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The Convergence: Entrepreneurial Essence

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Entrepreneurial Essence in Family Businesses

Part of the book series: International Series in Advanced Management Studies ((ISAMS))

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Abstract

The fourth chapter leveraged on the findings of the previous two (Entrepreneurial Virtues and the Entrepreneurial Family continuity model) adding a third element (assets) to converge to the Entrepreneurial Essence model. How companies are made of assets created by entrepreneurial processes that arise from the rare entrepreneurial virtues will be explained. These three elements: rare qualities, entrepreneurial processes and assets are the elements of the Entrepreneurial Essence which is created by a founder and must be protected and evolved by the following Entrepreneurial Family leaders. The evolution happens through a continuous innovation leveraging traditional processes.

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Notes

  1. 1.

    Alfred Dupont Chandler, The Visible Hand: The Managerial Revolution in American Business, Belknap Press, 1977.

  2. 2.

    Eugene F Fama, Agency Problems and the Theory of the Firm, The journal of political economy, 1980.

  3. 3.

    Annika Hall, Mattias Nordqvist, Professional Management in Family Businesses: Toward an Extended Understanding, Family Business Review, vol. XXI, no. 1, March 2008.

  4. 4.

    Alfred Dupont Chandler, The Visible Hand: The Managerial Revolution in American Business, Belknap Press, 1977, p. 493.

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Authors and Affiliations

  1. University of Turin, Torino, Italy

    Bernardo Bertoldi

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  1. Bernardo Bertoldi
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Bertoldi, B. (2021). The Convergence: Entrepreneurial Essence. In: Entrepreneurial Essence in Family Businesses. International Series in Advanced Management Studies. Springer, Cham. https://doi.org/10.1007/978-3-030-63742-2_4

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