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The Institute of Corporate Directors Philippines conferred Dr. Justo A. Ortiz as Honorary Fellow for his outstanding achievement in raising the bar of excellence in the country through innovation, technology, and financial inclusion. He is a leader with vision and purpose who embody the principles of corporate governance. The Honorary Fellow is the highest conferment that the Institute bestows. After a rigorous process, it is granted to distinguished personalities, in recognition of their significant contributions to good corporate governance advocacy. Since ICD was established in 1999, only five Honorary Fellows were recognized and inducted. These Honorary Fellows who have excelled professionally, contributed significantly to their industry and the country, upheld the highest standards of ethical behavior and pushed the governance reform agenda are Amb. Jose “Joey” L. Cuisia, Dr. Cesar G. Saldaña, BSP Gov. Amando M. Tetangco Jr., Mr. Antonino T. Aquino, and Mr. Jaime Augusto Zobel de Ayala. Today, we recognized the contributions of Dr. Justo A. Ortiz to good corporate governance and inducting him to join the illustrious roster of Honorary Fellows. Congratulations Dr. Ortiz! ICD looks forward to its stakeholders receiving your wise counsel and leadership promoting Digital Transformation, and global corporate governance best practices towards the Dream Philippines! Photos during the event:

Bangko Sentral Pilipinas (BSP) 1. Updated Manual of Regulations for Banks and Non-Bank Financial Institutions as of 31 December 2019 ➢ Circular no. 1143 ➢ April 12, 2022 ➢ https://www.bsp.gov.ph/Regulations/Issuances/2022/1143.pdf Insurance Commission (IC) 1. Transitional Financial Reporting Framework for Insurance and Professional Reinsurance Companies ➢ Circular Letter 2022-29 ➢ June 21, 2022 ➢ https://www.insurance.gov.ph/circular-letter-2022-29-transitional-financial-reporting- framework-for-insurance-and-professional-reinsurance-companies/ 2. Extension of Period for the Submission of the Annual Corporate Governance Report (ACGR) under Circular Letter no. 2020-72 ➢ Circular Letter 2022-28 ➢ June 16, 2022 ➢ https://www.insurance.gov.ph/circular-letter-2022-28-extension-of-period-for-the- submission-of-the-annual-corporate-governance-report-acgr-under-circular-letter-no- 2020-72/ 3. New Financial Reporting Framework (FRF) for MBAs ➢ Circular Letter 2022-24 ➢ May 19, 2022 ➢ https://www.insurance.gov.ph/circular-letter-2022-24-new-financial-reporting- framework-frf-for-mbas/ 4. Amendment to the Transitory Provisions Under Circular Letter No. 2020-100 on "Implementation Requirements for Circular Letter No. 2020-22 Valuation Standards for Health Maintenance Organizations (HMO) and Quarterly and Annual Reporting for HMOs" ➢ Circular Letter 2022-20 ➢ April 11, 2022 ➢ https://www.insurance.gov.ph/circular-letter-2022-20-amendment-to-the-transitory- provisions-under-circular-letter-no-2020-100-on-implementation-requirements-for- circular-letter-no-2020-22-valuation-standards-for-health-mai/

By Armand Cacacho, FICD Value chain is a subject that business model designers need to study thoroughly and decide which part of the value chain the business wants to be part of. Another important topic in the analysis of value chain is a term called “value chain coordination”. It is one of the types of value-creation models that are found across many industries; the other three being product excellence, product/service innovation, and customer intimacy. This article is about value chain only. After analyzing the entire value chain, businesses have to choose which part or parts of the value chain they would like to participate in. For example, a technology company may choose to license its technology to an established company and not be involved in production and distribution of the product. Or the company may choose to manufacture the product in-house and sell it to other companies as a component of products with that other company’s brand. The company may also choose to manufacture the product and sell it under the company’s own brand name. Each of these alternatives reflects a different choice of what part or parts of the value chain the business will be engaged in and entails different set of challenges. For example, Intel chose to manufacture its semiconductor microchips and sell them to computer system manufacturers such as Acer, Lenovo, HP, and Dell with its famous “Intel Inside” trademark. In this case, Intel decided to focus just on the design and production of the microchip instead of manufacturing and selling the entire computer system. As mentioned above, another important topic regarding value chain is the role of value chain coordination in the entire value chain. Value chain coordinators create value by coordinating