Terence Ong, Managing Director, Pernod Ricard Taiwan
The spirits industry, characterized by its rich history and diverse offerings, represents a dynamic sector that caters to a global audience with an array of captivating and innovative beverages. From classic whiskey and vodka to exotic liqueurs and craft cocktails, the spirits industry thrives on the artistry of distillation, blending, and branding. In the heart of this vibrant industry stands Terence Ong, the Managing Director of Pernod Ricard Taiwan. Terence is not just a seasoned professional; he is a visionary leader with a passion for delivering innovative and commercially effective branded consumer products. With a background spanning several years in Marketing Strategy, business management, and sales roles, Terence’s journey is marked by a commitment to building and maintaining profitable growth through a blend of innovation, people development, and commercial excellence.
Terence’s entrance into the spirits industry was serendipitous, stemming from a career trajectory that included pursuing a law degree and working for Singapore Airlines. Over the past 27 years, Terence has not only witnessed the evolution of the industry but has actively contributed to it. His journey reflects a profound understanding of the intricacies of marketing, brand building, and the essential role of human connection in the spirits business. “When I first joined this industry, I found marketing extremely exciting. I took my second degree in marketing during my time in the spirits industry. It’s about building brands and seeing them grow, like nurturing a baby from its early stages,” explains Terence.
Terence’s journey within the spirits industry has been transformative, shaping his perspectives on leadership and entrepreneurship. “Throughout my career, I have had the privilege of being mentored by experienced individuals in the industry. I’ve always been open to learning from them, both the positives and the negatives. It’s about continuous improvement and growth,” explains Terence. This commitment to learning and growth has been a cornerstone of his success.
The avid entrepreneur entered into the alcoholic beverage industry at the bottom rung, working in marketing. However, Terence’s passion for the spirits industry led him to pursue additional degrees in marketing. “I always like how brands are being built, and I actually see progress. It’s like nurturing a baby right from baby steps, providing them with great foundations, and subsequently seeing them grow over the years. That feeling of achievement is why I continued in my career in marketing,” says Terence.
Entrepreneurial Mindset and Leadership Approach
Terence’s entrepreneurial approach is grounded in the belief that effective leadership is a byproduct of making decisions as if one’s own company is at stake. This mindset is complemented by his emphasis on asking multiple questions, providing various solutions, and recommending the best course of action with thorough explanations. “Entrepreneurship is about seeing any job as if it’s your own company. Ask yourself, ‘If this were your own company, would you make this decision?’ This mindset ensures that decisions are made in the best interest of the company, asserts Terence. He adds, “I find marketing extremely exciting. It’s like nurturing a baby right from its baby steps, providing them with great foundations, and subsequently seeing them grow. That feeling of achievement is what keeps me in my career in marketing.”
In navigating the initial challenges of starting a career in the spirits industry, Terence’s openness to taking on tasks others may find tedious proved to be an asset. “I took on board any work that other people didn’t want to do. It helped me a lot because people think it’s tedious, but I said, ‘Okay, I’ll take it on board.’ I’m not afraid to ask for help. Throughout my career, I’ve had many mentors and coaches to help guide my journey,” says Terence.
Terence’s belief in the power of multiple solutions and his ability to provide recommendations with thorough explanations have set him apart in the industry. “I’m not afraid to ask questions and discuss them on a professional or private level. I make it a point to come up with multiple potential solutions and always provide my recommended solutions, explaining why. In most cases, my recommendations are taken and prove to be very effective,” asserts Terence.
Guiding Principles: Human Connection and Sustainability
As the Managing Director of Pernod Ricard Taiwan, Terence has played a pivotal role in the company’s success. The extensive and diverse portfolio of brands presents both opportunities and challenges. “Having a very diverse portfolio of brands is an advantage. Not many companies have such diversity. We can address consumer needs as a priority, and we are willing to adapt to changes to fulfill consumer satisfaction,” explains Terence.
Terence’s leadership is guided by the values of entrepreneurship, conviviality, and consumer-centricity. He believes in addressing consumer needs as a priority and emphasizes the importance of open communication and agility in the organization. “We value entrepreneurship, and we believe in conviviality and consumer-centricity. It’s about addressing consumer needs as a priority and being open to feedback and change,” states Terence.
In addition to business success, Terence places a strong emphasis on human connection and sustainability. “Human connection is crucial, especially in today’s society after COVID-19. Sustainability is not just about products; it’s about our responsibility to the community, and the environment, and creating positive impacts,” says Terence.
Aspirations and Legacy
Terence’s entrepreneurial aspirations revolve around leaving behind a sustainable growth model, ensuring the organization remains a leader in the industry, and making positive contributions to the community and the environment. “I want to leave behind a sustainable growth model, ensuring the organization continues to grow in stride. It’s about creating a legacy that includes a diverse and successful business portfolio, responsible practices, and positive contributions to society,” says Terence.
In offering advice to aspiring entrepreneurs entering the spirits industry, Terence encourages them to embrace human connections, be adventurous in exploring diverse products, and develop a passion for sharing stories. “You need to enjoy human connections. If you don’t love enjoying people and sharing, it’s very difficult to start up in this industry. Each product has its own story, and you need to be adventurous to understand and know what these products are,” advises Terence.
Terence concludes with a simple yet powerful mantra for success in the spirits industry: “Make a new friend every day. In making friends every day, you get an opportunity to share our brands, our portfolio, and our products with new people. Don’t underestimate the strength of the power of making a new friend every day.”