Exploring Growth and Performance in Family Firms Across Generations
Edited by Mattias Nordqvist and Thomas M. Zellweger
While family businesses contribute significantly to the global economy, and have done so for centuries, scholarly research is disproportionately low. More sparse are studies that explore the intersections and relationships among family, firm and entrepreneurial growth. The STEP Project is a landmark effort to better understand the nature of entrepreneurial family firms and to develop theories and hypotheses for future testing. This project emerged from the work of Tim Habbershon, more than six years ago. Tim was committed to creating a global research project that ‘addresses one of the greatest challenges faced by business families worldwide – growth and continuity that spans many generations’. To this end, he created a grand vision for this global research project that included three main aspects: ● ● ● Conduct leading edge research on the entrepreneurial capabilities and contribution of business families worldwide. Generate an applied stream of entrepreneurship powerful practices that lead to family business continuity and growth. Provide a shared learning environment where researchers and professors interact with family business leaders to generate solutions that have immediate impact. The logic for the formation of the Successful Transgenerational Entrepreneurship Practices (STEP) Project was to bring together researchers and mid to large size family business leaders so that the research would have practical relevance to the families, as well as address important empirical and theoretical questions. The research objectives of this project are to examine how business families generate new streams of economic and social wealth. With Babson College, the STEP Project was officially launched in 2005 by...