The Factors that Reflect Family Business Brand in The Perspective of Family Business Next Generation at Universitas Ciputra Family Business Community
Keywords:
: family business brand, family firm identity, family firm image, family firm reputation, next generation, family business
Abstract
This research in done to find out the factors that can reflect family business brand in the perspective of family business next generation. Research data collection is distributed as many as 135 respondents to the next generation of family companies that join seventh, eight, and ninth batch of Universitas Ciputra in which majority are those who have involved in family business. Sampling is done with non-probability sampling technique method and purposive sampling method. Data analysis method that is used Partial Least Square Structural Equation Modeling (SEM PLS) with the help of smartPLS 3.0 program. The results of the analysis in this research indicate that Family Business Brand can be reflected by the factors of Family Firm Identity, Family Firm Image, and Family Firm Reputation. Family Firm Identity factors consist of family influence, family goal value, company origin, name of family business / company, and overlapping family business value. The Family Firm Image factors consist of the description of family agreement, the channel or channel that is used, the behavior of members that reflect values, and the history of family business sacrifice. Family Firm Reputation factors consist of the company's leadership vision, workplace environment, and company financial performance. The results of data process show that the factors that reflect the Family Business Brand in the perspective of next generation are if it is sorted from the highest that is, family firm identity factor, family firm image factor, and family firm reputation factor.
Key words: family business brand, family firm identity, family firm image, family
firm reputation, next generation, family business
References
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of Corporate Reputation on Building Brand Equity: A Perspective of Multinationals FMCGS (Jun 2019) :45, Jurnal of Business Strategies; Karachi Vol.13, Iss. 1. DOI: 10.29270/JBS.13.1(2019).073
Albert, S., & Whetten, D. A. (1985). Organizational identity. Research in Organizational Behavior,
7, 263–295.
Albertha J. Wielsma, Olof Brunninge, “Who am I? Who are we?” Understanding
the impact of family business identity on the development of individual and family identity in business families, Journal of Family Business Strategy, Volume 10, Issue 1, 2019, Pages 38-48, ISSN 1877-8585,https://doi.org/10.1016/j.jfbs.2019.01.006.
Allan Cheng Chieh Lu, Dogan Gursoy, Carol Yirong Lu, Authenticity
perceptions, brand equity and brand choice intention: The case of ethnic restaurants, International Journal of Hospitality Management,
Volume 50, 2015, Pages 36-45, ISSN 0278-4319, https://doi.org/10.1016/j.ijhm.2015.07.008.
Andrea Santiago, Shweta Pandey, Ma. Theresa Manalac,Family presence, family
firm reputation and perceived financial performance: Empirical evidence from the Philippines, Journal of Family Business Strategy, Volume 10, Issue 1, 2019, Pages 49-56, ISSN 1877-8585, https://doi.org/10.1016/j.jfbs.2019.02.002.
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Definitions and the Main Challenges of the Business Life Cycle . Contributions to Management Science book series (MANAGEMENT SC.). https://doi.org/10.1007/978-3-030-47741-7_2
Astrachan, J.H, Klein, S.B., & Smyrnios, K.X. (2002) The F-PEC Scale of Family
Influence: A Proposal for Solving the Family Business Definition Problem, Family Business Review, Vol. 15, Issue. 1. https://doi.org/10.1111/j.1741-6248.2002.00045.
Alwadani, R. and Ndubisi, N.O. (2019), "Sustainable family business: The role of
stakeholder involvement, mindful organizing, and contingent human factors", International Journal of Manpower, Vol. 41 No. 7, pp. 945-965. https://doi.org/10.1108/IJM-08-2019-0359
Binz Astrachan, C. and Botero, I.C. (2018), "“We are a family firm”: An
exploration of the motives for communicating the family business brand", Journal of Family Business Management, Vol. 8 No. 1, pp. 2-21. https://doi.org/10.1108/JFBM-01-2017-0002
Binz Astrachan, Claudia & Botero, Isabel & Astrachan, Joseph & Prügl,
Reinhard. (2018). Branding the family firm: A review, integrative framework proposal, and research agenda. Journal of Family Business Strategy. 10.1016/j.jfbs.2018.01.002.
Brown, T. A. (2015). Confirmatory Factor Analysis for Applied Research (2nd
ed.). New York, NY: Guilford Publications.
Brown, T. J., Dacin, P. A., Pratt, M. G., & Whetten, D. A. (2006). Identity,
Intended Image, Construed Image, and Reputation: An Interdisciplinary Framework and Suggested Terminology. Journal of the Academy of Marketing Science, 34(2), 99–106. https://doi.org/10.1177/0092070305284969
Chang, A.A., Mubarik, M.S. and Naghavi, N. (2020), "Passing on the legacy:
exploring the dynamics of succession in family businesses in Pakistan", Journal of Family Business Management, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JFBM-10-2019-0065
Chin-Jung Luan, Ying-Yu Chen, Hsiu-Ying Huang, Kai-Shiuan Wang,
CEO succession decision in family businesses – A corporate governance perspective, Asia Pacific Management Review, Volume 23, Issue 2, 2018,
Pages 130-136, ISSN 1029-3132,
https://doi.org/10.1016/j.apmrv.2017.03.003.
