留學生MBAdissertation定制-中國人的價值觀和中國經濟轉型時期的中小企業戰略：如何接近西方？-Chinese Values an
          
                
          
                    
                    
          留學生論文網
          
                    
           07-27, 2011
          
                
          
                
          留學生MBAdissertation定制-中國人的價值觀和中國經濟轉型時期的中小企業戰略：如何接近西方？結果塑造中國首席執行官具有雙重價值觀既包括企業和保守的價值則是必要的成功的商業運作的chinese context。研究結果表明，entrepreneurial conservative continuum并不適用，簡單到中國大陸的首席執行官所描繪的西方文學和協會之間的價值觀和戰略更為復雜。
          
Chinese Values and SME Strategy in the Chinese Economic Transition: How Close Are They to the West?
          
Ke Gao and Bernice Kotey
          
Abstract
          
The economic reform in China is creating a cultural context in which bothWestern and Eastern value systems relevant to business coexist.
          
Althoughthe influence of Western culture on overseas Chinese ownermanagersisdiscussed in the literature, it is unclear as to what extent Chinese CEOs onthe mainland exhibit entrepreneurial as opposed conservative values andhow their positions on the entrepreneurialconservativecontinuum affecttheir strategic decisions. These issues are addressed in this study and
          
interrelationships among the Rokeach and Chinese personal value systemsassessed. The findings portray the Chinese CEO as having a dual valuesystem comprising both entrepreneurial and conservative values both ofwhich are necessary for successful business operation in the Chinesecontext. The findings reveal that the entrepreneurialconservativecontinuumdoes not apply as simply to the mainland Chinese CEOs as depicted in theWestern literature and that the association between Chinese values andstrategies is more complex.
          

          留學生MBAdissertation定制Key Words: Chinese values, entrepreneurship, Strategy, SME
          

          Introduction
          
The economic transition in China has created a business context in whichboth Chinese and Western cultural values coexist
          
and/or converge (Mattews2000, Guan and Dodder 2001), ultimately creating a mix of Chinese and
          
Western personal values among Chinese CEOs (Lu 2003). The level ofWestern as opposed Chinese personal values exhibited by Chinese CEOsdepends on their individual circumstance, including the extent of contactwith Western culture. The literature portrays Chinese living outside themainland as highly entrepreneurial and successful (Yu 2001). Researchers
          
such as Li (2006), Ward et al (2002), Zapalska and Edwards (2001), allreport high levels of entrepreneurial characteristics among Chinese familybusiness CEOs residing outside the mainland. However, others argue that
          
Chinese values, based on collectivism, are basically not relevant toentrepreneurship, an individualistic concept (Kirby and Fan 1995). Theextent to which Chinese CEOs on the mainland exhibit entrepreneurial valuesand the influence of these values on their business strategies are questionsyet to be addressed in the literature. Research on the association betweenthe ‘bone deep’ Chinese values and ‘skin deep’ Western values of ChineseCEOs of SMEs on the mainland, and how the two together affect theirstrategic orientations is rare (Alon 2003, Kirby and Fan 1995), especially in#p#分頁標題#e#
          
the current context of transition from a planned to market economy. Theseare the issues addressed in this research.
          
Answers to the above questions cannot be inferred from the existingliterature which is based mainly on SMEs outside the mainland (Tan 1996).This is because there are major differences between Chinese SMEs outside
          
the mainland and those on the mainland. First, those outside the mainlandsuch as Singapore and Hong Kong operate in near ‘market’ economies whereentrepreneurial values and business strategies have been well assimilated by
          
their CEOs. The values and business strategies of Chinese CEOs outside themainland are likely to be close to those of their Western counterparts. Incontrast, CEOs on the mainland started their businesses in an economycloser to a planned than a market economy. Second, the majority ofresearch on Chinese SMEs outside the mainland is based on family
          
businesses, totally owned by one family (Yu 2001, Sheh 1993, 2001). Incontrast, SME ownership structure is more complex for Chinese SMEs on themainland (Chen, Li and Matlay 2006, Shrivastava 2001). Unlike theiroverseas counterparts, the majority of mainland CEOs acquired theirbusinesses in ways other than by inheritance or purchase because therewere no private businesses before the economic reform. There are thereforeclear gaps in the literature in this area.Definitions
          
SME in China. The definition of SME in this study conforms to that issued by
          
the government in 2003 (National Development and Reform Commission,2003). SMEs are identified by the total number of employees on their payrolland the cutoffpoints vary by industry sector. In manufacturing such as thetextile industry, enterprises with less than 300 employees are classified assmall, while those with employee numbers between 300 and 2000 aregrouped as mediumsizedfirms.
          
CEO. In this study, the CEO is the major decision maker in a SME. It is oftenthe case in the textile industry in Shaoxing, where this study was conducted,that there is more than one owner for a SME. This is because during theinitial stages of the economic reform, township and village enterprises(TVEs) were started owned by towns or whole villages and managed by
          
CEOs appointed by the town council or collective shareholders. Over time the
          
CEOs have acquire majority shares in these TVEs. Another form of SME in
          
this industry is the foreign joint venture partly owned by the Chinese CEOs.
          
Finally, the large capital investment required in this industry means business
          
partner(s) are needed to reduce the capital burden so that a partnershipownership structure is common. Although the CEOs donot solely own theseenterprises, they are majority shareholders and major decisionmakers.
          
Literature Review
          
Personal Values and Strategies Behaviour
          
There is general consensus that values provide a powerful explanation ofhuman behaviour because they serve as standards or criteria for evaluatinginformation and assessing conduct (Sagiv and Schwartz 1995, Williams#p#分頁標題#e#
          
1968, England 1967) and form the basis of individual perception (England1967). Personal values therefore determine management decisions and
          
actions. Several researchers have studied the extent to which personalvalues influence management decisions and behaviour (for example, Nonisand Swift 2001, Cannella and Monroe 1997, Roccas et al 2002, Kotey andMeredith 1995). Guth and Tagiuri (1965) argue that since personal valuesare an intrinsic part of personal life and behaviour, managers must use themas criteria in making management decisions. The authors conclude thatpersonal values are “one of the determinants of a manager’s concept of whathis company strategy ought to be” (cited from Barnett and Karson 1987:372). Freeman et al (1988) share this position asserting that values havealways been a crucial element in models of strategic management and thatthey are the reasons for and causes of strategic behaviour. The authorscontend that an intentional business action such as decisionmakingresultsfrom certain desires and beliefs both of which are motivated by the need tosatisfy certain values. Andrews’ (1980) model (the Harvard Policy Model)also emphasise the central role of values in understanding business strategy.
          
