Narratives of survival: how entrepreneurial families narrate their longevity

Abstract

PurposeThe question of crisis resistance and resilience of long-lived family businesses became particularly volatile with the beginning of the Corona crisis. In this context the project “Narratives of Survival” was launched focusing on the prevailing narratives to find out how crisis situations have been dealt with and narrated by long-lived German family firms.Design/methodology/approachBased on narrative interviews, the empirical study of transgenerational entrepreneurship was first approached in an open-ended manner. The interview guideline addresses different types of crises and asks about resources, insights, regulations and explanations for the longevity of the family businesses.FindingsIn the qualitative content analysis, 12 guiding narratives were pointed out, providing information about the self-narratives of these entrepreneurial families which revolve around the three themes of self-image, familiarity and strategy.Originality/valueThis study provides information about the secrets of longevity of four very old family firms. The narratives revealed that strengthening the identity of the entrepreneurial family and employees of the family business as well as generating a shared reality, supports constructive handling of challenges and crises. This study contributes to theory by answering calls for narrative analysis in family firms and to practice by showing what younger companies can learn from long-lived family businesses.

Effectuation and strategic evolution for sustainable longevity: the case of a 19th-generation family firm

“…This finding aligns with previous research highlighting firm resources and capabilities as key drivers in sustainable longevity (e.g. Boyd et al, 2023;Giner and Ruiz, 2022). However, such research has primarily relied on evolutionary theory, the RBV and organisational ecology theory principles (Habbershon and Williams, 1999;Hannan and Freeman, 1977;Nelson and Winter, 1982).…”

“…This literature has been moving from a focus on the business dynamics to a focus on the role of family interactions, goals and priorities in these organisations' transgenerational survival. This is important because recent research suggests that a family firm will survive through generations only if it understands the complexity and correctly manages its connection with the firm dynamic (Boyd et al. , 2023).…”

“…From both a theoretical and methodological perspective, this study offers significant contributions. First, it contributes to the literature on transgenerational value creation and the survival of family businesses (Boyd et al ., 2023; Chirico and Nordqvist, 2010). Our study identifies specific strategies/mechanisms through which a family firm can uphold transgenerational continuity.…”

“…Third, we add to the literature at the intersection of entrepreneurship and family firms (e.g. Boyd et al ., 2023; Jones and Li, 2017). We identify specific conditions in family firms in which effectuation logic prevails over causation to support the firm's entrepreneurial endeavours.…”

Powerful stories

“…For family businesses, the work of Boyd et al (2023) has demonstrated that three key guiding narrative principles dictate success. These focus on self-image, the relationship level and family factors, and strategy aspects of the orientation and continuation of long-lived family businesses and their families.…”