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Autor
Nikodemska-Wołowik Anna Maria (University of Gdansk, Poland), Marjański Andrzej (University of Social Sciences in Łódź, Poland), Brack Anna (August Storck KG Berlin, Germany)
Tytuł
Company Values - a Case Study of the Family Enterprise August Storck KG
Źródło
Journal of Intercultural Management, 2019, vol. 11, nr 1, s. 5-22, rys., bibliogr. 19 poz.
Słowa kluczowe
Przedsiębiorstwo rodzinne, Kultura przedsiębiorstwa, Wartość przedsiębiorstwa
Family-owned business, Culture of enterprise, Enterprise value
Uwagi
Klasyfikacja JEL: F23, L20, M12, M14
summ.
Abstrakt
Objective: The article's purpose is twofold: 1) to demonstrate how a corporate culture influences an enterprise's success, and 2) how important it is to follow its values throughout the business down to each individual employee.
Methodology: The study shows how the structure of a business and its success are affected by being family-owned company. The paper is based on expert individual semi-structured indepth interviews with selected board members as well as the Chief Operating Officer (COO) of a foreign subsidiary.
Findings: The findings illustrate how the guidelines set up by the mother company affect daily activities. Furthermore, the results indicate how the company's objectives are accompanied by the defined corporate values, and how they are transferred to the management team and each employee.
Value Added: The study, which is rather of a practical nature, proposes some management rules applying to the daily work of the Board, the COOs and the units abroad. This policy gives an insight how the family enterprise communicates its values and beliefs in order to maintain definite working practices around the world.
Recommendations: The paper gives an insight into the international market challenges for family-owned businesses, using August Storck KG as an example. In any firm, corporate culture should be built on stable and timeless values repetitively displayed, reflected in all activities and internalized by the entire team. The key is the need to connect the company's goals with the values resulting from being a family business. Consequently, employees have a great interest in a positive development of the firm and hence give their best working expertise to ensure it. (original abstract)
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Bibliografia
Pokaż
  1. Astrachan, J.H., Klein, S.B., & Smyrnios, K.X. (2006). The F-PEC Scale of Family Influence: a Proposal for Solving the family business definition problem. In: Poutziouris P. Z., Smyrnios K. X., Klein S. B (Eds), Handbook of Research on Family Business. Cheltenham: Edward Elgar, 167-179.
  2. August Storck KG. (2019). Our History. Retrieved from: https://www.storck.com/index.php?id=116&L=1/. Access: 27.02.2019.
  3. August Storck KG. (2019). Working for Storck. Retrieved from: https://www.storck.com/en/career/working-for-storck/. Access date: 27.03.2019.
  4. Beal, B. D. (2014). Corporate Social Responsibility: Definition, Core Issues, and Recent Developments. Thousand Oaks: SAGE Publications, Inc.
  5. Bingham, J.B., Gibb Dryer, W., Smith, I., & Adams G.L. (2011). A Stakeholders Identity Orientation Approach to Corporate Social Performance in Family Firms. Journal of Business Ethics, 99(4), 565-585.
  6. Chmura, J. (2016). The Impact of Positive Organisational Culture Values on Information Security Management in the Company. Journal of Positive Management, 7(1), 87-98.
  7. Denison, D., Lief, C., & Ward J. L. (2004). Culture in Family-Owned Enterprises: Recognizing and Leveraging Unique Strengths. Family Business Review, 17(1), 61-70.
  8. Guiso, L., Sapienza, P., & Zingales, L. (2015). The value of corporate culture. Journal of Financial Economics, 117(1), pp. 60-76. Retrieved from: doi: https://doi.org/10.1016/j.jfineco.2014.05.010.
  9. Hall, A., Melin, L., & Nordqvist, M. (2001). Entrepreneurship as Radical Change in the Family Business: Exploring the Role of Cultural Patterns. Family Business Review, 14, 193-208. Retrieved from: https://doi.org/10.1111/j.1741-6248.2001.00193.x.
  10. Hofstede, G. (1993). Interkulturelle Zusammenarbeit Kulturen, Organisationen, Management. Wiesbaden: Gabler.
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  12. Murphy, S., & Mowry, M. J. (2017). Creating a Value-Driven Company Culture. Business NH Magazine, 34(9), 66-68. Retrieved from: http://search-1ebscohost-1com-18znubvg310cd.hansolo.bg.ug.edu.pl/login.aspx?direct=true&db=f5h&AN=125222684&lang=pl&site=ehost-live. Access: 27.02.2019.
  13. Panwar, R., Paul, K., Nybakk, E., Hansen, E., & Thompson, D. (2014). The Legitimacy of CSR Actions of Publicly Traded Companies Versus Family-owned Companies. Journal of Business Ethics, 125(3), 481-496.
  14. Sievinen, H.M., Ikäheimonen, T., & Pihkala, T. (2019). Strategic renewal in mature family firms - A resource role of owners. Long Range Planning. Long range Planning, In Press - corrected proofs. Retrieved from: https://doi.org/10.1016/j.lrp.2019.01.001. Access: 01.03.2019.
  15. Sims, R. R. (2003). Ethics and Corporate Social Responsibility. Why Giants Fall. Westport: Praeger Publishers.
  16. Vantrappen, H., & de Jong, R. (2018). How to write a company value statement that will achieve strategic impact. Strategy & Leadership, 46(2), 41-47.
  17. Ward, J. L. (2011). Keeping the Family Business Healthy. How to plan for Continuing Growth, Profitability, and Family Leadership. New York: Palgrave Macmillan.
  18. Witt, P. (2003). Corporate Governance - Systeme im Wettbewerb. Wiesbaden: Springer Fachmedien Wiesbaden GmbH.
  19. Zellweger, T. (2017). Managing the Family Business Theory and Practice. Cheltenham: Edward Elgar Publishing Limited.
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ISSN
2080-0150
Język
eng
URI / DOI
http://dx.doi.org/10.2478/joim-2019-0001
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