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Family Business and Social Capital
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Family Business and Social Capital

9781782544449 Edward Elgar Publishing
Edited by Ritch L. Sorenson, University of St. Thomas, US
Publication Date: 2013 ISBN: 978 1 78254 444 9 Extent: 304 pp
The chapters in this cutting edge book comprise scholarly work on social capital in family business along with chapters written by family business owners and advisors. Topics covered include social capital as it relates to governance, trust, family and business identity, communication, family councils, work–family balance, and the use of advisors and continuing education to build social capital. Novel in its approach of integrating the voices of scholars, business families, and advisors, this book is useful not only for business research and classroom use, but also for business families and their advisors.

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Critical Acclaim
Contributors
Contents
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The chapters in this cutting edge book comprise scholarly work on social capital in family business along with chapters written by family business owners and advisors.

As the research in family business evolves, scholars are exploring the issues that are unique to the field. From the start, research has been closely tied to the real world issues faced by business families. The genesis for this book is a conference on family business and social capital in which a wide variety of issues were presented and discussed. Participants included academics, family business owners and business advisors. Topics covered in the book include social capital as it relates to governance, trust, family and business identity, communication, family councils, work–family balance, and the use of advisors and continuing education to build social capital.

Novel in its approach of integrating the voices of scholars, business families, and advisors, this book is an invaluable tool not only for business research and classroom use, but also for business families and their advisors.
Critical Acclaim
‘In view of the fact that family businesses are passing through a difficult phase all over the world, this volume is a very timely publication. The analyses are based on and informed by the experiences and family dynamics of the developed West, particularly the United States. But the recommendations are not culture specific. Thus, the book can provide useful insight to the owners and managers of family businesses in the developing countries as well.’
– Dwijendra Tripathi, The Journal of Entrepreneurship
Contributors
Contributors: C.J. Bruess, J.C. Carr, M.A.T. Cronin, S.M. Danes, K. Eddleston, K.E. Goodpaster, K. Hayes, T. Hubler, T. McEnaney, W. Monson, A.W. Pearson, A. Pritchard, T.J. Rothausen, S. Shepard, T.S. Smith, R.L. Sorenson, K. Stafford
Contents
Contents:

Preface

Introduction and Overview

1. Social Capital and Family Business
Ritch L. Sorenson

PART I: UNDERSTANDING THE ELEMENTS OF FAMILY SOCIAL CAPITAL
2. The Central Role of Trust in Family Firm Social Capital
Allison W. Pearson and Jon C. Carr

3. The Trust Paradox of Family Businesses
Tom Hubler

4. Building Ethics in Families and Business
Ken E. Goodpaster

5. An Early Warning System for Family Conflict
Katherine Hayes

6. Summary of Dialogue: Observations About Trust and Ethics in Family Business
Trina S. Smith

PART II: CO-CONSTRUCTING FAMILY-BUSINESS SOCIAL CAPITAL
7. Family Social Capital as Family Business Resilience Capacity
Sharon M. Danes and Kathryn Stafford

8. Building Trust in Advising Family Businesses
Margaret A.T. Cronin

9. Family Rituals and Communication: The Construction of Family Identity and Social Capital
Carol J. Bruess

10. Creating Family and Business Social Capital: A Co-investigation with a Daughter and Granddaughter
Ritch L. Sorenson in collaboration with an anonymous daughter and granddaughter

11. Summary of Dialogue: Using Communication and Family Practices to Develop Social Capital
Trina S. Smith

PART III: COMPLEMENTING SOCIAL CAPITAL IN FAMILY AND BUSINESS
12. Leveraging Family Member Capacity for the Business and the Family
Teresa J. Rothausen and Ritch L. Sorenson

13. Our Family Enterprise
Terri McEnaney

14. Putting Family in Family Business: The Role of the Chief Emotional Officer
Angela Pritchard

15. The Family as an Internal and External Resource of the Firm: The Importance of Building Family-firm Identity
Kimberly Eddleston

16. Reclaiming our Identity as a Business-owning Family
Sylvia Shepard

17. Summary of Dialogue: Leveraging the Family-business Identity to Access Family and Business Resources
Trina S. Smith

PART IV: CONCLUDING MATERIALS
18. Summary and Conclusion: Social Capital in Business Families
Ritch L. Sorenson

19. Recommendations for Building Family Social Capital
Ritch L. Sorenson, William Monson and Trina S. Smith

Appendix A: Conference Participant Biographies

Appendix B: The Structured Dialogue Process
Ritch L. Sorenson

Appendix C: Summary of Comments from Owner, Advisor, Family Member, and Research Breakout Groups
Trina S. Smith and Ritch L. Sorenson

References

Index
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