Successful Filipino Entrepreneurs PDF

Objectives: 1. Identify the different Successful Filipino Entrepreneurs 2. Analyze the characteristics of a Successful Entrepreneur.  ASSESS WHAT YOU LEARNED Identify the successful entrepreneurs based on the given successful business. Match column A with column B. Write the le...

Objectives: 1. Identify the different Successful Filipino Entrepreneurs 2. Analyze the characteristics of a Successful Entrepreneur.  ASSESS WHAT YOU LEARNED Identify the successful entrepreneurs based on the given successful business. Match column A with column B. Write the letters only. Review: Explain Entrepreneurship can be defined as a field of business that seeks to understand how opportunities to create something new (e.g., new products or services, new markets, new production processes or raw materials, new ways of organizing existing technologies) arise and are discovered or created by specific persons, who then use various means to exploit or develop them, thus producing a wide range of effects. (Baron, Shane, & Reuber, 2008, MANNY V. PANGILINAN Manuel "Manny" Velez Pangilinan, (born July 14, 1946), also known by his initials MVP, is a Filipino businessman and sports patron. He is the managing director and CEO of First Pacific Company Limited, a Hong Kong- based investment management and holding company with operations in the Asia-Pacific region.  Pangilinan is also First Pacific's chief executive for the group's investments in the Philippines, such as Metro Pacific Investments Corporation, PLDT, and Philex Mining Corporation. He is chairman Emeritus of the Samahang Basketbol ng Pilipinas (SBP) and was its first president, having served two consecutive terms from 2007 to 2018. EARLY LIFE AND CAREER Pangilinan completed his primary and secondary education at San Beda College. He graduated cum laude from the Ateneo de Manila University with a Bachelor of Arts degree in Economics. Pangilinan won a competition sponsored by Procter & Gamble for a scholarship to the Wharton School of the University of Pennsylvania and graduated in 1968 with a Master of Business Administration degree. Pangilinan's first job was as the Executive Assistant to the President of the Philippine Investment Management Consultants, Inc. (PHINMA) where he served for six years. In 1976, Pangilinan relocated to Hong Kong as executive director at Bancom International, an investment bank, where he gained experience in international finance. He then went on to the American Express in Hong Kong as an investment banker In Hong Kong, Pangilinan co-founded First Pacific in 1981 with Liem Sioe Liong and his son, Anthoni Salim. Through First Pacific, Pangilinan returned to the Philippines after 22 years with a number of investments under Metro Pacific Investment Corporation (Metro Pacific). As chairman of Metro Pacific, Pangilinan contributed to nation building through major investments in power distribution and energy innovations (Meralco), urban water concession (Maynilad Water Services), tollways (Metro Pacific Tollways Corporation), upgrading hospitals and health services (Metro Pacific Investments Corporation). He is also Chairman of TV5 and Philex Mining Corporation.  In 1998, First Pacific acquired PLDT, the largest telecommunications firm in the Philippines. The company, which had once been troubled by debt and technological issues, improved under First Pacific's management to become the nation's leading provider of digital communications. Pangilinan is also a major patron of Philippine sports. He owns three PBA teams – TNT KaTropa, the Meralco Bolts and the NLEX Road Warriors. He founded the Samahang Basketbol ng Pilipinas (SBP), the national sport association for basketball in the Philippines. He served as the first president of SBP for two consecutive terms (2007 to 2016). He is currently the chairman emeritus of SBP. He was elected to the Central Board of FIBA in 2014. Moreover, his MVP Sports Foundation has supported other Philippine athletes, some of whom won gold medals in the 2018 Asian Games. INVOLVEMENT IN SPORTS Pangilinan is a sports patron who funds basketball due to coming from a basketball family. His mother is a fan of the San Beda Lions basketball team and is best friends with Caloy Loyzaga and his father plays the sport along with baseball and tennis. Pangilinan himself plays badminton. Through the MVP Foundation, Pangilinan also funds initiatives on badminton, boxing, CECILIO K. PEDRO Cecilio Kwok Pedro is an entrepreneur who made it to the top after his failure back in 1985. His