Document Type : Original Article
Authors
1
PhD .student of Corporate Entrepreneurship, Faculty of Entrepreneurship, University of Tehran, Iran
2
Professor, Department of New Business, Faculty of Entrepreneurship, University of Tehran
3
Associate Professor Department of Corporate Entrepreneurship, Faculty of Entrepreneurship, University of Tehran
4
Professor Department of Corporate Entrepreneurship, Faculty of Entrepreneurship, University of Tehran
10.22034/jmek.2024.460765.1135
Abstract
Business model innovation (BMI) considered as a firm's rationale for seeking, creating and delivering new value. Creating value in family firms considered a challenge, especially with the entry of G2. It is important to identify the obstacles and solutions to the challenges in the value creation process. This research identifies the barriers and solutions from three aspects of firm and management of first generation (G1), entry of second generation (G2), and co-creating the value.
To investigate the above relationships, a case study method used from 15 firms with 65 semi-structured interviews with G1 and G2 and experts. First, the interview protocol designed by reviewing the literature, the interview conducted, the resulting data analyzed using coding methods, and the results explained in a framework.
Creating a common vision, solving conflicts with interaction, exchanging knowledge, generating ideas, cooperation and trust between two generations recognized as solutions for value co-creation. In the field of firm and management of G1, the factors of reducing the risk aversion of G1, motivating, creating flexibility in G1, transferring management to the G2 and creating an innovative vision recognized as important solutions. Accepting active G2 in the firm, motivating and empowering the passive G2 to enter the firm, trusting the ideas of G2 recognized as the solutions resulting from the entry of G2.
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