Project in Entrepreneurship

Jasmin, Niña Grace S.

12- STEM Malachi
 “Entrepreneurs should never give up due to
failure. All of us should learn from our
setbacks. We should never surrender to
despair.” – Lucio Tan

Lucio Tan
Lucio Tan was born on July 17, 1934 in

China’s Fujian province. His family moved to

Philippines, in Naga, where he was a child.

He worked his way through college studying

Chemistry in Far Eastern University but quit

before graduating, set up a business that

deals with scrap in the late 1950s and later on

found a job in a tobacco factory where he was

tasked to buy leaf tobacco in the Ilocos

provinces.

Because of this experience, Lucio Tan started his own cigarette company named Fortune Tobacco in

1966. It was also during this time when his close friend Ferdinand Marcos was newly elected as

President. The tobacco business was a success and it expanded introducing a budget brand ‘Hope’ in

1975. By year 1980, Fortune Tobacco was the Philippines’ largest cigarette manufacturer.

 In 1977, Lucio Tan acquired from the Philippine Government the then bankrupt bank General Bank

and Trust Co. (Genbank) for only P500,000 which was described by many as a sweetheart deal. It

was later renamed to Allied Bank.

 In 1982, Lucio Tan established and put up Asia Brewery where he used to his benefit, the Marcos

ruling that lifted the ban on the establishment of new beer companies. Back then, it was the only

brewery allowed to compete with the market leader San Miguel Corp.
 (Philippine Air Lines Logo)

 In 1993, Lucio Tan secured control of the country’s airline carrier Philippine Air Lines (PAL). While a

lot of articles say that Lucio Tan benefited a lot from tax concessions and privileges that the Marcos

Regime gave to him in exchange for a rumored 60% on all his shareholdings, on December 7, 2007,

the Philippine Supreme Court affirmed the decision dismissing the state’s sequestration of Lucio

Tan’s companies. The court’s decision says that “there can be no question that indeed, petitioner’s

orders of sequestration are void and have no legal effect.”

 In 1995, he founded yet another company in the aviation industry. The Macro Asia Corporation was

envisioned to be the leading provider of aviation and logistics services. This vision has become a

reality as Macro Asia Corporation is now the provider of technical ground handling, engineering and

maintenance services, and catering services to majority of the international airlines.

 In 2000, Tan has become the majority stockholder of Philippine National Bank. The merger of PNB

and Allied Bank is expected to be completed before the end of this year.

His companies deal with liquor, tobacco, aviation, banking and real estate. These are;

 Asia Brewery, the 2nd largest brewer in the Philippines.

 Tanduay Holdings, one of the world's largest rum makers.

 Fortune Tobacco, the largest tobacco company in the country.

  Philippine Airlines, the Philippines' Number 1 Airline and Aviation Company and Asia's FIRST

Airline

 University of the East, one of the most financially stable universities in the Philippines in terms of

assets.

 Philippine National Bank, the 5th largest bank in the country.

 Allied Bank, the Philippines' 8th largest lender (Merged with Philippine National Bank).

 Eton Properties Philippines, the global real estate brand of the Lucio Tan Group.

To date, Lucio Tan's Group of Companies provides jobs to 50,000 people. To these employees, Lucio

Tan is simply Kapitan. A nickname that is very much appropriate to him as he was able to navigate his

vast businesses through rough seas and tough times.

Today, Lucio Tan is still one of the richest person in the Philippines ranking him as second to Henry Sy

last year 2008 with a total asset of %1.5 Billion. His Lucio Tan Group of Companies now owns several

industries that includes liquor (Tanduay Holdings, Inc. and Asia Brewery), tobacco (Fortune Tobacco),

aviation (Philippine Airlines), banking (Allied Bank and Philippine National Bank), real estate (Eton

Properties Philippines), and education (University of the East).

(Fortune Tobacco, the largest tobacco product in the country)

 “Don’t be scared to make mistakes. Just be quick
to recognize them and learn from them as fast as
you can. Learn from each mistake and it will not
be a waste of time.” – Caktiong

Tony Tan
Caktiong
Born third of seven siblings, Tony Tan Caktiong

was from a poor family in China who immigrated

to the Philippines in hope that they may have a

better life. His family helped each other out,

establishing a restaurant business in Davao

which enabled young Tony to study Civil

Engineering in the University of Santo Tomas.

When he was 22, Caktiong decided to shell out P350, 000 in an ice cream parlor franchise. He opened

Cubao Ice Cream House and Quiapo Ice Cream House. As their business becomes more and more

successful, they started to hire more people to help them manage it. Two years later, he decided to serve

hamburgers, fried chicken, and spaghetti as people began to tell him that they don’t want to eat ice cream

all the time. It was then that they decided to rebrand and change their name to “Jollibee” as it represents

them as a company, and the people that they cater to – hardworking and happy.

As years go by, the Jollibee group grew bigger. Caktiong partnered up and established a couple other

food chains including Chowking, Red Ribbon, Greenwich, and Delifrance. Aside from bringing Jollibee,

Chowking, and Red Ribbon to other countries, they’ve also established new food chains in China and

Taiwan which suit the tastes of the people there.

