Bringing the BusinessWorld platform on-ground
By Bjorn Biel M. Beltran, Special Features and Content Assistant Editor
EVEN GOING BACK to its roots as Business Day more than fifty years ago, BusinessWorld’s purpose was to become a public trust. As such, the strict adherence to truth, integrity, and public service had become the company’s guiding star ever since.
It is a natural evolution then, that now as a fully multimedia company, BusinessWorld has become known for a platform for expert analysis and engaging discussion about the development of the Philippine business community.
The BusinessWorld Economic Forum, one of the media company’s yearly events, has become one of the most anticipated gatherings of the Philippine business sector.
Back in 2016, the company recognized the opportunity to create a new revenue stream and content platform by holding an annual on-site large-scale event. By that point, print advertising revenue had already begun to fall steadily for newspapers.
Keynote speakers at the time included Manuel V Pangilinan, chairman of the MVP Group of Companies; former Finance Secretary Carlos G. Dominguez III; and former Vice-President Maria Leonor G. Robredo. Other speakers included public and private sector representatives. About 850 of the country’s most influential CEOs, business owners, and policy makers came together for the forum, marking the start of a new era for BusinessWorld.
Successive editions of the Economic Forum have cemented its status as a must-attend gathering for the country’s leaders and newsmakers, as they have shed light on the most pressing trends, challenges, and opportunities currently impacting the global economy.
This year’s forum centered on how the Philippines is faring in the global sustainability transformation, on the theme titled “The Digital Future: Accelerating Business and Sustainability,” held at the Grand Ballroom of Grand Hyatt Manila in Bonifacio Global City, Taguig City on May 25.
“Over the past decade, two key transformations have dominated these sorts of discussions in the business community, namely, digitalization and sustainability,” Miguel G. Belmonte, president and chief executive officer of BusinessWorld, said in his opening remarks at the event.
“The COVID-19 pandemic, which thankfully is now behind us, has served as a catalyst for many such conversations. It accelerated the adoption of new and emerging technology for many businesses, ours included, and have pushed consumers into thinking about broader concepts of sustainability,” he added.
Key speakers at the event included Ivan John E. Uy, secretary of the Department of Information and Communications Technology; and Riccardo Puliti, regional vice-president for Asia and the Pacific at the International Finance Corp.
“It’s really important to underline the role of the newspaper in providing credible and factual news. That’s what people need to realize,” Lucien C. Dy Tioco, executive vice-president of BusinessWorld and its umbrella brand PhilStar Media Group (PMG), had said.
“For newspapers, it’s important to fight for our role in this space, especially since there’s a need for us to level things in providing accurate and truthful information. With BusinessWorld, it’s more important to provide confidence to the business community, giving them information on what is going on with the economy and what are the developments happening around the globe,” Mr. Dy Tioco added.
When the pandemic was in full swing, this responsibility had become of prime importance, not only to the larger business community, but to the company’s survival. And at a time when COVID-19 was wreaking havoc on every industry, BusinessWorld pulled through.
The BusinessWorld Virtual Economic Forum (BW VEF) has distinguished the BusinessWorld brand by hosting in-depth discussions with prominent figures from around the world completely online. The forum, in tandem with other digitally-focused initiatives, has helped the firm weather the disruptive waves of the pandemic.
In 2020, the BW VEF attracted 1,200 people, 40% of whom were C-suite executives or department heads. With 538 people, BW VEF 2021 surpassed its attendance goal by 108%; 66% of these attendees were presidents, vice-presidents, C-level executives, directors, and regional heads. However, there are 651 people that signed up to attend BWVEF 2022.
Jay R. Sarmiento, sales and marketing director at BusinessWorld, said that the forum’s success can be seen in the positive comments left by attendees, the positive responses from speakers, and the willingness of existing sponsors to continue supporting the forum as it transitions from physical to digital form.
Meanwhile, BusinessWorld Insights, a series of online video conferences hosted by the publication during the pandemic, aimed to bring its brand of quality professional journalism to the digital platform by convening some of the country’s movers and shakers to discuss the dynamic nature of the Philippine business landscape, the opportunities and threats it faces, and the trends that will shape its future.
“I’m proud of the fact that when the pandemic happened, BusinessWorld was able to adapt well. It was easy for us to shift online, especially for our editorial team,” Mr. Dy Tioco had said.
He also noted that BusinessWorld Insights, as a fresh online news and analysis platform, has successfully transferred the company’s decades-long reputation for accuracy and reliability into the digital realm.
“That was really helpful for the business community, especially when everybody was in crisis and were looking for advice on how to navigate the situation. I think BusinessWorld is poised to continue to provide the information on trends and analyses that the business community is looking for,” Mr. Dy Tioco said.
“I’ve been hearing a lot of good feedback from the business community, especially during the pandemic. We were given praises for what we have been providing with BusinessWorld Insights and the BusinessWorld Virtual Economic Forum. That gives us the incentive to adapt to the times, to be of service to businesses, informing them of what to do during crises,” he added.
Recent accolades for BusinessWorld from prestigious award-giving agencies also attest to the Economic Forum’s and BusinessWorld Insights’ continuing relevance.
The 19th Philippine Quill Awards, given to the year’s top communication programs, tools, and research initiatives, included the inaugural BW VEF as a winning entry. Additionally, in the awards program’s Communication Skills category for last year, BusinessWorld won for both its BW VEF and the new Forecasts forum.
Meanwhile, BW VEF 2021 was recognized with a special prize at the 21st Asian Media Awards (AMA) presented by the World Association of News Publishers.
BusinessWorld now joins the distinguished group of recipients of the AMA’s special prize, alongside Nikkei Asia from Japan, the South China Morning Post from Hong Kong, SPH Media from Singapore, and Media Indonesia from Indonesia.
