Exploring Transgenerational Entrepreneurship
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Exploring Transgenerational Entrepreneurship

The Role of Resources and Capabilities

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.
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Chapter 2: Family firms and entrepreneurial families as breeding grounds for virtues

Luz Elena Orozco C. and Gustavo González C.


Bucaramanga, Colombia’s fifth largest city, is renowned for its first-rate private schools. Colegio Nueva Castilla (CNC) is ranked 12th among the country’s 200 leading public and private high schools – the result of 40 years of hard work by Tomás, the principal, and Alicia, his wife and CNC’s student counselor. Tomás’s teaching vocation complements his business acumen. As an undergraduate majoring in psychology, he and a professor offered weekend courses to young managers, enabling Tomás to save enough money by the time he graduated to make a down payment on a small private school he renamed. At first Tomás was the school’s principal, manager and teacher, making ends meet by living in the building’s cellar. To attract students, he offered a local radio station a fee for each student enrolled as a result of the station’s publicity – a daring move.

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