Professionalization and Managerialization In Family Firms: A Paradox Perspective

Abstract

So long, literature considers Professionalization and Managerialization in family firms as transitions from entrepreneurial management to professional management and informal systems to formal systems. Professionalization and managerialization as transitions imply that entrepreneurial management, professional management, informal systems, and formal systems may replace each other. This paper aims to challenge this perspective, approaching the topic through a paradox perspective to underline the tensions of professionalization and managerialization in family firms and support the simultaneous existence of entrepreneurial management, professional management, informal systems, and formal systems. Consequently, we propose a conceptual framework to define different family firms' patterns relying on their different degrees of professionalization and managerialization and supporting both practice and theory in the future.