The Development of

Entrepreneurship
THE MAKING OF FILIPINO ENTREPRENEUR
• It is a process of trial and error.
• The colonization of the Filipino for more than 300 years is a great factor in the slow development of
entrepreneurial activity in the country.
• Entrepreneurship is more than being self-employed and making a living out of the meagre income to
support family needs or a little of their wants.
• The success of Filipino entrepreneur stands in a very shallow foundation.
• The food business outlet is one of the most abused and most prominent activities of some Filipino
business entrepreneur, including that of small outlet in the distribution of basic grocery and other items
called sari-sari store or in some cases mini-grocery store. Some enterprising outlets include cellular
phone load that adds to their income.
• Most Filipino business starts on a copy cat syndrome.
– Example: Juana starts a barbeque stand on the corner and here comes Petra with another outlet with another
variety of street foods. (This is the scenery in most Philippine business condition.)
THE MAKING OF JOLLIBEE FOODS CORPORATION

• Tony Tan Caktiong

• He is the Chairman of Jollibee Foods Corporation (JFC), the undisputed leader in the
Philippine's fast food industry. He started the business with two ice cream parlors in 1975,
and created Jollibee in 1978.
• The founder is not a true Filipino in strict sense of his origin. He has the Chinese blood which
he inherited his business acumen from his parents who knew how business should grow and
prosper.
• His success was based on his talent for innovation and finding a business that make him a
multi-millionaire.
THE FOUNDATION OF NATIONAL BOOKSTORE
• The founder, Socorro Ramos
• She came from a poor family that sustained a living from selling various items to support
their basic needs.
• She was a working student while in high school but because of her persistence and
perseverance she graduated with honours.
• she worked as a sales clerk in Goodwill Bookstore owned by her brother where she learned
the rudiments of book business.
• Socorro started producing greetings cards in the 1950s. These greeting cards, featuring
Filipino scenes and artwork, was an entirely new concept in the Philippines.
• The Ramos couple knew that they could expand their business with the savings that they
had and bought the present office of the store at Rizal Avenue in Santa Cruz, Manila where a
9 story edifice was built. They built a building complex in Pasig where printing and other
services are being made.
• Their children were trained the same hard way and they are all successful, fitted to inherit
the new growing business empire.
LEONARDO SARAO, THE JEEPNEY KING
• Founder Leonardo Sarao
• The jeepney king started the business by being a helper mechanic until he
established his repair shop from a meagre capital.
• Sarao jeepneys abound in all terminals during the early period of transport
development in the country until copycats made jeepneys of similar styles.
• He started buying second hand parts and engines from Japan and built jeepneys
that abound in most streets of the Metropolitan Manila and its suburbs.
• He established the jeepney factory with meagre capital and made savings to expand
his operations.
• He ventured into other business activities and success was not based on his
education but hard work and determination.
• All his children became professionals and are now engaged in various business
activities that made them of what they are today.
THE CHALLENGES FOR ENTREPRENEURSHIP

