Dissertations / Theses on the topic 'Family-owned business enterprises – Canada – Management'

Family owned businesses play a vital role in the economy of a country, therefore their sustainability and succession is a topic that requires adequate research and analysis. This is required to determine the impact and contribution at a socioeconomic level and future development of the family owned business. Within the Nelson Mandela Metropolitan area previous research has been conducted analysing the above with regard to Greek family businesses. There is a little evidence to suggest similar studies have been conducted on Indian owned family businesses, specifically businesses operating at a third generation level. This research will therefore analyse Indian owned family businesses that are at a minimum level of third generation within the Nelson Mandela Metropolitan area. The purpose is to investigate whether there is any specific cultural attributes of the Indian culture which have contributed to their success.

The importance of SME family businesses is evident in society. Coming out of a recession, the innovation, labour absorption and employment creation capabilities of SMEs and family businesses globally, and in emerging economies with high levels of unemployment and poverty, is incredibly important for environmental sustainability and societal harmony. Good governance is empirically proven to improve long-term sustainability of organisations, and poor governance is linked to the demise of many businesses – large and small, family and non-family businesses alike. This research, by means of a thorough literature review of family business and governance, and a single in-depth case study, identifies the components of SME family business governance in a contextual setting in South Africa. The literature review defines SMEs, family businesses and corporate governance. It reviews the nuances of family businesses that make them distinctive from non-family businesses, the models of family businesses that have been developed over time, the approaches to corporate governance, corporate governance codes of conduct, and family business governance models, as well as the components and dynamics of family business governance. The qualitative case study approach adopted enables the in depth contextual identification and exploration of the dynamics of family business governance. Empirical data collected from interviews, observations and reports are analysed using triangulation and pattern matching logic to ensure validity and reliability. Empirical findings are discussed with reference to the literary research findings, integrating literary and empirical findings, and resulting in the development of a conceptual model of family business governance, an SME family business governance structures model, and an SME family business authority delegation model. Governance is defined as the manifestation of the intent of the founder/owners of the business. Governance is manifest in structures, strategies, policies, procedures, relationships and performance. The reciprocity of transfers and outputs between the family business systems, the family business and its contextual environment is reflected in the performance of the business; which in turn is a reflection of the governance of the family and the family business. The study concludes with the importance of the family and its cohesion and harmony, and the impact it has on synergy, unity and harmony in the business. The study also finds that governance is strategic leadership, and that efficient and effective governance leads to synergies between the family, the family business and its contextual environment that when harnessed and directed towards a vision, can produce unimitable competitive advantages for the family firm.

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.

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.

Thesis (MBA)--Stellenbosch University, 2000.
ENGLISH ABSTRACT: Family businesses are increasing in the western societies. They will continue to play an important role in most economies. There is a growing interest among young people to get involved in family businesses. It is therefore important that issues and factors influencing the behaviour of family businesses be highlighted and understood by those interested in family businesses. This study investigates the dynamics in family businesses and concludes on the issues of remuneration, conflict and succession. The family business is a composition of two complex systems, family and business, with at its lead an entrepreneur. Entrepreneurs are the "green barets" of our economy, they are the people with guts, who survive on a mixture of unwarranted confidence and blind hope. This study focused on the issues of remuneration, conflict and succession as described in literature. Founders/managers should be sensitive to these issues and the management thereof. The emotions involved in family businesses make them unique compared to other businesses. Businesses that fail to address these issues will experience more problems than businesses which proactively deal with the issues. The results of this research indicate that family business globally experience similar dynamics. It is suggested that founders/managers make an effort to uncover the issues threatening the health of their business and address them.
AFRIKAANSE OPSOMMING: Familie ondememings is aan die toeneem in die westerse gemeenskappe. Dit het in die verlede en sal soveel te meer in die toekoms 'n belangrike rol vertolk in meeste ekonomië. Daar is 'n toenemende belangstelling onder jong entrepreneurs in familie besighede. Dit is dus belangrik dat die realiteite en faktore wat in familie besighede teenwoordig is, onder entrepreneurs se aandag gebring word sodat hulle nie oningelig is nie. Hierdie studie het juis ten doel om die sake rakende konflik, vergoeding en opvolging na te vors. Familie besighede is die samevoeging van twee komplekse sisteme naamlik familie en besigheid, met 'n entrepeneur aan die stuur van hierdie kombinasie. Entrepreneurs word beskou as die baanbrekers van die ekonomie, hulle beskik oor deursettingsvermoë, geloof en hoop. Hierdie tesis beskou vergoeding, konflik en opvolging vanuit 'n literatuur oogpunt. Dit is van kardinale belang dat stigters/bestuurders van familie besighede sensitief is vir hierdie aspekte en dit bestuur. Die uniekheid van familie besighede stem van die emosies daarbinne af. Besighede wat versuim om aandag aan hierdie dinamika binne familie besighede te gee, kan meer algemene probleme verwag as die besighede wat wel proaktief optree. Hierdie studie kom tot die gevolgtrekking dat familie besighede oor die wêreld heen soortgelyke probleme ervaar. Daar word voorgestel dat eienaars/stigters/bestuurders daadwerklik aandag gee aan die faktore en realiteite wat die gesondheid van familie besighede bedreig.

Family businesses constitute a large number of businesses worldwide contributing significantly to the global economy. Succession planning is a key issue influencing the sustainability of these family businesses. According to research, approximately 30% of businesses fail due to matters related to succession planning (Grote, 2003). Further research indicated that approximately 50% of family businesses do not have adequate succession plans in place. Hence, family businesses are exposed to significant risk in sustainability due to insufficient succession planning. An effective approach to succession planning in a family business increases the chance of success of a family business in both the short and long term. The purpose of this study was to develop a better understanding of approaches to succession planning in two family businesses in East London, South Africa. This purpose was to improve the commercial viability of family businesses and improve the body of knowledge from an academic perspective. To this end, a detailed literature study was conducted on family businesses and succession planning. A qualitative case study research paradigm was implemented to ascertain the nature of the approaches adopted by the two businesses. An interview process was conducted with the incumbent founders (fathers) and successors (sons) of the family business. This process suggested that each business requires a unique approach to succession plan which may include aspects of formal and informal processes. It is necessary to understand the nature of the family business, its interrelated relationships and context to adequately determine the success of a succession approach. It is for this reason that families aspiring long term sustainability should invest in effective succession planning approaches that integrate the nuances of the individual family business.

A business needs to be dynamic and adjustable to survive in the ever-changing marketplace in which it operates. The environment is no longer merely the immediate domestic business environment within which the specific business operates but also, with the advent of information technology and globalisation, overseas markets. This is true for all businesses and no less so in respect of family businesses. Balshaw (2003:23) lists the many issues which impede family businesses as, amongst others: Unresolved family and personal issues; Dysfunctional relationships; Poor communication; Lack of commitment; No succession plan or timetable; Inability of the senior generation to relinquish control; No unifying vision or dream in the family; Open conflict; Nonexistent decision-making and governance structures; Lack of transparency and openness; Failure to plan strategically. In addition to this the business must be aware of and react to the changing circumstances in the environment.

