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Understanding The Family Business

Author: Keanon Alderson
Publisher: Business Expert Press
ISBN: 1606491695
Size: 70.15 MB
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This book will provide readers with an introductory overview of family business, the most prevalent form of business in the world. The differences between family and non-family businesses are emphasized in this book, and there are several key audiences: As a supplemental text for university undergraduate or graduate level courses such as small business management, introduction to business, entrepreneurship, or family studies. Members of family businesses will benefit from the book as an introduction to the unique nature of family businesses. Professional advisors to family firms such as accountants, attorneys, bankers, insurance providers, and financial services professionals may develop a better understanding of their clients. Suppliers to family businesses will gain insight to this important business customer. Much of the literature on family business is from the United States; an attempt has been made to present relevant international information, as well. The authors uniquely include just how to define a family business and provide an overview of family business. They also include the many differences between a family owned business and a non-family owned business; the major family business theories; how family firms make business decisions; and effective family business governance and use of advisors and boards. This book will be a useful and much-needed tool for so many people, and the authors conclude this book with future research to advance the study of family business.

Understanding Family Businesses

Publisher: Springer Science & Business Media
ISBN: 9781461409113
Size: 63.38 MB
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Businesses owned and operated by families constitute the vast majority of firms around the world. These firms are found in all industrial segments, from retail and service establishments to heavy manufacturers. Their sizes and revenues range from the smallest venture of a husband and wife roadside food stall in rural India to the largest multinational, highly diversified corporations in the United States and Europe. Many challenges, such as competition, regulation, environmental concerns, access to capital, and macroeconomic factors confront family and nonfamily firms alike. In addition, family and closely-held firms grapple with such issues of succession, continuity, conflict resolution, identity and organizational roles, estate and financial planning that are idiosyncratic to them; when psychological, social, and emotional factors are in play, constantly changing familial relationships influence the strategic and financial choices they make. Yet, there has been comparatively little theoretical or empirical research undertaken on family firms, relative to entrepreneurship and strategic management. This book addresses gaps in the literature by presenting a holistic, multi-disciplinary approach to the study and practice of family business that draws from such fields as psychology, anthropology, sociology, strategy, family therapy, family studies, wealth management, and international business. An international array of experts addresses both macro issues (including the role of family businesses in new business creation and economic development, influences of culture on family business, public policies that can encourage or threaten family business) and firm management (strategic and financial decision making, governance, entering and exiting). Featuring case studies from firms in a variety of industries, Understanding Family Businesses not only offers provocative new insights on family business dynamics, but outlines an agenda for future research.

Understanding Family Owned Business Groups

Author: Manlio Del Giudice
Publisher: Springer
ISBN: 331942243X
Size: 17.87 MB
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This book addresses the increasing prominence of family-owned business groups and their potential to influence growth and development in the global economy. Family businesses are not necessarily converging towards unitary models of corporate governance or organizational designs, but remain heterogeneous in a global economy. Empirical evidence on the developmental effects of family-owned business groups is fragmented and inconclusive: are there tangible differences between family-owned business groups in emerging economies and developed countries? Are there important variations across and between industries? How have geopolitical circumstances shaped their activities? In this book, the author seeks alternative, pluralistic, and cross-disciplinary approaches through economic, management, and organizational perspectives. This book provides readers with a core understanding of how both corporate governance and business strategy are shaped by the institutional frameworks of markets, as well as knowledge into how institutional context shapes the governance and strategies of family business groups. It is an invaluable reference tool for scholars and students in the social sciences, as well as professionals involved in strategic management issues within a knowledge management context.

Understanding Family Firms

Author: Alan L. Carsrud
Publisher: Springer Science & Business Media
ISBN: 9781461408666
Size: 62.97 MB
Format: PDF
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Family-owned and managed firms are often beset by a variety of crises that can impact the firm’s very survival. These may include changes in technology, deaths of critical family members, competition within an industrial sector, shifts in market dynamics and product mixes, economic turmoil, political upheaval and revolution, firm growth, succession, and selecting new firm leadership. Such crises may be internal to the firm or a function of the external environment, and several may occur simultaneously; all of them contribute to a context of uncertainty, risk, and change, presenting particular challenges that are unique to family-owned businesses. This volume presents eight in-depth case studies of family-owned firms that represent a variety of industries and situations. Each case explores the dynamics of managing in chaotic environments and how family leadership responded to crises. Lessons learned from these experiences will help readers understand how to solve problems under conditions of uncertainty and how to avoid failure, when the survival of the firm is at stake. Featuring questions and learning notes designed to engage the reader directly, this volume will be a valuable resources for students and members of entrepreneurial and family-owned firms, as well as consultants, investors, and other professional advisors.

