The family business: Next-generation leaders making their mark

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Entrepreneurship forms the DNA of many successful family-run firms. But as times change, how are the new breed of successors powering up family firms? Money Mind reports.

SINGAPORE: Despite its decades as an industry leader, joining the family’s Goldbell Group did not initially appeal to Alex Chua.

"During family dinners, or family holidays, you could see there was this different way of communication between him and my dad because it was always about business, how they do things, how we can improve.” Mr Chua joined Goldbell in 2012. He said back then, he did not have any skill set that his father thought was useful."Then he found me a role where I couldn’t cause much harm to the company even if I made a mistake," added Mr Chua, who began his journey with the company as head of marketing.

"We always think very long-term. Because we are family-run, our actions and the fruits of the actions can last a generation. We don’t have to see immediate returns, so with that, our value system is very different also," he said. As families plan their succession, experts said next-generation leaders typically look for clear mandates and a chance to build long-term careers.

 

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Changing of the guards & styles. It's down to how much hearsay corruption of 'educative' growing up existed in each persona. If some mentor along the way instill 'hug a tree', we will see baggage in that area. Welcome to the new show. The trending word is 'new normal'.

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