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1
Aung, Nay Zar, and Youji Kohda. "Emergence of Familiness and Family Owned Business Performance." International Journal of Asian Business and Information Management 10, no. 3 (July 2019): 61–73. http://dx.doi.org/10.4018/ijabim.2019070104.
Анотація:
This article explores the concept of familiness in family-owned businesses (FOBs), identifying how families generate their own resources for business performance. Applying the resource-based view, the authors examined seven Myanmar businesses. Findings revealed that two factors influence familiness in Myanmar FOB: family unity and internal governance systems, which can be subdivided into traditional and collective systems. Moreover, evaluation revealed that FOB's business performance was affected by different family attitudes. A combination of family unity and a traditional internal governance system was conducive to controlling the internal business capabilities, whereas creating external opportunities were considered more effective for a combination of family unity and a collective internal governance system. Findings suggest that familiness emerges through embedded family resources that incorporates a sense of awareness with abilities for business advantages. These empirical results can provide insights and inputs that can help small and medium-sized FOBs safeguard their future.
2
Patrick, Okeke Anene, Nwosu Kanayo Chike, and Onyekwelu Njideka Phina. "Succession Planning and Competitive Advantage of Family-Owned Businesses in Anambra State." Cross Current International Journal of Economics, Management and Media Studies 4, no. 3 (June 25, 2022): 28–33. http://dx.doi.org/10.36344/ccijemms.2022.v04i03.003.
Анотація:
This work explained what succession planning is and the role it plays in granting competitive advantage to Family Owned Business (FOB) that implement it. FOBs are business entities that have ties with family, as many big corporations today started as FOBs. It is ubiquitous and a very old businesses form, but is survival rate is not encouraging as statistics reveals. Hence, this work looked at how the principles of succession planning can be used to perpetuate the existing of FOBs by giving them a sustainable competitive edge. Succession planning deals with making plans for when the founders/owners of such businesses are no longer around. This study examined the challenges facing succession planning in FOBS and reasons for succession management in businesses. Five works were empirically examined to see how they did their studies and their findings. The work concluded that to look at the sustainability of FOBs and their competitive advantage thereof, the issue of success planning is key. Following the conclusion, the study recommended among others that succession planning should not be left in the hands of businesses alone, seeing that these businesses are major economic players, the government needs to take a lead role in educating and ensuring they have succession plans in place.
3
Nnabuife, Ezimma K. N., Ngozi Ogechukwu Nwogwugwu, and Ifeanyi Emmanuel Okoli. "Polygamy and Family Owned Business Succession in Nigeria." International Journal of Management Excellence 13, no. 1 (June 30, 2019): 1891–97. http://dx.doi.org/10.17722/ijme.v13i1.1092.
Анотація:
With the alarming rate Family Owned Businesses (FOBs) die at the demise of its founders/owners this study looks at polygamy and the role it plays in smooth succession of FOBs in the Southeast Nigeria as its major objective. The study demystifised the concept of FOB and succession in FOBs vis-a-vis polygamy. The kitchen model of succession in FOBs operated by polygamous was also explained. Some factor militating against succession in FOBs of polygamous families were discussed in detail. It was concluded that since FOBs play a great part in the economy of nations Nigeria and Southeast part inclusive, those owned by polygamous families need to start the processes of succession early enough to aviod squabbles at the demise of owner/founder. Professionals should also be brought in early to handle major business decisions as well as avoid playing into the hands of sentiments and emotions while making critical succession decisions.
4
Ezimma K., Nnabuife, Okoli Ifeanyi Emmanuel, Arachie Augustine Ebuka, and Adani Nnenne Ifechi. "The Intricacies of Female Successors in Family Owned Businesses." Journal of Entrepreneurship and Business Innovation 6, no. 1 (June 23, 2019): 13. http://dx.doi.org/10.5296/jebi.v6i1.14680.
