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Family and Business in the West and in China [Copy link] 中文

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Of family businesses operating for at least a century, Japan has 25,321, the US has 11,273, and Germany has 7,632.
Although Japan leads the league table, its oldest companies are mainly comprised of small players such as restaurants or confectionery markers.


Taiwan ranked 19th with 209 century-old companies, while mainland China ranked 21st place with 204. Hong Kong ranked 31st with 89 companies meeting the centurion threshold.
King said Japan benefited from a culture of passing business ownership onto a son-in-law or an adopted son without blood relationship, as long as the adoptee agreed to take on the family name.
“Chinese companies usually pass on a business only with male members, usually the eldest son, of the family,” he said.
This limits the choice of successor. He added that it was not uncommon for large families with many male offspring to quarrel over control of the family business.
King said Chinese families should learn from the Jewish tradition, which tends to be more opened minded in allowing outside professionals to run the business.
He added that the Jewish tradition encourages the expression of differing opinions, whereas in the Chinese culture, it is considered impolite for children to ask their parents for details on what happens upon their death.
“In the Chinese culture, it would be hard for children to ask their parents on succession planning,” he said.
Richie Eu, managing director of Eu Yan Sang Trading, is the fifth generation of his family to run the Chinese medicine company founded more than 100 years ago

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Post time 2017-9-14 00:23:08 |Display all floors
I found this in today's SCMP.

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Post time 2017-9-14 03:16:13 |Display all floors
seneca Post time: 2017-9-14 00:23
I found this in today's SCMP.

Well done

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Post time 2017-9-14 09:29:02 |Display all floors
1584austin Post time: 2017-9-14 03:16
Well done

Who? Me?

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Post time 2017-9-14 10:07:19 |Display all floors
Not well done.

Done well.

Like roast.

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Post time 2017-9-14 15:19:52 |Display all floors
seneca Post time: 2017-9-14 09:29
Who? Me?

Yes

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1584austin Post time: 2017-9-14 15:19
Yes


It is an interesting study. I have often thought there are no traditional Chinese businesses of note and have wondered why.

The Germans (only 7600 companies owned by families for a century) clearly set a model that deserves to be studied. "Diesel" and Siemens" are names known throughout the world. Many families concentrate on machine making and their names are known in relevant sectors of the global economy too.

It also casts a shadow over the Chinese mind that is focused on quick bucks rather than on tradition. FOr example the employee loyalty in China is not very strong.

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