Innovation implies newness. To define and measure innovation better, we investigated three dimensions of newness: what is new, how new, and new to whom? Drawing on prior research by Schumpeter and Kirzner, we developed a scale that addresses six areas of innovative activity: new products, new...

Purpose – This paper seeks to detail an exploratory examination of a multidimensional, creativity‐based theoretical model of opportunity recognition originally proposed by Hills et al. and later refined by Lumpkin et al. , but never empirically tested. The paper also aims to examine the...

The purpose of this special issue is to promote research on the role of family in nurturing entrepreneurial ventures as well as on the importance of strategic entrepreneurship in maintaining the strength and viability of established and multigenerational family firms. Two related research...

Long-term orientation (LTO), defined as <italic>the tendency to prioritize the long-range implications and impact of decisions and actions that come to fruition after an extended time period</italic>, is a common characteristic of many family businesses. Prior research is equivocal regarding whether an LTO...

Searching for a balance between social mission and financial viability is a distinguishing feature of social business ventures. This quest might lead to complex challenges and conundrums, similar to those that arise in family businesses composed of closely intertwined systems of 'family' and...