Family Entrepreneurship: Insights from Leading Experts on Successful Multi-Generational Entrepreneurial Families [1st ed. 2021] 9783030668457, 9783030668464

Table of contents :
Contents
Notes on Contributors
List of Figures
List of Exhibits
List of Tables
1: The Secrets of Successful Entrepreneurial Families: Insights from the World’s Experts on Multi-Generational Entrepreneurial Families
Introduction
Reference
Part I: Characteristics of the Entrepreneurial Family
2: Family Capital: The Key to Entrepreneurial and Family Success
Model of Family Capital
Family Structure
Family Culture
Family Activities
Family Trust
Repairing Interpersonal Trust
Repairing Competence Trust
Repairing Institutional Trust
Family Capital Transfer Activities
The Outcomes of Family Capital
Conclusion
References
3: The Essential Role of Trust in Family Business Entrepreneurship
Trust: What Is It?
Building Entrepreneurial Trust
Ability: The Skill to Succeed and Risk of an Assassin
Benevolence: The Care and Concern for the Family and the Risk of the Schlemiel
Integrity: Principle-Driven Leader or the Risk of the Zealous Martyr
Broken Trust
References
4: Managing Legacy, Achievement and Identity in Entrepreneurial Families
A Framework for Success in Family Firms
Lessons from Field Research
Identity Questions and Tensions
Making Family an Identity Workspace
Conclusion: Achieving an Entrepreneurial Legacy
Coda
References
5: Discerning the Importance and Nature of the Family System in Relation to the Family Firm: A Paradigm Shift
Introduction
Defining the Family Firm
Purpose and Objectives
The Importance of the Family System in Relation to the Family Firm
Conceptual Frameworks of the Family Firm
The Sustainable Family Business Theory
The Sustainable Family Business Theory Constructs
The SFBT Sustainable Family Business Theory Assumptions
Entrepreneurial Value Creation Theory in Relation to the Family Firms
The Unique Nature and Dynamics of the Family Firm
Prevailing Family Firm Myths
The Dilemmas of the Prevailing Family Firm Myths
Exemplar Nexuses Between Family and Entrepreneurial Firms
The Secrets or Hidden Truths of the Family Firm
The Challenge of a Paradigm Shift
Implications for Researchers
Implications for Practice
The Implications of a Paradigm Shift
References
Part II: Preparing the New Generation of Family Entrepreneurs
6: Can Entrepreneurship Be Continued from One Generation to the Next? The Answer to that Question Can Be Found in the Socialization Process
Socialization
Socializing Entrepreneurship
Conclusion
References
7: Tilling the Soil—And Wait and See How the Next Generation Develops
Introduction
Why it is So Important That No Coercion is Used
How to Cultivate the Field in a Way That Promotes Entrepreneurial Mindsets of the Next Generation without Putting Pressure on Them
How Wide the Range of Harvest Results from the Cultivated Field Can Be
Conclusion
References
Part III: Developing Entrepreneurial Leaders
8: Sustaining a Multi-Generational Family Enterprise Through Ambidextrous Leadership
Introduction
Explorations
Exploitations
Concluding Insights
9: The Importance of Externally Focused Self-awareness to Family Entrepreneurship
Externally Focused Self-Awareness in the Family Business
Linking Family Entrepreneurship to Self-awareness
What is the Antidote for Low Self-awareness?
How Do We Get There? Developmental Conversations
Conclusion
References
Part IV: Advancing Family Entrepreneurship
10: Antecedents to Entrepreneurship: How Successful Business Families Nurture Agency and Kindle the Dreams of the Next Generation
Agency Within Family Enterprise
Modeling
Conveying an Honest Family Narrative
Persevering Together
Nurturing and Giving Permission to Dream
Fostering Curiosity
Conveying Scarcity in a Context of Abundance
Entrepreneurship Funds: At the Right Time and in the Right Way…
Entrepreneurial Challenges Ahead
References
11: Who Do You Think You Are? Who Do They Think You Are? The Golden Cage and the Silver Spoon
The Golden Cage of the Successor’s Social Representation
National Newspapers and Metaphors
Largo Winch BD: The Everyday Life of a Family Business Successor
Becoming Who You Want to Be or Who They Want You to Be?
The Next Generation Entrepreneur in Practice
Conclusion
References
12: From Family Businesses to Entrepreneurial Families: Tacit Knowledge at the Core of Entrepreneurial Learning
The Family as an Entrepreneurial System
Tacit Knowledge and Entrepreneurial Learning
References
13: The Successor Conundrum: A Moral Dilemma
No Room for Rebels
Impossible Emancipation?
What About Entrepreneurship?
References
14: Family Entrepreneurship Education: Where Are We? Where Do We Need to Go from Here?
Introduction
Where We Are Now
Where We Should Go from Here
Conclusion
References
Part V: Establishing the Entrepreneurial Family
15: Intrapreneurship: A New Lens on Developing Capability in the Rising Generation
Introduction
