Entrepreneurial Essence in Family Businesses: Continuity in Family Capitalism  
by Bernardo Bertoldi (Author)

About this Book
This monograph seeks to identify the mechanism that successfully guides the continuity of the family business through generations. Different perspectives have been used through years: from the identification of the entrepreneurial characteristics to the succession model implemented, and to the educational path for the next generations of entrepreneurs. In this context, the book focuses the attention on the link between different generations of entrepreneurs. In particular, it presents and analyzes the evolutive circle of the family business among generations. This approach permits a holistic view of the intergenerational entrepreneurship within the entrepreneurial families and their businesses. Once intergenerational entrepreneurship has been deeply described, two areas in which the next generation must excel are analyzed: the adaptation to the evolution of the external environment, and the leadership attitude.

The author's central message is that evolution happens when the entrepreneurial processes are absorbed by the next generation through the learning of heuristics. Having a leadership style is more than setting a vision, which has to do with strategy and taking important decisions.

Brief Contents
1 Introduction 1
    1.1 Entrepreneurial Essence in Family Businesses 2
    Reference 10
2 The Trigger: Identification of Entrepreneurial Virtues 11
    2.1 The Entrepreneurship Researches 12
        2.1.1 Definitions of Entrepreneurship 13
        2.1.2 Characteristics of the Entrepreneur 14
        2.1.3 Virtues, Character Strengths and Situational Themes 19
    2.2 Method 19
    2.3 Results 22
    2.4 Discussion and Conclusion 24
    References 26
3 The Family Business Continuity: Entrepreneurial Processes and Heuristics 31
    3.1 A Step Toward Transgenerational Processes 32
        3.1.1 The Heuristics 33
        3.1.2 Heuristics in Management 34
        3.1.3 The Heuristics as Entrepreneurial Processes 35
        3.1.4 Heuristics Can Be “Second Hand” Imprinted to NextGen 37
        3.1.5 Imprinting Tend to “Block” the Future of the Company 38
        3.1.6 Heuristics Are Domain Specific; Therefore, Domain Specific Are the Entrepreneurial Processes 39
        3.1.7 Evolving the Entrepreneurial Processes Means Adapting the Set of Entrepreneurial Heuristics to a New Domain 40
        3.1.8 Some Entrepreneurial Processes Are Easier to Change, Other Less: It Depends on How They Are Built 41
    3.2 Method 42
    3.3 Results 47
    3.4 Discussion 48
    3.5 Conclusion 54
    References 57
4 The Convergence: Entrepreneurial Essence 63
    4.1 How Decisions on Processes and Assets Are Taken in the Founding Phase 63
        4.1.1 The Creation of a Company 64
    4.2 Methodology 66
    4.3 Findings 67
        4.3.1 Honda 67
        4.3.2 Disney 69
        4.3.3 Ferrari 71
    4.4 Discussion and Conclusion 78
    4.5 Further Consideration on Entrepreneurial Essence and the Evolution of the Competitive Landscape 83
    4.6 Entrepreneurial Essence and Management: The Missing Link 88
    References 92
5 The External Effect: Change Is the Constant in the Evolution of Every Business, Including Family’s Ones 95
    5.1 Markets Are Influenced by Continuous Changes 96
        5.1.1 The Dynamic Environment and Its Influence on Companies 98
        5.1.2 Knowledge Leaders and Elements to Manage 99
    5.2 Method 100
    5.3 Evidences from the Cases 102
    5.4 Conclusion 110
    References 111
6 The Leadership Style to Lead the Evolution of the Entrepreneurial Essence: A Proposal 115
    6.1 The Leader: Between Theory and Sergio Marchionne Style 116
        6.1.1 Delegation and Trust: The Alchemy of Leadership 119
    6.2 Methodology 123
    6.3 The Case Study 124
        6.3.1 The FIAT Turnaround: The Foreword of the Chrysler Resurrection 124
        6.3.2 The Group Leadership Relational Contract 126
        6.3.3 The Leadership Group Functioning System 128
        6.3.4 The Delivery System 137
        6.3.5 The Merge of Two Culture 139
        6.3.6 The Chrysler First 6 Months: Decisions Made 141
        6.3.7 Great Group Leadership and Entrepreneurial Essence Evolution 146
    6.4 Entrepreneurial Essence Evolution, Nextgen, and Management: The Synthesis 147
    6.5 Conclusion: What Is All This About? 150
    References 151

Series : International Series in Advanced Management Studies
ASIN : B08S33N4HT
Publisher : Springer; 1st ed. 2021 edition (January 4, 2021)
Language : English
Pages : 240