Search results

The primary aim is to renew academic discourse on financial education in business families. It emphasizes the need for effective financial literacy programs to foster a healthier relationship with money, addressing both technical aspects of finance and its psychological and relational impacts among family members.

This perspective article explores the impact of money education within business families. It discusses the psychological effects of money education on family dynamics and decision-making in family businesses. The research draws on previous studies, surveys and practical examples to highlight the importance of financial education and its implications on family and business sustainability.

Financial education is essential in business families as it enables more meaningful discussions on money and wealth, fostering informed decisions and decreasing conflict. Yet, it is often overlooked. There is a need for academic research into effective strategies for financial education for family members and the effects of financial literacy, or its absence, on various aspects of the business and the family system. The article presents a selection of pertinent questions for future research in this domain.

This article contributes to the family business field by underscoring the gap in scholarly research on money education within family businesses. It advocates for comprehensive financial education strategies that balance technical knowledge with an understanding of the psychological and relational aspects of money.

This perspective article aims to summarise the understanding of the link between regional development and family business and explore potential pathways for further investigations.

This study employed a scoping review methodology which attempts to explore a new topic of study and unveil its main concepts and relationships.

This study emphasises the need to enhance the cross-fertilisation of knowledge to bridge the gap between studies on regional development and family business. In addition to the traditional research pathways towards discerning the impact of formal and informal institutional contexts and economic and geographical locations on family business behaviour and performance, this perspective article encourages future researchers to delve into the regional-level mechanisms through which family businesses can influence and contribute to regional economic and social outcomes.

This perspective study employs a context theorising lens to examine the connection between regional development and family business.

Despite the potential benefits of family businesses, their dynamics present peculiar challenges that hinder the realisation of their full potential. This paper sought to assess the relationship between family dynamics and business development in Africa. The authors explored the dynamics of African family structures and how these structures impact family businesses.

The paper adopted an analytical and interpretative approach to existing literature and contemporary practices in family business operations. The approach helped to synthesise emerging trends in family business operations and offered novel insights into family-owned businesses.

The findings revealed that, though family businesses have a lot to contribute to development, family dynamics can threaten their sustainability if not well moderated. Based on the findings, the authors recommend trust and transparency as critical pillars for sustained family-owned business growth. They recommend further that communication channels, documented policies and procedures and well-established feedback channels are strategies that can guide stakeholders in family businesses to build trust and transparency in the business.

The paper throws light on the unique contributions of family businesses to communities and individuals and the Sustainable Development Goals (SDG). It is also an eye-opener to this relatively grey area and opens deeper discussions about sustaining family businesses.

This article examines some of the trends that allow to understand and analyze the evolution of the idea of entrepreneurship to become a family business.

This paper is based on systematic research.

Around four current trends and four future trends are presented, which allow the authors to understand how the family of an entrepreneur influences in a direct and indirect way in their business, until even managing to transform that business into a family business through planning, organization, management and control exercised by several members of the family of the initial entrepreneur and his future generations in that company.

This research makes it possible to identify some challenges and opportunities that family businesses must face, which arise from an enterprise and which can help them to have business success, covering part of the past, present and future of such organizations. In this way, this article synthesizes how family dynamics and business dynamics are intertwined through the influence of the family on an entrepreneur’s business model.

Family businesses require internal communication (IC) to guide and provide direction, and the unique nature of involving both family and nonfamily employees add complexity. Navigating this complexity helps to ensure effective direction and management of family businesses. This paper explores the existing research concerning IC within family businesses and discusses the lenses and contexts through which it is commonly studied.

This paper provides a concise literature review to identify the most common lenses through which IC in family business has been researched.

IC in family enterprises is mostly studied through the lenses of IC between family generations, IC and the influence on family identity, and IC in times of crises. Existing research is largely focused on the role of family in IC, and limited consideration is given to the role of nonfamily members and family members outside of the business.

The paper synthesizes the direction and findings of existing research into IC within family business and provides avenues for future research. Managerial implications are also presented based on the synthesis of existing literature.

Family businesses are characterized by the simultaneous presence of the family and the business system. The literature analyses sporadically the family support during the creation of a new family business. For this reason, the aim of this article is to offer new reflections and theoretical approaches in the field of family business studies. In fact, the study focuses on the first generation and the relationship and support with the previous generation (latent generation).

This perspective paper is based on a concise review of the literature.

The results of this offer a state of the art, synthesized and integrated, on the first generation to proposal the reader new knowledge on the first generation and relationships with family members.

This perspective paper distinguishes between the first generation formally engaged in the family business and the latent generation. The authors identify latent generation as a generation coeval with the first that supports the entrepreneur without being formally engaged in the family business. This study summarizes existing research on the first generation, highlighting the crucial role of the latent generation. Considering the latent generation determines an implicit and tacit generational transition not yet considered in the literature on the topic This study provides new research directions for scholars and managers to understand the entrepreneurial behaviors of families, family members and family businesses.

