• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.199-206
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• 2021

This study investigated the main concerns and strategies in Indonesian large family businesses to undertake intergenerational succession effectively. The research data was obtained to shed light on the incumbents' mindsets, key preferences, and experiences during the succession process. Access to incumbents of large family businesses that are conglomerates is scant. The preceding survey research was conducted to sensitize with the intricacy of the intergenerational succession process in large family businesses before entailing interpretative phenomenology analysis of qualitative data from interviews, observations, and field notes by approaching family members in five conglomerate groups that have major impacts on the economy. The findings explicate the incumbents' preferred criteria in choosing their successors as well as their perceived concerns revolving around the appointment. Additionally, the incumbents' succession approaches such as apprentice learning by successors, adaptability to external forces by successors, nurturing the entrepreneurial spirit in successors, governance establishment in the firms, business interest stimulation in successors, role modeling by incumbents, and collaboration between family and key non-family members are elicited during the intergenerational succession process. This study concluded with noteworthy implications for incumbents and successors in large family businesses, especially providing explicit criteria and strategies to appoint suitable successors, and suggesting potential avenues for future research.

• Journal of the Korean Home Economics Association
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• v.38 no.7
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• pp.1-12
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• 2000

Although the term 'family business' is relatively new, this style of business is universal. An Unusual feature that must be noted, is that even though it is a common style of business is not clearly defined. The purpose of this study is to identify the different family participation patterns, and the variables that effect different types of participation. '1997 Daewoo Panel Data' was used. Some descriptive statistics and a multinomial logit model were employed for the analysis. The standard type of business focused on in this study was a family owned and operated 'ma and pa' typed business and the sample was limited to households where one or both of the partners involved in a family owned and operated business. The main resets obtained from this sample were as follows: 1. Personal characteristics such as respondents' gender, age and educational level were important variables that effected the participation of family members in the business. As can be seen in the gender analysis, family businesses owned by men showed all available patterns of family operated businesses in relatively high numbers. A large percentage of businesses owned women were of self-employed pattern. According to the analysis by age and educational level, young people with a high level of education tend to managed their small businesses by employing others rather than utilising the self-employed or family operated pattern. 2. While big families showed a high percentage of a combination pattern of a family-run, and ordinary employer/employee company, relatively small families usually opted for purely family-run businesses. Whether the family have children under 6 or not, and the number of children under 6 did net significantly effect to the patterns of the family system of small family businesses. 3. The size, location and kind of family business also effected participation patterns of the family members significantly. These results suggest that further study will be required to gain more exact and meaningful information to help Korean family businesses.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.3
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• pp.45-56
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• 2017

Considerable research has been done on the issue of succession in family businesses. However the process of induction, of preparing the members of the next generation for joining the family business has not been examined in detail. This paper attempts to analyse the relevance of three critical factors - 'quality of relations', 'willingness of the inductee' and 'the ability to manage tensions harmoniously' - to the induction process and the progress of the business. It focuses on the Indian context, specifically in the Small and medium Enterprise (SME) area. Qualitative research has been carried out. The Case Study method is used and data has been gathered from two families (including two branches of one family), using frequent unstructured interviews, over a period of five years. It is concluded that positive impact on business, family and the inductee depends to a large extent on the quality of relations, willingness of the inductee and the ability of both the inductor and inductee to handle and manage the tensions. Thus the findings of the study extend current understanding about succession drivers to the specific context of eastern cultural and developing economy represented by the Indian family businesses in the small and medium enterprise sector.

