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Analysis of family businesses in Ecuador from a multivariate perspective

Abstract:

In the economic development for the business world there is an organizational typology called family business, which in the case of Ecuador, is a systematic process that involves various sectors, such as: Public, private, associations, among others. This research aims to analyze family businesses from a multivariate perspective, it seeks to delve into these family groups that are more concentrated in the provinces of Guayas, Pichincha, Manabi, Azuay and El Oro, due to the great potential of the commerce sector. The methodology applied was under a quantitative approach, with an exploratory, descriptive and multivariate scope, through a simple random sampling made up of 250 companies, of different sizes, generations and sectors. Two multivariate data techniques were performed, principal component analysis and the HJ-Biplot. As a result, socioeconomic elements reflect that if succession in the family business is important for economic development, because it could result in a deficit in its growth if bad decisions are made. In conclusion, the family business in Ecuador has managed to reposition itself in the market, increasing its participation, increasing the variety, the quality of its products and its geographical area of influence, even starting its first exports abroad.