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Study on Development of Chang Yu Pioneer Wine Co. form the View of Informal System(1892-1937)

Author: JiangZuoZuo
Tutor: DanDong
School: Zhejiang University of Finance
Course: Economic History
Keywords: Wine ZhangBishi Informal System Chang Yu Wine-making Company
CLC: F426.82
Type: Master's thesis
Year: 2012
Downloads: 69
Quote: 0
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Abstract

Before 1892, China has no industrialized wine brewing enterprise set up by Chinese themselves. Although the western countries had not paid attention to or started the wine industry until late 19th century, they, the European countries in particular , produced the world wide known wine. Among which the France’s Wine is most famous. ZhangBishi, one illustrious overseas Chinese in Southeast Asia, realized the bright prospect of Chinese wine industry and sized the opportunity to establish the Chang Yu Pioneer Wine Co. Although he was confronted with many problems at early stage, including the lack of funds and raw materials, the employment of wine maker, he managed to set up the first Chinese industrialized wine brewing enterprise and a famous national brand lasting for a century. This enterprise has successfully implemented transformation and upgrade now, and is developing day by day.As an important part of new system economics informal system is attracting more and more attention from the scholars. Combined with historical materials, this article illustrates the influences that informal system has on Chang Yu Pioneer Wine Co. through analysis of the reasons for its early success and later decline.First of all, the article introduces the background of its foundation from the aspects of Chinese history of wine production and the social conditions.Second, this assay expounds, from three aspects, namely pioneering corporate spirit, official-business relationship, and the value of benevolence and harmony, the positive effect that the informal system has on the Chang Yu Pioneer Wine Co. in the early stage. ZhangBishi, as a representative of Hakka merchant, possess the pioneering spirit ,which is the most important in Hakka merchant culture, conducted by this kind of informal system, the enterprise introduce advanced technology, equipments and talents, ZhangBishi, as the founder, is full aware of the political and social environment of modern china. Therefore he devoted great attention to build good relation with the Qing Government as well as Northern Warlords Government, through which ,he got benefits of patent right and tax exemption treatment; ZhangBishi’s value of benevolence and harmony helped to create a good reputation and business environment for his company, and train great number of talents. These played a very important role in the foundation period.Third, the assay includes the study of factors of informal system which led to the decline of Chang Yu Pioneer Wine Co. Informal system, as a double-edged sword,can not only prompt but also hinder the development of an enterprise. In order to prove the above conclusion, this article illustrates it through two parts. One is that traditional clan system gave birth to family-style management mode. Chang Yu Pioneer Wine Co. is characterized by combination of the funder and the manager, short property chain, thus, there was weak or even no Principal-Agent Relation in the corporation. With the increase of production scale and management scope, the disadvantage of the family-style management will appear which would harm its later development for the manager was overburdened and his decision would be influenced. The second one is that, the folkways and customs, which is one important part of informal system, made the modern Chinese unaccustomed to drinking wine. The failure of Chang Yu Pioneer Wine Co. is to a great extent attributable to the fact that the Chinese way of life is difficult converted into that of western people.At last, through the study of Chang Yu Pioneer Wine Co. which is the representative of Chinese modern national industry, the assay tries to draw some conclusions which may serve as reference for the development of private enterprises, especially those who lay much stress on Informal system.

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