The myth of the stay-at-home family firm: How family-managed SMEs can overcome their internationalization limitations

Hennart, Jean François; Majocchi, Antonio; Forlani, Emanuele

doi:10.1057/s41267-017-0091-y

Cited by 170 publications

(153 citation statements)

References 110 publications

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“…At the same time, there is always a need for prudence and commensurability in developing new theories. First, even though it was originally developed to explain the emergence of large manufacturing MNEs in the post-WWII era, the basic analytical approach of the theory is arguably still applicable to explaining the boundary choices by other types of MNEs in different time periods such as those from emerging economies (Verbeke & Kano, 2015), sponsored by the state (Grøgaard et al, 2019), run by a single family (Hennart et al, 2017), or focusing on digital services (Banalieva & Dhanaraj, 2019;Hennart, 2019). Therefore, a judicious approach to studying a seemingly new type of transaction or firm is perhaps first to assess carefully whether internalization theory still has substantial explanatory power to effectively explain the 'new' governance mode, transaction, or firm.…”

Section: Discussionmentioning

confidence: 99%

“…More recent work by Hennart and his co-authors has examined the international expansion of small family firms (Hennart, Majocchi & Forlani, 2017) and the conditions for firms to emerge and survive as 'born globals' (Hennart, 2014), further developing the asset bundling perspective (Hennart, 2012). This body of research suggests that the adoption of a business model requiring little local adaptation in product and marketing-mix makes access to complementary local expertise inconsequential and thus enables these firms to expand overseas using primarily the 'market' mode.…”

Section: The Buckley and Casson Streammentioning

confidence: 99%

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Applying and advancing internalization theory: The multinational enterprise in the twenty-first century

et al. 2019

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Internalization theory has provided a resilient analytical framework that explicitly or implicitly underlines much of International Business scholarship. Internalization theory is not a monolithic body of knowledge; instead, it has devolved into several 'streams', each of which focuses on the interests of particular epistemic communities, while also acting as a more generic organizing framework for those more broadly interested in its application to real-world challenges. Following a review of the various streams, we trace the frontiers of current research of the broader internalization framework and identify emerging themes raised by the papers in the special issue. These include transaction cost considerations in the bundling and recombination of assets across diverse contexts, the growing relevance of quasi-internalization, the theoretical challenges of (bounded) rationality for internalization theory, and the increasing disconnect between ownership, control and responsibility. These developments point to new research frontiers for scholars looking to apply or advance internalization theory.

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Section: Discussionmentioning

confidence: 99%

Section: The Buckley and Casson Streammentioning

confidence: 99%

Applying and advancing internalization theory: The multinational enterprise in the twenty-first century

et al. 2019

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“…It must be expressed that internationalization poses a new challenge for many family companies, as it requires a much more specialized approach because the company is stepping out of domestic market boundaries. Moreover, nowadays family businesses must be competitive globally while trying to export their products and services to new markets [48,49].…”

Section: The Role Of Owner In the Definition Of Successful Customer Rmentioning

confidence: 99%

Family Business Owner as a Central Figure in Customer Relationship Management

Arsić

Banjević²,

Nastasić³

et al. 2018

Sustainability

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This paper presents theoretical and empirical research on the activities and attitudes of a family business owner regarding marketing as a business function. The development of successful business relationships of a family business is tightly connected with the activities of the business owner. The theoretical review examined numerous family and non-family business studies by analyzing the existing paradigms of marketing management as a whole. The empirical research, surveying 420 family businesses in Serbia, defined the overall role of the family business owner in customer relationship management regarding business-to-business (B2B) and business-to-consumer (B2C) relationships. Key findings suggest that the main difference in customer relationship management (CRM) between family and non-family companies is related to B2B relationships, which the family business owner is heavily involved in managing, in terms of invested time and responsibility. Future research should cover aspects of internationalization (to regional markets) because it is essential to cross-examine regional with local contacts of a family business owner, to provide full comprehension of the complexity of market relationships in a family business environment.

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“…In order to enable entrepreneurship in a country, it is essential to create such environment that would not impose barriers that would disable or limit business activities. In global business environment, the last decade has witnessed a great attention aimed towards family enterprises [1,2,3]. In market economies, family business has a long tradition.…”

Section: Introductionmentioning

confidence: 99%

Global determinants of sustaining and developing family enterprises in Slovakia

2020

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Family enterprises play an important role in global economies and in national economies of all developed countries. Creating new, and maintaining the existing family enterprises, combined with their continuous development should be the key priority of all countries. Based on the evaluation of the current state of family business in Slovak micro, small, and medium enterprises, the main objective of this paper is to identify the key determinants which affect its development. At the same time, the authors propose such measures the implementation of which into business practice will lead to sustainability of the existing, as well as the support of the newly established family enterprises in Slovakia. The research has been evaluated with the use of methods of testing the statistical hypothesis and methods of descriptive statistics. As the conducted research has proved, at the external environment, the most negative determinant that limits the activities of family enterprises is strong competition of other enterprises operating in the Slovak market. The biggest problem related to internal environment of family enterprises is obtaining a stable qualified. The results led to conclusions and recommendations, the implementation of which into practice will help to support family business in Slovakia.

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The myth of the stay-at-home family firm: How family-managed SMEs can overcome their internationalization limitations

Cited by 170 publications

References 110 publications

Applying and advancing internalization theory: The multinational enterprise in the twenty-first century

Applying and advancing internalization theory: The multinational enterprise in the twenty-first century

Family Business Owner as a Central Figure in Customer Relationship Management

Global determinants of sustaining and developing family enterprises in Slovakia

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