The Organizational Evolutions and Strategies of Family Businesses in Taiwan
Affiliation(s)
1 Department of Business Administration, Tamkang University, Taipei, Taiwan. 2 Department of Management Sciences, Tamkang University, Taipei, Taiwan. 3 Department of Food and Beverage Management, Mackay Junior College of Medicine, Nursing, and Management, Taipei, Taiwan.
1 Department of Business Administration, Tamkang University, Taipei, Taiwan. 2 Department of Management Sciences, Tamkang University, Taipei, Taiwan. 3 Department of Food and Beverage Management, Mackay Junior College of Medicine, Nursing, and Management, Taipei, Taiwan.
ABSTRACT
The family is, no doubt, the oldest and longest running social unit in our world. Families were formed along with small communities long before commerce began. In fact, families, often in connection with the local communities, sustained themselves by self-sufficient means [1]. Family businesses are most popular and play an important role in lots of countries, and also are the cornerstones of economic development in Taiwan. They not only expanded the Taiwan economy, participated and witnessed the economic miracle in the past, but also formed the main part of overall enterprise structure in Taiwan through creating a great deal of employments, and thus made a stable and prosperous social life [2]. Many large enterprises in Taiwan are composed by family business, and most of them were growing up and becoming robust after going through obstacles in the way. For example, the leading manufacturing company, Foxconn Technology Group was mold and die manufacturer at first, and many companies from the 10 biggest international brands published by the Ministry of Economic Affairs (2012) [3] such like ASUS, ACER, MAXXIS and GIANT were also grown up from family business or small enterprises. Now they are the models and mirrors for the family business. Through observation and review of mass literatures, this paper explores the organizational evolutions in structure and the possible appropriate strategies for the family businesses in Taiwan. The major findings in this study are: 1) the organizational evolutions are from simple structure to functional, divisional and compound structure; 2) the leadership patterns are from affection-directed to regulation-directed and rationality-directed approach; 3) the strategies are from localization to internationalization. Finally, this paper constructs an integrated model based on above findings.
The family is, no doubt, the oldest and longest running social unit in our world. Families were formed along with small communities long before commerce began. In fact, families, often in connection with the local communities, sustained themselves by self-sufficient means [1]. Family businesses are most popular and play an important role in lots of countries, and also are the cornerstones of economic development in Taiwan. They not only expanded the Taiwan economy, participated and witnessed the economic miracle in the past, but also formed the main part of overall enterprise structure in Taiwan through creating a great deal of employments, and thus made a stable and prosperous social life [2]. Many large enterprises in Taiwan are composed by family business, and most of them were growing up and becoming robust after going through obstacles in the way. For example, the leading manufacturing company, Foxconn Technology Group was mold and die manufacturer at first, and many companies from the 10 biggest international brands published by the Ministry of Economic Affairs (2012) [3] such like ASUS, ACER, MAXXIS and GIANT were also grown up from family business or small enterprises. Now they are the models and mirrors for the family business. Through observation and review of mass literatures, this paper explores the organizational evolutions in structure and the possible appropriate strategies for the family businesses in Taiwan. The major findings in this study are: 1) the organizational evolutions are from simple structure to functional, divisional and compound structure; 2) the leadership patterns are from affection-directed to regulation-directed and rationality-directed approach; 3) the strategies are from localization to internationalization. Finally, this paper constructs an integrated model based on above findings.
KEYWORDS
Family Businesses, Organizational Evolution, Strategy, Leadership Pattern, Integrated Model
Family Businesses, Organizational Evolution, Strategy, Leadership Pattern, Integrated Model
Cite this paper
Wang, C. , Chuang, H. , Liu, N. and Shih, H. (2014) The Organizational Evolutions and Strategies of Family Businesses in Taiwan. Open Journal of Business and Management, 2, 329-338. doi: 10.4236/ojbm.2014.24039.
Wang, C. , Chuang, H. , Liu, N. and Shih, H. (2014) The Organizational Evolutions and Strategies of Family Businesses in Taiwan. Open Journal of Business and Management, 2, 329-338. doi: 10.4236/ojbm.2014.24039.