• The new generation of young entrepreneur should look up the

high standard of values and character of entrepreneurs who got
up the ladder of success.
• Success in entrepreneurial activity is based on the inner
compulsion to achieve the undeterred difficulties.
• The values and character of JUAN TAMAD has no place in the
world of entrepreneurial vocabulary.
Challenges
• 1. The new entrepreneur must be a doer and willing to work hard and long until he
achieved the task he wanted for himself. He must possess the versatility for success
and self confidence that could be overcome risk with his strong determination. The
exploration of the total business environment must be put into total perspective as it
interplay with the development of new opportunities and the risk that is attached to
it.
• 2. Personal attention and comprehensive awareness for the progress of the
business is not trusted on other people. The entrepreneur must be in direct control
of operation and not in indirect control. He must be able to measure the desired
results. He must personally verify the data and financial figures that were spent and
earned in the operation of the business.
• 3. The new entrepreneur must have high sense of integrity that he stands firm on his
principles and ideals. His word of wisdom is a contract to depend on. He looks at
things in different perspectives and approaches things with varied alternatives to
attain what he wants. In short, he is a visionary, innovative and would not stop until
he achieved the goal he sets for himself. Emotional stability is an important factor in
the making of an entrepreneur.
• 4. While he is impatient for mediocre performance and lazy
bones, his temper must remain in control. Interpersonal
relationships must be the banner in negotiations and effective
personal communication is the key factor in closing business
deals.
• 5. The built in self -starting mechanism that drive entrepreneur to
success is his executive ability to manage people and resources.
This executive ability refers to how he plans, organizes, directs
and controls the physical and material resources under his
disposal. Many entrepreneurs were describe to have shrewd
judgment in character that induced them to see things the way it
should be. He has a passion for excellence and mediocre
performance has no place in his entrepreneurial vocabulary.
• The new entrepreneurs and those who believe in their capacity for long hour of work
to get things done, spend 75 percent in dreaming innovation and putting them into
action. Dreams are built around creativity as he conceived original idea out of his
imagination.
• The entrepreneur is like a multi-awarded artist with a handful of trophy of
accomplishment equipped with inner drive in transforming idea into tangible reality.
• Sacrifice for long working hours and abandonment of personal life pleasures make
the entrepreneur achieve their target goals.
• They organize and develop their idea into achievable activities and surpass the
factors of risk.
THE STARTING POINT TO ENTREPRENEURIAL SUCCESS
• Start to be on your own
– An individual can never attain success in entrepreneurial activity unless
he starts his own business and releases himself as an employee for the
rest of his life.
– You may start as an employee, get new ideas and develop your own
entrepreneurial style from experience and education. Start dreaming and
be independent.
– Learn to save money and be sure to put it in proper investment then make
it as starting capital to operate your enterprise.
– Make the money work for you as you think to make it grow bigger from the
dreams one have crafted out of your imagination for success.
• Explore the Business environment
– Find the things you can do best and you must have the talent
and interest in doing it. Remember that the central objective of
any business is to produce the best goods and those that
provide better service.
– With the talent you acquired in conducting feasibility studies in
your college days or those that you learned from experience,
apply your knowledge in SWOT analysis.
– Consider opportunities for expansion as business growth is
possible under good management.
• Be in control
- The entrepreneur must be in the driver seat of his business. You cannot trust
your business to somebody who does not own the ideals and aspiration of the
enterprise.
- Be in control of the operation as you develop people whom you can work with
dedication and with values the same as yours.
- Invest your time with people who are achievers and do not lose your valuable
time with losers.
-Motivate people to excel and make their desire burning for success with their
accomplishments. Make them partners in decision making and develop their
ego needs for proper recognition.
People are your assets that can help you propel success in your business.
Think that improving efficiency and effectiveness will create more space for
growth and development.
• Have a Good Accountant or a Trusted Financial Adviser
– a good accountant or financial adviser is needed to help you
out in the financial activities of the enterprise.
– They can help you re-invest your money to other profitable
operation.
– While trust and confidence can be given, you must also have
the knowledge of the entry in financial statements.
– Develop control procedures that you are still in command in
approving transaction involving money and its disbursements.
– While you economize your expenditure, be sure that every
peso is spent wisely without sacrificing quality in products or
service.
• Seek the Advice of Professionals
– Seek the services of a legal consultant on matters with legal implications.
– Have your income tax prepared by good accountant lawyers or certified
accountants that know how to deal with government regulating body in
terms of tax payments.
ENTREPRENEURIAL MANAGEMENT DEMAND
• Many successful entrepreneurs in the Philippines and those in the foreign countries are not
the making of known schools of management.
• Most entrepreneurs came from scratch and have acquired managerial expertise in making
business empires through shared hard work and dedication.
• They possess characteristics and intelligence to make things happen rather than wait for
things to happen.
• The demands for entrepreneurial success are common in most successful businessman.
• The individual talent and intelligence coupled with strategies akin to other people are totally
inherent to the entrepreneur.
1. The entrepreneur is Alert to opportunities and Perceptive to make
things happen.

