Contents -- Preface -- About the Authors -- Introduction -- SECTION I: INTERPRETING FAMILY ENTERPRISES -- Chapter 1: Yeo Hiap Seng: A Typical Case Study of a Family Enterprise -- Interpreting the Fate of Chinese Family Enterprises Through YHS -- Family-Oriented Management: Reasons for Both Success and Failure -- Power Transfer: To Be or Not to Be -- Internal Conflicts in Family Enterprises: Emotional or Rational -- Case 1: Yeo Hiap Seng: The Collapse of a Family Enterprise over Three Generations -- Introduction -- History of YHS -- Establishment of YHS Canned Sauce Factory Company Limited -- Agreement by Yeo's Family Members in 1956 -- Development of the Family Cause -- Internal Family Conflicts -- Epilogue -- Chapter 2: Family Enterprises in China: The Struggles of the First Generation -- Governance Structure in Family Business -- Case 2: Delong: Corporate Governance -- The Establishment of Delong -- The Development of Delong -- Delong's Road of Expansion by Integrating Industry and Finance -- Tun He campaign -- The Campaign of He Jin -- The Campaign of Torch -- The Collapse of Delong -- Warning - the alarm bell rings -- Barriers to enter ST Zhong Yan -- Two limit-downs of Tian Shan Co -- The Candle Hammer of Xinjiang Tun He Co -- Doubts appearing -- The suspicious unaffiliated trading -- Stock crash -- The Dilemma of Management System for Family Business -- Case 3: Huanghe: Familial Management Versus Professional Management -- Introduction -- The History of Huanghe Group -- Converging at Huanghe - Talents recruitment -- First Failure (1985-1997) -- Second Failure (1999) -- Return to Family-Oriented Governance (1999-2003) -- SECTION II: FAMILY ENTERPRISES AROUND THE WORLD -- Chapter 3: Development of Family Enterprises in Europe and the US -- Characteristics of American Family Enterprises.

Professional Manager Revolution in the Tide of Annexation -- 1. Larger, stronger, and more enduring -- 2. Clear boundary of property right -- 3. Advantage in number, creating jobs for society -- 4. Strong establishment -- 5. Contribution to productivity, modernization, economic and cultural development -- 6. Innovation in management model -- 7. A big boost in research centers -- 8. Setting up various funds -- Case 4: Ford Motor Company - Wealth Beyond Fifth Generation -- Introduction -- Pioneer of Motor Industry: Henry Ford I -- Edsel Ford: Talented but Short-lived -- Henry Ford II: Doing His Utmost to Turn the Tide -- From a Boy Born with a Silver Spoon to Leader of the Fourth Generation: Bill Ford Junior -- Family Traditions -- Characteristics of European Family Enterprises -- Family Enterprises in France -- 1. The culture of individualism -- 2. Socialization and diversification of property right -- 3. Management - "two boards" decision making structure -- 4. People-centered management with emphasis on employee interest and participation -- Family Enterprises in Germany -- 1. Governmental support -- 2. Strictness in successor selection -- 3. Corporation management - Three-level model -- 4. Board of supervisors -- Family Enterprises in Italy -- 1. Network of corporations group -- 2. Technology innovation capacity -- 3. Industry distribution - "One district, one industry" -- Case 5: Porsche Company - The Outstanding Second Generation -- Introduction -- The Father of Porsche -- The Torch was Passed and Carried Forward -- Another Brilliant Victory After the Turning Points -- Chapter 4: Characteristics of Asian Family Enterprises -- Family Enterprises of Japan -- Family Enterprises of South Korea -- Family Enterprises of Hong Kong -- Four Great Family Enterprises in Hong Kong -- Magnates From Family Enterprises -- Superman - Li Family.

