The 2024 CSHCR-Seminar on Family Business in Transition
The 2024 CSHCR-Seminar on Family Business in Transition, organized by the Center for Strategic and Human Capital Research (CSHCR) of National Sun Yat-sen University, was held at 9:00am from 27th to 28th March 2024 at the Doctoral Hall, 11th Floor, with the participation of academics from Japan, Lithuania, Hong Kong, and Latvia, and a number of business representatives. The seminar was held over two days. The theme of the first day was “Family Values, Organizational Resilience and Sustainability” which explored in depth the concepts of family business and the ways to manage a family business for the long term; while the theme of the second day was ” Family Governance, Managerial Capability and Organizational Innovations “, which explored the differences between family businesses in different countries in terms of their approaches and ideas in governance and management, and how to achieve innovative development and maintain the competitiveness of their organizations. The two-day seminar provided a platform for participants to explore new ideas and methods for sustainable management of family businesses.
Professor Toshio Goto, one of the keynote speakers, shared his research findings on the longevity of Japanese family businesses with the topic of ” Secrets of Long-lived Enterprises in Japan”. In his one-hour speech, he thoroughly analyzed the reasons for the longevity of Japanese family businesses, pointing out that these long-established businesses play a crucial role in Japan’s social and economic systems. In his research, he found that many Japanese family businesses have been in existence for decades, even centuries, and have succeeded in achieving the goal of being passed down from generation to generation. The longevity of these businesses is attributed to six key factors: long-term management, controlled growth, focus own’s core competences, trust relationship, risk management, and cross-generational commitment.
In addition, Professor Goto also discussed the Japanese faith, which is influenced by and blends the three religions of Buddhism, Confucianism, and Shintoism, and used the word “SHONINDO” Japanese attitude of “putting the public before the individual” which has enabled Japanese family businesses to continue for a long time to serve the public. Finally, he emphasized the importance of business strategies in the face of crisis and the importance of Japanese values in business transformation. In response to audience’s question on how Japanese companies plan for succession, Professor Goto replied that in most cases, Japanese family businesses start planning for succession when children are born. Through continuous dialogue between generations, children grow up learning about the family management style and concepts, the importance of peaceful relationships between relatives, and ways to solve business problems. These insights provided valuable inspiration for the participants.
Another guest speaker, Dr. David Lin (林鈺杰), introduced the current situation and problems of family businesses from a Taiwanese perspective. He pointed out that Taiwan is an economy dominated by small and medium-sized enterprises (SMEs), and that family-owned enterprises play a very important role in domestic enterprises. However, family-owned enterprises in Taiwan face many difficulties in terms of inheritance and technological transformation, such as the authoritarian leadership of the founder’s family, the lack of social experience and competence of the successors, and the inability of employees to express their voices to management, resulting in the loss of room for management improvement. He examines the culture of entrepreneurship in Taiwan, the treatment of other employees by family members, and the mindset of employees under management, and suggests a negative cycle in the failure of family businesses to grow: family members do not trust their employees, they gradually stop hiring smart and motivated employees, and because employees generally maintain a fear of family members, those who remain are only willing to do their own work. The lack of communication between employees and their families has also made management increasingly distant from the realities faced by employees. Professor David suggested several options for companies caught in this situation, including hiring professional management, the need for the family to let go of the management-centered mentality, or an IPO in which family members are only responsible for holding shares, as ways to address the problem.
When asked by Professor Monika if he had any advice for family businesses facing these problems, he also gave more directional answers, such as asking himself what was more important, the survival of the business or maximizing profits? Compare the company’s responsibility to society, recognizing the work done by employees, and establishing the concept of “hunting together and sharing the prey” in the company, so that employees would be more willing to work hard for the bonuses or self-esteem; and the company would be able to sustain itself with the positive development. The last part of the presentation also complemented Prof. Goto’s speech: a company alone cannot survive as an independent entity. People depend on society, and the companies must put the public interest before their own and give back to society, and society will give back to the company.
