scholarly journals Intergenerational Transfer of Family-Run Enterprises in Slovenia in Comparison with German Law

2021 ◽  
Vol 2 (2) ◽  
pp. 27-37
Author(s):  
Gregor Dugar
Keyword(s):  
First Generation ◽  
German Law ◽  
Business Owners ◽  
Business Development ◽  
Intergenerational Transfer ◽  
Next Generation ◽  
Share Capital ◽  
The Family ◽  
The Republic

After the Republic of Slovenia declared its independence in 1991 and adopted a new constitution, business in the country began to increasingly develop. Now, 30 years since declaring independence and the start of business development, we are witnessing the retirement of the first generation of business owners, and it is reasonable to expect the rise of such examples in the following years. With the change in generation and retirement of the first generation of business owners, the question arises as to how to legally regulate the transition of family companies to younger generations, with the objective of keeping the company within the family circle and avoiding fragmentation of the company because of a higher number of potential heirs. This article presents information on the transfer of a family company to the next generation with sole traders, personal companies, and companies with share capital in comparison to German law.

scholarly journals The Impact of Owner Gender in Family Businesses in Indonesia Liliana Dewi, Kazia Laturette, and I Gusti Bagus Yos

2021 ◽  
Author(s):  
Liliana Dewi ◽  
Kazia Laturette ◽  
I Gusti Bagus Yosia Wiryakusuma
Keyword(s):  
Family Business ◽  
First Generation ◽  
Future Generations ◽  
Early Age ◽  
Next Generation ◽  
Female Leaders ◽  
The Family ◽  
Long Time ◽  
The Impact

There are differences in the way people perceive the role of women and men in business. The purpose of this study was to analyze the influence of male or female leaders on two business families in Indonesia. The success of the family company cannot be separated from the role of the first generation in trusting future generations to continue their family business. A qualitative approach was used, where the data were collected through interviews with two family companies with different generations of successors. One family company has a female successor generation and another family company has a male successor. The findings showed that the first generation trusted from an early age and involved the second generation in the family business, whether their children were girls or boys. In fact, all succeeded in taking over the baton of leadership. An interesting finding is that even though the next generation is female and handles welding, which is more commonly done by men, thanks to the trust given by their parents, this next generation would be more masculine in order to gain legitimacy from employees who have worked for a long time in the company. This is as good as the next generation of men in other family companies. Keywords: family business, gender, first-generation roles, succession of success

In the Founder's Shadow: Conflict in the Family Firm

1999 ◽  
Vol 12 (4) ◽  
pp. 311-323 ◽  
Author(s):  
Peter S. Davis ◽  
Paula D. Harveston
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Telephone Survey ◽  
Business Owners ◽  
Next Generation ◽  
Independent Variables ◽  
The Family ◽  
Nonlinear Trends ◽  
Using Data ◽  
Two Independent Variables

This paper examines the extent to which conflict across generations of family firms is due to the effects of two independent variables—generation and generational shadow. The presence of a generational shadow was indicated by whether either or both of the parents continued to influence the company once the next generation assumed control. Hypotheses predicted nonlinear trends in conflict and interactions between generation and generational shadow. Using data from a national telephone survey of over 1,000 family business owners, the results of an ANOVA test confirmed that the presence of generational shadow, in particular, that of the founder, increases organizational conflict.

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 MANAGING SUCCESSION IN A FAMILY OWNED SMALL-MEDIUM ENTERPRISES

2020 ◽  
Vol 3 (1) ◽  
pp. 21
Author(s):  
Honey Nandlal ◽  
Suresh Kumar
Keyword(s):  
Family Business ◽  
First Generation ◽  
Business Owners ◽  
Family Businesses ◽  
Business Survival ◽  
Key Informants ◽  
Development Agenda ◽  
The Family ◽  
Small Medium Enterprises ◽  
Medium Enterprises

<p>Nowadays, family businesses are of high number in countires and contribute to the development of the economy. This research was conducted due to the importance of family business survival and it focuses on factors that affect their performance. Recently, family businesses have been identified as one of the concerns in the global entrepreneurial development agenda. This is because of the existing problem which is caused by family business owners avoid planning and treat succession as a problem instead of an opportunity. This impacts the continuity of the family-owned business. This research is made to emphasize the importance of planning and the drawbacks of negative bias in viewing succession as a problem. This study is expected to make family business owners understand the importance of planning and treating succession as an opportunity to achieve continuity. Qualitative research method was chosen as the method of the research with first generation family business owners as the key informants. Three key informants are chosen; Mr. Untoro A. Suryadi, Mr. IS and Mr. AS. In conclusion, family business should stop strategizing succession and treat succession as a practice.</p>

scholarly journals Bisnis Keluarga di Bandung Bagaimana Mereka Bertahan-Berlanjut?

