Navigating the Entry of the Next Generation

Abstract

Fan Chua, potential heir to a family business established by her father and his siblings, is in a situation where she disagrees with her uncle Ping on check disbursements to suppliers. The practices Ping follows do not conform with business best practices but serve to maintain long-standing loyal relationships. Fan has not discussed the situation, which involves overstock at the family stores, with her uncle or other elders in the business. If Fan were to take over the firm in eight years, however, she wants to establish practices that ensure the business is managed professionally.