Entrepreneurship - SY2223-2T

Jay Edenson A. Bermas | MAWD – 12 | 02/18/2023

01 eLMS Review 1 ARG

Instructions:

Directions: Answer the following questions.

Choose a famous entrepreneur you look up to and share his/her success story.

List at least three (3) characteristics of your chosen entrepreneur that helped him/her reach success.

Answer:

Henry Sy Sr.

Henry Sy's tale was one of "rags to riches." Henry Sy was not born with a silver spoon in his mouth. He
was born in Xiamen, China, in November 1924. Henry followed his father to the Philippines in an effort
to escape poverty, but instead of finding relief, he spent a horrible childhood there. Sy fought hard living
in a different nation as an immigrant and had to learn the local language. He put in a lot of effort, day
and night, determined to succeed and meet his demands.

Sy started out with a small sari-sari store business that helped them in their day-to-day life. Sy and his
father lived in a small space until the fruits of their labor made them successful in the following years.
However, when the Philippine economy collapsed in World War II, their store burned down that forced
his father to go back to China. Henry Sy stayed in the Philippines and built his own shoe business in
Marikina.

Sy did not have an overnight success. He enrolled himself to school and was able to graduate college
with a degree in commerce from Far Eastern University. Sy also changed legal names, sold rejected and
overrun shoes, plus many other setbacks that he had to face early in life. He did not give up and pushed
through maybe because he knew that something big, which is what he has now, is about to come.

After a series of failures in his business, Henry Sy stood back up and persevered to attain his goal. He
established a small shoe store in Quiapo, Manila in 1958 named “Shoe Mart” that eventually marked the
establishment of SM Prime Holdings. Now with three of the most valuable companies in the Philippines:
SM Investments Corp. and SM Prime Holdings Inc., valued at over Php 1 trillion each, 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 ranked 52nd in Forbes World Billionaires List of 2018.
The 3 Characteristics of Henry Sy:

 Perseverance – Despite the numerous setbacks and difficulties he encounters in life, he never
gives up and keeps working toward his goals.
 Hardworking – He puts a lot of effort and works hard to accomplish his life's purpose.
 Persistent – He succeeded by remaining persistent in his work; despite challenges, he would find
a method to overcome them.