Wealth Doesn't Last 3 Generations: How Family Businesses Can Maintain Prosperity

Description

With 175 family businesses on the Fortune 500 list, from DuPont and Motorola to IBM, there is no doubt that family-run enterprises play an important role in global economic development. Their role is no less significant in China where, in keeping with the country s rapid economic growth, family businesses are emerging in increasing numbers. Unique characteristics, such as succession, management, staffing, family affairs, strategy planning and governance structure, set family businesses apart from other business types. As a result, they face particular challenges in survival and sustainability. In this book, three modern Chinese family businesses, including food and beverage company Yeo Hiap Seng, are studied to analyze the problems that family enterprises face. Other case studies include long-standing family businesses in Europe, America and Asia, such as Ford, Kikkoman and Samsung. This book also discusses the changing characteristics of Chinese family businesses, the pitfalls that such enterprises are likely to face, and how they can overcome these pitfalls and achieve sustainable development. Contents: A Curse Upon Family Enterprises?; Interpreting Family Enterprises:; Yeo Hiap Seng: A Typical Case Study of a Family Enterprise; Family Enterprises in China: The Struggles of the First Generation; Family Enterprises Around the World:; Development of Family Enterprises in Europe and the US; Characteristics of Asian Family Enterprises; Development of Family Enterprises in China:; Merchants from Huizhou and Shanxi during the Ming and Qing Dynasties; Family Enterprises in Modern China; Breakthrough of Chinese Family Enterprises; Conclusion:; Sustainable Development of Family Enterprises.