scholarly journals Levers of family firms’ resilience in times of crisis

2021 ◽  
Vol 1 (3) ◽  
pp. 1-6
Author(s):  
Sami Basly
Keyword(s):  
Family Firms ◽  
Organizational Form ◽  
Significant Component ◽  
Academic Literature ◽  
Landscape Research ◽  
Economic Landscape

Although the academic literature argues that family firms are more resilient than non-family firms, the reasons for this presumed superiority are still not clearly identified. In addition, while family firms are a significant component of the economic landscape, research has evidenced variations in this organizational form such that some family firms seem to be more resilient than others. The following reflection will seek to provide some elements of analysis of the resilience of these companies in times of crisis.

scholarly journals Internationalization of family firms-challenges and opportunities in Russia

2021 ◽  
Vol 18 (4) ◽  
pp. 207-217
Author(s):  
Shab Hundal ◽  
Tatyana Kauppinen
Keyword(s):  
International Business ◽  
Family Firms ◽  
New Ventures ◽  
Structured Interview ◽  
Theoretical Perspectives ◽  
Challenges And Opportunities ◽  
Mass Privatization ◽  
Set Up ◽  
Economic Landscape ◽  
Taxation System

The family firms (FFs), especially the small and medium-sized enterprises (SMEs), play an instrumental role in the economic spectrum of the Russian economy with respect to their contribution to income, output, and employment, ceteris paribus. The FFs not only contribute the domestic business activities but also make a significant contribution to international business. Ever since the launch of the mass privatization program (MPP) in Russia during 1992–1994 numerous disruptions on the business and economic landscape of Russia have emerged, and as a result, the FFs in Russia have been experiencing several new opportunities and challenges in the international market. However, it is noticeable that corporate regulatory, and corporate governance systems do not even clearly define the FFs. The current study explores the following research objectives. First, the motivation of internationalization of FFs in Russia; second, their process of internationalization, and third, the problems and challenges faced by the FFs. Different theoretical perspectives have been discussed to problematize and analyze the research objectives of the study. The current qualitative study is based on the semi-structured interview method. As many as ten FF entrepreneurs, representing five different industries, have been analyzed. The findings show that there is neither clarity nor unanimity of the very meaning and understanding of FFs in Russia. The lack of regulated bank credit and the existence of a complex taxation system dissuade the FFs from investing in new ventures and undertaking innovative activities. Similarly, the government’s directives to set up business operations at certain specified business facilities, at the exorbitant costs though, has created downward pressure on the profitability of FFs. Many FFs have initiated their international business activities owing to their growing linkages with the external contingencies, developed over time. Similarly, internationalization has increased the competitiveness of the FFs in the Russian domestic market too.

scholarly journals Internationalization of family firms-challenges and opportunities in Russia

2021 ◽  
Author(s):  
Shab Hundal ◽  
Tatyana Kauppinen
Keyword(s):  
Significant Contribution ◽  
Family Firms ◽  
Ceteris Paribus ◽  
Russian Economy ◽  
Family Enterprises ◽  
Governance Systems ◽  
The Family ◽  
Challenges And Opportunities ◽  
Mass Privatization ◽  
Economic Landscape

The family firms (FFs) play an instrumental role in the economic spectrum of the Russian economy with respect to their contribution to income, output, and employment, ceteris paribus. The FFs not only contribute the domestic business activities but also make a significant contribution to international business. Ever since the launch of the mass privatization program (MPP) in Russia during 1992–1994 numerous disruptions on the business and economic landscape of Russia have emerged, and as a result, the FFs in Russia have been experiencing several new opportunities and challenges in the international market. However, it is noticeable that corporate regulatory, and corporate governance systems do not even clearly define the FFs. The current study explores the following research objectives: first, the motivation of internationalization of family enterprises in Russia, second, their process of internationalization, and third, the problems and challenges faced by the family enterprises

Islamic Tourism in South Africa

2014 ◽  
pp. 585-599 ◽  
Author(s):  
M. Noor Davids
Keyword(s):  
South Africa ◽  
South African ◽  
Emerging Market ◽  
Critical Question ◽  
Significant Component ◽  
South African Society ◽  
Historical Presence ◽  
Economic Landscape ◽  
External Forces ◽  
Muslim Culture

