The Palgrave Handbook of Managing Family Business Groups

Acknowledgments
Contents
Notes on Contributors
List of Figures
List of Tables
List of Boxes
1 Growing, Developing, and Performing Family Business Groups: Introduction to the Handbook
	The Origins: (Family) Business Groups?
		Innovation
		Entrepreneurship
		Management and Resource Allocation
		Family Ownership Arrangements
	The Vision and Organization of the Book
	Studies on Strategy, Entrepreneurship, & Business Transformation in FBGs
	Studies on Ownership, Governance, and Management in FBGs
	Studies on Innovation Strategies in Family Business Groups
	Studies on Identity, Values, and Sustainability in FBGs
	References
Part I Strategy, Entrepreneurship & Business Transformation
2 Ambidexterity in Family Business Groups
	Introduction
	Theoretical Background
		Organizational Ambidexterity in Family Firm Research
	The Family Business Group Ambidexterity Framework
		Tensions and Paradoxes Involved in Managing an FBG
		Business-Owning Families’ Transgenerational Intentions and Individual Drivers of OA
		Organizational-Level Drivers and FBG Ambidexterity
		Toward an Integrated Framework of OA and IA in Developing Ambidextrous FBGs
	The FBG Ambidexterity Framework in Practice: An Illustration from a Mexican Ambidextrous FBG
		Case Description
		Case Observations in Connection to the FBG Ambidexterity Framework
	Discussion and Concluding Remarks
	References
3 The Role of Internal Capital Market in Business Groups
	Introduction
	Literature Background
		The Survival to External Shocks
		The Allocation of Resources in Innovative Investments
	Discussion and Conclusions
	References
4 Exit and Resource Management in a Family Business Portfolio
	Introduction
	Theoretical Background
		Portfolio Entrepreneurship
		Business Exit
	Research Methods
		Data Collection and Analytical Strategy
	Findings
		Resource Management as a Lever for Restructuring
		Resource Management as a Lever for Creating Opportunities
		Resource Management as a Lever for Recycling
	Discussion and Contributions
		Limitations and Future Research
	Conclusion Remarks
	References
5 Corporate Strategy in Family Business Groups in Developed Economies
	Introduction
	Literature Review
		Family Business Groups (FBGs)
		Corporate Strategies of Family Business Groups
		Structure of FBG
		Diversification in FBG
			Product Diversification
			Geographic Diversification
	Methods
		Research Setting
		Sample
	Profile of FBGs
		Parent Characteristics
		FBGs Characteristics
			Size of FBGs
			Corporate Structure of FBGs
	Mapping Corporate Strategies of Family Business Groups
		FBGs and Ownership. How Do FBGs Control Their Investee Companies?
		Product Diversification
			Industrial Location of GUOs (Parent Companies) of FBGs
			Industrial Location of Investee Companies of FBGs
			Product Diversification of FBGs
			Industrial Distance
		Geographic Diversification
			Breadth of Geographic Diversification (Number of Different Countries)
			Breadth of Geographic Diversification (Number of Different Regions)
		Mixing Strategies: Product and Geographic Diversification
	Discussion and Conclusion
	References
6 Entrepreneurship in Family Business Groups in Latin America Under Organizational Ambidexterity Lens
	Introduction
	Literature Analysis
		Entrepreneurship and Family Business
		Institutional Quality in Latin America
		Family Business Groups in Latin America
		Organizational Ambidexterity
	Methodological Approach
	Case Studies
	Grupo Carso—Mexico
	Grupo Poma—El Salvador
	Motta Group—Panama
	Carvajal Group—Colombia
	Romero Group—Peru
	Gerdau—Brazil
	Jacto Group—Brazil
	Techint—Argentina
	Cencosud—Chile
	Falabella—Chile
	Fortaleza Group—Bolivia
	Analysis
	Conclusion and Future Research
	References
7 Family Business Groups in India: Perspectives on Their Roles, Strategies, and Innovations
	Introduction
	Formation of Family Business Groups: The Indian Story
