scholarly journals MOST COMMON COGNITIVE BIAS IN FAMILY BUSINESS MANAGEMENT

2017 ◽  
Vol 5 ◽  
pp. 433-436
Author(s):  
Yolanda Saldaña ◽  
Fernando Miguel Ruiz ◽  
Laura Leticia Gaona ◽  
Juan JesĂşs Nahuat ◽  
Kelly Alejandra Muñoz
Keyword(s):  
Family Structure ◽  
Family Business ◽  
Cognitive Bias ◽  
Cognitive Biases ◽  
Research Study ◽  
Business Management ◽  
Business Managers ◽  
Two Systems ◽  
Business Family

Due to the interaction of two incompatible systems: family and business, family business managers may have cognitive biases that result in an ineffective management. Therefore, the objective of this research study was to identify and determine the most common biases in the management of a family structure business. A documentary investigation was carried out with the purpose of compiling in a single document such biases. The analysis made it possible to conclude that the identified biases arise precisely from the interaction and incompatibility of these two systems; and that the absence of knowledge on the part of the business family and of directors of familiar companies of the presence of these biases impacts the permanence and consolidation of the familiar company.

scholarly journals Estrategias para una sucesión exitosa en la empresa familiar

2017 ◽  
Vol 4 (8) ◽  
Author(s):  
M. E. García
Keyword(s):  
Family Business ◽  
Point Of View ◽  
Business Manager ◽  
Business Managers ◽  
Open Communication ◽  
Compensation Management ◽  
The Family ◽  
Power Change ◽  
Business Family ◽  
Partial Retirement

Key words: Family business, family counsoul, partial retirement, succession in family businessAbstract. This study has the objective to propose a group of strategies to help the Family Business Manager to solve the succession problems; by using these strategies the family business can conquer a transition power that creates the most wealth posible to the business and to the familiy. This study is presented as a descrptive research, with basis on the most recently research about succession problems on family business. The Familiy Business Managers who want that business still belongs to familiy have the obligation of developing asuccession plan that allows the company continue being competitive when family business manager leaves the company. The strategies included in this study must be promoted by the Family Business Manager who must take care of leading the directive team to sucessuful power change. The strategies proposed in this study are: Creating a Family Business Conseil; Choosing the succesor from an analitical point of view; Get pschicologist support in the succesion period; To create a Business Society; Partial Retirement of Director; Anadequate compensation management; Open communication among all the members; and a provisional management.Palabras Claves: Consejo familiar, empresa familiar, retiro parcial, sucesión en la empresa familiarResumen. El objetivo del estudio es proponer un conjunto de estrategias para ayudar a los Directores de Empresas Familiares a solucionar los problemas relacionados con la sucesión. Mediante el uso de estas estrategias clave las empresas familiares pueden lograr una transición de poder que genere la mayor riqueza posible para el negocio y para la familia. El presente estudio se plantea como una investigación de carácter descriptiva, basada en las investigaciones mas recientes sobre la problemática de la sucesión en la empresa familiar.Los Directores de las Empresas Familiares que desean que el negocio siga perteneciendo a la familia tienen la obligación de desarrollar un plan de sucesión que permita a la organización seguir siendo competitiva cuando el Director abandone la empresa. Las estrategias presentadas en este estudio deben ser promovidas por el Director de la Empresa Familiar quien debe encargarse de dirigir a su equipo directivo rumbo al éxito en la transición  de poder. Las estrategias propuestas en este estudio son: La creación de un Consejo Familiar; la elección analítica del sucesor; solicitar asesoría psicológica durante el periodo de sucesión; la formación de una Sociedad de Negocio; el Retiro Parcial del Director; un manejo adecuado de las compensaciones; la implementación de una estructura de comunicación abierta y la planeación de una administración interina. 

scholarly journals Professionalism and Family Business Management The Synergy Leading towards Business Excellence

