Developing A New Urban Poor Family Business Model Using Cognitive Approach

PurposeThe aim of this paper is to verify whether, in the tourism sector, the “family business model” is an important development opportunity and, in particular, if it is an innovation driver for this industry development. In the literature, there is no conclusive evidence of this for the tourism sector. In this context, the authors investigate personal and family needs and preferences alongside the relationship between family business model, growth and profit maximization and the development of tourism businesses through innovation drivers.Design/methodology/approachTo develop this topic, the authors conducted an extensive literature review considering the scientific papers published and contained mainly in database in the last 10 years (2010–2020) and focused the attention on the last five years. The authors ran content and structural analysis on the collected sources by main scientific databases (EBSCO, Scopus, Thomson Reuter, etc.). Based on a systematic literature review, the analysis was conducted using statistical criteria and bibliometric indicators. In detail, the authors used systematic literature review, bibliometric analysis and automatic text analysis (ATA) tools for identified lexicon analysis and strategic keywords and used statistical correlation to classify the different approaches in the literature and to outline the orientations of the various research groups.FindingsFrom this analysis, the correlation between tourism, hospitality, entrepreneurship, life cycle and innovation dynamics was analysed. Important research gaps are identified, and future research priorities are suggested. Implications for both family business and tourism theory are discussed.Originality/valueWhile the intersection between tourism management and family business model has been established in the literature, the number of related publications is still limited. Against this background, a literature review as a total analysis was an adequate and practicable research methodology. This paper proposes a comprehensive literature review and a reflection on the potential developments and applications for family business in the tourism sector. Authors also suggest several research directions that have not been adequately investigated yet. In particular, scholars do not seem to have caught all the implications of innovation adoption, especially for SMEs and family ownerships in tourism.

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Integrated Change Management©: Challenges for Family Business Clients and Consultants

Family Business Review ◽

10.1111/j.1741-6248.2004.00005.x ◽

2004 ◽

Vol 17 (1) ◽

pp. 71-80 ◽

Cited By ~ 22

Author(s):

Marta Vago

Keyword(s):

Business Cycles ◽

Change Management ◽

Business Model ◽

Family Business ◽

Global Competition ◽

Course Of Action ◽

Business Consultants ◽

Finite Set

Global competition, shorter business cycles, and a new and different workforce require a faster pace of change than some business-owning families can or want to accommodate. They need help to decide what course of action would best serve their needs going forward. Should they change their business model? Should they continue what they're doing? Should they sell the business? Each choice brings with it a different set of consequences. All require stakeholders to make emotionally charged, life-changing decisions. Integrated Change Management© engages clients in meaningful and “feelingful” conversations regarding their individual and collective futures. It also provides them with a clear and finite set of options to choose from, together with a mechanism to assess these options' potential to satisfy business, personal, and family objectives. The process offers family business consultants a range of opportunities to assist clients in charting their future.

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Unlocking the Hidden Value of Concepts: A Cognitive Approach to Business Model Innovation

Strategic Entrepreneurship Journal ◽

10.1002/sej.1191 ◽

2015 ◽

Vol 9 (1) ◽

pp. 99-117 ◽

Cited By ~ 185

Author(s):

Luis L. Martins ◽

Violina P. Rindova ◽

Bruce E. Greenbaum

Keyword(s):

Business Model ◽

Business Model Innovation ◽

Cognitive Approach

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Performance Implications of Business Model Change: A Case Study

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis ◽

10.11118/actaun201563062101 ◽

2015 ◽

Vol 63 (6) ◽

pp. 2101-2107 ◽

Cited By ~ 1

Author(s):

Jana Poláková ◽

Gabriela Koláčková ◽

Ivana Tichá

Keyword(s):

Business Model ◽

Family Business ◽

Value Creation ◽

Structural Changes ◽

Financial Analysis ◽

Business Model Canvas ◽

The Family ◽

Before And After

The paper deals with changes in performance level introduced by the change of business model. The selected case is a small family business undergoing through substantial changes in reflection of structural changes of its markets. The authors used the concept of business model to describe value creation processes within the selected family business and by contrasting the differences between value creation processes before and after the change introduced they prove the role of business model as the performance differentiator. This is illustrated with the use of business model canvas constructed on the basis interviews, observations and document analysis. The two business model canvases allow for explanation of cause-and-effect relationships within the business leading to change in performance. The change in the performance is assessed by financial analysis of the business conducted over the period of 2006–2012 demonstrates changes in performance (comparing development of ROA, ROE and ROS having their lowest levels before the change of business model was introduced, growing after the introduction of the change, as well as the activity indicators with similar developments) of the family business. The described case study contributes to the concept of business modeling with the arguments supporting its value as strategic tool facilitating decisions related to value creation within the business.

