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Reflectio Paper: Entrepreneur

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AnneShannenBambaDabu
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47 views2 pages

Reflectio Paper: Entrepreneur

Uploaded by

AnneShannenBambaDabu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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As we all know Henry Sy Sr. is the richest man in the Philippines.

His story of
success caught my attention because his story is “rags to riches” that we usually watch in a
drama series on the television. Born in Xiamen, China, in November 1924, he did not have a
silver spoon in his mouth. Wanting to overcome hardship, Henry, at the age of 12,
accompanied his father to the Philippines only to encounter an unhappy childhood in a
foreign land. Sy had a rough time living as a refugee in a new country and had to learn the
local language. Determined to be successful, he worked hard day and night to fulfill his
needs. Sy started off with a small sari-sari shop company that supported them in their daily
lives. As the Philippine economy collapsed in World War II, the shop burned down, causing
his father to return to China. Henry Sy remained in the Philippines and established his own
shoe company in Marikina. He did not get his success easily. He studied in school and
graduated with a degree in business from the Far Eastern University. Sy also changed legal
names, sold rejected and overrun shoes, plus several other setbacks that he had to face in his
early life.

After a series of defeats in his company, Henry Sy stood up and persevered to achieve
his target. In 1958, he opened up a small shoe shop in Quiapo, Manila, called "Shoe Mart,"
which gradually marked the creation of SM Prime Holdings. He has been the richest man in
the country for 11 straight years since 2005 and placed 52nd in the 2018 Forbes World
Billionaires Ranking. Starting with his flagship Shoemart Store, Mr. Sy formed the SM group
of businesses through determination and hard work, becoming a chain of shopping malls,
banks, hotels and real estate investments, including major shopping centers in China, making
him the wealthiest Filipino and the 53rd richest person in the world with an estimated net
worth of $19 billion. In the midst of his immense riches, Mr. Henry Sy was a generous donor
of charitable projects, providing millions of pesos per year to support the college scholarship
of thousands of underprivileged Filipino youth, contributing school houses, books and
supplies, accommodation to the needy, and through the SM Foundation, even donating large
sums to health insurance, crisis and response, and farmer preparation. In addition, because of
his malls we can have a place where we can bond with our loved ones and we can also buy
imported goods without going abroad.

Henry Sy Sr. started from nothing; he did not get his success overnight. I think he
became successful because he is an example of an effective manager/ leader. I relate him with
our lesson in the management process. First is planning, he knows his goals and objectives.
Second is organizing, he's excellent at making a business strategy, as he said in one of his
interviews, "He's hands-on and customized in his management style. He's not doing things on
the impulse. He thinks long and hard about every idea he has created." Third is leading,
despite his status as a successful businessman, Henry is a very modest guy, always attributing
his achievements to the people around him who helped him get to where he is today. He still
loves people from all backgrounds of life, and never gets ashamed to be seen with the janitors
of his mall. Having lived through a bad and impoverished life of his own, Henry knows well
what it is like to live in want, so he still offers a hand to those in need. And lastly controlling,
In the postwar period, during purchasing trips to the US, Henry Sy found that shopping malls
were booming there; the shoe merchant had already dreamed that he would one day create
similar shopping centers in the Philippines. In spite of his silent nature, Sy is a committed
visionary, and he has always found himself to be No. 1 in whatever efforts he undertakes.He
started from a very low point of view, but now he has become the richest man in the
Philippines, amid all his struggles, he has not given up his hopes. Henry Sy's inspirational
story is a motivational factor that we all use to fulfill our aspirations and ambitions in our
lives. The tale of a young boy from a poor home who dreamed of becoming an advocate for
progress by becoming rich is an inspiring reminder of those of us who are aiming to leave our
mark in history.

https://primer.com.ph/business/2015/12/27/success-story-henry-sy-sr/
https://medium.com/@joshcanonoy/success-story-henry-sy-sr-78ab59e70da0

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