Family Business Transformation

Family businesses play a pivotal role in the global economy, and their successful development is of utmost importance. This first volume of the Contemporary Issues in Family Business Entrepreneurship series, focuses on the topic of family business transformation, which is causing drastic changes in companies' strategies and business models.

Decisions to adapt or change family business strategy and/or the business model are always associated with risk. Family Business Transformation integrates work on the broad topics of transformation, strategy development, business model development, with the study of family businesses to provide family business owners, managers and entrepreneurs much-needed recommendations from best practice examples and/or empirical findings that can support decision-making in regard to the future direction of their companies.

This book calls for a specialized examination of the social interactions among stakeholders, substantially expanding classical management theory. Scholars of family business, entrepreneurship and strategic management, institutional libraries and postgraduate students will find it an essential read and benefit from its insights.

Prof. (FH) Mag. Dr. Stefan Märk is Programme Manager and Professor at the University of Applied Sciences Salzburg (Campus Puch/Urstein), Austria. Combining academic and private sector knowledge (having worked as a family business coach), he started to delve deeper into the world of SMEs blended with a focus on family businesses: especially their threefold 'Family-Business-Ownership' emphasis. In addition to his academic activities, he also works in the world of new learning approaches, with a special view on the combination of blending learning and the learning possibilities of organizations.

Prof. (FH) Dr. Dr. Mario Situm is Director of Studies and Professor at the University of Applied Sciences Kufstein, where he is active in research and teaching. His research focuses on the early detection of corporate crises, corporate finance, risk management and family businesses. In addition to his previous activities in the financial services and real estate industry, he worked for several years in the banking sector, most recently in a managerial role and as an account manager for key accounts and special financing. He also works as an independent consultant and supports small and medium-sized companies in the implementation of a wide range of business management topics. He is an editorial board member and reviewer for various international trade journals.