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Different Crises in Family SMEs and How to Prepare for Them

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Crisis Management for Small and Medium-Sized Enterprises (SMEs)

Part of the book series: Management for Professionals ((MANAGPROF))

Abstract

In this chapter, we discuss and analyse how family SMEs can prepare for crises originating in different areas. In specific, we discuss how family SMEs can prepare for crises originating in the family, the firm and the environment. There is an overlap in family SMEs, which implies that it is necessary to account for all three areas in a crisis situation. All three dimensions can be the origin for a crisis and part of a solution to handling the crisis. In the following, we discuss each dimension in detail with regard to crisis management in family SMEs. The study offers advice for family SMEs facing a crisis situation caused by internal causes, business or family-induced. Family SMEs should prepare themselves well in advance—with crisis management—to face severe shocks, and not just react under stress. This leads to a more proactive crisis management approach.

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Authors and Affiliations

  1. School of Business, University of Skövde, Skövde, Sweden

    Börje Boers

  2. Visiting Professor University of Verona, Department of Business Administration, Verona, Italy

    Thomas Henschel

  3. Hochschule für Technik und Wirtschaft Berlin, Fachbereich Wirtschafts- und Rechtswissenschaften, Berlin, Germany

    Thomas Henschel

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  1. Börje Boers
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  2. Thomas Henschel
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Correspondence to Börje Boers .

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Editors and Affiliations

  1. Department of Business Administration, Tallinn University of Technology, Tallinn, Estonia

    Susanne Durst

  2. Department of Business Administration, University of Verona, Verona, Italy

    Thomas Henschel

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Boers, B., Henschel, T. (2022). Different Crises in Family SMEs and How to Prepare for Them. In: Durst, S., Henschel, T. (eds) Crisis Management for Small and Medium-Sized Enterprises (SMEs). Management for Professionals. Springer, Cham. https://doi.org/10.1007/978-3-030-91727-2_8

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