Why Intrapreneurship Matters to Family Enterprises
Intrapreneurial Capability in a Family Enterprise
The Need for a Broad-Based View of Intrapreneurship
The Importance of Development
How to Build an Intrapreneurial Skillset
Individual Dimension
Family Dimension
Ownership Dimension
Business/Industry Dimension
Becoming an Intrapreneurial Learning Family
Where to Start
16: Gathering Multiple Generations at the Dining Room: The Secret Toward an Entrepreneurial Family Continuity
Secret 1: Identify Next Generation Intrinsic Motivation to Develop or Participate in Entrepreneurship Projects
Secret 2: Take Advantage of the Genuine Motivation of the Entrepreneurial Family Leader for the Firm Growth and Leave a Legacy
Secret 3: Change your Mindset as a Leader of the Entrepreneurial Family (from One Man Band Controller to Mentor Orchestra Director)
Secret 4: Empower the Rising Generation (Boost Your Self-Esteem and Show Results)
Secret 5: Create a Space for Transfer Knowledge Among Generations
Secret 6: Establish the Strategic Role of Facilitating and Accompanying
Secret 7: Incorporate Innovative Learning Tools and Activities for the Creation of Entrepreneurial Family Value
Secret 8: Create or Participate in a Formal Transgenerational Entrepreneurship Learning Program for Your Business Family
In Practice
Pre-Hispanic Corporation
Conclusions
References
17: Two Sides of the Same Coin—How Intra-Family Communication Affects Entrepreneurial Spirit over Generations in Family Businesses
Introduction
Intra-Family Communication Behind the Business—Two Sides of the Same Coin
Practical Implications
Practical Takeaways for Business Families
Conclusion
References
18: The Family Business University: How to Live, Create and Tell Your Family Business Story
Introduction
Putting the Family in Family Business
The Family Business Incubator
Storytelling
Learning Business
The Imprinting of Entrepreneurship
Learning Your Family Business—The Family Business University
Concluding Remarks
References
Part VI: Fostering Family Entrepreneurs
19: Nurturing the Next-Generation Family Entrepreneurs in the Business Family
TPB and Business Family Entrepreneurship
Developing Efficacy Through Mentoring
The Who of Mentoring the NGFE
The How of Mentoring the NGFE
Beyond Mentoring
Epilogue
Implications for the Business Family
References
20: Upping Your Family’s Entrepreneurial Game
Communicate Your Stories Well
Establish Structures Before You Need Them
Calibrate Your Support
Test for Viability
Offer Benefits Beyond Money
Give “Boosts” Without Micromanaging
Give Space
Support Aspiring Entrepreneurs Who Want to Flourish on Their Own
Allow an Intrapreneur Breathing Room
Allow Them to Fail
Conclusion
Case Study: A “Pot of Gold” with Rules and Communication
The Story
What They Did
What They Learned
What We Advised
Questions for You to Consider
Part VII: The Future of Family Entrepreneurship
21: Fostering Entrepreneurialism and Intrapreneurialism Within the Family Enterprise System
Enterprising Families in Times of Change and Disruption
Growing Desire of Enterprising Families to Foster Entrepreneurialism
Trend 1: Fostering Entrepreneurialism and Intrapreneurialism Within the Family Enterprise System
Trend 2: Engaging with the External Entrepreneurial Ecosystem
Five Mechanisms of Fostering Entrepreneurialism and Intrapreneurialism Within the Family Enterprise System
Illustrating Family Entrepreneurialism, Family Intrapreneurialism, and Engaging with the External Entrepreneurial Ecosystem: Case Studies
Mechanism 1: Family Entrepreneurialism. Association Familiale Mulliez (AFM)
Mechanism 2: Family Intrapreneurialism. De Agostini
Mechanism 3: Family Investments in the External Ecosystem. Pentland Group
Lessons Learned
22: From Allocators to Acquirers: The Family Investing Model and Transgenerational Entrepreneurship
The Dual Challenge of Business and Family
The Family Investing Model
How Families Are Getting It Right
Alignment Around Purpose and Process
Investment Focus
Governance & Operations
The Challenge of Expectations Management
Best Practices in Family Investing
A Path to Transgenerational Entrepreneurship
References
23: Because Family Cares: Building Engagement for Family Entrepreneurship Through Sustainability
Introduction
Family Venturing
Sustainable Venturing and Entrepreneurial Families
Igniting Family Entrepreneurship Through Sustainability
Interplaying Between Family Entrepreneurship and a Purpose for Sustainability
Interfacing Between Family Entrepreneurship and Social-Ecological Systems
Conclusion
References
24: Social Capital, Entrepreneurship, and Family Businesses
Introduction
Social Capital: Tenets and Key Issues
Social Relationships to Social Capital
Linking Social Capital to Entrepreneurial Outcomes
Multi-level and Boundary Considerations
Social Capital Tactics for the Entrepreneurial Family Business
Internal Tactics
External Tactics
Conclusions
References

