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Article
Publication date: 7 October 2014

Lorna Collins, Ken McCracken, Barbara Murray and Martin Stepek

This paper is the first in a regular series of articles in JFBM that will share “a conversation with” thought leaders who are active in the family business space. The…

Abstract

Purpose

This paper is the first in a regular series of articles in JFBM that will share “a conversation with” thought leaders who are active in the family business space. The world of family business is, like many other arenas, constantly evolving and as the authors learn more about how and why families “do business” the approaches and tools for working with them also evolve. The purpose of this paper is to stimulate further new research in areas that practically affect family businesses and to “open the door” to practical insights that will excite researchers and provide impetus for new and exciting study. The specific purpose of this paper is to explore “what is strong governance.” There has been much interest in governance lately yet there is a tendency to treat governance in a formulaic way such that, at the moment, the notion that every family business must have a family council or a formal structure in order to be considered “effective” and “successful” predominates. The authors’ panel challenges and discusses this notion drawing on the experience and knowledge as family business advisors, consultants and owners.

Design/methodology/approach

The impetus for this particular conversation is a result of a brainstorming conversation that Lorna Collins and Barbara Murray held in February 2014 where they focussed on “how JFBM can encourage and stimulate researchers to engage in aspects of research that makes a difference to the family business in a practical way.” This paper reports a conversation between Barbara Murray (Barbara), Ken McCracken (Ken) and Martin Stepek (Martin), three leading lights in the UK family business advising space, all of whom have been involved in running or advising family businesses for more than three decades, held in August 2015. The conversation was held via telephone and lasted just over 60 minutes. Lorna Collins acted as moderator.

Findings

Strong governance is not just about instituting a “family council” or embedding formal governance mechanisms in a family business. Evolutionary adaption by family members usually prevails such that any mechanism is changed and adapted over time to suit and fit the needs of the family business. Many successful family businesses do not have recognized “formal” governance mechanisms but, it is contended, they are still highly successful and effective. Future areas of research in governance are also suggested.

Originality/value

This paper contributes to the family business discourse because the debate it reports challenges the basic assumptions upon which much consulting and advisory practice is conducted. It also challenges the notion of “best practice” and what is “new best practice” and how is it that any “best practice” is determined to be “best.” Furthermore, the panel provides insights in to the “impact of family dynamics on governance” and “the impact of family dynamics on advisors.” The paper content is original in that it provides an authentic and timely narrative between active family business practitioners who are also scholars and owners.

Details

Journal of Family Business Management, vol. 4 no. 2
Type: Research Article
ISSN: 2043-6238

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Article
Publication date: 13 April 2015

Lorna Collins, Barbara Murray and Ken McCracken

This paper is a conversation piece which highlights the ways in which succession planning in large company might be handled. The discussion focuses on Christopher Oughtred…

Abstract

Purpose

This paper is a conversation piece which highlights the ways in which succession planning in large company might be handled. The discussion focuses on Christopher Oughtred the former Chairman of William Jackson Food Group, one of the largest family businesses in the UK. The paper aims to discuss these issues.

Design/methodology/approach

This paper presents a conversation with a panel of leading family business experts and a family business owner. The paper presents latest thoughts on family business research, insights into a real family business succession project and reflections from a former Chairman on the succession process.

Findings

Findings highlight possible stages and requirements of a successful transition and succession plan. Also suggestions for areas of further research are presented.

Originality/value

The conversation recorded in this paper represents a rare opportunity to obtain reflections and insights on a succession process and how it was managed in a large family business. The conversation also highlights the kinds of challenges often experienced by family businesses during transition and succession. As a case study this is an exemplar of how succession might be planned.

Details

Journal of Family Business Management, vol. 5 no. 1
Type: Research Article
ISSN: 2043-6238

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Article
Publication date: 12 October 2015

Ken McCracken

The purpose of this paper is to consider, from a practitioner’s perspective, two phrases that are often used in the family enterprise field; “best practice” and “trusted…

Abstract

Purpose

The purpose of this paper is to consider, from a practitioner’s perspective, two phrases that are often used in the family enterprise field; “best practice” and “trusted adviser”. They are sometimes found together, a trusted adviser being one who has a meaningful relationship with a family and can offer advice based on best practice. The alternative view offered here is that the notion of best practice is flawed, while trust has much more to it than building personal relationships between and adviser and an enterprising family.

Design/methodology/approach

This paper is a commentary piece from a practitioner with experience of working with enterprising families in different parts of the world.

Findings

This commentary paper challenges the notion that there are best practices in family business governance. It suggests that these are being used to bolster a normative approach to advising that emphasises the importance of certain structures and practices in place of effective governance that is developed by enterprising families to suit their needs. It also tries to expand the debate about the so-called trusted adviser by reviewing aspects of trust that have little to do directly with the quality of personal relationship between a family and their adviser.

