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Article
Publication date: 1 March 2008

Matthew C. Sonfield and Robert N. Lussier

This is an empirical study of family firm size, as measured by the number of employees, and the relationship of a firmʼs size to a variety of management activities, styles, and…

2054

Abstract

This is an empirical study of family firm size, as measured by the number of employees, and the relationship of a firmʼs size to a variety of management activities, styles, and characteristics. A statistical analysis of data drawn from 159 American family businesses indicates significant differences by size with regard to the number of nonfamily members in top management, use of outside advisors, time spent engaged in strategic management, use of sophisticated methods of financial management, proportion of women family members involved in firm management, and level of conflict between family members. Implications are offered for family firm owner-managers, for those who assist such businesses, and for researchers in the field of family business.

Details

New England Journal of Entrepreneurship, vol. 11 no. 2
Type: Research Article
ISSN: 2574-8904

Open Access
Article
Publication date: 8 February 2021

Koki Arai

The purpose of this study is to determine the relationship between the geographic market size of businesses and the competitiveness of being able to bid at low prices.

1561

Abstract

Purpose

The purpose of this study is to determine the relationship between the geographic market size of businesses and the competitiveness of being able to bid at low prices.

Design/methodology/approach

The design of this study is based on a natural experiment approach. Firstly, after controlling for the firm size and other factors, the author sees that firms participating in bidding in a large region are more competitive to bid at lower prices than firms doing business in a smaller region. The author then tests for causality in a natural experiment of the exogenous event.

Findings

The results show that firms participating in the bidding process in a large area are more competitive to bid at lower prices than firms doing business in a small area. This is tested in a natural experiment, and the result is that they are more competitive because they do business in a larger area.

Practical implications

The practical implication is that, when aiming for competitiveness, it is most important to consider the nature of the business and to see the essence of the business, for example, that networks are important in the construction industry, and that doing business over a wide area is the way to become competitive.

Social implications

The social implications are that to make firms more competitive, we must look at the characteristics of the industry and come up with policies that fit the reality, such as encouraging them to do business in a wide area.

Originality/value

The originality of this study is that this study viewed competitiveness as being able to bid low prices for public procurement and found that doing business in a wide area is competitive. Furthermore, the causal effect of the study was to test the fact that doing business in a wide area does not mean doing business in a wide area because it is competitive, but that doing business in a wide area creates a competitive advantage.

Details

Competitiveness Review: An International Business Journal , vol. 32 no. 1
Type: Research Article
ISSN: 1059-5422

Keywords

Content available
Article
Publication date: 1 March 2006

Rolland LeBrasseur, Huguette Blanco and John Dodge

A survey of young microfirms was conducted to investigate their growth intentions. The findings confirm the distinct profiles of four types of firms categorized on the basis of…

1179

Abstract

A survey of young microfirms was conducted to investigate their growth intentions. The findings confirm the distinct profiles of four types of firms categorized on the basis of current and future employment: Lifestyler, Entrepreneur, Manager, and Mover. They differ in terms of the owner's perceptions of the desirability and practicality of growing their firm, and with respect to the moderating variables of industry affiliation, business location, and investment level. Research issues and service implications for business support agencies are identified.

Details

New England Journal of Entrepreneurship, vol. 9 no. 1
Type: Research Article
ISSN: 2574-8904

Content available
Article
Publication date: 1 March 2015

Yoon G. Lee, Margaret A. Fitzgerald, Kenneth R. Bartkus and Myung-Soo Lee

With data from the 2003 and 2005 National Minority Business Owners Survey, we examined the extent to which minority business owners differ from nonminority business owners in…

2508

Abstract

With data from the 2003 and 2005 National Minority Business Owners Survey, we examined the extent to which minority business owners differ from nonminority business owners in their reported use of adjustment strategies, and the relationship between the use of adjustment strategies and perceived business success. The sample consisted of 193 African American, 200 Mexican American, 200 Korean American, and 210 white business owners. Mexican American and Korean American business owners reported higher levels of adjustment strategy use than African American and white business owners. The ordinary least squares show that reallocating family resources to meet business needs and reallocating business resources to meet family needs were negatively associated with perceived business success, whereas hiring paid help was positively associated with perceived business success.

