Exploring Transgenerational Entrepreneurship

Exploring Transgenerational Entrepreneurship

The Role of Resources and Capabilities

The Successful Transgenerational Entrepreneurship Practices series

Edited by Pramodita Sharma, Philipp Sieger, Robert S. Nason, Ana Cristina Gonzalez L. and Kavil Ramachandran

Transgenerational entrepreneurship, as a discipline, examines the processes, resources and capabilities that allow family enterprises to create social and economic value over time in order to succeed beyond the first generation of business owners. While tangible resources such as financial and physical capital are certainly important factors in the long-term success of a family-run business, this book focuses specifically on the role of intangible resources and capabilities, which are less easily quantifiable but equally vital.

Chapter 3: Professionalization of the family business: decision-making domains

Alberto Gimeno and Maria José Parada

Subjects: business and management, entrepreneurship, family business


Rafael, Bernardo’s second child, studied engineering and has always worked in the family business. After working with his father for 20 years, he realized the long and challenging path that lay ahead for him and his two brothers. Until now, all decisions, especially the strategic ones, were made quickly by his father who followed his intuition. Unlike their father however, Rafael and his brothers did not feel they had the same ‘ability’ to grasp the right opportunity intuitively. Bernardo Kohl was the son of a miller and a housewife and the youngest of eight siblings. He had a hard childhood as his father died when he was a baby. His family made their living from farming and when resources were scarce they turned to selling plots of family land. He shouldered the responsibility of caring for his family and left school at a very young age in order to work on the family farm.

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