Researchers have since investigated empirically the association between thepersonal values of business owners and the strategies they adopt inoperating their businesses. This association has been found to be especiallystrong for SMEs where the ownermanager’sdesires and values are closelyaligned with business activities and outcomes (Covin and Slevin 1989, Koteyand Meredith 1997, Dess et al 1997).
          
Entrepreneurial Values, Proactive Strategic Orientation, and
          
Performance of SMEs
          
Entrepreneurial values such as innovation, individualism, ambition,achievement, reliability, and independence are widely believed to facilitate aproactive strategic orientation and pursuit of emerging market opportunities(Miles and Friesen 1982, Covin and Slevin 1989), ultimately leading to aboveaverage business performance (Kotey and Meredith, 1997). In contrast,conservative personal values are linked with reactive strategies and lowerperformance. England (1975) reports that “successful managers favourpragmatic, dynamic, achievementorientedvalues while less successfulmanagers prefer more static and passive values” (p. 7). Miller and Friesen
          
(1982) and Miller (1983) adopt a contingency approach grouping small firmsin different industry sectors into entrepreneurial and conservative firms. Theformer are found to exhibit a proactive strategic orientation (innovating toachieve competitive advantages), whilst the latter are reactive in thestrategies employed. Covin and Slevin (1989) report that in an uncertainenvironment, entrepreneurial SMEs are likely to achieve higher performancewhen they adopt proactive strategic postures. Similarly, Gray (1997) notes apositive relationship between proactive business strategy and businessgrowth.
          
In contrast, reactive or conservative strategies are linked with riskaversenessand lack of innovation in business decisions (Covin and Slevin1989). Businesses with reactive strategic orientations are usually imitators,following leaders in their industries, but with inconsistent activities in theirstrategies. They tend to compete on the basis of lowest market price and#p#分頁標題#e#
          
highest quality (Kotey and Harker 1998). Since ownermanagersare the
          
major decision makers in their businesses, the proactive or reactive activitiesof the business can be ascribed to their entrepreneurial or conservativevalues respectively (Morris and Lewis 1995). While the literature presentsthese extreme positions in strategic orientation, in reality, all businessactivities cannot be classified as completely proactive or reactive.
          
Entrepreneurs may adopt a hybrid strategy within the proactivereactivecontinuum (Kotey and Harker 1998) because it is the best position within theindustry at the time. Morris and Lewis (1995) point out thatentrepreneurship is not an either/or determination, but a question of“degree” and “amounts”. Thus, for purposes of this research, CEOs’ strategicorientations are assessed by the level of proactivenessportrayed in eachset of functional area activities. Whilst the positive association betweenentrepreneurial values and proactive strategic orientation is well establishedin the Western literature, few authors have vigorously examined the issueeither empirically or theoretically in Chinese SMEs (Li 2006, Luo 1999). It isquestionable whether the conclusions of the Western literature apply in theChinese context, especially for SMEs on the mainland. Thus the followinghypotheses are proposed:
          
Hypothesis 1: There is a positive association between entrepreneurial valuesand proactive strategies for Chinese CEOs of SMEs on the mainland.
          
Hypothesis 2: Chinese CEOs of SMEs on the mainland with conservativepersonal values will be less proactive in strategic orientation.
          
Western Culture in Chinese Transitional Economy
          
Personal values can be shaped by contact with other cultures (Berry et al2002, Lu 2003, Guan and Dodder 2001). Berry et al (2002) argue that one
          
result of the contact with and influence of another cultures is that peoplefrom the nondominant
          
culture may become transformed and form newethnocultural
          
groups with a new set of values. Guan and Dodder (2001)
          
conclude that crosscultural
          
contacts lead to changes in personal values and
          
that the longer the duration of the contact, the greater the changes become.
          
From this point of view, although Chinese values will be dominant in anystudy of personal values of the Chinese CEOs of SMEs on the mainland,some Western values may be visible, particularly, for Chinese CEOs whohave experienced Western culture through education, travel and/orbusiness. In general, the transition to an open economy, involving increasedglobalisation and migration, has resulted in Chinese traditional values andculture being influenced by Western culture.
          
The Western influence, however, is reflected in material things and is merely“skin deep”, while the Chinese still maintain their traditional values in theway they think and behave, so that the Chinese values remain “bone deep”(Lu 2003). For example, conflict is often seen as a way of developingunderstanding and respect for one another in the West. In China, people#p#分頁標題#e#
          
prefer to avoid conflict by enhancing the relationship and developingharmony (Alon 2003). Even with differences in culture and values between
          
the East and West, researchers suggest that Eastern and Western culturescan coexist
          
in an industrialized nation (Mattews 2000, Guan and Dodder2001, Hofstede and Bond 1988, Alon 2003). This is because the valuesunderlying the two cultures partly overlap. For example, by comparing thetwo value dimensions: Hofstede’s (1980) value dimensions and Chinesevalue survey (CVS) developed by Chinese Cultural Connections (1987),
          
Hofstede and Bond (1988) find that three of the four Hofstede’s dimensions(that is, power distance, uncertainty avoidance, and masculinity)significantly correlate with three of their four CVS dimensions (integrity andtolerance, Confucian ethos, loyalty to ideals and humanity, and moderationand moral discipline). This means that both cultural systems maycomplement each other. Unfortunately, few studies have examined theextent to which CEOs in Chinese SMEs exhibit both Chinese and Western
          
values relevant to business management.Chinese Values Associated with Business Management
          
Research investigating the associations between Chinese values andbusiness performance among overseas Chinese family businesses (for
          
example, Kwan and Ofori 2001, Ward et al 2002, Zapalska and Edwards2001, Sheh 1993, 2001), identify four distinct personal value dimensions ascritical to business operation and performance: familism (“留學生MBAdissertation定制家庭觀念” inChinese), humanism (“人本主義” in Chinese), hierarchy (“等級觀念” inChinese), and personal relationships (“人際關系” or guanxi in Chinese).
          
Although Guanxi plays a critical role in business operation in China,particularly in building business networks, there is controversy aboutwhether or not it can be regarded as a personal value dimension. In theCVS, guanxi is not recognized as a value. Rather, many researchers treatguanxi as a socioculturalfactor within the Chinese context (for example,
          
Carlisle and Flynn 2005, Huang and Bin 2006, Park and Luo 2001, Chen andChen 1998, Chow 1997). In this study Guanxi is excluded as a personal
          
value dimension.
          
