The Sick Man Can Become Strong. A Competitive Strategy Analysis Paper on the Philippines

Anthony Betia

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Essay from the year 2023 in the subject Economics - International Economic Relations, grade: 1,0, University of Asia and the Paci...

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Essay from the year 2023 in the subject Economics - International Economic Relations, grade: 1,0, University of Asia and the Pacific, course: Master of Science in Management, language: English, abstract: 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.