TITLE

Professionalizing Family Businesses in the South-East Region of Nigeria

AUTHOR(S)
Onuoha, B. Chima
PUB. DATE
August 2012
SOURCE
International Business & Management;2012, Vol. 5 Issue 1, p153
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article is on Professionalizing Family Businesses in The South-East Region of Nigeria. The survey research covered the eight commercial cities of the region. The study revealed that virtually all the family businesses surveyed are not professionalized. Majority of family enterprises have no clearly stated vision and mission statements, they rarely attended seminars and training programmes; have few graduates and professionals in their employment, have poor wages and salaries structure; not incorporated; few are members of professional and trade associations; and largely not aware of government incentive policies on entrepreneurship development. It is against this backdrop that the paper made far reaching recommendations: such as incorporating family businesses, employing graduates and professionals, having functional boards of directors, employing the services of consultants, striving to be the best at something, etc, and highlighted the advantages of professionalizing family businesses to the benefit of the enterprises themselves and the Nigerian economy.
ACCESSION #
80536281

 

Related Articles

  • Family Business Family Continues To Expand. O'Bee, Gerald J. // Grand Rapids Business Journal;8/26/2002, Vol. 20 Issue 34, p20 

    Features family-owned business support organizations in West Michigan. Family Owned Business Council; Family Owned Business Institute; Family Owned Business User Group.

  • Improving Entrepreneur's Management Skills through Entrepreneurship Training. Putta, Santhosh Samuel // Journal of Commerce & Management Thought;Jul2014, Vol. 5 Issue 3, p459 

    This research paper focuses on establishing a relationship between the entrepreneurship training provided to budding entrepreneurs and their management skills. The research suggests that trained entrepreneurs have more management skills to run the enterprise than entrepreneurs without...

  • Marketing of family business at Post campus.  // Long Island Business News (7/1993 to 5/2009);02/05/99, Vol. 46 Issue 6, p1C 

    Presents a seminar on family business management at the C.W. Post campus in Brookville, New York on February 10, 1999.

  • Executive Director Letter.  // Business Journal Serving Fresno & the Central San Joaquin Valley;01/11/2002, Issue 322876, p3A 

    Comments on seminars concerning family business in Fresno, California. Issue on conflicts and communication; Topics on equity, financial and legal issues; Tradition of community support of family business.

  • Prevention proves profitable in family succession planning. Bosquez, Kristina D'Aun // Business Press;02/26/99, Vol. 11 Issue 44, p5 

    Provides information on seminars that will tackle issues concerning succession planning in family-owned business enterprises in Dallas, Texas. Importance of prevention and effective planning in family business succession; Factors that can lead to losing a family company; Contact information.

  • Appreciate the values Valley is built on: the family business. Stearns, Tim M. // Business Journal Serving Fresno & the Central San Joaquin Valley;01/04/99, Issue 322403, p6 

    Cites the importance of family businesses to the economy of the Central San Joaquin Valley in California. Way of life in Fresno; Entrepreneurship; Details of the 10th Annual Family Business Conference to be held on January 15, 1999; Details of a seminar on family-business management at...

  • The Family Business Tradition in Britain and Norway. Mariussen, Åge; Wheelock, Jane; Baines, Susan // International Studies of Management & Organization;Fall97, Vol. 27 Issue 3, p64 

    Compares the traditional Norwegian family businesses in the process of modernization with modern British business families who are reinventing traditional solutions. Information about the study on Norwegian fishing industry and Britain's micro businesses; Motives and values in small enterprises...

  • FAMILY BUSINESS. Barry, Tom // Georgia Trend;May2001, Vol. 16 Issue 9, p53 

    Discusses the impact of family businesses on the economy of Georgia. Creation of stability in the economy and in communities; Advantages that family business have over conglomerate businesses; Sponsorship of the Family Business Academy, a one-week program for next-generation business leaders,...

  • To join or not to join? That is the question. Buchholz, Barbara A. // Crain's Chicago Business;06/14/99, Vol. 22 Issue 24, pSB12 

    Presents the issue on whether new graduates with their own family businesses should start his or her career in the family firm. Reasons family business experts advise scions to start their careers outside the company; Consideration of emotional and family responsibilities. INSET: Why Junior...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics