Families across Asia have gradually become more professional in managing not only their businesses but their personal wealth and philanthropic interests, as evidenced by the growing number of family offices and family foundations. The Chen Yet-Sen Family Foundation (the Chen Foundation), run by third-generation heir James Chen, devotes time and resources to literacy initiatives, and to so-called "venture philanthropy" and "social enterprise". The Foundation also allows fourth-generation Chens to rally round and build consensus on how the family should develop its business and philanthropic interests in the years ahead, in line with the motto "To whom much is given, much is expected."
This case provides an overview of the issues and opportunities created by a family foundation. Students will explore the implementation process and develop an understanding of professional practices that support the effective development of a family foundation strategy.
- Family wealth
- Family office
- Social entrepreneurship
- Venture philanthropy
- Next generation
- Family business
- Corporate Governance
- Corporate Governance for Family Firms
- Social entrepreneurship, impact investing, philanthropy
- Succession, next generation