Survival tactics urged to endure weak market

As the global economy showed no signs of stabilization, Cebuano businessmen are urged to prioritize survival strategies and consider growth only as a “bonus,” while the assurance of a positive profit margin has become an “elusive dream” for business players.

Philippine Chamber of Commerce and Industry (PCCI) chairman Miguel B. Varela warned Cebuano businessmen that it is now high time to shift to newer “business routes” as the terrain in doing business has changed.

“We need a new roadmap because the terrain has changed. The familiar routes have a big detour sign ahead. We are in an entirely different landscape,” he said.

Varela was in Cebu recently to induct the new officers of the Cebu Chamber of Commerce and Industry (CCCI).

He mentioned the continuous increases in the price of oil in the world market which now have reached the “highest level in history,” as one of the indicators of alarming “red light”.

“As if the disturbing oil price scenario is not enough, there are indicators that the economy of the United States is on the threshold of a recession, or economic slowdown,” he said.

He said there is no point of complacency in the business playing field right now. Those who want to continue with the game, has to be more sensitive in the economic development around the world, especially the recent development in the leading economic player in today’s globalized economy that will largely bring up negative repercussions for the rest of the interconnected world.

Significantly, he said the economic globalization process is gaining speed, which is unstoppable.

“This is a challenge to all—big and small. There are opportunities for the daring, the innovative and the preserving. But, there are threats for those who simply stand and wait,” he further warned.

He said there is a need for businessmen now to plan ahead, but before moving forward, “we should look around, look back and look inward.”

The usual business planning mode is not enough. It is must that everyone in the business field must take a full inventory of strengths and capabilities.

Varela, reminded Cebuano capitalists in strengthening their human resource asset, not to discount the contribution of every worker in a company operation.

“Bear in mind that the greatest asset of any enterprise is its people. The human factor is the most elastic resource available. People can be energized to walk the extra mile, to overcome any hurdle, to go several step higher to make dreams come true,” he stressed.

“The business community today both at the national and regional levels is living in the most challenging times,” he said thus, re-adjustment in the business models, and adoption of modern ways, with emphasis of human-resource-centric operations, must be implemented.