Innovation and Business Diversification for Family Business Continuity
Asian Family Business Case Studies
ISBN: 978-1-83753-761-7, eISBN: 978-1-83753-760-0
Publication date: 10 July 2024
Abstract
The case study focuses on succession planning in a family business in Indonesia. The case highlights the company's communication barrier and points to the need for proper on-the-job training for employees and regular performance reviews to ensure employees remain motivated and focused on the business. Although Sabrina's family can overcome all the challenges in the family business, they strengthen the relationship between family members and employees who are always motivated and committed to the success of the business. Nevertheless, the family business needs to ensure innovation and business diversification to keep up with market trends and achieve business continuity.
Keywords
Acknowledgements
Acknowledgements
The case illustrated is based on a real family firm located in Indonesia. To protect the privacy of the family involved in this case, we changed all names.
Citation
Yong, J.Y. and Federo Acosta, R. (2024), "Innovation and Business Diversification for Family Business Continuity", Feranita, F., Lin, W.L., Khong, K.W. and Goh, S.K. (Ed.) Asian Family Business Case Studies, Emerald Publishing Limited, Leeds, pp. 83-89. https://doi.org/10.1108/978-1-83753-760-020241009
Publisher
:Emerald Publishing Limited
Copyright © 2024 Jing Yi Yong and Ryan Federo Acosta. Published under exclusive licence by Emerald Publishing Limited