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A Systems Perspective for Conceptualizing Sustainability in Long‐lived Family Businesses. Research Proposals on Risk Taking and Innovativeness

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  • Agostino Vollero
  • Alfonso Siano
  • Maddalena Della Volpe

Abstract

Sustainability has been interpreted in family business research as the outcome of typical organizational dynamics, such as a moderate aversion to risk and a lack of intent to innovate. Drawing on the systems theory, this study identifies the key drivers for a broader conceptualization of sustainability for family businesses, based on the interplay of three interacting systems. A multiple case study research design involving companies belonging to Les Henokiens (an association of bicentenary family businesses) has been conducted in this systemic conceptualization. Unlike the assumptions presented in other research, our proposals suggest that fluctuating levels of risk taking and propensity to innovate may be a management response that occurs when the equilibrium of these interacting systems is in danger. This study's contribution is that it validates the systems theory as the leading theoretical perspective in family business research, which may help overcome ‘management paradoxes’ resulting from the overlap of conflicting systems. © 2018 John Wiley & Sons, Ltd.

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  • Agostino Vollero & Alfonso Siano & Maddalena Della Volpe, 2019. "A Systems Perspective for Conceptualizing Sustainability in Long‐lived Family Businesses. Research Proposals on Risk Taking and Innovativeness," Systems Research and Behavioral Science, Wiley Blackwell, vol. 36(1), pages 111-127, February.
    • Handle: RePEc:bla:srbeha:v:36:y:2019:i:1:p:111-127
    DOI: 10.1002/sres.2548
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    1. Alba Rocio Gutierrez Garzon & Pete Bettinger & Jacek Siry & Bin Mei & Jesse Abrams, 2019. "The Terms Foresters and Planners in the United States Use to Infer Sustainability in Forest Management Plans: A Survey Analysis," Sustainability, MDPI, vol. 12(1), pages 1-20, December.
    2. Orlando Llanos-Contreras & Jose Arias & Carlos Maquieira, 2021. "Risk taking behavior in Chilean listed family firms: a socioemotional wealth approach," International Entrepreneurship and Management Journal, Springer, vol. 17(1), pages 165-184, March.
    3. Anne Jensen & Helle Ørsted Nielsen & Duncan Russel, 2020. "Climate Policy in a Fragmented World—Transformative Governance Interactions at Multiple Levels," Sustainability, MDPI, vol. 12(23), pages 1-8, November.
    4. Małgorzata Okręglicka & Prabhat Mittal & Valentinas Navickas, 2023. "Exploring the Mechanisms Linking Perceived Organizational Support, Autonomy, Risk Taking, Competitive Aggressiveness and Corporate Sustainability: The Mediating Role of Innovativeness," Sustainability, MDPI, vol. 15(7), pages 1-23, March.
    5. Cristina Bettinelli & Marco Mismetti & Alfredo De Massis & Barbara Del Bosco, 2022. "A Review of Conflict and Cohesion in Social Relationships in Family Firms," Entrepreneurship Theory and Practice, , vol. 46(3), pages 539-577, May.
    6. Giorgia Nigri & Riccardo Di Stefano, 2021. "Family Business in Italy: a Humanistic Transition of Assets and Values from One Generation to the Next," Humanistic Management Journal, Springer, vol. 6(1), pages 57-76, April.

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