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Sinyi Real Estate Case

In: Business and Management

Submitted By saf59
Words 1820
Pages 8
Sinyi Real Estate in Taiwan As countries in East Asia experience rapid economic growth and transformation, many companies ignore ethical business practices for profit maximization. This goes against traditional Confucianism, which prioritizes customer satisfaction and seeks to avoid exploiting customers for profits. Sinyi, founded by Chun-Chi Chou in 1981, has been one of the most successful real estate companies in mainland Asian markets. Chou has successfully developed a people-oriented culture, which has lead to an excellent corporate image and satisfied customers. However, challenges have accompanied Sinyi's recent growth into Asian markets, where unethical business practices exploit clients for profit maximization. Exponential growth at Sinyi has made it extremely difficult to maintain a uniform ethics-based culture. Chou plans to expand his business while maintaining rigid ethical principles focused on the welfare of customers above profit maximization. Sinyi has strived to transmit this ethical culture to employees and the community by creating continual education and outreach programs. In a chaotic Taiwanese real estate industry, Chou has realized that a "people centered" business is key to success. While some competitors use price fixing to cheat customers, Sinyi has taken affirmative actions towards applying social responsibility in management concepts. In accordance with Confucian teachings, Chou believes that the needs of both clients and employees should come before profit maximization. If this does not hold true, the firm will loose its value to exist; this makes the firm a co-dependent organization focused on fulfilling the interest of organization members. Chou claims "Sinyi is surely not a co-dependent organization because we put our customers' or our external stakeholders' best interests in the first place. We are not just profiting

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