Success of fourth generation family businesses in Asia.

• Main Authors: Ho, Brian Meng Tat., Khoo, Casancia Wang Tien., Mo, Clarissa Hui Ru.
• Other Authors: Fock Siew Tong
• Format: Final Year Project
• Language: English
• Published: 2010
• Subjects: DRNTU::Business::Operations management::Family owned business enterprises
• Online Access: http://hdl.handle.net/10356/21240
• Institution: Nanyang Technological University

This paper aims to find out how a fourth generation family business can achieve sustainability. Using various case studies, we observe key success factors behind the smooth transition between the third and fourth generation family entreprises. We also identify the long term plans families have implemented at the fourth generation. Through these findings, we condense a broad set of policies contributing to business sustainability. Next, we compare the differences between each company’s emphases within the set of policies. The paper then investigates external factors influencing the different routes to sustainability. This is an exploratory research. We have utilized three key case studies – Lee Kum Kee, YTL Corporation and IMC Group – in our project. Our findings have shown that although businesses recognize similar issues, they have varied their approaches to overcoming these obstacles. These differences are influenced by business characteristics and family culture. Understanding the forces shaping unique sustainable planning policies for each business will enable entrepreneurs and small-medium sized firms to plan early. Private equity players will also gain a competitive edge as the family businesses seek external funding with parties who comprehend the true dynamics of their businesses.