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 8: Bridging for resilience: the role of family business social capital in coping with hostile environments

Aramis Rodriguez, Nunzia Auletta and Patricia Monteferrante


After a long and sleepless night, Juan Miguel Sánchez, Vice-President of Sánchez & Co., felt all the responsibility of the company’s future on his shoulders. In less than an hour, he was to present his action plan for a major turnaround to the board of directors. The company and the family were not new to changes and turmoil in their business and social environment. As his father and president of the board, Juan José, was proud to repeat: ‘the history of Sánchez & Co. was evidence of the firm’s considerable capacity for re-inventing itself. In over 90 years, the nature of the company’s business had changed each time circumstances required it, shifting from coffee and cocoa exporters, to foodstuffs importers, to electronics retail and franchising, all without impairing the firm’s progress’. In the last month, Juan Miguel and his managerial team had gone over different scenarios from radically innovating the franchising concept of Video Magic, the group’s home video rental chain, to proceeding to a strong disinvestment strategy in Venezuela. Video Magic was facing major changes in the video rental industry: with the introduction of digital technology, movies became available on the internet, radically changing consumer habits. By 2008, Video Magic franchisees were closing one after the other, at an alarming pace. Hence, will Juan Miguel be able to continue the success story of his father and grandfather, or will he be the first to fail when facing a hostile environment?

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