Family Business Management

Name: Family Business Management
Brand: Routledge
Price: 65.99 EUR
Availability: OnlineOnly

Rodrigo Basco(Autor*in)

Routledge (Verlag)

1. Auflage

Erschienen am 2. Oktober 2023

276 Seiten

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978-1-000-95909-3 (ISBN)

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Beschreibung

Family Business Management provides an accessible overview of the core aspects of family business, with an international, practice-based perspective.

Structured in four parts, the book covers key topics such as family firm goals, conflict management, human resources, strategy, financial management, family and business governance, and succession planning. A wide variety of cases and examples are used throughout the book to highlight cultural and institutional differences between family businesses in contrasting contexts. Each chapter offers a detailed case study and boxed examples, illustrating real-life family business situations and stimulating students' critical thinking and decision-making. Readers are further supported by learning objectives, discussion questions, and further reading suggestions. Digital supplements for instructors include lecture slides, a test bank, and additional case studies.

This textbook is an ideal companion for family business courses, catering to both undergraduate and postgraduate students. It offers valuable insights and practical guidance for business families, as well as professionals working in family businesses.

Rezensionen / Stimmen

"This is a relevant and timely book that deals with the complex dynamics of family businesses. It showcases an in-depth intellectual analysis of family business insights alongside a comprehensive collection of cases, examples and questions that stimulate discussion and debate. It is a must read for anyone interested to understand more about how family firms function, why they matter and what makes them unique worldwide."

Dr. Allan Discua Cruz, Director, Centre for Family Business, Lancaster University, UK

"Family Business Management is an essential book that provides a rare insight into the dynamics of family businesses in the Arab Gulf region and beyond. A significant part of the material is dedicated to fundamental matters, such as succession planning, that are often overlooked in the Arab Gulf region. As family businesses continue to gain prominence in local and regional economies, this book offers business family members, economists, and academics a clearer guide to understand these important institutions."

Sultan Sooud Al Qassemi, Lecturer, Bard College Berlin and Fellow at Wissenschaftskolleg zu Berlin - Institute for Advanced Study

"Being a third-generation family business executive, I have benefited from Prof. Dr. Rodrigo Basco's advice on numerous occasions regarding succession, governance, and conflict management. I believe this book will help different generations of family members navigate their unique journeys and reflect on the most important issues, such as governance, succession planning, and family transparency, among others."

Saud Majid AlQasimi, CEO, Al Saud Co.

"A world-renowned scholar coming from a family business background, Rodrigo Basco curates a thoughtful journey to greatly inspire family business leaders, practitioners, and all other learners. Gradually moving from managing family dynamics to governance and succession, the text demystifies complexities of family businesses and offers critical and actionable insights into planning and strategizing for families in transition. The global selection of real cases, coupled with carefully themed discussions and learning activities, is of enormous benefit to the family business community. This text has my highest recommendation."

Jeremy Cheng, Researcher, The Chinese University of Hong Kong; Founder, GEN + Family Business Advisory & Research, Hong Kong SAR

Weitere Details

Weitere Ausgaben

Person

Inhalt

Contents

Preface

Part I _ Introduction to family business

Chapter 1 _ Approaching the concept of family business

Introduction

Family business definition

Type of family businesses

Family-first family firms

Business-first firms

Family business-first family firms

Immature family firms

The importance of studying family business governance and management

Additional activities and reading material

Classroom discussion questions

Additional readings

Classroom activity

Case for analysis I: Birla-An entrepreneurial family

Case for analysis II: Chick-fil-A-A family serving quality and tradition

Case study: Wal-Mart

Chapter 2 _ Family business dynamics: Individual needs, goals, expectations, and emotions

Introduction

The three-circle model

Roles

Goals

Psychological needs

Expectations

The evolutionary perspective of the three-circle model
Emotions in the family business

Emotions in family business across contexts

Additional activities and reading material

Classroom discussion questions

Additional readings

Classroom activity

Case for analysis I: Pritzker family across generations

Case for analysis II: The Henriquez Group

Case Study: Estee Lauder Companies

Chapter 3 _ Interpersonal relationships and communication in family businesses

Introduction

Interpersonal relationships in the family entity

Couple relationships and family business

Sibling relationships and family business

Parent-child relationships and family business

In-law relationships and family business

Family communication

Family genogram

Additional activities and reading material

Classroom discussion questions

Additional readings

Classroom activity

Case for analysis I: Case for analysis I: Dassler brothers
Case for analysis II: The co-preneurs Mr. & Mrs. Hartz

Case Study: British royal family

Part II _ Management in family business

Chapter 4 _ Conflict, conflict management, and communication

Introduction

Definition of conflicts in family businesses

The conflict process in family businesses

Sources of conflicts in family business

Conflict and context

Types of family business conflicts

Conflict management

Conflict-resolution techniques

Conflict-stimulation techniques

Additional activities and reading material

Classroom discussion questions

Additional readings

Classroom activity

Case for analysis I: The team is broken!

