Different Crises in Family SMEs and How to Prepare for Them
2022 (English)In: Crisis Management for Small and Medium-Sized Enterprises (SMEs): Strategies for External Crises / [ed] Susanne Durst; Thomas Henschel, Cham: Springer , 2022, 1, p. 101-117Chapter in book (Refereed)
Abstract [en]
In this chapter, we discuss and analyse how family SMEs can prepare for crises originating in different areas. In specific, we discuss how family SMEs can prepare for crises originating in the family, the firm and the environment. There is an overlap in family SMEs, which implies that it is necessary to account for all three areas in a crisis situation. All three dimensions can be the origin for a crisis and part of a solution to handling the crisis. In the following, we discuss each dimension in detail with regard to crisis management in family SMEs. The study offers advice for family SMEs facing a crisis situation caused by internal causes, business or family-induced. Family SMEs should prepare themselves well in advance—with crisis management—to face severe shocks, and not just react under stress. This leads to a more proactive crisis management approach.
Place, publisher, year, edition, pages
Cham: Springer , 2022, 1. p. 101-117
Series
Management for Professionals, ISSN 2192-8096, E-ISSN 2192-810X
Keywords [en]
Family firm, Family SME, Crisis, Ownership, Risk management, Crisis management
National Category
Social Sciences Business Administration
Research subject
Strategic Entrepreneurship
Identifiers
URN: urn:nbn:se:his:diva-14019DOI: 10.1007/978-3-030-91727-2_8ISBN: 978-3-030-91726-5 (print)ISBN: 978-3-030-91729-6 (print)ISBN: 978-3-030-91727-2 (electronic)OAI: oai:DiVA.org:his-14019DiVA, id: diva2:29423
Note
Springer, Cham
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2022
2022-03-242022-09-15