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Family businesses

About Family businesses

According to Acosta (2021), "around 70% of most family businesses last only one generation in Ecuador" (p. 88). This is complemented by the fact that, according to Sotomayor (2022), "80% of companies worldwide are family-owned, so the low survival rate has alarming consequences for the sustainability of the productive sector" (p. 1044). Under these premises, this essay focuses on one of the characteristics of family businesses: their long-term orientation (defined by its acronym LTO) to maintain control and transfer it to the following generations: creator (first generation), institutionalizer (second generation) and expansive (third generation); in contrast to the Ecuadorian case with its decline in recent years.

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  • Language:
  • English
  • ISBN:
  • 9786206083603
  • Binding:
  • Paperback
  • Pages:
  • 52
  • Published:
  • June 12, 2023
  • Dimensions:
  • 152x3x229 mm.
  • Weight:
  • 91 g.
Delivery: 1-2 weeks
Expected delivery: December 19, 2024
Extended return policy to January 30, 2025

Description of Family businesses

According to Acosta (2021), "around 70% of most family businesses last only one generation in Ecuador" (p. 88). This is complemented by the fact that, according to Sotomayor (2022), "80% of companies worldwide are family-owned, so the low survival rate has alarming consequences for the sustainability of the productive sector" (p. 1044). Under these premises, this essay focuses on one of the characteristics of family businesses: their long-term orientation (defined by its acronym LTO) to maintain control and transfer it to the following generations: creator (first generation), institutionalizer (second generation) and expansive (third generation); in contrast to the Ecuadorian case with its decline in recent years.

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