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Abstract

Abstract

Family businesses are considered important drivers of economic growth process since they are credited for nurturing across generations entrepreneurial talent, a sense of loyalty to business success, long-term strategic commitment, and corporate independence. Family firms are often praised for their ability to nurture a sense of loyalty, long-term strategic vision and commitment, and pride in family tradition. Family can foster high ethical standards, positive commercial values, and a sense of responsibility, which can contribute to the transfer of entrepreneurial skills from one generation to the next. Other advantages include concern and respect for individuals, and operational flexibility, particularly in terms of ad hoc business solutions, human resource management, and reward systems. Although in literature many studies can be found that focuses on family businesses, none of the study was conducted in Qatar. Using questionnaire based methodology, this study explored the issues like next generation development activities and processes to produce successful leaders, hiring and retaining professional non-family executives, and community, philanthropic and charitable activities; building social goodwill. Some of the results of this study are very different from other such studies conducted in western countries. One such difference is that in western countries after second generation most of these businesses are either sold or only few of the family members run the business, while in Qatar family businesses are continuing well into third or even four generations with most of the family members remaining active in day to day operations of the business. As there is quite a number of family businesses operating in Qatar the study brought forth some of the issues that are important from the point of view of managing family businesses.

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/content/papers/10.5339/qfarf.2011.AHP11
2011-11-20
2020-11-24
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http://instance.metastore.ingenta.com/content/papers/10.5339/qfarf.2011.AHP11
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