Details

New England Journal of Entrepreneurship, vol. 18 no. 1
Type: Research Article
ISSN: 2574-8904

Keywords

Open Access
Article
Publication date: 3 October 2022

Goran Vlasic

As family and nonfamily businesses differ in how they do business, the focus of this manuscript is on understanding how strategy-level models can be misinterpreted if family…

1925

Abstract

Purpose

As family and nonfamily businesses differ in how they do business, the focus of this manuscript is on understanding how strategy-level models can be misinterpreted if family involvement is not considered. Thus, in this manuscript, the focus is on understanding the extent to which strategic orientations (market orientation and technology orientation, which reflect strategic approach), strategic performance metric focus (financial-based, optimization-based and market-based, which reflect strategy evaluations) and strategic audacity (which reflects boldness in envisioning and delivering strategic outcomes) play a role in driving firm performance – in family businesses vs nonfamily businesses. Understanding how these drivers impact performance differently in family vs nonfamily businesses enables companies to better direct their strategic efforts.

Design/methodology/approach

After presenting theoretical concepts, authors use regression analysis on a sample of companies in a developing European Union (EU) country (n = 282) to evaluate the impact of strategic orientation, strategic performance metric focus and strategic audacity on firm performance separately in three samples: the full sample (consisting of both family and nonfamily-owned firms), sample of family businesses and the sample of nonfamily businesses.

Findings

The role of strategic orientation, strategic audacity and focal goals in driving firm performance differs depending on the company type (family vs nonfamily). In the case of nonfamily businesses, strategic audacity and technology orientation with the focus on efficiencies and markets are driving firm performance. In the case of family businesses, both market and technology orientation are important drivers of performance; the focus on financial and market indicators of performance is positively impacting performance, while the focus on efficiency indicators is diminishing the performance of family businesses. Thus, results show that of the performance drivers for family businesses, some are insignificant (strategic audacity), while some even have a negative impact (focus on optimization-based measures of performance) on family businesses' performance. Moreover, results show that some of the drivers of performance in case of family businesses (market orientation and focus on financial-based measures of performance) are not drivers of outstanding performance in the case of nonfamily businesses.

Practical implications

Best practices differ for family vs nonfamily businesses. In case of family businesses, comparing them to nonfamily businesses, market orientation and the focus on financial-based measures of performance have a greater impact on firm performance, while, at the same time, family businesses should refrain focusing on pursuing optimization-based measures of performance as such pursuit drives down their performance. Understanding the drivers of performance specific to family businesses will enable such firms to better navigate contexts characterized by ambiguity and uncertainty.

Originality/value

The manuscript evaluates how models, generally researched in the overall firm metrics, differ between family businesses and nonfamily businesses, thus delivering new insights into the important marketing concepts.

Details

Journal of Family Business Management, vol. 13 no. 1
Type: Research Article
ISSN: 2043-6238

Keywords

Open Access
Article
Publication date: 19 April 2022

Ranjan Chaudhuri, Sheshadri Chatterjee, Sascha Kraus and Demetris Vrontis

This study assesses the capability of artificial intelligence integrated customer relationship management (AI-CRM) technology for sustaining family businesses in times of crisis…

3519

Abstract

Purpose

This study assesses the capability of artificial intelligence integrated customer relationship management (AI-CRM) technology for sustaining family businesses in times of crisis, such as the COVID-19 pandemic. The study also investigates the moderating role of strategic intent in sustaining family businesses in times of crisis.

Design/methodology/approach

The authors used dynamic capability view theory and related literature on family business and technology adoption to develop a conceptual model. This model has been validated using the structural equation modeling technique considering 332 usable responses from people of India involved in family businesses and technology adoption. The study also uses multigroup analysis to examine the moderating role of strategic intent.

Findings

The study finds that adoption of AI-CRM technology significantly and positively impacts dynamic capabilities of the family businesses, such as sensing, seizing and transforming capabilities, which in turn positively and significantly influences their sustainability during crises. The study also highlights the significant moderating impact of strategic intent for sustaining family business firms in uncertain times.

Practical implications

This study has highlighted the importance for family businesses to adopt AI-CRM technology and its influence on their dynamic capabilities. The study also provides important inputs to the management of family businesses regarding adoption of new technologies and their significance during crises. The study also documents that strategic intent could help family businesses to survive during such times. The study is conducted in India and thus cannot be generalized.

Originality/value

This study table is unique in that it investigates the influence of AI-CRM technology and the moderating role of strategic intent on family business sustainability in times of crisis. Moreover, the proposed theoretical model is a unique model with explanative power of 71%.

Details

Journal of Family Business Management, vol. 13 no. 1
Type: Research Article
ISSN: 2043-6238

Keywords

Content available
Article
Publication date: 1 March 2004

Kirk C. Heriot, Noel D. Campbell and R. Zachary Finney

This article argues that existing research poorly specifies the link between planning and performance because of omitted variable bias. Researchers agree planning is a critical…

1603

Abstract

This article argues that existing research poorly specifies the link between planning and performance because of omitted variable bias. Researchers agree planning is a critical part of creating any new venture. Many researchers assess planning by whether a small firm has a written business plan. Unfortunately, efforts empirically to validate this relationship have been inconclusive. This article proposes that researchers should assess business plans both on the quality of the plan (and the planning process that produced it), and on the quality of the underlying business opportunity. Failure to account for both aspects of a business plan amounts to omitted variable bias, frustrating attempts to accurately estimate the true relationship.

