Open Access. Powered by Scholars. Published by Universities.®
Entrepreneurial and Small Business Operations Commons™
Open Access. Powered by Scholars. Published by Universities.®
- File Type
Articles 1 - 8 of 8
Full-Text Articles in Entrepreneurial and Small Business Operations
Accession Tournaments: The Application Of A Game Theory Derivative To The Multi-Dimensional Family Business Accession Process (Interactive Paper), Justin Craig, Clay Dibrell
Accession Tournaments: The Application Of A Game Theory Derivative To The Multi-Dimensional Family Business Accession Process (Interactive Paper), Justin Craig, Clay Dibrell
Justin B. Craig
We argue that the recent governance and professionalization focus in family business research conversations, while helpful in understanding succession, and family businesses in general, needs to be complemented with a theoretical discussion of the multi-dimensional accession process. We contend that this process is multi-dimensional as, unlike in a corporate setting where the incumbent is succeeded by a suitable successor, multi-generational family businesses are more complex and there is potentially a plethora of positions of influence for which actors can compete. We use tournament theory to propose how family actors will act in accession tournaments and propose that the absence of …
Understanding Family Enterprise: A Book Of Readings, Ken Moores, Justin Craig
Understanding Family Enterprise: A Book Of Readings, Ken Moores, Justin Craig
Justin B. Craig
This collection of papers, written over a span of about 16 years by researchers associated with the Australian Centre for Family Business (ACFB) at Bond University highlight diversity in family business scholarship. Diversity not only with respect to topics but also the range of audiences to which the various communication messages were delivered is indicative of an area of emerging scholarship. The purpose of the collection is primarily to chronicle the distinctive learning experiences of ACFB researchers rather than be a comprehensive coverage of all aspects of family enterprises.
Australia’S Dennis Family Corporation, Justin Craig, Ken Moores
Australia’S Dennis Family Corporation, Justin Craig, Ken Moores
Justin B. Craig
This paper details how the Australia Dennis family has been able to professionalize their family business while still retaining their family values and realizing the founders’ vision. We detail how Bert and Dawn Dennis and their four adult offspring decided to amalgamate their associated businesses with the parent company and take on the challenge of professionalizing this new entity. We highlight that, although the four siblings had learnt business, they had to now learn their family business. In addition, the CEO, Grant Dennis, had to learn to lead the business. As well, the Dennis family had to learn to give …
Epilogue - Family Business: A Rich Research Repository, Justin Craig, Ken Moores, Carole Howorth, Panikkos Poutziouris
Epilogue - Family Business: A Rich Research Repository, Justin Craig, Ken Moores, Carole Howorth, Panikkos Poutziouris
Justin B. Craig
Extract:
As evidenced in our opening paper Family Business Research at a Tipping Point Threshold (Craig, Moores, Horworth & Poutzouris 2009), family business as a research pursuit has undergone significant growth during the last decade (Heck, Hoy, Poutziouris & Steier 2008; Sharma, Hoy, Astrachan & Koiranen 2007). The issues that have faced family business as a research destination are common among all emerging fields (Moores 2009b). Diverse methods are appropriate when the questions being asked are more common than the answers being provided. Therefore, a range of qualitative and quantitative methods are involved according to the nature of questions. Although …
Agency Differences In Professional Family Businesses: The Known And The Unknown, Ken Moores, Justin Craig
Agency Differences In Professional Family Businesses: The Known And The Unknown, Ken Moores, Justin Craig
Justin B. Craig
We suggest in this paper one of the reasons that researchers concur agency costs in family firms are more complex than originally thought maybe related to the lack of conceptual clarity. This, we propose, is because when frameworks and theories are borrowed and enthusiastically embraced without attention to clearly defining concepts from original sources, conceptual clarity is clouded. Clarity is achieved by specifying the conditions necessary for these concepts to be applicable in generating originally envisaged consequences. We present the conditions necessary for the optimum applicability of original agency theoretical concepts in family firms and tentatively distinguish between what is …
From Vision To Variables: A Scorecard To Continue The Professionalization Of A Family Firm, Ken Moores, Justin Craig
From Vision To Variables: A Scorecard To Continue The Professionalization Of A Family Firm, Ken Moores, Justin Craig
Justin B. Craig
This chapter builds on previous projects we have conducted that have concentrated on the key areas of corporate governance and strategic planning in family business. Whereas our previous projects have enlisted an additive approach (that saw the family perspective added to the business), this current research takes on an integrated approach and seeks to integrate issues that influence the family and business systems. Specifically, in this research we use innovation action research (Kaplan, 1998) to illustrate how the Balanced Scorecard that includes reference to family business challenges has been introduced and used to assist family members, board members and management …
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 …
An Investigation And Behavioural Explanation Of Family Businesser Functioning, Justin B. Craig
An Investigation And Behavioural Explanation Of Family Businesser Functioning, Justin B. Craig
Justin B. Craig
This research investigated the causes of behavioural difficulties among family businessers in two studies. Study one adapted the evolutionary theory of the firm to the family business context in an empirical study that involved 370 family businessers from 46 families. The study found that: (1) stakeholder cohorts within the family (employed by the business versus not employed by the business; owners of stock versus non stock owners; related to founder versus not related; male versus female) were significantly divided on business direction and planning, the introduction of new routines to the business and various roles, habits, norms and codes that …