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The primary aim is to renew academic discourse on financial education in business families. It emphasizes the need for effective financial literacy programs to foster a healthier relationship with money, addressing both technical aspects of finance and its psychological and relational impacts among family members.

This perspective article explores the impact of money education within business families. It discusses the psychological effects of money education on family dynamics and decision-making in family businesses. The research draws on previous studies, surveys and practical examples to highlight the importance of financial education and its implications on family and business sustainability.

Financial education is essential in business families as it enables more meaningful discussions on money and wealth, fostering informed decisions and decreasing conflict. Yet, it is often overlooked. There is a need for academic research into effective strategies for financial education for family members and the effects of financial literacy, or its absence, on various aspects of the business and the family system. The article presents a selection of pertinent questions for future research in this domain.

This article contributes to the family business field by underscoring the gap in scholarly research on money education within family businesses. It advocates for comprehensive financial education strategies that balance technical knowledge with an understanding of the psychological and relational aspects of money.

Purpose: The purpose of the work is to specify the concept of business system, which allows overcoming the multitude of its treatments and contradiction of scientific research, devoted to its research and allows building the conclusions into the economic theory.

Methodology: A generalized notion of business as a clearly organized corporate economic subject that conducts entrepreneurial activities for the purpose of obtaining income (profit) is offered. For studying it, the methodology of the systemic approach is used.

Conclusions: The specified concept of business system allowed unifying within the common scientific category the existing concepts of economic subject (organizations, companies, corporations, and business structures).

Originality/value: Advantages of the offered concept of business system is systemic character (category “business system” could be used during research in the sphere of management, economics, and law), universal character (the offered concept allowed reflecting internal and external environment of the business system, which allows conducting microeconomic and macroeconomic research on its basis), and clarity (the offered concept reflects the essence of notions of business and illustrated them). The offered conceptual model of modern business system is to be a foundation for theoretical and empirical research, including interdisciplinary.

This chapter reports the results of an empirical study on the “gender–performance gap,” the alleged difference in business performance between firms started or owned by females and males. Although numerous studies have compared the business performance of firms started by or owned by female and male entrepreneurs, most research to date has employed financial performance metrics and has often produced inconsistent results. The present research compared gender-based business performance by examining self-perceptions of a large sample of female and male Black and Mexican-American entrepreneurs. As such, the present study overcame several limitations of prior gender–performance gap research and addressed entrepreneurial groups seldom studied. While there were no perceptual differences between female and male entrepreneurs surveyed regarding the performance of their respective businesses, Mexican-American entrepreneurs surveyed perceived the performance of their business as being better than Black entrepreneurs surveyed, and this result held for both females and males. Findings from the study provide insights into the perceptions held by Black and Mexican-American female and male entrepreneurs and provide a context for further race and gender studies.

Purpose: The purpose of the work is to study the approaches to classification of modern business systems from business managers through the prism of making of managerial decisions.

Methodology: The methods of classification, comparative and systemic analysis, induction, deduction, and formalization are used.

Conclusions: As a result of the research, five conceptual approaches to classification of modern business systems are distinguished: organization-oriented, externally-oriented, management-oriented, socially-oriented, and innovations-oriented. Within each of them, various (mutually supplementing) criteria of classification are used, which allow distinguishing a lot of types of modern business systems. In the conditions of the Fourth Industrial Revolution, which includes transition to Industry 4.0, a new classification of modern business systems according to the criteria of their technological mode is offered, and the systems of the mode 3.0 and 4.0 are distinguished. Transition to the new technological mode is connected to additional business risks, which complicates the process of making of managerial decisions.

Originality/value: The performed analysis of classification of modern business systems from business managers showed that all peculiarities of these systems influence the process of making of managerial decisions in them, including the sectorial structure of business environment, size of business systems, sphere in which business systems function, involvement in business environment, internal and external integration of business systems, scale and complexity of business environment, organizational and legal form, business structure and business culture of business systems, types of benefits that they sell, level of legitimacy, responsibility, innovational activity, and technological mode of business systems.

Patrick Primeaux's life was one of exemplary service in a wide range of fields. The Marists can point to years of productive service in their order. Generations of students know the impact he had on their lives. The St. John's University community can testify regarding his contributions to their institution, and organizational ethics researchers can point to his influence on research and pedagogy.

Many academics have careers with achievements in research, teaching, and service. What made Father Primeaux truly remarkable, however, was that he also expanded the business ethics field itself. Business ethics has traditionally been a difficult area in which to establish a research niche. Pat's contributions to research and pedagogy, and particularly his efforts regarding the Vincentian Ethics Conferences opened doors for young business ethicists, which was enormously beneficial to those academics and increased the quality and quantity of business ethics research.

This chapter examines Patrick Premeaux's groundbreaking contributions to business ethics teaching and research, and to demonstrate the impact those contributions have had on his fellow academicians. The first section outlines the significance of Primeaux's efforts. The second section examines Pat's contributions to business ethics research and education. The third section discusses the role the Vincentian Ethics Conferences (VEC) have played in improving the quantity and quality of business ethics research, while the fourth section illustrates the impact Pat's efforts had on my own career. The fifth section summarizes and concludes the paper.

