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    Calma, Gazelle Anne A. Alfredo M. Yao

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    Gazelle Calma
    Alfredo M. Yao grew up in a poor family and had to take on responsibility at a young age after losing his father. He started his first business, a printing press company, at age 17 with a small loan. In 1979, while traveling in Europe, he discovered a new juice packaging method called doypacks which he brought back and used to start his own juice company, Zest-O Corporation. Yao grew Zest-O into a successful business and also pioneered new initiatives like starting a budget airline, Zest Airways. Today Yao continues to lead various business under the Yao Group while also pursuing new ventures through innovation and diversification.

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    Calma, Gazelle Anne A. Alfredo M. Yao

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    Gazelle Calma
    495 views3 pages
    Alfredo M. Yao grew up in a poor family and had to take on responsibility at a young age after losing his father. He started his first business, a printing press company, at age 17 with a small loan. In 1979, while traveling in Europe, he discovered a new juice packaging method called doypacks which he brought back and used to start his own juice company, Zest-O Corporation. Yao grew Zest-O into a successful business and also pioneered new initiatives like starting a budget airline, Zest Airways. Today Yao continues to lead various business under the Yao Group while also pursuing new ventures through innovation and diversification.

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    ENTREP-ALFREDO YAO

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    Alfredo M. Yao grew up in a poor family and had to take on responsibility at a young age after losing his father. He started his first business, a printing press company, at age 17 with a small loan. In 1979, while traveling in Europe, he discovered a new juice packaging method called doypacks which he brought back and used to start his own juice company, Zest-O Corporation. Yao grew Zest-O into a successful business and also pioneered new initiatives like starting a budget airline, Zest Airways. Today Yao continues to lead various business under the Yao Group while also pursuing new ventures through innovation and diversification.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    495 views3 pages

    Calma, Gazelle Anne A. Alfredo M. Yao

    Uploaded by

    Gazelle Calma
    Alfredo M. Yao grew up in a poor family and had to take on responsibility at a young age after losing his father. He started his first business, a printing press company, at age 17 with a small loan. In 1979, while traveling in Europe, he discovered a new juice packaging method called doypacks which he brought back and used to start his own juice company, Zest-O Corporation. Yao grew Zest-O into a successful business and also pioneered new initiatives like starting a budget airline, Zest Airways. Today Yao continues to lead various business under the Yao Group while also pursuing new ventures through innovation and diversification.

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    CALMA, GAZELLE ANNE A.

    Alfredo M. Yao
    Philippines’ Juice King

    Early years

    Alfredo M. Yao was born on November 23, 1943 to the simplest of families. The
    eldest among his siblings, he had to sacrifice a lot at an early age. He lost his father and
    became the family breadwinner at the age of 12. He started a printing business at age
    17 with a Php 3,000 loan from what is today known as the Development Bank of the
    Philippines.

    He never got to finish school even though he wanted to, because he was already
    a full-fledged businessman by age 18. He’s gone through the ringer, so to speak: he’s
    been a street vendor and at times, slept on cardboard box on the sidewalks of the
    street.

    The birth of Zest-O

    Yao went from printing and packaging to the beverage industry in the unlikeliest
    of ways. He learned printing wrappers through a cousin who was then working for a
    printing press. This paved way for him to venture into the printing press business thus,
    the birth of Solemar Commercial Press named after his mother.

    In 1979, while on a business tour of Europe, he stumbled across a new way of


    packaging: Doypack, a sealed bag made of plastic and aluminum that’s designed to
    stand upright. Seeing its potential, he marketed it to local juice manufacturers, but no
    one showed interest.

    Not wanting to let something with this much potential go to waste, he started
    making his own juices in his kitchen and packaged it using the doypacks he got from
    Europe. He would soon corner the market on juice drinks, thanks to the convenience of
    his doypacks.

    The innovator

    Yao has never been one to shy away from innovation. While his beverage
    company, Zest-O Corporation, was slowly making waves in the juice market, he was
    already looking at other potential investments. At 2008, he launched Zest Airways and
    sought to compete with other low-cost carriers of the country.

    He was met with stiff competition (Air Philippines and Cebu Pacific Air to name a
    few), so he looked at a different way of flying people into the country. Thus, making Zest
    Airways the first local carrier to fly tourists from China and Korea straight to Philippine
    destinations, i.e. without dropping by NAIA.

    Last 2016, Zest Airways was fully integrated with AirAsia as AirAsia Zest.

    The Juice King Today

    Alfredo Yao has gone a long way from his humble beginnings. He’s still at the
    helm of Zest-O Group and Zest-O Corporation as its chairman but that didn’t stop him
    from innovating and diversifying into other businesses.

    Yao was also the Chairman of Macay Holdings, Inc., the parent company of ARC
    Refreshments Corporation, which handles a couple of popular beverage brands
    including RC Cola, and the founder and Chairman Emeritus of Philippine Business
    Bank, a bank which focuses on small and medium enterprises (SMEs) and has over
    139 branches as of 2016.

    Some of the companies under the umbrella of the Yao Group of Companies were
    Solmac Marketing, Inc., Harman Foods (Phils.), Inc., Amchem Marketing, Inc., Uni-Ipel
    Industries, Inc., SMI Development, Inc., Summit Hotel and Resort Specialist,
    Inc. (Former: Sol Marina Resort Boracay – Current: Movenpick Resort & Spa Boracay). 

    “Credibility is built, not given. Respect is earned, not bought” – Alfredo Yao

    http://primer.com.ph/business/2017/06/19/success-story-of-alfredo-yao-the-juice-king/
    Entrepreneurial Characteristics

     Determination and Perseverance – He has built his legacy on hard work and
    perseverance, as well as showing tenacity for always finding better ways of
    doing things.
     Calculated risk taking – He set up a packaging business with a starting capital of
    P3,000, which he borrowed from his mother and it become successful.
     Creativity and innovativeness – When he saw the type of packaging now known
    as the doypack. He started making his own juices in his kitchen and packaged it
    using the doypacks he got from Europe.

    REFLECTION

    I admired Alfredo Yao with his determination to make something out of nothing, he was
    able to achieve beyond what he could ever imagine. He inspires me to just work
    hard and never lose hope, so that I can apply it as I continue my journey in achieving
    my goals in life. Optimistically this will lead me to become a successful person in the
    near future.

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