References
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http://dx.doi.org/10.1111/j.1741-6248.2002.00045.x [17] Ward, J.L. (1987) Keeping the Family Business Healthy: How to Plan for Continuous Growth, Profitability, and Family Leadership. Jossey-Bass, CA. [18] Chua, J.H., Chrisman, J.J. and Sharma, P. (2003) Succession and Non-Succession Concerns of Family Firms and Agency Relationship with Nonfamily Managers. Family Business Review, 16, 89-107.
http://dx.doi.org/10.1111/j.1741-6248.2003.00089.x [19] Basco, R. and Pérez Rodríguez, M.J. (2009) Studying the Family Enterprise Holistically: Evidence for Integrated Family Business Systems. Family Business Review, 22, 82-95.
http://dx.doi.org/10.1177/0894486508327824 [20] Bee, C. and Neubaum, D.O. (2014) The Role of Cognitive Appraisal and Emotions of Family Members in the Family Business System. Journal of Family Business Strategy, 5, 323-333.
http://dx.doi.org/10.1016/j.jfbs.2013.12.001 [21] Granovetter, M. (1995) Coase Revisited: Business Groups in a Modern Economy.Industrial and Corporate Change, 4, 93-130. http://dx.doi.org/10.1093/icc/4.1.93 [22] Yiu, D.W., Lu, Y., Bruton, G.D. and Hoskisson, R.E. (2007) Business Groups: An Integrated Model to Focus Future Research. Journal of Management Studies, 44, 1551-1579.
http://dx.doi.org/10.1111/j.1467-6486.2007.00735.x [23] Anderson, R.C. and Reeb, D.M. (2003) Founding-Family Ownership and Firm Performance: Evidence from the S&P 500. Journal of Finance, 58, 1301-1327. http://dx.doi.org/10.1111/1540-6261.00567 [24] Arregle, J.L., Hitt, M.A., Sirmon, D.G. and Very, P. (2007) The Development of Organizational Social Capital: Attributes of Family Firms. Journal of Management Studies, 44, 73-95.
http://dx.doi.org/10.1111/j.1467-6486.2007.00665.x [25] Chou, L.F. (1995) Family-Type Enterprise (Translated from D.T. Taffe). Business Weekly, Taipei. [26] Mintzberg, H. (1983) Structure in Fives: Designing Effective Organizations. Prentice-Hall, Inc., Englewood Cliffs. [27] Zachary, R.K. and Mishra, C.S. (2011) The Future of Entrepreneurship Research: Calling All Researchers. Entrepreneurship Research Journal, 1, 1-13. [28] Winter, M., Fitzgerald, M.A., Heck, R.K.Z., Haynes, G.W. and Danes, S.M. (1998) Revisiting the Study of Family Businesses: Methodological Challenges, Dilemmas, and Alternative Approaches. Family Business Review, 11, 239-252. http://dx.doi.org/10.1111/j.1741-6248.1998.00239.x [29] Lawrence, P.R. and Lorsch, J.W. (1967) Organization and Environment: Managing Differentiation and Integration. Irwin, Homewood [30] Kellermanns, F.W. and Eddleston, K.A. (2004) Feuding Families: When Conflict Does a Family Firm Good. Entrepreneurship Theory and Practice, 28, 209-228.
http://dx.doi.org/10.1111/j.1540-6520.2004.00040.x [31] Harvey, M. and Evans, R.E. (1994) Family Business and Multiple Levels of Conflict. Family Business Review, 7, 331-348. http://dx.doi.org/10.1111/j.1741-6248.1994.00331.x [32] Berrone, P., Cruz, C. and Gomez-Mejia, L.R. (2012) Socioemotional Wealth in Family Firms: Theoretical Dimensions, Assessment Approaches, and Agenda for Future Research. Family Business Review, 25, 258-279. http://dx.doi.org/10.1177/0894486511435355 [33] Association of Chinese Management Science (ACMS) (1993) The Road to Success of Family-Type Enterprise. Taipei. [34] Bhaumik, S.K., Driffield, N. and Pal, S. (2010) Does Ownership Structure of Emerging Market Firms Affect Their Outward FDI? The Case of Indian Automotive and Pharmaceutical Sectors. Journal of International Business Studies, 41, 437-450. http://dx.doi.org/10.1057/jibs.2009.52 [35] Carney, M. (2005) Globalization and the Renewal of Asian Business Networks. Asia Pacific Journal of Management, 22, 337-354. http://dx.doi.org/10.1007/s10490-005-4114-z [36] Chung,H.M. (2013) The Role of Family Management and Ownership on Semi-Globalization Pattern of Globalization: The Case of Family Business Groups. International Business Review, 23, 260-271.
