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This paper aims to introduce a supplementary strategic mapping tool designed specifically for family businesses. The authors extend the popular tool of strategy maps into the family business arena to address potential misalignments arising from the family imprint on a business. The resulting family enterprise strategy map (FESM) aims, both literally and figuratively, to get internal stakeholders on the same page in their pursuit of family business objectives. Using the FESM, family managers can enhance strategy design and implementation, thereby increasing the viability and longevity of their enterprises for future generations.

The framework draws from previous work on strategic maps, from scholarly research on family businesses and from the authors’ experiences consulting with family enterprises. The framework addresses four distinct but interrelated perspectives requiring managerial attention: family business objectives, family alignment, family systems and family business foundation. The case of Mondavi Winery is used to illustrate the prescriptive value of the FESM.

The FESM is meant to be used cooperatively among internal stakeholders to tease out potential challenges that can hinder the effective design and implementation of a family business strategy. The FESM makes explicit the primary objectives of the family business, prompts stakeholders to voice professional and personal ambitions in the business and brings individual risk propensities to the dialogue. Systems and activities necessary for successful strategy implementation are also underlined in the FESM. Lastly, the framework helps to identify the strategic foundation that can be leveraged to achieve the family enterprise’s objective.

The value of the FESM is threefold. First, having family members and non-family managers engage in this activity can make known individual, family and non-family functions, desires and goals. In doing so, the FESM also effectively highlights misalignments among and between various internal stakeholders that may otherwise go unnoticed. Second, the FESM draws management’s attention to specific family-related resources and capabilities within the company and, just as importantly, those that need to be cultivated to achieve strategic objectives. Third, the FESM can serve as a valuable reminder during those times when family systems begin to malfunction or to diverge from intended objectives.

This paper aims to emphasize the importance of crafting and selecting business models and strategies of family business in the process of internationalization.

Based on literature review about international entrepreneurship, strategic management, models and strategies of internationalization, a new conceptual framework on family businesses internationalization is provided.

Family businesses, depending on their size, use different models and strategies to internationalize their activities.

This paper provides a new conceptual framework about internationalization of family businesses, which is based in three main phases: operating in a domestic market and get prepared for a foreign market, selecting the right model of internationalization and selecting the right strategy of internationalization. Beside the new conceptual model, the authors provide the implications of this model toward internationalization of family businesses, and the authors propose some useful recommendation for further research in this field.

This paper attempts to reconcile two opposing views of the strategies and conduct of closely held firms: that of entrepreneurship and that of family business. The former view suggests that these firms tend to be value maximizing organizations that pursue growth strategies and outperform. The latter often argues that these businesses are utility maximizers that pursue conservative harvest strategies and fail to outperform.

In order to reconcile the controversy, this paper examines the literature in an attempt to relate ownership priorities and risk taking preferences to governance distinctions relating to family involvement, ownership, and management.

It concludes that the value‐maximization expectations of the entrepreneurship literature apply only to lone or unrelated founder businesses whose owners, unencumbered by family distractions, embrace growth and outperform. By contrast the utility‐maximization expectations of the family business literature apply when there are multiple family owners or executives. These parties are argued to be harvest‐oriented, mediocre performers, especially after a new generation has entered the firm. This may be because their priorities and loyalties are shared between business and family considerations. However, family and lone founder firm outcomes are argued to be further shaped by owners' levels of control and ownership, their managerial roles, and the breadth of family personal and generational involvement.

The analysis has implications for the effective governance, board composition, and management of these different types of firms.

The paper reconciles two important literatures to derive implications for strategy and performance that must be addressed by agents of corporate governance in family and founder firms.

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.

Technological advances in the last decade have caused both business and economic sectors to seek for new ways to adapt their business models to a connected data-centric era. Family businesses have also been forced to leave behind traditional strategies rooted in family stimuli and ties and to adapt their actions in digital environments. In this context, this study aims to identify major online marketing strategies, business models and technology applications developed to date by family firms. Methodology: Upon a systematic literature review, we develop a multiple correspondence analysis (MCA) under the homogeneity analysis of variance by means of alternating least squares (HOMALS) framework programmed in the R language. Based on the results, the analyzed contributions are visually analyzed in clusters.