Family business literature reveals that the majority of family businesses do not make it to the second generation, and quite a few are fortunate to be passed onto the third generation. Succession planning is the critical issue that enhances continuity of the family business. Relational influences indicate that the balancing of family systems and business systems is more likely to encourage high quality succession. The development of effective practical governance systems can help the family business achieve its strategy. External influences indicate that owner role adjustment, defined as the predecessor’s “letting go” in the firm, as well as the development and mentoring of the successor, shape the effectiveness of succession in the family business.

Family businesses are prevalent in South Africa and throughout the world. Succession is one of the largest challenges facing family businesses. It has been estimated that only one third of family businesses survive to the second generation. This study attempts to determine what the main features are to promote successful family business succession and continuity. The family chosen for this research is the Venter family. The research has scaled the various influencing variables from the literature review into the following focus areas: relationships, conflict, vision, effective succession characteristics and continuity. The findings reflect many instances found in the literature, some are: individuals can manage themselves and have relationships with others; have the ability to resolve conflicts; have mutual support and trust; there is respect between the founder and successor; the business vision is clear; communication is open and clear and decisions are based on expertise and knowledge. Many other aspects are highlighted in the research that follows. In addition, the study attempts to identify the generational effects, the major characteristics of the family owned succession process and the views of the predecessors on the succession process and the post succession period.

China is a country built on traditions and one of its most respected traditions is a preference for the family unit. The closeness of the family unit is carried over into the economic life of the country. Family members not only live together, but also work together in the fields or in enterprises. The advantage of this is that families have a guaranteed labour force that is not only loyal and can also be trusted. The disadvantage however is that positioning within the business is not always based on merit and competence, or trustworthiness which can ultimately impede growth. This research was an examination of Chinese family-owned businesses that focused on their management practices. The purpose of the study was to explore the management characteristics of Chinese family-owned businesses by means of interview data collected from five Chinese businesses in the Cape Metropolitan area. The emphasis of the project concentrated on the establishment, expansion and growth, ownership and leadership, management structure, the impact of cultural factors and the strategy for the future as well as challenges in terms of competitors and environments.

Every business organisation has a unique set of challenges and problems. The family business is mainly affected by personal factors and family political influences. Most family business political influences are based on succession. Many of these problems exist in corporate business environments, but can be exaggerated in a family business. Family businesses go through various stages of growth and development over time. Many of these challenges will be found once the second and subsequent generations enter the business. One of the key problems is succession planning. Most family organisations do not have a plan for handing the power to the next generation, leading to great political conflicts and divisions. Despite the foregoing problems, family business is the world’s dominant form of business organisation. Based on figures compiled by the Family Firm Institute (FFI), in the Barclays Wealth Insights 2009, family firms comprise 80% to 90% of all businesses in North America. In the United Kingdom 75% of all businesses are family businesses. Some of the world’s biggest and best-known companies are family-owned. In the United States, some 37% of Fortune 500 companies are family-owned. In the global beer industry there are two family owned businesses in the top five, namely the Anheuser Busch Inbev Brewing Company and Heineken Breweries. Charlene de Carvalho-Heineken, a Heineken family member is delegate member of the Board of directors of Heineken Holding N.V. (Heineken Annual Report, 2011).This research report investigated succession at Heineken (as a family business). The researcher employed a mixed methodology approach where both quantitative and qualitative data collection instruments were used to gather data from two different groups of respondents (Heineken Operational Company Executives and Heineken Expatriates). Numerous attempts were made to contact Mrs Charlene de Carvalho-Heineken as well as other members of the Heineken family, without success. None of the questionnaires were returned. The research concluded that despite the fact that Heineken management has been highly professionalised with the majority of senior management structures filled with non-family members; the company is still a family business because 50.005% of the shareholding is held by Mrs. de Carvalho Heineken who is a family member. The research also observed that Mrs. de Carvalho Heineken sits on the Heineken Board of Directors. There is also an interesting side to the family ownership of the Heineken business. According to the Heineken Group’s 2009 Annual Report, the Hoyer family and Heineken family own L’Arche Green, a company that holds 58.78% interest in Heineken Holdings. This scenario confirms earlier research findings that according to the Agency Theory, managers who are not owners will not watch over the affairs of a firm as diligently as owners managing the firm themselves. The placement of Mrs.de Carvalho Heineken and Mr. D.P. Hoyer on Board of Directors is therefore very strategic in terms of maintaining the “familiness” of the Heineken business. Although respondents were not as direct as to whether there was a succession plan at Heineken, available documents reveal that indeed there is a succession plan at the company. It is interesting to note that Mrs. de Carvalho Heineken has been a member of the Executive Board of Directors since the age of thirty-four (she was nominated in 1988). This type of exposure to the Heineken business would went a long way in preparing Mrs. de Carvalho-Heineken for future positions. Her experience as a member of the Executive Board of Directors therefore confirms results of studies that found that positive firm performance by family successors is associated with successor’s development and intergenerational relationships, succession planning, successor’s potential capability, commitment to the firm and successor’s business skills.

Given the predicted increase in the number of family businesses owned and/or managed by siblings (Sibling Partnerships), as well as the lack of understanding and research attention given to such sibling teams, the purpose of this study was to contribute to the more effective functioning of such family businesses in South Africa by identifying the factors that impact on their success. With this purpose in mind, the primary objective was to identify, investigate and empirically test the possible influences of, and relationships between, various factors and the Perceived success of Sibling Partnerships. This study sets out to integrate prior findings and theories on team effectiveness and family relationships, to find support for these theories in the family business literature, and to incorporate these findings into a comprehensive model. The literature study revealed 5 main categories (context, composition, structure, processes, and people) of constructs influencing the Perceived success of sibling teams. Within these 5 main constructs, 13 underlying independent variables were identified and hypothesised to influence measures of effectiveness of sibling teams, namely the dependent variable Perceived success, and the 2 intermediate variables Financial performance and Family harmony. Of the 13 underlying independent variables, 6 were categorised as task-based and 7 as relational-based factors. In addition, hypotheses were formulated for possible relationships between the various task-based constructs (context, composition and structure) and the processes and people constructs. Each construct was clearly defined and then operationalised. Operationalisation was done by using reliable and valid items sourced from tested measuring instruments used in previous studies, as well as several self-generated items based on secondary sources. A structured questionnaire was made available to respondents identified by means of the convenience snowball sampling technique, and the data collected from 371 usable questionnaires was subjected to various statistical analyses. An exploratory factor analysis was conducted, and Cronbach-alpha coefficients were calculated to confirm the validity and reliability of the measuring instrument. The 6 task-based latent variables were confirmed by the exploratory factor analysis. However, all the other latent variables, as originally intended in the theoretical model, could not be confirmed. Instead, 3 dependent variables were identified, namely Financial performance, Growth performance and Satisfaction with work and family relationships, and 6 relational-based constructs, with some changes, did emerge. Structural Equation Modelling (SEM) was the main statistical procedure used to test the significance of the relationships hypothesised between the various independent and dependent variables. Because of sample size restrictions the conceptual model could not be subjected to SEM as a whole; consequently 10 submodels were identified and subjected to further analysis. The following independent variables were identified as influencing the dependent variables in this study: • Internal context • Complementary skills • Leadership • Shared dream • Fairness • Sibling relationship • Non-family members • No other family members (spouses and non-active siblings) In addition, the factors Complementary skills, Leadership, Past parent involvement, No present parent involvement, and No other family members, were identified as significantly influencing the relationship between the siblings involved in the Sibling Partnership. Furthermore, an Analysis of Variance (ANOVA), Multiple Linear Regression analysis and t-tests were undertaken to determine the influence of demographic variables on the dependent variables. How ownership is shared in a family business involving siblings, the shareholding between the siblings themselves, and the nature of leadership between the siblings, has been found to influence the iv dependent variables in the present study. In addition, a Sibling Partnership is likely to perform most effectively when it is composed of a relatively young sibling team that has a small age gap between the members, and business performance will improve as the siblings gain work experience together, and as the number of employees increase. This study has added to the empirical body of family business research by investigating a particularly limited segment of the literature, namely Sibling Partnerships in family businesses. By identifying and developing various models that outline the most significant factors that influence the success of such family business partnerships, this study offers recommendations and suggestions for managing family businesses involving siblings, in such a way as to enrich their family relationships and to improve the financial performance of their businesses.

