Family businesses are usually reluctant to increase capital, because this results in allowing access to new shareholders. Therefore, they tend to depend more on self-financing and only turn towards debt, as previously stated, in cases where self-funds are not enough (Rodríguez & López, 2004). Sonfield and Lussier (2004) carry out a study in which they compare diverse aspects of the family business across generations. One of the main results obtained is a clear preference of the first generation of a family business towards using self-capital with respect to the following generations, demonstrating that the use of debt becomes generalized as time passes, generations change and the business evolves. These same authors (Lussier & Sonfield, 2009) -in a study that gathers data from six countries regarding the influence of the founder in business strategies- show evidence that there is a significant positive correlation between the influence of the founder and the use of self- capital, rather than debt, to finance investments. Finally, in two recent works that study a small sample of medium-sized African businesses, results show a negative relationship between debt levels and profitability (Obert & Olawale, 2010; Olufunso, Herbst & Roberts-Lombard, 2010).
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75 conclude that family firms do not behave uniformly in their orientation to CSR. Other authors, such as Uhlaner, Goor-Balk & Masurel (2004) and Dyer & Whetten (2006), consider that the orientation towards CSR in these companies is higher than in others. However, despite being a matter of great interest and strong relevance to todays‘ society, so far it has been a topic only addressed in a limited number of studies (Fitzgerald et al., 2010; Campopiano, Massis & Cassia, 2012; Benavides, Quintana & Guzman, 2013). This paper therefore aims to contribute to filling this gap in the literature. Hence, the main objective is to identify those aspects of the family business character that can make a difference in the implementation of socially responsible behavior in these businesses. With this intention, in the next section a brief review of the concept and importance of corporate social responsibility is presented; followed by an analysis of the family business. Subsequently, the specific aspects of the family business that may hinder or facilitate the adoption of responsible behavior are discussed; and finally, the main conclusions are presented.
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In order to corroborate or refute this discrepancy, we have carried out a systematic literature review that analyzes the evolution of the work on the internationalization of the family business in recent years, identifying the research issues and the number of articles published. The process of systematic literature review has its roots in the 90s and was initially used in the medical field, but more recently has also been adopted in the social sciences, specifically in areas such as marketing, tourism and strategic innovation (Ginieis, Sánchez-Rebull & Campa- Planas, 2011). This process involves documenting all procedures carried out to perform the search. In this sense, Denyer and Neely (2004) argue that the systematic review report should contain a separate section on methodology that describes how the study has been carried out. In this work, for example, three steps were followed to identify relevant papers on the internationalization of the FB.
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Abstract. This study has the objective to propose a group of strategies to help the Family Business Manager to solve the succession problems; by using these strategies the family business can conquer a transition power that creates the most wealth posible to the business and to the familiy. This study is presented as a descrptive research, with basis on the most recently research about succession problems on family business. The Familiy Business Managers who want that business still belongs to familiy have the obligation of developing a succession plan that allows the company continue being competitive when family business manager leaves the company. The strategies included in this study must be promoted by the Family Business Manager who must take care of leading the directive team to sucessuful power change. The strategies proposed in this study are: Creating a Family Business Conseil; Choosing the succesor from an analitical point of view; Get pschicologist support in the succesion period; To create a Business Society; Partial Retirement of Director; An adequate compensation management; Open communication among all the members; and a provisional management.
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Abstract: The present investigation has the purpose of establishing the implementation of the legal norms of the family companies, through the analysis of the state regulations of Ecuador according to the Law of Companies. Its development was done through the problem of family businesses, to constitute them as legal entities. The methodology of the research is a qualitative approach of descriptive scope, since it details the behavior of family businesses to adapt to the jurisdictional change, and denote the benefits they have. It was concluded that companies, in applying regulatory legal regulations, tend to have benefits and obtain future economic growth.