Familism is an important value associated with Confucianism (Yu 2001, Lee1996, Lu 2003). “Family” as a Confucius’ concept is broad – the whole nation
          
can be viewed as a family (the socalled“grand socialist family”) and everyorganization is also a family. From this point of view, all SMEs are differentfamilies. Within a family, there are different roles: organizational leaders are“parents” and employees are “other members”. The activities and personallives of employees are closely connected to those of the businesses in which
          
they work. The managers of these businesses also function as parents inextended families, responsible for both managing the business and solvingemployee’s personal problems (Xing 1995). Thus, in modern Chinesesociety, the Chinese traditional family concept has been transformed into“familism”, emphasizing moral values and obligations of all members(Zapalska and Edwards 2001). Values such as loyalty, solidarity, patriotism,filial piety and trustworthiness underlie the familism dimension of Chinesevalues (Sheh 1993, 2001).#p#分頁標題#e#
          
In pursuit the familism values, Chinese CEOs prefer to recruit familymembers, relatives, and friends, so that nepotism is high in Chinese SMEs(Zapalska and Edwards 2001). This behaviour is based on the principle ofvalue identity and is consistent with the Confucian values that stresscollectivism and group behaviour (Sheh 2001). Preference for familymembers as employees in SMEs enables sharing collective ideas and ensures
          
group harmony.
          
The majority of overseas Chinese SMEs are family owned (Tsai et al 2006,Yen 1996). The influence of the family in business is very powerful because
          
CEOs are also family members (Yen 1996) and the business is perceived asan extension of the CEO’s family. The family members are required topreserve and increase wealth, status, and social recognition and pass themon to future family members and businesses (Zapalska and Edwards 2001).
          
This cultural legacy is important in shaping the Chinese managerial style.
          
Familism reduces the incentive to be individually opportunistic and maydiscourage entrepreneurship.
          
In the West CEOs of small family businesses are also perceived asconservative, preferring to keep their businesses small so they can maintaincontrol within the family (Kotey 2005). Nevertheless, family businesses havebeen found to be more efficient but exhibit equal performance to nonfamilyfirms (Anderson and Reeb, 2003). Since conservative values are associatedwith a less proactive strategic orientation, it is expected that Chinese CEOswho rate high on familism will exhibit conservative Western values and willbe less proactive in strategic orientation. Thus, it is hypothesized as follows:
          
Hypothesis 3a: Familism is positively associated with Western conservativepersonal values for Chinese CEOs of SMEs on the mainland.
          
Hypothesis 3b: Familism correlates negatively with Western entrepreneurialpersonal values for Chinese CEOs of SMEs on the mainland.
          
Hypothesis 3c: Chinese CEOs of SMEs on the mainland who rate high onfamilism will be less proactive in strategic orientation.
          
Humanism is another important Confucian value concerning humancenteredness,
          
which covers values such as courtesy, magnanimity, good
          
faith, diligence, and kindness (de Bary et al 1960). In overseas Chinese
          
SMEs a CEO’s humanism values will ultimately develop into a cordial, relaxed
          
and friendly relationship among fellow employees (Sheh 2001). The
          
downplaying of self and upgrading of relationships is highly valued. Based on
          
humanistic values, seniority and good behaviour rather than good
          
performance plays an important role in employee promotion (Sheh 1993).
          
Humanism is very helpful in building a harmonious work environment since
          
conflicts between people at different levels are avoided.
          
Whilst humanism is also important to business in the West, it is overlayed by
          
the wellestablished
          
legal systems that caution the separation of personal
          
relationships from business relationships. Business relationships in the West#p#分頁標題#e#
          
are governed by contracts that spell the rights and obligations of each party
          
and ensure that transactions are at arms length. Excessive humanism and
          
over reliance on relationships for business transactions are contrary to
          
Western entrepreneurship. However, Kotey and Meredith (1997) report that
          
small business owners who rate high on entrepreneurial values also rate
          
high on humanism and attend to the welfare of their employees. These
          
businesses achieve above average performance. The four values of
          
Confucian Dynamism developed by Hofstede and Bond (1988), persistence
          
(or perseverance), ordering relationships, having a sense of shame and thrift
          
reflect humanism and have been found to be associated with individuals or
          
nations that desire success. It appears therefore that the humanism value
          
dimension has both Western entrepreneurial and conservative elements.
          
Based in the above discussions the following hypotheses are developed for
          
testing:
          
Hypothesis 4a: Humanism is positively associated with Western
          
entrepreneurial personal values for Chinese CEOs of SMEs on the mainland.
          
Hypothesis 4b: Humanism correlates positively with Western conservative
          
personal values for Chinese CEOs of SMEs on the mainland.
          
Hypothesis 4c: Chinese CEOs of SMEs on the mainland who rate high on
          
humanism are proactive in strategic orientation.
          
Referred to as ordinal relationship, hierarchy is another core value of
          
Confucianism that influences Chinese management. As mentioned above,
          
the majority of Chinese SMEs are family businesses with strong emphasis on
          
hierarchical order based on the family structure (Zapalska and Edwards
          
2001, Sheh 2001). This family hierarchical structure is replicated in
          
business, encouraging CEOs to sometimes abuse the excessive power
          
invested in them. CEOs must be respected and looked up to as the source of
          
all power within the business. They must also maintain a high social status,
          
a situation which Hellriegel et al (2001) refer to as “highcontext
          
culture”.
          
Employees should show loyalty and obedience to their supervisors/superiors
          
and the latter should in return look after and care for employees’ welfare.
          
Thus, everyone in an organisation understands the centre of power.
          
In the West, hierarchical structures involving bureaucracy and redtapism
          
are seen to stifle creativity and to deter entrepreneurship (Burgelmand,
          
1983). However, centralisation of decisionmaking
          
power with one or few
          
persons enables speedy and proactive response to opportunities and threats.
          
Entrepreneurship is also associated with the need for and the exercise of
          
power (McClelland 1961). The need for power is consistent with
          
entrepreneurial values such as individualism, independence, and autonomy.
          
However, the abuse of power vested in the entrepreneur usually has#p#分頁標題#e#
          
negative consequences for the business. In addition, opportunities for
          
performance improvement are lost when employees are excluded from the
          
decisionmaking
          
process (Sheh 2001). It appears therefore that the Chinese
          
hierarchy value dimension could correlate either positively or negatively with
          
the Western entrepreneurial value dimension, depending on how the power
          
vested in the CEO is used. However, the Chinese hierarchy value dimension
          
does not reflect a Western conservative value position. The hypotheses
          
below are developed for testing:
          
Hypothesis 5a: The Chinese hierarchy value has a positive association with
          
Western entrepreneurial personal values for Chinese CEOs of SMEs on the
          
mainland.
          
