Managing Innovation in Family-Owned Businesses A Comparative Study of India and Italy

Abstract

This study delves into the intricacies of managing innovation within the context of family-owned businesses, drawing a comparative analysis between India and Italy. Family-owned enterprises play a crucial role in the global economy, contributing significantly to employment and wealth creation. However, the unique dynamics of family businesses present both challenges and opportunities for innovation management. The primary objective of this research is to explore the factors that influence the innovation processes in family-owned businesses, with a specific focus on the distinctive cultural and contextual influences in India and Italy. By conducting a comparative analysis, the study aims to identify commonalities and divergences in the innovation strategies adopted by family businesses in these two diverse socio-economic environments. The research methodology involves a combination of qualitative and quantitative approaches, including surveys, interviews, and case studies. Data will be collected from a sample of family-owned businesses in both India and Italy, representing various industries and sizes. The analysis will consider key elements such as leadership structures, succession planning, risk tolerance, and external collaborations to understand their impact on innovation management.