Chizoba P. Nwanah, Bamidele S. Adeleke, Emmanuel K. Agbaeze, Does Task
Environment Moderates Organizational Performance? Evidence from the Nigerian Manufacturing Industry. International Journal of Mechanical Engineering and Technology 10(7), 2019, pp. 8-21.
Claudia Binz Astrachan, Isabel Botero, Joseph H. Astrachan, Reinhard Prügl,
Branding the family firm: A review, integrative framework proposal, and research agenda, Journal of Family Business Strategy, Volume 9, Issue 1, 2018, Pages 3-15, ISSN 1877-8585,
https://doi.org/10.1016/j.jfbs.2018.01.002.
Claudia Binz Astrachan, Reinhard Prügl, Joseph F. Hair, Barry J. Babin,
Marketing and branding in family business: Assessing the landscape and charting a path forward, Journal of Family Business Strategy,
Volume 10, Issue 1, 2019, Pages 3-7, ISSN 1877-8585,
https://doi.org/10.1016/j.jfbs.2019.02.003.
Claudia Binz, Joseph F. Hair, Torsten M. Pieper, Artur Baldauf, Exploring the effect of distinct family
firm reputation on consumers’ preferences, Journal of Family Business Strategy, Volume 4,
Issue 1, 2013,Pages 3-11, ISSN 1877-8585,https://doi.org/10.1016/j.jfbs.2012.12.004.
Creswell, J. W., & Creswell, J. D. (2017). Research Design: Qualitative,
Quantitative, and Mixed Methods Approaches. SAGE Publications. https://books.google.co.id/books?id=KGNADwAAQBA
Daniel Quaye, Isaac Mensah, (2018) "Marketing innovation and sustainable
competitive advantage of manufacturing SMEs in Ghana", Management Decision, https://doi.org/10.1108/MD-08-2017-0784
Davis, J. H., Allen, M. R., & Hayes, H. D. (2010). Is Blood Thicker Than Water?
A Study of Stewardship Perceptions in Family Business. Entrepreneurship Theory and Practice, 34(6), 1093–1116. https://doi.org/10.1111/j.1540-6520.2010.00415.x
Dedi, Rianto & Cakranegara, Pandu & Genoveva, Genoveva. (2018).
"Case Study of Recruitment and Selection of Employees in the Family Businesses of Tasikmalaya", International Journal of Family Business Practices, Vol. 1 Issue. 2 pp. 139-150.
Dias, M. and Junior, E.D. (2018), "Overcoming Succession Conflicts In A Limestone Family Business In Brazil", International Journal of Business and Management Review, Vol. 6, No. 7, pp 58-73.
Fendri, C. and Nguyen, P. (2019), "Secrets of succession: how one family
business reached the ninth generation", Journal of Business Strategy, Vol. 40 No. 5, pp. 12-20. https://doi.org/10.1108/JBS-08-2018-0130
Fotea S.L., Fotea I.Ş. (2020) Exploring the Family Identity as a Unique
Competitive Advantage to Family Businesses in Developing a Relationship Marketing Orientation. In: Fotea S., Fotea I., Văduva S. (eds) Challenges and Opportunities to Develop Organizations Through Creativity, Technology and Ethics. GSMAC 2019. Springer Proceedings in Business and Economics. Springer, Cham. https://doi.org/10.1007/978-3-030-43449-6_19
Ghozali, L., & Latan, H. (2015). Partial Least Squares, Teknik dan Aplikasi
Menggunakan Program SmartPLS 3.0. Semarang: Universitas Diponegoro.
Hair, J. F., Black, W., Babin, B. J., & Andreson, R. E. (2014). Multivariate Data
Analysis. England: British Library Cataloguing.
Hair, Joe & Sarstedt, Marko & Hopkins, Lucas & Kuppelwieser, Volker. (2014).
Partial Least Squares Structural Equation Modeling (PLS-SEM): An Emerging Tool for Business Research. European Business Review. 26. 106-121. DOI: 10.1108/EBR-10-2013-0128.
Ho, R. (2014). Handbook of Univariate and Multivariate Data Analysis with IBM
SPSS. New York: Chapman and Hall/CRC, https://doi.org/10.1201/b15605.
