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This research investigated the perceptions of family-owned small enterprises on the reasons of the absence of written succession plans, and the implications of the proposed successful succession framework. Quantitative research was used, and the study is descriptive and explanatory in nature. Family-owned small enterprises based in the Gauteng province of South Africa were the population of this study. The unit of analysis was thus the owners/founders and managers of the enterprises. A total of 257 valid questionnaires were returned from the sampled 384 family-owned small businesses, yielding a response rate of 66%. The results showed that family-owned small enterprises appreciate the importance of succession planning, however, they do not regard it as an urgent undertaking. They believe that succession planning is only about successor selection. The results also divulged that the lack of written succession plans is influenced by several reasons, namely, the entrepreneur never thought of succession planning, family members are not interested in taking over the business, the business is still small, and the children are still young. In response to the findings, the research proposes a successful succession planning framework and its implications to assist small family-owned enterprises to plan for succession. [ABSTRACT FROM AUTHOR]

This study aims to understand the crises experienced by family-owned accommodation businesses in small island contexts and how resilience is built alongside the development of their dynamic capabilities (sensing, seizing, and transforming) as they navigate through crises. The study uses a qualitative method and focuses on the experiences of tourism businesses operating in the islands of Boracay, Negros, and Siargao, which are among the top island destinations in the Philippines. Semi-structured interviews with 18 participants were conducted through 1-hour online video calls, phone calls, and written interviews. Crises that affect tourism businesses are mostly due to external factors. Small islands are at high risk of natural hazards, but businesses do not consider typhoons and earthquakes as crises per se since they frequently experience these hazards. Family businesses have distinct strategies, such as knowledge transfer, maintenance of stable financial resources, infrastructure development, employee training, better marketing strategies, and a focus on sustainability to enhance their dynamic capabilities and build their resilience, thus making them more adaptive to future crises. However, government support for the local tourism industry is still needed to ensure a sustainable tourism industry. Dynamic capabilities and resilience are often linked with each other yet there is limited knowledge on how resilience is built specifically in the context of family-owned businesses in small island context. This study addresses this gap in the literature by using dynamic capabilities as a framework to understand resilience development. Resilience and dynamic capabilities are then adaptive strategies in crisis management. [ABSTRACT FROM AUTHOR]

This research evaluated the implementation of a pairing guide in a family-owned business in the food industry. The study had a descriptive-exploratory nature, addressing issues qualitatively, ultimately resulting in a technical report. To identify the main challenge of the company, a situational diagnosis was conducted guided by the SWOT analysis. From this analysis, the manager considered the sales process as the item requiring the most intervention. The primary driver for this was the various issues related to the limited knowledge of both the saleswomen and the customers regarding the pairing of wines and cheeses sold at the establishment. In order to mitigate this issue, a guide for pairing the products with food options was developed. The evaluation of the implementation of this guide through opinion questionnaires yielded the following results: a) from the customers, it was found that the tool greatly assists in making clear, concise, and easy choices for wine and cheese; b) from the perspective of the employees, the sales process was simplified with a reduction in interventions by the company's sommelier; c) according to the manager, the idea was very well-received by everyone in the company, and there is an intention to expand the guide to other segments. [ABSTRACT FROM AUTHOR]

The levels of institutionalization have varied in organizations affecting their success and sustainability in business. The objective of this study is to develop a model for determining the level of institutionalization in which family-owned organizations operate the Level of Institutionalization for Organizations (LIFO) by a collaborative social research. This research contributes to the institutional theory by developing a model for an innovative approach to harmonize family and business at the institutional level with 68 variables derived from institutional theory. It also contributes to family businesses in maritime transportation as the LIFO model was used to determine the institutionalization level of shipowners in general as family-owned businesses. The model is based on the variables in both new and old institutional theory. A semi-constructed questionnaire was conducted among 64 out of a total of 244 of shipping companies registered within the country that operate globally. The data is collected through face to face interviews carried out with the heads of family-owned businesses. The data is used for qualitative content analysis. The results reveal the establishments of these organizations were set on firm bases in the pre-institutionalization level; there were fluctuations in doing business and differing attitutes among organizations in the same field in the semi-institutionalization level; there are bigger issues in the sustainability and insitutionalisation of family in the level of full-institutionalization.

