A theoretical model of strategic management of family firms. A dynamic capabilities approach

Ismael Barros, Juan Hernangómez and Natalia Martin-Cruz

Journal of Family Business Strategy, 2016, vol. 7, issue 3, 149-159

Abstract: A key issue of family firms’ strategic management is to determine the factors that are specific to family firms. Despite theoretical and empirical progress in understanding the mechanisms behind strategic decision making in family firms, there is still no strategic management theory for family firms. To address this gap, we adapt the dynamic capabilities approach to family firms by developing a theoretical model that attempts to serve as a framework for helping family firms in the strategic decision making process. The model is based on the concept of familiness and family learning mechanisms (knowledge accumulation, integration, codification and socioemotional wealth preservation) suggesting that the interplay of the two impacts on the efficient strategic management of family firms. Theoretical and practical implications are discussed.

Keywords: Family firm; Dynamic capabilities; Familiness; Involvement approach; Essence approach; Strategic management (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (19)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1877858516300742
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:fambus:v:7:y:2016:i:3:p:149-159

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/journaldescription.cws_home/719791/bibliographic
http://www.elsevier. ... 719791/bibliographic

DOI: 10.1016/j.jfbs.2016.06.002

Access Statistics for this article

Journal of Family Business Strategy is currently edited by J.H. Astrachan

More articles in Journal of Family Business Strategy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().