Development Of Family Businesses Research Articles

DIGITАL ЕСОNОMY АS А FАСTОR IN IMPRОVING THЕ STАNDАRD ОF LIVING THRОUGH SMАLL BUSINЕSS АND FАMILY ЕNTRЕPRЕNЕURSHIP

The article focuses on the development of family entrepreneurship in the context of Uzbekistan's digital economy. It discusses key legal acts and strategies aimed at supporting small businesses, creating jobs, reducing poverty, and improving living standards. The article also provides an analysis of statistical data on the growth of family businesses and their contribution to the country's industrial output. Recommendations are made for further development of family businesses using digital technologies.

Dancing with Change: A Conceptual Analysis of How Family Businesses Embrace Product Development Management

Understanding product development management is crucial, particularly within the context of family businesses, which are renowned for their resistance to change. Family firms demonstrate a paradox in innovation: while inclined toward calculated risk-taking, they often invest less in R&D compared with non-family businesses. This article explores the evolving landscape of product development management literature related to family businesses. It achieves this by meticulously examining pertinent scholarly works. Conducting a systematic review focused on family businesses’ product development management practices. This article poses the following fundamental question: What prior research has delved into the intersection of family businesses and product development management? The authors adopted the updated Preferred Reporting Items for Systematic Review and Meta-Analyses (PRISMA) reporting guidelines to ensure transparency and completeness in their systematic literature review. The research process hinges on accessing academic databases housing peer-reviewed journals, which initially yielded 955 articles. Through a series of discerning study selection phases, this number was pruned down to 68 articles eligible for further assessment. Ultimately, this study incorporates insights from 22 articles. Within the domain of product development management, the responsibility is typically divided among three key parties: marketing, design, and manufacturing. Notably, the findings underscore a predominant emphasis on the marketing perspective in the existing literature. Consequently, this article calls for future research endeavors to delve into the roles of design and manufacturing in the context of family business and product development management.

Digital Competencies of Students Towards the Development of Intergenerational Family Business

Abstract The development of entrepreneurial education programs in universities have a positive impact on the intentions of students to run their own businesses. The aim of the article is to demonstrate that the generation's digital competencies could play an essential role in the development of intergenerational family businesses. The third-generation family members have grown up with technology and possess a unique set of skills and knowledge that can be leveraged to modernize and improve their family business. Research was carried out in 2023 at the University of Ruse with 434 learners. The study shows that students' intention to become entrepreneurs is significantly altered as a result of the acquisition of basic digital skills and competencies.

High-quality development of family businesses in the post-epidemic era under the moderating effect of the business environment in China

ABSTRACT This paper analyzes the high-quality development of family enterprises in the context of multiple goals and situational factors, using A-share listed manufacturing family enterprises from 2008 to 2022 as empirical research samples. The research finds that there may be an optimal balance effect between family ownership and corporate governance in the process of achieving high-quality development for an enterprise; the business environment weakens the role of family ownership in the high-quality development of the enterprise. This further shows that the key to achieving high-quality development of family enterprises is coordinating multiple objectives, which provides insights for further exploration of development in the post-pandemic era.

Innovation and Family Business in the Digital Age: A Systematic Literature Review

Objective: Identify the factors, characteristics, strengths, challenges, and opportunities that are required in family businesses (FB) to face innovation in the digital age. Theoretical Framework: Reviewed information on the development of family businesses in the digital age and the needs for innovation. Method: An exploratory study was carried out, for the analysis and selection of information, the PRISMA method and hermeneutics were used; In addition, publications from the last five years (2019-2023) from repositories such as Web of Science, Scopus, ScienceDirect, among others, were included. Likewise, the review of 55 scientific articles has been systematized using MS Excel software. Results and discussion: The factors were trends, consumer preferences, increasing competition, internal competencies and business model knowledge. Characteristics highlighted were transgenerational entrepreneurship, values and new forms of digital integration at kinship and genealogy level. Strengths were the ethical attitude, trust, identification and involvement of family management. Challenges were the digitalization of companies, the use of ICT, unlocking the conservative mentality and the defamiliarization of the company. Research Implications: It demonstrates the need to include FBs in the economic theory for study, as well as the consideration of practical specificities for their sustainable development. Originality/value: This study contributes to the literature to proceed with the innovation of a family business in the digital age, considering factors, characteristics, strengths, challenges and opportunities within an innovation ecosystem.

