sr: john l. gokongwei jr. the path of entrepreneurship by marites khanser

John L. Gokongwei Jr.The Path of Entrepreneurship

by Marites A. Khanser

Special ReportMadz C. Herrera

John L. Gokongwei Jr.’s great-grand father, Go Bon Tiao (Pedro Gotiaoco) was born in the farming village of Fujian Province, China in 1856.

In 1870, his grand father migrated to the Philippines and established a trading company in Cebu

They bought a shipping company, Insular Navigation and also went into insurance business

John Gokongwei Jr. Biography

ANCESTRAL ROOTS

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THE EARLY YEARS: 1927-1940


John Gokongwei at four with his younger brother Henry, and their parents John Sr. and Juanita. Circa 1930

John Gokongwei Jr. was born on August 11, 1926 in Gulangyu, Xiamen, in Fujian Province , China. His parents are Juanita Marquez Lim and John Gokongwei Sr. He’s the eldest among six children.

For his first thirteen years, he lived a life of privilege. He lived in a big house and studied in the best school in Cebu.


THE EARLY YEARS: 1927-1940

His father, John Gokongwei Sr, did not work in their family business. Instead, he built movie houses and became the owner of one of the largest movie houses in Cebu.

In 1939, his father died after receiving the wrong blood type during a blood transfusion. Their creditors started to take their house and, movie houses which left them with no property.

When his father died, he was sent to his granduncle, Manuel Gotianuy, who was then the Chinese Consul in Cebu.


THE BICYCLE AGE: 1941 - 1942

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It was a bicycle that launched the entrepreneurial career of John Gokongwei Jr. at the age of fifteen. He pedaled his bike to neighboring towns to sell soap, thread and candles.

According to John Gokongwei Jr., during those years “I rode my bicycle to SURVIVE”

He saw business opportunities during the war instead of problems and difficulties


THE BATEL AGE: 1943 - 1945 “After two years of biking and

peddling, at seventeen, I entered my batel age. The batel was a small, a very utilitarian boat that defied the open sea and would take me further from Cebu, and all the way to Lucena, from where I would take a truck to Manila with companions twice or thrice of my age” – John Gokongwei Jr. www.amazing-coloring-pages.blogspot.coms


THE TRADING AGE: 1945- 1955 John Gokongwei Jr. saw an opportunity in import trading. He set up his first company, American-Asia Trading. The major business was to import fruits, milk, flour, onions, old newspapers, magazines, used clothing, and other remnants from the US. www. forex143-almavi.blogspot.com


THE MANUFACTURING AGE: 1956- In 1956, Philippine President, Elpidio Quirino Jr. changed the economic policy of the country. He increased tariffs and imposed import controls on goods to encourage local businesses. With this, John Gokongwei Jr. decided to manufacture cornstarch. From it, the Universal Robina Corporation was born.

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THE AGE OF BRANDS: 1960s

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THE AGE OF DOMESTIC EXPANSION: 1970 – 1999COMPANIES THAT GOKONGWEI

BUILTCOMPANIES THAT GOKONGWEI

ACQUIRED

FOOD: The Universal Robina Corporation TEXTILE: Litton Mills

RETAIL: Robinsons Retail GroupPOWER GENERATION: First Philippine Power Corporation and Toledo Power Corp.

PROPERTY AND HOTEL MANAGEMENT: Robinsons Land Corporation

TELECOMMUNICATIONS: Digital Telecommunications Philippines, Inc.

PETROCHEMICALS: JG Summit Petrochemical Corporation AVIATION: Cebu Pacific AirFINANCIAL SERVICES: Capital and Financial Services Group BANKING: FEBTC and PCI


THE AGE OF GLOBALIZATION: 2000s John Gokongwei Jr. wanted the Universal Robina

Corporation to be a truly Philippine-based multinational company.

From 2000 to 2004, the Universal Robina Corporation International Group expanded its markets in Thailand, Indonesia, Malaysia, China, Singapore, Hong Kong and Vietnam.

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The Path of Entrepreneurship

·“The path to entrepreneurship begins with where the individual finds himself in”. –M. Khanser

·“A true entrepreneur starts with a deep understanding of himself, develop the skills to lead others, and creates strategies that will help his organization prosper in an increasingly uncertain environment.” – M. Khanser

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The Entrepreneurial Personalityof John L. Gokongwei Jr.

VALUES

¨ LEADERSHIP¨ CONFUCIAN VALUES¨ OPTIMISM¨ ROLE MODELS¨ HARD WORK¨ FRUGALITY¨ EDUCATION

The Entrepreneurial Personalityof John L. Gokongwei Jr.

PERSONALITY ¨ WILLINGNESS TO TAKE RISKS

¨ CREATIVITY AND INNOVATIVENESS¨ CHALLENGING THE STATUS QUO¨ CREATIVE IMITATION AND BORROWING IDEAS¨ RECOGNIZING WHAT IS ESSENTIAL

The Entrepreneurial Leadershipof John L. Gokongwei Jr.

¨ DEVELOPING A SHARED VISION

¨ HOLDING PEOPLE RESPONSIBLE AND REWARDING PERFORMANCE

¨CREATING NEW BUSINESS

¨MAKING DEALS

The Nine Rules for Business Success of John L. Gokongwei Jr.

1. Change is inevitable and flexibility is the key. 2. Personal stakes in the company encourage everyone to work hard.

3. Mistakes and disappointments are inevitable.

4. Good brand building equals reputation.

The Nine Rules for Business Success of John L. Gokongwei Jr.

5. Family support is crucial.

6. Never lose sleep thinking of business risks.

7. Pausing to recharge brings new vigor.

8. Reading and traveling enriches one’s mind.

9. Philanthropy is a personal satisfaction.

Corporate Social Responsibility

“Life has been good to me, and I want to give back the blessings I have received” – John Gokongwei Jr.

ÖThe Gokongwei Brothers FoundationÖ The GBF Technical Training CenterÖ The Children’s LibraryÖ Other GBF Donations •donated land to church institutions •support six to eight university scholars •donate part of his shareholdings in JG Summit to the GBF

Khanser, M. (2007). John L. Gokongwei Jr. The Path of Entrepreneurship. Quezon City: The Loyola Schools Ateneo de Manila UniversityGokongwei, J. (2002) .Speech delivered last March 1, 2002 during the launch of the Ateneo de Manila

University John Gokongwei School of Management Retrieved May 28, 2011 http://www.jgsummit.com.ph/speech-jgkw-ateneo-som- 0020301.html

PICTURE AND IMAGES http://www.philstar.com http://www.americanchronicle.com http://www.donser.com http://www.amazing-coloring-pages.blogspot.coms http://www.forex143-almavi.blogspot.com http://www.businesstoday.nfo.ph http://www.susanroces.blogspot.com http://www.clickrmedia.com http://www.happymart.yummyparadise.comp:// http://www.littlejoyofbeary.blogspot.com http://www.woinvestments.com

SOURCES



http://www.americanchronicle.com/

http://www.donser.com/

http://www.amazing-coloring-pages.blogspot.coms/

http://www.forex143-almavi.blogspot.com/

http://www.businesstoday.nfo.ph/

http://www.susanroces.blogspot.com/

http://www.susanroces.blogspot.com/

http://www.clickrmedia.com/

http://www.clickrmedia.com/

http://www.happymart.yummyparadise.comp/




http://www.littlejoyofbeary.blogspot.com/

http://www.woinvestments.com/

