Journal of Family Business Management最新文献

Purpose

This paper highlights the opportunities and challenges for family firms in managing Generation Z (Gen-Z) employees. This perspective article explores several considerations for family firms in managing their Gen-Z employees and the potential implications for their socioemotional wealth (SEW).

Design/methodology/approach

The authors provide a brief review of what is known about the values/work habits of Gen-Z employees and attracting, retaining and managing nonfamily employees in family firms.

Findings

The unique values, motivations and working styles of Gen-Z employees suggest the need for family business leaders to adopt a different approach to managing these employees. A focus on Gen-Z’s psychological contract, technological savviness and entrepreneurial orientation is provided with respect to how they can be managed.

Originality/value

The authors suggest the importance of approaching NFEs as a heterogenous group and offer avenues for future research with prospective research questions to better understand nonfamily Generation Z employees’ place in the family firm.

Purpose

Family businesses play a pivotal role in the world’s economy, contributing to 70% of its GDP. Their success in the current environment demands the enactment of entrepreneurial and innovative competencies to catalyse organizational growth and performance. In this context, corporate entrepreneurship may help these organizations advance their competitive advantage. The systematic analysis of the past 50 years of research reveals that a broad range of variables may moderate relationships among antecedents, outcomes and corporate entrepreneurship. This article aims to explore future avenues of research that will contribute to a better understanding of corporate entrepreneurship in family firms.

Design/methodology/approach

This paper is based on the systematic research.

Findings

While the synergy between corporate entrepreneurship and family business has gained attention, the intricacies and nuances within this intersection remain largely unexplored due to the diverse nature of corporate entrepreneurship and family enterprises. Future research endeavours in this domain should aim to explore fundamental aspects, including refining the definition of corporate entrepreneurship, understanding its interplay with familiness, socioemotional wealth, national and organizational culture and other various family-related factors such as the composition of the top management team, organizational size, diversity and attitudes towards risk.

Research limitations/implications

By outlining the key variables such as familiness, socioemotional wealth, generational involvement and cultural factors, the paper guides future research efforts. Researchers and practitioners can use these identified variables as focal points for deeper investigation and analysis when exploring the dynamics of corporate entrepreneurship within family businesses.

Practical implications

Family firm managers may apply instruments like the Corporate Entrepreneurship Assessment Instrument together with other instruments like the Family Influence Familiness Scale (FIFS) and the FIBER instrument to obtain an indication of a firm’s likelihood of being able to successfully implement an entrepreneurial climate within the firm.

Social implications

Family businesses represent 70% of the world’s GDP, therefore, improving the understanding of how corporate entrepreneurship augments their resilience and competitiveness, may contribute to the well-being of 60% of the global workforce.

Originality/value

The paper synthesizes the research in corporate entrepreneurship in family businesses and proposes a future perspective.

Purpose

The deeper understanding of the disclosure of external and internal dynamics of family firms necessarily places the issue of sustainability as one of the most pressing needs from both a research and managerial perspective. Therefore, this perspective article contributes to the debate of sustainability performance disclosure in family firms, proposing a research agenda.

Design/methodology/approach

This study has organized the discussion around those elements that most significantly impact the propensity to disclose, with a specific focus on the interconnections and interrelations within them. The proposed research agenda is developed around three key elements: “how” firms disclose, “the reason why” they do it and “what” disclose of their performance(s).

Findings

To better understand “how” family firms should disclose their performance, it is suggested to engage in proactive stakeholder engagement to preserve long-term socioemotional wealth. “The reason why” for disclosure is still associated with the legitimization of family firms from an economic, social and environmental point of view. Finally, the “what” depends on several factors, such as the regulatory framework and the market involved.

Practical implications

This paper contains suggestions for family firm managers, consultants and policymakers that are approaching corporate social responsibility (CSR) and non-financial reporting or sustainability disclosure overall, providing an overview of relevant factors influencing this transition process.

Originality/value

This paper suggests a logical framework to combine these three elements of the debate as strictly interrelated to foster the sustainability performance disclosure of family firms.

Purpose

The purpose is to provide a brief summary on the current research development regarding the role of in-laws in family firms’ continuity. Additionally, I provide a perspective on the trends on the research regarding the in-laws involvement and influence in preparing future generations of family firms’ owners/managers. At the end, I conclude on what should be the relevant issues to be explored and researched in the future.

Design/methodology/approach

In this paper, I review the literature on the role of in-laws on the family business continuity, particularly, I emphasize the involvement of in-laws in family firms. I found that this topic of family business continuity has not widely researched and the role of in-laws on the future of the family firm has been underestimated in the extant literature. I provide a brief summary on the trends related the involvement of in-laws in the family business continuity and, at the end, I give my conclusions on what should be a research agenda regarding this topic.

Findings

Despite previous research, the question of the role of in-laws in family firms remains unanswered from the business-owning family perspective, nor from the in-laws’ perspective. The previous research has raised more questions on this topic. Clearly, the research landscape is vast, and scholars’ callings to find better ways to identify family members are totally justifiable.

Originality/value

Based on the literature review, it can be argued that one of the topics with high potential for future research and development is related to the role of in-laws in the family business continuity, either because they are passively included as part of the family group, without acknowledgment on their involvement or because governance policies have formally excluded them. In this review, I highlight the influence of the in-laws in the family business continuity; particularly, their role in preparing future generations of family firms owners/managers and imprinting them with the family values, culture and believes.

Purpose

This paper explores the potential for family businesses (FBs) to play a pivotal role in advancing the United Nations (UN) Sustainable Development Goals (SDGs). It seeks to elucidate how FBs' inherent strengths and values can be harnessed to integrate sustainable practices within their operational paradigms.