http://dx.doi.org/10.1016/j.ibusrev.2013.04.005 [37] Erdener, C. and Shapiro, D.M. (2005) The Internationalization of Chinese Family Enterprises and Dunning’s Eclectic MNE Paradigm. Management and Organization Review, 1, 411-436.
http://dx.doi.org/10.1111/j.1740-8784.2005.00021.x [38] Tsang, E.W.K. (2002) Learning from Overseas Venturing Experience: The Case of Chinese Family Businesses. Journal of Business Venturing, 17, 21-40.
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http://dx.doi.org/10.1111/j.1741-6248.1999.00197.x [46] Lin, W.T. (2014) Founder-Key Leaders, Group-Level Decision Teams, and the International Expansion of Business Groups Evidence from Taiwan. International Marketing Review, 31, 129-154.
http://dx.doi.org/10.1108/IMR-07-2012-0120 [47] Collins, L., Seaman, C., Graham, S. and Stepek, M. (2013) The Future of Family Businesses Education in UK Business Schools. Education+ Training, 55, 445-460. [48] Sandhu, N., Hussain, J. and Matlay, H. (2012) Entrepreneurship Education and Training Needs of Family Businesses Operating in the Agricultural Sector of India. Education+ Training, 54, 727-743. [49] Kansikas, J. and Laakkonen, A. (2009) Students’ Perceptions of Family Entrepreneurship—A Study on Family Business Academic Education. Management International, 14, 55-65. [50] Peters, M. and Buhalis, D. (2004) Family Hotel Businesses: Strategic Planning and the Need for Education and Training. Education+ Training, 46, 406-415. [51] Ibrahim, A.B., Soufani, K. and Lam, J. (2003) Family Business Training: A Canadian Perspective. Education+ Training, 45, 474-482. [52] Swierczek, F.W., Shrestha, P.K. and Bechter, C. (2005) Information Technology, Productivity, and Profitability in Asia-Pacific Banks. Journal of Global Information Technology Management, 8, 6-26.
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http://dx.doi.org/10.1016/j.jce.2004.07.002
[1] Ponzetti, J.J. (2003) International Encyclopedia of Marriage and Family. 2nd Edition, Macmillian Reference, New York. [2] Tsai, W.C. (2014) An Exploratory Study of Entrepreneurship in Taiwan’s Small & Medium Enterprises—Case Studies of Six Manufacturing Companies. Information Management and Business Review, 6, 109-114. [3] (2012) White Paper on Small and Medium Enterprises in Taiwan. [4] Heck, R.K.Z. and Stafford, K. (2001) The Vital Institution of Family Business: Economic Benefits Hidden in Plain Sight. In: McCann, G.K. and Upton, N., Eds., Destroying Myths and Creating Value in Family Business, Deland, Stetson University, 9-17. [5] Bosma, N., Jones, K., Autio, E. and Levie, J. (2008) Global Entrepreneurship Monitor: 2007 Executive Report. Babson College, Babson Park, MA and London Business School, London. [6] International Family Enterprise Research Academy (IFERA) (2003) Family Businesses Dominate. Family Business Review, 16, 235-240. [7] Zachary, R.K. (2011) The Importance of the Family System in Family Business. Journal of Family Business Management, 1, 26-36. http://dx.doi.org/10.1108/20436231111122263 [8] Morck, R. and Yeung, B. (2004) Family Control and the Rent-Seeking Society. Entrepreneurship Theory and Practice, 28, 391-409. http://dx.doi.org/10.1111/j.1540-6520.2004.00053.x [9] CCIS (2013) 2012 Business Groups in Taiwan. China Credit Information Service Ltd., Taiwan. [10] TWIOD (2013) 2012 Business Performance from China, Hong Kong and Taiwan. Taiwan Institute of Directors, Taiwan. [11] (2011) White Paper on Small and Medium Enterprises in Taiwan. [12] Chen, M.C. (1984) How the Family-Type Enterprises to Modernize Their Management? Common Wealth, Taipei. [13] Collins, L. and O’Regan, N. (2011) Editorial: The Evolving Field of Family Business. Journal of Family Business Management, 1, 5-13. http://dx.doi.org/10.1108/20436231111122245 [14] Miller, D. and Le Breton-Miller, I. (2005) Management Insights from Great and Struggling Family Businesses.Long Range Planning, 38, 517-530. http://dx.doi.org/10.1016/j.lrp.2005.09.001 [15] Chua, J.H., Chrisman, J.J. and Sharma, P. (1999) Defining the Family Business by Behaviour. Entrepreneurship Theory and Practice, 23, 19-37. [16] Astrachan, J.H., Klein, S.B. and Smyrnios, K.X. (2002) The F-PEC Scale of Family Influence: A Proposal for Solving the Family Business Definition Problem. Family Business Review, 15, 45-58.
