In a paragraph format, what learnings can you get from Henry Sy’s life? CASE 6.
ID: 369733 • Letter: I
Question
In a paragraph format, what learnings can you get from Henry Sy’s life?
CASE 6. HENRY SY AND LEADERSHIP
Henry Sy, known as the “Father of Philippine Retail” is considered the number one in Philippines’ richest man. He was born October 25, 1924 in the village of Ankhue, in the Jinjiang county (now city) of Fujian province, south China.
His business success story as a Filipino entrepreneur has been phenomenal. In 2002 he astounded most analysts when he tapped Asia’s wealthiest billionaire, Hong Kong’s Li Ka-Shing, to invest in the Philippines through a joint venture between the SM group and Li’s Watson retail chain.
His retail and other businesses aside, Sy is the power behind Banco de Oro Universal Bank and the 85-year old China Banking Corp., which his group took over in early 2005. He became a major force in promoting Philippine tourism after taking control of Tagaytay Highlands, a prime property and one of the projects Highlands prime Inc. (the real estate arm of publicly- listed Belle Resources), where Sy and sons Henry Jr. and Hans sit as board members. Tagaytay Highlands is a strategic complement to similar projects in Baguio and Cebu, and that gave the Philippines “a world- class resort community.”
His dream project, the Mall of Asia, completed in the Manila Bay reclamation area, sits on 90 hectares. The Mall of Asia is envisioned to be the premiere destination mall in the Asia Pacific region.
It is in the mall business that Sy has eminently distinguished himself. It is interesting to note that Sy’s SM Group of Companies, one of the Philippines’ biggest conglomerates, started as a shoe-retailing store on Carriedo Street in Quiapo, Manila.
Henry Sy, known as the “Father of Philippine Retail" is considered the number one in Philippines richest man. He was born October 25, 1924 in the village of Ankhue, in the Jinjiang county (now city) of Fujian province, south China. His business success story as a Filipino entrepreneur has been phenomenal. In 2002 he astounded most analysts when he tapped Asia's wealthiest billionaire, Hong Kong's Li Ka-Shing, to invest in the Philippines through a joint venture between the SM group and Li's Watson retail chain. His retail and other businesses aside, Sy is the power behind Banco de Oro Universal Bank and the 85- year old China Banking Corp., which his group toolk over in early 2005. He became a major force in promoting Philippine tourism after taking control of Tagaytay Highlands, a prime property and one of the projects Highlands prime Inc. (the real estate arm of publicly- listed Belle Resources), where Sy and sons Henry Jr. and Hans sit as board members. Tagaytay Highlands is a strategic complement to similar projects in Baguio and Cebu, and that gave the Philippines "a world- class resort community." His dream project, the Mall of Asia, completed in the Manila Bay reclamation area, sits on 90 hectares. The Mall of Asia is envisioned to be the premiere destination mall in the Asia Pacific region. It is in the mall business that Sy has eminently distinguished himself. It is interesting to note that Sy's SM Group of Companies, one of the Philippines' biggest conglomerates, started as a shoe retailing store on Carriedo Street in Quiapo, Manila. Knowing about Henry Sy's business empire, how would you describe his leadership from theExplanation / Answer
Henry Sy is a visionary leader and entrepreneur who forecast the future of Asia Pacific accurately. He designed his business based on the futuristic demand and how people can be attratced towards his country. He never planned based on his personal business alone, instead of that he worked hard for the enhancement of entire country in terms of tourism an other supportive development activities. They made a join venture with SM group which provide them enough cash flow and faciltiiy management to gearup the business and at the same time did investment which promote tourism to the Philipines and other Asia Pacific countries. The strategic outlook from his business thought helped them to develop a world class resort community with sufficient manpower and other service providers . The Mall of Asia is his other milestone which is envisoned as a the premier destination of APAC region. Thus he proved through his vision that a business can be sustianable one if all the external factors are favorable and make them supportive. This will enhance the business as well as the entire country's outlook.
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