Erfel Charls D.
Sabiano
12-Benguet
Discipline and Ideas In the Applied Social Science
How did henry sy become a
successful Businessman
who is Henry Sy
Henry Sy was born in Xiamen, in China in October 1924. Henry
Sy was not born with the silver spoon in mouth. Since a toddler,
he had aimed to become the best businessman, so went to try his
luck in other countries. At the age of 12, he went to Philippines
to change the miserable life of his father in a foreign country.
He was always committed with his goal to get succeed. He did
everything that helps him to alleviate life and work hard till
night. He enrolled himself to a school. He gets graduation degree
in commerce from “Far Eastern University”. He sold overrun and
rejected shoes. He wants to change his life. He never gives up
and always try hard to achieve the best success. After failures
in business, he stood back-up and attain a goal.
Earlier business of Henry Sy
Henry Sy. Would buy goods from “Divisoria Flea market”. He
carries all goods on his back and then sells them in a small
store of her father called (sari-sari). When both going to close
the store, they would sleep in a small space to makes their way
of living much better. He decided to make some extra income, so
he had no time to play with friends. World war-2 came and the
store of his father eventually burned and robbed. He did lots of
selling and buying many odds things during war and helped his
family to survive. After the war, he ventured into purchasing
American Shoes that were imported by the Enterprising Gis.
Evolution of SM Mall
In 1958, he established a shoe store in Quiapo, Manila. The
name of the store was “Shoe Mart”. For the time, he was
purchasing many shoes, leather goods, and accessories. He hopes
to change the way of shoe manufacturer strategy. He senses lots
of opportunities that enable him to open Shoe Mart “SM” which the
world first air-conditioned shoe store. The store merchandise
shoes in a classy and inviting format. With the best success
story of the store, he decided to open more stores. But his dream
not came true because he was unable to get more suppliers. Most
manufacturers refuse to listen to him at that time. He did not
cooperate with the volume that he needed. Because of these
reasons, he shifted gradually toward Apparel and other
merchandise with the help of her mother. The business grew in
numbers instead of the size and serving various more modest
markets. The business also expands from departmental stores to
hardware stores, supermarkets, appliance superstore, and others.
As we mentioned above that Henry Sy. Was one of the greatest
bankers so he also looked into the banking business. He
established the “Banco de Oro” bank that was a medium-sized bank.
The members of the business were considered conservative in the
lending process. The business strengthened and reorganize while
developing the best growth strategies that started working in
2000.
SM Investment; Greater Achievement of Henry Sy
SM Megamall is the world second largest shopping mall in the
Philippines and the 9th largest mall in the world. Sy’s family-
owned SM investment is the holding venture for SM Retail and is
the largest chain of departmental stores of supermarkets. Based
on the 2018 Forbes World’s Billionaires, the estimated net worth
of Sy is $20 billion. It is three times larger than the upcoming
fortune of the richest Tycoon. In 2017, Sy stepped down as the
chairman of SM investment Co. He gets the honorary title of
“Chairman Emeritus” as the recognition for the founder of SM
group.
Awards & contribute
Henry Sy, Sr. received numerous awards and recognitions
throughout his career, acknowledging his significant
contributions to business and philanthropy in the Philippines.
Here are some of his notable awards:
- Management Man of the Year in 1999 by the Makati Business Club
- Honorary Doctorate in Business Management in January 1999 by De
La Salle University
- Forbes Magazine Heroes of Philanthropy in 2009
- 1st Chinese-Filipino recipient of the PCE Big Brother of
Filipino Entrepreneurs Award in 2006
- 1st Chinese-Filipino recipient of the PRA President’s Award in
2005
These awards highlight Henry Sy’s impact on the Philippine
business landscape and his commitment to social responsibility.