New economic opportunities emerged during the post-apartheid period in South Africa. Tourism was one sector that presented untapped potential to its citizens and the global community. This sector became one of the key generators of economic activity, and “halal tourism,” also referred to as Islamic tourism, developed as part of this emerging market. Research in Islamic tourism is still in its infancy, but due to the historical presence of Muslims, Islamic culture has always been regarded as an integral part of the South African cultural heritage. Evidence that Islamic tourism is an emerging sector is the recently convened conference on “halal tourism” in South Africa. Islamic tourism cannot be understood without an appreciation of the history of Muslims in South Africa. Since their arrival as political exiles and slaves beginning in 1652, Muslims struggled against colonialism and oppression, and today, their vibrancy is visible in the cultural, social, and economic landscape of South African society. The critical question that informs this chapter is, What is the potential of Islamic tourism in South Africa? Through a theoretical lens, tourism is viewed from a postmodern perspective that critiques the dominant homogenous views of Islam and Muslims. While Muslim culture evolved over time, it changed into a hybrid of cultural and religious confluences shaped by internal and external forces. Muslim culture consequently forms a significant component of the national heritage and is an integral part of the tourism industry. This chapter locates the manifestation of Islam in the context of tourism, arguing for its viability as a significant component of an emerging global Islamic tourism market.

Finance managers in family firms: an upper-echelons view

2017 ◽  
Vol 7 (2) ◽  
pp. 207-220 ◽  
Author(s):  
Martin R.W. Hiebl
Keyword(s):  
Design Methodology ◽  
Family Firms ◽  
Keyword Search ◽  
Current Knowledge ◽  
Future Research ◽  
Journal Articles ◽  
Upper Echelons ◽  
Content Type ◽  
Academic Literature ◽  
Upper Echelons Theory

Purpose Informed by upper echelons theory, the purpose of this paper is to synthesize the current knowledge on finance managers in family firms and to suggest valuable future research avenues. Design/methodology/approach The paper is organized as a theory-informed literature review. Based on a keyword search in electronic databases, 17 journal articles that deal with finance managers in family firms were identified. In light of upper echelons theory, the results of these articles were analyzed and future research needs were identified. Findings Overall, the current knowledge on finance managers in family firms is scant and fragmented. At the same time, this paper’s review findings indicate that finance managers can play decisive roles in family firms, which is why we need further research on their roles. Upper echelons theory is suggested in this paper as a theoretical framework that is well suited to guide such further research. Originality/value This is the first review of the academic literature on finance managers in family firms. Its main value lies in providing a theory-informed synthesis of current research on this topic and highlighting fruitful future research avenues.

Path-Dependence and the Challenges of Institutional Adaptability: The Case of the Niagara Region in Canada

2017 ◽  
Vol 50 (4) ◽  
pp. 983-1004 ◽  
Author(s):  
Charles Conteh ◽  
Diana Panter
Keyword(s):  
Path Dependence ◽  
National Level ◽  
Historical Institutionalism ◽  
Socioeconomic Change ◽  
Institutional Adaptation ◽  
Academic Literature ◽  
Institutional Infrastructure ◽  
City Regions ◽  
Economic Landscape ◽  
Level Of Analysis

AbstractThe paper uses the concept of path dependence to explain the challenges and complexities of institutional adaptation at the subnational level. The notion of path dependence is rooted in the well-established research tradition of historical institutionalism, one of the variants of neoinstitutionalism. The academic literature on the new institutionalism, however, has tended to focus on the national level of analysis. But there is a growing recognition of cities and regions as the main engines of socioeconomic change in the current age of seismic global economic perturbation. Their historic and current significance has thus made them arguably more organic units of governance than modern states or supranational regimes. The discussion focuses on the Niagara region in Canada to illustrate the institutional infrastructure of governance underpinning the economic landscape of city-regions and the challenges of reform that such local regions face in an age of unprecedented global socioeconomic change.

Islamic Tourism in South Africa

2015 ◽  
pp. 248-268 ◽  
Author(s):  
M. Noor Davids
Keyword(s):  
South Africa ◽  
South African ◽  
Emerging Market ◽  
Critical Question ◽  
Significant Component ◽  
South African Society ◽  
Historical Presence ◽  
Economic Landscape ◽  
External Forces ◽  
Muslim Culture

New economic opportunities emerged during the post-apartheid period in South Africa. Tourism was one sector that presented untapped potential to its citizens and the global community. This sector became one of the key generators of economic activity, and “halal tourism,” also referred to as Islamic tourism, developed as part of this emerging market. Research in Islamic tourism is still in its infancy, but due to the historical presence of Muslims, Islamic culture has always been regarded as an integral part of the South African cultural heritage. Evidence that Islamic tourism is an emerging sector is the recently convened conference on “halal tourism” in South Africa. Islamic tourism cannot be understood without an appreciation of the history of Muslims in South Africa. Since their arrival as political exiles and slaves beginning in 1652, Muslims struggled against colonialism and oppression, and today, their vibrancy is visible in the cultural, social, and economic landscape of South African society. The critical question that informs this chapter is, What is the potential of Islamic tourism in South Africa? Through a theoretical lens, tourism is viewed from a postmodern perspective that critiques the dominant homogenous views of Islam and Muslims. While Muslim culture evolved over time, it changed into a hybrid of cultural and religious confluences shaped by internal and external forces. Muslim culture consequently forms a significant component of the national heritage and is an integral part of the tourism industry. This chapter locates the manifestation of Islam in the context of tourism, arguing for its viability as a significant component of an emerging global Islamic tourism market.

