Quantcast
Latest Stories

On investing in work and reputation

By

THE DOMINGO family at home

Trade Sec. Gregory L. Domingo has a ready smile, great for cheering investors that the Philippines wants to attract. Yet behind the positive outlook is the drive for results that has kept this foodie at work and away from the home kitchen for years.

Trade Secretary Gregory Domingo in 1994 with wife Weng and children Sophie, Chrissie, Migi and Bobby

“I haven’t cooked in maybe 30 years!” he quips when asked about his love for simple but hearty food. “When I did cook, beef ribs sinigang was one of my specialties.”

The country’s Trade chief says he prefers Filipino and Japanese cuisine but also likes Thai and Chinese food. Italian pasta will also do, but no chocolates, please. “I can survive on ramen everyday,” he says.

Domingo took the helm of the Department of Trade and Industry (DTI) on July 1, 2010. That brought him back to the agency where he had served as undersecretary for the Industry and Investments Group and as managing head for the Board of Investments from 2001 to 2004.

Within his first 100 days as Trade secretary, Domingo says the department automated its business name registration system. This reduced the time it takes to register a business name to 15 minutes from one day.

Aside from shoring up Philippine investments by promoting the country to business leaders locally and abroad, Domingo says DTI is also working with local governments to simplify business-related processes.

Secretary Domingo and family in a studio photo

As a result, both investments and the number of business prospecting missions have increased.

His management style, Domingo says, is to hire qualified and self-motivated people, communicate what needs to be done, describe the known constraints, and give them room to work. “I follow up once in a while, but if I’m always checking on someone’s work, that’s not a good sign—for the work and for the staff doing the work,” he says.

On weekends, the trade secretary does paperwork but sets aside Sunday morning for family time as much as possible. After Sunday morning mass, Domingo says, he likes to have lunch with his family, either at home or outside.

“Public service is so demanding that it is hard to find time for family activities, but for professionals who have had some success it is only right to give back a few years to the country through public service. It’s better to be part of the solution,” he says.

Domingo’s grandaughter Lucy

Right after completing his degree in Management Engineering at the Ateneo de Manila University, Domingo worked in the private sector, once working for an industry group and for accounting giant SGV.

He later graduated with distinction at the Asian Institute of Management (AIM) for his Master in Business Management and completed his diploma for Master of Science in Operations Research at the Wharton School at the University of Pennsylvania.

Domingo has worked for Chase Manhattan Bank (Manila), Chemical Bank (New York), and other financial institutions in Philadelphia, Pittsburgh, and New York including First Boston, Drexel Burnham Lambert, and Mellon Bank. He has also served as director to private companies, among them the SM Investments Corporation, BDO Private Bank, Belle Corporation, Pico de Loro Beach and Country Club, Pampanga Sugar Development Company, Carmelray-JTCI Corp., and power firm Meralco.

In all his years of moving up the ranks to president of a private firm and now as trade secretary, Domingo says he has never once asked for a raise or a promotion. At the same time, he says, he stays open to opportunities.

“My advice to young workers is to always put out your best work and don’t limit yourself. Once you take on a task, do your best even if it means working more than you’re paid for. Invest in your reputation because that will open better opportunities for you in the long term,” he says.

What of employers who take workers for granted?

“If after consistently doing your best, you feel underappreciated, then work somewhere else. Don’t waste time and energy staying in a job or a place where you are unhappy and reduced to constantly complaining.”

The best advice he has received?

“My professor in Wharton, Russel Ackoff, considered the father of operations research, once said in class that when you can’t solve a problem, you have to expand your view of it in order to find what variables you haven’t considered or haven’t been able to control. You have to view the problem at the right level.”

On wealth management, Domingo says it pays to diversify investments and if possible, invest some hard-earned funds in real estate.

“Long term, it’s better to invest, especially in high-growth areas, than keep all your funds in cash.”

Should he ever get tired of regular work, Domingo says he would find something relaxing to do, such as woodworking or farming.

“There’s always something to excel at and have fun doing,” he says. For now, he adds, it’s leading the parade for Philippine investments.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Department of Trade and Industry , food , Gregory Domingo , Investments , Management , People

  • http://pulse.yahoo.com/_HU2TR52QQ2NG34ZZM2EFJ333F4 Atty. MJ Cervantes-Cabalatunga

    “My advice to young workers is to always put out your best work and don’t limit yourself. Once you take on a task, do your best even if it means working more than you’re paid for. Invest in your reputation because that will open better opportunities for you in the long term,”

    “If after consistently doing your best, you feel underappreciated, then work somewhere else. Don’t waste time and energy staying in a job or a place where you are unhappy and reduced to constantly complaining.”

    THE BEST!  VERY TIMELY AND PRACTICAL!

  • efriend

    Another great gentleman in PNoy’s cabinet.  Great job Mr. Secretary!!!

  • Mang_Ando

    May your tribe increase. We need more of you in the government. Public service!!

    Should he ever get tired of regular work, Domingo says he would find something relaxing to do, such as woodworking or farming.

    Sapul! Ito rin gusto ko pag retire ko

  • http://twitter.com/SamalBahayKubo Samal Bahay-Kubo

    FDI
    The best advice he has received?“My professor in Wharton, Russel Ackoff, considered the father of operations research, once said in class that when you can’t solve a problem, you have to expand your view of it in order to find what variables you haven’t considered or haven’t been able to control. You have to view the problem at the right level.”



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Camilla’s brother dies of NYC head injury
  • Nepal officials go to Everest to try to end crisis
  • Escudero ready to defend self should name appear in Napoles’ list
  • Obama calls for peaceful end to island dispute
  • Russia not abiding by agreement on Ukraine—Obama
  • Sports

  • Promoters Dela Hoya, Arum in talks for Pacquiao-Alvarez—report
  • Benzema guides Madrid to 1-0 win over Bayern
  • Suns’ Goran Dragic win NBA’s Most Improved Player award
  • Heat go up 2-0, hold off Bobcats 101-97
  • Ronaldo shakes off injury fears to play Bayern
  • Lifestyle

  • Photos explore dynamics of youths’ sexual identity
  • 12th Philippine Food Expo set at the World Trade Center
  • No tourist draw, Malang the croc will remain wild
  • The best flavors of summer in one bite, and more
  • Homemade yogurt, bread blended with pizza, even ramen
  • Entertainment

  • Has Ai Ai fallen deeply with ‘sireno?’
  • Sony developing live-action Barbie comedy
  • California court won’t review Jackson doctor case
  • Return of ‘Ibong Adarna’
  • Practical Phytos plans his future
  • Business

  • Facebook profits triple as mobile soars
  • Insular Honors Sales Performers at Testimonial Rites
  • Apple increases stock buyback, will split stock
  • Cost-recovery provisions for affected gencos urged
  • This time, BIR goes after florists
  • Technology

  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  • Opinion

  • Editorial cartoon, April 24, 2014
  • Talking to Janet
  • Respite
  • Bucket list
  • JPII in 1981: walking a tightrope
  • Global Nation

  • PH-HK relations repaired, but families of victims still being courted
  • Filipinos in Middle East urged to get clearance before returning
  • PH seeks ‘clearer assurance’ from US
  • China and rivals sign naval pact to ease maritime tensions
  • What Went Before: Manila bus hostage crisis
  • Marketplace