Socioemotional wealth of family business model innovation: facing exogenous shocks
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business model innovation, COVID-19 pandemic, exogenous shocks, family business, pre-kindergarten and kindergarten
The COVID-19 pandemic is a major exogenous shock that generates vulnerability in various economic sectors. The objective of this research is to explore the presence, preservation, and influence of the socioemotional wealth of family business model innovation in civil organizations made for education managed by families facing the exogenous shock that is the COVID-19 pandemic, with the purpose of generating empirical evidence of the variations in the organizational and normative routines of the family business model and understanding what the abrupt change represents in the family’s system of organization. To achieve this goal, case study qualitative research was used, through a semi-structured interview based on the taxonomy of the conceptual model of the theoretical framework, which allowed the phenomenon to be explored in chronological depth within the contemporary context. The results showed that, faced with the vulnerability that comes with exogenous shocks, the school presented innovations that were shown in the firm’s value offering, firm’s revenue model, and in the firm’s value creation architecture. Empirical evidence of the presence of norms loaded with socioemotional wealth that establish the control and achievement of the family goals within the business model innovation was also shown. Finally, the presence and preservation of the socioemotional wealth within the civil organization was found. It is concluded that permeating family values in the organization encourages the identification of family members, as well as other organizations and parents, with the company. The latter consider their homes to be an extension of the school, and they were sensitized to understand that not investing in their children’s initial education can negatively impact their language, psychomotor development, and socialization.
A. Osterwalder y Y. Pigneur, Business Model Generation: a handbook for visionaries, game changers, and challengers., 1a ed. John Wiley & Sons,
A. Osterwalder, Y. Pigneur, y C. L. Tucci, “Clarifying Business Models: Origins, Present, and Future of the Concept”, Commun. Assoc. Inf. Syst., vol. 16, 2005, doi: 10.17705/1CAIS.01601
C. Decker, K. Heinrichs, P. Jaskiewicz, y S. Rau, “What do we know about succession in family businesses? Mapping Current knowledge and unexplored territory.”, en The Routledge Companion to Family Business, Routledge, 2017
D. J. Teece, “Business Models, Business Strategy and Innovation”, Long Range Plann., vol. 43, núm. 2, pp. 172–194, abr. 2010, doi: 10.1016/j.lrp.2009.07.003
D. Weismeier-Sammer, “The role of familiness for family business innovativeness”, Int. J. Entrep. Ventur., vol. 6, núm. 2, pp. 101–117, ene. 2014, doi: 10.1504/IJEV.2014.062747
E. Ries, El método Lean Startup: Cómo crear empresas de éxito utilizando la innovación continua. Grupo Planeta Spain, 2012.
F. Hernández-Perlines, J. Moreno-Garcia, y B. Yáñez-Araque, “The influence of socioemotional wealth in the entrepreneurial orientation of family businesses”, Int. Entrep. Manag. J., vol. 15, pp. 523–544, 2019, doi: 10.1007/S11365-019-00561-0
G. Vanoni y M. P. Brito, Empresas familiares: diagnóstico estratégico para la toma de decisiones. Universidad Internacional del Ecuador, Guayaquil, 2018
H. Shen, M. Fu, H. Pan, Z. Yu, y Y. Chen, “The Impact of the COVID-19 Pandemic on Firm Performance”, Emerg. Mark. Finance Trade, vol. 56, núm. 10, pp. 2213–2230, ago. 2020, doi: 10.1080/1540496X.2020.1785863
H. Xiong, Z. Wu, F. Hou, y J. Zhang, “Which Firm-specific Characteristics Affect the Market Reaction of Chinese Listed Companies to the COVID-19 Pandemic?”, Emerg. Mark. Finance Trade, vol. 56, núm. 10, pp. 2231–2242, 08 2020, doi: 10.1080/1540496X.2020.1787151
J. Creswell, W. Hanson, V. Clark, y A. Morales, “Qualitative Research Designs: Selection and Implementation.”, The Counseling Psychologist, pp. 236–264, 2007, doi: 10.1177/0011000006287390
J. Mendoza, M. Hernánez, y B. Salazar, “Structural, Psychological, and Socioemotional Factors That Determine Innovation Decisions in Family Firm”, en Handbook of Research on the Strategic Management of Family Business, 2020
J. Magretta, “Why Business Models Matter”, Harv. Bus. Rev., vol. 80, núm. 5, pp. 86–92, may 2002, Consultado: ago. 05, 2021. [En línea]. Disponible en: http://0search.ebscohost.com.bibliotecails.tec.mx/login.aspx?direct=true&db=b su&AN=6623782&lang=es&site=ehostlive
J. Mason, Qualitative Researching. SAGE, 2017
L. Gómez-Mejía, P. Pankaj, y T. Zellweger, “In the Horns of the Dilemma: Socioemotional Wealth, Financial Wealth, and Acquisitions in Family Firms.”, Journal of Management, vol. 44, núm. 4, pp. 1369–1397, 2018, Consultado: jul. 10, 2021. [En línea]. Disponible en: https://journals.sagepub.com/doi/abs/10.1177/0149206315614375
L. Gomez-Mejia, R. Basco, A. C. Gonzalez, y C. G. Muller, “Family business and local development in Iberoamerica”, Cross Cult. Strateg. Manag., vol. 27, núm. 2, pp. 121–136, ene. 2020, doi: 10.1108/CCSM-02-2020-223
L. R. Gómez-Mejía, K. T. Haynes, M. Núñez-Nickel, K. J. L. Jacobson, y J. Moyano-Fuentes, “Socioemotional Wealth and Business Risks in Familycontrolled Firms: Evidence from Spanish Olive Oil Mills”, Adm. Sci. Q., vol. 52, núm. 1, pp. 106–137, mar. 2007, doi: 10.2189/asqu.52.1.106
K. Brigham y G. T. Payne, “Socioemotional Wealth (SEW): Questions on Construct Validity”, Fam. Bus. Rev., vol. 32, pp. 326–329, dic. 2019, doi: 10.1177/0894486519889402.
