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Strategic Behavior in Family Firms: A Theoretical Insight Into Dynamic Familiness

Strategic Behavior in Family Firms: A Theoretical Insight Into Dynamic Familiness
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Author(s): Ismael Barros (Universidad Austral de Chile, Chile), Juan Hernangómez (Universidad de Valladolid, Spain) and Natalia Martín Cruz (Universidad de Valladolid, Spain)
Copyright: 2022
Pages: 23
Source title: Research Anthology on Strategies for Maintaining Successful Family Firms
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-6684-3550-2.ch045

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Abstract

Previous research emphasizes that the participation of the family in business operations is the source of resources and capabilities that conditions the strategic behavior of the family firm. This influence has been recognized as “familiness.” However, this definition is contextualized from static reasoning that ignores the effect of family dynamics on the behavior and value generation of the family-owned business. Prior literature has recognized that the family influence has a dynamic character based on the idiosyncratic process of knowledge management that manifests itself in the company, dynamic familiness. This family capability is shaped by family organizational routines through the family influence and aims to increase its knowledge portfolios for the strategic use of its resources. This chapter addresses the relationship between family influence and the process of learning and knowledge management. The analysis of this relationship allows assessing how family influence can promote the generation of family organizational routines based on knowledge management processes.

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