The UDA will have its own Business Observatory

The Faculty of Administration Sciences of the University of Azuay created a permanent business observatory to analyze the situation of the different sectors of the local economy.

The observatory will focus on a sector analysis and an analysis of micro, small and medium enterprises.

In the same way, the business sector will be provided with local information that will help the companies with their future decision making, so that safe investments can be made aimed at the growth of the markets.  

The idea arose in July from 2017 and the first projects began to be worked on in September, determining the methodologies and evaluation instruments that will be used for each of the information gathering indicators.

The observatory was born with four projects: measurement of the determination of risks and performance; measurement of the value chain; measurement of the financial management and measurement of the social responsibility that each of the companies has from the different sectors at a local level.

So far different agreements and alliances have been made with the Chamber of Commerce of Cuenca and the Ecuadorian American Chamber of Commerce of Cuenca, as well as with the Internal Revenue Service (SRI), with the Superintendence of Companies, with the Ecuadorian Institute of Social Security (IESS) and with the Municipality of Cuenca.

"We believe that a synergy between institutions is of vital importance for the operation of the business observatory," commented Gabriela Duque, Project Director.

Teachers and students from all schools of the Faculty of Administration will participate in the observatory, teachers will do research work and students will complete their pre-professional practices.

The business observatory will operate in the House of Service to the Society of the University of Azuay.