Family Businesses’ Strategic Responses To The Challenges Of War Conflict

Abstract

Family businesses are very important actors in the Hungarian and EU economy. Both the EU and the Hungarian economy are dominated by family businesses. Therefore, the question of the strategic choices FBs make in the course of their operations is a very important one. In my work, I examine the evolution of the strategic goals and strategy of family businesses, i.e. the changes in the definition of strategic goals and the shaping of strategy after the Russian-Ukrainian war conflict. I also examine the economic impact of the war on small and medium-sized enterprises. In this context, I will also investigate whether a statistical link can be established between the impact on the profitability and other economic areas of enterprises and the strategic objectives and strategy to be pursued in the future. The basis for my analysis is an online questionnaire survey of family businesses.