The Family Part of the Family Business Equation: New Challenges for the Future

1991 ◽  
Vol 4 (4) ◽  
pp. 363-366 ◽  
Author(s):  
Fredda Herz Brown
2019 ◽  
Vol X (1 (26)) ◽  
pp. 127-171
Author(s):  
Erkki Nevanpera

Th e purpose of the article is to fi nd possible prospective entrepreneurial roles and intentions of second degree students. In addition, it is being studied whether the future entrepreneurial roles and intentions of high school students are diff erent compared to the data obtained 10 years ago. Th e aim of this quantitative study is to fi nd out the following: <br/>1. What kinds of future entrepreneurial roles and intentions have second degree students now? <br/>2. What is the diff erence between the Finnish schools and the two Polish schools? <br/>3. Are there diff erences between the diff erent genders? <br/>4. What is the eff ect of role models, that is, fatherhood, motherhood and kinship / friendship with entrepreneurship? In addition, it is being studied <br/>5. Whether the future entrepreneurial roles and intentions of high school students are diff erent compared to the data obtained 10 years ago. Demographic factors include gender, school, entrepreneurial and non-entrepreneurial background, as well as entrepreneurship of a close relative / friendship circle. Th e study produces comparative data from two diff erent countries by comparing the entrepreneurial outlook. Th e material was collected in autumn 2014 by a co-meter Nevanperä (2003). Th e meter and its components have been tested several times: Nevanperä & Kansikas (2008) and (2009), Nevanperä (2014) and at the University of Eastern Finland and Vaasa In research sections C and D, a total of 39 claims (future entrepreneurial roles and intentions of students) were factored into fi ve factors to facilitate the processing of results. Th e Likert scale of 1-5 was used in the study. Th e reliables of variables (Cronbach alfas) were high except one (0.63-0.96). Th ere are a total of 324 respondents, of whom 100 are foreign. 38% of Finnish respondents are girls and 58% of foreign respondents are girls. Finnish students in the study are from 40 municipalities and cities in Finland. In the 2006-2007 survey Teuva high school had 21 respondents, Kopernikus high school 112 respondents and Evangelical high school 31 respondents. Polish students live in Cieszyn town, in southern Poland and in the surrounding Silesian province Th e study institutes are Suupohja Vocational Institute / Vocational College (92 respondents, 31% girls), Suupohja Vocational Institute / Commercial College (64 respondents, girls 47%), Suupohja Vocational Institute / Agricultural College (29 respondents, girls 18%). Teuva High School (39 respondents, 53% girls; year 2006 21 respondents, 5% girls), Polish Copernicus High School (61 respondents, 62% girls; year 2007 112, 52% girls) and Poland Evangelical High School (39 respondents, 51%; year 2007 31 respondents, 45% girls). Th e research data has been based on statistical means, deviations, meanings (variance analysis / ANOVA), linear regression analysis and t-test in University of Applied Sciences Seinäjoki. Th ere are considerable diff erences between educational institutions in attitudes towards future entrepreneurial roles and intentions. Th e future entrepreneurial roles and intentions of the Polish high school students are signifi cantly more positive than the roles and intentions of the Finnish high school students. Gender and entrepreneurship background explain most young people’s future entrepreneurial roles and intentions. Other background variables also seem to have an eff ect. Th e explanation for the family entrepreneur’s role and intention is the highest when considering the control variables. Th ese explain 19 % of the variation. Relatively, most explains the father’s entrepreneurial background and the second most gender (girl). Girls regard family business and continuing of the family business very signifi cantly less than boys. Father’s entrepreneurial attitude raises the mean very signifi cantly compared to other students. Mother’s entrepreneurial background also has an uplift ing eff ect. Subcontracting and business entrepreneurship are of interest to today’s high school students. However, there are no signifi cant diff erences between the reference years. Th e mean of family entrepreneurship in 2015 is almost signifi cantly higher than in 2006-2007. Also in the case of other analyzes, in which the results of comparisons was the data acquired in 2006-2007 and in 2015, interesting results were obtained, indicating changes that have occurred in the discussed area.


2020 ◽  
Vol 25 (1) ◽  
pp. 35-54
Author(s):  
Ondřej Hradský ◽  
Tomáš Sadílek

This article looks at the working expectations and motivations of Generation Y members working in their parents’ businesses. The goal of this article is to identify how the working expectations and motivations of Generation Y members working in their parents’ businesses differ from the working expectations and motivations of Generation Y overall. Qualitative research design and in-depth unstructured interviews with 31 respondents were used to obtain the opinions of Generation Y members working in their parents’ businesses. Three main dimensions of working motivation were surveyed: the reasons for entering a family business, what work in a family business means, and general motivation to work. The principal findings of the article are the importance of work-life balance, flexibility, the opportunity for career development and the drive to continue one’s family tradition for Generation Y members working in their parents’ businesses. A sample of respondents added that they expect to be more involved in the operation of the family business in the future. A sample of our respondents also expected to be more involved in the operation of the family business in the future.


