A system dynamics-based approach to determinants of family business growth

Marques, F. C.; Ferreira, Fernando; Zopounidis, Constantin; Banaitis, Audrius

doi:10.1007/s10479-020-03524-9

Cited by 18 publications

(25 citation statements)

References 68 publications

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“…It was created by Eden and Ackermann (2001) and is based on cognitive mapping, commonly employed to identify ideas and structure the thinking of various decision makers (Eden, 1988). Cognitive mapping can deal with both subjective and objective variables (Ferretti, 2016;Marques et al, 2020),…”

Section: Knowledge Visualisation In Collaborative Decision Making: Methodological Aspectsmentioning

confidence: 99%

“…and brings together uncertainty, different perspectives, conflicts of interest, multiple decision makers, and the sharing of their knowledge and experience, facilitating the reorganisation of various lines of thinking, ensuring greater transparency, and allowing decision problems to be structured quite intuitively (Marques et al, 2020;Barão et al, 2021). That said, Ackermann and Eden (2001) note that cognitive mapping techniques are useful in reducing the number of omitted criteria in the decisionmaking processes, as well as in increasing the understanding of the cause-and-effect relationships between variables.…”

Section: Knowledge Visualisation In Collaborative Decision Making: Methodological Aspectsmentioning

confidence: 99%

“…The values assigned to all cause-and-effect relationships while constructing the FCM are not visible in Figure 2, but they were included in both the modelling process and the presented stock-and-flow diagram. Once an SD model is constructed and the initial conditions are specified, the structure should be tested for internal coherence based on an initial run (Forrester, 1961;Marques et al, 2020). This initial run allows the behaviour of the different model variables to be analysed over time, offering a source of direct and immediate feedback for decision makers.…”

Section: Rethinking and Consolidating The Frameworkmentioning

confidence: 99%

“…These experts were considered neutral elements because they did not participate in the previous group meetings (cf. Assunção et al, 2020;Marques et al, 2020). Having presented the framework to the experts, the interview discussions focused on the following issues: Obs.…”

Section: Rethinking and Consolidating The Frameworkmentioning

confidence: 99%

“…It was created by Eden and Ackermann (2001) and is based on cognitive mapping, commonly employed to identify ideas and structure the thinking of various decision makers Knowledge management visualisation (Eden, 1988). Cognitive mapping can deal with both subjective and objective variables (Ferretti, 2016;Marques et al, 2020), and brings together uncertainty, different perspectives, conflicts of interest, multiple decision makers and the sharing of their knowledge and experience, facilitating the reorganisation of various lines of thinking, ensuring greater transparency and allowing decision problems to be structured quite intuitively (Marques et al, 2020;Barão et al, 2021). That said, Ackermann and Eden (2001) note that cognitive mapping techniques are useful in reducing the number of omitted criteria in the decisionmaking processes, as well as in increasing the understanding of the cause-and-effect relationships between variables.…”

Section: Knowledge Visualisation In Collaborative Decision-making: Me...mentioning

confidence: 99%

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Knowledge management visualisation in regional innovation system collaborative decision-making

Weck

Humala

Tamminen

et al. 2021

Self Cite

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PurposeThis study was developed in response to the need to develop age-friendly smart living environments due to the complex demands placed on society by the ageing of the population. This study aims to analyse the potential that knowledge visualisation offers collaborative decision-making applied to the development of a multiple criteria framework supporting knowledge management (KM) through knowledge collaboration (KC) and knowledge sharing (KS) in the context of regional innovation systems (RIS).Design/methodology/approachUsing a socio-technical approach, knowledgeable and experienced representatives of RIS innovation actors were brought together to develop a constructivist multiple criteria framework that integrates knowledge visualisation and collaborative decision-making techniques (i.e. cognitive mapping and system dynamics).FindingsThe study introduces a multiple criteria model supporting KM encompassing conditions and practices of RIS innovation actors facilitating and encouraging KC and KS. The potential for knowledge visualisation in collaborative decision-making is explored in great depth and illustrated in a case study setting.Practical implicationsThe panel members who participated in this study consider our methodological proposal to be extremely versatile and see great potential for further applications in RIS contexts.Originality/valueThe combined use of cognitive mapping and system dynamics according to the strategic options development and analysis (SODA) approach offers a holistic and well-informed perspective on the issue in question. The literature reports no prior work of this methodological combination in the same research context.

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Section: Knowledge Visualisation In Collaborative Decision Making: Methodological Aspectsmentioning

confidence: 99%

Section: Knowledge Visualisation In Collaborative Decision Making: Methodological Aspectsmentioning

confidence: 99%

Section: Rethinking and Consolidating The Frameworkmentioning

confidence: 99%

Section: Rethinking and Consolidating The Frameworkmentioning

confidence: 99%

Section: Knowledge Visualisation In Collaborative Decision-making: Me...mentioning

confidence: 99%

See 3 more Smart Citations

Knowledge management visualisation in regional innovation system collaborative decision-making

Weck

Humala

Tamminen

et al. 2021

Self Cite

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Sustainability Considerations in the Product Design Using System Dynamics and Fuzzy Cognitive Maps

Mohagheghian

Hosseini-Nasab

Abraham

et al. 2021

Advances in Intelligent Systems and Computing

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“Who Comes Next?”: Planning and Managing Sustainable Initiatives that Facilitate Family Business Succession

Prazeres,

Ferreira,

Ferreira

et al. 2024

J Fam Econ Iss

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Family businesses are increasingly recognized for their significance in the global economy, constituting a growing portion of companies worldwide and elevating the importance of this topic on governmental agendas. Unique challenges confront family firms, intertwining business decisions with familial repercussions. Among these challenges, the succession process emerges as a critical threat to their continuity. Inadequate solutions to the question of succession often lead to organizational failure, underscoring the urgency of addressing this issue. This study endeavors to construct an analysis model to support decision-makers throughout the succession journey, integrating a constructivist approach that merges cognitive mapping and interpretive structural modeling (ISM). This dual methodology facilitates the swift identification and analysis of factors crucial for smoother family business succession. The model development leverages insights from an expert panel and entails delineating cause-and-effect relationships among identified determinants and prioritizing these factors based on their significance. Subsequently, the model undergoes validation through a consolidation session with experts from the Associação de Empresas Familiares (i.e., Family Business Association in Portuguese), who assess its practical applicability. This includes perspectives from a Brazilian expert renowned for his understanding of family business dynamics within an emerging economy—Brazil. The insights gleaned from these sessions inform recommendations on implementing the tested procedures within real-life family enterprises, thereby contributing to the sustainability and longevity of these businesses.

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A system dynamics-based approach to determinants of family business growth

Cited by 18 publications

References 68 publications

Knowledge management visualisation in regional innovation system collaborative decision-making

Knowledge management visualisation in regional innovation system collaborative decision-making

Sustainability Considerations in the Product Design Using System Dynamics and Fuzzy Cognitive Maps

“Who Comes Next?”: Planning and Managing Sustainable Initiatives that Facilitate Family Business Succession

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