Polecaj historie

Family Entrepreneurship: Insights from Leading Experts on Successful Multi-Generational Entrepreneurial Families [1st ed. 2021] 9783030668457, 9783030668464

This book provides recent ideas, insights, facts, evidence, frameworks, and perspectives on how and why entrepreneurial

1,504 126 5MB Read more

ENTREPRENEURSHIP: creating and leading an entrepreneurial organization 9788131765784, 9788131797679, 8131765784

4,655 388 18MB Read more

Succeeding as a Coach: Insights from the Experts 9781914010262, 1914010264

Succeeding as a Coach is aimed at coaches who have completed their training and are looking to take the next steps on th

140 9 2MB Read more

Multigenerational Workplace: The Insights You Need from Harvard Business Review 1647825024, 9781647825027

Seize the benefits of the five-generation workforce. Generational distrust and ageism are seeping into organizations wo

176 111 3MB Read more

Multigenerational Communication in Organizations: Insights from the Workplace 9780367714284, 9780367714307, 9781003150831

647 59 1MB Read more

Multigenerational Workplace The Insights You Need from Harvard Business Review [Team-IRA] 9781647825010

306 115 8MB Read more

Topics of Family Business Governance: Insights on Structures, Strategies, and Executives [1st ed.] 9783030580186, 9783030580193

This book focuses on the role of the board in family businesses and specifically on processes and topics of strategic im

373 110 2MB Read more

Digital Marketing : Global Strategies from the World's Leading Experts [1 ed.] 9780471008750, 9780471361220

The first in a series of books from Wharton's prestigious SEI Center, managed by Professor Jerry Wind, this referen

317 35 3MB Read more

The Nagorno-Karabakh deadlock: Insights from successful conflict settlements [1st ed.] 978-3-658-25198-7;978-3-658-25199-4

The book examines all relevant models which have been employed in settling ethno-territorial conflicts since the time of

613 66 4MB Read more

Entrepreneurship Education and Training : Insights from Ghana, Kenya, and Mozambique [1 ed.] 9781464802799, 9781464802782

Empirical research has found that entrepreneurial activity correlates positively with innovation and job creation, and g

184 76 7MB Read more