Despite the fact that small family and non-family businesses in South Africa are important contributors to economic and social development, their failure rates are still high globally. Major contributing factors to this high failure rate are the lack of marketing skills and ineffective marketing practices. Therefore, the primary objective of this study was to establish what marketing mix strategies are used by small family and non-family businesses in the Eastern Cape and the influence of these strategies on Perceived business performance. The literature review dealt with the nature and importance of marketing, and the traditional marketing mix strategies were elaborated on from a small family and non-family business perspective. The traditional marketing mix strategies (4Ps) identified as influencing the Perceived business performance of small family and non-family businesses, were classified as Product-, Pricing-, Place-, and Promotion strategies. From the literature review, it was evident that the traditional marketing mix strategies have been criticised by a number of studies as not reflecting the holistic marketing concept within the 21st century. Yet, despite its simplicity various studies still find the traditional 4P framework to be a strong staple of the marketing mix. In this study, a quantitative research design was adopted and an exploratory and descriptive research approach of a cross-sectional nature were undertaken. A convenience sampling technique was used owing to the inaccessibility of a small family and non-family business database. The sample size in this study consisted of 195 small family-owned businesses and 145 small non-family businesses operating within the borders of the Eastern Cape. The primary data in this study was gathered by means of a structured, self-administered questionnaire. The measuring instrument was developed by sourcing items from several existing studies. Small family and non-family businesses were approached by fieldworkers and asked to participate in this study. In total 400 questionnaires were distributed, of which 340 were usable for further statistical analyses. Therefore, an effective response rate of 85% was achieved in this study. The validity and reliability of the measuring instrument were confirmed by means of an exploratory factor analysis (EFA) and by the calculation of Cronbach„s alpha (CA) coefficients. The five usable factors that were extracted from the EFA were identified as Pricing strategies, Competitive distribution strategies, Communication process strategies, Low cost promotion strategies and Perceived business performance. The CA coefficient for Pricing strategies indicated that the scale measuring this factor was not reliable due to it falling below the accepted norm of 0.6 and, therefore it was disregarded from further analysis. The CA coefficients returned for the remaining usable factors extracted from the EFA were greater than 0.6, thus indicating the scales measuring these variables provided satisfactory evidence of validity and reliability. The findings of the descriptive statistics showed that the highest mean score reported was for the independent variable Competitive distribution strategies, followed by Communication process strategies and Low cost promotion strategies. Based on the mean, respondents indicated that they often utilise Competitive distribution strategies and Communication process strategies, and seldom utilise Low cost promotion strategies. Pearson‟s product moment correlations revealed that all the marketing mix strategies, for both small family and non-family businesses, investigated were found to be significantly and positively correlated with the dependent variable Perceived business performance, and amongst themselves. The findings of the MRA showed that utilising Competitive distribution strategies have a significant positive influence on the Perceived business performance of small family businesses. The finding implies that the more small family businesses in this study provide high-quality and competitive products through distributions process methods by setting timing objectives, using distributions selection criteria and changing the distribution channel when needed to continuously satisfy customers‟ needs, the more likely the business is to experience growth in profit and sales and having loyal customers who make regular purchases and recommend the business to others. This study found no relationship between Competitive distribution strategies and the Perceived business performance of small non-family businesses, as well as between Communication Process strategies and Low cost promotion strategies and Perceived business performance of small family and non-family businesses. The results of the t-tests revealed that no statistically significant relationship was found between the Type of small business ownership and any of the three independent variables, Competitive distribution-, Communication Process-, and Low cost promotion strategies. Furthermore, the results of the Chi-square test for independence reported no statistically significant difference between using the family name as a marketing or branding tool and the size of the small business in this study. The results, however, indicated that as the business size increases, the more small businesses use their family name as a marketing- or branding tool. From the 18 sets of null hypotheses that were formulated, to explore whether the demographical variables had an influence on the marketing mix strategies utilised by the small family and non-family businesses, only 11 multivariant analysis of variance (MANOVA) relationships could be established as being statistically significant. These include the Gender of the business owner/manager, Age of the business owner/manager, Management qualifications of the business owner/manager, Ethnicity of the business owner/manager, Position in the small business, Years small business is in existence, Working experience of the business owner/manager, Management working experience of the business owner/manager, Form of business ownership, Area of business premises and Target market of the small business. This study has addressed a gap in the current literature regarding the influence of marketing mix strategies on business performance among small family and non-family businesses in a developing economy such as South Africa. This study has furthermore attempted to enlarge the body of knowledge available on marketing, especially concerning Communication Process, Competitive distribution strategies and Low cost promotion strategies. The results of the study differ somewhat from existing literature, and therefore add to the body of knowledge on marketing. Furthermore, the findings of this study show that small family businesses utilising Competitive distribution strategies have a significant positive influence on their Perceived business performance, and in doing so makes a small contribution towards increasing the success rate of these small family businesses and in return positively contribute to the economic growth and development of South Africa.

