BO1BSRE301 Business Strategy: Family Business Article Review

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This document presents a critical review of the journal article "Managing Family Businesses in Small Communities" by Nancy J. Miller, Harriet McLeod, and Keun Young Oh. The review follows a structured template, examining the article's purpose, theoretical framework, methodology, data analysis, findings, and contribution to business strategy theories. The article analyzes the management of family businesses in small US communities, focusing on problems and strategies. The review highlights the study's methodology, which involves a household survey and analysis of the National Family Business Survey. It concludes by assessing the article's contribution to understanding business strategies for small businesses, particularly concerning planning and marketing.
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Business Strategy _Assessment 2_ Journal Article Review Template
Title of the Article Managing Family Businesses in small communities
Date of Publication/Volume and
Issue Date – 2001, Volume and issue – 39(1)
Author/s Names Nancy J. Miller, Harriet McLeod and Keun Young Ob
Purpose: What does the article
set
out to do? In other words what is
the objective of the author?
The article is based on the analysis of the operations of family businesses within the small communities. The main
objective of the authors in this case is to analyse the problems that are associated with the management of small
family business organizations. The findings are related to the businesses which are located in small communities
of the US.
Theory: Does the article use any
theoretical framework related to
Business Strategy? If yes, explain
the framework briefly. What are
the strengths and weakness of
the
framework?
The theoretical framework that has been used in the article is related to the analysis of the various management
related strategies. The internal aspects include, configuration of the organizations and the managerial and the
environmental characteristics. The article is not based on any particular framework which is related to the analysis
of data.
Methodology: What
methodology
have the authors used to collect
data?
Is the article cross cultural? If yes
The methodologies that were used for this study are related to the differences that occur among the strategies
applied in the various small family business organizations. The study was mainly based on a household survey
which was used to determine that the people in the houses owned the businesses or not.
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please explain why you think it is
cross cultural.
Data Analysis: How was the data
analysed? In other words what
statistical tools were used?
The data was collected by the authors by studying the National Family Business Survey of the year 1997. The
managers and the business owners who qualified for this survey were those whose business was at least one-year-
old and they have worked for a minimum of 312 hours. Around 14000 households were scanned in the process
with the help of telephonic interviews.
Findings and conclusion
What were the findings and
conclusion draw from the
article?
The various areas that were analysed in the study include, the profiles of the various family business participants,
the differences in their management strategies, the demographic differences, the problems that were perceived and
the sources of the assistance. The findings depict that all the activities related to functional management of an
organization were not analysed properly. The study also suggests that the management activities that are used for
planning purposes are not always perceived to be unique.
How did the article contribute to
the theories and concepts of
Business Strategy?
The article has contributed to the concepts and the theories that are used for the formation of business strategies.
The various types of strategies that are formulated for the small businesses have been analysed clearly in the
report.
Tips
You are to review any 5 out of the 7 articles provided in Moodle.
Word count is between 300-500 words for each article.
Use the template to review the article.
It is important you read the article first and get a thorough understanding of it.
Keep your English language simple and grammatically correct.
You need to critically evaluate the article using your opinion. You could use theories in
strategic management to write a critical analysis.
Good luck!!
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