Book contents
- Frontmatter
- Contents
- Preface
- Contemporary Dilemmas of Management Sciences
- Organisational Change: Continuous Threat or a Chance for a Better Tomorrow Despite a Worse Today?
- Coopetition and Its Determinants in a Business Group: Theoretical Considerations
- The Effect of Managerial Ownership and Company Performance on CEO Turnover: Evidence from the Polish Two-Tier Board Model
- Effective Management Succession Models in Larger Family Enterprises: Presentation of the Best Practices in the World
- Management of Family Businesses in View of the Challenges of Modern Economy
- The Development of Instruments for Financial Security Management of Households
- Benefits of Competition and Cooperation among Local Government Units within Polish Metropolitan Areas
- Practical Experience in the Formation of Entrepreneurial Competencies among Students
- The Role of Innovation Management Standards in Fostering Innovation Processes in Enterprises
- Organisational Innovations in the e-Business Model Maturity Assessment
- Born Global Organisations in the Contemporary Networks of Relations
- Motives for Creating Open Innovation in Enterprises Operating in Poland
- The Entrepreneurial Context of Nonprofit Manager Assessment: Comparative Case Study
- Analysis of Current Managerial Problems on the Example of a Distinctive Organisational Unit of Public Administration
- Customer Service in a Marketing and Logistics Approach
- Human Resources Management in Enterprises 4.0: Opportunities, Threats and Challenges for Practice and Theory
- Variety Management and Diversity Management as a Response to Complexity
Management of Family Businesses in View of the Challenges of Modern Economy
Published online by Cambridge University Press: 16 November 2021
- Frontmatter
- Contents
- Preface
- Contemporary Dilemmas of Management Sciences
- Organisational Change: Continuous Threat or a Chance for a Better Tomorrow Despite a Worse Today?
- Coopetition and Its Determinants in a Business Group: Theoretical Considerations
- The Effect of Managerial Ownership and Company Performance on CEO Turnover: Evidence from the Polish Two-Tier Board Model
- Effective Management Succession Models in Larger Family Enterprises: Presentation of the Best Practices in the World
- Management of Family Businesses in View of the Challenges of Modern Economy
- The Development of Instruments for Financial Security Management of Households
- Benefits of Competition and Cooperation among Local Government Units within Polish Metropolitan Areas
- Practical Experience in the Formation of Entrepreneurial Competencies among Students
- The Role of Innovation Management Standards in Fostering Innovation Processes in Enterprises
- Organisational Innovations in the e-Business Model Maturity Assessment
- Born Global Organisations in the Contemporary Networks of Relations
- Motives for Creating Open Innovation in Enterprises Operating in Poland
- The Entrepreneurial Context of Nonprofit Manager Assessment: Comparative Case Study
- Analysis of Current Managerial Problems on the Example of a Distinctive Organisational Unit of Public Administration
- Customer Service in a Marketing and Logistics Approach
- Human Resources Management in Enterprises 4.0: Opportunities, Threats and Challenges for Practice and Theory
- Variety Management and Diversity Management as a Response to Complexity
Summary
Abstract
This paper is poised to present the issue of family businesses and the specific role they play in the modern economy as well as to describe the ways in which those businesses deal with the challenges of modern civilisation. Among numerous issues related to the functioning and development of the researched sector, the author focused on the following: the definition, functioning and tasks dealt with by family businesses, the number, the structure as well as the social and economic significance of such firms in comparison to other countries, succession within family businesses, exemplary oldest and largest family businesses in the world, life cycle stages of family businesses as well as the determinants of their development and the directions thereof. Finally, the main challenges faced by those businesses in Poland and the European Union. The argument has been supported by statistical data and the results of questionnaires.
Keywords: family business, functions of family businesses, succession in family businesses, external and internal factors of family business development, life cycle of a family business, a new business model
Introduction
A family business is the oldest and the most popular form of economic activity. Within the framework of centrally managed economy, with the predominant presence of state-owned enterprises, the role of family businesses was marginal. Fortunately, this is becoming a thing of the past, both in Poland as well as in other Eastern European former socialist states. In the broad perspective, family businesses constitute 80% of all enterprises in the USA and Canada, approximately 75% in the EU, and 36–40% in Poland. The latter figure is still on the rise. According to other statistics, family businesses account for approximately 66% of enterprises in the world, employing 80% of total workforce.
This paper is poised to present the specific attributes and functions of family businesses as well as some issues that emerged in the directions of their development over the past few years. It appears those businesses have to face the growing consequences of the 3rd and 4th industrial revolutions (information and digital) as well as other new challenges of civilisation.
The substance and the functions of family businesses in the economy
The substance of a family business consists in the conjunction of two factors, a family and a firm, that is a union of two separate environments represented by business and family life.
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- Information
- The Future of ManagementVolume One: Entrepreneurship, Change and Flexibility, pp. 87 - 105Publisher: Jagiellonian University PressPrint publication year: 2022