Entrepreneurial Family Business: From Survival to Success
Edition: 1
Copyright: 2022
Pages: 166
Edition: 1
Copyright: 2022
Pages: 166
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Entrepreneurial Family Business: From Survival to Success is a comprehensive look at the impactful elements surrounding family business and entrepreneurship throughout time. It emphasizes the importance of overlap between family, business, and ownership by utilizing story-telling techniques. By explaining the role of entrepreneurship with a story, the author is able to show practical applications and highlight important cornerstones of family business. Historical documents and records are provided throughout the text in order to supply fact-based evidence.
The author, Dr. Dianne H.B. Welsh, discusses the creation, experiences, and evolution of her family business, Boyt®, which began in 1901 as a horse and animal equipment company, evolved into Boyt® Division Welsh Sporting Goods that revolutionized the soft-sided luggage industry around the world, and is now in its next phase and ownership.
Entrepreneurial Family Business: From Survival to Success focuses on the role of innovation in the development and longevity of Boyt®. It highlights the integral roles that each person plays in the success of a business and emphasizes that each role deserves respect and praise. This text allows readers to consider the outcomes of their decisions and the impact on the sustainability of the family, business, and ownership.
Chapter 1: Know How to Get Home
Chapter 2: Know Where Else to Go
Chapter 3: Know the Beginnings of Innovation
Chapter 4: Know Your Direction
Chapter 5: Know What You Stand For
Chapter 6: Know to Protect Your Story
Chapter 7: Know the Financials
Chapter 8: Know Sales and Marketing
Chapter 9: Know the Family
Chapter 10: Know Leadership
Chapter 11: Know the Importance of Learning
Chapter 12: Know that Too Big Too Fast Can Become a Liability
Chapter 13: Know to Not Let the Cornerstones Crack
Chapter 14 (Epilogue): Know History Repeats Itself
Chapter 15: Know the Rest of the Story
- Syllabus
- Test Bank
DIANNE. H.B. WELSH is the Hayes Distinguished Professor of Entrepreneurship and Founding Director of the Entrepreneurship Programs at The University of North Carolina Greensboro, including the North Carolina Entrepreneurship Center and the Entrepreneurship Cross-Disciplinary Program. She has founded two entrepreneurship programs and centers and has held three endowed professorships above a full professor. She was named the Fulbright-Hall Distinguished Chair for Entrepreneurship for Central Europe at W.U. (Vienna University of Economics and Business) in 2015. She has been a visiting professor eleven times, including Finland, Poland, Lithuania, Slovakia, Austria, South Africa, and Chile. A world-renowned researcher and speaker, she has visited over 60 countries.
Dianne is the recipient of the Barbara Hollander Award for lifelong contributions to family businesses, education, and civic causes from the Family Firm Institute, the Legacy Award for Lifetime Achievement from the Global Consortium of Entrepreneurship Centers, and the Deshpande Foundation Outstanding Contributions to Advancing Innovation and Entrepreneurship Award. Dianne was honored with the Senior Teaching Award for the University of North Carolina Greensboro in 2015, the 2015 Commencement Speaker, and the Board of Governors Teaching Award in 2019, the highest teaching award in the State of North Carolina. She was also awarded the Max S. Wortman, Jr. Lifetime Achievement Award for Entrepreneurship at the 2024 United States Association for Small Business and Entrepreneurship Conference. Dr. Welsh has received 113 awards and honors.
Dianne is a recognized scholar in family business, international entrepreneurship, women-owned businesses, entrepreneurship pedagogy, cross-campus programs, and franchising. Dr. Welsh has authored 116 refereed journal articles, 68 books, chapters, and cases, 350 presentations and proceedings, and 15 magazine publications. Her research has been published in the Academy of Management Journal, Journal of International Business Studies, Entrepreneurship Theory & Practice, Journal of Business Venturing, Journal of Small Business Management, Family Business Review, Journal of Family Business Strategy, International Small Business Journal, Entrepreneurship & Regional Development, Journal of Business Research, among other journals. She serves on over 20 journal editorial review boards. Dr. Welsh’s Google Citation Index score is currently 5,300.
Dr. Welsh’s eight books include Creative Cross-Disciplinary Entrepreneurship: A Practical Guide for a Campus-Wide Program, published by Palgrave-Macmillan, Global Entrepreneurship (4th edition), Case Studies in Global Entrepreneurship (3rd edition), and Family Business and Entrepreneurship: From Survival to Success® (July 2022) published by Kendall-Hunt.