the elements of the value chain. A value chain coordinator may decide to participate on major activities along the entire value chain or may decide to just focus on a narrow part of the chain. In the e-commerce industry, value chain coordinators are often marketplace platforms. They facilitate transactions or interactions among the users of the platforms. An important feature of marketplace platforms is that it allows direct value creation to participants in the value chain. For example, a seller (one platform participant) is able to sell to a buyer (another platform participant) thereby creating direct value. The platform itself facilitates value creation by coordinating activities, improving business processes and making them more efficient, or reducing search time and transaction costs. eBay, for example, is a marketplace platform that enables buyers and seller to trade with each other. It started as a platform for trading Beanie Babies and when the company went public, about 10% of its revenue still came from trading Beanie Babies. eBay grew into a global online trading platform in almost any product category. The users shoulder the burden and also benefit from direct value creation as eBay does not hold inventories nor sell products (only the sellers do). It only matches buyers and sellers and facilitates transactions between them. Another example of a marketplace platform is Airbnb for lodging, primarily homestays for vacation rentals, and tourism activities. Airbnb does not own any of the listed properties; it simply facilitates searches and transactions for lodging. Airbnb benefits from the platform by receiving commission from each booking. It is my hope that the discussions above provide you with a framework and examples that you can use to evaluate and decide what part or parts of the entire value chain you want your business to be part of and ensure that there’s alignment of those options with your company’s competencies. ____________________ 1 M.E. Porter, On Competition, Harvard Business School Press, 2008 2 “Beanie Babies” are stuffed animals, each lined with special metal threads and stuffed with plastic “beans”, which together, gives them a steady pose and a flexible feel. They were produced in limited series which made them scarce and were collected and exchanged by hobbyists. - From Haim Mendelson, Stanford Graduate School of Business, 2007 - 2015 ____________________ About the Author Armand Cacacho is an international management consultant who has served as a board member of both for-profit and non-profit organizations in the U.S.A. and in the Philippines. He has been on the Advisory Boards of technology startups in the U.S.A. and Australia. In addition, he was an entrepreneur for 17 years in California with successful exit and an executive of Fortune 200 global engineering companies for many years. He has lectured at the Asian Institute of Management (AIM) Executive Masters Program, California State University East Bay College of Business MBA Program, ASEAN Science Diplomats Lecture Series Program, U.S. federal agency lecture series program, and has been serving as Mentor to Stanford University engineering and management graduate students since 2015. He specialized in Business Strategy and Innovation at Stanford Graduate School of Business and completed additional postgraduate program in Disruptive Strategy and Innovation at Harvard Business School. A graduate of B.S. Civil Engineering at U.S.T. and licensed Professional Engineer in the U.S.A., he is a Fellow and Teaching Faculty member of the Institute of Corporate Directors PH, and a member of the National Association of Corporate Directors U.S.A., and Singapore Institute of Directors. He can be reached at armandcacacho@gmail.com. https://www.linkedin.com/in/armand-cacacho-a128a515/

Dear ICD Members, The Institute of Corporate Directors (ICD) Philippines is proud to announce that the Global Network of Director Institutes (GNDI) will be hosting its first virtual global conference in July 2022. The GNDI currently has 23 director institutes from various countries registered as member institutes, of which Institute of Corporate Directors (ICD) Philippines is a member. This global conference will celebrate the 10th anniversary of the GNDI and aims to bring together thought leaders and directors from these countries. As the conference will be representing so many countries and span 6 continents, the event will be hosted as a 24-hour virtual event on 13-14 July, where all time zones will be covered by a dynamic programme and international speakers within the 24-hour period. We will be sharing more information about the programme and the format over the next few weeks, but we hope that you will save the date in your calendars. The conference programme will assist directors worldwide