MANILA - Top executives of the Aboitiz group challenged close to 100 of the best college students of the country to put a premium on integrity and family, as they challenge future leaders not to lose hope in the country despite the many challenges it is facing today.
Aboitiz Equity Ventures (AEV) chairman Jon Ramon Aboitiz said the patriarch of the family business, Don Ramon Aboitiz, did not have much but his word of honor when he started building his empire more than a hundred years ago.
In fact, Don Ramon was close to bankruptcy shortly after the war. “He instead borrowed money from some banks and friends, promising to pay back as soon as the business recovered. Palabra de honor or word of honor was his guiding principle,” Aboitiz told the story of his grandfather.
“In time, every centavo the company owed was paid. Had it not been for his determination, hard work and commitment to honor their word and reputation, the Aboitiz group would not be around today,” he said.
The students, coming from 24 universities and colleges from all over the country, gathered over the weekend in Cebu City for the 4th Aboitiz Future Leaders Business Summit, which has goals of helping participants before they enter the corporate world and fulfilling their role in nation-building.
Jon Ramon said his grandfather soon paid off the debts and built an empire that is now the Aboitiz Group with its stake in power, banking, construction, food and real estate from its humble base in Cebu City.
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