In recent years, succession has become a major theme in family business research. Much of the research effort has concentrated on the managerial dimension of succession, often subordinating the importance of other major variables such as family relationship dynamics and the form of business ownership on the succession outcome. Family enterprises are generally conceptualised as a dynamic, evolving systems in which the actions and interactions taking place amongst constituent groups determine the system's outputs. This study aimed to overcome the limitations of examining only one dimension of a system's activities by carrying out a longitudinal holistic analysis of the evolution of the family enterprise system as it went through the process of generational transition. The research for this thesis employed the multiple case study method to investigate the influence of emotional and developmental factors on the ability of business-owning families to make progress with the tasks required to complete a generational transition. Three specific issues were examined: the nature of the task environment facing the family enterprise system over the duration of the transition period; the approaches used by families to address the tasks required for them to move through the stages making up the transition process; and the extent to which emotional and developmental factors prevented or promoted progress being made with the generational transition. The results reveal that families face the same sequence of stages in the generational transition process. However, they differ in their ability to move through these stages, towards closure of the transition period and the achievement of a succession outcome, Importantly, the degree to which individuals and families are able to make progress is related to their ability to manage the anxiety generated during the transition process. Anxiety is created when the structures or network of interrelationships that hold their family enterprise system intact are evaluated and may be dismantled and reconstructed differently for the next stage in the system's development. The study supports the view that anxiety is generated during transition times when developmental pressures for change build up from changes taking place in the life-cycles underway within the family enterprise system. It also supports the view that developmental pressure (such as a crisis) from the business subsystem alone does not lead to transition task activity and progress. Progress in response to business sub-system pressure comes about when the opportunity exists to solve an ongoing adult development problem by implementing a solution to a transition task problem. The ability to manage anxiety was found to be related to both the quality of emotional functioning in the family and the extent to which the adult development agendas of both generations are in alignment. Favourable alignment brought a developmental opportunity for the individuals concerned. It allowed them to do the exploratory work required in order to assess the extent to which the family business could provide part of their life structure for the next phase of their development. However, in addition to adult development generational alignment, the study confirmed that the quality of emotional functioning in the family (their ability to overcome multigenerational patterns of functioning and behaviour) influenced the family's ability to make progress with ownership transfer and other tasks. The study concludes that emotional and developmental influences are mediating factors between the forces for change originating in the family enterprise system and its environment and the ability of those in the system to respond to the need for change and manage the transition process. It also found that families significantly underestimate the nature and complexity of the work involved in the transition process, as well as the timescale and emotional commitment required to complete the transition.

I study the role of auditing in mitigating agency concerns in family firms. Family firms face less severe agency problems due to the separation of ownership and control (Type 1) but more severe agency problems between controlling and noncontrolling shareholders (Type 2). As family firms make up a large part of most free enterprise economies it is important to examine these two agency problems with respect to auditor choice and audit effort. I find that family firms are more likely to choose a specialist auditor than nonfamily firms, consistent with the argument that family firms need to signal their non-expropriating behaviors by choosing specialist auditors. I further find that audit fees are lower in family firms compared to nonfamily firms, consistent with the hypothesis that the Type 1 agency conflict dominates the Type 2 agency conflict in the determination of audit effort and pricing. Moreover, consistent with prior literature that states that effective internal governance demands a quality auditor and more audit effort irrespective of ownership structure, I find that the positive association between family ownership and specialist auditor choice is stronger when internal governance is strong and the negative relation between audit fees and family ownership is weaker when the internal governance is strong. I find that these results on audit fees are robust to the use of alternative measures of concentrated influence such as CEO ownership, inside director ownership, and the presence of one or more founder directors. I also find that the effect of internal governance on audit fees is not limited to one or a few components of internal governance.

Thesis (MBA (Business Management))--University of Stellenbosch, 2009.
AFRIKAANSE OPSOMMING: In die navorsingsverslag het ons geleer dat dit belangrik is om kennis te dra van menslike gedrag. As ‘n mens ‘n goeie idee het hoe mense funksioneer en dinge doen, sal dit makliker wees om saam te werk en om mekaar beter te verstaan. Die skrywer het in hoofstuk twee gevind dat konflik ‘n positiewe invloed kan hê op die transformasie van ‘n seun/dogter in ‘n familiebesigheid. In Hoofstuk 2 word die belangrikheid van kommunikasie in enige besigheid, en veral in ‘n familiebesigheid, beklemtoon. Die skrywer het gevind dat daar nie ‘n groot verskil tussen De Villiers (1985) se studie en dié studie is nie. Hier is ‘n paar verskille wat in Hoofstuk 5 uitgelig is. Seuns en vaders weet nie regtig wat die seun se rol in die familiebesigheid is nie. Hierdie probleem kan direk toegeskryf word aan swak kommunikasie. In Hoofstuk 2 kan ons lees hoe belangrik kommunikasie is. Daar is geen strategie hoe die vader die besigheid gaan verlaat nie. Dit is belangrik om so ‘n verlatingsstrategie op papier vas te lê. Die rede vir so ‘n strategie is om ‘n doel te hê om na te streef en om daarna te werk. Dit kan as ‘n plan gesien word om vas te stel wanneer die vader kan aftree en die seun kan begin planne maak vir sy toekoms. Seuns en vaders het verskillende opinies. Marshack (2003) verwys in Hoofstuk 2 dat die jonger generasie deur konflik ‘n merk in die besigheid kan maak, maar dit hang af of hulle met ‘n doeltreffende oplossing vorendag kan kom vir die konflik of die probleem. In Hoofstuk 2 kan meer oor konflik gelees word. Die skrywer van hierdie navorsingsprojek hoop dat die lesers meer duidelikheid sal hê oor die onderwerp en die implikasies in bestuur en mensevehoudings as ‘n seun/dogter die familiebesigheid betree.
ENGLISH ABSTRACT: In this research report we learned how important it is to have an understanding of human behaviour. If one has a good understanding on how people function and operate, it is easier to work with other people and it is easier to understand one another. The writer learned that there is not a big difference between the results of the study done by De Villiers (1985) and this study. There are a few differences that can be found in Chapter 5. Sons and fathers are often confused on what role the son plays in the family business. This problem is usually a direct consequence of bad communication. In Chapter 2 we can read how important good communication is. There is often no exit strategy for the father in the family business. It is important to have an exit strategy on paper. The reason for an exit strategy is to have a goal to work towards. This is just a plan to see when it will be possible for the father to retire, and for the son to make plans for his future. Sons and fathers usually have different opinions. Marshack (2003) says in Chapter 2 that through conflict the younger generation can make a mark in the business if they come up with a proper and different solution. In Chapter 2 you can read more about resolving conflict. The writer hopes that you will have more answers on the implications in management and human relations when a son/daughter enters a family business after studying this research project.

Thesis (MTech (Business Administration (Entrepreneurship))--Cape Peninsula University of Technology, 2017.
Family-owned businesses have long played a significant role in the economies of the developed countries and are rapidly becoming an equally dominant force in those of developing countries. Family businesses are also recognised as a potential driver of economic growth and the creation of wealth throughout the world. The significant contribution which family businesses have been making to the South African economy over the last 300 years is made evident by the fact that approximately 80% of businesses in South Africa could be classified as family businesses and the equally compelling fact that they comprised of the order of 60% of the companies which were listed on the (JSE) Johannesburg Stock Exchange during its infancy. The main objective of the study was to determine the drivers of planning for succession in family-owned businesses in the township of Gugulethu in Cape Town in South Africa. The study also undertook to investigate the challenges which family-owned businesses encounter as they endeavour to transfer ownership and control from one generation to the next. The fact that although family-owned businesses contribute significantly to the economy, very often they do not survive a generational transition provides ample justification for undertaking to determine the factors which contribute to successful successions. This research study took the form of a real-time, longitudinal study in which the researcher could experience how the succession process unfolds in the family-owned businesses of the respondents and participants who made up the research sample. The study made use of a mixed methods approach to collect and analyse the data. In the quantitative study, questionnaires were administered to 120 owners and managers of family-owned businesses, while the qualitative data were obtained from in-depth interviews with owners and managers. The quantitative data were analysed using the Statistical Package for the Social Sciences (SPSS) software, while the data which were obtained from the face-to-face interviews were analysed by means of thematic analysis.