Анотація:
As a result of shortage of female successor due in part to gender bias succession practices, this study was necessitated to look at encumbrances against women successors of Family Owned Businesses (FOBs) in Anambra State. The broad objective of this study was to examine female successors and sustainability of family owned businesses. The work adopted a survey research design. The population of the study was 415 FOBs in Anambra State. Complete enumeration method was adopted so as to get the full opinion of all firms on gender issues and female succession. The data for the study was collected through structured questionnaire. A combination of descriptive (mean) and inferential statistics (chi-square) were deployed in the data analysis. The result showed that there are obstacles that have substantial effect on women becoming successors of FOBs in Anambra State and that sexism play a statistically significant role in determining successors in Anambra State. Sequel to this, it was concluded that women and men in Anambra State do not have a level playing ground in determining who becomes a successors of FOBs in Anambra state as there are hurdles women face and these obstacles have significant effect on who becomes a successors. Hence, the recommendation was that successors of FOBs should not be based on gender but on capability and the provision of level playing ground for both the female and male genders in the succession dynamics.
5
Budhiraja, Sunil, and Ujjwal Kumar Pathak. "Dynamics of succession planning for Indian family-owned businesses: learning from successful organizations." Human Resource Management International Digest 26, no. 4 (June 11, 2018): 31–33. http://dx.doi.org/10.1108/hrmid-11-2017-0167.
Анотація:
Purpose The purpose of this paper is to highlight the process and challenges faced by Indian family-owned businesses (FoBs) during succession planning and examine the recent advancements in succession planning of successful Indian FoBs. Design/methodology/approach The authors make use of recent developments in terms of succession planning by FoBs to prepare their impartial comments and summary. Findings It is evident that India has the third highest number of FoBs after China and the USA. The challenges for these organizations during the transition of the ownership to the next generation start from finding a competent family member to manage the conflict between the family and the board. Practical implications The paper provides strategic insight into leading FoBs in India for creating a systematic and robust succession plan in their respective organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information, and presenting it in a condensed and easy-to-digest format.
6
Ozdemir, Ozlem, and Phil Harris. "Primogeniture in Turkish Family Owned Businesses: An Examination of Daughter Succession, the Impact of National Culture on Gendered Norms and Leadership Challenge." International Journal of Family Business and Management 3, no. 2 (April 29, 2019): 1–18. http://dx.doi.org/10.15226/2577-7815/3/2/00127.
Анотація:
Family owned and controlled businesses, which may be owned, controlled or operated by various family members, account for an enormous percentage of global employment, revenues and GDP. Although the majority of well-known companies are family owned, research indicates that unfortunately, only thirty percent of family businesses survive to the second generation. Therefore, successful transfer of the business to the next generation is an important issue for the family business literature. However, although succession is a vital issue for Family Owned Businesses (FOBs), the process is unfortunately very gender biased in most societies, with boys being generally favoured over girls so daughters are always excluded as candidates and other women are seldom considered as successors in family businesses. In many cases, especially in certain cultures, female members of the next generation are not even perceived as a viable option. Even in today’s rapidly changing business climate, primogeniture continues to dominate the value system of family businesses. Primogeniture is an accepted approach to family business succession planning; daughters are only considered for family business succession when all descendants are female or the daughter is the first born. This study aims to identify the reasons behind the primogeniture in Turkish FOBs. The objectives of the study were to examine the key factors identified by the incumbents related with the primogeniture. In this research study, an interpretive methodology was adopted to explore, interpret and to understand meanings of knowledge. For this research, qualitative data were gathered via in-depth open-ended interviews with 20 male FOB owners who have at least one daughter and 20 daughters working at their FOB with their fathers. The questions were designed to measure different facets of FOB demographics and culture to understand their effects on the selection process within Turkish FOBs and gender norms in the context of FOB norms, which influence both family members and the business it. This study investigated daughters’ succession in FOBs in Turkey, a developing country where women are less likely than men to engage in entrepreneurial activities and show that gendered norms are still considered when choosing the successor, in other word, primogeniture still dominates the family business succession process. Keywords: Woman entrepreneurship; Primogeniture; Family Business; Gender; Culture;
7
Ekenechukwu, Ignatius Chukwuemeka. "Apprenticeship System and Performance of Family Owned Businesses in South East, Nigeria." Innovations 73, no. 03 (June 15, 2023): 549–61. http://dx.doi.org/10.54882/7320237316652.
