FILIPINO SUCCESSFUL ENTREPRENEUR

TONY TAN CAKTIONG

Tony Tan Caktiong was a Filipino Chinese entrepreneur who set up a two-outlet ice
cream parlor business in the city of Manila. It was 1975 when he began his business. His father
used to operate a kitchen in Fujian,China, which was where Tony association with the food
services business began.Eventhough his ice cream parlor business was doing well, Tony wanted
to expand in the foods business in the form of a fast-food outlet chain. He was inspired by the
global popularity of companies like McDonalds which was planning to enter the Philippines
during that time, butWendys and Burger King already had a presence in the Philippines.Tony
established his own chain of seven hamburger outlets in 1978 under the name Jollibee. He did
not get a franchise like Wendys or McDonalds. Tony and his brother went to the US in1979 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 copyalmost
each and every aspect of US fast-food majors, particularly McDonals and benefitedfrom tested
business practices. In so doing he avoided preinventing the wheel.Tony was aware that Jollibee
could not compete with McDonalds which had financial muscleand decades of expertise in the
business. But by establishing Jollibee in 1978, Tony pre-empted McDonalds entry into the
country.Jollibees strong focus on issues such as product development, operational excellence,
customer service, marketing and promotion, and social responsibility, and the leadership
helped it become the market leader in the Filipino fast-food industry, beating all the
multinational companies. The company has globalization strategies and future prospects in the
light of the new challenges it is facing in foreign .

Twenty-seven years ago we didnt have a firm vision that we would be number one, but we had a rough
vision that we would go outside the Philippines. We also had a goal to take care of our customers and
employees and to enjoy what were doing.Once we did all these things, the profits would come. Tony
Tan Caktion was born on October 07, 1960 to a working-class family from Fujian, China,who migrated to
the Philippines during the post WWII era. Tonys father found work as a cook at a Buddhist temple in
downtown Manila and accordingly scrimped and saved so he could openhis own Chinese restaurant in
order to provide for his family. His father hard work and perseverance made it possible for Tony Tan
Caktiong to earn a BS in Chemical Engineering atthe University of Sto. Tomas, the Philippines oldest
university.In 1975, Tony ventured into the food business by buying an ice cream parlor franchise from
the once famous Magnolia Ice Cream House. The parlor was small and nondescript, which cateredmostly
to the well heeled shoppers of Cubao. They were customers who could afford to buycleverly concocted
but rather expensive cobblers, floats, milkshakes, banana splits, sundaes and parfaits.However, most of
Tony regulars wished that the parlor had something else to offer, other thanice-cream concoctions.
Hence, the small nondescript store started offering sandwiches, fries andfried chicken, which started to
attract the attention of other tired and hungry shoppers, movie-theater goers and passers-by. The word
fastfood was still unheard of at that time, but it was whatthe small store had to offer at affordable
prices.Soon after, customers started filling the store beyond its capacity as they patiently waited for
their turn to be served. By 1978, Tony added six more ice cream parlors around Metro Manila, but the
ice cream treats were no longer the attraction. Taking inspiration from America fast-rising McDonald
food chain, Tony and his family decided to transform the ice cream parlorsinto fastfood outlets.They
strategized with their new venture by coming up with a unique name and symbol. SinceTony personally
felt happy by working busily as a bee to produce honey ,which in tony case was money, he and his
family decided to work on the busy bee concept. Hence, they came upwith the large red and yellow bee
with an effervescent smile on its face and called it "Jollibee".The once nondescript ice cream kiosk
became Jollibee Food Corporation and braved the arrivalof the McDonald fast food chain in the
Philippines in 1981. Jollibee came out unscathed as it became the first Philippine food chain to break the
one billion peso sales mark in 1989. The ground work for global expansion was laid out when it became
the first food service company to be listed in the Philippines.

As years go by ,the jollibee grow grew bigger ,Caktiong partnered up and established a couple other
food chains including chuaking ,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 sult the tastes of the people there .

As of 2016 ,Tony tan caktiong ranked 6th in forbes philippines 50 riches he was also awarded the
entrepreneur of the year and the first and young entrepreneur of the year 2004.
 MY REFLECTION

My reflection about the life story of Tony Tan Caktiong filipino entrepreneur successful
in the Philippines he is a very hardworking and diligent entrepreneur and he is also strategic in
life and even though he has gone through many challenges,he still many awards from his own
efforts and he also inherited something because his parents are also diligent when it comes to
entrepreneur .He is one of the good examples for today's youth who are studying business or
entrepreneur that we should be able to grow our business even though many challenges come
just keep fighting so that we can become successful entrepreneur and we should be like Ton
Tan Caktiong that we should care about the customer and have love and the business we do
should be our inspiration while be live and we should love i even though he started with a small
business,he didn't give up he worked hard to grow it and he came from a poor family he
became a successful entrepreneur in jollibee.Tony Tan caktiong life story is amazing to me
because despite his experience in life ,he is already successful person here in the philippines
and he is the youngest person to be successful

Submitted by:RECHEL J. DANGLONG

BEED 2- BLOCK 1

Submitted to:Si'r Nino Lito M. Sumagingsing