Chapter 3. Compromiso: The Family Commitment

2019 ◽  
pp. 65-110
Keyword(s):  
Family Commitment ◽  
The Family

Socioemotional wealth and family commitment

2019 ◽  
Vol 9 (4) ◽  
pp. 393-415 ◽  
Author(s):  
Mohammad Rezaur Razzak ◽  
Raida Abu Bakar ◽  
Norizah Mustamil
Keyword(s):  
Social Ties ◽  
Family Members ◽  
Family Firm ◽  
Subsequent Generation ◽  
Socioemotional Wealth ◽  
Content Type ◽  
Family Commitment ◽  
The Family ◽  
Fiber Dimensions ◽  
Conceptual Link

Purpose The purpose of this paper is to determine the elements of family-centric non-economic goals, such as socioemotional wealth (SEW) of family business owners, that drive family commitment. The empirical study further tests whether such relationships are impacted by the aspect of ownership, that is, who controls the firm: founder generation or subsequent generation of owner managers. Design/methodology/approach Deploying the SEW and stakeholder theories, this study proposes a conceptual link between soecioemotional wealth dimensions and family commitment. The study is based on a survey of 357 private family firms in Bangladesh involved in manufacturing ready-made garments. The respondents are all in senior-level management positions in their respective firms and are members of the dominant owning family. Findings Prior to considering the moderating effect of controlling generation, the results indicate that four out of five FIBER dimensions of SEW affect family commitment, except for binding social ties. The study also finds that when a comparison is made between the founder generation and the subsequent generation of family firm managers, it is the latter that manifests significantly higher levels of family commitment when the focus is on the two FIBER dimensions of SEW: binding social ties and identification of family members with the firm. Research limitations/implications Although the cross-sectional nature of the study exposes the study to the specter of common method bias, procedural remedies were initiated to minimize the likelihood. Furthermore, data were collected from a single key informant in each organization. Therefore, both a longitudinal study and corroborating data from more than one individual in each firm would possibly provide a more robust picture. Practical implications Key decision makers from within the family who wish to see their subsequent generation remain engaged and committed to the family firm may find cues from the fact that focusing on binding social ties and identification of family members with the firm play an important role in ensuring continued commitment to the business by their successors. Social implications Family businesses are recognized to be vital contributors to most societies around the globe, both as employment generators as well as catalysts of economic activities. Hence, policy makers may derive pertinent information from the study in adopting policies to nurture and ensure survival and continuity of family-owned businesses, by understanding how family-centric non-economic goals impact family’s desire to commit resources, time and effort to the enterprise from generation to generation. Originality/value Determining the factors that drive continued engagement and commitment of family members to the business enterprise is a phenomenon that needs to be better understood in order to ensure continuity and survival of family enterprises across generations. This study attempts to provide a more nuanced understanding of how different components of family-centric goals, such as SEW, impact family commitment. The study contributes to theory building by providing a conceptual link that demonstrates the components of SEW that are most pertinent in terms of ensuring higher levels of family commitment to the family-owned business.

scholarly journals Family business exit and private equity investment decisions: Governance implications for value creation

2012 ◽  
Vol 10 (1) ◽  
pp. 464-484 ◽  
Author(s):  
Paolo Di Toma ◽  
Stefano Montanari
Keyword(s):  
Family Business ◽  
Value Creation ◽  
Private Equity ◽  
Family Firms ◽  
Organizational Capabilities ◽  
Current Debate ◽  
Governance Mechanism ◽  
Family Commitment ◽  
The Family ◽  
Generational Succession

This paper was motivated by the increasing interest in the current debate for the entrepreneurial process in family firms. Little research to date has investigated the family business exit and this topic is mainly considered as a failure for entrepreneurial families. However, when uncertainties arise concerning generational succession, the family business exit may enable ownership transitions facilitating survival and long term value creation strategies. Among the exit options, a private equity buyout may balance the family’s wealth protection and the firm’s future growth. However, which family specific characteristics and strategic needs may affect the exit option still remains a neglected topic. Based on recent research addressing entrepreneurship in family firms and corporate governance literature, this paper develops a case study for investigating the bridging role of private equity buyout for going through strategic transitions in family firms. Findings suggest that a private equity buyout is a governance mechanism which may sustain an entrepreneurial transition by realigning family interests and goals. It may also allow the family commitment for improving organizational capabilities required by an entrepreneurial transition.

