One of the main characteristics of family businesses lies in their owners' pursuit of financial and non-financial utility. One core dimension of non-financial utility is emotional attachment. However, we know little about the role of emotional attachment in shaping the owners' divestment or reinvestment decisions in volatile, uncertain and ambiguous environments. Based on an in-depth case study of a displaced agricultural family that lost its business in Colombia, we investigate the role of family members' perceived emotional attachment and financial utility in shaping their strategic decisions. Our findings broaden the notion of emotional attachment to comprise the family, the former family business, and the land, identifying six utility patterns. These patterns capture combinations of perceived emotional attachment and financial utility. We label these patterns hybrid family, family control, family splitting, entrepreneurial family, family safety and accommodating family utility, and find that they play a crucial role in each family member's preference for divestment and/or reinvestment decisions. The experience of trauma influenced two utility patterns favoured by women. This article contributes to the family business literature by advancing our knowledge of utility combinations transcending generations and ownership statuses in their preferred divestment and reinvestment decisions.

Family can play various roles in the entrepreneurial process of migrants; yet the literature tends to consider family as a homogeneous unit. In reality, families comprise different structures ranging from a nuclear family to an extended family. Furthermore, given that migrant entrepreneurs may have family in their countries of origin as well as often in their countries of residence, we should consider that the notion of family and its influence can vary from one country to another. In this chapter, we aim to better understand the role of family heterogeneity in starting a new venture by migrant entrepreneurs by looking into family functions. We address the following research questions: (i) What family functions are present in the countries of origin and residence in the process of migrant entrepreneurs starting a new venture and (ii) How do such functions facilitate or hinder the new venture? The chapter proposes three family functions - or family ways of working - that facilitate the new venture-creation process: (i) changing family responsibilities; (ii) family acting as a catalyser; and (iii) family acting as bedrock. These functions are not static features; they are processes influencing the venture-creation process. Family functions change as needed during the venture-creation process. Such changes, however, are limited to the pool of resources available to the migrant entrepreneur and his or her family in the countries of origin and residence.

In this entry, we argue that the understanding and conceptualization of next generation requires a closer examination of the following questions: Who might be included in the next generation? How does a person become seen as part of the next generation? When does a person become part of the next generation? We outline basic categories for each of the three questions, with the aim of bettering our understanding of these questions and indicate why they matter. We conclude that the combination of family-internal factors and the increased societal relevance of the family business accentuate the sense of purpose and broaden the domain of action of the next generation. Therefore, the question of the next generation’s success in the future affairs of the family business and the future development of the societies is a significant quest in our understanding of the next generation.

A circular economy (CE) addresses the shift in economic systems from an unsustainable linear approach to a sustainable circular approach through start-ups and entrepreneurial ecosystems (EE). A single level of focus on CE research limits an understanding of the mechanisms fostering a transition towards CE. We conduct a systematic review of the macro-meso-micro interconnections between start-ups and EE in CE using bibliometric and content analyses to scope the literature without time boundaries. This exercise led to 90 articles from the Web of Science and Scopus databases. We contribute to literature on entrepreneurship and CE by building an integrative multi-level framework linked to the just and safe planetary boundaries by bridging macro-level explanations (public policies, regulations and infrastructure) and the meso-level (circular supply chains and circular ecosystems) and micro-level (circular start-ups and circular business models). The framework highlights social and environmental sustainability challenges, and just and safe close-loop production patterns.

Increased awareness about the climate emergency, social and environmental inequalities, and ecological degradation influence the adoption of sustainability by business groups worldwide, including business groups owned by family. The owning families of business groups develop awareness and strategies to pursue ecological, social, and ethical opportunities. Research at the interface of family, business groups, and corporate sustainability is important to advance our understanding of the owning family’s influence on the sustainability approaches of the business group. Thus, in this chapter, we develop a conceptual framework that examines the commitment, control, and continuity of the owning family to its business group’s global corporate sustainability. We merge literature on family business, corporate sustainability, and sustainability science and develop a sustainability embeddedness perspective. Our proposed conceptual model on sustainability embeddedness offers insights to better understand diverse degrees and forms of involvement of the owning family leading to a variety of sustainability strategies, processes, and practices.

This chapter has three purposes: First, to briefly outline corporate venturing as a sub-field in corporate entrepreneurship that recently has gained prominence in research on family-owned businesses (FOB); second, to highlight the missing social dimension in research on FOB that focuses on corporate venturing, conceptualize this added social dimension as corporate social venturing (CSV), and to empirically illustrate CSV with well-known Mexican FOB engaged in CSV; and third, to propose an agenda for researching CSV done by FOB.

This chapter delineates how entrepreneurial families can build engagement through entrepreneurship by developing or investing in new sustainable ventures. Sustainable ventures strive for the dignity and long-term survival of our planet. They are out most important since human activities affect the life and balance of social-ecological systems on our planet. We thereby propose that engagement is essential for capturing the opportunities for sustainable venturing that emerge in interactions and connections between individuals, family, business and the earth's biosphere. Such engagement facilitates the development of a business purpose that includes and goes beyond financial profits. We connect insights from the family entrepreneurship literature with those from the sustainability literature and suggest three sustainable venturing processes that can help develop engagement with entrepreneurship in the business family. We call these processes igniting family entrepreneurship through sustainability; interplaying between family entrepreneurship and a purpose for sustainability; and interfacing between family entrepreneurship and sustainability. Through these processes, we argue that sustainability provides an opportunity of involving different generations and branches of a family to build commitment around a purpose, and shared values and principles in new sustainable ventures that stretch beyond the traditional financial goals of the business.