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To compete and to survive in this era of globalization, organizations, including family businesses, need to have competitive advantage, and innovation and…
To compete and to survive in this era of globalization, organizations, including family businesses, need to have competitive advantage, and innovation and internationalization are some of the ways to achieve this. This paper aims to analyze whether family businesses innovate and internationalize more than non-family businesses and further analyses the type of family businesses “age-wise” and “size-wise” that innovate and internationalize more.
The study is empirical in nature. The period of study is 11 years, from 2005 to 2015 (both years inclusive). The sample is chosen from Bombay Stock Exchange (BSE) 500 index, a broad-based index in India, covering about 20 industries of the economy. The present study uses multiple regression models to find the innovativeness and internationalization of family businesses. The dependent variables are R&D (proxy for innovativeness) and FXINC (proxy for internationalization). The independent variables are FB (variable that defines whether a business is family business or non-family business); FBAGE (variable that defines the age of the family business); and FBSIZE (variable that defines the size of the family business). The other control variables used in in the study are TA (total assets), REV (revenue), CR (current ratio), QR (quick ratio), DER (debt-equity ratio) and RONW (return on net worth). Fixed effects model was used to understand the innovativeness and internationalization of family businesses. Both industry and year fixed effects were used. SPSS 20.0 version is used for the analysis. All results are heteroscedastic consistent using Breusch–Pagan test.
It is found that family businesses are more innovative and internationalized when compared to non-family businesses. The results are consistent with the resource-based theory where it is found that family businesses are entrepreneurial in nature (Salvato, 2004; Zahra et al., 2004; Kellermanns and Eddleston, 2006) which makes them more innovative. It was also found that within the family businesses, younger firms were more innovative and internationalized than older firms. This can be explained by the theory of “learning advantages of newness”, according to which younger firms are more flexible, eager to learn, have less internal resistance and are able to adapt to the changing environment much faster.
During the studies, the authors have found that there is no conclusive evidence on the innovativeness and internationalization of family businesses. Further, there are apparently negligible studies that analyze what type of family businesses, age wise (younger or older firms) and size wise (smaller or larger firms) use the strategy of innovation and internationalization to grow. The present study analyses the innovativeness and internationalization of family businesses when compared to non-family businesses and also studies the type of family businesses (age wise and size wise) that are more innovative and internationalized.
The purpose of this paper is to introduce a special issue on entrepreneurship and service innovation, and to conceptualize the link between entrepreneurial orientation, innovation and entrepreneurship or new entry.
Analysis of secondary data.
Entrepreneurial orientation (EO), innovation (IN) and entrepreneurship are in a vital “triadic connect”, where EO supports innovation in organizations and innovation promotes new entry or new venture creation – a vehicle for commercialization of innovations.
There is a need for empirical validation of the linkages proposed in this conceptual paper.
This “triadic connect” between EO, IN and entrepreneurship or new entry is a source of or key driver of organizational performance (OP) and competitive advantage (CA).
The theorization and schematization of the “triadic connect” (i.e. EO–IN–NE link) and outcomes (namely, OP and CA) is presented.
With the growing importance of service quality in Indian retail, it becomes critical for the retailers to identify the appropriate dimensions for their retail stores. In…
With the growing importance of service quality in Indian retail, it becomes critical for the retailers to identify the appropriate dimensions for their retail stores. In the process of evaluating service quality the decision maker is often faced with ambiguities due to the imprecise information gained from the respondents. The purpose of this paper is to present an integrated fuzzy (fuzzy analytic hierarchy process (FAHP) approach to help the decision makers/retailers in practicing and judging the priorities of service quality strategies and accordingly benchmarking retail stores in Indian retail environment.
The study incorporated the five basic dimensions of Retail Service Quality Scale proposed by Dabholkar et al. (1996) and the FAHP approach to three leading apparel retail stores of a major city (Rourkela) of Orissa (an Indian state located in eastern part of the country) to determine the weights of criteria and sub-criteria of retail service quality.
The study identified that the dimensions, namely, personal interaction, physical aspects, reliability and policy are perceived as important by the Indian consumers. Merchandise and the store’s willingness to handle returns and exchanges emerge as the most influencing variable affecting the overall service quality of the store.
The study was restricted to a major city of Orissa and to three apparel stores. The results obtained may not be extrapolated to the country as a whole. The authors believe that the integrated approach of FAHP could be used by a variety of service industries to evaluate the service quality. The study did not investigate switching behavior among the respondents as they had been visiting all the three apparel stores during the preceding months.
The integrated approach of FAHP makes an empirical contribution to the service quality and retail marketing literature by overcoming the uncertainty of concepts those are associated with human beings’ subjective judgments.
The retailer can improve the quality of service provided by them based on the parameters important in Indian context, which will lead to higher customer satisfaction.
This paper can help the retail service providers to identify which of the retail service quality dimensions requires much attention to create sustainable competitive advantage.