JGSOM
Forum showcases Filipino Business Success Stories
The John Gokongwei School of Management hosted another successful session of its Business Leadership Forum at the Intercontinental Manila Hotel last 26 March 2003. An SRO crowd of over 250 entrepreneurs and company executives attended "Competing Against Giants: Filipino Business Success Stories," the second session of the quarterly Forum. The powerhouse cast of speakers was made up of five CEO's who shared their inspiring stories as entrepreneurs starting up their own small ventures in industries dominated by global business giants, and the strategies they pursued en route to becoming today's Filipino business success stories.
Vinnie James Yu, investment adviser, management consultant, and Professorial Lecturer of the John Gokongwein School of Management set tone for the Forum by drawing on the work of Michael Porter to present an overview of the various competitive strategies available to management: cost leadership, differentiation, and focus.
Dr. Abraham F. Pascual, Chairman and Chief Executive Officer of Pascual Laboratories, Inc. narrated their company history, from their humble beginnings in 1946 to their present status as a multi-billion Filipino multinational pharmaceutical corporation. Pascual Laboratories is the Philippine market leader in wound remedies and herbal medicine. Their products are exported to Malaysia, Japan, Europe, and the United States. The secrets of their success? Product, people, strategy, and spirit.
Dr. Rolando B. Hortaleza, Chairman and Chief Executive Officer of Splash Corporation related the story of how he and his wife set up the business in 1985 with only P12,000 in capital, and managed its phenomenal growth to break the P3 billion peso mark in sales revenues by 2002. Constant research and product development and always staying in touch with the pulse of the market are the secrets of their success.
There are 2.3 million Filipino-Americans in the United States with a disposable income of $32 billion. According to Mr. Carlos R. Araneta, Chairman of LBC Development Corporation, this is the market opportunity that has been successfully tapped by Hari ng Padala, LBC Express, which delivers letters, packages, and cash to any point in the Philippines. The first Filipino-owned carrier business started in 1950 when Antonio Araneta bought LBC Aircargo, Inc. from its Australian owners. At present, the company operates 500 branches both here and abroad.
Nutri-licious Foods Corporation's President, Mr. Rogelio S. Nemeňo, started his fruit drink business with a single blender in the cafeteria of BPI's office building. Today, his Nutrilicious and Delicious drinks are available in almost every major fastfood chain and office canteen. His 4B's of success are: build internal strength, build warm relationships, build additional sources of sale, and build the brand name.
Lastly, Mr. Joey Concepcion, the very young President and CEO of RFM Corporation, shared his many success stories (as well as failures) in a colorful career that has focused on building up Filipino brands and competing against global business giants. He talked about the power of strategic partnership, and the need for alliance-building to stay competitive in the increasingly globalizing Philippine economy.
First published in the President's Bulletin, Vol. 7, Issue No.2 – Ateneo de Manila University.