• The entrepreneur looks at things much ahead of other

people. He sees things in different way and develops
strategies to make things happen the way he perceived it
to be. An entrepreneur is a starter but makes sure that
what he started, he pursues until he succeeds in making it
happen.
2. The Entrepreneur has the Health and Endurance to Work
Long Hours.
• The dreamer entrepreneur could not stop working until he
finds solution to his perceived idea. He spends 75 percent
of his 24 hours time thinking and working until he gets to
the realization of his of dream. He is willing to sacrifice
personal pleasure in his quest for the true meaning of his
ideal set up of the business enterprise.
3. The Entrepreneur of Flexible and Adapts to
Change.
• The entrepreneur does not have a one track mind. He
finds new avenue or courses of action as he senses some
danger zone with his plans and programs. He makes
easy revision but he makes sure that the track on hand is
still towards the direction he wanted to achieve. He crafts
new alternatives solutions and devises ways to make a
difference.
4. The Entrepreneur is Self-Assured.
• The entrepreneur could not easily be rattled with
problems or uncertainties. He has great trust in his
capability to develop new things. His intelligence and self
confidence is always at high level. He is guided also by
his faith in God that his good intentions and actions
deserve to be fulfilled.
5. The Entrepreneur Seeks Other's Opinion or Make
Researches.
• He believes that a person who asks question could only
be fool for a minute but one who ask no question could be
fool for a lifetime. He seeks the advice of other
professionals that will help make things happen. He
indulges in research activities to find new solutions.
PROFILE OF A SUCCESSFUL ENTREPRENEUR

• Successful people in the field of business are creators of things

with difference.
• They are no ordinary Juan Dela Cruz who we can be seen around
the corner.
• They are people with great ambition and are alert to the
environment that they can explore towards successful venture.
• They possess eagle's eye that can see and dive hundreds of feet
down and make catch the prey of opportunities.
Most successful entrepreneurs are described to
possess the following profile:
• The Entrepreneur has Strong Desire for Independence.
• The Entrepreneur Develops Strong Drive to Succeed.
• The Entrepreneur has Strong Determination in Decision
Making.
• The Entrepreneur Develops Feedback Mechanism for
Results.
• The Entrepreneur is a Results-Driven Individual.
The Entrepreneur has Strong Desire for Independence.
• An entrepreneur would not like to be attached to his
employment. He seeks independence and strives to
develop his own business.
• he acquires new insights and opportunities
• he would seek that sense of independence.
• He thinks differently and would venture in trying to satisfy
his own curiosity.
• . He assumes responsibility with pride and determination.
The Entrepreneur Develops Strong Drive to Succeed.
• Success is for people with the profound need to achieve
their dreams and life aspiration. Achievements are the
ego of people with the inner desire for independence.
• He does not depend on others as he thinks that his
success lies on his own making.
• He is a good organizer and leads others to successful
venture.
• He finishes things he started and leaves no stone
unturned to get his way.
The Entrepreneur has Strong Determination in Decision
Making.
• The strong personality of the entrepreneur carries with it
the power to make decisions.
• He is aware of developing new markets and creates new
things to satisfy customers' needs and wants.
• He capitalizes on his inner drive to make profit before
anyone else could take that opportunity.
• Innovativeness and creativity go with the power to make
decisions.
The Entrepreneur Develops Feedback Mechanism for
Results.

• He goes back to where he started and finds out things the

way they are.
• He believes that one who does not look back cannot go
miles away from his starting point.
• Feedbacks are factors for analysis and decision making.
He needs data and figures to make wise decisions.
The Entrepreneur is a Results-Driven Individual.

• Profits the result of accomplishment.

