Owner orientations and strategies and their impact on family business

Abstract

Family firms seem to be different from non-family firms. They might be less entrepreneurial and more family-oriented or have an own family-specific strategy. The question in this context is why we can observe this phenomenon. In this explorative study, we explain that the individual orientation of previous, current and future owners of a family business might be the key to those differences. To find evidence for this assumption, we researched six family businesses and all family members involved. The 16 interviews show that the owners as individuals and their orientations drive the differentiated strategy and orientation of family businesses.