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Entrepreneurship and risk: The becoming of the Koo business dynasty

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Chapter Summary

This chapter examines several critical advances that have transformed the family business and have allowed family members to exhibit their entrepreneurial talents. In Taiwan, the rise of the Koo family has been controversial and, is often ascribed to their powerful political network. By closely examining the expansion of the Koo family, a pattern of innovation gradually comes to light - each generation of the Koo family has taken the lead or changed customary practice. The chapter first discusses the sources of entrepreneurship, and explores the dynamic relationships among the government, entrepreneurs, and society in relation to entrepreneurial activities. It then examines the relationships between the government's role in securing property rights and the rise of the Koos. Next, the chapter focuses on issues related to innovation and risk. Finally, it discusses the question of how each generation of the Koos has enhanced the legitimacy of their innovations to eliminate risk factors.

Keywords: entrepreneurship; family business; Koo family; political risk; property rights; Taiwan



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