Women, goal orientation, and success: A family business perspective

Shellye Annette Clark, Purdue University

Abstract

The purpose of the study was to investigate the impact of family businesses’ strategic management practices and gender on goal orientation and financial success. In previous small business literature, women business owners and managers are often shown to underperform compared to their male counterparts. The present study sought to examine the female underperformance theory by attempting to explain success, mainly profitability and growth, through business goal formulation, management strategies, and business attributes. The management strategy of analyzing customer satisfaction is positively associated with the choice of adequate financing as a primary business goal, profitability, and growth. The amount of the business manager’s general work experience is positively associated with the choice of profit as a primary business goal, profitability, and growth. Although the female business managers in the study choose positive reputation with customers as a primary business goal more often male business managers, gender does not significantly influence the choice of primary business goal. The present study agreed with what previous literature illustrated, women business managers were responsible for family businesses that are less profitable than family businesses managed by men. These results are discussed in terms of how small business counselors can better understand primary business goals and existing business characteristics which can be translated into performance and success.

Degree

M.S.

Advisors

Marshall, Purdue University.

Subject Area

Womens studies|Management|Economics|Individual & family studies

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