Анотація:
This study focused on apprenticeship system and performance of Family-Owned Businesses in South – East, Nigeria. The study investigated the effect of cheap labour offered by apprenticeship on effective product pricing, the effect of distribution network created during apprenticeship on the market share, and the effect of graduate apprentice on market expansion of FOBs in South-East, Nigeria. The research adopted the descriptive survey design. The study was carried out in Abia, Anambra, Ebonyi, Enugu and Imo States. The study was carried out on the Family-Owned Businesses (FOBs). The response rate was 91.8% of the estimated sample size of 572. The study used multi-stage sampling technique for the sample selection. Data were analyzed using descriptive and inferential statistics. Hypotheses were tested using binomial logistic regression. Findings indicated that cheap labour offered by apprenticeship significantly and positively affect effective product pricing, distribution network created during apprenticeship has a significant positive on the market share and that graduate apprentice significantly and positively affected the market expansion. The study concluded that FOBs can benefit from these programs by accessing affordable labor, expanding their distribution capabilities, and leveraging the skills and knowledge of graduates. The study recommended among others that FOBs should collaborate with educational institutions, vocational training centers, and government agencies to design comprehensive and well-structured apprenticeship programs, and that these initiatives should concentrate on improving technical skills, fostering business acumen, and deepening product knowledge.
8
E. Appel, Mark. "A Helpful Guest at Table:The Use of Mediation by Family-Owned Businesses." BCDR International Arbitration Review 6, Issue 2 (December 1, 2019): 329–34. http://dx.doi.org/10.54648/bcdr2019006.
Анотація:
Family-owned businesses (FOBs) face unprecedented challenges in the wake of COVID-19. New revenue sources, workplace health and safety issues and an urgent need to drive both internal and customer-facing systems online all require quick and effective responses.This article explores how a skilled mediator can assist FOBs in reimagining themselves for the post COVID-19 environment. ‘There is no doubt that it is around the family and the home that all the greatest virtues … are created, strengthened and maintained.’ –Winston Churchill ‘Change or Die.’ – Alan Deutschman
9
WAH WONG, WAI, M. H. YAHYA, A. N. BANY -ARIFFIN, and TZE SAN ONG. "Technical Efficiency of Firms, A Comparison Study for Family and Non-Family-Owned Businesses in Southeast Asian Countries." International Journal of Economics and Management 16, Special Issue 1 (2022): 15–17. http://dx.doi.org/10.47836/ijeamsi.16.1.002.
Анотація:
This is a comparative study on firm efficiency, a proxy for firm performance, between family-owned business (FOB) and non-family-owned business (non-FOB). This study aims to determine a firms' efficiency by comparing FOB and non-FOB in Southeast Asia countries. The efficiency ratios for five Southeast Asian countries were estimated using Data Envelopment Analysis (DEA), before a two-sample T-test to determine the differences between FOBs and non-FOBs. Hence, secondary data research techniques from each country from 2007 to 2016 were used to conduct the comparison. The data were gathered from various sources. The findings did not archive any comparison in performance among FOBs and non-FOBs. This finding is fundamental for the Board of Director (BOD), senior management of the firms, researchers, policymakers, scholastics, and the overall population., Ceteris paribus, both FOB and non-FOB, ought to work at a similar efficiency even out and have the option to produce comparative returns for their shareholders. Subsequently, stakeholders can compare treatments to assist in alleviating the dependency on two unique treatments or strategies when managing FOB and non- FOB. In short, it could expand the BOD and management efficiency.
10
Tsamenyi, Mathew, Irvan Noormansyah, and Shahzad Uddin. "Management controls in family-owned businesses (FOBs): A case study of an Indonesian family-owned University." Accounting Forum 32, no. 1 (March 2008): 62–74. http://dx.doi.org/10.1016/j.accfor.2006.10.001.
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Botella-Carrubi, M., and Tomas González-Cruz. "Context as a Provider of Key Resources for Succession: A Case Study of Sustainable Family Firms." Sustainability 11, no. 7 (March 28, 2019): 1873. http://dx.doi.org/10.3390/su11071873.
