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Book Review: Success and Survival in the Family-Owned Business

Book Review: Success and Survival in the Family-Owned Business employee performance by utilizing generally proven techniques. It is equally useful in collegiate level introductory management courses and supervisory training workshops and short seminars. Indeed, this reviewer has benefitted from several of the author's suggestions and checklists in his own supervisory training sessions. Wallace L. Gatewood University of Baltimore Alcorn, Pat B. Success and Survival in the Family-Owned Business. McGraw Hill Book Company, New York, 1982. audited and/or receive close audit attention. Through the years of progressive management research, few writers have thoroughly addressed issues arising in the operation of the family­ owned business. This book is written in an attempt to fill that research void. It is well written, easily and leisurely read and quite interesting. The case examples included in each chapter highlight the topic areas with real situations; many of these are prominent and familiar organizations and their founders. The first ten chapters in the book take the reader through a logical step-by-step account of family-owned businesses. Discussed in detail are topics such as: The rise of family-owned businesses; the importance of the family-owned business to the economy; the evolution of the entrepreneur, including the ingenuity and hardship that preceded building some empires; management and maintenance of the family-owned business, dealing with such issues as employing siblings and other family members; descriptions of various career progression paths for family members; succession of the family boss, either by voluntary/unvoluntary retirement or death; and continuation of the family-owned business by later generations. Problems that may arise in these areas, either in the home or the office, are explored. In addition, discussions and cited examples of how the family-owned business may deal with or avoid these problems are included. Chapter eleven contains a number of personal attributes (and descriptions of each) which are utilized to develop the following: 1. Entrepreneur Quotient (EQ) - An individual's potential success as an entrepreneur. . . 2. Security Sector (SS) Score - How successful the owner of a family-owned business operates in a number of sectors . . . 3. Retirement Readiness (RR) Rating - How prepared the owner of a family-owned business is to the withdrawal phases stage of business ... While the book has many promising qualities, it does not readily lend itself as a primary text for a course in small business management. Rather, it should be viewed as a complementary reference book, one that students and practitioners alike, involved with small business/family­ owned business, would welcome as an addition to their libraries. The book (242 pages) is available in hardback cover for $17.95. David A. DeCenzo University of Baltimore American Journal of Small Business, Vol. VI, No.1, July-Sept., 1981 59 http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png American Journal of Small Business SAGE

Book Review: Success and Survival in the Family-Owned Business

American Journal of Small Business , Volume 6 (1): 1 – Jul 1, 1981

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Publisher
SAGE
Copyright
© 1981 SAGE Publications
ISSN
0363-9428
eISSN
1540-6520
DOI
10.1177/104225878100600112
Publisher site
See Article on Publisher Site

Abstract

employee performance by utilizing generally proven techniques. It is equally useful in collegiate level introductory management courses and supervisory training workshops and short seminars. Indeed, this reviewer has benefitted from several of the author's suggestions and checklists in his own supervisory training sessions. Wallace L. Gatewood University of Baltimore Alcorn, Pat B. Success and Survival in the Family-Owned Business. McGraw Hill Book Company, New York, 1982. audited and/or receive close audit attention. Through the years of progressive management research, few writers have thoroughly addressed issues arising in the operation of the family­ owned business. This book is written in an attempt to fill that research void. It is well written, easily and leisurely read and quite interesting. The case examples included in each chapter highlight the topic areas with real situations; many of these are prominent and familiar organizations and their founders. The first ten chapters in the book take the reader through a logical step-by-step account of family-owned businesses. Discussed in detail are topics such as: The rise of family-owned businesses; the importance of the family-owned business to the economy; the evolution of the entrepreneur, including the ingenuity and hardship that preceded building some empires; management and maintenance of the family-owned business, dealing with such issues as employing siblings and other family members; descriptions of various career progression paths for family members; succession of the family boss, either by voluntary/unvoluntary retirement or death; and continuation of the family-owned business by later generations. Problems that may arise in these areas, either in the home or the office, are explored. In addition, discussions and cited examples of how the family-owned business may deal with or avoid these problems are included. Chapter eleven contains a number of personal attributes (and descriptions of each) which are utilized to develop the following: 1. Entrepreneur Quotient (EQ) - An individual's potential success as an entrepreneur. . . 2. Security Sector (SS) Score - How successful the owner of a family-owned business operates in a number of sectors . . . 3. Retirement Readiness (RR) Rating - How prepared the owner of a family-owned business is to the withdrawal phases stage of business ... While the book has many promising qualities, it does not readily lend itself as a primary text for a course in small business management. Rather, it should be viewed as a complementary reference book, one that students and practitioners alike, involved with small business/family­ owned business, would welcome as an addition to their libraries. The book (242 pages) is available in hardback cover for $17.95. David A. DeCenzo University of Baltimore American Journal of Small Business, Vol. VI, No.1, July-Sept., 1981 59

Journal

American Journal of Small BusinessSAGE

Published: Jul 1, 1981

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