New value creation and family business sustainability: Identification of an intergenerational conflict resolution strategy

Exploring Challenges Forefront to Family Business Leaders: A Perspective of Family Business Owners

“…Establishing effective governance frameworks is crucial for the long-term success of the firm and the family's harmony (Ramadanti et al, 2021). When conflicts arise between the interests of family members and company goals, it is frequently required to carefully negotiate in order to create a balance that sustains both family connections and corporate objectives (Ardyan et al, 2023). Family business executives also have challenges in making strategic decisions because they must strike a balance between the long-term objectives of the firm and the interests of many stakeholders (Wahyudi et al, 2021).…”

Resilience and Conflict: The Roles of Copreneurship, Transgeneration, and Dark Side of Family Business

“…This is due to the failure to separate public and private life in business, love and work, and personal and business relationships as unique flavors, which leads to non-objective and irrational decisions (Kim & Gao, 2013). Copreneurship gives birth to couple leadership; when the spouse does not adopt the basics of professionalism, small tensions often trigger conflicts that disrupt business management (Ardyan, Timotius, & Sutrisno, 2023). In feminist literature, the role of women cannot be changed, especially as it is tied to its main culture.…”

“…Conflicts could be interpersonal conflicts among families due to the addition of new family members from the descendants of each partner, which ultimately leads to increasingly complex processes and tasks (Ardyan et al, 2023). Disputes among families in the next generation are possible due to a lack of ownership and love for the inherited business, thus affecting commitment, perspective, and attitudes toward business continuity (Hoelscher, 2014;Paskewitz, 2021).…”

“…Family business resilience is the ability to adapt to survive and bounce back in the face of internal and external turmoil (Hayward, Forster, Sarasvathy, & Fredrickson, 2010;Manfield & Newey, 2017). Such internal disturbances include family conflicts, disharmonious personal relationships, unclear division of tasks, resource allocation, and debate over who is responsible for doing what (Ardyan et al, 2023). Meanwhile, external disturbances include product failure, market rejection, and global macroeconomic tur turmoil (Ciasullo, Montera, & Douglas, 2022).…”

“…The family business's dark side construct was measured by five question items adopted from Harbi et al (2020) and Montiel Mendez and Soto Maciel (2021) with a Likert scale of 1 (strongly disagree) to 7 (strongly agree). The conflict construct consists of four question items adopted from Qiu and Freel (2020), Ciasullo et al (2022), andArdyan et al (2023) with a Likert scale of 1 (strongly disagree) to 7 (strongly agree). Lastly, the family business resilience construct was measured by four question items adopted from Suess-Reyes (2017), Rahman and Mendy (2019), and Zehrer and Leiß (2019), with a Likert scale of 1 (strongly disagree) to 7 (strongly agree).…”