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“Tony Tan Caktiong, The successful entrepreneur”

Entrepreneur is a person who organize operates a business, taking on greater than normal financial risks in order to do, Entrepreneur is a general term or shall we say a professional term for the person or people that handles a big business. 

First of all I choose Tony Tan Caktiong as an example because I want to support local business from our country and jollibee is my favorite go to food. Jollibee was all over the world. without the unending monitoring of the owner it won’t be turned as a successful business. But because of his traits, He managed to handle his business properly.

Tony Tan Caktiong 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. Jollibee instantly became a household name in the Philippines due to its delicious products and quality services it provides its customers. Tony has since then built Jollibee Foods Corporation into a multi-branded restaurant company with dominant market share leadership in the Philippines and rapidly growing businesses in 12 foreign countries in Asia, North America and the Middle East, and is continuously expanding its presence globally. 

 Jollibee was founded in 1975 as a two-branch ice cream parlor, which later expanded its menu to include hot sandwiches and other meals. The size, geographic expanse and breadth of the company’s operations have grown exponentially — from a handful of Jollibee stores 26 years ago to 1,185 stores in 9 countries at the end of 2004. The prestigious Far Eastern Economic Review has cited Jollibee as The Most Admired Company in the Philippines for the past six years.

Tony holds a Bachelor of Science degree in Chemical Engineering from the University of Santo Tomas. Tony also attended various management programs such as the Top Management Program of the Asian Institute of Management and Harvard University’s Owner/President Management Program. He holds an honorary degree of Doctor of Humanities from Southwestern University and St. Paul University, and an honorary degree of Doctor of Science in Business Management from Far Eastern University in the Philippines. The fast food giant’s main man is known by many to be a very humble person, someone who always listens to the needs of the company’s employees, customers and stakeholders. For Tony, he believes that true success is achieved by sharing it with the people he works with and to the millions of customers Jollibee Foods Corporation serves every day. Tony said, “If you take care of your people, they will take care of you.”

He was born as the third child among seven siblings, He was actually born in china but immigrated to the Philippines in hope of their better life, Helped each other , They started to establish their first food chain in Davao.

At the age of 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. They realized that their business became more and more successful, they started to hire many people to help them manage. 

Two years later, He decided to serve hamburgers, Fried Chicken and spaghetti and people began to tell them that they don’t want ice cream all the time, so they decided to rebrand and change their name to “Jollibee” as it represents them as company and the people that they can cater to hard working and happy and happy. 

As of 2016, Tony Tan Caktiong ranked 6th in forbes ‘Philippine’ 50 Richest and was awarded as the “ Entrepreneur of the Year” and “ The Ernst and Young Entrepreneur of the Year” in 2004

Caktiong is considered the opportunity seeker behind every child’s fast food craving, Jollibee.

Caktiong is a risk taker he has learnt to take it as a part and parcel of following his passion and dream. He spoke about the early days of Jollibee, when it was founded in 1975 and the key decisions they made that made them a food giant now.  

"Those early days were not easy. We faced many challenges and took many risks. In taking these risks there were times we lost money due to the mistake we made. But during those challenges I continued to have high hopes and optimism that anything is possible."

I think I pick up this belief from my mom. Our role is to do what we can as best we can and don’t worry about the outcome. The outcome will take care of itself. This belief has allowed me to sleep well at night. It gives me new hope everyday,” said Caktiong.

Caktiong conclude that the main thing is to dream, Dream big and not be afraid of it

“It was not an easy change. Just as Jollibee started growing, we found out that the world's biggest hamburger chain [MacDonald’s] was about to enter the Philippines. Many friends told me to sell out.

"The mindset was, 'How could a small Filipino company with only 5 stores take on a big multinational company in a business they practically invented?' This was a moment of truth for us. A moment that directly tested my hope and ambition

He outlined over and over again the importance of mindset and optimism in making a business is to succeed.

If I had no hope, I would have sold out the business right then and I would not be standing in front you of today, I might just be flipping burgers for you-know-who,” said Caktiong, referring to McDonalds.

Caktiong’s role is to do the best that they can and don’t worry about the outcome.

“Dreams are free. Why limit what you are aspiring for? But dreaming is not enough. One needs to put in enough energy and input. If you dream big and put your dreams into action you will indefinitely make mistakes.

"But 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

https://enterpriseasia.org/apea/philippines/awards/ph-2015/tony-tan-caktiong/#:~:text=Tony%20Tan%20Caktiong%20is%20the,and%20created%20Jollibee%20in%201978.&text=JFC%20also%20has%20a%2050,Pho%2024%20and%2012%20Sabu.

https://www.youtube.com/watch?v=adpVhJbR2hk