Pub Date : 2023-11-09DOI: 10.1108/jfbm-09-2023-0159
Thanh-Thao Luong, Cat-My Dang, Que Nguyet Tran
Purpose This study aims to identify various factors that have driven the knowledge transfer process for succession purposes in family business since the 1920s and discuss their implications for advancing effective succession planning in this business sector for the next 100 years. Design/methodology/approach The paper reviews and synthesizes current research on knowledge transfer drivers in family business from 1923 to 2023 and draws out future perspectives on what will influence the knowledge-transferring process in the next 100 years. Findings Trust, organizational culture and environmental factors such as the need to create competitive advantages, technological advancement and new sources of knowledge have been identified as the most prominent drivers of knowledge transfer for effective succession in family business throughout the 1920–2020s. In the future, the ability to create value, the internationalization process and business innovations will play an essential role in knowledge-sharing among family and non-family members during succession. Originality/value The paper provides a review of past development and a future perspective on factors enhancing the effectiveness of knowledge transfer for succession in family firms.
{"title":"Drivers of knowledge transfer for succession in family business: a perspective article","authors":"Thanh-Thao Luong, Cat-My Dang, Que Nguyet Tran","doi":"10.1108/jfbm-09-2023-0159","DOIUrl":"https://doi.org/10.1108/jfbm-09-2023-0159","url":null,"abstract":"Purpose This study aims to identify various factors that have driven the knowledge transfer process for succession purposes in family business since the 1920s and discuss their implications for advancing effective succession planning in this business sector for the next 100 years. Design/methodology/approach The paper reviews and synthesizes current research on knowledge transfer drivers in family business from 1923 to 2023 and draws out future perspectives on what will influence the knowledge-transferring process in the next 100 years. Findings Trust, organizational culture and environmental factors such as the need to create competitive advantages, technological advancement and new sources of knowledge have been identified as the most prominent drivers of knowledge transfer for effective succession in family business throughout the 1920–2020s. In the future, the ability to create value, the internationalization process and business innovations will play an essential role in knowledge-sharing among family and non-family members during succession. Originality/value The paper provides a review of past development and a future perspective on factors enhancing the effectiveness of knowledge transfer for succession in family firms.","PeriodicalId":51790,"journal":{"name":"Journal of Family Business Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135192940","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-07DOI: 10.1108/jfbm-09-2023-0158
Sukanlaya Sawang, Robbert Anton Kivits
Purpose This perspective article addresses the essential need to comprehend what artificial intelligence (AI) entails and how it can revolutionize the family business sector. Design/methodology/approach This article presents a literature review and the authors' perspectives to unravel the potential benefits of AI in family businesses. Findings It is crucial to understand what AI is and its various types before the authors can discern which AI tools can be beneficial or tailored to family businesses. A promising area for future research is the use of Theory of Mind AI, which can help minimize conflicts of interest among family business members and assist in clear decision-making and succession planning. However, integrating AI brings about ethical implications, such as data privacy concerns, the need for transparency in AI decision-making and the necessity to ensure fair AI practices. These are all critical issues that the future research will need to tackle. Originality/value This article emphasizes the potential of AI to be customized and incorporated to tackle the distinct dynamics, obstacles and opportunities prevalent in family-owned businesses. It also proposes future research areas that could enhance the application of AI in such enterprises.
