Question

1.List down at least 3 Filipino entrepreneurs and examine their personal entrepreneurial competencies.

2. List down at least 3 competencies and explain how this competencies help them to success.

Answer 1

1. Socorro Ramos – National Book Store

Socorro Ramos entered the publishing and retail industry by working as a salesgirl at a bookstore. At the age of 19, she opened National Book Store in Escolta with her husband with a capital of P200, selling books and school supplies to students. At that time, Manila was under the control of the Japanese, who imposed censorship on books and periodicals. To augment their earnings, she and her husband resorted to selling other items like candles and soaps.

After the post-war boom proved profitable for the company, ushering in bigger revenues, the Ramoses opened a nine-story building along Avenida. At 95, she still believes in the time-honored tradition of “hands-on approach” in business. She even designed the company’s logo herself.

2. Tony Tan Caktiong – Jollibee

Tony Tan Caktiong used to operate an ice cream parlor, before converting it into a fast food restaurant called Jollibee. With a starting capital of P350,000, the young Caktiong opened two branches in Cubao and Quiapo, together with friends who supported his idea.

Caktiong decided to serve hamburgers, fried chicken, and spaghetti to customers when they started looking beyond the usual ice cream. Eventually, the business grew, and he had to hire more employees. By knowing the Filipino market, Jollibee managed to excel as a fast food powerhouse.

3. Edgar Sia – Mang Inasal

Hailing from Iloilo City, Edgar Sia dropped out of college to pursue his own laundry and photo-developing business at the age of 19. In 2003, 26-year old Sia decided to open the barbecue fast food restaurant Mang Inasal—Ilonggo for “Mr. Barbecue.” The first branch was built at a mall parking lot in his home city.

The restaurant took off. When Tony Caktiong heard about Sia’s burgeoning business, he decided to buy Mang Inasal for a total of P5 billion. Sia eventually put the sales of Mang Inasal to other investments like banking and healthcare. At 42, he’s considered the country’s youngest billionaire.

Read more: https://business.inquirer.net/273445/eight-successful-filipino-entrepreneurs-who-started-small#ixzz6c7fLUA4Q
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