To date various studies have been conducted on family business behaviour and how they survive around the world. This is owning to the high prevalence of family businesses in countries around the world and as a result the contribution family businesses make to factors such as GDP and employment. Sustainable family businesses that experience growth and diversification are therefore important in the economies that they operate in. Family businesses are however said to be risk averse when diversification opportunities arise, favouring to forgo growth in favour of the safe keeping of the families’ wealth, known as Socio-Emotional Wealth. This study seeks to discover how family businesses grow by way of diversification and given the dynamics of families and the businesses they run, how do different generations perceive such growth. Thirteen successful family businesses took part in this study, which was exploratory and qualitative in design. Using Socio-Emotional Wealth as a lens for understanding family business decision-making we are able to discover how this framework influences the preservation mind-set. Five themes emerged from the interview data indicating the importance families place on these themes, which included growth; diversification; autonomy; environmental constructs and generational perceptions. The themes that emerged influence the way in which the family business sees growth and ultimately decisions relating to Socio-Emotional Wealth. / Dissertation (MBA)--University of Pretoria, 2014. / lmgibs2015 / Gordon Institute of Business Science (GIBS) / MBA / Unrestricted

Chan, Eunice Shan. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2001. / Includes bibliographical references (leaves 108-119). / Abstracts in English and Chinese. / ABSTRACT --- p.i / CHINESE ABSTRACT --- p.ii / ACKNOWLEDGMENTS --- p.iii / TABLE OF CONTENTS --- p.iv / LIST OF TABLES --- p.v / LIST OF FIGURES --- p.vi / CHAPTERS / Chapter 1. --- INTRODUCTION --- p.1 / Chapter 2. --- LITERATURE REVIEW --- p.5 / Definitions of Turnaround --- p.5 / Causes of Firm Decline --- p.6 / Severity of the Situation --- p.8 / A Western Perspective on Turnaround Responses --- p.10 / Turnaround Success --- p.20 / Turnaround in the Non-U. S. Contexts --- p.21 / Chapter 3. --- THEORETICAL FRAMEWORK AND HYPOTHESES --- p.23 / Organizing Framework --- p.23 / Institutions and Their Impact on Turnaround --- p.26 / Institutional Environment in East Asia and the West --- p.32 / Hypotheses --- p.44 / Chapter 4. --- METHODOLOGY --- p.54 / Research Design --- p.54 / Quantitative Methods --- p.55 / Qualitative Methods --- p.62 / Chapter 5. --- RESULTS --- p.65 / Quantitative Results --- p.65 / Qualitative Evidence --- p.79 / Chapter 6. --- DISCUSSION AND CONCLUSION --- p.97 / Implications --- p.98 / Limitations and Future Research --- p.102 / Conclusion --- p.104 / REFERENCES --- p.108 / APPENDIX 1: INTERVIEW PROTOCOL --- p.120 / APPENDIX 2: ANALYSIS OF FIRMS WITH NON-ETHNIC CHINESE PRINCIPALS REMOVED --- p.121 / APPENDIX 3: ANALYSIS OF FIRMS WITH LOW Z-SCORES --- p.123 / APPENDIX 4: ANALYSIS OF FIRM SIZE --- p.126

Thesis (MTech (Business Administration (Entrepreneurship))--Cape Peninsula University of Technology, 2017. / Family-owned businesses have long played a significant role in the economies of the developed countries and are rapidly becoming an equally dominant force in those of developing countries. Family businesses are also recognised as a potential driver of economic growth and the creation of wealth throughout the world. The significant contribution which family businesses have been making to the South African economy over the last 300 years is made evident by the fact that approximately 80% of businesses in South Africa could be classified as family businesses and the equally compelling fact that they comprised of the order of 60% of the companies which were listed on the (JSE) Johannesburg Stock Exchange during its infancy. The main objective of the study was to determine the drivers of planning for succession in family-owned businesses in the township of Gugulethu in Cape Town in South Africa. The study also undertook to investigate the challenges which family-owned businesses encounter as they endeavour to transfer ownership and control from one generation to the next. The fact that although family-owned businesses contribute significantly to the economy, very often they do not survive a generational transition provides ample justification for undertaking to determine the factors which contribute to successful successions. This research study took the form of a real-time, longitudinal study in which the researcher could experience how the succession process unfolds in the family-owned businesses of the respondents and participants who made up the research sample. The study made use of a mixed methods approach to collect and analyse the data. In the quantitative study, questionnaires were administered to 120 owners and managers of family-owned businesses, while the qualitative data were obtained from in-depth interviews with owners and managers. The quantitative data were analysed using the Statistical Package for the Social Sciences (SPSS) software, while the data which were obtained from the face-to-face interviews were analysed by means of thematic analysis.

