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This book explores the relationship between families, firms, and regions and the extent to which these relationships contribute to regional economic and social development. Although family business participation in economic activities has been a common phenomenon since pre-industrial societies, and its importance has evolved throughout time and across spatial contexts, the book suggests that these factors have often been neglected in family business and regional studies. Taking this research gap into account, the book aims to deepen our understanding of the role family firms play in the regional economy. In particular, it explores two seldom studied questions. Firstly, what role do family firms play in regional development? Secondly, how do formal and informal regional contexts shape family firm operations and performance? This book presents a model of "regional familiness" and uses themes such as productivity, networks and competitiveness to shed new light on family businesses. Moreover, it evaluates the juxtaposition and cross-fertilisation between family business and regional studies to encourage the cross-fertilisation of ideas, theories, and research methods between the two fields. Bringing together leading experts in entrepreneurship, regional economics and economic geography, this book will be valuable reading for advanced students, researchers and policymakers interested in family firms, regional studies and economic geography.
Entrepreneurship is very important for both entrepreneurs and economic development. It helps boost innovation and competitiveness in every country and facilitates the creation of new jobs and new opportunities, especially for family businesses and small and medium enterprises (SMEs). Both entrepreneurship and innovation constitute a subject that is both topical and timeless, since institutions and the various institutional processes have always affected a country’s sustainability. Entrepreneurial Development and Innovation in Family Businesses and SMEs is an essential scholarly publication that contributes to the understanding, improving and strengthening of entrepreneurial development, and innovation’s role in family businesses and SMEs by providing both theoretical and applied knowledge in order to find how and why entrepreneurship and innovation can produce inefficient and dysfunctional outcomes. Featuring a wide range of topics such as women entrepreneurship, internationalization, and organizational learning, this book is ideal for researchers, policymakers, entrepreneurs, executives, managers, academicians, and students.
Businesses owned and operated by families constitute the vast majority of firms around the world. These firms are found in all industrial segments, from retail and service establishments to heavy manufacturers. Their sizes and revenues range from the smallest venture of a husband and wife roadside food stall in rural India to the largest multinational, highly diversified corporations in the United States and Europe. Many challenges, such as competition, regulation, environmental concerns, access to capital, and macroeconomic factors confront family and nonfamily firms alike. In addition, family and closely-held firms grapple with such issues of succession, continuity, conflict resolution, identity and organizational roles, estate and financial planning that are idiosyncratic to them; when psychological, social, and emotional factors are in play, constantly changing familial relationships influence the strategic and financial choices they make. Yet, there has been comparatively little theoretical or empirical research undertaken on family firms, relative to entrepreneurship and strategic management. This book addresses gaps in the literature by presenting a holistic, multi-disciplinary approach to the study and practice of family business that draws from such fields as psychology, anthropology, sociology, strategy, family therapy, family studies, wealth management, and international business. An international array of experts addresses both macro issues (including the role of family businesses in new business creation and economic development, influences of culture on family business, public policies that can encourage or threaten family business) and firm management (strategic and financial decision making, governance, entering and exiting). Featuring case studies from firms in a variety of industries, Understanding Family Businesses not only offers provocative new insights on family business dynamics, but outlines an agenda for future research.
•The editors should be commended for developing a Map of the Landscape of Family Business Outcomes. It gives future research direction to the discipline considering both short-term profitability and long-term sustainability. It considers conventional c
Entrepreneurship is a key factor in economic growth, innovation, & the development of firms & businesses. Written by leading scholars, this book presents a comprehensive review of the research in entrepreneurship.
Navigate the complex decisions and critical relationships necessary to create and sustain a healthy family business—and business family. Though "family business" may sound like it refers only to mom-and-pop shops, businesses owned by families are among the most significant and numerous in the world. But surprisingly few resources exist to help navigate the unique challenges you face when you share the executive suite, financial statements, and holidays. How do you make the right decisions, critical to the long-term survival of any business, with the added challenge of having to do so within the context of a family? The HBR Family Business Handbook brings you sophisticated guidance and practical advice from family business experts Josh Baron and Rob Lachenauer. Drawing on their decades-long experience working closely with a wide range of family businesses of all sizes around the world, the authors present proven methods and approaches for communicating effectively, managing conflict, building the right governance structures, and more. In the HBR Family Business Handbook you'll find: A new perspective on what makes family businesses succeed and fail A framework to help you make good decisions together Step-by-step guidance on managing change within your business family Key questions about wealth, unique to family businesses, that you can't afford to ignore Assessments to help you determine where you are—and where you want to go Stories of real companies, from Marchesi Antinori to Radio Flyer Chapter summaries you can use to reinforce what you've learned Keep this comprehensive guide with you to help you build, grow, and position your family business to thrive across generations. HBR Handbooks provide ambitious professionals with the frameworks, advice, and tools they need to excel in their careers. With step-by-step guidance, time-honed best practices, and real-life stories, each comprehensive volume helps you to stand out from the pack—whatever your role.
Generation to Generation will help managers understand the special dynamics & challenges that family businesses face as they move through their life cycles. It explains how to handle succession, & the role of non-family professionals.
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Introducing a new concept in family businesses Transgenerational Entrepreneurship addresses how these businesses achieve growth and longevity through entrepreneurial activities. It focuses on the resources, capabilities and mindsets that families develop and draw upon in order to be entrepreneurial across generations, and presents findings from an international research collaboration between family business researchers and practitioners. In addition to a comprehensive conceptual chapter, the editors include a unique set of empirical case-based research papers that investigates transgenerational entrepreneurship in different European contexts. They bring together and integrate frontier research on entrepreneurship and family business, as well as provide a basis for future research. Academics, teachers and students in business and management, entrepreneurship and family business will find this path-breaking book of value, as will libraries, policy makers and consultants.
In this new textbook, Andrea Colli gives a historical and comparative perspective on family business, examining through time the different relationships within family businesses and among family enterprises, inside different political and institutional contexts. He compares the performance of family businesses with that of other economic organizations, and looks at how these enterprises have contributed to the evolution of contemporary industrial capitalism. Central to his discussion are the reasons for both the decline and persistence of family business, how it evolved historically, the different forms it has taken over time, and how it has contributed to the growth of single economies. The book summarises previous research into family business, and situates many aspects of family business - such as their strategies, contribution, failure and decline - in an economic, social, political and institutional context. It will be of key interest to students of economic history and business studies.