Lorna Collins, Ken McCracken, Barbara Murray and Martin Stepek
This paper is the first in a regular series of articles in JFBM that will share “a conversation with” thought leaders who are active in the family business space. The world of…
Abstract
Purpose
This paper is the first in a regular series of articles in JFBM that will share “a conversation with” thought leaders who are active in the family business space. The world of family business is, like many other arenas, constantly evolving and as the authors learn more about how and why families “do business” the approaches and tools for working with them also evolve. The purpose of this paper is to stimulate further new research in areas that practically affect family businesses and to “open the door” to practical insights that will excite researchers and provide impetus for new and exciting study. The specific purpose of this paper is to explore “what is strong governance.” There has been much interest in governance lately yet there is a tendency to treat governance in a formulaic way such that, at the moment, the notion that every family business must have a family council or a formal structure in order to be considered “effective” and “successful” predominates. The authors’ panel challenges and discusses this notion drawing on the experience and knowledge as family business advisors, consultants and owners.
Design/methodology/approach
The impetus for this particular conversation is a result of a brainstorming conversation that Lorna Collins and Barbara Murray held in February 2014 where they focussed on “how JFBM can encourage and stimulate researchers to engage in aspects of research that makes a difference to the family business in a practical way.” This paper reports a conversation between Barbara Murray (Barbara), Ken McCracken (Ken) and Martin Stepek (Martin), three leading lights in the UK family business advising space, all of whom have been involved in running or advising family businesses for more than three decades, held in August 2015. The conversation was held via telephone and lasted just over 60 minutes. Lorna Collins acted as moderator.
Findings
Strong governance is not just about instituting a “family council” or embedding formal governance mechanisms in a family business. Evolutionary adaption by family members usually prevails such that any mechanism is changed and adapted over time to suit and fit the needs of the family business. Many successful family businesses do not have recognized “formal” governance mechanisms but, it is contended, they are still highly successful and effective. Future areas of research in governance are also suggested.
Originality/value
This paper contributes to the family business discourse because the debate it reports challenges the basic assumptions upon which much consulting and advisory practice is conducted. It also challenges the notion of “best practice” and what is “new best practice” and how is it that any “best practice” is determined to be “best.” Furthermore, the panel provides insights in to the “impact of family dynamics on governance” and “the impact of family dynamics on advisors.” The paper content is original in that it provides an authentic and timely narrative between active family business practitioners who are also scholars and owners.
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Lorna Collins, Barbara Murray and Ken McCracken
This paper is a conversation piece which highlights the ways in which succession planning in large company might be handled. The discussion focuses on Christopher Oughtred the…
Abstract
Purpose
This paper is a conversation piece which highlights the ways in which succession planning in large company might be handled. The discussion focuses on Christopher Oughtred the former Chairman of William Jackson Food Group, one of the largest family businesses in the UK. The paper aims to discuss these issues.
Design/methodology/approach
This paper presents a conversation with a panel of leading family business experts and a family business owner. The paper presents latest thoughts on family business research, insights into a real family business succession project and reflections from a former Chairman on the succession process.
Findings
Findings highlight possible stages and requirements of a successful transition and succession plan. Also suggestions for areas of further research are presented.
Originality/value
The conversation recorded in this paper represents a rare opportunity to obtain reflections and insights on a succession process and how it was managed in a large family business. The conversation also highlights the kinds of challenges often experienced by family businesses during transition and succession. As a case study this is an exemplar of how succession might be planned.
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Library‐world “languages of description” are increasingly being expressed using the resource description framework (RDF) for compatibility with linked data approaches. This…
Abstract
Purpose
Library‐world “languages of description” are increasingly being expressed using the resource description framework (RDF) for compatibility with linked data approaches. This article aims to look at how issues around the Dublin Core, a small “metadata element set,” exemplify issues that must be resolved in order to ensure that library data meet traditional standards for quality and consistency while remaining broadly interoperable with other data sources in the linked data environment.
Design/methodology/approach
The article focuses on how the Dublin Core – originally seen, in traditional terms, as a simple record format – came increasingly to be seen as an RDF vocabulary for use in metadata based on a “statement” model, and how new approaches to metadata evolved to bridge the gap between these models.
