Social Networking and the Family Business Performance: A Conceptual Consideration

Researchers and practitioners are divided on the preferred measures of business performance, largely due to the quality of available financial data and the measurability of the non-financial indicators. However, owing to the embeddedness of social networking in families and in the business world, this study reviews the contribution of social networking to the financial and non-financial performance of family businesses. The study is based on a review of 55 peer-reviewed published journal articles. Consequently, the most frequently used social networking platforms, the measures of financial performance, the measures and proxies of non-financial performance and the differences between financial and non-financial performance were identified. The study proposes the use of both financial and non-financial measures in assessing the performance of family businesses due to their complementary roles

Social Network and Family Business Internationalization in South Eastern Nigeria

Social network relationships through social associations, clubs and social networking platforms are known to facilitate family business internationalization. However, this has not been empirically brought to the fore with respect to the family businesses in Nigeria. Owing to the commonplaceness of social networks and family businesses in South Eastern Nigeria and their involvement in cross border business, this study seeks to examine the effect of social network on the internationalization of family businesses in the zone. The study adopted survey design. Proportionate stratified random sampling and simple random sampling techniques were employed to determine the sample size. The generated data via questionnaire were analyzed using linear regression. The results show that the effect of social network on family business internationalization is significant and positive. The study therefore lends itself as a veritable empirical evidence and support to the Uppsala Internationalization Process Model. To promote cross border business, the researchers recommends the sensitization of family business founder/CEOs or descendant/CEOs on the need to belong to both national and international social associations. This social relationship has the potential of: fostering in founder/CEOs the use of social network platforms for communication; exposing the founder/CEOs to international business knowledge/experience; and linking founder/CEOs to foreign partners, investors, funds, facilities and markets

Characteristics and Performance of Family Businesses in Wuse Market, Abuja, FCT Nigeria

The unprecedented uncertainties in the Nigerian business environment is negatively impacting business operations and performance. Yet, literature on the association between business characteristics and the financial and non-financial performance of family trading businesses in the Nigerian context is overtly and seemingly scant. Again, family trading businesses are prevalent in Wuse market; one of the largest markets in Abuja, FCT. Taken together, this study seeks to investigate the effects of business characteristics on the financial and non-financial performance of family trading businesses in the market. A cross-sectional survey research design, and criterion and systematic sampling techniques were adopted to collect data from 211 founder/CEOs and the descendant/CEOs of family trading businesses in the market via questionnaire. The generated data were subjected to linear regression analysis. The results showed positive and significant effects. The study concludes that the computation of the overall performance of the businesses based on financial and non-financial performance measures show higher overall performance than when they are computed using financial performance measures alone. Education of the founder/CEOs and descendant/CEOs on how to keep financial records of business transactions, collect the non-financial data based on the non-financial performance measures, and how to use same for the computation of non-financial performance were recommended. The researcher advocates a replication of the study in other contexts using an expanded scope and qualitative or triangulation method

Assessing the Effect of Knowledge Acquisition on Competitive Advantage: A Knowledge-Based and Resource-Based Study

The sustainability of competitive advantage is known to be influenced by knowledge-based threats like imitation, substitution, hold-up and slack.  Strategic management researchers have relied on the “resource-based view” and the “knowledge-based view” to explain how to avoid these threats since tangible/intangible assets and intangible capabilities contribute to the achievement of competitive advantage. This reasoning has further given rise to the question “why do some firm’s outperform others?” Thus, owing to the increase in the employment of knowledge workers, the use of Information and Communication Technology (ICT) in service delivery, and the upsurge in the number of hotels in the hospitality industry in Benue State, this study assessed the relationship between knowledge acquisition and competitive advantage. The study adopted ex-post-facto research design and multi-stage sampling technique to select the elements that completed the questionnaire from the population of employees of the selected hotels. The validity and reliability of the questionnaire was confirmed using Kaiser-Mayer-Olin (KMO), Bartlett and Cronbach alpha tests.  Linear regression statistical method was employed to test the research hypothesis. It was found that knowledge acquisition is significantly related to competitive advantage.  In view of this, hoteliers and hotel managers should employ ICT systems, skilled knowledge workers and all other relevant knowledge management resources that will further help to enhance knowledge acquisition. At every point in time, efforts should be made to acquire modern and latest systems and to improve employees’ skills through training and retraining. Again, a cordial relationship between employees/managers and customers/the general public should be encouraged to ensure free flow of relevant information/knowledge from the customers/public to the organization. Keywords: Knowledge acquisition, Competitive advantage, Knowledge-based view, Resource-based vie

Impact of Business Environmental Scanning Behaviour on the Entrepreneurial Performance of Micropreneurs: A Conceptual Framework

Today, business enterprises are generally immersed in a competitive and constantly changing environment. Research has shown that one way through which micropreneurs learn about the environment is Business Environmental Scanning (BES). However, most studies in BES behaviour [i.e., Degree of Interest (DOI) and Frequency of Scanning (FOS)] seem to have focused more on the medium sized and large enterprises, thereby neglecting the microenterprises. More so, it has been established that changes in the environment cause more uncertainties in microenterprises than in the medium sized and large enterprises. These changes ultimately affect the BES behaviour and Entrepreneurial Performance (ENP) of the microenterprises. This effect is influenced by the Entrepreneur and Enterprise Characteristics (IEC/ETC). Thus, this study reviewed extant literature to develop a framework with the following propositions: degree of interest is positively related to entrepreneurial performance; frequency of scanning is positively related to entrepreneurial performance; the relationship between the degree of interest and entrepreneurial performance is moderated by individual entrepreneur characteristics; the relationship between frequency of scanning and entrepreneurial performance is moderated by individual entrepreneur characteristics; the relationship between the degree of interest and entrepreneurial performance is moderated by enterprise characteristics; and the relationship between the frequency of scanning and entrepreneurial performance is moderated by enterprise characteristics. Micropreneurs can thus enhance their ENP by increasing their DOI/FOS and improving on their IEC/ETC. Again, empirical studies using this conceptual framework are suggested so as to validate the propositions and their generalization. Keywords: Individual entrepreneur characteristics, Enterprise characteristics, BES behaviour, Entrepreneurial performanc