首页|Strategic renewal of family firms to face vulnerability risks during times of crisis
Strategic renewal of family firms to face vulnerability risks during times of crisis
扫码查看
点击上方二维码区域，可以放大扫码查看
原文链接
NETL
NSTL
Emerald Group Publishing
Purpose This study aims to unveil the impact of strategic renewal and its implications on employment during the COVID-19 pandemic. It explores the role of strategic renewal in mitigating the adverse effects of crises, fostering organizational adaptation and restructuring capabilities. Additionally, it examines the moderating effect of familiness on understanding the strategic renewal process and its importance to family firms during times of crisis.Design/methodology/approach The study utilizes data from the STEP Project Global Consortium, which collected information from 3,026 family firms operating in 75 countries and various sectors during the pandemic. Structural Equation Modeling was employed to test the authors' research hypotheses.Findings The authors' results reveal that strategic renewal significantly impacted employment growth during the COVID-19 pandemic of family firms. Strategic renewal plays a crucial role in mitigating the negative effects of that crisis on employment by helping firms adapt and restructure their capabilities. The study also found that synergies among family members positively influenced innovation in organizational resilience and enhanced the positive effects of strategic renewal on employment growth.Originality/value This study contributes to the literature by emphasizing the importance of strategic renewal of family businesses during the COVID-19 pandemic. It offers insights into mitigating vulnerability risks amidst crises and adds to the understanding of the strategic renewal process and its implications for the organizations. The findings hold theoretical implications for the field of strategic management and provide valuable insights into the unique challenges and opportunities faced by family firms in uncertain environments.Peer review The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-11-2022-0771
NETL
NSTL
Emerald Group Publishing
