Dynamic capabilities in a sixth-generation family firm: Entrepreneurship and the Bibby Line

Abstract

In this paper we draw on the theory of dynamic capabilities to examine the development of the only surviving family-owned Liverpool shipping company. The Bibby Line was founded in 1807 to take advantage of the growing sea-trade based in Liverpool. The company remained in shipping until the mid-1960s when a series of external crises led the owner, Derek Bibby, to begin a process of diversification. In the last 50 years, the Bibby Line has grown into a £1 billion business with interests in retail, distribution and financial services as well as a continuing commitment to shipping. Our intention is to demonstrate how multi-generational ownership contributes to the creation of dynamic capabilities in family firms. The distinctive nature of Bibby as a long-standing family business is related to unique assets such as patient capital, flexible governance structures as well as the ability to mobilise social and human capital.

Dynamic Marketing Capabilities: Toward an Integrative Framework

“…; Jones et al . ) and solid empirical papers with generalizable results (e.g. Barrales‐Molina et al .…”

“…find strong evidence that it is advancing to a more mature stage, as indicated by the publication of textbooks (Vogel and Güttel 2013), valuable case studies (e.g. Aramand and Valliere 2012;Danneels, 2011;Ellonen et al 2011;Jones et al 2013) and solid empirical papers with generalizable results (e.g. Barrales-Molina et al 2010;Hsu and Wang 2012;Pavlou and El Sawy 2011;Protogerou et al 2012;Schilke 2013).…”

Developing dynamic capabilities through resource accretion: expanding the entrepreneurial solution space

“…More recently, Al-Aali and Teece (2014, 106) reinforce the role of the entrepreneur in asserting that 'dynamic capabilities are derived from some combination of top management skills, and the firm's history, values and routines'. Martin (2000, 1107) also acknowledge that a firm's senior managers influence the nature of a firm's competitive advantage through its dynamic capabilities, which depend on the human ability to reconfigure, combine and integrate resources to create appropriate strategies (Teece 2014;Jones et al 2013;Teece, Pisano, and Shuen 1997;Van den Bosch, Volberda, and de Boer 1999). This focus on the actionorientation of key managers suggests that they have the potential to imprint particular solutions and trajectories in response to perceived contingencies (Narayanan, Colwell, and Douglas 2009), and that these solutions are realized at the firm level.…”

Gestão Estratégica Em Empresas Familiares: Análise Das Pesquisas Qualitativas Publicadas Entre 2010 E 2015

“…Entre os estudos analisados, o artigo de Jones et al (2013) utilizou a pesquisa documental para coleta de dados públicos, do arquivo da empresa investigada e um arquivo solicitado ao Museu Marítimo de Liverpool. Os autores analisaram sistematicamente os relatórios financeiros anuais relativos a Bibby (empresa analisada no estudo) e suas controladas, referente ao período entre 1971 e 2010.…”