External publications

When the younger generation takes over: Singaporean Chinese family businesses in Singapore in change

Hornidge, Anna-Katharina
External Publications (2004)

in: Internationales Asienforum 35 (1-2), 101-131

DOI: https://doi.org/10.11588/iaf.2004.35.457
Volltext/Document

In line with developments in Southeast Asia, Singapore's society and economy are undergoing rapid changes. This article focuses on how Singaporean Chinese family businesses cope with the challenges of change. I shall begin with an outline of the common characteristics of Chinese family businesses, their evolution, development and change. Based on an intensive study of eight Chinese family businesses in Singapore, I illustrate the changes experienced, ranging from technological, personal, organizational to managerial, including also changes in marketing strategies. A great number of external and internal factors of change exists, which partly overlap and influence each other. Nevertheless, there is consistency in my findings which show that different upbringings, educational backgrounds, and modes of socialization of the younger generation in the booming economy of modern Singapore are of major relevance for change when inter-generational transfer of ownership takes place.