scholarly journals PORODIČNI BIZNIS KAO RAZVOJNA ŠANSA PRIVREDE SRBIJE

2021 ◽  
Vol 9 (1) ◽  
pp. 81-87
Author(s):  
Milosav Miličković ◽  
Alshibani Warda Muftah Shafee ◽  
Miroslav Jevremović
Keyword(s):  
Family Business ◽  
Well Being ◽  
Organizational Analysis ◽  
Advantages And Disadvantages ◽  
Doing Business ◽  
What Works ◽  
The Family ◽  
The Subject ◽  
Risk Insurance ◽  
Insight Into

The family business contains certain specifics from the organizational form, financing, inheritance, risk, insurance, and others. Family business is very important because it represents a significant part of every national economy and directly affects the well-being and stability of the whole country, but there is still not enough developed awareness of its impact, so this kind of business is not sufficiently researched. That family business is not sufficiently researched is proved by the fact that in market economies there is not enough literature on this way of doing business, so stakeholders do not have insight into the opportunities it provides, as well as problems and risks that must be considered before starting a family business. The subject of this paper is precisely the origin, development, ideas, advantages, and disadvantages of the family business in general. The goal is to present this idea, which can enable a complete financial and organizational analysis of the business venture, ie what are the initial funds and what works need to be undertaken and performed to further develop the family business in Serbia and beyond.

scholarly journals Effects of Institutionalization over the Raising Values of Family-Owned Businesses and a Practice

2014 ◽  
Vol 3 (3) ◽  
pp. 77-85
Author(s):  
Sefer Gumus ◽  
Hande Gulnihal Gumus
Keyword(s):  
Family Business ◽  
Academic Language ◽  
Family Relations ◽  
Emergency Situation ◽  
Family Businesses ◽  
Theory And Practice ◽  
Advantages And Disadvantages ◽  
The Family ◽  
The Subject ◽  
Practice Knowledge

The family businesses constitute the base of global economies. They provide contributions to economy and sectors with their assets and activities. Their reaching to plan, program and objectives occur through the sharing of experience, knowledge and accumulation. Their adaptation to domestic and global markets is the characteristic separating the definition, family businesses from other businesses. In this study, the advantages and disadvantages of this situation, management forms, institutionalism concept and its stages and elements of institutionalism, institutionalism stages in family businesses, problems preventing institutionalism, institutionalism of family relations that family constitution, board of directors, family council, inheritance plan, emergency situation plan and conflict management are explained and effects of family individuals over institutionalism, the general characteristics of institutionalized family businesses are defined and a practice regarding the issue of “Institutionalism of Family Relations”, which was performed in a family business through observation, conversation and interview, which was founded in Istanbul in year 1989 and carrying activities in textile sector over shirt, short and pant manufacturing were given place.  Literature review regarding family business were performed in this study and the concepts and theoretical information related with the subject were explained and combining the theory and practice, knowledge accumulation and experience sharing through a practice performed through observation, conservation and interview made with the management of a family business were provided and they were explained in our study with an academic language.

Thomas Wallace, 1891-1965

1966 ◽  
Vol 12 ◽  
pp. 503-519
Keyword(s):  
Nineteenth Century ◽  
Family Business ◽  
Mining Activities ◽  
Agricultural Machinery ◽  
Pure Science ◽  
The Third ◽  
Farming Community ◽  
Agricultural Community ◽  
The Family ◽  
The Subject

Thomas Wallace was the eighth child of a family of nine, three sons and six daughters. His father, also Thomas, was a blacksmith and agricultural engineer carrying on a family business at Newton-on-the-Moor, near Alnwick. From the beginning of the nineteenth century the Wallace smithy had served the needs of the local farming community, shoeing their horses and mending their simple agricultural machinery. Two of Thomas Wallace’s sons showed the family bent for engineering, but the third, who bore his father’s name and who is the subject of this memoir, had, as he often said himself, no skill in engineering nor any liking for the work; his interests were in scholarship, catholic at first, but soon to be canalized in the study of pure science. Thomas Wallace senior had married Mary Thompson, also of a Northumberland country family. Before their eighth child was born on 5 September 1891 he moved to Burradon, where he expanded his business by undertaking work for the collieries. Thomas junior’s childhood was spent in his native village, where although the country was still pleasant and highly farmed, mining activities had already begun to bring about those changes which later were to take away so much of its beauty. Wallace as a boy was attracted to the farms and he spent many happy days on them, playing and watching the men at work. As he grew older he began to share in the work of haymaking and harvest. It is to this country background that can be attributed the ease with which he later became absorbed in the agricultural community he served.

