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Publication
Strategic responses of the family businesses in accommodation industry: lessons for overcoming crises
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Advisor(s)
Abstract(s)
Purpose – The purpose of this study is threefold: 1) to examine the relevance of specific strategic orientations
for family businesses in the context of an intense crisis such as the COVID-19 pandemic; 2) to investigate the
role of a family adaptability in surviving the crisis; and 3) to assess how proactive strategic responses
connected with marketing or retrenchment responses connected with reducing costs relate to the expected
survival of the crisis.
Design/methodology/approach – The method adopted is a quantitative research approach. The theoretical
framework uses a partial least squares structural equation modeling (PLS-SEM) for the data collected from an
online survey of a sample of 544 family businesses in the accommodation industry.
Findings – This paper makes three main findings. First, family businesses that invest in operational marketing
actions as a strategic response to the crisis have a high expectation of surviving the crisis. Second, family
businesses that reduce their operational and labor costs as a strategic response have a low expectation of surviving
the crisis. Third, the family business’s adaptability is also fundamental to their expectation of survival.
Originality/value – This is the first paper to identify the possible reactions of family businesses to the
COVID-19 crisis. the authors show that there are proactive or retrenchment strategic responses, and the
authors relate those responses to the expectancy of surviving the crisis. This is also the first study to examine
the relevance of family adaptability as a measure of the resilience of family businesses and, therefore, as a
determinant of the expectation of surviving the crisis.
Description
This work was supported by National Funds of the FCT – Portuguese Foundation for Science and
Technology within the projects UIDB/04928/2020 and UIDB/SOC/04521/2020.
Keywords
Strategic orientations Family business Family adaptability Strategic responses Crisis survival
Pedagogical Context
Citation
Crespo, N. F., Crespo, C. F., & Calado, M. (2023). Strategic responses of the family businesses in accommodation industry: lessons for overcoming crises. Journal of Family Business Management, 13(1), 118-145–145. https://doi.org/10.1108/JFBM-03-2022-0045
Publisher
Emerald