MODULE 6 QUALITIES OF FILIPINO ENTREPRENEUR

Learning Objectives

At the end of the course, students should be able to:

1. Enumerate the qualities of Filipino entrepreneur.

2. Discuss the qualities that makes successful entrepreneur.
3. Discuss the challenges to a Filipino entrepreneur.

Introduction

The entrepreneur are individuals who are alert to profitable opportunities for
exchange of goods or services. A street vendor in Tutuban and Divisoria takes the
opportunity to make profit by selling school supplies during the opening of classes. During
Christmas season, they take the opportunity of selling Christmas items while in other
occasions sell clothing apparels and accessories. This were made possible because of
the unique qualities Filipino entrepreneurs possess.

The making of Filipino entrepreneur is a process of trial and error. The colonization
of the Filipino for more than 300 years is a great factor in the slow development of
entrepreneurial activity in the country. They also have a great influence on the values and
qualities of the Filipino entrepreneurs.

The success of Filipino entrepreneur stands in a shallow foundation. Most Filipino

business starts on a copycat syndrome. For example, Juan will start a sari-sari store and
here comes Pedro seeing the progress of the business of Juan, opens a store opposite
the corner. These is a scenery in most Philippine business condition.

The Foundation of National Bookstore

The making of National Bookstore is not a myth of fortune and honey. The founder,
Socorro Ramos, came from a poor family that sustained a living from selling various items
to support their basic needs. She was working student while in high school but because
of her persistence and perseverance she graduated with honors. Being a working student
was not a hindrance to her education as she painstakingly combined studies with hard
work.

After high school she worked as sales clerk in Goodwill Bookstore owned by her
brother where she leaned the rudiments of book business. Learning the hard way is not
an easy task and starting a business empire of national magnitude with more than 30

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branches all throughout the country was a product of entrepreneurial acumen coupled
with determination and hard work.

The SM Story

Henry Sy came from an impoverished family in Jinjiang, a town near Xiamen,

China. The entire family left China in 1936 to help the family patriarch manage a thriving
convenience store in Manila.

Unfortunately for the family, their store was burned down during World War II.
However, business-minded Henry saw an opportunity selling used military combat boots
and other postwar goods from supportive American soldiers!

His success led to the opening of his first shoe store, the SM in Avenida, Manila.
Henry had problems finding shoe manufacturers who could design shoes according to
what he had in mind, but he persisted. He spoke to customers and built his own network
of suppliers and manufacturers.

That never-say-die attitude got Henry Sy to where he is now: one of the richest
men in the world and a world-class commercial center developer who provides
opportunities to both entrepreneurs and the working class!

The Making of Jollibee

If you thought you only loved The Champ and Chicken Joy, then be prepared to
be inspired by the man behind the franchise.

Also coming from an immigrant family from China, Tony learned the value of hard
work and dedication from his father who worked as a cook in a Buddhist temple. Tony’s
father started a Chinese restaurant in Manila with his savings so he can send him to
college.

In 1975, Tony bought a Magnolia ice cream parlor. However, it was not
generating enough business. After talking with his customers and people within the
neighborhood, Tony decided to include sandwiches, fried chicken, and French fries in
the menu. In time, the restaurant found itself packed to overflowing capacity.

By 1978, Tony had opened six more restaurants, but the main item was no
longer ice cream. Tony then decided to adapt the McDonald’s concept and named his
franchise after his work ethic of being as “busy as a bee.”

Today Jollibee has grown to more than 2,500 stores in the Philippines plus
locations in the US, China, Saudi Arabia, Vietnam, Singapore, and Brunei.

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 The success stories presented showcase the different qualities of the
entrepreneurs which lead them to success.

Qualities of the Filipino Entrepreneur

The Development Bank of the Philippines defines the qualities of an entrepreneur:
1. Self-reliant. An entrepreneur counts mainly on his own efforts, and succeeds
mainly by doing a good job. He relies principally on his own merit and work. His
self-reliance is founded on hard work.

2. Risk-taker. He rises to a challenge and transfers problems into opportunities. His

daring is build on his competence which is marked by openness to new ideas, new
skills and new developments. Despite his setbacks and mistakes, he is willing to
start all over again.

3. Industrious. He has a strong sense of pride in the workmanship of his product.

He is quality conscious in all the components of his business. He is also precise
in counting costs and in ensuring the value of money for his product or service.

4. Humble. The true entrepreneur has the humility and single-mindedness of

purpose. Where there is a chance to earn, no matter how slowly the task, he is at
work patiently, unmindful of his social status. To him rolling up his sleeves, getting
his hands dirty is nothing to be ashamed of. Patience is his badge of security.
Humility is the quality that enables him to build a business from resources or
opportunities, simple needs and humble beginnings.