Louis Hunton (1814-1838) - English Pioneer in Ammonite Biostratigraphy

1984 ◽  
Vol 3 (1) ◽  
pp. 58-68 ◽  
Author(s):  
H. Torrens ◽  
T. Getty
Keyword(s):  
Family Business ◽  
Scientific Work ◽  
North East ◽  
The North ◽  
The Family ◽  
The Subject ◽  
First Time ◽  
Practical Demonstration ◽  
Open Cast

In any discussion of the historical development of what was later to be named Biostratigraphy it is often assumed that a modern basis for the subject had already been reached by the cumulative work in the subject up to 1815; culminating in that of William Smith (1769-1839) and Alexandre Brongniart (1770-1847). But to this time fossils had only been used to identify (and discriminate between) often repetitive lithological units or to establish a relationship between rock units in different areas. The practical demonstration that particular lithological units could be regularly subdivided with significant consequences, on the basis of their contained fossils was a later achievement over several generations. One of the first to free stratigraphical palaeontology from such a lithological control was the forgotten Englishman Louis Hunton (1814-1838). In this paper Hunton's origins from a successful alum making family in the north-east of Yorkshire in the north of England and his short life and scientific work are described for the first time. The family business of alum making from the highly fossiliferous local alum shales, which were extracted open-cast, directly introduced Hunton to stratigraphical palaeontology. He followed up this work by study in London, where his pioneering paper was read to the Geological Society of London in 1836. He died less than 2 years later but had helped lay a foundation for major biostratigraphic advances by his insistence that only fossils collected in situ should be used in such work and then that the species, of especially ammonites, in his Yorkshire strata had particularly limited and invariable relative positions within that lithological sequence. His work is also compared with that of his contemporary W.C. Williamson and the conclusion reached that Hunton, because of his emphasis in the merits of ammonites, deserves more to be remembered as a pioneer of Jurassic biostratigraphy.

The Early Entrepreneurial Stage in Finnish Family and Nonfamily Firms

2000 ◽  
Vol 13 (1) ◽  
pp. 41-53 ◽  
Author(s):  
Hannu Littunen ◽  
Kimmo Hyrsky
Keyword(s):  
Family Business ◽  
Manufacturing Industry ◽  
Family Firms ◽  
Well Being ◽  
Business Owners ◽  
Strategic Choices ◽  
Business Services ◽  
Start Up ◽  
The Family ◽  
Unrealistic Expectations

This study examined factors influencing the survival and success of 200 Finnish family and nonfamily firms in the metal-based manufacturing industry and business services over the first three years of their operation. The features that this study reviewed include owner-manager personality attributes, entrepreneurial competence, and motives for the start-up. Strategic choices of the firms were also examined. The study found that family firms were better equipped to survive beyond the early entrepreneurial stage than were nonfamily businesses. The entrepreneurial abilities and resources of the family business owners enabled them to operate relatively successfully in the nearby market, often with one unique product. The family firms were more conscious of survival and family well-being than profitability or market position. A higher mortality rate was discovered among the nonfamily firms. Failed firms were often established with unrealistic expectations, and their performance deteriorated rapidly after their early success.

scholarly journals Pushing Or Pulling Of The Business By Family Members: A Study Of Family Businesses In Sri Lanka

2015 ◽  
Vol 7 (1) ◽  
pp. 121-128 ◽  
Author(s):  
Ravindra H. Kuruppuge ◽  
Aleš Gregar
Keyword(s):  
Sri Lanka ◽  
Agency Theory ◽  
Family Involvement ◽  
Family Business ◽  
Sampling Technique ◽  
Agency Cost ◽  
Family Businesses ◽  
Research Approach ◽  
Advantages And Disadvantages ◽  
The Family

AbstractA number of family business researches affirm benefits of family involvement to the business while some of other studies assure only detriments of family involvement. When comparative studies of family businesses begin to surface on the family involvement in business, there is that irritating question on what effect is brought about by family involvement to the business. Therefore, the purpose of this study is to explore business advantages and disadvantages generated by family involvement in businesses in Sri Lanka. The present study attempted to address the above knowledge gap, using qualitative research approach and multiple case studies as the strategy of inquiry. Purposive sampling technique was used to select both cases and respondents. Privately held, successfully conducted four family businesses were selected as cases and, existing business owner and one family related manager from each case were taken as respondents. Data was collected mainly via semi-structured, in depth interviews, observations, and secondary documents. Data collection from interviews consisted of 15 interviews with 09 different people from four cases. Before the data analysis, coding and categorization of respondents’ views from interviews helped to identify common patterns and themes from both within the case and across cases. The analysis was carried out in the light of Agency Theory and resulted in a rich understanding of business advantages and disadvantages of family involvement in businesses in Sri Lanka. The findings of this study indicated that the agency cost is created not only on business matters but also on family matters. Further, findings revealed that agency benefit also can be obtained by family business by handling the family matters carefully in line with business matters. Findings of this study clearly indicated that an extension to Agency Theory is required to explain owner agent relationship in family businesses.

