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Religion In Family Business

1757 Words8 Pages

Family businesses are fast becoming a dominant form of business enterprises in both developed and developing economies. Their influence can be expected to increase substantially in the future. Succession is one of the most important issues that are faced by many of these family businesses. Succession is defined as ‘the passing of the leadership baton from the founder-owner to a successor who will either be a family member or a non-family member; that is, a 'professional manager’ (Beckhard and Burke, 1983).
Patersen (2013) reported that the inclusion of religious principles in the business fundamentally changes the way they handle a variety of management issues, the way they define success, and the way they experience fulfillment through their …show more content…

In an earlier study by the authors the chance of success of inheritance process was seen to be influenced by the following independent factors: ‘Need for inheritance management’, ‘Owner’s effort for inheritance management’, ‘Family influences’, ‘Inheritor’s strength’, ‘Extent of professionalisation of family business’ and ‘Strength of influencers’. In this study, the changes in these factors with the change in religion are reported.

Religion -Independent Variable
Jina (2014) provides an insight into the strong influence that religion has on family business culture and ultimately on succession planning in family business. Religion influences several management decisions in a formal or informal way. (Jan Degadt, 2003) The study, therefore, focuses on the influence of religion on perceived chance of success of inheritance process in family business.
The case of Indian business communities is slightly different from the generalised pattern observed for the rest of Asia, especially in that such business communities have traditionally evolved within specific religions and castes. All through the history of Kerala, religion has been a significant part of state’s culture. Religions in Kerala are a blend of different faiths, most significantly Hinduism, Islam and Christianity. …show more content…

They share Malayalam culture of Kerala with an Arabian blend. Even during the Pre-Islamic period, Kerala has a very ancient relation with the Middle East. Muslim merchants settled in Kerala by the 8th century AD and introduced Islam. Major populations of Muslims live in Calicut, Malappuram districts in Malabar region. Islamic law governs the way of life of a believer from political aspects, to the etiquette of dining, and to the conducting of business. The defined laws that govern the behavior and activities of a Muslim are collected in the Sharia rulings (Wang and Yung, 2011). The etiquette of business and the laws of succession are found in Sharia rulings (Palliam, 2011). In a study by Jina Ziyad (2013), it was identified that certain religious practices within businesses assisted in the preservation of high level of harmony and collectivism. Burack (1999) found that high level of spirituality within the businesses had induced a high level of harmony. Fernanado and Jackson (2006) report that there is a high spiritual culture among Muslim-owned family

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