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Phases of Economic Development

The document discusses the phases of economic development and staffing processes in organizations. It describes: 1) The definition of economic development and its phases, which includes not just economic growth but also social, political, cultural, and environmental aspects. 2) Factors that affect the present and future needs for human resources in organizations, including external factors like economic and technological changes, and internal factors like company goals and salary scales. 3) The process of staffing in organizations, which involves identifying job requirements, assessing current employees, recruiting and selecting candidates, and ongoing training and evaluation of human resources.

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Marlene Agcaoili
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4K views

Phases of Economic Development

The document discusses the phases of economic development and staffing processes in organizations. It describes: 1) The definition of economic development and its phases, which includes not just economic growth but also social, political, cultural, and environmental aspects. 2) Factors that affect the present and future needs for human resources in organizations, including external factors like economic and technological changes, and internal factors like company goals and salary scales. 3) The process of staffing in organizations, which involves identifying job requirements, assessing current employees, recruiting and selecting candidates, and ongoing training and evaluation of human resources.

Uploaded by

Marlene Agcaoili
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Phases of Economic Development

Kurt Calvin O. Espiritu


Definition of terms

 Economic Development- is a total process which includes not only economic


growth or the increase in the given amount of goods and services produced by the
country’s economy but also considers the social, political, cultural, and spiritual
aspects of the country’s growth.

 Economic development phases- are the distinct stages invloved in the total
process of economic development in a particular country; these include economic
growth, improvement of Human Development Index, availability of benefits
provided by science and technology, and the societal improvement of the
opportunities and general welfare of its members.
Although material wealth accumulation is among the concerns of genuine
economic development, its greater concern is the total improvement of the
quality of people’s lives. This, in turn, is related to sustainable economic
development issues in a country which greatly influence business
management.
Sustainable economic development ensures that the present needs of a
particular generation are met in full without endangering the ability of future
generations to also fully meet their own needs. Business managers must be
conscious that the decisions they make regarding their perspective
organizations activities must not lead to the abuse of ecological elements-
air,water, and soil- as this will threaten sustainable economic development
Different countries have different management strategies to encourage ecological
respect and to prevent, in the best way they could, damage to the environment.
Common environmental and ecological problems that have to be deal with by business
include destruction of natural habitats, depletion of clean water resources, urban,
industrial,and agricultural pollution, and others.

In September 2000, world leaders gathered for the Millennium Summit, and thus adopted
the United Nations (UN) Millennium Declaration . In so doing, they had committed their
nations to a global partnership toward the reduction of extreme poverty and the pursuit
of the millennium development goals (MDG)
 Adam smith was the first “development economist” His work the wealth of nations,
was published in 1776. The scientific study of the processes and problems of society in
Asia, Africa, and North America has emerged only over the past 50 years.

 The Human Development Index (HDI) is an socioeconomic development based on


data regarding life expetancy at birth, educational attainment, literacy, and
adjusted real income per capital.
The MDGS, according to the UN, are “the world’s time- bound and quantified targets for
addressing extreme poverty in its many dimensions- income poverty, hunger disease, lack of
adequate shelter, and exclusion- while promoting gender equality, education, and
environmental stability”, The deadline for the fulfillment of the MDGs was set for 2015.

The following are the MDGs


1. Eradicate extreme hunger and poverty
2. Achieve universal primary education
3. Promote gender equality and empower women
4. Reduce child mortality
5. Improve maternal health
6. Combat HIV/AIDS, Malaria , and other diseases
7. Ensure environmental sustainability
8. Develop a global partnership for development
Meanwhile, the National Economic and Development Authority (NEDA) has laid out the
Philippines Development Plan (PDP) 2011-2016, which “adopts a framework of inclusive
growth,which is high growth tht is sustained, generates mass employment, and reduces poverty”.

The PDP is focused on the following areas;

1. In Pursuit of Inclusive Growth


2. Microeconomic Policy
3. Competitive Industry and Services Sectors
4. Competitive and Sustainable Agriculture and Fisheries Sector
5. Accelerating Infrastructure Development
6. Towards a Resilient and Inclusive Financial Sector
7. Good Governance and Rule of Law
8. Social Development
9. Peace and Security
10. Consevation, Protection, and Rehabillation of the Environmenta and Natural Resources
It is evident from the PDP focus areas that it covers not only the economic and industrial goals of
the Philippines, but the social, environmental, and peace and security aspects as well.

