Entrepreneurial Behavior as Learning Processes in a Transgenerational Entrepreneurial Family

Within the extant body of literature, little is known as to how transgenerational entrepreneurial families develop entrepreneurial mind-sets in order to create value across generations. Accordingly, this chapter aims to explore the role of the family ownership group in entrepreneurial behavior by examining the entrepreneurial learning process in a transgenerational entrepreneurial family. In achieving this aim, the 4I organizational learning framework by Crossan et al. (An organizational learning framework: From intuition to institution. Academy of Management Review 24 (3): 522-537, 1999) is adapted as a theoretical lens. The empirical evidence that draws upon evidence from a detailed longitudinal case study illustrates the interjectory influence of the family ownership group within this process, suggesting that entrepreneurial learning in a transgenerational family firm is embedded at the family group level and reproduced and co-created as a result of resilient entrepreneurial behavior

Defining family business: a closer look at definitional heterogeneity

Researchers have used a myriad of different definitions in seeking to explain the heterogeneity of family firms and their unique behavior; however, no widely-accepted definition exists today. Definitional clarity in any field is essential to provide (a) the basis for the analysis of performance both spatially and temporally and (b) the foundation upon which theories, frameworks and models are developed. We provide a comprehensive analysis of prior research and identify and classify 82 definitions of family business. We then review and evaluate five key theoretical perspectives in family business to identify how these have shaped and informed the definitions employed in the field and duly explain family firm heterogeneity. Finally, we provide a conceptual diagram to inform the choice of definition in different research settings

Family businesses from emerging markets and choice of entry mode abroad: insights from Indian firms

Internationalization of family businesses (FBs) is an interesting topic that has received extensive attention in the literature during the last decades. Prior studies emphasized the conservative attitude toward risk of FBs. However, studies addressing international decisions of emerging-market FBs (EMFBs) are still scarce. We investigate whether home and host countries matter when EMFBs choose the entry mode abroad. By doing so, we discern whether they follow the same behavioral pattern as developed-country multinational enterprises (MNEs) or they show a distinctive strategic behavior. Drawing on a sample of 298 foreign market entries carried out by Indian MNEs, our results show that Indian FBs prefer acquisitions instead of greenfield investments. Moreover, host country factors matter, since outward foreign direct investment (OFDI) of Indian FBs in developed markets is associated with a preference for acquisitions, whereas OFDI in developing countries is associated with greenfield investments

Strategieprozesse in Familienunternehmen: Strategische Implikationen einer dynamischen Umwelt

Das Schweizer Medizintechnik-Unternehmen Ypsomed hat die Nachfolge von der ersten in die zweite Generation erfolgreich realisiert. Der Gründer, ein innovativer Unternehmer, hat das Unternehmen vor allem durch die weltweit erste Insulinpumpe geprägt und vorangetrieben. Der Markt der Medizintechnik gerät immer stärker unter Druck. Die Digitalisierung verändert die Kundenanforderungen auch im Bereich des Gesundheitswesens. Der Familien-CEO steht vor der Entscheidung, wie sich das Unternehmen zukünftig aufstellen muss, um am Markt bestehen zu können und vor allem die Innovationsführerschaft nicht zu verlieren. Das unternehmerische Erbe des Gründers soll genauso erhalten bleiben wie die Innovations- und Erneuerungskraft des Unternehmens. Die Innovationsstrategie des Unternehmens soll offen für neue Ideen und Impulse sein, aber auch strukturierten Prozessen folgen. Da das Unternehmen an der Schweizer Börse gelistet ist, müssen auch die Shareholder, welche eine Internationalisierungsstrategie bevorzugen, berücksichtigt werden. Welche Maßnahmen des strategischen Managements genutzt werden können, um dieses Ziel zu erreichen, beschäftigt den Unternehmer und erfordert entsprechende Entscheidungen

Innovativeness in family firms: Effects of positive leadership styles

WOS: 000444687500012Family business is an unique kind of business, that can be depicted by an ownership structure mostly dominated by members of a particular family, shared familial norms and values and a shared way of thinking accumulated over a long period of time. This socioemotional wealth of the family owning the family business and overlapping family and business goals make them more harmonious, ambitious, hard working and more engaged regarding both their familial and business goals. In family a firm, central decision making that is accumulated on the hands of founder owners and their desire for further growth result in an inclination to respond quickly to opportunities that have the probability to provide economic gains which will be useful for both the owner family and the business itself. Moreover, sustainability and long run performance in these kind of companies are significant both business goals and family honor. And in this paper it is claimed that like other firms, family businesses, also prefer to benefit from innovation for economic growth due to the fact that innovation is an activity that is fast in financial return. That is to say, engaging in innovation process is both difficult and time consuming, but once a company accomplished to innovate a certain product or service, financial returns of this accomplishment are highly satisfying and rapid. And in this process, as in the case with other kind of businesses, proper style of leadership is an important factor in motivating employers to engage in innovation processes, and unique characteristics of family businesses and antecedents of an innovative work atmosphere effects this proper leadership style