Publication Type
Journal Article
Version
publishedVersion
Publication Date
12-2019
Abstract
Family businesses play an important role in the growth of global economy, and while they are arguably perceived as a conservative form of organization with high risk aversion and reluctance to change, counterintuitive empirical evidence show that they are most effective in ideation and commercialization of innovation projects. In the current business environment of rapid change in work patterns, fast adoption of enabling technologies for seamless collaborations across industry and geography, along with intense competition and high uncertainty, enterprises have no choice but to maximize returns on innovation investments. Therefore, they are increasingly dependent on an ecosystem-based approach to innovation management, which has shown greater likelihood to create radical innovations and enable profit generation. The objective of this paper is to analyse determinants of open innovation practices in family-owned enterprises in consideration of the joint effect of in-company enablers and external factors. Drawing on a sample of 33 Singapore based family-owned firms, our findings confirmed the key drivers such as family and business culture, access to external funds, government supported initiatives, market dynamics, partnership, network, family capital, and external network. Managerial implications about the necessity to leverage both environmental determinants and internal innovation capabilities to foster novel business ideas are also highlighted in the conclusion of the paper.
Keywords
Asia-Pacific, Family Business, Innovation Determinants, Open Innovation, Tradition in Innovation
Discipline
Asian Studies | Entrepreneurial and Small Business Operations | Technology and Innovation
Research Areas
Finance
Publication
European Journal of Family Business
Volume
99
Issue
2
First Page
85
Last Page
101
ISSN
2444-8788
Identifier
10.24310/ejfbejfb.v9i2.5678
Publisher
Universidad de Málaga
Embargo Period
2-12-2025
Citation
KOH, Annie; KONG, Esther; and TIMPERIO, Giuseppe.
An analysis of open innovation determinants: The case study of Singapore based family owned enterprises. (2019). European Journal of Family Business. 99, (2), 85-101.
Available at: https://ink.library.smu.edu.sg/lkcsb_research/7673
Copyright Owner and License
Authors
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-Share Alike 4.0 International License.
Additional URL
https://doi.org/10.24310/ejfbejfb.v9i2.5678
Included in
Asian Studies Commons, Entrepreneurial and Small Business Operations Commons, Technology and Innovation Commons
