Elias Hadjielias, Eleanor Hamilton and Carole Howorth
Allan Discua Cruz, Elias Hadjielias and Carole Howorth
Family entrepreneurial teams (FETs) have unique advantages and challenges that arise from their composition and dynamics. Studies of family business have traditionally focused on the business rather than the families behind businesses. Many families have a portfolio of enterprises and operate as an entrepreneurial team. Families have tended to be overlooked in studies of entrepreneurial teams. This chapter draws on knowledge of entrepreneurial teams and family businesses in order to explain family entrepreneurial teams’ functions and outcomes. A synthesis of the key concepts and dimensions in entrepreneurial teams enables the refinement of prior definitions and theorizing about family entrepreneurial teams. By focusing on the key dynamics (i.e., formation and composition, team interaction and team turnover) and outcomes of family entrepreneurial teams, the chapter will shed light on the contextual realities of FETs and the way that they differ from other entrepreneurial teams.