The influence of family relations on decision making in family businesses

Article English OPEN
Stoilkovska, Aleksandra ; Milenkovska , Violeta ; Serafimovic , Gordana (2013)
  • Publisher: University of Tourism and Management Skopje
  • Journal: volume 4, issue 1, pages 17-26 (issn: 1857-6974)
  • Subject: family businesses; family relations; decision making; family members; non-family members | family members | family businesses | decision making | HB71-74 | Economics as a science | family relations | non-family members | M12
    • ddc: ddc:330
      jel: jel:M12

The peculiarity and uniqueness of family businesses set them apart from other businesses in many things. Natural need of man to survive in these harsh circumstances forces him to constantly seek new sources of funding or simply tries to improve the existing. Secure existence is difficult to ensure. The successful family business provides many benefits: reliable operation, to be your own boss, flexible working hours, family members are taken care of, to become successful with your own strengths. Also this kind of business brings a range of difficulties that have to be overcomed. Apart from the daily struggle for enterprise development in the complex conditions of tough competition and rapid changes in the environment, family businesses face problems of internal character. Namely, the parents are thorn between the family relations, the love towards their children and the consistence in the decision making processes. Although this is a modern and very present theme however owners of family businesses rarely dare to speak publicly on the subject. This paper presents an action research conducted on a sample of 26 family businesses in FYROM. This research study is primarily exploratory in nature, and the research instruments include survey through questionnaires with family member and employees that are not family members.
  • References (6)

    Collin, Sven-Olof Yrjö, and Jenny Ahlberg. 2012. Blood in the boardroom: Family relationships influencing the functions of the board. Journal of Family Business Strategy 3(4): 207-219.

    Euro business center - Skopje. 2012. 200 most successful companies in 2011. In 200 Largest companies in Macedonia. [online]. Skopje: Euro business center - Skopje. /utd_200_mk.html (accessed June 25, 2012).

    Garcia-Castro, Roberto, and Mª José Casasola. 2011. A set-theoretic analysis of the components of family involvement in publicly listed and major unlisted firms. Journal of Family Business Strategy 2(1):15-25.

    Kontinen, Tanja, and Arto Ojala. 2010. The internationalization of family businesses: A review of extant research. Journal of Family Business Strategy 1(2): 97-107.

    Parker, Tammy. 2004. The Decision-Making Process in Family-Owned Businesses. The Coastal Business Journal 3(1): 56-60.

    Sardeshmukh, Shruti, Christina Scott-Young, and Sanjee Perera. 2011. Emotion work, conflict, and family business performance. In 8th AGSE International Entrepreneurship Research Exchange proceedings, Melbourne, Australia, 1-4, February 2011. http.// …/000107.pdf (accessed June 25, 2012).

  • Metrics
    No metrics available
Share - Bookmark