Mayday, Mayday: Falling off a legacy

Senthilkumaran Piramanayagam, Saurabh Kumar Dixit

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

Family-owned businesses play a significant role in nations' economies worldwide. They have become an integral part of economic development by providing employment generation and wealth creation. However, the family-business image has been tarnished by issues such as the informal culture and structure, lack of professionalism, lack of planning and nepotism. It is evident that the majority of family-run businesses fail to survive beyond three generations. This hypothetical case study is about the issues faced by a family-owned hospitality business organization called the Raymond Hotel Company (RHC). The problems faced by the RHC are common among family-owned business firms that affect their survival and profitability. The case study will help students become familiar with issues related to professionalism and nepotism in managing a family-owned hospitality business.

Original languageEnglish
Title of host publicationTeaching Cases in Tourism, Hospitality and Events
PublisherCABI International
Pages182-190
Number of pages9
ISBN (Electronic)9781800621022
ISBN (Print)9781800621015
DOIs
Publication statusPublished - 28-02-2023

All Science Journal Classification (ASJC) codes

  • Economics, Econometrics and Finance(all)
  • General Business,Management and Accounting

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