...sets out to evaluate the role that small businesses play in the economy of South Africa. It discusses the role of small businesses in creating jobs, developing of new products and new markets, the flexibility of small businesses to changing markets as well as their aggregate taxes. Promoting small businesses makes sense as an economic development strategy, but with some qualifications. Small businesses are potent job creators, but so are large businesses. The attribution of the bulk of net job creation to small businesses arises largely from relatively large job losses in large firms, not to especially robust job creation by small firms. More importantly, data show that large businesses offer better jobs than small businesses, on average, in terms of both compensation and stability. Further, there is little convincing evidence to suggest that small businesses have an edge over larger businesses in innovation. However, research and experience show that pursuing large businesses is likely to be a poor economic development strategy, which suggests that promoting and fostering small businesses may offer a more viable alternative. Small businesses also contribute to the tax returns in the country. Although their contribution is far lesser than those larger companies provide, it still counts. The competition that small businesses stimulate is a driving force in the economy, as well as a challenge to the larger companies. Background Reading Small, medium and micro-enterprise (SMME)...
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...Family business models This page intentionally left blank Family business models Practical solutions for the family business Alberto Gimeno Associate Professor in Business Policy and Director of the Advanced Management Program (AMP), ESADE Business School, Spain Gemma Baulenas Family Business Knowledge S.L. Joan Coma-Cros Family Business Knowledge S.L. © Alberto Gimeno, Gemma Baulenas & Joan Coma-Cros 2010 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6–10 Kirby Street, London EC1N 8TS. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The authors have asserted their rights to be identified as the authors of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2010 by PALGRAVE MACMILLAN Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan in the US is a division of St Martin’s Press LLC, 175 Fifth Avenue...
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...International Bhd At 05:58 16 March 2015 (PT) International Journal of Entrepreneurial Behavior & Research Factors influencing family business succession Michael H. Morris Roy W. Williams Deon Nel Article information: To cite this document: Michael H. Morris Roy W. Williams Deon Nel, (1996),"Factors influencing family business succession", International Journal of Entrepreneurial Behavior & Research, Vol. 2 Iss 3 pp. 68 - 81 Permanent link to this document: http://dx.doi.org/10.1108/13552559610153261 Downloaded on: 16 March 2015, At: 05:58 (PT) References: this document contains references to 42 other documents. To copy this document: permissions@emeraldinsight.com The fulltext of this document has been downloaded 5908 times since 2006* Users who downloaded this article also downloaded: Barry Ip, Gabriel Jacobs, (2006),"Business succession planning: a review of the evidence", Journal of Small Business and Enterprise Development, Vol. 13 Iss 3 pp. 326-350 http://dx.doi.org/10.1108/14626000610680235 Robert N. Lussier, Matthew C. Sonfield, (2012),"Family businesses' succession planning: a seven-country comparison", Journal of Small Business and Enterprise Development, Vol. 19 Iss 1 pp. 7-19 http://dx.doi.org/10.1108/14626001211196370 Yong Wang, David Watkins, Neil Harris, Keith Spicer, (2004),"The relationship between succession issues and business performance: Evidence from UK family SMEs", International Journal of Entrepreneurial Behaviour & Research, Vol. 10...
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...ISBN (13): 978-1-4438-4604-2 TABLE OF CONTENTS Chapter One ................................................................................................. 1 Knowledge Hybridization: An Innovative Business Practices to Overcome the Limits of the Top-Down Transfers within a Multinational Corporation Hela Chebbi, Dorra Yahiaoui, Demetris Vrontis and Alkis Thrassou Chapter Two .............................................................................................. 17 Rethinking Talent Management in Organizations: Towards a Boundary-less Model Carrie Foster, Neil Moore and Peter Stokes Chapter Three ............................................................................................ 42 Solidarity as a “Commons” to be Promoted: Organisation of Collective Action for a More Responsible Management Bernard Paranque Chapter Four .............................................................................................. 65 Mindset and Behaviour Effect on Firm Performance Stefano...