Hypothesis 5b: The Chinese hierarchy value correlates negatively with
          
Western entrepreneurial personal values for Chinese CEOs of SMEs on the
          
mainland. .
          
Hypothesis 5c: Chinese CEOs in SMEs who rate high on hierarchy are
          
proactive in strategic orientation.
          
The above discussions are summarized in the theoretical framework (Figure
          
1).
          
Research Method
          
Sampling and Data Collection
          
The study is based on SMEs in the textile industry in the Shaoxing region of
          
Zhejiang province. The local textile industry comprises 5,230 firms, the
          
majority SMEs. It is difficult to collect a largesample
          
at firmlevel
          
in China
          
because data collection is looked upon with suspicion and is not widely
          
accepted (Davis and Walters 2004, Lucas et al 2001). For this study,
          
assistance and support was sought from the Shaoxing Textile Engineering
          
Association (STEA), a semiofficial
          
organization affiliated with the Shaoxing
          
Economic Development Bureau, to request data from a representative
          
sample. This is an approach often used by Chinese researchers as such
          
cooperation reduces possible doubt and cost (for example, Luo and Chen
          
1997, Davis and Walter 2004, Tan et al 2006, Wu and Leung 2005). STEA
          
has more than 2,900 members from the local textile industry and often
          
organizes seminars and an annual textile exhibition. It is evident that
          
cooperation with STEA would increase the return rate of the questionnaire.
          
In this study, data was collected through a structured questionnaire with
          
four sections comprising: a modified version of Rokeach (1973) personal
          
value instrument, the Chinese value instrument, business strategies, and
          
business and ownermanager
          
details in sections A, B, C and D respectively.
          
The questionnaire was distributed to CEOs of SMEs at a conference
          
organized by STEA. More than 500 senior managers attended the
          
conference. On registration, each delegate was provided with a
          
questionnaire in the conference kit and requested to complete and return it
          
to the reception desk at the end of the conference. Delegates who were not
          
CEOs such as Vice CEO or CFO were advised not to complete the#p#分頁標題#e#
          
questionnaire. In all, 532 questionnaires were distributed to the conference
          
delegates and 381 questionnaires were returned, a response rate of about
          
72%. Questionnaires with incomplete responses were excluded and 309 out
          
of 381 questionnaires were used in the analyses.
          
Measurement of Variables
          
Personal Values. In this study, values selected from both the Rokeach
          
(1973) personal value instruments (PVS), and the Chinese Value Survey
          
(CVS), were used to measure CEOs’ personal values. PVS is believed to be a
          
simple and efficient means of discovering the relative importance of values
          
within and among individuals (Gibbins and Walker 1993). It is widely used
          
and accepted by psychologists, political scientists, economists, and other
          
researchers in the West (Johnston 1995, Braithwaite and Law 1985). PVS is
          
criticized for its lack of comprehensive and representative coverage of the
          
value domain, inaccurate classification of values, and for the use of a
          
ranking rather than a rating scale. However, one cannot denigrate the
          
practical application of Rokeach’s value instrument and deny the reliability
          
and validity of an approach that has been used by many researchers
          
(Braithwaite and Law 1985).
          
PVS stems from a typical Western context and excludes values relevant to
          
the Chinese context (Bond 1988, Hofstede and Bond 1989). It seems clear
          
that the PVS alone may have limitations for describing Chinese value profiles
          
(Peng et al 1997). The current study is concerned with the Chinese context
          
which differs in several respects from the West. Thus, the CVS derived from
          
the Confucian ethos, comprising 40 fundamental values and developed by
          
Chinese Culture Connection (1987) was also used to examine value systems
          
in the Chinese cultural context. Bond (1988) contends that CVS and PVS can
          
be used together as an integrated instrument to measure values since they
          
complement each other. He reported that some value items in the two
          
instruments overlap while others are unique.
          
The personal value items selected from both instruments are supported by
          
literature. Values included in the PVS instrument are used to measure the
          
entrepreneurialconservative
          
propensity. Researchers provide evidence that
          
Western values such as innovation, risk taking, a need for achievement,
          
imagination, trust, and broadmindedness are associated with entrepreneurial
          
behavior and business success (England 1967, Rokeach 1973, Boohene
          
2006). Others including Kuratko, Hornsby and Naffziger (1997) and Gadenne
          
(1998) identify that personal development and desire for independence
          
determine the direction of management in the organization. Individualism,
          
freedom, and selfconfidence
          
are also reported as significant values denoting
          
entrepreneurship in the West (Rokeach 1974, Kotey and Meredith 1997,#p#分頁標題#e#
          
Gilder 1984). Giacomino and Eaton (2003) demonstrate that organizational
          
success, development, growth and change are based on entrepreneurial
          
values such as power, courage, logic, selfconfidence,
          
and imagination. In
          
addition, Saha (1998) contends that pursuing a smart life can stimulate new
          
technology and new products. Saha (1998) and Hofstede (1980) note that
          
individualism and power are values that correlate highly with taking risks
          
and seeking innovation in Western societies. Conservative values on the
          
other hand cover equality, pleasure, affection, security, friendship,
          
helpfulness, and forgiveness. These value items make up the modified
          
version of Rokeach’s PVS used in this study.
          
Among Chinese values, patriotism, industriousness, harmony, filial piety,
          
loyalty to supervisors, solidarity, and adaptation are associated with the
          
familism value dimension (Lee 1996, Zapalska and Edwards 2001, Lee 1996,
          
Sheh 2001, Redding 1982). At the work place, ordering relationship,
          
protecting your face, keeping disinterested and pure and obedience are
          
highly valued (Redding 1982, Sheh 2001, Hofstede and Bond 1988) and
          
relate to the hierarchy value dimension. In addition, values such as
          
tolerance of others, trust, reciprocity, and moderation are found to reflect
          
humanism and conflict avoidance in a transitional Chinese SMEs (Lee 1996,
          
Wu and Leung 2005).
          
Given the length of the value instrument, the minimal differences in validity
          
and reliability between ranking and rating methods, and the relative
          
simplicity of rating versus ranking (McCarty and Shrum 2000, Peng et al
          
1997), respondents are asked to rate their personal values instead of rank
          
them. A fivepoint
          
Likert scale is employed ranging from 1 (not at all
          
important) to 5 (extremely important).
          