Given the predicted increase in the number of family businesses owned and/or managed by siblings (Sibling Partnerships), as well as the lack of understanding and research attention given to such sibling teams, the purpose of this study was to contribute to the more effective functioning of such family businesses in South Africa by identifying the factors that impact on their success. With this purpose in mind, the primary objective was to identify, investigate and empirically test the possible influences of, and relationships between, various factors and the Perceived success of Sibling Partnerships. This study sets out to integrate prior findings and theories on team effectiveness and family relationships, to find support for these theories in the family business literature, and to incorporate these findings into a comprehensive model. The literature study revealed 5 main categories (context, composition, structure, processes, and people) of constructs influencing the Perceived success of sibling teams. Within these 5 main constructs, 13 underlying independent variables were identified and hypothesised to influence measures of effectiveness of sibling teams, namely the dependent variable Perceived success, and the 2 intermediate variables Financial performance and Family harmony. Of the 13 underlying independent variables, 6 were categorised as task-based and 7 as relational-based factors. In addition, hypotheses were formulated for possible relationships between the various task-based constructs (context, composition and structure) and the processes and people constructs. Each construct was clearly defined and then operationalised. Operationalisation was done by using reliable and valid items sourced from tested measuring instruments used in previous studies, as well as several self-generated items based on secondary sources. A structured questionnaire was made available to respondents identified by means of the convenience snowball sampling technique, and the data collected from 371 usable questionnaires was subjected to various statistical analyses. An exploratory factor analysis was conducted, and Cronbach-alpha coefficients were calculated to confirm the validity and reliability of the measuring instrument. The 6 task-based latent variables were confirmed by the exploratory factor analysis. However, all the other latent variables, as originally intended in the theoretical model, could not be confirmed. Instead, 3 dependent variables were identified, namely Financial performance, Growth performance and Satisfaction with work and family relationships, and 6 relational-based constructs, with some changes, did emerge. Structural Equation Modelling (SEM) was the main statistical procedure used to test the significance of the relationships hypothesised between the various independent and dependent variables. Because of sample size restrictions the conceptual model could not be subjected to SEM as a whole; consequently 10 submodels were identified and subjected to further analysis. The following independent variables were identified as influencing the dependent variables in this study: • Internal context • Complementary skills • Leadership • Shared dream • Fairness • Sibling relationship • Non-family members • No other family members (spouses and non-active siblings) In addition, the factors Complementary skills, Leadership, Past parent involvement, No present parent involvement, and No other family members, were identified as significantly influencing the relationship between the siblings involved in the Sibling Partnership. Furthermore, an Analysis of Variance (ANOVA), Multiple Linear Regression analysis and t-tests were undertaken to determine the influence of demographic variables on the dependent variables. How ownership is shared in a family business involving siblings, the shareholding between the siblings themselves, and the nature of leadership between the siblings, has been found to influence the iv dependent variables in the present study. In addition, a Sibling Partnership is likely to perform most effectively when it is composed of a relatively young sibling team that has a small age gap between the members, and business performance will improve as the siblings gain work experience together, and as the number of employees increase. This study has added to the empirical body of family business research by investigating a particularly limited segment of the literature, namely Sibling Partnerships in family businesses. By identifying and developing various models that outline the most significant factors that influence the success of such family business partnerships, this study offers recommendations and suggestions for managing family businesses involving siblings, in such a way as to enrich their family relationships and to improve the financial performance of their businesses.