Sustainable Development of Chinese Family Businesses: Exploring the Role of Succession Planning in Maintaining Organizational Sustainability from the Perspective of Socioemotional Wealth

Identifying the factors affecting organizational sustainability is a crucial topic in the field of social science and business research. Especially in family businesses, the most crucial issue is how to maintain corporate sustainability across generations. In this regard, succession planning plays a key role in maintaining the sustainable development of family businesses. From the perspective of socioemotional wealth, this study discusses the motivations and consequences of intrafamily succession by measuring the impact of the internal determining factors of succession planning on family business performance. Based on a sample of 281 Chinese family firms, this study uncovers the relationship between succession planning and organizational performance. The core findings of this study include succession planning is positively related to organizational performance in the matter of the successor’s training; succession planning has a positive effect on organizational performance in terms of the successor’s self-preparation; and succession planning is positively correlated with organizational performance in the aspect of the relationship between the successor and business. By illustrating that the formulation of succession planning is an essential pursuit for family businesses to preserve sustainability and socioemotional wealth, the results reveal ways to facilitate succession planning through internal factors in the family business. This study contributes to organizational sustainable development literature, family business sustainability studies, and succession management research by validating the positive relationship between succession planning and organizational performance, indicating that succession planning is a vital driving force for achieving organizational sustainability.

The Impact of Family Conflict on the Development of the Mulya Manggis Family Business

Family businesses have unique characteristics as they are owned and managed by family members. However, family businesses also have unique challenges, such as family conflicts that have an impact on business development. This study aims to determine the impact of family conflict on the development of the Mulya Manggis family business. The object of this research is the Mulya Manggis family business. The method to be used in this research uses quantitative research methods with a descriptive verification approach in the form of interviews conducted in private and filling out questionnaires. The population used is Mulya Manggis family members and the sample used is family members who are directly involved in the Mulya Manggis family business. The alleged results of this study indicate that the impact of family conflict has significant negative implications for the development of family businesses.

Family Business in the United Arab Emirates: Legal Experience

Relevance. Family entrepreneurship is one of the main trends in the modern development of entrepreneurial activity. Over the past five years civilistic science has achieved significant results in the study of this multidimensional complex phenomenon. Being at an intersectoral junction (civil, family, entrepreneurial, labor, administrative law), family entrepreneurial activity is designed to solve many government tasks, which allows us to talk about the entry of this type of entrepreneurial activity into Russian entrepreneurship ecosystem on a permanent basis. At the same time, Russian legislator does not react to large-scale development of family business in any way, which creates insoluble difficulties in its implementation, protection of participants rights. Under such circumstances, the experience of legal regulation of relations arising from family entrepreneurship in foreign countries that have followed the path of adopting a special law seems relevant. The United Arab Emirates is one of such states.The purpose is to set the content of a special law on family business in the United Arab Emirates.The objectives of the study: to determine the state of family entrepreneurship development abroad; establish the need to study the experience of legal regulation of family business in the UAE; disclose the content of the UAE family business law.Methodology. The article is based on analysis methods, deduction, description, generalization, formal-legal, comparative-legal methods.Results. The study found that the UAE's approach to legal regulation of family business relations is based on an internally consistent special legislative act based on a symbiosis of family values and advanced business achievements.Conclusion. The experience of legal regulation of family entrepreneurial activities of the UAE is one of the progressive at present. It seems that it is necessary to consider the achievements of the Arab legislator when creating the concept of Russian law on family entrepreneurship, its structure, laying down the principles.

