Stakeholder Perceptions of Culture and Management Practices in Family and Family Firms - A Preliminary Report

Abstract

The research reported here represents part of an on-going project. Family businesses participating in the Partnership with Family Business at the Weatherhead School of Management, Case Western Reserve University, completed questionnaires that explored family and business culture and practices. The completed questionnaires show that CEOs generally perceived the practices, cultures, and succession processes more favorably than both other family members and non-family managers. The questionnaires indicate important relationships between family and family-firm cultures, suggesting the importance of intervention approaches that address the whole system of family and business. Non-family managers' perceptions of family firms differ, posing challenges to the full1 utilization of their capabilities. Age is significant in explaining some of the differences in perceptions within and between family and non-family respondents. Finally, responses indicate that planning practices, communication processes, and the use of boards are influenced by family ownership and are positively related to some features of firm andqor family.