Functional Strategy. While in large firms strategies are usually explicitly
          
stated and documented (Johnson and Scholes 2002, Lynch 2000), in SMEs
          
strategies are often informal and implied from management activities and
          
decisions (Gibcus and Kemp 2003, Pearce and Robinson 1985). Management
          
activities can be grouped into seven functional areas which together
          
comprise business strategy. In this study, strategy is examined in terms of
          
the activities in each functional area that are considered proactive. Planning
          
is an essential functional area or dimension of business strategy. Planning
          
involves consciously formulating business goals and developing the means
          
for implementing the goals. Entrepreneurial SMEs are noted to undertake
          
more formal planning than conservative SMEs (Patrick and O’Connor 2005).
          
In the marketing area, proactive businesses strive to achieve large market
          
shares, to influence market trends and even create demand (Lumpkin and
          
Dess 1996). They define their target markets, gather information about#p#分頁標題#e#
          
customers, and find ways of improving existing products and/or developing
          
new ones to meet customer needs. Proactive marketing activities also cover
          
product promotion and identification with brand names (Kotey and Harker
          
1998). Firms pursuing a proactive strategy pay attention to building
          
competitive competence through better customer services, such as
          
assistance with purchasing decisions, home delivery, warranties, and
          
customer credit. They also establish an effective and efficient distribution
          
network through cooperating with wholesalers, retailers and salespersons
          
(Kotey and Harker 1998).
          
In the finance area proactive firms maintain stable external funding sources
          
and balanced equity and debt levels (Kotey and Harker 1998). They
          
emphasize cost efficiency, monitor cash flow, minimize their inventory
          
levels, and ensure the firm is in a good liquid position. Proactive activities in
          
the human resource (HR) area cover striving to achieve maximum
          
productivity whilst maintaining a friendly and homelike
          
work environment.
          
Proactive HR activities also include enabling creativity among employees,
          
appraising employee performance, attending to employee welfare, and
          
encouraging employee participation in decisionmaking.
          
Proactive activities in the production area concern efficiency, high quality
          
products, customization to meet different consumer needs, and timely
          
delivery to customers (Kotey and Harker 1998). To achieve this, firms need
          
to build product flexibility in the range of products carried. However,
          
flexibility without attention to cost will leave firms vulnerable to competitors
          
offering lower prices (Kotey and Harker 1998). A proactive production
          
strategy requires attention to storage, transport cost, wastage, and quality
          
control measures to meet national or international product standards (Kotey
          
and Harker 1998).
          
Proactive businesses pay attention to information and technology strategy
          
(Pollard and Hayne 1998). Accordingly, they find activities such as collecting
          
and analyzing information on market and customer preference changes,
          
investing in new product lines, funding research and development (R&D) and
          
new technology, and improving management and office automated systems,
          
essential for attaining their goals (Pollard and Hayne 1998). However, most
          
SMEs are unable to afford investment in new technology and the services of
          
skilled technical experts. They are therefore unlikely to be the first to adopt
          
new technologies. Nevertheless, SMEs keen to keep up with trends in new
          
technology are proactive(Lumpkin and Dess 1996).
          
Networking strategy depends on whether collaborative relationships or
          
independent operations are essential for sustainable business growth (de Wit
          
and Meyer 1998). Developing a strategy together with other businesses can#p#分頁標題#e#
          
impact all functions of the business such as basic research, production
          
capacity and access to distribution channels (Hamel et al 1998). Benefits of
          
networking include sharing information relevant to successful operations,
          
shorter learning times, and longterm
          
sustainability. Firms cooperate to
          
compete (Dollinger and Golden 1992). It is therefore necessary that they
          
select carefully the skills and technologies to leave out of such cooperative
          
activities so that they can balance competitive and cooperative postures in
          
their relationships.
          
It is argued that strategies in small business usually exist in the CEO’s mind
          
so that a broad definition of strategy that encompasses activities at the
          
functional level is essential for SME research (Johnson and Scholes 2002,
          
Kalantaridis 2004). It is also more appropriate to examine realized rather
          
than intended strategies when dealing with the SME sector, that is, the
          
content of strategy at the functional levels (Hussin et al 2002). Although
          
strategies in small firms are usually not separated into functional areas,
          
decisions made and actions taken can be grouped for analytical purposes
          
into seven areas collated from the literature. Such analytical separation,
          
however, does not overlook the importance of integrating strategies across
          
functional areas (Kotey and Meredith 1997). Thus, the strategy construct for
          
this research is developed with consideration to its multidimensionality
          
(Finney, Campbell, and Powell 2005? Venkatraman and Grant 1986). The
          
strategy instrument, modified from Kotey and Harker (1998), covers seven
          
functional areas: planning, marketing, finance, HR management, operation,
          
information technology and networking.
          
Questions relating to the various functional activities are selected from the
          
literature and reworded to meet the understanding of the participants.
          
Respondents are asked to rate the extent to which each functional activity is
          
undertaken in their businesses on a fivepoint
          
Likert scale, ranging from 5
          
(always) to 1 (never). The extent of proactiveness
          
in strategic orientation is
          
ascertained by the respondent’s ratings on the various strategy items in
          
each functional area.
          
Analytical Techniques
          
A structural equation modeling (SEM) technique, partial least squares (PLS)
          
is used as a typical modeling technique of causality that integrates the
          
assumption, constructs, and hypotheses in an explicit theory (Hulland 1999).
          
PLS presents a few advantages in testing structural equations (Chin 1998).
          
First, PLS can be used to confirm theoretical models, to suggest where
          
relationships might or might not exist, and to propose hypotheses for latter
          
testing. It enables researchers to construct unobservable latent variables,
          
model errors in measurement, and statistically test a priori theoretical and#p#分頁標題#e#
          
measurement assumptions against empirical data. Second, in the social
          
sciences where data collected from surveys are usually not normally
          
distributed, nor concepts measured without errors, the PLS can be used to
          
relax error and distribution assumptions (Boohene 2006). Third, PLS
          
supports small sample sizes. Chin (1998b) recommended a minimum sample
          
size of ten times the largest number of structural paths directed at a
          
particular construct in the structural model. Hence, the PLS approach has
          
been adopted in a wide range of research areas in business (for example,
          
Hulland and Kleinmunttz 1994, Smith and Barclay 1997), strategic
          
management (for example, Hulland 1999, Boohene 2006), SME performance
          
(for example, Raymond 2002), customer satisfaction (for example, Hsu et al
          
2006), and global strategy (for example, Johansson and Yip 1994). The PLS
          
Graph (Version 3.0) is used to test the structural equations in this study.
          
