Transgenerational Entrepreneurship

Introducing a new concept in family businesses Transgenerational Entrepreneurship addresses how these businesses achieve growth and longevity through entrepreneurial activities. It focuses on the resources, capabilities and mindsets that families develop and draw upon in order to be entrepreneurial across generations, and presents findings from an international research collaboration between family business researchers and practitioners. In addition to a comprehensive conceptual chapter, the editors include a unique set of empirical case-based research papers that investigates transgenerational entrepreneurship in different European contexts. They bring together and integrate frontier research on entrepreneurship and family business, as well as provide a basis for future research. Academics, teachers and students in business and management, entrepreneurship and family business will find this path-breaking book of value, as will libraries, policy makers and consultants.

Collectively, the authors present an informative overview of some of the best European research in entrepreneurship that exists at present. In addition, the variation in research traditions and approaches offer the reader an interesting insight into the various disciplinary perspectives that can shed light on entrepreneurial activities, including insights from psychology, sociology, finance and strategy. The attempt to examine both individual and firm-level analysis is also a strength of this book, given that the majority of entrepreneurship research tends to focus on just one of these streams and there is a dearth of work that is able to integrate and understand both dimensions simultaneously. . . the book provides value for money for those whom entrepreneurship research within a European context is a particular interest. Jean Clarke, International Journal of Entrepreneurial Behaviour and Research This book brings together some of Europe s finest scholars, showcasing the richness, diversity and quality of European entrepreneurship research. Collectively, the authors present an authoritative overview of state-of-the-art research on current entrepreneurship themes. This book is a must read for scholars, policymakers, and students interested in staying updated about the current state of entrepreneurship research. Johan Wiklund, Syracuse University, US The 20th edition of the RENT conference took place where it started 20 years ago: in the European capital , Brussels. The current volume presents the best papers of this conference and offers a grand view of the state of the art of European entrepreneurship research. Drivers as well as consequences are dealt with from many different angles. Taken together it gives a thorough description of the scarcest and most essential of all input factors of the modern economy: entrepreneurship. Roy Thurik, Erasmus University Rotterdam, The Netherlands This book provides an invaluable, state-of-the-art overview of current European research in the field of entrepreneurship. It focuses on four themes, each of which illustrates a key dimension in the overall theme: entrepreneurs and their role in entrepreneurship entrepreneurship in family businesses performance of new ventures and entrepreneurial processes. Entrepreneurship, Sustainable Growth and Performance is written from various perspectives by eminent academics with different methodological approaches. It is an invaluable resource for researchers, scholars and students as well as consultants and policymakers with an interest in entrepreneurship and small businesses.

Transgenerational entrepreneurship, as a discipline, examines the processes, resources and capabilities that allow family enterprises to create social and economic value over time in order to succeed beyond the first generation of business owners. While tangible resources such as financial and physical capital are certainly important factors in the long-term success of a family-run business, this book focuses specifically on the role of intangible resources and capabilities, which are less easily quantifiable but equally vital.

This publication provides a pedagogical guidance for family business owners to understand the True Meaning of Family Business and How to lead their family and firm towards an Infinite Journey of Longevity. As incumbents, they should not merely transfer ownership and inheritance to their successors, but more importantly Transgenerational Entrepreneurship potential in their succession process. It all begins with nurturing the next generations to produce transgenerational entrepreneurship value. The essential elements for transgenerational entrepreneurship are addressed and discussed in this book, with evidences from a number of experts and cases. Why do some incumbents succeed in nurturing their successors towards transgenerational entrepreneurship? And why do some fail? The rational perspectives and emotional aspects of the incumbents (parent) and the successors (child) are illuminated in this book to bring enlightenment for both generations that are struggling to connect and engage with each other to plan and establish a deep-rooted succession bridge.

