CHARACTERISTICS OF THE MANAGEMENT OF ROMANIAN SMALL AND MEDIUM SIZE FAMILY BUSINESSES. A QUALITATIVE RESEARCH

Razvan MUSCA, Nicolae BIBU, Madela Maria ABRUDAN, Diana SALA

Abstract


The purpose of this paper is to present the findings of a qualitative study about several characteristics of the management of Romanian small and medium sized family businesses. Several definitions of family business are presented, followed by a review of the specificities of managing a family business, discussing the contribution of family members in assuming various roles in the management and operations of the family business. The research method is qualitative and based on interviews with seven owners and managers of Romanian small and medium sized family businesses. Conclusions are formulated about the challenges and solutions to managing a family company and achieving success.

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