The PLS approach contains two interrelated
          
models – the measurement
          
model (outer model) and the structural model (inner model). It is usually
          
analyzed in two sequential stages: the assessment of the validity and
          
reliability of the measurement model and the assessment of the structural
          
model. The measurement model is assessed according to individual item
          
reliabilities (factor loadings) and composite reliabilities (internal
          
consistency), and the convergent validity (or average variance extracted,
          
AVE) and discriminant validity associated with individual constructs (Chin
          
1998). In this study, the cutoff
          
values for indicators for the various
          
constructs are: 0.5 for factor loadings, 0.7 for a satisfactory composite
          
reliability (Nunnally 1978)? 0.38 for AVE (Hulland 1999)? and 0.5 for
          
discriminant validity (Gefen and Straub 2005). Constructs and indicators
          
that do not satisfy the cutoff
          
values are eliminated from the model.
          
Predictiveness of the structural model is assessed by Rsquares
          
and resampling
          
procedures such as jackknifing and bootstrapping are use to
          
examine stability of the measures (Chin, Marcolin, and Newsted 2003, Chin
          
1998). As a rule of thumb, the value of the average variance accounted for
          
(AVA), which is simply the mean R2s of the model, is recommended as
          
greater than 10 percent (Falk and Miller 1992). In addition, bootstrapping is
          
used to estimate not only path coefficients but also standard errors and
          
calculated t statistics determine the level of significance for each coefficient.
          
Results and Discussions
          
Results of Hypotheses Testing
          
The measurement models for the various constructs and their assessment
          
are presented in Appendix 1. The results are summarized in Tables 1 and 2.
          
It is predicted that Chinese CEOs with entrepreneurial values would adopt
          
proactive strategies, whilst Chinese CEOs with conservative values would be#p#分頁標題#e#
          
less proactive in strategic orientation (H1 and H2). As shown in Table 1, the
          
entrepreneurial value construct has strong associations with all functional
          
areas (p<0.05, p<0.01). Hypothesis 1 is fully supported. Conservative
          
values, however, have weak associations with the strategy dimension. Only
          
two functional areas, HR management and network strategy are significantly
          
associated with conservative values (β=0.13*, β=0.15*). Compared with the
          
results for entrepreneurial values, it appears that CEOs with conservative
          
values are less proactive in strategic orientation. Hypothesis 2 is also
          
supported.
          
Table 1
          
Personal Values and Functional Strategies: Path Coefficients
          
Functions Entrepreneurial
          
Values
          
Conservative
          
Values
          
Familism Humanism Hierarchy
          
Planning 0.42**** 0.09
          
0.01 0.17** 0.02
          
Marketing 0.19*** 0.05
          
0.01 0.19** 0.22****
          
Finance 0.34**** 0.02 0.06
          
0.27**** 0.04
          
HR management 0.24**** 0.13* 0.05 0.01 0.22****
          
Operation 0.33**** 0.01
          
0.10
          
0.21**** 0.17***
          
IT 0.14** 0.10 0.01
          
0.06
          
0.23****
          
Network
          
Strategy
          
0.27**** 0.15* 0.09
          
0.00 0.28****
          
* p<0.10, ** p<0.05, *** p<0.01, **** p<0.001, one tailed
          
The relationships between the three Chinese value dimensions and strategy
          
are more complex. Two Chinese value dimensions, humanism and hierarchy,
          
are predicted to be positively associated with proactive strategy (H4c and
          
H5c), whilst familism is expected to be linked with a lower orientation to
          
proactive strategy (H3c). From Table 1, familism is not associated with any
          
of the strategy dimensions, indicating that Chinese CEOs who value highly
          
familism are less likely to be proactive in strategic orientation, providing
          
support for H3c. H4c and H5c are also partially supported. The strategy
          
dimensions of planning, marketing, finance and operation are positively
          
linked with the humanism value dimension and five strategy dimensions
          
(marketing, HR, operation, IT, and network strategy) are positively
          
associated with the hierarchy value.
          
The associations between the Chinese value dimensions of familism,
          
humanism, hierarchy and the Western entrepreneurial and conservative
          
value dimensions are also examined. The results of PLS analyses are in
          
Table 2. Consistent with expectations, the Chinese humanism value has
          
elements of entrepreneurship and conservatism providing support for H4a
          
and H4b. Although familism correlates positively with conservatism (H3a),
          
contrary to H3b it also has a positive association with entrepreneurial values.
          
Two possibilities are predicted for the hierarchy value: one reflecting
          
entrepreneurship (H5a) and the other having a negative association (H5b).
          
The results reveal a negative association with entrepreneurship supporting#p#分頁標題#e#
          
H5b but refuting H5a.
          
Table 2
          
Chinese Personal Values and Western Entrepreneurial Values:
          
Path Coefficients
          
Entrepreneurial Conservative
          
Familism 0.52**** 0.42****
          
Hierarchy 0.12**
          
0.07
          
Humanism 0.26**** 0.30****
          
** p<0.05, *** p<0.01, **** p<0.001, one tailed
          
Discussions
          
The findings reveal wider application of the contention that entrepreneurial
          
values are more positively linked with proactive strategies than conservative
          
values. A number of additions are made to the literature. First, the Chinese
          
values of hierarchy and humanism also encourage proactiveness
          
in
          
strategy. Second, similar to the Western value of conservatism, familism
          
represents a less proactive stance in relation to strategy. Third, the Chinese
          
values of familism and humanism incorporate both Western entrepreneurial
          
and conservative values. Finally, the Chinese hierarchy value has a negative
          
association with entrepreneurship.
          
The findings indicate that whilst the socialization context for Chinese on the
          
mainland runs counter to what Rotter (1966) proposed for the upbringing of
          
entrepreneurs, some Chinese CEOs on the mainland have been able to
          
develop entrepreneurial values in addition to their collectivist values,
          
enabling them to respond proactively to decisions concerning their
          
businesses. However, Chinese CEOs on the mainland with low ratings on
          
entrepreneurial values are unable to exercise the same levels of initiatives as
          
their entrepreneurial counterparts. Despite this position, it must be noted
          
that the entrepreneurialconservative
          
continuum does not apply as simply to
          
the mainland Chinese CEOs as depicted in the Western literature. The
          
Chinese CEO possesses a dual value system encompassing elements of both
          
Western entrepreneurship and conservatism, particularly those who value
          
highly familism and humanism. While the bonedeep
          
Chinese values of
          
familism and humanism indicate conservatism, they also encourage
          
entrepreneurial values in Chinese CEOs.
          
