Research Sharing

  • Key Finding III:
    The influence of family culture on succession
    Key Finding IV:
    Successor’s aspiration for business succession 
    Key Finding V:
    Successor’s Succession Effect

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  • Mr. Zhang Daili, Chairman of Red Collar, was born in 1955, and earned the first barrel of gold in his life with his carpentry craftsmanship. He started his own business in 1976 and established Red Collar in 1995. He has always upheld the highest standards of integrity in either his personal or business actions, and highlighted the “upright and customer-focused” business philosophy.

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  • “Pindie” (meaning to compete through daddy’s power) has become a social tag of the second-generation rich. It destroys social equity and encroaches on the development opportunities of grassroots. To alter this negative public image, some second-generation rich have publicly manifested their determination to become the second generation entrepreneurs without falling back on their family background. According to a joint research conducted by the University of South Australia and the Rensselaer Polytechnic Institute, “Pindie” can be changed into a positive energy.

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  • Though Sung Hing is not a large family business in Hong Kong, its dedication to philanthropy has established a new model for family business succession and has become a remarkable feature of this family business. Philanthropy can help a family augment its influence, carry forward the spirit of the elder generation and bind generations of the family together. The practices of Sun Hing offer valuable lessons for Chinese family businesses regarding the succession of family values.

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  • Key Finding I:
    Who does the founding generation wish to pass the baton to? And how?
    Key Finding II:
    Why is the relay generation willing to take the baton? How do they prepare for the succession?

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  • In the last decade, the earliest group of family businesses in China has come to the stage of business succession.  For the family business founders, there is a string of urgent challenges waiting for them to resolve: what should they do to increase their successors’ aspiration for business succession, complete the succession process smoothly, and evoke their successors’ strong commitment to the businesses? Observation and analysis around these questions are included in this research. As family businesses are an important part of the private economy, their smooth succession also carries special significance for the government. In recent years, local governments attach increasing importance to the nurturing of “rich kids”.

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  • A dearth of worthy successors has long been a cause of concern for family businesses. This is especially true with family firms on the Chinese Mainland because the one-child policy even rules out the possibility of “picking the best out of a mediocre bunch”. As a result, an entrepreneur’s only son (daughter) is the only possible successor to the family business.

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  • In a press conference held by Wensli Group on July 2, a Frenchman became the focus of media attention and the silk industry, not only because he was the newly appointed chief executive officer of Wensli Silk Culture, but also because of his previous position as CEO of Hermes Textile Holdings. As a private silk producer based in China, hiring a former Hermes executive can help generate considerable publicity for Wensli and is widely regarded as a move of the company to pursue a globalization strategy.

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  • “In the West, rules and frames build trust between family businesses and professional managers. But for China’s first generation private entrepreneurs, the trust is placed with shares in managers. But, does this make enterprises more family-like and private? Are managers owning shares of the company more trustworthy?” A lady with a German face and a classical Chinese name raised this question in a CEIBS Kaifeng CFH seminar, CEIBS, on Mar. 28th. This provoked a heated discussion among the first and second generation entrepreneurs present.

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