VIEW AND MANAGEMENT OF INNOVATIVENESS UPON SUCCESSION IN FAMILY-OWNED SMEs

Grundström, Christina; Öberg, Christina; Öhrwall-Rönnbäck, Anna

doi:10.1142/s136391961100326x

Cited by 12 publications

(6 citation statements)

References 43 publications

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“…Our research results are in accordance with those Swedish ones of Grundström et al (2011) saying that innovation orientation is independent of management structure.…”

Section: Studies and Articlessupporting

confidence: 92%

Influencing factors of innovation performance in family firms – Based on an empirical research

Németh¹,

Dőry²

2019

Veztud

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Investigation of innovation performance of family firms is rather new area in family business research. Studies focusing on the relationship between the overall performance of family businesses and their innovation activities conclude that family firms seem to innovate less, despite their ability to innovate more than other type of companies. De Massis et al. (2015) investigated how family firm managers can resolve this paradox and unlock the innovation potential of the organisations in which they work. Based on the results of international studies comparing innovation performance of family versus non-family firms, the authors' research focused on the investigation of the differences/similarities of innovation performance of family firms, first of all small and medium sized companies located in Hungary. The novelty of the article is the analysis of the influence of various management decision-making tools on the innovation performance of SMEs, in particular family firms. The results of the empirical research confirm that management decision tools have positive impact on innovation performance of SMEs and family firms introduce more innovations than other type of companies 1 .

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“…Our research results are in accordance with those Swedish ones of Grundström et al (2011) saying that innovation orientation is independent of management structure.…”

Section: Studies and Articlessupporting

confidence: 92%

Influencing factors of innovation performance in family firms – Based on an empirical research

Németh¹,

Dőry²

2019

Veztud

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“…product and market innovations). However, changes after intra-family succession are mostly incremental and limited to the exploitation of existing ideas (Zellweger and Sieger, 2012), because predecessors frequently choose a successor who is likely to maintain the status quo after succession (Grundström et al , 2011, 2012). External family succession, by contrast, might prompt the business to search for even more new ideas and promote radical change (Grundström et al , 2012).…”

Section: Results and Analysismentioning

confidence: 99%

“…Re-orientation after succession and the consideration of innovativeness in the choice of successors can be difficult for family businesses. Therefore, family business owners should take innovativeness into consideration when choosing a suitable successor (Grundström et al , 2011). The successor should be made well aware of the importance of an innovation culture that values freedom, risk propensity and learning (Grundström et al , 2012).…”

Section: Results and Analysismentioning

confidence: 99%

“…The successor should be made well aware of the importance of an innovation culture that values freedom, risk propensity and learning (Grundström et al , 2012). From the perspective of the successor, it is important to keep the intentions of the older generation, which might still remain influential in the business, in mind and to consider other contextual factors that could hinder business development (Grundström et al , 2011, 2012). More mature family businesses in particular need to be aware of the decreasing level of innovativeness and consciously increase their market orientation (Beck et al , 2011).…”

Section: Results and Analysismentioning

confidence: 99%

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Research on innovation in family businesses: are we building an ivory tower?

Fuetsch

Suess–Reyes

2017

JFBM

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Purpose One of the central requirements of research is that the knowledge acquired should not only be academically rigorous, but also socially useful. If an article fails to address practical relevance, the audience will question its value and respond with “so what?”. Due to recent criticism regarding the practical relevance of innovation research, the purpose of this paper is to examine whether a similar “ivory divide” prevails in research on innovation in family businesses. More specifically, this paper investigates to what extent and at what depth researchers generate practical implications for innovation in family businesses. Furthermore, different strategies to bridge the “ivory divide” are discussed. Design/methodology/approach This literature review systematically analyses the findings of 50 journal articles focusing on innovation in family businesses published between 2004 and 2015. Based on this, the articles are classified according to their degree of practical relevance. Findings Although the findings unanimously show the relevance of innovation for strengthening business’s performance, only a minority of articles offer in-depth implications for practitioners in terms of practical guidance for action and application-oriented recommendations. A number of reasons for the development of this “ivory divide” are discussed and suggestions for how the connection between research and practice could be strengthened are provided. Originality/value This paper attempts to provide an impulse toward more practically oriented family business research in order to increase its interestingness to academics and its value to practitioners.

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“…Moreover, the exceptional employee relations in family firms enhance employee commitment, willingness, and motivation to implement innovation (Bennedsen et al 2007;Cassia et al 2012;De Massis et al 2018). In addition, family firms can activate their social network to enhance the implementation of innovation projects by leveraging, for example, the strong relationships with existing suppliers or universities (Grundström et al 2011).…”

Section: Familiness and Strategic Changementioning

confidence: 99%

Unbundling Strategic Change in Family Firms: the Influence of Familiness on the Strategic Change Process

Belling

Pidun

Knyphausen‐Aufseß

2021

Schmalenbach J Bus Res

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The viability and adaptation of family firms is a key research area owing to the longevity and transgenerational vision of the family. Throughout their development, firms transition through strategic change episodes with a potentially significant impact on their performance and survival. In this article, we combine family firm with strategic change research to propose how familiness supports or limits strategic change. We put forward three tendencies of family firms in their ability to deal with strategic change. First, familiness creates an overemphasis on the cognition of gradual change triggers but limits the cognition of radical change triggers. Second, familiness creates a tendency to inappropriately scope and dimension strategic change in radical change episodes to protect the value of legacy resources. Third, familiness supports endurance during strategic change implementation while also creating a tendency to be too slow or stubborn when implementing an insufficient change decision.

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VIEW AND MANAGEMENT OF INNOVATIVENESS UPON SUCCESSION IN FAMILY-OWNED SMEs

Cited by 12 publications

References 43 publications

Influencing factors of innovation performance in family firms – Based on an empirical research

Influencing factors of innovation performance in family firms – Based on an empirical research

Research on innovation in family businesses: are we building an ivory tower?

Unbundling Strategic Change in Family Firms: the Influence of Familiness on the Strategic Change Process

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