In the final hour of the roundtable discussion, moderated by Prof. Chiung-Wen Tsao, Prof. Goto, Dr. Lin and Associate Prof. Neringa Gerulaitienė were invited to participate in an in-depth exchange of views on family business growth, value transmission and crisis management. They agreed that family businesses should focus on value transmission, build a good corporate culture and actively respond to changes in the external environment. They also emphasized the importance of the interaction between business and society, as well as the importance of crisis management. These conclusions not only revealed the ideas of different countries’ societies and cultures, but also allowed participants to reflect together on how to apply these real-life examples in their own countries, and stimulated their insights and imaginations about the transition of family businesses.
The seminar on 27 March provided participants with an opportunity to gain an in-depth understanding of the operation of family businesses in Japan, Taiwan and Lithuania, promoted new thinking on the different management of family businesses and their development, and provided valuable references for solving practical problems. With the growing importance of family businesses in modern economies, these discussions will have a fruitful and positive impact on future researchers studying the development and sustainability of family businesses.
《THE 2024 CSHCR-SEMINAR ON FAMILY BUSINESSES IN TRANSITION》“Family Governance, Managerial Capability, and Organizational Innovativeness”
The 2024 CSHCR Seminar on Family Businesses in Transition held on March 28th, 2024, delved into the intricate dynamics of “Family Governance, Managerial Capability, and Organizational Innovativeness,” promising valuable insights into the challenges and strategies of family businesses.
Prof. Winnie Qian Peng from Hong Kong University of Science and Technology kicked off the seminar as the keynote speaker, discussing the transition from family businesses to family offices, particularly in Asian countries. She highlighted the historical context, industry characteristics, and cultural factors impacting the longevity of family businesses. Prof. Peng emphasized that family firms in industries with specific traits, such as high capital intensity, cyclical nature, or rapid growth, tend to lose control sooner compared to those in stable, asset-light, and small-size industries. She also underscored the significance of Asian and Chinese cultural values, particularly Confucian-based principles like respect (孝 xiao) and hierarchical relationships, which influence family dynamics and decision-making within these businesses.
Moreover, Prof. Peng discussed the challenges and opportunities facing today’s family businesses, including succession challenges due to increasing life expectancy and declining birth rates. She noted the older generation’s tendency to retain control and micro-manage, as well as their reluctance to hire non-family professional managers or sell the business, posing additional hurdles. Prof. Peng outlined two potential paths for family businesses: transitioning into a “business family” or a “family office,” highlighting the need for adaptability and strategic planning to navigate these complex dynamics. She discussed the transition of family businesses into family offices, driven by succession challenges and the need for systematic income management. This evolution involves a shift from business management to business control, leading to a gradual withdrawal of the family from daily operations. She highlighted the family office’s role in preserving wealth, legacy, and values, emphasizing its diverse structures and focus on family governance and philanthropy for long-term success and family cohesion.
The seminar also featured a presentation by Prof. Monika Petraite from the School of Economics and Business, Kaunas University of Technology, Lithuania, addressing challenges and strategies in continuous innovation management, organizational transformation, and the dynamics of family firms in R&D-intensive industries. Prof. Petraite emphasized the importance of continuous innovation for long-term success, highlighting the role of external networks in facilitating learning and information flow. She discussed how organizational transformation is driven by market changes, requiring firms to reconfigure strategies for sustainable development. Prof. Petraite also explored transformative learning in organizational development, where firms adapt to uncertain conditions through relational and connectivity-based learning in value networks.
Following the presentations, two panel discussants, Prof. Petraite and Assoc. Prof. Ilona Baumane-Vītoliņa of Latvia University, along with Prof. Toshio Goto, and moderator Prof. Pao-Lien Chen, engaged in a lively discussion on the tensions among family business firms. They explored inheritance traditions and gender roles in family businesses, including challenges faced by daughters in traditional inheritance practices and the reality of inheritance in different countries. The panel also delved into the role of innovation and agility in family businesses, discussing different types of innovation, the advantages of family firms in innovation, and the imperative of discomfort and openness for innovation.
