The case provides an overview of Lee Kum Kee’s development as a family business in the past ten years, i.e. since the 2002 inauguration of a Family Council and other structures that constitute its “enterprising family” model. These include the Family Office, which has a non-investing role; the Learning and Development Unit which creates soft linkages across family institutions and generations; and the charitable foundations linked to the family as well as the business. The case examines these structures’ contribution to the company’s continued growth and success. It also maps out the fourth-generation owners’ long-term mission to promulgate and disseminate a robust set of core values. In interactions with the outside world, this dissemination has taken the form of public speaking, publishing and philanthropic activities, often synthesizing the tenets of Chinese tradition with modern-day life and business.
In regions such as Asia, family-controlled companies have not only played an important business role but have also acted as agents of broader social, economic and nation-building change. This case belongs to a series of company cases that exemplify best practices in family, ownership, succession and business governance. It illustrates the unique perspectives that leading family-owned and family-controlled businesses in emerging markets in Asia bring to global learning on family business. It invites to learn about local family firms and understand their view on shaping positive and sustainable visions for the future, anchored in an increasingly global environment.
Lee Kum Kee, Health Care, Consumer Goods, Food Seasoning, Consumer Goods, Food and Beverage
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