That is the sharing of Ms. Teresita Sy-Coson (74 years old), the richest woman in the Philippines. The Vice President of the multi-industry corporation SM Investments is considered to have a strong personality and excellent leadership ability.
"We grew up in a very strict environment. Dad expected us to prove ourselves... So my siblings and I studied hard to achieve what we have today," Sy-Coson said.
Sy-Coson was born in 1950 in the Philippines, the eldest of six children. At times, she felt she had no choice but to take over the family business. Being the daughter of retail king Henry Sy gave her a head start, but also required her to work harder to establish herself.
Not just an heir
Working at a shoe store was the first step in Sy-Coson’s business education. In 1970, Sy-Coson graduated with a degree in commerce from Assumption College in Manila, Philippines. She planned to pursue a master’s degree, but her father encouraged her to enter the business world.
Two years later, at the age of 22, Sy-Coson was given control of her family's first department store. Her career grew rapidly in the years that followed.
In 1985, she helped her father establish his first shopping mall, and in 1990, she became president of SM Department Stores. At the time, the division operated with just 10 stores, but under Sy-Coson's leadership, it grew to 144 stores, with sales of $2.4 billion in 2011.
Today, SM Investments is a leading player in the retail sector in the Philippines, with a network of 300 stores nationwide. In addition to retail, the group also invests in shopping mall development and operation, real estate development, banking, entertainment, hotels and tourism .
Driven by passion
Sy-Coson is known for her hard work and discipline, which is evident in the outstanding success of SM Investments. Despite her great success in her career, Sy-Coson maintains a humble attitude. She is described as a simple and humble person, rarely accepting speaking engagements.
Those who have worked with Sy-Coson have different words to describe her management and leadership abilities. Sy-Coson’s partner at BDO Unibank, Nestor Tan, describes her leadership style as both strategic and thoughtful.
Despite her reputation for being frugal, Sy-Coson is willing to invest when the situation calls for it, as evidenced by her family’s multi-billion-peso investment. As a leader, she also cares deeply about her employees. It is not uncommon for her to buy medicine or help employees see a doctor when they are sick.
To BDO Capital Chairman Ed Francisco, Sy-Coson is tough but kind, open to new ideas and supportive as long as they are well thought out. SM Prime Holdings Chairman Jeffrey Lim appreciates Sy-Coson's innovative and collaborative spirit, praising her attention to detail and ability to multitask.
The leader also shared the lessons she learned from her father, including the importance of passion, determination, and persistence in pursuing dreams to achieve success. "Beyond intelligence and education, it is passion that makes the difference. It increases a person's willpower. In fact, it is the fuel for willpower. Passion makes the impossible possible," Sy-Coson said.
Despite her success, Sy-Coson remains ambitious. One of her dreams is to study architecture and build a skyscraper. "I don't spend a lot of time reflecting on what I've achieved, because for me it's not beneficial. I don't worry about it that much. I just keep moving forward," Sy-Coson said.
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