As of 2016, Tony Tan Caktiong ranked 6th in Forbes’ Philippines’ 50 Richest. He was also awarded the

Entrepreneur of the Year and the Ernst and Young Entrepreneur of the Year in 2004.
 (Tony Tan Caktiong with their famous mascot, Jollibee)

He also occupies the position of Chairman for Jollibee Foods Corp., Chairman at Red Ribbon Bakeshop

Holdings, Inc., Chairman of Tokyo Terriyaki Corp. and Chairman for Jollibee Foods Corp. (USA) (which

are all subsidiaries of Jollibee Foods Corp.), Chairman & General Manager of Happy Bee Foods

Processing (Anhui) Co., Ltd., Co-Chairman of DoubleDragon Properties Corp., Co-Chairman for The

Citymall Commercial Centers, Inc. (a subsidiary of DoubleDragon Properties Corp.), Chairman at

Honeystar Holdings Corp. and Chairman for Guangxi San Pin Wang Food & Beverage Management Co.,

Ltd. Tony Tan Caktiong is also Chairman for STI College Batangas, Inc., Member of World Presidents'

Organization, Member of Chief Executives Organization, Inc. and Member of Jollibee Foundation and on

the board of 72 other companies.

 In the year 1978, Tan founded Jollibee three years after establishing an ice cream parlor.

 In 1979, Tony and his brother went to the US to study the fast-food business. They spent a couple

of weeks looking at the kind of equipment used, the retail outlets, the food served and various

other things. Tony decided to copy almost each and every aspect of US fast-food majors,

particularly McDonald’s and benefited from tested business practices. In so doing he avoided
 ‘reinventing the wheel.’ Tony was aware that Jollibee could not compete with McDonald’s which

had financial muscle and decades of expertise in the business. But by establishing Jollibee in

1978, Tony pre-empted McDonald’s entry into the country.

 In the year 2006, he acquired the Greenwich Pizza Corp, entering the pizza and pasta food

market. Jollibee Foods Corp bought the remaining shares of Greenwich Pizza Corporation and

became a 20% stake-holder. He bought out the shares of his partner, Greenwich for a cash

amount of P384 million. Under the leadership of Tan, Jollibee has become the most popular chain

of fast food restaurants in the country. Today, it is one of the leading fast food chains and

dominates 50% of the food market. Tan acquired the Yonghe Dawang in 2004 and the Chowking

Oriental in 2000.

 In 2012, Tan, through his holding company, Honeystar Holdings Corporation, invested in Injap

Land Corporation, a property company founded by Edgar Sia II. With Tan's entry, the company

was renamed DoubleDragon Properties Corporation.

(Jollibee Inc. Logo)

 “Fear is the disease. Hustle is the antidote.
Whatever it is you are afraid of, go after it.” –
Kalanick

Travis
Kalanick
Travis Kalanick, (born August 6, 1976, Los

Angeles, California, U.S.), American

entrepreneur who was cofounding CEO

(2009–17) of the ride-hailing app company

Uber, which provided transportation by

enabling users to page freelance drivers of

privately owned vehicles via smartphones.

Kalanick grew up in a suburb of Los Angeles.

He was interested in computers from a young age and had learned to write computer code by the time

he was in middle school. He studied computer engineering at the University of California, Los Angeles

(UCLA), but he dropped out in 1998 to help launch the start-up company Scour, Inc., with several of his

UCLA classmates.

 In the year 1997, Scour was founded by five students (Vince Busam, Michael Todd, Dan

Rodrigues, Jason Droege and Kevin Smilak) from the Computer Science Department of the

University of California, Los Angeles (UCLA) in December 1997. Scour, which offered an Internet

search engine and file-sharing services, was one of the first dot-com companies to enable users

to share movies and music online.

 By 2000, although its services quickly became popular, the company was sued for copyright

infringement by both the recording and motion-picture industries. Scour eventually filed for

bankruptcy in 2000 and later sold off all of its assets.

 (Travis Kalanick as the guest speaker in Indian Institute of Technology (IIT) campus in Mumbai)

 By 2001 Kalanick had rebounded from the bankruptcy by founding Red Swoosh, another firm that

specialized in file-sharing technology. Red Swoosh won a number of prominent corporate clients,

and Kalanick was able to sell the company in 2007 to Akamai Technologies for nearly $19 million.

He was subsequently active as an “angel investor” (funding promising start-ups) before launching,

with cofounder Garrett Camp, Uber in 2009;

 By the year 2009, Uber was founded by Kalanick. It was headquartered in San Francisco. From

an initial operation that offered only three cars for hire, the company soon developed into a

juggernaut, expanding to multiple overseas markets by 2012. Three years later Uber operated in

66 countries and more than 360 cities worldwide. As the company expanded, Kalanick developed

a reputation for being both aggressive and combative.

 While Kalanick touted Uber’s efficiency and its innovative use of smartphones, cloud computing,

and GPS technology, the company was fiercely opposed by the established taxicab industry and

often found itself at odds with regulators. In 2014 taxi drivers in major European cities, including

London, Paris, and Madrid, staged high-profile demonstrations to protest Uber and to call for
 government oversight of it and other ride services that relied on unregulated private-hire drivers.

In Thailand, the Netherlands, and a number of other countries and cities, Uber faced complete or

partial bans, with several courts ruling that Uber’s practices constituted unfair competition. Despite

the regulatory headwinds, Kalanick remained intent on international expansion, particularly in

Asia.

 In 2019, Kalanick stepped down as chief executive of the ride-hailing service, following intense

pressure from investors.

(Uber Logo)