principle is much grounded and to quote this man of humility, he once said, "We are competing against the giants. Without faith and without the intervention of the divine, it is really difficult to survive in this industry." The founder of Hapee toothpaste in the Philippines, making his company, Lamoiyan Corp., the country’s first homegrown toothpaste name. His Life Pedro, became one of the first Filipinos who became successful in the exporting industry. His Chinese surname, Kwok means "to give" is truly an exact description of this man. He started doing business at an early age, compared to other boys his age, Pedro tried and jumped into buying and selling ball pens in grade school even if the results were not good. A Chinese-Filipino descent, he graduated from Ateneo de Manila University and earned a degree in Business Management. He also received the Honorary Doctor of Philosophy in Technological Management from Technological University of the Philippines. He is married with one son, Joel, who is now also part of the said company. His son is a marketing graduate from De La Salle University. A Christian since birth, his values extends to people whom he helped fulfill their dreams. He chairs this foundation and established schools in Laguna, Nueva Ecija and Palawan and 13 community centers all over the country. He also supports an NGO – Kaisa Para sa Kaunlaran which helps produce a television show for children. The Lamoiyan Story In 1977, the company, Aluminum Container’s Inc. was established. It was the biggest supplier of aluminum toothpaste tubes of the two major companies, Colgate- Palmolive and Philippine Refining Company. This company was in the business for eight years. His first company, Aluminum Container Inc., sold aluminum toothpaste tubes to these foreign firms from 1978 to 1985. However, an unexpected experience happened in 1985, these companies which he had been supplying aluminum tubes for about 8 years switched into using plastic laminated tubes. So, not for long, Pedro had to close his factory. In 1987 he opened the Lamoiyan Corporation. The name “Lamoiyan” is the Cantonese name of Pedro’s paternal grandmother. She was the first Christian in their family and was a big influence to their clan. It was through her where he drew his values and principles applied in both one’s self and in business. From the Aluminum Company and the rest of his equipment, he initially thought of using these tubes for epoxy but the market was too small. Since he has been a supplier of tubes for toothpaste, he was forced to create his own brand. Pedro decided to try venturing into toothpaste making by getting some help from a Japanese company. He tied up with a Japanese company and started the said project for $20,000. And so the birth of Hapee toothpaste. Twenty years back, people never thought of locally produced toothpaste but now, it’s a dream come true. After so many years, Hapee soared to number 2 in many areas of the Philippines and a solid third in Mindanao. Mr. Pedro never stopped growing, he continuously thought of various ways to be known. He first decided to sell Hapee at half the price of Colgate and Close. Then, he divided the market into segments, specifically for children as well as low-income and rich families. He also introduced toothpaste in packs, bundles, sachets to give his customers more options. Now, Hapee toothpaste is being exported to the Middle East, Papua New Guinea, Russia , Vietnam , and Hong Kong. He is also planning to sell more of his products in China and Southeast Asia. He is hoping to make a name in China because 1.35 billion people are brushing their teeth. Also part of his future plan is to be able to export and to ship products to India, the second most populated country in the world, is also seriously being considered.  Eventually, his hard work came to be noticed; Filipinos started buying Hapee as their brand of toothpaste. It was only occupying small portion of the shelf and most of the time people hardly notice it. According to him, buying a shelf to promote your product was so expensive. The two giant brands were finally threatened because of the innovations the company was making. By 1996, Pedro said Hapee wrestled more than 15% of the market. Sales were going up, and Lamoiyan had enough funds to get celebrity endorsers. To further promote the said toothpaste, he got Lea Salonga as the endorser of  Pedro noted that they are unique because they were able to create tooth paste with different fruity flavors suited for kids such as