Tony Tan Caktiong

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Editors Note: (Tony Tan Caktiong is ranked as 5th richest Filipino in 2008 with a net worth of US$ 690M. His business is mainly on the food business and through acquisition he became so huge to land as the 5th richest Filipino for 2008. He was awarded as World Entrepreneur of the Year in 2004).


Fourth annual Ernst & Young event named Asian businessman Tony Tan Caktiong, head of Jollibee Foods Corporation, as 2004 World Entrepreneur Of The Year (WEOY) at an award ceremony held on 29 May in Monte Carlo, Monaco.
Tan Caktiong was hailed the first Filipino Entrepreneur Of The Year at an awards banquet held last March 23, 2004 in Manila.

Afterwards, he proudly accepted the WEOY award along with his family at Salle des Etoiles Terrace (Summer Sporting Club) in Monte Carlo.Courtesy of Air France, Tony Tan Caktiong was also accompanied by David Balangue, chairman of SGV & Co., the Philippine practice of Ernst & Young, and president of the SGV Foundation, the official organizer of the Entrepreneur Of The Year Philippines program.



Editors Note: (Here is the excerpt from www.ey.com)

Food and family are two essential elements behind the success of both Tony Tan Caktiong and his company, Jollibee Foods Inc. While growing up in Davao (Southern Mindanao), he and his brothers worked in their family restaurant where their father was also the chef. From his parents, they learned two basic ingredients that led to the Jollibee phenomenon -- good food and humility. After high school, Mr. Tony Tan Caktiong moved back to Manila to pursue an engineering course at the University of Santo Tomas. Upon graduating from the university, he and his brothers applied for a franchise of Magnolia Ice Cream House. The business was already doing well but they noticed that the customers were looking for something besides ice cream. This gave them the idea to serve sandwiches and spaghetti. Pretty soon, the hot meals were outselling the frozen delights. Mr. Tan Caktiong decided to convert their two ice cream parlors into dine-in fast-food restaurants called "Jollibee."
Tony Tan Caktiong receives the Master Entrepreneur award from Oscar Reyes, SGV Foundation Board of Trustee member.The story behind the name is as interesting as the company's. When Mr. Tan Caktiong and his family were brainstorming on a symbol for their business, they thought of a bee because it is known for its hard work.
Bees also produce honey that represents the sweet things in life. In addition, they also wanted the name to connote happiness and prefixed "jolly" because people should be happy with their work to enjoy it. .With Jollibee, the Tony Tan Caktiong team decided to focus on the Filipino taste. They made sure -- as their father had taught them -- that all the food that Jollibee serves must taste good. And when they learned that the Number One fastfood chain in the world was making an entry in the Philippines, Mr. Tony Tan Caktiong knew that they had only two choices: to be a franchise of the global brand or to stand on its own. Today, it is a known fact that Jollibee is the undisputed leader in the local fastfood industry. Jollibee commands 65% of the market, leading in three major segments -- Jollibee in chicken and burgers; Chowking in oriental fast food; and Greenwich in pizza and pasta. Moreover, Jollibee is one of the largest franchising networks in the Philippines. From two stores in 1975, Jollibee can be found in around 900 locations in the country and 29 overseas. This phenomenon is due mainly to Mr. Tan Caktiong's persistent drive to innovate, to look ahead, and to learn from other companies' successes and mistakes. He is the toughest quality controller of Jollibee's products and services. At the moment, Mr. Tony Tan Caktiong is upbeat about doing business in China and Indonesia. Jollibee will explore opportunities in the Japanese dining segment through the US California-based Tomi's Teriyaki Japanese Restaurant. He is not afraid to fail despite an unsuccessful venture in the Middle East. From a business standpoint, he considers the episode successful because of the valuable lessons he learned form it. For his tremendous success, Mr. Tony Tan Caktiong was recognized Management Man of the Year in 2002. He has also been presented an Agora Award for Outstanding Marketing Achievement, a Triple A Alumni Award from the Asian Institute of Management, a Golden Scroll Award, a Ten Outstanding Young Men (TOYM) Award for Entrepreneurship, a Star of Asia Award from BusinessWeek, and a Lifetime Achievement Award from the Asian Chain Restaurant Operators and Suppliers Series. Mr. Tony Tan Caktiong credits his parents for cultivating his entrepreneurial spirit and instilling in him the values of respect and humility, which are now ingrained in the corporate culture of Jollibee. Everyone in Jollibee -- from the CEO to a store's kitchen crew -- respectfully address each other as "Sir" or "Ma'am." "If you take care of your people, they will take care of you," Mr. Tony Tan Caktiong puts simply. By people, he refers not only to employees but also to Jollibee's numerous suppliers, franchisees, shareholders and the public at large. After all that has been said and done in the last 25 years since Jollibee metamorphosed from an ice cream parlor, Mr. Tony Tan Caktiong returns again and again to the one basic question his parents would ask often of him: Have you made people happy? Only when he is certain that he has made people happy can Mr. Tan Caktiong say that he is truly successful.

Editor’s Note: Click here to see who made it to the top 40 richest Filipinos in 2008.