Family Business: management practices, growth and succession issues

摘要: Family businesses comprise the predominant form of enterprise around world, yet, until now, few structured information is available on unique and complex issues they face. This may be attributed to fact that only in past 20 years researchers have started study understand core fundamental idea: family differ critically from non-family business. In an attempt explain success business context Kelantan, one north-eastern corner Peninsula Malaysia, a state actively associated with small entrepreneurial belt businesses, question at forefront is: What are key factors which determine successful continuity across generations Kelantan?This research identifies by examining management practices these businesses; determining potential growth development; addressing intergenerational-transition businesses. A total 55 successors responded survey gave useful insights their journey preparation heir, activities, style characteristics, relationship among members partners, concerns challenges, succession experience current performance. Descriptive correlation analyses were done compile interpret findings. Overall, results refute general postulation selection successor based birth rank, education background gender authoritarian dictates such Puzzled findings this show first generation owner selected competencies many successors, while presence founder or predecessor, enjoy full authority freedom managing Participative, as opposed reported. Findings also conclude performance built upon characteristics business, experience, well challenges. Both theoretical practical implications avenues for future discussed