African family dynamics and family business – a perspective article

PurposeDespite the potential benefits of family businesses, their dynamics present peculiar challenges that hinder the realisation of their full potential. This paper sought to assess the relationship between family dynamics and business development in Africa. The authors explored the dynamics of African family structures and how these structures impact family businesses.Design/methodology/approachThe paper adopted an analytical and interpretative approach to existing literature and contemporary practices in family business operations. The approach helped to synthesise emerging trends in family business operations and offered novel insights into family-owned businesses.FindingsThe findings revealed that, though family businesses have a lot to contribute to development, family dynamics can threaten their sustainability if not well moderated. Based on the findings, the authors recommend trust and transparency as critical pillars for sustained family-owned business growth. They recommend further that communication channels, documented policies and procedures and well-established feedback channels are strategies that can guide stakeholders in family businesses to build trust and transparency in the business.Originality/valueThe paper throws light on the unique contributions of family businesses to communities and individuals and the Sustainable Development Goals (SDG). It is also an eye-opener to this relatively grey area and opens deeper discussions about sustaining family businesses.

Family Entrepreneurship as a Tool of Social Support for Low-Income Categories of Citizens in Russia

Family business (family entrepreneurship) is of particular relevance in modern conditions, since it combines family values and business interests with due regard to the complex international political situation and the need to find new tools for social support. Family entrepreneurship is characterized by a high degree of loyalty between family values and business interests, which ensures reliability and sustainability of an enterprise. In addition, family entrepreneurship allows solving social problems such as unemployment and low income of the population. This can be an important factor in economic development of both individual regions and the whole country.The author concludes that family business can become one of the keys to getting out of a difficult economic situation. Many foreign enterprises have left the Russian market due to the sanctions of unfriendly states. Thus, it is not necessary to replace them with Chinese and other foreign analogues. It is necessary to invest money in the development of family enterprises today so that tomorrow they can become competitive business units and produce high-quality and in-demand goods.Based on the data analysis, the author identifies possible ways to solve problems in the field of family entrepreneurship in the Russian Federation. They include creation of special support and assistance programs for aspiring family entrepreneurs, including tax incentives, loans and assistance in finding financing; targeted promotion of family entrepreneurship in social networks and the media; organization of support and training in marketing, business planning and business analytics; training in practical skills for successful business; creation of projects for the joint use of resources and infrastructure for family entrepreneurs. The paper provides proposals aimed at creating favourable conditions for the family business development.

Investment in innovation and international entrepreneurial performances of Chinese family businesses: from the perspective of intergenerational succession

ABSTRACT Innovation and international entrepreneurship are important paths for family businesses to achieve sustainable growth. However, there are few relevant studies on the development and inheritance of family businesses. This paper has taken China’s listed family businesses from 2007 to 2020 as a sample in order to explore how investment in innovation affects international entrepreneurial performances. The study found that family businesses with high investments in innovation had lower international entrepreneurial performances. When family businesses are inherited by the firstborn or managed by multiple generations, the degree of this negative impact will increase, while heirs with overseas work experience will reduce the negative impact. The gender and overseas educational experience of the heirs will not have an impact on the negative relationship. These findings emphasize the heterogeneous role of intergenerational succession, revise some traditional inheritance views of Chinese family businesses and reveal the important role of reasonable intergenerational succession strategies in coordinating innovation and international entrepreneurship.

СІМЕЙНИЙ БІЗНЕС ЯК ЗАПОРУКА РОЗВИТКУ НАЦІОНАЛЬНИХ ЕКОНОМІК

The article is devoted to determining the influence of family business on the development of the national economy. The purpose of the article is to establish the peculiarities of family business and its influence on the development of the national economy. The main tasks of the article are to study the place of family business in the system of national economies; formation and peculiarities of family business; private business in conditions of full-scale war; prospects for the development of family business. The methodology of the conducted research involves the use of general scientific and specific research methods, including analysis and synthesis, retrospective analysis and generalization. This article examines the most general aspects of family business, its current state in wartime conditions, and makes some predictions for the future. The main results of the conducted research showed that the dynamic development of family entrepreneurship in the country requires the adoption of a system of measures aimed at creating favorable institutional conditions, which will make it possible to reach the level of developed countries in the future, where family businesses make up a significant part of the economy. It has been established that family business in Ukraine is characterized by the same features as in other countries, the lack of generations is a national feature, the issue of business inheritance is also open. Attention is focused on the fact that private business is fighting at the front, working in the rear, volunteering to bring our victory closer. Family business remains one of the main factors of stability in the state, which survives in conditions of war, loss of territories, revolutions, hyperinflation, and it can play an important role in the post-war reconstruction of Ukraine, as it was in other European countries, where families were looking for business ideas , gradually became rich, independently providing themselves and others with work.

