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Dynamic capabilities in a sixth-generation family firm: Entrepreneurship and the Bibby Line

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Listed:
  • Oswald Jones
  • Abby Ghobadian
  • Nicholas O'Regan
  • Valerie Antcliff

Abstract

In this paper we draw on the theory of dynamic capabilities to examine development of the only surviving family-owned Liverpool shipping company. The Bibby Line was founded in 1807 to take advantage of the growing sea-trade based in Liverpool. The company remained in shipping until the mid-1960s, when a series of external crises led the owner, Derek Bibby, to begin a process of diversification. In the last 50 years, the Bibby Line has grown into a £1bn business with interests in retail, distribution and financial services as well as a continuing commitment to shipping. Our intention is to demonstrate how multigenerational ownership contributes to the creation of dynamic capabilities in family firms. The distinctive nature of Bibby as a long-standing family business is related to unique assets such as patient capital, flexible governance structures as well as the ability to mobilise social and human capital.

Suggested Citation

  • Oswald Jones & Abby Ghobadian & Nicholas O'Regan & Valerie Antcliff, 2013. "Dynamic capabilities in a sixth-generation family firm: Entrepreneurship and the Bibby Line," Business History, Taylor & Francis Journals, vol. 55(6), pages 910-941, September.
    • Handle: RePEc:taf:bushst:v:55:y:2013:i:6:p:910-941
    DOI: 10.1080/00076791.2012.744590
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    Cited by:

    1. Chwiłkowska-Kubala, Anna, 2021. "What are the sources of regional airport economic effectiveness? The dynamic capabilities perspective with evidence from Poland," Journal of Air Transport Management, Elsevier, vol. 92(C).
    2. Hafner, Cornelius & Pidun, Ulrich, 2022. "Getting family firm diversification right: A configurational perspective on product and international diversification strategies," Journal of Family Business Strategy, Elsevier, vol. 13(1).
    3. Aimilia Protogerou & Yannis D. Caloghirou & Glykeria Karagouni, 2014. "The relevance of the 'dynamic capabilities' perspective in low-tech sectors," Chapters, in: Hartmut Hirsch-Kreinsen & Isabel Schwinge (ed.), Knowledge-Intensive Entrepreneurship in Low-Tech Industries, chapter 7, pages 138-165, Edward Elgar Publishing.
    4. Gianvito Lanzolla & Alessandro Giudici, 2017. "Pioneering strategies in the digital world. Insights from the Axel Springer case," Business History, Taylor & Francis Journals, vol. 59(5), pages 744-777, July.
    5. Casprini, Elena & Dabic, Marina & Kotlar, Josip & Pucci, Tommaso, 2020. "A bibliometric analysis of family firm internationalization research: Current themes, theoretical roots, and ways forward," International Business Review, Elsevier, vol. 29(5).
    6. Glyptis, Loukas & Hadjielias, Elias & Christofi, Michael & Kvasova, Olga & Vrontis, Demetris, 2021. "Dynamic familiness capabilities and family business growth: A longitudinal perspective framed within management accounting," Journal of Business Research, Elsevier, vol. 127(C), pages 346-363.
    7. Tiberius, Victor & Stiller, Laura & Dabić, Marina, 2021. "Sustainability beyond economic prosperity: Social microfoundations of dynamic capabilities in family businesses," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    8. Cornelius Hafner, 2021. "Diversification in family firms: a systematic review of product and international diversification strategies," Review of Managerial Science, Springer, vol. 15(3), pages 529-572, April.
    9. Abel Duarte Alonso & Seng Kok & Michelle O’Shea, 2018. "Family Businesses and Adaptation: A Dynamic Capabilities Approach," Journal of Family and Economic Issues, Springer, vol. 39(4), pages 683-698, December.

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