IFC and Indonesia’s Family Business Nusantara Foundation Help Family-Owned Enterprises Improve Corporate Governance. (2016, November 8). Retrieved from International Finance Corporation: https://ifcext.ifc.org/ifcext/pressroom
Isabel C. Botero, Claudia Binz Astrachan, Andrea Calabrò, (2018) "A receiver’s
approach to family business brands: Exploring individual associations with the term “family firm”", Journal of Family Business Management, https://doi.org/10.1108/JFBM-03-2017-001
Isabel C. Botero, Jill Thomas, Christopher Graves, Tomasz A. Fediuk
Understanding multiple family firm identities: An exploration of the communicated identity in official websites, Journal of Family Business Strategy, Volume 4, Issue 1,2013, Pages 12-21, ISSN 1877-8585, https://doi.org/10.1016/j.jfbs.2012.11.004.
Jeffrey A. Chandler, G. Tyge Payne, Curt Moore, Keith H. Brigham,
Family involvement signals in initial public offerings,
Journal of Family Business Strategy,Volume 10, Issue 1,2019,Pages 8-16,ISSN 1877-8585,https://doi.org/10.1016/j.jfbs.2019.01.004.
Josip Kotlar & James J. Chrisman (2019) Point: How Family Involvement
Influences Organizational Change, Journal of Change Management, 19:1, 26-36, DOI: "https://doi.org/10.1080/14697017.2017.1419804" 10.1080/14697017.2017.1419804 .
Justin B. Craig, Clay Dibrell & Peter S. Davis (2008) Leveraging Family‐Based
Brand Identity to Enhance Firm Competitiveness and Performance in Family Businesses*, Journal of Small Business Management, 46:3, 351-371, DOI: 10.1111/j.1540-627X.2008.00248.
Lailatus Sa'diya. (2017), Strategi Promosi di Media Sosial Instagram Terhadap
Kesadaran Merek di Era Generasi Z, Competence: Journal of Management Studies, Vol 11, No 2. DOI:https://doi.org/10.21107/kompetensi.v11i2.3530
Laurence Z. Rubenstein, Alan S. Robbins, Karen R. Josephson, Barbara L.
Schulman, et al. The Value of Assessing Falls in an Elderly Population: A Randomized Clinical Trial. Ann Intern Med. 1990;113:308-316. [Epub ahead of print 10 March 2020]. doi:10.7326/0003-4819-113-4-308
Leavy, P. (2017). Research Design: Quantitative, Qualitative, Mixed Methods,
Arts‐Based, and Community‐Based Participatory Research Approaches. New York, NY: The Guilford Press. ISBN 9781462514380. 300 pp.
Maximiliano González, Alexander Guzmán, Carlos Pombo, María-Andrea
Trujillo,Family firms and financial performance: The cost of growing,
Emerging Markets Review,Volume 13, Issue 4, 2012, Pages 626-649, ISSN 1566-0141, https://doi.org/10.1016/j.ememar.2012.09.003.
Miller, D., Le Breton‐Miller, I. and Lester, R.H. (2011), Family and Lone
Founder Ownership and Strategic Behaviour: Social Context, Identity, and Institutional Logics. Journal of Management Studies, 48: 1-25. https://doi.org/10.1111/j.1467-6486.2009.00896.x
Motoc, A. (2019). Family Business Image and Reputation. A Model of the
Influencing Factors, Actions, and Effects, Management Dynamics in the Knowledge Economy, 7(4), 503-519. doi:https://doi.org/10.25019/mdke/7.4.04
Next Generation Survey of Family Business Leaders. (2016, April). Retrieved
from Pricewaterhouse Coopers: https://www.pwc.com/nextgen.
Oriol Iglesias, Stefan Markovic, Josep Rialp, How does sensory brand experience
influence brand equity? Considering the roles of customer satisfaction, customer affective commitment, and employee empathy, Journal of Business Research, Volume 96, 2019, Pages 343-354, ISSN 0148-2963,
https://doi.org/10.1016/j.jbusres.2018.05.043.
Price Waterhouse Cooper Global Family Business Survey . (2014). Retrieved from Price Waterhouse Cooper: https://www.pwc.com/gx/en/pwc-family-business-survey/assets/family-business-survey-2014.pdf
Prigge, S., & Thiele, F. K. (2018). Corporate governance codes: How to deal with
the bright and dark sides of family influence. In The Palgrave Handbook of Heterogeneity among Family Firms (pp. 297–331). Palgrave Macmillan. https://doi.org/10.1007/978-3-319-77676-7_12
Sageder. M, Duller. C, & Mitter. C, Reputation of Family Frims From A
Customer Perspective, International Journal of Business Research, Vol. 15, No. 2, 2015. ISSN: 1555-1296.
Saim Kashmiri, Vijay Mahajan, What's in a name?: An analysis of the strategic
behavior of family firms, International Journal of Research in Marketing,
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Published
2021-03-24
How to Cite
Fayola, A. A., Padmalia, M., & Effendy, J. A. (2021). The Factors that Reflect Family Business Brand in The Perspective of Family Business Next Generation at Universitas Ciputra Family Business Community . Management and Sustainable Development Journal, 3(1), 22-46. https://doi.org/10.46229/msdj.v3i1.243
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