{"title":"Revolutionizing family businesses with artificial intelligence: a perspective article","authors":"Sukanlaya Sawang, Robbert Anton Kivits","doi":"10.1108/jfbm-09-2023-0158","DOIUrl":"https://doi.org/10.1108/jfbm-09-2023-0158","url":null,"abstract":"Purpose This perspective article addresses the essential need to comprehend what artificial intelligence (AI) entails and how it can revolutionize the family business sector. Design/methodology/approach This article presents a literature review and the authors' perspectives to unravel the potential benefits of AI in family businesses. Findings It is crucial to understand what AI is and its various types before the authors can discern which AI tools can be beneficial or tailored to family businesses. A promising area for future research is the use of Theory of Mind AI, which can help minimize conflicts of interest among family business members and assist in clear decision-making and succession planning. However, integrating AI brings about ethical implications, such as data privacy concerns, the need for transparency in AI decision-making and the necessity to ensure fair AI practices. These are all critical issues that the future research will need to tackle. Originality/value This article emphasizes the potential of AI to be customized and incorporated to tackle the distinct dynamics, obstacles and opportunities prevalent in family-owned businesses. It also proposes future research areas that could enhance the application of AI in such enterprises.","PeriodicalId":51790,"journal":{"name":"Journal of Family Business Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135431907","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-07DOI: 10.1108/jfbm-08-2023-0145
Zoltán Kárpáti, Adrienn Ferincz, Balázs Felsmann
Purpose The purpose of this paper is to identify different types of resource and capability configurations among Hungarian family and nonfamily firms and explore which compositions can be considered competitive. In a rivalrous, dynamic world, understanding which sets of resources and capabilities lead to a higher level of competitiveness is vital. Design/methodology/approach This paper is based on a quantitative competitiveness survey carried out between November 2018 and July 2019 in Hungary. The authors used the Firm Competitiveness Index (FCI) to measure competitiveness and the resource-based view (RBV) approach to understand which configurations of resources and capabilities are responsible for a higher level of competitiveness based on 32 variables. An exploratory factor and cluster analysis were conducted to analyze the ownership's effect on firm competitiveness. The final sample size contained 111 companies, of which 53 were identified as family and 58 as nonfamily firms. Findings Factor analysis reveals five factors determining resources and capabilities: “operational,” “leadership,” “knowledge management,” “transformation” and “networking.” Based on these factors, the cluster analysis identified five groups in terms of types of family and nonfamily firms: “Lagging capabilities,” “Knowledge-based leadership,” “Innovativeness and transformation-oriented management,” “Relationship-oriented management” and “Business operation-oriented management.” Results show that nonfamily businesses focus on operational and leadership capabilities, reaching a higher FCI than family businesses, which are likely to invest more in their networking, transformation and knowledge management capabilities. Originality/value By defining the different configurations family and nonfamily firms rely on to reach competitiveness, the paper applies an essential element to the Hungarian and Middle Eastern European contexts of family business research. The findings contribute to developing family business literature and point out specific resources and capabilities family firms should focus on to shift toward reaching a higher level of professionalization and competitiveness. The characterization of different types of competitiveness comparing family and nonfamily firms enables the firms to assess customized implications.
{"title":"Relationship between different resource and capability configurations and competitiveness – comparative study of Hungarian family and nonfamily firms","authors":"Zoltán Kárpáti, Adrienn Ferincz, Balázs Felsmann","doi":"10.1108/jfbm-08-2023-0145","DOIUrl":"https://doi.org/10.1108/jfbm-08-2023-0145","url":null,"abstract":"Purpose The purpose of this paper is to identify different types of resource and capability configurations among Hungarian family and nonfamily firms and explore which compositions can be considered competitive. In a rivalrous, dynamic world, understanding which sets of resources and capabilities lead to a higher level of competitiveness is vital. Design/methodology/approach This paper is based on a quantitative competitiveness survey carried out between November 2018 and July 2019 in Hungary. The authors used the Firm Competitiveness Index (FCI) to measure competitiveness and the resource-based view (RBV) approach to understand which configurations of resources and capabilities are responsible for a higher level of competitiveness based on 32 variables. An exploratory factor and cluster analysis were conducted to analyze the ownership's effect on firm competitiveness. The final sample size contained 111 companies, of which 53 were identified as family and 58 as nonfamily firms. Findings Factor analysis reveals five factors determining resources and capabilities: “operational,” “leadership,” “knowledge management,” “transformation” and “networking.” Based on these factors, the cluster analysis identified five groups in terms of types of family and nonfamily firms: “Lagging capabilities,” “Knowledge-based leadership,” “Innovativeness and transformation-oriented management,” “Relationship-oriented management” and “Business operation-oriented management.” Results show that nonfamily businesses focus on operational and leadership capabilities, reaching a higher FCI than family businesses, which are likely to invest more in their networking, transformation and knowledge management capabilities. Originality/value By defining the different configurations family and nonfamily firms rely on to reach competitiveness, the paper applies an essential element to the Hungarian and Middle Eastern European contexts of family business research. The findings contribute to developing family business literature and point out specific resources and capabilities family firms should focus on to shift toward reaching a higher level of professionalization and competitiveness. The characterization of different types of competitiveness comparing family and nonfamily firms enables the firms to assess customized implications.","PeriodicalId":51790,"journal":{"name":"Journal of Family Business Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135432028","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-07DOI: 10.1108/jfbm-09-2023-0163
Eduardo Terán-Yépez
Purpose This perspective article aims to provide an overview of the interplay between international entrepreneurship and the dynamics of family businesses, with a particular focus on post-entry decisions. Design/methodology/approach This paper is based on a short literature review. Findings The convergence of international entrepreneurship and family businesses presents a compelling area of study, where post-entry decisions serve as a critical yet underexplored facet. Post-entry decisions in international entrepreneurship for family-owned businesses encompass responses to international crises and shocks and strategies for de-internationalization, restructuring or market exit. Originality/value This article synthesizes existing research, highlighting the importance of studying post-entry decisions in the realm of international family businesses. It encourages scholars and practitioners to delve into the unique challenges faced by these firms, ultimately enriching the understanding of international entrepreneurship within the family business context and providing valuable insights for both theory and practice.
{"title":"Post-entry decisions in international entrepreneurship and family business: a perspective article","authors":"Eduardo Terán-Yépez","doi":"10.1108/jfbm-09-2023-0163","DOIUrl":"https://doi.org/10.1108/jfbm-09-2023-0163","url":null,"abstract":"Purpose This perspective article aims to provide an overview of the interplay between international entrepreneurship and the dynamics of family businesses, with a particular focus on post-entry decisions. Design/methodology/approach This paper is based on a short literature review. Findings The convergence of international entrepreneurship and family businesses presents a compelling area of study, where post-entry decisions serve as a critical yet underexplored facet. Post-entry decisions in international entrepreneurship for family-owned businesses encompass responses to international crises and shocks and strategies for de-internationalization, restructuring or market exit. Originality/value This article synthesizes existing research, highlighting the importance of studying post-entry decisions in the realm of international family businesses. It encourages scholars and practitioners to delve into the unique challenges faced by these firms, ultimately enriching the understanding of international entrepreneurship within the family business context and providing valuable insights for both theory and practice.","PeriodicalId":51790,"journal":{"name":"Journal of Family Business Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135432030","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-03DOI: 10.1108/jfbm-10-2023-0198
Franklin Nakpodia
Purpose The governance of family businesses has attracted considerable scrutiny among scholars and practitioners. This paper explores influences that have defined corporate governance practices in family firms in the last century and reflects on the possible direction of research and practice in the next century. Design/methodology/approach This manuscript undertakes a literature review of past and recent literature investigating corporate governance practices within family businesses. Findings The evolution of corporate governance in the family business literature is underpinned by centralised decision-making structures, the need to overcome fundamental corporate governance challenges, the increasing relevance of family governance models and the recognition and adoption of contemporary trends in the corporate governance space. The review also suggests that corporate governance and family business research in the next century will be dominated by technology-based governance, sustainable governance, globalisation and the validation for multi-board structures, greater attention to succession planning and diversity, and channelling significant resources to innovation. Originality/value The paper synthesises developments in the corporate governance–family business literature and proposes a future perspective.
