Abstract

Elizabeth Mok was the second born and the only daughter in the fourth generation of the Lee family. She was also the only one of five siblings who did not own shares in the family business, the world-renowned sauce maker Lee Kum Kee, headquartered in Hong Kong. For Elizabeth, it seemed natural not to own shares, as she had high respect for the traditional approach to succession planning, where females did not inherit a family business. Besides, she believed her brothers worked hard to build the firm’s international reputation and therefore deserved the shares more than she did.
Elizabeth was once again asked by her family to reconsider her decision not to own shares. This time, she could sense their determination to change the state of things.

Learning Objectives

After analyzing the case, students should be able to:

1. Distinguish between traditional and strategic approaches to philanthropy as a strategy for managing family succession and legacy; and
2. Understand how family philanthropy can act as a glue to keep a family together; and
3. Recognize a systematic approach to designing and managing modern philanthropic organizations.