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.
Table of Contents
List of figures
List of tables
2 Politics, economy, and society of post-war Hong Kong
3 A life history of Fong
4 To produce or to die: the development of Fong’s manufacturing business
5 Beyond manufacturing: the development of Fong’s showroom business
6 From a manufacturer to a brand: the development of Fong’s retail business
7 Jan cing mei management
8 The crises
9 The transformers and the transformation
10 The eternal return of the Chinese boss
Heung Wah Wong is Associate Professor in the School of Modern Languages and Cultures at the University of Hong Kong.
Karin Ling-Fung Chau is a MPhil/PhD student in the Department of Culture, Media and Creative Industries at King’s College London.