2019 ◽  
Vol 8 (2) ◽  
pp. 6549-6553
Keyword(s):  
Family Business ◽  
Analytical Approach ◽  
Business Management ◽  
Business Owners ◽  
Family Businesses ◽  
Business Managers ◽  
Business Excellence ◽  
The Family ◽  
Domain Expertise

If family businesses are praised for the expertise with technology and deeper knowledge about the markets, they are criticized for lack of professionalism in management. Business excellence models demand professionalism and strong leadership with a systematic analytical approach to business. This article posits that if family business owners can adopt professionalism they in fact would be in a commanding position in their business. They can forge a synergy, leveraging their domain expertise with the help of a professional approach and achieve sustained business excellence. The article evaluates this possibility of the family business owners-cum-managers adopting professionalism in order to achieve business excellence. It is based on a survey of 400 family business managers and this article presents the results of the survey that gathered relevant inputs in line with the objectives framed for the study.

Cognitive Bias in Intelligence Analysis

2020 ◽  
Author(s):  
Martha Whitesmith
Keyword(s):  
Social Sciences ◽  
Cognitive Bias ◽  
Cognitive Biases ◽  
Risk Mitigation ◽  
Meta Analysis ◽  
Intelligence Analysis ◽  
Experimental Setting ◽  
Alternative Approach ◽  
The Social ◽  
Underlying Causes

Belief, Bias and Intelligence outlines an approach for reducing the risk of cognitive biases impacting intelligence analysis that draws from experimental research in the social sciences. It critiques the reliance of Western intelligence agencies on the use of a method for intelligence analysis developed by the CIA in the 1990’s, the Analysis of Competing Hypotheses (ACH). The book shows that the theoretical basis of the ACH method is significantly flawed, and that there is no empirical basis for the use of ACH in mitigating cognitive biases. It puts ACH to the test in an experimental setting against two key cognitive biases with unique empirical research facilitated by UK’s Professional Heads of Intelligence Analysis unit at the Cabinet Office, includes meta-analysis into which analytical factors increase and reduce the risk of cognitive bias and recommends an alternative approach to risk mitigation for intelligence communities. Finally, it proposes alternative models for explaining the underlying causes of cognitive biases, challenging current leading theories in the social sciences.

Succession and Governance Across Generations: A Comparative Study of the United States and Italy

1999 ◽  
Vol 2 (2) ◽  
pp. 47-56
Author(s):  
Alberto Zanzi ◽  
Colette Dumas
Keyword(s):  
United States ◽  
Comparative Study ◽  
Family Business ◽  
Business Management ◽  
The United States ◽  
Italian Family ◽  
Management Succession ◽  
Key Aspects ◽  
The Impact

This comparative study of American and Italian family-owned firms focuses on two key aspects of family business management: succession and governance. This study also explored the impact of generation on these variables.

Professional Management in Family Businesses: Toward an Extended Understanding

2008 ◽  
Vol 21 (1) ◽  
pp. 51-69 ◽  
Author(s):  
Annika Hall ◽  
Mattias Nordqvist
Keyword(s):  
Cultural Competence ◽  
Family Business ◽  
Cultural Theory ◽  
Business Management ◽  
Family Businesses ◽  
Business Research ◽  
Dominant Meaning ◽  
Case Research ◽  
Professional Management ◽  
Family Membership

Our purpose is to challenge the dominant meaning of professional management in family business research and to suggest an extended understanding of the concept. Based on a review of selected literature on professional management and with insights from cultural theory and symbolic interactionism, we draw on interpretive case research to argue that professional family business management rests on two competencies, formal and cultural, of which only the former is explicitly recognized in current family business literature. We elaborate on the meanings and implications of cultural competence and argue that without it a CEO of a family business is likely to work less effectively, no matter how good the formal qualifications and irrespective of family membership.

scholarly journals Impact of Gender, Age and Management Style on the Success of Family Business in Kosovo

2019 ◽  
Vol 8 (5) ◽  
pp. 153
Author(s):  
Rifat Hoxha ◽  
Hamdi Hoti
Keyword(s):  
Developing Countries ◽  
Economic Development ◽  
Family Business ◽  
Business Management ◽  
Female Gender ◽  
Doctoral Dissertation ◽  
Family Businesses ◽  
Management Style ◽  
Raising Awareness ◽  
And Performance

