Resource Orchestration for Competitive Advantage In Family Firms: Leveraging Financial And Non-Financial Resources

Editors

• R. Duane Ireland, Texas A&M University
• Francesco Chirico, Macquarie University
• Melissa E. Graebner, University of Illinois
• Luis R. Gómez-Mejía, Arizona State University
• Daniel Pittino, Jonkoping University

Description

Family firms differ from non-family firms in their resource portfolios and resource orchestration processes, particularly regarding how they integrate financial and non-financial resources. Resource orchestration comprises three interconnected processes—structuring, bundling, and leveraging—that enable firms to build and deploy capabilities for competitive advantage. Family firms face unique challenges because family members often incorporate both financial and non-financial utilities into strategic decisions, with socioemotional wealth playing a central role in preserving family control, emotional attachment, social ties, and intergenerational continuity.

Extrait. Lire l'appel complet sur le site de l'éditeur.

Potential topics

• How family firms accumulate, acquire, and divest socioemotional resources across generations
• How financial resources facilitate or constrain the structuring of non-financial resources in family firms
• Mechanisms for balancing socioemotional wealth with financial growth imperatives in resource structuring
• Resource structuring differences between family-based start-ups and established family firms
• How family firms combine financial and non-financial resources to create unique capabilities like innovation and resilience
• Differences in bundling processes (stabilization, enrichment, pioneering) for capability development in family firms
• How emotional attachment and identity shape family firms' ability to adapt capabilities in dynamic markets
• How family-based founders can develop skills for effective resource bundling
• How family firms deploy non-financial resources to create value
• Influence of socioemotional wealth on family firms' interactions with non-family stakeholders (employees, investors, regulators)
• Role of socioemotional wealth in navigating financial crises and external shocks
• How long-term orientation helps family firms manage risks associated with disruptive innovation
• Roles of entrepreneurial passion and legacy preservation in family firms' leveraging choices
• Advantages and disadvantages of founders and founding team members in the leveraging process
• How family firms should engage in simultaneous opportunity- and advantage-seeking behaviors in strategic entrepreneurship
• Governance structures that support family firms' use of strategic entrepreneurship
• Balance between opportunity-seeking and advantage-seeking behaviors in family firms
• Whether non-financial logic and socioemotional wealth function as strategic resources for strategic entrepreneurship
• Role of legacy in family firms' engagement with strategic entrepreneurship
• Stakeholder enrollment's role in family firms' resource acquisition for strategic entrepreneurship
• Implications of succession and ownership transfers on family firms' strategic entrepreneurship
• Structures supporting founders' and founding teams' decisions to use strategic entrepreneurship for family-based start-ups
• Optimal combinations of identity, justice, and nepotism dimensions for maximizing resource orchestration and strategic entrepreneurship value
• How different governance structures shape family firms' resource structuring, bundling, and leveraging decisions
• Conditions under which dual focus on financial and non-financial objectives results in path dependency versus sustainable innovation
• How socioemotional wealth helps build legitimacy in heterogeneous family firms
• Implications of digitalization and artificial intelligence for orchestrating financial and non-financial resources
• Whether founders can rely on AI for launching family-based start-ups
• Challenges family firms face in integrating AI-driven efficiency with non-financial-driven resource orchestration
• Role of AI in fostering or disrupting intergenerational continuity
• How family firms balance AI objectivity with subjectivity inherent in socioemotional wealth-based decision-making
• How family firms can leverage digitalization and AI to preserve and enhance socioemotional wealth resources and authenticity
• Risks that digitalization poses to socioemotional wealth

Associate editors