Frank Hoy
Worcester Polytechnic Institute, Business, Faculty Member
- Retired entrepreneurship, family business and franchising professor.edit
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The study of family business involves the interrelationships of owners, managers and employees, and family members, all functioning within broader cultural, legal, competitive, and other environments. Foundational disciplines for... more
The study of family business involves the interrelationships of owners, managers and employees, and family members, all functioning within broader cultural, legal, competitive, and other environments. Foundational disciplines for investigating family business management practices include anthropology, economics, family studies, history, psychology, and sociology. Additional contributing fields include agriculture, various business disciplines, early-childhood education, family behavior, and others. Early contributions to the family business literature came predominantly from biographies and autobiographies of family business owners and from consultants to families in business who shared their observations and advice from their experiences. With the introduction of the journal Family Business Review, the subsequent launch of other journals addressing the subject, and the initiation of academic conferences on family business research, the knowledge base of the field has expanded rapidly. The domain of managing family business encompasses the dynamics of families that exercise control over enterprises and the performance of those companies. The notion of management includes both the business and the family, separate and together. Major themes addressed in the family business literature are succession, governance, and financial and wealth management. With increased research contributions from scholars in diverse fields, there has been an expansion of topics being covered. In this article, the focus is on the state of knowledge regarding the management of the family firm. The materials cited in this article introduce scholars to seminal contributions to the management of family business literature and to books and journal articles that are expected to influence forthcoming streams of research.
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This chapter seeks to identify contributions that led to major research themes that are fundamental in the family business body of knowledge. We found significant influences not only from academic scholars but also practitioners,... more
This chapter seeks to identify contributions that led to major research themes that are fundamental in the family business body of knowledge. We found significant influences not only from academic scholars but also practitioners, especially in the early stages of the development of the field. This chapter documents the origins of research streams that dominate family business scholarship as measured by citation count. Following our categorization of topics, we propose directions for future research that may build on the seminal works.
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Traditional doctoral degree programs in engineering are generally good at teaching “Linear Thinking,” that is the ability to apply existing knowledge to achieve important, but predictable, outcomes (as defined by Stauffer (2005)).... more
Traditional doctoral degree programs in engineering are generally good at teaching “Linear Thinking,” that is the ability to apply existing knowledge to achieve important, but predictable, outcomes (as defined by Stauffer (2005)). However, with few exceptions, the US engineering educational system falls short in enabling the vital attributes of innovation: adaptability, inventiveness, and the confidence to propose new paradigms.Copyright © 2013 by ASME
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Part 1 Models of sustainability: exactly what are we trying to sustain?, Daniel S. Fogel applying the American SBDC model to Central Europe, Frank Hoy a game plan for sustainability - proven strategies for Central European management... more
Part 1 Models of sustainability: exactly what are we trying to sustain?, Daniel S. Fogel applying the American SBDC model to Central Europe, Frank Hoy a game plan for sustainability - proven strategies for Central European management development centres, Robert W. Pricer and Ralph Blackman a preliminary view of the World Bank Micro-Enterprise Project in Poland, M. Catherine Ashmore and Piotr Korynski sustainability of a small business support centre - what it takes, Donald L. Pressley. Part 2 Surveys of small business activity: small businesses and the SBDC in the Czech Republic, Miroslav Foret and Michael Dolezal small business development in Bulgaria, Mitko Dimitrov and Kiril Todorov. Part 3 Case studies on SBDCs: Gdynia SBDC - operations in 1994, Przemyslaw Kulawczuk moving to sustainability in Lodz, Izabela Firkowska Warsaw SBAC - activities in 1994, Andrzej Stasiek case studies from the Debrecen SBDC, Istvan Bogyo list of attendees at the Conference on Moving to Sustainability.
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Firms seeking to enter international markets have increasingly opted for cooperative relationships with business partners as a mode of easing and promoting market entry. This study examines the expansion of two small/medium-sized... more
Firms seeking to enter international markets have increasingly opted for cooperative relationships with business partners as a mode of easing and promoting market entry. This study examines the expansion of two small/medium-sized enterprises (SMEs), organizations with· 30 to 500 employees, in the U.S. and in Mexico. The study compares and contrasts the nearly simultaneous expansion of a U.S.-based franchisor into Mexico and that of a Mexican firm into the U.S. In addition to its implications regarding strategic alliance as an international entry mode for SMEs, this study also contributes toward the quest for longitudinal theory building. Given that this was the first international expansion for both principal entities, a major outcome of the study is documentation of the importance of both partnership and planning for successful international activities.
