Abstract
Family businesses are found to acquired non-economic goals as compared to their business counterparts. Nevertheless, small and medium-sized family businesses are found to be facing challenges such as limited inter-knowledge sharing, lack of strategic succession planning and technology adoption that might hinder their goals achievement and sustainability. Thus, this research aims to propose a framework as to preserve the socioemotional wealth of small and medium-sized family businesses through family resources and capability such as knowledge sharing, succession planning and technology readiness. This study also proposes to test the moderating role of technology readiness in the relationship of knowledge sharing and succession planning toward socioemotional wealth of small and medium-sized family business.
Highlights
This study aims to propose a framework that uitlise family-specific resources and capability to preserve the socioemotional wealth of small and medium-sized family businessess
This research proposes that knowledge sharing, succession planning and technology readiness could serve as familyspecific resources and capability to attain socioemotional wealth of small and medium-sized family businesses (SMFBs)
This research proposes that the family-specific resources such as knowldge sharing among family members will contribue to the attainment of SMFBs’ socioemotional wealth (SEW)
Summary
Preserving Socioemotional Wealth of Small and MediumSized Family Businesses: A Propose Framework. Kong Lai Kuan, Ju Soon Yew, Nurul Nadia Abd Aziz, Nor Khairunnisa Mat Yunus, Zaidatul Nadiah Abu Yazid. Received: 07 September 2021, Revised: 30 September 2021, Accepted: 16 October 2021. In-Text Citation: (Kuan et al, 2021) To Cite this Article: Kuan, K. Socioemotional Wealth of Small and Medium-Sized Family Businesses: A Propose Framework. International Journal of Academic Research in Business and Social Sciences, 11(11), 31–41. Vol 11, No 11, 2021, Pg. 31 – 41 http://hrmars.com/index.php/pages/detail/IJARBSS
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