scholarly journals Can economic growth be achieved in top management consulting using principles from the business federation? Findings from a Norwegian longitudinal study from 1984 until 1998

2016 ◽  
Vol 14 (3) ◽  
pp. 144-153
Author(s):  
Carsten M. Syvertsen
Keyword(s):  
Economic Growth ◽  
Longitudinal Study ◽  
Organizational Form ◽  
Jel Classification ◽  
Top Management ◽  
Management Consulting ◽  
Academic Literature ◽  
Partnership Model ◽  
Consulting Firms ◽  
Management Consulting Firms

The purpose of this article is to illustrate how management consulting firms can achieve economic growth through operating locally within an international network using the business federation as a new organizational form. Within the business federation, a local office gains access to resources through an extreme form of delegation where top management does not delegate to local offices, but rather gives local offices the permission to deal with tasks, because it is most efficient. The auhor uses top management consulting firms operating in Norway as the empirical setting operationalizing the business federation through a building block system. The research shows support for the claim that firms move closer to the business federation as over time from 1982 until 1998. It is indicated that firms operating close to principles of the business federation achieve stronger economic growth. The research contradicts claims found in the academic literature that the partnership model supports economic growth. Keywords: top management consulting, the business federation as a new organizational form, economic growth, Norwegian longitudinal study. JEL Classification: L1

Resilience of Family Firms: An Introduction

2011 ◽  
Vol 35 (6) ◽  
pp. 1107-1119 ◽  
Author(s):  
James J. Chrisman ◽  
Jess H. Chua ◽  
Lloyd P. Steier
Keyword(s):  
Social Exchange ◽  
Family Firms ◽  
Organizational Form ◽  
Prominent Feature ◽  
Special Issue ◽  
Opportunity Identification ◽  
Arranged Marriages ◽  
Family Enterprise ◽  
Management Succession

Family firms have long been a prominent feature of the organizational landscape and researchers have found some variations of this organizational form to be more resilient than others. The articles and commentaries in this special issue address some of the bases of this resilience including arranged marriages as a management succession strategy, long–term orientation and multitemporal perspectives, knowledge structures and opportunity identification, and social capital and social exchange. This introduction to the eighth special issue on “theories of family enterprise” discusses the contributions made by the articles and commentaries to our understanding about the resilience of family firms.

scholarly journals Agency, Stewardship, and the Universal-Family Firm

2015 ◽  
Vol 28 (4) ◽  
pp. 312-331 ◽  
Author(s):  
Sarah Drakopoulou Dodd ◽  
Bruno Dyck
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Organizational Form ◽  
Family Firm ◽  
Historical Documents ◽  
Socioeconomic Context ◽  
Universal Family ◽  
Develop Theory ◽  
Historical Writings

This article introduces the idea of a nonkinship-based Universal-family firm, an organizational form we developed based on interpreting historical writings in their socioeconomic context. We analyzed Luke’s gospel with an eye toward drawing implications for the stewardship agency debate in the contemporary family business literature. Our article makes contributions at two important levels. In addition to introducing and developing theory about the Universal-family firms, we also contribute to the methodological toolkit of family business scholars by providing a template for using historical documents to challenge, enhance, and develop theory.

scholarly journals FAMILY FIRMS: COVID-19 CHALLENGES AND FUTURE OUTLOOK

2021 ◽  
pp. 39-45
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Corporate Strategy ◽  
Academic Research ◽  
Family Businesses ◽  
Technological Transformation ◽  
Future Outlook ◽  
Academic Literature ◽  
Business Survey ◽  
The Impact

The COVID-19 pandemic endangered the survival of many firms and emphasized the need to reevaluate corporate strategy. This paper studies the impact of the pandemic on family businesses and how it changed their strategy, priorities, and outlook. We use data from the PricewaterhouseCoopers (PwC) Family Business Survey 2021 that covers 2,801 family firms in 87 countries. Our study highlights some of the challenges family businesses faced during the pandemic and the need for an updated blueprint to ensure their long-lasting success. The survey draws attention to the financial resilience of family businesses and their unique advantages in terms of reputation and trust. However, it also underscores the need for family firms to adopt a more focused environment, social and governance (ESG) agenda, and to invest in technological transformation. The paper analyzes the congruity between academic research and CEO responses and forms a bridge between the academic literature on family firms and the real-world surveys of CEOs of family businesses conducted by PwC.

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