scholarly journals Family influence on internationalization: an analysis of risk acceptance

2018 ◽  
Vol 22 (1) ◽  
pp. 8
Author(s):  
Waldir Goede ◽  
Dinorá Eliete Floriani ◽  
Ademir Furtado Filho
Keyword(s):  
Family Business ◽  
Secondary Data ◽  
Family Influence ◽  
Primary Data ◽  
Longitudinal Case Study ◽  
Family Commitment ◽  
The Family ◽  
Risk Acceptance ◽  
Depth Interviews

This article aims to contribute to the literature on family business (FBs), particularly from the perspective of commitment and influence of family on the FB internationalization regarding risk acceptance. Qualitative in nature, the study involved the use of a single longitudinal case study, based on in-depth interviews, storytelling and secondary data. Primary data were collected through semi-structured personal interviews with the company’s board chairman and vice-chairman, commercial director, European director and export manager; and secondary data were obtained using documental and scientific sources. It could be seen that family commitment and ownership influenced the internationalization process due to the proactivity of its European descendant founders, and particularly because in this company studied the process was initiated by a non-family member. However, family participation encourages risk acceptance, since the attachment to the family business creates an eagerness for growth. The findings corroborate the characteristics proposed by the Uppsala School, which claims that internationalization occurs in an unplanned, opportunistic manner, following sequential phases, through incremental learning and via the establishment of networks.

scholarly journals The Resilience of Families with Cerebral Palsy Children: Implications for Social Protection

2021 ◽  
Vol 5 (1) ◽  
pp. 163-184
Author(s):  
Dwi Amalia Chandra Sekar ◽  
Isbandi Rukminto Adi ◽  
Rizky Putri Rachmawati
Keyword(s):  
Cerebral Palsy ◽  
Protective Factor ◽  
Social Protection ◽  
Physical Violence ◽  
Extended Family ◽  
Emotional Climate ◽  
Friendship Groups ◽  
Family Commitment ◽  
The Family ◽  
Children With Cerebral Palsy

There are generally agreed by both professional workers and laymen that the resilience of families is influenced by emotional climate of the family. This study aims to provide an overview of resilience in families with children who have cerebral palsy, who attend YPAC (Foundation for Disabled Children), which is the only centre for cerebral palsy services in Jakarta. Qualitative research was used to analyse a case study featuring three (3) separate families, with each family having two (2) children with cerebral palsy. The result of this study describes the Family Resilience by looking at risk factors and protective factors in families with Cerebral Palsy children and all their limitations. Risk factor is the condition of the informant, who has insufficient and unstable income. On the other hand, family members also receive discrimination regularly, and even experienced physical violence. Meanwhile, protective factor is a source of strength from their personality or values of each member of the family, commitment, and support from the surrounding environments, such as extended family, friendship groups, neighbours, and institutions. Social support becomes a source of strength for the family and keeps their fight with their children with cerebral palsy. Apart from internal factors, their relation to their environment also supports the family’s resilience.

Family commitment and performance in private family firms: moderating effect of professionalization

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mohammad Rezaur Razzak ◽  
Suaad Jassem ◽  
Alima Akter ◽  
Syed Abdulla Al Mamun
Keyword(s):  
Firm Performance ◽  
Family Firms ◽  
Equation Modeling ◽  
Single Individual ◽  
Content Type ◽  
Family Commitment ◽  
Family Enterprises ◽  
The Family ◽  
The Impact ◽  
Privately Held

