Abstract
In publicly held firms, the personal objectives of the individual manager (e.g., personal gain, power, social responsibility) are disciplined by the need to deliver value to shareholders. In family firms, where the CEO is often the controlling shareholder, personal and family objectives can become firm objectives. As family businesses account for the majority of all business establishments making purchases and an estimated 50% of all business purchasing, it is important to understand the range of CEO motivations for the business, and the impact of those motivations on purchasing attitudes and behaviors. Family business CEO motivations are profiled through the technique of psychographic segmentation, and implications for organizational buyer behavior are examined.
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