This study aims to examine the impact of communication style focusing on the family business brand’s roots and virtues on inferences of manipulative intent and willingness to pay a price premium, applying the persuasion knowledge model.

This study collects data involving 337 participants from France and applies partial least squares structural equation modeling (PLS-SEM) to test the hypotheses.

The results demonstrate that communication style plays an important role in inferences of manipulative intent: focusing on the family business brand’s virtues has a positive effect while focusing on the family business brand’s roots has a nonsignificant effect. In turn, inferences of manipulative intent have a negative and significant effect on willingness to pay a price premium. Furthermore, age does not moderate the effect of communication style focusing on the family restaurant brand’s roots and inferences of manipulative intent but positively moderates the effect of communication style focusing on the family restaurant brand’s virtues on inferences of manipulative intent.

To the best of the authors’ knowledge, this study is the first to try to unpack the differing effects of communication styles in the context of family business brands. In this vein, it has insightful theoretical and managerial implications for family business brands.

Despite the rapid advancement of blockchain technology across various sectors, scholarly research on its application within family businesses remains significantly underdeveloped. This study aims to address this gap by examining the application of blockchain technology within family businesses to identify key application domains, benefits and implementation challenges.

The study employs a conceptual approach, drawing on existing literature on family businesses and blockchain technology. This review aimed to identify the unique characteristics of family businesses, their challenges and the distinctive features of blockchain technology that can potentially be mapped to each other. Based on the literature review, we develop a conceptual framework exploring blockchain technology applications in family businesses. Real-world case studies of family businesses that have implemented blockchain technology were identified to provide practical insights and implementation challenges.

Blockchain technology possesses transformative potential for family businesses across several critical domains. It includes enhancing trust and transparency in operations, improving governance and decision-making and facilitating succession planning and intergenerational wealth management. Case study evidence illustrates the tangible benefits of blockchain, including enhanced supply chain transparency, optimized business processes, increased customer trust and resultant business sustainability. Blockchain technology implementation challenges include data privacy concerns, integration with legacy systems, regulatory uncertainty and change management issues.

This study is limited by its reliance on existing literature and case studies. It may not capture the full spectrum of challenges and opportunities associated with blockchain applications in family businesses. Future research should focus on longitudinal and empirical research to provide a deeper understanding of the impact of blockchain technology application in family businesses.

This study contributes to the literature by exploring the intersection of family businesses and blockchain technology, an area that has received limited academic attention. It identifies potential application domains of blockchain technology in family businesses and develops a conceptual framework based on existing literature. Through case studies, the research provides practical insights and valuable lessons for family businesses considering blockchain implementation. It also addresses key considerations and challenges, providing a clear roadmap for blockchain technology integration in family businesses. The study lays the groundwork for further research and exploration in blockchain technology and family businesses.

The study empirically explores the influence of re-organization on entrepreneurial intentions and family business generational transfers among small and medium enterprises (SMEs).

Using multi-group analysis and partial least square structural equation models, data from 252 family-owned businesses were analyzed.

The results reveal that re-organization partially mediates the relationship between entrepreneurial intentions and family business generational transfers among SMEs.

The study used a cross-sectional survey approach and focused on Kampala business district. If required and funding permits, a longitudinal study in this field may be conducted.

Family business owners ought to involve their family members in the management of the business from an early age, including them in the decision-making process, and use social exchange to strike a balance between their personal goals and the objectives of the business. In order to protect the business's goals, the business founder should mentor the next generation through quality family social interactions.

Integrating entrepreneurial intentions and re-organization is likely to improve the survival rate of family business generational transfers among SMEs in Uganda using social exchange theory.

This paper examines the integration of artificial intelligence (AI) within family businesses, focusing on how AI can enhance their competitiveness, resilience and sustainability. The study seeks to provide insights into AI’s application in family business contexts, addressing the unique strengths and challenges these businesses face.

A systematic literature review was conducted to synthesize existing research on the adoption and integration of AI in family businesses. The review involved a comprehensive analysis of relevant academic literature to identify key trends, opportunities, challenges and factors influencing AI adoption in family-owned enterprises.

The review highlights the significant potential of AI for family businesses, particularly in improving operations, decision-making and customer engagement. It identifies opportunities such as analysing customer data, enhancing brand building, streamlining operations and improving customer experiences through technologies like Generative AI, Machine Learning, AI Chatbots and NLP. However, challenges like resource constraints, inadequate infrastructure, low customization and AI knowledge gaps inhibit AI adoption in family firms. The study proposes an AI adoption roadmap tailored for family businesses and outlines future research directions based on emerging themes in AI use within these enterprises.

This paper addresses the underexplored area of AI integration in family businesses, contributing to the academic understanding of the intersection between AI and family-owned enterprises. The study offers a comprehensive synthesis of existing research, providing valuable insights and practical recommendations for enhancing the competitiveness and sustainability of family businesses through AI adoption.