IMPACT OF RULES ON THE CONTINUITY OF BUSINESS FAMILY OF TEHUACAN, LAS REGLAS DE CONVIVENCIA Y SU INCIDENCIA EN LA CONTINUIDAD DE LAS EMPRESAS FAMILIARES DE TEHUACAN

Hilario Diaz Guzman and Estela Carolina Fuentes Garcia

Revista Internacional Administracion & Finanzas, 2014, vol. 7, issue 6, 63-73

Abstract: The family business is a leading global financial entity. In Mexico, family business is known for being a major source of employment and contributing significantly to the country's economy. Ensuring business continuity is a common challenge faced by many family-owned businesses. The family business system can be described as two independent but overlapping subsystems: business and family. Disputes arising from this overlap area can cause the failure of the family business. Therefore, it is essential have clear rules because it can help avoid conflicts. The survey sample covers 342 family businesses in manufacturing, trade and services in Tehuacan city. The results show there are not clear rules in most family business in Tehuacan. Union and commitment have proved to be key elements for creating strong relationships in the organizations studied and the continuity of the family businesses in Tehuacan.

Keywords: Family Business; Rules Family-Business; Union; Commitment; Family Business Constitution/Charter (search for similar items in EconPapers)
JEL-codes: M19 M29 (search for similar items in EconPapers)
Date: 2014
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