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Clarifying the strategic advantage of familiness: Unbundling its dimensions and highlighting its paradoxes

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  • Irava, Wayne J.
  • Moores, Ken
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    Abstract

    Using a resource-based theoretical lens we clarify familiness by identifying the dimensions of this unique family business resource in multigenerational family firms. Using data from four in-depth case studies, we provide evidence that familiness is comprised of human resources (reputation and experience), organisational resources (decision-making and learning), and process resources (relationships and networks). Furthermore, we demonstrate how these resource dimensions are paradoxical in nature in that each influences the family firm in both positive and negative ways. These dimensions and their nature (positive/negative) thus not only help clarify a firm's familiness but also move the construct from a conceptual notion into a more operationalised form.

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Family Business Strategy.

    Volume (Year): 1 (2010)
    Issue (Month): 3 (September)
    Pages: 131-144

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    Handle: RePEc:eee:fambus:v:1:y:2010:i:3:p:131-144

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    Related research

    Keywords: Family business Familiness Resource-based view Paradox;

    References

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    1. Habbershon, Timothy G. & Williams, Mary & MacMillan, Ian C., 2003. "A unified systems perspective of family firm performance," Journal of Business Venturing, Elsevier, vol. 18(4), pages 451-465, July.
    2. Villalonga, Belen & Amit, Raphael, 2006. "How do family ownership, control and management affect firm value?," Journal of Financial Economics, Elsevier, vol. 80(2), pages 385-417, May.
    3. Zellweger, Thomas M. & Eddleston, Kimberly A. & Kellermanns, Franz W., 2010. "Exploring the concept of familiness: Introducing family firm identity," Journal of Family Business Strategy, Elsevier, vol. 1(1), pages 54-63, March.
    4. Jean-Luc Arregle & Michael A. Hitt & David G. Sirmon & Philippe Very, 2007. "The Development of Organizational Social Capital: Attributes of Family Firms," Journal of Management Studies, Wiley Blackwell, vol. 44(1), pages 73-95, 01.
    5. Leenders, Mark & Waarts, Eric, 2003. "Competitiveness and Evolution of Family Businesses:: The Role of Family and Business Orientation," European Management Journal, Elsevier, vol. 21(6), pages 686-697, December.
    6. Ronald C. Anderson & David M. Reeb, 2003. "Founding-Family Ownership and Firm Performance: Evidence from the S&P 500," Journal of Finance, American Finance Association, vol. 58(3), pages 1301-1327, 06.
    7. Nordqvist, Mattias & Melin, Leif, 2010. "The promise of the strategy as practice perspective for family business strategy research," Journal of Family Business Strategy, Elsevier, vol. 1(1), pages 15-25, March.
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    Cited by:
    1. Goel, Sanjay & Mazzola, Pietro & Phan, Phillip H. & Pieper, Torsten M. & Zachary, Ramona K., 2012. "Strategy, ownership, governance, and socio-psychological perspectives on family businesses from around the world," Journal of Family Business Strategy, Elsevier, vol. 3(2), pages 54-65.
    2. De Massis, Alfredo & Kotlar, Josip, 2014. "The case study method in family business research: Guidelines for qualitative scholarship," Journal of Family Business Strategy, Elsevier, vol. 5(1), pages 15-29.
    3. Achleitner, Ann-Kristin & Kaserer, Christoph & Kauf, Tobias, 2012. "The dynamics of voting ownership in lone-founder, family-founder, and heir firms," Journal of Family Business Strategy, Elsevier, vol. 3(2), pages 79-96.
    4. Boyd, Britta & Hollensen, Svend, 2012. "Strategic management of a family-owned airline: Analysing the absorptive capacity of Cimber Sterling Group A/S," Journal of Family Business Strategy, Elsevier, vol. 3(2), pages 70-78.

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