ISSN: 2226-3624
Open access
The purpose of this study was to describe the present circumstances and setbacks of the family owned business in Pakistan. The current study has described the characteristics, types and the threats to the family business in Pakistan. This emphasizes on variables that differentiate successful family owned businesses from non successful family owned businesses. It also shed light on the mode of financing that are used by the family business and also on the succession plan that is adopted by the family business. This is a secondary research study and the data is gathered from the past research papers, newspapers, dissertations, economic bulletins and websites. This analysis demonstrates several key findings, literature analysis reveal six different factors that are necessary for the success of the family business. It also describes the threats that are face by the family business and this research paper also suggests a model to cope up the threats to the family business. Interestingly the findings here are generalized from the literature of the current study. This study describes that if there will be a clear vision, shared values, clear procedure, expectations and proper succession plan, this will show the way to acquire the success of family business. After analyzing the threats this study suggests ten different dynamics which will be helpful to meet those threats. The study also describes the ways and procedures that are necessary for the survival and growth of the business after each succession.
Ardener, S. (1995) Money-Go-Round: The Important of Rotating Savings and Credit Associations for Women Oxford Press Oxford, DC: Berg.
Akeredolu–Ale, E. (1975) “The Underdevelopment of Indigenous Entrepreneurship in Nigeria, Ibadan, Ibadan University Press.
M. Weidenbaum, (1996). The Chinese Family Business Enterprise, California Management Review 38(4) 141-156.
W. G. Dyer, Jr. and W. Handler, (1994). Entrepreneurship and family business: Exploring the connections, Entrepreneurship Theory and Practice, 71-83.
Handler, W. C. (1989). Methodological issues and considerations in studying family businesses. Family Business Review, 2, 257-276.
Hollander, B. S., & Elman, N. S. (1988). Family-owned businesses: An emerging field of inquiry. Family Business Review, 1, 145-164.
Davis, J. A., & Tagiuri, R. (1982). Bivalent attributes of the family firm. Santa Barbara, CA: Owner Managed Business Institute.
Farquhar, K. A. (1989) "Employee Responses to External Executive Succession: Attributions and the Emergence of Leadership." Unpublished doctoral dissertation, Department of Psychology, Boston University.
Dyer, W. G., Jr. Cultural Change in Family Firms: Anticipating and Managing Business and Family Transitions. San Francisco: Jossey-Bass, 1986.
Dreux, D. R. (1990). Financing family business: Alternatives to selling out or going public. Family Business Review, 3, 225-243.
Dumans, C. A. (1990). Preparing the new CEO: managing the father-daughter succession process in family businesses. Family Business Review, 3, 169–181.
Gallo, M. A. (1994). Global perspectives on family businesses. Chicago: Loyola University, Family Business Center.
Hollander, B. S., & Elman, N. S. (1988). Family-owned businesses: An emerging field of inquiry. Family Business Review, 1(2), 145–164.
Monsen, R. J. (1969). Ownership and management: The effect of separation on performance. Business Horizons 12, 46-52.
Lewis, M. W. 2000. "Exploring paradox: Toward a more comprehensive guide." Academy Management Review 25:760-776.
Odueyungbo, F. (2006) Business Management: A Practical Approach. Nolachild Associates, Lagos.
Kaye, K. (1992). The kid brother. Family Business Review, 5(3), 237–256.
Krichoff, B.A. & Krichoff, J.J. 1987. Family contributions to productivity and profitability in small businesses. Journal of Small Business Management, 25(4): 25 – 31.
Upton, N., Teal, E.J. and Felan, J.T. (2001). Strategic and business planning practices of fast growth family businesses. Journal of Small Business Management. 39 (1), 60-72
Donkels, R. & Frolich, E. 1991. Are family businesses really different? European experiences from STRATOS. Family Business Review, 4 (2), 149 - 161.
Ward, J.L., Aronoff, C.E. (1990). Just what is family business? In Aronoff, C.E., Astrachan, J.H. & Ward, J.L. (Eds). 1996 Family Buusiness Sourcebook II Georgia: Business Owner Resources. 2-3.
Villalonga, Belen and Raphael Amit. (2006). How do family ownership, control and management affect firm value? Journal of Financial Economics, 80 (2), 385-417.
Ward, John L. (1987). Keeping the family business healthy: how to plan for continuing growth San Francisco: Jossey-Bass.
Ward, John L. (1988).The Active Board with Outside Directors and the Family Firm. Family Business Review. 1(3), 223-229.
Warin, Jo, Yvette Solomon and Charlie Lewis.(2007). Swapping Stories: Comparing Plots: Triangulating Individual Narratives within Families. International Journal of Social Research Methodology, 10 (02), 121-134.
(Qurashi et al., 2013)
Qurashi, A., Hussain, I., Mushtaq, F., & Assad-Ullah. (2013). The Dilemma of Success and Failure in Family Business: Overcoming Failure and Attaining Success. International Journal of Academic Research in Economics and Management Sciences, 2(4), 156–169.
Copyright: © 2018 The Author(s)
Published by Human Resource Management Academic Research Society (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode