Theorising on the Latino Family Business Simpatia (Connectedness), Familismo (Knowledge Reservoir), Fama (Organisational Identity), and Solidaridad (Social Embeddedness) Contexts

Family Businesses account for a significant portion of business life in the Latin World. Thus, they need a theory based on dynamic processes of culture, religion, identity, and networking concepts– such as Familismo, Simpatia, Fama, and Solidaridad. We assume those constructs are at the centre of every family business in the Latin Nexus. Our research will establish a more profound understanding of the Latin Family Business in theoretical and empirical terms. Knowledge Reservoir — Familismo, Connectedness — Simpatia, Organisation Identity — Fama, and Social Embeddedness — Solidaridad will be the core concepts in our study but will not necessarily lead to our results. The study involves conceptualising a theory of Latino family businesses (LFBs). Conceptual research primarily relies on theoretical frameworks, models, and considerations. In our study, we utilised mapping techniques to illustrate how individuals conceptualise the interrelationships among various ideas. Both concept and mind maps underscore the importance of visual representations in conveying experience, knowledge, perception, or memory. Consequently, our research incorporated concept maps/tables and mind maps. These methods will bring revelatory insights into originality and scientific utility and define the LFB. This paper’s principal contribution lies in formulating propositions that aim to simplify and elucidate key constructs — namely, Fama, Familismo, Simpatia, and Solidaridad — within a middle-range theory of LFB, employing a modelling-as-theorising approach to define the LFB.