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. Based on a common research framework from STEP, each chapter introduces key findings and challenges existing theory, offering answers to two broad questions in the Asia Pacific context: How do business families and family businesses generate and sustain entrepreneurial performance across generations and how does entrepreneurial performance relate to the continuity, growth and transgenerational entrepreneurship of business families and family businesses? In doing so, the authors look at key issues faced by family business including dealing with communication issues across generations, resolving conflict between siblings, preparing and luring younger generations back to family business, and professionalization of business. The chapters go beyond the succession and governance challenges and explore the processes and outcomes of entrepreneurship in the Austral - Asian family context. Academics, teachers and students in business and management, entrepreneurship and family business, and Asian studies will find this path-breaking book of great value, as will libraries, policymakers and consultants. Contributors include: K. Au, S.-J. Chen, W. Chen, H.-M. Chung, J. Craig, M. Fu, W. Irava, R. Jha, W. Li, X. Li, Y. Li, D. Lin, Y. Lu, K. Moores, M. Morris, K. Ramachandran, B. Ren, S. Waiker, J. Ward, B. Yang, K.S. Yeh, H. Zhu

This book documents the distinctive experiences and challenges of Small and medium-sized enterprises (SMEs) in Asia. By assessing succession and innovation in SMEs as the two sides of a coin, this book explains how innovations are essential to SMEs in succession. With detailed case examples, the book provides generalized solutions for SMEs to answer the question of how to make succession and innovation simultaneously successful. The authors discuss the potential solutions to solve the challenges of SMEs on succession and innovation by considering the utilization of the capital market, the electronic commerce strategy, the international strategy, and angel investment to pursue portfolio entrepreneurship, and compare these Asia solutions to the experiences from Europe. The book is recommended for family business and SME owners, professionals serving these firms, and the consulting firms that work on continuity issues of SMEs in Asia.

This book documents the distinctive experiences and challenges of Small and medium-sized enterprises (SMEs) in Asia. By assessing succession and innovation in SMEs as the two sides of a coin, this book explains how innovations are essential to SMEs in succession. With detailed case examples, the book provides generalized solutions for SMEs to answer the question of how to make succession and innovation simultaneously successful. The authors discuss the potential solutions to solve the challenges of SMEs on succession and innovation by considering the utilization of the capital market, the electronic commerce strategy, the international strategy, and angel investment to pursue portfolio entrepreneurship, and compare these Asia solutions to the experiences from Europe. The book is recommended for family business and SME owners, professionals serving these firms, and the consulting firms that work on continuity issues of SMEs in Asia.