The Role of Dynamic Entrepreneurial Capabilities and Innovation in Intergenerational Succession of Family Firms

Glykeria Karagouni ()
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Glykeria Karagouni: University of Applied Sciences of Thessaly

Chapter 3 in Innovation and Capacity Building, 2018, pp 31-54 from Palgrave Macmillan

Abstract: Abstract The chapter presents and discusses the role of dynamic entrepreneurial capabilities in family business succession, addressing the need to support and enhance innovation and competitiveness across family generations. A firm’s innovation capability depends closely on knowledge, thereby making it a key resource for obtaining sustained competitive advantage. Succession and innovation are among the hottest topics in the family business literature since the survival rate for these firms is disappointing, especially beyond the second and third generations. The topic is addressed through three case studies: two from Greece and one from Cyprus. Dynamic entrepreneurial capabilities contribute to widening successor(s) knowledge base and enhancing the successful realisation of succession through building on innovation. Dynamic entrepreneurial capabilities can help family firms defy the ominous mortality rates and not simply survive but thrive, as they build succession on innovative initiatives.

Keywords: Family Firms; Family Business Succession; Stelios; Improvisational Capabilities; Business Ecosystem (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pscchp:978-3-319-90945-5_3

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DOI: 10.1007/978-3-319-90945-5_3

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