The MDGs and the PDP can help guide the management of business in the Philippine setting. In
particular, the PDP must be taken into consideration in order to deem management as appropriate or
country- specific.

Another potential means for economic growth and development is the planned integration in 2015 of
the ten Southeast Asian nations, which include the Philippines. The Association of Southeast Asian
Nations (ASEAN) Economic Community (AEC) could help the Philippines achieve its goal of inclusive
growth that creates jobs and reduces poverty.

According to joint study by the International Labor Organization as the Asian Development Bank titled
“ASEAN” Community 2015: Managing Integration for Better Jobs Shared Prosperity; Released in October
2014, the success of the AEC lies in decisive actions taken by member states regarding policy
recommendations, strengthening regional cooperation that may bring about structural changes,
improvement of business and job quality enhancement of skills boosting productivity, better wages, and
management of labor migration.
These may ensure that the benefits of equitable growth and development
are shared among member countries and sectors. Since the AEC is envisioned
to become a single common market and production base for an estimated
600 million people of different nationalities, it means freer flow of goods,
services , investments, and labor. The study concluded the “new opportunities
for growth and prosperity may emerge but the challenge is to ensure the
growth is inclusive and prosperity is shared”.

Obviously , managers of business here in the Philippines must be concerned


about the findings of the study, as these are new challenges for them. The
improvement of management style and the skills training and education of
their human resources are needed in order to cope with the possible changes
that will be brought about by the ASEAN integration in 2015.
Definition and Nature of Staffing
The number of managerial human resources needed by an organization depends on the size
and complexity of its operations, its plans for branching out or increasing products, and turnover
rates of both types of human resources, among others. Besides considering their number, the
qualifications for the individual position must be identified, so that the best- suited individuals for
the job positions may be selected for hiring.

The Management and Non-managerial Human Resources Inventory


Awareness of the management potential within an organization can be accomplished with the
use of an inventory chart, also called management succession/replacement chart. This chart is
similar to the general organization chart used by the company but limited to managerial positions
and the names of potential successors (promotable, satisfactory but not promotable, dismissed,
etc.). Recruitment by external means may follow if there are no qualified successors.
the need for non-managerial human resources may be ascertained by the use of a general
organization chart to identify vacant job positions that need to be filled or by direct reports from
department/unit heads of supervisors. Managers need not make detailed succession planning as
these job positions are less sensitive. Suggestions for internal replacements or successors for
vacant non-managerial positions are usually done as the need arises. External recruitment also
follows if no one within the organization is fitted for the job position that was declared vacant.
External and Internal Forces Affecting Present and Future Needs for
Human Resources

Present and Future needs for managers and other human resources are
affected by both external and internal forces. External forces include economic,
technological, social, political, and legal factors. For example, economic
progress in a particular country may bring about increased needs and wants
among people, resulting, in turn, in increased demand for certain products,
followed by the expansion of the company and its work certain products,
followed by the expansion of the company and its work- force, as well as
increased demand for managers. Information explosion coming from the
internet, from business publications, or from the labor department of countries
may give either encouraging or discouraging long-term trends in the world labor
market and, thus, cause an increase or a decrease in demand for managers
and other human resources.
The firms goal and objectives, technology, the types of work that
have to be done, salary, and the kinds of people employed by the
company, are among the internal factors or forces that affect
staffing. For example: salary scales offered by a company may not
be high enough to attract personnel who are really qualified for the
job; also, this may encourage fast managerial and labor turnover
Definition of terms

staffing- refers to filling in all organizational job positions and keeping


these filled; it is done by identifying job position vacancies, job
requirements, workforce requirements, checking the internal
environment of the organization for the human resources available,
recruiting, selecting, placing, promoting, evaluating, career planning,
development and training, and compensating, among others
System approach to staffing – is the step-by-step way of filling job
positions in organizations, considering variables like numbers and
kinds of human resources needed, open managerial and non-
managerial positions, potential success to open job position, etc.

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