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Proposed Strategy for Family Business Internal Management Professionalization Effort (Case Study: CV. Segara Luas Lestari)

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  • Muhammad Iqbal

    (Bandung Institute of Technology, Indonesia)

  • Alvanov Zpalanzani Mansoor

    (Bandung Institute of Technology, Indonesia)

Abstract

The family business is the most commonly ownership business model in the world and contribute significantly to the global economy with estimation more than 70% of GDP. However, this type of business is vulnerable in terms of longevity and sustainability. It is reported that only about 30% of family businesses are succeeded by 2nd generation, and 10% to the 3rd generation caused by succession transfer, family members’ personal issues, and internal conflicts that triggered unprofessionalism in the family business. This research aims to find a suitable strategy to shift management system of CV. SEGARA LUAS LESTARI, as a family business towards more professional management system. This is qualitative research that utilized unstructured-discrete interview and participant observation as well as literature studies. The data will be analyzed using PESTEL Analysis for external aspects, and 7s McKinsey Framework to acquire understanding in the company’s internal aspects that could inhibit the shifting of professionalization company’s management.

Suggested Citation

  • Muhammad Iqbal & Alvanov Zpalanzani Mansoor, 2022. "Proposed Strategy for Family Business Internal Management Professionalization Effort (Case Study: CV. Segara Luas Lestari)," European Journal of Business and Management Research, European Open Science, vol. 7(4), pages 133-138, July.
    • Handle: RePEc:epw:ejbmr0:v:7:y:2022:i:4:id:51513
    DOI: 10.24018/ejbmr.2022.7.4.1513
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