Thesis (MBA (Business Management))--University of Stellenbosch, 2009. / AFRIKAANSE OPSOMMING: In die navorsingsverslag het ons geleer dat dit belangrik is om kennis te dra van menslike gedrag. As ‘n mens ‘n goeie idee het hoe mense funksioneer en dinge doen, sal dit makliker wees om saam te werk en om mekaar beter te verstaan. Die skrywer het in hoofstuk twee gevind dat konflik ‘n positiewe invloed kan hê op die transformasie van ‘n seun/dogter in ‘n familiebesigheid. In Hoofstuk 2 word die belangrikheid van kommunikasie in enige besigheid, en veral in ‘n familiebesigheid, beklemtoon. Die skrywer het gevind dat daar nie ‘n groot verskil tussen De Villiers (1985) se studie en dié studie is nie. Hier is ‘n paar verskille wat in Hoofstuk 5 uitgelig is. Seuns en vaders weet nie regtig wat die seun se rol in die familiebesigheid is nie. Hierdie probleem kan direk toegeskryf word aan swak kommunikasie. In Hoofstuk 2 kan ons lees hoe belangrik kommunikasie is. Daar is geen strategie hoe die vader die besigheid gaan verlaat nie. Dit is belangrik om so ‘n verlatingsstrategie op papier vas te lê. Die rede vir so ‘n strategie is om ‘n doel te hê om na te streef en om daarna te werk. Dit kan as ‘n plan gesien word om vas te stel wanneer die vader kan aftree en die seun kan begin planne maak vir sy toekoms. Seuns en vaders het verskillende opinies. Marshack (2003) verwys in Hoofstuk 2 dat die jonger generasie deur konflik ‘n merk in die besigheid kan maak, maar dit hang af of hulle met ‘n doeltreffende oplossing vorendag kan kom vir die konflik of die probleem. In Hoofstuk 2 kan meer oor konflik gelees word. Die skrywer van hierdie navorsingsprojek hoop dat die lesers meer duidelikheid sal hê oor die onderwerp en die implikasies in bestuur en mensevehoudings as ‘n seun/dogter die familiebesigheid betree. / ENGLISH ABSTRACT: In this research report we learned how important it is to have an understanding of human behaviour. If one has a good understanding on how people function and operate, it is easier to work with other people and it is easier to understand one another. The writer learned that there is not a big difference between the results of the study done by De Villiers (1985) and this study. There are a few differences that can be found in Chapter 5. Sons and fathers are often confused on what role the son plays in the family business. This problem is usually a direct consequence of bad communication. In Chapter 2 we can read how important good communication is. There is often no exit strategy for the father in the family business. It is important to have an exit strategy on paper. The reason for an exit strategy is to have a goal to work towards. This is just a plan to see when it will be possible for the father to retire, and for the son to make plans for his future. Sons and fathers usually have different opinions. Marshack (2003) says in Chapter 2 that through conflict the younger generation can make a mark in the business if they come up with a proper and different solution. In Chapter 2 you can read more about resolving conflict. The writer hopes that you will have more answers on the implications in management and human relations when a son/daughter enters a family business after studying this research project.

published_or_final_version / Business Administration / Master / Master of Business Administration

Submitted by Filipe dos Santos (fsantos@pucsp.br) on 2018-05-07T12:57:04Z No. of bitstreams: 1 Renata de Fátima Fortes Bueno.pdf: 3005279 bytes, checksum: 76b742d91d1490e8e52e003d4111617f (MD5) / Made available in DSpace on 2018-05-07T12:57:04Z (GMT). No. of bitstreams: 1 Renata de Fátima Fortes Bueno.pdf: 3005279 bytes, checksum: 76b742d91d1490e8e52e003d4111617f (MD5) Previous issue date: 2018-03-15 / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior - CAPES / This research is aimed at understanding the motivations that an heir has for their own career and also understanding how family relations could influence their choices, seeking to analyze the benefits as a tool from the narrative practice: "Professional Tree of life of an Heir”, as a set to express feelings, and complementing traditionally techniques once used in the process of career’s orientation. This qualitative research was accomplished working with eighteen heirs, through semi-structured interview and a genogram. It was complemented with the acceptance documents of six of these eighteen heirs to experience the tool the tree of life. To analyze the results, we proceeded by using techniques of triangulation in order to deepen and enrich the information collected. The relationship between heir and family was understood according to a systemic view taking into account the construction of the heir's personal and professional identity through the process of differentiation as well as family loyalties. The results showed how beliefs, values and family references are fundamentally recognized in the construction of personal skills, professional choices and future projections, taken from the Heir's Professional Tree of Life. They also showed how the differentiation process with the original family and feelings of loyalty had interfered with the professional choices inside the family’s business. These results strengthen our belief that giving voice to an heir is invaluable, as the Heir's Professional Tree of Life also is to this research. (Apoio Capes) / Esta pesquisa teve como objetivo compreender o olhar e as motivações que o herdeiro tem sobre sua própria carreira e como as relações familiares influenciam a sua escolha, buscando analisar os benefícios da utilização da ferramenta advinda da prática narrativa: Árvore da vida profissional do herdeiro, como espaço de expressão dos sentimentos, complementando as técnicas tradicionalmente usadas no processo de orientação de carreira. Tratou-se de uma pesquisa qualitativa realizada com 18 herdeiros, por meio de uma pesquisa semiestruturada, genograma e complementada com o aceite de seis desses 18 herdeiros para vivenciarem a ferramenta da árvore da vida. Para análise dos resultados, procedeu-se a triangulação das técnicas utilizadas visando a um aprofundamento e enriquecimento das informações coletadas. As relações herdeiro–família foram compreendidas de acordo com uma visão sistêmica, levando em consideração sobretudo a construção da identidade pessoal e profissional do herdeiro por meio do processo de diferenciação bem como das lealdades familiares. Os resultados mostraram ainda como as crenças, valores, referências familiares são reconhecidas como fundamentais na construção das competências pessoais, nas escolhas profissionais e projeções para o futuro, oferecidas mais especificamente pela Árvore da vida profissional do herdeiro. Mostraram também o quanto o processo de diferenciação da família de origem e o sentimento de lealdade pesam nas escolhas profissionais em uma família empresária. Tais resultados fortalecem nossa crença da necessidade de dar voz ao herdeiro e de que a Árvore da vida profissional do herdeiro é uma ferramenta valiosa para favorecer essa tarefa. (Apoio Capes)

