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The Influence Of Family Relations On Decision Making In Family Businesses

Author

Listed:
  • Stoilkovska, Aleksandra

    (University of Tourism and Management in Skopje)

  • Milenkovska , Violeta

    (University of Tourism and Management in Skopje)

  • Serafimovic , Gordana

    (University of Tourism and Management in Skopje)

Abstract

The peculiarity and uniqueness of family businesses set them apart from other businesses in many things. Natural need of man to survive in these harsh circumstances forces him to constantly seek new sources of funding or simply tries to improve the existing. Secure existence is difficult to ensure. The successful family business provides many benefits: reliable operation, to be your own boss, flexible working hours, family members are taken care of, to become successful with your own strengths. Also this kind of business brings a range of difficulties that have to be overcomed. Apart from the daily struggle for enterprise development in the complex conditions of tough competition and rapid changes in the environment, family businesses face problems of internal character. Namely, the parents are thorn between the family relations, the love towards their children and the consistence in the decision making processes. Although this is a modern and very present theme however owners of family businesses rarely dare to speak publicly on the subject. This paper presents an action research conducted on a sample of 26 family businesses in FYROM. This research study is primarily exploratory in nature, and the research instruments include survey through questionnaires with family member and employees that are not family members

Suggested Citation

  • Stoilkovska, Aleksandra & Milenkovska , Violeta & Serafimovic , Gordana, 2013. "The Influence Of Family Relations On Decision Making In Family Businesses," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 4(1), pages 17-26.
    • Handle: RePEc:ris:utmsje:0063
    as

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    References listed on IDEAS

    as
    1. Collin, Sven-Olof Yrjö & Ahlberg, Jenny, 2012. "Blood in the boardroom: Family relationships influencing the functions of the board," Journal of Family Business Strategy, Elsevier, vol. 3(4), pages 207-219.
    2. Garcia-Castro, Roberto & Casasola, Mª José, 2011. "A set-theoretic analysis of the components of family involvement in publicly listed and major unlisted firms," Journal of Family Business Strategy, Elsevier, vol. 2(1), pages 15-25, March.
    3. Kontinen, Tanja & Ojala, Arto, 2010. "The internationalization of family businesses: A review of extant research," Journal of Family Business Strategy, Elsevier, vol. 1(2), pages 97-107, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    family businesses; family relations; decision making; family members; non-family members;
    All these keywords.

    JEL classification:

    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation

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