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... Employee development programs: An organizational approach. Post a Comment. CONTRIBUTORS: Author: Vaught, Bobby C. Author: Hoy, Frank. Author: Buchanan, W. Wray. PUBLISHER: Quorum Books (Westport, Conn.). SERIES TITLE: YEAR: 1985. ...
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Few words have come to symbolize the decline of American competitiveness as much as" quality." In a recent survey, executives ranked the improvement of service and product quality as the most critical challenge... more
Few words have come to symbolize the decline of American competitiveness as much as" quality." In a recent survey, executives ranked the improvement of service and product quality as the most critical challenge facing US business (Zeithaml, Parasuraman, and ...
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ABSTRACT The relevance of scholarly research has often been questioned both in and outside academia. Some researchers have demonstrated empirically that published entrepreneurship research studies do not correspond with the concerns of... more
ABSTRACT The relevance of scholarly research has often been questioned both in and outside academia. Some researchers have demonstrated empirically that published entrepreneurship research studies do not correspond with the concerns of business owners. The study described in this paper was initiated by a very public debate regarding the access that small business owners have to capital in one urban community. The investigation examined the reality of capital access versus the perception. One aspect of the study focused on the importance of capital access to the small business sector. Results indicated that a minority of firms had problems obtaining capital and that the respondents ranked other issues as more important, with taxes at the top of the list. THE QUESTION OF RELEVANCE The Academy of Management was founded over sixty years ago, providing a forum for those dedicated to the study of management theory and practice to exchange views for the advancement of their field. Despite thousands of research investigations, millions of words printed in management textbooks, and the occasional trade bestseller by a university-based scholar, there are critics who question whether the practice of management has actually improved over the decades. If managers were asked to list the breakthrough concepts that management professors have contributed, how many could they name. In the speech by the president of the Academy at the annual meeting, there is typically some expression of concern about whether or not the work being produced is making a difference. Entrepreneurship is a younger discipline, but the same concern is raised. One of the earliest compendiums of the research to date (Kent, Sexton & Vesper, 1982) called for scholars to concentrate on research that could impact public policy toward venture creation. Subsequent empirical investigations, however, concluded that few published studies could be categorized as applicable to the foremost concerns of business owners (Brockhaus, 1987; Hoy, 1997). Brockhaus proposed using the top issues emerging from the 1986 White House Conference on Small Business as representative of topics relevant to small business owners generally, given that the delegates to the conference were elected by their peers at regional conferences. The delegates identified eleven issues as the major concerns of small business owners in the United States. Brockhaus compared those with the articles published in three entrepreneurship/small business academic journals and with papers presented at three small business/entrepreneurship classes over the prior three years. He found only three articles and three papers to be directly convergent with the eleven topics. Nearly a decade later, Hoy replicated Brockhaus' study. He observed that four priorities were selected by delegates to the 1995 White House Conference on Small Business: tax relief, regulatory relief, access to capital, and access to information. He used the same three domestic journals, substituted the Academy of Management's Entrepreneurship Division for the Small Business Director's Institute but retained the other two conferences, and added three foreign-based journals for an international comparison. Hoy found seven directly convergent articles in the domestic journals, six of which addressed capital access. Among the international journals, eleven articles were classified as convergent. There were twenty-nine directly convergent papers published in the proceedings of the conferences over a three-year period. Thus, there is evidence that academics may be giving greater attention to relevant topics, though the frequency count is still relatively low in comparison to the number of studies published. The above counts are increased when including partial convergence. As mentioned above, access to capital was one of the top four priorities set by the attendees at the 1995 White House Conference. …
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... Thus, the attempt to "standardize a method for evaluating statewide SBDC programs," that Elstrott calls for has already begun. ... Questia School | About Us | Advertise with Us | Contact |... more
... Thus, the attempt to "standardize a method for evaluating statewide SBDC programs," that Elstrott calls for has already begun. ... Questia School | About Us | Advertise with Us | Contact | Tools for Webmasters | Requirements | FREE BOOKS | Questia Library for iPhone/iPod Touch ...
