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1 Online-Ressource (XLI, 640 pages)
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I. INTRODUCTION 1.1 Objectives of the Book (Editors) II. STRATEGY AND BUSINESS TRANSFORMATION IN FBGS 2.1 Exit and Renewal in Family Business Portfolio. (Qualitative Naveed Akhter and Xavier Lesage) 2.2 Understanding the internationalization strategy of Family Businesses Groups: The case of (TBC) in Spain. (Qualitative, Alex Dawson and Maria José Parada) 2.3 Mapping the Corporate Strategies of Spanish Family Business Groups. (Quantitative, Xavier Mendoza, Maria José Parada and Marita Rautiainen) 2.4 Ambidexterity in Family Business Groups -- A Theoretical Perspective (Theoretical, Salvador Cerón, Cristina Cruz and Maria José Parada) 2.5 Business Group Capability and Institutional Development (Quantitative, Zhixiang Liang and Michael Carney) The main argument of the part II: Family business groups are ubiquitous, influential, and play a major role in national economies. Even though most of them are not really observed or studied, as the focus tends to be on single businesses, or single family businesses. Recent studies acknowledge the role of FBGs as a major business form (cf. Rautiainen et al., 2019), yet we still know relatively little about the strategic behavior of FBGs. It seems clear that FBGs grow using both organic and acquisition strategies, that many of the FBGs are actively diversifying their operations, and that they also start-up and exit businesses and redirect their business activities in other markets. Furthermore, the strategic renewal and the capability of FBGs to perform in economic changes is still largely unstudied. · Chapter 2.1 focuses on exit and renewal in family business portfolio by drawing on a case study research from France. This study will report three insights: First, family business portfolios due to family's close connection to the business engage in the resource management process that is to re-direct the resources back to the business portfolio while exiting subsequent businesses to restructure the business portfolio. Second, while exiting the subsequent businesses, family business portfolios provide the opportunity for the next generation of family owners start businesses to follow their passion. Finally, the resource management process triggers the business renewal of the family business portfolios providing opportunities to meet both internal (family) and external (market) demands. · Chapter 2.2 contributes to the FBG literature by shedding light from a qualitative perspective the decisions and process behind FBG development based on corporate strategies. Chapter also contributes to the internationalization literature in family firms by expanding current knowledge about family business internationalization decisions and processes and the role of governance mechanisms in decision making and implementation. By using a single case study, the chapter features a Spanish Family Firm that has internationalized its activities and has diversified its portfolio of businesses. · Chapter 2.3 presents an exploratory study which provides a profile of FBGs in Spain and map their corporate strategies in terms of: i) their starting business, product diversification strategy (related or unrelated) and industries in which they are more prevalent, ii) their degree of international diversification and their geographical footprint, and iii) the degree of control on their investee companies. The study follows a two-step procedure starting with the SABI database analysis to identify FBGs in Spain and obtain most of the information on their corporate strategies as well as use Amadeus and Orbis databases to complement the information on their international investee companies. Using statistical analysis, the study focuses on whether there are significant differences among FBGs according to their age, size, and ownership (public and privately-held). · Chapter 2.4 presents an ambidexterity perspective on Family Business Groups (FBGs), emphasizing the distinctive strategic behavior of families in business. The chapter conceptualizes ambidexterity as a strategy for business portfolio development and family continuity by effectively managing the tensions between exploitation and exploration. This chapter provides a thorough analysis of the ambidexterity literature applied to the context of family firms, as well as the intricate relationship between the decisions and routines that enable the exploitation and exploration of opportunities in FBGs, given the interdependencies between the family and the business dimensions. · Chapter 2.5 propose Business Groups (BGs) may represent an adaptive organizational form that co-evolve with national institutions in a manner that reinforces their capability building in both market and nonmarket aspects. The chapter seeks answers to three questions: (1) Beyond 'paragon or parasite', are there any more nuanced understanding between BG and the embedded institutions? (2) What contributes to BG's superior competitive advantages during the era of market transitions? (3) Consider why BGs persist and remain resilient even in the context of developed economies? By considering the moderation role of institutions, chapter augment the missing institutions perspective that the value of market and nonmarket capability would be enhanced or constrained by the growth of institutions, in both developing and developed economies. This approach complements current literature and provide a richer and balance understanding of the nature of the internalization of markets within BGs.III. INNOVATION STRATEGIES IN FBGS3.1 Parallel Innovation Strategies in Family Business Groups: Resource Intangibility and Internal Development (Conceptual, Naveed Akhter and Marita Rautiainen)3.2 Internal capital market and innovative performance: family versus non-family business groups. (Quantitative, Donato Iacobucci and Valentina Giannini)3.3 Open Innovation and Family Business Groups: Knowledge Flow Perspective. (Qualitative, Suvi