MANAGING FAMILY BUSINESSES IN THE 21ST CENTURY - AGNIESZKA THIER

Discover the key aspects of managing family businesses in the dynamically changing socio-economic environment of the 21st century. This publication is an essential source of knowledge for owners, managers and anyone interested in the specifics of family businesses. Learn about the challenges and opportunities that come with running a business from generation to generation.

• Comprehensive analysis of the specifics of family businesses
• Practical tips for managers and owners
• Discussion of the challenges related to the fourth industrial revolution
• Analysis of trends in the development of family businesses
• Verification of previous assessments and identification of new trends
• Recommendations for entrepreneurs based on the latest research
• Definition of key features and functions of family businesses

Family businesses are the oldest and most common form of economic activity. Despite this, the history of their research is relatively short. Important publications on this subject appeared in the USA only in the 1970s, and large-scale studies of their functioning in the 1990s. In Poland, the first articles on this subject appeared a little later. Over the last decade, many works have been published in Poland on the management of family businesses and their role in the economy and society. Nevertheless, there are still significant discrepancies in the definition of family businesses and in the assessment of their share in employment and the creation of national income.

This publication aims not only to define the key features and functions of family businesses, but also to present the managerial challenges they currently face. The author analyzes the latest trends in the development of these companies resulting from the fourth industrial revolution, i.e. the information and digital revolution. In addition, it discusses the challenges related to the implementation of the Industry 4.0 concept and the predicted changes within the Industry and Society 5.0 idea. The book presents both typical, but changing, economic problems of enterprises, as well as lesser-known, specific issues related to the management of family businesses.