文档介绍：Part VI – Contemporary Challenges in Entrepreneurship
Chapter 18 – Acquisition and Valuation of Business Ventures
Chapter 19 – Management ession and Continuity: A Family Business Perspective
Chapter 20 – Women and Minority Entrepreneurship
Chapter 21 – Total Quality Management: The Continuous Improvement Challenge for Entrepreneurs
Copyright (c) 2004 by South-Western, a division of Thomson Learning. All rights reserved.
Chapter 19 – Management ession and Continuity: A Family Business Perspective
Family–Owned Business
Research has shown that approximately 92 percent of all . business ventures are under the strategic control of a family and are intended to remain in the family.
Advantages and Disadvantages of Family Controlled Firms
Advantages
Long-term orientation
Greater independence of action
Family culture as a source of pride
Greater resilience in hard times
Less bureaucratic and impersonal
Financial benefits
Knowing the business
Disadvantages
Less access to capital markets may curtail growth
anization
Nepotism
Spoiled-kid syndrome
Paternalistic/autocratic rule
Financial strain
ession dramas
The Management ession Issue
Barriers to ession Planning in Family Firms
Founder/Owner
Death anxiety
Dilemma of choice
Generational envy
Family
Death as taboo
Fear of sibling rivalry
Change of spouse’s position
Key Factors in ession
Pressures and Interests in a Family Business
Inside the Family
The Family Managers
The Relatives
Inside the Business
Outside the Business
Outside the Family
The Employees
The Outsiders
The Family Managers
Hanging onto or getting Hold pany Control
Selection of Family Members as Members
Continuity of Family Investment and Involvement
Building a Dynasty
Rivalry
The Employees
Rewards for Loyalty
Sharing of Equity, Growth, and ess
Professionalism
Bridging Family Transitions
Stake in pany
The Relatives
e and Inheritance
Family Conflicts and Alliances
Degree of Involvement in the Business