Smaller family companies are the unexpected innovation powerhouses in many countries in the world

Why it matters When business professors talk about “innovation,” we’re typically referring to investments in research and development, business process improvements, new product creation and other activities associated with product-related strategic change. [...]while such legal protections enable g...

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Bibliographic Details
Published inThe Conversation : Economy + Business
Main Authors Skorodziyevskiy, Vitaliy, Sherlock, Chelsea, Dibrell, Clay, Su, Emma, Chrisman, Jim
Format Newspaper Article
LanguageEnglish
Published Boston The Conversation US, Inc 10.07.2024
Subjects
Entrepreneurship
Family owned businesses
Innovations
Property rights
R&D
Research & development
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Summary:Why it matters When business professors talk about “innovation,” we’re typically referring to investments in research and development, business process improvements, new product creation and other activities associated with product-related strategic change. [...]while such legal protections enable growth for everyone, small and medium-sized family-run businesses stand to gain the most from them. [...]they have less need to innovate thanks to their size and established market presence. The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment. Vitaliy Skorodziyevskiy, Assistant Professor of Management and Entrepreneurship, University of Louisville Chelsea Sherlock, Assistant Professor of Management Clay Dibrell, Professor of Management and Entrepreneurship Emma Su, Assistant Professor of Management, University of Dayton Jim Chrisman, Professor of Management, Mississippi State University