The global family business: Challenges and drivers for cross-border growth

Globalization has become an imperative and is no longer avoidable as a strategic choice for family businesses. However, globalization strategies are far from the norm among small and medium-sized family enterprises. This article reviews the main drivers for globalization, highlights the distinct cha...

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Bibliographic Details
Published in:Business horizons 2012-05, Vol.55 (3), p.231-239
Main Authors: Patel, Vijay K., Pieper, Torsten M., Hair, Joseph F.
Format: Article
Language:English
Subjects:
Business growth
Family business
Family owned businesses
Globalization
Push and Pull factors
Small & medium sized enterprises-SME
Strategic choices
Strategic management
Studies
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Summary:Globalization has become an imperative and is no longer avoidable as a strategic choice for family businesses. However, globalization strategies are far from the norm among small and medium-sized family enterprises. This article reviews the main drivers for globalization, highlights the distinct characteristics of family businesses that may enhance or constrain their global expansion, and provides a framework for strategically evaluating business capabilities and global market opportunities.
ISSN:0007-6813
1873-6068
DOI:10.1016/j.bushor.2012.01.002