Family Enterprise in the Asia Pacific

Family Enterprise in the Asia Pacific

Exploring Transgenerational Entrepreneurship in Family Firms

Edited by Kevin Au, Justin B. Craig and K. Ramachandran

This book analyzes the findings reported in the first Asia Pacific summit of the Successful Transgenerational Entrepreneurship Practices (STEP) project. Researchers in Australia, China, and India discussed eleven in-depth case studies to shed light on the challenges that business families and family businesses faced in continuing and extending their entrepreneurial capabilities across multiple generations.

Chapter 5: Menshy Battery’s Chen Family: An Overseas Educated Generation Turns to Export

Bing Ren, Bin Yang and Ya Li

Subjects: asian studies, asian business, business and management, asia business, entrepreneurship, family business, international business

Extract

Weiwen Li, Yuan Lu, Danming Lin and Kevin Au INTRODUCTION Menshy Battery is one of the most innovative companies operating today in the very small niche market for motorcycle lead acid batteries. Entrepreneurship and entrepreneurial orientation (EO) with regard to Menshy have gone through dramatic changes since its founder passed the baton to his eldest son. The act of entrepreneurship is defined as new entry accomplished by entering new or established markets with new or existing goods or services (Lumpkin and Dess 1996). EO refers to the processes, practices and decision-making activities that lead to new entry (Lumpkin and Dess 1996). The key dimensions of EO include autonomy, innovativeness, risktaking, proactiveness and competitive aggressiveness. Before the leadership transition, Menshy was entrepreneurial in the sense that it was sensitive to market changes and quick enough to explore new industries that arose from those changes. After the leadership transition, Menshy continued to be entrepreneurial; however, its focus has changed to exploiting a niche market through innovation and export. As Menshy’s new entries were driven by different configurations of the dimensions of EO, the company’s entrepreneurial orientation changed accordingly. When the founder was the engine of entrepreneurship, Menshy’s entrepreneurial activities were mainly driven by the firm’s proclivity for risk-taking and proactiveness. After the CEO succession, Menshy was able to accomplish new entries because of its autonomy, innovativeness and competitive aggressiveness. In this chapter we will demonstrate how entrepreneurship and EO changes within Menshy are linked to the different backgrounds of its two 76...

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