Emily Marett, Laura Marler and Kent Marett
One of the key characteristics that distinguishes the family business from other firms is the importance of accruing and maintaining socioemotional wealth (SEW). Using an…
Abstract
Purpose
One of the key characteristics that distinguishes the family business from other firms is the importance of accruing and maintaining socioemotional wealth (SEW). Using an experimental design, this exploratory study investigates the communication practices of family business leaders responding to employees responsible for a business disruption. The purpose of this paper is to determine whether managers take action to protect SEW while responding to a crisis.
Design/methodology/approach
Three employees of a family firm participated in the experiment. A family member employee and a non-family employee were instructed to write a message informing a family member leader of a business disruption they created (infecting a computer with malware). The family member leader then received these messages and wrote a response to each employee. These responses were then content analyzed to determine whether messages expressed SEW importance and to see if SEW content differed based on the recipient’s familial status.
Findings
Content analysis of messages intended for family members and non-family employees indicated that messages intended for family members contain significantly different content associated with dimensions of Socioemotional Wealth Importance scale, particularly in terms of reinforcing family dominance, sustaining family continuity, and maintaining family enrichment.
Originality/value
This study is the first to examine crisis communication within the family firm and whether SEW endowment occurs via internal communication within the family firm. By utilizing an experiment, this study extends the SEW literature further by adding to the diversity of techniques utilized to study this topic.
Details
Keywords
Michele N. Medina-Craven, Emily Garrigues Marett and Sara E. Davis
This conceptual paper explores how the activation of the individual-level trait grit can explain variance in successor willingness to take over leadership of the family firm.
Abstract
Purpose
This conceptual paper explores how the activation of the individual-level trait grit can explain variance in successor willingness to take over leadership of the family firm.
Design/methodology/approach
Drawing from trait activation and situation strength theories, the authors develop a framework to examine the interactions of the two dimensions of grit (passion and perseverance) on the successor's willingness to take control of the family firm.
Findings
The authors identify how the grit dimensions would interact with the situational cues present during the succession process to predict the successor's willingness to take control of the family firm and offer testable propositions to guide future empirical work.
Originality/value
The authors help to address the growing need for additional microfoundational family firm research by drawing insights from organizational behavior theories and personality research and apply them to the family firm succession process.