Q&A with Microdata’s Adeline Ang-Te on Training the Next Generation

Q&A with Microdata’s Adeline Ang-Te on Training the Next Generation

Entrepreneurship, interviews, Q&A
Q1. You have recently taken over the day-to-day operation of Microdata from your father. How did he train you? A: My father started the company before he got married, so as far as I could remember, I have always been exposed to business. I was raised up thinking that I will one day run the business, so it became an accepted reality for me. My parents trained me early on by bringing me to the office during weekends and summer breaks in order to help out with minor tasks such as filing documents. During college, I was encouraged by my parents to participate in sales-related activities, and that is why I worked part-time in retail and opened a small food business in Ateneo de Manila University. Upon graduating in 2009,…
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Q&A with Viventis’ Yu Ming Chin on Transition From Family to Professional Management

Q&A with Viventis’ Yu Ming Chin on Transition From Family to Professional Management

Entrepreneurship, Execution, interviews, Q&A
Q1: There is always a crossroad with growing family enterprises – that of professionalizing by hiring an experienced outsider or continuing governance within the family. How can you help in this regard? A: When a family enterprise is ready to professionalize, the first things that need to be done are the drawing up of the family governance constitution and the selection of an independent family board member. Sometimes, growing family enterprises experience failure when it’s being transferred from generation to generation and taking the aforementioned steps can help avoid that failure. We have relevant expertise in these areas. Q2: Are there traits you look for within a family before you think that they are ready to hire a professional? A: The three things I look at are Scale, Skills, and…
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Q&A with Gonzalo Co It on Avoiding Bitter Clashes in Family Businesses

Q&A with Gonzalo Co It on Avoiding Bitter Clashes in Family Businesses

Entrepreneurship, interviews, Q&A
Q1: You introduced two new product categories in the Philippines, Green Cross Rubbing Alcohol in 1952 and Zonrox Bleach in 1954. They are popular products now. What made you think there would be a big market for those products in the 1950s? Back the 1950s, I knew there would be a big market for alcohol because of my experience at Manila Commercial Company where I had begun working as a bodegero/kusinero and was promoted to salesman and then to treasurer. As treasurer, I wanted to increase our profitability. I saw stocks of Gray Cross rubbing alcohol languishing in our warehouse on Jabonera Street because our salesmen didn’t know how to market the product. I thought we could push it for everyday household use. So I personally introduced rubbing alcohol to…
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Q&A with Banyan (Boston) Partner Dr. Joshua Baron on Coaching Family Businesses

Q&A with Banyan (Boston) Partner Dr. Joshua Baron on Coaching Family Businesses

Entrepreneurship, interviews, Q&A
Q1: Your company deals mostly with generational transitions.  What are some issues confronting family businesses that are usually overlooked by families? To their credit, most of the family business leaders we meet think a lot about succession. The vast majority are very interested in having what they have built continue into the next generation. More than anything else, the senior generation tends to focus on who is going to replace them in their current role. And there is no question that it is essential to find the right person to lead the business in the next generation. At the same time, that focus on identifying “the one” sometimes gets in the way of addressing other essential issues. For example, one of the most important decisions that each generation makes is…
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Q&A with Rustan’s Donnie Tantoco III on Working with Loved Ones and Turning Around A Heritage Brand

Q&A with Rustan’s Donnie Tantoco III on Working with Loved Ones and Turning Around A Heritage Brand

interviews, Q&A, Turn Around Marketing
Q1: You put up the first hypermarket in the Philippines, Shopwise, and while most supermarkets just provided express lanes for those buying a few pieces, Shopwise created the exclusive Elite lane designed to save time as well as reward volume buyers with free snacks. You also have price checkers in skateboard. I really like these ideas, can you share with our readers the thought process behind these ideas? We were the first retailer to introduce a mass-based loyalty program in the country known as the WiseCard.  We found inspiration in many successful loyalty programs in the world, most notably Tesco’s.   We learned that the value of any loyalty program is in the wealth of information you can get on customer buying behavior.    We quickly developed our own loyalty data-mining tool,…
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Q&A with Primer Group President Jimmy Thai on Working with Partners & Spouses

Q&A with Primer Group President Jimmy Thai on Working with Partners & Spouses

Entrepreneurship, Execution, interviews, Q&A
Q1. Your company is owned and managed by a group comprising of five friends (including a brother).  How has this worked out for all of you -- in terms of business relationships and in terms of personal bond. Have you worked together in a previous organization or association before incorporating? Jimmy Thai: Johnny and I informally worked together in a family business, a hardware and plumbing store in Chinatown. Jerry Sy: Jimmy and I had 5 decades of friendship and partnership dating from kindergarten days. Thomas Lim: I met my partners through Johnny Thai who is my friend and schoolmate in UST. We were classmates for 3 years at the College of Mechanical Engineering. Johnny Thai: (brother of Jimmy Thai.) We started in our family-owned hardware store as delivery checkers when we…
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