Анотація:
Although succession is the single most important issue in family-owned businesses (FOBs), there is scarce comprehensive and integrative analysis of the context (i.e., the social, organizational, and normative setting) where succession events occur. Research usually focuses on the success or failure of succession processes, instead of the risks faced by FOBs during succession. The succession process takes time and multiple actors are involved. Therefore, succession is influenced by uncertainty and unforeseen events. This study addresses the aforementioned gap in the literature by investigating how context can reduce the risk of failure in succession. Based on organizational change theory and the resource-based view, this study considers family and business circumstances where interactions between actors take place and succession occurs. Since the research goal is deeply embedded in context, this paper presents a comparative case study of three Spanish FOBs that have experienced different kinds of organizational change in relation to management succession. The main conclusion is that risk of succession failure depends not only on detailed process design and planning, but also on a well-developed firm and family context that provides sufficient familiness resources to cope with unexpected events and address conflicts.
12
Rashid, Sumayya, and Vanessa Ratten. "A dynamic capabilities approach for the survival of Pakistani family-owned business in the digital world." Journal of Family Business Management 10, no. 4 (April 8, 2020): 373–87. http://dx.doi.org/10.1108/jfbm-12-2019-0082.
Анотація:
PurposeThe purpose of this paper is to identify the role of dynamic capabilities for the survival of family-owned business (FOB) in Pakistan. The paper aims at examining the impact of digitization on business landscape for FOBs.Design/methodology/approachData for this research were collected using in-depth interviews. About 24 interviews were conducted with the owners of 24 FOBs in four different states of Pakistan. Interviews were translated and transcribed. By using GIOIA methodology, first-order concepts, themes and aggregate dimension were identified that explained the additional dynamic capabilities needed for family businesses in digital era.FindingsThe results of the data analysis revealed that family businesses are struggling to cope with thriving digital market. Digital mind-set is needed to survive in the market. The ability to respond to change is needed. The intelligence and wisdom needed for creating and maintaining an intellectual asset should be used by investing in new technologies. Importantly, businesses need to maintain an emotionally and artificially intelligent brand.Research limitations/implicationsThe research is based on four different states of Pakistan. By focussing on each state could generate more data. The research is focussed on Pakistan to know about the dynamics of emerging economies. Replicating same research on other developing countries can bring more results. Lastly, it is a purely qualitative research. A quantitative analysis could bring a new context to the problem.Practical implicationsUnderstanding the challenges of family businesses for coping in digital market helps other family businesses to get a know-how before entering the market. Digital presence can help in building the brand but when not handled correctly can damage the brand as well. Investing in additional capabilities can provide a competitive advantage to family businesses. Family businesses possess a passion for the idea which helps to build the narrative for the brand.Originality/valueThis research is contributing to highlight the scenario of an emerging economy by studying the challenges of FOB in digitization. The literature provides more information and theories regarding developed countries. This research is a picture of developing economy and how wave of digital era has transformed the business landscape. In-depth interviews were conducted for deep insights which helps in contributing towards family business research.
13
Unnu, Nazli Ayse Ayyildiz, and Julide Kesken. "DIAGNOSING THE EFFECTS OF LEADER-MEMBER EXCHANGE QUALITY ON PERFORMANCE IN THE CONTEXT OF ORGANIZATIONAL CULTURE: A CASE FROM TURKISH FAMILY-OWNED BUSINESSES." Journal of Business Economics and Management 15, no. 1 (March 4, 2014): 174–95. http://dx.doi.org/10.3846/16111699.2011.653983.
Анотація:
The main purpose of this study was to diagnose the effects of leader-member exchange (LMX) quality on performance in the context of organizational and Turkish culture. The study was conducted in two family-owned businesses (FOBs), as they are very important structures in which in-group and out-group formations can be seen. Firm A (33 employees representing 41 dyads) and Firm B (61 employees representing 60 dyads) were especially chosen as they enabled us to apply the coding system leading to effective evaluation of surveys as the unit of analysis is “dyads”. In this framework, this study offers an important contribution to the international management literature as positive effects of LMX quality on firm performance, subordinate performance, intention to leave and job satisfaction were found within the context of organizational and Turkish culture. As the proportion of FOBs is almost 95% in Turkey, they represent Turkish economy and business culture well, leading to more generalizable results. Thus, firms can lead to increase in both subordinate and firm performance by creating an organizational culture in which high quality leader-member relationships are emphasized, finally leading to positive organizational outcomes.
