Innovation in Family Businesses

Veland Ramadani, Erick P. C. Chang, Ramo Palalić and Esra Memili
Additional contact information
Veland Ramadani: South East European University
Erick P. C. Chang: Arkansas State University
Ramo Palalić: Sultan Qaboos University
Esra Memili: University of North Carolina at Greensboro

Chapter 8 in Entrepreneurial Family Businesses, 2024, pp 151-179 from Springer

Abstract: Abstract This chapter focuses on the challenges that family businesses face to remain competitive in the market. The dilemma of innovate or perish moves the family business to explore for options that may even alter its current offering of products or services. After reading the chapter, students will learn the different forms of innovation; the involvement of the family in the innovation process; and the consequences in the implementation stages.

Keywords: Blue ocean strategy; Creative destruction; Disruptive innovation; Incremental innovation; Product life cycle; Process innovation; Product innovation; Similar offering; Sustainability; Radical innovation; Technological trajectory (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-031-59261-4_8

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DOI: 10.1007/978-3-031-59261-4_8

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