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Sustainable family business

Sustainable family business Family centered non-economic (FCNE) goals, such as environmental and social goals, are sometimes strenuous to “sell” to non-family members in a family business, and are often open to resistance. The purpose of this paper is to identify socio-psychological mechanisms for achieving FCNE goals because, in addition to economic goals, they are the other two components of the triple bottom line.Design/methodology/approachThrough a juxtaposition of the literature on family businesses, and the theories of mindfulness and psychological ownership, this paper argues for the facilitating roles of family involvement and mindful organizing in the achievement of FCNE goals. An example of how a Kuwaiti oil company implements these ideas is appended.FindingsA moderated link between family involvement, mindful organizing and FCNE goal of environmental sustainability. Besides its direct effect on environmental sustainability, mindful organizing also has a potential mediating role in the relationship between family involvement and environmental sustainability. Psychological ownership, environmental sensitivity and individual mindfulness will moderate the relationship between mindful organizing and the achievement of environmental sustainability goals.Research limitations/implicationsThe paper presents ten propositions and argues that three types of family involvement (ownership, management and inter-generational), together with non-family engagement (through mindful organizing) would lead to success in achieving the FCNE goal of environmental sustainability. Psychological ownership, environmental sensitivity and individual mindfulness are potential moderators.Practical implicationsThe paper suggests some key drivers of FCNE goal of environmental sustainability as well as several contingent factors. Applicable to family businesses, owners and/or managers of similar firms can apply knowledge from this study in the pursuit of environmental sustainability.Originality/valueThe paper’s model advances the current understanding of the link between family involvement, mindful organizing, environmental sustainability, psychological ownership, environmental sensitivity and individual mindfulness in the context of family business. The paper further suggests new future research directions. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Manpower Emerald Publishing

Sustainable family business

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References (63)

Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
0143-7720
DOI
10.1108/ijm-08-2019-0359
Publisher site
See Article on Publisher Site

Abstract

Family centered non-economic (FCNE) goals, such as environmental and social goals, are sometimes strenuous to “sell” to non-family members in a family business, and are often open to resistance. The purpose of this paper is to identify socio-psychological mechanisms for achieving FCNE goals because, in addition to economic goals, they are the other two components of the triple bottom line.Design/methodology/approachThrough a juxtaposition of the literature on family businesses, and the theories of mindfulness and psychological ownership, this paper argues for the facilitating roles of family involvement and mindful organizing in the achievement of FCNE goals. An example of how a Kuwaiti oil company implements these ideas is appended.FindingsA moderated link between family involvement, mindful organizing and FCNE goal of environmental sustainability. Besides its direct effect on environmental sustainability, mindful organizing also has a potential mediating role in the relationship between family involvement and environmental sustainability. Psychological ownership, environmental sensitivity and individual mindfulness will moderate the relationship between mindful organizing and the achievement of environmental sustainability goals.Research limitations/implicationsThe paper presents ten propositions and argues that three types of family involvement (ownership, management and inter-generational), together with non-family engagement (through mindful organizing) would lead to success in achieving the FCNE goal of environmental sustainability. Psychological ownership, environmental sensitivity and individual mindfulness are potential moderators.Practical implicationsThe paper suggests some key drivers of FCNE goal of environmental sustainability as well as several contingent factors. Applicable to family businesses, owners and/or managers of similar firms can apply knowledge from this study in the pursuit of environmental sustainability.Originality/valueThe paper’s model advances the current understanding of the link between family involvement, mindful organizing, environmental sustainability, psychological ownership, environmental sensitivity and individual mindfulness in the context of family business. The paper further suggests new future research directions.

Journal

International Journal of Manpower – Emerald Publishing

Published: Nov 21, 2020

Keywords: Psychological ownership; Sustainability; Family involvement; 3BL; Family centered non-economic goals; Mindful organizing; Sustainable family business

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