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Non-market-based transfers of wealth and power a research framework for family business / Churchill, Neil

By: Churchill, Neil C

Material type: Article

ArticlePublisher: 1997Description: 53 - 67 In: Family Business ReviewSummary: Family businesses are basically owner-managed enterprises with the family involved within the business. When, to family ties within the business, is added the biological inevitability of an eventual transfer of power, family succession becomes an alternative to selling the business --- a transfer based on non-market considerations. A framework for studying family businesses is proposed which has succession as its anchor. The succession process is where changes in management, in strategy, and in control are planned for and executed. The framework is built upon stages of the family enterprise which emanate from the biological reality of parent and offspring being separated by age and business experience, but wedded together by blood and a shared family experience.

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Item type	Current location	Call number	Vol info	Status	Date due	Barcode
Articles	Ahmedabad (HO)	(Browse shelf)	Vol. 10, Issue. 1	Available		020026

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Previous	Comparison of small businesses with family participation ver businesses without family participation	Strategic management of the family business	Perceptions are reality	Non-market-based transfers of wealth and power	Noren Discount Stores	Resolving family business disputes through meditation	Stakeholder perceptions of culture and management practices and family firms	Next

Family businesses are basically owner-managed enterprises with the family involved within the business. When, to family ties within the business, is added the biological inevitability of an eventual transfer of power, family succession becomes an alternative to selling the business --- a transfer based on non-market considerations. A framework for studying family businesses is proposed which has succession as its anchor. The succession process is where changes in management, in strategy, and in control are planned for and executed. The framework is built upon stages of the family enterprise which emanate from the biological reality of parent and offspring being separated by age and business experience, but wedded together by blood and a shared family experience.

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