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...| ELITE 9 | | | SUCCESSION MANAGEMENT | | Submitted to- Muhammad Abdul Baset Assistant Professor Department of Management Studies Jahangirnagar University, Savar, Dhaka. Submitted by- ELITE 9(Academic Group) Session: 2014-2015 Department of Management Studies Jahangirnagar University, Savar, Dhaka. Date of Submission: 25/02/16 ------------------------------------------------- Group Name- ELITE 9 Department of Management Studies Jahangirnagar University Savar, Dhaka. Members of the group- Name | ID | Tasnia Zannat | 682 | Farjana Akter | 684 | Manal Binte Md Ullah | 686 | Homaira Amin | 689 | Asura Akter Sunna | 692 | Raiyan-Ul Jannah | 694 | Munmun Rahaman | 695 | Fahima Sultana | 696 | Robiul Awal Tuhin | 697 | Course Name: Human Resource Planning Course Code: HRM-502 Group leader: Tasnia Zannat ID-682 Letter of Transmittal 25th February, 2016 Muhammad Abdul Baset Assistant Professor, Department of Management Studies, Jahangirnagar University, Savar, Dhaka. Subject: Submission of an assignment on “Succession Management”. Dear Sir, We the students of Elite 9 group from Department of Management studies of 1st batch. We are going to submit our report as the part of our course objectives. During the process of preparing the assignment, we get the chance of...
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...5 Tangible Benefits Governance challenges For Family-owned businesses Implementing Tangible Benefits Motivation Implementing Purpose Alignment Family Business Challenges Planning What To Do Family Business Challenges What To Do KEY MESSAGES To an extent, family control yields benefits. Academic research and experience from many companies and investors all show that a certain degree of family ownership/control provides positive benefits to the family business and its shareholders. Family-owned firms face unique challenges. However, many failures of family-owned companies indicate that such firms also face a multitude of challenges which risk destroying shareholder value or even the business itself. Corporate governance measures lead to long-term success and keep peace in the family. Corporate governance measures at the family and business levels provide good solutions to family ownership challenges and often are indispensable to the long-term success of the family business nd peace in the controlling family, especially with succeeding generations. —a “…We have two options; there is no right or wrong decision, nor one that is better than the other. But whatever is to be done, will be definitive. There is no turning back. We can continue being a family business, like in my grandfather’s and father’s days, or become a professional company with a strong and clear capital market strategy.” —David Feffer, Suzano, Chairman of...
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...PREPARING THE NEXT GENERATION Key to the successful evolution of any family business is the development of the younger generation of the family members for the leadership, commercial and general business skills demanded of the family by the business. In addition, younger generations should understand the responsibilities that success can bring, and how best to ensure their positions of commercial influence and the benefits given to them by personal affluence, are deployed in ways which will give them the best chance of fulfilled, productive and happy lives. Key challenges include: * Development of family members involved in the business and preparing them for future leadership if appropriate * Educating the next generation to be responsible owners of the business * Encouraging them to be responsible with wealth * Developing a cohesive team in the next generation which can work together to arrive at consensus, allowing continued business success and family harmony. Challenges facing the next generation The next generation often have a tough act to follow. This, coupled with the normal challenges of family life, presents a particularly demanding set of challenges, including: * Increased choices - not all will want to join the business straight from study, if at all * The pressure of living up to expectations * Sibling rivalry * Knowing how to connect with the business if they are not directly involved * Changing lifestyles - children in family...
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...IMPACT OF CORPORATE GOVERNANCE ON FIRMS PERFORMANCE: CASE OF FAMILY FIRMS IN MALAYSIA CHAPTER 1: INTRODUCTION 1.0 Background of Study For many years and in many economies, most of business activity was accompanied by proprietorships, partnerships, or closed corporations. In these forms of organizations, a small and closely related group of individuals belongings the same family or co-operating in business for lightly periods runs the firm and share the profit. A lot of attention, has focused on the relationship between ownership structure and corporate performance for instance, a research agenda on the implications of ownership structure on corporate governance by La Porta et al (2000) sustain the legal structure does not offer sufficient protection for outside investor or entrepreneurs, original owners are forced to maintain large position in their companies which results in a concentrated form of ownership thus having implications on ownership structure. On the other hand, more of evidence according to Shirley and Walsh (2001) indicates the private held firms are more efficient and more profitable than publicly held ones although the evidence differs on the relative merit of the identity of each private owner. In 1976, Jensen and Meckling provided results of their researches on ownership structure and firm performance by dividing shareholders into internal investor with management right and external shareholder who are investor without the ballot right. The...
