Gender and business owner satisfaction

2019 ◽  
Vol 9 (4) ◽  
pp. 416-428 ◽  
Author(s):  
Wenxuan Li ◽  
Maria I. Marshall
Keyword(s):  
Family Business ◽  
Business Owners ◽  
Family Businesses ◽  
Medium Size ◽  
Role Satisfaction ◽  
Business Owner ◽  
Men And Women ◽  
Content Type ◽  
Factors Associated ◽  
Farm Family

Purpose The purpose of this paper is to investigate how the factors associated with role satisfaction in farm and non-farm family businesses differ by gender of the business owner. Design/methodology/approach The data used are from a 30-minute telephone survey of owners of farm and non-farm family businesses in Indiana, Illinois, Michigan and Ohio. The sample consists of 627 small- and medium-size family businesses. Three ordered probit regressions are used to analyze role satisfaction. Findings Women’s participation in management and the number of family members in management are positively associated with women’s role satisfaction, while tension from resource competition is negatively associated with role satisfaction. In contrast, men’s role satisfaction is increased through high family business functioning and profit. Practical implications There is no difference in the level of role satisfaction between men and women when one controls for the owner, family and business characteristics. However, there is a difference in the factors that drive role satisfaction between men and women. This may be driven, in part, by what their roles are vis-à-vis the financial aspects of the business. Male and female business owners seem to focus on different aspects of their family business to achieve role satisfaction. Originality/value This paper determines the impact of gender on the role satisfaction of business owners of farm and non-farm family businesses in four Midwestern states. It identifies the different factors associated with role satisfaction for female and male family business owners based on their actual roles.

Inertia as inhibiting competitiveness in Philippine family businesses

2015 ◽  
Vol 5 (2) ◽  
pp. 257-276 ◽  
Author(s):  
Andrea Santiago
Keyword(s):  
Life Cycle ◽  
Family Business ◽  
Family Members ◽  
The Philippines ◽  
Business Owners ◽  
Family Businesses ◽  
Business Failure ◽  
Content Type ◽  
Business Operations ◽  
Practical Implications

Purpose – The failure to innovate has been recognized as one of the prime causes of business failure. In addition to this, the purpose of this paper is to explore whether it is the failure to act or inertia that can also explain the inability of family businesses to move forward. Design/methodology/approach – This research documented the experiences of five family businesses in the Philippines that were unable to sustain their business operations. Only five families were identified since it was difficult to trace the business owners of businesses that failed, and once identified, not all were willing to discuss the reason for their business failure. Findings – The cases showed that business decline actually results from the failure of family members to address the challenges brought about the change in the different life cycle dimensions. In hindsight, arresting a downward trend necessitates varied strategic approaches. While some family members may felt incapable of introducing innovation in their business, the failure to act, by itself, was a guarantee of business failure. Research limitations/implications – The research was limited to five family businesses in the Philippines. It is possible that there may be many other reasons for family business failure based on the experiences of other families. Unfortunately, many business families in the Philippines are tight-lipped about failure, even if there are lessons to be learned. Practical implications – This paper brings attention to the need of family business owners to be more proactive in meeting the changing needs of their family business. Formula that worked before may not be appropriate at a different time. Originality/value – Research has shown that there are many reasons for family business failure. This paper shows the importance of transcending the feeling of inertia so that family members can be more proactive in meeting the challenges that they are bound to face as their families, their products, their businesses, and the industries they are in, move from one stage of the life cycle to another.