“I just feel that our win on the Asian stage is just one step over being recognized globally,” Mr. Dy Tioco had said.
In addition, BW VEF 2022 has also been recognized at The 58th Anvil Awards 2023, bagging a silver award for Events and Exhibit — Conference/Convention. The BusinessWorld Economic Forum had previously been recognized by award-giving bodies like the Philippine Quill Awards, The Media Specialists Association of the Philippines ICE Awards, and the Anvil Awards every year since its inception in 2016.
Ms. Sarmiento agreed. “BusinessWorld Insights has been recognized by both Anvil Awards and Quill Awards for excellence in communication programs and special events. These awards are validations that our efforts are indeed worth-taking and valuable,” she had said.
“I think that BusinessWorld Insights has owned the digital space in terms of online forum and discussion. From our very first once-a-month run in April 2020, BusinessWorld Insights has become synonymous to relevant online discussions on business matters that, at present, we are able to mount almost weekly public and private online fora. This initiative has not only given us growth in online audience but has also earned us the trust of advertisers as they continue to support BusinessWorld Insights through sponsorships, thereby, significantly contributing to our bottom lines.”
Ms. Sarmiento added that the resuming of on-ground discussions, alongside the digital initiatives, can only add to the BusinessWorld’s growing repertoire of outstanding event offerings.
After several fora held online, BusinessWorld Insights has been brought on the ground last Feb. 28 with a forum that looked into the prospects and outlook for the stock market this year at Sheraton Hotel in Pasay City. Speakers included April Lynn Lee-Tan, first vice-president of COL Financial Group, Inc.; Michael Gerard D. Enriquez, president and chief investment officer of Sun Life Investment Management and Trust Corp.; Luis Gerardo A. Limlingan, currently head of sales at Regina Capital Development Corp., and Jong Layug, vice-president and head of wealth management at GCash.
“For me the most rewarding part of BusinessWorld’s offerings like the Economic Forum and Insights is that we are able to actually make our business stories from our newspapers come alive and become more dynamic and interactive through actual face-to-face, on-ground discussions and idea-sharing,” Ms. Sarmiento said in a more recent interview.
“The most difficult part, or may I say the most challenging part, would be putting together the agenda and speakers’ lineup of the forum to make it most interesting and relevant to the business community,” she added.
These events, she also pointed out, continue to build on BusinessWorld’s reputation among the country’s business leaders and policy makers, and essentially embody the principles that BusinessWorld was founded on.
“Of course, this helps us extend the life of print and it promotes our brand as a business paper. But more than that, when we are able to engage people through a lively discussion, elicit them to share their thoughts and ideas, and from these discussions to be able to elevate and contribute to empowering businesses to thrive and flourish for the benefit of the people, then I guess that is most rewarding for us.”
More recently, Mr. Dy Tioco remarked on the significance of BusinessWorld’s ever-growing reputation to the overall influence of the PhilStar Media Group, especially with their more community-focused initiatives.
Among these is the advocacy initiative “Nakakalocal: Love Local, Grow Global,” which began last year with the intention of encouraging consumers to shop at local establishments, especially small and medium-sized businesses (SMEs), that make quality goods.
To make a significant advocacy statement, “Nakakalocal” makes use of all of PMG’s resources, including BusinessWorld. The plan has the backing of the country’s largest business institutions, which will allow for the development of a comprehensive infrastructure to aid SMEs in the Philippines.
Another new initiative is Project KaLIKHAsan, PMG’s newest initiative that converges print, digital, and on-ground platforms to raise the cause of meaningful and concrete sustainability in industries and communities.
BusinessWorld mounted its first three BusinessWorld Insights fora under the said initiative. The first one, themed “Making Way for Sustainable Mobility,” gathered Electric Vehicle Association of the Philippines President Edmund A. Araga, National Bicycle Association Director and Founder Benedict L. Camara, Toyota Mobility Solutions Philippines, Inc. President and CEO Ma. Cristina Fe N. Arevalo, and Aboitiz InfraCapital Economic Estates Vice-President for Inventory Generation Jolan Formalejo to discuss initial steps and potential next ones towards getting to places more sustainably. It was held online last June 29.
This was followed by an on-ground forum carrying the theme “Sustaining the Future of Energy” last July 26 at Shangri-La the Fort, Manila in Bonifacio Global City, Taguig. It featured keynote speeches from Independent Electricity Market Operator of the Philippines President and CEO Atty. Richard J. Nethercott and Energy Secretary Raphael Perpetuo M. Lotilla, and panel discussions with several experts and executives from energy generation, regulation, distribution, and efficiency fronts.
More recently, last Aug. 30, an online forum themed “ESG, A Bridge to A Greener Environment” tackled the potentials of the environment, social, and governance standard in propelling businesses to help addressing the country’s pressing environmental issues. Comprising the panel were Floradema Eleazar, Outcome Leader of the United Nations Development Programme Climate Action Team in the Philippines; Chaye Cabal-Revilla, chief finance officer and chief sustainability officer of Metro Pacific Investments Corp.; and Mr. Formalejo of Aboitiz InfraCapital Economic Estates.
“The value that BusinessWorld lends from its business fora offerings is that it provides a sharp lens to the issues and insights from our editorial expertise and its clout of influence not only within our business community but also its ability to reach out to global economic leaders and experts. This is because of the high regard and respect for our news organization for the past 36 years,” BusinessWorld’s Mr. Dy Tioco shared.
“This is why the PhilStar Group has relied on BusinessWorld on its contribution to its latest advocacy projects, Nakakalocal and Project KaLIKHAsan to be able to share its economic expertise in helping our MSMEs and help break ground for innovative solutions that will pursue sustainability.”