to stay abreast of emerging corporate governance issues and will clearly demonstrate how the GNDI collaborates to strengthen the voice of directors in advocating for good corporate governance policies and practices. We will focus on the shared issues of interest to governance stakeholders around the world and demonstrate leading practices and programmes that enhance the capability of directors to drive sustainable performance for the benefit of shareholders, the economy and society. The Institute of Corporate Directors (ICD) Philippines has gained much benefit from participating as a member of the GNDI and we have seen how a global programme of reciprocity helps directors and their boards unlock access to director resources around the world. We look forward to seeing how the GNDI speakers will share perspectives on key issues facing directors and participants can look forward to about 16 keynote speakers, 9 panel discussions over 3 time zones with 3 professional hosts. All video content will immediately be available on demand to ensure that no content is missed over the 24-hour period. Registration for the conference will open on 6 May 2022 and in recognition of the GNDI’s 10th anniversary we are pleased to offer you complimentary registration. This invitation is exclusive to all ICD Members only. Not yet a Member? Click here to know more on how to become one. The 2022 GNDI conference is going to be a significant event in the global corporate governance and directorship landscape, and we encourage our members to participate. Yours in governance, Carlos Jose Gatmaitan Institute of Corporate Directors (ICD) Philippines Chief Executive Officer

BANGKO SENTRAL NG PILIPINAS (BSP) Subject: Amendments to Regulations on Information Technology Risk Management CIRCULAR NO. 1140 Series of 2022 https://www.bsp.gov.ph/Regulations/Issuances/2022/1140.pdf Subject: Regulatory Reporting Standards for Operators of Payment System (OPS) CIRCULAR NO. 1138 Series of 2022 https://www.bsp.gov.ph/Regulations/Issuances/2022/1138.pdf Subject: Amendments to Regulations on Outsourcing and IT Risk Management CIRCULAR NO. 1137 Series of 2022 https://www.bsp.gov.ph/Regulations/Issuances/2022/1137.pdf Subject: Amendments to the Regulations on Confirmation of the Election/Appointment of Directors/Trustees/Officers CIRCULAR NO. 1136 Series of 2022 https://www.bsp.gov.ph/Regulations/Issuances/2022/1136.pdf Subject: Anti-Money Laundering Council (AMLC) Advisory dated 16 March 2022 on the List of Uncooperative Covered Persons CIRCULAR LETTER NO. CL-2022-028 https://www.bsp.gov.ph/Regulations/Issuances/2022/CL-2022-028.pdf Subject: Anti-Money Laundering Council (AMLC) Resolution No. TF-50, Series of 2022 CIRCULAR LETTER NO. CL-2022-021 https://www.bsp.gov.ph/Regulations/Issuances/2022/CL-2022-021.pdf Subject: Anti-Money Laundering Council (AMLC) Advisory dated 1 March 2022 on the Updated List of Uncooperative Covered Persons CIRCULAR LETTER NO. CL-2022-022 https://www.bsp.gov.ph/Regulations/Issuances/2022/CL-2022-022.pdf Insurance Commission (IC) Subject: COMPLIANCE OF ADJUSTMENT COMPANIES TO THE ANTI-MONEY LAUNDERING AND COUNTER.TERRORISM FTNANCING (AML/CTF) QUESTIONNAIRE CIRCULAR LETTER NO 2022-02 (12 January 2022) https://www.insurance.gov.ph/wp-content/uploads/2022/01/CL2022_02.pdf

The Institute of Corporate Directors (ICD) is a not-for-profit organization founded in 1999 to promote the improvement of corporate governance standards in the country as well as professionalize the practice of corporate directorship. In furthering our advocacies, we believe that it is necessary to promote enhanced diversity on boards and in particular, gender diversity. In recognition to Women’s Month of March, we present this infographic using data from two different studies to generate awareness on the progress and the importance of gender diversity in the boardroom. Almost half of the Philippine Market is comprised of women, which makes hearing their views all the more important to be heard in board-level decision making. Although the figures of board room representation of women in the Philippines are by no means the lowest in the World, there is still a long way to go as women are still under represented in the board room. This under representation also means that the biggest benefits of board gender diversity are also yet to be seen. As the push for gender diversity continues, more benefits of having women on boards will be seen and soon having women on boards will become the norm rather than the exception. References: Deloitte, Women in the boardroom: A global perspective, 7th edition (February 2022) https://www2.deloitte.com/sg/en/pages/risk/articles/women-in-the-boardroom-global-perspective-seventh-edition.html International Finance Corporation (IFC), Board Gender Diversity in ASEAN (June 2019) https://www.ifc.org/wps/wcm/connect/topics_ext_content/ifc_external_corporate_site/ifc+cg/resources/guidelines_reviews+and+case+studies/board+gender+diversity+in+asean

