scholarly journals LABORATORIOS SENOSIAIN S.A. DE C.V. Primero la Familia y Después el Negocio

1992 ◽  
pp. 73-83
Author(s):  
Emilio L. Espinosa Gamboa ◽  
Keyword(s):  
Family Business ◽  
Business Strategy ◽  
Historical Development ◽  
Family Businesses ◽  
Next Generation ◽  
Future Thinking ◽  
Three Generations ◽  
Definition Of ◽  
A Company ◽  
Pharmaceutical Laboratories

The present case is about the evolution of a family business whose beginning dates back to the early XX century. Having been a modest provincial pharmacy, over the years it became one of the most important pharmaceutical laboratories in Mexico. The main objective of the case is to detect the business strategy that has prevailed in each of the stages corresponding to the three generations of the Senosiain family and to explore how the strategy, both familiar and business, could be modified as a vision for the future, thinking about the imminent maturity of the next generation, and considering the profound changes that could occur in the environment, both national and international. In addition, it is worth highlighting the value of the strategic definition of a company, rebuilding and analyzing its tradition and its historical development as additional elements to evaluate its forces, weaknesses, values, among others. This case may also be suitable for discussing and analyzing the peculiar problems and characteristics of family businesses.

What Is Continuity?

1998 ◽  
Vol 11 (4) ◽  
pp. 337-347 ◽  
Author(s):  
Nancy Drozdow
Keyword(s):  
Family Business ◽  
Family Businesses ◽  
The Family ◽  
Core Elements ◽  
Definition Of ◽  
Gains And Losses ◽  
Unique Core

This article examines and expands the concept of continuity and asserts that family businesses and consultants retain a unidimensional definition of continuity in which success is attained only when family and business remain together. It suggests that this thinking is stale—muddied by an idealized version of the family business—and argues that continuity should be defined as the preservation of one or more essential, unique core elements that in turn implicate a set of tradeoffs or elements that may be sacrificed. Continuity approached in this way, where the pursuit of any dimension will have both gains and losses, will inevitably enrich both the client and consultant.

scholarly journals Diversification of export territories of family businesses as a tool of their further development

2019 ◽  
Vol 17 (3) ◽  
pp. 306-322 ◽  
Author(s):  
Naděžda Petrů ◽  
Andrea Tomášková ◽  
Monika Krošláková
Keyword(s):  
Foreign Trade ◽  
Family Business ◽  
First Generation ◽  
Family Businesses ◽  
Next Generation ◽  
Foreign Markets ◽  
The Family ◽  
The Stability ◽  
Further Development ◽  
The Eu

Family business is the largest global source of jobs in the private sector, whose multigenerational nature strengthens the stability of individual economies. A competitive small and medium-sized enterprise (SME) sector into which family businesses are classified is an essential prerequisite for the full-fledged integration of any economy into the global economic space. For the Czech economy, the importance of foreign trade is increasing, and is dependent on the capabilities of companies to expand to foreign markets. The goal of this article is to identify involvement of the generation of successors to export activities of family business, focusing on diversifying export territories in relation to structure of the industry A secondary goal is to discuss the demand mechanisms for SMEs/family business oriented toward export. The scientific hypotheses defined are focused on demonstrating a dependency between the diversification of export territories, the involvement of the generation of successors in the management of the company and structure of industry. Authors have demonstrated that family businesses managed by the first generation of founders export primarily to the territories of Slovakia, Germany, and the EU. Companies where the next generation contributes to management diversify territorial risk and also export outside the EU countries. A significant correlation was demonstrated between automotive industry and Germany, Slovakia and country outside the EU and mechanical engineering and country outside the EU. The uniqueness of this article lies in the topicality of the real transition of Czech family businesses to the next generation, which carries out foreign trade to promote the further development and sustainability of the family business for future generations.

scholarly journals Analysis of the success factors for MSME succession in Surabaya: A principal component analysis

2018 ◽  
Vol 21 (2) ◽  
Author(s):  
Candraningrat . ◽  
Oktaviani . ◽  
Sri - Suhandiah
Keyword(s):  
Principal Component Analysis ◽  
Factor Analysis ◽  
Family Business ◽  
Success Factors ◽  
Principal Component ◽  
Component Analysis ◽  
Family Businesses ◽  
Next Generation ◽  
Analysis Technique ◽  
The City

This study aims to find success factors for succession in family-based MSMEs in MSMEs in Surabaya, Indonesia, where Surabaya is a metropolitan city that allows entrepreneurs to develop and be sustainable for the next generation of family businesses. The research method used is factor analysis which is an analysis technique that forms the latent variables that have not been determined before the analysis, the results of anilisation will find any factors that influence the success of succession in MSMEs. Sample in this study amounted to 100 MSMEs of family businesses that could be met in Surabaya or incidental sampling, while respondents in this study were second generation family business owners. The method of data collection is a survey with a questionnaire instrument that has been tested for validity and reliability. The data analysis technique used is the Principal Component Analysis Factor Analysis with SPSS software. The results of this study found that six factors that determine the success of succession in MSMEs in the city of Surabaya are succession preparation procedures, successor characteristics, readiness of previous generations, communication in the succession process, relationships between family members, and introduction to the business environment. This research is expected to provide references on the sustainability of family business to the next generation in the city of Surabaya, East Java, Indonesia.

