Emotions, Decisions and Family: Recalling Family Business Closure

Abstract

This dissertation seeks to develop an in depth of understanding of the emotions and decision-making processes experienced by a family within business before and after a business closure. It looks to understand how emotions can be heavily implicated with decision-making within the functioning of the business and as a result, effect the decisions that are made. The research is done through a case study on one family business which closed in 2013, the business was a second-generation family business. The research is collected through interviews in a semi-formal manner which allow for probing of questions and therefore data rich answers. Six participants who are family related were interviewed, they all had a part within the business, this ranges from helping on a daily basis to being within the partnership. The literature is related to the research found in a variety of ways, but there are also inconsistencies when relating the research to family business closure as there is limited research on family businesses after the business has closed. Conclusions highlighted the dynamic subject area of family business, as well as future research which may help the survival of family businesses.