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Knowledge, Renewal and Flexibility: Exploratory Research in Family Firms

Department of Business Administration, Universidad de Cantabria, 39005 Santander, Spain
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Adm. Sci. 2019, 9(4), 87; https://doi.org/10.3390/admsci9040087
Received: 18 September 2019 / Revised: 25 October 2019 / Accepted: 7 November 2019 / Published: 11 November 2019
(This article belongs to the Special Issue Entrepreneurship in Family Business)
This study aims to explore how family firms pursue strategies that promote strategic flexibility and knowledge-management (KM) practices to respond to strategic-renewal goals. Specifically, based on a knowledge-based view of the firm, the following research question is proposed: Are there heterogeneous groups of family firms in terms of knowledge management, strategic flexibility and strategic renewal goals? To answer this question, an exploratory study using a two-step cluster analysis is developed. It reveals natural groupings from a sample of 288 small and medium-sized Spanish family enterprises (SMEs). The results obtained identified three distinctive clusters of family firms, namely proactive family firms, transitional or adaptive family firms, and rigid family firms. After two-step cluster analysis, we also conducted analysis of variance (ANOVA) to confirm that significant differences amongst the three clusters exist. After heterogeneity been confirmed, a further profile of the cluster solution was provided by using CEO and board characteristics, as well as the generational stage of the company. The findings offer some counterbalance for those studies that tend to study family businesses as a homogeneous entity, thus permitting researchers to access more information, providing rich explanations for renewal managerial decision-making purposes in family firm contexts. View Full-Text
Keywords: entrepreneurship; family firm; knowledge; flexibility; strategic renewal entrepreneurship; family firm; knowledge; flexibility; strategic renewal
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MDPI and ACS Style

Pérez-Pérez, M.; López-Férnandez, M.C.; Obeso, M. Knowledge, Renewal and Flexibility: Exploratory Research in Family Firms. Adm. Sci. 2019, 9, 87. https://doi.org/10.3390/admsci9040087

AMA Style

Pérez-Pérez M, López-Férnandez MC, Obeso M. Knowledge, Renewal and Flexibility: Exploratory Research in Family Firms. Administrative Sciences. 2019; 9(4):87. https://doi.org/10.3390/admsci9040087

Chicago/Turabian Style

Pérez-Pérez, Marta; López-Férnandez, María C.; Obeso, María. 2019. "Knowledge, Renewal and Flexibility: Exploratory Research in Family Firms" Adm. Sci. 9, no. 4: 87. https://doi.org/10.3390/admsci9040087

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