Impact of Financial and Cost management systems within Family Owned Businesses on the Corporate Citizenship
This paper focuses on family businesses operating in an emerging economy as the hindrances that any family business meet may vary compared to operating in a developed economy. Since, an effective cost management system could improve the small businesses’ financial management the purpose of this paper is to critically explore the impact of financial and cost management systems on family owned businesses in terms of enhancing an effective financial management while increasing their performances in order to engage fully in the corporate citizenship agenda and sustainability as well. In particular, it aims to explore the financial and cost management system of these family owned business while examining the impact of changing dynamics and Sri Lankan cultural and local characteristics on the adoption of financial and cost management systems.
Who is it for? This is beneficial to any interested audiences - such as academics, students, businesses and professionals.
What will you gain? An understanding of how family businesses could better engage with the corporate citizenship agenda, and how research on corporate models should move to include such businesses.