Entrepreneurial Decision-Making in Family-Owned Businesses: Balancing Family Dynamics, Legacy Concerns, and Market Pressures

DOI

10.2991/978-2-38476-470-9_10How to use a DOI?

Keywords

Family-owned businesses; entrepreneurial decision-making; family dynamics; legacy concerns; succession planning; family business governance; market pressures; strategic decision-making; business sustainability; professional management

Abstract

This study investigates the decision-making processes within family-owned businesses, with a particular focus on the interplay between family dynamics, legacy concerns, and market pressures. Drawing on a conceptual framework that integrates theories of family business governance, succession planning, and market adaptation, the research explores how family firms make strategic decisions that affect their long-term sustainability and growth. Findings suggest that family dynamics significantly influence decision-making, particularly in areas like leadership succession and innovation. Legacy concerns often create tension between maintaining family control and adapting to changing market conditions. The study further examines the role of professional management and governance structures in navigating these challenges. Theoretical contributions extend existing models of entrepreneurial decision-making, offering new insights into the unique challenges family businesses face in balancing family-driven goals with market demands. The practical implications provide guidance for family business owners on effective succession planning, governance, and the professionalization of management to ensure long-term success.

Copyright

© 2025 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Ai-Van Huynh
AU  - Minh Hieu Vo
PY  - 2025
DA  - 2025/10/16
TI  - Entrepreneurial Decision-Making in Family-Owned Businesses: Balancing Family Dynamics, Legacy Concerns, and Market Pressures
BT  - Proceedings of the International Conference on Contemporary Studies in Social Sciences (ICSSSS 2025)
PB  - Atlantis Press
SP  - 109
EP  - 121
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-470-9_10
DO  - 10.2991/978-2-38476-470-9_10
ID  - Huynh2025
ER  -