Family business can sometimes be passed
sown meaningfully and is worth-praised because of the spirit they hold and the
efforts they made to protect their family firm’s reputation.
After that, YuZhenZhai experienced some
difficult time that it was forced to shut down because of the worsen financial
environment. However, those children in order to live their life and not
willing to give up the family spirit in managing firm, they rebuilt the business,
came up with some special desserts and passed it down successfully.
Passing to the seventh-generation
successors, unavoidably they faced the serious problem that sibling fought for
the management rights. The order brother then decided to give up the fight to
his young brother and built another YuZhenZhai cooporation. He tried hard to
learn new skill by studying abroad and keep the traditional taste that has
passed down since hundred ago and was recognized by other relatives and now is
managed blossomedly and notoriously in Taiwan
In this case, we could see that what
supports those children from generation to generation to keep this bakery firm
going is mainly the common spirit they share in the Huang family which has
existed for decades. And that is the vital difference between family firms and
other firms that are kept by professional managers. And this also makes the
whole family and business more valuable and unique.
But there are also lots of entrepreneurs
who decide not to pass down their self-build firm to their children. Here we
take WenLongShe, the founder of ChiMei, as example. In his opinion, he thought
that sharing possession will only cause the fight between descendants and he
even thought that his son do not have adequate ability and is not qualified to
manage the firm comparing to other professional managers who have accumulate
many years’ working experiences. For him, there are no reasons to pass down his
work to his own family members.
In conclusion, entrepreneurs could have
different reasons and considerations and decide whether or not to pass down the
firm. But when talking to passing to his or her own descendants, the spirit
that is wanted to be protected is inevitable. If the descendants could keep the
culture of the firm or if the social value changes, how they adapt themselves
to deal with problems that come along to keep the family firm alive.
Hsu,
Z(2010). The venture and succession of chinese family firm. In Global View Magazine. Dec 29, 2012,
from http://www.gvm.com.tw/Boardcontent_15804_4.html
The story of succession(n. d.). In YuZhenZhai.
Dec 29, 2012, from http://laicarfo-1.ecservice.com.tw/cetacean/front/bin/ptlist.phtml?Category=172629
