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Small Business Economics

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01.10.2016

Management processes and strategy execution in family firms: from “what” to “how”

verfasst von: James J. Chrisman, Jess H. Chua, Alfredo De Massis, Tommaso Minola, Silvio Vismara

Erschienen in: Small Business Economics | Ausgabe 3/2016

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Abstract

The distinctiveness of family firms’ goals, structures, resources, strategies, and performance has been studied in terms of what family firms do or are able to achieve that are different from those of nonfamily firms. This dominant approach to studying family firm behavior has contributed significantly to our understanding of such organizations. Currently, however, we know little about how family firm decisions are made and the processes by which family firms plan and execute. We develop a conceptual framework and set out an agenda for future research on how the distinctive/unique interaction between the business and the family influences the management processes by which family firms implement their strategies.

Vorheriger Artikel Entrepreneurial practices in research-intensive and teaching-led universities

Nächster Artikel CEO leadership and board decision processes in family-controlled firms: comparing family and non-family CEOs

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The family business literature uses three different adjectives (distinctive, idiosyncratic, and particularistic) to describe the differences between family and nonfamily motivations, behavior, resources, and performance. We use them interchangeably here although we realize that they are not strictly equivalent.

De Massis et al. (2014a, b) present a comprehensive review of correlates and measures of both ability and willingness constructs.

It is worth noting that, as illustrated in Fig. 1, we have assumed a hierarchy among goals, governance and resources. Consistent with the strategic management perspective, we assume that goals are the guiding factor of governance, and goals and governance in turn set the conditions for the use of resources.

We use the term “strategy execution” here instead of the more commonly used “strategy implementation” to emphasize that this is about how because the latter tends to be applied in a sense that is most frequently about what are or need to be done and only occasionally about how.

Conceptually, both ability and willingness influence all three drivers. Partly for emphasis and partly to avoid cluttering the figure, we chose to focus on the most important influences.

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Titel: Management processes and strategy execution in family firms: from “what” to “how”
verfasst von: James J. Chrisman
Jess H. Chua
Alfredo De Massis
Tommaso Minola
Silvio Vismara
Publikationsdatum: 01.10.2016
Verlag: Springer US
Erschienen in: Small Business Economics / Ausgabe 3/2016
Print ISSN: 0921-898X
Elektronische ISSN: 1573-0913
DOI: https://doi.org/10.1007/s11187-016-9772-3

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