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...| Resolute Group | | | Mark A. Johnson | Spring 2012 | | Appendix Resolute Group Work: Page: Conceptualization/Introduction 2 Vision/Mission 2 Principles 2 Services Offered 3-4 General Environment 4-5 Assessment of Environment 5-6 Opportunities/ Threats 7 Revenue 7-8 SWOT 9 Tactic and Strategy 9 Balanced Scorecard 10 Explanation of Financials 11-12 Financial Sheet 13 A. Conceptualizing Paper Our business, Resolute Group, will be a small to medium size consulting firm that utilizes our team member strengths in consulting and evaluating current and new businesses. Each team member will have hired a team that specializes in the respective field. Our customers are business leaders, managers, and even current potential business owners, looking to establish a position in the market of Albany, GA and surrounding counties. We will consult these customers on the multiple marketing avenues, the business strategy sector, as well as public relation avenues these businesses could take. Other consulting advice could also include, but not limited to, whom to speak with on establishing certain businesses, review of current and former financial statements, basic public speaking seminars, and internal organizational review. Mission Statement Initiating Dreams into Realities’ Vision Resolute Group...
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...Introduction The Castle’s Family Restaurant has the potential to become more successful if it invests in automation of its HR functions. In other words, an HRIS would assist this family business to become more efficient. The purpose of the HRIS is to provide accurate and timely service to companies so that they can use the additional time to improve their business (Kavanagh, 2012, p.17). The Castle’s Family Restaurant can also reduce the costs of their business by having all the information in one place, which will be used multiple times by managers and employees. Therefore, this will prevent the company from performing a particular process manually, which can be time consuming. When choosing to automate an HR function, it is important to understand its content and the benefits it will provide for the business. Since this family restaurant has over 300 employees, it is necessary to begin by using an HRIS application and choose a vendor that would best meet the restaurants’ needs. As it was mentioned previously, Castle’s Family Restaurant would improve its restaurant productivity, retention, training, and profits if it invested in an HRIS to assist Mr. Morgan complete his HR tasks in a cost-effective and timely manner. This would also provide Mr. Morgan with more time to dive into the more operational side of the business in order to reach organizational goals. Last, the HRIS would benefit the employees as well because they would have access to their payments, work schedule...
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...Journal of Management Research ISSN 1941-899X 2012, Vol. 4, No. 2 Talent Management: Effect on Organizational Performance James Sunday KEHINDE, PhD, ACA Dept. of Accounting, Faculty of Management Sciences Lagos State University, Ojo, Nigeria, West Africa Tel: 234-802-307-5627 Received: September 8, 2011 doi:10.5296/jmr.v4i2.937 E-mail: pastorkehindebox@yahoo.com Accepted: November 25, 2011 Published: April 1, 2012 URL: http://dx.doi.org/10.5296/jmr.v4i2.937 Abstract Talent management is a new concept but difficult phenomenon to measure. The impact of talent management on organizational performance is a problem especially where only strategic staffs is treated as talents of the firm. The purpose of the study is to examine the effect of talent management on organizational performance. The questionnaire was used as the survey method of collecting primary data for the study. Correlation coefficient, t- student distribution and the descriptive analyses were the methods used to analyze the data gathered. The analyses revealed that talent management has positive impact on the organizational overall performance. It also revealed that talent management scheme has impact on the performance of the multinational and the national firm but the small and medium scale firms have not been gaining from this new technique within the Nigerian business environment. The study therefore recommends that talent management scheme should be used for all categories of staff within the firm that have...
