scholarly journals Nurturing and Transferring Entrepreneurship in Thai Business Families

2018 ◽  
Vol 5 (1) ◽  
pp. 23 ◽  
Author(s):  
Rungluck Naksung ◽  
Opas Piansoongnern
Keyword(s):  
Family Business ◽  
Parental Support ◽  
Developmental Stages ◽  
Structured Interview ◽  
Business Practices ◽  
The Family ◽  
Two Factors ◽  
Parental Family ◽  
Business Family ◽  
Thai Business

This research aims (1) to investigate patterns and phenomena of entrepreneurship formation in Thai business families; (2) to investigate practices of parent (the founders/predecessors of the business family) in nurturing and transferring entrepreneurship to their family members (successors); and (3) to build a model for nurturing and transferring entrepreneurship in Thai business families. The Semi-structured interview was used for collecting data from key informants who are potential successors of Thai business families. Eighteen potential family business successors participated in the interview. The study revealed that entrepreneurship in the Thai business families has been emerged since childhood developmental stages. The key practices of the Thai business families used for creating family entrepreneurship are: (1) Parental role modeling; (2) Parental family business practices; and (3) Parental support. However, the study disclosed and indicated that the founder or predecessor should build the family infrastructure before implementing any key practices. In this regard, the intellectual and mental factors were found as key elements. According to the findings, to be effective, these two factors must be created simultaneously.

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.

Family business successors' motivation and innovation capabilities: the case of Kosovo

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Asdren Toska ◽  
Veland Ramadani ◽  
Léo-Paul Dana ◽  
Gadaf Rexhepi ◽  
Jusuf Zeqiri
Keyword(s):  
Family Business ◽  
Qualitative Methodology ◽  
Second Generation ◽  
Scientific Evidence ◽  
Structured Interview ◽  
Study Data ◽  
Family Businesses ◽  
Content Type ◽  
The Family ◽  
Emerging Country

PurposeThis study aims to investigate the second-generation successors’ motives to join family businesses and their ability to generate innovation within them.Design/methodology/approachA qualitative methodology is used in this study. Data were collected through structured interview with the second-generation representatives, where the data obtained helped us to come to the results and answer the research questions of the study. A total of 15 interviews were conducted.FindingsThe findings of this study show that the second generation is motivated to continue the family business, cases show that successors since childhood have been oriented towards building an entrepreneurial mindset and also after entering the family business have generated innovation.Originality/valueThe study will bring theoretical implications to the family business literature, providing scientific evidence for the second generation of family businesses, from an emerging country such as Kosovo. As Kosovo is an emerging country, the study will contribute to the literature, suggesting other studies by emerging countries in this way to see the similarities and differences.

Law and HRM Challenges in Generational Transition of Family Firms

2021 ◽  
pp. 282-304
Author(s):  
Emiliano Marchisio
Keyword(s):  
Family Business ◽  
Family Firms ◽  
European Parliament ◽  
Business Practices ◽  
Family Roles ◽  
The Family ◽  
The Law ◽  
Generational Transition

This chapter examines some of the most relevant HRM problems in generational transition of family firms and proposes a number of legal instruments capable of resolving them. Use of corporations as vehicles to run the family business is examined, also with respect to consequences of this choice in business transition. Definition and “protection” of family roles within the firm are observed. Patrimonial issues are compared to personal issues and their interplay is explained by reference to five different scenarios. Last, the possibility to “select”, so to say, the law applicable to one's succession under Regulation (EU) no 650/2012 of the European Parliament and of the Council of 4 July 2012 is explored. At the end, it is concluded that even if HRM in family business shows informality along with formality in designing business practices, generational transition of family firms requires structuring and needs be planned, appropriately and in detail, in advance.

