Assets, capabilities, and partnerships drive Globe’s growth

Globe Telecom is taking bold steps to transform itself from a traditional telco to a full-fledged tech enterprise, driven by the recognition that the telco industry is maturing and opportunities for growth are becoming limited. The company is leveraging its extensive assets, including a large customer base, data about customers, distribution capabilities, human capital, and strong partnerships, to build new businesses that solve human problems and create value for shareholders. The transformation is not a reaction to a decline in the traditional telco business but an anticipation of the industry's maturation.

One of the innovations that Globe has launched is GCash, which was born inside the company and solves the problem of financial inclusion for Filipinos. GCash has already attracted over 76 million users, demonstrating the potential for new businesses that meet human needs. According to Globe President and CEO Ernest Cu, the telecommunications industry has moved from voice to data and has become a lifestyle industry that is more than just connectivity. The pandemic has accelerated the adoption of digital technology, resulting in a shift towards solving more human problems, such as healthcare, education, and media.

Globe Telecom's transformation highlights the need for businesses to anticipate and prepare for changes in their industries, especially in industries that are evolving rapidly. The company's focus on solving human problems and improving the lives of Filipinos is a powerful example of how businesses can create value by meeting the needs of their customers. As the telecommunications industry continues to evolve, businesses like Globe Telecom that are well-positioned to meet the changing needs of their customers will be the ones that succeed.

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