I disagree with the agreement we made over the Harilela Enterprise

In a culmination of two articles I found, the first called  “Family businesses in this city are suffering” by Nysha Chandran and “Feuds threaten Asia's family businesses” by Katie Hunt: 

The article states that only 37% of family businesses in Hong Kong recorded growth last year, compared with the global average of 65% (PwC's '2014 Family Business Survey' showed). Arguably, this could suggest that the tough global environment means Hong Kong firms are sticking to a "business-minded" focus, rather than focusing on family or community issues.

Feuds are real- Unlike the harmonious debate we had during the class discussion over the Harilela case, feuds are really tearing family business apart limb from limb. For example:

·      Lee Kun-hee, the 70-year-old the chairman of electronics giant Samsung, was sued by both his brother and sister over company shares left by their late father.

·      India's richest man, Mukesh Ambani, became embroiled in a five-year dispute with his brother Anil over their father's vast Reliance empire

·      In Hong Kong 3 years ago, a bizarre row erupted over the future of billionaire Stanley Ho's Macau casino business that pitted Mr Ho against some of his own children.

Thus, I disagree with the agreement we made in class. I do not agree that the Harilela group should remain privatised. I think they should publicise their shares and possibly consider the franchise agreement.

In relation to the article Ed posted below titled “Constructing Globalised Ethnicity”, the founding fathers of the Harilela group managed to become ‘ethnic identity entrepreneurs’, which the article states is employing ethnicity as cultural capital to gain access to resources.

The first generation of the Harilela Group were lucky enough to draw on the prestige enshrined in the ethnic networks of Hong Kong, presenting themselves as the custodians of certain traditions, norms values, skills and ways of doing things.

But, it is unrealistic to assume that the second generation can carry this forward in my opinion. So, if any one wants to dispute my position, please comment below. I think privatising the shares will help the second generation enter foreign markets in a more publicised manner.