Research background: SMEs encounter more survival impediments than larger businesses. Innovativeness is a crucial attribute for smaller firms to overcome these barriers since it positively influences their performance, competitiveness, and capability to operate in the long term. However, depending on firm characteristics, the innovativeness of SMEs might differ. Purpose of the article: This research investigates whether the innovativeness of family-owned SMEs differs depending on their size, sector, area of activity, and succession on the sample of 350 family-owned SMEs that operate in Czechia. Methods: The data collected in the Czech Republic in 2020 through the structured selfadministered questionnaire were analyzed using Skewness-Kurtosis and Levene's normality tests and Independent Sample T-test to find the differences in SMEs innovativeness depending on their selected characteristics. Findings & value added: According to the results, SMEs' innovativeness differs depending on their size, industry, and area activity. On the other hand, the analyses confirmed the nonexistence of the differences in SMEs' innovative-ness concerning succession involvement. The region of SMEs' operation, the scope of their activities, and firms' executives' age might be crucial arguments to explain the differences and similarities in these enterprises' innovativeness. Even though the research focuses only on the SMEs located in Czechia, the similarity of the issues all SMEs face when competing with the larger firms worldwide, especially if we take into consideration the countries with a similar level of development and overall institutional business conditions, allows for generalizing our results and might draw readers' attention to this paper. Policymakers, universities, international institutions, and financial institutions might cooperate to create industrial zones, encourage research centers, and provide education and financial support to stimulate SMEs' innovative activities. [ABSTRACT FROM AUTHOR]

The levels of institutionalization have varied in organizations affecting their success and sustainability in business. The objective of this study is to develop a model for determining the level of institutionalization in which family-owned organizations operate the Level of Institutionalization for Organizations (LIFO) by a collaborative social research. This research contributes to the institutional theory by developing a model for an innovative approach to harmonize family and business at the institutional level with 68 variables derived from institutional theory. It also contributes to family businesses in maritime transportation as the LIFO model was used to determine the institutionalization level of shipowners in general as family-owned businesses. The model is based on the variables in both new and old institutional theory. A semi-constructed questionnaire was conducted among 64 out of a total of 244 of shipping companies registered within the country that operate globally. The data is collected through face to face interviews carried out with the heads of family-owned businesses. The data is used for qualitative content analysis. The results reveal the establishments of these organizations were set on firm bases in the pre-institutionalization level; there were fluctuations in doing business and differing attitudes among organizations in the same field in the semi-institutionalization level; there are bigger issues in the sustainability and institutionalisation of family in the level of full-institutionalization. [ABSTRACT FROM AUTHOR]

Research background: Comparing to larger businesses, SMEs encounter more problems in their operations. Since innovativeness enables SMEs to be more competitive against their rivals, having more innovative activities might make SMEs overcome these issues. Nevertheless, depending on businesses-founders/owners' characteristics, SMEs' innovativeness in organizational, local, and global extents might differ. Purpose of the article: This research explores differences in family-owned SMEs' innovativeness regarding the age of their founders/entrepreneurs, legal form, and succession of these businesses. Methods: The researchers used a questionnaire survey. Data collection process was completed in 2020. The research sample includes 343 family-owned SMEs that operate in Czechia. The normality test result directs the authors to perform an Independent sample T-test to find differences between selected variables. Findings & value added: According to the obtained results, global innovativeness does not differ depending on firms-owners/entrepreneurs' characteristics. However, limited liability firms perform better in local innovativeness than other firms structured in different legal forms. Moreover, the organizational innovativeness of SMEs with successors is greater than firms without successors. While organizational innovativeness does not differ depending on entrepreneurs/founders' age and legal structure of businesses, local innovativeness does not differ depending on entrepreneurs/founders' age and successors' existence in these businesses. The educational level of entrepreneurs/founders, sector, and SMEs' location might be reasons for similarities and differences between SMEs' innovativeness. From the policy perspective, based on the obtained results, the authors suggest creating industrial zones. Furthermore, policymakers' collaborations with other essential players in the market might stimulate innovative attitudes among businesses. This paper's main contribution to the existing literature is to fill the gap regarding organizational, local, and global innovativeness of family-owned SMEs by providing detailed and empirical results about entrepreneurs' and firms' characteristics. Thus, this paper might draw businesses, policymakers, academicians, and international readers' attention concerning family-owned SMEs' innovativeness. [ABSTRACT FROM AUTHOR]

