- Teaching Notes
- Supplementary Resources
Eu Yan Sang was a traditional Chinese medicine (TCM) family business that had been in business for more than 100 years. Despite family strife and divided leadership, Richard Eu, a fourth generation Eu, grew the company from a SGD 4 million business to a SGD 338 million one. Everything was going well until 2016 when growth stalled. The company posted a net loss of SGD 14.1 million for that year. Many factors, including macroeconomic factors and currency devaluation of the Hong Kong dollar, Malaysian ringgit, and Australian dollar, had hampered sales. Despite being practiced for more than 2,500 years, TCM is still far from integrated into mainstream medicine. Consumer skepticism still exists. The term traditional Chinese medicine could be limiting growth as traditional denotes “old” ...