5 research outputs found
Research Note Perceptions Are Reality: How Family Meetings Lead to Collective Action
Family meetings develop family unity through the creation of perceived shared beliefs. The article presents a model with strategic implications showing how shared beliefs lead to collective action, which leads to outcomes and then the reassessment of the shared beliefs. Finally, the article reports on initial research on the reliability of instruments developed to explore one aspect of this model: The creation of shared beliefs through family meetings. The initial results suggest that perceptions of shared beliefs may be an important stimulant of collective family activity
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Dynamic capabilities in a sixth generation family firm: entrepreneurship and the Bibby Line
In this paper we draw on the theory of dynamic capabilities to examine development of the only surviving family-owned Liverpool shipping company. The Bibby Line was founded in 1807 to take advantage of the growing sea-trade based in Liverpool. The company remained in shipping until the mid-1960s, when a series of external crises led the owner, Derek Bibby, to begin a process of diversification. In the last 50 years, the Bibby Line has grown into a £1bn business with interests in retail, distribution and financial services as well as a continuing commitment to shipping. Our intention is to demonstrate how multigenerational ownership contributes to the creation of dynamic capabilities in family firms. The distinctive nature of Bibby as a long-standing family business is related to unique assets such as patient capital, flexible governance structures as well as the ability to mobilise social and human capital