The purpose was to identify strategies for families to utilize to increase the success of both their business and their family based on analysis of data in the 1997 National Family Business Survey ...(1997 NFBS). Both the family system and the responses to disruptions had significant effects on gross revenue and owner's perceived success. Reducing family tension, living in a two- or three-generation family, reallocating time from sleep to the business and hiring temporary help during hectic periods increased business revenue. Owners who perceived their businesses as more successful slept less and hired temporary help during hectic periods in the business more than owners who perceived their businesses as less successful. Business assets, age of the business, personnel management, owner's weekly hours in the business, family employees and hiring temporary help were positively associated with increased achievements for both the business and the family. The family had a greater effect on the business than the business had on the family.
•We unpack the antecedents leading to high-quality relationships between successors and various family business stakeholders in India.•Five routes through which high quality relationships develop: ...mutual respect, trust, early affiliation, mentoring, and mutual obligation.•Leadership development in family business contexts characterized by collectivist and patriarchal features.
Little attention has been given to the role of interpersonal relationships in building the leadership skills of next-generation successors, with most literature focusing on the development of their business and technical skills. Drawing on Leader-Member Exchange (LMX) theory, we qualitatively explore how high-quality relationships develop between next-generation leaders and family and non-family stakeholders and how they impact leadership development. Findings from interviews with 24 next-generation leaders of family businesses in India show that high-quality relationships develop through mutual respect, trust, early affiliation with the business, mentoring, and mutual obligation. By exploring how high-quality relationships develop between next-generation family business leaders and family and non-family stakeholders, we contribute to a finer-grained understanding of successful intergenerational succession in family businesses. We also contribute to LMX theory by considering networks of relationships (and not just dyadic relationships) and by identifying two antecedents that are specific to family businesses (early affiliation with the business and mentoring) to the previously identified ones (trust, mutual respect, and mutual obligation).
A family business brand allows family-owned companies to leverage a valuable idiosyncratic resource: the family nature of the firm. A steadily growing body of research evidences the growing interest ...among both researchers and practitioners – understandably so, given that prior contributions have identified a range of positive organizational outcomes associated with family business branding. However, the lack of a unifying definition, an encompassing framework, and an adequate measure of a family business brand present important challenges for the advancement of the field. Applying a systems approach, we propose a multi-dimensional conceptualization of the family business brand that emerges from prior research and our own observations of actual family business branding practices. With this guiding framework, we hope to systemize and inspire future research to help facilitate growth in this area of work.
•Qualitative study exploring and investigating dimensions of family business efficacy (FBE) in family firms and the relationship with dynamic marketing capabilities and firm performance.•The study ...conceptualises a novel FBE construct consisting of eight dimensions.•FBE is positively associated with dynamic marketing capabilities.•FBE leads to family firm performance.
In today’s competitive environment, the growth and survival of family firms depend significantly on the extent to which they can build, extend, or reconfigure organisational capabilities in response to changing environments. Family members’ belief in their unified efforts to organise and execute courses of action can be instrumental in addressing business and marketing challenges and goals. This study aims to conceptualise a novel Family Business Efficacy (FBE) construct that is posited as a distinct form of efficacy at the collective level in family firms. The research employs a qualitative inductive design to investigate FBE of family businesses in Saudi Arabia and the UK. The findings identify eight dimensions of FBE that reflect family members’ beliefs regarding collective abilities to produce desired marketing outcomes for the family business. This paper contributes a conceptualisation of FBE as the basis for scale measurement and further empirical assessment of FBE on firm marketing performance.
Long-established family firms are endowed with a bundle of beliefs and practices that constitute their tradition. However, to remain competitive, they need to renew their products and production ...processes. Such forces pulling toward the past and the future, antithetically calling for continuity and change, seem paradoxical. In an abductive analysis of eight long-established family firms in Turkey, we identify four equifinal strategies to manage this paradox. Adopting a family imprinting perspective, we theorize how the long-lasting legacy of previous family generations shapes different approaches to innovation and tradition depending on the content imprinted on the current family generation. Contributing to family business, imprinting and innovation research, we identify the new construct of temporal symbiosis as a firm’s simultaneous adoption of retrospective and prospective approaches to using its resources to concurrently perpetuate tradition and achieve innovation, highlighting its crucial role as a shield of the past and engine for the future.
•FBR, JFBS, and JFBM are the three leading journals dedicated to family business.•Since 1988, 1381 articles on family firms have been published in these outlets.•This study presents a comprehensive ...bibliometric overview of these contributions.•The study also offers promising avenues for future research.
Family firms are the most ubiquitous form of business organization in any world economy. Family Business Review, Journal of Family Business Strategy, and Journal of Family Business Management are the three leading academic journals exclusively dedicated to this type of firms. Since the inception of the first of the three journals in 1988, these outlets published 1381 articles dealing with family business. This study offers a comprehensive bibliometric overview of these contributions, thereby providing a complete overview of family business research conducted in the three dedicated journals in this field, and laying the ground for future developments. We do not limit our effort to describe the field from a bibliometric perspective, but furthermore unearth the most debated topics, link thematically the aspects emerging from our review, and offer promising avenues for future research.
The field of CSR in family firms has experienced remarkable growth recently. Therefore, a literature review on the topic is needed to provide an updated overview of extant research and draw ...guidelines for future research. Using bibliometric mapping, we conducted a systematic literature review (SLR) on corporate social responsibility (CSR) in family business drawing on the Web of Science (WOS) and Scopus databases. The bibliographic coupling conducted suggests that family involvement, corporate governance, and sustainability are the most frequently studied topics. Furthermore, through our SLR, we systematized the studies into an interpretative framework, identifying the drivers and outcomes of CSR practices, processes, and strategies in family business. The study reveals and organizes the state-of-the-art of CSR research in family business, outlines important theoretical implications and develops a future research agenda.
La relevancia de la empresa familiar en la economía mundial la ha llevado a ser objeto de estudio desde diversos ámbitos y perspectivas. Sin embargo, el papel que juega la empresa familiar en el ...sector sanitario privado apenas ha sido analizado. El objetivo de este trabajo de investigación se centra en el estudio de la evolución histórica de la empresa familiar en el ámbito de la sanidad privada, intentando conocer la variación de la contribución de la misma al sector durante el periodo 1995-2018. Con este propósito, se construye una base de datos con los hospitales privados existentes en España, clasificándolos en familiares y no familiares para los años 1995 y 2018, realizando un análisis de corte transversal. Se observa un nivel de supervivencia de las empresas familiares de casi un 60%. Se propone implementar la metodología del estudio de casos en investigación futuras.
While progress has been made in recent years to understand the differences among family firms, insights remain fragmented due, in part, to an incomplete understanding of heterogeneity and the scope ...of differences that exist among family firms. Given this, we offer a definition of and review the literature on family firm heterogeneity. A latent semantic analysis of 781 articles from 33 journals identified nine common themes of family firm heterogeneity. For each theme, we review scholarly progress made and highlight differences among family firms. Additionally, we offer directions for advancing the study of family firm heterogeneity.
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