Factors leading to work passion for successors in SMEs family business
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2016
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2559
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eng
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209 leaves
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b194258
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
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National Institute of Development Administration. Library and Information Center
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Nattaporn Virunhagarun (2016). Factors leading to work passion for successors in SMEs family business. Retrieved from: https://repository.nida.ac.th/handle/662723737/5361.
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Factors leading to work passion for successors in SMEs family business
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Abstract
In the face of intense competition and rapidly changing market requirements,
business must confront economic uncertainty, environmental risk, social change and
other volatile forces. To execute successfully in this difficult environment, company
must embrace a new way of thinking, one that makes human capital the centerpiece of
their business strategy. Dynamic change demands robust human capital that is fully
engage and agile, aggressively developed and skillfully deployed. Previous research
suggested that work passion energizes motivation and inspires individuals to persist
through the trials and tribulations associated with accomplishing difficult tasks.
Being passionate generates energy, determination underlying the persistent
involvement that make individual fully dedicate to an activity
The purpose of this research is to examine firstly, what is work passion for successors in SMEs family businesses and how it contributes to entrepreneurial success and secondly, uncover the factors that lead to work passion for successors in SMEs family businesses so as to understand where it comes from. This research employed both qualitative and quantitative methods to obtain richer and more complete explanation in understanding work passion for successors to strive for their family business.
To explain what is work passion for successors to strive for their family business, an insight interviews were employed involving 12 interviewees from 5 companies across different industries. To find factors leading to work passion, surveys employed involving 400 participants from both successors and other family business members. The participants were selected based on purposive and convenience sampling. The majority of participants were the successors that derived from Thai-Chinese Chamber of Commerce (TCCC) and from snowball sampling technique.
In finding the meaning of work passion for successors in SMEs family businesses, participants described their work passion variously, however, all seem to perceived work passion as an important element for their businesses’ success. They viewed work passion as distinct feelings, which create powerful energy that enable them to take action in their ventures. The major themes that described work passion were presented in the aspect of affective (contentment, anxiety, excitement), cognitive (concentration on developing family business, concern for both family and business), and behavioral or intent (nurturing family business, peak performance, performance to prove ability, entrepreneurial action) dimensions. The findings suggested that work passion came from successors’ internal force that provoked by the stimuli that they find it important. Then their logical cognitive component made an assessment involved opportunity evaluation and their venture growth so as to improve the whole organization. Passionate successors performed in a productive manner to create values and benefits to both family and business. Successors also showed their determinant and persistence performance in order to maintain and sustain their family legacy through time.
The results from quantitative part of the study set out to find factors leading to work passion for successors to strive for their family businesses. The quantitative part employed variable relationships, and also analyzed correlation and multivariate general linear model (GLM) analysis to address research question. There were significant, and partially significant results from the analysis. Meaningful work and task variety were significant to all components of work passion. Organization endorsement was the dimension that was most affected by eight independent variables (collaboration, procedural justice, meaningful work, autonomy, feedback, workload balance, task variety, and quality of relationship). While absorption and striving for excellence was the dimension that was least affected by only four variables (performance expectation, meaningful work, feedback, and task variety)
The implications of this study were to provide guidelines with useful recommendations and best practices for the development and preparation of successors in SMEs family businesses. For future research, it is important to consider the limitations of this study such as data generalization and self-reported problem carefully
The purpose of this research is to examine firstly, what is work passion for successors in SMEs family businesses and how it contributes to entrepreneurial success and secondly, uncover the factors that lead to work passion for successors in SMEs family businesses so as to understand where it comes from. This research employed both qualitative and quantitative methods to obtain richer and more complete explanation in understanding work passion for successors to strive for their family business.
To explain what is work passion for successors to strive for their family business, an insight interviews were employed involving 12 interviewees from 5 companies across different industries. To find factors leading to work passion, surveys employed involving 400 participants from both successors and other family business members. The participants were selected based on purposive and convenience sampling. The majority of participants were the successors that derived from Thai-Chinese Chamber of Commerce (TCCC) and from snowball sampling technique.
In finding the meaning of work passion for successors in SMEs family businesses, participants described their work passion variously, however, all seem to perceived work passion as an important element for their businesses’ success. They viewed work passion as distinct feelings, which create powerful energy that enable them to take action in their ventures. The major themes that described work passion were presented in the aspect of affective (contentment, anxiety, excitement), cognitive (concentration on developing family business, concern for both family and business), and behavioral or intent (nurturing family business, peak performance, performance to prove ability, entrepreneurial action) dimensions. The findings suggested that work passion came from successors’ internal force that provoked by the stimuli that they find it important. Then their logical cognitive component made an assessment involved opportunity evaluation and their venture growth so as to improve the whole organization. Passionate successors performed in a productive manner to create values and benefits to both family and business. Successors also showed their determinant and persistence performance in order to maintain and sustain their family legacy through time.
The results from quantitative part of the study set out to find factors leading to work passion for successors to strive for their family businesses. The quantitative part employed variable relationships, and also analyzed correlation and multivariate general linear model (GLM) analysis to address research question. There were significant, and partially significant results from the analysis. Meaningful work and task variety were significant to all components of work passion. Organization endorsement was the dimension that was most affected by eight independent variables (collaboration, procedural justice, meaningful work, autonomy, feedback, workload balance, task variety, and quality of relationship). While absorption and striving for excellence was the dimension that was least affected by only four variables (performance expectation, meaningful work, feedback, and task variety)
The implications of this study were to provide guidelines with useful recommendations and best practices for the development and preparation of successors in SMEs family businesses. For future research, it is important to consider the limitations of this study such as data generalization and self-reported problem carefully
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Thesis (Ph.D. (Human Resource and Organization Development))--National Institute of Development Administration, 2016
