This book provides an extensive overview of family business-related topics such as context and uniqueness, lifecycle and ownership configurations, conflict management, corporate governance, succession challenges, internationalization, innovation, and socioemotional wealth. Each chapter features clear learning objectives, key concepts and terminology, and dedicated case studies to demonstrate the main messages. The book not only considers the day-to-day dynamics in family businesses but also places substantial emphasis on the entrepreneurial skills needed for these businesses to survive and thrive, today and tomorrow. In addition, it elaborates and discusses a number of best practice examples, which offer valuable guidance not only for scholars but also for students who wish to study these challenges. This new edition includes new topics, such as open innovation, sustainable and green family entrepreneurship, digital aspects in the family business, estate planning, and strategic HR. Specially curated case studies, and additional tasks and activities for classrooms will be particularly useful for MBA students and lecturers.

Autorentext

Veland Ramadani is a Professor of Entrepreneurship and Family Business at the Faculty of Business and Economics, South-East European University, North Macedonia. His research interests include entrepreneurship, small business management, and family businesses. He authored or co-authored several research articles, textbooks, and edited volumes. He has published in the Journal of Business Research, Technological Forecasting and Social Change, Review of Managerial Science, Technology in Society, International Journal of Entrepreneurial Behavior & Research, and Management Decision, among others. In 2017, he was appointed as a member of the Supervisory Board of the Development Bank of North Macedonia, where for ten months served as an acting Chief Operating Officer (COO) as well.

Erick P.C. Chang is an Associate Professor of Management at Neil Griffin College of Business at Arkansas State University (USA). He comes from an entrepreneurial family, who has run businesses in Guatemala, the U.S., and other countries over the last 5 generations. He has published in the Journal of Business Venturing, Entrepreneurship: Theory and Practice, and Family Business Review, among others. He is an editorial board member of Family Business Review and Journal of Family Business Strategy. His achievements include Arkansas Governor's Cup as an advisor; C. Sam Walls Entrepreneurship Educator of the Year for Arkansas, A-State Service Faculty Award; and other prominent achievements.

Ramo Palalic is an Assistant Professor at the Management Department, College of Economics and Political Science, Sultan Qaboos University, Oman. Dr Palalic has authored and co-authored many articles in globally recognised journals like Management Decision, International Journal of Entrepreneurial Behavior & Research, International Entrepreneurship and Management Journal, and alike. Additionally, he has co-authored/co-edited several books and many book chapters in the field of entrepreneurship. Moreover, Dr. Palalic is serving as the Co-Editor in Chief of Gestion 2000 J**ournal, Associate Editor of Asia Pacific Management Review, Enterprising Communities (JEC), and H**eritage and Sustainable Development (HSD). Additionally, he is an active reviewer and editorial board member in several well-established international journals.

Esra Memili is an Associate Professor of Entrepreneurship and Dean's Notable Scholar at the Bryan School of Business and Economics, University of North Carolina-Greensboro (USA). She is the author of manuscripts that have appeared in Entrepreneurship Theory and Practice, Global Strategy Journal, Long Range Planning, Family Business Review, Journal of Small Business Management, Journal of Family Business Strategy, Small Business Economics, and others. She is an Associate Editor at Journal of Family Business Strategy and an Editorial Review Board member of the Journal of Management Studies, Family Business Review, Journal of Leadership and Organizational Studies, Entrepreneurship Research Journal, and the International Journal of Management and Enterprise Development. Dr. Memili has recently published a co-edited book titled The Palgrave Handbook of Heterogeneity among Family Firms.