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Granovetter (1973), Anderson, Jack and Drakopoulou (2006) distinguish between two types of network ties in an entrepreneurial network: strong ties and weak ties. The first type include “network contacts are those people with whom the entrepreneur has a close personal relationship, and with whom he or she interacts quite frequently” and they are family and friends. The second type “are more distant emotionally and may be activated only infrequently”. These authors underline the fact that strong ties have been found to provide very high- quality resources —especially information— which is often not commercially available and is very well focused on the specific needs of the entrepreneur and the business. However, because family and friends tend to move in the same circles as the entrepreneur, these resources may not offer much beyond the entrepreneur’s own scope; that is, they may not be adequately diverse in nature. In the debate about what kind of tie is more important for a firm, Jack (2005) concludes that “the effectiveness of the network seems to depend upon the presence of both strong and weak ties since different forms of ties are seen to provide distinct and different resources”.
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And so as Guido and his two brothers continue to guide their pasta giant of a company into the next decade, one can only wonder what will come of the company when the next generation of Barillas take over, even though that future may still be far away. According to White, Krinke and Geller, prominent financial planners, family succession planning for a family business requires more than basic estate planning tools. It requires an ability to consider the special rules that impact family business succession plans, identify the unique opportunities for structuring ownership to take maximum advantage of the available transfer techniques best suited for the client’s needs (White, Krinke & Geller, 2004). Some of those needs are highly technical and exceed the scope of this paper, but demonstrate the dizzying array of planning needed
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The reconstruction of family life cannot be reduced to something, which takes place mechanically, or to the cure of a medical disorder. It cannot be reduced to its social, psychological and legal components. The delicate and elaborate relational architecture of the intentions and meanings of family interaction cannot easily be described and analyzed. However there are ways of describing family interaction, and thus a scientific base for family education and family therapy. It demands a systematic way of understanding and dealing with the validity of human subjective experience without reducing it to something else. Social psychology and relational sociology (Cooley, 1922; Mead, 1934; Shibutani, 1962; Blumer, 1969; Turner, 1970; Burr, Hill, Nye and Reiss, 1979; Donati, 1989) made some progress in developing an understanding of mutual communication, intentionality, and mutual action in families. Social relationships are created out of human experience and interaction. There are relations between the way people perceive reality, the way people act, their patterns of action, and the structures of relationships which they create. These structures in turn stabilize personal patterns and perceptions in a dense, complex recursive relationship. The relation between people’s patterns of behavior and their constructions of their world does not necessarily make behavior predictable in any linear or mechanical way. On the contrary when we allow for people’s differing perceptions, behavior becomes somewhat indeterminate. An intentional social world is an indeterminate social world. It is open to reconstruction through mutual communication, mutual commitments and mutual action. Dependent on human volition, on human capabilities, such
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Messages of interaction protocols should be understood in the same way by the enterprises involved in a B2B relationship. This can be achieved through the use of a common semantic for the specification of messages. This semantic should be clear and should define the complete set of message types that can be used in B2B interactions. The message types should represent different intentions that an enterprise wishes to express in the processes. Intentions are important to describe negotiations. Besides, the semantic of the messages should be based on formalisms and should be separated of the message content definition. Message content is defined by business document types. The semantic of the message content is different and independent from the semantic of the message type. The semantic of the message content refers to the common knowledge model and vocabulary necessary to understand in a same way the information exchanged by the partners . Several B2B standards can be used to define messages of the interaction protocols. Some B2B standards provide a set of message types together with their content, like RosettaNet (www.rosettanet.org). Other B2B standards provide a set of verbs that can be used to define messages, like OAGIS (www.openapplications.org). Other alternative is to define and agree between the partners the semantic of the message types, which can be defined through a B2B standard, like ebXML (www.ebxml.org) or OAGIS. These B2B standards can be used to define particular messages and business documents.
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On the contrary, Bunkanwanicha et al. (2008); Boubakri et al. (2005); and Kim (2006) conclude that high ownership concentration (as in family hands) reduces agency costs and favors firm performance. Majority shareholders have greater incentives to monitor companies, in order to maximize profits; they might also hold an executive position which diminishes struggles between private and collective interests. In addition, in emerging markets families´ reputation might be needed in order to obtain external funding. High family ownership concentration favors long-term relationships in the companies, security and stability, together with knowledge transfer, which positively impacts investment and financial results - even during crisis times (Müller, 2014; Franks et al., 2008, 2012; Hauswald et al., 2015). Instead, in turbulent times, due to the circumstances, shareholders from widely dispersed-owned firms walk away from the corporations, which further deteriorates companies´ value (for instance, by selling shares with discount).
