Learning of Successors in Long-Lived Family Firms: Knowledge Construction for Entrepreneurial Mindsets (73740)

Session Information: Learning Experiences
Session Chair: Thoedsak Chomtohsuwan

Friday, 24 November 2023 14:45
Session: Session 4
Room: Room 705
Presentation Type: Oral Presentation

All presentation times are UTC + 9 (Asia/Tokyo)

This study explores how successors in long-lived family firms learn entrepreneurial mindsets that orient the reconfiguration of unique resources of family firms. Learning to shape business values and beliefs is important for successors because values and beliefs are the firms' core related to organizational identity and culture. Entrepreneur mindsets are values and beliefs that pursue opportunities. Previous research indicated that successors do not only acquire knowledge from their predecessors but also learn from external education, internal and external work experience, and stakeholders. Our previous research about long-lived family firms showed that entrepreneurial mindsets are one of the elements learned from transgenerational family knowledge and that successors have complex learning of explicit and tacit knowledge.
This research to deepen entrepreneurial mindsets is a case study of semi-structured interviews with family managers of 15 family firms over 100 years since their establishment in Japan. The findings show three types of learning for entrepreneurial mindsets.
1. Learning entrepreneurial mindsets from transgenerational family knowledge.
2. Recognizing the constrictive resources of the family business and forming entrepreneurial mindsets from self-learning or external experience forward retrieve of the family business.
3. Recognizing VRIN (Valuable, Rare, In-imitable, and Non-substitutable) resources of the family business and forming conservative entrepreneurial mindsets to maintain current resources.
Successors of long-lived family firms understand the history and current situation of the family business and form their values and beliefs through comprehensive learning. Their values and beliefs lead to optimizing actions for the persistence of the family business.

Authors:
Koichi Chujo, Japan Advanced Institute of Science and Technology, Japan
Rihyei Kang, Hosei University, Japan


About the Presenter(s)
Mr Koichi Chujo is a University Doctoral Student at Japan Advanced Institute of Science and Technology in Japan

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Posted by Clive Staples Lewis

Last updated: 2023-02-23 23:45:00