“Uncertainty is no longer the exception. It has become part of the environment in which businesses operate every day.”

This unwavering view, expressed by Reyes Tacandong & Co. Managing Partner Protacio “Cocoy” T. Tacandong at the opening of the Governance Forum on Wednesday, jolted me. It sent my brain reeling over the immense negative possibilities that lie ahead following the collapse of the Middle East ceasefire.

I must admit, this nosy parker was multitasking when Mr. Cocoy stated this. While my lion ears listened to the forum presentation, I was simultaneously reading the transcript crawler on my phone from the third day of the Vice President’s impeachment trial at the Senate.

Well, just to rationalize my multitasking: isn’t impeachment anchored on a question of good governance?

Now, come to think of it, we’re facing the second half of this tumultuous year with renewed uncertainty and a cartload of major challenges, especially with the return of hostilities between the United States (US)and Iran.

This development could trigger yet another global surge in petroleum prices. For business and economic leaders, it’s time to go back to the drawing board for a reassessment.

Yes, Virginia, it’s time to re-evaluate our thrusts and aspirations against the ever-changing, fragile geopolitical dynamics in the Middle East and the seemingly widening, fragmented political landscape on the domestic arena.

Looking at the business horizon against the backdrop of this changing geopolitical landscape, the ugly head of inflation and the volatility of the peso-dollar exchange rate will continue to taunt monetary authorities.

That’s right, Virginia, the red flag is up. The Asian Development Bank, in its latest revised economic outlook, forewarned that “persistent headwinds caused by the conflict require a careful policy balance between supporting growth and containing inflation.”

Food security is also a major contributor to our economic challenges. My favorite market guru, Jonathan Ravelas, believes there’s a possibility on the horizon that the foreign exchange rate and the price of rice per kilo will meet at a crossroads and sit at par—at ₱62.

The managing partner of RT&Co., one of the country’s leading professional services firms, acknowledged that economic shifts, geopolitical developments, technological disruption, changing customer expectations, and evolving regulations continue to reshape the business landscape.

I fully subscribe to Mr. Cocoy’s view that “while challenges may differ in form, they all require one thing from leaders: the ability to make sound decisions despite uncertainty.”

Yes, Virginia, uncertainty is a test of leadership.

This brought me back down pandemic memory lane, when the emergence of online shopping coincided with the birth of Drop & Go Cargo Padala—Victory Liner’s streamlined cargo delivery service offering next-day delivery.

Marivic del Pilar, a third-generation member of the Hernandez family, assumed the helm of Victory Liner at the height of the pandemic when travel was heavily restricted. To keep operations afloat, Ms. Marivic came up with the “padala service” that first catered to Northern Luzon, the bailiwick of Victory’s bus operations.

Online shopping continues to thrive. In fact, “add to cart” remains a favorite pastime for many of us, while Drop & Go widens its reach with operations expanding into the Cavite-Batangas-Laguna zone.

This speaks volumes about the adaptability and acumen of these companies' stewards.

As Mr. Cocoy puts it: “Organizations do not become stronger simply because conditions improve. They become stronger because they develop the leadership, discipline, and organizational capability to adapt, respond, and seize opportunities regardless of the circumstances.”

Well said.