A farewell to the business: Championing exit and continuity in entrepreneurial family firms

Entrepreneurship and Regional Development

Volumn 22, Issue 3-4, 2010, Pages 321-348

  Salvato, Carlo ^a   Chirico, Francesco ^b   Sharma, Pramodita ^c  

^a BOCCONI UNIVERSITY   (Italy)

^b UNIVERSITY OF LUGANO   (Switzerland)

^c John Molson School of Business   (Canada)

Author keywords

Business regeneration; Champions of change; Corporate entrepreneurship; Entrepreneurial exit; Entrepreneurial family firms; Entrepreneurial process; Leadership

Indexed keywords

ALTERNATIVE ENERGY; BUSINESS; CORPORATE STRATEGY; INDUSTRIAL ENTERPRISE; LEADERSHIP; RENEWABLE RESOURCE;

EID: 77954716313     PISSN: 08985626     EISSN: 14645114     Source Type: Journal    
DOI: 10.1080/08985621003726192     Document Type: Article

References (59)

1. Bongiovanni, M. 1990. Falck, 23 progetti per bilanciare l'addio alla siderurgia di Sesto. Il Sole 24 Ore, March 11: 12.
2. Brunninge, O. 2005. Organizational self-understanding and the strategy process: Strategy dynamics in Scania and Handelsbanken. JIBS Dissertation Series No. 027, Jonkoping International Business School.
3. Burgelman, R.A. 1994. Fading memories: A process study of strategic business exit in dynamic environments. Administrative Science Quarterly 39, no. 1: 24-56.
4. Chakrabarti, A.K. 1974. The role of champion in product innovation. California Management Review 17, no. 2: 58-62.
5. Chirico, F., and M. Nordqvist. 2010. Dynamic capabilities and transgenerational value creation in family firms: The role of organizational culture. International Small Business Journal 28: 1-18.
6. Chrusciel, D. 2008. What motivates the significant/strategic change champion(s)? Journal of Organizational Change Management 21, no. 2: 148-60.
7. Chua, J.H., J.J. Chrisman, and P. Sharma. 1999. Defining the family business by behavior. Entrepreneurship Theory and Practice 23, no. 4: 19-39.
8. Collins, J.C., and J.I. Porras. 1994. Built to last: Successful habits of visionary companies. New York: Harper Business.
9. Corley, K.G., and D. Gioia. 2004. Identity ambiguity and change in the wake of a corporate spin-off. Administrative Science Quarterly 49: 173-208.
10. DeTienne, D.R. 2010. Entrepreneurial exit as a critical component of the entrepreneurial process: Theoretical development. Journal of Business Venturing 25, no. 2: 203-15.
11. Dragoni, G. 1993. Ai primi passi il tentativo di ridurre le perdite dell'acciaio. Il Sole 24 Ore, June 30.
12. Drozdow, N. 1998. What is continuity? Family Business Review 11, no. 4: 337-47.
13. Duhaime, I.M., and J.H. Grant. 1984. Factors influencing divestment decision-making: Evidence from a field study. Strategic Management Journal 5, no. 4: 301-18.
14. Duhaime, I.M., and C.R. Schwenk. 1985. Conjectures on cognitive simplification in acquisition and divestment decision making. The Academy of Management Review 10, no. 2: 287-95.
15. Dyer, W.G. 1988. Culture and continuity in family firms. Family Business Review 1, no. 1: 37-50.
16. Eisenhardt, K.M., and J.A. Martin. 2000. Dynamic capabilities: What are they? Strategic Management Journal 21, nos. 10-1: 1105-21.
17. French Jr, J.R.P., and B. Raven. 1959. The bases of social power. In Studies in social power, ed. D. Cartwright, 150-67.
18. Ann Arbor, MI: Institute for social research. Ginsberg, A., and E. Abrahamson. 1991. Champions of change and strategic shifts: The role of internal and external change agents. Journal of Management Studies 28, no. 2: 173-90.
19. Gioia, D.A., and K. Chittipeddi. 1991. Sensemaking and sensegiving in strategic change initiation. Strategic Management Journal 12: 433-48.
20. Gioia, D.A., M. Schultz, and K.G. Corley. 2000. Organizational identity, image, and adaptive instability. Academy of Management Review 25: 63-81.
21. Habbershon, T.G., and J. Pistrui. 2002. Enterprising families domain: Family-influenced ownership groups in pursuit of transgenerational wealth. Family Business Review 15, no. 3: 223-37.
22. Hayward, M., and K. Shimizu. 2006. De-commitment to losing strategic action: Evidence from the divestiture of poorly performing acquisitions. Strategic Management Journal 27: 541-57.
23. Howell, J.M., and C.A. Higgins. 1990. Champions of technological innovation. Administrative Science Quarterly 35, no. 2: 317-41.
24. James, H. 2006. Family capitalism: Wendels, Daniels, Falcks, and the continental European model. Cambridge, MA: The Belknap Press of Harvard University Press.
25. Kaye, K. 1996. When the family business is a sickness. Family Business Review 9, no. 4: 347-68.
26. Kellermanns, F.W., and K. Eddleston. 2004. Feuding families: When conflict does a family firm good. Entrepreneurship Theory and Practice 28, no. 3: 209-28.