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At the end of the Second World War, experts in Strategic Planning moved into private initiative, applying the same concepts of forecasting and planning, with great success. Some of the specialist consultancy firms were created, such as McKinsey, the Boston Consulting Group or Booz, Allen & Hamilton. At this point, I think we should mention the contribution made by Professor Igor Ansoff, who was trained in the Rand Corporation to resolve strategic problems for NATO. In a series of publications (“Corporate Strategy” (1965), “From Strategic Planning to Strategic Management” (1976) and “Strategic Management” (1979)), he laid the foundations for what today is known as Strategic Business Management. In particular, Ansoff is responsible for the “product/market” combinations in which companies compete (possibly requiring different strategies), and the decentralised preparation and implementation of plans by operating unit managers who act as agents for change.
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In order to support the advancement of the service offer, Study 2 found that Alpha needed to develop specialized service capabilities. In regard to this, Study 2 highlighted the critical event of separating the service business unit from the traditional product business. This organizational design solution gave more independence to the service sales function, which was previously subordinate to the product sales function. Thus, in order to promote the service contracts, a specialized service sales force capable of demonstrating service values was set up. Furthermore, rolling out the service sales was an initial trigger, followed by a need to further develop specialized back-end service capabilities such as service marketing and service R&D capabilities. Consequently, the service marketing competences included offering customization, customer segmentation and assessing the customer’s lifetime value. On the other hand, service R&D capabilities relate to the in- house consultancy that supported all “front-end” service activities. Service R&D capability brought granularity and a breakdown of the service costs as well as assisting the service personnel during the repair process and resolving the customer’s inquiries. Finally, Study 4 demonstrated that while intermediate services help generate higher service revenues, they are also associated with high resource and capability investments. While basic services showed a relatively quick return on investment (new service technicians versus basic service revenues), service contracts require significant investments in service capabilities as well as experimentation in order to generate and test different capability configurations. Consequently, service contracts impose higher risks of creating a non-viable business model.
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The Council of Universities has given the go-ahead to the first three UOC degree courses adapted to the EHEA: Law, Psychology and Humani- ties. Apart from these three degree courses, four official master’s degree courses have been adapted: the master’s degree in Health and Safety in the Workplace and three master’s degree courses that were already avail- able at the UOC: the master’s degree in Education and ICT (e-learning), the Free Software master’s degree and the master’s degree in the Information and Knowledge Society. Likewise, the doctorate on the Information and Knowledge Society also started to operate according to EHEA guidelines. Keeping its sights on upcoming academic years, the UOC will extend its of- fer of EHEA-adapted degree and postgraduate qualifications. As such, the Council of Universities has received eleven sets of degree and two mas- ter’s degree specifications. The University wishes to offer the following new degree courses in the academic year 2009-2010: Business Administration and management; marketing and market research; Tourism; Communica- tions; Information and Communication Sciences; Catalan Language and Literature; multimedia Studies; Computer Engineering; Social Education;
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Finalmente, podría asegurarse que hoy en día el Business Informático (Negocio Informático), está detrás de casi todo lo que nos rodea, puesto que la sociedad actual, por encontrarse en un constante proceso de transformación hacia un mundo cada día más globalizado, (particularmente nuestra región, que incansablemente dirige un lento pero persistente esfuerzo por idear y producir teniendo como ejemplo a las potencias económicas del mundo), seguirá influenciado por los avances tecnológicos que de una manera u otra siempre van obnubilando tanto al productor de bienes y servicios como al usuario final con las bondades y facilidades que ofrece, es decir, la tendencia siempre será, por el lado de los oferentes del negocio informático, competir por ser el primera o la mejor empresa al ofrecer soluciones tato a otras empresas como a usuarios particulares, que por consiguiente se traduzca en éxito financiero; y por el otro lado, el de los consumidores, siempre estará presente la necesidad de satisfacer esas necesidades a través de productos y servicios que cumplan las exigencias pretendidas.
