Q&A with Viventis’ Yu Ming Chin on Transition From Family to Professional Management

Q&A with Viventis’ Yu Ming Chin on Transition From Family to Professional Management

Entrepreneurship, Execution, interviews, Q&A
Q1: There is always a crossroad with growing family enterprises – that of professionalizing by hiring an experienced outsider or continuing governance within the family. How can you help in this regard? A: When a family enterprise is ready to professionalize, the first things that need to be done are the drawing up of the family governance constitution and the selection of an independent family board member. Sometimes, growing family enterprises experience failure when it’s being transferred from generation to generation and taking the aforementioned steps can help avoid that failure. We have relevant expertise in these areas. Q2: Are there traits you look for within a family before you think that they are ready to hire a professional? A: The three things I look at are Scale, Skills, and…
Read More