Sustaining Family Business: Family System Governance Structure Formation

• Main Authors: Ho, Tsai-Jung, 何采容
• Other Authors: Zhou, Zong-Ying
• Format: Others
• Language: en_US
• Published: 2008
• Online Access: http://ndltd.ncl.edu.tw/handle/20849256953471887076

碩士 === 輔仁大學 === 管理學院經營管理碩士學程 === 96 === Family business has always been an important business type around the world and contributes significant portion of the economy from 50 percent to 90 percent of the gross domestic product in all free market. Many large global corporations are also owned by different families – Ford, Wal-Mart, S.C. Johnson, LVMH, and the Barings. Many studies focus on the business side, its sustainability, and succession plan. In contrary, the family’s issues and needs are less likely to grab the attention. Many families even give up the family’s sustainability and trade it with the business’ success. This research focuses on what the family value to the business is and how the family is able to bring in value to the business. It can be divided into three parts – the family system, the family and business system, and the family governing system. In the family system, there are the needs of differentiation and the invisible relationship between the family members. This research also study on the long lasting families about how they structured their system to sustain both the family and the business. The needs of the clear boundary in the family and business system, and how to create the family governing system are also learned from the long lasting family business through how they structure their - I-I system and how they deal with the difficulties and conflicts within the family members regarding business and the family wealth. Regarding the studies through literature review and the real family businesses, this research propose a possible governance structure to offer the family business to govern its family and business to ensure both the family and the business’ sustainability.