Factors that Build a Sustainable Family Business for Students of the Entrepreneurship Study Program, Universitas Pendidikan Indonesia Kampus Tasikmalaya
DOI:
https://doi.org/10.30595/raar.v4i1.22177Keywords:
Factors, Family Business, Sustainable FamilyAbstract
The sustainability of a family business plays a crucial role in an entrepreneur's journey within such an enterprise. However, building and maintaining a family business often face numerous challenges due to various inhibiting factors. It's important to identify the necessary factors to ensure the continuity of such a business. This research aims to examine the factors that contribute to building a sustainable family business. The factors to be evaluated include succession, strategic planning, corporate governance, leadership, family business values, family capital, and the business environment.The research targets students in the Entrepreneurship program at the Universitas Pendidikan Indonesia, Tasikmalaya Campus. It employs a quantitative research method with a descriptive-verification approach, utilizing a sample selection technique. The population consists of 200 individuals, with a sample size of 35. The analysis method used in this research is factor analysis, specifically the quantitative second-order confirmatory factor analysis (CFA). Data collection involves a questionnaire based on variables contributing to the sustainability of a family business.This study highlights several factors essential for building a sustainable family business among Entrepreneurship program students at the Universitas Pendidikan Indonesia, Tasikmalaya Campus. It emphasizes the necessity of supportive factors in establishing a family business and the importance of adequate knowledge in building a successful business. This includes strategies, the significance of having a clear vision and mission, the importance of environmental analysis, and the need to develop appropriate strategies to achieve business goals.
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