The situation of handicrafts and family business in Uzbekistan (on the example of the pandemic period)

This article examines some features of the development of family business and crafts in Uzbekistan in the context of the pandemic, the factors of its development, and socio-economic significance. The article discusses the effective socio-economic mechanisms for increasing employment in the development of family businesses and crafts in the context of the coronavirus pandemic, studied practical advice and recommendations on increasing employment, the occurrence of pandemics in today's conditions, the impact of the impending economic crisis and the problems in the implementation of tasks aimed at the development of small business and private entrepreneurship, and ideas for their solution. The state of potential and level of development of family business and handicrafts in Uzbekistan, its organizational bases are analyzed, and offers on finding a positive solution to the issues of employment are highlighted.

SOME URGENT ISSUES OF LENDING TO FAMILY BUSINESS ENTITIES

The article examines the importance of the lending system in our country and a number of studies on their improvement in the development and support of family business in our country. The problems in the field of financing family entrepreneurship, problems in the allocation of loans, assistance to self-employment of the population were studied in detail, and scientifically based proposals and recommendations were developed on the role of family entrepreneurship in the country's economy, advantages, features and elimination of problems in the field.

Family business and regional development. By RodrigoBasco, RogerStough, and LechSuwala (Eds.), London: UK: Routledge. 2021. 300 pages. Available open access: https://doi.org/10.4324/9780429058097

Growth and ChangeEarly View BOOK REVIEW Family business and regional development. By Rodrigo Basco, Roger Stough, and Lech Suwala (Eds.), London: UK: Routledge. 2021. 300 pages. Available open access: https://doi.org/10.4324/9780429058097 Maria I. Marshall, Corresponding Author Maria I. Marshall [email protected] orcid.org/0000-0003-2267-798X Department of Agricultural Economics, Purdue University, West Lafayette, Indiana, USASearch for more papers by this author Maria I. Marshall, Corresponding Author Maria I. Marshall [email protected] orcid.org/0000-0003-2267-798X Department of Agricultural Economics, Purdue University, West Lafayette, Indiana, USASearch for more papers by this author First published: 20 April 2023 https://doi.org/10.1111/grow.12679Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL No abstract is available for this article. Early ViewOnline Version of Record before inclusion in an issue RelatedInformation

УПРАВЛЕНИЕ РАЗВИТИЕМ СЕМЕЙНОГО БИЗНЕСА В РОССИИ

The article examines the historical development of family business on the example of the Russian Empire and the Soviet period, as well as the features of its revival in the modern history of Russia. The specifics of the development of family business in the national economy of the Russian Federation are revealed. The factors of the absence of trends in the development of family business on the network principle are determined. The feature of family business as a kind of small business enterprises is considered. The structure of a family business is considered from the point of view of business processes and the industry aspect. The essence of state participation in the support of family forms of business through the development of folk crafts is revealed. The attention is focused on the regional approach to the support of family business. The factors of financial management of a family business are determined. Data on the revenue and profit of some family business enterprises from various industries are compared for the readiness of these enterprises to reinvest their own activities as a way of developing and expanding commercial activities. An assessment of the alleged reasons for the inability of the enterprises under consideration to expand commercial activities by implementing measures to reinvest in their own development and expansion is presented. Possible ways of resolving the identified problem are provided by the stimulating efforts of the state, especially with regard to taxation and property.

