Crisis Management: A Necessary Evil or Useful Tool? The Role of Socioemotional Wealth in the Crisis Management of Family Firms

IF 7.6 0 MANAGEMENT
B. Boers, T. Henschel
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引用次数: 0

Abstract

The purpose of this paper is to explore and understand how family firms manage a crisis by applying a processual perspective addressing the different phases of a crisis, including its origin, context and consequences. Drawing on a study of six family firms, we find that the leadership of the owning family signifies crisis management in family firms. Also, family firms rely on multiple crisis management practices and make use of their relationships and networks, which support crisis management at different stages. Socioemotional wealth can be both a trigger and a consequence of crisis management procedures. This study contributes to the literature by providing a more nuanced and developed crisis management model that accounts for the peculiarities of family firms. We argue that it is of the greatest importance to consider the consequences of a crisis whose origin stems from the owning family. In particular, such crises will trigger the owning family, as their socioemotional endowment would be at risk, which can free family resources for crisis management practices.
危机管理:必要的恶还是有用的工具?社会情感财富在家族企业危机管理中的作用
本文的目的是探索和理解家族企业如何管理危机,通过应用程序的角度来解决危机的不同阶段,包括其起源,背景和后果。通过对6家家族企业的研究,我们发现家族企业的危机管理体现了家族企业的领导能力。此外,家族企业依靠多种危机管理实践,并利用其关系和网络,支持不同阶段的危机管理。社会情感财富既可以是危机管理程序的触发因素,也可以是其结果。本研究通过提供一个更细致和发达的危机管理模型来解释家族企业的特殊性,从而对文献做出了贡献。我们认为,最重要的是要考虑一场危机的后果,其根源是自己的家庭。特别是,这种危机会触发拥有的家庭,因为他们的社会情感禀赋会受到风险,这可以释放家庭资源用于危机管理实践。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
Management Revue
Management Revue MANAGEMENT-
CiteScore
1.20
自引率
0.00%
发文量
7
期刊介绍: Management Revue - Socio-Economic Studies is an interdisciplinary European journal that undergoes peer review. It publishes qualitative and quantitative work, along with purely theoretical papers, contributing to the study of management, organization, and industrial relations. The journal welcomes contributions from various disciplines, including business and public administration, organizational behavior, economics, sociology, and psychology. Regular features include reviews of books relevant to management and organization studies. Special issues provide a unique perspective on specific research fields. Organized by selected guest editors, each special issue includes at least two overview articles from leaders in the field, along with at least three new empirical papers and up to ten book reviews related to the topic. The journal aims to offer in-depth insights into selected research topics, presenting potentially controversial perspectives, new theoretical insights, valuable empirical analysis, and brief reviews of key publications. Its objective is to establish Management Revue - Socio-Economic Studies as a top-quality symposium journal for the international academic community.
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