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Strategic entrepreneurship within family-controlled firms: Opportunities and challenges

Author

Listed:
  • Webb, Justin W.
  • Ketchen Jr., David J.
  • Ireland, R. Duane

Abstract

A firm engages in strategic entrepreneurship when it simultaneously pursues exploration for future business domains and exploitation of current domains. Superior performance often results from successful strategic entrepreneurship. A growing body of literature addresses the opportunities and challenges created when a firm attempts to stand out in both exploration and exploitation. To date, however, this literature has focused on strategic entrepreneurship without distinguishing the role of family involvement. We seek to address this gap by theorizing that family involvement, shaped by four key dimensions of identity, justice, nepotism, and conflict, creates differences in the nature of strategic entrepreneurship between family-controlled and non-family firms. Based on these four dimensions, we develop a set of propositions describing potential positive and negative implications for strategic entrepreneurship in family-controlled firms.

Suggested Citation

  • Webb, Justin W. & Ketchen Jr., David J. & Ireland, R. Duane, 2010. "Strategic entrepreneurship within family-controlled firms: Opportunities and challenges," Journal of Family Business Strategy, Elsevier, vol. 1(2), pages 67-77, June.
  • Handle: RePEc:eee:fambus:v:1:y:2010:i:2:p:67-77
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Volkan Yeniaras & Pinar Sener & Suheyl Unver, 0. "Is market learning the missing link between family involvement – firm performance relationship? A resource-based perspective," International Entrepreneurship and Management Journal, Springer, vol. 0, pages 1-30.
    2. José Luis Esparza-Aguilar & Argentina Soto-Maciel & Ma. Isabel De la Garza-Ramos, 2016. "Entrepreneurial orientation in Mexican family businesses," Journal of Economic and Financial Studies (JEFS), LAR Center Press, vol. 4(6), pages 29-39, December.
    3. repec:spr:intemj:v:13:y:2017:i:2:d:10.1007_s11365-016-0417-4 is not listed on IDEAS
    4. Casillas, José C. & Moreno, Ana M. & Barbero, José L., 2011. "Entrepreneurial orientation of family firms: Family and environmental dimensions," Journal of Family Business Strategy, Elsevier, vol. 2(2), pages 90-100, June.
    5. Discua Cruz, Allan & Hamilton, Eleanor & Jack, Sarah L., 2012. "Understanding entrepreneurial cultures in family businesses: A study of family entrepreneurial teams in Honduras," Journal of Family Business Strategy, Elsevier, vol. 3(3), pages 147-161.
    6. Weismeier-Sammer, Daniela, 2011. "Entrepreneurial behavior in family firms: A replication study," Journal of Family Business Strategy, Elsevier, vol. 2(3), pages 128-138.
    7. 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.
    8. Riviezzo, Angelo & Garofano, Antonella & Napolitano, Maria Rosaria & Marino, Vittoria, 2015. "Moving forward or running to standstill? Exploring the nature and the role of family firms’ strategic orientation," Journal of Family Business Strategy, Elsevier, vol. 6(3), pages 190-205.
    9. Comi, Alice & Eppler, Martin J., 2014. "Diagnosing capabilities in family firms: An overview of visual research methods and suggestions for future applications," Journal of Family Business Strategy, Elsevier, vol. 5(1), pages 41-51.
    10. Collin, Sven-Olof Yrjö & Ahlberg, Jenny, 2012. "Blood in the boardroom: Family relationships influencing the functions of the board," Journal of Family Business Strategy, Elsevier, vol. 3(4), pages 207-219.
    11. Wennberg, Karl & Wiklund, Johan & Hellerstedt, Karin & Nordqvist, Mattias, 2011. "Implications of Intra-Family and External Ownership Transfer Of Family Firms: Short Term and Long Term Performance," Ratio Working Papers 172, The Ratio Institute.
    12. Grundström, Christina & Öberg, Christina & Öhrwall Rönnbäck, Anna, 2012. "Family-owned manufacturing SMEs and innovativeness: A comparison between within-family successions and external takeovers," Journal of Family Business Strategy, Elsevier, vol. 3(3), pages 162-173.
    13. Wright, Mike & Kellermanns, Franz W., 2011. "Family firms: A research agenda and publication guide," Journal of Family Business Strategy, Elsevier, vol. 2(4), pages 187-198.
    14. Shirokova, G. & Ivvonen, L., 2016. "Performance of Russian SMEs during the economic crisis: The role of strategic entrepreneurship," Working Papers 6454, Graduate School of Management, St. Petersburg State University.

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