The institutionalizing of the family business and economy effects

Family of companies, is the most common examples of private sector enterprises. These companies are obliged to set long-term goals and plans should be made to continue to evolve and shape and presence. Against opponents who constantly changing conditions and in the community, the presence of family business in a good way, they can have the ongoing generation has become very difficult. Of the companies in this position in such an environment need to be institutionalized in order to be managed in a good way. The intention with the family-owned company, has set up a business in any industry is a family. So; Established by the family take responsibility for the work, the competent authority in the hands of a single boss and often referred to as an organization located at the center of the business. The scope of institutionalization, the business will be affected by any kind whatever, and communication has to be dominated by certain rules. As a result, to be useful rules in all of the processes in the company's operation and at the same time be as written these rules, namely the construction of a family constitution and the future of second generation must be grown by adopting this opinion. Intermingling of business and family ties, family cause some advantages and disadvantages of the business. Forms of family business management, relations within the organization shows changes compared to other companies. These differences to the family business management theory cause problems in applying. The purpose of the study, the institutionalization of family companies and identifying the problems encountered in the later stages is to bring solutions to these problems. Keywords :Family Businesses, İnstitutionalization, Organizational Culture