scholarly journals Family Cohesion as a Longevity Factor of Business with Intergenerational Transmission

2014 ◽  
Vol 15 (4) ◽  
pp. 791-819 ◽  
Author(s):  
FCO. Javier Fernández-Roca ◽  
Jesús D. López-Manjón ◽  
Fernando Gutiérrez-Hidalgo
Keyword(s):  
Intergenerational Transmission ◽  
Family Business ◽  
Family Cohesion ◽  
Business History ◽  
Intergenerational Transfer ◽  
Critical Response ◽  
Original Plan ◽  
The Family ◽  
Business Family

This article contributes to a line of research in Business History that aims to determine the factors of family business longevity in the long term with the study of individual cases. The literature has identified family cohesion as one of the essential factors for survival. Cohesion may be reinforced or broken at the time of the intergenerational transfer. This study finds that a critical response on the part of the business family to the difficulties associated with intergenerational transfer of control, including modifications to the original plan, is usually based on trust between generations. Within the business family cohesion facilitates intergenerational transfers and, consequently, allows the family to evolve and transform itself into a business dynasty.

scholarly journals GOVERNABILIDADE NA FAMÍLIA EMPRESÁRIA / GOVERNABILITY IN THE FAMILY BUSINESSES

2020 ◽  
Vol 6 (1) ◽  
Author(s):  
Jorge Rodrigues
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Research Strategy ◽  
Integrative Model ◽  
Exploratory Research ◽  
Theory Of Practice ◽  
The Family ◽  
Structured Knowledge ◽  
Business Family

O artigo pretende estabelecer o estado da arte da governabilidade na família empresária. Ao rever a literatura pertinente sobre o campo família empresária contribui-se para a construção de conhecimento organizado e estruturado, para compreender melhor os conceitos subjacentes. Prosseguiu-se uma estratégia de investigação exploratória a qual se socorreu da “teoria da prática” de Bourdieu, para que surja uma visão inovadora do que se passa no campo em análise. Este é um tema complexo e multifacetado que pretende equilibrar os poderes soberano, executivo e de fiscalização, entre a família empresária e o negócio de família. Aquele equilíbrio depende dos estádios de desenvolvimento da família e envolve as estruturas, os processos e políticas que lhe dão forma. Como principais contributos aponta-se para um conjunto de questões centradas nos relacionamentos dos vários membros da família empresária e o modo como esta está comprometida e envolvida no sucesso do negócio a longo prazo. Estas questões destinam-se a ser incluídas num modelo integrador de governabilidade, suficientemente genérico e abrangente para que possa ser aplicado a qualquer tipo de família empresária. This article aims to establish the state of the art of governability in the family business through a literature review. Carrying out an exploratory research strategy of the field of family firms and family business, based on Bourdieu's "theory of practice", it enabled us to better understand the conceptualizations of family business, its underlying concepts and or assumptions, and hence contribute to the construction of organized and structured knowledge in this field. This is a complex and multifaceted theme that aims to balance the sovereign, executive and supervisory powers between the family business and with your own business. Some of our main contributions are: that balance depends on the stages of family development and it involves the structures, processes and policies that shape it, the effect of the relationships of the several members of the family business, and its commitment and involvement in the success of the business in the long-term success. These issues are intended to be included in an integrative model of governability, sufficiently generic and comprehensive so that it can be applied to any type of business family. JEL: D21, D23, G30, L14, L20 <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0720/a.php" alt="Hit counter" /></p>

The Landscape of Family Business Outcomes

2011 ◽  
Vol 25 (1) ◽  
pp. 33-57 ◽  
Author(s):  
Andy Yu ◽  
G. T. Lumpkin ◽  
Ritch L. Sorenson ◽  
Keith H. Brigham
Keyword(s):  
Family Business ◽  
Family Dynamics ◽  
Two Dimensions ◽  
Theoretical Development ◽  
Short Term ◽  
Business Outcomes ◽  
Business Studies ◽  
The Family ◽  
Business Family

To promote theoretical development in family business research, this research identified 327 dependent/outcome variables used in 257 empirical family business studies in 1998-2009. In four studies, the authors categorized outcome variables, developed a numerical taxonomy with seven clusters (performance, strategy, social and economic impact, governance, succession, family business roles, and family dynamics) plotted along two dimensions (business–family and short-term–long-term), validated their research, and identified missing outcome variables and variables that deserve more attention. Experts agree that family business roles, succession, and family dynamics make the family business domain unique and that noneconomic performance and family-specific topics deserve more attention.

