APPLIED

ENTREPRENEURSHIP
 CHAPTER 1 :
THE MAKING OF AN ENTREPRENUER

CONTENT STANDARD

The learner demonstrates understanding of key concepts, underlying

principles, and core competencies in Entrepreneurship.

PERFORMANCE STANDARD
The learner independently creates/provides a quality and marketable product
and/or service in Entrepreneurship as prescribed in the TESDA Training Regulation.

SPECIFIC LEARNING COMPETENCIES:

1. Discuss the relevance of the course;

2. Explain the key concepts of common competencies;
3. Explain the core competencies in Entrepreneurship; and
4. Explore job opportunities for Entrepreneurship as a career.
 WEEK 2

LESSON 2: Successful Filipino Entrepreneurs

TRY THIS!

Let’s see how well you know these successful entrepreneurs!

Name the following Entrepreneurs based on the given illustrations.

________________

_______________

________________

________________

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 SUCCESSFUL FILIPINO ENTREPRENUERS WHO STARTED SMALL IN THE
PHILIPPINES

1. HENRY SY

Henry Tan Chi Sieng Sy Sr. 

(October 15, 1924 – January 19, 2019) was a Filipino business magnate, investor,
and philanthropist known for his involvement in the Philippines' retail industry.
Born in Fujian, he moved with his family to the Philippines at age 12. While his family
returned to China, he stayed behind and founded ShoeMart, a small Manila shoe
store, in 1958. Over the decades he developed ShoeMart into SM Investments, one
of the largest conglomerates in the Philippines, including 77 SM malls in the
Philippines and China, 62 department stores, 56 supermarkets and over 200 grocery
stores. SM also owns Banco de Oro, the second-largest bank in the Philippines, as
well as real estate holdings.
For eleven straight years until his death, Sy was named by Forbes as the richest
person in the Philippines. Upon his death on January 19, 2019, his estimated net
worth amounted to US$19 billion, making him the 53rd-richest person in the world.

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.
CAREER
In his twenties, Henry Sy became a store manager working for an American
business involved in the local shoe industry in the Philippines; he opened his first
sole-proprietorship store in Quiapo, Manila in 1948. He opened at least three shoe
stores in the Carriedo area which was then known for its heavy pedestrian traffic. His
decision to sell shoes was due to the losses his family experienced in World War II
thinking that everyone would need shoes following the aftermath of the war.
He sold surplus G.I. boots and saved finances before he established ShoeMart in
1958, his own small shoe store in Quiapo, that marked the beginning of SM
Prime. He later encountered difficulties in sourcing shoes locally and decided to
import shoes from outside the country.
Sy became involved in the banking industry when he acquired Acme Savings Bank
(later renamed Banco de Oro or BDO) in 1967.
In November 1972, he opened SM Quiapo, SM's first stand alone department store,
and entrusted his 22-year-old daughter Teresita to run the store. On November 8,
1985, he established his first SM Supermall, SM City North EDSA. In the early
1990s, SM started opening more shopping malls with the setting up of two malls in
Metro Manila and a solitary mall in Cebu City. SM Prime Holdings was incorporated
in 1994 and went public.
Sy was named "Richest Man of the Year" by the Makati Business Club in 1999 and
was conferred an Honorary Doctorate in Business Management by De La Salle
University in January of that year. He and his wife established the SM Foundation
Inc., which helps underprivileged youths, the disabled and the elderly. ] He
established business presence in Mainland China when the SM Group opened its
first shopping mall in his native Xiamen. Other malls were later set up in other parts
of Southern China.[3]
In August 2005, Sy's stake in the San Miguel Corporation, Southeast Asia's largest
food and beverage conglomerate, reached 11%. He sold that stake in October 2007
for $680 million.
Sy's holding company, SM Investments (also known as SM Group), has been
frequently named as one of the best managed companies in the Philippines. SM
Investments is the operator of Banco de Oro (BDO) and owner of Chinabank. In
2006, Sy bought the remaining 66% of Equitable PCI Bank, the Philippines' third
largest lender, and merged it into BDO the following year. The transaction turned
BDO into the second largest financial company in the country.
He was the Philippines' richest man, gaining $5 billion in 2010, amid the global
financial crisis. The huge gain was due to his holding company, SM Investments,
which has interests in BDO, inter alia. For 11 straight years until his death in
2019, Forbes ranked him as the richest person in the Philippines, with an estimated
net worth of US$19 billion in 2019.
In 2017, Sy stepped down as chairman of SM Investments Corporation and was
given the honorary title of Chairman Emeritus as recognition for being the founder of
the SM Group. Jose Sio succeeded Sy as chairman.

