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Socorro Ramos

Socorro Ramos, the matriarch of the National Bookstore, has gone from becoming a saleslady to being a multimillionaire. Her story demonstrates that in order to be successful, one must be tough and a fighter.

Socorro Ramos, also known as Nanay Coring, is a 92-year-old entrepreneur who was born in the rural community of Sta. Cruz, Laguna, on September 23, 1923. Nanay Coring is the founder and general manager of National Book Store, the nation's largest retailer of school supplies, academic, and other forms of books, as well as everything else. Socorro began working as a saleslady in a branch of Goodwill Bookstore operated by his brother Manuel in Escolta, Manila, when she was about 18 years old. The older brother was so impressed with Maria's abilities that he gave her complete control of the company. In the same store that is where she met his husband Jose Ramos, who happens to Manuel’s brother-in-law. Nanay Coring’s parents was against to their relationship because she was just 18 years old at that time, but no one can stop their love for each other, even though there will be consequences. At that year nanay coring and her husband decided to get married, the parents of nanay coring did not even talk to her for quite some time but it changed when nanay coring gave birth to her twin babies Alfredo and Benjamin in 1940. In the  same year the married couple decided to open their own store. The married couple began selling books, GI novels, and other supplies. Socorro came up with the name after seeing the word "National" stamped on cash registers, which is a fitting name for a store that is known for offering textbooks, novels, and other school and office supplies to Filipinos.

Nanay Coring gave some tips on how to be successful in business and in life to encourage more entrepreneurs to pursue their dreams:

1.  Know what you want to do and believe in yourself. If you want to be a salesman, make sure you are the best salesman you could possibly be.

This has a trait of Committed and Goal-Setter. Doing your best as part of an entrepreneurs is good, especially if you have a good ability to handle a business. You had to have a full interest in what you want to be to be able become successful. 

2.  Find out what your customers want. Ask them. Ask around. Sell them what they want.

3.   Make sure every customer feels important. Be humble and always be willing to serve them.

This two has a trait of Committed and Information-Seeker.  Because you have to accept the full responsibilty for what you’ve been promised to your customers. As an entrepreneur you also need to seek some informations on what the customers want, what they need.

4.  Work hard, very hard. There is no express elevator to success — you have to climb the stairs

5.  If you have the love and passion for what you do, hard work will not be a sacrifice, but a joy!

This has a trait of being a Goal-Setter  and Self-Confident. To be able to be success you need to have a goal and work really hard for it. In order to become successful you need to have a confident that you can work really hard and become a successful entrepreneur.

6.  There will always be hard times. There will always be failures. If you fall down, get back up. Never give up.

This has a trait of being a Persistent Entrepreneur. You can’t really escape that being an entrepreneur there will be hard times. But that doesn’t mean you need to stop being an entrepreneur. You need to be persistent in order to be successful because after the rain there will be rainbow.

Source of the interview :  https://ph.news.yahoo.com/blogs/the-inbox/12-business-success-tips-nanay-coring-214452711.html

https://www.youtube.com/watch?v=nhsaGCXvzQk

PIcture Source :  

https://images.app.goo.gl/L6qavB7E9mWcNq3S8

https://images.app.goo.gl/wCygg6nDQS3Los8y7

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THEORIES OF ENTREPRENEURSHIP

These theories that are chosen are somehow made us felt easier to understand and to make an informational words to provide enough information for those who are willing to take a risk or have plans upon joining the entrepreneurship field.

Innovation is the creation, development and implementation of a new product, process or service, with the aim of improving efficiency, effectiveness or competitive advantage. Innovation is not only about thinking a new idea to be implemented but it is also a subject that enables you to invent or make some things that can be useful for the future. These are the things that will either help us for our growing economy. It may be hard to invent some equipments but if you do it with a group that has a potential to make it public or to produce more equipments and the government will approve these inventions and provide some materials needed and to introduce these to all the people who are willing to use your inventions, then there will be a big possibility that the economic development will grow differently not for the negativity but it will grow and give people a lot of positive thoughts. Introducing new innovation to people are actually a hard task especially to the community that are not interested but if you introduce it slowly and let them see a process that you, yourself is using the product that is being invented, there will be a possibility that they will be interested to your innovation.

Years from now, we’ll all be hearing about newly invented technologies that can be useful for the economic growth. The video is related to the theory because as the example given like amazon. In Amazon they are experimenting for a drone delivery. They develop a new echo device which is named “alexa” instead going to amazon.com they can order it by just telling alexa. In the video it also shows the innovations of spotify and tinder.

