn`e^1Gfc`k`Zf$?`jkfi`XcG\ijg\Zk`m\1Afj\ history of Philip8cdfek\#Gifjg\if:fmXi#DXli`Z`f;fdf^Xe#A\jlj <jkXe`jcXf#Afj\g_<jkiX[X#9XpXe`=\ieXe[f#I`Z_Xi[ pine life—were >fi[fe#K\fÔjkf>l`e^feX#Ai%#<[nXi[?X^\[fie# expectedly as IfjXc`e[XCfg\q#Afj\Dfc`ekXj#JXkliFZXdgf#=`[\c varied and distinct M%IXdfj#8lifiXEXmXi\kk\$I\Z`eX#>\e\ifjfJ\e^X# as the perspecC\k`Z`XIXdfj$J_X_Xe`#I\pDX^efK\m\j#Xe[?Xp[\\ PfiXZ2<Zfefd`ZG\ijg\Zk`m\1Afj\DXi`:_Xe#GXlc tives from which ;fd`e^l\q#IXdfe>XiZ`X#8dX[f>Xk@eZ`fe^#M`Z\ek\ they emerged,” Dr. AXpd\#M`Z\ek\C\f^Xi[fAi%#8c\aXe[ifC`Z_XlZf# Macaranas notes ?\eipC`d9feC`fe^#>\iXi[fJ`ZXk#9cXjKXYXiXeqXAi%# ;XcdXZ`fK\Zjfe#Xe[:\jXiM`iXkX2Xe[JfZ`f$:lckliXc in his introduction. G\ijg\Zk`m\1M`i^`c`f8cdXi`f#:\Z`c\>l`[fk\$8cmXi\q# “For the Policy <l^\e`X8gfjkfc#J`d\fe8pfZ_fb#8Yg%=\ieXe[f Center, they serve as :XgXccX#;i%IXlc=fi\j#=i%Hl`i`ef>\e\ifjf#=cfi\ek`ef a valuable resource ?fie\[f#G_`c`g<ccXAl`Zf#Ji%=`[\cXDXXdf#JG:#D%;%# 8e`kXD\`cp#=i%AXd\j9%I\lk\i#JA#IfjXIfjXc#8Yg% in affirming the direction and action >Xl[\eZ`f:Xi[`eXcIfjXc\j#;%;%#=i%8ekfe`fJXdjfe# JA#C\fefiXJXe8^ljk`e#GXki`Z`XJkf%KfdXj#B`[cXk that has been taken KX_`d`b#E`ZXefiK`fe^jfe#Xe[D`b\M\cXi[\% over the past decade of the Center’s existence. For the country in general, the material can spur a national introspection that would hopefully lead Filipinos to strategically and systematically address the root causes of the decline and to explore the possibilities for regaining regional and global competitiveness. But even at the very least, for Filipinos seeking to understand—who and why they are; why they act the way they do, or not; and what they should do and why— the collection is a treasure-trove of counsel and lessons from which to draw as they attempt to re-shape the Philippines in the new millennium.” The following are excerpts from the oral histories which show the variety and depth of the material, reflecting the richness of the experience and insight of the country’s wisdom-keepers: „ A grave contradiction lies at the heart of our social system: the contradiction between a political system based (theoretically) on the equality of citizens and a national society founded on extremes of inequality and social exclusion. -Jose T. Almonte „ Nationalism is perhaps the strongest force that can move a country forward. But we have a peculiar sense of nationalism that has prevented us from gaining the advantage that it can give us. -Gerardo P. Sicat „ The whole concept of competitiveness will only have meaning if it leads to the development of a country and it addresses the problem of poverty. I am not willing to say we are declining, but I think there is enough evidence to show that we are not keeping up with some of our neighbors who are moving faster forward. -Vicente R. Jayme „ It is true that by the standards of the West we are poor. But poverty is not an economic thing. It is a state of broken relationships, where one man says to another: “You are not my brother. I have a bodega filled with food, but you can starve!”-Fr. James B. Reuter, S.J. “In Pursuit of the Philippine Competitive Edge” is available at the AIM Policy Center, 4/F ACCM Building, AIM, Paseo de Roxas, Makati City, tel. no. 892-4011 or 750-1010 loc. 2109. For more information, email jsdelacruz@aim.edu or aimpolicycenter@gmail.com.

