Entrepreneurship and Innovation in Latin American Family Firms

2017 ◽  
pp. 497-516
Author(s):  
Verónica Baños-Monroy ◽  
Edgar Ramírez-Solís ◽  
Lucia Rodríguez-Aceves
Keyword(s):  
Latin American ◽  
Family Firms ◽  
Family Businesses ◽  
Policy Implications ◽  
American Family ◽  
Secondary Sources ◽  
Main Driver ◽  
Global Entrepreneurship

This chapter examines the role of entrepreneurship and innovation in the development of family businesses in Latin America. The socio-economic dynamics of such region is an interesting field for research, mainly because: it is a major manufacturing hub with growing importance in retail; it experienced a huge economical shift in the last ten years causing the growth of the middle class (an increase of 50 million people); family firms in the region are the main driver of growth and employment. The authors focused the analysis on Mexico due to its singular characteristics, making it a representative example of the region. Based on secondary sources, a characterization of the entrepreneurship and innovation in family owned and managed firms in the region is reviewed. Moreover, based on the Global Entrepreneurship Monitor database, the authors present some recent data related with entrepreneurship levels in the region and its impact in terms of innovation. Finally, public policy implications are provided in order to encourage entrepreneurship and innovation in family businesses.

Entrepreneurship and Innovation in Latin American Family Firms

2017 ◽  
pp. 104-123
Author(s):  
Verónica Baños-Monroy ◽  
Edgar Ramírez-Solís ◽  
Lucia Rodríguez-Aceves
Keyword(s):  
Latin American ◽  
Family Firms ◽  
Family Businesses ◽  
Policy Implications ◽  
American Family ◽  
Secondary Sources ◽  
Main Driver ◽  
Global Entrepreneurship

This chapter examines the role of entrepreneurship and innovation in the development of family businesses in Latin America. The socio-economic dynamics of such region is an interesting field for research, mainly because: it is a major manufacturing hub with growing importance in retail; it experienced a huge economical shift in the last ten years causing the growth of the middle class (an increase of 50 million people); family firms in the region are the main driver of growth and employment. The authors focused the analysis on Mexico due to its singular characteristics, making it a representative example of the region. Based on secondary sources, a characterization of the entrepreneurship and innovation in family owned and managed firms in the region is reviewed. Moreover, based on the Global Entrepreneurship Monitor database, the authors present some recent data related with entrepreneurship levels in the region and its impact in terms of innovation. Finally, public policy implications are provided in order to encourage entrepreneurship and innovation in family businesses.

Family firm CEOs: human capital and career success

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Maria Rita Blanco ◽  
Miguel Angel Sastre-Castillo ◽  
Maria Angeles Montoro-Sanchez
Keyword(s):  
Human Capital ◽  
Latin American ◽  
Quantitative Methods ◽  
Family Firms ◽  
Family Firm ◽  
American Family ◽  
Graduate Degree ◽  
Capital Theory ◽  
Content Type ◽  
The Way

PurposeThis article explores the influence of education and experience on the time to the top in family and non-family CEOs who work for Latin American family firms.Design/methodology/approachIn order to achieve these objectives, this study draws upon human capital theory as well as career and family firm literature. The careers of 129 CEOs of family firms who form part of the América Economía ranking were analyzed and quantitative methods were used.FindingsIn Latin American family firms, family CEOs reach the top faster than their non-family counterparts. In addition, the influence of human capital variables on the way to the top differs between the two groups. For family CEOs, obtaining a graduate degree delays the way to the top, while for non-family ones, it reduces the time to the top. As regards experience, for promoted family CEOs, the greater the percentage of the career spent in the organization they lead, the shorter the time to the top. No support was found for either the influence of having worked for just one firm or having had elite graduate education abroad, in multilatina CEOs.Practical implicationsIndividual career management suggestions for future CEOs as well as specific guidelines for talent managers are proposedOriginality/valueThis is the first study to explore the influence of human capital indicators on the time to the top in Latin American family firm CEOs.