In conclusion, the 2024 CSHCR-Seminar on Family Businesses in Transition dicussed the challenges and strategies faced by family businesses in today’s evolving landscape. The insights shared by Prof. Winnie Qian Peng and Prof. Monika Petraite, along with the engaging panel discussions, highlighted the complexities of transitioning from family businesses to family offices, the importance of continuous innovation, and the dynamics of organizational transformation. The seminar underscored the need for adaptability, strategic planning, and a strong sense of family values to navigate these challenges successfully. As family businesses continue to play a crucial role in the global economy, the seminar left attendees with a clear understanding of the key factors driving their long-term success and the pathways to sustainable growth.
NSYSU professors, research fellows present papers at IFERA 2023
From 6-8 July 2023, professors and researchers from the College of Management, National Sun Yat-sen University attended the annual IFERA Conference in Kraków, Poland. The 2023 IFERA conference is organized by the International Family Enterprise Research Academy in partnership with Jagiellonion University.
IFERA conference is a platform that is dedicated to fostering networks of academics, business owners, and practitioners committed to supporting the family business field. The theme of the 2023 IFEREA conference is “BACK TO THE CORE – Addressing paradoxes and ambiguities in family business research”.
The IFERA conference this year drew in over 300 researchers and practitioners from 39 different countries, encompassing 52 paper discussion sessions. Furthermore, the conference boasted a comprehensive and varied agenda, comprising three keynote speeches, four special sessions, a doctoral consortium, a “Shark Tank” event, a paper development workshop, and three social gatherings.
Participating in IFERA 2023, delegates from NSYSU delivered four research papers:
- Dynamic managerial capabilities and organizational resilience in family businesses: a comparative study of Taiwan, Latvia and Lithuania – Authors: Shyh-Jer Chen, Chiung-Wen Tsao, Gerulaitienė Neringa, Ilona Baumane-Vītoliņa, Tuan-Duong Nguyen.
- The impact of family firm heterogeneity on performance: A longitudinal study among Family controlled public listed companies in Taiwan – Authors: Chiung-Wen Tsao, Shyh-Jer Chen, Yung-Jen Cho
- Middle-Upper Managerial Turnover and Non-Economic Business Outcomes in Family Controlled Public Listed Firms: Exploring the moderating role of SEW importance – Chiung-Wen Tsao and Tuan-Duong Nguyen
- Nonfamily employees’ perceptions of family employer brand and turnover intention: the role of work engagement and occupational rank – Authors: Tuan-Duong Nguyen, Shyh-Jer Chen, and Shin-I Shih
The authors presented their papers and received a wealth of valuable and constructive comments and feedback from fellow participants, which will aid in enhancing and increasing the chances of publication.
Notably, the collaborative research group, comprising members from three countries – Taiwan, Lithuania, and Latvia – had their initial in-person meeting to deliberate on the project’s advancement and future steps.
In addition to the academic and professional sessions, the conference offered numerous chances for attendees to connect and build relationships. A special social agenda reached its pinnacle with a remarkable Gala Dinner, an event that left participants in awe of its magnificence and significance with the speeches and recognizing the contribution of the organizers and participants.
Some photos of the 2023 IFERA conference.
Seminar “Family Business in the Small Open Economies: Lithuania, Latvia and Taiwan”
On October 12th, 2023, the collaborative research group involving Taiwan, Latvia, and Lithuania achieved a successful feat by organizing an online seminar. The seminar’s theme was “Family Business in the Small Open Economies: Lithuania, Latvia, and Taiwan – Dynamic Managerial Capabilities and Organizational Resilience.” The primary aim of this seminar was to shed light on the significance of family businesses within small open economies and to present the ongoing research efforts related to family businesses in three distinct countries: Taiwan, Latvia, and Lithuania.
