Recently, studies also prove that many family-owned businesses have merged with some global peers, and many have entered into knowledge-sharing partnerships to enable them to be intellectually at par with their competitors (Susanto and Susanto, 2013). This again drives them to be motivated to keep innovating and remain competitive. The family-owned businesses were able to compete with global peers due to the easier implementation of its operational flexibility and ability to take decisions faster. In addition, they were able to include changing their strategic course in the middle because of less hierarchical issues in decision making (Clegg, Redding and Cartner, 1990). This distinctive advantage of family businesses compared with modern corporate gave them a boost of implementing change through innovative research of new products.
The ownership of the administrative heritage of these businesses makes them want to creatively manage the innovation procedures and its implementation. Chandler and Hikino (1990) adds that this administrative heritage of having sustained their motivation to store wealth, spend more on offspring training, and sometimes tends to have less capital for business expenses. The drive for innovation may not be as successful as of the corporate due to insufficient capital (Chen, 2001), and lack of quality manpower but their sustenance in attempting innovative measures is never doubted because these businesses have deep pockets for investments, and have relied less on debt and more on internal accruals (Redding, 1990). The drive for innovation then becomes an organisational culture, but has less support in terms of outright capital, global technology, and talent manpower for implementing the innovative change.
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