Konsti-Laakso and Tuomo Uotila)3.4 Innovation Sourcing as a Strategy in Family Business Groups. (Qualitative, Marita Rautiainen, Naveed Akhter, Timo Pihkala) 3.5 Innovation in family business groups. (Qualitative, Sinha Sabyasachi) The main argument of the part III: Family business innovation has been found to form a paradox -- that is, family businesses seem to invest less in innovation activities, but they seem to get more out of innovation than non-family firms. Earlier research has been studying the origins and consequences of the paradox yet missing the perspective of family business groups. In this section, we take a closer look at the FBGs innovation practices. Due to the diversified business structures, family business groups are likely to conduct different innovation strategies than most family businesses. For example, FBGs have been found to operate parallel innovation strategies in distinct sections of the business group (Rautiainen et al. forthcoming). Furthermore, due to the need to utilize innovation opportunities, FBGs may operate open innovation practices within the FBG as well as with external partners. Finally, even if FBGs are assumed to be in better resource position, little is known about FBGs use of internal funding for innovation. Altogether, the FBGs´ use of internal innovation processes, innovation sourcing, joint ventures, and the like, are largely unstudied. · Chapter 3.1 is drawing on resource intangibility (e.g., knowledgebase, goodwill etc.), this chapter builds theory and presents a model on the innovation process of family business groups. Chapter argues that the influence of family's resource intangibility (internal development) contributes to the parallel innovative processes in family business groups as compared to the external development. To understand innovation in family firms, the need of understanding the process of innovation is inevitable, especially in business groups where firms innovate better than their unaffiliated counterparts. · Chapter 3.2 investigates which internal factors influence the innovative performance in business groups. Specifically, it focuses on the role of internal capital market and the ownership structure. For the latter aspect the study compares the performance of family and non-family business groups. The study uses R&D and patents belonging to the headquarters and affiliated firms as proxies for the innovative performance. The empirical part of the paper refers to European business groups.
Content:
Family business groups (FBGs) are ubiquitous, influential, and play a major role in national economies. While much of the current research around this topic has so far focused on emerging economies, more knowledge is needed on family business groups in developed economies; specifically, how they innovate, strategize, govern, and grow. Offering a comprehensive and global perspective on family business groups, this Handbook comprises international contributions from leading experts. Split into five sections, it covers strategy and business transformation; innovation strategies; management and governance; and new avenues for research on FBGs including the issues of sustainability and cultural alignment. An important resource for students and researchers of family business, strategy and management, this Handbook signals the emergence of the family business group phenomenon and solidifies research in this evolving area of study. Marita Rautiainen is Associate Professor in the School of Engineering Science at LUT University Finland. Maria Jose Parada is Associate Professor and Director in the Department of Strategy and General Management at ESADE, Spain. Timo Pihkala is Professor of Entrepreneurship in the School of Engineering Science at LUT University Finland. Naveed Akhter is Assistant Professor in Business Administration and Associate Dean of Education at CeFEO Jonkoping International Business School, Sweden. Allan Discua Cruz is Senior Lecturer and the Director of the Centre for Family Business and the masters programmes in Entrepreneurship and Strategy at Lancaster University Management School, UK. Kajari Mukherjee is Professor at the Indian Institute of Management, India
Note:
Data are taken from the Amadeus database. Using information from the annual reports of companies, it is possible to analyse the equity 'policy', i.e. the issue of new shares and the dividend distribution. The Amadeus database provides also information on the ownership structure of heads and affiliates. · Chapter 3.3 aims at discussing innovation in family business groups in the framework of open innovation. This chapter asks how open innovation takes place in a family business group? The chapter will include a thorough literature review on open innovation and innovation in family business groups. The study seeks to analyze how innovation travels through a family business group, so it attempts to take innovation (i.e technology development project) as a level of analysis. Empirical part will include multiple qualitative in-depth case studies. For family business group research, this chapter will increase the body of knowledge on open innovation practices in family business groups. Moreover, the study will shed light on the benefits of the group affiliation, group formation and lay grounds on further studies on the topic. For innovation research, the study highlights the innovation research´s need to consider group -and ownership perspective instead of single firm perspective. · Chapter 3.4 showcases family business groups innovation sourcing methods as well as their internal and external innovation strategies. The objective of the present exploratory study is to examine and understand family
Additional Edition:
ISBN 9783031132063
Additional Edition:
ISBN 3031132068
Additional Edition:
ISBN 303113205X
Additional Edition:
ISBN 9783031132056
Additional Edition:
ISBN 9783031132056
Additional Edition:
Erscheint auch als Druck-Ausgabe ISBN 9783031132056
Language:
English
Keywords:
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