The agreement essentially scraps tariff duties, about 90 percent, on the intra-regional trade of manufactured products, services and commodities and establishes common rules on intellectual property and e-commerce among the RCEP participants The clock is ticking away for the Philippines to ratify its participation in the Regional Comprehensive Economic Partnership, or RCEP. In a recent Management Association of the Philippines (MAP) general membership meeting, the merits of ratifying RCEP were explained quite thoroughly by very credible speakers, namely Trade Secretary Ramon Lopez, Agriculture Secretary William Dar, senior research fellow Dr. Ramonette Serafica of the Philippine Institute of Development Studies, the government’s think tank, and Arthur Tan, the CEO of the Ayala Group’s Integrated Micro-Electronics, the leading electronics manufacturer in our country. I walked away from the meeting quite convinced that the arguments in favor of RCEP were sound and should be a no-brainer that it makes sense for us to sign up. So, what’s the fuss? The MAP’s focus on RCEP was prompted by the Senate’s recent inability to sign on our participation in the largest trade agreement in our part of the world, representing one-third of global economic output and population before it adjourned last February for the election break. Apparently, in response to the intense anti-RCEP lobbying of several farming organizations, our good senators saw fit to defer approval in order to conserve their energies instead on their reelection campaign in the upcoming elections. After all, why risk alienating a few million voters with a potentially political hot potato that could spell the difference in their prospects in what seems to be a not too clear scenario evolving in the Senate race? With the never-ending shifts in political faction allegiances or posturings as an independent candidate, the rankings, inclusions and exclusions in the magic 12 have been shifting like sand every time a new survey comes out or proclamations of supposed presidential endorsements are touted. What is RCEP all about, and why do we need to be part of it? RCEP is a free trade agreement 10 years in the making between the 10-member ASEAN countries and its neighboring Asia Pacific economic giants China, Japan, South Korea, Australia and New Zealand. Notably, emerging economic powerhouse India and the United States are not part of RCEP. Perhaps, India because of the country’s significant agricultural sector (18 percent of GDP versus ours of 10 percent), and the US for its view of RCEP’s disregard for human rights and sustainability issues, but more likely for geo-economic-political positioning against China, which is viewed to be the country that could stand to benefit the most from RCEP. The agreement essentially scraps tariff duties, about 90 percent, on the intra-regional trade of manufactured products, services and commodities and establishes common rules on intellectual property and e-commerce among the RCEP participants. By 2030, RCEP’s impact is estimated at annual increases in global income of $230 billion, exports of $493 billion and employment of 2.6 million. The Philippines trade with the RCEP bloc is equivalent to 50 percent of our exports and 68 percent of our imports. This translates to being able to trade sans the tariffs and trade costs we would be faced with for our imports and higher factory gate prices for our exports we would be enjoying if we are part of RCEP. According to a study by Dr. Caesar Cororaton, senior research fellow of the Virginia Polytechnic and State University, the Philippines stands to gain by 2030 about $52 million in trade balances, lower poverty incidences by 5 percent, increase in overall welfare by $573 million, or for an overall increase of 0.874 percent in real GDP growth rate. The GDP growth may not look like a very significant number, but I believe this does not yet take into account the potential for new initiatives for the exports of higher value processed agricultural products, improvement in the global value supply chain, particularly of our electronics industry, and the enhanced market opportunities for the business processes and financial services sectors. The concerns, of course, of the agricultural sector are real, but the solutions lie elsewhere. As eloquently emphasized by Secretary Dar, the government will have to do the heavy lifting by providing far greater resources to the industry. Until next week… One big fight! *** For comments, email bing_matoto@yahoo.com. Published on April 5, 2022 10:00 PM via https://tribune.net.ph/index.php/2022/04/05/rcep-should-we-or-should-we-not/ By Bing Matoto

