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Macao is well known for its gaming industry. However, there are also many traditional small-to-medium enterprises which are family-owned and run. There is no doubt that social capital is one of the key competitive advantages that family businesses possess, particularly when it comes to Chinese businesses with strong family values that emphasize the importance of trustworthiness and guanxi (relationships). As opposed to other forms of capital, social capital cannot be passed from one generation to another through the will of the incumbents. So, how is social capital passed on in family businesses from one generation to the next? Based on an in-depth study of five cases of successful family businesses in Macao, this research identified the forms of social capital present in business families and the succession process of these firms. From the generalizations drawn from the five cases, a theoretical framework is proposed to understand the intergenerational transmission of social capital in Chinese family businesses
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The adoption of project management techniques is a crucial decision for corporate governance in construction companies since the management of areas such as risk, cost, and communications is essential for the success or failure of an endeavor. Nevertheless, different frameworks based on traditional or agile methodologies are available with several approaches, which may create several ways to manage projects. The primary purpose of this work is to investigate the adequate project management methodology for the construction industry from a general perspective and consider a case study from Macau. The methodology considered semi-structured interviews and a survey comparing international and local project managers from the construction industry. The interviews indicate that most construction project managers still follow empirical methods with no specific methodology but consider the adoption of traditional waterfall approaches. In contrast, according to the survey, most project managers and construction managers agree that the project's efficacy needs to increase, namely in planning, waste minimization, communication increase, and focus on the Client's feedback. In addition, there seems to be a clear indication that agile methodology could be implemented in several types of projects, including hospitality development projects. A hybrid development approach based on the Waterfall and Agile methodologies as a tool for the project management area may provide a more suitable methodology for project managers to follow.
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It is argued that the role of the Chinese government to support the cross-border operations of Chinese firms is to assist these firms in overcoming their limited established brands, and their disadvantages in technology and managerial resources, which were also the reasons why such firms decided to enter emerging markets instead of developed markets. This strategic choice is preferred to avoid direct confrontation with established firms from developed countries endowed with superior ownership advantages. Therefore, Chinese resources seeking firms innovate by increasing investment in developing and emerging markets to develop unique ownership advantages for sustainable market development and competitive advantage. This research investigates the ownership advantages of resources seeking Chinese firms in these markets using the OLI theory. The paper contributes to explaining the specific advantages of Chinese MNEs when entering emerging markets. The study applied a two-stage qualitative methodology to examine Chinese firms operating in Nigeria. The first stage included an exploratory study based on interviews with key informants and experts while the second stage included a case study methodology. The study focused on resources seeking Chinese MNEs operating in Nigeria.