An application on the attitude of family business toward institutionalization

The majority of the organizations in the world and our country areconsisted of family businesses which perform an important function for theeconomy of the country where they exist. In consequence of globalization,increased competition and shifted management concept which are twoconsequences of globalization stream, require an institutionalized structure inorder to maintain the existence of the organizations and their operations. Theserequirements are especially important for family businesses. However, one cannot say that the institutionalization -which is defined as the domination ofcertain rules throughout every transaction and communication- would workappropriately for common because of the ownership of the family and thecentralization in the management decisions and actions.For the family businesses to sustain their activities in a successful matter,it is important to determine ?what to do?s? according to institutionalization, tofix the similarities, and the differences among the generations, and display thepoint of view of the subsequent generations for the institutionalization.The main goal of this study is to determine whether the family businesses?which are alike the general profile of businesses in our country and themajority are consisted of small and middle sized companies- are in effort ofinstitutionalization and the subsequent generations are committed to this issue.In order to achieve this goal, the research instrument is applied to 50 familybusinesses which are MAGIAD (Manisa Association of Young Businessmen)members and through statistical analysis it is aimed to reveal the solution.With this study, it is aimed to attract the attention of people and institutions andto attribute the managers in order to show them the way to constitute thestructure to maintain the sustainability of their institutions.Key Words: 1) Family Business, 2) Following Generation,3) Institutionalization