Dianne is a Fellow of the Family Firm Institute, U.S. Association for Small Business & Entrepreneurship, and Small Business Institute. She is a Certified Family Business Counselor from the Family Firm Institute and holds the Senior Professional in Human Resources certification. She was elected as the Chair of the Technology and Innovation Management Division of the Academy of Management with 2,700 members. She served as a Presidential Appointee to the U.S. Air Force Academy Board of Visitors and the Defense Advisory Committee for Women in the Services (DACOWITS). Known for her dedication to service, she has served in 570 service positions to the profession, university, and the community, including board positions on for-profit and not-for-profit entities, and served as chair of worldwide committees.
Dianne delivered the keynote address at the U.N.E.C.E. Women’s Entrepreneurship Conference in Azerbaijan in 2012. Dianne is a keynote speaker at numerous conferences and engagements on family business, franchising, international entrepreneurship, pedagogy, employee reward systems, and future trends. She has consulted for 43 Fortune 50 businesses, family businesses, franchises, and high growth businesses worldwide through the President of Family Business First International, Inc., the consulting company she formed in 1995. Dianne has assisted ten universities in implementing programs across campus in the U.S. and Australia. She was chosen in 2018 to be an expert panelist on the European Commission (DG EAC) evaluation of entrepreneurship programs in Europe. She recently interviewed and wrote a case on the 20th oldest family business globally. The case on the Chilean family business is available in the 4th edition of Global Entrepreneurship.
Dianne grew up in the family business, Boyt® Division Welsh Sporting Goods, where she worked from 8 to 21 years of age. Through this experience, she was able to gain inside knowledge of family business in a manufacturing setting, including creating a new product line that revolutionized the luggage industry, soft-sided luggage that most of the world’s population uses today. Dr. Welsh has owned an ice cream/sandwich shop, part-owner of a hotel on the Oregon Coast, and two consulting firms.
Dianne holds a bachelor’s degree in English with 47 hours of Business Administration from the University of Iowa, a master’s degree in Psychology specializing in Organizational Psychology from Emporia (Kansas) State University, and a Ph.D. in Business Administration from the University of Nebraska-Lincoln with areas in Organizational Behavior, Organizational Theory, Human Resource Management and Labor Relations. The famous researcher, Fred Luthans, was her dissertation chair known for Psychological Capital and Positive Organizational Behavior. She has published several articles with Dr. Luthans since graduating.
The author resides in Greensboro, North Carolina, with her husband, Thaddeus (Ted) J. Shalek, retired C.P.A., M.B.A. They enjoy spending time with their children and grandchildren, working out at the gym, gardening, collecting antiques, and ballroom dancing
Entrepreneurial Family Business: From Survival to Success is a comprehensive look at the impactful elements surrounding family business and entrepreneurship throughout time. It emphasizes the importance of overlap between family, business, and ownership by utilizing story-telling techniques. By explaining the role of entrepreneurship with a story, the author is able to show practical applications and highlight important cornerstones of family business. Historical documents and records are provided throughout the text in order to supply fact-based evidence.
The author, Dr. Dianne H.B. Welsh, discusses the creation, experiences, and evolution of her family business, Boyt®, which began in 1901 as a horse and animal equipment company, evolved into Boyt® Division Welsh Sporting Goods that revolutionized the soft-sided luggage industry around the world, and is now in its next phase and ownership.
Entrepreneurial Family Business: From Survival to Success focuses on the role of innovation in the development and longevity of Boyt®. It highlights the integral roles that each person plays in the success of a business and emphasizes that each role deserves respect and praise. This text allows readers to consider the outcomes of their decisions and the impact on the sustainability of the family, business, and ownership.
Chapter 1: Know How to Get Home
Chapter 2: Know Where Else to Go
Chapter 3: Know the Beginnings of Innovation
Chapter 4: Know Your Direction
Chapter 5: Know What You Stand For
Chapter 6: Know to Protect Your Story
Chapter 7: Know the Financials
Chapter 8: Know Sales and Marketing
Chapter 9: Know the Family
Chapter 10: Know Leadership
Chapter 11: Know the Importance of Learning
Chapter 12: Know that Too Big Too Fast Can Become a Liability
Chapter 13: Know to Not Let the Cornerstones Crack
Chapter 14 (Epilogue): Know History Repeats Itself
Chapter 15: Know the Rest of the Story
DIANNE. H.B. WELSH is the Hayes Distinguished Professor of Entrepreneurship and Founding Director of the Entrepreneurship Programs at The University of North Carolina Greensboro, including the North Carolina Entrepreneurship Center and the Entrepreneurship Cross-Disciplinary Program. She has founded two entrepreneurship programs and centers and has held three endowed professorships above a full professor. She was named the Fulbright-Hall Distinguished Chair for Entrepreneurship for Central Europe at W.U. (Vienna University of Economics and Business) in 2015. She has been a visiting professor eleven times, including Finland, Poland, Lithuania, Slovakia, Austria, South Africa, and Chile. A world-renowned researcher and speaker, she has visited over 60 countries.