http://dx.doi.org/10.1111/j.1741-6248.2002.00045.x [17] Ward, J.L. (1987) Keeping the Family Business Healthy: How to Plan for Continuous Growth, Profitability, and Family Leadership. Jossey-Bass, CA. [18] Chua, J.H., Chrisman, J.J. and Sharma, P. (2003) Succession and Non-Succession Concerns of Family Firms and Agency Relationship with Nonfamily Managers. Family Business Review, 16, 89-107.
http://dx.doi.org/10.1111/j.1741-6248.2003.00089.x [19] Basco, R. and Pérez Rodríguez, M.J. (2009) Studying the Family Enterprise Holistically: Evidence for Integrated Family Business Systems. Family Business Review, 22, 82-95.
http://dx.doi.org/10.1177/0894486508327824 [20] Bee, C. and Neubaum, D.O. (2014) The Role of Cognitive Appraisal and Emotions of Family Members in the Family Business System. Journal of Family Business Strategy, 5, 323-333.
http://dx.doi.org/10.1016/j.jfbs.2013.12.001 [21] Granovetter, M. (1995) Coase Revisited: Business Groups in a Modern Economy.Industrial and Corporate Change, 4, 93-130. http://dx.doi.org/10.1093/icc/4.1.93 [22] Yiu, D.W., Lu, Y., Bruton, G.D. and Hoskisson, R.E. (2007) Business Groups: An Integrated Model to Focus Future Research. Journal of Management Studies, 44, 1551-1579.
http://dx.doi.org/10.1111/j.1467-6486.2007.00735.x [23] Anderson, R.C. and Reeb, D.M. (2003) Founding-Family Ownership and Firm Performance: Evidence from the S&P 500. Journal of Finance, 58, 1301-1327. http://dx.doi.org/10.1111/1540-6261.00567 [24] Arregle, J.L., Hitt, M.A., Sirmon, D.G. and Very, P. (2007) The Development of Organizational Social Capital: Attributes of Family Firms. Journal of Management Studies, 44, 73-95.
http://dx.doi.org/10.1111/j.1467-6486.2007.00665.x [25] Chou, L.F. (1995) Family-Type Enterprise (Translated from D.T. Taffe). Business Weekly, Taipei. [26] Mintzberg, H. (1983) Structure in Fives: Designing Effective Organizations. Prentice-Hall, Inc., Englewood Cliffs. [27] Zachary, R.K. and Mishra, C.S. (2011) The Future of Entrepreneurship Research: Calling All Researchers. Entrepreneurship Research Journal, 1, 1-13. [28] Winter, M., Fitzgerald, M.A., Heck, R.K.Z., Haynes, G.W. and Danes, S.M. (1998) Revisiting the Study of Family Businesses: Methodological Challenges, Dilemmas, and Alternative Approaches. Family Business Review, 11, 239-252. http://dx.doi.org/10.1111/j.1741-6248.1998.00239.x [29] Lawrence, P.R. and Lorsch, J.W. (1967) Organization and Environment: Managing Differentiation and Integration. Irwin, Homewood [30] Kellermanns, F.W. and Eddleston, K.A. (2004) Feuding Families: When Conflict Does a Family Firm Good. Entrepreneurship Theory and Practice, 28, 209-228.