Originality/value

This paper provides an informed practitioner view of issues that are currently being debated in the field of family enterprise knowledge and practice. It will be useful for enterprising families, family business practitioners, academics and researchers.

Details

Journal of Family Business Management, vol. 5 no. 2
Type: Research Article
ISSN: 2043-6238

Keywords

Content available
Article
Publication date: 7 October 2014

Lorna Collins

Abstract

Details

Journal of Family Business Management, vol. 4 no. 2
Type: Research Article
ISSN: 2043-6238

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Article
Publication date: 1 February 2000

Shane S Dikolli

Prior work has focused on the impact of using alternative bases for allocating costs to products but there has been little work that evaluates the use of alternative…

Abstract

Prior work has focused on the impact of using alternative bases for allocating costs to products but there has been little work that evaluates the use of alternative allocation bases for allocating costs to departments. In particular, if different departments of a multi‐national firm are located in settings with different reporting requirements, exchange rate risks, and costs of capital, then the choice of cost allocation base can be important. This paper examines the economic impact of alternative service department allocation bases in a decentralised setting. A non‐linear programming (NLP) approach is used to model the problem. A review of prior literature identifies a method, based on the NLP approach, for determining the economic impact of alternative allocation bases in a multi‐product setting. The method is adapted in this paper for the multi‐divisional context. The study finds that centralised production volume decision‐making is superior to decentralised decision‐making using either revenue or volume‐based cost allocation bases. Under certain conditions, revenue‐based allocation bases are also found to be superior to volume bases. Under the assumptions of the model no distinction can be made between the centralised solution and a profit‐based allocation regime. A practical implication of this study is that designers of cost allocation systems need to consider not only the direct income‐shifting effect of different cost allocation bases but also the indirect economic effect of consequential changes in the operating decisions of the firm.

Details

Asian Review of Accounting, vol. 8 no. 2
Type: Research Article
ISSN: 1321-7348

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Article
Publication date: 10 June 2019

Jin Woo Lee and Soo Hee Lee

The purpose of this paper is to examine the impact of digital platforms on the contemporary visual art market. Drawing on the theoretical insights of the technology…

Abstract

Purpose

The purpose of this paper is to examine the impact of digital platforms on the contemporary visual art market. Drawing on the theoretical insights of the technology acceptance model, the meaning transfer model and arts marketing literature, the authors conceptualise the role of user participation in creating the meaning and value of contemporary artworks in the online art market.

Design/methodology/approach

The authors conduct a qualitative study of Saatchi Art as an instrumental case for theorising. It is an online platform for trading visual artworks created by young and emerging artists. The data for this study were collected through direct observation and documentary reviews, as well as user comments and buyer reviews from Saatchi Art. The authors reviewed 319 buyer comments Art and 30 user comments. The collected data are supplemented with various secondary sources such as newspapers, magazines, social media texts and videos.

Findings

The growth of digital art platforms such as Saatchi Art provides efficiency and accessibility of information to users while helping them overcome the impediments of physical galleries such as geographical constraints and intimidating psychological environments, thereby attracting novice collectors. However, users’ involvement in the process of valuing artworks is limited and still guided by curatorial direction.

Research limitations/implications

The first limitation of this research is that the data in this research cannot capture interactions between users, though users’ intention to use Saatchi Art is affected by the social influence of other users. Second, this research has not examined artists as users of digital art platforms and their interactions with other types of users. Artists’ intention to use the online platform might be underlined by enhancing their status in the peer group or seeking legitimacy in the field by following other artists and getting recommendations from important referents.

Practical implications

The outcomes of this research suggest that newcomers in the online art market should acknowledge that users’ intention to use the online art platform is determined by not only technological usefulness of the website but also the symbolic capital of the information provider.

Originality/value

User participation in the online art market is guided by curatorial direction rather than social influence. This confirms re-intermediation of marketing relationships, highlighting the role of new intermediaries such as digital platforms in arts marketing.

Details

European Journal of Marketing, vol. 53 no. 6
Type: Research Article
ISSN: 0309-0566

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Book part
Publication date: 11 August 2014

Kira Strandby and Søren Askegaard

This chapter builds on Georges Bataille’s analysis of waste as a constitutive element of social life. We argue that two separate but intertwined dimensions included in the…

Abstract

Purpose

This chapter builds on Georges Bataille’s analysis of waste as a constitutive element of social life. We argue that two separate but intertwined dimensions included in the idea of waste, waste as sacrifice and waste as competition, can enhance our understanding of the role of the lavish wedding in contemporary consumer society. We suggest four categories of waste as constitutive of the meanings of the wedding universe: pure waste, lavish waste, simulated waste and anti-waste.

