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Non economic goals - Coggle Diagram
Non economic goals
Process of goal setting in FB
Obs2: relation between individual goals and organizational memberships varies across the generations
Obs3: the relationship between individual goals and organizational membership varies across the stage of intra family succession
Obs 1: organozational members goals relflect their membership
Organizational goals diversity
The higher the number and membership assortment of organizational members in the family firm, the higher the goals diversity
Social interaction processes
The higher the organizational goal diversity, the higher the occurence of goal centered social interaction processes
Stabilization
Stabilization of family centered goals is more likely to occur through familial than professional social interactions
Collective commitment to family centered goals
The higher the reliance on familiar social interactions, the higher the collective commitment to family centered goals
Goals diversity is expressed more strongly when an intra family is imminent
The higher the reliance on professional social interactions, the lower the collective commitment to family centered goals
The determinante of FCNE goals:
socio emotional wealth
multiple salient goals => driven by the values of the family
the stock of social and affect related value that the family has invested in the firm
Collaborative behaviours and emotional aspects
DIMENSIONS OF SEW: FIBER
Binding social ties
: SEW provides kinship ties with some of the same collective benefits that arise in closed networks (collective social capital)
Emotional attachment
: that result from daily situations and are not static
Family members' identification
with the firm: stakeholders view the family company as an estention fo the famly
Renewal of family bonfs to the firm through dynastic succession
: family members view rthe firm as a long term family investement
Family control and influenc
e: the family exert control over strategic decisions: direct and indirect control
Goals in the family firm
Family centered goals
Non economic goals
Family social status
Continue family tradition
Nourish family pride
Family identity linkage
Meet family expectations
Ensure integration of family values in the firm
Family harmony
Trustful relations
Loyalty
Support
Economic goals
Family wealth
Ensure economic security to new generations
Family control
Firm's financial independence
Transfer the company to new geranations
Providing job opportunities for members
Non family centered goals
Noneconomic goals
Firm's internal serenity
Chance to growth
Innovative and quality products
Safe workplace
External relations
Reputations
Relations with suppliers and customers
Economic goals
Firm's survival
Mantaining actual position
Financial returns
Firm's economic perfomances
Turnover
Profits
Firm's growth
Risk diversification
Increase market value
Family firm
Social emotional wealth preservation
Organizational governance (role of the board, agency contract)
Stakeholder relationships (stakeholder management)
Strategic choices
Business venturing (role of families in new ventures)
Management processes