Wellness in the Family Business

1993 ◽  
Vol 6 (2) ◽  
pp. 149-159 ◽  
Author(s):  
Suzanne Stier
Keyword(s):  
Family Business ◽  
Well Being ◽  
Business Owners ◽  
Psychological Well Being ◽  
Insurance Costs ◽  
Worker Satisfaction ◽  
The Family ◽  
Economic Well Being

This article addresses the unique opportunity that family business owners have to create worksite environments that promote wellness in employees while increasing productivity. By giving physical and psychological well-being the same importance as economic well-being, the company benefits through healthier employees, reduction of absenteeism, lower insurance costs, and increased productivity and worker satisfaction.

Family Business and Family Change: Individual Autonomy, Democratization, and the New Family Business Institutions

2000 ◽  
Vol 13 (3) ◽  
pp. 239-249 ◽  
Author(s):  
Michael Gilding
Keyword(s):  
Qualitative Study ◽  
Family Business ◽  
Family Relationships ◽  
Economic Restructuring ◽  
Family Businesses ◽  
Individual Autonomy ◽  
New Family ◽  
Australian Family ◽  
The Family ◽  
The Subject

The renewed attention to family business in western societies is usually attributed to a past lack of attention to the subject because of its private character and to the resurgence of family business in the context of economic restructuring. This paper argues that there is a third reason for the renewed attention to family business, namely, the changing character of the family institution. In particular, there are broad trends toward the pursuit of individual autonomy and democratization in family relationships. A qualitative study of high-wealth stakeholders in Australian family businesses found that the principles of individual autonomy and democratization presented challenges for family business solidarity and continuity. These challenges gave rise to new family business institutions designed to facilitate communication and trust. These institutions are at the center of the renewed attention to family business in western societies.

Entrepreneurship as Radical Change in the Family Business: Exploring the Role of Cultural Patterns

2001 ◽  
Vol 14 (3) ◽  
pp. 193-208 ◽  
Author(s):  
Annika Hall ◽  
Leif Melin ◽  
Mattias Nordqvist
Keyword(s):  
Organizational Culture ◽  
Family Business ◽  
Radical Change ◽  
Business Case ◽  
Cultural Patterns ◽  
Doing Business ◽  
The Family ◽  
Entrepreneurial Activities ◽  
The Relationship

This article explores the relationship between organizational culture and the entrepreneurial process that is viewed as radical change in the context of the family business. Drawing on results from two in-depth family business case studies, the authors develop a conceptual model for understanding organizational culture and its impact on entrepreneurial activities. The model is built around the extent to which the culture is connected to one dominant family member or several family members, the degree of cultural explicitness, and the degree of cultural openness. It is argued that whereas some cultural patterns tend to preserve the traditional way of doing business, others tend to facilitate entrepreneurial change. The conclusion is that to support entrepreneurial processes, managers need to foster a process of high-order learning in which old cultural patterns are continuously questioned and changed. To accomplish this, the organizational culture needs to be highly explicit and open.

scholarly journals Legal inheritance mechanisms for the protection a decedent's family members in Czech law

2021 ◽  
Vol 93 (4) ◽  
pp. 1063-1084
Author(s):  
Ivana Đokić
Keyword(s):  
Czech Republic ◽  
Family Members ◽  
The Czech Republic ◽  
Legal Literature ◽  
The Family ◽  
The Subject ◽  
Insight Into

The subject of the author's attention in this paper are certain regulations regarding legal inheritance in Czech law. We will try to give insight into inheritance mechanisms that are meant to protect the family members of a decedent, both through the prism of those regulations and that of Czech legal literature and the position of the highest court of the Czech Republic. We will pay special attention to the hereditary position of those subjects to which the decedent provided subsistence during his life and those persons who lived in a joint household with the decedent.

scholarly journals The Family Business as a Driver of the Social Economy: The Case of a Tourist Cooperative in Sinaloa, Mexico

2017 ◽  
Vol 8 (2) ◽  
pp. 175 ◽  
Author(s):  
Borrego A. ◽  
Ibarra-Michel J. P. ◽  
Soto-Karass J. G.
Keyword(s):  
Family Business ◽  
Qualitative Methodology ◽  
Social Economy ◽  
Well Being ◽  
Structured Interviews ◽  
Cooperative Society ◽  
The Social ◽  
The Family ◽  
Working Together

The family business in the field of social economy represents the actions and commitments it has with its members and the community, according to the philosophy and principles of the cooperative as a business organization; it also helps to strengthen its social capital and promote family integration.The objective of the study was to analyze the family business as a boost to the social economy from the organizational figure of the cooperative, taking as a case study a tourist cooperative in northern Sinaloa, Mexico. This business has more than 30 years’ operating as a cooperative society and is in its third generation, is made up of 15 members, members of the same family who in turn hold the main positions at the general assembly. The research was conducted as a case studywith a qualitative methodology approach, collecting data through observation, review of documents and semi-structured interviews to key family members.The results indicate that the family and cooperative business, share decision-making and collective well-being, promoting the social economy by working together and distributing goods fairly; allowing the continuity of the company for the next generation.

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