<k`hl\kk\>l`[\ kfk_\G_`c`gg`e\j THE PHILIPPINES IS A MELTING POT of Asian, European and American influences. Meeting friends or doing business in the country need not be confusing for the first-time visitor. The new book, “Etiquette Guide to the Philippines” by Dennis and Joy Posadas explains Filipino etiquette and other cultural considerations. A short language pronunciation guide is provided. Historical perspectives such as the origins of Filipino etiquette as well as an explanation about the socio-economic classes, Filipino family and role of religion are also given, among others. For example, you may wonder why some locals end up getting crucified during Lent. The book tries to explain the cultural nuances that lead to these practices. Meeting friends and colleagues become easier with some tips about social attire, dining etiquette, and celebrations. You may be wonder-

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doing business in the country and handling money transactions. What to do when faced with a compromising situation such as a bribe? You will get some ideas from the book on how to manage tricky situations. Many foreigners who visit the country end up marrying Filipinos. A few chapters have been dedicated to an understanding of dating, courtship, engagement and marriage practices that follow a tradition all its own. You may end up visiting some of the historical Churches or attending a funeral. These topics are also covered including what to expect when saying goodbye and leaving the country. At the end of the book is a helpful vocabulary guide. “Etiquette Guide to the Philippines” is easy to read and also a perfect corporate giveaway that helps introduce the country to the rest of the world. It aims to bridge understanding ing why you are being introduced to some adults and foster appreciation for a culture that is truly unique, sometimes misunderstood, but who have cute baby nicknames. Proper intrononetheless unsuspectingly beautiful. ductions are explained that include the use of titles and names, physical and public etiquette. You will also get practical advice on giving gifts, Dennis and Joy Posadas (MBM 1994) are visiting homes, and exploring the countryside. passionate about what it means to be Filipino. For visiting managers and businessmen, Dennis is a book author and columnist, while Joy writes freelance for various publications, the concepts of praise, saving face, having including a column on social etiquette for patience and appreciation are also discussed Appetite magazine in Manila. Both husband in detail. Foreigners are provided ideas on and wife have also contributed to Forbes Asia. how to handle local friendships or working For copies of the book, please send an email to info@ peripluspublishing.com or go to www.periplus.com. relationships. There are also chapters about

K_`ebflkf]k_\9cfZbn`k_Jl[fbl “THINK OUT OF THE BLOCK WITH SUDOKU” IS A MANUAL AND HANDBOOK ON SOLVING the 9x9 logic-based number-placement puzzle Sudoku. Learn to solve five-star or diabolical Sudokus in 25 minutes or less, and benefit from the magical power of high-performance thinking at work, at home or at play. The author, Jeff Keow, MBM 1976, has added a new dimension to the art and science of playing Sudoku, “he has articulated and manifested how solving the Sudoku requires the use of thinking skills and thinking patterns that are also required in solving problems and making decisions...but also in the acquisition of knowledge and skills for the development of human capital,” according to Dato’ Jimmy Lim Thaw Chay, District Governor of the Rotary International District 3300 of Malaysia. Dr. Wilson Tay, CEO of the Malaysian Institute of Management, lauds the book as “a practical application of basic principles and the development of managerial capability of the practitioner...The principles expounded in the book are like the principles of managerial development. ÈK_\gi`eZ`gc\j\ogfle[\[`e The five key factors to become a Sudoku champion are similar to that of developing k_\YffbXi\c`b\k_\gi`eZ`gc\j f]dXeX^\i`Xc[\m\cfgd\ek% managerial competency.” K_\Ôm\b\p]XZkfijkfY\Zfd\ Jeff Keow is currently a principal XJl[fblZ_Xdg`feXi\j`d`cXi consultant and coach with KHS Consultancy kfk_Xkf][\m\cfg`e^dXeX^\i`Xc Zfdg\k\eZp%É and Training.

