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Article
Publication date: 3 September 2020

Gülçin Polat

Although it has been implicitly or explicitly assumed that family business professionalization is indeed a multidimensional construct, there has been a tendency to confine it to…

940

Abstract

Purpose

Although it has been implicitly or explicitly assumed that family business professionalization is indeed a multidimensional construct, there has been a tendency to confine it to the employment of nonfamily managers and delegating authority in academic research. Dekker et al. (2013) have made an impressive work in untangling the multidimensional structure of family business professionalization. This paper aims to introduce a more comprehensive multidimensional approach and a framework to understand and study family business professionalization by identifying additional dimensions.

Design/methodology/approach

The conceptual framework relies on insights derived from the literature on family business professionalization, occupational professionalism and organizational professionalism to reveal the broader multidimensionality of family business professionalization.

Findings

The proposed framework extends the definition of family business professionalization and offers additional dimensions which were grouped under five overarching headings: professionalization of management, professionalization of organizational structure, processes and operations, professionalization of family's relationship with business, professionalization of employees and professionalization of work environment and culture.

Originality/value

This paper contributes to the literature by providing a wider approach for the understanding of family business professionalization. It presents a new way of thinking about family business professionalization, underlining the importance of employees and organizational culture for the professionalization process in family firms.

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Article
Publication date: 8 February 2022

Gülçin Polat and Serap Benligiray

This study aims to broaden the multidimensional conceptualization of family business professionalization, and to investigate how professionalization influences the financial…

737

Abstract

Purpose

This study aims to broaden the multidimensional conceptualization of family business professionalization, and to investigate how professionalization influences the financial performance of family firms, in the context of private family firms.

Design/methodology/approach

Taking a quantitative research approach, the study empirically examines the effect of professionalization on family firm performance, using a sample of 111 privately held Turkish family firms. The hypotheses were tested using regression analysis and the independent samples t-test.

Findings

The results indicate that the professionalization of family businesses has a positive effect on their financial performance, and the professionalization of employees is the prominent dimension of professionalization in this effect.

Research limitations/implications

This study advances the understanding of how professionalization influences family firm performance by providing additional empirical evidence regarding the positive influence of multifaceted family business professionalization on financial performance.

Practical implications

The professionalization framework depicted in this study helps owners, managers, or consultants of family businesses assess the professionalization level of their firm and understand the performance effects of each of the family business professionalization dimensions on financial performance. It can also serve as a roadmap for family firms to professionalize and achieve better performance.

Originality/value

Unlike previous studies, this study incorporates employees, organizational culture and work environment, often neglected in the family business literature, into the multidimensional family business professionalization construct, thus extending previous research. The study contributes to a deeper understanding of the relationship between family businesses professionalization and firm performance.

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Article
Publication date: 9 August 2021

Gülçin Polat

The purpose of this paper is to analyze the business model of techno parks (TPs) in Turkey and shed light on the value co-creation in TPs in the light of the service perspective…

397

Abstract

Purpose

The purpose of this paper is to analyze the business model of techno parks (TPs) in Turkey and shed light on the value co-creation in TPs in the light of the service perspective and stakeholder theory.

Design/methodology/approach

In this conceptual paper, a generic business model canvas for Turkish TPs has been elicited based on an in-depth review of the literature. Then, the functioning of the model and the nature of value co-creation have been viewed through the lenses of service perspective and stakeholder theory, and then the relationships and flows between the components of the business model have been visualized with a dynamic model.

Findings

The institutional environment leads Turkish TPs to have similar business models with functional differences. The value is co-created by stakeholders in TPs and value co-creation depends on the skills, competencies and cooperative efforts of all actors involved in the functioning of the business model.

Practical implications

This paper provides insight for TP management companies to improve their business models, for policymakers to refine institutional framework to enable effective functioning of TPs and for stakeholders to understand their role in value co-creation.

Originality/value

This paper provides a dynamic framework and a model for understanding business models of TPs and the value co-creation process, which is an understudied area, especially in a developing country context. It also extends the business model and value co-creation literature in the context of TPs by integrating multiple theoretical perspectives.

Details

Journal of Science and Technology Policy Management, vol. 13 no. 2
Type: Research Article
ISSN: 2053-4620

Keywords

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Abstract

Details

Journal of Science and Technology Policy Management, vol. 13 no. 2
Type: Research Article
ISSN: 2053-4620

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