2014 GUAM BUSINESS MAGAZINE EXECUTIVE OF THE YEAR: NORMAN T. TENORIO
‘Success comes to those who take calculated risks’
The 2014 Guam Business Magazine Executive of the Year has this one simple advice to businessmen or businesswomen who would like to follow his trailblazing path: Don’t be afraid to take calculated risks.
“Success comes to those who take calculated risks. Do not be afraid to fail, as failures result in lessons that build knowledge and strength,” said Norman T. Tenorio, managing director of Joeten Enterprises Inc. and president and CEO of Pacifica Insurance Underwriters Inc. on Saipan.
“Above all, be humble, honest, wise, and be fair to both your employees and customers,” said the son of local retail business pioneers Jose C. “Joeten” and Soledad “DaiDai” Tenorio.
Tenorio said he began his career immediately after receiving his business degree from Marquette University in 1974.
“I immediately returned home to help with our family business where I found myself working from the bottom up. But before I left for my education in the states to complete my high school years, I fondly remember my scope of responsibilities. My parents were smart in giving me the full experience in the front line in order for me to better understand operations at a very early age to be able to make effective business decisions at the management level,” he said.
Another secret to becoming a successful businessman is taking no short cuts, Tenorio said.
“There is no specific formula for success. But to stay ahead of the game, you need to take risks, adapt to change, embrace teamwork, and set your standards high.”
He said he is proud to have garnered the Guam Business Magazine Executive of the Year plum.
“The awardee of the Executive of the Year should be someone who has achieved a high level of success in business, have taken crucial roles in organizations affecting government, and one who has made significant contributions to his community. I believe I was selected because I have all these and so much more.”
What makes Tenorio’s award more special is he’s the second executive from the conglomerate to be hailed for such an acclaim as 2014 also saw Shirley Sablan win the First Hawaiian Bank and Guam Business Magazine Businesswoman of the Year. Sablan is the executive vice president and general manager of Pacific Insurance Underwriters Inc.
“The BWOY and the EOY in 2014 were both awarded to both Shirley and myself, respectively. Words cannot explain how proud I am of our company and our accomplishments. This award represents the entire region in Micronesia, which includes the Northern Mariana Islands and Guam, but I am certain the people of the CNMI share the joys of our wins, as it is rare that both awards are given to executives from the CNMI in the same year. This would not be possible if it weren’t for the support and love of our family, friends, patrons, and business associates,” he said.
Tenorio is also president of Tropical Instant Press Inc.; secretary/treasurer of Saipan Shipping Co.; president of Saipan Stevedore; president of Advance Carrier and is on the boards of directors for Guahan Insurance Services and Nanbo Guam Ltd., which does business as Nanbo Insurance.
He is a trustee of the Joeten DaiDai Foundation and also makes charitable contributions to various sports events, the Marianas Islands Nature Alliance, and the American Red Cross, among other organizations.
Jose C. “Joeten” and Soledad “DaiDai” Tenorio started Joeten Enterprises in 1949. The company is now a conglomerate that includes Joeten Motors Co.; J.C. Tenorio Enterprise grocery market, department store and restaurants; Joeten Ace Hardware; the Joeten Superstore wholesale club; Marianas Management Corp.; Construction Material & Supply Inc.; Joeten Wholesale; and franchises of The Athlete’s Foot and Napa Auto Parts.