{"title":"Corporate governance and family business: a perspective article","authors":"Franklin Nakpodia","doi":"10.1108/jfbm-10-2023-0198","DOIUrl":"https://doi.org/10.1108/jfbm-10-2023-0198","url":null,"abstract":"Purpose The governance of family businesses has attracted considerable scrutiny among scholars and practitioners. This paper explores influences that have defined corporate governance practices in family firms in the last century and reflects on the possible direction of research and practice in the next century. Design/methodology/approach This manuscript undertakes a literature review of past and recent literature investigating corporate governance practices within family businesses. Findings The evolution of corporate governance in the family business literature is underpinned by centralised decision-making structures, the need to overcome fundamental corporate governance challenges, the increasing relevance of family governance models and the recognition and adoption of contemporary trends in the corporate governance space. The review also suggests that corporate governance and family business research in the next century will be dominated by technology-based governance, sustainable governance, globalisation and the validation for multi-board structures, greater attention to succession planning and diversity, and channelling significant resources to innovation. Originality/value The paper synthesises developments in the corporate governance–family business literature and proposes a future perspective.","PeriodicalId":51790,"journal":{"name":"Journal of Family Business Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135777696","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-30DOI: 10.1108/jfbm-10-2023-0173
Almudena Otegui Carles
Purpose The purpose of this research is to delve into the scientific literature on hotel housekeepers in family hotel businesses to suggest new research directions in this field. Design/methodology/approach This paper is based on a concise literature review to discuss the past and future of research on family hotel business. Findings Research on family hotel businesses and the relationships and working conditions of their employees is limited. Most studies are focused on family businesses in general, without specific emphasis on a particular sector, or a specific job within each sector, or the type of company within a sector. Originality/value This paper synthesizes existing research on family businesses, particularly family hotel businesses, to delve into work conditions in both fields. It seeks to establish connections with the job conditions of hotel housekeepers as a means of addressing some of the challenges they face in their working environment.
{"title":"Hotel housekeepers in family hotel business: a perspective article","authors":"Almudena Otegui Carles","doi":"10.1108/jfbm-10-2023-0173","DOIUrl":"https://doi.org/10.1108/jfbm-10-2023-0173","url":null,"abstract":"Purpose The purpose of this research is to delve into the scientific literature on hotel housekeepers in family hotel businesses to suggest new research directions in this field. Design/methodology/approach This paper is based on a concise literature review to discuss the past and future of research on family hotel business. Findings Research on family hotel businesses and the relationships and working conditions of their employees is limited. Most studies are focused on family businesses in general, without specific emphasis on a particular sector, or a specific job within each sector, or the type of company within a sector. Originality/value This paper synthesizes existing research on family businesses, particularly family hotel businesses, to delve into work conditions in both fields. It seeks to establish connections with the job conditions of hotel housekeepers as a means of addressing some of the challenges they face in their working environment.","PeriodicalId":51790,"journal":{"name":"Journal of Family Business Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136018767","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-30DOI: 10.1108/jfbm-09-2023-0164
John Rice, Muhammad Mustafa Raziq, Anestis Fotiadis
Purpose The purpose of the paper is to provide some insights into the importance of family business in the transition of the Gulf Cooperation Council (GCC) region into a diversified, modern economic region. Design/methodology/approach This is a viewpoint paper, bringing together recent relevant academic and industry literature combined with the authors' observations of emerging regional trends. Findings The authors find that family businesses have been an anchor of private sector economic development in the GCC. Family businesses across the region reflect both the challenges and opportunity of the context. Recent social and economic changes present challenges to the historical ways of operation, and yet they also present opportunities. Originality/value This paper is intended to be thought provoking and insightful for those in the region and those with an interest in the region. The unique social, historical and economic characteristics of the region are discussed along with their impact on family businesses.