scholarly journals Family and Cultural Capital. The perspective of familiness

2014 ◽  
Vol 4 (2) ◽  
Author(s):  
Pilar Ortiz García ◽  
Ángel Olaz Capitán ◽  
Juan Monreal Martínez
Keyword(s):  
Cultural Capital ◽  
Corporate Culture ◽  
Family Business ◽  
Business Strategy ◽  
Business Performance ◽  
Family Capital ◽  
The Family ◽  
Key Factor ◽  
Definition Of ◽  
Cultural Components

The influence of the family on a business, its commitment to the company and the values it conveys form a capital capable of influencing the global development of a business. This research analyzes family capital and in particular its cultural components as a resource influencing the direction of the company. Corporate culture as a guiding philosophy for family business strategy is a key factor in its success. In short, the cultural capital of a family business is a capacity for empowerment. The sharing of values and an agreed definition of the business mission and its beliefs exert an element of cohesion among its human resources giving competitive advantage. The issue is to understand how business performance is influenced. 

“I'm Your Leader Now, but Do You Trust Me?”

2022 ◽  
pp. 466-487
Author(s):  
Simona Leonelli ◽  
Francesca Masciarelli ◽  
Alessandra Tognazzo
Keyword(s):  
Leadership Style ◽  
Family Business ◽  
Family Businesses ◽  
The Other ◽  
Leadership Succession ◽  
Next Generation ◽  
Previous Generation ◽  
Transportation Sector ◽  
Business Cases

Leadership succession is inevitable for most family businesses. To effectively face this challenging transition, next-generation leaders need to have the ability to gain their employees' trust which is typically very challenging due to previous generation' influence on the business. The chapter explores how trust in family leaders can impact succession when a business is passed from one generation to the next. This chapter presents two comparative examples of family business cases operating in the transportation sector in Italy. In the first business, the succession already took place and the next-generation leader is running the firm, while in the other firm, the incumbent generation is still in charge of the company and is not passing the baton. Results show that the incumbent and next-generation leader's perception of their leadership style correspond to non-family employees' perceptions. However, employees' trust in the incumbent is higher than the trust in the successor.

Updating Systems Concepts in Family Businesses

2009 ◽  
Vol 22 (1) ◽  
pp. 65-81 ◽  
Author(s):  
Brian Distelberg ◽  
Ritch L. Sorenson
Keyword(s):  
Family Business ◽  
Family Businesses ◽  
Business Systems ◽  
Resource Flows ◽  
Business System ◽  
The Family ◽  
Resource Transfers ◽  
Definition Of ◽  
Current Systems

This article extends and expands current systems views of family business and provides a framework for interpreting family business holistically . The framework extends the definition of family-first and business-first systems and adds three categories that typify the gradations of firms that represent balanced systems emphases. In addition, this article discusses the goals, resource transfers, strengths, and limitations of each type of system and describes how firm adaptability and resource flows influence and change these family business systems; it argues that to understand family business health, one must understand the values and goals that guide the family, business, and ownership systems, as well as the overall family business system; and it presents an inclusive definition of family and business based on systems membership.

scholarly journals Relevo generacional y transmisión “mortis causa” de la empresa familiar en el Derecho español

2020 ◽  
Vol 22 (2) ◽  
pp. 34-75
Author(s):  
Ignacio Gallego Domínguez
Keyword(s):  
Family Business ◽  
Succession Planning ◽  
Family Businesses ◽  
The State ◽  
Code System ◽  
Next Generation ◽  
Legal Requirements ◽  
Inheritance Tax ◽  
Spanish Law ◽  
The Family

The most crucial challenge for family businesses is the transfer to the next generation. It affects both the leadership and the ownership of the enterprise, whether individual or corporate. Transferring the ownership of the organization at the time of the death of the owner, raises important questions in the Spanish Civil Code system, in which inheritance contracts are not allowed, and there are rigid forced heirship provisions, which limit the testator's freedom. The correct and appropriate transmission of the family business requires adequate planning, which must lead to write a will -to avoid intestacy-, and make use of those special mechanisms that contemplate the payment of the forced heirship with money outside the state, as well as those others allowed in Spanish law that help to channel the phenomenon. Succession planning also requires being vigilant to comply with the legal requirements for obtaining benefits in inheritance tax.

