VARRY S.

DAZA BSIT-3A

ACTIVITY 3 – ISNTEAD OF GROUP ASSIGNMENT THIS IS STILL INDIVIDUAL

WORK. IN NOT LESS THAN 10 PAGES BOND PAPER, FONT 12 ARIAL.

 IDENTIFY A SUCCESSFUL ENTREPRENUER

 HOW DID THE ENTREPRENEUR CREATE VALUE?

 HOW DID THE ENTREPRENEUR USE THE RESOURCES AROUND HER/HIM

TO SATISFY NEEDS OR SOLVE PROBLEMS?

HENRY SY.

SM is much more than a shopping center. It's a well-liked icon. SM is where I have

many of my favorite memories. Buying stuff, seeing tentpole films, romantic time, figure

skating, and foodie excursions are all available at SM. This massive complex of much

more than 44 major retail centers in the Philippines and across Asia, on the other hand,

had origin story.

Start believing that or not, Henry Sy's life was a rags-to-riches story. Henry Sy, who was

born in Xiamen, China in November 1924, was not born with a silver spoon in his

mouth. Henry followed his father to the Philippines in order to escape poverty, only to

have a wretched youth in a foreign nation. Sy suffered as a foreigner living in a distant

nation and learning the native dialect. Keen to succeed, he worked tirelessly day and

night to meet his family's requirements.

He recognizes numerous chances, allowing him to establish Shoe Mart "SM," the

world's first air-conditioned shoe store. The shoes are displayed in a classy and

appealing manner in the store. With the store's biggest success story, he wanted to

open more locations. However, his ambition did not come true because he was unable

to find further suppliers. At the time, most manufacturers refused to listen to him. He

refused to cooperate with the volume that he required. Because of these factors, he

eventually moved his focus to clothes and other items with the assistance of her mother.

Sy did not become famous immediately. He registered himself in school and graduated

from Far Eastern University with a degree in commerce. Sy even had to alter his legal

name, sell rejected and overrun shoes, and deal with a slew of other disappointments

early in his life. He didn't give up and pushed through until he believed something huge,

this is what he now has, was on the way.

After a string of setbacks in his firm, Henry Sy rose to the occasion and persevered in

his pursuit of his goal. In 1958, he opened a tiny shoe store called "Shoe Mart" in

Quiapo, Manila, which led to the formation of SM Prime Holdings. With three of the most

valuable companies in the Philippines: SM Investments Corp. and SM Prime Holdings

Inc., both valued at over Php 1 trillion, and BDO Unibank, valued at around Php 635

million, he has become the richest man in the country for 11 consecutive years since

2005, and is ranked 52nd in Forbes World Billionaires List of 2018.

Henry Sy. would shop at the "Divisoria Flea Market". He takes all products on his back

and then sells them in her father's modest store named (sari-sari). When they were both

about to close the store, they would sleep in a little room to create his way of life much

easier.
He hoped to create more additional money, therefore he didn't have opportunity to enjoy

with his pals. World War II arrived, and his father's store was finally torched and

plundered. During the war, he did a lot of selling and buying weird stuff to assist his

family survive. Following the war, he engaged into buying American shoes brought by

the enterprising Gis.

After two months of martial law, he launched a department store in 1972. The business

was slow at first, but it grew with time. He continued to open more exceptional

department stores to the point that he ran out of room in attractive retail malls. He

considered his long-term objectives.

He opened a supermarket, a department shop, and a tenant with a lot of criticism but a

lot of optimism and sheer persistence. At the very same time, the "Shoemart Makati"

was subjected to widespread strikes. He was really sad at the moment, but his

colleagues and customers encouraged him to keep going. Despite the difficulties, he

never loses faith in his ability to carry on with his firm. He was dedicated to reaching a

valuable aim for a company. He not only persuades himself, but also his team

colleagues, to join him in his passion.

Henry Sy picks up a lot of new ideas from his suppliers, employees, and consumers. He

gained enough confidence by conducting extensive on-site work study to expand his

business to the department store chain. The "Consolidation Program of the Central

Bank of the Philippines" encouraged him. As a result of this encouragement, he is

motivated to make Philippine banks competitive in their field.

That never-say-die attitude propelled Henry Sy to his current position as being one of

the world's wealthiest individuals and a world-class commercial center developer who

provides opportunity to both entrepreneurs and the working enthusiast.

Many are not born with the proverbial silver spoon in their mouth. Some people have

had to work extremely hard to get where they are now. The Philippines' most great

entrepreneurs demonstrate that impoverishment should never be an impediment to

progress.

Many unexpected things arise in life, and in order to meet these demands, you must be

determined. With strong determination, you may readily take on additional difficulties

and do things differently to achieve greater achievement.

Reference:

https://www.franchisemarket.ph/blog/filipino-entrepreneurs

https://primer.com.ph/business/2015/12/27/success-story-henry-sy-sr/