strawberry, grape, pineapple and mango. He also ventured into products like Dazz dishwashing paste and liquids, Tenderly fabric enhancer, Fash detergent, Fresher feminine wash and Gumtech, a special gum-formula toothpaste. Now, Hapee toothpaste is being exported to the Middle East, Papua New Guinea, Russia , Vietnam , and Hong Kong. He is also planning to sell more of his products in China and Southeast Asia. He is hoping to make a name in China because 1.35 billion people are brushing their teeth. Also part of his future plan is to be able to export and to ship products to India, the second most populated country in the world, is also seriously being ALFREDO YAO Alfredo M. Yao (born November 23, 1943) is a Filipino businessman who founded the privately held Zest-O and the publicly listed Macay Holdings, Inc. (PSE: MACAY) and Philippine Business Bank (PSE: PBB). He served as the Special Envoy to China for Tourism and Cooperation in 2009. Of Chinese descent, he was born and educated in the Philippines.  When you hear the name Alfredo Yao and you’re of a certain age, you tend to only think of one thing and one thing alone: Zest-O. It’s the country’s largest juice brand, and can be found in almost every lunchbox of every kid that goes to school.  He’s one of the most resilient businessmen in the Philippines, and has built his legacy on hard work and perseverance, as well as showing tenacity for always finding better ways of doing things.  Here’s a short snippet of the Philippines’ Juice King, Alfredo Yao’s early success. Early years Alfredo M. Yao was born on November 23, 1943 to the simplest of families. The eldest among his siblings, he had to sacrifice a lot at an early age. He lost his father and became the family breadwinner at the age of 12. He started a printing business at age 17 with a Php 3,000 loan from what is today known as the Development Bank of the Philippines. He never got to finish school even though he wanted to, because he was already a full-fledged businessman by age 18. He’s gone through the ringer, so to speak: he’s been a street vendor and at times, slept on cardboard box on the sidewalks of the street. The birth of Zest-O Yao went from printing and packaging to the beverage industry in the unlikeliest of ways. He learned printing wrappers through a cousin who was then working for a printing press. This paved way for him to venture into the printing press business thus, the birth of Solemar Commercial Press named after his mother. In 1979, while on a business tour of Europe, he stumbled across a new way of packaging: Doypack, a sealed bag made of plastic and aluminum that’s designed to stand upright. Seeing its potential, he marketed it to local juice manufacturers, but no one showed interest. Not wanting to let something with this much potential go to waste, he started making his own juices in his kitchen and packaged it using the doypacks he got from Europe. He would soon corner the market on juice drinks, thanks to the convenience of his doypacks. CORAZON D. ONG The Woman Behind the Success of CDO Foodsphere Inc Unrelenting passion and the need for financial betterment, is what drove the young Corazon D. Ong to establish his business empire. With the right amount of knowledge, skills, and liking for what she does, Corazon rose from a simple homemaker to a very successful businesswoman. Let us look at how she managed to flip the tables around!  Corazon D. Ong, was a simple homemaker then; a good wife to his husband Jose who is a professor at the very prestigious Ateneo de Manila University, and a loving mother to his three kids – Jerome, Jason & Sharmaine. Aside from that, she is also a licensed dietician. So, what she did then, as part of her daily routine is to prepare food for the family. Being a dietician, she keeps in mind the significance of a balanced healthy meal to the body, so to make sure that her family will be getting the best meals, she prepares them herself. Little did she knew, that this hobby of her will be the root of their success. As mentioned, the production of food started out as a hobby. She prepares them tocino, longganisa, and other easy-to-make processed food. It was initially for the family only, but she noticed that many moms in their neighborhood also likes these products, she started to sell out. She saw the need of these moms to prepare a quick-fix yet healthy lunch for their kids, so to help them she started retailing small amounts of these products. It was highly praised, and Corazon received a lot of positive feedbacks. So, what she did