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... by Patricia L. Smith , Frank Hoy. ... The Job Perception Survey (JPS) (Hatfield, Robinson, and Huseman 1985), a 21-item semantic differential instrument, was used to assess individual satisfaction with five dimensions of jobs (work,... more
... by Patricia L. Smith , Frank Hoy. ... The Job Perception Survey (JPS) (Hatfield, Robinson, and Huseman 1985), a 21-item semantic differential instrument, was used to assess individual satisfaction with five dimensions of jobs (work, pay, promotions, co-workers, and supervision). ...
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Government involvement in the private sector receives mixed reactions. Firms and trade associations lobby for government action perceived to be in their best interests, eg, trade barriers and price supports. But many business managers... more
Government involvement in the private sector receives mixed reactions. Firms and trade associations lobby for government action perceived to be in their best interests, eg, trade barriers and price supports. But many business managers criticize public sector interventions as being ...
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Although the Entrepreneurship Division of the Academy of Management includes family businesses within its domain statement, it is important to recognize that these are two distinct domains, although enjoying some overlap (cf. Stewart,... more
Although the Entrepreneurship Division of the Academy of Management includes family businesses within its domain statement, it is important to recognize that these are two distinct domains, although enjoying some overlap (cf. Stewart, 2008, for comparisons of family business with entrepreneurship and other domains). Both are comprehensive domains. They encompass the various functions of business administration: accounting, economics, finance, management, marketing, and so forth. And both extend beyond business administration departments. Entrepreneurship relates to the creation of intellectual property in science and engineering; it draws from sociology, psychology, and other liberal arts disciplines; and it extends into education programs as more kindergarten through high school programs incorporate exposure to free enterprise systems and venturing into their curricula.
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The basic premise upon which the Production/Operations Management discipline is built is that organizations desire to manage a set of limited resources such that certain inputs are transformed into desired outputs in the most efficient... more
The basic premise upon which the Production/Operations Management discipline is built is that organizations desire to manage a set of limited resources such that certain inputs are transformed into desired outputs in the most efficient and effective manner. This is true of any type or size organization: public or private, manufacturing or service, large or small. Yet, managers of small organizations may forego the use of Production/Operations Management (P/OM) techniques, sensing that the benefits to be derived from such techniques do not outweigh their costs. This article reports the results of a survey of P/OM practices in small firms and shows that there are needs small business managers have which can be satisfied through the use of cost-efficent P/OM techniques.
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Purpose The purpose of this paper is to provide an overview of family entrepreneurship and internationalization strategies by discussing the papers in this special journal issue. Design/methodology/approach The main research areas related... more
Purpose The purpose of this paper is to provide an overview of family entrepreneurship and internationalization strategies by discussing the papers in this special journal issue. Design/methodology/approach The main research areas related to family business are discussed in terms of socioemotional wealth and societal trends. A review of the literature is conducted to highlight the emerging themes affecting the decision of family businesses to internationalize. Findings The paper stresses how it is important to have an entrepreneurial approach to internationalization of family businesses. Research limitations/implications As more family businesses are born globals, it is important to focus on the positive aspects of internationalization, including emerging markets and gaining important entrepreneurial knowledge. Practical implications Family businesses need to be more innovative and risk-taking in their approach to internationalization as it helps them build their reputation and increase performance. Originality/value As there are limited studies about family entrepreneurship and internationalization in terms of a broad view of family, this paper takes an inclusive approach to the changing nature of how a family is defined in today’s global society.
