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Article: The Complete Life Cycle of a Family Business
- Article from:
- Journal of Applied Management and Entrepreneurship
- Article date:
- July 1, 2006
- Author:
CopyrightCopyright Nova Southeastern University, H. Wayne Huizenga School of Business and Entrepreneurship Jul 2006. Provided by ProQuest LLC. (Hide copyright information)
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Executive Summary
A small, family owned and operated construction company, AAA Construction, Inc., is followed throughout its turbulent thirty-eight year history. A five-stage model is employed to chronicle the company's disjointed development, identifying eleven distinct life cycle stages. The findings reveal a lack of lessons learned and a tremendous willingness by the founder to resist change. The study clearly reveals the importance of information processing, decentralized decision-making, succession planning, and market research for diversification.
Introduction
There has recently been a call in the literature for the expansion of management research into the unique nature of family ...