In celebration of Women’s Month, I had the privilege of speaking in a webinar organized by Women’s Business Council Philippines (WomenBizPH) and the Institute of Corporate Directors (ICD). As a current and past member of the boards of both organizations which support the advocacies close to my heart — women’s economic empowerment and corporate governance — the opportunity to speak on “Corporate Governance with a Gender Lens” could not have been more perfect. Allow me to share a few snippets from my talk. SEX VS GENDER Often times, the terms “sex” and “gender” have been used interchangeably. But it is important to understand that they are separate and distinct. Sex refers to biological differences between male and female. It is fixed, natural, unchanging, and consists of a male and female dichotomy. Gender, on the other hand, refers to the socially constructed roles, behaviors, norms, and attributes. So, are females brains wired differently? According to a book entitled The Female Brain by Louann Brizendine, most aspects of male and female brains are similar — IQ averages are the same, and both are capable of excellence at physical, artistic, and intellectual pursuits. It also mentions differences: women tend to have faster and better fine-motor skills, as well as faster and broader verbal skills; women and men may come to the same answer in problem-solving tests, although they use different brain circuitry to find solutions; women have more neurons in the part of the brain devoted to emotions and to detecting emotions in order. There are obvious differences between males and females observed in society and these are present from infancy through adulthood. Behaviors and school performance differences between men and women are strongly shaped by socialization at home, in school, in the workplace, and in media. Although 99% genetically alike, male and female brains have evolved and see the world through a unique lens. Gender cues such as “manly” and “ladylike” mold our abilities and behaviors, and most of the time, it is unconscious. #BREAKTHEBIAS — THE UNCONSCIOUS BIAS Insights from a book entitled, Invisible Women: Exposing Data Bias in a World Designed for Men by Caroline Criado-Perez uncovers how gender bias affects our everyday lives and examines different elements of the modern world that demonstrate the inconvenient consequence when “male” is the default form of humanity. Using “man” to represent all human beings is a subtle way of disregarding and alienating women — from policies, research, technology, transportation systems, product developments, and the media. It further points out that industries and society in general fail to consider women’s needs and create this “unintentional male bias” often masked as “gender-neutral.” WHAT DOES IT MEAN TO HAVE A GENDER LENS? Gender Lens is all about recognizing and accepting the difference between males and females. Moreover, it is about taking conscious, deliberate, intentional, and proactive approaches in crafting an organization’s corporate governance practices regardless of size, nature of business, operations, among others. So, why adopt a gender lens? Numbers matter: Women make up 50% of the local and global population, therefore accounting for half of potential consumers, suppliers, and talent pool. Women also drive up to 85% of consumer purchasing decisions, an important consideration in product development and formulation of marketing strategies. Diversity = Innovation: Applying a gendered and diverse perspective brings unique ideas and a broader range of backgrounds. Moreover, diverse groups collectively possess more information and will have a higher chance of making better decisions. Improved Company Culture: Companies with progressive policies provide a less stressful work environment and have lower employee turnover. THE 5 Cs OF GENDER LENS IN CORPORATE GOVERNANCE Driving diversity will not happen on its own. It needs concerted efforts to address cultural barriers that prevent women from attaining leadership roles. What do we need to do? Change: A mindset change is needed in order to accept that gender inequality exists and needs to be addressed. Commitment: Forward-thinking organizations are serious about diversity. Diverse boards are catalysts for equality and inclusion and are more likely to insist on fairness from pay to promotion. Culture: Diversity matters where all perspectives are regularly elicited and valued. Business leaders need to establish a more egalitarian culture — one that elevates different voices, integrates contrasting insights, and welcomes conversations about diversity. Clarity: The visible presence of business leaders can play a vital role to ensure that the positive shifts towards gender equality are not lost as organizations respond to the changes. Compliance: The board should set the tone “at the top.” This demonstrates the company’s commitment to integrity and legal compliance and sends a clear message to all levels of the organization. THE BUSINESS CASE FOR GENDER LENS The World Bank Group cites that a broad set of business benefits is associated with gender diversity in corporate governance. It helps firms improve performance, drive growth, manage risks, attract and retain investors, and weather financial crises. Other benefits include improved financial performance and shareholder value, increased customer and employee satisfaction, rising investor confidence, and greater market knowledge and reputation. More companies are recognizing the value of boards that feature a mix of well-qualified male and female directors representing a range of perspectives, experience, and background. Gender equality is a fundamental human right, and thus a gender lens in corporate governance is necessary in achieving a formidable, thriving, and sustainable world. The conversation about corporate governance with a gender lens and diversity is gathering speed. It is crucial to emphasize the role of gender equality and Diversity and Inclusion to drive innovation, business competitiveness and good corporate governance, as well as highlight the critical role of active and visible leadership. This article reflects the personal opinion of the author and does not reflect the official stand of the Management Association of the Philippines or MAP. Ma. Aurora “Boots” D. Geotina-Garcia is member of the MAP ESG Committee, and the MAP Diversity and Inclusion Committee. She is vice-chair of ICD, the founding chair and president of the Philippine Women’s Economic Network, and president of Mageo Consulting, Inc., a corporate finance advisory services firm. map@map.org.ph magg@mageo.net map.org.ph MAP Insights By Ma. Aurora D. Geotina-Garcia https://www.bworldonline.com/opinion/2022/04/04/440079/corporate-governance-with-a-gender-lens/

NOTICE & AGENDA, ANNUAL GENERAL MEMBERSHIP MEETING OF THE INSTITUTE OF CORPORATE DIRECTORS 22 June 2022, Wednesday, 2:00 PM to 4:00 PM NOTICE IS HEREBY GIVEN that the Annual General Membership Meeting of the Institute of Corporate Directors (ICD) will be held on, Wednesday, 22 June 2022, at 2:00PM via videoconference using Zoom platform and via onsite conference at Discovery Primea, Makati City. The Agenda items are as follows: 1. Invocation and National Anthem 2. Call to Order 3. Proof of Notice of Meeting & Certification of Quorum 4. Induction of Members 5. Approval of Minutes of the 10 June 2021 Annual General Membership Meeting 6. Message of the Chairman 7. Report of the Chief Executive Officer 8. Trustees’ Message 9. Report of the Approved Audited Financial Statements as of 31 December 2021 10. Appointment of External Auditor for Fiscal Year 2022 11. Ratification of all Acts and Resolutions of the Officers and Board of Trustees for the Annual Term 2020-2021 12. Ratification of the Amendments of the ICD By-Laws: 12.1 Section 1 of Article II: setting the annual meeting to the second Wednesday in the month of October of each year. 12.2 Section 2 of Article III: fixing the start of the term of office of trustees to begin 01 January of the calendar year following their election in the October AGMM. 12.3 Section 1 of Article IV: combining the offices of Chairman and President, providing for the office of Chief Executive Officer. 12.4 Sections 1 and 2 of Article V: describing the functions of the Chairman and President; providing for the duties and functions of the CEO. 13. Election of the Board of Trustees (announcement of results of Online Voting) 13.1 Resolution of Expression of Appreciation to the Outgoing Trustees 14. Open Forum 15. Closing Message from the Chairman Emeritus 16. Adjournment Election of Trustees Four seats on the Board of Trustees are up for election this year 2022 to fill up the vacancies in the Board. The official Notice of Nominations will be sent to members on 04 April 2022 and the nomination period will run from 04 April 2022 until 22 April 2022. The final list of nominees will be announced on 06 May 2022, and thereafter election and voting will follow. Similar to last year, voting shall be online. Instructions for the online elections will be emailed to Fellows in good standing on 06 May 2022. The names of duly elected trustees will be announced during the Annual General Membership Meeting. The Board of Trustees Organizational Meeting will immediately follow the adjournment of the Annual General Membership Meeting. Thank you and we look forward to your participation on 22 June 2022. Sincerely, Atty. Teodoro Kalaw IV Corporate Secretary