Introduction of accounting practices in small family businesses

2017 ◽  
Vol 14 (2) ◽  
pp. 111-136 ◽  
Author(s):  
Esperanza Huerta ◽  
Yanira Petrides ◽  
Denise O’Shaughnessy
Keyword(s):  
Family Business ◽  
Perceived Competence ◽  
Family Businesses ◽  
Service Industries ◽  
Business Practices ◽  
Managerial Accounting ◽  
Content Type ◽  
Small Family ◽  
The Family ◽  
Small Family Business

Purpose This research investigates the introduction of accounting practices into small family businesses, based on socioemotional wealth theory. Design/methodology/approach A multiple-case study was conducted gathering data through interviews and documents (proprietary and public). The sample included six businesses (five Mexican and one American) from different manufacturing and service industries. Findings It was found that, although owners control the implementation of accounting practices, others (including family employees, non-family employees and external experts) at times propose practices. The owner’s control can be relaxed, or even eliminated, as the result of proposals from some family employees. However, the degree of influence of family employees is not linked to the closeness of the family relationship, but rather to the owners’ perceived competence of the family employee, indicating an interaction between competence and experience on one side, and family ties on the other. Research limitations/implications First, the owners chose which documentary data to provide and who was accessible for interviews, potentially biasing findings. Second, the degree of influence family employees can exert might change over time. Third, the study included a limited number of interviews, which can increase the risk of bias. Finally, all firms studied were still managed by the founder. It is possible that small family businesses that have undergone a succession process might incorporate accounting practices differently. Practical implications Organizations promoting the implementation of managerial accounting practices should be aware that, in addition to the owner, some family employees and external experts could influence business practices. Accountants already providing accounting services to small family business are also a good source for proposing managerial accounting practices Originality/value This study contributes to theory in four ways. First, it expands socioemotional theory to include the perceived competence of the family employee as a potential moderator in the decision-making process. Second, it categorizes the actors who can influence managerial accounting practices in small family businesses. Third, it further refines the role of these actors, based on their degree of influence. Fourth, it proposes a model that describes the introduction of managerial accounting practices in small family business.

scholarly journals Building family business identity through transgenerational narratives

2017 ◽  
Vol 30 (3) ◽  
pp. 344-356 ◽  
Author(s):  
Maria Jose Parada ◽  
Alexandra Dawson
Keyword(s):  
Family Business ◽  
Collective Identity ◽  
Content Type ◽  
Old Spanish ◽  
Socially Constructed ◽  
Organizational Resource ◽  
The Family ◽  
Narrative Method ◽  
Business Family ◽  
Empirical Material

Purpose The purpose of this paper is to understand how family businesses (FBs) build their collective identity through transgenerational narratives. The authors examine the processes through which organizational meanings are socially constructed through narratives about individuals who are closely linked to the organizations (and their family). Design/methodology/approach Based on qualitative research, the authors study a 180-year old Spanish Pharmaceutical FB. Using longitudinal data, the authors analyze the narratives of six family members and two non-family executives. The authors use open-ended questions to allow interviewees to elaborate their own stories, following previous studies using extended narratives that leave the stage to the narrator. Findings Findings based on the stories of the eight interviewees (voice) suggest that the FB identity was initiated by the founder’s way to grow the business (fictionality). In turn the family shaped the identity of the FB, being reshaped by the stories arising from next generations’ entry into the business (reflexivity). While the FB identity reflects that of the owners, this identity is enduring but dynamic (temporality), not only shaped by the business family behind, but also conditioned by the environment. Originality/value The authors contribute to the growing literature adopting a narrative method to study phenomena in FBs. Thanks to the richness of the empirical material, a narrative method is particularly suited – and novel – for understanding collective identity, a crucial organizational resource that is closely linked to leadership in the FB.

scholarly journals Family Cohesion as a Longevity Factor of Business with Intergenerational Transmission

2014 ◽  
Vol 15 (4) ◽  
pp. 791-819 ◽  
Author(s):  
FCO. Javier Fernández-Roca ◽  
Jesús D. López-Manjón ◽  
Fernando Gutiérrez-Hidalgo
Keyword(s):  
Intergenerational Transmission ◽  
Family Business ◽  
Family Cohesion ◽  
Business History ◽  
Intergenerational Transfer ◽  
Critical Response ◽  
Original Plan ◽  
The Family ◽  
Business Family

