Success of Family Company: Critical Evidence from the United States
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Purpose of the article The purpose of the paper is to define the point of family company’s success. The object of research is family business as an economical phenomenon. There is a double subject of this study: firstly, to find out the main resources, from which information about successful companies can be detected and, secondly, to analyze one big family company as case study for identification its key success factors. Methodology/methods The article was prepared on the basis of general theoretical scientific methods, in particular analysis, synthesis, analogy, comparison, generalizations, deduction and methods of expert estimates. In the first phase secondary research of scientific literature and electronic resources about the paper topic was conducted. On the base of that result, the primary research was conduct, which is based on analysis of family company E. & J. Gallo Winery. Based on the received information, the key success factors were identified. The sources of the research are internet web-pages of the company, articles about company in famous Czech business magazines and scientific journals form Emerald database, reports of company and financial data from Amadeus database and The Global Family Business Index. Scientific aim The aim of scientific research is to improve the understanding of family company’s success from the perspective of difficulties faced by family company. Findings The results of this study allowed the finding of a main point for the family company’s success based on review of key sources about successful family companies. In addition, activity of E. & J. Gallo Winery was analyzed as the case study for critical evidence that phenomenon. Conclusions This study has contributed to the theoretical body of family business research providing an important first step to gaining insights into the family company’s success and its key factors which influence effective functioning of family company.
Document typePeer reviewed
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SourceTrendy ekonomiky a managementu. 2016, X, č. 27, s. 57-66. ISSN 1802-8527.