Dianne is the recipient of the Barbara Hollander Award for lifelong contributions to family businesses, education, and civic causes from the Family Firm Institute, the Legacy Award for Lifetime Achievement from the Global Consortium of Entrepreneurship Centers, and the Deshpande Foundation Outstanding Contributions to Advancing Innovation and Entrepreneurship Award. Dianne was honored with the Senior Teaching Award for the University of North Carolina Greensboro in 2015, the 2015 Commencement Speaker, and the Board of Governors Teaching Award in 2019, the highest teaching award in the State of North Carolina. She was also awarded the Max S. Wortman, Jr. Lifetime Achievement Award for Entrepreneurship at the 2024 United States Association for Small Business and Entrepreneurship Conference. Dr. Welsh has received 113 awards and honors.
Dianne is a recognized scholar in family business, international entrepreneurship, women-owned businesses, entrepreneurship pedagogy, cross-campus programs, and franchising. Dr. Welsh has authored 116 refereed journal articles, 68 books, chapters, and cases, 350 presentations and proceedings, and 15 magazine publications. Her research has been published in the Academy of Management Journal, Journal of International Business Studies, Entrepreneurship Theory & Practice, Journal of Business Venturing, Journal of Small Business Management, Family Business Review, Journal of Family Business Strategy, International Small Business Journal, Entrepreneurship & Regional Development, Journal of Business Research, among other journals. She serves on over 20 journal editorial review boards. Dr. Welsh’s Google Citation Index score is currently 5,300.
Dr. Welsh’s eight books include Creative Cross-Disciplinary Entrepreneurship: A Practical Guide for a Campus-Wide Program, published by Palgrave-Macmillan, Global Entrepreneurship (4th edition), Case Studies in Global Entrepreneurship (3rd edition), and Family Business and Entrepreneurship: From Survival to Success® (July 2022) published by Kendall-Hunt.
Dianne is a Fellow of the Family Firm Institute, U.S. Association for Small Business & Entrepreneurship, and Small Business Institute. She is a Certified Family Business Counselor from the Family Firm Institute and holds the Senior Professional in Human Resources certification. She was elected as the Chair of the Technology and Innovation Management Division of the Academy of Management with 2,700 members. She served as a Presidential Appointee to the U.S. Air Force Academy Board of Visitors and the Defense Advisory Committee for Women in the Services (DACOWITS). Known for her dedication to service, she has served in 570 service positions to the profession, university, and the community, including board positions on for-profit and not-for-profit entities, and served as chair of worldwide committees.
Dianne delivered the keynote address at the U.N.E.C.E. Women’s Entrepreneurship Conference in Azerbaijan in 2012. Dianne is a keynote speaker at numerous conferences and engagements on family business, franchising, international entrepreneurship, pedagogy, employee reward systems, and future trends. She has consulted for 43 Fortune 50 businesses, family businesses, franchises, and high growth businesses worldwide through the President of Family Business First International, Inc., the consulting company she formed in 1995. Dianne has assisted ten universities in implementing programs across campus in the U.S. and Australia. She was chosen in 2018 to be an expert panelist on the European Commission (DG EAC) evaluation of entrepreneurship programs in Europe. She recently interviewed and wrote a case on the 20th oldest family business globally. The case on the Chilean family business is available in the 4th edition of Global Entrepreneurship.
Dianne grew up in the family business, Boyt® Division Welsh Sporting Goods, where she worked from 8 to 21 years of age. Through this experience, she was able to gain inside knowledge of family business in a manufacturing setting, including creating a new product line that revolutionized the luggage industry, soft-sided luggage that most of the world’s population uses today. Dr. Welsh has owned an ice cream/sandwich shop, part-owner of a hotel on the Oregon Coast, and two consulting firms.
Dianne holds a bachelor’s degree in English with 47 hours of Business Administration from the University of Iowa, a master’s degree in Psychology specializing in Organizational Psychology from Emporia (Kansas) State University, and a Ph.D. in Business Administration from the University of Nebraska-Lincoln with areas in Organizational Behavior, Organizational Theory, Human Resource Management and Labor Relations. The famous researcher, Fred Luthans, was her dissertation chair known for Psychological Capital and Positive Organizational Behavior. She has published several articles with Dr. Luthans since graduating.
The author resides in Greensboro, North Carolina, with her husband, Thaddeus (Ted) J. Shalek, retired C.P.A., M.B.A. They enjoy spending time with their children and grandchildren, working out at the gym, gardening, collecting antiques, and ballroom dancing
- Syllabus
- Test Bank