Abstract
This chapter considers innovation to be a key component for assuring continuity and involvement of family in the business. The dilemma of innovate or perish moves the family to explore for options that may even alter its current offering of products or services. After reading the chapter, students will learn the different forms of innovation, the importance of the product life cycle, the need for involving family in the innovation process, and the implementation stages to accomplish both business and family goals.
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Ramadani, V., Memili, E., Palalić, R., Chang, E.P.C. (2020). Innovation in Family Businesses. In: Entrepreneurial Family Businesses. Springer Texts in Business and Economics. Springer, Cham. https://doi.org/10.1007/978-3-030-47778-3_4
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DOI: https://doi.org/10.1007/978-3-030-47778-3_4
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