A troca de comando é um desafio para as empresas familiares que buscam a sobrevivência da empresa em longo prazo. O processo de sucessão é também o período de convivência entre predecessores e sucessores para o compartilhamento de conhecimento a fim de garantir que conhecimentos valiosos sobre o negócio se mantenham na organização, para que assim a troca do comando não afete o desempenho e eficiência da empresa. Dada a relevância do conhecimento no processo de sucessão de empresas familiares, destaca-se atividade de exploração de conhecimento, realizadas individualmente, mas também no compartilhamento de conhecimento entre predecessores e sucessores. A exploração de conhecimento pode acontecer por meio das atividades de exploitation, quando refere-se aos novos usos e combinações do conhecimento existente para atingir as metas de curto prazo, ou por meio das atividades de exploration, quando refere-se à busca por novos conhecimentos, desconhecidos e muitas vezes incertos. Por isso, as atividades de exploração de conhecimento se relacionam às características individuais na relação com demais membros da família, na rotina da organização. Fatores referentes à motivação e ao envolvimento do indivíduo com o negócio familiar podem ter influência em como tais atividades são realizadas na organização. Neste aspecto, estudos apontam as bases do comprometimento dos membros envolvidos no processo de sucessão como um aspecto crítico na sucessão. O objetivo desta pesquisa foi analisar a relação entre o comprometimento e as atividades de exploration e exploitation de conhecimento dos sujeitos envolvidos no processo de sucessão de empresas familiares. A abordagem adotada para a pesquisa foi a de métodos mistos com estratégia sequencial explanatória, sendo que incialmente coletou-se a analisou-se dados quantitativos. A partir dos achados quantitativos procedeu-se a segunda fase da pesquisa, de abordagem qualitativa com o objetivo de aprofundar os resultados da pesquisa quantitativa. A pesquisa foi aplicada na Federação das Câmaras de Dirigentes Lojistas do Rio Grande do Sul (FCDL-RS) considerando empresas familiares do Rio Grande do Sul envolvidas em processos sucessórios. Participaram da etapa quantitativa 303 associados e 10 associados participaram da etapa qualitativa. Os resultados indicaram que no nível individual de análise os respondentes realizam de forma ambidestra, ambas as atividades, exploration e exploitation. Já no nível do compartilhamento de conhecimento entre sucessores e predecessores, a ambidestria não foi identificada. Ao relacionar as atividades de exploration e exploitation de conhecimento individuais e no compartilhamento com o comprometimento, identificou-se relações positivas e negativas. A relação positiva foi percebida entre o comprometimento afetivo na dimensão referente à lealdade dos indivíduos ao negocio da família e as atividades de exploitation no compartilhamento e combinação de conhecimentos. Por outro lado, foram identificadas relações negativas entre o comprometimento de continuidade e afetivo, na dimensão referente ao desejo em permanecer na empresa e as atividades de exploration no compartilhamento para a criação de novos conhecimentos. O resultado da pesquisa indica que, ao discutir as atividades de exploration, exploitation e ambidestria de conhecimento o nível de análise e o contexto da pesquisa podem influenciar nos resultados do estudo.
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Fundação de Amparo à Pesquisa do Estado do Rio Grande do Sul, FAPERGS.
The change of command is a challenge for family businesses looking for of the business longterm survival. The succession process is a period of coexistence between predecessors and successors for knowledge sharing between generations to ensure that, the valuable knowledge about the business remains in the organization, therefore that the change of command does not affect the performance and efficiency of company. Given the importance of knowledge in the succession process of family businesses, we highlight knowledge exploration and exploitation activities, carried out individually, but also in the sharing of knowledge between predecessors and successors. Knowledge strategies can be perceived through the exploitation activities - relates to new uses and combinations of existing knowledge to achieve short-term goals, or by means of exploration activities - the search for new knowledge, unknown and often uncertain. Therefore, knowledge exploration ans exploitation activities may be related to individual characteristics and with the relationship with other family members in the routine of the organization. Thus, it allows considering the motivations and involvement of the individual with the family business may have an impact on how such activities are carried out in the organization. In this regard, previous studies indicate that the commitment bases of the members involved in the succession process, thus defining the commitment as a critical aspect of succession. The objective of this research was to analyze the relationship between the commitment and the activities of exploration and exploitation of knowledge of the individuals involved in the process of succession of family businesses. To reach the aim, was carried out a mixed methods approach with an explanatory sequential strategy, and initially collected to be analyzed quantitative data. From the quantitative findings we preceded to the second phase of research, with a qualitative approach that aimed to in depth the results of the quantitative research. The survey was conducted in FCDL-RS considering family businesses of Rio Grande do Sul – Southern Brazil, involved in succession processes. The final results considered 303 respondents participated in the quantitative step and 10 interviewers in the qualitative step. The main contribution of the study is the knowledge exploration and exploitation activities in the individual and the sharing between predecessors and successors, and beyond the commitment relating to these members. The results indicated that, in regard to the individual dimension of analysis, the respondents perform ambidextrous way, both activities. However, in the knowledge sharing dimension, ambidexterity was not identified. Relating the knowledge exploration and exploitation activities in the individual and sharing level with the commitment, the results identified positive and negative relationships. A positive relationship was perceived between affective commitment regarding to the loyalty dimension and exploitation activities for knowledge sharing and combination. On the other hand, negative relationships between the commitment of continuity and affective - regarding the desire to stay in business - and exploration activities on the share to the creation of new knowledge. The result of research indicates that, when discussing the activities of exploration, exploitation and ambidexterity knowledge of the level of analysis and the search context can influence the results of the study

The South African wine industry is polarised into the quantity-producing majority and the quality-conscious minority [Hughes, 2003]. The qualityproducing sector of the South African wine industry is dominated by family businesses. Research shows that there are approximately ninety familyowned wineries in South Africa. By international standards, South Africa is viewed as a quantity, not quality producing wine country, which will make it difficult to survive in an industry where quality is paramount for recognition. The ‘trailblazers’ of the international wine industry are family owned wineries [Robinson, 2000]. Twenty five percent of the 2003 five star South African wines were made by individuals or family wineries [Hughes, 2003], emphasising the growing importance of family wineries in the production of quality wines. It is important now, more than ever, with the industry opening up internationally, that survival of the family-owned wineries and their production of icon wines are promoted so that they can become flagship producers of the industry. The achievement of international status as a quality producing country, as well as building an industry based on the longevity of wine producing families, as well as a nation of wine lovers in South Africa should result.