Purpose: The purpose of the work is to study the essence and to determine the algorithm and methodology of decision making as a choice of the existing alternatives according to the scientific approach to this process of management of modern business systems.

Methodology: The research is conducted with the help of the method of process analysis, which allows determining the stages of the process of decision making in modern business systems and determining its algorithm; the method of formalization, which allows presenting the obtained algorithm; and the method of comparative analysis, which allows comparing the existing methods of decision making as a choice of the existing alternatives.

Conclusions: As a result of generalization and systematization of the existing scientific knowledge in the sphere of managerial decisions in modern business systems and reconsideration (logical analysis) of this process, its algorithm is compiled. Four stages of the algorithm of making of managerial decisions in modern business systems are distinguished – determining the needs of business system for managerial decisions, determining the possibilities of business system in making of managerial decisions, compiling alternative variants of managerial decisions, and implementation of the made managerial decision and further evaluation of its optimality. Also, methodological tools of each stage are determined.

Originality/value: The developed algorithm possesses the following advantages as compared to the existing scientific descriptions of this process: completeness, complex solution of the problems of the business system through managerial decisions, connection of the methodology of managerial decisions to each stage of the algorithm, and systemic character of the methodology of decision making as a choice of the existing alternatives.

Internet + and Electronic Business in China is a comprehensive resource that provides insight and analysis into E-commerce in China and how it has revolutionized and continues to revolutionize business and society. Split into four distinct sections, the book first lays out the theoretical foundations and fundamental concepts of E-Business before moving on to look at internet+ innovation models and their applications in different industries such as agriculture, finance and commerce. The book then provides a comprehensive analysis of E-business platforms and their applications in China before finishing with four comprehensive case studies of major E-business projects, providing readers with successful examples of implementing E-Business entrepreneurship projects.

Internet + and Electronic Business in China is a comprehensive resource that provides insights and analysis into how E-commerce has revolutionized and continues to revolutionize business and society in China.

Purpose: The purpose of the chapter is to determine the connection between organizational culture and specifics of the process of decision making in modern business systems and to determine the directions of managing the organizational culture depending on the set criteria of decision making.

Methodology: A proprietary classification of the types of organizational culture of modern business systems according to the criterion of employees' involvement into decision making is offered. This classification uses two dimensions of employees' involvement into decision making for classification of the types of organizational culture of modern business systems. First dimension: interest of business manager in involvement of employees into the process of decision making. Second dimension: employees' inclination for participation in the process of making of managerial decisions. The factors that influence these dimensions are determined.

Conclusions: Connection between organizational culture and specifics of decision making in modern business systems according to the criterion of employees' involvement in decision making is determined. The minimal level of involvement envisages independent decision making by business manager without participation of employees. In this case, a lot of problems of the business system remain unsolved and possibilities remain unused. Resource intensity of decision making is the highest, and their practical implementation is complicated by employees' dissatisfaction, but this process is conducted very quickly. The medium level of involvement envisages either collective discussion, but decision making by business manager, or collection of feedback by business manager with low interest in it from employees. In this case, resource intensity of decision making is lower, and decisions could be made and implemented faster. The highest level of involvement is connected to collective decision making by employees and business manager. This allows determining problems and using possibilities of the business system with minimal resources. Though the duration of the process of decision making is the highest, solutions are implemented quickly due to employees' support.

Originality/value: The determined specifics show the necessity for considering the influence of the organizational culture on specifics of the process of decision making in modern business systems. It is substantiated that no type of organizational culture of modern business systems according to the criterion of employees' involvement in decision making can provide a guarantee of decisions' optimality. The directions of managing the organizational culture depending on the set criteria (completeness, speed, resource intensity) of decision making are recommended.

Purpose: The purpose of the work is to determine the possibilities and consequences of decision making in modern business systems by the principles of outsource.

Methodology: During studying the perspectives of decision making in modern business systems by the principles of outsource, the method of logical analysis (analysis of causal connections), the method of structural and functional analysis, and the method of formalization are used.

Conclusions: Perspective directions, advantages, and drawbacks of application of outsource for decision making in modern business systems at different stages of this process are determined. Possible variants of decision making in a modern business system by the principles of outsource and their consequences are determined: information and consultation decision support, business system's overcoming a crisis, optimization of certain business processes, and loss of independence of business system and path to its reorganization.

Originality/value: As a result, it is substantiated that outsource is a perspective tool of making of managerial decisions in modern business systems. Various directions of application of this tool are accessible at each stage of the process of making of managerial decisions in a modern business system. The advantages of decision making by the principles of outsource are attraction of additional resources, access to possibilities of automatization, and low expenses, and the drawbacks include the complexity of organization of this process and temporary character of obtained advantages. Too active usage of outsource and transfer of most managerial decisions to it may lead to loss of independence of the business system and increase of the risk of its reorganization. That's why the principles of outsource are recommended for making of certain managerial decisions by business systems in the period of crisis and by newly formed business systems and those that experience deficit of resources.