How do owning families ensure the creation of value across generations? A “dual balance” approach

Abstract

The ability to pursue both exploitation and exploration is known to enhance family firm performance. Nevertheless, the interplay that family-centered non-economic goals and socioemotional wealth preservation have in the process of exploitation and exploration is still unknown. In this exploratory study, we address ambidextrous orientation and socioemotional wealth preservation of entrepreneurial families, to introduce the “dual balance” of Transgenerational Families. Using cluster analysis in the Latin American context, our study attempts to open further discussions in the intersection of strategic management with family business research.