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Developing Capabilities for Sustainability in Family Small Enterprises: An Emerging Market Scenario

Developing Capabilities for Sustainability in Family Small Enterprises: An Emerging Market Scenario
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Author(s): Ben Akume (Federal College of Education, Asaba, Nigeria) and Osarumwense Iguisi (Department of Business Administration, Faculty of Management Sciences, University of Benin, Benin City, Nigeria)
Copyright: 2022
Pages: 18
Source title: Research Anthology on Strategies for Maintaining Successful Family Firms
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-6684-3550-2.ch026

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Abstract

Though literature in family perpetuity and sustainability is well documented from the advanced economies, there is scarcity of insights from emerging markets where this research relates. The study, therefore, sought to investigate, understand, and interpret the underlying drivers of sustainability in small family businesses using the stewardship theory paradigm in the Nigerian family business environment. A qualitative method with 41 in-depth interviews involving owners and managers of family-owned small and medium businesses was conducted. The study empirically shows that there is an interrelationship between family structure and business sustainability; hence, the practice of polygamy was found to be inimical to family business success and sustainability. Building on the stewardship theory, the paper develops a model of sustainability for small and medium family businesses. The study contributes to the theoretical literature on stewardship and family business sustainability.

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