Social capital in entrepreneurial strategic management for family business sustainability
How do family business entrepreneurs who have little or no business knowledge or expertise build successful business ventures over time? A study of two family businesses reveal that entrepreneurial strategic management takes on a quality that seemingly unfolds over time and is of an opportunistic an...
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| Format: | Conference or Workshop Item |
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2013
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| Online Access: | http://repo.uum.edu.my/8901/ http://www.icois2013.uum.edu.my/ |
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| Summary: | How do family business entrepreneurs who have little or no business knowledge or expertise build successful business ventures over time? A study of two family businesses reveal that entrepreneurial strategic management takes on a quality that seemingly unfolds over time and is of an opportunistic and emerging nature rather than one that was formally planned in advance.However, a contrasting aspect in the two studies shows that family social capital is a critical factor in embedding and enhancing the nature and quality of business strategy making of the type that is emergent and opportunistic.This suggests that family social capital is a conduit for generating and passing on successful entrepreneurial business strategy skills in family business.However, as next generation founder-owners are likely to enter the family business in different social capital contexts from their predecessors and at the same time, find themselves operating in changing business conditions, can family social capital itself be relied on to assist and support them in sustaining the family business? |
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