An investigation into change management in the process of DIVORCING ownership from management of Family Businesses: the case of FG Curtis Plc, UK

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ACKNOWLEDGEMENT

I would take this opportunity to thank my research supervisor, family and friends for their support and guidance without which this research would not have been possible.

DECLARATION

I, [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University.

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Table of Contents

ACKNOWLEDGEMENTII

DECLARATIONIII

CHAPTER 4: DISCUSSION AND ANALYSIS1

Survey Analysis1

A.What is a Family Business and why are they set up?1

B.Factors that bring about the Divorce1

C.What measures is been put in place to manage the change?2

D.Is there anything as 'Right time for the Divorce'?2

E.Effects of Divorce; Has the Divorce achieved the desired results?2

Discussion3

Family Business3

The Divorcing ownership Process5

Factors of Divorcing Ownership7

1.Willingness of the successor to take over the family business.7

2.Financial opportunities7

3.Relationship between Owner-Manager And Successor8

4.Family Harmony8

Divorcing Ownership Decision9

Evaluating the Three Circle Model10

Change Management11

Change and Conflict12

Nature of Change12

CHAPTER 5: CONCLUSION14

REFERENCES20

CHAPTER 4: DISCUSSION AND ANALYSIS

Survey Analysis

In this chapter, firstly the researcher will analyze the results of the survey. All six (6) interviews together lasted 175 minutes (approximately 3 hours) with Mark Warner's ironically being the lengthiest, 45 minutes even though it was originally thought to be shortest as it was never going to be the centre of the study. However, the camaraderie between us came to bear as we had a hearty chat throughout the entire session.

What is a Family Business and why are they set up?

In response to the first question, the respondent gives their views about family business. A summarize view of all responses is that “A family owned business is one where the majority of share holders are related. There are a few non family shareholders.. Often staffs are more involved in the day to day running of such businesses and big company practices such as HR departments are left behind. This can be beneficial as the owners of the business are generally more accessible to the staff and senior management”.

Factors that bring about the Divorce

Divorce in family business has become a very significant issue so the researcher asks the respondent to share their views and tell the major factors that drive an ownership divorce in family business. The major factor derived from the response is the divorce was retirement as the business need to be adapt changes for that business need a 'younger brain' to take charge of the business.

What measures is been put in place to manage the change?

In response to this question, the respondent believes that “Managing change has become a vital aspect for any business”. In family business as the ownership is changing so change management is very important as the new owner has a responsibility on his shoulders. Firstly he needs to overtake all the business operations and the need to be flexible enough for managing the change with the ...