scholarly journals Celebrity Couples as Business Families: A Social Network Perspective

2021 ◽  
pp. 089448652110503
Author(s):  
Yasaman Gorji ◽  
Michael Carney ◽  
Rajshree Prakash
Keyword(s):  
Social Networks ◽  
Social Relationships ◽  
Family Business ◽  
Economic Capital ◽  
The Family ◽  
Hollywood Movies ◽  
Career Performance ◽  
Business Family ◽  
Production Industry

We depict Hollywood celebrity couples as business families who participate in the project-based movie production industry, which is a temporary and disaggregated form of organization where skilled individuals are linked to one another through contractual and social relationships. Appearing in Hollywood movies generates celebrity capital, which can be converted into economic capital through involvement in endorsements and other rent-generating activities. Finding projects is facilitated by membership in high-quality social networks, and we consider celebrity marriage as a means of merging two individuals’ social networks, which can be mutually beneficial for both parties. We develop and test three hypotheses about the quality of social networks prior to and after marriage and analyze their impact upon celebrities’ postmarriage career performance. We contribute to the family business literature by exploring hybridized and adaptive forms of business family in contemporary project industries, which has the potential to enlarge family business scholars’ research horizons.

scholarly journals Nurturing and Transferring Entrepreneurship in Thai Business Families

2018 ◽  
Vol 5 (1) ◽  
pp. 23 ◽  
Author(s):  
Rungluck Naksung ◽  
Opas Piansoongnern
Keyword(s):  
Family Business ◽  
Parental Support ◽  
Developmental Stages ◽  
Structured Interview ◽  
Business Practices ◽  
The Family ◽  
Two Factors ◽  
Parental Family ◽  
Business Family ◽  
Thai Business

This research aims (1) to investigate patterns and phenomena of entrepreneurship formation in Thai business families; (2) to investigate practices of parent (the founders/predecessors of the business family) in nurturing and transferring entrepreneurship to their family members (successors); and (3) to build a model for nurturing and transferring entrepreneurship in Thai business families. The Semi-structured interview was used for collecting data from key informants who are potential successors of Thai business families. Eighteen potential family business successors participated in the interview. The study revealed that entrepreneurship in the Thai business families has been emerged since childhood developmental stages. The key practices of the Thai business families used for creating family entrepreneurship are: (1) Parental role modeling; (2) Parental family business practices; and (3) Parental support. However, the study disclosed and indicated that the founder or predecessor should build the family infrastructure before implementing any key practices. In this regard, the intellectual and mental factors were found as key elements. According to the findings, to be effective, these two factors must be created simultaneously.

scholarly journals Advancing Tacit Knowledge: Malaysian Family SMEs in Manufacturing

2014 ◽  
Vol 13 (2) ◽  
pp. 1-24 ◽  
Author(s):  
John Lee Kean Yew ◽  
Edmund Terence Gomez
Keyword(s):  
Tacit Knowledge ◽  
Family Business ◽  
The Family ◽  
Innovative Management ◽  
Family Smes ◽  
Generational Shift ◽  
History Approach ◽  
Organizational Features ◽  
New Generation

The family business literature in developing countries suggests that their organizational features inhibit innovations that create niche products. In industrializing Malaysia, where family small- and medium-scale enterprises (SMEs) are undergoing a generational shift, there is little research on their capacity to develop the tacit knowledge of the founding generation. This assessment of 29 thriving family SMEs in plastics and food manufacturing evaluates how a new generation has nurtured innovative management, manufacturing, and marketing techniques. By adopting a business history approach that appraises the development of tacit knowledge, this study validates the need for family SMEs to institute organizational reforms to codify knowledge and therefore ensure long-term sustainability.

