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Family Business Navigating Global Crisis (GSU-CIBER Webinar Review)

Essay Instructions:

Assignment #4: GSU- CIBER Webinar Review

1)  Select one of the GSU- CIBER webinar recordings on page 2 of this document.

2)  Summarize the webinar in two (2) pages.

  • Highlighting the main aspects of the webinar. The primary focus is on highlighting the overall theme, key findings, outlooks, and recommendations to business leaders and/or organizations.
  • Provide 1-2 two (2) intext citations (short direct intext citations or paraphrased intext citation) from the webinar (see APA guidance). This can be a quotation from the webinar, or from the slide deck or a working or scholarly paper that is provided on that webinars page.
  • As you have practiced with completing Assignment 1 Annotated Bibliographies, paraphrase and include the most critical and compelling aspects of the webinar. Do not rely on long citations to do the work. You must interpret and re-phrase the key points.
  • Format: Two pages suggested limit, okay to go slightly over; 1-inch margins; standard fonts such as Times New Roman, Calibri, Arial, etc.); may be single or double spaced – writers discretion.
  • Reference the webinar at the top of page 1 and be sure it is APA style.
  • Grading this section will primarily focus on content inclusion and interpretation, with secondary factors of writing style clarity and formatting.

For more on APA intext citations review the APA style guide page: https://owl.purdue.edu/owl/research_and_citation/apa_style/apa_formatting_and_style_guid e/in_text_citations_the_basics.html

About Georgia State University (GSU)- CIBER: Since April 2010, the U.S. Department of Education has designated CIBER at Georgia State University as a national resource center in International Business (IB). This distinction recognizes the Center’s established expertise in IB, and makes a significant investment to further advance IB education, research, and practice.

Over the last 10 years Georgia State University CIBER has hosted a series of webinars about pertinent international business topics. These webinars are offered free to the public and address categories including international business, contemporary trade and investment issues, and research trends in international business. Beginning in October 2020, a new category of webinars was introduced, featuring conversations with senior business executives of global organizations. The webinars in this series are recorded and made publicly available for later viewing at ciber.gsu.edu and hyperlinked in the title below for direct access.

Your choices of recorded webinars to select from:

  1. Conversations with Global Business Leaders: Global Talent Management https://ciber.robinson.gsu.edu/webinar-global-talent-management/
  2. Changing Nature of Emerging Markets https://ciber.robinson.gsu.edu/webinar-doing-business-in-emerging-markets/
  3. Leadership in Global Companies in Times of Pandemic https://ciber.robinson.gsu.edu/webinar-leadership-in-global-companies-in-times-of-pandemic/
  4. Global Cities Initiative

https://ciber.robinson.gsu.edu/webinar-global-cities-initiative/

  1. Conversations with Global Business Leaders https://ciber.robinson.gsu.edu/webinar-leadership-in-global-companies/
  2. Future Research Directions in International Marketing https://ciber.robinson.gsu.edu/future-research-directions-in-international-marketing/
  3. Does Cultural Resilience Matter in Overcoming Major Disruptions? The Italian Experience with the Global Health Pandemic https://ciber.robinson.gsu.edu/does-cultural-resilience-matter-in-overcoming-major-disruptions-the-italian-experience-with-the-global-health-pandemic/
  4. Family Business Navigating Global Crisis https://ciber.robinson.gsu.edu/webinar-family-business-navigating-global-crisis/
  5. China Belt and Road Initiative

https://ciber.robinson.gsu.edu/webinar-china-belt-and-road-initiative/

10.  International Business in Times of Pandemic: The Case of Brazil https://ciber.robinson.gsu.edu/5341-2/

Essay Sample Content Preview:

Family Business Navigating Global Crisis (GSU-CIBER Webinar Review)
Student’s Name
Institutional Affiliation
Course ID
Instructor’s Name
Due Date
Family Business Navigating Global Crisis (GSU-CIBER Webinar Review)
Introduction
      In emerging markets, family businesses are a dominant player and contribute a good proportion of the global GDP. They are also in existence in advanced economies such as the US, Italy, China, South Korea, among many others. Family businesses vary in size, ranging from small, medium, to large ones. This essay examines how family businesses cope with landmark global crises. Global crises include pandemics such as Covid-19, an economic crisis such as the one witnessed in 2007-2009, natural disasters, and many others.
Family Businesses and Coping with a global crisis
Features of family businesses that give them a competitive edge
Family businesses tend to weather recessions much better than their counterparts, non-family businesses. It points to unique characteristics of family businesses that make them thrive during any crisis. One feature is that family businesses have a shared identity and values. They hold a clear vision, culture, and values over a long period (Dr. Qian et al., 2020). This helps them tactfully respond to the turbulent environment without losing their unity of purpose or long-term strategy
Another unique feature is the family-enterprise identification. There is a strong emotional and psychological attachment between the owners of the business and the business itself. It is so strong that they find it hard to close or liquidate the business in times of (Dr. Qian et al., 2020). Family-owned businesses have a stronger social capital compared to non-family firms. Some employers cut down their benefits like paid holidays to ensure that their employees get paid. They also have open long-term relationships with their stakeholders and consumers, which further boosts confidence in these firms and unwavering support in times of crisis.
Challenges family businesses face and how to convert them to opportunities
      Employees who are not members of the family have high chances of dismissal, e.g., CEOs and professional managers. They may also be blamed when performance goes down. Therefore, family executives need to effectively work on trust issues to ensure that they earn the trust and loyalty of these talents and retain them (Dr. Qian et al., 2020). Family businesses are also financially fragile. This is because they are unwilling to ask for financial help. This can be solved by using family we...
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