Nature of Family Business

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

Chapter 1 in Entrepreneurial Family Businesses, 2024, pp 3-34 from Springer

Abstract: Abstract Family businesses represent the majority of companies and are an important source for the generation of jobs in most countries. This chapter treats the different definition approaches of family businesses, roles in family business and family business goals. Further, in this introductory chapter, family business systems (family, ownership, and business) and theoretical frameworks of family businesses (Three-Circle Model, Developmental Model, and Balance Point Model) will be discussed. The chapter ends with entrepreneurship in family business, economic contribution of family business, and advantages and disadvantages of the family business. This chapter presents a review of some general, but very important issues, related to family businesses.

Keywords: Balance point model; Developmental model; Entrepreneurship; Family; Family business; Family entrepreneurship; Non-family business; Three-circle model (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-031-59261-4_1

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DOI: 10.1007/978-3-031-59261-4_1

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