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Knowledge and the Family Business

The Governance and Management of Family Firms in the New Knowledge Economy

  • Manlio Del Giudice
  • Maria Rosaria Della Peruta
  • Elias G. Carayannis

Part of the Innovation, Technology, and Knowledge Management book series (ITKM, volume 7)

Table of contents

  1. Front Matter
    Pages i-ix
  2. Manlio Del Giudice, Maria Rosaria Della Peruta, Elias G. Carayannis
    Pages 1-7
  3. Family Businesses in the New Knowledge Economy: Governance and Management

    1. Front Matter
      Pages 9-9
    2. Manlio Del Giudice
      Pages 11-46
    3. Maria Rosaria Della Peruta
      Pages 73-107
    4. Manlio Del Giudice
      Pages 109-123
    5. Manlio Del Giudice
      Pages 125-186
  4. Family Business Entrepreneurs as Creative Destroyers and “Knowledge Weavers”

    1. Front Matter
      Pages 187-187
    2. Elias G. Carayannis
      Pages 189-228
    3. Elias G. Carayannis
      Pages 229-249
  5. Back Matter
    Pages 261-267

About this book

Introduction

Family businesses—the predominant form of business organization around the world—can make numerous, critical contributions to the economy and family well-being in both financial and qualitative terms. But dysfunctional family businesses can be difficult to manage, painful experiences at best, and they can destroy family wealth and personal relationships. This book explores the dynamics of family business management, in the context of constantly changing market conditions and the role that knowledge management plays in strategic planning and adaptation. Integrating the literature from family business, entrepreneurship, industrial psychology, and knowledge management, and with illustrative examples from a variety of enterprises, the authors address such topics as: •How family businesses can compete in the new knowledge economyHow to manage a family business when knowledge is its main assetHow to transfer knowledge (and how to keep it alive) through family generations Within this framework, the authors argue that effective resource management—especially intangible resources—is central to enabling a family-run organization to maintain a sustainable competitive advantage over time. They note that families often develop systemic, intuitive, or tacit knowledge that transcends rational decision making and needs to be recognized and nurtured as a distinctive asset. The authors demonstrate that trans-generational value is achieved when the family firm innovates and adapts itself to changing external and internal conditions. This kind of entrepreneurial performance requires dynamic capabilities and processes designed to acquire, exchange, combine and even shed knowledge and practices; and, in turn, dynamic capabilities result from mechanisms of knowledge sharing, collective learning, experience accumulation, and transfer.

Keywords

Entrepreneurship Family business Knowledge management Organizational learning Resource management Strategic Management

Authors and affiliations

  • Manlio Del Giudice
    • 1
  • Maria Rosaria Della Peruta
    • 2
  • Elias G. Carayannis
    • 3
  1. 1.Second University of NaplesNaplesItaly
  2. 2.NaplesItaly
  3. 3.School of BusinessGeorge Washington UniversityWashingtonUSA

Bibliographic information

  • DOI https://doi.org/10.1007/978-1-4419-7353-5
  • Copyright Information Springer Science+Business Media, LLC 2011
  • Publisher Name Springer, New York, NY
  • eBook Packages Business and Economics
  • Print ISBN 978-1-4419-7352-8
  • Online ISBN 978-1-4419-7353-5
  • Buy this book on publisher's site