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Innovation in Family Businesses

In: Entrepreneurial Family Businesses

Author

Listed:
  • Veland Ramadani

    (South East European University)

  • Esra Memili

    (University of North Carolina at Greensboro)

  • Ramo Palalić

    (International University of Sarajevo)

  • Erick P. C. Chang

    (Arkansas State University)

Abstract

This chapter considers innovation to be a key component for assuring continuity and involvement of family in the business. The dilemma of innovate or perish moves the family to explore for options that may even alter its current offering of products or services. After reading the chapter, students will learn the different forms of innovation, the importance of the product life cycle, the need for involving family in the innovation process, and the implementation stages to accomplish both business and family goals.

Suggested Citation

  • Veland Ramadani & Esra Memili & Ramo Palalić & Erick P. C. Chang, 2020. "Innovation in Family Businesses," Springer Texts in Business and Economics, in: Entrepreneurial Family Businesses, chapter 4, pages 55-80, Springer.
    • Handle: RePEc:spr:sptchp:978-3-030-47778-3_4
    DOI: 10.1007/978-3-030-47778-3_4
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    Cited by:

    1. Jahmurataj, Veton & Ramadani, Veland & Bexheti, Abdylmenaf & Rexhepi, Gadaf & Abazi-Alili, Hyrije & Krasniqi, Besnik A., 2023. "Unveiling the determining factors of family business longevity: Evidence from Kosovo," Journal of Business Research, Elsevier, vol. 159(C).

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