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Introduction to Entrepreneurship and Family Business Vitality Read chapter Read first chapter

2020 | OriginalPaper | Chapter

Small Family Firms and Strategies Coping the Economic Crisis: The Influence of Socio-emotional Wealth

Authors : Francesca Maria Cesaroni, Annalisa Sentuti, Serena Cubico

Published in: Entrepreneurship and Family Business Vitality

Publisher: Springer International Publishing

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Abstract

In this chapter, the socio-emotional wealth perspective is used to understand how, during phases of economic recession, a company’s family nature can influence its decision-making processes and the implementation of an ambidextrous strategy, as well as its effectiveness. A qualitative analysis based on a case study is presented in this chapter. The analyzed case involves an Italian family-owned small business that faced the recent economic crisis adopting a mix of defensive and offensive strategies. Thanks to this balanced—ambidextrous—strategy, the company was able to limit the impact of the crisis and then to recover positive profit margins. This study contributes to the extant literature by shedding light on how the aim of preserving the socio-emotional wealth can influence small family firms’ ability to adopt ambidextrous strategies in order to face an economic recession.

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previous chapter Between Reason and Emotion: Socioemotional Intelligence as a Non-tangible Resource for Strategy, Operation, and Sustainability for the Family Business
next chapter Employees’ Change-Oriented and Proactive Behaviors in Small- and Medium-Sized Family Businesses
Footnotes
1
For privacy reasons we use a fantasy name.
 
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Metadata
Title
Small Family Firms and Strategies Coping the Economic Crisis: The Influence of Socio-emotional Wealth
Authors
Francesca Maria Cesaroni
Annalisa Sentuti
Serena Cubico
Copyright Year
2020
Publisher
Springer International Publishing
Book
Entrepreneurship and Family Business Vitality

Print ISBN: 978-3-030-15525-4

Electronic ISBN: 978-3-030-15526-1

Copyright Year: 2020

DOI
https://doi.org/10.1007/978-3-030-15526-1_3