2. LUCIO TAN

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.”

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.

After Marcos, who had served seven years as president of the Philippines,

declared martial law in 1972, Tan served as the catalyst for what would become
three of the country’s largest businesses. When his Fortune Tobacco Corp. allegedly
received tax breaks, it was able to beat its rivals. In 1977 Tan acquired the insolvent
General Bank and Trust (later renamed Allied Banking Corp.) for a pittance, and
three years later he launched Asia Brewery, Inc., when Marcos rescinded a measure
prohibiting the establishment of new beer companies.

After the fall of Marcos in 1986, the administrations of Corazon Aquino (1986–92)

and Fidel Ramos (1992–98) tried to prove that Tan’s companies had been secretly
owned by Marcos and therefore should be confiscated.

In addition, it was alleged that Tan had not been duly assessed his fair share of
taxes on his holdings. In 1992, unbeknownst to the Aquino government, Tan secretly
financed the winning bid that secured the purchase of the newly privatized Philippine
Airlines, Inc. (PAL).
In 1995 he became chairman of the airline. As the owner of PAL and head of
Fortune Tobacco Corp. (which by 1996 commanded nearly 75 percent of the
Philippine market), and with an estimated net worth between $1 billion and $8 billion,
Tan was considered the richest man in the Philippines. He was virtually untouched
by an ongoing government probe into the legitimacy of his operations. Accused of
tax evasion and other unsavoury business practices that dated back to his
association with Marcos during the 1960s and ’70s, he avoided conviction when a
Philippine Supreme Court ruling found that the tax bureau had prosecuted the matter
in an improper manner. In 1996 he won ruling control of PAL, and the House of
Representatives approved a bill that favoured tax breaks for his beer and cigarette
concerns. In 2007 the Supreme Court upheld the decision that voided the state’s
orders of sequestration of Tan’s companies.
3. TONY TAN CAKTIONG

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.

Born in a poor 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.

Realizing that he needed a brand name and logo for his new business, Mr. Caktiong
and his family decided on using a smiling red bee. They chose a bee because of its
association with hard work, and because honey represents the sweet things in life.
The “jolly” prefix was intended to connote happiness and enjoyment. Jollibee
invested millions of pesos to register the “bee” trademark in the Philippines and other
key countries.

Helped by smart marketing and advertising strategies, the mark struck a chord with
the public: “From a rather crude, strange-looking bee that no bank dared to touch
back in 1978, Jollibee and his cheeky smile today have become synonymous with a
truly Filipino success story that is now a source of patriotic pride. It is estimated that
the Jollibee brand is now worth several billion pesos”, Mr. Caktiong points out.
“Trademarks increased a lot of value to our business”, he explains. “To the
consumer, they represent either trust in the company or trust in the brand…they will
remember that the brand connotes very tasty food and also the experience, the
ambiance, the service, and they are also proud to be a part of that brand”.

Today, Jollibee Foods Corporation uses 8 proprietary brands (including “Jollibee” for
their core fast food business, “Greenwich” for their pizza and pasta chain, and
“Chowking” for their oriental food outlets), owns many trademarks (including “Bee
Happy”, “Yumburger”, “Chickenjoy” and “Amazing Aloha”) and has registered all of
its logos, some of them in several countries.

4. EDGAR SIA II

Edgar "Injap" J. Sia II 

(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.

