MANILA - Business tycoon Manuel V. Pangilinan today said third-ranked broadcaster TV5 should aspire to be most innovative among the companies he controls for it to break even in two to three years' time.
"TV5 needs most innovation and attention. Siyempre 'yung anak mo na may problema, you pay more attention to that child," Pangilinan, who chairs the broadcast network, said on the sidelines of the First Pacific Leadership Academy's Executive Series dubbed "The Business of Innovation: Transcending Business Through Innovation."
"I think TV5 is improving... slowly, and needs a lot of attention," he said.
As the network aspires to be in the black two to three years from now, TV5 should "produce better shows," Pangilinan said.
InterAksyon.com is the online news portal of TV5.
On the whole, Pangilinan said innovation is key for the Philippine economy to grow further.
"We have to shift away from consumer capitalism, commodity capitalism to intellectual capitalism. That's really the future; we have to use more of our brains. In that regard, innovation is key, and the ability to embrace change, take risks," he said.
Pangilinan noted that Filipinos in general are resistant to change.
"We as a people are so inert, so resistant to change. And we're not going to make progress if we don't put ourselves out of that kind of thinking," he said.
Pangilinan said he believes Filipinos have the brains and abilities to innovate.
"We do have the capability; we've shown it many times before. And if others can do it, why can't we?" he said.