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| Did You Know This? Family Run Business |
| Written by Evelyn Groemminger | |||
| Sunday, 12 July 2009 15:51 | |||
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The main features of Chinese business families are that they are family-orientated, there is a dominant family leader, it has enduring roles and family responsibilities, and it is family-financed and family accountable.
The main features of Chinese business families are that they are family-orientated, there is a dominant family leader, it has enduring roles and family responsibilities, and it is family-financed and family accountable. To Better Understand the Family-Directed Operation you should know that as a family directed operation, the typical Chinese business family is controlled by a male or female patriarchal figure , many times the founder of the business or the female that did take over the lead after marriage. The other family members have key positions within the business, without being really responsible for their doing and many times without having the qualifications for the post. The extended family may have its own companies that are linked together to form a complex "Group". Cross-holdings are common but are not always apparent since knowledge of such holdings often is kept secret and away from public appearance. Even when a Chinese business is a publicly held corporation, it often is family controlled. The family members generally take a hands-on approach in the affairs of the business. Decision-making is informal and often occur at events such as family dinners. The organizational chart does not necessarily provide information about who actually holds the power; often a person with an influential-sounding title may be only a figurehead. Business deals may be based on family reasons, which sometimes may cause a financially attractive deal to be rejected. About Dominant Family Head: Chinese business families usually are controlled by a dominant family head who has the final word on important decisions. This person may have advisors who are family members or close friends. Such relationships are more important than what the organizational chart may imply. Often a lower level manager will go straight to the head without going up through the chain of command. Western companies dealing with the Chinese will benefit if they take the time to find out who really holds the positions of power and influence in the Chinese firm. Tradition and Family Obligations Over Educational Aspects : The leader of Chinese family run organizations usually are descendants of the family which have to carry the business tradition to the next generation. This is happening even if nobody in the family has the education and know how to run the company, family members are preferred over outside professional managers even today in the opening markets. Many times, Chinese company financial values are divided among all of the sons and daughters, who may branch off into different enterprises, forming an unofficial group of companies. By doing this that has the effect of adding a higher level of diversification to the companies and creating an internal support structure and even supply chain. Family-Financed, Family-Accountable Corporation From The Western Point Of View: The formal accounting in a Chinese company tends to be for tax purposes only, with the real books of accounting kept in the heads of family members. People are evaluated informally and personal reputation is more important than achievements. Decisions are made quickly, often based on personal recommendations. About the Author: ChinaGateConsult is a German managed company with years of experience at the frontier.To get some information about investment and cooperation opportunities you can find it here easily.
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