Theory and practice of the evolutionary networks of potential in a family business succession

Aim/purpose – This paper aims to introduce and describe a new paradigm (model) of evolutionary dynamism of family business potential in the succession process and its empirical simulation in family enterprises from culturally close “post-socialistic” coun- tries: the Czech Republic and Poland. Design/methodology/approach – The conceptual basis for developing the evolutionary model of family business was our research on the sample of 235 small and medium-sized family enterprises from the Czech Republic and Poland. A practical experimental simu- lation of the model was carried out in 12 Czech and 19 Polish family companies. Findings – The proposed model is based on economic and natural laws, including opti- mization proportions of the golden ratio, laws of time economics, theory of innovation, and “Moore’s law.” This model allows us to simulate and analyze the pace of accelerat- ing innovation cycles and the dynamism of intergenerational changes of family business potential in the succession process. Research implications/limitations – The social and industrial revolution 5.0 is getting near and global economic, social, cultural, ecological, and other contemporary turbu- lences, built on the “microcosm optimization” of living matter, having two extreme marginal variants for the subsequent (evolutionary) development of family business: (a) an option of “harmony” or (b) an option of “tragedy.” One limitation of the model is its general nature, making it sensitive to outlier cases. Originality/value/contribution – The proposed model provides valuable analytical guidelines for family business succession and significantly highlights the role of intra- family dynamics in this process. It also represents a novel analytical approach to as- sessing and predicting the longevity of family business as well as an opportunity for the development of mixed research in family entrepreneurship. Keywords: Family entrepreneurship, family business, succession, innovation, potential. JEL Classification: L26, M21, O31, P47

Family Business and Religion – Research Agenda

Abstract Objective: The aim of the study is to find out what is our state of knowledge about the importance of religion for the activity of family businesses. The literature review on the impact of four major religions: Buddhism, Christianity, Hinduism and Islam on the family business development has been made. The issues as business development, resource allocations, risk taking, succession and business ethics in family business under the influence of religion have been discussed. The synthesis effect of the study is the picture of a specific research field. And, as a result of the study the important niches in our knowledge, main barriers of research development and most inspiring directions for future studies have been identified.

The Impact of Intergenerational Succession Intention on Family Firm’s Innovation Strategy: Evidence from China

In the development and growth of family businesses, succession is an unsolvable problem, which is also a popular focus of academic research. For a family firm, succession may be a strategic decision but also a long-term and intricate “footrace.” It will have a significant impact on the long-term viability of a family firm if it is not handled appropriately. This study mainly explores the influences of family business owners’ intergenerational succession intention on their family firms’ innovation strategy in China. In addition, this study further examines the moderating role of the institutional environment in the above relationship. Therefore, the data in this article comes from a survey of 271 family businesses in eight different regions of China. Also, this paper can aid the smooth transition of intergenerational transmission of small and medium-sized family businesses in addition to the untroubled development of technological innovation activities. Specifically, the institutional environment plays a negative moderating role in the relationship between family succession, radical succession, technological innovation, and a positive regulating role in the relationship between single equity succession and technological innovation.

Examining relationship marketing and strategic branding in b2b Greek SMEs: A family business development

Α survey of relationship marketing, branding, and the family business life cycle is conducted to determine the extent to which these variables ensure their path to the next generation. The study examines whether interpersonal relationships apply to family SME businesses and how they adopt relationship marketing as their main strategy. The study provides an insightful benchmarking approach between family businesses in early stage (1st and 2nd generation) and well-established (3rd and 4th generation) companies. In addition, the adopted branding process is examined. A qualitative method was chosen for the interviews with five B2B Greek family companies in the trading sector. Family businesses are Greek, have a known brand name, and family members are involved in the decision-making process. All participants agree that personal or friendly relationships of the owner-founder with customers, suppliers, and staff are crucial at the launch of businesses, and growth is a synonym for business survival. Data analysis revealed that relationship marketing is not related to the stages of development, as different perceptions were observed among participants of well-established and companies in the early stage. The results also show a significant relationship between different stages of family business’s development and branding strategies, documenting that owners of well-established family businesses focus on organizational structure and culture. In contrast, owners of family businesses in the early stage rely on personal relationships. Branding strategy seems to be the appropriate approach for a family-owned business to survive in the marketplace and have succeed pass on to the next generations.