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|Titolo:||A Farewell to the Business: Championing Continuity and Exit in Entrepreneurial Family Firms|
|Data di pubblicazione:||2010|
|Autori interni:||SALVATO, CARLO|
|Autori:||C. Salvato; F. Chirico F.; P. Sharma|
|Rivista:||ENTREPRENEURSHIP AND REGIONAL DEVELOPMENT|
|Abstract:||We trace the development of the Italian Falck Group from its inception as a steel company in 1906 - ascension as the largest privately owned steel producer in Italy - losses in the 1970s and 1980s leading to business exit from steel industry in the 1990s - followed by successful entry in the renewable energy business. A combination of insights from literature and triangulation of data from multiple primary and secondary sources leads to the development of a model describing facilitators and inhibitors of exit from the founder’s business. The critical role of far-sighted family champions is central in moving the family from its anchoring in past activities towards focusing on future entrepreneurial endeavors. While commitment to the founder’s business continues, the family champion aided by business savvy and astute non-family executives ably modifies its meaning of ‘continuity of the founder’s business’ from ‘steel production’ to ‘continuing the entrepreneurial spirit of the family’. Insights from this study can enable a generational family firm to plan and manage business exit from a failing course of action and regenerate itself for trans-generational value creation.|
|Appare nelle tipologie:||01 - Articolo su rivista Scientifica|
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