Leenders and Waarts (2003) have made a distinction between a company’s family orientation and business orientation. These two dimensions are used to develop a space of family businesses which include 'Houses of Business', 'Family Money Machine', 'Family Life Traditions', and 'Hobby Salons'. The figure at below shows the family business space. Houses of Business include companies that have high business orientation compared to family orientation. Management and ownership in these companies are separated. Family Money Machine include companies with strong family as well as business orientation. Business value creation and family togetherness are important for these companies. Family Life Traditions covers the companies that the family’s needs and aspirations get priority over business objectives and finally, families running their businesses to earn a living, to meet their expenses, or keep themselves busy fall in the category of Hobby Salon. Find out at least one family business for each of the four categories and then write an essay talking in detail about the reasons for why the companies you chose fall into those categories
Leenders and Waarts (2003) have made a distinction between a company’s family orientation and business orientation. These two dimensions are used to develop a space of family businesses which include 'Houses of Business', 'Family Money Machine', 'Family Life Traditions', and 'Hobby Salons'. The figure at below shows the family business space. Houses of Business include companies that have high business orientation compared to family orientation. Management and ownership in these companies are separated. Family Money Machine include companies with strong family as well as business orientation. Business value creation and family togetherness are important for these companies. Family Life Traditions covers the companies that the family’s needs and aspirations get priority over business objectives and finally, families running their businesses to earn a living, to meet their expenses, or keep themselves busy fall in the category of Hobby Salon.
Find out at least one family business for each of the four categories and then write an essay talking in detail about the reasons for why the companies you chose fall into those categories
Step by step
Solved in 3 steps
