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OPPORTUNITY SEEKER

Shoe Mart is more than just a shopping mall. It's a beloved institution from shopping, watching blockbuster movies, date night, ice skating to food tripping, Shoe Mart has it all. However, this gigantic chain of more than forty-four large-scale shopping centers in the Philippines and throughout Asia has very humble beginnings. Henry came from an impoverished family in Jinjiang, a town near Xiamen, China. The entire family left China in 1936 to help the family patriarch manage a thriving convenience store in Manila, Philippines. Unfortunately for his family, their store was burned down during World War II. However, business-minded Henry saw an opportunity selling used military combat boots and other postwar goods from supportive American soldiers! Henry's success led to the opening of his first shoe store, the SM (Shoe Mart) in Avenida, Manila. He had problems finding shoe manufacturers who could design shoes according to what he had in mind, but he persisted. Henry spoke to customers and built his network of suppliers and manufacturers. That never-say-die attitude got Henry to where he is now: one of the richest men in the world and a world-class commercial center developer who provides opportunities to both entrepreneurs and the working class. Henry Tan Chi Sieng Sy Sr. was a Filipino billionaire businessman in retail. Born in Fujian, he moved with his family to the Philippines at age 12. While his family returned to China, he stayed behind and founded ShoeMart, a small Manila shoe store, in 1958. Henry Sy was not born with a golden spoon, he belongs to a poor family in Quanzhou, China. Sy, migrated to the Philippines when he was twelve and started working for his father's small sari-sari store located in Quiapo, Manila. Sy became involved in the banking industry when he acquired Acme Savings Bank (later renamed Banco de Oro or BDO) in 1967. In November 1972, he opened SM Quiapo, SM's first stand-alone department store, and entrusted his 22-year-old daughter Teresita to run the store. Today, there are seven SM Supermalls in China, including SM City Jinjiang, SM City Chengdu, SM City Suzhou, SM City Chongqing, SM City Zibo, and SM City Tianjin. SM Quiapo (also known as SM Clearance Outlet and SM Carriedo) is the first SM Store that opened in November 1972. The store is owned by Chinese-Filipino billionaire Henry Sy and is currently being managed by the SM Group's foundation, SM Department Store Inc. According to SM's public relations, Seaside is the biggest mall in the Mindanao-Visayas region. SM also said that in terms of total gross floor area, Seaside is the 3rd* biggest mall in the country at 430,000 square meters. MOA, which is at 407,000 square meters, is smaller than Seaside.

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RISK TAKER

Cecilio Kwok Pedro used to head Aluminum Container Inc., which produced the aluminum toothpaste tubes for Procter and Gamble, Philippine Refining Company (now Unilever), and Colgate-Palmolive. However, environmental concerns led Cecilio's clients to shift to plastic-laminated toothpaste tubes. Aluminum Container Inc. failed and closed its shop in '86. Cecilio put up Lamoiyan Corporation and manufactured toothpaste that was priced 50 percent lower than his competitors. These included the still-popular brands Hapee and Kutitap. Although the foreign brands countered by lowering their brands by 20 percent, he responded by introducing toothpaste targeted at children that featured the characters from Sesame Street. His brands have made it to other markets in Asia, such as China, Vietnam, and Indonesia. His greatest accomplishment wasn't limited to manufacturing. Cecilio’s also known for his advocacy to help hearing-impaired people find employment in the country. Cecilio’s programs include free housing for more than thirty deaf-mute staff. To date, more than 180 hearing-impaired students have received college education through Deaf Evangelistic Alliance Foundation (DEAF). Cecilio K. Pedro is another Filipino businessman of Chinese descent but his story is not the typical rags-to-riches tale but about turning adversity into triumph. He earned his business management degree at the Ateneo de Manila University, one of the more prestigious private schools in the Philippines. Even though he failed he didn't stop at that point but instead he risked another move to achieve success. Cecilio exhibits creativity in his entrepreneurship through one of his strategies in which his brand creates toothpaste that targets a new target market of children through colorful tubing and character designs. Cecilio Kwok Pedro is an entrepreneur who made it to the top after his failure back in 1985. His principle is much grounded and to quote this man of humility, he once said, "We are competing against the giants. Without faith and the intervention of the divine, it is really difficult to survive in this industry." The founder of Hapee toothpaste in the Philippines, making his company, Lamoiyan Corp., the country’s first homegrown toothpaste name. He is married with one son, Joel, who is now also part of the said company. His son is a marketing graduate from De La Salle University. A Christian since birth, his values extend to people whom he helped fulfill their dreams. He chairs this foundation and established schools in Laguna, Nueva Ecija, and Palawan and 13 community centers all over the country. He also supports an NGO – Kaisa Para sa Kaunlaran which helps produce a television show for children. Pedro became one of the first Filipinos who become successful in the exporting industry. His Chinese surname, Kwok means "to give" which is truly an exact description of this man. He started doing business at an early age, compared to other boys his age, Pedro tried and jumped into buying and selling ball pens in grade school even if the results were not good.

