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Keywords:
family businesses family vision family business continuity family member commitment
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The assessment of the family vision generation process in small and medium-sized family businesses
Abstract
The objective of this study was to assess the family vision generation
process in small and medium-sized family businesses. Data from
489 questionnaires administered to 79 family businesses were
collected and analysed. An Oblimin oblique rotation was performed
on the principal components of the exploratory factor analysis. Three
factors with eigenvalues greater than one were extracted, explaining
61.93% of the variance, describing the theoretical dimensions of
the generation of the family vision, the commitment of the younger
generation family members to family business continuity and the
commitment of the senior generation family members to family
business continuity. The results of this study indicate that a signifi cant
proportion of the variation in the generation of the family vision is
explained by the commitment of the senior and younger generation
family members to family business continuity. No practically
signifi cant diff erences in the mean values could be found between
the three extracted factors and the demographic variables in this
study. Recommendations are off ered to utilise the questionnaire as
a measuring instrument. Practical recommendations are suggested
to ensure an eff ective family vision generation process in small and
medium-sized family businesses.
process in small and medium-sized family businesses. Data from
489 questionnaires administered to 79 family businesses were
collected and analysed. An Oblimin oblique rotation was performed
on the principal components of the exploratory factor analysis. Three
factors with eigenvalues greater than one were extracted, explaining
61.93% of the variance, describing the theoretical dimensions of
the generation of the family vision, the commitment of the younger
generation family members to family business continuity and the
commitment of the senior generation family members to family
business continuity. The results of this study indicate that a signifi cant
proportion of the variation in the generation of the family vision is
explained by the commitment of the senior and younger generation
family members to family business continuity. No practically
signifi cant diff erences in the mean values could be found between
the three extracted factors and the demographic variables in this
study. Recommendations are off ered to utilise the questionnaire as
a measuring instrument. Practical recommendations are suggested
to ensure an eff ective family vision generation process in small and
medium-sized family businesses.
