Tradition and Transformation in a Chinese Family Business

1st Edition

Heung-Wah Wong, Karin Ling-fung Chau

Routledge
January 7, 2020 Forthcoming
Reference - 304 Pages
ISBN 9781138914841 - CAT# Y201647
Series: Routledge Culture, Society, Business in East Asia Series

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Summary

Family businesses have been an important part of the economy in Hong Kong, Taiwan, Singapore and in the Chinese diaspora, and, since the reforms, in mainland China itself. Some people have argued that the success of Chinese family businesses occurs because of the special characteristics and approach of such businesses. This book examines the nature of Chinese family business and the key issues involved by exploring in detail the case of a leading Hong Kong jewellery company which was established in the early 1960s and which has grown to become one of the biggest jewellery manufacturers, exporters and retailers in post-war Hong Kong. The book considers the motivations of Chinese people to set up their own businesses, outlining the strategies adopted, including the strategies for raising capital, and the qualities of successful Chinese entrepreneurs. It discusses the management of the company, including relations between family members, profit sharing and succession planning, and assesses how conflict and crises are coped with and overcome. It charts the evolution of Chinese family businesses, looking at how they have been modernised and in many cases transformed into listed corporations, discussing how for this is necessary and desirable. The book concludes by discussing how Chinese family business are likely to evolve in the future.

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