Understanding the management transition process of family-owned restaurants in Binondo, Manila

• Main Authors: Corrales, Maria Jesshiela Nicole M., De Leon, Aldric Benjamin Z., Ong, Daryl Danielle B., Perpetua, Gem Nicole A., Ybuan, Kenneth T.
• Format: text
• Language: English
• Published: Animo Repository 2010
• Subjects: Family-owned business enterprises > Philippines > Metro Manila > Management; Family-owned business enterprises > Philippines > Metro Manila > Succession; Family-owned business enterprises > Philippines > Metro Manila > Case studies; Businesspeople > Philippines > Metro Manila > Family relationships; Restaurant management > Philippines > Metro Manila
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/14520
• Institution: De La Salle University

According to Barnett & Kellermanns (2006) as cited by Hartel, C.E., Bozer, G. & Levin, L. (2009), with the evolving economies, more than two of every three organizations are family owned and/or managed. Due to the said statistic, the research group had decided to make a research on family-owned business. In the proposed study, the group will only focus on Small and Medium family-owned restaurants that are situated in Metro Manila, particularly in the Binondo area. This study will provide the essential factors that are involved in a successful transition of a family business to the next or future generations. The results of the said study then could help the researchers identify problems that may occur during and after the transition process and identify solutions as well that could help increase the number of successful family business transitions, especially for the Filipino entrepreneurs. The study shows that succession planning involves three aspects the mindset of the predecessor, the acceptance of the family and the willingness of the successor. A census of the family-owned restaurants in Binondo shows that management transition planning proves to enhance the chances of sustaining the business measured by the business section in the survey questionnaire. To further expound on the data gathered, interviews were conducted on the restaurant managers. Company growth and expansion occurred upon the change of management because of the innovative mindset these successors instilled in their restaurants.