• The Journal of Fisheries Business Administration
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• v.36 no.1 s.67
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• pp.139-153
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• 2005

Marine fish aquaculture has been introduced on the East sea since 1964. The production volume of the marine aquaculture has been increasing drastically since 1990 with the technological improvements and the introduction of new species. However, the increasing costs of feed, seedlings and medical supplies and the decreasing prices due to the increase in the imports and domestic production have decreased the profits in the aquaculture business. Futhermore, the damage from the natural disasters such as red tides and typhoons has accelerated the exit from the business. Even though managing abilities to overcome the business crisis caused by the above factors are required, business managers based on the small scale family businesses do not have enough managing abilities to deal with the difficulties in the business. On the other hand, advanced countries in the marine aquaculture such as Norway have reached the stage where the managing abilities of marine aquaculture are similar to those in the manufacturing industry. And the number of large scale aquaculture farms with developed technologies and advanced marketing strategies in those countries is increasing. Considering that the marine aquaculture in Japan under the similar fishery systems of Korea has developed the state-of-the-art management skills or lead to large scale management, it is difficult to expect the decrease in the production costs under the small scale family business in Korea and this will lead to the decreasing competitive advantage over the imported seafood. Therefore marine aquaculture in Korea needs to increase the economy of scale to acquire the competitive advantage. This study addresses the possibility of introducing the large scale aquaculture system in Korea by analysing the factors and process of leading to large scale businesses in the aquaculture in Japan.

• Korean small business review
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• v.42 no.2
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• pp.69-92
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• 2020

This study is aimed at the growth and development of family businesses that greatly contribute to Korea's economic development, but the specific research purpose is to firstly examine the research trends and current status of Korean family businesses and compare them with those of developed countries such as the United States. Second, I would like to look at the future research for revitalizing Korean family business research. In addition, we intend to contribute to increasing the interest in this field and the number of researchers involved. The research target of this paper is 212 papers published in professional academic journals for 13 years from 2006 to 2018 when family businesses began to be fully researched in Korea, 112 master's and doctoral dissertations (graduate schools), and 324 totals. As a result of empirical analysis, the number of published papers is increasing more than the initial ones, but it has been on the decline recently. In addition, 57.5% of the journals are papers that do not have specific definitions or simply list the claims of several scholars by analyzing content. Thesis was 33.9%. As for the type of research, qualitative research, which is a conceptual research, is a small number, and empirical research occupies most of the research topics. Research topics and academic dissertations also have a large proportion of management, management strategy, succession, financial accounting, and business performance. In other words, it can be said that the research on family business in Korea corresponds to the early childhood of the United States. First of all, in the future, we need to put more effort into increasing the qualitative research, starting with the definition of a family business, which is an essential problem, in addition to the theory building of family business. Second, as an analysis level of research, we should make family an important level of analysis for existing individuals, groups, and organizations. Third, the research subject and research area should be expanded. It is desperately necessary to study large companies including chaebols, mainly from small and medium-sized companies, which are the existing research areas of family business. In addition, it is considered that it is necessary to appropriately introduce various theories suitable for the interdisciplinary study, which is the characteristic of the family business, for example, theories of family science, psychology, and sociology. Fourth, it should build the research infrastructure.

• Journal of Distribution Research
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• v.17 no.5
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• pp.1-23
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• 2012