A research report submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, in partial fulfilment of the requirements for the degree of Master of Management specialising in Entrepreneurship and New Venture Creation Johannesburg, 2016 / Very little information seems to exist on the role of women in South African family owned businesses. Women in family businesses need to be recognized in order to highlight the constraints they may be facing and their contributions to the economy. The purpose of the study is to determine how human and social capital variables can empower women in family businesses to enhance their success or address their challenges. This research study follows a positivistic paradigm and a questionnaire was developed to assess the research objectives. The questionnaire was sent out to a sample of 200 females involved in family owned businesses from South Africa and 150 responses were received. The findings revealed that at lower levels of education, females were the key decision makers for business expenditure, borrowing and investment decisions. With regards to experience inside and outside of the family business, decision making was shared between males and females with the exception of business expenditure decision making at 0-5 years experience inside the family business. Furthermore, decision making was generally shared between males and females for most of the social capital variables, with the exception of using or relying on partnerships where females did not play apparent decision making roles. Practical recommendations from the findings for women in family owned businesses include shifting from operational to more strategic decision making; gaining experience outside of family owned business to strengthen decision making capabilities; which in turn, would empower them to tackle riskier elements of social capital, like relying on partnerships and conducting business on trust. / MT2017

Weakness in corporate governance and lack of transparency are often considered causes of, or contributors to, the Asian Financial Crisis. Publicly listed companies in Indonesia, like other Asian firms, have a concentrated ownership structure. Focusing on manufacturing firms listed on the Jakarta Stock Exchange (JSX) for the year 2003, this study adopts an agency framework to examine voluntary disclosures included in the annual reports of 149 Indonesian firms and their relationship to various attributes such as: ownership structure; whether a firm is family-owned or not; the owner's involvement in either the Board of Commissioners or Board of Directors; and whether the firm is affiliated with a business group. The results mostly support the notion that ownership structure affects the extent of disclosure in annual reports. First, the results show that, compared to firms with a nonmajority ownership structure, voluntary disclosure is lower in firms with a majority ownership structure. Second, the results indicate that family owned firms are more likely to exhibit lower voluntary disclosure than are non-family owned firms. Third, the analysis shows that, among family firms, firms with a majority (compared to those with a non-majority) ownership structure are more likely to have lower levels of voluntary disclosure. Fourth, the results indicate that, among family firms, firms affiliated with a business group are more likely to make lower voluntary disclosures than independent firms. In contrast, the empirical analysis failed to support the hypothesis that, among family firms, voluntary disclosure would be lower in firms where the owners are involved in the Board of Commissioners compared to those where there is no owner involvement in the Board of Commissioners. Similarly, the results failed to support the hypothesis that, among family firms, voluntary disclosure would be lower in firms where the owners are involved in the Board of Directors compared to those where there is no owner involvement in the Board of Directors. Robustness checks performed using alternate measures of disclosure and the degree of ownership structure did not substantially change the conclusions. This thesis contributes to our understanding of how family firms are governed and the impact of corporate governance on a firm?s level of voluntary disclosure. The results have implications for policy makers and regulators in Indonesia striving to improve corporate governance and transparency.

