Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
family business models
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: family business models
In this week’s reading, Chapter 4: Predictable Conflicts in the Intersections, discussed the dynamics of conflicts that exist within the family business as it relates to family, ownership, and management, which is also known as the three-circle model. This model derives from a breakdown of the two key elements of business, management and ownership. When the family is combined with business it is highly likely for paradoxes to stem from one of the three circles and the conflict becomes and paradoxes become more complex because the three circles are so closely connected and dependent upon each other. According to the reading, a problem, or a situation that reflects perplexity or difficulty is a result of underlying conflicts. The underlying conflicts are actual or perceived opposition of needs, principles, and/or interests. The contradictions are competing points of view, which births the paradoxes the business faces. (Schuman, A., Stutz, S., & Ward, J.L. 2012, p. 78)
The conflicts that stem from this model are separated into three categories by the authors which are family-management conflicts, family-owner conflicts, and management-owner conflicts. The family-management conflicts would include family employment, family member compensation and perks, retirement age, leadership succession, and family decision-making. (Schuman, A., Stutz, S., & Ward, J.L. 2012, p. 80) The management-ownership conflicts would include board make-up, distributions and dividends, risks and growth goals, family redemption or liquidity, and transparency of personal estate plans and financial stability. (Schuman, A., Stutz, S., & Ward, J.L. 2012, p. 83) The family –ownership conflicts would include stock ownership, family meeting agendas, owner succe...
... middle of paper ...
...g was very organized, detailed and easy to follow. The examples present in the charts for each of the three circles really paints the picture really clear for the reader. This chapter makes it very clear that paradoxes may have different origins and they need to be classified properly in order to adequately manage the paradoxes. The authors say it best, “ The most effective means of handling these problems is to analyze the conflicts associated with them for inherent contradictions, then to dig deeper, in search of the primary underlying paradox and ultimately to address the paradox with strong governance vehicles (such as policies, rules, or values), including the use of a family constitution.” (Schuman, A., Stutz, S., & Ward, J.L. 2012, p.90)
Reference:
Schuman, A., Stutz, S., & Ward, J. L. (2010). Family business as paradox. New York, NY: Palgrave MacMillan.
Analyzing the changes that took place in the family through the neoclassical and bargaining model of the family, it is safe to say that the American family is not what it once was.
Ingrid Connidis and Julia McMullin argue that ambivalence must be reconceptualized to help get a better understanding of family relationships. Connidis and McMullin’s main argument is that ambivalence is created by conflicts attached in sets of structured social relationships that clash with one's attempt to test individual's influence in relationships.
As a societal unit, the family institution has become more individualized and is negatively impacting societies future. From the 1930’s to now the family has disintegrated into more and more of a single person unit. A family in the 1930’s was envisioned to be a male-breadwinning father, a doting-homemaker wife, and several children. Yet understand while the Great Depression was rolling the family structure did not change. The husband went out and looked for work, while the wife stayed home and kept the children out of trouble.
A new pattern in family life emerges. Families now worked in factories and mills for people they did not know. Production was the key in the industrial society and family was a minor issue. Families were less closely bound together than in the past - the economic link was broken.... ...