Findings
The translation of library standards into RDF involves the separation of languages of description, per se, from the specific data formats into which they have for so long been embedded. When defined with “minimal ontological commitment,” languages of description lend themselves to the sort of adaptation that is inevitably a part of any human linguistic activity. With description set profiles, the quality and consistency of data traditionally required for sharing records among libraries can be ensured by placing precise constraints on the content of data records – without compromising the interoperability of the underlying vocabularies in the wider linked data context.
Practical implications
In today's environment, library data must continue to meet high standards of consistency and quality, yet it must be possible to link or merge the data with sources that follow other standards. Placing constraints on the data created, more than on the underlying vocabularies, allows both requirements to be met.
Originality/value
This paper examines how issues around the Dublin Core exemplify issues that must be resolved to ensure library data meet quality and consistency standards while remaining interoperable with other data sources.
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The Arts Council has joined forces with England's 12 Regional Arts Associations to publish A Policy for Theatre for Young People which seeks to build on the innovative work…
Abstract
The Arts Council has joined forces with England's 12 Regional Arts Associations to publish A Policy for Theatre for Young People which seeks to build on the innovative work already provided by many companies in this field, and aims to make high‐quality theatre available and accessible to young people throughout the country.
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Goffman’s (1961) work on total institutions has been relatively neglected in the fields of organizational research. This paper compares the conceptions of obedience to authority…
Abstract
Goffman’s (1961) work on total institutions has been relatively neglected in the fields of organizational research. This paper compares the conceptions of obedience to authority in two different types of voluntary total institutions and how such conceptions affect interaction contrary to the aims of the organizations. Consequently, by addressing how conceptions of authority and constructions of the obedient self shape conditions for underlife, the analysis provides knowledge about the variety of ways in which total institutional authority works and contributes to the understanding of the mechanisms of organizational underlife.
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C.W. HANSON and PATRICIA TILBURY
To what extent do special librarians and information workers read the literature of their own profession? What use do they make of it? Which journals do they read? Which books do…
Examines the relevance of the ISO 9000 standard within the health care, local government and education and training services sectors, as well as looking at the benefits of its…
Abstract
Examines the relevance of the ISO 9000 standard within the health care, local government and education and training services sectors, as well as looking at the benefits of its implementation. Explains that organizations should be clear about what they expect from ISO 9000 beforehand and presents a list of dos and don′ts when implementing ISO 9000. Concludes that by concentrating on the feedback loop part of the standard and using a common sense approach to quality, most of ISO 9000 will fall into place.
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Harjeet S. Bhabra, Ashrafee Tanvir Hossain and Vidyoot Roy Karmakar
The purpose of this paper is to examine existing literature, including both academic and practitioner publications, related to Canadian SOX (or C-SOX as it is popularly known)…
Abstract
Purpose
The purpose of this paper is to examine existing literature, including both academic and practitioner publications, related to Canadian SOX (or C-SOX as it is popularly known). The study discusses the origins of the Act, the underlying motivations for enacting this legislation in Canada and its impact on corporate decisions since its inception in 2003.
Design/methodology/approach
The principal focus of this literature review is on C-SOX, its inception, reception, compliance and impact in Canada, both from business’ and investors’ critical perspectives. The authors have followed a two-step process to gather all the articles. First, the authors used a keyword search at Google Scholar and ProQuest (e.g. C-SOX, Canadian SOX, Bill 198, etc.) to gather all the articles. Second, the authors retained articles and abstracts that primarily dealt with the background framework and impact of the legislation. It is to be noted that C-SOX was mainly a reactionary legislation following the adoption of US-SOX in 2002. Any discussion of C-SOX is, therefore, incomplete without referencing the literature related to US-SOX.
Findings
In this review paper the evolution of C-SOX over time in Canada, as well as studies on its impacts and criticisms have been summarized. Based on the extensive research that followed the enactment of US-SOX, the authors also provide suggested research directions related to C-SOX in the future.
Research limitations/implications
C-SOX has been relatively underexplored and therefore, not much academic work is available presently. This study highlights this gap in the literature with the hope that researchers will devote their energy to understanding the broader ramifications of major legislations such as C-SOX which will potentially also inform future public policy choices.
Practical implications
This research will help both businesses and investors to understand each other’s perspectives and concerns regarding C-SOX. This paper will also be helpful to policy makers to identify potential areas of improvement in this and future legislative decisions in the future.
Originality/value
Using a qualitative approach this study combines the development of C-SOX as a legislation in Canada, its overall effectivity/drawbacks and explores the areas it impacts, both positively and negatively, along with criticisms and appreciations.