Creating Competitive Advantage in Scottish Family Businesses

2010 ◽  
pp. 230-251
Author(s):  
Claire Seaman ◽  
Stuart Graham
Keyword(s):  
Knowledge Transfer ◽  
Competitive Advantage ◽  
Family Business ◽  
Future Development ◽  
Business Environment ◽  
Family Businesses ◽  
High Quality ◽  
Diverse Environment ◽  
The Creation

This chapter seeks to consider both the role that knowledge transfer may have in family businesses and the different manners in which knowledge transfer may take place within this diverse environment. The economic, social and community importance of family businesses within Scotland is considered, alongside the different manner in which family businesses commonly operate and the implications for knowledge transfer. The importance of knowledge transfer in the creation of competitive advantage within a family business environment and the relatively limited nature of research in this area are explored, highlighting the need for further research both to support the on-going development of a strategy for family businesses in Scotland and to facilitate future development of high quality knowledge transfer. Key to all of this, however, is an increased understanding of what is meant by knowledge transfer and the breadth of ways in which it happens.

Knowledge transfer in family business successions

2015 ◽  
Vol 5 (1) ◽  
pp. 17-37 ◽  
Author(s):  
Britta Boyd ◽  
Susanne Royer ◽  
Rong Pei ◽  
Xiaolei Zhang
Keyword(s):  
Knowledge Transfer ◽  
Competitive Advantage ◽  
Family Business ◽  
Family Firms ◽  
Family Businesses ◽  
Theory And Practice ◽  
Future Research ◽  
Content Type ◽  
Business Environments ◽  
Theoretical Reasoning

Purpose – Knowledge often is the fundament for strategic competitive advantage. Thus, it is highly relevant to understand better how knowledge is transferred from one generation to the next in family businesses. The purpose of this paper is to link the competitive advantage realisation in family businesses to the success of transferring strategically valuable knowledge in different business environments to the next generation. Design/methodology/approach – Building on the contingency model of family business succession (Royer et al., 2008) knowledge transfer in family businesses from different cultures is investigated in this paper. From a resource-oriented and transaction cost inspired perspective two family businesses with a similar industry background from China and Europe are compared regarding knowledge transfer in the context of family firm succession taking into account the respective transaction atmosphere. Findings – Different successions for two long-lived family firms are illustrated in a systematic fashion: based on the theoretical elements suggested both cases are described to get insights into the usefulness of the theoretical reasoning developed. On the basis of these, the cases are compared with each other and conclusions for both cases are drawn. Implications for theory and practice as well as avenues for future research are sketched. Originality/value – The focus of the current study is to gain more insight into long-lived family businesses by comparing two cases over a period of more than 200 years with regard to strategically relevant resources as well as the underlying transaction atmospheres. Implications for family firms depending on the resource types and transaction atmosphere are discussed.

Developing Capabilities for Sustainability in Family Small Enterprises

2022 ◽  
pp. 583-600
Author(s):  
Ben Akume ◽  
Osarumwense Iguisi
Keyword(s):  
Family Business ◽  
Business Environment ◽  
Family Businesses ◽  
Business Success ◽  
Small Enterprises ◽  
Stewardship Theory ◽  
Business Sustainability ◽  
Advanced Economies ◽  
Medium Businesses ◽  
Depth Interviews

Though literature in family perpetuity and sustainability is well documented from the advanced economies, there is scarcity of insights from emerging markets where this research relates. The study, therefore, sought to investigate, understand, and interpret the underlying drivers of sustainability in small family businesses using the stewardship theory paradigm in the Nigerian family business environment. A qualitative method with 41 in-depth interviews involving owners and managers of family-owned small and medium businesses was conducted. The study empirically shows that there is an interrelationship between family structure and business sustainability; hence, the practice of polygamy was found to be inimical to family business success and sustainability. Building on the stewardship theory, the paper develops a model of sustainability for small and medium family businesses. The study contributes to the theoretical literature on stewardship and family business sustainability.

Family Business and Market Orientation

2011 ◽  
Vol 24 (3) ◽  
pp. 233-251 ◽  
Author(s):  
Miles A. Zachary ◽  
Aaron McKenny ◽  
Jeremy Collin Short ◽  
G. Tyge Payne
Keyword(s):  
Content Analysis ◽  
Strategic Management ◽  
Competitive Advantage ◽  
Market Orientation ◽  
Family Business ◽  
Family Businesses ◽  
Sustainable Competitive Advantage ◽  
Market Information

Market orientation refers to the collection, dissemination, and utilization of market information that promotes a sustainable competitive advantage. Despite the contribution of the market orientation construct to both the strategic management and marketing literatures, little attention has been devoted to exploring how market orientation relates to family businesses and how these relationships might differ from nonfamily businesses. To address this gap and stimulate further research in this area of inquiry, this study develops and validates a market orientation measure using content analysis of CEO letters from the S&P 500 and tests for differences between family businesses and nonfamily businesses.