5. Helpful. He learns how to work with others from different fields, conscious that
with their help, effectiveness can be multiplies. He thinks of others, especially
those working for him and of the opportunities for advancement he can provide for
them. Through appropriate words and works, he shows that he truly cares for their
personal welfare and development.

6. Creative. He has a sense of perseverance and a spirit of initiative. Never satisfied

with things as they are, he continues to improve, trying new and better ways of
doing things. And when difficulties, frustrations and failure come, he is never
discouraged. Often out of these, come something new—another success, another
problem solved, another opportunity opened, another “first”.

7. Happy. The joy of this entrepreneur lies in the satisfaction of a customer, whom
he puts first over everybody else. He therefore attends to the i needs of his

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 customer with dispatch, efficiency, and graciousness. A service-oriented person,
he is a happy man for he has discovered that the joy of giving is its own reward.

The Challenges to Entrepreneur

The new generation of young entrepreneurs should look up on high standard of

values and character of entrepreneurs who got up the ladder of success. Success in
entrepreneurial activity is based on the inner compulsion to achieve the undetermined
difficulties. The values of JUAN TAMAD has no place in the world of entrepreneurial
vocabulary. The following are the challenges for the future generation of entrepreneurs:

1. The new entrepreneur must be a doer and willing to work hard and long until
he achieve the task he wanted for himself.

He must possess the versatility for success and self confidence that he
could overcome risk with his strong determination. The exploration of the total business
environment must be put into total perspective as it interplay with the development of new
opportunities and the risk attached to it.

2. Personal attention and comprehensive awareness for the progress of the

business is not trusted on other people.

The entrepreneur must be in direct control of operation and not in indirect control.
He must be able to measure the desired results. He must personally verify the data and
financial figures that were spent and earned in the operation of the business.

3. The new entrepreneur must have a high sense of integrity that he stands firm
on his principles and ideals.

His word of wisdom is a contract to depend on. He looks at things in different

perspective and approaches things with varied alternatives to attain what he wants. In
short, hi is a visionary, innovative and would not stop until he achieve the goals he set for
himself.

4. Emotional stability is an important factor in the making of an entrepreneur.

While he is impatient for the mediocre performance and lazy bones, his temper
must remain in control. Interpersonal relationships must be the banner in negotiations
and effective communication is the key factor in closing business deals.

5. The built in self-starting mechanism that drive entrepreneur to success is his

executive ability to manage people resources. This executive ability refers to how he

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plans, organizes, directs and controls the physical and material resources under his
disposal. Many entrepreneurs were describe to have shrewd judgment in character that
induced them to see things the way it should be. He has passion for excellence.

The new entrepreneurs and those who believe in their capacity for long hour of
work to get things done, spend 75 percent in dreaming innovation and putting them into
action. Dreams are built around creativity as he conceived original idea out of his
imagination.

The entrepreneurs like a multi-awarded artist with a handful of trophy of

accomplishment equipped with inner drive in transforming idea into tangible reality.
Sacrifice for long working hours and abandonment of personal life pleasures make the
entrepreneur achieve their target goals. They organize and develop their idea into
achievable activities and surpass the factor of risk.

Activity Number 1

Prepare a short report about your qualities which you think can contribute to your
success as a future entrepreneur.

Rubrics for the activity

96-100 91-95 86-90 81-85
Well- Well-organized Well-organized Well-organized
organized thoughts and thoughts and thoughts and
thoughts and ideas are ideas are fairly ideas are not
ideas are very satisfactorily evident evident
satisfactorily evident
evident
Grammar and Grammar and Grammar and Grammar and
format are very format are format are fairly format are not
highly highly observed observed
observed observed

Note: Output should be submitted via fb messenger one week after this session.

SAQ.
1. Explain the seven (7) qualities of a Filipino entrepreneur.
2. Enumerate the different challenges a new generation entrepreneur will have to
face and manage.

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 Rubrics for SAQ
96-100 91-95 86-90 81-85
Well- Well-organized Well-organized Well-organized
organized thoughts and thoughts and thoughts and
thoughts and ideas are ideas are fairly ideas are not
ideas are very satisfactorily evident evident
satisfactorily evident
evident
Grammar and Grammar and Grammar and Grammar and
format are very format are format are fairly format are not
highly highly observed observed
observed observed

References

Medina, Roberto G. (2014) Entrepreneurship and Small Business Management

Third Edition. Manila Philippines, Rex Bookstore

Pereda, Pedrito R et.al (2012) Entrep Pinoy Introduction to Entreprenuership.

Intramuros Manila, Pureflybooks Trading and Publishing Corp.

https://tycoon.ph/top-10-successful-entrepreneurs-philippines-story/

Prepared by:

NERY T VIVAS, DBA CAR

Associate Professor I

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