Confucianism In Chinese Family Businesses

Confucianism In Chinese Family Businesses

Confucian values have made Chinese family businesses models of stability and prosperity, laying the foundation of a successful family business. Virtue and morality. Confucianism emphasizes developing and keeping these two values among the people. Its goal is social harmony—each individual knowing his place in the social order and playing his part well. When Duke Jing of Qi asked Confucius how to handle governance properly, he replied: “There is government when the prince is prince and the minister the minister; when the father is father and the son is son.” Ethics. Confucianism also fosters ethics and morality in business. One of the great virtues is filial piety, which must be shown to both the living and the dead, even to remote ancestors. Filial, which means “of a child,” characterizes the respect shown to parents by a child. The idea of filial piety has influenced the Chinese legal system. A person would be punished harshly if he had committed a crime against his parent. In Chinese families, fathers often exercise enormous power over their children. It is also the basis of a law requiring grown-up children to provide for their parents. Relationships. This is central to Confucianism, where one’s particular situation begets duties in relation to others. The individual stands simultaneously in several relationships with different people – as a junior in relation to parents and elders or as a senior in relation to younger siblings. While juniors owe the seniors reverence, seniors must also show benevolence to juniors. This mutuality is prevalent in Asian cultures even to this day. Influence on family business. Conflict strategies are usually based on concern...

Anticipating the Real Estate Bubble?

To register or to reserve slots just fill out our Registration Form and email us at info@octopusbranding.net Date: December 04, 201 Time: 9:00 AM to 4:00 PM Venue: Emerald Function Room, Harolds Hotel, Gorordo Ave., Cor. Rosal St., Lahug, Cebu City Seminar Details: Avoid the property bubble, attend a seminar The property sector has been on upswing for years.  But some fear the bubble would burst anytime.  Prepare yourself for the worst. Attend, participate and get the best advice from one of the country’s most-sought after real property expert, Prof. Enrique Soriano III.  He will conduct a seminar, “Anticipating the real estate bubble? Manage your growth during uncertainties,” on Friday, December 04, 2015, 10 a.m. to 4 p.m. at the Harolds Hotel, Cebu City. Prof. Soriano has 27 years experience in the property sector and is known as the family business coach in the ASEAN. He is also the senior advisor of Wong and Bernstein Group.   Joining him as Guest Speaker is Claro Dg. Cordero Jr., MSc  Associate Director, Head- Research and Valuation of Jones Lang LaSalle Philippines, Inc. Limited seats are available. Book now!  For more details, please contact Che/Jeric 556-9707/0915-1813057/ 0915-9108686 or email...
Razon’s ICTSI Expands Manila’s Container Terminal For P1.6 Billion

Razon’s ICTSI Expands Manila’s Container Terminal For P1.6 Billion

The Manila International Container Terminal (MICT) will increase its capacity by 18 percent by the end of the year when it completes its P1.6-billion expansion program, the BusinessWorld reported. MICT is the country’s largest and most modern port terminal operated by the Razon-owned International Container Terminal Services Inc. (ICTSI), a publicly listed firm. The container terminal will have more storage as an increased volume of cargo is expected with the coming of Christmas season. The terminal’s Berth 7 yard will be widened by six hectares by year’s end. Started last year, the expansion program will take 20 months to complete. It will add 500,000 TEUs of yard capacity to MICT, which has an annual capacity of 2.6 million TEUs. To complement the expansion of MICT, the company has set aside P1.4 billion to develop a 21-hectare inland container depot in Laguna. It has also ordered six new rubber tired gantry cranes, which may be deployed at either the MICT or its Subic operations when needed. Pending the completion of the yard expansion, MICT has rolled out its terminal appointment booking system (TABS) ahead of the anticipated increase in container movement in the Christmas season. TABS will lessen road traffic and prevent container buildups, providing real-time information on container status of cargoes in and out of the MICT. In May 2013, the ICTSI contract with the Philippine Ports Authority was extended for another 25 years, covering the completion of additional investments in port equipment and infrastructure. The contract also provided for the payment of P670 million upfront fees and the turnover and execution of deed of transfer of port facilities...
Jollibee Takes A Bite Out Of America’s Burger Business

Jollibee Takes A Bite Out Of America’s Burger Business

Jollibee, the first Asian and the largest Filipino food company, can now influence how a burger should taste in America. The Tan Caktiong-owned and publicly listed Jollibee Foods Corporation (JFC), through its 100-percent wholly owned subsidiary Be Good Inc., will buy this year 40 percent of Smashburger Master LLC in the US for US$99 million, a disclosure to the Philippine Stock Exchange said. JFC said this is the company’s “largest acquisition and largest investment outside the Philippines” to date. “This acquisition will make JFC’s presence in the US more significant, going beyond the Filipino market and serving mainstream consumers in the US$100-billion US burger market,” said Tony Tan Caktiong, JFC chairman. The burger market sales in the US are estimated to be three times larger than the pizza, sandwich or coffee segment, he said. JFC now operates 87 restaurants in the US, with 32 Jollibee stores, primarily catering to Filipino customers. It also has 33 Red Ribbon, 19 Chowking and 3 Jinja. Its businesses in the US account for 5 percent of its worldwide sales. Tan Caktiong said it will also “make the US one of JFC’s most important markets and drivers of long-term growth along with the Philippines, China and the Filipino markets abroad.” Rick Schaden, chairman and founder of Smashburger, said “as founders and entrepreneurs, we both have built teams that focus on bringing the highest quaility and the best tasting food to our restaurant categories.” He continued, “we share a true passion for the restaurant business having opened and operated our very first restaurants.” “We believe our companies still cultivate that spirit today as we initiate...
Learning The Ropes Before Going To The Top

Learning The Ropes Before Going To The Top

When their children graduate from college, parents who have a family business usually ask their children to join the business. However, Bryant William Cuison took a different route. The 34-year old business management graduate of De La Salle University opted to work in the corporate world to hone his background in business. He also has a Master’s in Entrepreneurship from the Asian Institute of Management. Cuison, general manager of Wilkonstruct Corp, worked first with SM Malls for the first three years of his corporate life. He then joined Ayala Land Inc. (ALI) until 2014. “I gained valuable exposure working with these two property heavyweights,” says Cuison. “In SM, I was exposed to the development of condominiums. Meanwhile, I learned valuable knowledge on property development in ALI,” adds Cuison. In 2014, Cuison learned from his father that he was needed to join the business because he was told that it was time for him to slow down. “My father asked me to take over the business because he wanted to retire. Together with my brother, we took over the business,” says Cuison. The Cuison patriarch worked as an architect in several countries until 1990. His return to Pangasinan led him to the establish Cuison Builders. “My father saw vast reconstruction opportunities in the Northern Luzon right after the 1990 tremor,” notes Cuison.  Cuison Builders was later incorporated into Wilkonstruct. Wilkonstruct, built on a strong, customer-oriented foundation, is into general construction services like design and build and project management. Its team of construction professionals has helped the family-owned enterprise grow into a reliable, fast and cost-efficient company. Cuison says the corporate experience...