Sustainability in family business: Mechanisms, technologies and business models for achieving economic prosperity, environmental quality and social equity

2022 ◽  
Vol 176 ◽  
pp. 121450
Author(s):  
Thomas Clauß ◽  
Sascha Kraus ◽  
Paul Jones
Keyword(s):  
Family Business ◽  
Environmental Quality ◽  
Business Models ◽  
Social Equity ◽  
Economic Prosperity

Innovative drivers for family business models in tourism

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Gabriella Arcese ◽  
Marco Valeri ◽  
Stefano Poponi ◽  
Grazia Chiara Elmo
Keyword(s):  
Literature Review ◽  
Business Model ◽  
Family Business ◽  
Systematic Literature Review ◽  
Business Models ◽  
Extensive Literature ◽  
Family Needs ◽  
Content Type ◽  
Tourism Sector ◽  
Innovation Dynamics

PurposeThe aim of this paper is to verify whether, in the tourism sector, the “family business model” is an important development opportunity and, in particular, if it is an innovation driver for this industry development. In the literature, there is no conclusive evidence of this for the tourism sector. In this context, the authors investigate personal and family needs and preferences alongside the relationship between family business model, growth and profit maximization and the development of tourism businesses through innovation drivers.Design/methodology/approachTo develop this topic, the authors conducted an extensive literature review considering the scientific papers published and contained mainly in database in the last 10 years (2010–2020) and focused the attention on the last five years. The authors ran content and structural analysis on the collected sources by main scientific databases (EBSCO, Scopus, Thomson Reuter, etc.). Based on a systematic literature review, the analysis was conducted using statistical criteria and bibliometric indicators. In detail, the authors used systematic literature review, bibliometric analysis and automatic text analysis (ATA) tools for identified lexicon analysis and strategic keywords and used statistical correlation to classify the different approaches in the literature and to outline the orientations of the various research groups.FindingsFrom this analysis, the correlation between tourism, hospitality, entrepreneurship, life cycle and innovation dynamics was analysed. Important research gaps are identified, and future research priorities are suggested. Implications for both family business and tourism theory are discussed.Originality/valueWhile the intersection between tourism management and family business model has been established in the literature, the number of related publications is still limited. Against this background, a literature review as a total analysis was an adequate and practicable research methodology. This paper proposes a comprehensive literature review and a reflection on the potential developments and applications for family business in the tourism sector. Authors also suggest several research directions that have not been adequately investigated yet. In particular, scholars do not seem to have caught all the implications of innovation adoption, especially for SMEs and family ownerships in tourism.

Family business models

2010 ◽  
Author(s):  
Alberto Gimeno ◽  
Gemma Baulenas ◽  
Joan Coma-Cros
Keyword(s):  
Family Business ◽  
Business Models

Soliton Technologies – financing growth in uncertain times

2012 ◽  
Vol 2 (6) ◽  
pp. 1-18
Author(s):  
Rajan A. Thillai
Keyword(s):  
Venture Capital ◽  
Learning Outcomes ◽  
Family Business ◽  
Private Equity ◽  
Business Models ◽  
Global Financial Crisis ◽  
Early Stage ◽  
The United States ◽  
Subject Area ◽  
Content Type

Subject area Venture capital and private equity. Study level/applicability This case is suitable for II MBA/Executive MBA (venture capital and private equity/entrepreneurship/business models/managing family business) courses. Case overview Soliton is a technology and software services company with operations in India and the USA providing machine vision products and virtual instrumentation services. Soliton was started by Ganesh Devaraj in 1998 after his return from the United States after higher studies. Ganesh hails from a business family in Coimbatore that had interests in the textile spinning sector. The family had been in the textile business since the early 1940s and had revenues of Rs 400 million and employed about 700 people. Ganesh, not wanting to continue in the traditional family business, ventured into the technology sector using his academic and professional experience. His family was supportive of his venture and funded his company for the first two years of operation and for scaling up operations. Ganesh is now evaluating various sources of raising additional capital at a time when there was general slowdown in the automobile sector as a result of the global financial crisis. Expected learning outcomes The goal of this case study is to illustrate the complexities that exist in financing growth of companies in uncertain times. This following are the expected learning outcomes: discuss and understand the nuances between different sources of early stage funding: personal wealth, family, and angels; compare and contrast the differences between family funding and venture funding; and highlight the benefits and limitations of family funding. Supplementary materials Teaching notes are available.

