Multi-Generation Small Business Response to the Recent Financial Crisis
Notice bibliographique
Résumé
IntroductionSmall business represents a major sector of the Canadian economy. In 2008, this sector, which employs 48% (5 million employees) of the total work force, contributed 30% of Canada's gross domestic product (GDP) (Industry Canada, 2008). Further, this report showed that during an exceptionally good economic period from 1997 to 2003, an average of 125,000 businesses failed annually. From a long term perspective, the same report determined that only 25% of businesses remain in operation after 9 years. This finding is similar to that reported by Zontanos and Anderson (2004) who found that over two thirds of businesses close within the decade they open. From an even longer perspective, very few businesses continue on to subsequent generations of ownership. Cater et al (2006) determined that 30% of businesses are passed to the second generation; 12% to the third generation; and 4% to the fourth generation.This investigation represents a follow-up to an earlier research project which identified aspects of multi-generation businesses (Hunter and Kazakoff, 2008). The earlier investigation delved into detail regarding the factors that have allowed some businesses to continue for more than one generation. It documented the comments of family representatives regarding their interpretation of the experiences of their intergenerational Relative to businesses in general, multi-generation businesses here are considered to be because of their longevity. Further, due to the very nature that they are successful from a multigeneration perspective, they are also a family While some family businesses may be quite large, the focus for this research is on the business.The recent financial crisis spanned the period of mid-2008 to late-2009, and was characterized by a sharp economic downturn, world-wide financial markets collapse, and significant job losses. The goal of this project was to identify the aspects related to how multigeneration businesses reacted to the recent financial crisis. Multi-generation businesses are considered successful mainly because of their long term survival beyond the normal tenure of a The project thus provides lessons for all businesses regarding responses to the recent financial crisis. The lessons learned will serve to contribute to reducing the large number of business failures as shown in the above statistics.The next section provides the context for this investigation via a review of the existing literature, focusing mainly on multi-generation Then the details of the specific project are presented. Findings are reported based upon the identified major themes. The subsequent discussion is organized by theme categories and incorporates further comments made by the research participants. In the Conclusion section responses to the research questions are offered.Literature ReviewA review of the available literature fails to reveal significant investigations into multigeneration De Geus (2002) has investigated long lived large businesses. Interestingly, among other findings, he determined that the average life span for firms of any size is 12.5 years.Small businesses are different from big businesses, according to Stevenson (1999) who suggests that in a business there is a focus on the near term, with an emphasis on allocating relatively scarce resources only to what are considered top priority activities. The scarce resources concept is elaborated by Thong et al (1994) via the term resource poverty. This term suggests that business, relative to large business, lacks both financial and human resources, which in turn affects how business is conducted.There exist many definitions for a small business. Because a business is a privately held entity, and thus is not required to publically report performance information, annual revenue or size of investment may not be used as a definition. …
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Prédiction distillée sur la base complète
Imitation des enseignantsNi prévalence calibrée, ni vérité terrain. Validation humaine à venir. Apprise à partir de 10 348 étiquettes directes de Codex et de 10 348 étiquettes directes de Gemma. Le mode candidate est l'union des têtes enseignantes seuillées; le consensus est leur intersection. Ces sorties portent le statut machine_predicted_unvalidated et ne sont ni des étiquettes humaines ni des étiquettes directes de modèles de pointe.
Scores Codex et Gemma par catégorie
| Catégorie | Codex | Gemma |
|---|---|---|
| Métarecherche | 0,002 | 0,000 |
| Méta-épidémiologie (sens strict) | 0,000 | 0,000 |
| Méta-épidémiologie (sens large) | 0,000 | 0,000 |
| Bibliométrie | 0,000 | 0,001 |
| Études des sciences et des technologies | 0,000 | 0,000 |
| Communication savante | 0,000 | 0,001 |
| Science ouverte | 0,000 | 0,000 |
| Intégrité de la recherche | 0,000 | 0,000 |
| Charge utile insuffisante (le modèle a refusé de juger) | 0,000 | 0,000 |
Scores machine (provisoires)
Les deux têtes enseignantes du modèle étudiant, lues sur ce travail. Un score ordonne la base pour la relecture; il n'affirme jamais une catégorie, et le statut de validation accompagne chaque rangée tel quel.
Scores de référence d'un modèle non mature (critères de maturité non atteints, 7 itérations). Un score ordonne; il n'affirme jamais une catégorie.
score_only:v0-immature-baseline · tel quel depuis la passe de notation : score_only signifie que le nombre peut ordonner les travaux, et qu'aucune étiquette de catégorie n'en découleClassification
machine, non validéePrédiction automatique; un appel candidat d’une seule tête enseignante, pas un consensus.
Le détail, modèle par modèle et score par score, se trouve en fin de page sous « Comment cette classification a été obtenue ».