Mr. Softy’s Vic Perea Keeps His Cool Passion For His Ice Cream Business

Mr. Softy’s Vic Perea Keeps His Cool Passion For His Ice Cream Business

Almost everybody loves ice cream. As dessert or snacks, ice cream lifts up someone’s spirits amid life’s dragging existence. For only P10, a schoolgirl, a teenage boy or a working woman takes a break in a street corner, near a school or in a building’s lobby, then moves on. This little truth has inspired Victorino “Vic” Isidro Perea to sell ice cream called Mr. Softy in a public market in Marikina. It is soft served ice cream – easily done by an ice cream maker and served in a cone or a cup because it is not too thick – that Vic sells. After staying in the U.S. for two years, Vic returned to the Philippines in 2000 with his American experience, a second-hand ice cream maker which he got for $4,000 and started doing business. He knows how to sell ice cream because he was once the sales manager of Presto ice cream. “My experience in Presto ice cream inspired me a lot to pursue the business,” he says. Starting with one employee in his first store in Marikina, Vic now has almost a hundred people and 71 stores involved in the family-owned Mr. Softy Ice Cream, Inc., the pioneer and leading ice cream company in the Philippines today. “We treat our employees fairly and establish a good relationship with them. Also, we always see to it that dealing with our suppliers and customers is always fun and professional,” he says. The ice cream family Vic, who serves as president and CEO, is proud of his ice cream business, a family business which he runs with his entire...
PAL To Buy 6 New Planes Next Month

PAL To Buy 6 New Planes Next Month

Lucio Tan-owned PAL Holdings, Inc. (PAL) will acquire six new planes from an aircraft manufacturer in February, a disclosure to the Philippine Stock Exchange (PSE) said. The aircraft will be six twin-engine body jets, which the publicly listed company would get from either Airbus or Boeing. Jaime Bautista, PAL president and CEO, said they will announce the signing next month. According to the PSE, PAL Holdings, Inc. (PAL) was originally incorporated on May 10, 1930 as Baguio Gold Mining Company. On September 23, 1996, the Securities and Exchange Commission (SEC) approved the change in the company’s name to Baguio Gold Holdings Corporation and the change in the holding company’s primary purpose. On January 19, 2007, the SEC approved another change in corporate name from Baguio Gold Holdings Corporation the present one. Its subsidiaries are Philippine Airlines, Inc. (PA) and PR Holdings, Inc. (PRHI). PA, the national flag carrier of the Philippines, provides air transportation for passengers and cargo within and outside the Philippines. As of December 31, 2014, PA’s route network covered 32 points in the Philippines and 35 international destinations, the PSE said. PR was organized by a consortium of investors for bidding for and acquiring the shares of PA in accordance with the single-buyer requirement of the bidding guidelines set by the seller, the national government. PR HI acquired on March 25, 1992, 67 percent of the outstanding capital stock of PA. Founded in 1941, Philippine Airlines was the first and is the oldest commercial airline in Asia. It serves 32 destinations in the Philippines and 36 overseas destinations in Southeast Asia, East Asia, Middle East, Oceania,...
Avoiding Conflict To Keep Family Harmony

Avoiding Conflict To Keep Family Harmony

Conflict often troubles family businesses – disagreements over management, clash of personalities, different work ethic – because what happens in the family affects the business. But the challenge for family members is how to handle conflict without affecting their work in the business. Conflict of interest. It is important to coordinate the specific needs of families and business to reduce the risk of destructive conflict of interest. Families need to plan holidays together and know that everyone will be there, and things won’t be changed at the last minute. They need to plan for events like weddings, the birth of children, medical procedures and support for elderly relatives. Businesses also need to plan for expansions, development of new products and services, big publicity campaigns, opening of new offices and succession. Taking a carefully structured approach to these aspects and considering the needs before they become urgent makes it easier to avoid conflict of interest. The best way to make sure hidden resentments will not develop into a full scale row is for everyone to have a say on issues. Call regular meetings, and no matter how much people complain that they have to attend regular sessions, make them non-negotiable. Tell all family business members that the weekly or monthly meeting is there for them to say their piece. If there is a conflict between family business members, they should have the chance to vent their spleen, but they can also discuss it somewhere in private if a public airing of views isn’t appropriate. But it should be made clear that family business meetings are for business only and should...
Sia-led Hotel of Asia Brings China’s Jinjiang Hotels to Manila

Sia-led Hotel of Asia Brings China’s Jinjiang Hotels to Manila

The grilled chicken founder is now into hotels. Mang Inasal’s Edgar Sia II, through its CSI Hotels, Inc., is the franchise holder of Jinjiang Hotels, China’s largest hospitality conglomerate. CSI Hotels, Inc.’s parent company is the Sia-led Hotel of Asia, Inc. (HOA). According to a BusinessWorld report, Jinjiang opened two hotels in Makati and Ortigas business districts in September 2015. HOA said in a press statement that Jinjiang is taking advantage of the growing tourism market in the Philippines. HOA said Jinjiang hotels, considered a budget hotel chain in China, in the Philippines offer “business boutique accommodations.” “Jinjiang in the Philippines will be a notch higher than its counterpart in China, as it provides guests with three-star business boutique accommodations with comfort and convenience in key cities in the Philippines,” HOA said. In the Philippines, Jinjiang is managed by HOA’s hotel management company, Hotel 101. Jinjiang opened its 95-room hotel in Ortigas, located at San Miguel Ave. corner Lourdes Drive, Pasig City and its 59-room Makati hotel in A. Arnaiz Avenue. HOA is a company owned by Sia’s Injap Investments, Inc., tycoon Carlos Chan’s Oishi Liwayway Marketing Corp. and Steineil Development Corp. Sia is the chairman and chief executive officer of the company. With 1,566 hotels worldwide, Jinjiang Hotels is one of the largest hotel chains in the world. Aside from Jinjiang, HOA also manages and operates the Injap Tower Hotel in Iloilo City, and the upcoming Hotel 101 in the Mall of Asia Complex. HOA is comprised of three reputable companies – Injap Investments Inc., Oishi Liwayway Marketing Corp. and Staniel Realty & Development Corp., its website said....
The Many Shades of Commitment to Family Business

The Many Shades of Commitment to Family Business

Family businesses may either perform good or bad during the year. If the results are good, you positively go on with the business; but if bad, you’re disappointed, thinking twice if the business is for you. No matter how you react or act, your degree of commitment to the business makes you wish to continue it. Commitment. It has received significant attention in the workplace and in the organizational commitment literature (e.g. Meyer and Allen 1991; McGee & Ford, 1987). After a thorough review of the literature on organizational commitment, Meyer and Herscovitch (2001) conclude that although commitment is a force that binds an individual to a course of action, it is characterized by distinguishable ‘mind-sets’ that shape the behavior of an individual toward a course of action that is relevant to one or more targets. In the case of family business successors, the targets of their action are the family business and the course of action or ‘focal behavior’ is that they feel compelled to pursue is a career in their family business. Despite sharing a common focal behavior, the motivation for such behavior can vary significantly (e.g. Dumas, Dupuis, Richer & Cyr, 1995). The following statements made by some family firm successors sharing why they joined their family business provide a glimpse of such variations: “I’m one of the luckiest guys to come out of the university because I haven’t been slotted into a specific job. We have an item that we manufacture from scratch, we warehouse it, we wholesale it and we retail it. I see the business from every angle and I’m involved in it...