DIMENSION OF MANAGERIAL CONTROL IN FAMILY BUSINESS

Adriana Cioca and Delia Popescu

Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, 2019, vol. 13, issue 1, 37-49

Abstract: One of the important elements which make the family business to be unique is the family influence over the business. To exert such an influence means to be aware of the business needs and to control them. The Article is focused on the private family business influence and analyzes the five dimensions control and their characteristics with consequences on the particularity of the business sector and firm financial performance: the degree of control is realized by the founder and/or the family members or the coalition of the family offices. The amount of control is done by the complexity number and relationship between owner and/or coalition family offices and CEO. The particularity of the business sector implies the need for a better inside or outside experience and expertise in controlling the business. The culture of the family business brings philosophy control, the unique pattern and economic goals. The succession plan is one of the earlier controlling procedures in mediating possible negative effects over the business. Thus, the Authors will draw for each theoretical dimension a hypothesis which will be demonstrated afterward with a questionnaire. By having better control, the tendency of the private family business is to have centralized decision-making.

Keywords: control; dimension; family; niche; succession (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:rom:mancon:v:13:y:2019:i:1:p:37-49

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