an afternoon with the dayrit siblings

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Material No.: 4 Call No.: LG5.0.2-2009-4
Title: an afternoon with the dayrit siblings Author: Luis T. Cruz, Jr.
Management Function: Leadership and Governance and General Management Management Sub-function: Integrative Management
Type of Material: Case Study Industry or Sector: General
Supplements: Issue Focus: Entrepreneurship
Copyright By: ACEME, Inc. Copyright Year: 2009
Published by: ACEME, Inc. Published in: Makati City
Year of Setting: 2009 Country of Setting: Philippines
Additional Topics: Family Enterprise,Managing Turnaround,Self Mastery Source(Course): Master in Entrepreneurship
Body Length: 8 pages Annex/es Length: 0 pages

When both parents died, the Dayrit siblings were left in disarray as one crisis after another besets the various businesses their parents had set up. But these challenges had become their trampoline to get right back on track leading them to coming out of their "hibernation" phase. The "hibernation" phase, as the Dayrit siblings called it, was necessary that allowed them to slow down, took a step back and saw what was the real financial picture of the family's enterprises. With the help of a senior advisor and open communication, they pulled themselves out of the ditch that once almost swallowed them up. The case initially discusses how the parents prepared their children to become entrepreneurial, although most of the time, they ultimately make the decisions as founders/owners but nonetheless the exposure and experience that the children gained did a lot for them to survive such unfortunate string of events. By strictly adhering to their parents' philosophies and core values, the siblings turned out to be as prepared as they could ever be to bring the family's enterprises to the next level. 

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