The 3D IFB SWOT Analysis as a Strategic Tool to Develop Entrepreneurial Plans for Family Businesses

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Author(s): Luz Leyda Vega-Rosado (Inter American University of Puerto Rico at San Germán, Puerto Rico)
Copyright: 2020
Pages: 27
Source title: Handbook of Research on the Strategic Management of Family Businesses
Source Author(s)/Editor(s): Jesús Manuel Palma-Ruiz (Universidad Autónoma de Chihuahua, Mexico), Ismael Barros-Contreras (Universidad Austral de Chile, Chile)and Luca Gnan (University of Rome "Tor Vergata", Italy)
DOI: 10.4018/978-1-7998-2269-1.ch017

Keywords: Business & Management / Business Science Reference / Entrepreneurship & Innovation / Small and Medium Enterprises

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Abstract

This chapter provides a framework that family business members can use to strategically and entrepreneurially evaluate themselves before they prepare the final strategic plan of the family firm. The tool consists of four phases. The first phase is the Strengths-Weaknesses-Opportunities-Threats (SWOT) analysis of the Individuals that are members of the family business. The second phase is the SWOT analysis of the Family's generational groups. Each generation in the family business will work in groups according to their year of birth. The third phase is the SWOT analysis of the Business. The fourth and most important phase is the integration called 3D IFB SWOT Analysis. It is 3D because it is three-dimensional, integrating the Individual, the Family's generations, and the Business.

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The 3D IFB SWOT Analysis as a Strategic Tool to Develop Entrepreneurial Plans for Family Businesses

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