By Armand Cacacho, FICD The following article is an excerpt from a lecture that I delivered at Asian Institute of Management (AIM) on the subject of Business Continuity Management. The lecture was very relevant as we were in the middle of the Covid-19 pandemic when I was invited by the President of AIM to give this lecture. Every organization whether for profit or non-profit should have a business continuity program and plan. The Covid-19 pandemic caught the whole world by surprise. For those organizations that did not have a business continuity program, they struggled to keep their operations going while many others simply could not pivot and closed shop. This became a global business and economic problem that was created by the pandemic. In this article, I will define continuity, talk about the importance of continuity planning for organizations, the “whole community” approach, continuity program management, the key elements of a continuity program, and finally, the four phases of continuity. Continuity is the ability to provide uninterrupted services and support before, during, and after an incident that disrupts normal operations.1 Having a continuity plan will help your organization navigate its activities when an emergency happens such as the Covid-19 global pandemic. A continuity plan is part of a more comprehensive continuity program that all organizations should have in place. Whole Community Approach What does the chart above mean? The chart above shows the importance of the interconnected nature of continuity. This means that each person and organization serve as a crucial link in a chain of activities that enable the execution of an organization’s essential functions. Thus, if every part of a community has a good continuity program, then the whole community becomes more resilient. What are Essential Functions? Essential functions are organizational functions that are critical for the execution of a company’s operations. These are functions that are absolutely required for a company to do in order to execute its mission. If needed, business continuity planners can use activity system mapping techniques and essential functions can be used to identify supporting activities or tasks and resources. Continuity Program Management A comprehensive business continuity program helps prepare organizations and improve continuity plans. Depending on who is designated as the responsible business continuity manager in your organization, continuity programs are usually managed by Continuity Program Managers and supported and implemented through Continuity Planners and Working Groups. Working Groups can consist of representatives from each division e.g., IT, facilities, leadership, finance, HR, and logistics. These groups follow a program management framework to develop and maintain capabilities in order to carry out their tasks. Four Steps in Implementing Continuity Program Management 2 Continuity Program Elements 3 The following are the standard elements of a business continuity program. However, an organization may incorporate its own unique elements. 1) Program Management Plans, and Procedures A business continuity program helps prepare organizations and improves continuity plans. An organization’s continuity plan serves to document its strategies, policies, and procedures required to support its program. Business continuity planning is a process to document and ensure an organization’s capability to execute essential functions during emergencies. 2) Essential Functions As discussed above, essential functions are organizational functions that are critical for the execution of a company’s operations. 3) Orders of Succession This is a sequential listing of positions within the organization that identifies who is authorized to assume a leadership role if the incumbent is unable to perform his/her duties. 4) Delegation of Authority This should be done in writing as this serves as the legal authorization to act on behalf of management or other organization leaders to carry out specific tasks. 5) Communications and Information Systems The organization should have resilient communication and information systems that can be accessed from alternate locations other than the organization’s primary location. 6) Essential Records Management Essential records are those records that an organization needs in order to continue its operations during an emergency. 7) Alternate Locations These locations can be fixed, mobile, or transportable locations, other than the primary location, where leadership and business continuity personnel can operate in order to carry out essential functions after a continuity plan is activated. 8) Human Resources These are the personnel identified to perform essential functions during and after a continuity plan is activated. 9) Devolution This is an organization’s ability to transfer authority and responsibility from a primary operating facility and personnel to alternate locations and other designated personnel in order to carry out essential functions. 