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Tradition and Transformation in a Chinese Family Business

Research output: Book/ReportBookpeer-review

Heung Wah Wong, Karin Ling-Fung Chau

Original languageEnglish
Place of PublicationLondon
PublisherRoutledge
Number of pages248
ISBN (Electronic)9781315690612
ISBN (Print)9781138914841
Published2020

King's Authors

Abstract

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 the company, looking at how it has been transformed into a listed corporation. The book concludes by arguing for the importance of studying Chinese family businesses culturally.

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