was, borrow from a local bank a total amount of P60, 000 to put up an official business. It was in June 25, 1975 when she established CDO Food Products at the backyard of their humble home. The first product tIn 1981, Foodsphere Inc. was duly registered and CDO was retained as the flagship name of its food products. Innovations and modernizations followed to ran after the growing industry. The company was converted into a family corporation. Her whole family worked together to make the business more successful. However, tragedies cannot be avoided. It was in 1987 when a fire broke out in the company’s processing area, destroying most of their advanced processing equipments. It was one of the incidents that really challenged the faith and dedication of Corazon. But she stood above it, nevertheless. Two days after the fire, Corazon called her staff to plan about what they will be doing next. Because of that, CDO SOCORRO RAMOS Born without a silver spoon and education Socorro, born on 23 September 1923, grew up in Sta. Cruz (Laguna) with her five siblings. The family were of humble means. At five years old, Socorro helped her mother, Emilia, sell various merchandise — bananas, vinegar and wooden shoes — at the local wet market. Her father, Jose, died when they were still young, so her mother was left to support them. Socorro finished high school. And that’s because public education until high school was was free. She never started college and she didn’t receive any degree. When business at the wet market turned sour because they sold on credit and collection was difficult, they moved to Manila.  The story of National Bookstore (NBS), currently the biggest book chain and one of the most successful retail outlets in the Philippines, won’t be complete without telling the story of a soft- spoken lady. Socorro Cancio Ramos, fondly called Nanay, is the founding matriarch of NBS, literally and figuratively hand-in- hand with her husband, the late Jose Ramos. Her story would truly serve as an inspiration to budding Pinoy Entrepreneurs. Hard work and starting at the bottom Owning the biggest bookstore chain in the country did not start easy. To help her family, Socorro went through various jobs starting at a tender age of 12 — in a candy factory, a cigarette factory, a factory making shorts, and a restaurant as a waitress. When Socorro was approaching 18 years old in 1940, she began working as a salesgirl in a bookstore opened by her brother (Manuel Cancio) and his wife (Doña Juana Cancio), the Goodwill Bookstore in Escolta. The Goodwill Bookstore was located in the same building that housed the Panciteria Nacional. While others attributed this as the origin of the name “National Bookstore,” Socorro herself mentioned that the name is based on the brand of their cash register. A strong life and business partner As fate would have it, while Socorro was still working at Goodwill Bookstore, the brother of Juana (wife of Socorro’s brother, Manuel), Jose Ramos, was also working there. To make the long story short, they fell in love and, after going through rough patches, they eventually married in 1942. Socorro was later appointed as the manager of Goodwill Bookstore. With the management skills of Socorro, Manuel and Juana decided to sell the bookstore to Socorro and Jose. They renamed it the National Bookstore. Together, they built the National Bookstore to what it is today. Selling whatever opportunity provides The couple started selling textbooks and school supplies. However, strict book censorship under the Japanese during World War II forced the spouses to shift their products to soap, candies, and slippers. They acted like distributors, buying merchandise from wholesalers and selling to smaller retailers. They also dabbled in selling whiskey, just as the Americans were about to liberate the country. Starting from zero and rebuilding Entrepreneurs flourish not because there’s an absence of setbacks, but despite the presence of setbacks. Socorro and Jose had to rebuild their business after it was razed down during the heaving bombing of Manila by the returning Filipino-American forces against the Japanese army. They had to start from scratch, literally to rise from the ashes of the Second World War. With an undying determination to succeed, they reopened their bookstore in 1945, selling school supplies like textbooks, notebooks, pad paper and pencils. The bookstore flourished with little competition. Then in 1968, typhoon Gene wrecked their store and soaked all their merchandise. Yet again, they had