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LL OF creation represents an enormous gift from God to humanity, so people have a responsibility to protect this treasure and dedicate themselves against an indiscriminate use of the earth’s resources. Learning to respect the environment also teaches respect for others and for ourselves.” -Pope Benedict XVI In 1999, Von Hernandez helped make history for the Philippines as the first in the world to ban waste incineration with the passage of the Clean Air Act of 1999. Blind to the easy solution to the country’s waste problems and to the lucrative business of burning imported trash from developed countries, Von stood at the front line to save his motherland from the devastating health impacts linked to waste incineration. Moreover, through his efforts to promote cleaner alternatives to waste incineration, the Ecological Solid Waste Management Act was adopted in January 2001. Because of his courage and influence in safeguarding the environment, Von was awarded the Goldman Environmental Prize in 2003 and was named as one of Time Magazine’s “Heroes of the Environment” in October 2007. Today, Von relentlessly continues to wage war for the protection of the environment as he leads Greenpeace Southeast Asia as Campaign Director. N_Xknflc[pflc`b\>i\\eg\XZ\ Jflk_\Xjk8j`XkfXZ_`\m\le[\i pflic\X[\ij_`g6

My vision for Greenpeace Southeast Asia is for it to become the leading and most compelling environmental organization in Southeast Asia, able to catalyze landmark changes to solve the most urgent planetary threats confronting the region especially deforestation and climate change. The big challenge before us is how to move

our societies away from an inherently destructive model of development which has spurred unrestrained resource consumption, unprecedented environmental destruction and spawned social injustice. The escalating climate crisis offers compelling proof of the unsustainable and damaging nature of the dominant development paradigm, whose definition of progress effectively marginalizes the importance of our planet’s various life support systems. Climate change, rising temperatures, the increasing frequency of extreme weather events, emerging water and food shortages, biodiversity loss, worsening levels of pollution—these are all signs pointing to an impending ecological meltdown with wildly unpredictable outcomes. If we accept the environment as the context within which all human activities, including economic ones take place, it stands to reason that society as a whole needs to give it the right, preferential treatment it deserves within our current realities. Greenpeace is committed to defending the health of the planet’s ecosystems and ultimately in redefining what progress means. We should never accept air and water pollution for example as the inevitable price of progress. Since the establishment of our Southeast Asian office in 2000, we have already achieved a number of important landmark victories for the environment in the region—stopping polluting waste incinerators, coal and nuclear power plants, halting the spread of genetically modified food crops, and securing policy breakthroughs such as laws promoting ecological waste management and the development of renewable energy systems. Under my leadership, Greenpeace will aspire to be an even more compelling force for change in Southeast Asia, not only stopping destructive projects but also challenging notions of (mis)development still blindly promoted and pursued by governments and unscrupulous corporate interests in the region. We will explore productive partnerships with various sectors even as we continue to be an independent, creative and credible voice for the environ-

ment, championing solutions and engaging the public more aggressively in order to realize our vision for a green and peaceful world. 8jXe\em`ifed\ekXcZXdgX`^e\i Xe[XZk`m`jk#n_Xk_XjY\\e pfli^i\Xk\jkXZ_`\m\d\ekjf]Xi6