14
Haag, Kajsa, Jan Andersson, and Lars-Göran Sund. "Share Transfer Restrictions and Family Business: The Minority Shareholder Perspective." European Business Law Review 26, Issue 3 (May 1, 2015): 437–50. http://dx.doi.org/10.54648/eulr2015022.
Анотація:
Small- and medium-sized enterprises (SMEs), of which most are family-owned businesses (FOBs), play a substantial part in any nation's economy. They are, in many ways, different from large companies with scattered ownership; therefore, further developments accounting for their special circumstances are needed. We study shareholder protection and aim to narrow the gap between theory and practice regarding commercial law in relation to the FOBs. An entrepreneurially friendly environment presupposes that owners can protect their ownership positions against unwanted acquisitions of shares, and not be unwillingly locked-in in a position as minority owners. This requires legal rules that are neither unnecessarily costly, nor time and energy consuming to comply with. Legislators should thus provide a set of rules that facilitates owners to effectively avoid both unwanted acquisitions of shares and locked-in positions. We conclude that default rules, such as a right of first refusal, should be included in the articles of association. We also find it important to allow clauses that enhance the possibility of avoiding locked-in positions, where most national legislations today permit only clauses that contribute to the protection of ownership positions.
15
Laffranchini, Giacomo, John S. Hadjimarcou, Si Hyun Kim, and Mike Braun. "The internationalization of family-firms: a signal detection approach." Journal of Family Business Management 6, no. 3 (October 10, 2016): 291–309. http://dx.doi.org/10.1108/jfbm-11-2015-0039.
Анотація:
Purpose The purpose of this paper is to explore the internationalization process of small and medium family-owned businesses (FOBs). The authors strive to explain the extent to which family business CEOs identify a signal in either the domestic or international environment for internationalization as a viable business opportunity. Design/methodology/approach The authors rely on signal detection theory to develop a conceptual model that explains the cognitive process inducing the CEO-founder of an FOB to discover and exploit an opportunity in the international market. Findings The conceptual model proposes that constraints in a family-firm’s domestic market, as well as opportunities in the foreign market act, as signal strength. However, family business CEO-founders’ centrality and inward orientation might lead them to ignore a signal by generating noise and reducing the motivation to collect further information concerning the trustworthiness of the signal. Research limitations/implications The model is conceptual; future research should strive for a potential way to operationalize the cognitive process described herein. In addition, the theoretical argument has been developed in the context of family firms wherein the founder plays a pivotal role. Future research may extend the theoretical arguments to those family firms that are at an advanced stage of development. Originality/value The study reconciles conflicting findings concerning the internationalization of FOBs. In doing so, the authors employ an interdisciplinary approach and develop a conceptual model that sheds additional light on the cognitive processes underlying internationalization decisions among founder-centered family firms.
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Haque, A. K. M. Ahasanul, Md Asadul Islam, and Md Shahadat Hossain. "Empirical analysis to the factors impact on succession process of the family-owned businesses (FOBs) in Bangladesh, moderating role of education." International Journal of Business Innovation and Research 1, no. 1 (2020): 1. http://dx.doi.org/10.1504/ijbir.2020.10032875.
17
Magasi, Chacha. "Management succession planning and family-owned manufacturing businesses survival." International Journal of Research in Business and Social Science (2147- 4478) 10, no. 8 (January 1, 2022): 12–24. http://dx.doi.org/10.20525/ijrbs.v10i8.1486.
