Veronica G.

Soberano
BSED 1C

GLOBAL ECONOMIC INSTITUTIONS (RESEARCH) :

7 ELEVEN CONVENIENCE STORE

Origin : The stores called 7- Eleven trace their origin to 1927, when several icehouse
companies—which primarily sold block ice for food preservation to households without electric
refrigerators—merged to form the Southland Ice Company in Dallas. Either after the merger, or
shortly before it, one of the icehouses also began selling food items. Southland Ice soon took up
general retailing, installing attention-getting Native American totem poles in front of some of its
stores and adopting the name Tote’m Stores, which served as a punning invitation to customers
to “tote” their purchases away. Joe C. Thompson, Sr., became president of Southland Ice in
1931. During the Great Depression the company went through bankruptcy. It emerged with a
new emphasis on food and drink, especially after the repeal of Prohibition in 1933, when beer
and liquor were first offered for sale.
In 1946 the stores were renamed 7-Eleven to call attention to their extended hours of operation—
from 7:00 AM to 11:00 PM, seven days a week. About the late 1950s, Southland began to
expand beyond Texas, opening 7-Eleven stores on the East Coast. Joseph Thompson’s son, John
P. Thompson, became president in 1961 and further expanded operations in the United States
and elsewhere. Starting in 1963 some outlets stayed open 24 hours a day, and the following year
the company began to franchise its stores.
International Connections :
7-Eleven now has stores in Thailand, Taiwan, South Korea, China, Malaysia, Singapore,
Philippines, Australia, Sweden, Norway, Denmark, Hong Kong, Macau, Indonesia and UAE
through area license and master franchise agreements.
Country-Leaders:

 Joseph DePinto – President and CEO of 7 Eleven Inc.

 Ken Wakabayashi - Senior Vice President and Head of International for 7-Eleven, Inc
 Stanley Reynolds - Executive Vice President, Chief Financial Officer & Chief
Administrative Officer
 7 Eleven Map of Interconnections

Photo source: https://en.m.wikipedia.org/wiki/7-Eleven

1. How does this institution influence global economic activity?

 7-Eleven has come to gain a ‘No. 1 Convenience Store’ status in many countries and
regions around the world. Such remarkable result was achieved by adapting the
concept of Retailer Initiative supported by highly sophisticated IT and network
technologies in order to adjust to the specific conditions and situations of each region.
As of March 31, 2019, there were a total of 68,236 7-Eleven convenience stores in
operation around the world. 20,904 of these stores were located in Japan, making it
the country with the most 7-Eleven stores in the world.

2. How does it affect economics in the Philippines?

 Philippine Seven Corporation (PSC), licensee of global convenience store chain, 7-
Eleven, held its annual stockholders meeting this July 24, 2012, two weeks after the
soft opening of their first stores in Cebu. The country’s leading c-store posted a 29%
income growth in 2011 despite setbacks posed by wetter weather and a weaker
economy. This was coming from a 78% growth seen last 2010.
References:

 7 Eleven Philippines, (2012, July 14) 7 eleven reports 29% growth in 2011,
https://www.7-eleven.com.ph/press/7-eleven-reports-29-growth-in-2011/
 7 Eleven Corp,( n.d.) About Us, https://corp.7-eleven.com/corp/about
 Encyclopedia Britannica, (n.d.), 7 Eleven , https://www.britannica.com/topic/7-
Eleven
 Wikipedia, (n.d.), Global Operations, https://en.m.wikipedia.org/wiki/7-Eleven
 NEC, (2009), Achievements, https://www.nec.com/en/case/7-eleven/pdf/7-
eleven_outline
Veronica Soberano
BSED 1C

 The support of other countries during natural disasters in the Philippines was notably
seen in the aftermath of one of the strongest and most destructive typhoons to hit the
country Super Typhoon Yolanda claimed 6,201 lives as it tore across the Visayas in
November 2013. For the families in hard-hit communities, there was also more suffering
in the days, weeks, and months to come. Donations from foreign governments and non-
governmental organizations, however, poured in for the 1,472,251 affected families and
helped ease their burden.

According to the United Nations Office for Coordination (UNOCHA), the total aid given
for Yolanda survivors reached $865,151,866 (P41.8 billion). The UN Emergency Relief
Agency gave $3 million (P145 million) to facilitate water and sanitation improvement in
the affected areas. The UN later raised $28.6 million (P1.4 billion) as part of its
Philippines (Mindanao) Humanitarian Action Plan 2012.

 According to a recent Social Weather Stations survey, 15.2% or an estimated 3.4 million
Filipino families experienced involuntary hunger during the second quarter of 2016.
Meanwhile, the 2015 Global Food Security Index (GFSI) ranks the Philippines 72nd out
of 109 countries when it comes to food security. UN agencies such as the World Food
Programme (WFP) and the Food and Agricultural Organization (FAO) have contributed a
lot in turning around the current food insecurity situation in the Philippines.

WFP, for its part, implemented various projects focusing on solving malnutrition across
many areas in the country while working closely with government agencies such as the
Food and Nutrition Research Institute (FNRI).

 The United Nations Children's Emergency Fund (UNICEF), meanwhile, has addressed
infant and maternal mortality in the Philippines in recent years by increasing the number
of deliveries attended to by skilled birth attendants in equally safe facilities.

The rallying support of UNICEF behind improving the lives of children and mothers in
the country resulted in an increase in PhilHealth-accredited health facilities and
rural/barangay health units with birthing facilities in vulnerable areas such as Sarangani
and Eastern Samar, among others.

UNICEF also supports the efforts of the DOH when it comes to vaccine preventable
diseases. It provided assistance in high-risk areas in Mindanao and the Cordillera regions
to eliminate maternal and neonatal tetanus.
 Aside from health, UNICEF also supports the government’s Early Childhood Care and
Development (ECCD) which promotes universal kindergarten.

The programs, implemented in areas suffering from poverty, conflict, or natural disasters,
resulted in increased participation of 3- to 5-year-old children in Mountain Province,
Masbate, Eastern Samar, Northern Samar, North Cotabato, Sarangani, Davao City,
Maguindanao, and Manila.
At least 9,000 school children in conflict-affected areas in the ARMM have also attended
ECCD programs and facilities.

United Nations is an organization that maintains peace and security to our planet. It
develops friendly relationships among different countries and deals with the matters of
economy, human rights and culture. Also responsible from world happenings such like
disaster, war and spreading diseases like Covid 19. So indeed, this organization has a
very special role in our world.

Reference :
 Gavillan, J. (2016, October 9) What Typhoon Yolanda foreign aid looks like without US,
EU and UN, https://rappler.com/newsbreak/iq/united-nations-european-union-united-
states-foreign-aid-philippines-typhoon-yolanda
 Gavillian, J. (2016, Auguust 23) What did the UN do for PH? Disaster response, health
programmes and more, https://rappler.com/newsbreak/iq/united-nations-contribution-
philippines