An entrepreneurial migrant family: The rise of Aw Boon Haw’s business empire in the Asia-Pacific

2020 ◽  
Vol 29 (2) ◽  
pp. 254-268
Author(s):  
Victor Zheng ◽  
Hao Gao
Keyword(s):  
Family Business ◽  
Family Businesses ◽  
Asia Pacific ◽  
Business Growth ◽  
Substantial Evidence ◽  
Family Control ◽  
Migrant Background ◽  
The World ◽  
Migrant Family ◽  
Migrant Entrepreneurs

This research note uses the rise of Aw Boon Haw’s dynastic family businesses across Asia to illustrate Chinese migrant entrepreneurs’ business development and dynamism. Although it is known that the management and operation of Chinese migrant family businesses do have disadvantages, there is substantial evidence that family control and network capital can facilitate their business endeavors. Through the case of the Aw family business, it was found that by using key strategies of family control and its network capital, even though their migrant background posed multi-layered disadvantages, the Aw family was able to rise from rags to riches in the medicine and newspaper businesses. Not only did their migrant background not restrict Aw family business growth, it fostered its expansion in the region and the world.

Family Business Governance

2021 ◽  
pp. 24-40
Author(s):  
Reena Agrawal ◽  
Ganga Bhavani
Keyword(s):  
Corporate Governance ◽  
Best Practices ◽  
Family Business ◽  
Family Businesses ◽  
Business Strategies ◽  
Business Organizations ◽  
Substantial Portion ◽  
Advantages And Disadvantages ◽  
The World

Corporate governance is a significant tool to build strong and long relationships among various stakeholders in kinds of business organizations. Family businesses are not an exception to this. Like any other businesses, family businesses also need to have governance in place and practice to achieve the business strategies and to have long-term succession. Family-owned businesses are the backbone of many countries' economies in the world contributing substantial portion of GDP. Considering these, it is important to know the best practices of governance in family owned business organizations and the role played by governance to improve the strengths of these businesses. The chapter throws light on family business governance and explores various important practices highlighting their advantages and disadvantages in detail.

Leadership and Religion in Family Business

2022 ◽  
pp. 861-877
Author(s):  
Allan Discua Cruz
Keyword(s):  
Family Business ◽  
Family Businesses ◽  
Entrepreneurial Leadership ◽  
Business Form ◽  
The World ◽  
Values And Beliefs

This chapter focuses on how and why entrepreneurial leadership in family businesses may be influenced by Christianity. This chapter is motivated by the need to understand further the influence that entrepreneurial leadership entails in the context of the most predominant business form around the world: family business. To contribute to understanding, this chapter offers a model to understand the nature of entrepreneurial leadership in family business influenced by the values and beliefs embedded in Christianity.

Financing Family Business: Alternatives to Selling Out or Going Public

1990 ◽  
Vol 3 (3) ◽  
pp. 225-243 ◽  
Author(s):  
Dirk R. Dreux
Keyword(s):  
Conceptual Framework ◽  
Economic System ◽  
Family Business ◽  
Capital Markets ◽  
Family Businesses ◽  
Going Public ◽  
Family Control ◽  
System A ◽  
Conflicting Objectives ◽  
The Family

Family businesses, whether private or public, constitute a major segment of the American economic system. A conceptual framework, from a financial practitioner's perspective, is presented for simplifying the conflicting objectives of the business and its shareholders with respect to the fundamental issues of control, liquidity, and capital. The investment objectives and criteria of capital markets participants are profiled, as well as various financial alternatives available to the family business, in particular, strategies that favor family control. The investment banker's role as both a capital markets intermediary and financial adviser is also discussed.