10) Reconstitution This is where an organization’s focus is on returning to normal operations. This process normally starts when an incident happens or soon after its conclusion. 11) Test, Training and Exercise These are activities designed to familiarize, build skills, and ensure that the continuity plan supports the continued execution of an organization’s essential functions. Four Phases of Business Continuity 4 1) Readiness & Preparedness Develop your organization’s continuity plan, review, and revise as necessary to incorporate continuous improvement. You need to conduct testing, training, and exercise activities to ensure that the plan is executed properly. 2) Activation This pertains to the activation of a continuity plan to enable continued execution of essential functions during an incident. The following items are really important during this phase: alert and notification systems, accountability of personnel, and relocating to alternate facility, if necessary. 3) Operations The organization implements the business continuity plan strategies to ensure that the essential functions are executed with minimal disruption. Staff members may operate from an alternate location and staff may have different assignments or schedules. 4) Reconstitution As mentioned above, this refers to returning to normal operations. It may involve returning to the original facility, staffing and schedules, or to a new facility. The discussions above are a simplified presentation of basic Business Continuity Management. There are certainly more topics around this subject that need to be addressed. It is my hope that I have given you some basic information that you can use to start your business continuity planning journey and hope that you realize the importance of continuity planning. By taking action now, you and your organization will be more prepared and resilient for the next emergency whatever it may be. _________________ References https://emilms.fema.gov/is_1300/groups/81.html https://emilms.fema.gov/is_1300/groups/81.html https://emilms.fema.gov/is_1300/groups/81.html https://emilms.fema.gov/is_1300/groups/81.html ___________________ About the Author Armand Cacacho, FICD is an international management consultant who has served as a board member of both for-profit and non-profit organizations in the U.S.A. and in the Philippines. He has been on the Advisory Boards of technology startups in the U.S.A. and Australia. In addition, he was an entrepreneur for 17 years in California with successful exit and an executive of Fortune 200 global engineering companies for many years. He has lectured at the Asian Institute of Management (AIM) Executive Masters Program, California State University East Bay College of Business MBA Program, ASEAN Science Diplomats Lecture Series Program, and has been serving as Mentor to Stanford University engineering and management graduate students since 2015. He specialized in Business Strategy and Innovation at Stanford Graduate School of Business and completed additional postgraduate program in Disruptive Strategy and Innovation at Harvard Business School. A graduate of B.S. Civil Engineering at U.S.T. and licensed Professional Engineer in the U.S.A., he is a Fellow and Teaching Faculty member of the Institute of Corporate Directors PH, and a member of the National Association of Corporate Directors U.S.A., and Singapore Institute of Directors. He can be reached at armandcacacho@gmail.com.

By: Ma. Aurora “Boots” D. Geotina-Garcia Business World / January 24, 2022 | 9:45 pm Corporations, especially publicly listed corporations (PLCs), are constantly on the lookout for individuals who can be invited or recruited to become Board members. With the push towards good corporate governance, there is no question that having competent individuals sitting as Board members, more so if they are independent and external directors, can bring valuable experience and provide value to a company through its different growth stages. One of the first questions an aspiring or even current director may ask, “How can I claim a seat in the B-Suite of a company?”... Read the full article on Business World. Ma. Aurora “Boots” D. Geotina-Garcia is the founding chair and president of the Philippine Women’s Economic Network (PhilWEN). She is also the Vice Chairperson of the Institute of Corporate Directors.

By: Ma. Aurora “Boots” D. Geotina-Garcia - @inquirerdotnet Philippine Daily Inquirer / 05:02 AM January 08, 2022 Read the full article on the Philippine Daily Inquirer. Ma. Aurora “Boots” D. Geotina-Garcia is the founding chair and president of the Philippine Women’s Economic Network (PhilWEN). She is also the Vice Chairperson of the Institute of Corporate Directors.