Podcast
Questions and Answers
What business did Henry Sy Sr. start in 1958?
What business did Henry Sy Sr. start in 1958?
- A shoe store (correct)
- A food chain
- A toothpaste manufacturing company
- A network of shopping malls
What was Henry Sy Sr.'s strategy for success?
What was Henry Sy Sr.'s strategy for success?
- Creating a brand focused on exclusivity and luxury
- Offering low prices and fast service
- Focusing on online sales and marketing
- Understanding customer needs and adapting his business to meet them (correct)
What is a key difference between Jollibee and McDonalds?
What is a key difference between Jollibee and McDonalds?
- Jollibee has a more environmentally-conscious approach to its packaging.
- Jollibee has a longer history than McDonalds.
- Jollibee serves Western-style food while McDonalds serves Asian-inspired dishes.
- Jollibee focuses on a sweeter flavor profile for its food. (correct)
What was Tony Tan Caktiong's vision for Jollibee?
What was Tony Tan Caktiong's vision for Jollibee?
What environmental concern did Cecilio K. Pedro address in his business?
What environmental concern did Cecilio K. Pedro address in his business?
Which of these entrepreneurs created a business known for its unique flavor profile?
Which of these entrepreneurs created a business known for its unique flavor profile?
Which entrepreneur was challenged by people who doubted his success?
Which entrepreneur was challenged by people who doubted his success?
Which of these entrepreneurs emphasizes the role of hard work and good timing in achieving success?
Which of these entrepreneurs emphasizes the role of hard work and good timing in achieving success?
What is a common element in the success stories of these entrepreneurs?
What is a common element in the success stories of these entrepreneurs?
Which entrepreneur is associated with a business that provides free housing for deaf-mute staff?
Which entrepreneur is associated with a business that provides free housing for deaf-mute staff?
Flashcards
Shi ZhiCheng
Shi ZhiCheng
Founder of SM, the largest retailing company in the Philippines.
SM
SM
A network of large shopping malls in the Philippines and Asia.
Henry Sy, Sr.
Henry Sy, Sr.
Entrepreneur who emphasized hard work and timing for success.
Tony Tan Caktiong
Tony Tan Caktiong
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Jollibee
Jollibee
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Cecilio K. Pedro
Cecilio K. Pedro
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HAPPEE
HAPPEE
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Environmental concerns
Environmental concerns
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Free housing for staff
Free housing for staff
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Challenges of entrepreneurship
Challenges of entrepreneurship
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Study Notes
Success Stories of Filipino Entrepreneurs
- SM Supermalls: Founded by Shi Zhi Cheng in 1958. It's the largest retail company in the Philippines.
- Problem: Finding a local shoe manufacturer willing to cooperate with ideas on what shoes to sell.
- Solution: Studied the growing needs of the Philippine market and gathered feedback from customers, employees, and suppliers. Also pursued a college degree at Far Eastern University.
- Achievements: A network of 44 large-scale shopping malls in the Philippines and throughout Asia. Claimed to be among the top three shopping centers globally. Includes various locations like SM City North EDSA and Mall of Asia.
- Henry Sy, Sr. Quote: "There is no overnight success or easy money. Success is a combination of hard work, good credit standing, opportunity, readiness, and timing."
Jollibee
- Founder and Chairman: Tony Tan Caktiong.
- Description: One of the world's fastest-growing Asian restaurant chains.
Lamoiyan Corporation
- Founder and Chairman: Cecilio K. Pedro.
- Focus: Aluminium containers.
Other Filipino Businesses
- Happee: Locally made toothpaste.
- Kutitap: Affordable toothpaste. Has different packaging options, including those designed for children.
- Mercury Drugstore: Founded by Mariano Que, over 76 years old.
- CDO Foodsphere, Inc.: Founded by Corazon D. Ong.
- National Book Store: Founded by Socorro C. Ramos. It's the largest chain of bookstores in the Philippines.
- Zest-O Corporation: Founded by Alfredo Yao. Offers drinks and other products aimed at quality and consumer value.
- Zest Air: An airline company.
General Observations
- Challenges common to many entrepreneurs: Problems addressed included finding a suitable manufacturer and adapting to market demands.
- Success factors: Importance of hard work, market analysis, feedback, and seizing opportunities. Some companies emphasized community care and employee well-being.
- Quote from Tony Tan Caktiong: "Twenty-seven years ago we didn't have a firm vision, but we had a rough vision that we would go outside the Philippines. We also had a goal to take care of our customer and employees and to enjoy what we're doing. Once we did all these things, the profits would come."
- Quote from Cecilio K. Pedro: "Fighting multinationals was very tough...True enough, it's by the grace of God that I'm still here. God is Good".
- Quote from Socorro Ramos: "You have to adjust to the flow of business… if you're not open to change, your business can't move on."
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