Innovación en la empresa familiarinfluencia de los obstáculos, las perspectivas económicas y la orientación familiar

Abstract

The objectives of this work "Innovation in family business: influence of obstacles, economic perspectives and family orientation ", were formulated to analyze some relationships that are not very explored, as is the case of economic perspectives and innovation, also observe how family orientation influences obstacles to innovation and economic perspectives when innovating. The database that has been used comes from the Barometer of the Family Business Observatory of the Mare Nostrum Family Business Chair, the information has been collected through an electronic survey, obtaining the opinion of 149 Family Businesses of the Region of Murcia. The estimation method to test the research model is the technique of structural equations (SEM), based on the variance: Partial Least S quares (PLS). using the Advanced Analysis for Composites (ADANCO) 2.0.1 statistical software. Among the main observations found, it can be concluded that: Family businesses innovate more as there are better economic prospects, probably due to their risk aversion characteristic, in addition to that, family orientation positively influences the effect of economic prospects. However, regardless of economic prospects, greater family orientation positively influences innovation. Family businesses are innovative, although they engage in fewer innovation efforts and make less use of traditional sources of innovation, this suggests that family businesses are less oriented towards the development of technological knowledge and more focused on incremental innovations. The positive impact that innovation has on growth and competitiveness provides family businesses with sufficient reasons to adopt more proactive approaches. The theory suggests that family businesses, due to the virtually invariable discretion of family owners and the involvement of family managers, have a superior ability to innovate compared to their non-family competitors. It can be indicated that, there are a series of obstacles that do not affect either positively or negatively on innovation in the family business, however, the influence of family orientation on these obstacles, financial restrictions, obstacles to demand is also highlighted they are the most important barriers that family businesses face when innovating. We found that when companies do not face one of these obstacles, the rest of the obstacles extend their relevance, that is, only companies that innovate perceive these barriers when innovating. Family businesses distinguish the reputation and family character of the property from incorporating the family into the management, family members feel part of a structure, of a network, with which they relate and communicate due to the existence of a common interest that leads them to share their knowledge . Understanding the role of family functionality and the dimensions of socio - emotional wealth in the pursuit of business innovation objectives can reconcile several opposing studies in family business research.