Upon a systematic literature review, we develop an MCA under the HOMALS framework programmed in the R language. Based on the results, the analyzed contributions are visually analyzed in clusters.

Relevant indicators are identified for the successful development of digital family businesses classified in the following three categories: (1) digital business models, (2) digital marketing techniques and (3) technology applications. The first category consists of four digital business models: mobile marketing, e-commerce, cost per click, cost per mile and cost per acquisition. The second category includes six digital marketing techniques: search marketing (search engine optimization and search engine marketing (SEM) strategies), social media marketing, social ads, social selling, websites and online reputation optimization. Finally, the third category consists of the following aspects: digital innovation, digital tools, innovative marketing, knowledge discovery and online decision making. In addition, five research propositions are developed for further discussion and future research.

To the best of our knowledge, this study is the first to cover this research topic applying the emerging programming language R for the development of an MCA under the HOMALS framework.

There is a growing consensus that entrepreneurial activity is essentially a collective family endeavour, with some configuration of family involvement in business (FIB) working better than others. This paper aims to examine the effects of FIB on strategy and financial performance (FP), drawing from the institutional theory for the Indian family businesses.

The sample comprises of 105 pharmaceutical companies listed on the Bombay Stock Exchange for FY2013–2017. A two-way random effects panel model was invoked to examine the relationship between FIB and strategy, as well as the intermediating effect that strategy has on the FIB-FP link.

On average, the family has a high ownership concentration, with the founders predominantly holding the chief executive officer (CEO) and chair positions. The econometric results highlight that the founder’s descendants adopt a conservative strategy. A significant positive moderating effect of strategy on FIB-FP link was observed for the descendants as the largest owners, CEO and board chair. The presence of a professional CEO and independent chair, however, leads to an intervening adverse impact on FP. The ownership-management-governance configurations highlight that some combinations of family and non-FIB leads to better performance than others.

The study provides a plausible explanation for the conflicting evidence on the direct FIB-FP relationship through the strategy intermediation. The institutional perspective emphasizing the identity and role family members play in terms of strategy provides an unconventional epistemological underpinning to the present research.

The aim of this study is to determine the context of short‐ , medium‐ and long‐term functional strategies of small‐ and middle‐sized family businesses carrying on activities in different sectors, as well as to discuss the findings from the point of view of the strategic orientations required by global competition.

The data of this research, having explorative characteristics, were gathered from the 36 owners‐managers (from 111 people) who were leaders in constituting the strategies of their businesses. The survey used in the study consists of 32 items regarding management/human resource management, marketing, production, and finance functions. The data were evaluated with the descriptive and variance analyses.

The paper finds that the enterprises participating in this study apply or plan to apply, in the short term, institutionalism and customer‐focused strategies. However, financial problems limit the attempts for developing and growing, which creates a risk for the life cycle of the businesses which cannot grow up to the right scale in the right time. Another major concern pointed out in this study is that the enterprises whose owners/managers are the members of any commercial and social organization respond to innovations and change more rapidly.

One of the main limitations of the study is that the owner/manager perceptions were the only source of data. The lack of a measure of the efficiency level of functional strategies and practices or performance of enterprises is the second limitation. On the other hand, the small sample size does not allow generalizations to be made.

This study evaluates the potential of strategic management of small and medium‐sized family businesses

The purpose of this paper is to investigate what types of open innovation search strategies are associated with internal innovation activities in family and non-family SMEs within natural resource-based clusters.

This study is based on an empirical analysis of a sample of 245 Chilean firms.

Results suggest that while family and non-family SMEs do not significantly differ in terms of internal innovation activities, important differences exist in terms of open innovation search strategies. In particular, family SMEs search for new ideas and knowledge within their closest network of relationships (e.g. customers, suppliers and competitors), whereas non-family SMEs mainly focus on broader network relationships (e.g. universities, public institutions and fair trade organizations).

This study shows that within a natural resource cluster, the types of firm do matter. In fact, family and non-family SMEs use different open innovation search strategies to innovate; hence, this research may help and assist policy makers in tailoring innovation policies aimed at expanding the potential benefits of clusters for regional growth and development.

This research addresses the call to further investigate the link between family SMEs and innovation in developing countries, given that SMEs may also act as a lively player for regional development.