 Video: https://youtu.be/avWVPaJFgFk

Keynesian theory stated that the government should increase demand to boost growth. Keynesian believes that consumer demand is the primary driving force in an economy. As a result, the theory supports the expansionary fiscal policy. Its main tools are government spending on infrastructure, unemployment benefits, and education. The government should practice a proper handling of financial needs to be able to manage a business properly. The government should also know how to analyze the demands of a business and should know how to balance rates of a certain needs for each developments of government and in that way the government will easily improve. According to the British Economist, John Maynard Keynes, developed this theory in the 1930s,  had defied all prior attempts to end it. President Franklin D. Roosevelt, used Keynesian economics to build his famous New Deal program in his first 100 days in office,  FDR (Frequency Domain Reflectometry) increased the debt by $3 billion to create 15 new agencies and laws. He used his skills by analyzing the demands of his business, balancing the rates of the certain needs for the developments.

           The rates of a certain needs for the developments. The videdo is related to the theory because it shows how to practice about handling financial needs and to manage proper business, it talks about  earning money, efforts and improvements of skills. It is important on how to manage money or to give the best effort in order to earn more money. More effort, more money and the growth of the economy will increase. The growth of the economy also depends on the strategy that the entrepreneur used. The government should also learn different kinds of strategy to be able to have a lot of options in case the growth of the economy will be slowing down. Being able to understand the meaning of learning some strategies will lead you to a good economy.

 Video: https://youtu.be/qC-U76O76X0

For this theory, entrepreneurs or people handling a business should be prepared whatever the result of their hard works. There are times that even if we did our best, we actually sometimes fail, it is either we lack business strategies or it’s just that we lack information. We need to accept and face the failures because in that case, we will be able to learn on how to solve and make ways for a new opportunity. In opening business or innovating a technology, we must be also prepared for the result, it’s either we fail or we can receive success. The reason why other entrepreneurs, some of them haven’t tried to experience failures, it’s not because they have a lot of connections but they are also a street-smart people.

Receiving failures does not mean that you are not capable of making and to continue your small business, but failures also give you a lesson, and that lesson will lead you to a better path or to a better option that will help you grow your business. Taking risk is not very easy at all, it may include political fights but if you know how to handle it properly, you’ll be able to manage it with your own hand. Money is one of the problem when it comes to business, but it does not mean that if you will do an illegal action, if you are really willing to let your business grow, you must take a path, take a risk to communicate, ask for a help or you should work hard for your business to be able to make it public. It’s better to have a lot of communications when it comes to business, because in that way, you’ll be able to share your business but always be careful for people who you trust for your business, you may be able to experience dealing with scammers. We chose to relate this video in this this theory because it shows the different franchisers taking risks and facing some lost profits from their growing business.

 Video: https://youtu.be/duQow41bTx0

We can easily begin with Weber's words: "Socialology is a science which tries to understand social action in terms of interpreting, thus explaining its course and effects." In addition, when action takes other people's actions into account, it is social action and is thus oriented towards it" (Weber, 1947). Fair choices or action theory may be interpreted as the potential understanding of Weber's programme, but one which is very unique is to call upon us to follow the least complicated conception of social action from which we can analytically describe its course and consequences." It thus departs from many post-Weberian (and for that matter pre-Weberian) theoretical traditions-particularly those of phenomenological persuasion-where the aim seems to be to tilt in a completely opposite direction, namely to find ways of conceiving (social) actions that are locally detailed and complex. Why this heterodox stance should be embraced by rational choice theory would hold us down below.

The video below is very relatable into this theory. Tim Cook likes to be reminded of where he came from. He never wasted his money for nothing. Thus, he spend his fortune for helping people for social problems. It could also be a reminder for all part of entrepreneurships that we should all be a good role model because being one of it will always lead you to become a successful entrepreneur.

Video: https://youtu.be/swOtYThF8JQ

Alertness is the basic notion in Kirzner's theory of entrepreneurship. Alertness leads people to make valuable discoveries capable of satisfying human desires. In their alertness to hitherto unnoticed possibilities, the role of entrepreneurs lies. According to Kirzner (1999), Alertness has the ability to bring tremendous value to a business, because it helps entrepreneurs to be aware of changes, shifts, opportunities and overlooked possibilities. Kirzner believes that entrepreneurial alertness cannot be taught. However, this belief has been critiqued because market research and customer discovery can clearly help to recognize certain types of opportunities. But a rebuttal might be that knowing that market research was needed in the first place is entrepreneurial. This video also relates the theory of kirzner’s, it shows how subway was getting more money because of their commercial which many people called a healthy brand. But in 2008 due to the world suffering from recession, subway was alert and introduce new promotion because of that the sales increased in 17%. The entrepreneur was also alert to price differences.

 Video: https://youtu.be/duQow41bTx0