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Family-owned businesses account for many of the small and medium-sized enterprises that exist around the world in various industries. Due to their unique make up, these firms are often heavily influenced by family dynamics that must be reconciled by family and non-family workers alike in order to ensure the sustainability of the business. As smaller businesses competing against an increasingly globalized economy and more directly impacted by economic instability, especially in the wake of the COVID-19 pandemic, these businesses must continue to improve their practices and processes in order to not only survive but thrive. The Research Anthology on Strategies for Maintaining Successful Family Firms discusses the strategies, sustainability, and human aspects of family firms in order to understand what sets them apart from other businesses and how they can survive and compete in a globalized economy. This book discusses the unique dynamic brought by family firms that offers both opportunities and challenges for a growing business. Covering topics such as corporate venturing, the family unit, and business ethics, this text is an essential resource for family firms, entrepreneurs, managers, business students, business professors, researchers, and academicians.
This handbook is the definitive source of research on the differences among family firms. It provides a timely and thorough investigation of the variant strategies and behaviors undertaken by family firms today, taking a closer look at different configurations of family involvement and how they influence outcomes and success. While studies on differences between family and non-family firms are deeply rooted in the literature, this handbook uniquely examines the family firm heterogeneity research to date and the inner firm governance, financial and non-financial objectives, and strategies such as innovation, competitive dynamics, internationalization, and human resources management. The handbook pulls together the work of the most prominent names in family business from around the world, separating itself from the competition both in content and geographical scope. Future research directions provided in each chapter will spark further interdisciplinary scholarly work, and will be enlightening for researchers, educators, and practitioners who are currently limited to the narrow and exclusive literature and advance the burgeoning research on this important topic.
The 5Gs of Family Business is an inspiring book for business-owning families—entrepreneurs, inheritors, promoters and family members with an urge to grow at 5G speed in this VUCA world! Running a successful family business is not about having a professional degree or capital; it is about a unified vision, common values, collective goals and aligned roles of the owner-families to fulflll a dream. This book is an amalgamation of management theories and practices, and anecdotes and stories encompassing five dimensions essential for the success and longevity of any family business: Genesis, Growth, Gen-next, Governance and Giving back. Family business founders and successors must increase their cumulative knowledge and deepen their understanding of the complexities of managing a family business to enable their progress from SMEs to large enterprises, and for large enterprises to stay relevant and benefit not just the family but also the community and nation.
This book focuses on a central success factor for family businesses: maintaining the decision-making ability over generations while not jeopardizing the business due to family conflict, inefficient governance structures, or lack of identification. The authors identify that this is not as easy as the endeavor to bring two social systems together with contradicting logic (family and business) leads to many dangerous pitfalls. This book presents outcomes of a unique research project in which family managers of eleven of the oldest and largest German family businesses, at least the fourth generation, met for more than three years on a regular basis and presented the essence of their family governance structures to each other and to the authors. It was a joint "learning journey" that admits identifying twelve core questions that these families had been answering to keep up the relationship between family and business successfully over generations. Obviously, there is no "right" answer to these questions. The key to success is rather engaging the families in a process to find out their own answers and make them aware of the "two sides": being a family is different from being a business family.
When the COVID-19 pandemic caused a halt in global society, many business leaders found themselves unprepared for the unprecedented change that swept across industry. Whether the need to shift to remote work or the inability to safely conduct business during a global pandemic, many businesses struggled in the transition to the "new normal." In the wake of the pandemic, these struggles have created opportunities to study how businesses navigate these times of crisis. The Research Anthology on Business Continuity and Navigating Times of Crisis discusses the strategies, cases, and research surrounding business continuity throughout crises such as pandemics. This book analyzes business operations and the state of the economy during times of crisis and the leadership involved in recovery. Covering topics such as crisis management, entrepreneurship, and business sustainability, this four-volume comprehensive major reference work is a valuable resource for managers, CEOs, business leaders, entrepreneurs, professors and students of higher education, researchers, and academicians.
Organizational Behavior: A Skill-Building Approach, Third Edition examines how individual characteristics, group dynamics, and organizational factors affect performance, motivation, and job satisfaction. Translating the latest research into practical applications and best practices, authors Christopher P. Neck, Jeffery D. Houghton, and Emma Murray unpack how managers can develop their managerial skills to unleash the potential of their employees.
Proper implementation and the practice of governance in the public sector improve organizational performance through increased efficiency, productivity, quality, and innovation. Ultimately, governance helps organizations make better decisions, streamline processes, and reduce re-work, whilst also increasing integrity by bringing transparency and greater collaboration among stakeholders. Governance as a Catalyst for Public Sector Sustainability examines the concepts that have powerfully influenced development policy and investigates the role of governance in these institutions and how they have affected current development discourse. Covering topics such as public health sector sustainability, institutional participatory governance, and human resource information systems, this premier reference source is an excellent resource for government officials, policymakers, students and educators of higher education, librarians, researchers, and academicians.
The Fourth Industrial Revolution has disrupted businesses worldwide through the introduction of highly automated processes. This disruption has affected the way in which companies conduct business, impacting everything from managerial styles to resource allocations to necessary new skillsets. As the business world continues to change and evolve, it is imperative that business education strategies are continuously revised and updated in order to adequately prepare students who will be entering the workforce as future entrepreneurs, executives, and marketers, among other careers. The Research Anthology on Business and Technical Education in the Information Era is a vital reference source that examines the latest scholarly material on pedagogical approaches in finance, management, marketing, international business, and other fields. It also explores the implementation of curriculum development and instructional design strategies for technical education. Highlighting a range of topics such as business process management, skill development, and educational models, this multi-volume book is ideally designed for business managers, business and technical educators, entrepreneurs, academicians, upper-level students, and researchers.