M. W. Johnson, C. M. Christensen, y H. Kagermann, “Reinventing Your Business Model. (cover story)”, Harv. Bus. Rev., vol. 86, núm. 12, pp. 50–59, dic. 2008, Consultado: jul. 31, 2021. [En línea]. Disponible en: http://0-search.ebscohost.com.biblioteca-ils.tec.mx/login.aspx?direct=true&db=bsu&AN=35386627&lang=es&site=ehost-live
M. W. Johnson y A. G. Lafley, Seizing the White Space: Business Model Innovation for Growth and Renewal. Harvard Business Press, 2010
O. Llanos-Contreras, M. Jabri, y P. Sharma, “Temporality and the role of shocks in explaining changes in socioemotional wealth and entrepreneurial orientation of small and medium family enterprises”, Int. Entrep. Manag. J., vol. 15, núm. 4, pp. 1269–1289, dic. 2019, doi: 10.1007/s11365-019-00595-4
P. Berrone, C. Cruz, y L. R. Gomez-Mejia, “Socioemotional Wealth in Family Firms: Theoretical Dimensions, Assessment Approaches, and Agenda for Future Research”, Fam. Bus. Rev., vol. 25, núm. 3, pp. 258–279, sep. 2012, doi: 10.1177/0894486511435355
P. Spieth y S. Schneider, “Business model innovativeness: designing a formative measure for business model innovation”, J. Bus. Econ., vol. 86, núm. 6, pp. 671–696, ago. 2016, doi: 10.1007/s11573-015-0794-0
R. M. Wiseman y L. R. Gomez-Mejia, “A Behavioral Agency Model of Managerial Risk Taking”, Acad. Manage. Rev., vol. 23, núm. 1, p. 133, ene. 1998, doi: 10.2307/259103
R. Yin, Case study research: Design and methods, vol. 3. SAGE Publications, 2003
Secretaría de Gobernación, "Acuerdo por el que se suspenden las clases en las escuelas de educación preescolar, primaria, secundaria, normal y demás para la formación de maestros de educación básica del Sistema Educativo Nacional, así como aquellas de los tipos medio superior y superior dependientes de la Secretaría de Educación Pública". 2020
T. Morgan, S. Anokhin, L. Ofstein, y W. Friske, “SME response to major exogenous shocks: The bright and dark sides of business model pivoting”, Int. Small Bus. J., vol. 38, núm. 5, pp. 369–379, ago. 2020, doi: 10.1177/0266242620936590
T. Zellweger, K. Eddleston, y F. Kellermanns, “Exploring the concept of familiness: Introducing family firm identity”, J. Fam. Bus. Strategy, vol. 1, pp. 54–63, 2010, doi: 10.1016/J.JFBS.2009.12.003
T. Zellweger, Managing the Family Business. Theory and Practice. Cheltenham, Uk. Northampton, MA, USA: Edward Elgar, 2017. Consultado: jul. 10, 2021. [En línea]. Disponible en: https://0edsbebscohostcom.bibliotecails.tec.mx/eds/ebookviewer/ebook/bmxlYmtfXzE4MTUxMThfX0FO0?sid=bf6f05034fc64103a1e78f4e56962a32@sessionmgr102&vid=1&format=EB
V. Weimann, M. Gerken, y M. Hülsbeck, “Business model innovation in family firms: dynamic capabilities and the moderating role of socioemotional wealth”, J. Bus. Econ., vol. 90, núm. 3, pp. 369–399, abr. 2020, doi: 10.1007/s11573-019-00958-x
The COVID-19 pandemic is a major exogenous shock that generates vulnerability in various economic sectors. The objective of this research is to explore the presence, preservation, and influence of the socioemotional wealth of family business model innovation in civil organizations made for education managed by families facing the exogenous shock that is the COVID-19 pandemic, with the purpose of generating empirical evidence of the variations in the organizational and normative routines of the family business model and understanding what the abrupt change represents in the family’s system of organization. To achieve this goal, case study qualitative research was used, through a semi-structured interview based on the taxonomy of the conceptual model of the theoretical framework, which allowed the phenomenon to be explored in chronological depth within the contemporary context. The results showed that, faced with the vulnerability that comes with exogenous shocks, the school presented innovations that were shown in the firm’s value offering, firm’s revenue model, and in the firm’s value creation architecture. Empirical evidence of the presence of norms loaded with socioemotional wealth that establish the control and achievement of the family goals within the business model innovation was also shown. Finally, the presence and preservation of the socioemotional wealth within the civil organization was found. It is concluded that permeating family values in the organization encourages the identification of family members, as well as other organizations and parents, with the company. The latter consider their homes to be an extension of the school, and they were sensitized to understand that not investing in their children’s initial education can negatively impact their language, psychomotor development, and socialization.
