Abstract
The purpose of the research on which this paper is based was to test and validate the decision-making model previously set up by the authors. The model presents the internal factors influencing the decisions of family businesses regarding capacity expansion and the possible decision outcomes. The distinctiveness of the model is that it presents the internal factors affecting decisions related to capacity expansion, thereby helping family businesses to make decisions. For collecting data, both qualitative and quantitative techniques were used. As qualitative data collection techniques, in-depth interviews and focus group interviews were conducted. As quantitative method, an online questionnaire was used, whose questions were compiled based on previous research of the authors. The questions indirectly assess the internal factors influencing capacity expansion decisions of family businesses and the possible outcome of the decisions. The questionnaire was sent to the VOSZ (National Association of Entrepreneurs), MAPI (Hungarians on the Market Club) and the Association of Family Entrepreneurs, which means approximately 500 addresses. After data cleaning, 135 completed questionnaire were analyzed with SPSS software. In-depth interview was conducted with the heads of five family businesses, whose results were analyzed using tagging and artificial intelligence. The model previously set up by the authors was validated by both qualitative and quantitative research. It can be concluded that the following three internal factors influence the decision of family businesses regarding capacity expansion: socio-emotional wealth, cooperation between generations, and heterogeneous top management team. The family businesses themselves are not necessarily aware of this, so the model enriches the scientific literature and helps in the conscious operation of family businesses.
Published Version
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