Immigrant family businesses: social capital, network benefits and business performance

2015 ◽  
Vol 21 (6) ◽  
pp. 842-866 ◽  
Author(s):  
Jasmine Tata ◽  
Sameer Prasad
Keyword(s):  
Social Capital ◽  
Family Business ◽  
Business Performance ◽  
Business Owners ◽  
Family Businesses ◽  
Community Capacity ◽  
Immigrant Family ◽  
Immigrant Community ◽  
Content Type ◽  
Family Capital

Purpose – The purpose of this paper is to look at immigrant family business through the framework of social capital by investigating how the social capital of immigrant family business owners helps them obtain network benefits and improve business performance. Design/methodology/approach – This paper presents an empirical investigation of 170 immigrant family business owners. The authors examine social capital as a multidimensional construct and focus on two attributes of social capital: structural embeddedness and relational embeddedness. In addition, this study examines how social capital influences business performance through the mediating effect of network benefits. Finally, the constructs of family capital and immigrant community capacity are also investigated. Findings – The results suggest that the two attributes of social capital differed in their effects on network benefits, and that network benefits mediated the influence of social capital attributes on family business performance. Specifically, relational social capital influenced access to resources and information, and structural social capital influenced access to resources. Family ties affected network benefits and business performance, and immigrant community capacity had the predicted moderating effect on the relationship between immigrant community ties and network benefits. Originality/value – This investigation has the potential to advance understanding of immigrant family businesses by assessing how the overall social capital of the family business owner influences business performance. The study also furthers the understanding of family capital and immigrant community capacity. In addition, these results serve practitioners by helping identify avenues to increase immigrant family business performance, an issue that is increasingly important today given the contribution of such businesses to the economic vitality of societies.

Women’s management practices and performance in rural female-owned family businesses

2017 ◽  
Vol 7 (2) ◽  
pp. 134-150 ◽  
Author(s):  
Whitney Peake ◽  
Maria I. Marshall
Keyword(s):  
Strategic Management ◽  
Family Business ◽  
Management Practices ◽  
Family Businesses ◽  
Management Control ◽  
Men And Women ◽  
Male And Female ◽  
Content Type ◽  
Rural Family ◽  
Business Objective

Purpose Prior research indicates that family businesses have fewer management control practices in place and are more likely to have non-economic goals for their firm. Further, researchers in this domain contend that female-controlled businesses tend to underperform compared to male-controlled businesses. The purpose of this paper is to analyze the performance effects of management controls and goals for the business across both male and female-controlled farm and rural family businesses. Design/methodology/approach The data used in the analyses are from the 2012 Intergenerational Farm and Non-Farm Family Business Survey. The sample comprises 576 small- and medium-sized rural family businesses. The authors used probit analysis to model both family business objective and subjective success for women and men. Findings The results suggest that female-controlled farm and rural family businesses do not underperform their male counterparts in terms of objective or subjective assessments of performance. The results do indicate, however, that strategic management via management control practices within the firm influence objective and subjective performance differently across male and female-controlled farm and rural family businesses. Originality/value The results provide three primary contributions to the family business literature. First, the authors determined that strategic management practices via management control mechanisms, as well as the monitoring of managers, are of significance to the objective performance (i.e. gross income) of both men and women-controlled farm and rural family businesses. Second, the authors found that communicating economic vs non-economic goals do not influence satisfaction with the firm’s performance, but do influence the probability of success for female-controlled family businesses. Finally, the authors find that when we compare male and female-controlled businesses in the same industry, while controlling for family and business factors, men and women do not differ in a statistical sense in objective or subjective performance.

Differences in management styles, levels of profitability, and performance across generations, and the development of the Family Business Success Model

2019 ◽  
Vol 32 (1) ◽  
pp. 32-50 ◽  
Author(s):  
Josiane Fahed Sreih ◽  
Robert N. Lussier ◽  
Matthew C. Sonfield
Keyword(s):  
Family Business ◽  
Financial Management ◽  
Emerging Market ◽  
Business Owners ◽  
Family Businesses ◽  
Business Success ◽  
Content Type ◽  
Success Model ◽  
The Family ◽  
Probability Of Success

