How important is it for family businesses to maintain a strong entrepreneurial orientation over time?
The purpose of this article is to explore how important is the entrepreneurial orientation for family businesses. Entrepreneurial orientation is an important concept within the entrepreneurship field and it should be maintained through family generations. Proactiveness, risk-taking and innovativenes...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
University of Split, Faculty of Economics
2020-01-01
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| Series: | Management : Journal of Contemporary Management Issues |
| Subjects: | |
| Online Access: | https://hrcak.srce.hr/file/360020 |
| _version_ | 1797207068657057792 |
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| author | Thea Visser Louise van Scheers |
| author_facet | Thea Visser Louise van Scheers |
| author_sort | Thea Visser |
| collection | DOAJ |
| description | The purpose of this article is to explore how important is the entrepreneurial orientation for family businesses. Entrepreneurial orientation is an important concept within the entrepreneurship field and it should be maintained through family generations. Proactiveness, risk-taking and innovativeness form the essence of entrepreneurial orientation, while the generational level is an influential variable, related to entrepreneurial orientation. A preliminary and conceptual study of the described problem was undertaken. Although risk-taking is essential in developing entrepreneurship and sustaining the family legacy, family businesses are risk-averse, due to concerns about reduction in family wealth. Entrepreneurial orientation may be strong at the founder stage, but it decreases as the business moves through generations. Entrepreneurial families should have an entrepreneurial orientation towards business activities, as it provides the vision to mobilise the knowledge within the family business. Strong and consistent family leadership is needed to create a climate favouring entrepreneurial orientation. Families should develop an entrepreneurial spirit and orientation that can sustain the current generation and the entire family into the future. |
| first_indexed | 2024-04-24T09:17:02Z |
| format | Article |
| id | doaj.art-6514bd4c5ac6491c9168487b9a2789f0 |
| institution | Directory Open Access Journal |
| issn | 1331-0194 1846-3363 |
| language | English |
| last_indexed | 2024-04-24T09:17:02Z |
| publishDate | 2020-01-01 |
| publisher | University of Split, Faculty of Economics |
| record_format | Article |
| series | Management : Journal of Contemporary Management Issues |
| spelling | doaj.art-6514bd4c5ac6491c9168487b9a2789f02024-04-15T16:35:09ZengUniversity of Split, Faculty of EconomicsManagement : Journal of Contemporary Management Issues1331-01941846-33632020-01-0125223525010.30924/mjcmi.25.2.13How important is it for family businesses to maintain a strong entrepreneurial orientation over time?Thea Visser0Louise van Scheers1University of South Africa, College of Economic and Management Sciences, Department of Business Management, Pretoria, South AfricaUniversity of South Africa, College of Economic and Management Sciences, Department of Business Management, Pretoria, South AfricaThe purpose of this article is to explore how important is the entrepreneurial orientation for family businesses. Entrepreneurial orientation is an important concept within the entrepreneurship field and it should be maintained through family generations. Proactiveness, risk-taking and innovativeness form the essence of entrepreneurial orientation, while the generational level is an influential variable, related to entrepreneurial orientation. A preliminary and conceptual study of the described problem was undertaken. Although risk-taking is essential in developing entrepreneurship and sustaining the family legacy, family businesses are risk-averse, due to concerns about reduction in family wealth. Entrepreneurial orientation may be strong at the founder stage, but it decreases as the business moves through generations. Entrepreneurial families should have an entrepreneurial orientation towards business activities, as it provides the vision to mobilise the knowledge within the family business. Strong and consistent family leadership is needed to create a climate favouring entrepreneurial orientation. Families should develop an entrepreneurial spirit and orientation that can sustain the current generation and the entire family into the future.https://hrcak.srce.hr/file/360020entrepreneurial orientationfamily businessproactivenessrisk-takinginnovativenesstransgenerational entrepreneurship |
| spellingShingle | Thea Visser Louise van Scheers How important is it for family businesses to maintain a strong entrepreneurial orientation over time? Management : Journal of Contemporary Management Issues entrepreneurial orientation family business proactiveness risk-taking innovativeness transgenerational entrepreneurship |
| title | How important is it for family businesses to maintain a strong entrepreneurial orientation over time? |
| title_full | How important is it for family businesses to maintain a strong entrepreneurial orientation over time? |
| title_fullStr | How important is it for family businesses to maintain a strong entrepreneurial orientation over time? |
| title_full_unstemmed | How important is it for family businesses to maintain a strong entrepreneurial orientation over time? |
| title_short | How important is it for family businesses to maintain a strong entrepreneurial orientation over time? |
| title_sort | how important is it for family businesses to maintain a strong entrepreneurial orientation over time |
| topic | entrepreneurial orientation family business proactiveness risk-taking innovativeness transgenerational entrepreneurship |
| url | https://hrcak.srce.hr/file/360020 |
| work_keys_str_mv | AT theavisser howimportantisitforfamilybusinessestomaintainastrongentrepreneurialorientationovertime AT louisevanscheers howimportantisitforfamilybusinessestomaintainastrongentrepreneurialorientationovertime |