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TQM and Family Owned Business: Performance and Sustainability

Author

Listed:
  • Boon In Tan

    (Universiti Tunku Abdul Rahman, Malaysia)

  • Kee Luen Wong

    (Universiti Tunku Abdul Rahman, Malaysia)

  • Chee Keong Choong

    (Universiti Tunku Abdul Rahman, Malaysia)

Abstract

TQM or total quality management is a continuous practicing philosophy that could trace its origin from Feigenbaum in 1951 (Martinez-Lorente et al., 1998) where he defines Total Quality Control (TQC). Whereas Miller et al (2007), summarised the definition of family owned business to be as simple and straight forward as, “one in which multiple members of the same family are involved as major owners or managers, either contemporaneously or over time.”). According to Zhang (2000), organizational performance consists of four important dimensions, namely employee satisfaction, customer satisfaction, product quality and strategic business performance. On the other hand, performance could be measured in terms or shareholder returns, growth rate (both profit and revenue), market value of a firm and return on equity etc. It is not easy to single out the growth factor in each enterprise and its driver to assess its performance. In this paper, we assume the firm's performance also implies the growth performance. A better performance of family owned business would be significant as it is widely acknowledged that one of the main objectives of the family owned business is to past down the wealth and business from generation to generation, thus the sustainability objective is of the main agenda for business continuity.

Suggested Citation

  • Boon In Tan & Kee Luen Wong & Chee Keong Choong, 2013. "TQM and Family Owned Business: Performance and Sustainability," Diversity, Technology, and Innovation for Operational Competitiveness: Proceedings of the 2013 International Conference on Technology Innovation and Industrial Management,, ToKnowPress.
    • Handle: RePEc:tkp:tiim13:s4_197-204
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    References listed on IDEAS

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    1. Villalonga, Belen & Amit, Raphael, 2006. "How do family ownership, control and management affect firm value?," Journal of Financial Economics, Elsevier, vol. 80(2), pages 385-417, May.
    2. Thomas C. Powell, 1995. "Total quality management as competitive advantage: A review and empirical study," Strategic Management Journal, Wiley Blackwell, vol. 16(1), pages 15-37.
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    4. James J. Chrisman & Jess H. Chua & Pramodita Sharma, 2005. "Trends and Directions in the Development of a Strategic Management Theory of the Family Firm," Entrepreneurship Theory and Practice, , vol. 29(5), pages 555-575, September.
    5. Gallo, Miguel A. & Tapies, Josep & Cappuyns, Kristin, 2000. "Comparison of family and non-family business: Financial logic and personal preferences," IESE Research Papers D/406, IESE Business School.
    6. Ronald C. Anderson & David M. Reeb, 2003. "Founding‐Family Ownership and Firm Performance: Evidence from the S&P 500," Journal of Finance, American Finance Association, vol. 58(3), pages 1301-1328, June.
    7. Miguel Blanco, 2012. "Using Total Quality Management Model to Face the Economic Crisis: The Case of Mercadona," Chapters, in: Kim-Soon Ng (ed.), Quality Management and Practices, IntechOpen.
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    Cited by:

    1. Neyestani, Behnam & Juanzon, Joseph Berlin P., 2016. "Identification of A Set of Appropriate Critical Success Factors for Successful TQM Implementation in Construction, and Other Industries," MPRA Paper 76603, University Library of Munich, Germany.
    2. Neyestani, Behnam & P., Joseph Berlin, 2017. "Identification of A Set of Appropriate Critical Success Factors (CSFs) for Successful TQM Implementation in Construction, and Other Industries," OSF Preprints 7rsw5, Center for Open Science.
    3. Neyestani, Behnam & Juanzon, Joseph Berlin P., 2016. "Developing an Appropriate Performance Measurement Framework for Total Quality Management in Construction, and other Industries," MPRA Paper 76601, University Library of Munich, Germany, revised 30 Nov 2016.
    4. Neyestani, Behnam, 2017. "Developing an Appropriate Performance Measurement Framework for Total Quality Management in Construction, and other Industries," OSF Preprints 72mgv, Center for Open Science.

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