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Author: Jörn Block
Publisher: Springer Science & Business Media
ISBN: 3834984124
Category : Business & Economics
Languages : en
Pages : 268
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Book Description
Family firms are commonly assumed to be more long-term oriented than comparable non-family firms. Joern Block analyzes this phenomenon in more detail and investigates whether and under which conditions family firms pursue more long-term oriented strategies than other firms.
Author: Jörn Block
Publisher: Springer Science & Business Media
ISBN: 3834984124
Category : Business & Economics
Languages : en
Pages : 268
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Book Description
Family firms are commonly assumed to be more long-term oriented than comparable non-family firms. Joern Block analyzes this phenomenon in more detail and investigates whether and under which conditions family firms pursue more long-term oriented strategies than other firms.
Author: Joern H. Block
Publisher: Gabler Verlag
ISBN: 9783834919595
Category : Business & Economics
Languages : en
Pages : 250
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Book Description
Family firms are commonly assumed to be more long-term oriented than comparable non-family firms. Joern Block analyzes this phenomenon in more detail and investigates whether and under which conditions family firms pursue more long-term oriented strategies than other firms.
Author: Vanessa Diaz Moriana
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Family firms manage for the long run. In effect, family firms have a long-term orientation (LTO), which is defined as the propensity of a firm to prioritise long-term implications that materialise only after an extended period of time. LTO is manifested in the organisational mind-set of the firm and more visibly through the firm's strategic decision-making. Building on the multi-dimensional LTO construct (i.e., futurity, continuity and perseverance) proposed by Lumpkin and Brigham (2011), this exploratory study investigates: (1) how LTO manifests in multi-generational family firms, (2) its influence on the entrepreneurial orientation (EO) of the firms and (3) its association with non-economic goals. Through a stewardship lens, this thesis explores four in-depth case studies of multi-generational (second to seventh generation) Irish firms. This study makes important contributions to research in the field. First, it brings temporality to the forefront of family business research by exploring a temporal construct grounded in the family business field. It is the first case study-based empirical examination of the LTO construct and proposes a set of codes to capture its distinct dimensions of futurity, continuity and perseverance in multi-generational family firms. Second, this study explores the influence of LTO on the EO of the firms and shows that paradoxical tensions permeate family firms' strategic decision-making. These tensions surface when innovativeness, proactiveness or risk-taking conflict with family goals. Third, this study finds that the non-economic goals pursued by the firms are family-centred and require a long-term perspective, and consequently, they influence the decisions made by the firms in line with long-term thinking. The findings are captured in a set of propositions developed to stimulate further research.
Author: M. Nordqvist
Publisher: Edward Elgar Publishing
ISBN: 1849805466
Category : Business & Economics
Languages : en
Pages : 237
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Book Description
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.
Author: Dina L. Taylor
Publisher:
ISBN:
Category : Business planning
Languages : en
Pages : 102
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Book Description
Family businesses are driven by economic and noneconomic goals that tie back to the wealth of the family members and firm. Thus, more studies have shown interest in examining the long-term perspectives of family firms and the factors that contribute to their desire to achieve transgenerational wealth. A long-term orientation is a mindset of the dominant coalition of family members that changes over time. However, there is a dearth of empirical studies that have tested the antecedents and outcomes of long-term orientation (LTO) and its relevant contingencies. This dissertation examined LTO in two essays to address this gap. The purpose of Essay 1 was to examine the antecedents of LTO in family businesses through stewardship theory and agency theory. This study employed 238 shareholder letters and secondary data sources through content analysis to examine the antecedents of LTO in family firms. The findings suggested that family involvement is positively associated with LTO. Additionally, the findings suggested that CEO incentives, nonfamily CEO tenure, and CEO ownership have negative relationships with an LTO. The purpose of Essay 2 was to empirically examine the relationship between LTO and family firm performance through the resource-based view (RBV). This LTO–performance relationship is mediated by innovativeness because the LTO of the dominant coalition catalyzes to identify resources for innovation. Additionally, the relationship between LTO and innovativeness may be moderated by board governance and environmental factors because the mindset of the dominant coalition may change to adapt to these factors. This study examined 249 shareholder letters and secondary data to determine the influences that LTO has in family firms. This study predicted that LTO does have a significant influence on the dominant coalition’s decision making. As such, an LTO mindset will adapt to different governance structures in the firm, as well as to the changes in the external environment. This study proposed to show that innovativeness is positively associated with LTO and firm performance.
Author: Ritch L. Sorenson
Publisher: Edward Elgar Publishing
ISBN: 1782547541
Category : Business & Economics
Languages : en
Pages : 255
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Book Description
•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
Author:
Publisher:
ISBN: 9781282631960
Category :
Languages : en
Pages :
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Book Description
Author: Danny Miller
Publisher: Harvard Business Press
ISBN: 9781591394150
Category : Business & Economics
Languages : en
Pages : 330
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Book Description
Fidelity, Hallmark, Michelin, and Wal-Mart are renowned industry powerhouses with long leadership track records. Yet these celebrated companies are united by another factor not generally equated with competitive success: They are all family-controlled businesses. While many view the hallmarks of family businesses—stable strategies, clan cultures, and unencumbered family ownership—as weaknesses, Danny Miller and Isabelle Le Breton-Miller argue that it is these very characteristics that create formidable competitive advantages for many such firms. Managing for the Long Run draws from a worldwide study of enduring, family-run organizations—including Cargill, Timken, L.L. Bean, The New York Times, and IKEA—to reveal their unconventional success strategies and how these strategies can be adopted and applied in any organization. Miller and Le Breton-Miller show how four driving passions of family-run firms—command, continuity, community, and connection—give rise to a set of practices that defy modern management thinking yet ensure a company’s long term competitive advantage. Outlining how these practices can enhance strategic efforts from operations to brand leadership to innovation, this book shows what every company must do to manage for the long run.
Author: Maximilian Lantelme
Publisher: Springer Nature
ISBN: 3658423757
Category : Business & Economics
Languages : en
Pages : 349
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Book Description
This book studies the long-term development of the 250 largest family and non-family enterprises in Germany between 1958 and 2018. In particular, the continuities and discontinuities of the companies’ ownership structure, operations and solvency are examined. Historical methods are used to advance the understanding of the attributed long-term orientation of family firms in family business research. The collected data of the 250 largest enterprises of 1958 provide the most comprehensive historical overview of the industrial landscape of this period. The long-term analyses show that more than half of the companies fail and less than a quarter keeps their ownership structure in the observation period of 60 years. In this timeframe, family-owned businesses have relatively stable ownership structures and superior survival rates compared to public companies although the latter experience higher growth rates. A listing of a family firm leads to the discontinuity of the family’s majority ownership in the mid- to long-term. Furthermore, company types like foundation-owned enterprises and foreign subsidiaries show even higher survival rates. The book closes with practical implications based on the identified development patterns of the surviving and failed enterprises.
Author: Dr. Florinda Matos
Publisher: Academic Conferences Limited
ISBN: 1914587154
Category : Business & Economics
Languages : en
Pages :
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Book Description
