Strategic renewal in a mature family-owned company – A resource role of the owners

In spite of the high failure rates of later-generation family companies, the research on family firm strategic renewals has been limited. The role of the owners in these situations, in particular, remains underexplored. We address this research gap and suggest that the owners of a family firm can take an active resource role in triggering and supporting change, and by balancing the disruption through bridging the firm's new direction with the...