ORGANIZATION AND MANAGEMENT | QUARTER 1-WEEK 4 1

DAVID, CHARLENE JEN Q. ABM-101

MODULE 4:
PHASES OF ECONOMIC DEVELOPMENT

*NOTE: If you’re having a hard time understanding my penmanship po,

please refer on page 5 for the “typed version”. Thank you.

DAVID, CHARLENE JEN Q.| ABM-101

ORGANIZATION AND MANAGEMENT | QUARTER 1-WEEK 4 2

DAVID, CHARLENE JEN Q.| ABM-101

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DAVID, CHARLENE JEN Q.| ABM-101

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DAVID, CHARLENE JEN Q.| ABM-101

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ANSWERS

WHAT I KNOW

1. Provides goods and

services to meet people's
needs

6. Contributes to the
2. Provides jobs for people
provision of resources that
and creates opportunities
the country and society
for them.
needed.

ROLES OF BUSINESS

5. It contributes to the 3. Assists in the discovery

development of a strong of technological
economy because of its advances.
tax payment.

4. Assists in the
preservation of local
products

DAVID, CHARLENE JEN Q.| ABM-101

ORGANIZATION AND MANAGEMENT | QUARTER 1-WEEK 4 6

WHAT'S NEW
• Indeed, the Philippines is considered a developing country in the year 2019 since there's
a rise in its GDP. From 6.0, it became 6.2 which means that our economy was
continuously having progress and our country was performing well. Furthermore, an
increase in a country's GDP indicates that the country is experiencing economic growth.

WHAT'S MORE
1. Economic development is not synonymous with economic growth because it
encompasses many more aspects and has a broader definition. Whereas economic
development focuses on all aspects of an economy's growth, such as qualitative and
quantitative dimensions, economic growth is solely concerned with the rise in products
and services produced by a country. To put it another way, economic growth is merely
one of the variables that contribute to economic development.

2. The phases of economic development are Malthusian, Government LED, A la Kuznets,

Human Capita Based, and Post demographic Transition. These developments help the
people in creating a systematic illustration that relays our progress efficiently and
effectively. Similarly, knowing what kind of specific growth our country is going through
is vital since it provides us an idea of what we can do to help further develop and
improve that element. It's also critical for us to understand what development our
country lacks in order to build an effective strategy for achieving and implementing that
component.

3-4. Human development index or HDI is one of the indicators of human development
which is also used in assessing the economic and social development of a country. These
are some of the business management decisions that, in my opinion, are heavily influenced
by a country's HDI.
• When choosing the place where people wanted to open their businesses, such
as investing in an urban community rather than the rural ones since it's much more
commercialized.
• When choosing what kind of business would they build just like building hospitals
or pharmacies since it's in-demand especially in our situation where we're still in
the fight against this global pandemic.
• When they make their business products' prices affordable because of the
economic status of the people.

WHAT I HAVE LEARNED

• The Philippine Gross Domestic Product (GDP) increased by 11.8 percent in the
second quarter of 2021, according to psa.gov.ph, while the Gross National
Income (GNl) increased by 6.6 percent. This is actually beneficial since we're
starting to make progress in the midst of the pandemic. For me, the best
approach to preserve and develop our economy today is to genuinely
implement a vaccination program for all Filipinos, ensuring everyone's safety.
After that, we can regulate a safe re-opening of the economy so that all
businesses may reopen and people can start going out again, but only under
certain conditions.

DAVID, CHARLENE JEN Q.| ABM-101

ORGANIZATION AND MANAGEMENT | QUARTER 1-WEEK 4 7

WHAT I CAN DO
• According to the data I gathered on the internet, primarily from singstat.gov.sg
and psa.gov.ph, Singapore's economy is considerably superior to that of the
Philippines in terms of several elements. Their GDP growth prediction for 2021 is 6.0
percent to 7.0 percent, compared to us who's only 4.5 percent. In addition,
Singapore has an enviably low unemployment rate of 2.90 percent, compared
to the 7.7 percent that we have. We, too, have high crime and tax rates, in
contrast to them. To summarize, the Philippines has severe difficulties that threaten
its competitiveness and standing in the region. The country has a somewhat high
taxation structure. Except for those in high-ranking positions, this primarily affects
the majority, whose jobs pay just enough to get by. Furthermore, the Philippines'
high crime rates reflect the country's high levels of poverty and unemployment. A
combination of these and other factors contribute to the country's low level of
human development, which is significantly lower than Singapore's.

DAVID, CHARLENE JEN Q.| ABM-101