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Family firm outcomes modell

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by

Attila Wieszt

on 7 November 2017

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Transcript of Family firm outcomes modell

Family firm outcomes model
Family goals and aspirations
Family first family firm
Business-first family firm
Non-financial goals
Financial goals
Balanced family firm
Outcomes:
financial
non-financial internal
non-financial external
firm outcome
family outcome
(Holt - Pearson - Carr - Barnett, 2017)
Family involvement and governance model
(Hülsebeck and Wirsching, ?)
Family involvement in governance
1. Concentration of ownership
2. Involvement of family in the day to day management
3. Additionally installed governance bodies + ratio of insiders
Succession
Family-specific assets
Complexity of firm
Family firm performance
Professionalization and firm performance
(Dekker et. al., 2015)
Elements of professionalization
Nonfamily involvement in governance
Top level activeness
Decentralization of authority
Human resource control systems
Financial control system
Family firm performance
Holistic framework of succession research
(Decker et. al., 2017)
Process:
Preparation
Choice of successor
exploration and implementation
Incumbent owner-manager withdrawal
Post-succession
Method:
- economic, psychological and sociological factors
- examined at individual, organizational and environmental level
Intrafamily succession is successful, if:
1.) family preserves influence
2.) business is thriving
3.) family is flourishing
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