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Emergence of Familiness and Family Owned Business Performance: The Case of Myanmar

Emergence of Familiness and Family Owned Business Performance: The Case of Myanmar
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Author(s): Nay Zar Aung (Japan Advanced Institute of Science and Technology (JAIST), Nomi, Japan) and Youji Kohda (Japan Advanced Institute of Science and Technology (JAIST), Nomi, Japan)
Copyright: 2022
Pages: 15
Source title: Research Anthology on Strategies for Maintaining Successful Family Firms
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-6684-3550-2.ch044

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Abstract

This article explores the concept of familiness in family-owned businesses (FOBs), identifying how families generate their own resources for business performance. Applying the resource-based view, the authors examined seven Myanmar businesses. Findings revealed that two factors influence familiness in Myanmar FOB: family unity and internal governance systems, which can be subdivided into traditional and collective systems. Moreover, evaluation revealed that FOB's business performance was affected by different family attitudes. A combination of family unity and a traditional internal governance system was conducive to controlling the internal business capabilities, whereas creating external opportunities were considered more effective for a combination of family unity and a collective internal governance system. Findings suggest that familiness emerges through embedded family resources that incorporates a sense of awareness with abilities for business advantages. These empirical results can provide insights and inputs that can help small and medium-sized FOBs safeguard their future.

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