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Knowledge-Sharing Is One of the Guarantees of Success in Family Businesses
Abstract
In this chapter a summary of the role family businesses play in the economy will be presented along with one of the main issues of family businesses in Hungary that is succession. Innovation as one of the most important factors of successful family businesses and the organizational culture supporting innovation will also be analysed. Some of the most relevant findings of a research study conducted in Hungary in 2015 will be given. The most significant components of knowledge sharing in SMEs especially in family businesses have been identified. The research results are based on over 300 questionnaires. The following questions have been answered: 1) What is the most decisive factor of choosing between cooperation and competition? 2) Is it possible that family businesses are able to respond to changes and as a result are they innovative? and 3) Is the organizational culture necessary for tacit knowledge sharing present in family businesses?
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