Emphasis on the humanism values, however, has more benefit to effective
          
business operation than the position of a patriarch associated with the
          
familism value. This is not surprising as the Western literature indicates that
          
a cordial, relaxed and friendly workplace where employees are involved in
          
decisionmaking
          
is more productive (Sirmon and Hitt 2003) than one in
          
which the CEO assumes the position of a patriarch with all decisionmaking
          
authority, requiring employees to be content with being looked after (Harris,
          
Reid and McAdams 2004). Ket de Vries (1993) explained how the latter
          
position can lead to abuse of power and inertia with negative consequences
          
for the business. It is worth noting that the humanism value is not
          
associated with any of the strategy dimensions involving human relations#p#分頁標題#e#
          
such as networking and human resource management. It may be that
          
significant efforts are not required for effective performance in these areas
          
but that employees and other stakeholders are happy to work with an
          
approachable, friendly and helpful CEO. In this case both the conservative
          
and entrepreneurial aspects of humanism are used to the business
          
advantage.
          
Another interesting finding is the negative association between hierarchyand entrepreneurial values, but positive correlations between the hierarchyvalue and the majority of proactive strategy dimensions includingnetworking and human resource management. It is noted above that the
          
CEO can use the power vested in him/her, at the apex of the hierarchy, inways that will have either positive or negative outcomes for the business. It
          
appears from the results that Chinese CEOs who value their position at theapex use the power vested in them proactively to benefit the business.
          
Nevertheless, the value of hierarchy runs counter to the Westernentrepreneurship value which embodies a need for power, competition andaggression all of which are necessary to access resources in the West. Incontrast, a cooperative attitude is more effective for accessing and using
          
resources in China.
          
留學生MBAdissertation定制The findings concur with existing literature that humanism (or collectivehumancenteredness),
          
with a high sense of cohesion within the hierarchy, iscommon to Chinese CEOs (Redding 1982, Sheh 2001). They also support thecontention that Chinese CEOs define themselves by their associations. Forexample, attention is given to business networks as strong connections withstakeholders are necessary for priority access to relevant resources andinformation. The Chinese CEO is able to compete effectively whilstmaintaining a peaceful coexistencewith competitors (heqi shengcai inChinese). This is possible as the Chinese is socialized to consider the
          
interests of others in all situations for a ‘winwin’
          
outcome (Yu 2001). While
          
the Chinese values of protecting face, remaining disinterested and pure, and
          
obedience run counter to some of the Western entrepreneurial values they
          
are nevertheless important for business success within the context in which
          
they are developed.
          
The findings contradict those based on overseas Chinese businesses, in
          
which familism is highlighted as having a positive effect on business
          
operations and performance. This study, in contrast, demonstrates that
          
familism runs counter to proactive strategic orientation. That is, the more
          
family oriented the CEO, the less proactive their strategic position. The
          
differences in findings can be explained by the different contexts (the
          
overseas market economies and the transitional economy in mainland China)
          
in which the two types of businesses operate and the different ownership#p#分頁標題#e#
          
structures. Overseas Chinese businesses are purely family businesses and
          
governed by paternalism (Yu 2001), whilst a majority of SMEs in mainland
          
China have external owners (Chen, Li and Matlay 2006).
          
The findings also support Kirby and Fan’s (1995) assertion that not all
          
Chinese values are relevant to entrepreneurship. Comparing Chinese values
          
from the Chinese Value Survey with the entrepreneurial values of the West,
          
Kirby and Fan (1995) report that “some [Chinese] values coincide
          
completely or in part with the entrepreneurial attributes, some are totally
          
conflicting, and some are obviously missing” (p. 250). They argue that
          
Chinese values are more about peopleorientation
          
(such as guanxi) and
          
personal cultivation. They identify the associations between seven Chinese
          
values and entrepreneurship and note that some important entrepreneurial
          
values such as creativity and innovation are missing from the CVS.
          
Unfortunately, they fail to provide empirical evidence to support these
          
assertions. The empirical analyses in the current study indicate that both
          
Chinese and Western values are relevant to proactive business strategy.
          
Conclusion
          
The study shows that the Chinese CEOs on the mainland cannot be
          
described as either entrepreneurial or conservative but embody values
          
associated with both value systems. Chinese values, developed on the
          
mainland, are necessary for successful business operation within that same
          
context. Successful business operation requires an intricate mix of
          
cooperation and competition for access to relevant resources and
          
information. Concern for the interest of others is critical whilst exercising the
          
initiatives associated with a proactive strategic posture. The move towards
          
market economy, globalization, and increased contact with the West may
          
induce a gradual shift in Chinese values as they become more Westernized.
          
This is likely to be the case as legal structures are developed and replace
          
personal relationships as the basis of business relationships.
          
The limitations of the study include the small sample size and restriction to
          
one industry sector in one town, so that the findings cannot be generalized.
          
Future research can assess the application of the findings to other industry
          
sectors and towns in China. Moreover, the association between other
          
Chinese values not covered in this study and Western value systems would
          
provide valuable additions to the literature. The model tested in the study
          
can be extended to include the influence of the environment which together
          
with personality characteristics of the ownermanager
          
are proposed to
          
determine strategy. Finally, the effect of the variables, strategy and personal
          
values, on SME performance can be investigated.
          
Appendix 1 Results of the Measurement Model#p#分頁標題#e#
          
Table 3
          
Results of the Value Construct Measurements
          
Constructs and Measures Mean Std
          
Dev
          
Factor
          
Loadings
          
Familism (Composite Reliability = 0.85, AVE
          
= 0.45)
          
Filial piety
          
Harmony with others
          
Solidarity with others
          
Adaptability
          
Industrious
          
Patriotism
          
Loyalty to superiors
          
3.56
          
3.48
          
3.78
          
3.66
          
3.71
          
3.61
          
3.60
          
1.04
          
1.02
          
1.89
          
1.11
          
1.04
          
1.05
          
0.93
          
0.65
          
0.70
          
0.72
          
0.65
          
0.65
          
0.72
          
0.62
          
Hierarchy (Composite Reliability = 0.80,
          
AVE = 0.44)
          
Keeping oneself disinterested and pure
          
Wealth
          
Protecting your face
          
Obedience
          
2.17
          
2.85
          
2.87
          
3.38
          
1.29
          
0.89
          
1.15
          
1.53
          
0.69
          
0.61
          
0.68
          
0.64
          
Humanism (Composite Reliability = 0.83,
          
AVE = 0.45)
          
