This study designed a ‘family business consulting process’ and ‘family business consulting tool’ (hereinafter referred to as “FBC TOOL”) that can improve the current issues of a family business by understanding a family business and applying a consulting methodology. For a scientific and reasonable ...
This study designed a ‘family business consulting process’ and ‘family business consulting tool’ (hereinafter referred to as “FBC TOOL”) that can improve the current issues of a family business by understanding a family business and applying a consulting methodology. For a scientific and reasonable approach during the design procedures, the study set a weighted value of diagnosed items by applying the AHP method aimed at professionals in family businesses. Also, the study confirmed the Usefulness of the outcome through a survey as well as that of the FBC TOOL, which is very useful for consulting with an actual family business, through three types of consulting case studies. Therefore, the study built a family business consulting model system, and proposed a new research subject; namely, family business consulting by business researchers from a scholastic perspective. The study offers a tool to develop consulting with various professionals in the family business consulting field, and to discover family business professionals and expand its base. Furthermore, professionals who participated in the research procedures prioritized the relative importance of assessed items into a succession plan, the fostering of a successor, financial planning, strategy planning, conflict management, family planning, and retirement planning, in order. Plus, the study discovered the priority to focus on in a family business’s management, which means that a succession planning method should be applied foremost to Korean family business management because succession planning facilitates the transfer of business operations between generations. This study is meaningful and important as it devised a primary model that can provide consulting to Korean family businesses. However, since family business consulting is relatively new in Korea, there is little research data on family businesses in terms of both intangible and tangible data, and information about family business consulting has been lacking. On top of that, from the responses of professionals who participated in the survey to calculate a weighted value in the large category of the family business assessment model, it was hard to exclude the possibility of distorting the total statistical values by applying a relatively weighted value to the field that I personally conduct research into or am interested in. It is expected that various methods which will be realized in an efficient family business may be offered provided that diverse assessment models or consulting tools as well as a wide array of case studies of family businesses or the model proposed in this study would be developed by making up for these limitations and conducting research into family businesses afterwards could occur.
This study designed a ‘family business consulting process’ and ‘family business consulting tool’ (hereinafter referred to as “FBC TOOL”) that can improve the current issues of a family business by understanding a family business and applying a consulting methodology. For a scientific and reasonable approach during the design procedures, the study set a weighted value of diagnosed items by applying the AHP method aimed at professionals in family businesses. Also, the study confirmed the Usefulness of the outcome through a survey as well as that of the FBC TOOL, which is very useful for consulting with an actual family business, through three types of consulting case studies. Therefore, the study built a family business consulting model system, and proposed a new research subject; namely, family business consulting by business researchers from a scholastic perspective. The study offers a tool to develop consulting with various professionals in the family business consulting field, and to discover family business professionals and expand its base. Furthermore, professionals who participated in the research procedures prioritized the relative importance of assessed items into a succession plan, the fostering of a successor, financial planning, strategy planning, conflict management, family planning, and retirement planning, in order. Plus, the study discovered the priority to focus on in a family business’s management, which means that a succession planning method should be applied foremost to Korean family business management because succession planning facilitates the transfer of business operations between generations. This study is meaningful and important as it devised a primary model that can provide consulting to Korean family businesses. However, since family business consulting is relatively new in Korea, there is little research data on family businesses in terms of both intangible and tangible data, and information about family business consulting has been lacking. On top of that, from the responses of professionals who participated in the survey to calculate a weighted value in the large category of the family business assessment model, it was hard to exclude the possibility of distorting the total statistical values by applying a relatively weighted value to the field that I personally conduct research into or am interested in. It is expected that various methods which will be realized in an efficient family business may be offered provided that diverse assessment models or consulting tools as well as a wide array of case studies of family businesses or the model proposed in this study would be developed by making up for these limitations and conducting research into family businesses afterwards could occur.
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