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GOAL SETTER

Socorro Ramos' resilience is clear to see and her will to overcome adversity has continued to inspire many. In 2005, she was even named Ernst and Young's Philippine Entrepreneur of the Year. She has worked her way up from being a mere sales girl to becoming one of the most successful entrepreneurs in the country. The girl’s brother marries the scion of a wealthy bookstore owner in Manila. The girl finds a job as a saleslady at 18-years old, meets and falls in love with the son of the owner; thus, he's technically her in-law! Their parents forbid the relationship and sends her back to the province. However, this boy and girl's love is so strong, they stand up to their parents, get married, and have twins. He takes over a branch with the girl, and they renamed it in National Book Store. However, a war breaks out, and the store is destroyed! They rebuild the store, but everything is held under suspicion of being “questionable.” They relocate the store in Avenida, but as the business picks up, a storm destroys their roof. Soon, they rebuild the store, and every centavo is used to build a 9-story National Book Store. She is Socorro and the boy is Jose. Today, National Bookstore has grown to over a hundred stores. Despite digital technology, it continues to flourish! With all her awards and wealth, Socorro Ramos stays humble and credits her success to values. She constantly monitors the business landscape. She says there's always something new to learn; successful business people must remember this and keep their minds open. Ramos is known more as Nanay Coring, founder and general manager of National Book Store, the leading retailer of school supplies, academic and various kinds of books, and everything in between. "I think it's everybody's purpose to achieve more," said the NBS matriarch. She is definitely one of the goal-setter entrepreneurs despite her shortcomings. After 70 years of running the business, Coring can really say that persistence is one of the most important keys to achieving great things. After the wedding, Nanay took the knowledge she had gained from her work with her brother's bookstore and the couple opened their very first store—a small shop at the foot of the Escolta Bridge. They didn't know what to call it, so they named it after the brand of their cash register. In 1948, Typhoon Gene came to the Philippines destroying dozens of homes and properties, including the Ramos’. Their house and shop were taken down and all the goods were destroyed after the typhoon. But this did not bring them down. They worked harder, slept only three hours a day spending the rest of their time rebuilding the business. Eventually, through will and determination, the Ramos couple was able to build a two-story building complete with a mezzanine that would become their store for many years. After more than a decade, Ramos acquired a nine-story building along Avenida Rizal, and in 1963, the construction of the Albecer Building (taken from Ramos’ three children – Alfredo, Benjamin, and Cecilia) started. Little did the Ramos couple know that the Albecer Building would be the first of many buildings they would build. Socorro Ramos now has over 2,500 employees in over 80 branches of her once-small stall. From a humble beginning, Ramos’ National Book Store became the Philippines’ largest chain of bookstores.