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The business model canvas of women owned micro enterprises in the urban informal sector

Journal of Enterprising Communities People and Places in the Global Economy ◽

10.1108/jec-05-2021-0068 ◽

2021 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Sujata Mukherjee

Keyword(s):

Business Model ◽

Informal Sector ◽

Urban Poor ◽

Community Support ◽

Resource Planning ◽

Social Recognition ◽

Sales Promotion ◽

Content Type ◽

Business Model Canvas ◽

Urban Informal Sector

Purpose The purpose of this paper is to examine the motives and the business model canvas adopted by urban poor women to set up microenterprises in the informal sector. Design/methodology/approach The qualitative analysis used in the paper is based on empirical findings from field work conducted in Mumbai and Pune district in the state of Maharashtra situation on the western coast of the Indian sub-continent. In total, 63 women microentrepreneurs were interviewed using an interview guide, which contained open-ended questions regarding choices made to become an entrepreneur, business canvas mechanics, family and community support to start and manage their businesses. The paper presents findings across the sample and two selected case studies. Findings In contrast to the view that women’s informal sector micro entrepreneurship is a result of “involuntary exclusion” or “poverty”, this paper found that women’s motives are a result of a wide variety of factors including supplementing family income, gain social recognition and a variety of other reasons. The business canvas of the entrepreneurs focussed on key partners, resource planning, customer orientation and sales promotion. Research limitations/implications The limitation of the study is that it focussed on women micro entrepreneurs in the urban informal sector in Mumbai and Pune. Similar studies can be carried out in other mega-metro cities with a large urban poor population in India. Social implications Venturing in the microenterprise sector is an important way for employment generation amongst women from the low-income groups in the urban informal sector. Women are becoming important players in the microenterprise sector and have tremendous relevance in India as the contribution of this sector to the Indian economy is significant. Originality/value There are very few studies in the Indian context, which focus upon the business canvas of women micro entrepreneurs in the urban informal sector. This study, therefore, presents new knowledge around women’s micro entrepreneurship in India.

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The performance of audit committees in Jordanian public listed companies

Corporate Ownership and Control ◽

10.22495/cocv13i1c10p1 ◽

2015 ◽

Vol 13 (1) ◽

pp. 1122-1133 ◽

Cited By ~ 3

Author(s):

Modar Abdullatif ◽

Hala Ghanayem ◽

Rand Ahmad-Amin ◽

Saleen Al-shelleh ◽

Lara Sharaiha

Keyword(s):

Business Model ◽

Family Business ◽

Questionnaire Survey ◽

Listed Companies ◽

Audit Committees ◽

Limited Extent ◽

Actual Performance ◽

External Auditors ◽

The Family ◽

Do So

This study aimed to explore the degree to which audit committees in Jordanian public listed companies possess the necessary characteristics needed to enable them to perform their duties, and the level of their actual performance of these duties. To do so, the study used a questionnaire survey of the views of external auditors with experience in auditing Jordanian public listed companies. The main findings of the study show that audit committees do possess the necessary characteristics needed, but only to a limited extent. In addition, their performance of their duties was also to a limited extent. The study concluded that these findings can be attributed to the family business model dominant in most Jordanian companies, where the demand for effective audit committees is considered low due to limited agency costs involved.

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Internationalization: Case of an Emerging Home Decor Family Business

South Asian Journal of Business and Management Cases ◽

10.1177/2277977920958083 ◽

2020 ◽

Vol 9 (3) ◽

pp. 433-444

Author(s):

Saroj Koul ◽

Uma Kumar ◽

Vinod Kumar ◽

Sahil Singla

Keyword(s):

