Can entrepreneurship really be taught in schools, inside classrooms with theories and textbooks? Or is it true that the best training for aspiring entrepreneurs is the proverbial "School of Hard Knocks," with the lessons provided by actual hands-on experience, rigorous practice, and struggle?
Though not all people are cut out to be entrepreneurs and there are many who might excel more as managers or professionals, I strongly believe the Philippine economy needs to encourage more entrepreneurs if we wish to strengthen the free-enterprise system and eventually wipe out mass poverty. In particular, we need more dynamic, nimble and resilient small- and medium-scale entrepreneurs. Our high-profile, noisy and mostly selfish politicians are not as important as entrepreneurs in championing economic progress.
Other outstanding FEU alumni in business include RCBC Group boss Ambassador Alfonso Yuchengco (who is an astute businessman despite his recent troubles with Pacific Plans, Inc.), San Miguel Corp. president Ramon Ang, bankers Ramon Sy and Wilfrido Tecson (who speaks fluent Mandarin and Hokkien as well as his native Cantonese), and GMA Network, Inc. major shareholder Menardo "Nards" Jimenez.
Two names that should be added to all those in FEU’s honor roll of business achievers are DDB Philippines advertising group chairman Gil Chua and his schoolmate, topnotch entrepreneurial coach Lorenzo "Lorenz" Yatco, both of whom recently introduced "The Entrepreneur" board game. They envision this board game to encourage high school and college students, aspiring entrepreneurs and others to learn the dynamics, skills, values and mindset of entrepreneurship through this fun and educational game now available at all branches of Powerbooks and Fully Booked.
Gil Chua said the board-game project is part of DDB Philippines’ corporate social responsibility, because if there are more entrepreneurs, there will be increased advertising in the mass media, then all of society can ultimately benefit with a better quality of life and higher national wealth. He believes in encouraging the youth to appreciate business, because his late immigrant father, James Chua, trained him early as a kid to work in their grocery in Virac, Catanduanes. His dad used to work in Manila as a sports writer for the pre-war Chinese-language newspaper Fookien Times under publisher-editor Dr. James Go Puan Seng and also as a ghost writer for the pre-war Chinese community leader Don Justo Cabo Chan.
FEU president Dr. Lydia B. Echauz told The Philippine STAR: "Yes, entrepreneurship can be taught in schools. FEU would like to lead the way in creating a nation of entrepreneurs. Our university’s Institute of Accounts, Business and Finance (IABF) has in the last three years produced three world champions, 13 world finalists, 30 national champions and 43 national finalists in the field of entrepreneurship and business planning. These include recognitions earned in the Entrepreneurial Idol Competition at Harvard University, the JCI Best Business Plans of the World Competition in Vienna, Austria, and the Silicon Valley Bommer Venture Summit in California."
One of the reasons the Asian Institute of Management (AIM) is one of Asia’s finest business schools is its talented professors such as Dr. Eduardo A. Morato Jr. I wish to share part of Dr. Morato’s speech to the 2001 graduates of AIM’s Master in Entrepreneurship program, which he ended with his own version of "The Entrepreneur’s Prayer:"
"Lord, you have showered upon me your most kind blessings. I am humbled by the many talents you have given me and accept my responsibility as an entrepreneur to multiply them not for myself and family alone, but for those who share the work in the vineyard you have entrusted me. I likewise accept my role as a steward of your creation and promise to use the Earth’s resources in a sustainable and frugal way. I totally commit myself to the service of humanity, more particularly to my suppliers, my workers, my customers and all those I deal and transact with. To this end, I pledge to fully develop my potential and those of my people so that, together, we may forge a model enterprise that will provide for all our daily needs.
"Teach me, O Lord, to listen well so that I may not make rash judgments. Teach me to communicate clearly lest misunderstandings block my path. Teach me to see the truth because lies and deceit will surely corrupt my ways. Teach me to have compassion lest I put wealth before the welfare of people. Teach me to be wise so that I may lead and mentor well all those whom you have placed under my care.
"Give me, O Lord, the capacity to balance my family life with my business. Give me the generosity to provide decent work to all my employees so that they may relish fine health, send their children to the best schools, live in comfortable homes and enjoy the amenities of a good life. Give me the courage to shun the temptations of unethical business practices. Give me great fortitude to combat greed. Give me the grace to be a good role model and a strong pillar of the community. All these I ardently pray for. In return, O Lord, I will multiply all these blessings a thousandfold and share them with the greatest number knowing very well that much is expected of those who have been given much."