Title of Oral/Poster Presentation

Adjustment Strategies and Business Success in Minority Women-Owned Family Firms

Presenter Information

Mark JacksonFollow
Yoon LeeFollow

Class

Article

Department

Family, Consumer, and Human Development

Faculty Mentor

Lee Yoon

Presentation Type

Poster Presentation

Abstract

Adjustment strategies are instrumental behaviors through which external objects are manipulated to obtain the goods and services needed to maintain satisfactory levels of living under normal or unusual conditions (Winter & Morris, 1998). These strategies are a means of restoring or maintaining an acceptable level of well-being for family-owned businesses during periods when increased demands are made on time and human resources in either the family or the business (Miller, Fitzgerald, Winter & Paul, 1999; Fitzgerald, Winter, Miller & Paul, 2001). Using data from the 2003 and 2005 National Minority Business Owners Survey, the purpose of this study is to examine to what extent minority women-owned family firms adopted adjustment strategies and how the use of adjustment strategies influenced business success. The sample consisted of 71 Black, 93 Korean, and 95 Mexican women-owned family firms. The descriptive results indicate that Mexican female owners were most likely to use adjustment strategies as compared to the other two groups. The multivariate results also show that all else being equal, both Mexican and Korean female owners were more likely to use adjustment strategies than Black female owners. The OLS results show that all else being equal, the use of adjustment strategies positively influenced perceived business success among women-owned family firms. This study concludes that the differences in owners' ethnicity significantly affected the use of adjustment strategies and the levels of perceived success were increased as the owners used adjustment strategies more often. The findings of this study suggest that business consultants need to understand the difference in the use of adjustment strategies adopted by women with different ethnic background and might apply this knowledge when they consult their clients. It is important for professionals and educators working with women-owned small family firms to develop programs that provide helpful for adjustment strategies.

Start Date

4-9-2015 1:30 PM

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Apr 9th, 1:30 PM

Adjustment Strategies and Business Success in Minority Women-Owned Family Firms

Adjustment strategies are instrumental behaviors through which external objects are manipulated to obtain the goods and services needed to maintain satisfactory levels of living under normal or unusual conditions (Winter & Morris, 1998). These strategies are a means of restoring or maintaining an acceptable level of well-being for family-owned businesses during periods when increased demands are made on time and human resources in either the family or the business (Miller, Fitzgerald, Winter & Paul, 1999; Fitzgerald, Winter, Miller & Paul, 2001). Using data from the 2003 and 2005 National Minority Business Owners Survey, the purpose of this study is to examine to what extent minority women-owned family firms adopted adjustment strategies and how the use of adjustment strategies influenced business success. The sample consisted of 71 Black, 93 Korean, and 95 Mexican women-owned family firms. The descriptive results indicate that Mexican female owners were most likely to use adjustment strategies as compared to the other two groups. The multivariate results also show that all else being equal, both Mexican and Korean female owners were more likely to use adjustment strategies than Black female owners. The OLS results show that all else being equal, the use of adjustment strategies positively influenced perceived business success among women-owned family firms. This study concludes that the differences in owners' ethnicity significantly affected the use of adjustment strategies and the levels of perceived success were increased as the owners used adjustment strategies more often. The findings of this study suggest that business consultants need to understand the difference in the use of adjustment strategies adopted by women with different ethnic background and might apply this knowledge when they consult their clients. It is important for professionals and educators working with women-owned small family firms to develop programs that provide helpful for adjustment strategies.