Abstract
Crossroads of Family Business in China: Succession and Transformation studies the intergenerational succession in family-owned businesses, specifically in the Chinese mainland. With the succession of family businesses over time, transformation is required as it needs to correspond to the world's development to successfully sustain the company. There is a multitude of factors that play their roles accordingly to perform a prosperous accession. Hence, this book highlights common issues such as the challenges for both succession and transformation of the company, the interest of the second generation, introducing the second generation to the business before fully passing on, family culture and morale, the distinction between wealth inheritance and business succession, the unorthodox tradition of mother-to-daughter succession and opening management to professionals. These topics are substantiated by case studies of Chinese family businesses, such as Neoglory Group, Midea, Red Collar, Fotile and even more. The book offers theories, practices and models for strategic transformations during succession. Readers will be able to enjoy insights into a critical evaluation of the intersection between succession and transformation. They will also discover how the different methods of succession utilized by real-life Chinese family-owned businesses affect the businesses' performance. This book will be their first step in constructing a thought on this topic, while indulging in an incredible learning experience.
| Original language | English |
|---|---|
| Publisher | World Scientific |
| Number of pages | 300 |
| ISBN (Print) | 9789811229404 |
| Publication status | Published - 1 Jan 2021 |
Author information
Professor Jean Lee is the Michelin Chair Professor in Leadership and Human Resources Management, Professor of Management and Co-Director of Center for Family Heritage in China Europe International Business School (Shanghai). Her research interests include leadership, corporate culture, women in leadership, family business and cross-culture management. She has published extensively in local and international journals, such as Human Relations, Family Business Review, International Journal of HRM, Asia Pacific Journal of Management, Financial Times, Forbes, Harvard Business Review (China) etc. She serves on the editorial board of Asia Business Review and Journal of Chinese Human Resource Management and has served as the Associate Editor of Asia-Pacific Journal of Management. She is the author of Wealth Doesn't Last 3 Generations (2009) and Chinese Women Business Leaders — Seven Principles of Leadership (2018).Prof Lee has consulted and conducted training programmes for many multinational, local and international organizations in Southeast Asia and mainland China. She also serves as Independent Director of several companies. She has received several Teaching Awards and Service Awards based on her excellent teaching and outstanding leadership and contribution in the profession. She was listed as top 25 influential scholars in the field of family business in 2015.Dr Yan "Anthea" Zhang is a professor and the Fayez Sarofim Vanguard Chair of Strategic Management at the Jones Graduate School of Business, Rice University, USA. Her research focuses on CEO succession and corporate governance of public-listed companies and family-owned firms, and foreign direct investment and technological entrepreneurship in emerging markets (notably China). She is a prolific scholar ad has published many research articles in top academic journals in the business field, such as the Academy of Management Journal and Strategic Management Journal. Her research has been widely cited in top business media outlets such as Harvard Business Review, Economist, Business Week, New York Times, Wall Street Journal, Washington Post, USA Today, and Financial Times. She has served on the boards of directors of Strategic Management Society and International Corporate Governance Society. She received her PhD in business administration from Marshall School of Business, the University of Southern California, Master of Philosophy in international business from City University of Hong Kong, and BA and MA in economics from Nanjing University. She was on the faculty of China Europe International Business School and held visiting professorships in Tsinghua University, Fudan University, Shanghai Jiaotong University, and Sun Yat-Sen University.
Table of contents
Challenges to Family BusinessRichness Stands for Willfulness?: Why Does the "Wealthy Second Generation" Love the Financial Investment Industry?
"Family Culture": The Evergreen Cornerstone of Family Business
"1.5 Generation" Entrepreneurial Succession
The Common Agreement of the Xu Family
Family Managing Family Business
From "De-familization" to "Building a Family-based Culture"
Family CEO or Professional CEO?
Succession of Professional Managers
Mother-to-daughter Succession in Boosting Brand Internationalization
Daughter Succeeds Father as the Pioneer of Strategic Transformation
When Succession Meets Transformation
Still on the Way