The Association among Corporate Governance, Corruption, and Economic Prosperity in the Socialist Republic of Vietnam

2019 ◽  
Vol 0 (0) ◽  
Author(s):  
Marius Gros ◽  
Tobias Henke
Keyword(s):  
Corporate Governance ◽  
Business Models ◽  
Developed Countries ◽  
Foreign Direct Investments ◽  
Economic Prosperity ◽  
Socialist Republic ◽  
Domestic Firms ◽  
Country Level ◽  
Stable Conditions ◽  
Oecd Principles

Abstract The OECD considers compliance with the OECD principles of corporate governance and reduced corruption to be positively associated with economic prosperity. Prior empirical research supports this notion for developed countries. However, findings for developing and emerging countries are more diverse, as some studies document an “East Asia paradox” and link higher levels of corruption with positive outcomes at the firm or country level. Our case study on the Socialist Republic of Vietnam contributes to the literature by identifying determinants of these mixed findings. Relying on triangulation, our results suggest that internationalizing and international firms must adhere to OECD expectations to prosper, while domestic firms prefer operating in corrupt but stable conditions. Due to this mechanism, noncompliance with OECD principles and corruption can deter foreign direct investments and thus negatively influence economic growth. Nevertheless, noncompliance with OECD principles and corruption can still work to benefit domestic firms. Given our results for Vietnam, we argue that the internationalization of the business models of the firms analyzed might explain the prior inconclusive empirical findings.

scholarly journals The Importance of the Governance Role in Achieving Stability and Sustainability in Family Business Companies Through Generations

2021 ◽  
Vol 7 (3) ◽  
pp. 16
Author(s):  
Samir A. Abdelaziz
Keyword(s):  
Corporate Governance ◽  
Family Business ◽  
Global Economy ◽  
Business Models ◽  
Good Governance ◽  
Business Owners ◽  
Family Businesses ◽  
Governance Risk ◽  
The Relationship

Family businesses have continued to draw researchers' attention due to their strategies while making sustainable decisions. Notably, these business models deserve more recognition in this discourse, considering that they contribute up to 70% of the global Domestic Product. This article focuses on some drivers to sustainable decisions revolving around three pillars: environmental, social, and economic. The author's aim in this context is to provide a statistical model that could be used to forecast revenue trends to establish if family businesses are poised for sustainability or not. The models essentially allow for an analysis of the relationship between family businesses' internal drivers with corresponding financial objectives.However, these business models may fail to achieve their objectives if they do not embrace good governance, allowing them to react to challenges. Corporate governance is an essential framework that companies use to reconcile individual, community, business owners, and shareholders' interests in a dynamic global economy. Companies that align with the principles of good governance are more likely to remain sustainable, stable, and profitable. In retrospect, business enterprises that ignore the provisions of corporate governance risk facing uncertainties, most notably, dissolution and bankruptcy. The second, third, and subsequent generations fail to internalize and advance the founder's long-term organizational goals.This study adds to the existing literature on economic sustainability of family businesses characterized by market value and higher revenue generation.

Airport Expansion and Endangered Bats: Development and Mitigation Actions Near the Indianapolis International Airport

2018 ◽  
Vol 2672 (29) ◽  
pp. 12-22
Author(s):  
Timothy J. Divoll ◽  
Joy M. O’Keefe
Keyword(s):  
Land Cover ◽  
Business Models ◽  
Mitigation Measures ◽  
Economic Prosperity ◽  
Myotis Sodalis ◽  
Term Study ◽  
International Airport ◽  
Long Term Study ◽  
Foraging Ranges

Economic prosperity and globalization are major drivers for development of international airports, but aviation-oriented businesses and residential developments are a by-product of airport business models. Among the multitude of planning and development considerations is the habitat needs of endangered wildlife species. Foraging data were analyzed from 57 bats during three time periods (1998–1999: pre-mitigation; 2005–2006: during mitigation, and 2014–2016: post-mitigation) of a long-term study of Indiana bats ( Myotis sodalis) near the Indianapolis International Airport. At this site, both developed land cover and forested land cover increased between 1998 and 2016 (34.1% and 3.3%, respectively). Mitigation actions included converting 323 ha of residential lots back to forest, and creation of a 56 ha wetland and an 85 ha multi-use park. Bat use of landscape cover types was related to changes in land cover during each period and competing hypotheses were compared to explain changes in bat foraging space use. With the addition of a major highway interchange where the colony foraged, bats increased foraging ranges, presumable in search of new habitat. In all periods, bats selected for forested habitat; as trees in replanted forest and designated parks aged, bats reduced their foraging ranges. Restoring hardwood forest and setting aside parklands were effective proactive mitigation measures for the colony of Indiana bats near the Indianapolis International Airport, and similar actions should benefit other wildlife where human development and habitat needs intersect.

scholarly journals An Integrative Conceptual Framework for Sustainable Successions in Family Businesses: The Case of Taiwan

2018 ◽  
Vol 10 (10) ◽  
pp. 3656 ◽  
Author(s):  
Jau Liu
Keyword(s):  
Family Business ◽  
Business Models ◽  
Family Relationship ◽  
Family Businesses ◽  
Factors Affecting ◽  
Complex Decision Making ◽  
Complex Decision ◽  
Business Succession ◽  
Relationship Of ◽  
Succession In Family Business

Family businesses have long been one of the mainstream business models in developing countries. The smooth succession of control in family businesses is the key to their sustainable development. However, compared with other companies, succession in family business has demonstrated unique complexity, which also affects the development of the business. The paper is based on a review of the existing literature, starting from the theory of family business succession and combining with grounded theory. After that, we conducted field interviews of experts, coding the key factors affecting succession in family businesses in Taiwan. Finally, we explored the considerations and implications of the succession for inheritance planning. The results of this study show that consideration of succession in family businesses involves a multi-dimensional and complex decision-making process. Among the key considerations, it is found that corporate characteristics, family capital and niche inheritance are the most important without consideration of whether the continuation of the business after succession will be doomed to failure. In addition, the family relationship of affection and trust and commitment between both predecessor and successor are important factors that cannot be ignored, especially in a rapidly changing competitive market environment.

Factors Affecting Corporate Sustainable Development: The Case of Indian Cement Sector

Think India ◽  
2018 ◽  
Vol 21 (1) ◽  
pp. 32-40
Author(s):  
Mihir Dash
Keyword(s):  
Sustainable Development ◽  
Social Equity ◽  
Environmental Issues ◽  
Capital Intensity ◽  
Business Environment ◽  
Cement Industry ◽  
Economic Prosperity ◽  
Factors Affecting ◽  
Media Attention ◽  
Environmental Integrity

The increased awareness of contemporary consumers towards environmental issues has led to a proliferation of regulations that companies must comply with. In such a dynamic business environment, companies must look beyond the profit-maximisation paradigm, and move towards a sustainable development model for their survival in the long run. The concept of corporate sustainable development (CSD) encompasses the dimensions of environmental integrity, social equity, and economic prosperity. The present study analyses the extent of CSD and its driving factors in the Indian cement industry. The study finds that CSD has been increasing in importance in the Indian cement sector, in terms of increased emphasis on environmental integrity and on economic prosperity. However, there is no significant change in emphasis on social equity, particularly in large companies, though profitability does not play much of a role. The study also finds that media exposure related to environmental issues and liquidity was the significant determinant of CSD in the Indian cement sector. Each CSD dimension was found to have distinct determinants: environmental integrity was determined by incurrence of fines/penalties/court cases; economic prosperity by media attention and liquidity; and social equity by diversity of exposure, media attention, and capital intensity.

scholarly journals Interactions between Democracy and Environmental Quality: Toward a More Nuanced Understanding

2019 ◽  
Vol 11 (6) ◽  
pp. 1728 ◽  
Author(s):  
Katarzyna Iwińska ◽  
Athanasios Kampas ◽  
Kerry Longhurst
Keyword(s):  
Environmental Quality ◽  
Empirical Studies ◽  
Main Argument ◽  
Economic Prosperity ◽  
Government Effectiveness ◽  
Democratic Regimes ◽  
Nuanced Understanding ◽  
The Relationship ◽  
Intervening Factors ◽  
Insight Into

This paper seeks to contribute to existing debates on the relationship between democracy and environmental quality. More specifically, we aim to provide nuance and insight into the question as to whether democratic regimes are better equipped to protect the environment. After critically reviewing theoretical arguments and providing an overview of existing empirical studies, the paper proposes an approach which consists of the use of non-parametric correlations between democracy and environmental quality, and a consideration of the interactions between democracy, government effectiveness, economic prosperity, and perceptions of corruption. Crucially, we show that, although a positive correlation can be found between levels of democracy and environmental quality, the picture is somewhat blurred if data are stratified using criteria such as government effectiveness and corruption perceptions. Consequently, the main argument the paper pursues is that, to assess the relationship between democracy and environmental quality, intervening factors and their effects need to be acknowledged and taken into account.

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