Big John“John Gokongwei Jr: Rags to Riches”

ENTREP: Special ReportsPrepared by: Camille Dela Cruz

Fun Facts about JG

I. Who is John Gokongwei Jr.?

He was born on August 11, 1926 in Gulanyu Xiamen Fujian Province, China. He’s the eldest among six children.

He is married to his wife Elizabeth of 52 years and have also six children – Robina, Lance, Lisa, Marcia, Hope and Faith.

As of 2012, He is the third richest entrepreneur in the Philippines with a net worth of $3.2 billion.

He is the chairman emeritus of the conglomerate, JG Summit Holdings.

A Journey of JG’s Life...

II. What is the story of his life?

II. What is the story of his life?

II. What is the story of his life?

II. What is the story of his life?

III. Relating JG’s life to Entrepreneurial Values

Why do we need to learn about John Gokongwei’s life?

Because something crucial happened in his life that made him the man he is today – one of the most

admired entrepreneurs in the Philippines.

“Looking back, I wonder, what would have happened if my father had not left my family with nothing? Would I have become the man I am? Who knows? The important thing to know is that life will always deal us a few bad cards but we have to play those cards the best we can. And WE can play to win! This was one lesson I picked up when I was a teenager. It has been my guiding principle ever since. And I have had 66 years to practice self-determination. When I wanted something, the best person to depend on was myself. And so I continued to work.”

Key Learning: Survival, Self-Determination

III. Relating JG’s life to Entrepreneurial Values

IV. Relating JG’s life to Entrepreneurship

With everything that has happened to him, JG believed that Entrepreneurship changed his life and is a key player not only to one’s success but also to a Nation’s success.

Excerpts from JG’s commencement speech – Ateneo de Manila University, 2004

You have been taught at the Ateneo to be “a person for others.” Of course, that is noble: To serve your countrymen.

Question is: How?

And my answer is: Be an entrepreneur!

You may think I am just a foolish man talking mundane stuff when the question before him is almost philosophical. But I am being very thoughtful here, and if I may presume this about myself, being patriotic as well.Entrepreneurship is the answer.

We need young people who will find the idea, grab the opportunity, take risk, and set aside comfort to set up businesses that will provide jobs.

IV. Relating JG’s life to Entrepreneurship

But why? What are jobs?

Jobs are what allow people to feel useful and build their self-esteem. Jobs make people productive members of the community. Jobs make people feel they are worthy citizens. And jobs make a country worthy players in the world market.

In that order of things, it is the entrepreneurs who have the power to harness the creativity and talents of others to achieve a common good. This should leave the world a better place than it was.

Let me make it clear: Job creation is a priority for any nation to move forward.

IV. Relating JG’s life to Entrepreneurship

The Entrepreneurial Personality of John Gokongwei Jr.

IV. Relating JG’s life to Entrepreneurship

Nine Rules for Business Success of John Gokongwei Jr.

Change is inevitable.

Personal stakes in the company encourage everyone to work hard.

Mistakes and disappointments are inevitable.

Good brand building equals reputation.

Family support is crucial.

Never lose sleep thinking of business risks.

Reading and traveling enriches one’s mind.

Philanthropy is a personal satisfaction.

V. Sources

http://en.wikipedia.org/wiki/John_Gokongwei

http://www.millionaireacts.com/772/gokongwei-success-story.html

http://www.jgsummit.com.ph/speech-jgkw-ateneo-som-20020301.htm

http://www.rappler.com/business/214-who-s-who/12054-being-john-gokongwei

Thank you!