Surviving the coronavirus pandemic and beyond: Unlocking family firms’ innovation potential across crises

Leppäaho, Tanja; Ritala, Paavo

doi:10.1016/j.jfbs.2021.100440

Cited by 60 publications

(70 citation statements)

References 56 publications

(130 reference statements)

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“…Recent evidence from Baù et al [50] demonstrates that family firms use social capital as a distinctive strategic component, and that local embeddedness has a positive influence on their performance, confirming the importance of the social context when considering networking strategies for innovation [51]. Family firms can exchange different types of knowledge, and these knowledge flows generate unique network structures in which each firm assumes a specific role; moreover, family firms do not only establish relationships with other family firms, but also with non-family firms, universities, and other organizations, developing complex patterns of collaboration (e.g., [52]).…”

Section: Literature Reviewmentioning

confidence: 87%

Knowledge Networks and the Role of Family Firms: The Case of an Italian Regional Cluster

Ghinoi

Vita

Steiner

et al. 2021

Journal of Open Innovation: Technology, Market, and Complexity

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Studies on open innovation (OI) have highlighted the importance of inter-organizational knowledge networks. However, little is known about OI networks established by family firms, and their roles in such knowledge networks. By focusing on one of the most important Italian footwear clusters, this paper applies Social Network Analysis to investigate the role of family firms in exchanging knowledge according to their intra-cluster position and extra-cluster openness. Our results provide novel evidence on the role of family firms in OI networks, as they suggest that family firms mainly operate as gatekeepers in the technological and managerial networks, while they act as external stars in the market and managerial networks.

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Section: Literature Reviewmentioning

confidence: 87%

Knowledge Networks and the Role of Family Firms: The Case of an Italian Regional Cluster

Ghinoi

Vita

Steiner

et al. 2021

Journal of Open Innovation: Technology, Market, and Complexity

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Section: Discussionmentioning

confidence: 99%

“…The study on open innovation strategies in family business and non-family business SMEs is completely divergent [146]. Some views maintain that non-family businesses invest more resources and develop a greater capacity for innovation than family businesses [146,147]. Therefore, non-family businesses have a greater propensity and ease towards open innovation, which makes them look like companies that are more collaborative with the outside world and more open to capturing knowledge.…”

Section: Discussionmentioning

confidence: 99%

Innovative Business Strategies in the Face of COVID-19: An Approach to Open Innovation of SMEs in the Sonora Region of Mexico

Valdez-Juárez

Castillo-Vergara

Ramos-Escobar

2022

Journal of Open Innovation: Technology, Market, and Complexity

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The purpose of this study is to analyze and verify the effects of the business strategy (financial and market) and innovation management exerted on the economic indicators and business performances of SMEs in the south-central region of Sonora in Mexico. The effect of electronic commerce and the home office in the management of innovation and corporate performance is also analyzed. In addition, a multigroup analysis was carried out to check if there are significant differences between family and non-family businesses. The sample analyzed comprises 498 SMEs with between 6 and 250 employees in the commerce sector. To collect the information, a questionnaire was developed and applied to the online SME manager through the LimeSurvey Professional platform. The field work was carried out from February to October 2021. PLS-SEM was used for the data analysis. The results report that the business strategy (financial and market) does not have significant effects on the management of innovation and on the economic indicators of SMEs. On the other hand, innovation management has positive and significant effects on the economic indicators and business performance of SMEs. It is also revealed that economic indicators have a positive and significant effect on business performance. Open innovation strategies such as electronic commerce have positive and significant effects on innovation management and corporate performance. Similarly, the home office has significant effects on innovation management. Finally, unknown SMEs were found to be the best performers in innovation management and business performance. The study contributes to the development of the theory of competitive behavior and the theory of resources and capabilities.

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“…Research regularly indicates that family firms possess a superior ability to absorb, adapt to, and recover from crises ( Alonso-Dos-Santos and Llanos-Contreras, 2019 , Amore et al, 2022 , Calabrò et al, 2021 , Le Breton-Miller and Miller, 2022 , Leppäaho and Ritala, 2022 , Lingo and Elmes, 2019 , Minichilli et al, 2016 , Salvato et al, 2020 , Soluk et al, 2021 , van Essen et al, 2015 ). For example, publicly listed family firms have been shown to financially outperform their non-family counterparts in times of crisis, including amid the 2007–2009 financial crisis ( Minichilli et al, 2016 , van Essen et al, 2015 ), or in the aftermath of natural disasters ( Salvato et al, 2020 ).…”

Section: Theory Literature Review and Hypotheses Developmentmentioning

confidence: 99%

“…This can manifest, for example, in more forward-looking resource management to increase robustness during times of hardship ( Sun et al, 2019 ). However, when the survival of the business is threatened, family firms’ strategies can also shift toward a more innovative and risk-tolerant approach in order to cope with the crisis ( Conz et al, 2020 , Leppäaho and Ritala, 2022 ).…”

Section: Theory Literature Review and Hypotheses Developmentmentioning

confidence: 99%

A safe haven in times of crisis: The appeal of family companies as employers amid the COVID-19 pandemic

Jaufenthaler

2023

Journal of Family Business Strategy

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Surviving the coronavirus pandemic and beyond: Unlocking family firms’ innovation potential across crises

Cited by 60 publications

References 56 publications

Knowledge Networks and the Role of Family Firms: The Case of an Italian Regional Cluster

Knowledge Networks and the Role of Family Firms: The Case of an Italian Regional Cluster

Innovative Business Strategies in the Face of COVID-19: An Approach to Open Innovation of SMEs in the Sonora Region of Mexico

A safe haven in times of crisis: The appeal of family companies as employers amid the COVID-19 pandemic

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