Determinants of Family Business Development Strategy Cover Image

Uwarunkowania strategii rozwoju przedsiębiorstw rodzinnych
Determinants of Family Business Development Strategy

Author(s): Andrzej Marjański
Subject(s): Business Economy / Management, Micro-Economics, Policy, planning, forecast and speculation, Economic development
Published by: Społeczna Akademia Nauk
Keywords: family business; development strategy; succession

Summary/Abstract: Family business companies in the modern global economy play a significant role from both economic and social perspectives. Growing globalization of the economy management process as well as increasing level of uncertainty in the market affect conditions of competitiveness and give innovation quite a new meaning. In this context there is a need for both noticing and reacting to changes in the internal environment of the company so that its efficiency can be guaranteed. The nature of the family business companies which assumes passing down the business through generations suggests the need for creating and implementing a development strategy. Family businesses’ strategy must include realization of business targets as well as owner family’s objectives. It should also take into account combination of ownership and management within the family. The development strategies of the family businesses must also include integration of the priorities of both the family and the company. Planning for succession is one of the toughest and most critical challenges in the process of the family business’ development – strategic challenge which is the most stretching over a long period of time.

  • Issue Year: 16/2015
  • Issue No: 7.1
  • Page Range: 153-164
  • Page Count: 12
  • Language: Polish