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Strategic responses of the family businesses in accommodation industry: lessons for overcoming crises

dc.contributor.authorCrespo, Nuno Fernandes
dc.contributor.authorCrespo, Cátia Fernandes
dc.contributor.authorCalado, Maria
dc.date.accessioned2023-12-06T16:55:05Z
dc.date.available2023-12-06T16:55:05Z
dc.date.issued2023-03
dc.descriptionThis 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.pt_PT
dc.description.abstractPurpose – 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.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.citationCrespo, 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-03-2022-0045pt_PT
dc.identifier.doihttps://doi.org/10.1108/JFBM-03-2022-0045pt_PT
dc.identifier.eissn2043-6246
dc.identifier.issn2043-6238
dc.identifier.urihttp://hdl.handle.net/10400.8/9006
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherEmeraldpt_PT
dc.relationCentre of Applied Research in Management and Economics
dc.relationCSG - Research in Social Sciences and Management
dc.relation.publisherversionhttps://www.emerald.com/insight/content/doi/10.1108/JFBM-03-2022-0045/full/htmlpt_PT
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/pt_PT
dc.subjectStrategic orientationspt_PT
dc.subjectFamily businesspt_PT
dc.subjectFamily adaptabilitypt_PT
dc.subjectStrategic responsespt_PT
dc.subjectCrisis survivalpt_PT
dc.titleStrategic responses of the family businesses in accommodation industry: lessons for overcoming crisespt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.awardTitleCentre of Applied Research in Management and Economics
oaire.awardTitleCSG - Research in Social Sciences and Management
oaire.awardURIinfo:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UIDB%2F04928%2F2020/PT
oaire.awardURIinfo:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UIDB%2F04521%2F2020/PT
oaire.citation.endPage145pt_PT
oaire.citation.issue1pt_PT
oaire.citation.startPage118pt_PT
oaire.citation.titleJournal of Family Business Managementpt_PT
oaire.citation.volume13pt_PT
oaire.fundingStream6817 - DCRRNI ID
oaire.fundingStream6817 - DCRRNI ID
person.familyNameCrespo
person.givenNameCátia Fernandes
person.identifier.ciencia-id0615-6420-EC94
person.identifier.orcid0000-0003-2886-7370
person.identifier.scopus-author-id56072058400
project.funder.identifierhttp://doi.org/10.13039/501100001871
project.funder.identifierhttp://doi.org/10.13039/501100001871
project.funder.nameFundação para a Ciência e a Tecnologia
project.funder.nameFundação para a Ciência e a Tecnologia
rcaap.rightsclosedAccesspt_PT
rcaap.typearticlept_PT
relation.isAuthorOfPublication99788e3e-3e04-4f90-a511-7ee6c6f2dd78
relation.isAuthorOfPublication.latestForDiscovery99788e3e-3e04-4f90-a511-7ee6c6f2dd78
relation.isProjectOfPublication4c5aa29d-4b03-4713-8f40-08b3bbfd88d7
relation.isProjectOfPublication593289e8-4fe0-463d-b65a-67d757af2049
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