Data Analytics

2020 ◽  
pp. 344-361
Author(s):  
Manuel Alejandro Morales-Serazzi ◽  
Oscar González-Benito ◽  
Mercedes Martos-Partal
Keyword(s):  
Decision Making ◽  
Family Business ◽  
Data Analytics ◽  
Family Firms ◽  
Quality Information ◽  
Success Factor ◽  
Key Factors ◽  
Business Growth ◽  
The Family ◽  
The World

The growing proliferation of data in firms around the world have made analytics a success factor for business growth, and by default, achieving greater performance. This research proposes a data analytics model for marketing decision making. Literature was reviewed, and several key factors for the growth of the family business were identified. In addition, 140 marketing managers from family and non-family firms in Spain were surveyed. Four key factors were identified to implement a data analytics project. An empirical model is presented, which allows visualizing the relationships that generate quality information. Data analytics is a competitive advantage for recognized firms in the world; however, there is an underutilization of information by the family business. This chapter allows reducing the gap between competitors, regardless of their ownership structure. Therefore, it declares a challenge and an opportunity for the family firm.

A Conceptual Study on Nepotism and Effects in Family Enterprises

2017 ◽  
Vol 3 (1) ◽  
pp. 59-64
Author(s):  
Derya Çevik Taşdemir ◽  
Filiz Çayırağası ◽  
Gülsüm Günbala Güven
Keyword(s):  
Family Business ◽  
Turnover Rate ◽  
Holistic Approach ◽  
Family Businesses ◽  
Business Failure ◽  
Labor Turnover ◽  
Family Enterprises ◽  
The Family ◽  
The World ◽  
Conceptual Study

An important part of the businesses in the world and in Turkey is a family business. In this context, the economy is largely dominated by family businesses. Literature studies showed that nepotic approaches are more common in family businesses than in other businesses. Nepotism, the problems that the family business has caused; non-institutionalization, increase in labor turnover rate, decrease in organizational commitment, decrease in productivity. It is directly related to the solution of nepotism problems in the family business, the increase of the market share, and the extension of the life span. This article is about nepotism and family businesses; success in family business, failure, strategy, etc. aims at conceptual evaluation of the effect in a holistic approach from the angles and within the frame of institutionalization.

scholarly journals The Role of Family in Family Firms

2006 ◽  
Vol 20 (2) ◽  
pp. 73-96 ◽  
Author(s):  
Marianne Bertrand ◽  
Antoinette Schoar
Keyword(s):  
Family Firms ◽  
Large Fraction ◽  
Family Members ◽  
Family Businesses ◽  
Family Control ◽  
The World ◽  
Overall Performance

History is replete with examples of spectacular ascents of family businesses. Yet there are also numerous accounts of family businesses brought down by bitter feuds among family members, disappointed expectations between generations, and tragic sagas of later generations unable to manage their wealth. A large fraction of businesses throughout the world are organized around families. Why are family firms so prevalent? What are the implications of family control for the governance, financing and overall performance of these businesses?

scholarly journals Impact of National Culture on Governance and Management of Family Businesses: Australia Versus India

2020 ◽  
Vol 13 (1) ◽  
pp. 73-83
Author(s):  
Sudhir H. Kalé ◽  
David Harland ◽  
Ken Moores
Keyword(s):  
National Culture ◽  
Family Business ◽  
The United States ◽  
Family Businesses ◽  
Management Style ◽  
Social Unit ◽  
Succession Management ◽  
Societal Culture ◽  
The World ◽  
The Impact

A family is the primary social unit in which individuals are born and get acclimatised to societal culture. Most researches on family businesses are derived from frameworks developed in the United States or other Western societies. The premise of this article is that the way family businesses across the world are managed will vary drastically based on the culture of the society where these businesses operate. Using Australia and India as country examples, we apply Hofstede’s six dimensions of culture to formulate illustrative propositions highlighting the impact of culture on family business governance and management. These propositions are of particular significance to human resource management across areas of both governance and management, and concern, in particular, intergenerational matters associated with succession, management style, employment and developing next-generation leaders.

scholarly journals Developing capabilities for sustainability in family owned SMEs: An emerging market scenario

