Managing Innovation in Family-Owned Businesses
Keywords:
Family-Owned Businesses, Innovation Management, Family Values, Tradition, SustainabilityAbstract
Family-owned businesses face unique challenges and opportunities when it comes to managing innovation. This article examines the dynamics of innovation management in family enterprises, highlighting the role of family values and traditions. By analyzing family business case studies, we identify strategies that can enhance innovation capabilities while preserving family heritage. The study offers practical recommendations for family businesses seeking to balance tradition with innovation.
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