Understanding entrepreneurial cultures in family businesses: A study of family entrepreneurial teams in Honduras

This study contributes to our understanding about entrepreneurial cultures in family businesses. Previous family business literature highlights that entrepreneurial cultures reside within a founding or incumbent generation. The identification and pursuit of opportunities leading to establishing or acquiring ventures revolves around a founder-centered culture. This view overlooks the way opportunity identification and pursuit become part of the culture in family firms. Interpretive methods were used to analyze six family business groups in Honduras. The unit of analysis is the family entrepreneurial team (FET), members of the family behind entrepreneurial processes. By focusing on the family entrepreneurial team this study shows that entrepreneurial cultures are transmitted via long intergenerational interaction and continued via involvement of junior generations in the identification and pursuit of opportunities. We argue that further attention to the family unit and alternative contexts extends our understanding of entrepreneurial cultures in family businesses. (C) 2012 Elsevier Ltd. All rights reserved.