{"title":"Family business in the Arabian Gulf region","authors":"John Rice, Muhammad Mustafa Raziq, Anestis Fotiadis","doi":"10.1108/jfbm-09-2023-0164","DOIUrl":"https://doi.org/10.1108/jfbm-09-2023-0164","url":null,"abstract":"Purpose The purpose of the paper is to provide some insights into the importance of family business in the transition of the Gulf Cooperation Council (GCC) region into a diversified, modern economic region. Design/methodology/approach This is a viewpoint paper, bringing together recent relevant academic and industry literature combined with the authors' observations of emerging regional trends. Findings The authors find that family businesses have been an anchor of private sector economic development in the GCC. Family businesses across the region reflect both the challenges and opportunity of the context. Recent social and economic changes present challenges to the historical ways of operation, and yet they also present opportunities. Originality/value This paper is intended to be thought provoking and insightful for those in the region and those with an interest in the region. The unique social, historical and economic characteristics of the region are discussed along with their impact on family businesses.","PeriodicalId":51790,"journal":{"name":"Journal of Family Business Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136019262","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-23DOI: 10.1108/jfbm-09-2023-0162
Vanessa Ratten, James J. Chrisman, Michael Mustafa, Salvatore Sciascia, Claire Seaman, Allan Discua Cruz, Feranita Feranita
Purpose This article provides commentary from well-known family business researchers on what they have learnt about the family business field and tips for the future. Design/methodology/approach Well-known family business management researchers were contacted in order to provide their feedback on the field of family business management. Their responses were then curated into an article that can help others learn from their advice. Findings The family business management researchers provided suggestions on how to succeed in the field of family business management and advice for current and future researchers. Thereby helping to advance the field and provide new novel research ideas that can help science as well as practice. Originality/value This article is amongst the first to provide verbatim advice from the leading family business management scholars. Thus, providing original and innovative ideas about what is needed in the field of family business management.
{"title":"Learning from family business researchers","authors":"Vanessa Ratten, James J. Chrisman, Michael Mustafa, Salvatore Sciascia, Claire Seaman, Allan Discua Cruz, Feranita Feranita","doi":"10.1108/jfbm-09-2023-0162","DOIUrl":"https://doi.org/10.1108/jfbm-09-2023-0162","url":null,"abstract":"Purpose This article provides commentary from well-known family business researchers on what they have learnt about the family business field and tips for the future. Design/methodology/approach Well-known family business management researchers were contacted in order to provide their feedback on the field of family business management. Their responses were then curated into an article that can help others learn from their advice. Findings The family business management researchers provided suggestions on how to succeed in the field of family business management and advice for current and future researchers. Thereby helping to advance the field and provide new novel research ideas that can help science as well as practice. Originality/value This article is amongst the first to provide verbatim advice from the leading family business management scholars. Thus, providing original and innovative ideas about what is needed in the field of family business management.","PeriodicalId":51790,"journal":{"name":"Journal of Family Business Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135365216","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose This study aims to investigate the favourable conditions that influence transgenerational value transmission (TVT), value acceptance and value similarity between generations in indigenous African business-owning families. Design/methodology/approach This study adopts a multiple case study design and draws on semi-structured face-to-face interviews to collect data from participants in seven indigenous Black business-owning families located in South Africa. The software ATLAS.ti was utilised to manage the data and reflexive thematic analysis was undertaken. Findings The analysis reveal four themes describing how transmission factors facilitate favourable conditions for successful TVT in IBSA business-owning families, namely, authoritarian parenting, a loving and connected family relational climate, the continuous reinforcement of autonomy during childhood development and family authenticity in the face of societies dominant values climate. Furthermore, value similarity is perceived to exist among the different family generations in the business-owning families. Originality/value This study is among the first to adopt the value acquisition model to empirically examine successful TVT and examine the extent of value similarity or dissimilarity, using the business-owning family as the unit of analysis. Novel contributions to family business literature and practices are proposing a model for TVT in an African context and studying relationships from a business-owning family perspective. The model for TVT could be used to socialise the NextGen members into value sets and behaviours that help business-owning families preserve their entrepreneurial legacy and family business longevity.
