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The 3D IFB SWOT Analysis as a Strategic Tool to Develop Entrepreneurial Plans for Family Businesses

The 3D IFB SWOT Analysis as a Strategic Tool to Develop Entrepreneurial Plans for Family Businesses

Luz Leyda Vega-Rosado
Copyright: © 2022 |Pages: 27
ISBN13: 9781668435502|ISBN10: 1668435500|EISBN13: 9781668435519
DOI: 10.4018/978-1-6684-3550-2.ch012
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MLA

Vega-Rosado, Luz Leyda. "The 3D IFB SWOT Analysis as a Strategic Tool to Develop Entrepreneurial Plans for Family Businesses." Research Anthology on Strategies for Maintaining Successful Family Firms, edited by Information Resources Management Association, IGI Global, 2022, pp. 268-294. https://doi.org/10.4018/978-1-6684-3550-2.ch012

APA

Vega-Rosado, L. L. (2022). The 3D IFB SWOT Analysis as a Strategic Tool to Develop Entrepreneurial Plans for Family Businesses. In I. Management Association (Ed.), Research Anthology on Strategies for Maintaining Successful Family Firms (pp. 268-294). IGI Global. https://doi.org/10.4018/978-1-6684-3550-2.ch012

Chicago

Vega-Rosado, Luz Leyda. "The 3D IFB SWOT Analysis as a Strategic Tool to Develop Entrepreneurial Plans for Family Businesses." In Research Anthology on Strategies for Maintaining Successful Family Firms, edited by Information Resources Management Association, 268-294. Hershey, PA: IGI Global, 2022. https://doi.org/10.4018/978-1-6684-3550-2.ch012

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Abstract

This chapter provides a framework that family business members can use to strategically and entrepreneurially evaluate themselves before they prepare the final strategic plan of the family firm. The tool consists of four phases. The first phase is the Strengths-Weaknesses-Opportunities-Threats (SWOT) analysis of the Individuals that are members of the family business. The second phase is the SWOT analysis of the Family's generational groups. Each generation in the family business will work in groups according to their year of birth. The third phase is the SWOT analysis of the Business. The fourth and most important phase is the integration called 3D IFB SWOT Analysis. It is 3D because it is three-dimensional, integrating the Individual, the Family's generations, and the Business.

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