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Articles 1 - 7 of 7
Full-Text Articles in Business
Family Business Wealth And Knowledge Transfer, Justin Craig, Keith Duncan, Frank Barbera, Manuel Eberhard, Marina Skinner
Family Business Wealth And Knowledge Transfer, Justin Craig, Keith Duncan, Frank Barbera, Manuel Eberhard, Marina Skinner
Justin B. Craig
“Knowledge transfer is the key to successful wealth transfer” After years of creating the building blocks to understand family businesses within the greater community, BDO has partnered with The Australian Centre for Family Business (ACFB) and Bond University to undertake an Australian-first report to understand the dynamics of wealth and knowledge transfer, and identify the key trends and issues that will enhance successful transitions within private businesses. This report examines the wealth and knowledge transfer intentions of 320 respondent businesses, the majority of which classified themselves as family businesses. This report will provide an insight into issues such as family-first …
Strategically Aligning Family And Business Systems Using The Balanced Scorecard, Justin Craig, Ken Moores
Strategically Aligning Family And Business Systems Using The Balanced Scorecard, Justin Craig, Ken Moores
Justin B. Craig
We take an integrated approach to align issues that influence the family and business, systems. Using innovation action research (Kaplan, 1998) we illustrate how the Balanced Scorecard, that includes reference to family business challenges can be introduced and used to assist family, members, board members and management in a third-generation Australian family-owned business. The process of scorecard development is discussed and the development of the core essence, vision, and mission statements, strategic objectives, measures and targets, which can be scrutinized by family, business stakeholders to ascertain consistency with the vision of the company, is outlined. We suggest, that, in the …
Founding Family Leadership And Industry Profitability, Trond Randoy, Clay Dibrell, Justin Craig
Founding Family Leadership And Industry Profitability, Trond Randoy, Clay Dibrell, Justin Craig
Justin B. Craig
In this article, we argue that firms in high-margin industries can benefit from founding family influence. Specifically, in more profitable markets, the influence of the founding family provides an additional corporate governance-monitoring function. The sample consists of 294 firm-year observations from 98 publicly traded companies headquartered in Sweden, representing approximately half of all nonfinancial traded firms. Our support that the effect of family leadership in publicly held firms should be assessed in relation to the intensity of industry competition.
Factors Critical In Overcoming The Liability Of Newness: Highlighting The Role Of Family, Clay Dibrell, Justin Craig, Ken Moores, Aaron Johnson, Peter David
Factors Critical In Overcoming The Liability Of Newness: Highlighting The Role Of Family, Clay Dibrell, Justin Craig, Ken Moores, Aaron Johnson, Peter David
Justin B. Craig
With a focus on the role of family, we explore factors critical in enabling start-up ventures to attain legitimacy and overcome the liability of newness. Drawing from multiple interviews with leaders of seven start-up ventures, we investigate the function of a variety of factors [e.g., family, distributors, financial supporters, etc.] deemed critical in attaining venture legitimacy. To validate our findings, we conducted additional interviews with three established family ventures. Our discussion highlights the role of family as a legitimizing strategy and provides an increased awareness of how internal and external resources are leveraged by the start-up to gain legitimacy.
Natural Environment, Market Orientation, And Firm Innovativeness: A Life Cycle Perspective, Clay Dibrell, Justin Craig, Eric Hansen
Natural Environment, Market Orientation, And Firm Innovativeness: A Life Cycle Perspective, Clay Dibrell, Justin Craig, Eric Hansen
Justin B. Craig
We investigate the moderating effects of the natural environment on the market orientation to firm innovativeness relationship in growth versus mature firms. 237 owners or chief executive officer respondents allowed us to establish evidence of (1) positive linkage between market orientation and firm innovativeness and (2) natural environmental policy moderates the market orientation to firm innovativeness relationship in growth ventures and not in their more mature peers. Our findings suggest ventures characterized as being in the growth stage are more likely to employ a more positive policy toward the natural environment to gain a long-term competitive advantage through firm innovativeness.
Championing Family Business Issues To Influence Public Policy: Evidence From Australia, Justin B. Craig, Ken Moores
Championing Family Business Issues To Influence Public Policy: Evidence From Australia, Justin B. Craig, Ken Moores
Justin B. Craig
This paper proposes a strategy for the family firm sector to gain the attention of policy makers. The strategy builds through influencing social expectations, creating political issues, developing legislative actions which are subsequently implemented and regulated. To achieve this, we suggest that the family business sector must achieve salience as a community's definitive stakeholders in which capacity they possess, or are perceived to possess, attributes of power, legitimacy and urgency. Propositions are advanced consistent with developing these attributes that collectively build a policy pathway from the societal benefits that family firms can provide by suggesting the building and management of …
Dummy Boards And Bored Dummies: Changes Needed At Bauer Holdings, Justin Craig, James Bergmuller
Dummy Boards And Bored Dummies: Changes Needed At Bauer Holdings, Justin Craig, James Bergmuller
Justin B. Craig
Frank Bauer rules Bauer Holdings by stealth and sees no reason why he should consider giving up his position as Chairman of the board. In this way, Frank is like many business leaders who have been involved in a multi-generational business since its founding. One of Frank's sons holds a position on the board and although Frank wants this son to eventually take over the business, the anointed son does not have the skills required or the passion to pursue the position. The third generation Bauers' are now questioning their involvement in the business and what role, if any, they …