Understanding Entrepreneurial Family Businesses in Uncertain Environments: The Case of Latin America

Critical Review on the Existence of Transgenerational Entrepreneurship in Tourism Businesses: Current Trend and Interest

“…Several researchers have suggested focusing on familylevel analysis to arrive at a clear explanation regarding family entrepreneurship through generations (Au, Craig & Ramachandran, 2011;Habbershon, Nordqvist & Zellweger, 2010;Nordqvist et al, 2011;Zellweger, Nason & Nordqvist, 2011). There is some evidence that the entrepreneurial spirit can be transmitted to the younger generation either via family's experience or the youngsters' involvement (Laspita et al, 2012;Jaskiewics, Combs & Rau, 2015).…”

Understanding entrepreneurial cultures in family businesses: A study of family entrepreneurial teams in Honduras

“…Family members in business are expected to provide for and support their family through the provision of jobs or inclusion in business activities. There is a high distrust of outsiders in entrepreneurial action (Nordqvist et al, 2011). This may explain a higher tendency for individuals to compose teams (Kirkman & Shapiro, 1997).…”

“…When family members control a business firm the values are an extension of family values, often instilled by the founder (Gupta, Levenburg, Moore, Motwani, & Schwarz, 2008;Nordqvist et al, 2011). Nordqvist et al (2011) point out that the way in which entrepreneurship is approached in these firms highlights an institutionalization of values and beliefs to ensure the continuity of existing ventures as there is a strong family commitment to the continuity and survival of existing businesses. Interestingly, while a paternalistic organizational culture may be associated with business activities in Latin America, studies reveal that these patterns are often challenged (Lenartowicz & Johnson, 2003).…”

“…Other contexts associated with less developed institutions, the historical existence of institutional voids, market imperfections, unreliable information flows and fragile legal and financial frameworks offer a contrasting context (Acemoglu, Johnson, & Robinson, 2001). Nordqvist, Marzano, Brenes, Jimenez, and Fonseca-Paredes (2011) highlight some of these issues and the increased level of uncertainty faced by family businesses in Latin America. Yet, in these contexts we may expect a more visible and overt presence of, and reliance upon, family ties and relationships combined with collective action when approaching the entrepreneurial process (Steier, 2009).…”

“…In Latin America a paternalistic guidance in business is often expected and sustained as part of the culture (Nordqvist et al, 2011). When family members control a business firm the values are an extension of family values, often instilled by the founder (Gupta, Levenburg, Moore, Motwani, & Schwarz, 2008;Nordqvist et al, 2011).…”