The Dilemma of Success and Failure in Family Business: Overcoming Failure and Attaining Success

Qurashi, Amber; Hussain, Iftikhar; Mushtaq, Faryal

doi:10.6007/ijarems/v2-i4/121

Cited by 4 publications

(3 citation statements)

References 17 publications

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“…The success of any business depends upon its possession of knowledge resources, successful leveraging of these resources, and implementation of this knowledge in current processes and operations of the firm. The innovations, if given proper attention form managers and practitioners, can generate valuable outputs for organizations, helps them to be competitive, and ensure growth for a longer period (Qurashi et al, 2013). The present study is expected to be a valuable addition for managers and practitioners in SMEs sector.…”

Section: Findings Conclusion and Implicationsmentioning

confidence: 76%

Knowledge Management and Sustainable Firms Growth: An Evidence from SMEs Sector of Pakistan

Hussain

Chaudhary

Arshad

et al. 2020

JBSEE

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The main drive for this research was to investigate the relationship between knowledge management (KM) and sustainable firms’ growth in SMEs sector of Pakistan. Moreover, the research examined the mediating role of product and process innovations on the association of knowledge management and sustainable firms’ growth. A self-administered survey was structured and employed to gather the data from 218 garments related SMEs. The study employed SEM to measure direct and indirect effects. Findings of the study indicates that knowledge management has a positive and significant influence over sustainable firms’ growth while both product and process innovations significantly mediated the knowledge management and sustainable firms growth relationship. Current research findings offer valuable implications concerning the importance of KM in enhancing and facilitating process and product innovations for sustainable firms’ growth. This is a pioneer study for employing a unified model that illustrates the relationships among multiple variables pertaining to KM.

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Section: Findings Conclusion and Implicationsmentioning

confidence: 76%

Knowledge Management and Sustainable Firms Growth: An Evidence from SMEs Sector of Pakistan

Hussain

Chaudhary

Arshad

et al. 2020

JBSEE

View full text Add to dashboard Cite

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“…A few prior studies discussed potential reasons for the failure of family businesses. For instance, Qurashi et al. (2013) identified issues of succession planning, expectation, vision, and procedures as the main factors that determine the success and failure of family businesses, but overlooked entrepreneurial qualities.…”

Section: Literature Reviewmentioning

confidence: 99%

“…A few prior studies discussed potential reasons for the failure of family businesses. For instance, Qurashi et al (2013) identified issues of succession planning, expectation, vision, and procedures as the main factors that determine the success and failure of family businesses, but overlooked entrepreneurial qualities. Similarly, Zeeshan and Ali (2018) identified issues of succession planning, authority, and communication as the main reasons for the failure of family businesses.…”

Section: Sustainability Of Family Business In Pakistanmentioning

confidence: 99%

Exploring entrepreneurial qualities for the sustainability of family businesses in Pakistan

Jamil

Fadzil

Waqar

et al. 2022

JFBM

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PurposeThe purpose of this study to explore the qualities of the entrepreneur which are required for the sustainability of the family business. The sustainability rate of family business has remained low, particularly with the generation change in the long term. In addition, the body of knowledge on entrepreneurial qualities in relation to family business sustainability is fragmented. Hence, an in-depth understanding on this phenomenon is imperative.Design/methodology/approachThis study used qualitative study to explore entrepreneurial qualities that lead to family business sustainability in Pakistan. This study used a case study for in-depth analysis of determine the qualities of the entrepreneurs for sustaining entrepreneurs' business for a longer.FindingsBased on findings, four main themes on the key elements for family business sustainability were identified: cognitive characteristics, leadership role, motivation, and personality traits. These main themes were further divided into sub-themes for in-depth understanding of the qualities of entrepreneur in family business sustainability phenomenon.Originality/valueA broad range of studies have been conducted on entrepreneurial qualities in relation to business performance and success. However, studies on entrepreneurs and entrepreneurs' qualities have mostly focussed on organisational success, and there are limited studies that fully examine entrepreneurial qualities for family business sustainability. Family business sustainability has received considerably less attention.

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Exploring the Role of Agile Operant Resources in the Facilitation of Strategic Orientation: The Case of Family-owned Businesses in Pakistan

Butt

Kausar

Rashid

2021

Global Business Review

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Purpose: No one can deny the pertinent role of resources in each era. Over time, its usefulness enhances, which facilitates firm sustainability in today’s volatile business world. To the best of the author’s knowledge, no study has been done specifically in the context of Family-Owned Businesses (FOBs) in Pakistan regarding the owner’s ability to possess agile operant resources. The purpose of this study is to explore the hidden agile operant resources of the family business owners which facilitate FOBs in strategic orientation. Design/Methodology/Approach: This study resides in a relativistic school of thought based on the interpretive paradigm. It is used as an exemplar of the nature of research. Purposive sampling is used for data collection. Interviews were conducted through open-ended questionnaires and observation of family owners. This study is based on the abductive research approach, which along with Gioia methodology, has been used to develop broader themes for discussion. Findings: This research article provides sound conceptual insights on the strategic orientation of family firms through the pertinent role of learning and observational resources, agile entrepreneurial phronesis and agile sensing skills. The authors proposed a conceptual model for shedding light on the pertinent role of agile operant resource supports to facilitate the strategic orientation of FOBs. Practical implications: This study proposes a framework for FOBs operating in Pakistan by providing novel insights for establishing sustainable firm performance by indicating the pertinence of agile operant resources. FOBs may adopt these agile operant resources to ensure firm strategic orientation in today’s dynamic business world. It also opens new avenues of innovation and growth for FOBs by determining the primitive, significant role of individual FOB owners operant resources. This study can apply to all FOBs. Originality value: In this research, the authors have discussed the iterative themes interactions and their significant role in the context of family firms to understand how learning and observational resources, agile sensing skills and agile entrepreneurial phronesis strengthen firm strategic orientation that drives firm sustainable performance in today’s competitive business world. As Pakistan, like other Asian countries, is considered fertile land for family businesses, such studies can enrich insights through surfacing the FOB owner-possessed resources-based framework and how it supports catering to effective strategic orientation.

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The Dilemma of Success and Failure in Family Business: Overcoming Failure and Attaining Success

Cited by 4 publications

References 17 publications

Knowledge Management and Sustainable Firms Growth: An Evidence from SMEs Sector of Pakistan

Knowledge Management and Sustainable Firms Growth: An Evidence from SMEs Sector of Pakistan

Exploring entrepreneurial qualities for the sustainability of family businesses in Pakistan

Exploring the Role of Agile Operant Resources in the Facilitation of Strategic Orientation: The Case of Family-owned Businesses in Pakistan

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