Design/methodology/approach

The authors employed a literature review to synthesize all the information and identify how FBs' desire to pass on a healthy company to future generations encourages sustainable practices.

Findings

FBs have the potential to contribute significantly to not only their own sustainability but also the broader well-being of society by aligning with the SDGs.

Originality/value

This paper provides practical insights for stakeholders, policymakers and business leaders seeking to foster a more inclusive and environmentally responsible economic landscape.

Purpose

Through this exploration, this article seeks to contribute to facilitate a greater female participation in power and leadership positions in the context of succession by presenting perspectives in research and practical implications for both family firms and business families.

Design/methodology/approach

Literature review of seminal work on women’s involvement in the leadership succession of family firms and systematic reviews related to the topic published in the last 15 years.

Findings

Past research shows that the landscape of gender inclusion in the context of succession has evolved, offering women more access to leadership positions in family firms. Perceptions of women as invisible in business or playing emotional roles in the family, shifted to leaders, managing family business. However, access to leadership positions is not equitable to all regions and women leaders still face significant challenges to achieve legitimacy and recognition inside and outside the organisation. Future research should contribute to the enhancement of gender inclusion in leadership of family firms. Action research and interventions in both family firms and business families are ways to achieve this.

Originality/value

This paper elaborates on new research avenues and provides practical insights into how to enhance gender inclusion in the context of succession at both business family and family firm’s realms.

Purpose

The individual perspective of dynamic capabilities and family firms could be useful to shed light on the relationship between these topics, considering not only the heterogeneity of family businesses but above all the diversity of their collaborators, highlighting the underlying elements through which these firms are sustained.

Design/methodology/approach

This paper is based on systematic research, considering the most relevant literature about dynamic capabilities and family firms.

Findings

Findings highlight the individual perspective of dynamic capabilities and family firms, where we identify the main elements that family businesses must be aware of to be more innovative: high knowledge management/social capital, high entrepreneurial mindset/orientation, high tradition (retrospective and prospective), high empowering leadership, high next generation involvement, extended SEW (long-term perspective), risk-neutral, low conservative/inertia/paternalism and low emotionally attached.

Originality/value

The paper analyzes relevant studies on dynamic capabilities and family firms, proposing a research agenda with questions for further inquiries that cover inertia, paternalism, digital transformation and the individual perspective of dynamic capabilities and family firms. In addition, the authors provide practical implications for these topics.

Purpose

This perspective article underscores the importance of conducting studies that examine the African philosophy of Ubuntu among indigenous African family businesses. The article summarises the understanding of the role of Ubuntu in indigenous African family businesses and explores potential pathways for further investigations to understand existing cultural and economic differences that could contribute to family business heterogeneity.

Design/methodology/approach

The article adopts an analytical and interpretative approach to existing literature in family businesses and Ubuntu philosophy. The approach helps to evaluate the role of Ubuntu philosophy in indigenous African family businesses. Ubuntu was chosen for examination in this article because it is a fundamental African value commonly acceptable in Africa.

Findings

The article emphasises the need to deepen the current understanding of the African philosophy of Ubuntu, highlighting the role this philosophy could play in shaping and positioning indigenous African family businesses for long-term success. This perspective article calls for integrating indigenous African philosophies into other knowledge systems to advocate for a better understanding of the institutional structures in indigenous African family businesses. Additionally, as businesses increasingly operate in a global context and more indigenous family businesses enter the formal global economic environments, non-indigenous business stakeholders and practitioners must gain an understanding of a diverse cultural perspective, such as Ubuntu.

Originality/value

This article highlights the importance of African philosophies in understanding business organisations by highlighting the need for family business scholars to investigate the role of Ubuntu in indigenous African family businesses. The perspective article proposes sample research questions and areas for exploring Ubuntu in indigenous African family businesses, which could offer new avenues to understand the cultural and economic differences embedded in indigenous African family business context.

Purpose

Family business sustainability is a critical issue. This study considers if adopting a strategic entrepreneurship orientation can support the sustainability of a family business.

Design/methodology/approach

A qualitative approach is used, in which semi-structured interviews were conducted with twelve family business owners. Data collected during the interviews provides insights into understanding, practices, motivations, behaviours and attitudes relating to sustainability.

Findings

Although awareness of sustainability processes and procedures is found to be low, sustainability is important to the family business. However, sustainability is not managed or implemented systematically.

Originality/value

The paper presents a new model to describe the sustainability practices of family businesses. Adoption of strategic entrepreneurship is advocated as mechanism for improving sustainability. Practical and policy implications are suggested to enhance the effectiveness of sustainability initiatives in family business settings.

Purpose

The primary aim is to renew academic discourse on financial education in business families. It emphasizes the need for effective financial literacy programs to foster a healthier relationship with money, addressing both technical aspects of finance and its psychological and relational impacts among family members.

Design/methodology/approach

This perspective article explores the impact of money education within business families. It discusses the psychological effects of money education on family dynamics and decision-making in family businesses. The research draws on previous studies, surveys and practical examples to highlight the importance of financial education and its implications on family and business sustainability.

Findings

Financial education is essential in business families as it enables more meaningful discussions on money and wealth, fostering informed decisions and decreasing conflict. Yet, it is often overlooked. There is a need for academic research into effective strategies for financial education for family members and the effects of financial literacy, or its absence, on various aspects of the business and the family system. The article presents a selection of pertinent questions for future research in this domain.

Originality/value

This article contributes to the family business field by underscoring the gap in scholarly research on money education within family businesses. It advocates for comprehensive financial education strategies that balance technical knowledge with an understanding of the psychological and relational aspects of money.