Passing on the legacy: exploring the dynamics of succession in family businesses in Pakistan

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Asma AbdulRahim Chang ◽  
Muhammad Shujaat Mubarik ◽  
Navaz Naghavi
Keyword(s):  
Family Business ◽  
Succession Planning ◽  
Design Methodology ◽  
Family Firms ◽  
Family Members ◽  
Family Businesses ◽  
Content Type ◽  
Traditional Family ◽  
Interviewing Technique

PurposeBy taking the theory of entrepreneurial legacy as the baseline, this study explores the various aspects of succession planning in indigenous family businesses especially the role of female family members in succession and conflicts in family businesses.Design/methodology/approachThe study is qualitative in nature and adopts narrative inquiry to explore the aspects of succession planning. In doing so, the study utilizes an in-depth interviewing technique with nine participants who run their family-owned firms which are mostly in their second or third generation for analysis.FindingsThe findings are concurrent with the literature that indicates a lack of strategic succession planning although ordinary or natural succession does occur in some firms. The study also reports a lack of consideration for female members in succession, daughters in particular, for traditional family firms (FFs) in contrast to entrepreneurial FFs.Research limitations/implicationsThe study has many implications for family-owned firms in Pakistan as they need to align their family business with the theory of entrepreneurial legacy and its three strategic activities in order to ensure the longevity of their business.Originality/valueExploring how succession planning takes place in family indigenous family businesses and what is the role of female family members in succession and conflicts in family businesses are original contributions of this study.

The Law of Eurasian Economic Union: International Legal Discourse

2015 ◽  
Vol 3 (11) ◽  
pp. 0-0 ◽  
Author(s):  
Анатолий Капустин ◽  
Anatoliy Kapustin
Keyword(s):  
International Law ◽  
Latin American ◽  
Point Of View ◽  
The European Union ◽  
Secondary Sources ◽  
Eurasian Economic Union ◽  
Legal Nature ◽  
Economic Union ◽  
The Law

The article discusses the main features of the Law of the Eurasian Economic Union (EAEU) from the point of view of modern international law, its legal nature and place, and functions in the regulation of the Eurasian integration. The article investigates the importance of the Foundation agreement as the international legal basis of the Union and its legal system. The author conducts comparative law analysis of conceptual models of the integration law on the example of the European legal theories of the European Union and Latin American theories of law on regional economic integration. This article gives comprehensive international law characteristics of regulatory definitions and conceptual framework of the EAEU law. The author classifies contractual sources of the Union’s Law and reveals the relationship between them. The author shows the role of secondary sources of the Union’s Law — acts of intergovernmental bodies. The author does not only list the sources enumerated in the EAEU Treaty, but also makes a forecast about the role of other international law acts and norms in the development of the EAEU Law concept. The author draws the conclusion that the Union’s Law is of an international law nature.

scholarly journals Fit for the Future? The Cultural DNA of Spanish and Latin American Family Businesses

2021 ◽  
Vol 11 (1) ◽  
Author(s):  
Paco Valera ◽  
Neus Feliu ◽  
Ivan Lansberg
Keyword(s):  
Latin American ◽  
Family Business ◽  
Building Blocks ◽  
Family Businesses ◽  
American Family ◽  
Paradigm Shifts ◽  
Environment Changes ◽  
Spanish Speaking ◽  
Wide Range ◽  
The Future

We use the metaphor of biological DNA and its essential building blocks to describe generic and specific family business cultures and suggest that Spanish-speaking or "Latin" family businesses inherited four key cultural DNA building blocks—Trust, Loyalty, Authority and Justice—from historical Roman times. Like biological DNA, family businesses are forced to change when its environment changes. In this context, we discuss recent changes representing paradigm shifts to which family businesses relying on “Roman DNA” must adapt in order to be fit for the future. We draw upon our firm's 30 years of work consulting to Latin family businesses and present a wide range of supporting cases and stories.

scholarly journals Family members as hybrid owner-managers in family-owned newspaper companies: handling multiple institutional logics

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Börje Boers ◽  
Thomas Andersson
Keyword(s):  
Design Methodology ◽  
Family Firms ◽  
Family Members ◽  
Institutional Logics ◽  
Content Type ◽  
Secondary Sources ◽  
Study Approach ◽  
Empirical Material

