Factors influencing the sustainability of Family Business
1.1 Overview
This chapter covers the background of study, which is the factors influencing the sustainability of the family business like small medium-sized enterprise in Malacca. The family businesses are the important part of the business which it contributes so much of strategic planning and succession planning to business. In meanwhile, the explanation is provided in the justification of the study and the scope of this research is also identified. Lastly, we also defined some element which contributes to sustainability of family business.
1.2 Background of Research The family business is defined as the majority of the decision of the commercial organization is making or influencing
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The education level of their offspring provided by their parents in term of formal and informal (M. Morris, R. Williams, D. Nel et al, 2012). Another that, the training or the years of work experience in the company or outside company. As we know entrepreneurship (business course) was offered in many universities. So, the knowledge and concepts of business provided in universities can help the heirs avoid the risks in management (I. Bili, A. Prka, G. Vidovi, 2011). From the previous studies level of preparation of heirs has been discussing the impact toward continuity of family business operates. The preparation level of heirs exists and identified as the variable affect the continuity of the family business …show more content…
Morris Roy W. Williams Deon Nel. (1996). Factors influencing family business succession. International Journal of Entrepreneurial Behavior & Research , volume 2 (3), pages 68-81. and N. Buang, Ganefri, S. Sidek. (2013). Family Business succession of SMEs and post-transition business performance. Asian Social Science , volume 9 (12 SPL ISSUE), pages 79-92.
There are 3 parts in the questionnaire form. The first is the introduction which clearly informs the respondents the purpose of the research. Besides it also conveys to the respondent the positive thought and motivate them honestly answer the questions in the questionnaire so the information provided by them is more frankly and less biases. The second part is question about factors influencing the sustainability of family business. All of the question form is guiding from the table above to obtain the primary information of this study needed. The third part is demographic data of the respondents like their age, gender, net income or job status. All of this information is important like net income and job status for explanation and justification of intention of heirs’ takeover the family business. In the meanwhile,
As our country reached the late 1800’s, Americans found themselves face to face with era known as the ‘Gilded Age’. Companies were created and grew rapidly during this time period. Some of the most famous entrepreneurs were John D. Rockefeller and Andrew Carnegie, who seemed to be the perfect models for the ‘rags to riches’ story. Many people debate which entrepreneur was a better role-model. Due to his low prices, the high demand for his products, and the way he sought to eliminate any possible competition, John D. Rockefeller is clearly the better role-model for today’s entrepreneurs.
To determine the families role, the Social workers should assess the various roles family members play in order to better understand family functioning. Understanding Families: Family Assessment (Page 339). Gathering information about family structure, function, and needs does not have to be restricted to structured interviews. Getting to know your clients family and the role they will play in each other 's lives will save a great deal of time in the long run.
• What are your experiences with family? Are you familiar with the concept of familism? How do you personally feel about extended family and how it affects family life and
Introduction Homer Stryker, an orthopedic surgeon, founded Stryker Corporation after World War II. Stryker Corporation was established to create new medical tools and improved medical procedures for patients to help them heal faster and more efficiently. In order to sustain their twenty percent rate of return, and to generate continuous growth and innovation, Stryker relies heavily on acquisitions. One of Stryker’s more notable and largest acquisitions was Howmedica worth $1.65 billion. Large acquisitions can be risky, so we will access Stryker Corporations industry factors and explain why their detailed capital expenditure process works.
From Yosso’s article I choose to do it on Culture Capital Narrative on Familial Capital. Familial Capital is a capital about information on family and extended family that has given your life by their own memories and cultural values. Familial Capital is a theme I can really connect well with my family and myself. My family has given me information on their on life and personal experiences they have gone through and cultural values they follow and respect.
