Academic literature on the topic 'Familly owned business'
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Journal articles on the topic "Familly owned business"
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Tobak, Júlia. "Ownership Structures within Hungarian Family Businesses – Theories and Practice." Applied Studies in Agribusiness and Commerce 12, no. 1-2 (May 2, 2018): 35–40. http://dx.doi.org/10.19041/apstract/2018/1-2/5.
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We can talk about family business if the notions of family, ownership and business are closely connected to each other, namely if the business is in the possession of the family, managed and controlled by the family members. A family owned company is a business where a family has the majority ownership and/or the majority management and at least one family member actively works in the firm, the family owns the business. The study contains the results of research on ownership structure of family owned businesses. The examined family businesses are interested in longterm preservation of values, thus succession of generations plays a key role in their case. They attaches great importance how the ownership structure develops. The methotology to know more about the ownership structure of family businesses 11 expert interviews were made between november 2016 and september 2017 with owners and next generations of family owned agri-food enterprises in Hungary. A case study has been prepared too in this topic with the participation of companies with different activities (production, service, trade). In order to classify the analysed companies six categories of ownership were developed. These are non-owner, emotional owner, partial owner, controlling owner, majority owner and exclusive/ sole owner. Each generation of the analysed FBs were classified to these categories. According to the results the analysed family owned companies even are sharing the property within family. There are only two interviewed companies whose case we can talk about exclusive/sole ownership.
JEL Classification: G32
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Mahomed, Yaaser, and Vuyokazi Mtembu. "Business Succession in Indian Family Businesses in South Africa." Journal of Economics and Behavioral Studies 13, no. 3(J) (July 9, 2021): 73–80. http://dx.doi.org/10.22610/jebs.v13i3(j).3182.
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Family businesses play a pivotal role economically and socially in most countries. The study aimed to identify and understand the experiences of Indian family businesses in South Africa with regard to business succession. A quantitative research approach was used with data collected through Google forms online survey. Data was collected from sixty (60) business people from Indian-owned family businesses in South Africa. The study interrogated the following factors which have an influence on family business succession: business ownership influence in succession, business readiness for the exit of owner and succession, the role of the owner after exit from business and selection criteria of the right successor. Findings revealed that the majority of families (86.27%) said it is important to have a hundred percent or full ownership of the business and that a successor should be selected within the family from their bloodline. Findings also revealed that the majority of businesses (86.27%) were not fully ready for the exit of the owner or current leader of the business and that on the exit of the owner; a majority (90.2%) of businesses will prefer to have the owner playing an active advisory role in the business. It is recommended that family-owned businesses should plan for succession on time and draft a well-planned strategic succession plan for the business. It is also recommended that an objective criterion be used in selecting a successor who will take the business forward. Healthy business continuity should be the ultimate goal of succession and families should not sacrifice successful business continuity because of their, internal differences and conflict, culture, blood relations, gender or religion.
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Rowe, Barbara R., George W. Haynes, and Marion T. Bentley. "Economic Outcomes in Family-Owned Home-Based Businesses." Family Business Review 6, no. 4 (December 1993): 383–96. http://dx.doi.org/10.1111/j.1741-6248.1993.00383.x.
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This study explored the financial success of 620 family-owned home businesses. Characteristics of the home business owner, of the business, and of the owner's managerial practices both within and outside the business arena were systematically evaluated. Personal and family characteristics of the owner-operator were more powerful variables in explaining the amount of income generated by the business than were dimensions of the business, although both categories played significant roles.
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Akume, Ben, and Osarumwense Iguisi. "Developing capabilities for sustainability in family owned SMEs: An emerging market scenario." International Journal of Research in Business and Social Science (2147- 4478) 9, no. 6 (October 26, 2020): 24–36. http://dx.doi.org/10.20525/ijrbs.v9i6.840.
