Family Businesses’ Views on Internationalization: Do they Differ by Generations?

Abstract

The purpose of this exploratory study is to compare the views on internationalization (i.e., global business attitudes) of family businesses run by 'first', 'second' and 'third' generation owners. It is common to investigate/ ascertain different generational perspectives and its impact on strategy and performance. This research compares differences in internationalization views of multi-generational owners. It is hoped that conclusions can be derived as to the impact of succeeding generational owners on internationalization. A mail survey of US family business owners based in Ohio was conducted. The results revealed remarkable consistency and similarity in views pertaining to internationalization by the first, second, and third generation owners. Family business owners irrespective of their generation do not monitor foreign markets, desire relations with foreign family owned businesses, etc. They also felt their businesses were not affected by foreign competitors.