Family business

A family business is a commercial organization in which decision-making is influenced by multiple generations of a family, related by blood or marriage or adoption, who has both the ability to influence the vision of the business and the willingness to use this ability to pursue distinctive goals.[1][2] They are closely identified with the firm through leadership or ownership. Owner-manager entrepreneurial firms are not considered to be family businesses because they lack the multi-generational dimension and family influence that create the unique dynamics and relationships of family businesses.

  1. ^ De Massis, Alfredo; Josip Kotlar; Jess H. Chua; James J. Chrisman (2014). "Ability and Willingness as Sufficiency Conditions for Family-Oriented Particularistic Behavior: Implications for Theory and Empirical Studies" (PDF). Journal of Small Business Management. 52 (2): 344–364. doi:10.1111/jsbm.12102. S2CID 53582751.
  2. ^ Alfredo De Massis; Pramodita Sharma; Jess H. Chua; James J. Chrisman (2012). Family Business Studies: An Annotated Bibliography. Cheltenham Glos, UK: Edward Elgar.

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