to start from scratch, working even harder, sleeping only three hours a day. Learning from Experience We all learn from our experience. The entrepreneurial attitude of Socorro could readily be attributed to her experience when she was young, as early as 5 years old, through various jobs she handled, and ultimately her work at the bookstore. Socorro is credit-averse, most likely learned when her family’s wet market business failed due to the inability to collect from customers who bought on credit. Learning from the total loss caused by Typhoon Gene, they worked hard to raise enough funds to build a concrete, two-storey office building. The money used to buy the lot and construct the building came from savings, not from any Staying ahead of the curve Socorro started producing greetings cards in the 1950s. These greeting cards, featuring Filipino scenes and artwork, was an entirely new concept in the Philippines. National Bookstore solidified their hold of the greeting cards market when they secured the Philippine franchise of Hallmark cards. Also around the 1950s, National Bookstore was granted license by international publishers like McGraw Hill and Prentice Hall. National Bookstore, and Socorro Cancio Ramos, thereafter plowed on to more success. Socorro does not believe in luck. She was quoted as saying: “Whenever I want something I really work hard to get it. There’s no such thing as suwerte.” On another occasion, she said: “If you want something hard and you really work hard for it, you will get it.” That success may not come overnight. This year, 2012, Socorro celebrates her 90th birthday, while National Bookstore celebrates its 70th anniversary. One of the inspiring and successful Filipino entrepreneurs that should encourage new Pinoy Entrepreneurs to work hard for success. MARIANO QUE When Filipinos need medication, a couple of names usually come up: Generika, The Generics Pharmacy, Watsons, and the most well-known of them all, Mercury Drug. Mercury Drug has been synonymous with quality pharmaceuticals and it owes its success to one man who recently left us: its founder, the late Mariano Que. His company may not have been the first drugstore in the country, but his pioneering spirit behind the pharmaceutical retail industry paved the way for all the rest that followed. MARIANO QUE It all began with P100 and a bottle of Sulfiathiazole P100. That was all Mariano Que had in his pocket after World War II. An employee of a drugstore prior to the war, Que knew that Filipinos would need the “miracle” drug sulfathiazole, believed to cure many (if not all) sorts of diseases and illnesses. He saw an opportunity to help his countrymen by buying the bottle from a peddler in Bambang St. He then sold these tablets (which he knew was genuine sulfathiazole thanks to the ‘W’ on the tablets) per piece to make it more affordable. After making a profit, he was able purchase other medicines and a pushcart so he can sell his medicines to the public. Edgar "Injap" J. Sia  (born 1977) is a Filipino businessman. Sia is the chairman of DoubleDragon Properties (and co-owner with billionaire Tony Tan Caktiong), and the founder of the Mang Inasal fast food restaurant chain. In 2011, Sia become the youngest billionaire in the Philippines at the age of 34 after selling his 70% stake in Mang Inasal to Jollibee. EARLY LIFE AND CAREER  Sia was born in Iloilo City in 1977 and grew up in Roxas City, the eldest of three siblings having parents from both Capiz and Iloilo. He was nicknamed "Injap", a portmanteau of "Intsik" (the Filipino pejorative for a Chinese person) and "Japanese"; as his father, Edgar Sr., is half Chinese, while his mother, the former Pacita Jaruda, is half Japanese. Sia had planned to become an architect, but dropped out of the University of San Agustin to start a business career. Tony Tan Caktiong,  (born on January 5, 1953) is a Filipino billionaire businessman. He is the founder and chairman of Jollibee Foods Corporation, and the co-chairman of DoubleDragon Properties. From Ice Cream Parlor to Fast Food Empire: Tony Tan Caktiong’s Story  “From modest beginnings to the top of the world” are the words that succinctly sum up Tony Tan Caktiong’s story, today president and CEO of Jollibee® Foods Corporation, the biggest fast food restaurant chain in the Philippines. Tony Tan Caktiong, family who migrated from southeastern China to the Philippines in search of a better life, he became involved in the restaurant business from an early age when his father opened a restaurant. The restaurant became