Tolerance of others
          
Reciprocation of greetings, favors, and gifts
          
Patience
          
Persistence and perseverance
          
Thrift
          
Having a sense of shame
          
3.51
          
3.44
          
3.54
          
3.62
          
3.53
          
3.72
          
0.91
          
1.09
          
0.94
          
1.15
          
1.05
          
1.06
          
0.63
          
0.50
          
0.74
          
0.69
          
0.67
          
0.78
          
Entrepreneurial (Composite Reliability =
          
0.84, AVE = 0.42)
          
Risk taking
          
Personal development
          
Innovation
          
Broadmindedness
          
Trust
          
Imagination
          
Self confidence
          
3.32
          
3.46
          
3.71
          
3.64
          
4.01
          
3.55
          
3.58
          
1.62
          
0.90
          
1.14
          
1.46
          
2.47
          
1.04
          
0.90
          
0.69
          
0.70
          
0.71
          
0.57
          
0.68
          
0.62
          
0.56
          
Conservative (Composite Reliability = 0.83,
          
AVE = 0.45)
          
Equality
          
Self respect
          
True friendship
          
Capability
          
Forgiveness
          
Helpfulness
          
3.32
          
3.50
          
3.50
          
3.71
          
3.68
          
3.47
          
1.12
          
0.95
          
1.24
          
2.47
          
2.50
          
0.95
          
0.65
          
0.67
          
0.68
          
0.61
          
0.72
          
0.68
          
Table 4
          
Results of Functional Construct Measurements
          
Constructs and Measures Mean Std
          
Dev
          
Factor
          
Loadings
          
Planning (Composite Reliability = 0.82, AVE
          
= 0.48)
          
Set goals for my business
          
Make decisions and plans on how to achieve
          
goals
          
Review and make changes to initial plans
          
Analyze financial reports regularly
          
Compare actual financial performance with goals
          
3.39
          
3.56
          
3.46
          
3.73
          
3.70
          
1.56
          
0.95
          
0.92
          
1.04
          
1.54
          
0.76
          
0.77
          
0.61
          
0.65
          
0.67
          
Marketing (Composite Reliability = 0.78,
          
AVE = 0.40)
          
Set price based on the average price of
          
competitors
          
Set price based on total production costs#p#分頁標題#e#
          
Developed a sale distribution network
          
3.49
          
3.41
          
3.47
          
3.25
          
0.92
          
0.90
          
1.03
          
1.53
          
0.54
          
0.56
          
0.62
          
0.68
          
Sell through retailers or other third parties
          
Use the internet to sell my product
          
Advertise my products locally
          
3.11
          
3.19
          
1.15
          
1.28
          
0.62
          
0.62
          
Finance (Composite Reliability = 0.81, AVE
          
= 0.42)
          
Ensure that credit customers pay on time
          
Pay suppliers on time
          
Keep good credit standing with the banks
          
Keep low inventory by producing to client orders
          
Have a stable channel for raising capital
          
Reinvest profit into the business annually
          
3.53
          
3.61
          
3.80
          
3.52
          
3.51
          
3.31
          
0.96
          
0.97
          
1.01
          
0.89
          
1.00
          
1.01
          
0.60
          
0.72
          
0.71
          
0.66
          
0.53
          
0.66
          
HR management (Composite Reliability =
          
0.83, AVE = 0.49)
          
Explain firm goals and policies to new staff
          
Pay employees above the average rate
          
Pay bonus to employees based on performance
          
Maintain a family alike environment in work place
          
Sponsor and join the entertaining activities of
          
staff
          
Loyalty and obedience are two critical for
          
promotion
          
Value opinions of staffs on improving
          
performance
          
Emphasize safe and healthy working conditions
          
3.42
          
2.39
          
3.57
          
2.90
          
3.37
          
3.45
          
3.55
          
3.52
          
1.00
          
0.89
          
1.10
          
0.88
          
1.02
          
0.92
          
0.95
          
1.02
          
0.66
          
0.58
          
0.61
          
0.56
          
0.66
          
0.63
          
0.64
          
0.62
          
Operation (Composite Reliability = 0.81,
          
AVE = 0.47)
          
Routinely gather feedback from clients
          
Emphasize quality more than price and services
          
Achieve cost advantages with simple
          
management
          
Provide feedback to suppliers
          
Draw a set of written rules for quality control
          
3.56
          
3.61
          
3.10
          
2.89
          
3.64
          
1.00
          
1.00
          
0.84
          
0.89
          
0.92
          
0.62
          
0.74
          
0.67
          
0.71
          
0.68
          
IT (Composite Reliability = 0.81, AVE =
          
0.47)
          
Production process is highly automated
          
Adopt computer systems for improving
          
production
          
Use internet to search information for my
          
business
          
2.78
          
3.30
          
3.52
          
0.78
          
1.04
          
0.82
          
0.63
          
0.76
          
0.71
          
留學生MBAdissertation定制Network construction (Composite Reliability
          
= 0.82, AVE = 0.40)
          
Cooperate with large firms to improve
          
management
          
Keep relationships with large firms for
          
information
          
Cooperating with large firms in new products
          
R&D
          
Coop with universities and technological
          
institutes
          
Build good relationships with the government#p#分頁標題#e#
          
Build cooperative networks with local
          
counterparts
          
Seek ‘building effective cooperative relationships
          
with peers’ as a ‘winwin’
          
strategy
          
3.48
          
3.45
          
2.82
          
2.82
          
2.95
          
3.29
          
3.34
          
1.11
          
1.01
          
2.02
          
1.20
          
0.87
          
1.12
          
1.02
          
0.57
          
0.61
          
0.72
          
0.68
          
0.73
          
0.61
          
0.51
          
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Authors Biography
          
Mr. Ke Gao is Assistant President at Wuxi South Ocean College in China and
          
studies in the University of New England in Australia as a PhD candidate. His
          
research interests cover Chinese entrepreneurship, Chinese SME strategy,
          
cultural impact on running Sinoforeign
          
schools in Chinese higher
          
institutions, and Chinese high educational reform. His contact information:
          
留學生MBAdissertation定制phone at work: +86 510 8555 3207, cell phone: +86 159 6177 5643, email:
          
Dr. Bernice Kotey is Associate Professor in the School of Business,
          
Economics and Public Policy at the University of New England, in Australia.
          
Her research interests cover management and performance issues in SMEs
          
and family businesses. Her contact information: phone at work:
          
 
          
                
                        
          
                
          
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