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Small Family Firms and Strategies Coping the Economic Crisis: The Influence of Socio-emotional Wealth

In: Entrepreneurship and Family Business Vitality

Author

Listed:
  • Francesca Maria Cesaroni

    (University of Urbino Carlo Bo)

  • Annalisa Sentuti

    (University of Urbino Carlo Bo)

  • Serena Cubico

    (University of Verona)

Abstract

In this chapter, the socio-emotional wealth perspective is used to understand how, during phases of economic recession, a company’s family nature can influence its decision-making processes and the implementation of an ambidextrous strategy, as well as its effectiveness. A qualitative analysis based on a case study is presented in this chapter. The analyzed case involves an Italian family-owned small business that faced the recent economic crisis adopting a mix of defensive and offensive strategies. Thanks to this balanced—ambidextrous—strategy, the company was able to limit the impact of the crisis and then to recover positive profit margins. This study contributes to the extant literature by shedding light on how the aim of preserving the socio-emotional wealth can influence small family firms’ ability to adopt ambidextrous strategies in order to face an economic recession.

Suggested Citation

  • Francesca Maria Cesaroni & Annalisa Sentuti & Serena Cubico, 2020. "Small Family Firms and Strategies Coping the Economic Crisis: The Influence of Socio-emotional Wealth," Studies on Entrepreneurship, Structural Change and Industrial Dynamics, in: José Manuel Saiz-Álvarez & João Leitão & Jesús Manuel Palma-Ruiz (ed.), Entrepreneurship and Family Business Vitality, pages 27-48, Springer.
    • Handle: RePEc:spr:seschp:978-3-030-15526-1_3
    DOI: 10.1007/978-3-030-15526-1_3
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