TQM and Family Owned Business: Performance and Sustainability

Boon In Tan, Kee Luen Wong and Chee-Keong Choong
Additional contact information
Boon In Tan: Universiti Tunku Abdul Rahman, Malaysia
Kee Luen Wong: Universiti Tunku Abdul Rahman, Malaysia

from ToKnowPress

Abstract: TQM or total quality management is a continuous practicing philosophy that could trace its origin from Feigenbaum in 1951 (Martinez-Lorente et al., 1998) where he defines Total Quality Control (TQC). Whereas Miller et al (2007), summarised the definition of family owned business to be as simple and straight forward as, “one in which multiple members of the same family are involved as major owners or managers, either contemporaneously or over time.”). According to Zhang (2000), organizational performance consists of four important dimensions, namely employee satisfaction, customer satisfaction, product quality and strategic business performance. On the other hand, performance could be measured in terms or shareholder returns, growth rate (both profit and revenue), market value of a firm and return on equity etc. It is not easy to single out the growth factor in each enterprise and its driver to assess its performance. In this paper, we assume the firm's performance also implies the growth performance. A better performance of family owned business would be significant as it is widely acknowledged that one of the main objectives of the family owned business is to past down the wealth and business from generation to generation, thus the sustainability objective is of the main agenda for business continuity.

Keywords: family owned business; TQM; organization performance; sustainability (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://www.toknowpress.net/ISBN/978-961-6914-07-9/papers/S4_197-204.pdf full text (application/pdf)

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:tkp:tiim13:s4_197-204

Access Statistics for this chapter

More chapters in Diversity, Technology, and Innovation for Operational Competitiveness: Proceedings of the 2013 International Conference on Technology Innovation and Industrial Management from ToKnowPress
Bibliographic data for series maintained by Maks Jezovnik ().