A. Osterwalder y Y. Pigneur, Business Model Generation: a handbook for visionaries, game changers, and challengers., 1a ed. John Wiley & Sons,
A. Osterwalder, Y. Pigneur, y C. L. Tucci, “Clarifying Business Models: Origins, Present, and Future of the Concept”, Commun. Assoc. Inf. Syst., vol. 16, 2005, doi: 10.17705/1CAIS.01601
C. Decker, K. Heinrichs, P. Jaskiewicz, y S. Rau, “What do we know about succession in family businesses? Mapping Current knowledge and unexplored territory.”, en The Routledge Companion to Family Business, Routledge, 2017
D. J. Teece, “Business Models, Business Strategy and Innovation”, Long Range Plann., vol. 43, núm. 2, pp. 172–194, abr. 2010, doi: 10.1016/j.lrp.2009.07.003
D. Weismeier-Sammer, “The role of familiness for family business innovativeness”, Int. J. Entrep. Ventur., vol. 6, núm. 2, pp. 101–117, ene. 2014, doi: 10.1504/IJEV.2014.062747
E. Ries, El método Lean Startup: Cómo crear empresas de éxito utilizando la innovación continua. Grupo Planeta Spain, 2012.
F. Hernández-Perlines, J. Moreno-Garcia, y B. Yáñez-Araque, “The influence of socioemotional wealth in the entrepreneurial orientation of family businesses”, Int. Entrep. Manag. J., vol. 15, pp. 523–544, 2019, doi: 10.1007/S11365-019-00561-0
G. Vanoni y M. P. Brito, Empresas familiares: diagnóstico estratégico para la toma de decisiones. Universidad Internacional del Ecuador, Guayaquil, 2018
H. Shen, M. Fu, H. Pan, Z. Yu, y Y. Chen, “The Impact of the COVID-19 Pandemic on Firm Performance”, Emerg. Mark. Finance Trade, vol. 56, núm. 10, pp. 2213–2230, ago. 2020, doi: 10.1080/1540496X.2020.1785863
H. Xiong, Z. Wu, F. Hou, y J. Zhang, “Which Firm-specific Characteristics Affect the Market Reaction of Chinese Listed Companies to the COVID-19 Pandemic?”, Emerg. Mark. Finance Trade, vol. 56, núm. 10, pp. 2231–2242, 08 2020, doi: 10.1080/1540496X.2020.1787151
J. Creswell, W. Hanson, V. Clark, y A. Morales, “Qualitative Research Designs: Selection and Implementation.”, The Counseling Psychologist, pp. 236–264, 2007, doi: 10.1177/0011000006287390
J. Mendoza, M. Hernánez, y B. Salazar, “Structural, Psychological, and Socioemotional Factors That Determine Innovation Decisions in Family Firm”, en Handbook of Research on the Strategic Management of Family Business, 2020
J. Magretta, “Why Business Models Matter”, Harv. Bus. Rev., vol. 80, núm. 5, pp. 86–92, may 2002, Consultado: ago. 05, 2021. [En línea]. Disponible en: http://0search.ebscohost.com.bibliotecails.tec.mx/login.aspx?direct=true&db=b su&AN=6623782&lang=es&site=ehostlive
J. Mason, Qualitative Researching. SAGE, 2017
L. Gómez-Mejía, P. Pankaj, y T. Zellweger, “In the Horns of the Dilemma: Socioemotional Wealth, Financial Wealth, and Acquisitions in Family Firms.”, Journal of Management, vol. 44, núm. 4, pp. 1369–1397, 2018, Consultado: jul. 10, 2021. [En línea]. Disponible en: https://journals.sagepub.com/doi/abs/10.1177/0149206315614375
L. Gomez-Mejia, R. Basco, A. C. Gonzalez, y C. G. Muller, “Family business and local development in Iberoamerica”, Cross Cult. Strateg. Manag., vol. 27, núm. 2, pp. 121–136, ene. 2020, doi: 10.1108/CCSM-02-2020-223
L. R. Gómez-Mejía, K. T. Haynes, M. Núñez-Nickel, K. J. L. Jacobson, y J. Moyano-Fuentes, “Socioemotional Wealth and Business Risks in Familycontrolled Firms: Evidence from Spanish Olive Oil Mills”, Adm. Sci. Q., vol. 52, núm. 1, pp. 106–137, mar. 2007, doi: 10.2189/asqu.52.1.106
K. Brigham y G. T. Payne, “Socioemotional Wealth (SEW): Questions on Construct Validity”, Fam. Bus. Rev., vol. 32, pp. 326–329, dic. 2019, doi: 10.1177/0894486519889402.