Following the growing emphasis on the monitoring role of independent directors in the board of directors in the stock exchanges of Western developed countries, companies listed on the Hong Kong Stock Exchange are required to appoint independent non-executive directors (INEDs) representing at least one-third of their boards under the Listing Rules. Unlike those Western developed capital markets where listed companies are widely held, most listed companies in Hong Kong are controlled and managed by families. This means realistically, INEDs of those family-controlled listed companies can only be appointed to the boards with the support from the controlling owners. Under such circumstances, the INEDs' ability to monitor the performance of the management of those companies independently is put in doubt. This thesis intends to conduct a qualitative study using phenomenological approach to explore and understand the role and effectiveness of INEDs in family-controlled listed companies in Hong Kong based on the INEDs' lived experiences. The study is the first of its kind in the Hong Kong corporate governance research arena, as research studies on corporate boards and directors have often adopted a quantitative approach, using only publicly available archival data without in-depth discussions with the subjects on their real experience and views on their jobs. Accordingly, issues related to directors in family-controlled listed companies that require in-depth discussions with these directors are impossible to be addressed by such research approach. Through semi-structured interviews with INEDs of companies listed in Hong Kong, this thesis has contributed to the existing knowledge and literature in the research on INEDs and corporate governance in family businesses and provide useful hints and ideas to practitioners, listed companies, investors, regulators and policy-makers.

Thesis (MBA)--Stellenbosch University, 2007.
ENGLISH ABSTRACT: Why can some family businesses survive over several generations when others cannot even be successfully carried over to the second generation? Can it be connected to the creation and definition of wealth? To create wealth for future generations implies much more than just establishing a financially healthy family business. This report examines all the other elements that are crucial to creating wealth and prosperity. In his research Mr Jaffe found that the creation of wealth and prosperity consists out of six dimensions. These dimensions are spiritual capital, financial capital, human capital, family capital, structural capital and societal capital. All of these dimensions are examined and tested in this report and members of family businesses in the Western Cape were asked for personal contributions by completing a questionnaire. From the research it is clear that some of these farmers do not have the correct and necessary structures in place to make it possible for their family businesses to survive to the next generations. Some of these dimensions are being addressed while the farmers have no idea of how important they are to the survival of their family business. Communication is one of the most compelling requirements for success and members of family businesses will have to realise how important effective and healthy communication is. Family members have to be able to communicate their expectations of each other and have to know each other's positive and negative characteristics. This will help ensure that family members are applied in areas they are strong in. To reach its full potential a family business must utilise its members to the fullest. By following these guidelines lasting wealth and prosperity can be created.
AFRIKAANSE OPSOMMING: Hoekom kan sommige familiebesighede vir gesla9te lank corleet en ander nie eers suksesvol oorgedra word na die tweede ge51a9 nie? Het dit moontlik iets te doen met die skepping en definisie van rykdom? Om rykdom te skep vir toekomstige geslagte behels baie meer as net die daarstelling van 'n finansieel gesonde familiebesigheid. Hierdie tesis ondersoek die ander elemente wat oak van kardinale belang is in die skepping van welvaart. Mnr Jaffe het uit sy navorsing bevind dat die skepping van welvaart ses dimensies behels. Die dimensies is geestelike-kapitaal, finansiele-kapitaal, menslike-kapitaal, familie-kapitaal, strukturele-kapitaal en gemeenskapskapitaal. In hierdie tesis word hierdie dimensies getoet5 en ontleed. Daar is aan lede van landbou-familiebesighede in die Wes-Kaap gevra om hul persoonlike ervaringe te deel deur middel van 'n vraelys. Uit die navorsing is dit duidelik dat sommige van die boere nie al die regte strukture in plek het wat dit moontlik sal maak vir hul familiebesighede om die volgende paar geslagte te aorleet nie. Party van die dimensies word weer aangespreek sonder dat die boere besef hoe belangrik dit regtig vir die toekoms van hul familiebesigheid is. Lede van familiebesighede sal moet besef dat goeie, gesonde kommunikasie baie belangrik vir sukses is. Die familielede moet vir mekaar kan se wat hul verwagtinge van mekaar is en moet ook weet wat die goeie en slegte punte van die ander lede van die familie is. Oit sal daartoe bydra dat familielede aangewend kan word in die areas waarin hulle sterk is. Om die volle potensiaal van 'n familiebesigheid te bereik moet al die familielede optimaal benut word. So kan blywende rykdom geskep word vir toekomstige geslagte.

Based on the importance of small and medium-sized family businesses, with regard to their economic contributions, as well as the fact that their high failure rates limit their ability to positively contribute to the economic growth of South Africa, this study focused on selected marketing and branding practices of South African family SMEs, and whether these practices influence their financial performance and ultimately their survival. Against this background, the primary objective of this study was to investigate selected marketing and branding practices adopted by family SMEs in the Eastern Cape. An overview of the literature was provided whereby the nature and importance of SMEs, and more specifically family SMEs, were described. The various challenges SMEs face were explored, with marketing and branding being identified as one of the main challenges that contributes to the high failure rate of family SMEs. In addition to the marketing challenges faced by non-family SMEs, family SMEs face extra marketing hurdles, given the overlapping subsystem of family and business. However, despite these challenges, family SMEs are able to make use of their familial aspect by marketing and branding the business as family-owned. A positivistic research paradigm and quantitative research methodology was adopted for this study, using a descriptive research approach. The primary data collection procedures involved selecting the population, the sample, sampling techniques, and sample size. For the purpose of this study, the population consisted of all family SME owners operating within the borders of the Eastern Cape province. From the population, a sample was selected using both judgemental and convenience sampling. A total of 500 questionnaires were distributed, which resulted in 325 usable questionnaires, giving an effective response rate of 65.00 per cent. Given the cross-sectional nature of this study, a survey research method using a structured, selfadministered questionnaire was used to collect the primary data. The scales used to measure the factors under investigation were developed based on previous research. In order to assess the validity of the ordinal scales, tests for unidimensionality were undertaken. Only factor loadings exceeding the 0.5 cut-off point were considered significant. Not all the items loaded as expected. Only five of the original six items intended to measure the dependent variable Perceived financial performance loaded onto this factor. The researcher, together with two experts in the field of marketing and family businesses, deemed the items for the dichotomous questions to show evidence of content validity. The reliability of the ordinal scales was assessed by calculating Cronbach’s alpha coefficients, whereby coefficients greater than 0.7 were deemed a scale to be reliable. Cronbach’s alpha coefficients of greater than 0.7 were returned for all the factors measured using ordinal scales, except one factor namely Customer service differentiation. This factor was not considered for any further statistical analyses. The reliability of the dichotomous questions was assessed using the Kuder-Richardson Formula 20 (K-R 20). For the purpose of this study, Kuder-Richardson values greater than 0.5 deemed the dichotomous questions to be reliable. Kuder-Richardson values of greater than 0.5 were reported for the dichotomous items relating to Branding of the family name, but not for Marketing function. However, given that the questions were used for descriptive purposes only, the items measuring Marketing function were used for statistical analysis. The independent variables returned mean scores of between 3.220 and 3.773, with the majority of respondents feeling neutral or agreeing with the statements measuring these factors. The dependent variable Perceived financial performance returned the highest mean score of all the factors with the majority of respondents agreeing with the statements measuring this factor. The dichotomous questions relating to the Marketing function indicated that majority of respondents did not have a written marketing strategy or a separate department that deals with marketing for their family business. The dichotomous questions relating to Branding of the family name revealed that in most instances the family name (surname) does not appear in the name, brand, logo or advertising material of the family business. Most of the independent variables (Promotion of family business, Family business image and Stakeholder perception) reported significant and positive relationships with each other. The independent variable Perceived financial performance reported significantly positive relationships with two independent variables, namely Product differentiation and Family business image. The multiple regression analyses undertaken revealed that only one of the independent variables, namely Product differentiation, had a significant positive influence on the dependaet variable Perceived financial performance. This study found that the independent variables Promotion of family business and Family business image did not have a significant influence on the dependent variable Perceived financial performance. The results of the two single regression analyses revealed that a significant positive linear relationship exists between Stakeholder perception and Promotion of family business, as well as between Stakeholder perception and Family business image. The findings of the analysis of variance found that Number of employees was the only demographic variable that exerted a significant influence on Product differentiation. The results also indicated that Age of respondent, Generation ownership and Nature of family business had an influence on Promotion of family business. However, the post-hoc Scheffé test revealed that only Generation ownership had a significant influence on Promotion of family business. The analysis of variance also found that the demographic variables Age of respondent, Generation ownership and Number of employees exerted a significant influence on Family business image; however, the post-hoc Scheffé found that only Generation ownership had a significant influence on Family business image. Based on the findings of this study, numerous recommendations were proposed to assist the owners of family SMEs to ultimately improve their business’s financial performance by adopting appropriate marketing and branding practices. The findings of this study showed that by adopting a Product differentiation competitive orientation, family SME owners can enhance their financial performance. It is hoped that the findings of this study will provide family SME owners with practical suggestions on how to use a product differentiation competitive orientation to ultimately increase their longevity, and that the suggestions for future research will inspire future researchers to continue investigating the unique marketing and branding practices of family SMEs.