profitable with the help of all family members and this success enabled Mr. Caktiong to pursue a degree in chemical engineering in Manila. At the age of 22, inspired by a visit to an ice cream plant, he set out to gain his own foothold in the restaurant business: relying on family savings, he seized a franchising opportunity with Magnolia Dairy Ice Cream and opened two ice cream parlors. In response to customer requests, he added hot meals and sandwiches to the menu, which soon proved a lot more popular than ice cream. Three years later, in 1978, he decided to capitalize on this development, discontinued the Magnolia franchise and converted his parlors into fast food outlets. Lucio C. Tan, Sr.  (born on July 17, 1934) is a Filipino billionaire businessman and educator with interests in banking, airline, liquor, tobacco, real estate industries, and education. In 2013, Forbes magazine listed him as the second richest billionaire from the Philippines with a net worth of $7.5 billion. EARLY LIFE AND CAREER Tan was born in Amoy (now Xiamen), Fujian, China. His parents moved to the Cebu in the Philippines when he was a child. He was said to have gone to school on barefoot and first worked as a stevedore who tied cargo with ropes made from abaca. He earned a bachelor's degree in Chemical Engineering from the Far Eastern University in Manila. Forbes states that while in college, Tan "worked as a janitor at a tobacco factory" where he "mopped floors to pay for school.” Lucio C. Tan, Sr. Tan was the oldest of eight children. He studied chemical engineering at Far Eastern University in Manila. In one of his early jobs, he worked as a janitor in a cigarette factory before his promotion to tobacco “cook,” regulating the product mix. In 1966 Tan started his own tobacco company, Fortune Tobacco Corp. Tan and Ferdinand Marcos reportedly met in the early 1960s when Marcos was a senator, and their friendship strengthened. Henry Tan Chi Sieng Sy Sr.  October 15, 1924 – January 19, 2019) was a Filipino ( business magnate, investor, and EARLY LIFE AND CAREER Henry Sy was born in Xiamen (Amoy) in Fujian in the Republic of China, on October 15, 1924. At age 12, he and his family moved to the Philippines, where his father set up a shop that sold various household items. At his father's store, Sy helped his father sell rice, sardines and other merchandise. Following World War II, the store got obliterated along with the rest of Manila. His family decided to return to China, but Sy stayed in the Philippines where he completed his secondary education at an institution now known as the Chiang Kai Shek College and earned his Associate of Arts degree in commercial studies at Far Eastern University in 1950. While studying in school, he also learned how to speak in English and Filipino. Henry Tan Chi Sieng Sy Sr. EARLY LIFE AND CAREER Henry Sy was born in Xiamen (Amoy) in Fujian in the Republic of China, on October 15, 1924. At age 12, he and his family moved to the Philippines, where his father set up a shop that sold various household items. At his father's store, Sy helped his father sell rice, sardines and other merchandise. Following World War II, the store got obliterated along with the rest of Manila. His family decided to return to China, but Sy stayed in the Philippines where he completed his secondary education at an institution now known as the Chiang Kai Shek College and earned his Associate of Arts degree in commercial studies at Far Eastern University in 1950. While studying in school, he also learned how to speak in English and Filipino.  LET’S EXPLORE! 1. What do you think are common traits of an entrepreneur that made them successful?  Characteristics OF AN ENTREPRENEUR 1. Entrepreneurs are Reasonable RISK TAKERS. They enjoy challenges and carefully calculate the pros and cons of each step they take. 2. Entrepreneurs are CONFIDENT. They have strong faith in their abilities. They believe they can be best in their field. 3. Entrepreneurs are HARDWORKING. Successful people always attribute their success to hardwork. When people love their work, it is no longer work. It becomes a joy.  4. Entrepreneurs are LEADERS BY THE VERY NATURE OF THEIR FUNCTIONS.  5. Entrepreneurs are Decision Makers What are the important things I learned about entrepreneurship ?  LET’S EXPLORE! Is being a Chinese an advantage of being a success in business field? Why or Why not?  LET’S EXPLORE! If you will be planning a business, what market are you willing to invest? Explain your answer. What are the important things I learned