I’ve contributed and shared in the achievement and celebration of a number of campaign victories. Some of these victories are local in nature, like stopping a proposed incinerator or a coal and nuclear power plant in certain places in the Philippines, Thailand and Indonesia. Such victories would not have been possible without the strong support and participation of local allies and communities. Then there are those victories which are more permanent such as our successful campaigns to secure the passage of progressive provisions in the Clean Air Act (e.g. prohibition on open waste burning and incineration) and the Ecological Waste Management Act in the Philippines. Because our advocacies are already enshrined in policy, the effect is much more long-term. Other citizens and activists could also use these policy milestones as tools to help advance related causes. Perhaps the most enduring of all and which creates a greater sense of achievement for an environmental activist like me is seeing how one’s campaign work actually influences and changes the climate of opinion on certain issues. While we challenge the political and economic power of those who can effect change, in the final analysis it all boils down to how effective we are in changing people’s attitudes and behavior. This is what makes for lasting change. The fact that more and more Filipino communities are demonstrating the wisdom and superiority of zero waste programs for managing society’s discards is a clear indication that we are moving in the right direction. To me, such initiatives epitomize the enduring triumph of common sense and public participation over ignorance, “Th e Green Hero...” continued on page 50 >>

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The Diving Priest



“The true peace of God begins at any spot a thousand miles from the nearest land,” thus says the erudite seafarer and novelist Joseph Conrad.


T MAY NOT BE MERE COINCIdence then that Fr. Tito Soquiño’s vocation has drawn him not a thousand miles away from shore, but closer to the seas of Cebu. As a preacher who practices his advocacies for the protection of the environment, his passion has led him to dive down the surreal depths of an underwater coral palace to guard the sea nearest to his hometown shores. It is uniquely Fr. Tito’s small contribution in caring for God’s creation. =XZ`e^=\Xij

In 1998, Fr. Tito was offered by his provincial superior to pursue further studies in theology in the Philippines or abroad. He opted to study at AIM. “Two priests, Fr. Bart Sagadal, MDM ’98, a theology classmate and the late Fr. Jun dela Cruz, MDM ‘95 were both AIM graduates ahead of me,” says Fr. Tito. “I was not surprised by my two priest-friends studying at AIM since the liberal and progressive theological orientation while in theology school would connect with the social development orientation of the MDM program.” The academic pressures at AIM reminded him of his life at the seminary. “Our academic life at the seminary was very rigid—we would sleep in the wee hours of the morning studying... so much like AIM,” Fr. Tito reminisces. “So my training in the seminary helped me adjust to the pressures of the MRR and case studies.” The MDM also complimented Fr. Tito’s liberal theological education. “This gave me a handle on the Augustinian Order’s justice and peace apostolate expressed now in my environmental advocacy.” He remembers the memorable scuba diving course under the

Ecosystems and Human Society class under Prof. Benjie Bagadion. “I have fear of water,” Fr. Tito confesses. Ironically, it is a fear which he will be facing more often than he would ever have imagined. K_\J\XBe`^_kj

On March 28, 2005, a breathtaking coral reef was discovered off the coast of Bgy. Poblacion by local divers from the Talisay City Swimming and Lifesaving Association. The reef was largely unscathed in spite of blast fishing and illegal fishing methods in the area. Talisay City was infamously known as the “blasting cap capital” of the country as it was here where blasting caps were “invented” for dynamite fishing. In addition, the reef was littered with nets, trash and other garbage, which endangered the growth of the reef and the fish that live in it. Miraculously, the entangled nets and the dynamite fishing were not enough to destroy the corals. Fr. Tito was invited to be an adviser of the group and since then has been diving with a scuba team, which also includes a number of priests, law enforcement officers, a journalist, a marine biologist, a medical doctor and ordinary citizens. Eventually, the local government unit of Talisay declared Lagundi Reef as a marine sanctuary. “My coming into the advocacy was more by chance. The local divers discovered the reef by accident. They would not have known that there were coral reefs there. It was impossible, they had said, for the reef to have survived the dynamite fishing in the area,” Fr. Tito shares. He goes on to describe the uniqueness of the underwater paradise. “The coral reefs there are different, a bit surreal. Hindi siya ganun kalinaw. Enchanted. Una madilim tapos biglang liliwanag. (It’s like an enchanted