Case for analysis II: Steinberg family business

Case Study: The fate of Gucci

Chapter 5 _ Human resource management in family businesses

Introduction

Nepotism

Human resource approach

Origins of asymmetric treatment

Justice/fairness

Levels of justice

Dysfunctional behavior

Additional activities and reading material

Classroom discussion questions

Additional readings

Classroom activity

Case for analysis I: What a mistake!

Case for analysis II: Embracing nepotism

Case Study: It is just a scandal or the scandal

Chapter 6_Strategic and financial management in family businesses

Introduction

Family business goals

Family business goals as reference points

Socioemotional wealth as an endowment effect

Strategic and financial behavior

Strategic management in family business

Market domain

Internal competitive advantages

External competitive advantages

Nonmarket domain

Combination of market and nonmarket domains as a determinant of performance and survival

Additional activities and reading material

Classroom discussion questions

Additional readings

Classroom activity

Case for analysis I: ALDI and the power of family ties

Case for analysis II: Feetures case study

Case study: An upside down strategy for LEGO

Part III _ Governance in family business

Chapter 7 _ Ownership governance in family business

Introduction

Corporate governance in family businesses

Ownership structure and governance

Type of owners

Ownership assembly or shareholder meeting

Shareholder agreement

Benefits of shareholder agreements

Evolutionary approach to ownership governance

Additional activities and reading material

Classroom discussion questions

Additional readings

Classroom activity

Case for analysis I: The united family behind LEGO

Case for analysis II: H51-The mission to preserve the Hermes family identity

Case Study: "The Factory" of the human misery

Chapter 8 _ Business governance in family business

Introduction

Board of directors

Board of directors' tasks

Types of boards of directors

Board of directors composition

The evolution of the board across the lifecycle of the family business

Board of director practicalities

Number of board members

Recruiting board members

Regulation of the board of directors

Additional activities and reading material

Classroom discussion

Additional readings

Classroom activity

Case for analysis I: Al-Wadi Group-Corporate governance

Case for analysis II: Volkswagen scandal and boardroom politics

Case study: In between the board of directors and family shareholders

Chapter 9 _ Family governance in family business

Introduction

Types of family cohesion

Family leader-Chief family officer

Family governance viewed across an evolutionary perspective

Family meetings

Family assembly

Family council

Family policies

Family wealth governance

Family chapter or constitution

Additional activities and reading material

Classroom discussion questions

Additional readings

Classroom activity

Case for analysis I: The family organization behind Al Handal International Group (HIG)

Case for analysis II: Merck-A family transcending generations

Case study: Al Saud Company and the first serious crisis

Part IV _ Succession in family business

Chapter 10 _ Ownership, governance, and management succession

Introduction

Succession of what?

Types of succession in family business

Exit strategy (from a family business to a nonfamily business)

Complexity in family business succession

Barriers to intra-family management succession

Succession process perspective

Additional activities and reading material

Classroom discussion questions

Additional readings

Classroom activity

Case for analysis I: The global pasta-Barilla

Case for analysis II: Succession to succeed in the Middle East

Case study: How far can U-Haul go from here?

Chapter 11 _ The incumbent generation in family business succession

Introduction

Senior generations across time

Founder generation

Second generation

Third and further generations

Succession strategies

Keep relying on informal mechanisms to address succession

Formalize corporate governance to address succession

Pruning the family ownership tree

Plan the succession process

Type of incumbent based on their retirement styles

Passive family members

Transgenerational value creation

Additional activities and reading material

Classroom discussion questions

Additional readings

Classroom activity

Case for analysis I: Holly in her father's shoes

Case for analysis II: What's next? Retirement

Case study: Can I stay a bit more with all of you? Group Olive Mendoza

Chapter 12 _ The next generation in family business succession

Introduction

The Disney effect in family business succession

Managerial succession

Successor intentions

Parent-child relationships

Successor career-path intentions

Successor commitment

Successor entry and career paths

Model of change in family business succession

Next-generation ownership succession

Next-generation governance succession

Additional activities and reading material

Classroom discussion questions

Additional readings

Classroom activity

Case for analysis I: Succession in the luxury house of Zegna

Case for analysis II: The succession race at LVMH

Case study: Al Saud Company managing changes from the second generation to the third

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