Authors: Jing Ye, Melissa A. Parris, Dianne Waddell
Addresses: School of Management and Marketing, Deakin University, Melbourne, Australia. ' School of Management and Marketing, Deakin University, Melbourne, Australia. ' School of Management and Marketing, Deakin University, Melbourne, Australia
Abstract: Chinese immigrants have long been a feature of Australia|s population mix and play a critical role in the country|s economic activities, with particular contribution by Chinese family-owned businesses. Although these family-owned businesses can generate and significantly improve the financial wealth which stems from the family|s original fortune, most Chinese family businesses are relatively short-lived, rarely extending beyond one generation. The high mortality rate in family businesses points primarily to the challenges of management succession. There is recognition that inter-generational succession is essential for both the profitability of Chinese family businesses and the welfare of the family as a whole. However, the intentions of inter-generational pursuit of continuity can be subject to the different goals and interests of key participants, as well as the surrounding context in which the business develops. This paper presents issues pertaining to the inter-generational diversity that might challenge the business continuity of Chinese family businesses, through the identification of how individuals perceive, relate to and initiate the succession process.
Keywords: inter-generational succession; ethnic businesses; Chinese Australians; China; Australia; immigrants; immigration; population mix; economic activity; economy; financial wealth; short-lived businesses; management succession; profitability; family welfare; business continuity; goals; interests; key participants; diversity; individual perceptions; management practice; family businesses.
International Journal of Management Practice, 2010 Vol.4 No.3, pp.234 - 252
Published online: 11 Nov 2010 *Full-text access for editors Access for subscribers Purchase this article Comment on this article