Abstract Science Construction’s business is in planning, developing and building road projects. The major of its clients are municipalities, city governments, and other public sector entities. While the bankruptcy rates for these clients is very low, when economic downturns happen, their ability to pay in a timely fashion also suffers. This leads to businesses such as Science Construction needing to take on additional debt and to find creative methods in order to stay afloat during times of recession. Methods such as selling accounts receivables at discounted rates and taking larger lines of credit through banks and other lending institutions are some of the ways organizations can remain viable when their cash inflows have turned into a trickle. Science Construction is asking the Turkish Courts to postpone their bankruptcy proceedings for a year while they attempt to restructure. Through this, suggestions such as forcing shareholders to pay their debt to the organization, gaining credi
The Banaue rice terraces in Northern Luzon, Philippines are an example of ancient, traditional and modern strategic management. Settled in the Ifulgao mountains by the Batad indigenous people are thriving rice terraces that have been growing rice and vegetables for over 2,000 years. A spring at the top of the mountain fuels a reservoir that irrigates the terraces through dams, mud, stone and bamboo pipes. No modern equipment or chemicals have ever been used. Bare feet prepare the land. The terrace ‘paddies’ curve the contour of the mountain at differing widths as giant steps and if laid side to side would cover half the globe. The culture includes farmers who own one hectare of terraced land with intensive cultivation. The Ifulgao Rice Terraces were inscribed into the UNESCO World Heritage List in 1995 as an outstanding model of sustainable land use with traditional knowledge-based technology. UNESCO recognized the living organically-evolved cultural landscape, sacred traditions and the ingenuity of the Ifugao people (Chemma, 2009). They were built without forced labor and are considered the 8th wonder of the world (Abreu, 2012).
There are different stakeholders that have legitimate interest in the Banaue rice terraces. The corporate stakeholder is the Batad indigenous who are interested in cultivating a small piece of land into a thriving source of food. The internal stakeholders are the individual families that own and maintain their one hectare of terraced land with intensive cultivation. The external stakeholders include the UNESCO World Heritage organization and the Philippine country as the terraces are now a form of tourism and model of sustainable land use (Boundless, N.D).
Strategic Management is both an art and a science and answers the question "Why do some firms outperform other firms?” The Banaue rice terraces in Northern Luzon, Philippines are an example of ancient, traditional and modern strategic management. The technology is ancient. The culture is traditional. Incorporating the area as a UNESCO World Heritage site and eighth wonder of the world is modern. The actions and events involving the Batad indigenous influence the paddies success through creativity and Professor Henry Mintzberg Five P’s of defining strategy. The five P’s are how strategy can be viewed as a plan, as a ploy, as a position, as a pattern, and as a perspective. The Plan laid out are carefully crafted steps that are molded to the surface of the mountain. The Ploy is a specific move to use the design of the mountain to naturally irrigate the rice and vegetable paddies. The Pattern is the degree of consistency that the Batad indigenous have used to successfully cultivate the land for over 2,000 years. The Position relative to their competitors in their industry is that they are a model example of not needing modern equipment or chemicals. The Perspective is that the Batad indigenous people have been able to maintain their livelihood and culture without needing modern technology for thousands of years (Ketchen, 2012).
Banaue Rice Terraces
(Abreu, 2012)
References
Abreu, Alex. (2012, July 4). Ifugao Rice Terraces: 8th Wonder Of The World. Retrieved from https://trebonasomreb.wordpress.com/2010/06/04/ifugao-rice-terraces-8th-wonder-of-the-world/
Boundless.com. (N.D). Business Stakeholders: Internal and External. Retrieved from http://oer2go.org/mods/en-boundless/www.boundless.com/accounting/textbooks/boundless-accounting-textbook/introduction-to-accounting-1/overview-of-key-elements-of-the-business-19/business-stakeholders-internal-and-external-117-6595/index.html
Chemma, Grace. (2009, Apr 21). UNESCO – Ifugao Rice Terraces. Retrieved from http://tourism-philippines.com/ifugao-rice-terraces/
Ketchen, D & Short, J. (2012). Strategic Management: Evaluation and Execution. This book is licensed under a Creative Commons by-nc-sa 3.0 license.
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