• His achievements are the driving force that keeps him
awake for more opportunities.
• He expects results for activities he planned. Employees
with mediocre abilities and low sense of feeling for
accomplishment have no place in his organization.
• He expects results to be on time and with highest quality.
• He is impatient for poor performance and expects quality
output.
MANAGERIAL SKILLS THAT MAKES A SUCCESSFUL
ENTREPRENEUR

– Being hardworking and industrious are no guarantee in

the making of business activities while they play an
important role in the success of the enterprise. While
many successful entrepreneurs have not gone to
business schools to acquire managerial theories in the
management of the enterprise, they have developed
managerial skills through share observation, or an
inherent leadership ability and intelligence.
The Entrepreneur has the following managerial skills:
• 1. The Ability to Plan and Conceptualize.
• 2. The Ability to Organize the Resources of the
Enterprise.
• 3. The Ability to Direct and Motivate People in his
Organization.
• 4. The Ability to Control.
• 5. The Ability to Manage Time.
• 6. The Ability to Adapt to the Changing Environment of
Business.
1. The Ability to Plan and Conceptualize.
• Conceptualization and planning go together.
• Good concepts need to be put in the planning table to avoid the
risk factor.
• The entrepreneur is able to forecast the future by seeing to it that
the risks involve are properly controlled.
• He must be able to visualize the direction of the business towards
successful takeoff. The take off point of any business is the
generation of profit based on plans and programs.
• He must see that the products or service, the pricing strategies,
the cost of production, and the inventory will generate reasonable
profit and return of investment.
2. The Ability to Organize the Resources of the Enterprise.

• A good business organization is based on around people and

resources.
• An entrepreneur works with others and needs people with the
same values and working ability.
• Efficiency and effectiveness in the work arena are the working of
people with dedication and talent to do the job properly.
• The material and physical resources must be put in place.
• Waste of time and money has no place in a good organization.
• The entrepreneur must be able to give specific direction and work
activities that will redound to efficient delivery of the necessary
services to customers and clients.
3. The Ability to Direct and Motivate People in his Organization.
• People are like machines that need oil that will make them work
smoothly and efficiently and effectively.
• Machines will bug down if no oil is put into its chamber while in
operation.
• The same principles work with people.
• They need proper compensation and motivation for them to
deliver the necessary output.
• The entrepreneur must be able to communicate ideas and plans
to his subordinates with sense of humility.
• Good communications and human relations will drive people to be
motivated to perform their task with pride.
4. The Ability to Control.
• Controlling the whole operation is a difficult task for the entrepreneur.
• Safeguards and control mechanism could put in place with carefully crafted
policies and procedures.
• Such policies and procedures must be carefully disseminated and
understood by all who will implement them.
• In the implementation stage, check valves through monitoring and feedbacks
mechanism must be worked out through reports and at times conference with
key people.
• The progress of operation and other activities related to finance and
marketing must generate the necessary reports as bases for more plans and
actions.Controlling cost and none essential expenses will save important
profit that could be invested in profitable operation
5. The Ability to Manage Time.
• Time Management is a very essential ingredient to the success of an
entrepreneur. Because of the numerous activities to attend to the
entrepreneur must be able to log on his time schedule so that important
activities could be attended to on time.
• Meetings and Conferences occupy most of the time of entrepreneurs. They
must be scheduled properly that they will not complicate with important paper
works in the office.
• Some entrepreneurs who burn themselves out with stress die early and do
not see the fruits of their labor.
• They must have schedule for his family, his religion and enjoy some personal
pleasure that will eliminate the stressful task of managing his business.
6. The Ability to Adapt to the Changing Environment of Business.
• The new entrepreneur must be able to adapt to this changes in the business landscape for
him to go with the time of progress and expansion.
• Consumers tastes and preferences are gradually changing to better quality products and
services.
• Competition is shifting to more affordable quality products and entrepreneur must be aware
of this changing customer demand.
• Changes are applicable and adaptability should be given attention to gain continuous
customer patronage.
• An entrepreneur without formal training should attend seminars and advance schooling to
get further into the realms of better management theories that will help in the operation of the
enterprise.
• Learning is not the sole property of those in school. Reading and attending various
management interventions would make a great difference.