place. The water is at first murky then all of a sudden becomes brightly lit).” The unusual rock and coral formations remind him of an “underwater setting of ‘Lord of the Rings’”. “We call ourselves the Knight Stewards of the Sea or ‘Sea Knights’,” smiles the adventurous Augustinian priest. With women divers also part of the environmental group, the team dives almost every week to remove the garbage if the weather is good. And they also feed the fish. To increase the aquatic stocks in the reef, regular feeding lures the fish to return to the reefs and breed. “It is a sight to behold to see hundreds of fish encircling us as we feed them,” says Fr. Tito in awe. These frequent feedings have created an inexplicable bond between the divers and the fish. “We feed the fish products from Julie’s Bakeshop, whose president and COO is Virgilio “Nonoy” Espeleta, MBM ’91, Chairman of the Alumni Association of AIM-Cebu Chapter. Once, we were underwater with a school of about a hundred fishes that were staring at our group, quietly and patiently anticipating a meal. The fish and the humans were staring at each other for several seconds when I shrugged my shoulders apologetically at the school to signify that we forgot to bring bread to feed them. All of a sudden the fish swam away as if understanding what I had wanted to say,” Fr. Tito marvels. The friendship with the aquatic creatures continues to this day. “Every time we dive, there is always something new to discover. The fishes guide us to new underwater places—we follow a group of fish then they will bring us to an area that we have never seen before. We begin to realize how God gave us this creation for us to appreciate now and for the next generation. That’s where our faith comes in,” he smiles. “That’s what makes the ‘Sea Knights’ different from the other environmental groups. Our efforts come from our faith—Diving for the Faith.” “Th e Diving Priest” continued on page 51 >>

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Going Green and Bearing It Being a green thinker and doer pulled J.R. Nereus Acosta onto the track of an AIM professorship. A three-term congressman and the principal author of the Philippines’ Clean Air Act, Clean Water Act, and Ecological Solid Waste Management Act, Neric, as he is called, was a resource speaker at the AIM Policy Center’s Climate Change and Conflict conference in April 2008 when AIM professor and former dean Nieves Confesor approached him and asked, “Would you want to teach here?” With his “parallels of existence—the academic field vis-à-vis elective politics”—he accepted the invitation.


’VE BEEN IN THE academe even as I was in politics for 12 years,” notes Prof. Acosta, who has an MA in Public Affairs from Indiana University of Pennsylvania and a PhD in Political Science from the University of Hawaii. After obtaining his PhD, he became a Doctorate Fellow of the Hawaii-based East-West Center, which conferred on him the Outstanding Alumnus award in 2006 for global citizenship and local leadership innovations. In 2004, he was the first Filipino to be named World Fellow at Yale University. Between his doctoral studies and first term in Congress, he set up a microfinance organization in Bukidnon province, Mindanao, and, inspired by the work of Dr. Muhammad Yunus, attended Grameen Bank seminars in

Dhaka. His objective was to provide “the alternative to the kind of politics that we see and is practiced in the country.” “I looked at this as a parallel effort to help move the system away from patronage and the nasty, dirty aspects of politics in the country and in the province,” he recounts. “Dr. Yunnus was very clear about building the capacities of women and families, of expanding their range of human choices... When I trained in Bangladesh, I was also inspired by the work of Amartya Sen, a Nobel Economics Prize winner. He spoke of development in terms of freedom. That’s what I really knew from my experience of Grameen banking and the work of Dr. Yunnus—development is not just about skyscrapers and better roads and infrastructure. It’s also building on the freedoms people have and can have—freedoms that allow for their capacities to expand, to be educated, to have better health, to provide for their children, to care for the environment.”

