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Africa is a vast, immensely diverse continent with hundreds of local languages, traditions, values, and cultures that shape the lives of its people. The vast resources available on the continent present numerous opportunities for economic development and prosperity. The preceding chapters in this volume have explored many of these resources, highlighting the importance of indigenous knowledge in driving sustainable business structures across Africa. This chapter concludes with practical recommendations for implementing and sustaining indigenous knowledge on the continent and building a more equitable and sustainable future for Africa. We anticipate that these observations and recommendations will aid African researchers, government and non-governmental organisations, educators, business actors and leaders, legislators, and the general public in thinking globally but acting locally to advance indigenous knowledge in Africa.

There are notable indigenous business models in the African context that have either been unexplored or are yet to be highlighted and given due attention at the international level. This chapter provides a cross-case analysis of the indigenous business practices of three ethnic groups across West Africa: Nigeria (Igbos), Ghana (Ewes) and the Benin Republic (Guns), thus viewing business models, from anglophone and francophone perspectives. Specifically, the chapter discusses the apprenticeship models igba-boi, of the Igbo society, dorsorsror, among the Ewes, and eyi alo within the Guns society and succession models in the three societies ‘Inochi anya, domenyinyi and eyi kanta’ respectively, with the aim of highlighting insights for practice, policy and academia. Historically, there have been relevant structures to ensure the transfer of knowledge and wealth to the next generation; this is driven by both cultural and traditional systems of the ethnic groups. The findings show that the family unit plays a significant role in building a sustainable channel, though informal, through which the heritage of business models is attained. To this end, the authors recommend leveraging the unique models of apprenticeship and business succession practised in these ethnic groups to support current policies, such as those relating to Technical and Vocational Education and Training (TVET).

Prior family business research has been dominated by an agency theory perspective, narrow definitions of what constitutes family wealth, and a preoccupation with business governance mechanisms to the exclusion of family governance mechanisms. This chapter presents the findings of examining the role of a broader range of governance mechanisms (for the business; for the family) in achieving more comprehensive wealth (economic and non-economic) family business goals in the Australian context. Based on survey responses from around 400 family businesses, the findings from this study show that both family and business governance mechanisms contribute significantly to achieving both the business’s financial performance and the achievement of family-centered goals that are important to the owning family. The results also suggest that the relationship between governance and performance in the family business context is much more complex than that acknowledged in prior research and has implications for both future research and practice.

The chapter deals with the interface between the law of succession and corporate law and explains the completely different objects of these two fields of law. Succession law tries to shift and contribute assets to the successors, whereas corporate law focuses on the well-being of the company. However, in a family business, it is necessary to find legal, social, and psychological techniques to combine these two areas and to establish strong and binding relations. This is the function of shareholder agreements and family constitutions.

This chapter documents business ethics and value orientation of the Igbo business model of southeastern Nigeria. The case study method was employed with two purposively selected Igbo enterprises based in Lagos, Nigeria, to provide insights into the model. The chapter reveals that business ethics and values constitute key components of indigenous business success and survival. The identified business ethics and values include diligence, trust, prudence, unity, honesty, integrity, cordial relationships with customers and suppliers, perseverance and patience. Furthermore, the Igbo apprenticeship system facilitates the transfer of business knowledge, practices and principles from one generation to another. Notably, one of the cases focuses on a female-owned enterprise, emphasizing that the issues raised are applicable to both genders. The chapter concludes with recommendations for business actors in Africa.

This chapter presents the current research status of family constitutions from an economics perspective. It locates the family constitution as part of the family and business governance structure of a family firm and the owner family. The typical structure and content of a family constitution are introduced. The chapter focuses on the status of research about family constitutions and provides a structured map for future research. With regard to extant research, it must be stated that the stock of literature is small. The contributions to literature are categorized in surveys; conceptual contributions; survey data; small sample, qualitative, empirical studies; and big sample, quantitative, empirical studies. The latter group includes three studies with a separate family constitution variable. This small number symbolizes that the family constitution still is an under-researched area. Therefore, family constitution research is far away from being able to answer central questions of advice-seeking owner families like, for example, whether a family constitution affects family performance, firm performance, or both; or whether the development process of a family constitutions disposes of an effect on family or firm performance separately from the hypothesized effect of the family constitution document.

This chapter provides an introduction to the world of family companies and family constitutions from a legal perspective. It first studies the legal types of business organizations that family firms have chosen across time and jurisdictions. It then illustrates how early predecessors of family constitutions evolved in the late Middle Ages and what modern family constitutions look like in different countries today. Further considerations are devoted to the governance framework of family firms. The chapter concludes by exploring the potential legal effects of family constitutions under German company and contract law.

In the quest for better construction workforce management, this chapter explored the background of workforce management and related theories, models, and practices. Through a review, the chapter provided meaning to the concept of construction and workforce management. The chapter concluded that while the construction industry worldwide is important to the economic growth of the countries where it operates, the industry’s management of its workforce is challenged by several problems. These problems include the nature of the industry, skill shortage, unhealthy working environment, and poor image of the industry, among others. Also, while the construction industry is rich in diversity, this has been a major source of problems for workforce management. The chapter further revealed that to improve workforce management and attain better-performing construction organisations, careful recruitment, effective training, providing a safe working environment, putting policies to promote diversity, and ensuring innovativeness, among others, are essential.