Family Entrepreneurship: Insights from Leading Experts on Successful Multi-Generational Entrepreneurial Families

by Matt R. Allen (Editor), William B. Gartner (Editor)

Overview

This book provides recent ideas, insights, facts, evidence, frameworks, and perspectives on how and why entrepreneurial families are successful over generations. The book focuses on how families successfully implement entrepreneurship across generations. That success, it argues, requires entrepreneurship at the level of the family, not only in the businesses the family owns and manages. Written by noted academics and consultants who are authorities on family entrepreneurship, the chapters provide a comprehensive exploration of the characteristics of successful entrepreneurial families, their motivations, how they behave over time, and, suggestions for how business families can encourage and sustain entrepreneurship. This comprehensive look at family entrepreneurship will serve as a fundamental reference text for family business consultants, owners, and scholars.

Product Details

ISBN-13:	9783030668464
Publisher:	Palgrave Macmillan
Publication date:	04/05/2021
Sold by:	Barnes & Noble
Format:	eBook
File size:	5 MB

About the Author

Matt R. Allen is Associate Professor in the Entrepreneurship Division, and family fellow in the Institute for Family Entrepreneurship at Babson College. His expertise is in the effective management of human capital within entrepreneurial environments, especially family enterprises. His current research is focused on the role of the family in the entrepreneurial process and how to build entrepreneurialcapability across generations. Matt designed and is leading the Family Entrepreneurship Amplifier program, a one-of-a-kind education program for business families that engages students and their families in the learning process in order to build entrepreneurial capability. 

William B. Gartner is the Bertarelli Foundation Distinguished Professor of Family Entrepreneurship at Babson College. He is recognized as a leading scholar in the field of entrepreneurship by such awards as: the 2005 Swedish Entrepreneurship Foundation International Award for outstanding contributions to entrepreneurship and small business research; the 2013 Academy of Management Entrepreneurship Division Foundational Paper Award; and the 2016 Academy of Management Entrepreneurship Division Dedication to Entrepreneurship Award. His scholarship spans a wide array of topics in the entrepreneurship field: entrepreneurship as practice, the social construction of the future, varieties of value creation and appropriation, translating entrepreneurship across cultures and countries, the poetics of exchange, the demographics of entrepreneurial families, and, the nature of legacy in family entrepreneurship.

Table of Contents

1. The Secrets of Successful Entrepreneurial Families: Insights from the World’s Experts on Multi-Generational Entrepreneurial Families.- Part 1: Characteristics of the Entrepreneurial Family.- 2. Family Capital: The Key to Entrepreneurial and Family Success.- 3: The Essential Role of Trust in Family Business Entrepreneurship.- 4:  Managing Legacy, Achievement and Identity in Entrepreneurial Families.- 5: Discerning the Importance and Nature of the Family System in Relation to the Family Firm: A Paradigm Shift.- Part 2: Preparing the New Generation of Family Entrepreneurs.- 6: Can entrepreneurship be continued from one generation to the next? The answer to that question can be found in the socialization process.- 7: Tilling the Soil — and Wait and See how the Next Generation Develops.- Part 3: Developing Entrepreneurial Leaders.- 8: Sustaining a Multi-Generational Family Enterprise Through Ambidextrous Leadership.- 9: The Importance of Externally Focused Self-awareness to Family Entrepreneurship.- Part 4: Advancing Family Entrepreneurship.- 10: Antecedents to Entrepreneurship: How successful business families nurture agency and kindle the dreams of the next generation.- 11: Who do you think you are? Who do they think you are? The golden cage and the silver spoon.- 12: From family businesses to entrepreneurial families: Tacit knowledge at the core of entrepreneurial learning.- 13: The successor conundrum: A moral dilemma.- 14: Family Entrepreneurship Education: Where are we? Where do we need to go from here?.- Part 5: Establishing the Entrepreneurial Family.- 15: Intrapreneurship: A new lens on developing capability in the rising generation.- 16: Gathering multiple generations at the dining room - The secret towards an entrepreneurial family continuity.- 17: Two sides of the same coin – How intra-family communication affects entrepreneurial spirit over generations in family businesses.- 18: The Family Business University: How to Live, Create and Tell your FamilyBusiness Story. Part 6: Fostering Family Entrepreneurs.-19: Nurturing the Next Generation Family Entrepreneurs in the Business Family.- 20: Upping Your Family’s Entrepreneurial Game.- Part 7: The Future of Family Entrepreneurship.- 21: Fostering Entrepreneurialism and Intrapreneurialism within the Family Enterprise System.- 22: From Allocators to Acquirers: The Family Investing Model and Transgenerational Entrepreneurship.- 23: Because family cares – building engagement for entrepreneurship through sustainability.- 24: Social capital, entrepreneurship and family businesses.

What People are Saying About This

From the Publisher

“Recent environmental shocks, be they COVID-19, Brexit, or the Global Financial Crisis, have stress-tested our family firms like never before. Our boundaries of understanding have changed, as has the world in which we live. Never has the need to embrace entrepreneurship been so pertinent to firm survival. If the family is the oxygen that feeds the fire of entrepreneurship, the question for today’s family firm leaders is how to keep the fire burning. In ‘Family Entrepreneurship’, Allen and Gartner share the secrets of successful entrepreneurial families including how to nurture trust between generations, manage legacy expectations, and embrace sustainability in the face of climate change. By engaging with international experts on multi-generational entrepreneurial families, this book provides family firm leaders with the toolkit to manage business continuity and keep the entrepreneurial fire burning.”

Eric Clinton, PhD, Director, Dublin City University National Centre for Family Business

“It provides a wide range of perspectives on how and why families can engage in entrepreneurship across generations. The book provides a variety of frameworks and action plans for families who realize that their businesses need to change and grow in order to sustain themselves in the future. To sum up, it is a ‘smorgasbord’ with a tasteful variety of dishes.”

Magnus Aronsson, Managing Director, ESBRI – Entrepreneurship and Small Business Research Institute, Sweden.

“Since the Asian Finance crisis where I first experienced the perseverance of family businesses in Asia, more and more global crises have occurred. Family businesses and business families seldom let crisis go wasted and use every chance to renew themselves. This book tells us why, as it unveils the hidden treasury of family businesses – family entrepreneurship. It is a must-read for practitioners, researchers, and professionals working with family businesses or business families.”

Kevin Au, PhD, Director, Centre for Family Business, Chinese University of Hong Kong

“This is a wonderful book. It broadens our knowledge on what makes family entrepreneurship so successful across many generations, by focusing on the soft success factors. The editors have pulled together a great group of scholars, each discussing different (and sometimes surprising) facets of family entrepreneurship. A welcome addition to the entrepreneurship and family business literature, and of value for researchers and policymakers alike.”

Friederike Welter, Institut für Mittelstandsforschung Bonn and University of Siegen

This book brings together consultants, educators, and researchers on family entrepreneurship with the aim to learn from the secrets of successful entrepreneurial families across the world. By looking at family entrepreneurship as a behavior, belief, or value this edited volume covers a wide range oftopics and touches on the many ways that entrepreneurship can be developed and sustained in multi-generational families. The variety of approaches that could be used by business families to let entrepreneurship and entrepreneurial spirit flourish across generations are integrated with different theories and ideas without never neglecting the relevance for practice.

Andrea Calabrò, Professor of Family Business & Entrepreneurship, IPAG Business School, Global Academic Director STEP Project Global Consortium