Business Planning Practices of Family-Owned Firms within a Quality Framework

Abstract

Study purpose is to investigate the contribution of an integrated, interfunctional approach to quality management, inclusive of family/business interface management, to the success of 572 small family firms, using multiple measures of success (congruity and business revenues). A positive customer reputation was the most important business goal for 44.6 percent of firms. Interface and business management significantly explained business revenue and congruity between business and family while controlling for owner and business characteristics. Family/business interface management explained 9.7 percent of congruity variance and 8.2 percent of gross revenue variance, whereas business management explained 3.3 percent of congruity variance and 2.2 percent of gross revenue variance.

Constrictive vs. distinctive familiness and the culturing of familiness capital (FamCap)

“…A relationship of trust often develops between the family firm and its customers, suppliers and employees through historical associations (Royer et al, 2008;Sundaramurthy, 2008). This is confirmed by a US study of 572 family firms indicated that 44.6% saw their relationship with their customers as the most important objective of their business (Danes et al, 2008).…”

“…Family firm owners identify with their businesses to a large extent and make a great effort to guard and protect its reputation (Block, 2010). Accordingly, family firms prioritize the needs of their customer service (Danes et al, 2008;Venter, 2007). A relationship of trust often develops between the family firm and its customers, suppliers and employees through historical associations (Royer et al, 2008;Sundaramurthy, 2008).…”

Organisational behaviour and strategies in the adoption of certified management systems: an analysis of the Spanish hotel industry

“…Nonetheless, while many empirical studies have been conducted on the adoption and dissemination of some of these standards, primarily the ISO 9001 and 14001 series, most refer to the manufacturing sector or the service sector in general (Hendricks and Singhal, 2001;Sun and Cheng, 2002;Behesti and Lollar, 2003;Bendell and Boultier, 2004;Boiral and Roy, 2007;Danes et al, 2008). The present study, in contrast, contributes to expanding the scant evidence at hand in this respect on the tourist industry, and more specifically the hotel industry.…”

Determinants of rural and urban family firm resilience

“…At any point in time, the flow of resilience capacity, represented by congruity among family members, can vary depending upon current conditions at the family/business interface. Lack of resilience undermines efficiency and reduces cooperation (Danes, Loy, et al, 2008).…”

“…When families are functionally strong, they have a stock of resilience that buffers both the family and firm against stresses emanating from internal and external disruptions (Danes, Loy, et al, 2008). Family interactions, such as family adjustment strategies, are actually implicit rules guiding member behavior and are the result of rationally making previous financial and social decisions and devising solutions to problems (Moen & Wethington, 1992).…”