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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 a.....[read full text]


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The land can be converted into different use; the development of the land will be multifunctional that can match to future government policies easily


Group Finance:

the Group earned high credit ratings from two credit rating agencies.

'A+' from Standard & Poor's and 'A1' from Moody's

The Group is committed to considerate financial policies, maintaining high liquidity and low gearing.

Most of the group investment and financing is in Hong Kong dollars, which carry very little foreign exchange risk.

Customer Service:

The Group puts clients into the first ranking and it always collect the opinions of customers through numbers of medias and channels to advance and improve to the finest service.

Property management companies: the high level of after-sale service conducted by Hong Yip Service Company Limited and Kai Shing Management Services Limited had been recognized


SHKP Club - The Group established the SHKP Club to enhance customer service and .....

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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.


.....

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He also failed to declare a HK$2.4 million unsecured loan and his free use of a luxury flat owned by SHKP while he was head of the Hong Kong Mandatory Provident Fund Schemes Authority.


The prospect of not having a Kwok at the helm of SHKP, a company co-founded by the late family patriarch Kwok Tak Seng, brought uncertainty to a business empire which made HK$21.4 billion in net profit in the financial year to Jun. 30. Raymond Kwok, who continues alone as chairman, said as he left the High Court that he was pleased his name had been cleared but "unhappy" that his brother, Chan and Kwan were convicted.

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 th.....

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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 b.....

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To give the person a chance that not being obliterated within this sector.


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 s.....

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To evaluate incompleteness inside internal control periodically and handover the problem to the responsible team to make correction.


The Managers are responsible for the design, implementation and maintenance of the internal controls.

Appendix

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