This seminar is part of a collaborative project involving Taiwan, Latvia, and Lithuania, which has received funding from the Research Council of Lithuania in cooperation with the Latvian State Education Development Agency, and Taiwan National Science and Technology Council. Its purpose is to offer scholars, students, and representatives from family businesses an insightful look into the state of family businesses within these respective economies. Additionally, the seminar aims to highlight potential research directions and opportunities in this area of study. The seminar drew over 50 participants from seven different countries, namely Indonesia, Vietnam, Taiwan, South Africa, the Kingdom of Bahrain, Lithuania, and Latvia. These participants represented a total of nine institutions, creating a diverse and international gathering for the exchange of knowledge and insights.
At the beginning of the seminar, Professor Shyh-jer Chen, the Principal Investigator of the Taiwan team, introduced the project. He presented an overview of the project’s objectives, the team members involved, the implementation plan, and the anticipated outcomes. The primary aim of this project is to explore the influence of dynamic managerial capabilities on the resilience of family businesses (FB) and their strategies for leadership succession planning during critical situations, such as the COVID-19 pandemic. The research is expected to yield globally comprehensive insights and will be carried out in both Western contexts (specifically Lithuania and Latvia) and Asian contexts (specifically Taiwan).
Within three years (2023-2025), the research groups have ambitious plans that encompass organizing academic seminars, conducting workshops to nurture the development of young researchers, participating in international conferences, and publishing research papers in reputable academic journals. The initial seminar served as a successful launch, featuring presentations by three distinguished professors who addressed captivating topics. This marks the beginning of an exciting journey in academia and research for the group.
Dr. Ilona Baumane-Vītoliņa, an Associate Professor in the Faculty of Business, Management, and Economics at the University of Latvia, started the main section by delivering a presentation on “Family Business in Latvia: Role and Current Research Trends.” Her talk commenced with an exploration of the diverse perspectives on the definition of “family” and how this concept relates to family businesses. Dr. Ilona provided an insightful overview of the state of family firms in Latvia, emphasizing the distinctions between such businesses and their non-family counterparts. Furthermore, she introduced prevalent topics within the family firm research domain and shared practical insights specific to Latvia, including family participation in management and entrepreneurship.
Dr. Neringa Gerulaitienė, an Associate Professor at Kaunas Technical University, addressed the audience with a presentation titled “Family Business in Lithuania: Role and Current Research Trends.” To begin, she initiated the session with engaging and thought-provoking warm-up quizzes. Subsequently, Dr. Neringa elaborated on the landscape of family businesses in Lithuania, incorporating findings from relevant studies and shedding light on potential future avenues for those who have an interest in this research domain.
Dr. Chiung-Wen Tsao, a Professor at the National University of Tainan and a Research Fellow at the NSYSU-Center for Strategy and Human Capital Research, proceeded with the seminar by delivering a presentation on “Family Business in Taiwan – Past, Present, & Future.” During this session, she delved into the characteristics of family businesses in Taiwan, focusing on aspects such as family ownership, family management, and family board involvement. Dr. Tsao also examined the development trajectory of a century-old company, providing concrete examples for illustration. Notably, she introduced the concept of “de-familization” within the context of family businesses, along with its ramifications for the performance of such enterprises. Her presentation concluded with a call for more engagement and contributions from both scholars and practitioners in exploring promising avenues for future research in this field.
Following three presentations, attendees energetically engaged in providing feedback and actively participated in the discussion segments. The organizers were grateful for the valuable comments given by distinguished scholars, practitioners, and young researchers. This first seminar within our project is deemed a successful precursor, setting the stage for forthcoming seminars and workshops focused on family business. Some photos of the first academic seminar are shown below:
2021 The 2nd Strategical Human Capital Conference: Future Issues and Trends
The Center has organized two conferences in the past two years. The 2021 Strategical Human Capital Conference was not only at a single location but also streamed online for attendees. 74 attendees attended the in-person conference, and 30 others joined online.
2020 Strategical Human Capital Conference: Future Issues and Trends
2020 Strategical Human Capital Conference: Future Issues and Trends
Date:Nov 20, 2020(Friday)
Time:9:30-17:00
Venue:EMBA Center, Library and Information Building 11F, NSYSU
Audience: Professors and Phd/master students of college of management