Attention has been drawn recently to the differences which exist between family and non‐family firms, but Ward indicates that there are different types of family firms. More specifically, as Dunn puts it, “in some families it is evident that the business serves the family, as opposed to the family serves the business”. For some families in business, economic rationality dominates decision making, yet for others a “family first” ethos is to the fore, while a third group recognises the need to respond to economic and family considerations. In this paper firms which pay attention to both family and business are not investigated. However, Ward’s model of the characteristics of family firms is discussed and data based on a Scottish and Irish sample of 234 firms which put family first when business and family objectives clash, and 830 firms which focus on business objectives, are presented. Results suggest that the former exhibit several of the characteristics defined by Ward. This suggests that a considerable number of family firms may be lifestyle – as opposed to growth‐oriented businesses. These results have major implications for policy makers. If a substantial number of family firms differ from rational economic ventures by their methods of operation, then policy makers should be flexible with regard to the methods of intervention required to support this important section of the SME community. Policy issues in connection with family firms in Britain are considered in the light of our findings.
Journal of Small Business and Enterprise Development – Emerald Publishing
Published: Mar 1, 1999
Keywords: Family firms; Business policy; Company philosophy
It’s your single place to instantly
discover and read the research
that matters to you.
Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.
All for just $49/month
Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly
Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.
Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.
Read from thousands of the leading scholarly journals from SpringerNature, Wiley-Blackwell, Oxford University Press and more.
All the latest content is available, no embargo periods.
“Hi guys, I cannot tell you how much I love this resource. Incredible. I really believe you've hit the nail on the head with this site in regards to solving the research-purchase issue.”Daniel C.
“Whoa! It’s like Spotify but for academic articles.”@Phil_Robichaud
“I must say, @deepdyve is a fabulous solution to the independent researcher's problem of #access to #information.”@deepthiw
“My last article couldn't be possible without the platform @deepdyve that makes journal papers cheaper.”@JoseServera