Jollibee Foods Corporation: Case Background
I have always believed that I can make my business a big business.
-- Tony Tancaktiong
In May 1975, Tony Tan and his girlfriend/future wife Grace decided to be the bosses of themselves and went into a franchise agreement with then popular Magnolia Ice Cream. The idea came when the bachelors from University of Santo Tomas found themselves unwilling to work for anybody after graduation.
Though both were Chemical Engineering graduates, the two had a bulk of their lives being thought by their parents, also entrepreneurs, the basics of being a business person.
Ice Cream is a fad in the Philippines during the time. However, to be a $650 million business as Jollibee is right now, ice cream is just not the thing that can carry you into the ladder of success.
As time develops and competitors keep on coming, Tony Tan had to think like the 'big guns', his empire's development was a series of new Product development, Advertising, Acquisition and Expansion campaigns.
Today, the Jollibee Foods Corporation is a brand tagged to the Philippines, much like Roman Catholic is to Pope Benedict XVI. And it does not stop there. Tony admitted that having dominated the local market, it is time for the little bee to step out of its hive. His long-term dream of being world renown is about to be reality...not quite. Tony admits that they are far from his dream, and it would take his third generation for this to happen. Still with his optimism, that has brought his to where he is today, Tony and Jollibee are not slowing down.
An excerpt from the company website show just how dedicated the company is in further strengthening its hold of the food industry and the fulfillment of Tony and his...