Growth of a Philippine Firm

(SM Investment Corporation)

SM Investments Corporation (SMIC), also known as SM Group, is a Philippine conglomerate with

interests in shopping mall development and management, retail, real estate development, banking, and
tourism with 208 stores nationwide. It started from a business of small shoe store called ShoeMart(SM) in
Carriedo, Manila until it expanded and transformed into a department store which is the SM and now
became known as the largest conglomerate in the Philippines. The company was founded by Henry Sy,
Sr. on January 15, 1960 and is headquartered in Pasay, Philippines. At this point, Sy set up his second
company, SM Department Store Inc., and began selling stocks to department stores. In 1978, he began
buying supermarkets at the northern end of EDSA in Quezon City. During the 90s when he opened SM
Megamall, his companies were listed in the Philippine Stock Exchange, SM Prime Holdings Inc. By
2005, the SM Investments Corporation was inaugurated. SM Retail is the Philippines largest retailer,
operating department stores and supermarkets across the country. BDO Unibank is the Philippines’
largest lender by assets, with more than 800 branches. SM Prime Holdings became the country’s biggest
real estate company by market value when the Sy family consolidated property assets under SM Prime,
which used to be a mall builder and operator. SM Investments also has interests in China Banking,
gaming and leisure company Belle, Atlas Mining and office lessor The Net Group. The conglomerate is
managed by Sy’s children, Teresita, Elizabeth, Henry Jr., Hans, Herbert and Harley.

The growth of the business seen to be inspiring since no one can have thought that from a small shoe
store it can be a largest successful conglomerate. Mr. Henry Sy took to be an example of being a hard
worker and a wise businessman. He developed his small store into a department store where he even
enlarges it to become a conglomerate. The dedication of Sy in the business payoff and now he become a
successful business man in the country. The management of Mr. Sy somewhat become also his strength
and behind of his success because if there is no management that holds the works in the firm the SM may
collapse. It is also one of his alas where it helps his business to expand even more. This story gives me or
us a lesson that you can’t just be by yourself, you always need someone in a business in order to help
your back and to keep track your business just like Mr. Henry’s management. In this topic I have also
learned that there are no shortcuts in achieving your dreams just like in the story of SM, where I can get
the lesson that all big dreams come from a small start and that is how the SM become one of the largest
conglomerate in the country.