This illustrative book considers the interface of business structures, contexts, and leadership building blocks to explore the contingent nature of leadership development in transgenerational entrepreneurship. Longitudinal case studies of 27 family firms in nine different countries provide a rich, global selection of leadership development insights by examining the roles of values, professionalization, leadership style and other contingent factors. The diversity of cases and chapters provides a rich foundation for insight into the pathways currently in use to develop the next generation leaders, illuminating the strategies and pathways of successful transgenerational family enterprises. By examining the available literature and one or more case studies, each chapter draws pragmatic conclusions, with findings that suggest the importance of focusing on leadership as a shared capability, transmission of values to maintain an entrepreneurial culture, the fit between professionalization and values to increase transgenerational potential, the need to address the structure of the business and the focus on parenting to develop next generations. This path-breaking book will inform family business researchers as they explore the ways in use to develop the next generation. Each chapter starts with a mini-case study focused on a dilemma related to leader development, making this book an excellent resource for educators in undergraduate, graduate, or executive programs.

This book analyzes the findings reported in the first Asia Pacific summit of the Successful Transgenerational Entrepreneurship Practices (STEP) project. Researchers in Australia, China, and India discussed eleven in-depth case studies to shed light on the challenges that business families and family businesses faced in continuing and extending their entrepreneurial capabilities across multiple generations. Based on a common research framework from STEP, each chapter introduces key findings and challenges existing theory, offering answers to two broad questions in the Asia Pacific context: How do business families and family businesses generate and sustain entrepreneurial performance across generations and how does entrepreneurial performance relate to the continuity, growth and transgenerational entrepreneurship of business families and family businesses? In doing so, the authors look at key issues faced by family business including dealing with communication issues across generations, resolving conflict between siblings, preparing and luring younger generations back to family business, and professionalization of business. The chapters go beyond the succession and governance challenges and explore the processes and outcomes of entrepreneurship in the AustralAsian family context. Academics, teachers and students in business and management, entrepreneurship and family business, and Asian studies will find this path-breaking book of great value, as will libraries, policymakers and consultants.

Publikasi ini memberikan panduan pedagogis bagi pemilik bisnis keluarga untuk memahami arti sejati bisnis keluarga dan bagaimana memimpin keluarga serta perusahaan mereka menuju kelanggengan perjalanan tanpa batas. Sebagai pemegang jabatan, mereka seharusnya tidak hanya mengalihkan kepemilikan dan warisan kepada penerusnya, tetapi yang lebih penting adalah potensi kewirausahaan antargenerasi dalam proses suksesi mereka. Semuanya dimulai dengan membina generasi penerus untuk menghasilkan nilai kewirausahaan antargenerasi. Elemen penting untuk kewirausahaan antargenerasi ditujukan dan dibahas dalam buku ini, dengan bukti dari sejumlah ahli serta kasus. Mengapa beberapa pemegang jabatan berhasil mengasuh penerusnya menuju kewirausahaan Dan mengapa beberapa gagal? Perspektif rasional dan aspek emosional dari antargenerasi? pemegang jabatan (orang tua) serta penerus (anak) dijelaskan dalam buku ini untuk membawa pencerahan bagi kedua generasi yang sedang berjuang untuk terhubung, dan terlibat satu sama lain untuk merencanakan serta membangun jembatan suksesi yang mendalam. || This publication provides pedagogical guidance for family business owners to understand the true meaning of family business and how to lead their family and firm towards an infinite journey of longevity. As incumbents, they should not merely transfer ownership and inheritance to their successors, but more importantly transgenera- tional entrepreneurship potential in their succession process. It all begins with nurturing the next generations to produce transgenerational entrepreneurship value. The essential elements of transgenerational entrepreneurship are addressed and discussed in this book, with evidence froma number of experts and cases. Why do some incumbents succeed in nurturing their successors towards transgenerational entrepreneurship? And why do some fail? The rational perspectives and emotional aspects of the incumbents (parent) and the successors (child) are illuminated in this book to bring enlighten- ment for both generations that are struggling to connect, and engage with each other to plan and establish a deep-rooted succession bridge.

This book critically examines the evolution of marketing scholarship over generations from Marketing 1.0 to 4.0. It argues that most firms look to gain competitive advantage in the marketplace by driving tactical moves, inculcating small cost-effective changes in marketing approaches. Often, strategic choices of companies lean towards developing competitive differentiations that enable consumers to realize the value of money, causing loyalty shifts in the competitive marketplace. The book focuses on the consumer as the pivot of marketing and argues that the consumer serves as a bidirectional channel during pre-and post-purchase period. It explains how consumer affections sentimentally and emotionally help in growing the brands and companies over generations. This book significantly contributes to the existing literature and serves as a learning post and a think tank for students, researchers, and business managers.