Paper Title :The Cultural Foundations of Successful Family Business Management: Critical Review

Author :Vikramsing Gunga, Vishal Chandr Jaunky, Vani Ramesh

Article Citation :Vikramsing Gunga ,Vishal Chandr Jaunky ,Vani Ramesh , (2017 ) " The Cultural Foundations of Successful Family Business Management: Critical Review " , International Journal of Management and Applied Science (IJMAS) , pp. 135-142, Volume-3,Issue-5

Abstract : This study intends to examines what makes Successful Family Business unique with a frame work Hofstede's cultural dimension`s theory. Hofstede developed his original model, the original theory proposed four dimensions along which cultural values could be analyzed: individualism-collectivism; uncertainty avoidance; power distance (strength of social hierarchy) and masculinity-femininity (task orientation versus person-orientation). Independent research in Hong Kong led Hofstede to add a fifth dimension, long-term orientation, to cover aspects of values not discussed in the original paradigm. In 2010, Hofstede added a sixth dimension, indulgence versus self-restraint. The theory has been widely used in several fields as a paradigm for research, particularly in cross-cultural psychology, and this paper is a critical analysis of influence of cultural dimension on the success of family business as a contribution for the existing literature. Key Words- Family Business, Cultural Foundations, Review, Success.

Type : Research paper

Published : Volume-3,Issue-5

	|		PDF	|	Viewed - 55	|	Published on 2017-07-17