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The academic discourse on ‘family’ perpetuity in family-owned businesses (FOB) is still burgeoning. Current findings suggest the importance of family control and family inter-generational sustainability in family-owned businesses. Though literature in family perpetuity and sustainability is well documented from the advanced economies, there is a scarcity of insights from emerging markets where this research relates. The study, therefore, sought to investigate, understand and interpret the underlying drivers of sustainability in small and medium family businesses using the stewardship theory paradigm and relying on evidence from an emerging market economy the Nigerian family business environment. A qualitative method with 41 in-depth interviews involving owners and managers of family-owned small and medium businesses was conducted. The study empirically shows that there is an interrelationship between family structure and business sustainability, hence the practice of polygamy was found to be inimical to family business success and sustainability. The study also showed that the element of spirituality arising from the ideals and values of the owning family is a significant factor for ensuring family wellbeing and business sustainability, and founding owner characteristics (industry experience) and impacts positively on the business performance and continuity. The study confirmed that the stewardship of non-family member employees within the business is provisional stewardship as non-family members rely on other incentives from the owning family members to behave as stewards. Building on the stewardship theory, the paper develops a model of sustainability for small and medium family businesses. The study contributes to the theoretical literature on stewardship and family business sustainability
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Heck, Ramona K. Z., and Rosemary Walker. "Family-Owned Home Businesses: Their Employees and Unpaid Helpers." Family Business Review 6, no. 4 (December 1993): 397–415. http://dx.doi.org/10.1111/j.1741-6248.1993.00397.x.
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Family-owned home-based businesses traditionally utilize a workforce of paid workers, contracting workers, and unpaid helpers. Each type of worker may be categorized as family, related, or unrelated. The research reported here shows that not all worker types increase business outputs. Family workers, family helpers, and unrelated workers contribute in positive ways to business outputs. In contrast, unpaid related helpers decrease net income, and contracting related workers increase the work hours of the business owner.
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Distelberg, Brian John, and Thomas V. Schwarz. "Mentoring Across Family-Owned Businesses." Family Business Review 28, no. 3 (November 21, 2013): 193–210. http://dx.doi.org/10.1177/0894486513511327.
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Nearly three decades of research on mentoring has offered empirically supported processes in developing a mentoring relationship. Yet the application of mentoring within family businesses has received little exploration. Since much of the current mentoring literature is focused on general workplace mentoring, it is not clear how the multidimensional and interdependent systems within family businesses might complicate the translation of the existing literature to family business populations. This study examines interorganizational family business mentoring relationships to determine whether there are any issues which differentiate it from the existing mentoring research findings.
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Gupta, Nakul, Radha R. Sharma, and Rupali Pardasani. "FragraAroma – accord in business, concord in family." Emerald Emerging Markets Case Studies 3, no. 7 (November 18, 2013): 1–11. http://dx.doi.org/10.1108/eemcs-06-2013-0085.
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Subject area Entrepreneurship, internationalization, family-owned business management, strategic management. Study level/applicability MBA/postgraduate management program courses on family business management. The case can be taught at the beginning of the course to acquaint students with the dynamics of family-owned businesses. MBA/postgraduate/undergraduate courses on entrepreneurship. It can be used in the middle of the course to highlight the challenges presented by an entrepreneur due to change in the business environment and macroeconomic scenario. MBA/postgraduate course on strategic management. It can be used at the beginning of the course to introduce strategies for managing and sustaining growth of a business. MBA/postgraduate course on organizational development. It can be used in the middle of the course to help students understand the importance of designing an optimal organizational structure for a family business. Case overview FragraAroma was an Indian fragrance company. Anil Gupta, the Founder and Managing Director of FragraAroma, and his sister Nisha were equal shareholders of the company. With changes in the Foreign Direct Investment Policy in 2013 in India, Anil and Nisha's husband Tarun had different expansion plans for FragraAroma. While Anil was planning to expand FragraAroma internationally, but his sister and her husband wanted diversification of the company's customer segment in the domestic market itself. The case is poised at the juncture, where Anil was facing a labyrinth of critical decisions. Would he go ahead with Tarun's expansion plan or stick to his plan of internationalization? Would his decision affect the harmony of the family? Was there a way that could enable him sailing his family and family business out of the doldrums? Expected learning outcomes This case is primarily about a family business and the dilemmas faced by the owner of that family business. The case captures the challenges faced by a family business in sustaining growth and competitiveness. The case can be used to understand how decisions are taken in a family-owned business. To understand the challenges faced by a family-owned business while developing and implementing its growth strategies. To understand the opportunities and challenges presented to a family-owned businesses when macroeconomic scenarios change. To understand the spillover effects of business decisions on family relations in a typical family-owned business setup. Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.
