Answer Econ

ALFREDO M.
YAO, Zest-O
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.
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.
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.
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.
SOCORRO C. RAMOS, National Bookstore
“You have to adjust to the flow of business. If you’re not open to change,
your business can’t move on.”
The woman behind the largest chain of bookstores in the Philippines
chipped in to augment the family income even as a child. As fate would have it, she
later married the heir to a family business despite her family’s objections, and she
became very involved in running it. The business eventually experienced some
setback during the Japanese occupation in the Philippines, since books were
frowned upon as propaganda back then. But this did not cause Socorro Ramos to
ever give up.
Eventually, the business became what is now known as the country’s largest, most
popular source of fiction and non-fiction books, textbooks, and school and office
supplies.
From being a saleslady to becoming a multimillionaire, National Bookstore

HENRY SY, Shoe Mart (SM)
“Opportunity is where you find it, not where it finds you. Crisis and
weakness indicate one can look for opportunities. Transforming problems into
opportunities can bring good returns. Prosperity and growth come only to a business
that systematically exploits its potentials and systematically optimizes its
performances.”
These are few words from the daughter of the richest man in the Philippines,
as she shared the story of his father’s success. This man is none other than, Mr.
Henry Sy, a considered “Tai-Pan” who is the founder of SM group and chairman of
SM Prime Holdings – the largest retail chain in the country known as SM or Shoe
Mart, and also the owner of Banko De Oro – EPCI Bank and majority holder in
China Bank.
Because of Mr. Sy’s determination, discipline, optimism, thriftiness and his
perseverance to pursue their goals despite those tough times including the Asian
crisis and World War II; from just a reseller of sachet products, to a venture of
American shoes, to seller of accessories, apparels and leather goods, he is now the
owner of 33 SM malls - including the SM Mall of Asia which is considered the
fourth largest mall in the world – plus in addition to his bank, the recent acquisition
he made like Equitable PCI Bank.
It is indeed another rags-to-riches story.
JOHN GOKONGWEI JR., JG Holdings
Mr. Gokongwei was an exceptional and ideal Filipino. He exemplifies the traits
that should endow us: industrious, disciplined, indefatigable, creative, generous,
always hungry for knowledge, grateful and never forgetting his origins, and most of
all, a loving person to his family and his country,"
He sees positivity in every failure, mistakes, and bad thing he experiences and
looks forward to using the experience to improve. John who were the small boy
who used to sell soap and candles in a Cebu market. Today, he makes the world a
better place with his enterprise. He believes that every Filipinos can do the same.
Everyone has their chance to make it big in the entrepreneurial field. He said that
even the big players today started off small.
He offer quality products in a cheaper price to his target customers because he
knows that customers will give them benefits in availing the products and services.
He consider innovation to the product for him to gain more and loyal customers.
"But to be a truly great nation, we must also excel as entrepreneurs before the
world. We must create Filipino brands for the global market place." Gokongwei has
consistently emphasized in his speeches the need to aspire for the global market,
and to see trade liberalization not as an enemy, but as a challenge. "Through the
years, the market place has expanded between cities, countries, and continents. I
want to urge you all here to think bigger.
TONY TAN CAKTIONG, Jollibee
“We also had a goal: to take care of our customers and employees and to
enjoy what we’re doing. Once we did all these things, the profits would come.”
Tony came from humble beginnings before he rose up to the top.
Tony’s father was a cook at a Buddhist temple in Manila who was eventually able
to open his own Chinese restaurant through hard work. In 1975, Tony himself
ventured into the food business and started selling fries and fried chicken at
affordable prices.
His fast food outlets quickly became the country’s largest local fast food
chain, Jollibee. And after the brand’s success, Tony was able to build other
restaurant chains such as Greenwich Pizza, Chowking, Red Ribbon and DeliFrance.

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ALFREDO M.

From being a saleslady to becoming a multimillionaire, National Bookstore

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