The microfi nance organization reached 1,000 families. Unfortunately, when Prof. Acosta ran for election, his political opponents and detractors punched holes into the concept of microfinance and misled not only its target beneficiaries but also voting citizens. Working with CARD NGO, a Ramon Magsaysay Awardee for 2008, Prof. Acosta is working to rebuild and grow the microfinance network to cover the whole of Northern Mindanao. Prof. Acosta represented the First District of Bukidnon in the House of Representatives from 1998 to 2007. From 2004 to 2006, he was chairman of the House of Representatives Committee on Ecology, and from 2004 to 2007, he was chairman of the Philippine Legislators Committee on Population and Human Development. For the past three years, he has been the secretary-general of both the Liberal Party of the Philippines and the Council of Asian Liberals and Democrats, a regional grouping of liberal-democratic parties in Asia. On top of these, Prof. Acosta has lectured at four universities: Ateneo de Manila, Ateneo de Cagayan, University of the Philippines, and De La Salle. “I had only very light [teaching] loads because I was in Congress,” he says. He found AIM to be a new ballgame. “AIM has a different orientation, obviously. It’s management; it’s geared towards a lot of the practitioner realities...In a sense I’ve been “Going Green...” continued on page 52 >>

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55=fik_`jkf_Xgg\e#c\X[\ij_`g`j b\p%Dfi\k_Xe\m\i#n\e\\[c\X[\ijn_f n`ccdfm\ljhl`Zbcp]ifd]fjj`c]l\cjkf jfcXiXe[n`e[gfn\i2n_fn`cci\m\ij\ \em`ifed\ekXcil`e2\dgfn\iljkf gifm`[\j_\ck\i#]ff[#d\[`ZXcZXi\#[\Z\ek c`m\c`_ff[Xe[\[lZXk`fe]fiXcc%N\ZXeefk jlim`m\Xefk_\i[\ZX[\f]mXZ`ccXk`e^ c\X[\ijjlZ_Xjk_fj\n_fXccfn\[ljkf [i`]k`ekf[\jkilZk`m\nXijXe[[`jkiXZk`e^ gfn\i`ekiXdliXcj%N\ZXeefkY\ilc\[ Yp`^efiXek#dXc`Z`flj#^i\\[pXe[j_fik$ j`^_k\[g\fgc\Xe[\og\Zkk_`e^jkfklie flkn\cc%N\e\\[c\X[\ijn_fgfjj\jj k_\m`j`fe#k_\Zi\Xk`m`kp#Xe[k_\n`cckf kiXej]fidX]\jk\i`e^gifYc\dc`b\^XiYX^\ >> “Th e Diving Priest” continued from page 46 Fe\f]k_\dfjkZ_Xcc\e^`e^`jjl\j]fi k_\J\XBe`^_kj`j[\Xc`e^n`k_k_\cfZXc]`j_$ \id\en_f[fefkZXi\]fijljkX`eXYc\]`j_`e^ k\Z_e`hl\j#k_lj[\gc\k`e^k_\]`j_gfglcXk`fe