This paper offers a comprehensive competitive strategy analysis on the Philippine economy. It examines the local processes and industries in the light of 2023 economics, and adds insight into possible solutions moving forward with innovation.
The former Philippine President Ferdinand Marcos coined the name "the sick man of Asia", which the title of this paper also refers to. This description was due to the fact that the country, despite having key natural resources, a strong pool of talent, and opportunities to develop, many factors continue to hold it back from becoming globally competitive. The author argues that Marcos' nickname is still relevant today and lists several reasons for why the country has not yet succeeded.
The first part discusses the topic of inclusion, or rather the lack thereof. The concept of inclusion here means the economic gains and opportunities are equally accessible to all citizens. While the Philippines are doing quite well according to their GDP, domestically the country deals with high povery rates and a huge financial split through the society. In the second part of the paper, the author analyzed the impact colonialisation has had on the country and its understanding of trade and import and export. In the last step, the author discusses industries and processes that carry potential and opportunities for innovation.
Inhaltsverzeichnis (Table of Contents)
- People: The Philippine's Greatest Asset and Opportunity
- Colonial Mentality: The Hindrance to Innovation
- Opportunities for innovation: Industries and Processes
- Agriculture
- Manufacturing
- Entertainment
- In Summary: Porter's Diamond
- Factor Conditions
- Demand Conditions
- Related and Supporting Industries
- Firm Strategy, Structure and Rivalry
- Leadership, government, promises and outlooks
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper aims to analyze the factors hindering the Philippines from achieving global competitiveness and explores potential solutions for the country to overcome these challenges. It focuses on the concept of competitive advantage, drawing upon Michael Porter's diamond framework to highlight specific areas for improvement.
- The impact of colonial mentality on innovation
- The need for improved demand conditions to drive innovation
- The role of government in fostering a competitive business environment
- The importance of education and research in developing a skilled workforce
- The potential of the Philippines to leverage its strengths and achieve global competitiveness
Zusammenfassung der Kapitel (Chapter Summaries)
- People: The Philippine's Greatest Asset and Opportunity: This chapter highlights the unique characteristics of Filipinos, emphasizing their hard work, resilience, and family-oriented values. It also discusses how these traits contribute to their success in various industries, particularly in seafaring and nursing.
- Colonial Mentality: The Hindrance to Innovation: This section explores how the Philippines' colonial past has shaped its cultural landscape and hinders innovation. It discusses the lingering effects of colonization on Filipino mentality, including a preference for foreign products and services, and a lack of assertiveness in demanding change from corrupt institutions.
- Opportunities for Innovation: Industries and Processes: This chapter examines various industries within the Philippines where innovation is critical for economic growth. It explores the challenges and potential solutions in the fields of agriculture, manufacturing, and entertainment. Specific examples are provided to illustrate how innovation can be achieved within these sectors.
- In Summary: Porter's Diamond: This section applies Porter's diamond framework to analyze the competitive advantage of the Philippines. It examines the country's strengths and weaknesses in terms of factor conditions, demand conditions, related and supporting industries, and firm strategy, structure and rivalry.
- Leadership, government, promises and outlooks: This chapter addresses the role of government in fostering innovation and competitiveness. It emphasizes the need for government policies that promote research, globalization, deregulation, and control of corruption.
Schlüsselwörter (Keywords)
This paper focuses on the themes of competitive advantage, innovation, colonial mentality, economic development, and the role of government in promoting growth. It explores the impact of these factors on the Philippine economy and suggests strategies for achieving global competitiveness. Key concepts include Michael Porter's diamond framework, brain drain, demand conditions, and the importance of education and research.
- Arbeit zitieren
- Anthony Betia (Autor:in), 2023, The Sick Man Can Become Strong. A Competitive Strategy Analysis Paper on the Philippines, München, GRIN Verlag, https://www.hausarbeiten.de/document/1341985
