Growth strategy for family-owned businesses. The case of JHV-Engineering s .r .o

A family business is a commercial organization in which leadership is influenced by multiple generations of a family. Family-owned businesses are, in the essence, pursuing the same goals and facing the same concerns as any public companies—strategic planning, finance, tax, operational effectiveness, compliance, competition, people management, technological progress, and of course, growth. However, an additional concern is that for a family business, business strategy must also embed the unique needs of the family—including succession and financial planning, long-term stewardship, family relationship management. Healthy growth of family requires finding a balance between growth and sustaining a high level of quality, profitability and caring organizational culture, which is a challenge without careful planning. The goal of this thesis is to identify the barriers for business growth of JHV-Engineering, taking into the account the abovementioned specific concerns of family ownership, and provide practical recommendations.