Анотація:
It remains unclear how lack of management succession planning relates to the collapse of 87% of the Tanzanian family-owned manufacturing businesses (FOMBs) after the first generation. Also, the question of whether a firm’s background variables, namely; executive’s education level, business age, and business size, moderate the relationship between management succession planning and the survival of FOMBs remains unanswered. Therefore, this study investigated the relationship between succession planning and the survival of FOMBs, moderated by the firm’s background variables through the lens of resource-based theory as well as agency theory. A sample of 339 executives was randomly drawn from the FOMBs in Dar es Salaam city where the collapse of FOMBs after the first generation was revealed to be significant and surveyed using a structured questionnaire. Multiple linear regression was used as a quantitative data analysis technique with the support of SPSS as an analytical tool. Results revealed that management succession variables, namely; training the successor, successor involvement in business management and successor factors-work fit had a positive and significant relationship with the survival of FOMBs. However, the internal recruitment of the successor had an insignificant relationship with the survival of FOMBs. Therefore, management succession planning sustains the leadership pipeline and survival of the FOMBs through the involvement of the successor in business management, sufficiently training the successor, and handing over power to the successor whose competency and factors fit with the relevant work. The study contributes to an understanding of management succession planning variables and how they relate to the survival of family-owned manufacturing businesses. The study also provides a new conceptual framework on transgenerational management succession planning in the FOMBs.
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Skidan, Daria, and Valeriia Iefymenko. "Family-owned business in crisis: Introduction of outside manager in the board." Corporate Ownership and Control 8, no. 2 (2011): 111–19. http://dx.doi.org/10.22495/cocv8si2p5.
Анотація:
Family-owned business is a company owned and/or controlled by family members. Nowadays FOBs occupy an integral part of world economics and contribute greatly into the world’s GDP. However, financial crisis made FOBs suffer from losses even more than non-family companies. One of the threats connected with family executing the company is decision-making process being influenced by family interests and relations. With this regard, an introduction of the outside manager and vesting him with executive power is proposed for the crisis period to maximize the effect of managerial decisions and corporate strategy. Criteria for the outside manager are similar to independent directors’ criteria.
19
Varga, Anna Róza, Norbert Sipos, Andras Rideg, and Lívia Lukovszki. "The comparison of RBV-based competitiveness of Hungarian family-owned and non-family-owned SMEs." Competitiveness Review: An International Business Journal, February 23, 2024. http://dx.doi.org/10.1108/cr-02-2023-0017.
Анотація:
Purpose The purpose of this paper is to identify the differences between Hungarian family-owned businesses (FOBs) and non-family-owned businesses (NFOBs) concerning the elements of SME competitiveness and financial performance. Design/methodology/approach The research covers the Hungarian data set of the Global Competitiveness Project (GCP, www.sme-gcp.org) of 738 (data collection between 2018 and 2020) non-listed SMEs, of which 328 were FOBs. The study uses the comprehensive, multidimensional competitiveness measurement of the GCP built on the resource-based view (RBV) and the configuration theory. Financial performance was captured with two composite indicators: short-term and long-term financial performance (LTFP). The comparative analysis between FOBs and NFOBs was conducted using binary logistic regression. Findings The results show that FOBs are more prone to focusing on local niche markets with higher longevity and LTFP than NFOBs. However, FOBs have lower innovation intensity and less organised administrative procedures. The most contradicting finding is that the FOBs’ higher LTFP is accompanied by significantly lower competitiveness than in the case of NFOBs. Originality/value This study goes beyond other GCP studies by including composite financial performance measures among the variables examined. The combination of performance-causing (resources and capabilities) and performance-representing (financial performance) variables provides a better understanding of the non-listed SMEs in terms of family ownership. The results help academia to enrich the RBV-competitiveness, the non-listed SME management and finance literature, and policymakers to design business development and support schemes. They also show future entrepreneurs the impact of family ownership on entrepreneurial success.
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Mehreen Waheed, Dr. Abdul Rashid Kausar, and Dr. Yasir Rashid. "EXPLORING THE ROLE OF AGILE OPERANT RESOURCES IN FACILITATION OF BUSINESS MODEL INNOVATION: CASE OF FAMILYOWNED BUSINESSES IN PAKISTAN." International Journal of Management Research and Emerging Sciences 11, no. 3 (September 1, 2021). http://dx.doi.org/10.56536/ijmres.v11i3.150.