{"title":"Transgenerational value transmission in business-owning families: an indigenous African perspective","authors":"Welcome Kupangwa, Shelley Maeva Farrington, Elmarie Venter","doi":"10.1108/jfbm-06-2023-0091","DOIUrl":"https://doi.org/10.1108/jfbm-06-2023-0091","url":null,"abstract":"Purpose This study aims to investigate the favourable conditions that influence transgenerational value transmission (TVT), value acceptance and value similarity between generations in indigenous African business-owning families. Design/methodology/approach This study adopts a multiple case study design and draws on semi-structured face-to-face interviews to collect data from participants in seven indigenous Black business-owning families located in South Africa. The software ATLAS.ti was utilised to manage the data and reflexive thematic analysis was undertaken. Findings The analysis reveal four themes describing how transmission factors facilitate favourable conditions for successful TVT in IBSA business-owning families, namely, authoritarian parenting, a loving and connected family relational climate, the continuous reinforcement of autonomy during childhood development and family authenticity in the face of societies dominant values climate. Furthermore, value similarity is perceived to exist among the different family generations in the business-owning families. Originality/value This study is among the first to adopt the value acquisition model to empirically examine successful TVT and examine the extent of value similarity or dissimilarity, using the business-owning family as the unit of analysis. Novel contributions to family business literature and practices are proposing a model for TVT in an African context and studying relationships from a business-owning family perspective. The model for TVT could be used to socialise the NextGen members into value sets and behaviours that help business-owning families preserve their entrepreneurial legacy and family business longevity.","PeriodicalId":51790,"journal":{"name":"Journal of Family Business Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135365872","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-13DOI: 10.1108/jfbm-09-2023-0157
Andrew Birkbeck, Lisa Rowe
Purpose This paper aims to explore the past and future impacts of automation on family businesses, with a focus on the opportunities for human capital empowerment. Design/methodology/approach This paper draws upon a contemporary literature search to examine a range of scholarly and practitioner perspectives of the challenges and benefits of automation, exploring the evolvement towards hyperautomation and the empowerment of human capital in family businesses. Findings Automation, transforming to hyperautomation, general purpose artificial intelligence (AI) and beyond has the possibility of radically improving productivity. Fear of job obsolescence has been present since the birth of modern automation, and whilst some jobs are at risk of redundancy, a net gain towards higher-skilled labour is already evident. Family business leaders must be prepared to react appropriately to the accelerating war for talent by implementing a strategy for human capital empowerment. Originality/value This unique paper synthesises developments in automation and proposes a future perspective centred upon the empowerment of human capital in family businesses.
{"title":"Navigating towards hyperautomation and the empowerment of human capital in family businesses: a perspective article","authors":"Andrew Birkbeck, Lisa Rowe","doi":"10.1108/jfbm-09-2023-0157","DOIUrl":"https://doi.org/10.1108/jfbm-09-2023-0157","url":null,"abstract":"Purpose This paper aims to explore the past and future impacts of automation on family businesses, with a focus on the opportunities for human capital empowerment. Design/methodology/approach This paper draws upon a contemporary literature search to examine a range of scholarly and practitioner perspectives of the challenges and benefits of automation, exploring the evolvement towards hyperautomation and the empowerment of human capital in family businesses. Findings Automation, transforming to hyperautomation, general purpose artificial intelligence (AI) and beyond has the possibility of radically improving productivity. Fear of job obsolescence has been present since the birth of modern automation, and whilst some jobs are at risk of redundancy, a net gain towards higher-skilled labour is already evident. Family business leaders must be prepared to react appropriately to the accelerating war for talent by implementing a strategy for human capital empowerment. Originality/value This unique paper synthesises developments in automation and proposes a future perspective centred upon the empowerment of human capital in family businesses.","PeriodicalId":51790,"journal":{"name":"Journal of Family Business Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135804915","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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