Next-generation leadership development: a management succession perspective

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Joseph Kie Kuong Tang ◽  
Wan Sabri Hussin
Keyword(s):  
Family Business ◽  
Succession Planning ◽  
Family Businesses ◽  
Chinese Family ◽  
Next Generation ◽  
Content Type ◽  
The Family ◽  
Management Succession ◽  
Inclusive Approach ◽  
Malaysian Chinese

PurposeThis research study focusses on the succession challenges in small-medium outboard marine businesses of Malaysian Chinese family ownership. The founder-owners face challenges in convincing the next-generation members to establish their careers within the family business and to ensure successions are in place to safeguard the family's wealth. A gap exists in the research literatures concerning such family business owners; and their experiences would provide valuable information to other Malaysian Chinese family businesses planning to start the succession journey.Design/methodology/approachAn exploratory case study methodology to research five Malaysian Chinese family businesses cases in Klang Valley, Selangor, Malaysia, is used in this study. The primary qualitative data were obtained through in-depth, semi-structured interviews and observations. The research data lead to the identification of the following themes: generational change affects the survival of small-medium Malaysian Chinese family-owned businesses; the founder-owners' intention and desire for business to pass to the next generation give rise to the imperative of succession; the founder-owners' motive and goals, family context and the business nature would determine a large part to how the succession plans are carried out and the upbringing, expectation and obligations would determine how the next generations of children would view the prospect of taking over the family business. From this, a succession model that detailed an inclusive approach to succession planning process between the two generations is established.Research limitations/implicationsA small purposive sample is included, and it is recommended that a larger and more diverse sample be collected in future studies. This study follows a nuclear family structure of parents and children. If more Chinese family businesses are selected based on a wider set of family members such as uncles and cousins, the findings may differ.Social implicationsThis research study could also facilitate other Malaysian family businesses to rethink and refocus on the importance of undertaking an inclusive approach to succession planning and also help potential next-generation successors in understanding and working towards attaining the qualities that family firms look for in future leaders.Originality/valueThe researcher summarizes the study findings into a management succession model. An inclusive succession approach is needed to overcome these challenges and would enable sustainability, continuity and longevity of the family business. This would help the family business to understand that succession is not a single event but a process that needs to be planned together with the next-generation family members over a certain period of time.

scholarly journals Revealing the Third Generation Myth in Family Businesses

2020 ◽  
Vol 9 (1) ◽  
pp. 17-22
Author(s):  
Sabitha Rani Saraswati
Keyword(s):  
Data Collection ◽  
Knowledge Transfer ◽  
Family Business ◽  
Structured Interview ◽  
Family Businesses ◽  
Third Generation ◽  
Collection Method ◽  
The Third ◽  
The Family ◽  
A Company

A family Business is a company or business which is run and managed by a family. Hence, the purpose of this study is to find out the truth of the Third Generation myth in family businesses. This study uses a data collection method using a semi-structured interview. This research uses source triangulation method which aims to test the credibility of the data which is carried out by checking the data that has been obtained from several sources. In this study, samples will be taken from several sources. The resource person himself will be taken from the senior generation as the owner of the family businesses and the next generation. The results of this study states that the decline of family businesses did not occur solely because of the mistakes of the third generation. Therefore, the third generation myth is not true. Keywords: family business, trust, knowledge transfer, delegation, third generation

scholarly journals Micro Family Businesses in the Czech Republic from the Perspective of Multiple Criteria Decision-Making

2021 ◽  
Vol 92 ◽  
pp. 05021
Author(s):  
Vojtěch Meier
Keyword(s):  
Decision Making ◽  
Czech Republic ◽  
Family Business ◽  
Multiple Criteria Decision Making ◽  
Family Businesses ◽  
Multiple Criteria ◽  
Legal Form ◽  
The Czech Republic ◽  
The Family ◽  
Definition Of

Research background: Family businesses are undoubtedly important in both the Czech and international economy. They also play a crucial part in globalization. They have always been providing the largest job source in the private sector all over the world. However, over all these years, there has not been a unified definition of family business, which makes the government hard to distinguish between family and non – family business. Thus, this complicated the administrative and legal process. Finally, in 2019, the definition of the family business in the Czech Republic has been specified, which has facilitated many administrative and legal processes. Simultaneously, the management of Czech family businesses is currently facing the first “post-revolutionary” transition of generations. Many family businesses are deciding whether to maintain or to change the type of business entities. Purpose of the article: This article aims to determine the most advantageous legal form of business for micro family businesses. Methods: This article uses the Saaty pair comparison method and TOPSIS method. In addition to the methods of analysis, synthesis, and comparison, the selected methods of multiple criteria decision making are used in the article. Findings & Value added: The results of the decision analysis revealed that, based on the criteria considered (legal, accounting, tax and managerial), the most optimal legal form of the family business is self-employed. Apart from the results, the research adds value to this topic for the Czech business environment, in which future scholars can compare between the Czech Republic and the other countries.

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