Methodology

We use a combination of netnography and long interviews to explore notions of waste in Danish weddings. The netnography was conducted in a Danish wedding forum, where informants for the long interviews were also recruited among the members.

Findings

We find that the four dimensions of waste suggested in our theorization are indeed found in the way consumers plan and enact their weddings. In particular, the notion of sacrificial expenditure – what we call “pure waste” in our context – is indeed present in contemporary weddings.

Research limitations/implications

This research is undertaken in a Danish context, which represents a particular historical and cultural framing of the wedding ceremony and its types of expenditure. We encourage research in other cultural contexts to elaborate on our findings.

Originality/value of chapter

Without denying the fundamental symbolic character of consumption activities, we argue that, more generally, a Bataillean perspective on consumption and waste can further our understanding of the limits of the symbolic character in consumer research, since it underlines the more corporeal experience of certain consumption rituals.

Details

Consumer Culture Theory
Type: Book
ISBN: 978-1-78190-811-2

Keywords

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Article
Publication date: 1 October 1911

Dr. F. J. H. COUTTS'S report to the Local Government Board on an inquiry as to condensed milks, with special reference to their use as infants' foods, has been issued as…

Abstract

Dr. F. J. H. COUTTS'S report to the Local Government Board on an inquiry as to condensed milks, with special reference to their use as infants' foods, has been issued as No 56 of the new series of reports on public health and medical subjects.

Details

British Food Journal, vol. 13 no. 10
Type: Research Article
ISSN: 0007-070X

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Book part
Publication date: 12 June 2015

Denise A. D. Bedford, Jennifer K. Donley and Nancy Lensenmayer

The transformation from an industrial to a knowledge economy and society are underway. In the knowledge economy, the knowledge of people and organizations—their…

Abstract

The transformation from an industrial to a knowledge economy and society are underway. In the knowledge economy, the knowledge of people and organizations—their intellectual capital assets—are the primary factors of production and the source of wealth. This is in contrast to other kinds of capital that fueled the industrial and the agricultural economies. Librarians have understood the knowledge society as one characterized by an increased focus on digital resources and an expanded use of virtual channels to deliver those resources. However, the nature of the knowledge society and economy is far more expansive than a digital environment. A knowledge society is one in which all members of a society engage in knowledge transactions—in the business environment, in the social sphere, in civic activities, and in everyday environmental actions. This view of the knowledge society presents new opportunities for librarians to leverage their intellectual capital. This chapter profiles the intellectual capital assets of librarians, considers how they align with professional competencies, and presents use cases that illustrate the value of these assets. Future scenarios illustrate how traditional functional competencies might shift in the knowledge economy. These also suggest contexts which highlight undervalued or new competencies. Seven observations describe how librarians might prepare for expanded roles in the knowledge society.

Details

Current Issues in Libraries, Information Science and Related Fields
Type: Book
ISBN: 978-1-78441-637-9

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Book part
Publication date: 25 July 2017

Arch G. Woodside

Consumer behavior in tourism (CBT) is an interdisciplinary field of study encompassing the basic behavioral and economic sciences (e.g., psychology, sociology, and…

Abstract

Consumer behavior in tourism (CBT) is an interdisciplinary field of study encompassing the basic behavioral and economic sciences (e.g., psychology, sociology, and economics) and applied fields of study (e.g., management, marketing, tourism, and hospitality) focusing on all aspects of discretionary travel. This chapter describes major issues and findings in the literature relating to CBT. The chapter directs the reader’s attention to some of the highly-cited studies in this literature – these studies provide a foundation of knowledge on the central topics, issues, methods, findings, and theoretical/practical contributions in research on CBT. Research studies in CBT focus on one-to-all five core theoretical issues in basic and applied fields of study: describe who is doing what, when, where, how, and the consequences of the activities; explain the meanings of activities and motivations of the actors; predict (model) what actions and outcomes will occur and the impacts of influence attempts before, during, and after engaging in tourist actions; control (influence) the beliefs, attitudes, behaviors, and assessments of tourists, local community members, and additional stakeholders; evaluate tourism service/product delivery, tourism management performance, and customer satisfaction. Survey research using verbal (written) responses to questions is pervasive and the most frequent method for data collection in CBT. Additional research genres in CBT include direct observations of tourism behavior with or without some oral questioning (unobtrusive studies, the long interview method (McCracken, 1988), use of “consumer culture theory”), participant observation including semester abroad and unpaid internships away from home, formal field experiments, and the study of secondary sources (e.g., photographs and writings in blogs and social media (e.g., TripAdvisor) reviews).

Details

Consumer Behavior in Tourism and Hospitality Research
Type: Book
ISBN: 978-1-78714-690-7

Keywords

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