Sinyi Real Estate in China: The Challenges of Maintaining an Ethical Business Culture

Terence Tsai, Michael N. Young (), Bor-shiuan Cheng and Shubo Phillip Liu
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Terence Tsai: China Europe International Business School, China
Michael N. Young: Department of Management, Hong Kong Baptist University, Hong Kong
Bor-shiuan Cheng: National Taiwan University, Taiwan
Shubo Phillip Liu: China Europe International Business School, China

Asian Case Research Journal (ACRJ), 2010, vol. 14, issue 02, 159-185

Abstract: Sinyi was one of the most successful real estate agent companies in Taiwan and China mainland. Sinyi's founder, Chun-chi Chou, embraced Confucian perspective in his management and successfully cultivated a "people-centered" corporate culture for both Sinyi's employees and customers. Mr. Chou proclaimed "trustworthiness and fair dealing" as the guiding principles for the company. This was in contrast to the immature environment of the real estate brokerage industry in China, where immoral real estate agents were common. Sinyi also signed a master franchise agreement with Coldwell Banker Real Estate Corporation (Coldwell Banker) as its China market entry strategy. However, large international competitors and local real estate agents were aggressively seizing market share and it became difficult for Sinyi to sustain its vision and its unique management style with high-speed expansion. The case highlights the business ethics that has been a cornerstone of Sinyi's success and outlines competitor and industry conditions in China's real estate industry, focusing on the following questions: Should Sinyi adhere to its corporate philosophy of righteousness and trustworthiness among its staff? Does Sinyi need to change its business model in countering its competitors' aggressive moves? What necessary measures must Sinyi take in the ever-changing market? What role did Chou's responsible leadership play in Taiwan and would it be working in China mainland's market?

Date: 2010
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DOI: 10.1142/S0218927510001374

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