TY  - JOUR
AB  - Purpose The purpose of this paper is to, first, investigate the differences between generations in family businesses and, second, develop and verify the Family Business Success Model ability to improve the probability of business success measured by perceived profits, growth and meeting the owners’ expectations.Design/methodology/approach Data were collected through questionnaires and personal interviews. Overall, 98 usable questionnaires were collected for statistical analysis with a response rate of 82 percent.Findings One-way ANOVA hypotheses testing of the variables found four significant differences between generations. Regression analysis found the Family Business Success Model to be significant. Family business owners can improve the probability of success by utilizing a team-management decision-making approach, effectively handling conflict effectively, formulating specific succession plans, developing strategic plans, using sophisticated financial management methods, dealing effectively with the founder’s influence and if they seek to grow, they should consider going public.Practical implications This study provides family business owners, managers, educators and public policy makers with the means to help family businesses survive and grow effectively throughout generations by using the Family Business Success Model. In addition, this study can help consultants and advisors of family businesses to understand the differences between the first, second and third generation family businesses from a holistic perspective and help them implement the family business model.Originality/value This study contributes to the literature as one of the few studies in the Lebanese emerging market that examines how the first, second and third generations of family businesses differ. More importantly, it develops a Family Business Success Model that improves the probability of success.
VL  - 32
IS  - 1
SN  - 0953-4814
DO  - 10.1108/JOCM-01-2018-0030
UR  - https://doi.org/10.1108/JOCM-01-2018-0030
AU  - Sreih Josiane Fahed
AU  - Lussier Robert N.
AU  - Sonfield Matthew C.
PY  - 2019
Y1  - 2019/01/01
TI  - Differences in management styles, levels of profitability, and performance across generations, and the development of the Family Business Success Model
T2  - Journal of Organizational Change Management
PB  - Emerald Publishing Limited
SP  - 32
EP  - 50
Y2  - 2024/05/12
ER  -