Despite the increasing significance of Chinese family businesses (CFBs) as an important sector in China??s fast-growing economy, family businesses in China have received little research attention in the literature. The aims of this study are two-fold. First, the study examines the current human resource management (HRM) practices of selected family businesses in the country in areas of recruitment and selection, training and development, performance appraisal, and rewards. Second, it investigates differences in HRM practices of CFBs between the eastern-coastal and inland regions of the country. From a questionnaire survey of 205 CFBs operating in seven cities in two regions, this study has found that CFBs combine their traditional informal, relationship-based HR practices with western-style HR practices. Furthermore, both univariate and multivariate analyses have demonstrated significant regional differences in HRM, thus supporting the argument that a firm??s HR practices are shaped by institutions in which the firm operates. The findings of this study make important contributions to both research and practice. First, the findings have provided further evidence to the applicability of institutional theory to the explanation of HRM practices. Second, the study has also provided some practical implications for HR managers of firms, both domestic and foreign, in China. However, results of this study need to be interpreted with caution because external validity is sacrificed to an extent given its focus on family businesses, a non-probability sampling method and relatively small sample size. In addition, the cross-sectional approach adopted in the study fails to identify changes in HRM over time. Despite the limitations, however, this study has contributed to the body of knowledge by enhancing our understanding of CFBs in China and their HRM that have been under-researched empirically.

This dissertation examines leadership and leadership development issues in family businesses. The data was collected during late 2003 through qualitative surveys and interviews with family businesses in South Africa. Research findings indicate family business leaders place high importance on selection and development of the next generation leader. The ability and desire ofthe next generation to lead the business is of concern to family business leaders as is the senior generation's ability to let go during transition. Non-family employees are valued as contributors to business success. Gaining the respect of employees is valued as an important aspect of next generation leadership development. Leadership development across generations in family businesses also occurs by the example and values of previous generations. Leadership development involves entering the business at a young age, learning to work hard, acquiring formal education, gaining independent work experience, and engaging in continuing education. Family business leadership needs for education and research include working with family and business dynamics, education in functional business areas, models for effective leadership transitions, forums for peer interaction, and tools for dealing with ownership and estate transitions. Stories told and retold in family businesses reflect sacrifice, fmancial and legal crisis, and disasters. The leadership lessons of theses stories center on hard work, persistence, vision and values, and recognition that the family business is about more than money. Conclusions include that leadership development in family businesses occurs through a synthesis of example from previous generation(s), work experience, and the process of earning employee respect. Recommendations are made for future research on (a) the role of example in family business leadership development, and (b) how stories play a role in passing on values to succeeding generations in family business.
Thesis (MBA)-University of Natal, Durban, 2003.

The spirit of this thesis is essentially written as a narrative; a story in which a perceived imperative to change the thinking and behaviour of a tradition-bound Chinese business (a unique multiple owned family food business) becomes a vision that leads to the design and implementation of a change management strategy that relies on workplace learning as the driver.

Lau Yuen-ke.
Thesis (M.Phil.)--Chinese University of Hong Kong, 2001.
Includes bibliographical references (leaves 122-123).
Abstracts in English and Chinese.
Abstract --- p.i
Abstract in Chinese --- p.iii
Acknowledgements --- p.iv
Table of Contents --- p.v
List of Tables --- p.vi
Chapter Chapter 1. --- Introduction --- p.1
Chapter Chapter 2. --- Literature Review --- p.5
Chapter Chapter 3. --- Hypothesis --- p.24
Chapter Chapter 4. --- Methodology --- p.43
Chapter Chapter 5. --- Sample Description --- p.53
Chapter Chapter 6. --- Empirical Results --- p.61
Chapter Chapter 7. --- Conclusion --- p.72
Appendix 1. Definitions and calculations of variables --- p.75
Appendix 2. Piecewise linear regression model suggested by Morck et al(1988) --- p.82
Appendix 3. Tables --- p.87
Bibliography --- p.122

A significant number of businesses operating in South Africa can be categorised as familyowned businesses and contribute substantially to employment creation, poverty eradication and wealth creation. Nonetheless, their longevity through generations remains a major cause for concern for all stakeholders. South African economy is characterised by a history of apartheid, where prior to 1994, the black majority only owned less than 5 percent of the businesses active in the economy. Since then, black majority participation in the economy has increased driven by the Black Economic Empowerment (BEE) legislation. Therefore, the aim of this study is to understand the influence of the incumbent, the successor, the family and the business, on management succession within black family-owned businesses in South Africa. The study followed an exploratory qualitative approach, using semi-structured interviews. Thirteen black family-owned business incumbents were interviewed with a view to answer the research questions. From the literature, 17 of the most widespread factors that influence management succession in family businesses were derived and formed the basis of the constructs or themes adopted during data analysis. All the interviews were recorded and then transcribed into text. A directed content analysis using ATLAS-ti was used to analyse the data, while constant comparative analysis using a meta-matrix was used to establish common themes to specific groups of respondents. The key findings showed that incumbent of black family-owned business regard the successor and incumbent-related factors as the predominant drivers of management succession. Commitment and interest of the successor towards the business and the quality of the relationship between the incumbent and the successor have a strong influence on decisions and criteria design across all the stages of the management succession process. From the family perspective, natural succession based on birth order and gender was considered to be the key determinant of the succession pool composition. Support of the successor by the family members through acceptance of the choice and not passing judgement when mistakes are made emerged as the critical family dimension that will influence the overall management succession process. In terms of the business itself, the size and nature of the business and change in market conditions were established to have a major influence on the succession process.
Dissertation (MBA)--University of Pretoria, 2014.
lmgibs2015
Gordon Institute of Business Science (GIBS)
MBA
unrestricted