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INFORMATION SEEKER

In 1975, Tony Tan bought a Magnolia ice cream parlor. However, it wasn't generating enough business. After talking with his customers and people within the neighborhood, Tony Tan decided to include sandwiches, fried chicken, and French fries on the menu. In time, the restaurant found itself packed to overflowing capacity. By 1978, Tony Tan had opened 6-more restaurants, but the main item was no longer ice cream. He then decided to adapt the McDonald’s concept and named his franchise after his work ethic of being as “busy as a bee.” Today Jollibee has grown to more than 2,500 stores in the Philippines plus locations in the United States, China, Vietnam, Saudi Arabia, Brunei, and Singapore. Realizing that he needed a brand name and logo for his new business, Mr. Caktiong and his family decided on using a smiling red bee. They chose a bee because of its association with hard work, and because honey represents the sweet things in life. The “jolly” prefix was intended to connote happiness and enjoyment. Tony Tan Caktiong's entrepreneurial story is a heartwarming one of perseverance, humility, Filipino pride, and a big, red jolly bee. Caktiong is considered the visionary behind every child's fast food craving, Jollibee. But mostly, he is one of the information seeker entrepreneurs for asking his neighborhood what he can add to his menu. Tony Tan Caktiong, the visionary behind every child's fast food craving, Jollibee, shared that mistakes are inevitably part of the process to achieve "big dreams." "If you dream big and put your dreams into action you will inevitably make mistakes. But don't be scared to make mistakes. In his interview on ANC, you can see how much he learns with his fellow delegates and how he grow as an entrepreneur. Tony Tan Caktiong, President of Jollibee Foods Corporation, won the title of World Entrepreneur Of The Year in 2004. 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 Tan Caktiong is the Founder of Jollibee, one of the biggest fast-food chains in the Philippines. He owns approximately 1500 stores all over the world that include the Red Ribbon, Greenwich, Mang Inasal, Manong Pepe's, Tita Frita Uling Uling, Chowking. Tan was born on January 5, 1953, in a family of Chinese immigrants, originally from Fujian. He did his high school at Chiang Kai Shek College. Tan has a degree in chemical engineering from the University of Santo Tomas. Tan was involved in the family restaurant business from an early age.

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SELF- CONFIDENCE

Thomas Edison is a great example of an entrepreneur with unshakeable confidence. The inventor of the light bulb failed numerous times before being successful and is quoted to have said: “I have not failed, the 1910 biography and the 1921 magazine interview provide solid evidence that Edison did remark this type. He developed many devices in fields such as electric power generation, mass communication, sound recording, and motion pictures. Thomas Alva Edison exerted a tremendous influence on modern life, contributing inventions such as the incandescent light bulb, the phonograph, and the motion picture camera, as well as improving the telegraph and the telephone. In his 84 years, Thomas Edison acquired a record number of 1,093 patents (singly or jointly) and was the driving force behind such innovations as the phonograph, the incandescent light bulb, and one of the earliest motion picture cameras. Thomas Edison's teachers said he was too stupid to learn anything.10,000 Ways That Won't Work. “I have not failed. I've just found 10,000 ways that won't work.” He was fired from his first two jobs for being "non-productive." As an inventor, Edison made 1,000 unsuccessful attempts at inventing the light bulb. When a reporter asked, "How did it feel to fail 1,000 times?" “I have not failed. I've just found 10,000 ways that won't work.” "Great success is built on failure, frustration, even catastrophe." Albert Einstein did not speak until he was 4-years-old and did not read until he was 7. One of his famous sayings, “Genius is 1 percent inspiration and 99 percent perspiration,” stresses that innovation involves more than just great ideas. Edison knew from his own experience that the systematic hard work of trial-and-error experimentation paid off. He was one of the first inventors to apply the principles of organized science and teamwork to the process of invention, working with many researchers and employees. Edison was raised in the American Midwest; early in his career, he worked as a telegraph operator, which inspired some of his earliest inventions. Edison was taught reading, writing, and arithmetic by his mother who used to be a school teacher. He attended school for only a few months. However, one biographer described him as a very curious child who learned most things by reading on his own. As he was completely deaf in one ear and barely hearing in the other, it is alleged that Edison would listen to a music player or piano by clamping his teeth into the wood to absorb the sound waves into his skull. As he got older, Edison believed his hearing loss allowed him to avoid distraction and concentrate more easily on his work. Modern-day historians and medical professionals have suggested he may have had ADHD.