Choice Of Entity For The Family Business

2011 ◽  
Vol 23 (2) ◽  
Author(s):  
Martin A. Goldberg
Keyword(s):  
Family Business ◽  
Case Law ◽  
Income Taxes ◽  
Special Topic ◽  
Font Size ◽  
Tax Legislation ◽  
The Family ◽  
Different Characteristics

<p class="MsoNormal" style="text-align: justify; margin: 0in 34.2pt 0pt 0.5in;"><span style="font-size: 10pt; mso-bidi-font-size: 12.0pt;"><span style="font-family: Times New Roman;">Choice of entity has long been one of the central issues in applied business planning.<span style="mso-spacerun: yes;">&nbsp; </span>The family business often has special characteristics and needs that may differ from other businesses.<span style="mso-spacerun: yes;">&nbsp; </span>These different characteristics and needs will affect the determination of which entity is best for a particular business enterprise. To give some examples, the owners of a family business may want to maintain long-term control in the hands of one or two family members while still providing fairness for minority owners, may need to deal with attribution rules and other statutory provisions that make income tax planning more complicated, and may have the desire to take estate taxes into account as well as income taxes.<span style="mso-spacerun: yes;">&nbsp; </span>Tax legislation enacted in the years 2003 through 2006, as well as evolving case law, have made choice of entity for the family business more complicated than before, warranting a new look at this special topic.</span></span></p>

Mate Selection and Family Business Success

1999 ◽  
Vol 12 (2) ◽  
pp. 107-115 ◽  
Author(s):  
Kenneth Kaye
Keyword(s):  
Family Business ◽  
Mate Selection ◽  
Business Success ◽  
Windows Of Opportunity ◽  
Fundamental Fact ◽  
The Family

An index of a family's success is the caliber of talent it manages to attract and retain through marriage. This fundamental fact in sociology, anthropology, and history has received little attention in the family business field. Parents in Western societies have two windows of opportunity to enhance long-term family success through marriage: first, before their children reach puberty, and later, after they choose spouses for themselves.

scholarly journals Building family business identity through transgenerational narratives

2017 ◽  
Vol 30 (3) ◽  
pp. 344-356 ◽  
Author(s):  
Maria Jose Parada ◽  
Alexandra Dawson
Keyword(s):  
Family Business ◽  
Collective Identity ◽  
Content Type ◽  
Old Spanish ◽  
Socially Constructed ◽  
Organizational Resource ◽  
The Family ◽  
Narrative Method ◽  
Business Family ◽  
Empirical Material

Purpose The purpose of this paper is to understand how family businesses (FBs) build their collective identity through transgenerational narratives. The authors examine the processes through which organizational meanings are socially constructed through narratives about individuals who are closely linked to the organizations (and their family). Design/methodology/approach Based on qualitative research, the authors study a 180-year old Spanish Pharmaceutical FB. Using longitudinal data, the authors analyze the narratives of six family members and two non-family executives. The authors use open-ended questions to allow interviewees to elaborate their own stories, following previous studies using extended narratives that leave the stage to the narrator. Findings Findings based on the stories of the eight interviewees (voice) suggest that the FB identity was initiated by the founder’s way to grow the business (fictionality). In turn the family shaped the identity of the FB, being reshaped by the stories arising from next generations’ entry into the business (reflexivity). While the FB identity reflects that of the owners, this identity is enduring but dynamic (temporality), not only shaped by the business family behind, but also conditioned by the environment. Originality/value The authors contribute to the growing literature adopting a narrative method to study phenomena in FBs. Thanks to the richness of the empirical material, a narrative method is particularly suited – and novel – for understanding collective identity, a crucial organizational resource that is closely linked to leadership in the FB.

scholarly journals Training family business in undergraduate

2020 ◽  
Vol 14 (80) ◽  
pp. 113-127
Author(s):  
Yu. B. Rubin ◽  
◽  
A. Y. Pogorelova ◽  
E. V. Alekseeva ◽  
M. V. Lednev ◽  
...  
Keyword(s):  
Family Business ◽  
Professional Competencies ◽  
Professional Activity ◽  
Educational Standards ◽  
The Family ◽  
Family Entrepreneurship

In modern conditions, the development of entrepreneurship is complicated by the lack of uniform educational standards for teaching the conduct of this area of professional activity. In this regard, the article poses the issues of using a competence-based approach to training potential successors of family companies, which is significant for ensuring the success and long-term sustainability of family entrepreneurship. The authors of the article point out the need for the formation of additional professional competencies of students who have the prospect of entering the family business. Displaying the practical use of the proposed approach in the teaching of the discipline “family business” in the undergraduate University "Synergy"

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