COMMUNICATION IN THE FAMILY-OWNED BUSINESSES: MAJOR ELEMENT IN THE PRESERVATION OF FAMILY HARMONY, LA COMUNICACION EN LA EMPRESA FAMILIAR, PRINCIPAL ELEMENTO EN LA PRESERVACION DE LA ARMONIA FAMILIAR

Hilario Diaz Guzman and Estela Carolina Fuentes Garcia

Revista Internacional Administracion & Finanzas, 2013, vol. 6, issue 3, 95-114

Abstract: Family business is a vital force in the global economy. Family-owned business is composed of two overlapping subsystems: family and business. But family business management becomes complex because family and business domains often have conflicting sets of needs and values. Family business success often means: harmony for family and growth/profitability for business. Harmony and communication are the strongest pillars of the family-owned business and are closely linked, the second helps to preserve the former. Communication becomes more than just a management tool to become a vital process for family businesses. This is the first statistical study of family businesses in Tehuacan. The survey sample covers 342 family businesses in manufacturing, trade and services in Tehuacan city. The results show that communication in family businesses of Tehuacan is good but somewhat formal, although this last feature does not affect significantly their harmony.

Keywords: Family Business; Family Harmony; Communication (search for similar items in EconPapers)
JEL-codes: M19 M29 (search for similar items in EconPapers)
Date: 2013
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