Purpose The purpose of this paper is to, first, investigate the differences between generations in family businesses and, second, develop and verify the Family Business Success Model ability to improve the probability of business success measured by perceived profits, growth and meeting the owners’ expectations. Design/methodology/approach Data were collected through questionnaires and personal interviews. Overall, 98 usable questionnaires were collected for statistical analysis with a response rate of 82 percent. Findings One-way ANOVA hypotheses testing of the variables found four significant differences between generations. Regression analysis found the Family Business Success Model to be significant. Family business owners can improve the probability of success by utilizing a team-management decision-making approach, effectively handling conflict effectively, formulating specific succession plans, developing strategic plans, using sophisticated financial management methods, dealing effectively with the founder’s influence and if they seek to grow, they should consider going public. Practical implications This study provides family business owners, managers, educators and public policy makers with the means to help family businesses survive and grow effectively throughout generations by using the Family Business Success Model. In addition, this study can help consultants and advisors of family businesses to understand the differences between the first, second and third generation family businesses from a holistic perspective and help them implement the family business model. Originality/value This study contributes to the literature as one of the few studies in the Lebanese emerging market that examines how the first, second and third generations of family businesses differ. More importantly, it develops a Family Business Success Model that improves the probability of success.

scholarly journals Family across borders social capital and diaspora entrepreneurial preparedness

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Eva Karayianni ◽  
Elias Hadjielias ◽  
Loukas Glyptis
Keyword(s):  
Social Capital ◽  
Interpersonal Relationships ◽  
Family Business ◽  
Business Owners ◽  
Social Capital Theory ◽  
Business Owner ◽  
Content Type ◽  
Family Ties ◽  
The Family ◽  
Practical Implications

Purpose The purpose of this paper is to study the way in which family ties influence the entrepreneurial preparedness of the diaspora family business owner. Design/methodology/approach In-depth interviews were carried out with 15 Cypriot family business owners hosted in various countries. The paper draws on social capital theory and uses an abductive analytical approach. Findings The findings of this paper illustrate that family ties coming from the family across borders play a significant role for diaspora family business owners’ entrepreneurial preparedness. Hidden values deriving from the interpersonal relationships within the family across borders drive the diaspora family business owners to learn upon self-reflection and become entrepreneurially prepared, led by both urgency and esteem. Practical implications This study provides practical implications for the entrepreneurial preparedness of diaspora family business owners and those who wish to become family business owners in a diaspora context. Originality/value This study contributes theoretically through the conceptualization of “family across borders social capital” and “diaspora entrepreneurial preparedness”. It also contributes empirically to the fields of diaspora family business, entrepreneurial learning and diaspora entrepreneurship through new knowledge regarding the role of family across borders social capital in the entrepreneurial preparedness of the diaspora family business owner.

scholarly journals Owner-manager when death do us part – roles of a widow in sudden succession in family firms

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Hanna Almlöf ◽  
Hans Sjögren
Keyword(s):  
Family Business ◽  
Design Methodology ◽  
Family Firms ◽  
Business Owners ◽  
Family Businesses ◽  
Qualitative Approach ◽  
Psychological Ownership ◽  
Structured Interviews ◽  
Unexpected Death ◽  
Content Type

PurposeThis study sheds light on a hitherto understudied group in family business literature: widows. We explore the roles a widow may take following the unexpected death of her owner-manager spouse when she had no salient role in the business prior to the death.Design/methodology/approachWe used a qualitative approach to research, to study inductively the roles considered and taken by three widows who unexpectedly succeeded as owners of Swedish privately held family firms. We conducted semi-structured interviews with widows and children in top management.FindingsWe construct a typology of four main roles a widow can take and analyse the underlying dimensions that they represent. We also analyse to which extent the choice of role widow can be explained by psychological ownership and double-loss theory. The typology can be used as a tool for family business owners and their advisors as the basis of an open and non-prejudiced discussion of the choices available to a widow.Originality/valueWe have investigated the factors that influence a widow's decision whether to take over the business or not, as suggested in previous research by, for example, Martinez et al. (2009). We explore the roles a widow can consider and adopt. The study advances our understanding of how businesses can remain as family firms also in the event of the unexpected death of an owner-manager (De Massis et al., 2008). We hereby contribute to the literature on sudden successions and on women in family businesses.

