TongRenTang
One
cannot but be impressed with the historical stories of
Bian Que
,
(whose attempt to save the life of Duke Huan of Qi failed because of the
Duke’s ridicule), Hua Tuo, (who discovered an anesthetic called mafeisan, saved
Kuan Yu of the Three Kingdom Period by excising an infected wound and who died
at the hands of the infamous Cao Cao when he advised Cao Cao to have brain
surgery for his headache) and Li Shizhen
(the pharmacist par excellence who
collected thousands of herbs and taking
27 years to complete his life work, the Compendium of Materia Medica
,
considered the best at his time.)
Tong Ren Tang has an interesting history on its own. It was started by the Le family, but in 1754, the pharmacy fell on difficult times and was taken over by an associate called Zhang Shiji, followed by more shares sold to outsiders. In the mid 1800s, the Le family had an heir, Le Pingquan, one with vision and dedication. He opened up another pharmacy called GuanRenTang, and started buying back TongRenTang, ultimately gaining full control of the pharmacy that his family lost earlier.
Le Pingquan utilized five principles of business to build up
the TongRenTang. Firstly, he developed rapport as a government official and
managed to get imperial patronage. Secondly, he was able to solicit funds on
the basis of trust. Thirdly, he promoted Tong RenTang products as brand names
from a charitable company by giving free medication to scholars coming to
After
the death of Le Pingquan, the pharmacy was run by his capable wife, Madame Xu,
who stimulated further growth by giving her employees a remuneration of low pay
but high com