Edgar ‘Injap’ Sia II, the Philippines’ youngest billionaire, shares a glimpse of his
life, entrepreneurial insights, and dreams for the Filipinos

Edgar J. Sia II, who also goes by the moniker Injap (a portmanteau of “Intsik”
and “Japanese” since his father is half-Chinese while his mother is half-Japanese),
made waves in the local fast food industry in the mid-to-late 2000s with his
brainchild, Mang Inasal, which he started in 2003 in Iloilo City. The restaurant gained
popularity for its tender and tasty barbecued chicken paired with “unlimited” servings
of rice, a combination made more irresistible by its wallet-friendly price. Several
years later, Mang Inasal branches were cropping up in Visayas and Mindanao.
Soon, Luzon caught the chicken-and-unli-rice bug. By the decade’s end, there were
already more than a hundred Mang Inasal branches nationwide.

The homegrown fast food giant Jollibee Foods Corp. bought a 70% stake in
the owner and operator of Mang Inasal for P3 billion in late 2010. The following year,
Mr. Sia landed on Forbes magazine’s 2011 list of the 40 richest persons in the
Philippines. At 34, he was the youngest billionaire in the country.

Mr. Sia, who once dreamed of becoming an architect but dropped out of
college to pursue entrepreneurship, is now making a name for himself in another
industry, real estate, through a company he co-chairs, DoubleDragon Properties
Corp. Since going public in 2014, the firm has been aggressively putting up different
properties: community shopping centers called CityMall, commercial and office
towers, hotels under the Hotel101 and JinJiang Inn Philippines brands, Merrymart
grocery stores, and CentralHub industrial warehouses, among others. DoubleDragon
aims to build a total of 1.2 million square meters of commercial and office spaces by
2020.

5. 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.

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.

Mariano Que initially worked

as an employee of a
drugstore during the prewar
era but likemost typical
successful entrepreneurs,
Que found his opportunities
after the war and during the
advent of the American
occupation.

The destruction of the prewar

establishments left everyone
starting and rebuilding from
scratch, and those who had a wider perception of the people’s needs seemed to had
the greater advantage.

Mariano Que saw the demand for sulfa drugs, since most of the Philippine
pharmacies hardly had enough resources to go by. Using his prewar experience as a
drugstore employee, Mariano invested 100 pesos worth of sulfathiazole tablets and
peddled them in single doses so they could be affordable to the poverty-stricken
sector.

He rolled over his profits until he had enough money to build a wooden
pushcart. That way, he could peddle a wider assortment of pharmaceutical products.
Other peddlers imitated his marketing and selling strategy, but Que made a
difference. He had a reputation for selling only quality and unexpired medical
products, and soon enough he had a steady clientele.

By 1945, Mariano had saved enough resources, which enabled him to set up
his first store, aptly called Mercury Drug. The Roman god Mercury carried the
caduceus symbol, which was largely associated with the medical profession. Despite
the store’s establishment, Mariano invested in motorized vehicles in order to provide
drug delivery services to his valued customers.

He also expanded his store hours to 17 hours a day, 7 days a week, since he
recognized that the need for medication may come unexpectedly.
In 1952, the stores were open 24/7, which made the drugstore become a
valuable part of the community.
It all began in 1945 just after the liberation of Manila. Mariano Que, realizing the
need for medicines, started a very humble business venture with his hard earned
P100. He bought a bottle of "Sulfathiazole" and street-peddled this in the sidewalk of
Bambang, Sta. Cruz, Manila.

From pushcart selling and with his previous working experience in a drugstore
before the war, he eventually opened a drugstore on March 1, 1945. He named it
after "Mercury", in Roman mythology the messenger of gods, the god of commerce
and manual skill. Mercury’s winged feet symbolize speed and the caduceus he
carries the medical profession. These qualities sum up Mercury Drug’s quest of
delivering fresh and reliable medicines to the public through prompt service.
In 1945, Mercury Drug introduced a better way to make medicines more
affordable to more Filipinos: "Tingi-tingi" or by piece method of selling. From then on it
introduced many "firsts" in the Philippine drugstore: In 1948, its first motorized
customer delivery service; In 1952,the 17-hour, 7 days a week drugstore service; In
1963, the country’s first self-service drugstore; In 1965, the 24-hour, 7 days a week
service; In 1967, the first computerized temperature-controlled central warehouse: In
1969, the first drugstore chain to use.

