ipl-logo

The Importance Of Family Business

2848 Words12 Pages

Introduction:
Family-owned businesses are the backbone of the economy as they create wealth, provide jobs, are locally rooted and connected to communities. They seem to be around for long period of time. From historical view point, keeping in mind the evolutionary reasons, most countries have family businesses constituting the largest category in terms of ownership; estimates do vary, but is above 75 percent in all cases. About one third of the companies listed in Fortune 500 are family businesses (Lee 2004). Since they normally do not have short term orientation and are interested in growing the family wealth with necessary precautions with a different set of strategic goals compared to non-family owned private companies, (Ward, 1987), their long term contribution to economy is significant. This is true with the Indian economy too. Families are united over generations by their vision, values and emotional bondage. There is growing realization that families have a social role to fulfil and be responsible for specific activities including community development through charity (Gallo, 2004). However, long term sustenance of family business depends on its smooth survival across generations.

Review of Literature:
Currently, family-business research is largely descriptive rather than prescriptive. Most of the literature that has taken a prescriptive approach has done so from the perspective of how to improve family relationships rather than business performance. Dyer (1988)

Show More
Related

  • Summary Of Realization What You Re Made Of By Mangurain

    699 Words  | 3 Pages

    The authors’ views are on point and applicable to both personal life and corporate. Glenn Mangurian story is both informative and

    Read More

  • The Genesis Of Industrial America By Greedy Robber Barons

    1473 Words  | 6 Pages

    Before industrial tycoons rose to power, many small firms and businesses composed the American economy, with competition balancing powers and avoiding an individual company

    Read More

  • Review Of The Article Society's Well-Being Depends Upon The Traditional Family

    864 Words  | 4 Pages

    Jean Bethke Elshtain presents a critical perspective about the deteriorating state of the family in contemporary society in her article, “Society's Well-Being Depends upon the Traditional Family”. By employing rhetorical strategies of ethos, logos, and pathos, the author constructs a persuasive case that calls for renewed focus on the family as the fundamental unit of society. Elshtain builds her argument through a combination of rhetorical strategies, including the use of ethos, logos, and pathos. Each of these elements contributes to her overall argument and the extent to which her rhetoric succeeds in convincing readers of the urgency in addressing the challenges faced by the family unit.

    Read More

  • Familism In Latino Families

    548 Words  | 3 Pages

    Moreover, this is because, “women are more likely to have a relational orientation than men” (Campos, Aquilera, Ullman, & Schetter, 2014, p. 192). Women are usually the ones that maintain the family bonds and benefit more of the closeness and support from the family. Nevertheless, women still feel more compromised of keeping the bond, and if an issue surges they are more likely to stress due to the conflict (Campos, Aquilera, Ullman, & Schetter, 2014). • Around the world, it appears familism is coming to an end. What are the economic, political and cultural implications of the changes underway in the traditional family unit?

    Read More

  • Analysis Of Fences, By Zora Neale Hurston

    1323 Words  | 6 Pages

    The breadwinner-homemaker family, the norm since the dawn of the Industrial Revolution in the 19th century, is being replaced by a new norm of diversity” (Schulte). Family life in the 1950s is one of the most looked back upon generations, because it was so closely following the second World War, and was the beginning of the Baby Boomer generation. Because a lot of the soldiers were returning from the war to their wives to have children, the

    Read More

  • How Did A Big Business Affect The Economy During The Gilded Age

    902 Words  | 4 Pages

    Throughout American History, business has been the vital foundation of economy and political stance. Most Prominently during the Gilded Age, when the economy grew at a fast pace due to large businesses who controlled most things. Furthermore, significant companies such as oil, railroad, and steel businesses were responsible for giving a path to a greater economical standpoint in the United States. Companies during this era whom had major importance, had the ability to control the economy with one command because they controlled a spot in politics and also had major controlling over the people that worked for them. Many Americans had to depend on these big businesses for a job and also for either transportation or the products that the businesses

    Read More

  • Critical And Significant First Step In The Social Work Process

    2396 Words  | 10 Pages

    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.

    Read More

  • Postmodern Approach To Family Therapy

    1568 Words  | 7 Pages

    Families are said to constitute realities in which most of one’s attributes are constructed, based on the family interactions, beliefs, values as well as the behaviours that are seen in the specific families one is brought up into (Archer & McCarthy, 2007). However, even though most of one’s personal characteristics may be heavily influenced by their families; people do have a sense of individuality that makes them unique from any other person in the family (Becvar & Becvar, 2013). Therefore, one may argue that it is these differences that may cause misunderstandings in families.

    Read More

  • Family Systems Theory Case Study

    722 Words  | 3 Pages

    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.

    Read More

  • Strengths And Weaknesses Of Family Theory

    1359 Words  | 6 Pages

    Family theories have been used throughout the history of nursing to help guide patient care and provide the best patient outcomes. Certain theories may be more applicable to the specific patient encounter; however, each theory has benefits and drawbacks to their use. The purpose of this paper is to examine two selected theories, comparing their strengths and weaknesses. I will also discuss a theoretical family in relation to one theory, and how that theory can be best integrated into the care provided by an Advanced Practice Nurse (APN). Description of Theories

    Read More

  • Advantages And Disadvantages Of American Families Today

    1040 Words  | 5 Pages

    American Families Today The American family has undergone many changes since the 1900’s. More so, in the past 40 years, the nuclear family seen dramatic changes and has been described as deteriorating. There has been a dramatic rise in divorce, single parent households and child poverty. Studies have shown that children growing up in poverty-stricken single parent households are more likely to be affected well into adulthood. While this is the case, people are also living longer, and families are accommodating this change by living with relatives allowing for more bonding time then in previous generations.

    Read More

  • Vega Food Company Case Study: Vega Food Company

    1201 Words  | 5 Pages

    1) The Vega Food company case holds a rich content of family culture and dynamics that discuss the level of classiness in the complexity of the family–business relationship. The case discusses the various things that scheme against shareholder loyalty. Some of the following are: the need of growing families, the differing needs of financial decisions, the influence of the spouses, the instant fulfillment–shareholder value of Wall Street, the tendency for zero-sum dynamics in the absence of business growth, and the differences in a viewpoint across generations or the employment status in the firm. The main aim of Vega Food company insures to learn about the relationship within family, management, and ownership practices that go into making a loyalty tag amongst the shareholders and keep the family–business link healthy. 2) Relationships amongst members’ works as a significant factor in the key to success of any family business.

    Read More

  • Modern Family Case Study

    1217 Words  | 5 Pages

    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.

    Read More

  • Millennials: Intergenerational Issues In The Workplace

    1024 Words  | 5 Pages

    This eventually hinder the success of organizational and employee goals and objectives. It is important that all generations work together in harmony to complete business

    Read More

  • Essay On Family Values

    1145 Words  | 5 Pages

    I believe that every family has their own roots, essence, uniqueness, beliefs and thoughts, some families have both parents, some just the mother, just the father, two mothers or two fathers, they might have an only child or two, or maybe 5 or even 10, therefore, those children start learning all these things from their family and surroundings, they ask questions, they imitate each other’s actions and are constantly learning and trying to catch as much information and experiences as possible. Children are growing fast, their parents are their role models, they learn mostly from them; parents have the tremendous job of forming good citizens that provide to society, healthy and happy beings that keep growing as humans in every stage of their

    Read More

More about The Importance Of Family Business

Open Document