Game of Thrones: The Making of a Family Business Heiress

Abstract

As a nation that values family, it is not surprising that the Philippines is dominated by family owned-businesses. This shows that family firms have big contributions to the economy and the labor trade of the country. Family owned-businesses can also be a great venue for women who aspire to be great leaders. Because of all these, there is a need to understand the experiences of female family members who inherit or will inherit the business. For this research, the well-known Three Circle Model of family business, and two theories, the Social Identity Theory and the Role Congruity Theory where used to guide the study. This study exploring and focusing on the formational and lived experiences of five Filipina business heiresses of different family-owned firms in the Philippines followed the qualitative structure of research based on the phenomenological approach. In-depth, semi-structured face-to-face interviews had been conducted by the researcher in order to acquire the needed data. The researcher was able to look into the gathered responses and categorized the information to address the main research question, "What does it mean to be the heiress of the family-owned business?" The findings of the study showed that the formation and being of a business heiress are influenced and affected by the succession process, gender, and their relationship with certain groups. Factors such as the criteria used in choosing the rightful successor, and the preparations they go through control the succession process. Gender determines the skills and characteristics of the business heiresses, as well as the difficulties and opportunities they face. Lastly, the attitude and behavior of business heiresses toward their family and employees are affected by the family and employees’ support and reaction in relation to their appointment.