In PLDT President Manuel V. Pangilinan’s keynote speech at the 43rd annual meeting of the Philippine Economic Society in November, when he had just been chosen as “Management Man of the Year” by the Management Association of the Philippines he likened corporate governance with public governance. “It is tempting—if not hazardous—to draw similarities between corporate governance and public governance, between our experience at PLDT and our view of the Philippine economy.”
He argued that public governance has much to learn and benefit from the financial cost-cutting and income-generating techniques and measures used in corporate governance, and provided the example of his stewardship of PLDT, to show how a once problematic and cash-strapped company can be transformed into a booming and profitable one. This series of articles, instead, will focus on the other aspect of the relationship between corporate and public governance: that is, whether corporations should take upon the functions of public governance.
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