Business model adopted by Filipino-Chinese associations in Iloilo City: Impact to the economic development of its members and of the locality

Abstract

This sequential mixed method study examined the business models of the Filipino-Chinese associations in Iloilo City and its impact on the economic development of the members and the locality. The primary data collection method for quantitative aspect of the research was survey while an in-depth interview was employed for the qualitative aspect. The results disclosed a stable Filipino-Chinese associations gauged from duration of operation and membership size. Their primary advocacy was legal, peace and order, security and disaster response. A Discovery-driven business model prevailed among the associations. The perceived impact of the business model implementation include financial assurance in the event of bankruptcy, social acceptance and elevated social and eventually improved quality of life. The perceived impact of business model implementation to the locality were implementation support of various projects/programs, assured social and health support services, and improved economic situation of the locality. The respondents claimed no specific business model of their association, hence adjustment made in response to internal and external environment could not be articulated. There are several challenges confronting the Filipino-Chinese associations in Iloilo City. These are losing interest of the younger generations to do business, hence no interest in joining the association. Threat of closure due to lower price of imported goods compared to locals. Changes in global technology resulted in choice of malls over the Chinese stores because of such amenities as mobile banking, air conditioning and completeness of goods. Seven factors were identified to contribute to the stability of the association. It was suggested that a thorough study on the impact of business model implementation on the members and of the locality be done.