Mae Jeryl I.

Tongol
Ma`am Roda Jean Patino

BSBA 1-FIN
July 10, 2015

Philippine Business Environment

The Philippines is a Southeast Asian country with a developing economy so the business
environment and the way of thinking is completely different than in a first world Western country.
The most important asset that the Philippines has to showcase to the rest of the world is its
people and is the third largest English speaking country in the world.
The Philippines' IT market is primarily being driven by extraordinary growth in outsourced ICT
services. The Philippines strongest market niche is in IT-enabled services or call centres. More
and more companies are making infrastructure investments to support the demand for call centre
facilities.
The Philippines is a world leader in renewable energy with a third of its total electric power
needs met through renewable sources.
Demand for power will continue to grow strongly, driven by the expected increase in economic
and industrial activity and the countrys growing population. The industry estimates demand for
electric power will grow 9% annually, at least until the end of the decade.
The Philippine market for water resource equipment/services is expected to grow by about 5%
in the next two years.
The medical industry in the Philippines is almost totally dependent on imports. The medical
equipment sector continues to present good opportunities for Western firms.

Human Resources
Human Resource refer to the individuals or personnel or workforce within an organization
responsible for performing the tasks given to them for the purpose of achievement of goals and
objectives of the organization which is possible only through proper recruitment and selection,
providing proper orientation an induction, training, skill developments, proper assessment of
employees (performance appraisal), providing appropriate compensation and benefits, maintaining
proper labor relations and ultimately maintaining safety, welfare and health concern of employees,
which is process of the human resource management.
Economic Environment
Economic Environment refers to all those economic factors, which have a bearing on the
functioning of a business. Business depends on the economic environment for all the needed
inputs. It also depends on the economic environment to sell the finished goods. Naturally, the
dependence of business on the economic environment is total and is not surprising because, as it
is rightly said, business is one unit of the total economy. Economic environment influences the
business to a great extent. It refers to all those economic factors which affect the functioning of a
business unit.
Political Environment
Political Environment is the state, government and its institutions and legislations and the
public and private stakeholders who operate and interact with or influence that system. Political
environments may range from a democratic system to communism with other variations between
these ideological extremes. In international construction, like in international business, one has to
deal with governments as they are presently structured with all their diversity, and even
regressiveness.