Browsing by Author "Yeboah, Richard"

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    Effects of internal characteristics of family business on family business performance in the Kumasi metropolis.
    (KNUST, 2017-03) Yeboah, Richard
    The study was to assess the internal characteristics of family business on performance in the Kumasi Metropolis. The characteristics that lead to family business performance include; Founder Influence, Succession Planning, Use of Outside Consultants, Advisors and Professional Services, Strategic Planning, Financial Management, Management Style, Capital Structure and Compensation Issues. A sample size of 200 respondents was used and they were selected using a purposive and non-probability sampling techniques. Questionnaires were the main data collection instrument used and the sources of data were from both primary and secondary sources. The qualitative data was coded and analyzed using MS Excel and Predictive Analytic Software (PASW) formerly Statistical Package for Social Scientist version 20 (SPSS). The study found that, the presence of non-family members among the company’s top management improves decision-making process significantly scoring a higher Mean of 4.59 and Standard Deviation of 0.49. The study again found that, the adoption of decentralization of decision-making in the company, positively affected the continuity of the company. Moreover, it was demonstrated that Founders affect succession plan positively and finally, Family businesses have more efficient allocation of resources than non-family businesses. However, there were both major and moderate challenges facing family business such that Government had no policies protecting family businesses scoring the highest Mean of 4.58 and Standard Deviation of 0.95. The study therefore recommended that Management of family businesses should adopt cost-effective procedures, prudent financial management practices and venture into profitable investment.