Decision making by Owners, Owner-managers and Managers in family businesses

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F16%3A43875282" target="_blank" >RIV/70883521:28120/16:43875282 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Decision making by Owners, Owner-managers and Managers in family businesses

Original language description

Decision making in each managerial level in a business is encouraged by its objectives. Yet, previous studies have revealed no agreement on what should be the most effective and efficient decisional approach in case of businesses. Meanwhile family businesses are known to be outperformed over non family firms in the short run indicating efficient use of resources. Family member's decision making as owners, owner-managers and managers are vital in this outperformance. Accordingly, the main objective of this study is to understand the nature of decision making by family members who are involved in family business in different capacities. Locating the research in interpretivist paradigm, qualitative methodology has been adopted in the research. Multiple case-study methods facilitated to inquire the phenomena. 12 well-known family firms from different districts in Sri Lanka were used as cases and 24 respondents in positions of owners, owner-managers and managers attended the interview providing information. Content analysis was used to identify themes in interview transcriptions. Analysis indicated that consultative approach is mostly used by family members in operational, functional and top level management decisions. Yet, family member's decisions in the business as owners, owner-managers and managers are different to each other in the nature of the decision and they do not have set decision making process. Owner-managers have shown active participation in making rational, risk averse and deliberate decisions in an environment of very limited information resources. Practically this research implies how positional differences as family members involve in the business effect business decisions and members decisional approach as owners, owner-managers and managers.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

AE - Management, administration and clerical work

OECD FORD branch

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Project

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Continuities

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Publication year

2016

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

Conference proceeding Future scientists for sustainable development 3rd VUA YOUTH Scientific Session

ISBN

978-963-269-451-1

ISSN

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e-ISSN

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Number of pages

15

Pages from-to

375-390

Publisher name

Szent István Egyetem

Place of publication

Gödöllő

Event location

Gödöllő

Event date

Nov 23, 2016

Type of event by nationality

EUR - Evropská akce

UT code for WoS article

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