Complementary strategic directions and family microenterprises in an emerging economy.

Summary This thesis seeks to understand the impact of multiple strategic orientations on micro-family business performance in a developing economy context in three distinct phases. First, we asked whether family microentrepreneurs improve their performance by simultaneously developing entrepreneurial and market-oriented activities. We also explored whether these complementary strategic performance orientations are fostered by social capital, in the form of business and social ties. In addition, we raised a question about the effect of family intervention on performance in the context of multiple strategic orientations. The initial study provided a fruitful research theme on family business in an institutional environment. We showed that family microenterprises optimize their business performance by investing in higher levels of entrepreneurial and business orientation. Moreover, the process of socialization with the business environment increases performance through the combined effects of entrepreneurial and market orientations in an emerging economy context. Contrary to what one might think, the study found that firm performance increases when both orientations are high, but only when family involvement is low. This result improved the understanding of the influence of family on the development of strategic behaviors to achieve better performance. The subsequent study, examines and reveals the dark and light side of family in relation to entrepreneurial and market orientation strategies and its impact on performance. The final quantitative study contradicts previous research revealing the importance of family capabilities in supporting risky behaviors to increase family wealth in an emerging context.