A business needs to be dynamic and adjustable to survive in the ever-changing marketplace in which it operates. The environment is no longer merely the immediate domestic business environment within which the specific business operates but also, with the advent of information technology and globalisation, overseas markets. This is true for all businesses and no less so in respect of family businesses. Balshaw (2003:23) lists the many issues which impede family businesses as, amongst others: Unresolved family and personal issues; Dysfunctional relationships; Poor communication; Lack of commitment; No succession plan or timetable; Inability of the senior generation to relinquish control; No unifying vision or dream in the family; Open conflict; Nonexistent decision-making and governance structures; Lack of transparency and openness; Failure to plan strategically. In addition to this the business must be aware of and react to the changing circumstances in the environment.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:nmmu/vital:10927 |
| Date | January 2003 |
| Creators | Tuck, Gaynaé |
| Publisher | Port Elizabeth Technikon, Faculty of Management |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Thesis, Masters, MBA |
| Format | xv, 120 leaves, pdf |
| Rights | Nelson Mandela Metropolitan University |
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