Perpetuity of Family-Owned Business in the Philippines: Managing the Ecological Threat

The threat of climate change on family business survivability is best managed by ensuring that business activities are done in a manner that does not harm the environment. The study aimed to determine the impact of ecological factors on family-owned business perpetuity. The study used a quantitative research method as a means of collecting the needed data and information to attain the objectives of the study. The study were conducted in the ten (10) major cities in the Philippines. A total of 1117 family-owned business respondents. A regression model was created that best predicted the dependent variable, family-owned business perpetuity using external factors. As observed, most of them agree and strongly agree that when they put up a family business, they must respond to climate change. Family business owners agreed that one of their conscious efforts is based on the family’s ethical values. Another conscious effort that most of them agree and strongly agree is, to be able to protect the environment, they must have legal compliance. Among the external factors, the ecological aspect has the highest impact to perpetuity with a beta weight of 0.266. This implies that in order for a family business to continue, it must have a concern on the ecological aspect. Thus, giving an importance to ecological aspect helps in the family business perpetuity.

 

Keywords: Perpetuity, Family-Owned Business, Ecological Threat