1. identify and discuss the criteria (number 1 below) [a minimum of 3] that academics and others (number 2 below) use to assess the relative success (number 3 below) (or health) of a family business.
2. discuss and justify how well your family business, or one with which you are familiar, matches up to two [from the original selection of a minimum of 3] of these criteria.
1 Criteria: To know what “academics” think you should research academic literature to draw on criteria for assessment of success in family owned businesses. Research peer-reviewed journal articles – search for the criteria used to measure or assess “success” in family owned businesses.
2 Others: You need to think about / research who else (apart from academics) is involved in assessing or measuring “success” in family owned businesses. As a starting point the “others” might include customers, employees, shareholders, industry sector awards (Customer Service Awards, Corporate Social Responsibility Awards), business journalists (Forbes, Harvard Business Review), business authors.
3 Success: What does success mean to your chosen business? It would be sensible to make sure you fully understand what “success” means to your chosen business. What is the mission / vision of the business? What is the purpose of the business? What are the core values and aims of the business? It is highly likely that the business itself will judge its “success” and/or “health” based on how well they achieve their stated purpose. Consider sociocultural measures of success (reputation in local community, success in serving it etc).
In completing this research-based individual written assignment you will need to ensure that;the submission must be no more than 3000 words (excluding Table of Contents, Executive Summary,References, Appendices)you demonstrate that you have researched this topic and can substantiate your conclusions through reference to identified sources. (you should go into the greatest depth of research showing a depth and breadth of understanding of both theory and practical application.)you demonstrate that you can be critically analytical in applying these criteria to your own family
business or one with which you are familiar.
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