The purpose of this study is to systematically examine the advantages and disadvantages of different
types of family businesses operating in Europe. For
this, we make a distinction between a firm’s family
and business orientation. The two dimensions are
used to develop a space of family businesses that
include ‘Houses of Business’, ‘Family Money
Machines’, ‘Family Life Traditions’, and ‘Hobby
Salons’. We argue that the firm’s location in the
orientation space, which may change over time,
relates to specific competitive strengths and weaknesses.
The purpose of this study is to systematically examine the advantages and disadvantages of differenttypes of family businesses operating in Europe. Forthis, we make a distinction between a firm’s familyand business orientation. The two dimensions areused to develop a space of family businesses thatinclude ‘Houses of Business’, ‘Family MoneyMachines’, ‘Family Life Traditions’, and ‘HobbySalons’. We argue that the firm’s location in theorientation space, which may change over time,relates to specific competitive strengths and weaknesses.
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