2020 ◽  
Vol 16 (3) ◽  
pp. 289-306
Author(s):  
Rajesh Panda ◽  
Pooja Gupta ◽  
Madhvi Sethi

Theoretical basis The case discussion begins with an understanding of Davis’s three-circle model. It then leads toward the key resources and challenges, by system and development stage as given by Gersick et al. (1997). After understanding the family business system, the case delves into making the students understand the circumplex model of the marital and family system. This matrix talks about the flexibility in the business structure along with cohesion in the family unit. The case then gets into the discussion about succession and the new generation joining the family business and the conflicts that may arise due to the same. It might be imperative to bring out the different forms of conflict that may arise in the family and business system. Researchers have identified three forms of conflict – task, process and relationship (Mckee, Madden, Kellermans and Eddleston, 2014). As passing the baton would take place next for this business in the case, the current generation needs to look at the future growth strategy for the business. Here, the discussion refers to the exploitation and exploration matrix given by Bergfeld and Weber (2011). Research methodology This is a primary data case. The data has been collected from SK Enterprises. Interviews were conducted to arrive at the issues and challenges discussed in the case. Case overview/synopsis This case talks about the dilemma of a first-generation entrepreneur. Jatinder Agarwal was the owner of SK Enterprises, a light-engineering firm manufacturing bright bars, engine parts and ceiling fan shafts. He had set up the business in 1984. His brother, Ramesh was helping him in the business. The business had prospered and grown from a single product manufacturing workshop in 1984 to two factories manufacturing multiple light engineering products. In 2015, the business was doing well and both Jatinder and Ramesh were excited to involve their respective sons, Pranav and Sanidh in the business after completion of their education. The case is about the challenges faced by Jatinder and Ramesh with the entry of a new generation. Jatinder and Ramesh were working in the family business with an implied structure where the business was a sole proprietorship in the name of Jatinder but the decisions were taken by both the brothers collectively. With the entry of the new generation, Jatinder had to decide how to re-organize the business and avoid conflicts in the family. He also had to take a decision regarding the future course of strategy, which would help the business grow further. Complexity academic level This case is about the dilemmas faced by a first-generation entrepreneur. The case can be taught in an “entrepreneurship” course, in a post-graduate MBA program. This case can also be taught in a family business program as part of the course on “Understanding Family Business – Managing Paradoxes” or “Building Lasting Family Business – Synergy in Vision, Values and Strategy.” This case can also be taught as part of a “business strategy” or “human resource management” in MBA or executive MBA program in the first year.


1994 ◽  
Vol 7 (2) ◽  
pp. 199-205 ◽  
Author(s):  
Kelin E. Gersick

In keeping with the review format of this handbook, this interview feature asks three of the founders of the field to reflect on their entry into this area of work and their impressions of its development.


2019 ◽  
Vol 50 (1) ◽  
pp. 81-90
Author(s):  
Ludmiła Walaszczyk

Every year many companies disappear from the market due to the fact that there is no possibility to find the successor, who could take over the business activity. The owners do not wish to transfer their business to the heirs, not even mentioning the external successors. Thanks to the indication of needs and barriers of the family business successions, it will be possible to develop tools and services, which will improve the succession process in family companies and will help to maintain family companies in the future. In the article, the author presents the latest state of knowledge about the needs of and barriers to the succession of family businesses in the Mazovia Region in Poland. The author focuses on the results of unstructured interviews with entrepreneurs from family companies and representatives of local authorities.


Author(s):  
Bice Della Piana ◽  
Alessandra Vecchi ◽  
Vittoria Marino ◽  
Mario D'Arco

By relying on the taxonomy introduced by Kotlar and De Massis (2013), the present study proposes to investigate the dynamics and the set of goals perceived by the family members strategic for the future growth of their family business. Using an interview approach, the researchers recorded the professional stories of 15 family firm owners and managers. Through the interpretation of the narrative material emerged that the interviewees never mentioned the role that family-centred non-economic goals (i.e., ‘family harmony’, the ‘family social status’ and ‘the family identity’) plays in the performance of the family firms. Contrary, non-family non-economic goals, such as innovation and internationalisation, are considered two keys growth drivers. In particular, if both innovation and internationalisation have equal importance amongst the current goals, internationalisation assumes a greater importance in relation to the future goals of growth.   Keywords: Goal setting process; Family business; Growth Strategy; Narrative analysis


2001 ◽  
Vol 14 (4) ◽  
pp. 369-385 ◽  
Author(s):  
Paul Westhead ◽  
Marc Cowling ◽  
Carole Howorth

This study explores management and ownership imperatives facing 427 independent unquoted (i.e., nonpublic) companies in the United Kingdom. To detect real rather than sample differences, the study used a matched pairs methodology. Chi-square and student's T-tests confirmed several similarities among the 73 family companies and the comparable 73 nonfamily companies. The tenure periods of CEOs in both groups of firms before being appointed to the CEO position were similar. CEOs in family firms had not remained in this position for significantly longer periods than CEOs in nonfamily firms, and the majority of directors in family and nonfamily firms did not hold outside directorships in other companies. Several significant differences were also detected. CEOs from the kinship group owning the family business had been in the CEO position for much longer than “outside” CEOs in family firms. Furthermore, the proportion of total shares owned by directors in family firms was significantly more than the proportion owned by directors in nonfamily firms. A significantly larger proportion of nonfamily rather than family firms had employed a nonexecutive director. In concluding, it is highlighted that a firm's identification of itself as a family firm is important in defining family firms and that firms that do not currently perceive themselves to be family firms may in the future.


1994 ◽  
Vol 19 (1) ◽  
pp. 25-38 ◽  
Author(s):  
Robert H. Brockhaus

The history of entrepreneurship research offers some insights into the future of family business research. These Insights suggest possible developmental processes for the family business research field and offer opportunities for family business researchers to build upon the foundations prepared by entrepreneurship researchers. History offers cautions as well to the future and value of family business research.


2016 ◽  
Author(s):  
David Ransburg ◽  
Wendy Sage-Hayward ◽  
Amy M. Schuman

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