The creation of wealth through family businesses within the agricultural sector of the Western Cape

Van der Westhuizen, Winnie (2007-12)

Thesis (MBA)--Stellenbosch University, 2007.


ENGLISH ABSTRACT: Why can some family businesses survive over several generations when others cannot even be successfully carried over to the second generation? Can it be connected to the creation and definition of wealth? To create wealth for future generations implies much more than just establishing a financially healthy family business. This report examines all the other elements that are crucial to creating wealth and prosperity. In his research Mr Jaffe found that the creation of wealth and prosperity consists out of six dimensions. These dimensions are spiritual capital, financial capital, human capital, family capital, structural capital and societal capital. All of these dimensions are examined and tested in this report and members of family businesses in the Western Cape were asked for personal contributions by completing a questionnaire. From the research it is clear that some of these farmers do not have the correct and necessary structures in place to make it possible for their family businesses to survive to the next generations. Some of these dimensions are being addressed while the farmers have no idea of how important they are to the survival of their family business. Communication is one of the most compelling requirements for success and members of family businesses will have to realise how important effective and healthy communication is. Family members have to be able to communicate their expectations of each other and have to know each other's positive and negative characteristics. This will help ensure that family members are applied in areas they are strong in. To reach its full potential a family business must utilise its members to the fullest. By following these guidelines lasting wealth and prosperity can be created.

AFRIKAANSE OPSOMMING: Hoekom kan sommige familiebesighede vir gesla9te lank corleet en ander nie eers suksesvol oorgedra word na die tweede ge51a9 nie? Het dit moontlik iets te doen met die skepping en definisie van rykdom? Om rykdom te skep vir toekomstige geslagte behels baie meer as net die daarstelling van 'n finansieel gesonde familiebesigheid. Hierdie tesis ondersoek die ander elemente wat oak van kardinale belang is in die skepping van welvaart. Mnr Jaffe het uit sy navorsing bevind dat die skepping van welvaart ses dimensies behels. Die dimensies is geestelike-kapitaal, finansiele-kapitaal, menslike-kapitaal, familie-kapitaal, strukturele-kapitaal en gemeenskapskapitaal. In hierdie tesis word hierdie dimensies getoet5 en ontleed. Daar is aan lede van landbou-familiebesighede in die Wes-Kaap gevra om hul persoonlike ervaringe te deel deur middel van 'n vraelys. Uit die navorsing is dit duidelik dat sommige van die boere nie al die regte strukture in plek het wat dit moontlik sal maak vir hul familiebesighede om die volgende paar geslagte te aorleet nie. Party van die dimensies word weer aangespreek sonder dat die boere besef hoe belangrik dit regtig vir die toekoms van hul familiebesigheid is. Lede van familiebesighede sal moet besef dat goeie, gesonde kommunikasie baie belangrik vir sukses is. Die familielede moet vir mekaar kan se wat hul verwagtinge van mekaar is en moet ook weet wat die goeie en slegte punte van die ander lede van die familie is. Oit sal daartoe bydra dat familielede aangewend kan word in die areas waarin hulle sterk is. Om die volle potensiaal van 'n familiebesigheid te bereik moet al die familielede optimaal benut word. So kan blywende rykdom geskep word vir toekomstige geslagte.

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