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The video explains that a person who starts his own business and starts taking the risk of his business also trying to convince some people to form an entrepreneurial team and hoping he can build the right team and create a synergy where the group can achieve more together than they can apart. He hopes that his entrepreneurial would be successful and will pay off such as known entrepreneurs. Different important characteristics help an entrepreneur to succeed it includes Risk-taking, you should be ready for whatever may happen and don't expect too much for this because there's a lot of problems that you're expecting it needs successful plans in your business to be successful entrepreneurs.

Creativity in entrepreneurship is important because it shows how smart you are to make your product or making a new product that no one has ever made that you can build a new product in your unique way. The initiative is required in entrepreneurship so that you will know the service or goal in your business. Independence being independent in a business is important because not all the time you're depending on anyone and you can stand on your own so that you will learn how to manage your business on your own. Problem-solving skills encounter problems in business as an entrepreneur you know how to solve the problems on your own on how to manage your business how to manage your employees you need to identify what are the lacking that is needed in your business to solve it.

Organizational skills are needed running your own business is complicated and it gives more time without organization your business would fall and the unexpected situation may happen. and Communication is important in entrepreneurship as an entrepreneur you have to communicate with your employees, business partners, and customers it needs teamwork as well so that you would come up with a successful business. The important in entrepreneurship is you have to know these different important characteristics in an entrepreneur without these characteristics you will not be able to manage your business well and your business getting bankrupt. You need technical strategies how to run your business like in the video risk and uncertainty are everywhere without that circumstances there's no improvement and progress in your business.

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The gap-filling theory, as defined by Leinbenstein, is how to close the existing gap between the human and the product, as well as how to recognize market trends for your business to fit into the business world and how to increase sales by closing this gap, as well as how to improve the market flow of information. Knowing the gap between people and what they need and want, and how would you come up with an idea to fill those things that the consumers demand that is also accessible to everyone, you may fill in the gap and help the business grow and succeed. and the video that we found is the same on how to fill in the gap, and this is the gap-filling method it gives strategies on how to fill in the gap in your previous day's sale that went down, and how to determine if your sale is going down or up.

The Gap Fill method is thoroughly detailed in the video. The gap-fill is the price retracement and closing of the level where the gap begins. The closure rate (gap-fill) for up gaps increases if the previous day's open to close price sale was also up. The closure rate (gap-fill) for down gaps increases if the previous day's open to close the sale was downward. So, with the Gap-fill technique, there's a stock that's moving in a range, and when it opens a gap down on a given day, it puts downward pressure on the price, leading it to drop. The Gap-fill approach predicts that the sale will rise to the level where it fell and then fill the gap once it starts going higher and crosses above the highest point. The video provided is supported by Leibenstein's Gap-Filling Theory since it is all about how the Gap-Filling strategy works in the stock market but has the same goals in gap-filling in entrepreneurship.

The most important aspect of entrepreneurship is to spot market trends so that your business does not fall behind the trends that are particularly striking in the marketplaces. Knowing how the gap-filling strategy works will allow you to determine if you have successfully identified market trends and people's demands by describing how it works. Similarly to the video, in order for the stock or sale to move up, you must first fill in the gap from the previous day before deciding whether or not to invest. It's the same in business because both require a very thorough examination of the market's products and services, as well as the competition, before making a decision. In entrepreneurship, you must develop ideas on how to fill in the existing gap by recognizing market trends, whereas in the stock market, you must fill in the gap from the previous day for you to know that if the stock goes up, you have filled the existing gap and can invest, and if it goes down, you must not invest. The point here in the gap-filling strategy is to know if your sales are going up or down because that will determine if you really fill in the gap. It will also tell you if your ideas and time-wasting from your product are worth it and successful. The same goes for stock tech and whether it is worth investing in or not.