Despite the fact that small family and non-family businesses in South Africa are important contributors to economic and social development, their failure rates are still high globally. Major contributing factors to this high failure rate are the lack of marketing skills and ineffective marketing practices. Therefore, the primary objective of this study was to establish what marketing mix strategies are used by small family and non-family businesses in the Eastern Cape and the influence of these strategies on Perceived business performance. The literature review dealt with the nature and importance of marketing, and the traditional marketing mix strategies were elaborated on from a small family and non-family business perspective. The traditional marketing mix strategies (4Ps) identified as influencing the Perceived business performance of small family and non-family businesses, were classified as Product-, Pricing-, Place-, and Promotion strategies. From the literature review, it was evident that the traditional marketing mix strategies have been criticised by a number of studies as not reflecting the holistic marketing concept within the 21st century. Yet, despite its simplicity various studies still find the traditional 4P framework to be a strong staple of the marketing mix. In this study, a quantitative research design was adopted and an exploratory and descriptive research approach of a cross-sectional nature were undertaken. A convenience sampling technique was used owing to the inaccessibility of a small family and non-family business database. The sample size in this study consisted of 195 small family-owned businesses and 145 small non-family businesses operating within the borders of the Eastern Cape. The primary data in this study was gathered by means of a structured, self-administered questionnaire. The measuring instrument was developed by sourcing items from several existing studies. Small family and non-family businesses were approached by fieldworkers and asked to participate in this study. In total 400 questionnaires were distributed, of which 340 were usable for further statistical analyses. Therefore, an effective response rate of 85% was achieved in this study. The validity and reliability of the measuring instrument were confirmed by means of an exploratory factor analysis (EFA) and by the calculation of Cronbach„s alpha (CA) coefficients. The five usable factors that were extracted from the EFA were identified as Pricing strategies, Competitive distribution strategies, Communication process strategies, Low cost promotion strategies and Perceived business performance. The CA coefficient for Pricing strategies indicated that the scale measuring this factor was not reliable due to it falling below the accepted norm of 0.6 and, therefore it was disregarded from further analysis. The CA coefficients returned for the remaining usable factors extracted from the EFA were greater than 0.6, thus indicating the scales measuring these variables provided satisfactory evidence of validity and reliability. The findings of the descriptive statistics showed that the highest mean score reported was for the independent variable Competitive distribution strategies, followed by Communication process strategies and Low cost promotion strategies. Based on the mean, respondents indicated that they often utilise Competitive distribution strategies and Communication process strategies, and seldom utilise Low cost promotion strategies. Pearson‟s product moment correlations revealed that all the marketing mix strategies, for both small family and non-family businesses, investigated were found to be significantly and positively correlated with the dependent variable Perceived business performance, and amongst themselves. The findings of the MRA showed that utilising Competitive distribution strategies have a significant positive influence on the Perceived business performance of small family businesses. The finding implies that the more small family businesses in this study provide high-quality and competitive products through distributions process methods by setting timing objectives, using distributions selection criteria and changing the distribution channel when needed to continuously satisfy customers‟ needs, the more likely the business is to experience growth in profit and sales and having loyal customers who make regular purchases and recommend the business to others. This study found no relationship between Competitive distribution strategies and the Perceived business performance of small non-family businesses, as well as between Communication Process strategies and Low cost promotion strategies and Perceived business performance of small family and non-family businesses. The results of the t-tests revealed that no statistically significant relationship was found between the Type of small business ownership and any of the three independent variables, Competitive distribution-, Communication Process-, and Low cost promotion strategies. Furthermore, the results of the Chi-square test for independence reported no statistically significant difference between using the family name as a marketing or branding tool and the size of the small business in this study. The results, however, indicated that as the business size increases, the more small businesses use their family name as a marketing- or branding tool. From the 18 sets of null hypotheses that were formulated, to explore whether the demographical variables had an influence on the marketing mix strategies utilised by the small family and non-family businesses, only 11 multivariant analysis of variance (MANOVA) relationships could be established as being statistically significant. These include the Gender of the business owner/manager, Age of the business owner/manager, Management qualifications of the business owner/manager, Ethnicity of the business owner/manager, Position in the small business, Years small business is in existence, Working experience of the business owner/manager, Management working experience of the business owner/manager, Form of business ownership, Area of business premises and Target market of the small business. This study has addressed a gap in the current literature regarding the influence of marketing mix strategies on business performance among small family and non-family businesses in a developing economy such as South Africa. This study has furthermore attempted to enlarge the body of knowledge available on marketing, especially concerning Communication Process, Competitive distribution strategies and Low cost promotion strategies. The results of the study differ somewhat from existing literature, and therefore add to the body of knowledge on marketing. Furthermore, the findings of this study show that small family businesses utilising Competitive distribution strategies have a significant positive influence on their Perceived business performance, and in doing so makes a small contribution towards increasing the success rate of these small family businesses and in return positively contribute to the economic growth and development of South Africa.