PurposeThis article aims to increase the understanding of the role of individual actors and arenas in dealing with multiple institutional logics in family firms.Design/methodology/approachThis study follows a case-study approach of two family-owned newspaper companies. Based on interviews and secondary sources, the empirical material was analysed focussing on three institutional logics, that is, family logic, management logic and journalistic logic.FindingsFirst, the authors show how and in which arenas competing logics are balanced in family-owned newspaper companies. Second, the authors highlight that family owners are central actors in the process of balancing different institutional logics. Further, they analyse how family members can become hybrid owner-managers, meaning that they have access to all institutional logics and become central actors in the balancing process.Originality/valueThe authors reveal how multiple institutional logics are balanced in family firms by including formal actors and arenas as additional lenses. Therefore, owning family members, especially hybrid owner-managers, are the best-suited individual actors to balance competing logics. Hybrid owner-managers are members of the owner families who are also skilled in one or several professions.

scholarly journals Innovation through tradition in design-intensive family firms

2020 ◽  
Vol 24 (4) ◽  
pp. 823-839
Author(s):  
Stefano Magistretti ◽  
Claudio Dell’Era ◽  
Federico Frattini ◽  
Antonio Messeni Petruzzelli
Keyword(s):  
Family Firms ◽  
Success Factor ◽  
Content Type ◽  
Secondary Sources ◽  
The Past ◽  
Critical Success ◽  
Italian Design ◽  
Family Based ◽  
Use Of Knowledge

Purpose Several studies show that identity is a critical success factor in design-intensive industries, leading managers and executives to identify solutions that enable firms to simultaneously innovate while preserving their link with the past. Accordingly, scholars have recently revealed the role of the so-called innovation through tradition strategy. Thus, the purpose of this study/paper is to understand how design intensive firms may exploit knowledge pertaining to the past. Design/methodology/approach The research contributes to this line of inquiry by conducting a longitudinal analysis of two leading Italian design-intensive firms, B&B Italia and Cassina S.p.A. Specifically, through almost 30 h of interviews with 11 key informants and the analysis of various secondary sources, a unique database of over 900 products covering the period of 1960-2016 was developed. Findings The findings reveal that both firms leverage knowledge from the past mainly to preserve firm identity, as indicated by the two indicators used to capture the use of knowledge pertaining to the past (i.e., design tradition intensity and design tradition depth). In addition, the study shows that the values of these indicators significantly increase when ownership control shifts from family-based to fund-based. Originality/value The paper looks at design artifacts as a source of knowledge, exploring how they can support firms in reinforcing their identity. The original contribution to the design through traditional literature is in unveiling the product signs dimension of this particular innovation strategy.

Overcoming the Paternalistic Firm – Codetermined Family Businesses: A Paradox? Comparing Cases from Sweden and Germany

2020 ◽  
Vol 31 (4) ◽  
pp. 420-443
Author(s):  
Börje Boers
Keyword(s):  
Family Firms ◽  
Family Businesses ◽  
Comparative Case Study ◽  
Interpretive Case Study ◽  
The Family ◽  
Different Types ◽  
The Board Of Directors ◽  
Works Council

The purpose of this comparative case study is to understand codetermination in two family firms. Thereby, this study aims at exploring the role of employee-representatives in two non-listed family businesses. Empirically, this study draws on an interpretive case study of two family businesses. Its findings extend earlier research, by exploring and introducing the phenomenon of codetermination in the family business literature. Codetermination is explored with the perspective of paternalism as analytical lens. Theoretically, the study draws on the control-collaboration paradox which helps understanding the phenomenon of codetermination. The study reveals different types of codetermination, i.e., the works council and the board of directors. The implications of these types are highlighted and discussed. Findings highlight the need for professional governance structures in order to facilitate cooperation between family owners, the management, and employee representatives. Professional governance allows handling the paternalistic ideological underpinnings which can otherwise prevent continued firm success, leading to unsolved conflicts.

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