Family Businesses and Adaptation: A Dynamic Capabilities Approach
Abel Duarte Alonso (),
Seng Kok () and
Michelle O’Shea ()
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Abel Duarte Alonso: Liverpool John Moores University
Seng Kok: Liverpool John Moores University
Michelle O’Shea: Western Sydney University
Journal of Family and Economic Issues, 2018, vol. 39, issue 4, 683-698
Abstract The main objective of this research was to propose a framework centred on the dynamic capabilities approach, and to be applied in the context of family businesses’ adaption to their changing business environment. Data were gathered through interviews with ten FBs operating in Western Australia. Based on the findings, the clusters of activities, sensing, seizing, and transforming emerged as key factors for firms’ adaptation, and were reinforced by firms’ open culture, signature processes, idiosyncratic knowledge, and valuable, rare, inimitable and non-substitutable attributes. Thus, the usefulness of the proposed framework was confirmed. Implications and future research opportunities are presented.
Keywords: Family businesses; Dynamic capabilities approach; Firm adaptation; Adaptive strategies; Western Australia (search for similar items in EconPapers)
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