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2020 | OriginalPaper | Buchkapitel

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

verfasst von : Francesca Maria Cesaroni, Annalisa Sentuti, Serena Cubico

Erschienen in: Entrepreneurship and Family Business Vitality

Verlag: 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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Vorheriges Kapitel Between Reason and Emotion: Socioemotional Intelligence as a Non-tangible Resource for Strategy, Operation, and Sustainability for the Family Business

Nächstes Kapitel Employees’ Change-Oriented and Proactive Behaviors in Small- and Medium-Sized Family Businesses

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Titel: Small Family Firms and Strategies Coping the Economic Crisis: The Influence of Socio-emotional Wealth
verfasst von: Francesca Maria Cesaroni
Annalisa Sentuti
Serena Cubico
Verlag: Springer International Publishing
Buch: Entrepreneurship and Family Business Vitality
Print ISBN: 978-3-030-15525-4

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

Copyright-Jahr: 2020
DOI: https://doi.org/10.1007/978-3-030-15526-1_3