		Roles of Family Business Groups
		Family Business Group Strategy
		Innovations at Family Business Groups
	Conclusion
	Notes
	References
Part II Ownership, Governance and Management
8 The Moderating Role of Governance in Promoting Transgenerational Entrepreneurship and Value Creation in Latin Family Business Groups
	Introduction
	Transgenerational Entrepreneurship in Latin American Family Business Groups
		Transgenerational Entrepreneurship
		Governance in FBG
	Method and Case Studies
	Three Models for Entrepreneurship in Family Business Groups
		Model 1. Entrepreneurship at the Subsidiary Level
		Model 2. Entrepreneurship at the Business Group Level
		Model 3. Entrepreneurship Through Separate Investment Vehicle
	Framework for the Moderating Role of Governance in Promoting Transgenerational Entrepreneurship and Value Creation
		Antecedents for Entrepreneurship
			Enterprising Family Values and Entrepreneurial Mindset
			Vision for FBG
			Economic, Political, and Social Context
		The Moderating Role of Governance
		Entrepreneurship Outcomes
	Conclusions
		Insights for Owning Families and Practitioners
		Limitations of the Study and Future Research Questions
	References
9 Ownership Strategies in Family Businesses: A Conceptual Framework
	Introduction
	Ownership Strategies: Typology and Examples
		The Target of Control
		The Unit of Analysis
		The Typology
			Quadrant 1: Ownership Strategy Targeting Single (Simple) Business
			Quadrant 2: Ownership Strategy Targeting Family
			Quadrant 3: Ownership Strategy Targeting a Complex Business
			Quadrant 4: Ownership Strategy Targeting Family Members and Complex Family
	Discussion
		The Drivers of Ownership Strategy
		Dysfunctions of Ownership Strategy
	Conclusions
	References
10 Family Business Groups in Advanced Asian Economies and the Politics of Institutional Trust
	Introduction
	Institutional Trust & Mistrust
	The Emergence of FBGs: Entrepreneurial Dynamism and Technology Assimilation
	Corporate Governance by Personal Rule in FBGs
	The Politics of Institutional Trust: Divisions Between Groups Based on Economic, Political, and Ethnic Stratification
	Political Inequality: Sources of Institutional Mistrust in China
	Korea Economic Inequality
	Malaysian Ethnic Inequality
	The Complicated Politics of Institutional Trust
	Conclusion
	References
11 Conceptualising the Governing Ownership System in a Family Business Group
	Introduction
	Literature Review
		Governing Ownership System in a Complex Family Business Group
		Elements of Governance in the Family Business Group
	Towards Conceptualising Governing Ownership
	Methodology
		The Case Study Approach
		Context
		Data Collection
		Case Description
	Discussion—Governing Ownership in a Family Business Group
	Conclusions and Suggestions for Future Research
	References
12 Informal Governance Practices in Family Business Groups: A Framework and Suggestions for Research
	Introduction
	Literature Review
		Features of Informal Governance
		The Origin of Informal Practices
		The Temporality of Informal Practices
		The Accountability of Informal Practices
	Informal Governance in FBGs
		Hidden or Open Informal Governance
		Temporary or Continuous Informal Governance
		Delegated Versus Emerged Informal Governance Practices
	Conclusions and Implications
	Avenues for Future Research
	References
13 Territoriality in Family Business Groups: The Impact of Ownership in Sharing Territories
	Introduction
	Literature
		Ownership in Business Organisations
		Ownership in Family Businesses and Family Business Groups
		Territories and Territoriality
		Territorial Behaviours of Marking and Defending
		Territories and Territoriality in Family Businesses and Family Business Groups
	Methodology
		Case Selection
		Data Collection
	Data Analysis
		Brief Description of the Cases
	Analysis
		The Effect of Different Dimensions of Ownership on Territorial Behaviour and Territory Division
