A1 Journal article (refereed), original research

Strategic renewal in a mature family-owned company – A resource role of the owners

Open Access hybrid publication

Publication Details
Authors: Sievinen Hanna Maria, Ikäheimonen Tuuli, Pihkala Timo
Publisher: Elsevier
Publication year: 2019
Language: English
Related Journal or Series Information: Long Range Planning
ISSN: 0024-6301
eISSN: 1873-1872
JUFO-Level of this publication: 2
Open Access: Open Access hybrid publication


In spite of the high failure rates of later-generation family companies, the research on family firm strategic renewals has been limited. The role of the owners in these situations, in particular, remains underexplored. We address this research gap and suggest that the owners of a family firm can take an active resource role in triggering and supporting change, and by balancing the disruption through bridging the firm's new direction with the past. We propose a framework that illustrates the relationships between the conditions for renewal, strategies for renewal and the owners' behaviour. In addition, we theorise that the owners' influence is not only carried out via active board membership, but also indirectly via the owners' discussions with the TMT and between family members.

Last updated on 2020-20-03 at 10:03