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Sultan, Suhail, André de Waal, and Robert Goedegebuure. "Analyzing organizational performance of family and non-family businesses using the HPO framework." Journal of Family Business Management 7, no. 3 (October 9, 2017): 242–55. http://dx.doi.org/10.1108/jfbm-07-2017-0021.
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Purpose Many businesses in the world are family-owned. A family-owned business differs from other types of businesses in several ways, because it is composed of both a family and a business. A recurring question in management research has been: which type of business performs better, the family-owned or the non-family owned? An alternative question which in this respect can also be asked, in the light of the high-performance organization (HPO) theory which has become popular these past years, is: which type of business is more likely to become and stay high performing, the family-owned or the non-family owned? To try to answer these questions, many studies have been done in which the performance of family firms was compared with firms that have no family ties, but these studies gave mixed results and conflicting opinions. The paper aims to discuss these issues. Design/methodology/approach It seems evident that a new research approach is needed. A way forward is to use the HPO concept which looks at the factors important for an organization to become an HPO. Thus, the research question which this study attempts to answer is: are there differences in performance between family and non-family businesses, and if so, can these be traced back to differences in the way these businesses deal with the factors of high performance? The research used the HPO questionnaire and interviews to collect data at Palestine family and non-family owned businesses. Findings The research shows that Palestine non-family businesses significantly outperform family-owned businesses. Family businesses thus seem “a living paradox.” Balancing family interest and business interest often requires a compromise between family and business goals. It seems that Palestinian family businesses focus more on family interest by putting the goal of survival and “keeping the business in the family” above (short-term) financial goals. Family businesses might also feel more that the company’s money is the family money, and as a result their investment and expenses strategies are more conservative thus missing possible economic investment opportunities. Research limitations/implications The study results add to the current debate in the literature about which type of business performs better, and at the same time they add knowledge because if there are differences these might be explained by the factors of high performance. In this vein, the study results also contribute to the literature on high performance, as the HPO framework has not been used before for this type of comparative research. Originality/value The study results have practical value because they yield knowledge about the ways to organize a business so it can achieve high organizational results which is of great value to managers attempting to make their organizations perform better.
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HAYNES, GEORGE W., JOSEPH I. ONOCHIE, and YOON LEE. "INFLUENCE OF FAMILY'S SOCIAL RELATIONSHIPS ON THE DEBT STRUCTURE OF MEXICAN-AMERICAN AND KOREAN-AMERICAN SMALL BUSINESSES." Journal of Developmental Entrepreneurship 13, no. 03 (September 2008): 343–61. http://dx.doi.org/10.1142/s1084946708001022.
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This study utilizes the Korean-American and Mexican-American samples in the National Minority Business Survey to examine the debt structure of small businesses owned by individuals from these ethnic groups. Small business owners with higher household net worth were more likely to borrow from finance companies, friends, and credit card companies. When controlling for business, business owner and family characteristics, Mexican-American small business owners with high net worth were significantly more likely to borrow from commercial banks than Mexican-American small business owners with low net worth are. Korean-American small business owners with high net worth were significantly more likely to utilize family loans than Korean-American small business owners with low net worth are. Korean-American small businesses appeared to be more financially dependent on the financial strength of their community, while Mexican-American small businesses owners appeared to be more financially independent.
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Ganguly, Aniruddha. "HR Dynamics in Family-managed Businesses in India." NHRD Network Journal 13, no. 1 (January 2020): 48–61. http://dx.doi.org/10.1177/2631454119894742.
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Out of the 100 largest companies listed in India in terms of market cap, more than 50 per cent are family managed. Indian family-managed companies have a distinct organisational culture. Organisational culture shapes and re-shapes people management, influenced by several factors—stage of evolution of the organisation, environmental/economic challenges and owner family culture. The way the owner family conducts itself embodies family governance. Family governance influences corporate governance. Human resource management (HRM) is an essential element of corporate governance. Nature of HRM in family-managed companies is significantly influenced by the way the owner family drives it. Some of the large Indian family-owned companies are consistently high on market cap because they are able to attract and retain the best talent. They can do this consistently because the best talent gets attracted to the best HR practices in an organisation. There is increased awareness of this among Indian owner families and they are now adopting world-class people practices to attract the best talent from the market. Soon we shall have many more Indian family-owned companies indistinguishable from western family-owned companies in terms of people practices.