The valued family structure has been the foundation for generations in history; however, the traditional American family is changing. The revolution has been influenced by the “choices people make and the constraints that limit those choices” (Benokraitis 21). The family structure is forever changing as a result of many dynamics including micro-level and macro-level influences. Fluctuations in the family unit are affected by these factors. These factors should be kept in perspective, stressing the individual choice while not neglecting the macro-level influences. Micro-level influences are personal situations such as a couple not saving money for an unplanned pregnancy. Macro-level influences are comprised of things such as economic forces,
The American family model traditionally included the mother and father with two kids, a boy and girl. In this 1950’s family model the husband is seen as the breadwinner while the mother is the homemaker. This model is exemplified in the Battleship advertisement where the father is resting from a hard day’s by work playing a board game with his son. At the same time the mother is doing the days dishes with some help drying from her daughter. Today however, these rigid stereotypical roles are no longer applicable to the members of the modern family. With increases in divorce rates and teen pregnancy combined with the shift in economic roles of the majority of families, the traditional nuclear family is a minority (Wetzel, 1990). The JCPenny
Throughout the play Death of a Salesman the main character, Willy Loman, struggles to find a medium between his family and career life. Such an occurrence is common throughout history, and one only needs to look at celebrities to see that such a statement is accurate as more often than naught, the pursuit of wealth and a tight family unit don’t often correlate well together. Perhaps this is a matter of balancing one’s personal life, and one’s career. Yet few have managed to succeed in maintaining both on equal level, as one is valued above the other. This may not be seen as a drastic problem, for most people, as they are happy with their income rates and family relationships, and thus doesn’t see a need to change to improve either one. Some might even argue that it’s the normal thing, and that the other side is not affected by the amount of time that they prioritize with either their family or work. In fact, most might say, that in focusing more on one aspect, be it their job or their family, the other simply balances out. However, this tends to be more noticeable in families that prioritize their relationships above their career, as they see their wealth as something that
PART I: This section of the book discussed neo-traditionalist divisions of labor and sharing solutions including ways in which different families are arranged. One family arrangement is the supermom and the neo-traditional dad. In this couple, the mother works full-time while taking on the second shift at home. Thus, these women struggle to manage their jobs and housework, spend more time multi-tasking with less leisure time, and often feel like they’re falling short in certain areas of life (as a mother, spouse, or employee). On the other hand, in this same arrangement the husbands are usually happy to help with the children and housework; however, they typically only help if they’re asked to do so, which may result in resentment from both
Although there is a plethora of possible sources of conflict in any workplace, the ones in this case are rather explicit. These include personal differences, Informal deficiencies’, role incompatibility, environment stress, perceptions, and expectations. Personal differences could be related to personal values, physiognomies, family bonds or ties, and material belongings.
Bryant, J., Claridge, M., Fursman, L., Jacobsen, V., & Jensen, B. (2004, March). Theories of the Family and Policy. Retrieved February 27, 2011, from New Zealand Treasury: http://www.treasury.govt.nz/publications/research-policy/wp/2004/04-02/11.htm#_toc4.1
Look up the word conflict in the dictionary and you will see several negative responses. Descriptions such as: to come into collision or disagreement; be at variance or in opposition; clash; to contend; do battle; controversy; quarrel; antagonism or opposition between interests or principles Random House (1975). With the negative reputation associated with this word, no wonder people tend to shy away when they start to enter into the area of conflict. D. Jordan (1996) suggests that there are two types of conflict: good, which is defined as cognitive conflict (C-type conflict) and, detrimental, defined as affective conflict (A-type conflict). The C-type conflict allows for creativity, to pull together a group of people with different opinions or ideas, to combine and brain storm all thoughts to develop the best solution for the problem. The A-type conflict is the negative form when you have animosity, hostility, un-resolveable differences, and egos to deal with. The list citing negative conflicts could go on forever. We will be investigating these types of conflicts, what managers can do to recognize conflict early, and what strategies they can use to resolve conflicts once they have advanced.
We each possess unique ideas, opinions, beliefs, and feelings about specific situations in life. This uniqueness is a large part of what makes us human. Because we all have our own individual way of looking at things, we each have a different viewpoint on what is proper or improper. With all that variation in society conflict is inevitable! Conflict is antagonistic in nature and we all must find ways to work through conflict issues both at work and at home. This paper describes different types of conflict, the influences I personally had in learning to deal with those conflicts, some of the conflicts that I commonly experience, how I go about dealing with those conflicts, and how conflict affects me on a personal level.
Ward, J. L. (2004). Perpetuating the family business: 50 lessons learned from long-lasting, successful families in business. Palgrave Macmillan.
In the end, I would like to conclude that, conflict is not necessarily always good or bad. It is only the consequences of the conflict that are good or bad. An effective management always identifies the conflicts with the bad consequences and brings them to an end as soon as possible and at the same time encourages healthy conflicts that give rise to good results.
Considering the conflict between Norm and Norma with reference to the circle of conflict, it is evident that the conflict arose due to external moods and values. The most contributing conflict driver was external moods. Norm had complaints from his wife due to him getting home late and not devoting his time to their marriage. It forced Norm to request his boss, Norma to make his work schedule flexible so as to enable him work from home at a time. Due to need of results by Norma she could not allow Norm to commute from home as she considered him one of her best performing staff hence needed his full input so as to achieve the newly initiated project (West Brooks Stevens, 2009).