		Territory Division and Territoriality in Critical Incidents
	Discussion and Conclusions
	References
Part III Innovation Strategies in Family Business Groups
14 The Temporal Evolution of Innovation Management in a Family Business Group
	Introduction
	Innovation Management in Family Business Groups
	Methodology
		The Case Study Approach
		Case Selection
		Data Collection
		Data Analysis
		Case Description
	Analysis
	Discussion and Conclusions
	References
15 Open Innovation and Family Business Groups: Anomalies Arising from the Context?
	Introduction
	Literature
		Open Innovation
		The Family Effect on Innovation
		Family Business Groups as a Context for Innovation
		Discussion and Conclusion
		Limitations and Further Research
	References
16 Innovation in Family Business Groups
	Introduction
	Family Business Groups and Innovation
	Innovation Process in Family Business Groups
	Methodology
	Cases of Innovation in Family Business Groups
		Tata Group
			Centralized Management of Innovation
			Business Level Innovation Management
		Reliance Group
			Innovation at Reliance
		Aditya Birla Group
		Mahindra Group
	Discussion
		Direction for Future Research
	Conclusion
	References
Part IV Sustainability, Identity, Values and Beyond
17 Business Groups Owned by Family and Sustainability Embeddedness: Understanding the Family Sustainability Spectrum
	Introduction
	An Introduction to Corporate Sustainability
	Corporate Sustainability Embeddedness
	Corporate Sustainability in Business Groups Owned by Family
	Sustainability Embeddedness of Business Groups Owned by Family
	Theoretical Implications
	Future Research
	References
18 Socioemotional Wealth and the Development of Family Business Group
	Introduction
	FBG and Socioemotional Wealth
	Case Studies
		Case 1: Mr. Pan FBG
		Case 2: Mr. Fan FBG
	Findings
		Socioemotional Wealth Heterogeneity
			Family Control and Influence
			Identification of Family Members with the Firm
			Binding Social Ties
			Emotional Attachment
			Renewal of Family Bonds Through Dynasty Succession
		Socioemotional Wealth and FBG Development
	Conclusions and Implications
		Conclusions
		Limitations and Future Research
	References
19 Explaining FBGs’ Influence and Actions via a Sensemaking Lens
	Introduction
	Sensemaking and Sensegiving as a Process of Reality Construction
	Illustrative Cases
		Toyoda Family Business House of Japan
		The Tata Family Business House of India
		The John Nurminen Family Business from Finland
	Discussion
	Conclusion
	References
20 Intergenerational Flourishing: Sharing Knowledge from Generation to Generation in Mexican Family Business Groups
	Introduction
	Literature Review
		Knowledge-Sharing Mechanisms in FBGs
	Methodology
	Findings—Case Description
		Knowing that Mechanisms
		Knowing How Mechanisms
		Collective Knowing
		Intergenerational Flourishing
	Conclusions and Discussion
		Knowledge Flow in an FBG
		Flourishing of Enterprising Families—A Framework of 4C’s to Attain a Sense of Purpose
			Governance and Leadership
			Family Entrepreneurship
			Intergenerational Culture
			Ownership and Legacy
	Limitations and Further Research
	References
21 Transition from Family Business to Business Family: Managing Paradoxical Tensions in Organizational Identities and Portfolio Entrepreneurship
	Introduction
	Theoretical Background
		Business Family as a Unit of Entrepreneurial Analysis
		Transition as Managing Paradoxical Tensions
		Identifying the Paradoxical Tensions
			Belonging: Shifting Organizational Identities
			Organizing: from Single Business to Portfolio of Companies
		The Transition Trigger: Raising the Paradoxical Cognition
	Methods
	Findings and Propositions
		The Business Family Cases
			Case 1. The Lee Family and Lee Kum Kee Group
			Case 2. The Tan Family and Luen Thai Group
			Case 3. The Kuvinichkul Family and Metta Group
		Shifting Organizational Identities
			Family-Business Relationships
			Diminishing Intra-Family Faultlines
		Embracing Portfolio Entrepreneurship
			Portfolio Value Creation
			Genuine Choice of Asset Sharing
		Transition Catalysts
			Strategic Foresight: Pivoting for Disruptions
			Transition Trigger
	Discussion
		Shifting Identity or Building a Portfolio First?
		Not All Will Become Business Families?
		Theoretical Contributions
		Practical Implications
		Limitations and Future Research
	Conclusion
	References
22 From Founder Identity to Family Business Group (FBG) Meta-Identity: Identity Development in the Journey from a Founder’s Firm to an Entrepreneurial Family with a Portfolio of Businesses
	Introduction
	Identity Development in Family Business Groups
		Identity and Family Business
		Founder’s Firm and Founder’s Identity
		Identity Conflicts: Collective Family-Owners Identity Versus Organizational Identity
		FBG Identity Development
	Discussion and Conclusions
	Recommendations for Further Research
	References
Part V Conclusions
23 Understanding the Dynamics of FBGs: Avenues for Further Research
	Innovation
	Entrepreneurship
	Strategy and Resources
	Identity
	Sustainability
	Ownership and Governance
	References
Index