M. W. Johnson, C. M. Christensen, y H. Kagermann, “Reinventing Your Business Model. (cover story)”, Harv. Bus. Rev., vol. 86, núm. 12, pp. 50–59, dic. 2008, Consultado: jul. 31, 2021. [En línea]. Disponible en: http://0-search.ebscohost.com.biblioteca-ils.tec.mx/login.aspx?direct=true&db=bsu&AN=35386627&lang=es&site=ehost-live
M. W. Johnson y A. G. Lafley, Seizing the White Space: Business Model Innovation for Growth and Renewal. Harvard Business Press, 2010
O. Llanos-Contreras, M. Jabri, y P. Sharma, “Temporality and the role of shocks in explaining changes in socioemotional wealth and entrepreneurial orientation of small and medium family enterprises”, Int. Entrep. Manag. J., vol. 15, núm. 4, pp. 1269–1289, dic. 2019, doi: 10.1007/s11365-019-00595-4
P. Berrone, C. Cruz, y L. R. Gomez-Mejia, “Socioemotional Wealth in Family Firms: Theoretical Dimensions, Assessment Approaches, and Agenda for Future Research”, Fam. Bus. Rev., vol. 25, núm. 3, pp. 258–279, sep. 2012, doi: 10.1177/0894486511435355
P. Spieth y S. Schneider, “Business model innovativeness: designing a formative measure for business model innovation”, J. Bus. Econ., vol. 86, núm. 6, pp. 671–696, ago. 2016, doi: 10.1007/s11573-015-0794-0
R. M. Wiseman y L. R. Gomez-Mejia, “A Behavioral Agency Model of Managerial Risk Taking”, Acad. Manage. Rev., vol. 23, núm. 1, p. 133, ene. 1998, doi: 10.2307/259103
R. Yin, Case study research: Design and methods, vol. 3. SAGE Publications, 2003
Secretaría de Gobernación, "Acuerdo por el que se suspenden las clases en las escuelas de educación preescolar, primaria, secundaria, normal y demás para la formación de maestros de educación básica del Sistema Educativo Nacional, así como aquellas de los tipos medio superior y superior dependientes de la Secretaría de Educación Pública". 2020
T. Morgan, S. Anokhin, L. Ofstein, y W. Friske, “SME response to major exogenous shocks: The bright and dark sides of business model pivoting”, Int. Small Bus. J., vol. 38, núm. 5, pp. 369–379, ago. 2020, doi: 10.1177/0266242620936590
T. Zellweger, K. Eddleston, y F. Kellermanns, “Exploring the concept of familiness: Introducing family firm identity”, J. Fam. Bus. Strategy, vol. 1, pp. 54–63, 2010, doi: 10.1016/J.JFBS.2009.12.003
T. Zellweger, Managing the Family Business. Theory and Practice. Cheltenham, Uk. Northampton, MA, USA: Edward Elgar, 2017. Consultado: jul. 10, 2021. [En línea]. Disponible en: https://0edsbebscohostcom.bibliotecails.tec.mx/eds/ebookviewer/ebook/bmxlYmtfXzE4MTUxMThfX0FO0?sid=bf6f05034fc64103a1e78f4e56962a32@sessionmgr102&vid=1&format=EB
V. Weimann, M. Gerken, y M. Hülsbeck, “Business model innovation in family firms: dynamic capabilities and the moderating role of socioemotional wealth”, J. Bus. Econ., vol. 90, núm. 3, pp. 369–399, abr. 2020, doi: 10.1007/s11573-019-00958-x