Abstract
The main objective of this research was to propose a framework centred on the dynamic capabilities approach, and to be applied in the context of family businesses' adaption to their changing business environment. Data were gathered through interviews with ten FBs operating in Western Australia. Based on the findings, the clusters of activities, sensing, seizing, and transforming emerged as key factors for firms' adaptation, and were reinforced by firms' open culture, signature processes, idiosyncratic knowledge, and valuable, rare, inimitable and non-substitutable attributes. Thus, the usefulness of the proposed framework was confirmed. Implications and future research opportunities are presented.
| Original language | English |
|---|---|
| Pages (from-to) | 683-698 |
| Number of pages | 16 |
| Journal | Journal of Family and Economic Issues |
| Volume | 39 |
| Issue number | 4 |
| Publication status | Published - 1 Dec 2018 |
Bibliographical note
Publisher Copyright:© 2018, The Author(s).
Open Access - Access Right Statement
This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativeco mmons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.Keywords
- Western Australia
- adaptability (psychology)
- adaptation
- family-owned business enterprises
- organizational change