Best Practices ◽

Business Model ◽

Family Business ◽

Research Question ◽

Cultural Analysis ◽

Family Businesses ◽

Small Sample ◽

Regulatory Environment ◽

Internationalization Theory

Komal International, India is a family-run enterprise [also called small and medium enterprises (SMEs) in India] catering to the home decor business. In its mission to become a ‘direct’ business partner (supplier) to several MNCs1, Komal International noticed specific challenges to become a ‘compliance-ready’2 export company. Consequently, the company embarked on identifying the relevant external and internal factors. The external factors were identified after assessing several MNCs that indirectly procured products manufactured by Komal International or were listed as their prospective buyers. This assessment and restructuring of its internal functioning allowed alignment with the needs of ‘compliance-ready’ export business. And in turn it provided the ability to survive in a competitive market. Purpose: This case study aims to identify challenges faced by the prospective family businesses (a supplier) to become a ‘compliance-ready’ supplier for the offshore MNCs (buyer) in the home decor market. The challenges were identified by conducting a structured questionnaire followed by a personal interview with existing and prospective buyers; further, modifications in the internal company policies lead to making a ‘compliance-ready’ supplier, useful in finding new export markets. Methodology: The approach was qualitative and included a series of in-person interviews3 with the management of the company over one year, assessing the concepts of family business internationalization as a theory, and from secondary published sources on home decor sector. As such, it was a case analysis to comprehend best practices in a family business to fulfil its vision. Basis of the Case: Phenomenon based. Type of the Case: Applied decisional. Protagonist: Present. Theory: The approach is to examine the relevance of ‘internationalization theory’ for a family business in India. Specifically, we shall, through a case study, investigate the business model adopted by an export ‘compliance-ready’ small family business to thrive in a competitive environment. Research Question: Komal International is a decade-old family business with a vision to provide home decor items globally. The protagonist, having examined the existing business model by considering the internationalization theory and the regulatory environment, has identified two specific challenges. The first is to understand the ‘compliance-ready’ strategy that in turn necessitates the internal policies to be streamlined for its business growth as a ‘direct’ exporter to MNCs. And the second is to meet an ambitious export prospect. The research question is attempted by using the internationalization theory and analysing its role as a supplier to MNCs and becoming ‘compliance-ready’ by modifying its internal company policies. Findings: The significant results suggested are the possible best practices that family businesses such as were embraced by Komal International that are aspirant to become a direct supplier to offshore MNCs may be considered for adopting. These include reworking many internal policies of the company considering (a) the internationalization theory, (b) opportunities from the revised regulatory environment established for Indian SMEs and (c) the opportunities in the global marketplace. By adopting changes within the company, the supplier side (for the buyers’ acceptance as a compliance-ready company) can be strengthened. The findings can be useful to entrepreneurs, specifically family businesses, keen on internationalization. It will be of value to researchers and other SMEs (this definition includes family-run business) in India and globally. The limitations of the study include defining quality parameters based on product specifications and small sample size in interviewing MNCs. The research experiment can be extended to include country-specific analysis, trade trends and cultural analysis.

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Keeping it in the family: a socio-cognitive approach to the prioritization of family goals

Journal of Small Business and Enterprise Development ◽

10.1108/jsbed-07-2019-0257 ◽

2020 ◽

Vol 27 (3) ◽

pp. 471-487

Author(s):

Desmond Ng ◽

Harvey S. James Jr ◽

Peter G. Klein

Keyword(s):

Family Business ◽

Family Conflict ◽

Formation Process ◽

Family Influence ◽

Limited Attention ◽

Cognitive Approach ◽

Content Type ◽

Social Settings ◽

The Social ◽

Goal Formation

PurposeAs the prioritization of family goals depends on the resolution of family conflict, this study's purpose is to explain how a dominant coalition (DC) of parental family members prioritizes their family economic and non-economic goals when faced with different types of family conflict.Design/methodology/approachA conceptual framework is developed drawing on a socio-cognitive approach to explain a family's goal formation process. This socio-cognitive approach extends the stakeholder salience underpinnings of family influence/essence theory. It shows that family conflict arises from the complex and novel social settings of a family business and that a DC prioritizes their family's goals by drawing on heuristic biases to resolve such family conflict.FindingsA key finding of this study is the introduction of a distinct type of agency to family influence/essence research. Unlike the salient explanations, a family's goal formulation process is attributed to a DC's heuristic response in resolving their family business conflict.Originality/valueScholars have called for a greater need to investigate the social and cognitive underpinnings of a family's goal formation process. While the social settings of a family business are often explained in terms of family conflict, an understanding of the sources of such conflict and their resolution have received limited attention. This study opens new avenues to understanding the sources of such family conflict and the cognitive mechanisms needed to overcome them. This understanding is critical not only to the prioritization of a family's goals but also to the idea that “influence” defines the essence of a family business.

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