Saturday, November 12, 2005

Teresita Sy-Coson: No. 46 on Fortune mag's list

There are several interesting story feature about Teresita Sy-Coson, vice-chairman of the SM Investments Corp. Note that the SM group of companies are known for their early adoption of e-commerce in the Philippines.

SM's Sy No. 46 on Fortune mag's list
FOR THE FIFTH STRAIGHT year, SM'S Teresita "Tessie" Sy made it to Fortune Magazine's annual list of the 50 most powerful women in business outside the United States. She ranked No. 46, up from last year's No. 47.

The Philippines: Family Loyalty
In many family businesses, particularly ethnic Chinese companies in Southeast Asia, women don't just one day decide to join. Sometimes, they're basically drafted. That's essentially what happened to Teresita Sy-Coson in the Philippines. The oldest of six children, at the age of 13 Ms. Sy-Coson started working in one of her family's shoe stores near her home in Manila. Today, she's a 54-year-old widow who often puts in 10-hour days and has never worked outside the company.

Innovation, best practices key to SM’s success
When asked to characterize SM as a Brand, SM Group of Companies President Teresita Sy-Coson stated the group’s vision for SM. “We would like to be the store of the people. We would like to be a place that many people of all ages will love to be in,” Ms. Coson said during the recent Business World Outlook Forum on the retailing industry.

SM history rooted in crisis, says heir apparent
SM’s history is rooted in crisis, according to Teresita Sy Coson, vice president and daughter of founder Henry Sy, thus the mall developer is not afraid of the current economic crunch. She said the group is continuing Bucking the economic crunch, the SM Group is continuing its expansion here and abroad, opening two malls next year, on top of the four scheduled this year plus two more malls in China.