The increased level of globalization, innovation and competition is putting extra pressure on business world to perform better to gain the sustainability and profitability. It is to ascertain that due to these three aspects the organizations are proposing new strategies and plans which help them to make alignment between these three significant elements of business environment & can. Further it is also very much required to understand that these factors have affected the entrepreneurial management also at very large scale (Armstrong and Stephens, 2005). The entrepreneurs also understand the requirement of embracing the change to deal with globalization, innovation and competition. Further the type of business also affects the entrepreneurial management. Due to this factor the entrepreneurs share the different kind of approach and thought process which affects their entrepreneurship style. Here in this report the family owned business has gained huge consideration with a view of gaining the proper understanding about the entrepreneurial management (Cardno, 2005).
The research work starts with chapter of an introduction which deals with an overview of research and company. The section provides reader deep understanding of the field of study and its subject matter. It also sketches aims and objectives of research which in turn guides research work (Goddard and Melville, 2004). It is one of the most important parts of research work since it provides outline of aspects covered within the research.
Another important section of the research is literature review that emphasizes on studying previous studies and literatures. It is through analysis of outcomes developed in research works conducted in past that an overview of perceptions prevailing in market place are analyzed (Katiyar and Khare, 2012). The literature review develops an understanding of various aspects related to the field. It generates an idea of arguments developed by researches and studies in past. Literature review is of significance since it adds knowledge to researcher about the field of study and issues related to same.
The chapter of research methodology is included so as to provide an overview of various techniques available to conduct analysis. It is through research methodology that a researcher is able to provide a framework within which research is to be conducted. It is through section of research methodology that readers are able to develop an understanding of various methodologies an techniques applicable for the purpose of data collection and analysis (Saunders, Lewis and Thornhill, 2007). The section is one of the critical parts since it emphasizes on identification of appropriate techniques and methods to be applicable in research work. The section provides guidance to researcher to conduct research activity with efficiency.
It is the section whereby data accumulated for research work is analyzed and interpreted. The techniques identified by way of research methodology are adopted in this part. The chapter provides a complete picture of data evaluation (Scruggs and Mastropieri, 2006). In case of qualitative analysis; various theories and models are adopted to evaluate the data. However, in case of quantitative of analysis various statistical techniques and tools are adopted to analyze the data. The chapter also covers findings and outcomes developed as a result of evaluation. The section provides solutions for issues identified in a research work. Moreover, it develops a path for concluding the research work and recommending effective solutions (Sloan, Legrand and Simons-Kaufmann, 2014).
Lastly, research work brings forth conclusion and recommendations made on p[art of researcher. The chapter outlines all aspects dealt with in research and thereby concludes research activity. It provides a reader understanding of ways in which concerned issues are solved (Slan, Emin and Regend, 2014). The section is an overview of all outcomes generated through the research. The researcher also recommends ways to overcome problems and issues faced by an organization or economy through this section. It is one of the important sections of research work since it summarizes all the entire study.
This chapter concludes the information that is analyzed in the above chapter of "data analysis". It is also the most significant section of the report as it deals with making solid outcomes. It is important that data should be concluded in effective manner as it affects the quality of the whole dissertation. These outcomes will helps in identifying the gaps and issues related with the subject. Further in order to remove these issues, strong recommendations will be made at the end. The chapter will construct a solid base for the following research.
From the above study it can be concluded that family business is something which also requires effective entrepreneurship management. It can be said that entrepreneurial management requirements in this business are quiet different than any other business. This type of management is based upon skills set structure which is enclosed with strategic orientation, management structure, commitment to opportunity, control and commitment of resources. The owners of the family owned businesses are supposed to grasp that they have to adapt appropriate entrepreneurial skills in order to well develop their business.
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