Family business is the most contributing category in the economic development of all countries. Both Developed and Developing Countries and Less Developed Family Business plays an important role in reducing unemployment and is a catalyst for developing creative ideas and innovations in all business activities. In this paper we will address some of the characteristics of managers of this business category, such as their gender, age, and style of management, and their impact on the development and growth of these businesses' performance. The paper is part of the survey conducted by the survey of over 300 family businesses in Kosovo and was used by the author for the preparation of doctoral dissertation. This paper is fulfill from the survey which is realized with professors of Economic field in University of Prizren “Ukshin HOTI” in Prizren. From those finding results of research we give some modest recommendations and it’s more raising awareness especially business management from female gender as an opportunity to duplicate the potential for a development and performance of those business. This is based on the fact that the more thought we have, the more ideas come about how we can manage a family business with contemporary style, without a gender or age complex, which can guarantee success not only in our country , but to become competitive and penetrate the markets of the most developed countries.Keywords: Family business, Gender, Age, Management style

scholarly journals Celebrity Couples as Business Families: A Social Network Perspective

2021 ◽  
pp. 089448652110503
Author(s):  
Yasaman Gorji ◽  
Michael Carney ◽  
Rajshree Prakash
Keyword(s):  
Social Networks ◽  
Social Relationships ◽  
Family Business ◽  
Economic Capital ◽  
The Family ◽  
Hollywood Movies ◽  
Career Performance ◽  
Business Family ◽  
Production Industry

We depict Hollywood celebrity couples as business families who participate in the project-based movie production industry, which is a temporary and disaggregated form of organization where skilled individuals are linked to one another through contractual and social relationships. Appearing in Hollywood movies generates celebrity capital, which can be converted into economic capital through involvement in endorsements and other rent-generating activities. Finding projects is facilitated by membership in high-quality social networks, and we consider celebrity marriage as a means of merging two individuals’ social networks, which can be mutually beneficial for both parties. We develop and test three hypotheses about the quality of social networks prior to and after marriage and analyze their impact upon celebrities’ postmarriage career performance. We contribute to the family business literature by exploring hybridized and adaptive forms of business family in contemporary project industries, which has the potential to enlarge family business scholars’ research horizons.

scholarly journals Emotional information-processing correlates of mental health in adolescence: A network analysis approach

2019 ◽  
Author(s):  
Sam Parsons ◽  
Charlotte Booth ◽  
Annabel Songco ◽  
Elaine Fox
Keyword(s):  
Mental Health ◽  
Information Processing ◽  
Cognitive Bias ◽  
Cognitive Biases ◽  
Positive Mental Health ◽  
Emotional Information ◽  
Interpretation Biases ◽  
Model Complex ◽  
Health Related ◽  
Emotional Information Processing

The Combined Cognitive Bias Hypothesis proposes that emotional information processing biases associate with each other and may interact to conjointly influence mental health. Yet, little is known about the interrelationships amongst cognitive biases, particularly in adolescence. We used data from the CogBIAS longitudinal study (Booth et al. 2017), including 451 adolescents who completed measures of interpretation bias, memory bias, and a validated measure of general mental health in a typical population. We used a moderated network modelling approach to examine positive mental health related moderation of the cognitive bias network. Mental health was directly connected to positive and negative memory biases, and positive interpretation biases, but not negative interpretation biases. Further, we observed some mental health related moderation of the network structure. Network connectivity decreased with higher positive mental health scores. Network approaches allow us to model complex relationships amongst cognitive biases and develop novel hypotheses for future research.

Gender in family business management: a multinational analysis

2012 ◽  
Vol 2 (2) ◽  
pp. 110-129 ◽  
Author(s):  
Matthew C. Sonfield ◽  
Robert N. Lussier
Keyword(s):  
Family Business ◽  
Business Management
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