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Several books examining family business published in the past 25 years may legitimately be labeled seminal. Some of our earliest exposures were through autobiographies and biographies of well-known families: the Rothschilds, DuPonts,... more
Several books examining family business published in the past 25 years may legitimately be labeled seminal. Some of our earliest exposures were through autobiographies and biographies of well-known families: the Rothschilds, DuPonts, Fords, and others. Consultants such as Léon Danco, Gerald Le Van, and David Bork wrote books describing their observations and recommendations, giving readers perspectives on the relationships between families and their enterprises. In 1987, John Ward was among the first to produce a guide for family firms that was derived from a research base. Keeping the Family Business Healthy: How to Plan for Continuing Growth, Profitability, and Family Leadership proved to be influential to both practitioners and scholars, being reissued and updated. As we track the evolution of the field, other authors have also been influential. Generation to Generation: Life Cycles of the Family Business by Kelin Gersick, John Davis, Marion McCollom Hampton, and Ivan Lansberg is one of the most important contributions from the 1990s, and Managing for the Long Run: Lessons in Competitive Advantage From Great Family Businesses by Danny Miller and Isabelle Le Breton-Miller helped direct researchers in new ways as we entered the 21st century. Each of these three books has been reviewed previously in Family Business Review (Aronoff, 1996; Guzzo, 1988; Sharma, 2005). In this anniversary issue, we take another look at these bodies of work and the roles they have played in advancing knowledge, including reflections by the authors. Ward and the 1980s
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... ing and evaluating responses to the following open-ended question: "What is the major problem you face in managing your business?" Usable responses ... as the relationships shown in... more
... ing and evaluating responses to the following open-ended question: "What is the major problem you face in managing your business?" Usable responses ... as the relationships shown in Table 2. However, 38 percent of the major problems identified by non-ST mana-gers were ...
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Family businesses represent the majority of companies and are an important source for the generation of jobs in most countries. Longevity is very important for the family businesses and for economies as a whole. Succession is one of the... more
Family businesses represent the majority of companies and are an important source for the generation of jobs in most countries. Longevity is very important for the family businesses and for economies as a whole. Succession is one of the most difficult decisions for the family business, and one of the most important. When business leadership transitions are not well structured they may cause expensive legal issues leading to the sale or eventual loss of the business. This chapter presents a review of some general, but very important issues, related to family businesses.
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FRANK HOY IS DEAN OF THE COLLEGE OF Business Administration at the University of Texas at El Paso, USA. As editor of Entrepreneurship: Theory and Practice, he has studied the entrepreneurship/ franchise interface. The United States... more
FRANK HOY IS DEAN OF THE COLLEGE OF Business Administration at the University of Texas at El Paso, USA. As editor of Entrepreneurship: Theory and Practice, he has studied the entrepreneurship/ franchise interface. The United States Congress and other legislative bodies have been enacting or considering laws regulating franchisor-franchisee relations. The various causes of legislative action suggest there is a dark side to franchising: problems between franchisors and franchisees that are often downplayed in the attention given to low failure rates and industry growth. A recently proposed theory of entrepreneurship may help explain the inevitability of conflict between the parties. In turn, the theory may suggest conflict resolution actions that may help solve the problems that arise.
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Chapter 1: Entrepreneurial family firms: Poached or Scrambled Eggs? PART A: ENTREPRENEURIAL FAMILY FIRMS: CYCLING THROUGH THE (ST)AGES OF LIFE Chapter 2: Individual life cycle (st)ages Chapter 3: Family life cycle stages Chapter 4:... more
Chapter 1: Entrepreneurial family firms: Poached or Scrambled Eggs? PART A: ENTREPRENEURIAL FAMILY FIRMS: CYCLING THROUGH THE (ST)AGES OF LIFE Chapter 2: Individual life cycle (st)ages Chapter 3: Family life cycle stages Chapter 4: Business life cycle stages Chapter 5: Product, Industry, Economic life cycle stages Chapter 6: Resources for starting and managing the family firm PART B: ENTREPRENEURSHIP THROUGH THE STAGES Chapter 7: Starting the venture: Over-extended, under capitalized Chapter 8: Growing, for better or worse Chapter 9: The maturing family venture Chapter 10: Decline - Degeneration or Regeneration? PART C: ENTREPRENEURIAL FAMILY FIRMS: SUCCESS THROUGH LIFE STAGES Chapter 11: Governance tool kit for Entrepreneurial Family Firms Chapter 12: Secret Recipes of Entrepreneurial Family Firms