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and biofuels provide an opportunity for the private sector to invest on grains for livestock feed and sugarcane and non-‐food crops for biofuels. Despite of the potentialities of these demands in terms of economic benefits and business, a comprehensive consideration must be taken on the sensitiveness of these issues and the possible impacts that it may have on global food security. As such, it is essential to reach a complementary between the roles of public institutions and private firms. In any case, it is worth face these risks associated, as benefits of such investments are many. Examples of the many positive outcomes of private investment and FDI on the agriculture include: secure food supplies and reduction the price volatilities, generation of jobs, increasing of local incomes directly or indirectly, diversification of rural economy, access to new technologies and inputs, access to new markets, etc. In addition, agriculture and agribusiness could make a strong contribution to gender empowerment by allowing women to generate an income. On the contrary, among the several risks that entails for both, citizens and local communities, and also private investors, there are: risks involved in producing non-‐traditional crops; discount of land use, property and rights; diversion of land use to non-‐productive use or non-‐food crops; increasing emphasis on export-‐oriented agriculture; little benefits sharing; policy changes, such as export bans; etc.
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The proposal will be started before the development of the plan, with a market research based on researches related to the future company, which will help supporting the decisions made all along the plan. After that, the considered points will be started, such as the business description, the markets demand, the competition and finally the strategy. The resources and financial plan points won’t be considered in this paper, due to the lack of documental resources for its development and also because of the space limitations of this document. Also, in every part of the paper where these two points are included, we will only make references based on non-supported forecasts. The paper will conclude with a conclusion based on the obtained results and a series of recommendations for future studies.
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A qualitative study performed on a representative group of participating SMEs indicated positive results. SMEs’ executives reported benefits such as controlled inventories; reduced product breakages; efficient invoicing systems; specified job descriptions; updated sales reports; among others. SME’s managers adopted new strategies such as diversification of products and markets, while others focused their efforts on employee training and less rotation through robust selection processes. Marketing strategies were found in selected cases where brand image was critical for business sustainability. Similarly, a few SMEs incorporated a strategy of technological updating, in order to have operations at a greater scale.
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In the unit 3 project, you will choose a family member or a friend that lives in a foreign country and write a letter to that person. The project will be called “Keeping in touch”. In this project you will learn how to write and address a letter. You will ask about your family member or friend’s life, about new traditions or customs that person is experiencing and about that person’s family. You will also describe your life. You will understand the reasons why we need to have good communication with our family members and friends. The goal of this project is that you will incorporate the objectives of this unit, learn to write a letter, learn to properly address a letter, and understand the importance of communication with family members and friends.
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The possibility of accompanying and analyzing the behavior, equally important, of the categorization of rural producers over the years, according to the position in the occupation, type of occupation and position in the family, as well as income by family and gender and the sources of income, have helped clarify and reveal the trajectory of Brazilian rurality in a panoramic way. The research that was developed with the methodology of the Rurban Project -especially the use of the typology of families that this project elaborates- helped to reveal substantially the regional differences of the categories of farmers and rural non- farmers, and allowed the deepening of the knowledge about the dynamics and trends of employment, income and living conditions of rural people and families, no longer in a static scenario, but with a move towards a more dynamic analytical framework, that enables an almost continuous analysis over time. The obtained results increased the rigor of the analyses and allowed many interpretations about the reality of Brazilian rurality, and particularly about family agriculture.
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Se aprecian errores en algunos recursos citados en la declaración de SemFYC. Así, Archives of Family Medicine cesó en 2000; BMC Family Medicine se llama BMC Family Practice; Canadian Family Practice es Canadian Family Phy- sician; Journal of American Board of Family Practice pasó a denominarse Journal of the American Board of Family Medicine en 2006. Una colaboración entre documentalistas y el grupo de trabajo de SemFYC hubiese podido subsanar estos errores en origen 19 . La tabla 2 muestra los títulos con
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