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Nature of Family Business

In: Entrepreneurial Family Businesses

Author

Listed:
  • Veland Ramadani

    (South East European University)

  • Erick P. C. Chang

    (Arkansas State University)

  • Ramo Palalić

    (Sultan Qaboos University)

  • Esra Memili

    (University of North Carolina at Greensboro)

Abstract

Family businesses represent the majority of companies and are an important source for the generation of jobs in most countries. This chapter treats the different definition approaches of family businesses, roles in family business and family business goals. Further, in this introductory chapter, family business systems (family, ownership, and business) and theoretical frameworks of family businesses (Three-Circle Model, Developmental Model, and Balance Point Model) will be discussed. The chapter ends with entrepreneurship in family business, economic contribution of family business, and advantages and disadvantages of the family business. This chapter presents a review of some general, but very important issues, related to family businesses.

Suggested Citation

  • Veland Ramadani & Erick P. C. Chang & Ramo Palalić & Esra Memili, 2024. "Nature of Family Business," Springer Texts in Business and Economics, in: Entrepreneurial Family Businesses, edition 2, chapter 1, pages 3-34, Springer.
    • Handle: RePEc:spr:sptchp:978-3-031-59261-4_1
    DOI: 10.1007/978-3-031-59261-4_1
    as

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