scholarly journals THE ROLE OF ADULT VOCATIONAL EDUCATION IN BUSINESS ENVIRONMENT IN LATVIA

2020 ◽  
pp. 93-101
Author(s):  
Andra Zenčaka
Keyword(s):  
Higher Education ◽  
Vocational Education ◽  
Labour Market ◽  
Education System ◽  
Developed Countries ◽  
Business Environment ◽  
High Quality ◽  
Vocational Higher Education ◽  
The Creation

The decisive factor for the country's economic development is competitive workforce resources, for the preparation of which vocational education, its quality, compliance with the trends of economic sectors and the demand of the labour market are essential. One of the global socio-economic problems of the 21st century in developed countries is an aging population, due to the influence of which the importance of adult vocational education becomes significant, as changes in the demographic structure mean that labour market needs are increasingly being met by “silver” human resources. Currently, the demand in the labour market for employees with higher education dominates, pointing to the qualitative development of the labour market and the importance of professional higher education in the aspect of population aging. The authors conclude that the existing vocational education system needs to be improved, fully integrating adult education into it, which would serve as one of the basic elements of the support system for the creation of a high-quality state business environment and stimulate the achievement of the national economic goals. The aim of the article is to analyse the vocational education system and types of its acquisition in Latvia as one of the factors supporting the creation of a high-quality business environment that ensures the quality of the available workforce. As a result of the research, the authors have demonstrated the relevance between the implementation of vocational higher education and the quality of business environment. Recommendations for the implementation of high-quality vocational higher education are provided in order to ensure the compliance of the existing workforce with the requirements of the national economy and labour market and to create a high-quality business environment.

scholarly journals Effect of Entrepreneurial Networks on Family Business Development: A Conceptual Consideration

2018 ◽  
Vol 1 (2) ◽  
pp. 13-25
Author(s):  
Kenneth Chukwujioke Agbim
Keyword(s):  
Family Business ◽  
Resource Constraints ◽  
Business Environment ◽  
Business Development ◽  
Family Businesses ◽  
Entrepreneurial Networks ◽  
Professional Network ◽  
Start Up ◽  
Business Succession ◽  
Industry Network

Family businesses are generally affected by resource constraints. These resource constraints are occasioned by the vagaries in the business environment. Consequently, budding and established family business entrepreneurs are now resorting to the acquisition and sharing of intangible resources as a strategy for achieving family business development. One type of resource that is increasingly being employed is entrepreneurial networks. In spite of the known supports entrepreneurial networks give to entrepreneurs at the different states of family business development, empirical evidences are still rear. Based on the foregoing, this study undertook a literature review and thereafter proposes that: the effect of family network on family business start-up is significant; the effect of intra-industry network on family business formalization is significant; the effect of professional network on family business professionalization is significant; the effect of extra-industry network on family business diversification is significant; the effect of social network on family business internationalization is significant; and the effect of intra-firm network on family business succession is significant. For family business development to be influenced by entrepreneurial networks, budding entrepreneurs, founder and/or descendant CEOs and employees of family businesses need to be actively involved in network relationships that encourage and facilitates resource acquisition and sharing. Moreover, an empirical study is recommended based on these propositions. This is to validate the propositions and to further add to the family business development and entrepreneurial networks literature.

scholarly journals The Manifestation Of Familiness Resources And Psychological Capital As Familiness Capital: A Conceptual Analysis

2013 ◽  
Vol 12 (9) ◽  
pp. 1021 ◽  
Author(s):  
Rene Van Wyk
Keyword(s):  
Competitive Advantage ◽  
Family Business ◽  
Self Efficacy ◽  
Business Performance ◽  
Conceptual Analysis ◽  
Psychological Capital ◽  
Family Firm ◽  
Family Businesses ◽  
Outcome Variable ◽  
Optimal Functioning

The non-financial foundation of family business performance is largely under-researched. More clarity is needed to identify the theoretic origin and outcomes of the familiness concept. This conceptual analysis explores the non-financial competitive advantage of familiness functioning optimally as familiness capital (FamCap). The notion of familiness is explored in terms of psychological capital (PsyCap) with FamCap as outcome variable. Family businesses seem to nurture familiness resources in the form of the PsyCap constructs of self-efficacy, hope, optimism and resilience. These resources could advance the optimal functioning of FamCap. The presence of FamCap should sustain a positive competitive advantage in a family firm.

scholarly journals Conflict management strategies in family business

2021 ◽  
Vol 34 (1) ◽  
pp. 101-114
Author(s):  
Tanja Gavrić
Keyword(s):  
Knowledge Transfer ◽  
Conflict Management ◽  
Family Business ◽  
Family Relationships ◽  
Succession Planning ◽  
Management Strategies ◽  
Family Businesses ◽  
Transfer Of Knowledge ◽  
Conflict Situations ◽  
Crucial Information

