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Article
Why Can’t a Family Business Be More Like a Nonfamily Business? Modes of Professionalization in Family Firms
Family Business Review
  • Alex Stewart, Marquette University
  • Michael A Hitt, Texas A & M University - College Station
Document Type
Article
Language
eng
Format of Original
29 p.
Publication Date
3-1-2012
Publisher
SAGE Publications
Original Item ID
DOI: 10.1177/0894486511421665
Disciplines
Abstract

The authors survey arguments that family firms should behave more like nonfamily firms and “professionalize.” Despite the apparent advantages of this transition, many family firms fail to do so or do so only partially. The authors reflect on why this might be so, and the range of possible modes of professionalization. They derive six ideal types: (a) minimally professional family firms; (b) wealth dispensing, private family firms; (c) entrepreneurially operated family firms; (d) entrepreneurial family business groups; (e) pseudoprofessional, public family firms; and (f) hybrid professional family firms. The authors conclude with suggestions for further research that is attentive to such variation.

Comments

Accepted version. Family Business Review, Vol. 25, No. 1 (March 2012): 58-86. DOI. © SAGE Publications 2012. Used with permission.

Citation Information
Alex Stewart and Michael A Hitt. "Why Can’t a Family Business Be More Like a Nonfamily Business? Modes of Professionalization in Family Firms" Family Business Review (2012) ISSN: 0894-4865
Available at: http://works.bepress.com/alex_stewart/21/