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Kaldor's Technological Theory technology is required to improve a firm. Technology helps in increasing productivity, lowering operational expenses also removing numerous repetitive duties. Companies are constantly pushing the boundaries as consumers seek higher product quality. Customers are getting a whole new experience thanks to new technological breakthroughs in these devices. These types of developments keeps the customers coming back.

In the video, Technology plays a significant role in economic development. There is also a reciprocal relationship between the owner and consumer. Faster technological advancement is enabled by increased economic growth. Businesses can increase efficiency and productivity by using appropriate technology to generate new goods and improve the quality of the existing ones. A firm that wants to compete locally and worldwide must use the appropriate technology. With the right application, the business has a better chance of succeeding. In Hi-Tech Robotics they do some tests or experiments about the product before they release the product to see where the needed parts to improve and to adjust. In IT advancements of the technology are far beyond, the communication delays they have reduced, the supplier and customers make it easier to make interactions and connect over great distances.

Technology has been a great help in our economy it helps us meet our goals and provide the people with great services that they want. But it doesn’t mean that people are not needed already it still needs supervision but it makes our work easier and faster. It helps us perform impossible tasks. Just like we cannot fly without an airplane but an airplane still needs people to operate therefore people don’t need to worry about these innovations. Instead, we must be grateful for all new things because it is a great help for us not only for ourselves but for the better of the world.

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Keynes believed that government has in its power to solve some of the greatest I'll of capitalism. He refused to believe in communism, or in the utter wisdom of the unfettered free market. Instead- he occupied the middle market believing that the government could, with the judicious injection of money. He believes that what chiefly holds back countries is "corruption, knee-jerks, and short-sightedness". Keynes says that the real problem of unemployment is a Lock of Demand. Here's a sample; if interest rates were reduced this should encourage savers to invest their money, providing cash either for existing business to expand or else for entrepreneurs to establish new ventures.

He now declared there might exist a persistent belief that was so low that there was little point in supplying foods. he criticized the government for the way it typically responds to downturns. Keynes needed to persuade his audience to act contrary to their simpler, more basic instincts.

One obvious objection to Keynes is "who should pay the loans"? by creating the debts, would not the problem be simply postponed to another day, rather than solved? Keynes now applied his theory of the "Multiplier Effect". first, by creating jobs through public works, the government should save some money they would've otherwise spent on unemployment benefits. Second is the increasing number of people in employment would create additional spending power, therefore boost the economy and tax receipt.

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The video contains information about the importance of change. It explains that the importance of change wasn't technical, economic, or political but the difference in the way we think/ the evolution of the idea on how people think. Mr. Max Weber believed that society is becoming more and more rational. It is stated in the video that Mr. Max Weber's definition of rationality includes three specific things: calculability, methodical behavior, and reflexivity. It meant that thinking about what you're doing, in other words, thinking reflexively.

So what caused this massive shift? What kicked off this process of rationalization? Weber believed it was religion. In the book The Protestant Ethic and the Spirit of Capitalism, it is stated that the transition from traditionalism to modernity began with the protestant formation. Because of this, it bloomed the idea that it isn't a matter of how blessed you are by God, but you work as much as possible to accumulate much wealth possible.

The video supports how Mr. Max Weber influenced so many people on how religion is the source of change of people's capability of producing ideas. It supports Max Weber's ideas like rationalization, bureaucracy, and social stratification. I believe these three ideas made people fuel the hunger for money and made people dive in on the abyss of thinking for businesses or entrepreneurship rather.