This article contributes to a line of research in Business History that aims to determine the factors of family business longevity in the long term with the study of individual cases. The literature has identified family cohesion as one of the essential factors for survival. Cohesion may be reinforced or broken at the time of the intergenerational transfer. This study finds that a critical response on the part of the business family to the difficulties associated with intergenerational transfer of control, including modifications to the original plan, is usually based on trust between generations. Within the business family cohesion facilitates intergenerational transfers and, consequently, allows the family to evolve and transform itself into a business dynasty.

Moral Emotions in Family Businesses: Exploring Vicarious Guilt of the Next Generation

2020 ◽  
pp. 089448652094194 ◽  
Author(s):  
Fabian Bernhard ◽  
Rania Labaki
Keyword(s):  
Family Business ◽  
Management Practices ◽  
Moral Emotions ◽  
Future Research ◽  
Business Practices ◽  
Next Generation ◽  
Moral Decisions ◽  
The Family ◽  
Responsible Behaviors ◽  
Scenario Approach

In this article, we explore intergenerational moral emotions as a psychological root of ethical management practices. We develop a conceptual model of next-generation guilt in family business by building on family systems and identification theories. We test it with a scenario approach depicting an ethical dilemma. Our findings suggest that the less identified the next generation is with the family, the more likely vicarious guilt emerges. Guilt then leads to intentions of more responsible behaviors, such as reparative actions, apologies, and change in business practices. The implications encourage future research on family business guilt and moral decisions across generations.

Building Multitemporal Awareness and Reflexivity in Family Business: A Visual Sensemaking Exercise

2020 ◽  
pp. 251512742092138
Author(s):  
Vincent Lefebvre ◽  
Miruna Radu-Lefebvre ◽  
William B. Gartner ◽  
Jean Clarke
Keyword(s):  
Family Business ◽  
Family Members ◽  
Learning Activity ◽  
Executive Education ◽  
Visual Narrative ◽  
Group Setting ◽  
The Family ◽  
Multigenerational Family ◽  
Education Courses ◽  
Business Family

This article presents an exercise designed for successors and other business family members with the aim to enable them to communicate their understandings of their family and family business’ past legacies and to express their future-related projections. First initiated in France in 2014, then duplicated in United States in 2019, the exercise has been used in undergraduate, graduate, and executive education courses, with national and international cohorts. While the exercise has typically focused on classes composed of successors, it has also been used in executive education courses with business family members from older and younger generations. The learning activity asks participants to draw three consecutive images of their family business—past, present, and future—to develop a visual narrative of the family and family business legacies and future. Participants are then invited to tell the story of their family business and to depict its imagined future using the three drawings as guides, within the group setting. This visual sensemaking exercise enables participants to access tacit modes of relating to past legacies and contributes to developing multitemporal awareness and reflexivity in multigenerational family businesses.

Different Strokes for Different Folks: The Roles of Religion and Tradition for Transgenerational Entrepreneurship in Family Businesses

2020 ◽  
pp. 104225872096442
Author(s):  
Nonyelum Lina Eze ◽  
Mattias Nordqvist ◽  
Georges Samara ◽  
Maria José Parada
Keyword(s):  
Qualitative Study ◽  
Family Structure ◽  
Developing Country ◽  
Family Business ◽  
Family Businesses ◽  
Business Practices ◽  
The Family

This study explores how differences originating in religion and traditions imbue family features and business practices that affect the capacity of family businesses to continue being entrepreneurial across generations; that is, to maintain transgenerational entrepreneurship. Building on an in-depth qualitative study of family businesses, we show how differences in religion and traditions within three subregions of a developing country shape the family structure, the functioning of the family, and the family mindset with concomitant implications on the business practices that foster or hinder transgenerational entrepreneurship. Theoretical and practical contributions are discussed in the context of entrepreneurship and family business.

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