Dissertations / Theses on the topic "Familly owned business"
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Rygl, Luboš. "Podnikatelský plán na založení rodinné farmy na pěstování a zpracování levandule." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2021. http://www.nusl.cz/ntk/nusl-442914.
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The thesis is focused on creating a complete business plan for establishing a family owned lavender farm in the village of Římov. The theoretical part describes the business process from the very idea of starting an enterprise, the assessment of the business plan using the Lean Canvas tool, chosen analytical and research methods as well as creating a given structure for of the business plan which involves eliminating risks, setting up the product and entering the market. The analytical part of the work provides a SWOT analysis of the business environment. In the final part of the thesis both the preferred market strategy and the business model breakdown are proposed.
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Wallace, Jeffrey S. "Family-Owned Businesses: Determinants of Business Success and Profitability." DigitalCommons@USU, 2010. https://digitalcommons.usu.edu/etd/594.
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The purpose of this study was to examine many factors associated with family-owned businesses that lead to business success and profitability. The panel data used in this study came from the 1997 and 2000 waves of the National Family Business Study (NFBS). Many independent variables from the 1997 wave (e.g., age, gender, managerial activities, business size, home-based, business problems) were tested to predict business success and profitability (dependent variables), which were variables from the 2000 wave. Some of the descriptive analyses indicated that, compared to female managers, male managers perceived less business success, participated more in managerial activities, managed older businesses, experienced more business problems, and experienced fewer business cash-flow problems. Compared to businesses that are not home-based, home-based businesses reported less perceived business success, less business profitability, were smaller businesses, experienced fewer business problems, had fewer business liabilities, and had managers with poorer health and less education. Overall, the ordinary least squares regression analyses yielded results indicating that managerial activities, home-based businesses, business age, business problems, and business cash-flow problems were all statistically significantly associated with perceived business success. Business size was shown to be significantly associated with business profitability. Implications of the findings, limitations of the current study, and recommendations for future research were presented in the final section.
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Klee, Robynne. "The influence of family business resources on transgenerational success: a family business case study." Thesis, Nelson Mandela Metropolitan University, 2014. http://hdl.handle.net/10948/11124.
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Family businesses are major contributors to the economies of most countries and are known to be one of the best performing, most prevalent and resilient forms of business throughout the world. Despite their importance and based on the vast amount of research done in the field of family businesses, this form of business appears to be laden with challenges and is short-lived. Amongst others, one of the most fundamental challenges and contributors to the short-lived nature, and thus high failure rate of family businesses is poor succession planning. In order to address this challenge, the Successful Transgenerational Entrepreneurship Practices (STEP) research framework was developed to ascertain the factors that contribute to entrepreneurial performance and the effective transgenerational potential and success of family businesses globally. Transgenerational potential, entrepreneurial performance, the external mediating factors influencing family businesses, Entrepreneurial Orientation (EO) and the Resource Based View (RBV) of familiness resource pools are the components that make up the STEP research framework. By adopting the STEP research framework, the primary objective of this study is to establish how a transgenerational family business creates new economic activity over time by using and transferring familiness resource pools from one generation to the next. Due to the primary focus of the study being to research familiness resource pools and how they generate transgenerational potential for family businesses, this component of the STEP research framework is investigated in detail. The literature review therefore highlights the eight dimensions of familiness resource pools, namely: leadership, networks, capital, decision-making, culture, relationships, governance and knowledge, and are the main focus of this study. An interpretivism research paradigm is selected for this study. Interpretivism paradigms are associated with qualitative research methodologies. Owing to the fact that much still remains to be discovered in terms of familiness and familiness resource pools, a descriptive, single-case study is the type of research method undertaken. The sample is identified based on non-probability purposive sampling as per the strict guidelines of the STEP project. The sample size in this study consisted of one family business operating in the Eastern Cape, South Africa. The STEP interview schedule, which consists of semi-structured questions, is the research instrument used to collect the necessary data from five participants involved in the family business (a prominent motorcar dealership). Once all the data is collected, a combination of directed content analysis and explanation building are used to analyse the data. The findings of the study reveal that the leadership values present in the family business stem from that of the founder. Contrary to the current CEO’s beliefs that the family business investigated operates primarily under his participative leadership style, the interviews reveal that while the CEO does demonstrate participative leadership, his leadership style is somewhat