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...have to consider how to tap into labor markets that have these new skills. Labor Unions Labor unions are legally protected entities that organize employees and bargain with management to establish terms and conditions of employment via a labor contract. About 12% of the labor force is unionized, with 7.4% unionization in the private sector and 36% in the public sector.14 Trends suggest a continued decline in private sector unionization as well as an increasing level of public sector unionization.15 Labor and management are required to bargain in good faith to try to reach agreement on the contract. Many staffing issues may be bargained, including staffing levels, location of facilities, overtime and work schedules, job descriptions and classifications, seniority provisions, promotions and transfers, layoffs and terminations, hiring pools, KSAO requirements, grievance procedures, alternative dispute resolution procedures, employment discrimination protection, and, very important, pay and benefits. Virtually all aspects of the staffing process are thus affected by negotiations and the resultant labor agreement. Labor unions thus have direct and powerful impacts on staffing and other HR systems. Even in nonunion situations the union influence can be felt through "spillover effects" in which management tries to emulate the pay and benefits, as well as staffing practices, found in unionized settings. HUMAN RESOURCE PLANNING Human resource planning (HRP) is a process and...
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...execution, our planning amounts to little more than wishful thinking. Initiatives and activities that are strategically-focused, properly-prioritized, well-planned, and well-executed bring strategic plans to fruition. How do we ensure that we undertake the best initiatives and activities possible? It is a difficult challenge. One size does not fit all. What works for one region will not necessarily work for another. There are desired states called ‘outcomes’ that we are trying to achieve. We undertake activities and initiatives that will produce products or services called ‘outputs’ that will contribute to achieving our desired outcomes. We control the outputs we produce but not the outcomes we hope to influence. We use opportunity management processes to ensure that the initiatives and activities we undertake are those most likely to positively shape the outcomes we desire. All organizations have limited time, limited funds, limited skills, limited volunteer base, etc. There are only so many initiatives or activities that any organization can undertake. It is critical that the work we do fit with our logic model, produce tangible benefits, be undertaken in partnership (where possible) to leverage resources,...
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...principles, and as their environments change, so should the system in order to adapt and improve. This paper reviews the corporate governance aspects of Scouts Victoria. As an organisation with a hybrid of volunteer and paid staff, Scouts Victoria provides an interesting insight of how corporate governance methodologies can be adopted. The organisation is well advanced in its values and policies, and has established policies around board appointments and organisation management. While recognising this, there are also opportunities for improving processes, giving greater community confidence that one of their iconic volunteer organisations is professionally managed and focused on delivering well-structured programs for the youth of Victoria. Contents Introduction 3 Principles of Good Governance in the Not For Profit Sector 3 Regulatory Framework 3 Role and Responsibilities - The Board's Effectiveness 4 Board Composition – the right people 5 Vision and Strategy 6 Recognition and Management of Risk 6 Volunteer Training 6 Organisational Performance 7 Board Effectiveness 8 Integrity & Accountability 9 Organisation Building 9 Culture & Ethics 9 Engagement 10 Conclusion 10 Recommendations 11 Introduction The idea of Corporate Governance has been in existence since the days of the spice trade and monopolies of the trading companies that opened trade between Asia and Europe in the 1600s and beyond. The phrase became more popular...
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...Corporate governance Why study governance? -Failure of companies -Loneliness -Efficiency -Stakeholders 1. Definitions and Evolution of the cultural and legal environment * Way of sharing the power between management and shareholders. * Corporate governance is a set of legal, regulatory or practical provisions defining the scope of the power and responsibilities of those responsible for directing the company sustainably. Directing the company means taking and controlling the decisions that have a decisive effect on its soundness and sustainable performance. 3 types of shareholders: speculative, sleeping, active 2. The history of share ownership in continental Europe From 1850 to 1930 : 1/ Company : private sphere * Private property * Family shareholders * Middle age vocabulary 2/ Governance mode: Paternalism * Statistically and ideologically dominant * Scté en commandite par action * Authority legitimacy : Traditional society From 1930 to 1970 1/ Paternalism legitimacy erodes … * 4 constraints: * Demographic * Organisational * Financial * Political 2/ Governance of “experts” * The emergence of technocracy * Marginalization of shareholders * Anonymity * Technocracy self evaluation Since 1970 1/ Mutations and revolutions in the USA a- The increase of the need for financing * Diversification of pension funds * Huge increase pf the capital markets:...
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