An Exploration of Internal Corporate Venturing Goals in Family Firms

Greidanus, Nathan; Märk, Stefan

doi:10.1080/08276331.2012.10593567

Cited by 11 publications

(8 citation statements)

References 35 publications

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“…Another focus in literature is on the role of family entrepreneurial teams (Discua Cruz et al, 2012) and entrepreneurial stewardship (Discua Cruz et al, 2013) in launching new ventures. Some studies also focus on aligning individual and family motivations and goals with succession processes via venturing (Greidanus and Märk, 2012; Marchisio et al, 2010).…”

Section: Guiding Theorymentioning

confidence: 99%

Next Generation External Venturing Practices in Family Owned Businesses

Ramírez‐Pasillas

Lundberg

Nordqvist

2020

J Management Studies

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Drawing on an Entrepreneurship as Practice (EaP) approach, this article examines how next generation members in family owned businesses (FOBs) engage in external venturing. Our study builds on longitudinal qualitative research in two Mexican FOBs where the next generation launched ten ventures. It reveals five different practices of external venturing used by next generation family members: ‘obtaining family approval’, ‘bypassing family’, ‘family venture mimicking’, ‘jockeying in family’, and ‘jockeying around family’. The five practices are combined into three routes for external venturing: ‘imitating the family business’, ‘splitting the family business’, and ‘surpassing the family business’. Building on notions from Michel de Certeau’s practice theory, this study contributes to theorizing the five practices as ways of operating and the routes as modes of sensing to better understand how next generation family members deal with settings featured by dominant orders within the family and the FOB in their attempts to originate and launch their new ventures.

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Section: Guiding Theorymentioning

confidence: 99%

Next Generation External Venturing Practices in Family Owned Businesses

Ramírez‐Pasillas

Lundberg

Nordqvist

2020

J Management Studies

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“…Similarly, evidence exists that family businesses venture into stand‐alone firms to maintain or increase control over their original business (e.g. seeking to control elements of their original firm's supply chain or distribution channel) (Greidanus and Märk ). Furthermore, a family firm's strategic decision not to internationalize may be a result of pursuing the goal of preserving SEW through long‐term business continuation, seeking not to risk business sustainability (Holt ).…”

Section: Review Of Family Business Goals Literaturementioning

confidence: 99%

Family Firm Goals and their Effects on Strategy, Family and Organization Behavior: A Review and Research Agenda

Williams

Pieper

Kellermanns

et al. 2018

Int J Management Reviews

144

107

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Goals are a key differentiator between family businesses and non-family businesses.To improve understanding of this topic, the authors take stock of what they know about goals in family business. They synthesize prior research findings and classify the research into five categories: family business goal antecedents; goal characteristics; goal-related outcomes; moderators of goal outcomes; and feedback loop. The paper concludes by highlighting future research to advance both family business goal and general management research.

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“…Because of their origination within (and continuous interactions with) the parent organization, ICV initiatives, compared to external ones, are particularly exposed to the idiosyncratic features and challenges of family firms as parent companies (Greidanus 2011;Lumpkin, Steier, and Wright 2011). Moreover, Greidanus and M€ ark (2012) indicate an intuitive link between succession and ICV: succession is one of the main goals characterizing family firms at any stage of development (Brun de Pontet, Wrosch, and Gagne 2007;Venter, Boshoff, and Maas 2005). Family businesses with numerous successors could make use of ICV and develop into a portfolio of multiple firms in order to create a position for the offspring (Au et al 2013;De Massis, Chua, and Chrisman 2008;Michael-Tsabari, Labaki, and Zachary 2014).…”

Section: Internal Corporate Venturing In Family Businessmentioning

confidence: 99%

“…As a consequence of these two gaps, we know very little about the role of family business as parent company and how its organizational context influences CV strategies (Greidanus and Märk ). Our research question is thus the following: How do family firms pursue CV and how do CV‐related decisions change over time?…”

Section: Introductionmentioning

confidence: 99%

How Do Family Firms Launch New Businesses? A Developmental Perspective on Internal Corporate Venturing in Family Business

Brumana

Minola

Garrett

et al. 2017

Journal of Small Business Management

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This conceptual work depicts internal corporate venturing in family business as consisting of two separate and sequential strategic choices: first, the decision about the degree of relatedness between the parent firm and the venture; second, the definition of the level of venture autonomy. Drawing on stewardship theory, we argue that family business dynamics, and in particular the development of the ownership structure, influence how family firms pursue internal corporate venturing and make decisions related to such two steps. We also discuss the contingent effect of corporate governance characteristics and of the national legal system.

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An Exploration of Internal Corporate Venturing Goals in Family Firms

Cited by 11 publications

References 35 publications

Next Generation External Venturing Practices in Family Owned Businesses

Next Generation External Venturing Practices in Family Owned Businesses

Family Firm Goals and their Effects on Strategy, Family and Organization Behavior: A Review and Research Agenda

How Do Family Firms Launch New Businesses? A Developmental Perspective on Internal Corporate Venturing in Family Business

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