scholarly journals The Reciprocal Involvement of Family Business Owners and Communities in Business Success

2020 ◽  
Vol 12 (10) ◽  
pp. 4048
Author(s):  
Jennifer Johnson Jorgensen ◽  
Diane Masuo ◽  
Linda Manikowske ◽  
Yoon Lee
Keyword(s):  
Survey Data ◽  
Family Business ◽  
Business Owners ◽  
Business Success ◽  
Community Sustainability ◽  
Community Members ◽  
Business Outcomes ◽  
Rare Group ◽  
Over Time

It is believed that highly involved business owners and community members will yield benefits to ensure business and community sustainability over time. However, little research has delved into understanding the role of business owners’ involvement and the community’s involvement in business outcomes. Thus, the purpose of this study was to investigate the reciprocal involvement of family business owners and the community. To investigate this phenomenon, this study utilized survey data from a rare group of business owners who currently operate long-standing businesses. Results indicate that more involved business owners perceived higher levels of business success. When seeking a profit, business owners also tended to be more involved in the community than owners not seeking a profit. However, family-owned businesses felt that the community did not contribute to their businesses and did not stay involved over time. Overall, business owners felt that they contributed more than the community provided in return. Recommendation is made to stress in entrepreneurship curricula the importance of reciprocal involvement between businesses and their communities and vice versa to promote business and community sustainability over time.

Deep Knowledge as the Core of Sustainable Societies

2010 ◽  
pp. 141-161 ◽  
Author(s):  
Alex Bennet ◽  
David Bennet
Keyword(s):  
Social Health ◽  
Community Sustainability ◽  
Community Members ◽  
Attractor Network ◽  
Social Communities ◽  
Deep Knowledge ◽  
The Core ◽  
Knowledge Based ◽  
Sustainable Societies

Knowledge-based social communities are critical to sustain economic levels and quality environments for community members. The pace of change, rising uncertainty, exponentially increasing complexity and the resulting anxiety (CUCA) have made competition among nations, cities and communities greater and more fierce. As economies look from industry to knowledge for their prime income generator, the role of knowledge and its supporting infrastructure become critical to economic and social health. In this chapter the authors focus on what deep knowledge is and the environment needed to maximize its contribution to the health and growth of societies. They also introduce knowledge attractor network teams as sources of power for community sustainability.

scholarly journals Governance: Role Of Boards In Women Owned Businesses

2011 ◽  
Vol 4 (6) ◽  
Author(s):  
M. Tony Bledsoe ◽  
Susan B. Wessels
Keyword(s):  
Gross Domestic Product ◽  
Family Business ◽  
Work Force ◽  
Critical Issue ◽  
Business Owners ◽  
Font Size ◽  
Women Business Owners ◽  
University Of Wisconsin ◽  
The University

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman;">According to Astrachan, et al.<span style="mso-spacerun: yes;">&nbsp; </span>(2003), family businesses &ldquo;generate no less than 64 percent of USA gross domestic product, and &hellip; employ a whopping 62 percent of the nation&rsquo;s work force.&rdquo; While the economic impact is evident, the state of governance may not be so apparent. In light of this information, two questions bearing examination are: (1) Is governance a critical issue for family owned businesses; (2) If so, how may these firms address these questions? Researchers at the University of Wisconsin, Oshkosh developed and administered a survey to collect data about family business boards. A companion study, with its focus on women business owners, was conducted by Meredith College researchers. This paper compares and reports the results.</span></span></p>

The determinants of family business owners’ intrafamily succession intention

2016 ◽  
Vol 10 (4) ◽  
pp. 710-725 ◽  
Author(s):  
Yonglong Zhou ◽  
Qiongjing Hu ◽  
Jingjing Yao ◽  
Xin Qin
Keyword(s):  
Survey Data ◽  
Family Business ◽  
Design Methodology ◽  
Family Firms ◽  
Business Owners ◽  
Content Type ◽  
Family Control ◽  
Positive Effects ◽  
Micro Level ◽  
Positive Effect

Purpose The purpose of this paper is to explore the determinants of family business owners’ intrafamily succession intention based on the theory of planned behavior and neo-institutional theory. Design/methodology/approach National survey data were collected from Chinese private firms in 2010, and a sample of 804 family firms was used to test the hypotheses. Findings At the micro level, familism, intrafamily succession regulation and family control have positive effects on owners’ intrafamily succession intention. At the macro level, district succession orientation, which is the district prevalence of intrafamily succession practice, has a positive effect on owners’ intrafamily succession intention. Additionally, the district succession orientation weakens the positive effects of intrafamily succession regulation and family control. Originality/value The paper contributes to the understanding of family business owners’ intrafamily succession intention from both micro and macro perspectives. Besides, it also contributes to the integration of micro and macro research by examining the interaction effects.