TRIKONOMIKA ◽  
2013 ◽  
Vol 12 (2) ◽  
pp. 125
Author(s):  
Budiana Gomulia
Keyword(s):  
Old Age ◽  
Family Business ◽  
First Generation ◽  
Business Management ◽  
Development Model ◽  
Mature Stage ◽  
Next Generation ◽  
The Family ◽  
Family Beliefs ◽  
Class Assignment

The Family business in Indonesia having capability to survive-sustain. Begin when the founder started his business, he fought remarkable that business can thrive. In order the business continues to grow and “built to last” there are many aspects and factors that must be considered, including regeneration by successors and professionalization of management. Three Dimention Development Model (Davis et al, 1997) will describe the situation  of family business in Bandung consiting of  The development of business, The development of  family and  The development of ownership. This research was conducted in three semesters, in 2011 and 2012. Using a sample of 45 companies from a variety of ages and types of business This research is descriptive -multikasus. The process of interview, observation and discussions with respondents in companies carried out by the students as a class assignment .  Family Business Management  class is organized by the Department of Management in Unpar.It seems the family business in Bandung can survive into old age, can reach 50 years and over. Succession from the first generation to next generation already happened or is happening. The sustainability of the business due to family commitments and a strong family beliefs . Most family business  is in the mature stage, although the management and ownership is still controlled by family members.

ANTHROPOGENIC AND ECONOMIC FACTORS OF THE СRIMEAN ECOLOGY

2020 ◽  
pp. 5-14
Author(s):  
N.P. Demchenko ◽  
N.Yu. Polyakova
Keyword(s):  
Business Owners ◽  
Crimean Peninsula ◽  
The North ◽  
Chemical Release ◽  
The Crimea ◽  
Russian Plant ◽  
The Republic ◽  
The Town ◽  
Integrated Indicators ◽  
The Crimean Peninsula

The situation in the ecology of the Crimean Peninsula in recent years was discussed in the article. The analysis of absolute and integrated indicators of the anthropogenic impact showed that the ecological situation remains difficult, and according to some indicators even continues to deteriorate. In summer 2018, the situation had worsened because of the large chemical release of titanium dioxide on the north of the Crimea from the holding pond of a large Russian plant that is situated near the town of Armyansk. This, in turn, led to the contamination of the large territory on the north of the peninsula. This fact indicates insufficient control by officials of the Republic of Crimea over the implementation of the RF laws for environmental protection by business owners of various forms of ownership, especially private ownership, the level of responsibility for the environment of which is very low.

The Inheritors’ Coming of Age

2018 ◽  
Author(s):  
Elisabeth Schimpfössl
Keyword(s):  
First Generation ◽  
Second Generation ◽  
Coming Of Age ◽  
Next Generation ◽  
Privileged Status ◽  
The Rich

Chapter 7 focuses on the upbringing of the second generation of the Russian bourgeoisie. As the first generation of wealthy Russians grows older, they are becoming more aware of their own mortality and are preparing to hand over their wealth to the next generation. It seems that rich Russians are yet to find a convincing narrative to justify their children’s legitimate entitlement to wealth that does not contradict their own everyday ideology of being self-made. Nevertheless, a two-pronged approach is emerging. First, in line with the shift toward new modesty, children are being encouraged to cultivate a habitus of privilege, as Sherman suggests in the case with wealthy US Americans, which makes them appear morally worthy in an environment marked by extreme inequality. Second, via their philanthropy the rich are supporting institutions and scholars in an effort to strengthen a dynamic capitalist environment in which privileged status is respected.

Familism and Ancestor Veneration: A Look at Chinese Funeral Rites

1996 ◽  
Vol 24 (4) ◽  
pp. 503-517 ◽  
Author(s):  
Mary Yeo Carpenter
Keyword(s):  
First Generation ◽  
Living Organism ◽  
Psychological Trauma ◽  
Major Obstacle ◽  
Rite Of Passage ◽  
Ancestor Veneration ◽  
Funeral Rites ◽  
The Family ◽  
The World ◽  
The Universe

Ancestor veneration remains a major obstacle to conversion among the Chinese the world over. While the issue often comes to a head over funeral rites, ancestor veneration cannot be understood in isolation. Rather one must look at the broader issues of the cult of the family, a tenet propagated by Confucius, putting loyalty to the family above every other claim including that of the gods or the state. There was also the influence of Taoism which sees the universe as a living organism co-existing in interdependence. The family then is not just a sociological unit, but also a metaphysical unit with ancestral spirits helping to keep the fragile balance which their descendants have with the rest of the universe and with other spirits. Finally, we must not forget that death is a psychological trauma and that living relatives often need a rite of passage to remember and to grieve for the dead. Ancestor veneration then is not a simple act that can be abolished by deciding which rituals in a funeral are biblical and which are not. Rather it is part of a complex web that needs to be understood in its totality. This paper, written by a Chinese and first-generation Christian, attempts to do that.

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