Rather, the company used existing technology and a collaboration with the music industry to develop iTunes software, bringing an affordable application of the MP3 to the public. In each of these examples, improving upon a good idea was as important, if not more important, than the initial idea.
The third phase may cover potential regulatory incentives. Complementary to the policy issuances is our own research on the impact of natural disasters on the Philippine banking performance. Using existing regional data, we found that episodes of extreme weather conditions have negative impact on financial intermediation (deposits, loans, NPL, provision for NPL, profitability).