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Strategic Goals and Practices of Innovative Family Businesses

Author

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  • Joseph E. Mccann
  • Anna Y. Leon‐guerrero
  • Jonathan D. Haley

Abstract

A profile of 231 Washington state family businesses is presented. This article focuses on the business strategies of these firms, analyzing the relationship between strategy, performance, and business practices. Firms categorized as Prospector firms reported more gains in their current market position than all other strategic types. These firms were more likely to value an effective management and employee team and to develop new quality products and services and career development plans for non‐family employees. Implications for family businesses are discussed.

Suggested Citation

  • Joseph E. Mccann & Anna Y. Leon‐guerrero & Jonathan D. Haley, 2001. "Strategic Goals and Practices of Innovative Family Businesses," Journal of Small Business Management, Taylor & Francis Journals, vol. 39(1), pages 50-59, January.
    • Handle: RePEc:taf:ujbmxx:v:39:y:2001:i:1:p:50-59
    DOI: 10.1111/0447-2778.00005
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    Cited by:

    1. Kosmidou, Vasiliki & Holt, Daniel T., 2022. "The relationship between family management and performance: A configurational approach in exploring the role of socioemotional wealth and generational stage," Journal of Family Business Strategy, Elsevier, vol. 13(4).
    2. Fuentes-Lombardo, Guadalupe & Sanchez-Famoso, Valeriano & Cano-Rubio, Myriam, 2023. "Reasons for internationalisation of family business," Journal of Family Business Strategy, Elsevier, vol. 14(4).

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