A Psychodynamic Perspective on How Family Businesses Can Approach Brand Change to Build Legacy

Abstract

With the increasing speed of change and disruption that is taking place, this paper presents findings and views on the increasing importance of brand change for family businesses seeking to build legacy. Whilst change and family business have attracted broad based research interest, past studies are however limited and overly focused on “Outside” brand change. Through Interpretive Phenomenological Analysis (IPA) in-depth interviews, this paper uncovers both the conscious and unconscious brand change elements and redefines brand change in layers of “Outside” and “Inside” change - through analysing the differing approaches family businesses have taken on their brand change journeys. By adding the lens of the Psychodynamic Approach in the field of brand change in family business, this paper aims to provide better insight as to where a family business is in relation to its brand change journey and an understanding of how to navigate the varying degrees of “Outside” and “Inside” change to deliver transformational brand change to build family business legacy.