Cross-Institutional Norms for Timing and Sequencing and the Use of Adjustment Strategies in Families Affiliated with Family-Owned Businesses

Abstract

ABSTRACT The purpose of this study is to explore the impact of variables related to the timing and sequencing of family and business development on the types of adjustment strategies that business and family managers use during hectic times. The purpose is accomplished through the analysis of a national sample of business-owning families in which the family manager had at least one child living in the household. Findings indicate that the stage of the business life cycle has a significant impact on reallocating family resources as an adjustment strategy. Additionally, family variables are most influential in the adjustment strategy of reallocating business resources. The findings underscore the importance of using variables from both the business and the family realms in attempting to understand the dynamics associated with family-owned businesses