All work and no play: A text analysis

2019 ◽  
Vol 61 (3) ◽  
pp. 236-251 ◽  
Author(s):  
Kate Downer ◽  
Chrissie Wells ◽  
Charlotte Crichton
Keyword(s):  
Natural Language ◽  
Survey Data ◽  
Text Analysis ◽  
Market Research ◽  
Human Error ◽  
Automated Analysis ◽  
Text Analytics ◽  
Scalar Data ◽  
Over Time

Automated analysis of open-ended text survey data is an appealing prospect. It eliminates human error and human variability and can be used to create models that are easier to update over time than a manual approach to coding generally yields. Today, text analytics is a huge business and is among the most popular innovations within the current research landscape. However, within the research industry, there has been little change in usage in recent years, and awareness of the options available appears to be limited. We wished to look more closely at the true strengths of different approaches, the main barriers to their adoption, and how these might be overcome. Using text responses from a short survey about work and play in two markets, we contrasted two tools in analyzing the output: Q’s text analysis component and Google Cloud Natural Language. We chose these tools as they can each be easily applied to survey data but are based on different analytic principles. We found some surprising differences between the output of the two tools and between the text analysis metrics and scalar data. We conclude by discussing some of the key contemporary themes in text analytics and the likely future role of this method within market research and insight.

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.

Does family capital outweigh the negative effects of conflict on firm performance?

2014 ◽  
Vol 4 (1) ◽  
pp. 46-61 ◽  
Author(s):  
Mark L. Hoelscher
Keyword(s):  
Competitive Advantage ◽  
Family Business ◽  
Business Performance ◽  
Task Conflict ◽  
Business Success ◽  
Content Type ◽  
Business Outcomes ◽  
Sustained Competitive Advantage ◽  
Family Capital ◽  
The Relationship

Purpose – Scholars have articulated the importance of family capital for successful family business outcomes. In the review of literature, empirical evidence supporting this assertion has been lacking. The purpose of this paper is to offer an empirical study of the relationship between family capital and family business success as well as the moderating effects of conflict to this relationship. Design/methodology/approach – Hierarchical regression was used in this study. Using a sample of 299 firms the author investigates the relationship between family capital and family business performance as well as the moderating role of conflict on this relationship. Findings – Results support the notion that family capital is a significant predictor of family business performance. Furthermore, the author finds that task conflict moderates the relationship between family capital and family business performance, while relational conflict has no impact on performance. Practical implications – The revelation that family capital can lead to a sustained competitive advantage makes the decision to support and nurture it much easier. Also, family capital appears to compensate for ineffective levels of task conflict. Finally, family capital shows much promise in being that rare, valuable, inimitable, and unsubstitutable resource that leads to sustained competitive advantage. Originality/value – This research begins the empirical validation process for the theoretical construct family capital as well as exploring the moderating relationship of conflict.

scholarly journals Indirect reciprocity with private, noisy, and incomplete information

2018 ◽  
Vol 115 (48) ◽  
pp. 12241-12246 ◽  
Author(s):  
Christian Hilbe ◽  
Laura Schmid ◽  
Josef Tkadlec ◽  
Krishnendu Chatterjee ◽  
Martin A. Nowak
Keyword(s):  
Information Transmission ◽  
Incomplete Information ◽  
Reliable Information ◽  
Third Party ◽  
Community Members ◽  
Indirect Reciprocity ◽  
Moral Systems ◽  
Over Time

Indirect reciprocity is a mechanism for cooperation based on shared moral systems and individual reputations. It assumes that members of a community routinely observe and assess each other and that they use this information to decide who is good or bad, and who deserves cooperation. When information is transmitted publicly, such that all community members agree on each other’s reputation, previous research has highlighted eight crucial moral systems. These “leading-eight” strategies can maintain cooperation and resist invasion by defectors. However, in real populations individuals often hold their own private views of others. Once two individuals disagree about their opinion of some third party, they may also see its subsequent actions in a different light. Their opinions may further diverge over time. Herein, we explore indirect reciprocity when information transmission is private and noisy. We find that in the presence of perception errors, most leading-eight strategies cease to be stable. Even if a leading-eight strategy evolves, cooperation rates may drop considerably when errors are common. Our research highlights the role of reliable information and synchronized reputations to maintain stable moral systems.

