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Goal Orientation and Performance of Family Businesses

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  • Yoon Lee
  • Maria Marshall

Abstract

Family businesses consist of family members pooling their resources together to achieve a particular goal for the family business. The objectives of this study were to profile the characteristics of the family businesses and business owners by owners’ goal orientation and to examine the influence of goal orientation on family business performance. The mean differences in values of business size, business age, and business liabilities were statistically significant by owners’ goal orientation. The major findings of this study suggest that owner goal orientation had a statistically significant effect on business performance. Specifically, setting a business goal such as growth or a positive reputation with customers had a significant and positive impact on family business performance. Copyright Springer Science+Business Media, LLC 2013

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  • Yoon Lee & Maria Marshall, 2013. "Goal Orientation and Performance of Family Businesses," Journal of Family and Economic Issues, Springer, vol. 34(3), pages 265-274, September.
    • Handle: RePEc:kap:jfamec:v:34:y:2013:i:3:p:265-274
    DOI: 10.1007/s10834-012-9329-9
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    References listed on IDEAS

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    Cited by:

    1. George Haynes & Maria Marshall & Yoon Lee & Virginia Zuiker & Cynthia R. Jasper & Sandra Sydnor & Corinne Valdivia & Diane Masuo & Linda Niehm & Renee Wiatt, 2021. "Family business research: Reviewing the past, contemplating the future," Journal of Family and Economic Issues, Springer, vol. 42(1), pages 70-83, July.
    2. Martina Sageder & Christine Mitter & Birgit Feldbauer‐Durstmüller, 2018. "Image and reputation of family firms: a systematic literature review of the state of research," Review of Managerial Science, Springer, vol. 12(1), pages 335-377, January.
    3. HM. Thamrin, 2016. "From Goal Orientation To Manager Performance: A Case On Managers Of Shipping Company In Indonesia," Polish Journal of Management Studies, Czestochowa Technical University, Department of Management, vol. 13(2), pages 175-182, June.
    4. Abel Duarte Alonso & Seng Kok & Michelle O’Shea, 2018. "Family Businesses and Adaptation: A Dynamic Capabilities Approach," Journal of Family and Economic Issues, Springer, vol. 39(4), pages 683-698, December.
    5. Ralph I. Williams & Torsten M. Pieper & Franz W. Kellermanns & Joseph H. Astrachan, 2019. "Family business goal formation: a literature review and discussion of alternative algorithms," Management Review Quarterly, Springer, vol. 69(3), pages 329-349, September.

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