Exploration and exploitation strategies in SME family firms
The survival of family firms may lie in their ability in exploiting their current competitive advantage while concurrently exploring new opportunities present in their way. However, scantiness of resources makes it hard to employ both strategies simultaneously. As such, this paper examines on how fa...
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my.utm.896842021-02-22T05:56:28Z http://eprints.utm.my/id/eprint/89684/ Exploration and exploitation strategies in SME family firms Ibrahim, Norshamsiah Mohd. Rizal, Adriana Kamarudin, Suzilawati Md. Husin, Maizaitulaidawati HB Economic Theory The survival of family firms may lie in their ability in exploiting their current competitive advantage while concurrently exploring new opportunities present in their way. However, scantiness of resources makes it hard to employ both strategies simultaneously. As such, this paper examines on how family firms decide to pursue exploitation or exploration strategies. The unique culture of family firms, for instance, long-term orientation, risk aversion, and aspiration, suggests a variety of ways to implement strategies, which could be the exploration or exploitation strategy. Hence, the main objective of this study is to review both the exploration and exploitation strategies found in the literature as practiced in family firms. In addition, this study proposes a conceptual model to further comprehend the decisions made in undertaking exploration and exploitation strategies among family firms. Human Resource Management Academic Research Society 2019 Article PeerReviewed Ibrahim, Norshamsiah and Mohd. Rizal, Adriana and Kamarudin, Suzilawati and Md. Husin, Maizaitulaidawati (2019) Exploration and exploitation strategies in SME family firms. International Journal of Academic Research in Business and Social Sciences, 9 (1). pp. 430-442. ISSN 2222-6990 http://dx.doi.org/10.6007/IJARBSS/v9-i1/5419 |
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HB Economic Theory Ibrahim, Norshamsiah Mohd. Rizal, Adriana Kamarudin, Suzilawati Md. Husin, Maizaitulaidawati Exploration and exploitation strategies in SME family firms |
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The survival of family firms may lie in their ability in exploiting their current competitive advantage while concurrently exploring new opportunities present in their way. However, scantiness of resources makes it hard to employ both strategies simultaneously. As such, this paper examines on how family firms decide to pursue exploitation or exploration strategies. The unique culture of family firms, for instance, long-term orientation, risk aversion, and aspiration, suggests a variety of ways to implement strategies, which could be the exploration or exploitation strategy. Hence, the main objective of this study is to review both the exploration and exploitation strategies found in the literature as practiced in family firms. In addition, this study proposes a conceptual model to further comprehend the decisions made in undertaking exploration and exploitation strategies among family firms. |
format |
Article |
author |
Ibrahim, Norshamsiah Mohd. Rizal, Adriana Kamarudin, Suzilawati Md. Husin, Maizaitulaidawati |
author_facet |
Ibrahim, Norshamsiah Mohd. Rizal, Adriana Kamarudin, Suzilawati Md. Husin, Maizaitulaidawati |
author_sort |
Ibrahim, Norshamsiah |
title |
Exploration and exploitation strategies in SME family firms |
title_short |
Exploration and exploitation strategies in SME family firms |
title_full |
Exploration and exploitation strategies in SME family firms |
title_fullStr |
Exploration and exploitation strategies in SME family firms |
title_full_unstemmed |
Exploration and exploitation strategies in SME family firms |
title_sort |
exploration and exploitation strategies in sme family firms |
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Human Resource Management Academic Research Society |
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2019 |
url |
http://eprints.utm.my/id/eprint/89684/ http://dx.doi.org/10.6007/IJARBSS/v9-i1/5419 |
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1692991812195581952 |
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13.19449 |