developing academic skills for business and management. Between 1996 and 2010 a lot of research has taken place in the field of a family-owned business and a lot of theory has been developed (James, Jennings & Breitkruz, 2012). Now a new breed of researchers wants to validate those findings and theories by their research on Asia based family-owned business. This new field of research is essential to validate or negate the findings of researchers in the field who have researched similar enterprises in other countries. This new lot of researches aims to find out whether the previous finds are universal and robust in their conclusion or are particular and country-specific, or in other words specific to the western world.
According to Johns’ (2006) research into the field of the family-owned business, it has been increasingly found that that there has been a lot of research on the business enterprises but the researches on family owned business have slowly disappeared. This goes hand in hand with the real-life situation where the family-owned businesses are slowly losing their relevance and are being converted to a professionally managed business. James, Jennings, and Breitkruz suggested and invited other scholars to indulge in more research in the field to research into the subject to understand the association between family and their business (James, Jennings & Breitkruz, 2012). Another thing that is important to study in the field of family business particularly with respect to Asian countries is the role of context in shaping this family business. By context, it is meant over here the circumstances or conditions that influences or the influencing factors in the family business. It is important to note that although the overall characteristics and conditions of the business environment are similar to the countries present in the Asia Pacific region, there still exist subtle differences. .