The conflict between major corporations and small and medium-sized businesses is being aggravated, the trickle down effect is not working properly, and, as the controversy surrounding the effectiveness of the business limiting system continues to swirl, the plan proposed to protect the business domain of small and medium-sized businesses, resolve polarization between these businesses and large corporations, and protect small family run stores is the suitable business type designation system for small and medium-sized businesses. The current status of carrying out this system of selecting suitable business types among small and medium-sized businesses involves receiving applications for 234 items among the suitable business types and items from small and medium-sized businesses in manufacturing, and then selecting the items of the consultative group by analyzing and investigating the actual conditions. Suitable business type designation in the service industry will involve designation with priority on business types that are experiencing social conflict. Three major classifications of the service industry, related to the livelihood of small and medium-sized businesses, will be first designated, and subsequently this will be expanded sequentially. However, there is the concern that when designated as a suitable business type or item, this will hinder the growth motive for small to medium-sized businesses, and designation all cause decrease in consumer welfare. Also it is highly likely that it will operate as a prior regulation, cause side-effects by limiting competition systematically, and also be in violation against the main regulations of the FTA system. Moreover, it is pointed out that the system does not sufficiently reflect reverse discrimination factor against large corporations. Because conflict between small to medium sized businesses and large corporations results from the expansion of corporations to the service industry, which is unrelated to their key industry, it is necessary to introduce an advanced contract method like a master franchise or local franchise system and to develop local small to medium sized businesses through a franchise system to protect these businesses and dealers. However, this method may have an effect that contributes to stronger competitiveness of small to medium sized franchise businesses by advancing their competitiveness and operational methods a step further, but also has many negative aspects. First, as revealed by the Ministry of Knowledge Economy, the franchise industry is contributing to the strengthening of competitiveness through the economy of scale by organizing existing individual proprietors and increasing the success rate of new businesses. It is also revealed to be a response measure by the government to stabilize the economy of ordinary people and is emphasized as a 'useful way' to revitalize the service industry and improve the competitiveness of individual proprietors, and has been involved in contributions to creating jobs and expanding the domestic market by providing various services to consumers. From this viewpoint, franchises fit the purpose of the suitable business type system and is not something that is against it. Second, designation as a suitable business type may decrease investment for overseas expansion, R&D, and food safety, as well negatively affect the expansion of overseas corporations that have entered the domestic market, due to the contraction and low morale of large domestic franchise corporations that have competitiveness internationally. Also because domestic franchise businesses are hard pressed to secure competitiveness with multinational overseas franchise corporations that are operating in Korea, the system may cause difficulty for domestic franchise businesses in securing international competitiveness and also may result in reverse discrimination against these overseas franchise corporations. Third, the designation of suitable business type and item can limit the opportunity of selection for consumers who have up to now used those products and can cause a negative effect that reduces consumer welfare. Also, because there is the possibility that the range of consumer selection may be reduced when a few small to medium size businesses monopolize the market, by causing reverse discrimination between these businesses, the role of determining the utility of products must be left ot the consumer not the government. Lastly, it is desirable that this is carried out with the supplementation of deficient parts in the future, because fair trade is already secured with the enforcement of the franchise trade law and the best trade standard of the Fair Trade Commission. Overlapping regulations by the suitable business type designation is an excessive restriction in the franchise industry. Now, it is necessary to establish in the domestic franchise industry an environment where a global franchise corporation, which spreads Korean culture around the world, is capable of growing, and the active support by the government is needed. Therefore, systems that do not consider the process or background of the growth of franchise businesses and harm these businesses for the sole reason of them being large corporations must be removed. The inhibition of growth to franchise enterprises may decrease the sales of franchise stores, in some cases even bankrupt them, as well as cause other problems. Therefore the suitable business type system should not hinder large corporations, and as both small dealers and small to medium size businesses both aim at improving competitiveness and combined growth, large corporations, small dealers and small to medium sized businesses, based on their mutual cooperation, should not include franchise corporations that continue business relations with them in this system.

• Korean small business review
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• v.39 no.1
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• pp.1-39
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• 2017

The first generation of the business that had been founded in 1960~1970s faces the situation to consider the succession of the family business developed by devotion of their whole lives in the critical timing to the next generation. In the process of selecting the party of family business succession, it is required to consider a variety of succession types including smooth transfer to the other family member or the employee of the company, selling the company, or hiring external specialist. Foreign countries acknowledge the importance of the succession in the family owned company to perform multiple studies on the influential factors to the succession, distinction, and types of family business succession; and they utilize the results for the related policy development and the support of family owned business succession. However, few studies have been conducted on the succession of the domestic family owned business and majority of them are related to the types of succession. Considering its share and influential power in the domestic economy, it is necessary to develop the guideline and the policies to solve many issues on the succession of the family owned business by systemic studies. Hence, the impact of the main characteristics in the family owned business on the types of its succession was analyzed in this study focusing on five domains of Socioemtional Wealth (SEW) in view of Behavioral Agency Theory by Gomez-Mejia et al. (2007) using the data from 540 family owned small-to-medium sized businesses so as to analyze the issues on their business succession. Upon the empirical analysis results, it was confirmed that they were influenced to the selection of succession type by family succession > internal employee succession > external succession, for the variables of social contribution which were non-financial characteristics, internal employee succession > family succession > external succession for the intellectual properties, and family succession > external succession for the management participation of the family. The distinction of social contribution were influenced the most to the selection of the succession types. Financial factors, business performance, and R&D investment variables were not significantly influenced to their selection of the succession types. In case of simultaneous management, the family succession rate was high and it showed the control effect to strengthen selecting family owned business with R&D investment, social contribution, and company history variables. The behavioral agency theory used in this study was confirmed with high explanation power on the family owned business succession. The family owned business showed the tendency to maintain SEW, and non-financial factors such as accumulated know-how and social contribution based on the long term history were significantly affected to the succession in the small-to-medium sized family owned businesses, unlike general large sized listed companies. The results of this study are expected to be helpful practically for the succession of the family owned business and to suggest the guideline for the development of governmental policy.

