Strategic Management in the Family Businesses

Veland Ramadani, Esra Memili, Ramo Palalić and Erick P. C. Chang
Additional contact information
Veland Ramadani: South East European University
Esra Memili: University of North Carolina at Greensboro
Ramo Palalić: International University of Sarajevo
Erick P. C. Chang: Arkansas State University

Chapter 3 in Entrepreneurial Family Businesses, 2020, pp 43-53 from Springer

Abstract: Abstract The “essence” of a family firm is thought to be a function of a family’s influence on the culture, functioning, and behavior of the firm owing to the pursuit of a family’s vision for the firm. Accordingly, a family firm’s strategic behaviors tend to be oriented toward preserving the economic as well as noneconomic value of the firm for the family in the long run. In this chapter, the profile family firm Sheetz exhibits growth as a primary strategy through employee care and empowerment, community engagement, and social responsibility. The fast growth of the convenience store chain is proficiently managed by the family as well as employee ownership. The strategies such as employee care, community engagement, and social responsibility are reflective of the family’s strong commitment to values such as unity, harmony, and continuity not only within the family but also in the communities they serve in.

Date: 2020
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-030-47778-3_3

Ordering information: This item can be ordered from
http://www.springer.com/9783030477783

DOI: 10.1007/978-3-030-47778-3_3

Access Statistics for this chapter

More chapters in Springer Texts in Business and Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().