autocratic in nature. This autocratic leadership style has caused the employees and the business as a whole, to become too reliant on the CEO, especially in terms of strategic decision-making, which may be a threat to the future succession of the business. The CEO’s expert leadership however, ensures that the business adheres to strict guidelines in terms of employing the best person for the job, regardless of whether the candidates are family members or not. As such, the prominent motorcar dealership is marketed as a family business and together under the family leadership, has helped attract customers and well qualified non-family employees to the business. While there is ample leadership available within the business, the lack of succession planning is reiterated to be a major threat facing the future of the business. Almost all of the original networks established by the founder in the prominent motorcar dealership studied still exist in the business in 2014. It is established that employees, especially those in the third generation, are encouraged to build their own networks within their relevant spheres of responsibility. Moreover, the business family’s history, reputation and goodwill have helped create and establish networks for the family business, especially within the Eastern Cape. These networks have helped the business drive sales and have contributed to the success of the business.
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Grobler, Marthinus Petrus Johannes. "Green business and environmental issues: family versus non-family business." Thesis, Nelson Mandela Metropolitan University, 2012. http://hdl.handle.net/10948/d1008058.
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The aim of the study was to understand whether family businesses and non-family business differ from one another regarding green business and environmental issues. Green business issues are of global importance for the continued existence of business within the world. Businesses do not exist in isolation but within the context of the environment within which they function. Business has an impact on the environment and the environment has an impact on business. Furthermore, family businesses constitute a large part of the world economy and estimates range from 60-90 percent of GDP contributed by family businesses. In the South African context family businesses also form a significant part of the business environment. A literature study was conducted. The study identified five factors and considered each of these factors in the study. The five factors are: Green Business; Values; Stewardship; Succession; and, Stakeholders. In addition to a literature, primary research was conducted and data were collected by means of a questionnaire that collected data on the factors identified as well as some biographical information, including race, age and the sectors in which the respondents operated. The study’s findings correspond with the literature study, although no clear difference was found between family business and non-family business relating to green business and environmental issues. Family businesses do however believe that they are stewards of the environment and need to care for the environment.
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Musengi, Sandra. "Passing the spear : a grounded theory study of the influence of family business value sets on succession planning in black family-owned businesses." Thesis, Rhodes University, 2007. http://hdl.handle.net/10962/d1007056.
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Literature suggests that a small number of family businesses are able to make the transition from the founder to other family members with a common reason cited being the lack of planning. This study aims to build understanding of leadership succession in family businesses by focusing on the influence of a founder's family business value set on the succession planning process in Black family-owned businesses. Using the Strauss and Corbin (1990) grounded theory method, this study develops a theory of succession planning of Black familyowned businesses labelled Passing the Spear which is comprised of three stages based on an analysis of 21 qualitative interviews. The Spear was an analogy used to represent both the values of the founder and the family business, thus in Passing the Spear, founders where essentially performing a dual transfer of their values and leadership to the successor. The implementation of the process Passing the Spear was influenced by the family business value set of the founder, which in this study, were labelled as Traditional, Progressive, and Transitional. These value sets were distinguished by their behaviour regarding their choice of successor where founders with a traditional value set exhibited gatekeeping behaviour, while the behaviour of founders with a progressive value set was labelled navigating, and finally, founders with a transitional value set demonstrated behaviour labelled exploring. Furthermore, it was found that after the successor had been chosen, founders appeared to follow a generic succession planning process, however, the ease and timing of implementation was influenced by the family business context, evidence of being proactive and the degree of family business resilience. The process of Passing the Spear comprised of three stages of (a) Showing the spear where the founder's focus is on the induction and socialization of the successor using the strategies of bringing the successor into the family business and managing the family-business interface using relationships; (b) Explaining the spear entailed founders using the strategies of sharing knowledge and teaching the successors about the family business; and ( c) Sharing the spear was where founders focused on empowering the successors by implementing strategies of sharing responsibilities and learning from the successor.The process provides insights into the influence of family business values on the succession planning process and can be useful for founders of Black family-owned businesses in planning for succession in their businesses. In addition, the study provides another perspective of succession planning and offers a contribution to the literature for understanding succession in Black family-owned businesses.
