Open Innovation in Family Firms

The Emerald Insight website posted a study whose purpose is to shed light on how family firms execute open innovation strategies by managing internal and external knowledge flows (KF) to provide a deeper understanding of family firms’ ability to innovate through traditions and create value across generations. The study derives a model that explains the most relevant factors behind the innovation processes developed by young entrepreneurs in family firms: network membership benefits; KF; track record of innovation; and the entrepreneurial attitude of employees. The study offers interpretative lenses for entrepreneurs and managers to understand the most suitable knowledge transfer process for encouraging open innovation in family firms, taking into consideration young entrepreneurs’ traditions and interpersonal skills.

Click here to read the full abstract.

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