Chan, Eunice Shan.
Thesis (M.Phil.)--Chinese University of Hong Kong, 2001.
Includes bibliographical references (leaves 108-119).
Abstracts in English and Chinese.
ABSTRACT --- p.i
CHINESE ABSTRACT --- p.ii
ACKNOWLEDGMENTS --- p.iii
TABLE OF CONTENTS --- p.iv
LIST OF TABLES --- p.v
LIST OF FIGURES --- p.vi
CHAPTERS
Chapter 1. --- INTRODUCTION --- p.1
Chapter 2. --- LITERATURE REVIEW --- p.5
Definitions of Turnaround --- p.5
Causes of Firm Decline --- p.6
Severity of the Situation --- p.8
A Western Perspective on Turnaround Responses --- p.10
Turnaround Success --- p.20
Turnaround in the Non-U. S. Contexts --- p.21
Chapter 3. --- THEORETICAL FRAMEWORK AND HYPOTHESES --- p.23
Organizing Framework --- p.23
Institutions and Their Impact on Turnaround --- p.26
Institutional Environment in East Asia and the West --- p.32
Hypotheses --- p.44
Chapter 4. --- METHODOLOGY --- p.54
Research Design --- p.54
Quantitative Methods --- p.55
Qualitative Methods --- p.62
Chapter 5. --- RESULTS --- p.65
Quantitative Results --- p.65
Qualitative Evidence --- p.79
Chapter 6. --- DISCUSSION AND CONCLUSION --- p.97
Implications --- p.98
Limitations and Future Research --- p.102
Conclusion --- p.104
REFERENCES --- p.108
APPENDIX 1: INTERVIEW PROTOCOL --- p.120
APPENDIX 2: ANALYSIS OF FIRMS WITH NON-ETHNIC CHINESE PRINCIPALS REMOVED --- p.121
APPENDIX 3: ANALYSIS OF FIRMS WITH LOW Z-SCORES --- p.123
APPENDIX 4: ANALYSIS OF FIRM SIZE --- p.126

Family businesses have become a topic of growing interest among scholars and policy makers at both international and local levels, particularly given the sector’s contribution to the world economies. The increasingly volatile employment climate that prevails in many African settings today has increased the focus on small and medium enterprises as engines of economic growth and employment creation, and Botswana is no exception. The majority of family businesses are small to medium enterprises. The main objective of this study was to investigate the effects of governance structures and systems on the sustainability and continuity of family-owned and controlled businesses in Botswana. A study of this nature was important in view that some key sectors of the Botswana economy are dominated by small and medium family businesses. Of concern is the lack of continuity from one generation to the other among family businesses. Therefore, an understanding of the family dynamics and family business governance systems is important for managing the success and survival of the family business. Studies on small and medium enterprises have been carried out in Botswana mostly focusing on their problems, but not on their governance and sustainability. This was done using a cross-sectional research survey design. The target population for the study comprised small and medium family-owned businesses drawn from the manufacturing and professional services sectors and registered with the Business Botswana and Local Enterprises Authority in 2017. A sample of 144 familyowned businesses based in Gaborone and Francistown was polled. Quantitative data for the research was collected using a questionnaire. The quantitative research methodology adopted applied correlation and regression analysis, utilised Pearson correlation tests and Levene’s independent sample tests were performed to measure the relationships between five independent variables and the sustainability and continuity of family businesses in Botswana. This research empirically tested five hypotheses relating to governance factors that affect the sustainability and continuity of family businesses in Botswana. The research findings support the notion that the presence of governance structures, effective communication, decision-making, succession planning, and a vision, mission and strategy have a positive effect on the sustainability and continuity of family businesses. This research also established that small and medium family businesses face the same challenges as any other formation by ownership of non-family small and medium enterprises. Evidence is also provided that the challenges faced by family businesses in Botswana do not differ significantly with challenges faced by small and medium family businesses, with most respondents citing a lack of funding as the major challenge. For small and medium enterprises to continue playing their critical role in the economic development of Botswana, they need to formalise and adopt systematic approaches to strategy formulation and implementation, succession planning, governance structures and compliance. It is recommended that future studies focus on developing systematic generic models and assist small and medium familyowned businesses to implement and improve on their sustainability and continuity of businesses in Botswana.
Business Management
D. Admin.

M.Tech in Business Administration (MBA)
The literature shows that most of these entities are run by their founders or by a small management team and very few such operators have proper succession planning in place. The lack of proper succession planning can have the direct effect of causing the collapse of these businesses especially when key players leave the business upon retirement or in pursuit of other options. The loss of knowledge and experience, and the consequences thereof for business is well-documented. The exit or exodus of key stakeholders can make a business vulnerable and diminish its worth as investors will not invest in a business that is unsustainable. Succession planning was identified as one of the most pressing issues for small, micro and medium enterprises in the corporate governance sphere.

Although private family organisations are prevalent role players in both the South African and international economies, limited research has been performed with regard to them. In terms of regulatory requirements, South African private organisations are neither legally required to comply with corporate governance principles, nor are they required to make their financial data available to the general public. Lack of available data, and limited available research, have resulted in an absence of clarity with regard to whether governance structures in private family organisations add any value to these organisations. This study therefore explores, through the use of a multiple-case study, how the individual private family organisations have structured their governance mechanisms, and the reasons as to why they chose to implement these structures. Both case studies revealed that governance structures, in general, add value. The implemented governance structures may even have contributed to the increase in financial performance over time.
Management Accounting
M. Phil. (Accounting Sciences)

This research was set out to investigate the role of knowledge management as a coping strategy for PHE institutions in Botswana, especially given that they operate in a highly regulated environment. One of the major drivers of volatility in the educational sector is intensely volatile regulatory environment in which the institutions operate. Further, a large portion of the stakeholder community of these institutions hold a strong believe that these institutions offer poor quality education to maximise profit. The primary objective of this study is therefore to determine the role of knowledge management (KM) enablers in facilitating KM practices in selected PHE institutions in Botswana that operate in this highly regulated environment and to develop a model for effective KM in these institutions. The study adopted a survey research design and collected quantitative data through a structured self-administered questionnaire and document reviews. The subjects comprised all five degree-awarding PHE institutions, which were strictly regulated by the Tertiary Education Council (TEC). The population surveyed came to 670 and sample size was 350. Data was analysed through various statistical measures such as Structural Equation Modelling (SEM) in the form of Analysis of Variance (ANOVA), multiple regression analysis, and Chi-square test. The results of the study revealed that KM enablers were playing an insignificant role in facilitating KM practices in selected PHE institutions in Botswana. Results of the study can be generalised to similar institutions elsewhere operating in similar environments. In order to enhance KM practices in PHE institutions, it is recommended that the institutions adopt a systematic approach to KM, establish an organisational culture and structure that promote KM practices, and enhance the quality of their human capital including leadership. It should be noted that the state of KM in organisations operating in an uncertain environment can be enhanced if the leadership carefully controls the family-owned setting and organisational culture as these factors can detract from the organisation’s effective practising of KM. However, strategic leadership, organisational structure, and the role played by stakeholders played positive deterministic factors in ensuring an enhanced KM drive.
Business Management
D.Admin. (Business Management)