Commentary: Exploiting and Exploring New Opportunities over Life Cycle Stages of Family Firms
这篇评论探讨了家族企业在不同生命周期阶段如何通过同时进行渐进式、渐进式和激进式创新来获得可持续绩效优势，并建议根据企业生命周期和规模，在家族与非家族专业人员之间战略性地分配创新责任。
Family firms vary with regards to success achieved in terms of opportunity creation and exploitation over time. Elaborating on this variation, this commentary argues that firms that simultaneously engage in multiple levels of innovation—incremental, progressive, and radical—are likely to enjoy sustainable performance advantages across generations. Toward this end, a strategic split of innovation responsibilities between family and nonfamily professionals is likely to be useful, contingent on the firm's life cycle and size. In terms of entrepreneurial expertise, a combination of causal and effectual thinking is necessary to ensure exploitation of already discovered or created opportunities and exploration of new ones.