• Journal of the Korea Safety Management & Science
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• v.24 no.2
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• pp.135-142
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• 2022

The smart factory is an important system that can reduce defects, maximize productivity, and respond to customer needs, from the labor-intensive era of traditional small and medium-sized manufacturing companies through the automation era to CPS using ICT. However, small and medium-sized manufacturers often fall short of the basic stage due to economic and environmental constraints, and there are many companies that do not even recognize the concept of a smart factory. In this situation, to expand the smart factory of small and medium-sized enterprises, the project to support the establishment of a smart factory for the win-win between large and small enterprises. The win-win smart factory construction support project provides a customized differentiation program support project according to the size and level of the company for all domestic manufacturing SMEs regardless of whether or not they are dealing with Samsung. In this study, we analyze the construction status and introduction performance of companies participating in the win-win smart factory support project to find out whether they have been helpful in management and to find efficient ways to improve support policies, and to suggest the direction of continuous support projects to improve the manufacturing competitiveness of SMEs in the future.

• Journal of the Korean Society for information Management
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• v.28 no.3
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• pp.83-101
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• 2011

The international standards, ISO 15489 and Family Code, recommend using functional classification method both in public and private organizations. In this study made a comparative analysis of the details of classification systems through case studies on records classification systems of a total of seven comprehensive construction companies in Korea including three large corporations and four small and medium-size businesses. Findings of this study suggester the direction of developing construction records classification system and its methodology. By summarizing classification standards derived from these case studies, key construction records classification standards were presented.

• Korea journal of population studies
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• v.23 no.2
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• pp.79-112
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• 2000

This study was focused on the contrasting pattern of part-time employment between Japan and Taiwan where the environments are similar in terms of expanding service industries and increasing flexibility of labor. In Japan, the expansion of part-time employment and its feminization have occurred, whereas they have not at all in Taiwan. The purpose of this study was to examine the reasons behind this phenomena, and to explore what relations they might have with the supply of women\`s labor in each country. Data analysis showed the following results. First, when the phenomena of part-time employment in Japan and Taiwan are summarized as \`active\` and \`inactive\` models, the difference could be explained by a structure-oriented approach rather than an individual-oriented approach. In other words, the difference between the two countries is mainly because of the structural characteristics of the labor market. a combination of capitalism and patriarchy, and an effect of state welfare and family policies rather than a \`voluntaristic choice\` due tn household work and child rearing. In light of this. the labor market segmentation and flexibility of labor theory in particular provided a useful frame for explanation. Second, with regard to the supply of women\`s labor, the difference between Japan and Taiwan could be found in the structure of the labor market and in family response strategies. The large corporation-oriented and strictly divided labor market structure in Japan activated part-time employment and its feminization, whereas, the small family-oriented businesses and less divided labor market in Taiwan supported the continuity of full-time employment of married women. There was also a room for informal employment in Taiwan which made part-time employment unnecessary. This study showed that even within similar environments of expanding service industry and pursuing flexibility of labor different measures and adaptations were possible. The case of Taiwan in particular, showed the significance of an informal labor market which was a part of industrialization process and a strategy of producing various products through a subcontracting network.