Resources and Innovation in Family Businesses: The Janus-Face of Socioemotional Preferences

Miller, Danny; Wright, Mike; Breton‐Miller, Isabelle Le; Scholes, Louise

doi:10.1525/cmr.2015.58.1.20

Cited by 117 publications

(123 citation statements)

References 34 publications

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“…This conflict lies at the heart of potential dysfunctional strategies that may lead to negative impacts on the firm. Following Verbeke and Kano () and Miller, Wright, Le Breton‐Miller, and Scholes (), we distinguish between functional (i.e., compatible with economic value creation) and dysfunctional (i.e., leading to economic value destruction) noneconomic goal pursuit. Miller et al (, p. 21) label these distinct pursuits of noneconomic objectives as “creating an evergreen organization” versus “feeding parochial family desires,” respectively.…”

Section: Bifurcation Biasmentioning

confidence: 99%

Family firm internationalization: Heritage assets and the impact of bifurcation bias

Kano

Verbeke

2018

Global Strategy Journal

120

100

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Research Summary: We develop a new conceptual framework to uncover governance‐related determinants of family firms’ internationalization, building upon internalization theory. We assess how family firm governance features determine internationalization patterns on two key dimensions: location choice and operating mode. We focus on family governance characteristics that might drive suboptimal internationalization patterns and on removing such suboptimality. We conclude that bifurcation bias, defined as the de facto differential treatment of family or heritage assets versus nonfamily assets, represents a critical family firm‐specific barrier to achieving efficiency in international operations. In the short run, the key difference in international governance is between bifurcation‐biased family MNEs and all other types of MNEs. In the longer run, inefficient, bifurcation‐biased decision making will make place for comparatively more efficient governance. Managerial Summary: Family firms are susceptible to bifurcation bias—a default preferential treatment of family members and resource bundles that hold positive emotional meaning to the family, that is, heritage assets. Such preferential treatment contrasts with that afforded to professional, nonfamily managers and other resources, with which the founding family does not entertain a positive emotional connection. If left unremedied, bifurcation bias will lead to poor decisions in family‐owned multinationals that undertake international expansion, in terms of the choices of which markets to enter and how to enter these. These types of dysfunctional decisions will lead to a decline in competitiveness as compared to nonfamily multinationals. Family firms should, therefore, identify and actively prevent bifurcation bias by implementing the specific safeguarding strategies suggested in this study.

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Section: Bifurcation Biasmentioning

confidence: 99%

Family firm internationalization: Heritage assets and the impact of bifurcation bias

Kano

Verbeke

2018

Global Strategy Journal

120

100

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“…As noted earlier, the notion of paradox (Lewis, 2000;Smith & Lewis, 2011) and the related notion of duality (Jackson, 1999) are very relevant topics for qualitative inquiry given the characteristics of family firms and their complex or 'Janus-faced' nature (Miller et al, 2015). Another distinctive feature of family firms is the interactions between the individual, the firm and the family.…”

Section: Planning For New Futuresmentioning

confidence: 99%

“…Some refer to traditions from sociology (Martinez & Aldrich, 2014), anthropology (Stewart, 2014), family science (Jennings, Breitkreuz, & Jones, 2014) and psychology (Von Schlippe & Schneewind, 2014) to raise new directions, theories and methods for family business research. But still we lack detailed understanding of what Miller et al (2015) refer to as the 'Janus-faced' nature of family firms and their associated dualistic (Jackson, 1999) and paradoxical tendencies (Lewis, 2000;Smith & Lewis, 2011).…”

Section: Introductionmentioning

confidence: 99%

Qualitative research practices and family business scholarship: A review and future research agenda

Fletcher

Massis

Nordqvist

2016

Journal of Family Business Strategy

131

114

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A B S T R A C TIn spite of various calls for a wider application of qualitative research in the family business field, it is our contention that the full potential of qualitative inquiry is not being fully realized. Part of the reason for this relates to the tendency to promote methods choice and diversity rather than addressing the foundational questions and processes which underlie qualitative research choices. These tendencies obscure attention to the reasons why researchers choose qualitative methods and the kinds of foundational issues about family businesses that are brought to light through qualitative research. To address this, we undertake an analysis of the most-cited articles using qualitative methods from an annotated bibliography of family business studies. From this, we identify the strengths and weaknesses of extant qualitative studies in family business research and argue for the need to re-orientate calls in family business research towards the foundational questions (rather than methods) that underline qualitative inquiry.

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“…Managing resources cover managing human resources, financial resources, company reputation, business network, physical resources such as building, machineries and raw materials; capabilities and skill. Miller et al (2015) explain the impact of resources on innovation. Innovation performance is the process outcome of managing company resources to achieve its competitive advantage.…”

Section: Discussionmentioning

confidence: 99%

The Effect of Entrepreneurial Marketing on Managing Resources and Its Impact on Innovation Performance

Wahyudi¹

2017

Proceedings of the International Conference on Business and Management Research (ICBMR-17)

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Globalization affects businesses all over the world, including Indonesia. It results on an increased global competition. Hence, the Indonesian company must compete with other global companies, which can also be outside the industry. Therefore, managers should have the valuable orientation in managing their resources to achieve the competitive advantage through creating innovation performance. This research offers entrepreneurial marketing as these valuable orientations. The objective of this study was to analyze the effect of entrepreneurial marketing on managing resources and to analyze the influence of managing resources on innovation performance. Quantitative method was employed along with the conceptual model which consisted of three constructs. These were entrepreneurial marketing, managing resources and innovation performance.There are two hypotheses. The unit of analysis were the managerial level of manufacture companies. The data is collected through distributed questionnaires. The collected questionnaire is 91 out of 215 distributed questionnaires. The data set is analyzed by using the SPSS (Statistical Package for the Social Sciences) for reliability test, validity test, normality test and hypothesis tests. The findings of the study resulted on the acceptance of all hypotheses. The contribution on theoretical manner is the empirical evident of the effect of entrepreneurial marketing on managing resources and the effect of managing resources on innovation performance. The managerial implication of this research is the entrepreneur could creatively explore entrepreneurial marketing's elements which are proactiveness, opportunity focus, calculated risk taking, innovativeness, customer intensity, resource leveraging and value creation to manage resources for achieving the best innovation performance.

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Resources and Innovation in Family Businesses: The Janus-Face of Socioemotional Preferences

Cited by 117 publications

References 34 publications

Family firm internationalization: Heritage assets and the impact of bifurcation bias

Family firm internationalization: Heritage assets and the impact of bifurcation bias

Qualitative research practices and family business scholarship: A review and future research agenda

The Effect of Entrepreneurial Marketing on Managing Resources and Its Impact on Innovation Performance

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