Impact of natural disasters on New Zealand regional family businesses: perspectives of baby boomer family business owners

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Julia Yonghua Wu
Keyword(s):  
New Zealand ◽  
Natural Disasters ◽  
Baby Boomers ◽  
Family Business ◽  
Succession Planning ◽  
Baby Boomer ◽  
Business Owners ◽  
Family Businesses ◽  
Ageing Population ◽  
Content Type

Purpose This paper aims to describe what baby boomer family business owners in New Zealand perceive the implications of earthquakes on their business and succession planning. The current study focuses on how some businesses have survived significant uncontrollable contingencies, for instance, natural disasters. This paper also documents the insight of what baby boomer family business owners value in their succession planning. Design/methodology/approach Qualitative method was undertaken, comprising face-to-face in-depth interviews with 18 participants, who are baby boomers family business owners in New Zealand. Findings Driven by the unique social and political conditions in New Zealand, baby boomer family business owner’s revealed unique mind-sets and motivations that are oriented in their family value and/or the sense of self-fulfillment. As a result, they are able to adapt to uncertainties and reflect on their adaptability. Although approaching their retirement age and survived earthquakes, most interviewees neither have any urgency to establish or execute succession plans nor are they prepared for contingencies. A profitable trade sale has been identified as a preferred exit strategy. Research limitations/implications The current study is aimed to fill in the gap of exploring how some baby boomers’ family businesses in New Zealand survived deadly earthquakes and how they approach their own succession planning. Practical implications It is hoped that this research will contribute to the well-being of family businesses and be of value to practitioners who provide professional advises for family firms and those who aspire to a career in family businesses. This paper also aims to shed light on the implication of aging population and government policies on family businesses. The findings are, therefore, useful for academics, professional consultants, advisors and regulators. Originality/value However, natural disasters, social unrest and many uncontrollable events disrupt business operations and can be viewed as uncontrollable contingencies. Ageing population and generation-based similarities are also common to many countries and communities. Nonetheless, the interdisciplinary research on ageing population is scant in the context of financial planning, management accounting or taxation at the firm level. This paper also calls for more in-depth exploration on the implications of demographical factors on the organisations and their success or demise.

“We are a family firm”

2018 ◽  
Vol 8 (1) ◽  
pp. 2-21 ◽  
Author(s):  
Claudia Binz Astrachan ◽  
Isabel C. Botero
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Family Firm ◽  
Business Owners ◽  
Public Companies ◽  
Content Type ◽  
Brand Building ◽  
Depth Interview ◽  
The Family ◽  
Family Associations

Purpose Evidence suggests that some stakeholders perceive family firms as more trustworthy, responsible, and customer-oriented than public companies. To capitalize on these positive perceptions, owning families can use references about their family nature in their organizational branding and marketing efforts. However, not all family firms actively communicate their family business brand. With this in mind, the purpose of this paper is to investigate why family firms decide to promote their “family business brand” in their communication efforts toward different stakeholders. Design/methodology/approach Data for this study were collected using an in-depth interview approach from 11 Swiss and German family business owners. Interviews were transcribed and coded to identify different themes that help explain the different motives and constraints that drive their decisions to promote the “family business brand.” Findings The analyses indicate that promoting family associations in branding efforts is driven by both identity-related (i.e. pride, identification) and outcome-related (e.g. reputational advantages) motives. However, there are several constraints that may negatively affect the promotion of the family business brand in corporate communication efforts. Originality/value This paper is one of the first to explore why family businesses decide to communicate their “family business brand.” Building on the findings, the authors present a conceptual framework identifying the antecedents and possible consequences of promoting a family firm brand. This framework can help researchers and practitioners better understand how the family business nature of the brand can influence decisions about the company’s branding and marketing practices.

