Important People in Economics

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1.

Tony Tan Caktiong, Jollibee


To be a billionaire is everybody’s dream, just like that of this young lad, born
the son of a cook for a Buddhist temple, now in the leaderboard for success.

Tony Tan Caktiong as a young boy started as a helper in their family business.
He grew up cleaning tables, washing the dishes, and serving the customers.
Because of his family and his own perseverance as well, he was able to earn a
degree in BS Chemical Engineering from the University of Sto. Tomas.

He ventured into the restaurant business following the path of his father and
franchised the then famous Magnolia Ice Cream House from the money he
borrowed from his family’s savings. Soon enough, he expanded his ice cream
parlor and offered chicken and burgers on his menu. Soon it was his burgers
that outsold the ice cream products.

Tony and his siblings immediately decided to transform their ice cream parlors
to burger restaurants, which they named Jollibee. Today, Jollibee Foods
Corporation is one of the leading restaurant brands not only in the country
but also all over the world.

His strategy: Nothing is impossible if you believe. Just like going against the
giants in the business, with close attention to what your customers demand
from you, and if you have the right attitude toward managing the risk and its
rewards, you too can make it big in the saturated industry where you’re in.
2. Edgar “Injap” Sia, Mang Inasal
A true-blue provincial guy, Edgar “Injap” Sia started his fast-food chain Mang
Inasal from scratch in 2003.

From its humble beginnings with a sole branch in Iloilo City to more than 300
branches nationwide today, he was able to sell its full operations to Jollibee
Foods Corporation for a total of P5 billion.

With a clear vision, he decided to embark on a new journey capitalizing at the


property business sector with his siblings and Tony Tan Caktiong, the man
behind JFC. Their partnership was able to accumulate a total of one million
square meters of leasable space now known as Double Dragon.

His may not be your typical rags-to-riches story but his meek and modest start
at the province, to now competing with the giants in the industry, his story
remains as an inspiration to all the probinsiyano  entrepreneurs in the
Philippines.

His strategy: Be persuasive and have the foresight to build a business on your
own. Never forget to look back to your humble beginnings because your first
step in real life will also be your last step to success.

3. Diosdado Banatao, Chips and Technologies Co.


Known as the Bill Gates of the Philippines, Diosdado Banatao is a son of a rice
farmer and a housewife from Cagayan Valley. Due to poverty, he walked
barefoot to school to ensure he got his elementary and high school education.

He pursued Electrical Engineering at Mapua University and graduated cum


laude. Soon, he was offered a design engineer job at the United States for
Boeing Co. after his stint as a pilot trainee in Philippine Airlines.

After completing his master’s degree in Electrical Engineering at Stanford


University, he joined Homebrew Computer Club where he was able to meet
famous personalities such as Steve Wozniak and Steve Jobs. His capabilities in
the field led to his discovery of a single-chip controller, chipsets, and the like,
which are considered as milestone products in the computer industry.

Because of this, he was able to build his own company, Chips and
Technologies Co., which was later acquired by Intel at the whopping price of
$430 million.

As a way of thanking his alma mater, Malabbac Elementary School, he made


sure that even as a public school they will have the most advanced computer
system in the country.

His strategy: Your four years in college will surely leave a lasting impact on
your entire life. Always remember that good education is the catapult to
success.

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