PurposeThe purpose of this research is to examine the interplay between family commitment as a family-centric resource and professionalization of the organization as a firm-centric resource to determine how the two phenomenon come together to enhance business performance in the context of privately held family firms.Design/methodology/approachDeploying the theoretical lens offered by the resource-based view, a conceptual link is developed between family commitment to the firm and firm performance with the potential moderating influence of firm professionalization. The hypotheses are tested using data collected from 357 privately held medium-to-large family-owned manufacturing companies in Bangladesh. The data are analyzed through structural equation modeling using SmartPLS (v.3.2).FindingsThe data analysis suggests that in absence of the moderator; professionalization, family commitment has a positive and significant association with firm performance. While in the presence of the moderator the above relationship is substantially stronger. The findings indicate that when family-specific resources and firm-specific resources are synchronized, it enhances performance of the family firm and puts it on a strong economic footing toward a more sustainable future.Research limitations/implicationsCross-sectional nature of the study exposes it to the specter of common method bias despite the fact that procedural remedies were initiated to minimize the impact of such occurrence. Furthermore, data were collected from a single individual in each organization. Therefore, a longitudinal study with data obtained from multiple individuals at different levels of the organization would possibly yield more robust findings.Practical implicationsLeaders of family firms may find pertinent clues from the outcome of this study. Particularly, the confluence of family commitment to the firm as a family-specific resource and professionalization as a firm-specific resource can be valuable, rare, difficult to imitate and substitute source of competitive advantage for the family business organization.Social implicationsSurvival of family businesses is vital to the global economy as one of the primary drivers of global gross domestic product growth and source of new employment. Policymakers can benefit from the findings of this study to customize policies to nurture growth of family enterprises and incentivize family firms to adopt professionalization through better governance and transparent managerial procedures.Originality/valueA nuanced understanding of how family commitment and firm professionalization combine to significantly improve performance of family firms has not been dominant in the literature. Therefore, findings of this study carry special theoretical implications, because it suggests that both family-specific features and firm-specific features are necessary for enhanced levels of firm-centric business outcomes such as economic performance.

Culture of Family Commitment and Strategic Flexibility: The Moderating Effect of Stewardship

2008 ◽  
Vol 32 (6) ◽  
pp. 1035-1054 ◽  
Author(s):  
Shaker A. Zahra ◽  
James C. Hayton ◽  
Donald O. Neubaum ◽  
Clay Dibrell ◽  
Justin Craig
Keyword(s):  
Organizational Culture ◽  
Competitive Advantage ◽  
Family Firms ◽  
Moderating Effect ◽  
Competitive Environment ◽  
Strategic Flexibility ◽  
Family Commitment ◽  
Competitive Environments ◽  
The Family ◽  
Using Data

The ability of family firms to identify and respond to changes in their external environments can be a key source of competitive advantage leading to success and survival. Some research, however, has suggested family firms are conservative and often lack the ability to adapt to their changing competitive environments. Using data from 248 family firms, we found a family firm's culture of commitment to the business is positively associated with its strategic flexibility—the ability to pursue new opportunities and respond to threats in the competitive environment. Further, we found stewardship–oriented organizational culture positively moderated the family commitment–strategic flexibility relationship.

Triassic sponges (Sphinctozoa) from Hells Canyon, Oregon

1988 ◽  
Vol 62 (03) ◽  
pp. 419-423 ◽  
Author(s):  
Baba Senowbari-Daryan ◽  
George D. Stanley
Keyword(s):  
Endemic Species ◽  
Upper Triassic ◽  
Island Arc ◽  
Tropical Island ◽  
The Family ◽  
Wallowa Terrane ◽  
Unique Condition ◽  
Hells Canyon

Two Upper Triassic sphinctozoan sponges of the family Sebargasiidae were recovered from silicified residues collected in Hells Canyon, Oregon. These sponges areAmblysiphonellacf.A. steinmanni(Haas), known from the Tethys region, andColospongia whalenin. sp., an endemic species. The latter sponge was placed in the superfamily Porata by Seilacher (1962). The presence of well-preserved cribrate plates in this sponge, in addition to pores of the chamber walls, is a unique condition never before reported in any porate sphinctozoans. Aporate counterparts known primarily from the Triassic Alps have similar cribrate plates but lack the pores in the chamber walls. The sponges from Hells Canyon are associated with abundant bivalves and corals of marked Tethyan affinities and come from a displaced terrane known as the Wallowa Terrane. It was a tropical island arc, suspected to have paleogeographic relationships with Wrangellia; however, these sponges have not yet been found in any other Cordilleran terrane.

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