TY - JOUR
T1 - Strategic Consistency of Exploration and Exploitation in Family Businesses
AU - Moss, Todd W.
AU - Payne, G. Tyge
AU - Moore, Curt B.
PY - 2014/3
Y1 - 2014/3
N2 - This study advances family business research by examining how the strategic consistency with which family businesses pursue exploration and exploitation initiatives affects performance. Using panel data of 94 family businesses operating in four high-tech industries over 12 years, we find that higher strategic consistency-continuity with past exploration and exploitation strategies stemming from managerial intentionality-yields higher levels of performance. This relationship is also moderated by environmental dynamism, munificence, and organizational size, which demonstrates the contingent and complex nature of the main relationship. Furthermore, in contrast to 113 nonfamily businesses, we find that the main relationship is stronger for family businesses.
AB - This study advances family business research by examining how the strategic consistency with which family businesses pursue exploration and exploitation initiatives affects performance. Using panel data of 94 family businesses operating in four high-tech industries over 12 years, we find that higher strategic consistency-continuity with past exploration and exploitation strategies stemming from managerial intentionality-yields higher levels of performance. This relationship is also moderated by environmental dynamism, munificence, and organizational size, which demonstrates the contingent and complex nature of the main relationship. Furthermore, in contrast to 113 nonfamily businesses, we find that the main relationship is stronger for family businesses.
KW - exploration and exploitation
KW - performance
KW - strategic consistency
UR - http://www.scopus.com/inward/record.url?scp=84893554795&partnerID=8YFLogxK
U2 - 10.1177/0894486513504434
DO - 10.1177/0894486513504434
M3 - Article
AN - SCOPUS:84893554795
SN - 0894-4865
VL - 27
SP - 51
EP - 71
JO - Family Business Review
JF - Family Business Review
IS - 1
ER -