Family structure talks about family arrangement and composition which includes the roles and interactions (Edelman, 2014). According to Minuchin (2012), the family structural theory emphasis on the important of the family structure and its changes that occurs and how the individuals in the family relate collectively over time to put up and accept each other. Minuchin says further that a well-functioning family will choose how to solve and handle the family experience with a positive outcome. The goal of a structural family is to express the strengths in each other in critical moments, and helping each other through it. Developmental theory is the methods used as the viewpoint of family tasking and development through phases of life (Edelman, 2014).
Firstly, profit is an essential part of company to get good profit and challenge with others. Secondly, planet, corporations should be concerned about their environmental impacts. Lastly, people, companies should be concerned about consequences to communities. From my perspective, companies should balance these three categories, if they want to achieve their goals. This research paper will examine about the sustainability of Walt Disney Company base on triple bottom line.
Introduction A famous film star, Katherine Hepburn once stated, “Death will be a great relief. No more interviews.” Even though Hepburn was probably interviewed too many times and asked many questions, most social workers must utilize the interview process to make assessments of their clients. An accurate assessment is critical and significant first step in the social work process.
Client (s) name: The Smith Family- Jackie & Larry Smith, Janerio Fells, Alexis Young Description of the Problem- The Smith family is being torn apart by miscommunication and the fact that Janerio (the son of Jackie and Larry) is having a hard time with accepting the fact that another man has moved into the home. Larry and Jackie have no children together. The two children are from a previous relationship.
From this scenario, I have learned about systems theory as well as other psychological theories such attachment theory. Firstly, based on my research on “Family Systems Theory “(Murray B.) family systems theory suggest that an individual, in this case, Sinead, cannot be understood as an individual alone but instead as part of a family as a family is an emotional unit. Families in every aspect are systems of interdependent and interrelated individuals that cannot be understood if a single person is isolated and examined. Each member in the family, has a specific role to play and a set of rules in which they must follow. Maintaining a certain system in the family may lead to balance in the family but also to huge dysfunction.
Businesses have been playing a crucial role in people’s lives. No matter what they go or what the occupations they are; people are drawn to get involved in businesses. However, behind the scenes of the business thriving, the environment is deteriorated each day. Many development schemes are come up with the plan related with the depletion of the environment (Shah, 2002). Because of people and environmental damages, attentions were drawn to corporations for ensuring their sustainabilities.
Introduction Sustainability has been mentioned as a goal of businesses. During the mid 1990s John Elkington created the triple bottom line plan under the concept of sustainability. Sustainability can be defined in many ways, but the simplest way is “Ability to sustain” (Sustainability, 2010). The triple bottom line is an accounting framework, and there are three dimensions of sustainability among them people, planet and profit (3Ps). The concept of TBL is to measure the profitable, social and environmental performance of the company.
Introduction In this case study, it analyse how the concept of family has changed in the past 20 years as it will be depicting modern family forms and past norms. It is important to look at how families have developed throughout the years up until the 21st century as we compare the two and elaborate on the difference and what makes it so significant. In this case study, it contrast and compare the television series Modern family which is a 21st century concept of family and The Simpsons which was adapted 27 years ago and how things have changed with family dynamics and what is the norm now which was not the norm years ago.
Bowen family systems theory is used for understanding both family emotional and relationship processes (Knauth, 2003). Kolbert, Crothers, and Field (2013) suggest that although there are few publications on Bowen family systems theory, it provides counsellors with a framework for clients, specifically with helping adolescents understand how their functioning and identity have been influenced by their family. Bowen’s differentiation of the self has been argued to be equivalent to identity, and an individual’s balance both togetherness and individuality within their family, family members are both borrowing and lending aspects of themselves between each other (Kolbert, Crothers, & Field, 2013). Bowen, (1978, p. 188) suggested that individuals
Literature Review: The purpose of this chapter is to present a review of literature relating to start-up business. The following are the literature review by different authors and different research scholars. Weiss: made a study in US and concluded that small businesses are generally less efficient when compared to large administrative companies and concluded that on an average, about half of total shipments in the industries covered are from suboptimal plants.