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Welk, Kara L. M. "Family Business Contributions to the Community: A Comparison of Copreneurs and Other Family Business Owners on Community Social Responsibility." Thesis, North Dakota State University, 2012. https://hdl.handle.net/10365/26564.
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Copreneurs, defined as couples who jointly operate a business and share business-related responsibilities and decisions, represent a growing portion of family business (Fitzgerald & Muske; 2002; Marshack, 1993, 1994). However, knowledge of copreneurs remains limited in the research literature. The uniqueness of copreneurs may be particularly meaningful with respect to community social responsibility, referring to the contributions a business provides to the community beyond the products and services offered (Besser, 1999). This study explores the potential differences between the socially responsible behaviors of copreneurial and noncopreneurial businesses using the Sustainable Family Business Theory as a framework. Analysis focuses on the influence of business owner, business, community, and family characteristics on the community social responsibility of copreneurs and noncopreneurs. Data from the 2000 panel of the National Family Business Survey (NFBS) was used. Findings indicate that certain characteristics and contexts influence community social responsibility, although copreneurship is not a significant predictor.
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Chesley, Daisy. "Succession Planning in Family-Owned Businesses." ScholarWorks, 2017. https://scholarworks.waldenu.edu/dissertations/3554.
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Many family-owned businesses lack strategies regarding succession planning. Succession planning is a company's way of embracing the future. The majority of U.S.-based family-owned businesses do not survive to the second generation, and only 3% of family-owned businesses make it past a third generation. This descriptive case study explored strategies that 4 leaders of a family-owned financial business in the Washington, DC area use to prepare future generations to assume leadership roles in their company. The theory of family systems and the theory of organizational and business development were the conceptual frameworks for this study. In-depth interviews with purposively selected members of the small family-owned business were supplemented with a review of documentation from archival records. Yin's 5-step analysis guided the coding process of participants' response, capturing essential elements using the participants' own language. Member checking was used to validate the transcribed data. The major themes of the study revealed the owners' strategies relating to comprehensive business development, examining the family systems, strengthening retention of all employees, examining organizational theory, planning for the future with contingency strategies, strengthening team building, training and support, and understanding leadership knowledge and leadership competency. This study may benefit small businesses by providing lessons learned on ensuring organizational sustainability. This study's implications for social change include contributing to social stability and continuing economic growth.
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Seaman, Claire Elizabeth Anne. "Family business networks : mulit-rational perspectives on networking in family owned and managed small and micro-businesses." Thesis, Edinburgh Napier University, 2011. http://researchrepository.napier.ac.uk/Output/5684.
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This portfolio considers the manner in which family businesses network. Networks are vital for small and micro-businesses but within current research mono-rationalist approaches, where the business is studied in relative isolation from the social component, predominate, despite an acceptance that in family businesses a family and a business co-exist. The report and papers within this portfolio argue that alternative perspectives on family business networks exist and can form appropriate frameworks for research. Specifically, an expansion of current network theory to include factors not directly relevant to the business but which by existing may influence the business is proposed, characterised here as theories of multiple rationalities. Multi-rational perspectives on family business networks offer, it is argued, greater understanding of the co-existence of family, friendship and business networks. This portfolio contains four components. A report sets family business research in context and summarises the over-arching conclusions of the portfolio. Output One comprises a literature review using secondary sources to examine current developments in family business research. Notably, discussion surrounding multiple-rationalities in the strategy literature is pertinent to the study of networks and provides the basis for the schematic model developed in Output One. Output Two considers family businesses in a peri-urban area, providing evidence to support the use of multi-rational approaches and concludes with two illustrative case studies which allow the additional network links visible using multi-rational perspectives to be viewed. Output Three presents a case study of a family with a distinct and on-going pattern of business start-up, whose approaches to networking are explored from a multi-rational perspective. In addition to the business implications, the implications for policy and business support research are considerable. If family businesses draw on networks for business support, understanding networks should form a vital part of both policy and the business support landscape.