Understanding The Small Family Business

Author: Denise Fletcher
Publisher: Routledge
ISBN: 1134532245
Size: 49.47 MB
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It is estimated that family businesses comprise between 60-90 % of all firms in Europe and the United States. This book makes an important contribution to the understanding of small family firms by bringing together a number of key themes in management/organisation studies. Reviewing a range of theoretical approaches, examining key literature and drawing from an international range of primary research, it also points to the future of research in this arena, and indicates how support and policy initiatives may be directed in the future.

Deconstructing Conflict

Author: Doug Baumoel
ISBN: 9780996425605
Size: 73.98 MB
Format: PDF
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Based on the groundbreaking work of Doug Baumoel and Blair Trippe, Deconstructing Conflict helps enterprising families navigate the challenges of owning and managing together. Using The Conflict Equation methodology, the book deconstructs conflict into its component parts to arm family business stakeholders and advisors with cutting-edge thinking.

Managing Conflict In The Family Business

Author: Kent Rhodes
Publisher: Palgrave Macmillan
ISBN: 9781137274601
Size: 55.95 MB
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Managing conflict is a challenge in any business setting and yet when managed correctly, some conflicts can actually be beneficial. But knowing how to leverage conflict into an advantage is not always so immediately clear and this is particularly true within family businesses. That's because the dynamics that can produce conflict within a family simultaneously intersect with the challenges of owning and operating a business, potentially complicating both. This book will identify Family Business Conflict Archetypes (patterns), Frames, Roles, and Tactics. They are discussed with a view toward educating readers to the common conflict cycles that families running a business can encounter. Keys to effectively managing these unique conflicts and the changes they produce, are also discussed. More specifically, utilizing a mini case study approach, this book will address twelve conflicts that are common in family owned businesses, how families can spot them, and then plan for their successful and effective management in ways that simultaneously uphold the family and the business.

Understanding Entrepreneurial Family Businesses In Uncertain Environments

Author: Mattias Nordqvist
Publisher: Edward Elgar Publishing
ISBN: 1849804737
Size: 18.13 MB
Format: PDF
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This thorough volume describes and analyzes entrepreneurial family businesses in Latin American countries. The research presented here has been conducted within the Global STEP (Successful Transgenerational Entrepreneurship Practices) Project. Dealing with some of the most important opportunities and challenges that Latin American family businesses face, particular attention is given to the uncertainty that characterizes most business environments in Latin American countries. The authors argue that while uncertainty is always a central characteristic of entrepreneurial processes and activities, uncertainty is particularly pronounced for Latin American family businesses striving to grow. In addition to a comprehensive introductory chapter that outlines the book's core concepts, including transgenerational entrepreneurship, entrepreneurial orientation, resources, capabilities and uncertainty, the book describes the main characteristics of entrepreneurship and family businesses in Latin America. It also brings together a unique set of empirical case-based research papers that investigate transgenerational entrepreneurship in different Latin American family business contexts. The unique contributions found here include studies on: Hostile environments and entrepreneurial orientation The influence of culture on governance and innovativeness Governance structures and entrepreneurial performance Family conflict as a source of entrepreneurial opportunities Entrepreneurship in transgenerational processes by means of social capital Knowledge integration and entrepreneurial behavior The role of tacit knowledge in the identification of entrepreneurial opportunities Financial issues in entrepreneurial family businesses Communication during the entrance of new generations into the family business Students and scholars of entrepreneurship the world over will find much of note in this carefully researched work. So too will anyone interested in sustaining a successful transgenerational family business.

Understanding The Caribbean Enterprise

Author: Lawrence A. Nicholson
Publisher: Springer
ISBN: 1349948799
Size: 12.74 MB
Format: PDF, Mobi
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This engaging book fills a substantial gap in the understanding of Caribbean enterprises, focusing upon FOBs (family-owned businesses) about which, despite accounting for 70% of private sector employment in the region, very little is known. Concentrating on MSMEs which represent the majority of FOBs in the English-speaking Caribbean, the authors compare and contrast their experiences to those in developed countries, focusing in particular on areas such as family business succession, business financing and marketing. Understanding the Caribbean Enterprise provides context-specific lessons from a historical perspective of business and entrepreneurship, which in turn provide an understanding of the current issues facing MSMEs and FOBs in the English-speaking Caribbean.

Generation To Generation

Author: John A. Davis
Publisher: Harvard Business Press
ISBN: 1422143422
Size: 20.94 MB
Format: PDF, ePub, Docs
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Generation to Generation presents one of the first comprehensive overviews of family business as a specific organizational form. Focusing on the inevitable maturing of families and their firms over time, the authors reveal the dynamics and challenges family businesses face as they move through their life cycles. The book asks questions, such as: what is the difference between an entrepreneurial start-up and a family business, and how does one become the other? How does the meaning of the business to the family change as adults and children age? How do families move through generational changes in leadership, from anticipation to transfer, and then separation and retirement? This book is divided into three sections that present a multidimensional model of a family business. The authors use the model to explore the various stages in the family business life span and extract generalizable lessons about how family businesses should be organized.