According to Lea (1998) one definition of a family business says that the family business is a venture which is undertaken for family needs; it builds on the family's abilities; it is a family hand and mind work; it is guided by... more
According to Lea (1998) one definition of a family business says that the family business is a venture which is undertaken for family needs; it builds on the family's abilities; it is a family hand and mind work; it is guided by ethical and spiritual values of the family; it is characterized by a family's long-term commitment, and the succession of family business depends on the heritage of the children as the value of family name. According to these criteria and the quantifiable conditions of family businesses the authors regard the Dudits Hotels Ltd as a typical family business and the authors show this hotel's case as a case study. As a theoretical starting point they referred to the system theory and resource-based approaches of a family business, to the literature milestones of familiness and to the domestic and international empirical preceding topics of family businesses succession. Based on this theoretical background, this study analyses the manifestations of th...
