Understanding the Family Business, Second Edition: Exploring the Differences Between Family and Nonfamily Businesses

Business Expert Press
Free sample

This outstanding book provides you with a detailed look at family businesses, the most prevalent form of business in the world. Whether you are a business student, or a member of a family who owns a business, you will definitely benefit from this book, which leads with an introduction to the unique nature of family businesses. Inside, the author explores the many differences between a family-owned business and a nonfamily-owned business. He discusses the major family business theories and shows how family firms make business decisions. This book also defines the significant issues prevalent in family firms and explores the most problematic issue: the succession or the transfer of ownership to the next generation. If you are a professional advisor to family firms—such as accountants, attorneys, bankers, insurance providers, and financial services—you’ll undoubtedly develop a better understanding for your clients.
Read more
Collapse

About the author

Keanon Alderson is a professor of management at the Robert K. Jabs School of Business at California Baptist University in Riverside, California, and holds an MBA and a PhD in organization and management. Professor Alderson conducts research in the areas of family business including corporate governance and generational differences. He teaches a popular family business management course. Alderson was also a second-generation member of his family business for 17 years and he is a founder and co-preneur with his wife in their family business.

Read more
Collapse
Loading...

Additional Information

Publisher
Business Expert Press
Read more
Collapse
Published on
May 8, 2018
Read more
Collapse
Pages
162
Read more
Collapse
ISBN
9781631575747
Read more
Collapse
Read more
Collapse
Read more
Collapse
Language
English
Read more
Collapse
Genres
Business & Economics / Small Business
Read more
Collapse
Content Protection
This content is DRM protected.
Read more
Collapse
Read Aloud
Available on Android devices
Read more
Collapse
Eligible for Family Library

Reading information

Smartphones and Tablets

Install the Google Play Books app for Android and iPad/iPhone. It syncs automatically with your account and allows you to read online or offline wherever you are.

Laptops and Computers

You can read books purchased on Google Play using your computer's web browser.

eReaders and other devices

To read on e-ink devices like the Sony eReader or Barnes & Noble Nook, you'll need to download a file and transfer it to your device. Please follow the detailed Help center instructions to transfer the files to supported eReaders.
Unleash your entrepreneurial spirit with a counterintuitive approach to starting your own venture or taking your career to the next level

Start Before You’re Ready offers entrepreneurs an inspiring new roadmap to success — one that runs against nearly everything you’ve ever been taught about business. Author Mick Spencer is living proof that success doesn’t always rest down the traditional path of formal education and deep pockets. At the age of 22, with nothing to his name, he founded ONTHEGO Custom Apparel (www.otgcustom.com), a customised apparel and uniform company. Since then he has built a worldwide network of movers and shakers and raised millions in venture capital. His company is now a multi-million-dollar player on the international stage, disrupting the slow-moving industry with a modern blend of technological disruptions and social responsibility. In this book, he presents a solid case that analysis paralysis and endless ‘preparation’ won’t get you anywhere — you have to take that leap and do what you really want to do. Indeed, start before you’re ready.

Spencer challenges you to get outside your comfort zone and, although intimidating, his approach forces you to learn ‘on the go’ and focus on what you can do rather than what you can’t. Engrossing personal anecdotes coach you through the frustrations and challenges, while vital tools and clear strategies give you a concrete plan for making every day count, many of which have been taught to Mick by billionaires, global CEO’s and highly sought after founders.

Chart your own path to success — even without a university degree or financial assets Focus on what you can do right now to achieve your goals Master self-reliance, overcome adversity and discover your true purpose Learn positive habits and build confidence to overcome challenges

Starting your own venture or pushing the boundaries in your career is always a leap of faith. It’s saying ‘yes’ before figuring out how to deliver. It’s moments of self-doubt followed by fiery adventurousness and courageous optimism. You are at once inspired, vulnerable, motivated and proud — and you are capable of extraordinary things. Start Before You’re Ready equips you with the inspiration and practical advice you need to succeed in today’s entrepreneurial environment.

The purpose of this book is to provide readers with an introductory overview of family business, the most prevalent form of business in the world. The differences between family and nonfamily businesses are emphasized in this book. There are several key audiences: As a supplemental text for university undergraduate or graduate level courses such as small business management, introduction to business, entrepreneurship, or family studies. Members of family businesses will benefit from the book as an introduction to the unique nature of family businesses. Professional advisors to family firms such as accountants, attorneys, bankers, insurance providers, and financial services professionals may develop a better understanding of their clients. Suppliers to family businesses will gain insight to this important business customer. Much of the literature on family business is from the United States; an attempt has been made to present relevant international information, as well. Chapter one defines a family business and provides an overview of family business. Chapter two explores the many differences between a family owned business and a nonfamily owned business. Chapter three explores the major family business theories. Chapter four discusses how family firms make business decisions. Chapter five explores the significant issues prevalent in a family firm. Chapter six explores the most problematic issue in family firms: succession or the transfer of ownership to the next generation. Chapter seven explores the many differences among the generations of a family firm. Chapter eight presents information on family business strategic planning. Chapter nine focuses on effective family business governance and use of advisors and boards. Chapter ten explores key success tips for long lasting family firms. Chapter eleven discusses trends in family business. Chapter twelve contains key points for family business professionals and suppliers who target or service family firms. Chapter thirteen presents areas for future research to advance the study of family business.
This book presents research-based information to provide the reader a deeper understanding of the complex nature of family owned businesses, their problems and challenges, and the unique governance structures and mechanisms that have been developed to properly guide a family business to greater effectiveness.

Family business is the most prevalent form of business organization in the world. Much of the existing literature on family and corporate governance focuses on the larger and often publicly owned corporations instead of the unique and special issues of the much more prevalent privately held (usually smaller) family businesses. This book presents research-based information to provide the reader a deeper understanding of the complex nature of family owned businesses, their problems and challenges, and the unique governance structures and mechanisms that have been developed to properly guide a family business to greater effectiveness.

For the family, such structures include having family meetings, a family council, and a family constitution. For the business, the board of directors provides experienced and knowledgeable advice and recommendations, as well as oversight and monitoring activities. For the owners, a shareholder’s council and an annual shareholder meeting allows increased communication and voting on decisions. These family governance mechanisms have been shown to increase communication, reduce conflict, and improve decision making and professionalism. Each governance tool will be explored in depth. The audience for this book is family business owners, consultants, practitioners, and family business scholars. Cases will provide readers an opportunity to apply their learning to real business problems.

©2019 GoogleSite Terms of ServicePrivacyDevelopersArtistsAbout Google|Location: United StatesLanguage: English (United States)
By purchasing this item, you are transacting with Google Payments and agreeing to the Google Payments Terms of Service and Privacy Notice.