Details

New England Journal of Entrepreneurship, vol. 7 no. 2
Type: Research Article
ISSN: 2574-8904

Open Access
Article
Publication date: 16 October 2019

Boumediene Ramdani, Ahmed Binsaif and Elias Boukrami

The aim of this paper is to review and synthesise the recent advancements in the business model literature and explore how firms approach business model innovation.

27652

Abstract

Purpose

The aim of this paper is to review and synthesise the recent advancements in the business model literature and explore how firms approach business model innovation.

Design/methodology/approach

A systematic review of business model innovation literature was carried out by analysing 219 papers published between 2010 and 2016.

Findings

Evidence reviewed suggests that rather than taking either an evolutionary process of continuous revision, adaptation and fine-tuning of the existing business model or a revolutionary process of replacing the existing business model, firms can explore alternative business models through experimentation, open and disruptive innovations. It was also found that changing business models encompasses modifying a single element, altering multiple elements simultaneously and/or changing the interactions between elements in four areas of innovation: value proposition, operational value, human capital and financial value.

Research limitations/implications

Although this review highlights the different avenues to business model innovation, the mechanisms by which firms can change their business models and the external factors associated with such change remain unexplored.

Practical implications

The business model innovation framework can be used by practitioners as a “navigation map” to determine where and how to change their existing business models.

Originality/value

Because conflicting approaches exist in the literature on how firms change their business models, the review synthesises these approaches and provides a clear guidance as to the ways through which business model innovation can be undertaken.

Details

New England Journal of Entrepreneurship, vol. 22 no. 2
Type: Research Article
ISSN: 2574-8904

Keywords

Open Access
Article
Publication date: 6 June 2022

Elisa Carloni

This study aims to explore the role played by a formal cluster initiative in supporting small firms' internationalization processes. Taking a public–private interaction…

899

Abstract

Purpose

This study aims to explore the role played by a formal cluster initiative in supporting small firms' internationalization processes. Taking a public–private interaction perspective, this study aims to understand interaction mechanisms within an internationalization project implemented by a formal cluster initiative.

Design/methodology/approach

This study uses a qualitative approach based on a case study of a Swedish formal cluster initiative involved in an internationalization project. The case is analyzed through the industrial marketing and purchasing approach, relying on the Actors–Resources–Activities (ARA) framework.

Findings

The analysis highlights the role of formal clusters as supporters and “accelerators” of internationalization processes. Based on the ARA framework, the roles of the public and private actors emerge: the cluster plays the role of orchestrator, supporter and financer, while on the businesses' side, participants assumed the role of customers, displaying various degrees of interest and commitment and giving rise to a leader–follower pattern. Activities occurred at multiple levels, interorganizational, intraproject, interprojects, through different timings and typologies. The main resources at stake were the combination of knowledge, complementary capabilities and financial incentives.

Originality/value

This empirical study provides novel empirical evidence and theoretical development over the phenomenon of formal clusters. This study contributes to the current debate on public–private interaction mechanisms and to the upgrading and circulation of international business knowledge.

Details

Journal of Business & Industrial Marketing, vol. 37 no. 13
Type: Research Article
ISSN: 0885-8624

Keywords

Open Access
Article
Publication date: 26 May 2023

Börje Boers, Torbjörn Ljungkvist and Olof Brunninge

The purpose of this study is to explore how the family firm identity is affected when it is no longer publicly communicated.

Abstract

Purpose

The purpose of this study is to explore how the family firm identity is affected when it is no longer publicly communicated.

Design/methodology/approach

A case study approach was used to follow a third-generation family business, a large Swedish home electronics firm that acquired a competitor and, initially, continued using its family firm identity after the acquisition. This study longitudinally tracks the company and its owning family using archival data combined with interviews.

Findings

The case company decided to stop communicating their identity as a family business. Such a move initially appears counterintuitive, since it potentially threatens the family firm identity and leads the firm to forgo other advantages, e.g. in branding. However, the decision was based on arguments that were rational from a business perspective, leading to a decoupling of family and firm identity.

Originality/value

This study contributes to the literature by showing a decoupling of internally experienced and externally communicated identities. It further contributes to the understanding of the family firm identity concept.

Details

Journal of Family Business Management, vol. 14 no. 1
Type: Research Article
ISSN: 2043-6238

Keywords

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