27. Kimberly, J.R., and R.H. Miles. 1980. The organizational life cycle: Issues in creation, transformation, and decline of organizations. San Francisco: Jossey-Bass.
28. Lambrecht, J., and J. Lievens. 2008. Pruning the family tree: An unexplored path to family business continuity and family harmony. Family Business Review 21, no. 4: 295-313.
29. Lincoln, Y., and E. Guba. 1985. Naturalistic inquiry. Thousand Oaks, CA: Sage.
30. Locke, K. 2001. Grounded theory in management research. London: Sage.
31. Maidique, M.A. 1980. Entrepreneurs, champions, and technological innovation. Sloan Management Review 21, no. 2: 59-76.
32. Malone, S.C. 1989. Selected correlates of business continuity planning in the family business. Family Business Review 2, no. 4: 341-53.
33. Mantere, S. 2005. Strategic practices as enablers and disablers of championing activity. Strategic Organization 3, no. 2: 157-84.
34. Markham, A.K. 1998. Longitudinal examination of how champions influence others to support their projects. Journal of Product Innovation Management 15: 490-504.
35. Mason, C.M., and R.T. Harrison. 2006. After the exit: Acquisitions, entrepreneurial recycling, and regional economic development. Regional Studies 40, no. 1: 55-73.
36. Meyer, J.P., and L. Herscovitch. 2001. Toward a general model of commitment. Human Resource Management Review 11, no. 3: 299-326.
37. Meyer, M.W., and L.G. Zucker. 1989. Permanently failing organizations. Newbury Park, CA: Sage.
38. Miles, M.B., and A.M. Huberman. 1994. Qualitative data analysis. 2nd ed. Thousand Oaks, CA: Sage.
39. Miller, D., and I. Le Breton-Miller. 2005. Managing for the long run: Lessons in competitive advantage from great family businesses. Boston, MA: Harvard Business School Press.
40. Miller, D., L. Steier, and I. Le Breton-Miller. 2003. Lost in time: Intergenerational succession, change, and failure in family business. Journal of Business Venturing 18, no. 4: 513-31.
41. Mintzberg, H., and J.A. Waters. 1982. Tracking strategy in an entrepreneurial firm. Academy of Management Journal 25, no. 3: 465-99.
42. Naldi, L., M. Nordqvist, K. Sjoberg, and J. Wiklund. 2007. Entrepreneurial orientation, risk taking, and performance in family firms. Family Business Review 20, no. 1: 33-47.
43. Nordqvist, M., and L. Melin. 2008. Strategic planning champions: Social craftspersons, artful interpreters and known strangers. Long Range Planning 41, no. 3: 326-44.
44. Rosenblatt, P. 1991. The interplay of family system and business system in family farms during economic recession. Family Business Review 4, no. 1: 45-57.
45. Salvato, C., and L. Melin. 2008. Creating value across generations in family-controlled businesses: The role of family social capital. Family Business Review 21, no. 3: 259-76.
46. Shane, S., and S. Venkataraman. 2000. The promise of entrepreneurship as a field of research. Academy of Management Review 25, no. 1: 217-26.
47. Sharma, P. 2004. An overview of the field of family business studies: Current status and directions for the future. Family Business Review 17, no. 1: 1-36.
48. Sharma, P., and P.G. Irving. 2005. Four bases of family business successor commitment: Antecedents and consequences. Entrepreneurship Theory and Practice 29, no. 1: 13-33.
49. Sharma, P., and S. Manikutty. 2005. Strategic divestments in family firms: Role of family structure and community culture. Entrepreneurship Theory and Practice 29, no. 3: 293-312.
50. Simonson, I., and B.M. Staw. 1992. De-escalation strategies: A comparison of techniques for reducing commitment to losing courses of action. Journal of Applied Psychology 77: 419-26.
51. Sirmon, D.G., and M.A. Hitt. 2003. Managing resources: Linking unique resources, management and wealth creation in family firms. Entrepreneurship Theory and Practice 27, no. 4: 339-58.
52. Staw, B.M.1981. The escalation of commitment to a course of action. Academy of Management Review 6: 577-87.
53. Tagiuri, R., and J. Davis. 1996. Bivalent attributes of the family firm. Family Business Review 9, no. 2: 199-208.
54. Tagiuri, R., and J.A. Davis. 1992. On the goals of successful family companies. Family Business Review 5, no. 1: 43-62.
55. Ulrich, D. 1997. Human resource champions: The next agenda for adding value and delivering results. Boston, MA: Harvard Business School Press.
56. Whetten, D.A. 1980. Organizational decline: A neglected topic in organization science. Academy of Management Review 5, no. 4: 577-88.
57. Wreden, N. 2002. Executive champions: Vital links between strategy and implementation. Harvard Management Update 7, no. 9: 3-6.
58. Yin, R.K. 2003. Case study research: Design and methods. 3rd ed. Thousand Oaks, CA: Sage.
59. Zellweger, T.M., and J.H. Astrachan. 2008. On the emotional value of owning a firm. Family Business Review 21, no. 4: 347-63.