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Change or Perish:
The need for creativity and innovation
By NAPOLEON NAZARENO, President and CEO,
PLDT and Smart Communication, Inc.
Keynote speech delivered during the Management Association of the Philipines CEO Conference 2005 at the Shangri-La Manila Hotel
October 17, 2005, Makati City
Good morning ladies and gentlemen!
About three years ago, I gave a speech about how much entertainment now influences the way we do business. It's called the "e-factor" and its growing importance is actually an irony of sorts. Continue below.
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We business executives like to think of ourselves as serious people who are not easily charmed by the glitter of the entertainment world. In real life, we are suckers for celebrity. In fact, we rely a great deal on the drawing power of megastars to sell our products and shape our image.
Today's conference is a demonstration of the e-factor at work. Just look at our theme. "Change or Perish!" It sounds like a movie title. So much danger and drama! You get this sense of utmost urgency. The globalizing economy poses so much danger and opportunity.
To be sure, disruptive change has always been part of doing business. But never has the world been in such turmoil.
Technology and markets are moving with breathtaking speed. Industries are going through wrenching structural shifts. Old business models are being demolished and replaced with new ones. Competition is relentless, ruthless and ubiquitous.
Today. There are no safe businesses anymore. Everyone - big or small - is feeling the heat. The garlic and onion farmers or northern Luzon are besieged by imports from Taiwan and China. The toyo and patis makers of Malabon and Navotas must now fight for shelf space against products from Thailand.
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