El objetivo de este artículo es investigar las estrategias de búsqueda de innovación abierta de las pequeñas y medianas empresas familiares y no familiares en un clúster basado en los recursos naturales.

Este estudio está basado en un análisis empírico con una muestra de 245 empresas Chilenas.

Los resultados muestran que no hay diferencias significativas en las actividades internas de innovación entre las pequeñas y medianas empresas familiares y no-familiares de la muestra. Sin embargo, se han encontrado diferencias en las estrategias de búsqueda de innovación abierta que utilizan de las empresas. Las empresas familiares buscan nuevas ideas y conocimiento para innovar entre sus contactos más cercanos (por ejemplo: clientes, proveedores y competidores). Las empresas no-familiares se enfocan en contactos más amplios (por ejemplo: tales como universidades, instituciones públicas y ferias internacionales).

Este estudio muestra que distinguir entre empresas familiares y no familiares dentro de los clúster basados en los recursos naturales es importante. Las pequeñas y medianas empresas familiares y no familiares usan diferentes estrategias de búsqueda de innovación abierta. Por lo tanto, nuestros resultados pueden ayudar al diseño de políticas públicas de innovación diferenciando empresas familiares y no familiares con el objetivo de potenciar los beneficios de los clúster para el crecimiento y desarrollo regional.

Este artículo intenta avanzar en la investigación relacionando innovación y pequeñas y medianas empresas familiares en países en desarrollo.

The purpose of this paper is to enhance the longevity and improve the succession process in small family businesses sustaining in Pakistan. Family businesses perform an active role in economic development of any country. Statistics shows, 30/13/3 business transfers into subsequent generation in the interfamily business (Ward, 2016).

Data are collected from 365 respondents who were either incumbents or successor in 135 small family businesses in Pakistan. Simple linear regression and process control analysis by Andrew Hayes are used for moderating variable analysis in SPSS20.

The results show that customer focus management, business strategies and governance board have a significant positive impact on the succession process of small family business in Pakistan. There is negative significant moderating impact of education on business strategies and customer focus management while there is no moderating impact of education over governance board and satisfaction with succession.

This study will help the family business incumbents to focus deliberately on the factors that influence the succession process so that business could be transferred to the subsequent generation successfully.

The previous research does not show the effect of education at different levels and importance of customer focus management toward the succession process.

The purpose of this paper is to contribute to the entrepreneurship theory in family firms as it focuses on the relevance of an ambidextrous entrepreneurial strategy (Helfat and Peteraf, 2009), thanks to an effective combination between exploitation and exploration activities. The study refers to the food sector, characterized by established food traditions and changing consumption patterns.

After reviewing the topics, the authors referred to Goel and Jones (2016) for its representativeness for the research. The authors conducted an explanatory case study in which the authors identified the framework’s three sub-systems impacting the above family business systems. The case study is relevant because Eataly, a family-owned and -managed firm, is gaining recognition while applying a strong entrepreneurial strategy and it is unique in the world for the strength of its commercial strategy and dimensions.

Entrepreneurship strategies can be explained by combined organizational antecedent conditions, represented by three sub-systems: family, business and ownership. The sub-systems’ features and their interrelations play a relevant role in influencing entrepreneurial exploration and exploitation processes.

The study contributes to the actual entrepreneurship theory in family firms because it indicates the relevance of an ambidextrous entrepreneurial strategy, thanks to a combination of exploitation and exploration activities. In addition, it analyses the so-called antecedent conditions in organizations to achieve this favorable combination. Limitations involve the case study method and interview technique, both of which could be expanded.

Several practical implications follow for different stakeholder categories (food sector companies, investors and private/public entities) concerning the management of antecedent conditions, the consequences of entrepreneurial investment policy, and tourism and territorial development.

This research is novel because it combines an ambidextrous entrepreneurship approach (Goel and Jones, 2016) with the family firm’s sub-systems (Tagiuri and Davis, 1982), observing how these sub-systems are relevant to defining and managing effective entrepreneurship strategy in a family food firm. The value added is particularly relevant in the food sector, which is characterized by low research and development. In addition, it requires innovative approaches to stimulate customers’ perception of market demand, to satisfy their needs and to sustain family firms in a highly competitive environment.