n Management Dynamics : Journal of the Southern African Institute for Management Scientists - Selected relational-based factors that impact on the successful functioning of copreneurial businesses : a proposed conceptual model
|Article Title||Selected relational-based factors that impact on the successful functioning of copreneurial businesses : a proposed conceptual model|
|© Publisher:||Southern African Institute for Management Scientists (SAIMS)|
|Journal||Management Dynamics : Journal of the Southern African Institute for Management Scientists|
|Author||Elmarie Venter, Shelley Farrington and Christo Boshoff|
|Publication Date||Jan 2009|
|Pages||2 - 21|
Worldwide, evidence suggests that the number of copreneurs (husbands and wives in business together) is on the increase, and that spousal partnerships are becoming a preferred entrepreneurial route for many. However, little research exists concerning these types of family businesses, and as a result little is known of the factors that influence their success. One of the main challenges facing husbands and wives in business together is to manage both their personal and professional relationships. Consequently, the primary objective of this study was to consolidate and integrate existing literature on relational-based factors influencing the successful functioning of copreneurial businesses, into a conceptual model. This conceptual model is then empirically tested among copreneurial businesses to investigate the relationships that exist between selected independent variables (Fairness Mutual respect and trust Open communication Spousal relationship Family harmony Commitment Non-family members and Balance between work and home) and the dependent variable (Perceived success of the copreneurial business).
In order to address the primary objective of this study, a questionnaire was administered to a sample of 1 548 respondents (spouses in business together). In the study, 380 questionnaires were usable for the statistical analysis of the data. An exploratory factor analysis was undertaken, and Cronbach-alpha coefficients were calculated to assess the discriminant validity and reliability of the measuring instrument. The relationships proposed in the conceptual model were assessed by means of multiple regression analysis.
The empirical results revealed that the following factors have a significant impact on the successful functioning of copreneurial businesses: the Spousal relationship, Non-family members, Commitment to the business, Emotional attachment to the business and Balance between home and work.
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