http://dx.doi.org/10.1111/j.1540-6520.2004.00040.x [31] Harvey, M. and Evans, R.E. (1994) Family Business and Multiple Levels of Conflict. Family Business Review, 7, 331-348. http://dx.doi.org/10.1111/j.1741-6248.1994.00331.x [32] Berrone, P., Cruz, C. and Gomez-Mejia, L.R. (2012) Socioemotional Wealth in Family Firms: Theoretical Dimensions, Assessment Approaches, and Agenda for Future Research. Family Business Review, 25, 258-279. http://dx.doi.org/10.1177/0894486511435355 [33] Association of Chinese Management Science (ACMS) (1993) The Road to Success of Family-Type Enterprise. Taipei. [34] Bhaumik, S.K., Driffield, N. and Pal, S. (2010) Does Ownership Structure of Emerging Market Firms Affect Their Outward FDI? The Case of Indian Automotive and Pharmaceutical Sectors. Journal of International Business Studies, 41, 437-450. http://dx.doi.org/10.1057/jibs.2009.52 [35] Carney, M. (2005) Globalization and the Renewal of Asian Business Networks. Asia Pacific Journal of Management, 22, 337-354. http://dx.doi.org/10.1007/s10490-005-4114-z [36] Chung,H.M. (2013) The Role of Family Management and Ownership on Semi-Globalization Pattern of Globalization: The Case of Family Business Groups. International Business Review, 23, 260-271.
http://dx.doi.org/10.1016/j.ibusrev.2013.04.005 [37] Erdener, C. and Shapiro, D.M. (2005) The Internationalization of Chinese Family Enterprises and Dunning’s Eclectic MNE Paradigm. Management and Organization Review, 1, 411-436.
http://dx.doi.org/10.1111/j.1740-8784.2005.00021.x [38] Tsang, E.W.K. (2002) Learning from Overseas Venturing Experience: The Case of Chinese Family Businesses. Journal of Business Venturing, 17, 21-40.
http://dx.doi.org/10.1016/S0883-9026(00)00052-5 [39] Peters, T. and Waterman Jr., R. (1982) In Search of Excellence. Harper Collins, New York. [40] Chung, C.N. and Luo, X.W. (2008) Institutional Logics or Agency Costs: The Influence of Corporate Governance Models on Business Group Restructuring in Emerging Economies. Organization Science, 19, 766-784. http://dx.doi.org/10.1287/orsc.1070.0342 [41] Hamermesh, D.S. and Pfann, G.A. (1994) Adjustment Costs in Factor Demand. Journal of Economic Literature, 34, 1264-1292. [42] Rogoff, E.G. and Heck, R.K.Z. (2003) Evolving Research in Entrepreneurship and Family Business: Recognizing Family as the Oxygen that Feeds the Fire of Entrepreneurship. Journal of Business Venturing, 18, 559-566. http://dx.doi.org/10.1016/S0883-9026(03)00009-0 [43] Danes, S.M., Lee, J., Stafford, K. and Heck, R.K.Z. (2008) The Effects of Ethnicity, Families and Culture on Entrepreneurial Experience: An Extension of Sustainable Family Business Theory. Journal of Developmental Entrepreneurship, 13, 229-268. http://dx.doi.org/10.1142/S1084946708001010 [44] Heck, R.K.Z., Danes, S.M., Fitzgerald, M.A., Haynes, G.W., Jasper, C.R., Schrank, H.L., Stafford, K. and Winter, M. (2006) The Family’s Dynamic Role within Family Business Entrepreneurship. In: Poutziouris, P.Z., Smyrnios, K.X. and Klein, S.B., Eds., Handbook of Research on Family Business, Edward Elgar Publishers, Cheltenham, 80-105. http://dx.doi.org/10.4337/9781847204394.00014 [45] Stafford, K., Duncan, K.A., Danes, S.M. and Winter, M. (1999) A Research Model of Sustainable Family Businesses. Family Business Review, 12, 197-208.
http://dx.doi.org/10.1111/j.1741-6248.1999.00197.x [46] Lin, W.T. (2014) Founder-Key Leaders, Group-Level Decision Teams, and the International Expansion of Business Groups Evidence from Taiwan. International Marketing Review, 31, 129-154.
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