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Van, Zyl Jacques. "Attraction and retention of non-family business employees." Thesis, Nelson Mandela Metropolitan University, 2010. http://hdl.handle.net/10948/1365.
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The purpose of this research treatise was to identify specific aspects related to employees in a non-family owned business that can be adopted by family owned businesses in order to attract, attain and motivate non-family employees. The focus of the researched aspect was based on seven categories of business management, namely; governance, policies and procedures, direction and planning, leadership, employee development, rewards and other general related characteristics. The research commenced with a literature review, which centered on background information pertaining to family owned businesses and specific aspects related to organisation and management thereof. It was assessed that very few completed research papers exit that addressed the topic as indicated above. The research focussed on a medium sized, non-family owned business within the consulting engineering industry. The physical research consisted of a questionnaire distributed to all of the employees of the particular firm. The questionnaire was made up of two sections. The first was a typical Likert scale type and the second, open ended questions. The questions of both question sets were categorised in specific business control and management topics, namely: - Governance; - Policies and procedures; - Direction and planning; - Leadership; - Employee development; - Rewards; and, - General aspects. The primary objective of this study was to identify and explore the factors that are regarded to be important by unrelated employees in work environment, specifically focusing on attaining, retaining and motivating aspects. The study found that the average employee prefers to have desire for formal management structures and see succession planning not only as an important sustainable business strategy, but also as an underlying motivation principle. Also identified were the partialities towards formal employee management systems, employee development, and the value of monetary rewards.
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Mienie, Carel Johannes Hendrik. "Perspectives on multi-generational family business success." Thesis, Stellenbosch : Stellenbosch University, 2014. http://hdl.handle.net/10019.1/96218.
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Thesis (MBA)--Stellenbosch University, 2014.Family businesses struggle to be sustainable over multiple generations. In fact, most family businesses do not survive past the second generation. With this study the goal of the researcher was to provide family businesses with a conceptual model which could assist them to become multi-generational financially sustainable. This goal was achieved by answering the main research question, namely: What are the critical elements that a family business should consider continuously in order to ensure multi-generational financial sustainability? Those critical elements that a family business should consider were firstly explored through a literature review process. From this literature review a preliminary conceptual model was developed. Secondly, seven family business experts, with a total of 176 years of family business experience among them, were selected in order to gain their perspectives on the critical elements that family businesses should consider to be sustainable over multiple generations. They were also requested to evaluate the preliminary conceptual model and were invited to make suggestions for the improvement thereof. This exercise provided the researcher with ample information in order to create a valid final conceptual model, which in this study is referred to as: The Family Business Success Map. During the final part of this research study, the Family Business Success Map was applied to an existing multi-generational family business in order to evaluate the processes which it followed during two situations of succession, and some recommendations were made. This study can contribute towards the field of family business management through the development of a conceptual model, the Family Business Success Map. This can be used by owners and advisors to help family businesses to implement those critical practices that successful multi-generational family businesses have followed. The study found that family businesses needed to become more structured and professional. It further found that there were five critical practices which successful family businesses followed in order to be sustainable over the long term. Those five critical practices were conceptualised in the Family Business Success Map. The basis for all five practices is good governance, transparent communication and an entrepreneurial orientation. The challenge for family businesses is to grow their businesses faster than their families. In order to accomplish this, family businesses need to invest continuously in the entrepreneurial development of their management. This study found that the first practice which successful family businesses followed was that they formally planned for succession. This plan should clearly state what the ground rules of succession are and should be revisited and adjusted continuously. The plan should provide for both ownership and management succession. The second practice which successful family businesses followed was that they were governed by Advisory Boards. These boards should meet regularly and should preferably include some independent members. Continuous development of board members is important. This forms part of the critical element: the practice of leadership. Furthermore, it was found that the third practice which successful family businesses followed was that they had a formal strategic plan in place. They also recommended that the trusted advisors of the family businesses should be involved in the process of formulating the strategic plan. Family harmony, the fourth critical practice, could be accomplished through transparent and comprehensive communication from the businesses to the families. Through the establishment of formal family meetings, family matters that were not business-related, could be dealt with. The last of the five critical practices which successful family businesses followed was the use of cost accounting management practices, not only in their normal business decisions, but in strategic decision-making as well.