Xe[\e[Xe^\i`e^k_\i\\]`ek_\gifZ\jj% Kf[fk_`j#k_\Z`kp^fm\ied\ek_Xj Zfd\lgn`k_Xle`hl\jfclk`fe%ÈK_\dX`e gfik`fef]flinfib`jkfdXb\jli\k_Xkk_\i\ n`ccY\ef`ekilj`fej`ek_\dXi`e\jXeZklXip#É \ogfle[j=i%K`kf%ÈK_ljn\Xi\Ê[\glk`q\[ËYp k_\Z`kpdXpfi%N\_Xm\Y\Zfd\k_\gi`mXk\ j\ZkfiZfdgfe\ekf]cXn\e]fiZ\d\ekÇn\ ZXeXggi\_\e[Xe[Yi`e^`cc\^Xc]`j_\ijkfk_\ gfc`Z\jkXk`fe%K_Xk`jflidX`eafY%É K_`jYi`e^jXefk_\iZ_Xcc\e^\kfk_\ ]fi\%ÈJfd\k`d\jk_\dXpfi`ek\im\e\j%@e Xj\ej\fe\f]k_\Z_Xcc\e^\j`jk_\gfc`k`ZXc n`ccf]k_\cfZXc^fm\ied\ek#É=i%K`kfj`^_j% È8@DkXl^_kljk_Xkn\j_flc[jki\e^k_\ek_\ Zfddle`kp%N`k_k_`jb`e[f]\e[\Xmfi#n\ e\\[kf\dgfn\ik_\cfZXcZfddle`k`\jkf dXeX^\k_\`ifneZfXjkXcdXi`e\i\jfliZ\j jfk_Xkk_\pn`ccefkY\]lccp[\g\e[\ekfe k_\^fm\ied\ek#Xe[kf]fi^\jkiXk\^`Z gXike\ij_`gjn`k_k_\gi`mXk\j\Zkfi%É <[lZXk`e^k_\Ôj_\id\enXjefkXe \XjpkXjb%ÈN\_X[kfdXb\k_\di\Xc`q\ k_Xk`knXj`dgfikXekkfgifk\Zkk_\ZfiXc i\\]j%8kÔijkn\n\i\d\kn`k_Xcfkf] i\j`jkXeZ\Y\ZXlj\f]Zflij\#k_\pn\i\ lj\[kfdXb`e^Xc`m`e^k_XknXp%9lkk_\e k_\p\m\eklXccp]fle[flkk_XkYpefk kflZ_`e^k_\i\\]j]fiXg\i`f[f]k`d\#k_\ hlXek`kpf]Ôj_`ek_\Xi\X`eZi\Xj\[%K_\p ÔeXccpi\Xc`q\[k_Xkk_\ZfiXci\\]jn\i\ k_\elij\i`\jf]k_\j\X#Éjd`c\j=i%K`kf% Kf[XpCX^le[`I\\]Õfli`j_\jXjfe\ f]k_\dfjkYi\Xk_kXb`e^[`m`e^[\jk`eX$ k`fejjflk_f]:\Yl:`kp%=`j_jkfZbj_Xm\ `eZi\Xj\[Xe[k_\ZfiXcjXi\efnjX]\i]ifd e\]Xi`flj[peXd`k\YcXjk\ij%ÈDf[\jkp Xj`[\#ÉY\Xdj=i%K`kf#Èn\efn_Xm\XZfiXc ^Xi[\en`k_XeXYle[XeZ\f]jg\Z`\jk_Xk@ _Xm\efk]fle[`efk_\i[`m\Xi\Xj%É 8K_fljXe[@jcXe[j]fi k_\:_`c[i\ef]k_\J\X

`ekfXefggfikle`kpk_Xkn`cc\e\i^`q\fli Zfddle`k`\jXe[]i\\flij\cm\j]ifdk_\ d`j\ipXe[_fg\c\jje\jjjpdYfc`q\[Yp fliefkfi`fljdflekX`ejf]nXjk\% 8jc\X[\ij`ek_\`ifnei`^_k#k_\ Xclde`ZXe_\cgYi`e^XYflkk_`jdlZ_ e\\[\[kiXej]fidXk`fe`eflijfZ`\k`\j% Von Hernandez took the Program for Development Managers (PDM) in 2007. He is a doting husband to Lian NemenzoHernandez, photographer and Assistant Directress for a family managed pre-school in Quezon City, Philippines, and father to Julian Miguel, Annika Isabella, and Andres Rafael.

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20 showcase news cover THE GLOBAL FINANCIAL CRISIS ......24 &gt;&gt; Impact of the Global Financial C...


20 showcase news cover THE GLOBAL FINANCIAL CRISIS ......24 &gt;&gt; Impact of the Global Financial C...