Chavalit Frederick Tsao, Chairman of IMC Pan Asia Alliance Group (IMCPAA), has recently encouraged Asian family organizations to incorporate sustainability practices into their business strategies. Asserting the role of such practices in enhancing longevity and vitality of enterprises, Tsao stresses on the need for modernizing businesses to meet the dynamism in management and innovation. He emphasizes adopting an integrated approach, prioritizing both personal and collective well-being to adapt to the fast-paced social and environmental changes. The vision isn’t solely profit-oriented but aims at uplifting humanity and safeguarding the planet.
Tsao manifests his business philosophy through IMCPAA’s Sangha Retreat by Octave Institute, a luxury wellness resort in Suzhou, China. Firmly rooted in traditional Chinese practices and Western medical science, the retreat promotes a holistic view of health and well-being. It offers transformative experiences designed to enhance an individual’s life, thereby fostering a deeper understanding of oneself and the world.
Defying governmental restrictions, Tsao ardently advocates for ship recycling, highlighting its global benefits, and considering it as China’s responsibility.
Tsao’s advocacy for sustainable Asian businesses
Despite challenges stemming from restrictive regulations, he remains determined to advance sustainable practices within the maritime industry.
Looking ahead, Tsao plans for potential investments in Indonesia’s infrastructure sector and Japan’s wellness and hospitality sectors. His keen interest in eco-friendly technologies and renewable energy reflects his commitment to sustainable growth. Despite acknowledging the evolving investment trend favouring environment and sustainability, he argues for compassion-driven business decisions.
Tsao’s unique approach to business is likened to love, where each member’s role in a family business is viewed as integral in embedding affection within the organization. Tsao’s philosophy underscores the often-overlooked principle of love as pivotal in succeeding in the business world. He believes that a successful family business goes beyond profits, is rooted in compassion, and nurtures a familiar bond.
