Determinants and dynamics of family entrepreneurship: a bibliographic analysis

Authors

  • Diana Carolina Moreta Hurtado Universidad Estatal de Bolívar https://orcid.org/0009-0000-7026-4931
  • Carmita Galuth Borja Borja Universidad Estatal de Bolívar

DOI:

https://doi.org/10.59282/reincisol.V3(6)3972-3995

Keywords:

Family entrepreneurship; sustainability; generational transitions; business management; innovation.

Abstract

Family entrepreneurship, a predominant form of business organization, combines business management with family values and norms, affecting both business development and other types of entrepreneurship. “Familiarity” within this model can offer strategic advantages or present significant challenges. This study is important because it provides a comprehensive view of how family dynamics influence the success and sustainability of family businesses globally. It examines the determinants and dynamics of family entrepreneurship, with the objective of identifying the key factors that influence the sustainability and success of these enterprises. Through a qualitative methodology based on a bibliographic analysis, family norms and values are explored, as well as generational transitions and the dispersion of family control. The results highlight that family businesses face significant challenges, such as nepotism, intergenerational conflicts and lack of professionalization, but also demonstrate remarkable resilience and long-term orientation. The research concludes that the combination of professionalized management, integration of new technologies and adequate preparation of future generations are essential to ensure the continuity and competitiveness of family businesses in a changing economic environment.

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References

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Published

2024-10-29

How to Cite

Moreta Hurtado , D. C. ., & Borja Borja , C. G. . (2024). Determinants and dynamics of family entrepreneurship: a bibliographic analysis. REINCISOL, 3(6), 3972–3995. https://doi.org/10.59282/reincisol.V3(6)3972-3995
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