Corporate Social Responsibility (CSR) focuses on an organization's business practices that have an environmental, social, or human impact (Bowen, 1953; Kechiche & Soparnot, 2012). Although small and midsize businesses engage in CSR activities, the activities and approaches have been criticized for lacking structure and formalized management tools. Small business owners have access to a subset of resources to assist with their business ventures. In some instances, these small businesses acquire formal for-credit education from entrepreneurship major, minor, or specialization programs. Additionally, small businesses derive knowledge from non-credit programs such as those offered from the Small Business Development Centers, the Family Business Alliance (FBA), and university continuing education seminars. Self-study is another possibility as small business owners read or watch videos such as those available from the U.S. Small Business Administration. Last, small business owners receive one-on-one consulting from the Small Business Development Centers and from the nonprofit organization, Service Corps of Retired Executives (SCORE). These resources span topics on business plan development, legal structures, accounting, record keeping, marketing, selling, finance, website development, Search Engine Optimization (SEO), and e-commerce platforms. Within the types of resources mentioned, small business owners are still missing resources to assist them with creating structured CSR initiatives. Accordingly, this paper examines key themes within the top 100 Global CSR companies (based upon research and analysis from the Reputation Institute: strong leadership participation, synchronize brand and CSR, CSR evidence, internal and external CSR, as well as human and social CSR. The paper suggests how small business owners can translate such themes into a formalized planning process to create a CSR Plan. The paper prompts small businesses into creating CSR actions by posing 10 key planning questions. Based upon answering such questions, a sample CSR plan is developed for a small business diner which contains the CSR Leader's Statement as well as 20 CSR tasks for the diner. As a result of this paper, implications exist for those individuals supporting small businesses. For example, consultants assisting small businesses may decide to utilized the developed list of probing questions to encourage small businesses to participate in developing CSR plans. University professors may decide to incorporate the learning activity of a small business CSR plan as part of the entrepreneurship curriculum. Additionally, CSR plans may supplement business plans in small business pitches. Last, several ideas for the direction of future research are also included within this paper. Keywords: Small Businesses, Small and Midsized Enterprises (SMEs), entrepreneurs, Corporate Social Responsibility (CSR), Reputation Institute, entrepreneurship curriculum, INTRODUCTION The use of Corporate Social Responsibility (CSR) by small businesses (fewer than 500 employees) has resulted in numerous benefits such as increased number of customers, increased recruitment of millennials, [...]

This paper shows that in large U.S. companies, founder-CEO and founder-family controlled firms experience about 10 percent more underpricing relative to non-founder firms during the IPO process. This result holds after controlling for the ownership of founders and is consistent with the value-destroying behavior of founders. That is, founder-CEOs often consider their firms as their life's achievement and thus try to push their IPOs through by bargaining less aggressively with investment banks. Moreover, this paper shows that the partial adjustment phenomenon is weaker for firms that are controlled by founder-CEOs at the time of IPOs, supporting Loughran and Ritter's (2002) prospect theory (behavioral) explanation on this effect. Finally, large U.S. companies controlled by founders' descendants during the IPO process on average experience less underpricing, in contrast to founder-CEO firms. This opposite result on descendant-CEOs is also consistent with the theory that founder-CEOs try to push their IPOs through because they consider their firms as life's achievement. Keywords: founder-CEOs, family firms, IPOs, underpricing, partial adjustment JEL classification: G24, G32, G34, We are grateful to Brett Myers and lack Cooney for their help and encouragement on this project, and to Murali Jagannathan for sharing the private dataset. We thank an anonymous [...]

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Increasingly, children deemed to be at risk of harm are being placed in kin care, most often with grandparents. Factors triggering the removal of children from their parents can include family breakdown, child neglect, substance misuse, poverty and family violence. Equally, these factors can result in children becoming disconnected from extended family. A prevailing concern in Australia is the over-representation of Aboriginal children in child protection services, and disrupted connections to their family and culture. The primary aim of a recent qualitative study was to optimise grandparent-grandchild connectedness after child safety concerns. Interviews and focus groups were conducted with a total of 77 participants. Grandparents were the primary sample recruited, however smaller numbers of workers, parents and foster carers contributed to the study. Discussed here are themes emerging from the qualitative data that pointed to grandparents being at greater risk of intrafamilial violence than previously may have been recognised after they step in to care for grandchildren. Recommendations from this study include a call for increased culturally and historically-informed practice approaches that take account of the interconnected nature of violence in families., Author(s): Susan Gair [sup.1] , Ines Zuchowski [sup.1] , Rosamund Thorpe [sup.2] , Debbie Henderson [sup.3] , Lyn Munns [sup.1] Author Affiliations: (Aff1) 0000 0004 0474 1797, grid.1011.1, James Cook [...]

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