Module 2

Cynthia F. Panoy

BSHM 3-1

Learning Activity

A. List down 5 Filipino entrepreneurs and find out what motivates them to enter into business.

 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.
 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.
 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.
 Cresida Tueres – Greenwich Pizza
In 1971, Cresida Tueres started Greenwich as a small over-the-counter pizza store in Greenhills.
Tueres had a knack for cooking. Her friends loved the food she served so much that they
decided to buy their own Greenwich franchise. Impressed with Tueres’s business acumen and
the growth of Greenwich, Jollibee Foods Corporation obtained a deal in 1994 to acquire 80% of
Greenwich’s shareholding. Since then, the pizza parlor branched out to include other dishes in
its menu. In 1997, Greenwich had a record sale of P1 billion.
 Milagros, Clarita, and Doris Leelin – Goldilocks
With only two cake displays and ten employees, Milagros, Clarita, and Doris Leelin started
Goldilocks at a 70-sq-m building space in Makati. Sisters Milagros and Clarita loved baking and
decided to pursue their passion into business. With the help of their sister-in-law Doris, the
Leelins opened their first branch. In 1991, Goldilocks launched its franchising program. As of
2015, the bakeshop chain had almost 400 stores across the country, with other branches in the
USA, Canada, and Southeast Asia. From a modest capital of P66,000, Goldilocks is now a multi-
million food enterprise with more than 4,000 employees.

B. Essay:

1. Give an example where an entrepreneur was able to introduce new technology ?

 Technology is the way to achieve more profit with less investment in business. Example is the
internet technologies. It create virtual global environment like conference call, video chat &
Webinar and minimizes the need of travelling, brings smooth operations and ease of conducting
businesses. Technology also brings 24/7 working environment and work from home culture
which avoids the need of large offices and reduces the operational costs. The strategies like
“bring your own device” minimises electronic wastes. With all these advantages and easy
accessibility of technology makes it possible for even a normal human being to start a venture.

2. An entrepreneur is usually a positive thinker and a decision-maker. Explain briefly

 The power of positive thinking is leaving yourself open to success and happiness. Positive
thinkers avoid negative thoughts and self-criticism. It Improves your outlook by practicing daily
 affirmations and always focusing on the positive in any situation, and positive thinking improves
decision making because it is somewhat logical that if you're in a negative frame of mind, you're
less likely to make decisions that have a positive impact.

3. Discuss the contribution of entrepreneur in creating new markets.

 An entrepreneur is an individual who creates a new business, bearing most of the risks and
enjoying most of the rewards. The entrepreneur is commonly seen as an innovator, a source of
new ideas, goods, services, and business/or procedures. Entrepreneurs play a key role in any
economy, using the skills and initiative necessary to anticipate needs and bring good new ideas
to market. Entrepreneurs who prove to be successful in taking on the risks of a startup are
rewarded with profits, fame, and continued growth opportunities. Those who fail, suffer losses
and become less prevalent in the markets.