Анотація:
Resources act as the armaments for innovation in today’s volatile business world where catering competitiveness has become the biggest challenge. To the best of the author's knowledge, no study has been done specifically in the context of Family-Owned Businesses (FOBs) in Pakistan regarding the owner’s possessed agile operant resources. This paper explores how agile operant resources possessed by owner of family firms facilitate business model innovation. An abductive research approach using the Gioia methodology has been used to develop broader themes for discussion. Purposive sampling is used for data collection; while conducting interviews through open-ended questionnaires of family owners. Finding depicts that agile entrepreneurial phronesis and agile structure approach are two operant resources possessed by family owners that facilitate in business model innovation. The authors have proposed a conceptual model that highlights on the pertinence of agile operant resource which drives the Family firm’s competitive performance. This study proposes a framework for FOBs operating in Pakistan by providing novel insights for establishing competitive firm performance. Each FOB may adapt these resources to ensure business model innovation. It also opens new avenues of innovation and growth for FOBs by determining the primitive significant role of FOB Owners Operant Resources. This study can be applied to all FOBs
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Agyenim-Boateng, Cletus, Sulemana Iddrisu, and James Otieku. "Blending traditionalism with legalism: a typology of understanding corporate governance systems in Ghanaian Family-owned businesses (FOBs) from a Bourdieusian perspective." Journal of Family Business Management, September 14, 2022. http://dx.doi.org/10.1108/jfbm-07-2022-0096.
Анотація:
PurposeThis paper aims to examine the nature of corporate governance systems in Ghanaian Family-owned Businesses (FOBs). Specifically, the study investigates the nature of boardroom decisions structures, sources of governance regulations and family roles in corporate governance.Design/methodology/approachDrawing on Bourdieusian perspectives of the field, capital, habitus and doxa, a case study design is used to gather detailed insights about the phenomena. Purposively, the study conducts 20 interviews with participants from 15 FOBs in Ghana. The interview data are complemented with secondary sources, such as FOB handbooks, website information, legal documents and scriptures. Subsequently, data gathered were thematically analysed.FindingsThe study finds that human actors blended traditionally tacit and legally expressed boardroom decisions structures in FOBs governance. Again, traditional values, social acceptance of religious sociology and regulatory frameworks of the field dictate corporate governance practices in FOBs. In multiple family ownerships, orthodoxy of doxa is challenged; hence, power struggles and family roles in governance depend on capital possessed by social actors.Practical implicationsTo continue as a going concern, FOBs must be mindful of traditional, religious sociology of family and regulatory frameworks within the field in which they operate. This is because, without this, the going concern of FOBs becomes suspicious and highly unlikely, especially where there are multiple family ownership and generations.Originality/valueThe previous literature predominantly focussed on formal boardroom structures in addressing FOBs' corporate governance issues. Notwithstanding, family governance risk of domineering and distrust associated with traditional and relational governance mechanisms remain under-represented and inconclusive, especially in Sub-Saharan Africa.
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Waheed, Mehreen, Abdul Rashid Kausar, and Syed Ahmad Ali. "Configuration of Agile Operant Resources in Family Firms Through Stakeholders Partnership." Global Business Review, August 21, 2023. http://dx.doi.org/10.1177/09721509231160876.
Анотація:
Family firms are often recognized as wealthy in resources, especially in operant resources. These resources are hidden and play a phenomenal role in sustainable development. Fewer studies are available to spotlight the role of operant resources. This study aims to surface the magnificent hidden role of agile operant resources that facilitate the diverse needs of stakeholders in family firms. Data for this study were collected using in-depth interviews with complementary observations. Almost 29 interviews were considered with the owners of family firms from Pakistan. Interviews were translated and transcribed. Gioia Methodology is used to develop broader themes for discussion in terms of first-order concepts, themes and aggregate dimension that explained the mystical hidden role of agile operant resources in family firms. Research findings portrayed that Collaborative Capability, Reputational Resources, Religious Resources and Relationship Proneness are the agile operant resources which strengthen stakeholder’s partnership in family businesses. The authors proposed a conceptual model for highlighting the pertinent role of agile operant resources that facilitate stakeholder partnership in family-owned businesses (FOBs). Recent study provides the conceptual framework to academia for future research in the literature of family firms. FOBs may adopt all these agile operant resources to cater firm diverse stakeholder partnerships in today’s business world. It will open new avenues of growth and innovation for FOBs. This research can apply to all FOBs.