6. 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 loan.

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.

7. 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 fami8ly. 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 Foodsphere Inc., was
again back on its feet to serve the Filipino peoplehey released was longganisa and
tocino among others.

Bouncing back from that, CDO became even more eager to expand their
products horizon. From then on, different innovations of products were continuously
being researched to satisfy the palates of the consumers especially Filipinos. From
Longanizas to tocino, hotdogs and many others, the company tried to develop more
and more products to cater the masses based on their consumption. In 2001, the
company introduced carne norte which suited the Filipino taste at a very reasonable
price and another innovation in the industry. CDO-Foodsphere has emerged as the
number one producer of carne norte in the land. She was also the brain behind the
San Marino Corned Tuna, which is now a hit in the market. CDO Foodsphere has
established its success based on the needs of the consumers. Ong’s core vision
came to reality that is to provide affordable food products to the most number of
Filipino households.

Looking back, who would have thought that a simple desire to give the best
meals to the family would became a very profitable and successful business? Yes,
CDO’s Corazon really proved that there is more to being a simple homemaker.
Because of her successes, he has received a lot of awards in her field of interest.
These are: Most Outstanding Nutritionist of the Year in 1996, Agora Awardee for the
Most Outstanding Medium-Scale Entrepreneur in 1997, Most Outstanding
Professional in the Field of Dietetics in 1999, Most Outstanding Woman in
Valenzuela in 2006, and Woman Entrepreneur Award in 2009. But above all these
achievements, her most satisfying award is the way he has brought up their children
8. 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.

The innovator

Yao has never been one to shy away from innovation. While his beverage company,
Zest-O Corporation, was slowly making waves in the juice market, he was already
looking at other potential investments. At 2008, he launched Zest Airways and
sought to compete with other low-cost carriers of the country.

He was met with stiff competition (Air Philippines and Cebu Pacific Air to name a
few), so he looked at a different way of flying people into the country. Thus, making
Zest Airways the first local carrier to fly tourists from China and Korea straight to
Philippine destinations, i.e. without dropping by NAIA.

Last 2016, Zest Airways was fully integrated with AirAsia as AirAsia Zest.

Alfredo Yao has gone a long way from his humble beginnings. He’s still at the helm
of Zest-O Group and Zest-O Corporation as its chairman but that didn’t stop him
from innovating and diversifying into other businesses.

Yao was also the Chairman of Macay Holdings, Inc., the parent company of ARC
Refreshments Corporation, which handles a couple of popular beverage brands
including RC Cola, and the founder and Chairman Emeritus of Philippine Business
Bank, a bank which focuses on small and medium enterprises (SMEs) and has over
139 branches as of 2016.

Some of the companies under the umbrella of the Yao Group of Companies were
Solmac Marketing, Inc., Harman Foods (Phils.), Inc., Amchem Marketing, Inc., Uni-
Ipel Industries, Inc., SMI Development, Inc., Summit Hotel and Resort Specialist,
Inc. (Former: Sol Marina Resort Boracay – Current: Movenpick Resort & Spa
Boracay). 

With his determination to make something out of nothing, he was able to achieve
beyond what he could ever imagine. One important life lesson for Alfredo Yao is
to just work hard and never lose hope.
 “Credibility is built, not given. Respect is earned, not bought” – Alfredo Yao

9. 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.
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 the “Hapee Toothpaste”.