Purpose: The aim of this paper is to determine, theoretically and empirically, which strategies are most commonly used to manage conflict situations and to what extent conflict management strategies have an effect on knowledge transfer between owners and successors in family businesses in Bosnia and Herzegovina. This research empirically establishes a link between conflict management strategies and knowledge transfer. Methodology: In addition to theoretical conceptualization, the paper presents quantitative empirical research confirming the validity of the proposed hypothesis. Results: The results of the research show that owners who tend to use the integrating, obliging and compromising conflict management strategies, attach more importance to succession planning and transfer of knowledge and experience to successors. In contrast, dominant leaders are less willing to plan for succession, as they would prefer to retain all the crucial information and decision-making authority and are therefore reluctant to share their knowledge and power. Conclusion: Relevant conflict management strategies can be implemented to help maintain family relationships and ensure business continuity. Learning effective conflict management techniques is important for anyone involved in a family business. Thus, managing conflict is important for the success and longevity of family businesses.

scholarly journals Sharing tacit business knowledge between founder and successor in family business: case studies in Vietnam

2018 ◽  
Vol 1 (1) ◽  
pp. 47
Author(s):  
Thanh Trung Pham ◽  
Robin Bell ◽  
David Newton
Keyword(s):  
Knowledge Transfer ◽  
Family Business ◽  
Transfer Process ◽  
Business Case ◽  
Family Businesses ◽  
Tacit Knowledge Transfer ◽  
Common Process ◽  
Business Knowledge ◽  
Transfer Method ◽  
Effective Transfer

<h1>The purposes of this study are to explore in detail the tacit business knowledge transfer process and the effective transfer method from founder to successor in Vietnamese family businesses. This study, using separate interviews of paired founders and successors in five Vietnamese family businesses, aims to contribute to the general understanding of such processes in South East Asian family businesses. This study confirms that the tacit business knowledge transfer process is an on-going process until the founder is unable to continue due to physical or mental health preventing further communication. In addition, it indicates that the mentor-mentee method is the most common method for tacit knowledge transfer process. Storytelling is also a common process; unlike traditional Western SMEs, use of formal documentation tends to be far less prevalent as a way of transferring knowledge. The findings of this study show that not all of tacit business knowledge from the founder is important to the successor. Therefore, a successor needs time spent alone to contemplate each tacit business lesson, before determining whether to absorb it. </h1>

scholarly journals Revealing the Third Generation Myth in Family Businesses

2020 ◽  
Vol 9 (1) ◽  
pp. 17-22
Author(s):  
Sabitha Rani Saraswati
Keyword(s):  
Data Collection ◽  
Knowledge Transfer ◽  
Family Business ◽  
Structured Interview ◽  
Family Businesses ◽  
Third Generation ◽  
Collection Method ◽  
The Third ◽  
The Family ◽  
A Company

A family Business is a company or business which is run and managed by a family. Hence, the purpose of this study is to find out the truth of the Third Generation myth in family businesses. This study uses a data collection method using a semi-structured interview. This research uses source triangulation method which aims to test the credibility of the data which is carried out by checking the data that has been obtained from several sources. In this study, samples will be taken from several sources. The resource person himself will be taken from the senior generation as the owner of the family businesses and the next generation. The results of this study states that the decline of family businesses did not occur solely because of the mistakes of the third generation. Therefore, the third generation myth is not true. Keywords: family business, trust, knowledge transfer, delegation, third generation

Developing Capabilities for Sustainability in Family Small Enterprises

2020 ◽  
Vol 1 (2) ◽  
pp. 9-23
Author(s):  
Ben Akume
Keyword(s):  
Family Business ◽  
Business Environment ◽  
Family Businesses ◽  
Business Success ◽  
Small Enterprises ◽  
Stewardship Theory ◽  
Business Sustainability ◽  
Advanced Economies ◽  
Medium Businesses ◽  
Depth Interviews

Though literature in family perpetuity and sustainability is well documented from the advanced economies, there is scarcity of insights from emerging markets where this research relates. The study, therefore, sought to investigate, understand, and interpret the underlying drivers of sustainability in small family businesses using the stewardship theory paradigm in the Nigerian family business environment. A qualitative method with 41 in-depth interviews involving owners and managers of family-owned small and medium businesses was conducted. The study empirically shows that there is an interrelationship between family structure and business sustainability; hence, the practice of polygamy was found to be inimical to family business success and sustainability. Building on the stewardship theory, the paper develops a model of sustainability for small and medium family businesses. The study contributes to the theoretical literature on stewardship and family business sustainability.

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