A RELATIONSHIP like any form means a union of two parties to complement each other’s strengths and supplement each other’s weaknesses.  The objective obviously is to make each one better and stronger, giving more depth and growth to the character of each.  Well, that’s the idea and that happens when the partnership is appropriate and effective. 

As the saying goes, “No man is an island.”  Even people who choose to live in single blessedness do not necessarily function in complete independence but resort to some forms of association and organization to achieve fulfillment.

Whether on a personal or business level, such concept of partnership is applicable.  Notice how “outsourcing” became a popular practice with business establishments.  The trend may have been prodded by the crisis that will put pressure on maintaining operating and administrative costs at a minimum to achieve maximum profits.  By resorting to “outsourcing,” the company gets to focus on their core business, thus reaps better returns.  Nowadays, it’s no longer surprising to see taxation and accounting matters, payroll, information-technology services, sales and marketing supports, engineering designs, legal research, gaming services, data management, procurement, and sometimes even recruitment left to business-process outsourcing (BPO).

On one hand, you may think it is antilabor since companies would hire less or would probably force to retire some employees in exchange for an outsourced consultant.  On the other hand, it may be just a matter of getting BPO to grow so employment will still flow but just realigned.  This scenario is not far-fetched, especially because more and more aspects of the business are delegated to outsourcing and so such industry continues to grow. 

Today, the Philippines, as other Asian countries did, immediately caught up when outsourcing started to be utilized as a business strategy aimed at maximizing productivity levels at the least operating costs.  Our country is now seen as a top offshore BPO location given the low labor costs, solid telecommunications infrastructure and a regular steady stream of highly educated and English-speaking work force.  Outsourcing is definitely seen to thrive despite the tough challenges brought about by the global economic crisis.  In fact, it has even been forecasted that by 2010 this concept of partnership will result in revenues valued at over $10 billion with a total of at least 1 million realigned employees.   

In Finex, the principle of partnership or outsourcing has, likewise, been applied to carry out all of its advocacies and hence achieve the goals and objectives it intended for its members.  It has partnered with various local and international organizations to come up with events like conferences/symposia/roundtable discussions that foster quality training and education for the professional and personal development of a broader market reach of finance executives.  It also liaised with various finance institutions, companies and foundations for the funding or sponsorship of Finex’s different projects that brought great financial and social impact to the institute.  I can confidently say then that these partnerships have given Finex the identity and recognition as the leading resource for financial knowledge and expertise in finance.

We expect this practice of entering into strategic partnerships to continue and even expand to cover other sectors where Finex is very much involved with, like the cooperatives and small and medium enterprises, information and communications technology, business education, corporate governance and social involvement.   

So I urge everyone to abuse this new growth opportunity through “partnership” and not feel guilty thinking that you may possibly send some souls home jobless.  Remember that everyone’s expertise will always be demanded so they can simply shift work or industry dedicated to their aptitude. 

Bobby Borromeo is the 2009 Finex president and currently the president/chief executive officer of WorldEvents Inc. and Asian Center for Legal Excellence Inc.  For further comments, you can e-mail him at This e-mail address is being protected from spambots. You need JavaScript enabled to view it )

Free Enterprise is a rotating column of members of the Financial Executives Institute of the Philippines, appearing every Wednesday and Friday.