Emotional intelligence in family firms

2014 ◽  
Vol 4 (1) ◽  
pp. 4-23 ◽  
Author(s):  
Gonzalo Gómez Betancourt ◽  
Isabel C. Botero ◽  
Jose Bernardo Betancourt Ramirez ◽  
Maria Piedad López Vergara
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Family Members ◽  
Family Firm ◽  
Business Owners ◽  
Interpersonal Dynamics ◽  
Content Type ◽  
The Family

Purpose – Although researchers have highlighted the importance of relational and family factors for the sustainability of a family firm, there is not much empirical research exploring how emotions and the management of emotions play a role in the interpersonal dynamics of family business owners. The purpose of this paper is to explore how the way family members manage their emotions affects the interpersonal dynamics in the family, business, and ownership subsystems of a family firm. Design/methodology/approach – The paper presents an in-depth case study from a family firm in Colombia-South America. Findings – The results indicate that the capability that family members have to manage their emotions influences the interpersonal dynamics that take place in the family firm at the individual and group level. In this case, the paper found that although emotional intelligence (EI) affected interpersonal relationships in a firm, this effect was based on the individual's willingness to use their EI capabilities, previous history between people, and the goals individuals have within each subsystem in a family firm. The paper also found that interpersonal dynamics, in turn, influence how family members work together. Research limitations/implications – Because this study uses an in-depth case study, the intention of the paper is to provide an initial picture of how EI can play a role in the interpersonal interactions between family business owners. The authors hope that this study can be used as a building block to enhance the understanding of the role of EI in family firms. Practical implications – EI represents an individual's capability to perceive, understand, manage, and regulate self and other's emotions. For family firms, this means that family business owners can use this capability to determine how to enact their roles in the family firm and how to interact with other to ensure harmony in their relationships. Originality/value – This paper builds on previous work on emotions in family firms to explore the role of EI in family firms, and provides an empirical exploration of the role of management of emotions in family firms.

A Resource-Based View and Market Orientation Theory Examination of the Role of “Familiness” in Family Business Success

2007 ◽  
Vol 20 (1) ◽  
pp. 17-31 ◽  
Author(s):  
John Tokarczyk ◽  
Eric Hansen ◽  
Mark Green ◽  
Jon Down
Keyword(s):  
Competitive Advantage ◽  
Market Orientation ◽  
Family Business ◽  
Family Relationships ◽  
Customer Orientation ◽  
Business Success ◽  
Competitive Advantages ◽  
Resource Based View ◽  
Case Based

This article considers the familiness construct within the resource-based view of the firm by examining the manner in which intangible and other unique resources translate into competitive advantages held by family businesses. Specifically, this article, through a case-based approach, questions whether the familiness qualities of a firm contribute to actualization of an effective market orientation thereby constituting a competitive advantage. Analysis of multiple interviews from family owners and managers suggests that familiness qualities, including, but not limited to, strategic focus, customer orientation, family relationships, and operational efficiency, do contribute to a propensity for execution of an effective market orientation.

What Is Happening to Caste? A View from Some North Indian Villages

2003 ◽  
Vol 62 (4) ◽  
pp. 1171-1193 ◽  
Author(s):  
Anirudh Krishna
Keyword(s):  
Survey Data ◽  
National Level ◽  
Building Blocks ◽  
Considerable Change ◽  
Political Organization ◽  
Community Leaders ◽  
Indian Politics ◽  
Political Outcomes ◽  
Over Time

The role of caste in indian politics is undergoing considerable change. Caste and patron-client links have been regarded traditionally as the building blocks of political organization in India (Brass 1994; Manor 1997; Migdal 1988; Kothari 1988; Weiner 1967), and vertical and horizontal mobilizations by patrons and caste leaders, respectively, have been important influences on political outcomes (Rudolph and Rudolph 1967). There are indications, however, that the influence of patronage and caste might have declined considerably in recent years:[National-level] survey data reveal some important facts that run counter to the conventional wisdom on voter behavior. … In 1996, 75 percent of the sample said they were not guided by anyone in their voting decision. … Of the 25 percent who sought advice, only 7 percent sought it from caste and community leaders … that is, less than 2 percent of the electorate got direct advice on how to vote from caste and community leaders. … The most important survey data show the change over time. In 1971, 51 percent of the respondents agreed that it was “important to vote the way your caste/community does” (30 percent disagreed), but in 1996 the percentages were reversed: 51 percent disagreed with that statement (29 percent agreed). … In 1998, “caste and community” was seen as an issue by only 5.5 percent of the respondents in one poll … and [it] ranked last of nine issues in another. All the evidence points to the fact that these respondents are correct: members of particular castes … can be found voting for every party. … It is less and less true that knowing the caste of a voter lets you reliably predict the party he or she will vote for.(Oldenburg 1999, 13–15, emphasis in original)

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