Fok Family -- The Richest Woman in Asia - Nina Wang -- Family Enterprises of Taiwan -- Family Enterprises of Southeast Asia -- Case 6: Case of Kikkoman: A Combination of Tradition and Modernity -- Introduction -- A Brief History -- Management Concepts -- Management Control -- Diversified Operation -- Internationalized Operation -- Family Rules -- Case 7: Samsung Group: From Family Enterprise to Global Brand -- Introduction -- Lee Byung-Chull: The Founder of Samsung -- Handover of Samsung within the Family -- The Second Pioneering Under Lee Kun Hee -- The Second Pioneering -- Launching-out -- Reforms -- 1. Reform in organizational structure -- 2. Reforms in personnel system -- 3. Reforms in management -- Second Phase of the Second Pioneering - Samsung's "Change" Management -- Change in notion: Four conferences -- Change in organizational structure and strategy -- Change in management regulations -- 1. Halting product line -- 2. Concentration -- 3. Working hours system -- Personnel reform -- Change in corporation culture -- 1. Stress on change -- 2. "Family" culture -- 3. Stress on etiquette and morality -- 4. Encouraging innovation -- Lee Kun Hee's failure -- New Challenges for Samsung -- Case 8: Lee Kum Kee: A Family Enterprise Whose Wealth Lasts over Five Generations -- Introduction -- History and Development of the Enterprise -- Culture: Win-Win Relationships and Others' Interests Come First -- The Family -- Family Committee -- Challenges -- SECTION III: DEVELOPMENT OF FAMILY ENTERPRISES IN CHINA -- Chapter 5: Merchants from Huizhou and Shanxi during the Ming and Qing Dynasties -- Merchants from Huizhou, Anhui Province -- Merchants from Shanxi Province -- Strict Managerial System -- Shareholder-Employee-Partnership System -- System of General Manager Responsibility -- Employment of General Managers.

Dividing Family Property But Not Business -- Loyalty and Integrity -- Restrict Pursuit of Individual Interests through Honesty and Integrity -- Chapter 6: Family Enterprises in Modern China -- Proliferation of Family Enterprises in China -- Types of China's Family Enterprises -- Individual/Family Entrepreneurs -- Partnership Enterprise -- "Red Hat" Enterprise -- System-Transformed Enterprises -- Three-Dimensional Development of Family Enterprises -- Ownership Axis -- Family Axis -- Enterprise Axis -- The Characteristics of China's Family Enterprises -- Ownership Axis - Absolute Ratio Share -- Private Shareholder Holding Absolute Ratio Share -- Private Share-Holding Structure -- Family Axis - Autarchy -- Enterprise Axis - A State of Disunity -- Case 9: Hope Group: Making Family Enterprises Bigger and Stronger -- Introduction -- Pioneering Process -- China's Feed King -- New Noble of Forbes -- The first separation -- The second separation -- Independent development -- Eldest Brother: Liu Yongyan -- Second Brother: Liu Yongxing -- Third Brother: Liu Yongmei -- Fourth Brother: Liu Yonghao -- Conflicts and Flourish -- Epilogue -- Case 10: Wanxiang Group - Three Axes of Family Enterprise: Family, Enterprise and Ownership -- Introduction -- Individual Contract System - Settling in Business -- Joint Stock System - A Phase of Rapid Development -- Collectivized Management, Double-Track Property Right -- Lu Weiding: Taking Charge of 12 Billion Dollars at 23 -- Challenges for Wanxiang -- The first challenge is the property rights -- Chapter 7: Breakthrough of Chinese Family Enterprises -- The Axis of Family -- Family Concept - Manage the Double-Edged Sword -- 1. The necessity to adopt familism at the initial stage -- 2. De-emphasize familism when entering the expansion stage -- 3. Establish a proper and real organizational structure.

4. Move from family ethics to professional ethics -- 5. Develop shared management and governance -- Power Handover - Make Long-Term Plan for Succession -- The Axis of Ownership -- Define the Ownership Right and Management Right as Early as Possible -- Risk Control - Establish True Governance Structure and Management System -- The Axis of Enterprise -- Industrial Orientation: Establish a System of Specialization and Cooperation -- Market Competition: Enhance the Consciousness of Competition and Cooperation, and Emphasize Resource Complementarity -- Bottleneck for Talents: Improve HR Management and Retain High-Level Managers -- 1. Arbitrariness, instead of standardization, in human resource management -- 2. Emphasizing more on paper qualification than on capability -- 3. Placing more importance on technical talents than managerial talents -- 4. Focus on material rewards instead of non-material rewards in incentive system -- 5. Emphasis on recruitment but not on training and retention -- SECTION IV: CONCLUSION -- Chapter 8: Sustainable Development of Family Enterprises -- Going Public: A Breakthrough in Capital and Governance -- Family Committee: Sharing Experiences -- Shaping "Enterprise Family Culture": Separation of Ownership and Management -- Innovation: Source of Longevity -- 1. System innovation -- 2. Business innovation -- Epilogue -- References -- Index.