Abstract

The ethnic-Chinese business is often characterised by a central role of the family both in the structure of the firm and in its corporate culture. This has political, social as well as cultural reasons. The centrality of the family in business has its advantages and disadvantages. On the one hand, it enables a fast, efficient and flexible process of decision-making. On the other hand, it often contradicts modern business professionalism. The younger generation of ethnic-Chinese business actors tend to preserve crucial elements of such family-centred characteristics. Yet, globalisation drives them to transform their business style, lessening its dependence on family resources and adopting more-modern professional ideas. Changes in current political situation, religious-cultural trend, demography and education contribute to making possible the transformation.