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Butt, Mehreen Waheed, Abdul Rashid Kausar, and Yasir Rashid. "Exploring the Role of Agile Operant Resources in the Facilitation of Strategic Orientation: The Case of Family-owned Businesses in Pakistan." Global Business Review, November 17, 2021, 097215092110534. http://dx.doi.org/10.1177/09721509211053499.
Анотація:
Purpose: No one can deny the pertinent role of resources in each era. Over time, its usefulness enhances, which facilitates firm sustainability in today’s volatile business world. To the best of the author’s knowledge, no study has been done specifically in the context of Family-Owned Businesses (FOBs) in Pakistan regarding the owner’s ability to possess agile operant resources. The purpose of this study is to explore the hidden agile operant resources of the family business owners which facilitate FOBs in strategic orientation. Design/Methodology/Approach: This study resides in a relativistic school of thought based on the interpretive paradigm. It is used as an exemplar of the nature of research. Purposive sampling is used for data collection. Interviews were conducted through open-ended questionnaires and observation of family owners. This study is based on the abductive research approach, which along with Gioia methodology, has been used to develop broader themes for discussion. Findings: This research article provides sound conceptual insights on the strategic orientation of family firms through the pertinent role of learning and observational resources, agile entrepreneurial phronesis and agile sensing skills. The authors proposed a conceptual model for shedding light on the pertinent role of agile operant resource supports to facilitate the strategic orientation of FOBs. Practical implications: This study proposes a framework for FOBs operating in Pakistan by providing novel insights for establishing sustainable firm performance by indicating the pertinence of agile operant resources. FOBs may adopt these agile operant resources to ensure firm strategic orientation in today’s dynamic business world. It also opens new avenues of innovation and growth for FOBs by determining the primitive, significant role of individual FOB owners operant resources. This study can apply to all FOBs. Originality value: In this research, the authors have discussed the iterative themes interactions and their significant role in the context of family firms to understand how learning and observational resources, agile sensing skills and agile entrepreneurial phronesis strengthen firm strategic orientation that drives firm sustainable performance in today’s competitive business world. As Pakistan, like other Asian countries, is considered fertile land for family businesses, such studies can enrich insights through surfacing the FOB owner-possessed resources-based framework and how it supports catering to effective strategic orientation.
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Smulowitz, Stephen J., Didier Cossin, Alfredo De Massis, and Hongze (Abraham) Lu. "Wrongdoing in Publicly Listed Family- and Nonfamily-Owned Firms: A Behavioral Perspective." Entrepreneurship Theory and Practice, January 13, 2023, 104225872211422. http://dx.doi.org/10.1177/10422587221142230.
Анотація:
We integrate research on family-owned firms (FOFs) and the Behavioral Theory of the Firm (BTOF) to study wrongdoing—a specific dimension of corporate social responsibility (CSR) associated with destructive risk—in family- versus nonfamily-owned firms (NFOFs). We argue that FOFs are likely to respond differently from NFOFs to risks because in addition to concern for economic costs and benefits, FOFs are uniquely concerned with the socioemotional wealth (SEW) accruing from the noneconomic costs and benefits of their actions. Furthermore, we argue that the differences in behavior are dependent upon whether the nature of risk associated with a behavior is destructive, as in the case of wrongdoing, versus productive, as in the case of other previously examined behaviors such as research and development [R&D] investment, diversification, or internationalization. Our analyses, based on 17,022 observations from a sample of 1,900 publicly traded U.S. firms from 1999 to 2016, provide robust empirical support for these predictions, showing that FOFs commit less wrongdoing than their nonfamily counterparts and respond to performance relative to aspirations regarding wrongdoing in a way that varies from their responses regarding other behaviors examined in prior studies. We thereby advance the literatures on BTOF and FOFs by explaining how family owners’ decisions change depending on the type of risk associated with their behavior— destructive versus productive, and by integrating the additional aspiration related to SEW into BTOF predictions to tell a more complete story of organizational wrongdoing from the BTOF perspective. By focusing on wrongdoing as a specific dimension of CSR, our findings also have implications for CSR research as they show that the relative importance of social responsibilities shifts according to the type of risks (and trade-offs) associated with those responsibilities.