The innovation and internationalisation processes of family businesses

2017 ◽  
Vol 27 (2) ◽  
pp. 231-247 ◽  
Author(s):  
Vitor Braga ◽  
Aldina Correia ◽  
Alexandra Braga ◽  
Sofia Lemos
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Family Businesses ◽  
Family Management ◽  
Multivariate Statistic ◽  
Content Type ◽  
Business Innovation ◽  
The Family ◽  
Internationalisation Strategies ◽  
Innovation Processes

Purpose The success of the family firms cannot be detached from the current paradigm where, within the present economic conditions, economic agents struggle to exploit the existing opportunities and need to take into account the risks associated to the international arena and the innovation processes. The internationalisation and innovation processes may trigger resistance within family business due to their relatively higher difficulty to take risks and to invest in industries outside the scope of their original core business. Innovation and internationalisation processes become relevant strategies for the family firms’ continuity and success. In line with such fact, the aim of this paper is to contribute with insights regarding the processes of innovation and internationalisation within family businesses. In particular, this paper aims to assess the propensity of such firms to apply such strategies, to identify the particular business behaviour and to assess the extent to which the particulars of family firms may constraint or lead to the implementation of innovation policies, and thus its internationalisation. Design/methodology/approach The data were collected through questionnaires within family business aiming to understand the scope and characteristics of internationalisation and innovation processes within these firms. The 154 replies from such data collection were analysed using different multivariate statistic procedures, although this paper is based on factorial and correlation analysis. Findings The analysis of the results shows that there is an association between the processes of innovation and internationalisation within family business. In addition, the results also suggest a typology of firms regarding their innovation and internationalisation strategies and motivations. Research limitations/implications The results of this paper are, to some extent, limited because they did not allow comparing the findings with data from non-family business. However, the authors’ aim was not to distinguish family firms, but rather to characterise them. Practical implications This paper expects to contribute with lessons for the management of family business and to raise awareness of the constraints faced by family business. It is important to highlight that family business performance may be affected by a lower propensity to risk-taking attitudes, by the lack of non-family management and to the necessity of separating the family and the business in the business dimensions that the family limits the business growth. Originality/value Although there is a significant amount of the literature devoted to explore family business, innovation and internationalisation studies, very few draw on the relationship between internationalisation and innovation processes within family business. This paper explores such a relationship within a particular business context – the family dynamics that strongly affect management and business development.

Institutional complexity and family business development: a case study of the Charoen Pokphand group

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Bo Wang ◽  
Qiang Liang ◽  
Lihong Song ◽  
Erming Xu
Keyword(s):  
Family Business ◽  
Family Values ◽  
Family Businesses ◽  
Chinese Family ◽  
Overseas Chinese ◽  
Institutional Complexity ◽  
Content Type ◽  
Equal Importance ◽  
Decision Making Processes ◽  
Dominant Period

Purpose With features of both “family” and “business,” family businesses must seek a balance between the emotional aspect of “family” and the economic aspect of “business” in its organizational and decision-making processes to ensure the sustainability of the family’s entrepreneurship. This study aims to focus on how internal institutional complexity combined evolves alongside the growth of the family business. Design/methodology/approach The research looks, from the perspective of institutional logic, into the Charoen Pokphand Group, which is an epitome of overseas Chinese family businesses and proceeds to build a model of family business growth in the context of institutional complexity. Findings The research finds that as a family business grows, institutional complexity inside the organization would change from aligned period to sustaining period and then to dominant period. Then further elucidates the process of proactive response in different stages of the development of a family business. Attaching equal importance to the cultivation of entrepreneurship and to the continuation of family values and culture is the crucial mechanism by which Chinese family businesses seek a balance between family logic and business logic. Originality/value This paper unveils the change of institutional complexity in the evolution of family businesses and the process of action of its agency as an organization, and simultaneously partly reveals the features of entrepreneurship that overseas Chinese family businesses have as they grew, which is of positive significance for exploring and building a path of growth unique to Chinese family businesses.

Sign in / Sign up

Export Citation Format

Share Document