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

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

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

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

AE - Řízení, správa a administrativa

OECD FORD obor

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Projekt

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Návaznosti

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Rok uplatnění

2016

Kód důvěrnosti údajů

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

Název statě ve sborníku

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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Počet stran výsledku

15

Strana od-do

375-390

Název nakladatele

Szent István Egyetem

Místo vydání

Gödöllő

Místo konání akce

Gödöllő

Datum konání akce

23. 11. 2016

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

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