Family businesses: A diagnosis and self therapy model.
Family businesses are complex systems which require good strategy, leadership, and committed personnel in order to thrive. Compared to other businesses family businesses are characterized by two dynamic and sometimes conflicting reference systems, the family (the emotional) and the company (the professional). Succession is mentioned in the literature as one of the four main categories of problems, along with problems of strategy, of the conflicts that can arise between family members and the problems of the daily management. The management of conflict and communication frequently determine the effectiveness of the family business.
The “Family Business in the New Economy: How to Survive and Develop” (FAMBUS) project aims to develop a model for diagnosis and self-therapy (diagnostics – therapy, including conflict resolution, modernization, adoption to environment, to globalization etc.). The model aims to promoting healthy personal relationships and building high performing teams, as well as to serve as an outside resource that brings objectivity and direction to a certain situation in family businesses. It may unfold unfinished or unspoken issues and help the family business members to work toward their own unique solutions.
The creation of the model is based on the results of the quantitative study (a survey comprising a structured questionnaire completed by 200 Finnish and Greek family businesses) and qualitative study (Personal site visits and interviews comprising 20 interviews in both Finland and Greece) for obtaining deeper understanding of the research problem and to support the design of the diagnosis and self-therapy model.
The most important contribution of this work is anticipated to be the novel family business diagnosis and self-therapy model and subsequent electronic tool in three languages, English, Finnish and Greek, for identification of potential problem areas and potential activities for their solutions. The aim of the model is to aid family businesses to avoid difficulties at an early stage and to serve as a self-therapy model.
International Journal of Entrepreneurial Knowledge (ISSN 2336-2960) is published by the Center for International Scientific Research of VŠO and VŠPP in cooperation with the following partners:
- University College of Business in Prague, Czech Republic
- University of Entrepreneurship and Law, Prague, Czech Republic
- School of Business and Administration of the Polytechnic Institute of Setúbal, Portugal
- Faculty of Operation and Economics of Transport and Communications, University of Zilina, Slovakia
No part of this journal may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage retrieval system, without permission from authors.
Copyright belongs to the Center for International Scientific Research of VŠO and VŠPP. All rights reserved.
The publisher provides free access policy to the International Journal of Entrepreneurial Knowledge.