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The Dragon Network. Inside Stories of the Most Successful Chinese Family Businesses. Bloomberg

  • ID: 2213172
  • Book
  • April 2013
  • Region: China
  • 272 Pages
  • John Wiley and Sons Ltd

Praise for The Dragon Network

"China′s economic progress is inseparable from the success of the overseas Chinese businessmen who are scattered all over the world. The authors have identified the significant characteristics of Chinese businessmen and their practice of ancient traditions and Chinese philosophy, which affect the companies′ operational systems, strategies, and management. I believe this book will inspire passion and encourage the struggle to preserve the family business style of the overseas Chinese. Professionalism must also be prioritized in order to further develop the strategies of current family businesses."
Mochtar Riady, founder and CEO of Lippo Group; Chairman of the Asian Bankers Association

"This book contains explanations about overseas Chinese family businesses which are easy to understand by readers from any background. It provides inspiration to those who want to build their family businesses."
Robert Sumantri, CEO of Altus Shipping and Logistics Pte Ltd

"The authors have written an extremely comprehensive and interesting book on overseas Chinese family businesses. It is an illuminating review that describes how these businesses have assimilated into their respective communities as well as how they have historically been discriminated against. Their careful examination of the role of Chinese values in developing these businesses is very important for readers who are interested in the cultural components of business. This is a fine contribution to the professional literature and is also a great read."
Frank T. Gallo, PhD, author of Business Leadership in China and President of Calypso Consulting ([external URL]

"Strong family tradition and commitment, combined with characteristics such as hard work, frugality, willingness to learn, and persistence have made many overseas Chinese family businesses successful. Nevertheless, they are currently facing great challenges. The authors of this book identify those challenges and what Chinese family businesses must do to address them. There are many lessons we can learn from this book."
Ling Chen, PhD, Professor for Family Business and Business History, Associate Dean, School of Management, Zhejiang University; Executive Director, Academy of Global Zhejiang Entrepreneurs; ZJU Director of Institute of Family Business, Zhejiang University

"Overseas Chinese family businesses are famous for their high entrepreneurial skills and spirit. However, after reading this book, I realize that these factors are not enough if you want your family business to last for generations. There is a need to adopt modern management practices, sound conflict management, and succession planning."
Dr. Charles Saerang, President Director, PT. Nyonya Maneer

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Acknowledgments ix

Introduction xi

Chapter 1 Revealing Fast–Growing Overseas Chinese Family Businesses 1

Assimilation 3

Discrimination 4

Background of the Overseas Chinese Family Business (OCFB) 5

Overseas Chinese Family Businesses in Southeast Asia 6

Overseas Chinese Family Businesses in Other Regions 18

Chapter 2 How Do Chinese Values Support Business Values? 21

The Role of the Family in Chinese Culture 22

Confucian Values 23

Filial Piety 24

Guanxi 25

Characteristics of Chinese Family Businesses 26

Challenges Facing Overseas Chinese Family Businesses 41

Chapter 3 Combining Modern Management and Chinese Traditional Values 45

Family Businesses around the World: An Overview 45

Family Businesses: The Strengths 47

Family Businesses: The Weaknesses 49

Modernizing Overseas Chinese Family Businesses 51

Chapter 4 Anatomy of Conflict Management 67

The Story of Nyonya Meneer 68

The Story of Yeo Hiap Seng (YHS) 73

The Origins of Conflicts in Overseas Chinese Family Businesses 78

Conflict Management 84

Chapter 5 The Succession Conundrums 91

Succession Planning Conundrums 92

Succession in Overseas Chinese Family Businesses: Influence of Confucian Values 96

Preparing the Next Generation of Leaders in Overseas Chinese Family Businesses 100

The Next Generations: Dealing with Challenges 105

Chapter 6 The Role of the Wife in Overseas Chinese Family Businesses 115

Wife as the Balance of the Husband 117

Wife as Complement and Driver 119

Wife as the Secretary 120

Wife as the Most Important Figure Following Her Husband s Death 121

The Role of a Wife: A Breaker or a Binder? 122

Chapter 7 Leadership Styles of Overseas Chinese Family Businesses 125

From Dictatorship to Democracy 126

Yearning for a Patriarch 131

Chapter 8 The Importance of Social Organization in Chinese Family Businesses 135

Evolution of the Bamboo Network 135

Founder s Activities for Retirement 141

Chapter 9 Dealing with Risk 147

How Do Chinese Family Businesses Deal with Risk? 148

Risk Attitude among Younger Generations in Chinese Family Businesses 152

Chapter 10 Issues on Sustainability in Family Businesses 155

Phases of Growth in a Family Business 155

Challenges in Maintaining Sustainability 157

Chapter 11 Suggestions for Developing Chinese Family Businesses 169

Implementing Corporate Governance 170

Creating a New Business Paradigm, Strategy, Structure, and System 172

Enhancing Education and Competence for Family Members 174

Recruiting Non–Family Executive Professional Managers 175

Analyzing Corporate Life Cycle 177

Promoting Fair Remuneration and Equal Treatment among Members 178

Influencing with the Right Leadership 179

Reformulating Strategy and Renewing Business 180

Promoting Ethical Behavior 181

Promoting Corporate Social Responsibility 183

Developing Estate Planning 185

Chapter 12 The Future of Overseas Chinese Family Businesses: Toward a More Global Management Style 189

About the Authors 195

Bibliography 197

Index 203

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A.B. Susanto serves as Chairman of The Jakarta Consulting Group, a leading management consultant firm in Indonesia. He is also known as one of the foremost family business consultants in Indonesia. Susanto is Dean of the Faculty of Economics at President University in Indonesia. He obtained his bachelor′s degree and master′s degree from the University of Indonesia and his doctorate degree from the University of Düsseldorf, Germany.

PATRICIA SUSANTO is the current CEO of the The Jakarta Consulting Group. She graduated with a bachelor′s degree from the University of Southern California in 1999 and continues her studies in psychology and human resources at the University of Indonesia and Griffith University, Australia. For the past ten years, she has taken an active interest in family business studies and research. As part of The Jakarta Consulting Group, Susanto has been involved in developing governance for family business in Indonesia.

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