Sinyi Real Estate in Taiwan
(8 pages of text)
As the economies of Greater China continued the process of rapid transformation and industrialization, newly industrialized countries (NICs), such as Taiwan and mainland China, experienced dramatic changes in their business settings. Accompanying the industrialization of east Asian economies, business ethics were in a state of flux, as traditional values were often swept aside to justify profit maximization. In this ever-changing business environment, what were the characteristics and benefits of Chinese business ethics? What role did they play? Could an integrity-based business practice serve as a source of competitive advantage? What business settings were supporting business ethics? Few studies have paid attention to these kinds of questions. Sinyi was one of the most successful real estate agent companies in Taiwan and mainland China. From a Confucian perspective, Sinyi's founder cultivated a people-centered culture for both its customers and employees. By applying business ethics as a central differentiating strategy, Sinyi established an excellent corporate image and was regarded by many as the role model of responsible business. Sinyi service was regarded as premier in Taiwan. Its customer satisfaction rating was also far above the industry average. Trustworthiness and fair dealing were the company's guiding principles. This was in contrast to the-then chaotic environment of the real estate industry in Taiwan, where basic trust between buyers and sellers was rare and deceit existed everywhere. Focusing on using business ethics as a central differentiating strategy, Sinyi had grown into Sinyi Group, which successfully integrated upstream, midstream and downstream industries and established a highly-acclaimed business model. Over the past two decades, Sinyi Group had expanded its operations to mainland China and forged an alliance with global real estate brokerage Coldwell Banker. The case can be used for MBA and EMBA courses in business ethics (in a module on culture and business ethics) and strategic management (in a module on strategic business ethics). This case should provoke holistic thinking and discussion on sustainable business, Confucian entrepreneurship and the relationship between business ethics and competitive advantages.
Real Estate and Rental and Leasing
Taiwan, Large, 2008
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