Edited by Ritch L. Sorenson
Chapter 7: Family social capital as family business resilience capacity
Considering the nature of family businesses, which has varying types and degrees of family involvement, one would expect research on owner management to include not only business management but also family/business interface management. However, that has not been the case in much of the family business research literature. As Stafford et al. have noted, when the family is considered in the family business literature, the prevailing assumption is that families cause problems that must be solved and that maintaining the business takes precedence, even if it harms the family. Because of the emphasis on business functioning, family business research has concentrated on the human and financial capital of family members who are directly involved in the business’s operations. Family business research has paid little attention to other forms of family capital and to other family members, all of which affect the family/business connection and family business sustainability.2 Family business owners must perceive, process, and respond to changing environments and adjust the business’s courses of action to ensure sustainability over time, all of which depend on the relationships among those people within the owning family and the business.
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