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 considered.
Corporate Social Responsibility

A devout Christian, he’s very serious in giving opportunities to people with

disability. Lamoiyan gives opportunities for the hearing impaired by employing them,
as of now there are over 30 deaf-mute staff in his company, not only that, he also
provides them with free housing. Sign language is the only means of communication
between the hearing-impaired and hearing personnel, so he has also required his
managers to learn it.
To continuously extend his gratitude, as the chairman of the Deaf Evangelistic
Alliance Foundation, Inc. (DEAF), he also grants scholarship to at least 200 hearing-
impaired students through the said foundation.

Hearing all his accomplishments, he really applies his company’s motto to

himself and to his people, Lamoiyan's corporate motto is "To make a difference for
the glory of GOD". This is really a phenomenon both to Pedro and his company.

Awards and Recognitions

2004, Ernst & Young Socially Responsible Entrepreneur award

2001, Outstanding Filipino Retailer by the Philippine Retailers Association
1991, TOYM for Business Leadership in 1991
1991, Agora Award for Outstanding Achievement in Entrepreneurship

Affiliations
Owner and League Chairman, Hapee Team, Philippine Basketball League
Women's Philippine Basketball League (WPBL)
Chairman, Deaf Evangelistic Alliance Foundation Inc.
Chairman, Board of Elders, United Evangelical Church of the Philippines

10. 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[2]
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,[3] 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, golf and taekwondo.

LET’S EXPLORE!

1. What do you think are common traits of an entrepreneur that made them
successful?

___________________________________________________________________
___________________________________________________________________
__________________________________________________________

2. Based from the given successful entrepreneurs above, what is common to these
entrepreneurs? Is being a Chinese an advantage of being a success in business
field? Why or Why not?

___________________________________________________________________
___________________________________________________________________
__________________________________________________________

3. What risks did they take to continue these kinds of business?

___________________________________________________________________
___________________________________________________________________
__________________________________________________________
4. If you will be planning a business, what market are you willing to invest? Explain
your answer.

___________________________________________________________________
___________________________________________________________________
__________________________________________________________

5. In today’s economic situation, is it wise to put up a business?

___________________________________________________________________
___________________________________________________________________
_________________________________________________________
 APPLY WHAT YOU HAVE LEARNED

SELF TASK: Interview someone from your neighborhood who owns a business.
(example: sari-sari store). Make sure to have a proper documentation. The
interviewer may asks questions given in the table below and note down the answers.

QUESTIONS HIS/HER ANSWER

What business do you do?

Why did you start this business and not take up

a job in the company?

How did you come up with the business concepts?

Were you successful when you first started?

What did you find most difficult?

 ASSESS WHAT YOU LEARNED

Identify the successful entrepreneurs based on the given successful business. Match
column A with column B. Write the letters only .

SUCCESSFUL BUSINESS VENTURES SUCCESFUL ENTREPRENEURS

A. LAMOIYAN CORPORATION _____1. TONY TAN CAKTIONG

_____2. CECILIO K. PEDRO

B. CDO FOODSPHERE
_____3. LUCIO TAN
C. MANG-INASAL
_____4. CORAZON D. ONG
D. TALKNTXT/PLDT
_____5. MARIANO QUE
E. NATIONAL BOOKSTORE
_____6. HENRY SY
F. MERCURY DRUG STORE
_____7. MANNY V. PANGILINAN
G. PHILIPPINE AIRLINES
_____8. SOCORRO RAMOS
H. SM MALLS
_____9. ALFREDO YAO
I. ZESTO CORPORATION
_____10. EDGAR SIA II
J. JOLLIBEE CORPORATION

REFERENCES
Sources: National Bookstore website; Philippine Daily Inquirer, “Socorro Ramos, young
at 90”; Ernst & Young, “Entrepreneur Of The Year Philippines 2004
Winners”; Entrepreneur Philippines, “How Socorro Ramos reached the top
shelf“; Philippine Star, “The life & times of NBS Nanay Coring in kiddie book”; The
Outstanding Filipino Award, TOFIL Awardee for Business 2006

https://www.trixiebuarao.com/corazon-d-ong-the-woman-behind-the-success-of-cdo-
foodsphere-inc/

https://www.wikipedia .com
View full document