ASSESSING SUSTAINABILITY IN FAMILY BUSINESSES IN SRI LANKA THROUGH AN EFFECTIVE ENTREPRENEURIAL PROCESS LIFECYCLE.

Abstract

In the current dynamic and highly unpredictable market entrepreneurship is a highly sort after subject in the industry. As entrepreneurs are responsible for job creation it is vital to understand the involvement of family and kinship in the organizations development. To do this the many factors that influence the entrepreneurial process must be identified and a relationship must be identified in the entrepreneurial lifecycle. This research was conducted in order to identify the involvement of family during the entrepreneurial lifecycle and how this creates sustainability of the organization. This study is done in order to bridge the knowledge gap in Sri Lanka regarding entrepreneurship and provides an understanding of family oriented entrepreneurial firms to further generations. In order to carry out this research the author uses the qualitative method and an induction approach. This will be done through interviews that are conducted on open ended questions from different family oriented entrepreneurs.