SM exec pushes entrepreneurial revolution

Teresita Sy-Coson, executive vice president of the SM Group, is strongly espousing an entrepreneurial revolution especially among the Filipino youth.

Entrepreneurship, according to Sy-Coson, is "one of the best hopes of the unemployed and the graduates who are unable to join the shrinking working force."

As keynote speaker of the 26th National Conference of Employers yesterday at the Manila Hotel, Sy-Coson stressed the need for a "more focused, organized and more sustainable campaign for the businessmen and entrepreneurs to thrive amidst the uncertainties and the systematic slowdown we are experiencing today."

At the same time, Sy-Coson sees the need for government support to create an atmosphere conducive to the growth of entrepreneurship.

Among the actions that government needs to take, Sy-Coson said, are more infrastructure building, legislative reforms and governance to encourage business development which would provide more jobs.

Government, additionally, Sy-Coson said, should improve the educational system so that "Filipinos can cultivate their talents and compete globally."

For his part, Employer Confederation of the Philippines (ECOP) chairman Miguel Varela added that local industries must stop relying on "old-style protectionism" nor in "new-style liberalism".

Instead, Varela urged local industries to engage in "niching" and continuous upgrading towards global competitiveness.

Companies that continually improve their products and services, and engage in strategic niching and networking, invest in good labor and human resource management practices, Varela pointed out, are the most competitive.