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- W3200312729 abstract "By integrating two lines of research, namely family business and portfolio entrepreneurship, this chapter studies the case of Taiwan’s King Car Group, founded by a prototypical habitual entrepreneur, Tien Tsai Lee (T.T. Lee), who keenly sought out new opportunities and expanded his businesses in tandem with Taiwan’s economic growth and transformation. A family business with unified ownership and management along with a visionary leader can enjoy quick decision making and improved performance. As the business and managing family grow in size, however, managerial mechanics needs to change and succession needs to be prepared. Given that multiple generations usually work together in the family business and longevity is the utmost goal for such organizations, it is argued that studies on family business governance can benefit from drawing on concepts of intergenerational perspective and transgenerational entrepreneurship. The former is associated with life-cycle theory, which enriches our understanding of family business governance through different perspectives on the growth stages of a family business, while the later underlines the importance of entrepreneurship renewals. The case of the King Car Group shows that it has reached the diversification stage of its life-cycle, and the baton has been passed to the second generation with the third generation working in the group. It is high time for the King Car Group to consider hiring external professionals or to tap outside funding to energize entrepreneurial renewal and ensure the long-term sustainability of this family business." @default.
- W3200312729 created "2021-09-27" @default.
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- W3200312729 date "2021-04-27" @default.
- W3200312729 modified "2023-09-23" @default.
- W3200312729 title "Family business and portfolio entrepreneurship : The case of Taiwan’s King Car Group" @default.
- W3200312729 doi "https://doi.org/10.4324/9780429342813-22" @default.
- W3200312729 hasPublicationYear "2021" @default.
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