Posts Tagged ‘Success’
What is the Tony Tan Caktiong
In the Philippines, the term fast food is pretty much synonymous with the Jollibee brand. It took more than only one man for it to become that way, but all it took to start was a person name Tony Tan Caktiong. The humble beginning for Tony was working with his pa to operate a kitchen in Fujian, China. In 1975, Tony commenced his entreprenuerial journey with simply a pair of two ice cream parlors in Cubao, Quezon city.
despite his success with the ice cream parlors, Tony failed to stop there. He looked around the globe and saw the kind of success chains like McDonalds were having. Instead of opening a franchise for an existing fast food chain like Burger King or Wendy’s, he made a decision to expand with the opening of his own chain of hamburger-serving fast food restaurants named Jollibee in 1978.
Since McDonald’s had not yet entered into the Philippines, Tony capitalized on this fact by establishing his brand among the Filipino folk. Rather than making an attempt to learn everything from nothing, Tony journeyed to the united states to learn the tricks of the trade from the already established chains like McDonalds. By implementing these tried and true business practices back in the Phlippines, Tony’s hard work started to repay when his business started to rapidly expand. The division of Jollibee Philippines actually tries to serve the specific needs of the Filipino folk and its culture by focusing its product development as well as its promoting and advertsing to target the unique and traditional Filipino family.
Today Tony Tan Caktiong serves as a success story and a role model for entreprenuers around the globe. This was solified in 2004 when Tony was voted the entrepreneur of the Year by Ernst & Young. The chairman of Ernst and Young, James S. Turley asserted,’These awards are about celebrating worldwide entrepreneurship and the will to continually innovate and expand. Tony’s story is a very uplifing one, on both these counts. We are delighted he has been selected to receive this year’s award.’.
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