Books on the topic "Familly owned business"
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Del Giudice, Manlio. Understanding Family-Owned Business Groups. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-42243-5.
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Family business. Mason, Ohio: Thomson/South-Western, 2004.
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PT, Infordev Aditama. The Indonesian family business profile: Exposing 150 family business. Jakarta, Indonesia: Infordev Aditama, 1998.
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Gemma, Baulenas, and Coma-Cros Joan, eds. Family business models: Practical solutions for the family business. Basingstoke: Palgrave Macmillan, 2010.
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Lee, Queena N. Successful family businesses: Dynamics of five Filipino business families. Quezon City: Ateneo de Manila University Press, 1997.
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Murdoch, Anna. Family business. New York: Morrow, 1988.
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Murdoch, Anna. Family business. London: Collins, 1988.
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Murdoch, Anna. Family business. New York: Fawcett Gold Medal Book, 1989.
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Family business. London: Collins, 1988.
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Dutta, Sudipt. Family business in India. Thousand Oaks, Calif: Sage Publications, 1999.
Find full textBook chapters on the topic "Familly owned business"
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Del Giudice, Manlio. "From Family Businesses to Business Groups." In Understanding Family-Owned Business Groups, 61–103. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-42243-5_3.
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Del Giudice, Manlio. "Family Business Between Family and Business: Theoretical and Practical Perspectives." In Understanding Family-Owned Business Groups, 19–60. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-42243-5_2.
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Lipman, Frederick D. "Selling a Family Owned Business." In The Family Business Guide, 119–32. New York: Palgrave Macmillan US, 2010. http://dx.doi.org/10.1057/9780230111806_11.
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Del Giudice, Manlio. "Untangling the Origins of Family Business." In Understanding Family-Owned Business Groups, 1–18. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-42243-5_1.
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Del Giudice, Manlio. "Business Groups in the Emerging Markets." In Understanding Family-Owned Business Groups, 133–61. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-42243-5_5.
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Del Giudice, Manlio. "Emerging Markets: Institutional Problems and Entrepreneurial Models." In Understanding Family-Owned Business Groups, 105–32. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-42243-5_4.
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Aronoff, Craig E., Stephen L. McClure, and John L. Ward. "Preparing the Responsible Owner Team." In Family Business Succession, 57–60. New York: Palgrave Macmillan US, 2011. http://dx.doi.org/10.1007/978-1-137-51208-6_7.
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Shea, Kathleen V. "Consulting to family-owned businesses." In Earning a living outside of managed mental health care: 50 ways to expand your practice., 97–99. Washington: American Psychological Association, 2010. http://dx.doi.org/10.1037/12138-020.
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Aronoff, Craig E., and John L. Ward. "What Is a Family Business Owner?" In Family Business Ownership, 5–19. New York: Palgrave Macmillan US, 2011. http://dx.doi.org/10.1057/9780230116023_2.
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Alderson, Keanon J. "Effective Governance in the Family Owned Business." In Corporate Governance, 399–414. Berlin, Heidelberg: Springer Berlin Heidelberg, 2012. http://dx.doi.org/10.1007/978-3-642-31579-4_17.
Full textConference papers on the topic "Familly owned business"
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Ratnasari, Utami, and Desi Adhariani. "Family-owned and State-owned Firms Disclosure: Comparative Analysis of Indonesia Public Firms." In Proceedings of the 2018 International Conference on Islamic Economics and Business (ICONIES 2018). Paris, France: Atlantis Press, 2019. http://dx.doi.org/10.2991/iconies-18.2019.9.
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Wijaya, Henryanto, Alvin, and Hadi Cahyadi. "Factors That Affect the Financial Performance of Family-Owned Manufacturing Companies Listed in Indonesia Stock Exchange." In Ninth International Conference on Entrepreneurship and Business Management (ICEBM 2020). Paris, France: Atlantis Press, 2021. http://dx.doi.org/10.2991/aebmr.k.210507.037.
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