Goal Orientation and Performance of Family Businesses

Yoon Lee () and Maria Marshall

Journal of Family and Economic Issues, 2013, vol. 34, issue 3, 265-274

Abstract: Family businesses consist of family members pooling their resources together to achieve a particular goal for the family business. The objectives of this study were to profile the characteristics of the family businesses and business owners by owners’ goal orientation and to examine the influence of goal orientation on family business performance. The mean differences in values of business size, business age, and business liabilities were statistically significant by owners’ goal orientation. The major findings of this study suggest that owner goal orientation had a statistically significant effect on business performance. Specifically, setting a business goal such as growth or a positive reputation with customers had a significant and positive impact on family business performance. Copyright Springer Science+Business Media, LLC 2013

Keywords: Business success; Family business; Goal setting; Performance (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1007/s10834-012-9329-9

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