2020 ◽  
Vol 9 (6) ◽  
pp. 24-36
Author(s):  
Ben Akume ◽  
Osarumwense Iguisi
Keyword(s):  
Family Business ◽  
Business Performance ◽  
Emerging Market ◽  
Family Members ◽  
Business Environment ◽  
Family Businesses ◽  
Business Success ◽  
Stewardship Theory ◽  
Family Control ◽  
Business Sustainability

The academic discourse on ‘family’ perpetuity in family-owned businesses (FOB) is still burgeoning.  Current findings suggest the importance of family control and family inter-generational sustainability in family-owned businesses. Though literature in family perpetuity and sustainability is well documented from the advanced economies, there is a scarcity of insights from emerging markets where this research relates.  The study, therefore, sought to investigate, understand and interpret the underlying drivers of sustainability in small and medium family businesses using the stewardship theory paradigm and relying on evidence from an emerging market economy the Nigerian family business environment. A qualitative method with 41 in-depth interviews involving owners and managers of family-owned small and medium businesses was conducted. The study empirically shows that there is an interrelationship between family structure and business sustainability, hence the practice of polygamy was found to be inimical to family business success and sustainability. The study also showed that the element of spirituality arising from the ideals and values of the owning family is a significant factor for ensuring family wellbeing and business sustainability, and founding owner characteristics (industry experience) and impacts positively on the business performance and continuity. The study confirmed that the stewardship of non-family member employees within the business is provisional stewardship as non-family members rely on other incentives from the owning family members to behave as stewards.  Building on the stewardship theory, the paper develops a model of sustainability for small and medium family businesses. The study contributes to the theoretical literature on stewardship and family business sustainability

scholarly journals Family Business in India: Performance, Challenges and Improvement Measures

2020 ◽  
Vol 1 (1-2) ◽  
pp. 9-30
Author(s):  
Himani Chahal ◽  
Anil K. Sharma
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Stock Exchange ◽  
Family Businesses ◽  
New Family ◽  
The World ◽  
The Status ◽  
Improvement Measures ◽  
Family Business Groups ◽  
Performance Challenges

Existing literature on family businesses brings out their significance globally. The prevalence of family businesses is a phenomenon that is universal and found in most countries worldwide, although their relative impact on economies does vary. This article reviews papers in the accounting and finance literature on family businesses around the world and shows that the involvement of family members in the business may have a positive, negative or no impact on its financial performance. In the Indian context, the literature review indicates that India’s rich and ancient history seems to be interrelated with the family-run businesses as the principal means of business organization. The paper gives a glimpse of the status of family businesses in India since independence and the distinct characteristics of Indian family businesses. In the next section, we try to find out how family firms are performing in India in comparison to non-family firms by studying companies listed in the National Stock Exchange of India Ltd. (NSE) 500 Index for a period of 5 years ranging from 2014 to 2018. The results show that family businesses are not performing significantly better than non-family firms in the Indian business scenario. We try to highlight the reasons for the same by underlining the issues faced by family businesses and suggest measures to overcome these issues. The study concludes with a discussion on the lessons that new family business ventures can take from family business groups in India that have made a mark in the Indian and the world business scenario because of their ability to face and successfully overcome challenges faced by family firms.

Leadership and Religion in Family Business

2019 ◽  
pp. 231-247
Author(s):  
Allan Discua Cruz
Keyword(s):  
Family Business ◽  
Family Businesses ◽  
Entrepreneurial Leadership ◽  
Business Form ◽  
The World ◽  
Values And Beliefs

This chapter focuses on how and why entrepreneurial leadership in family businesses may be influenced by Christianity. This chapter is motivated by the need to understand further the influence that entrepreneurial leadership entails in the context of the most predominant business form around the world: family business. To contribute to understanding, this chapter offers a model to understand the nature of entrepreneurial leadership in family business influenced by the values and beliefs embedded in Christianity.

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