Dynamic capabilities of family business: a catalyst for survival and growth

Abstract

The purpose of the study is to investigate the dynamic capabilities of family business as a catalyst for survival and growth in Nigeria. A quantitative technique involving a descriptive survey was adopted for the study. A questionnaire measurement instrument was constructed and deployed on a sample of 410 respondents in the selected family businesses. Copies of the questionnaire measurement instrument were conveniently distributed to employees of the selected family businesses to obtain data for the study. Exploratory Factor Analysis (EFA) was used to validate the constructs in the measurement instrument. Structural Equation Modeling (SEM) was used to estimate the structural relationship between constructs of family business dynamic capabilities for survival and growth. The results showed that sensing and seizing, learning and reconfiguration and succession planning capabilities of family business have a significant positive effect on survival and growth. Therefore, family business managers should effectively deploy sensing and seizing, learning and reconfiguration and succession planning capabilities to enhance business survival and growth. AcknowledgmentsThe authors express gratitude to anonymous reviewers, the journal editor and all the authors whose works were used in this study. The authors are grateful to the management of the family businesses included in the study for their approval for the administration of the questionnaire instrument and to the survey respondents who gave their views on the issues raised in the questionnaire instrument.

Examination of survival strategies of quantity surveying firms amid COVID-19 pandemic disruption in Lagos State, Nigeria

“…(2021) add to this the cost reduction strategy. In the same direction, Morgan et al. (2021) analyzed the influence of some dynamic capabilities of family firms in Nigeria (mainly PMEs) concluding that sensing and seizing capabilities, learning and reconfiguration capabilities and succession planning capabilities of the family business had a significant positive effect on survival and growth.…”

“…Focusing on internal company aspects, Mansour et al (2019) assert that the most influential dynamic capability for the survival of an SME in times of crisis is mainly people management, and Salam et al (2021) add to this the cost reduction strategy. In the same direction, Morgan et al (2021) analyzed the influence of some dynamic capabilities of family firms in Nigeria (mainly PMEs) concluding that sensing and seizing capabilities, learning and reconfiguration capabilities and succession planning capabilities of the family business had a significant positive effect on survival and growth.…”