Family Businesses' Culture and Innovativeness of Successors
Abstract
The article empirically examines the relationship between family businesses’ culture and successors’ innovativeness. The research results demonstrate that the family business culture of individual orientation is perceived by successors as very important for their innovativeness and positively influences their creativity and process innovations. The empirical evidence also supports our hypothesis that long-term orientation of the family businesses culture positively affects successors’ creativity, original thinking, experimenting with new ways of doing things, development of new ideas, new products and services. Research findings show that relationships between family businesses’ culture influenced by founders’ value system and successors’ innovativeness are complex.
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