Diversity, emotion, and decision to implement innovation in family business

Chi-Fang LIU

Abstract


Abstract. Family firms are generally small and medium-sized, characterized by ‘flat’ organizational structures and internal succession patterns and relying upon self-financing. One way to overcome inherent liability of family business is to innovate in critical management aspects and jump out to a new operational model. The capability of a firm to continuously innovate is critical for competitive advantage. It can also contribute to the development for the so-called dynamic capability. A firm’s dynamic capability describes to continuously innovate.

Keywords. Household behavior, Family economics, Family business.

JEL. D10, D13, D14.


Keywords


Household behavior; Family economics; Family business.

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References


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DOI: http://dx.doi.org/10.1453/jsas.v4i4.1522

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