From family businesses to entrepreneurial families: Tacit knowledge at the core of entrepreneurial learning

Abstract

In this chapter I argue that the family as a system becomes an entrepreneurial learning organization. This process of entrepreneurial learning allows for entrepreneurship to emerge not only at the core of the nuclear family, but beyond it. It facilitates the transformation of the family business into an entrepreneurial family in which tacit knowledge is at the core of such learning. Examples from Colombian entrepreneurial families illustrate this process. An emphasis on family meetings, shared experiences, and early involvement of next-generation members will enhance family cohesion while transferring critical knowledge to become an entrepreneurial family.