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Business report: The Scandal Inside SHKP. Management Study


Community College of City University

BUS10306 Management

Group Written Report

The Scandal Inside SHKP

Mak Kan Wai

word counts: 2,252

Submission date:14th November, 2016

Introduction:

Management can lead a company to success. however, human is emotional, their decision can be affected easily. especially for managers, they have higher position and bigger responsibility than others, if they once attracted by side factors and conduct unwisely decisions, the consequences may not only be in personal, whole business may get suffer. so, it is crucial for managers to have a mind, a horizon, to make the company prosperity.

In this report, we aim to investigate the impact brought by the misbehavior of Thomas Kwok and other managerial staffs, inside the family control enterprise – Sun Hung Kai Property. The motive behind for Kwok to make the decision, whether the power of Kwok exceed the positon he has, whether family-style management is good for SHKP .

The whole report is divided into seven parts. The first part of the report talks about background of the group. The second part will outline the whole scandal from the head to the result of it. the third part will have some in depth analysis and finding on the scandal. the forth and the fifth part will be the conclusion and recommendations regarding to the issue. the last part will be references and appendices

The report covers issues on decision making, motivation, organization structure and ethics.

Background:

( Retrieved from )

Sun Hung Kai Properties Ltd is a listed company based in Hong Kong. The company is founded by Kwok Tak Seng and it is in family control.

It becomes the most valuable real estate companies in Hong Kong and in Asia, and the world second most valuable real estate company. Kwok brothers having the largest share among the company. It aims to provide premium-quality residential and commercial projects for sale and investment. It employs millions of people who expertise in land acquisition, architecture, construction, engineering and property management.

Main strategy

(Retrieved from )

Sun Hung Kai Properties puts its long-standing belief in 'Building Homes with Heart' into priority, by developing residential area with the highest quality and offering high class service to the client. By contributing the best goods and services to the community to turn Hong Kong a better place to live and tighten the bond of belonging in Hong Kong

Business (Retrieved from )

The Group's major type of business is the development of property for sale and investment. It also diversifies in other type of business:


In hotel sector, it provides property management, construction of hotel, Insurance and mortgage services. In telecommunication sector, it provides information tec.....[read full text]

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In year 2007 , SHKP use 4.05 billion dollar to purchase a land at tai wai from 3 companies, indirectly though the sister company .the land has granted by ORG to build 816 units ,altogether 52.1 million square feet residential areaThroughout the transaction, ICAC suspected that SHKP pay 1.5 billion more than the value of the land, and chan transferred that amount to hui as a tool for, so SHKP is under investigate at that time.


Rafael Hui Si-yan, Hong Kong's former chief secretary, was found guilty on December 19,2014. hui was sued for collecting millions of dollars under the table and hui was in a trial. The news seriously shock the citizens and damaged the reputation of such a clean position of chief secretary.

The same trial found Thomas Kwok Ping Kwong, he was sued by market capitalization, guilty of conspiracy to commit misconduct in public office. His brother and co-chairman, Raymond Kwok Ping-luen, was acquitted on all charges.

Follow up of the company:

SKHP announced the resignation of Thomas Kwok and another convicted company officer, Executive Director Thomas Chan Kui-yuen, after the court rulings were being announced. the spokesperson of the group said the normal daily business of SKHP have not been affected by the bribery issue and will not be affected by these changes, SKHP also post the speech online as a notice without elaborating on the circumstances.

History of the bribery:

Hong Kong's most controversial bribery trial in recent history began in 2012 when Hui, the Kwoks, long-time SHKP executive director Thomas Chan and former Hong Kong stock exchange official Francis Kwan Hung-sang were charged with crimes relating to cash and other benefits that Hui received while in public office from 2000 to 2009.


The prosecution alleged that bribes were paid in exchange for having Hui as SHKP's "eyes and .....

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Analysis and findings:


Ethics

Thomas Kwok and other members face ethical dilemma that blinded by personal benefit and harm organizational benefit. people around were getting hurt, from the fellow shareholders to his family members. Thomas made a decision that violates moral right rule and justice rule. only a small group of people can gain the profit.

The reputation of Thomas already gone. If Thomas was not charged, his subordinate might follow him and create a corrupt atmosphere inside the company.

In society ethic, Thomas disobeyed the laws to have misbehavior.

In Professional ethic, Thomas holds a master of business administration degree from London Business School, University of London and a bachelor’s degree in civil engineering from Imperial College, University of London. with those high educational level, Thomas should notice that he is making mistake. Once the unprogrammed decision being made, he will make those institute be ashamed.


In individual ethic, it should have a good impact the experience of others when used to govern an individual's social or business related behavior, and such ethics should not have a ne.....

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According to Maslow’s Hierarchy of Needs, all people seek to satisfy five basic kinds of needs. However, Thomas born in a tycoon family, physiological needs, safety needs, belongingness needs, esteem needs and self-actualization needs, he already being satisfied. once a need is satisfied, it ceases to operate as a source of motivation.

Organization structure

Family-style management that can sustain for a long time, the key is professional control, determination and ability to centralize power. From the start till now, SHKP faces challenges from balancing the control and the performance of business.

McKinsey & Company has a survey showing that, less than 30% of family-style management can pass to the third generation and the group is one of the 30%.

The disadvantages of it will be: limited family members hinder the business development and the position of male is higher in Chinese traditional mindset, once the distribution was not well defined, those family disputes will harm the business future.

Recommendation:

Ethic

  • Appoint an ethic officer to monitor an organization’s practice and procedures to be sure they are ethical

  • Strive to hire people have a sense of personal ethics and care about it

  • Require managers to consider ethical aspects of business decisions

  • Promote moral courage by not taking retribution against employees who exercise moral courage, say no to superior, or complai.....

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Control Environment

  • develop a promise towards integrity and ethical values by setting up a group that will be separate from normal business and monitor of the development and performance of internal control

  • holds individuals accountable for their internal control responsibilities in the pursuit of objectives

    Risk Assessment

specifies objectives with sufficient clarity to enable the identification and assessment of risks relating to objectives

identifies risks to the achievement of its objectives across the entity and analyzes risks as a basis for determining how the risks should be managed

considers the potential for fraud in assessing risks to the achievement of objectives

identifies and assesses changes that could significantly impact the system of internal control

  • Monitoring

The system is designed to provide reasonable, but not absolute, assurance against misstatement or loss, and to manage risks of failure in the Group’s operational systems.

The aim of the control system is to protect assets from inappropriate use, to ensure

It is l.....

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