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0:00
Hello.
I am Alfredo De Massis.
I am Chair Professor of
Entrepreneurship and Family
Business at Lancaster
University Management School,
where I am also the
director of the school's
Centre for Family Business.
During my career, I have been
teaching about family business
and innovation at undergraduate,
master, and doctoral levels
at Lancaster and elsewhere.
I also teach in executive
education programs,
and serve as a scientific director
in executive programs about
innovation in family business.
And I also do consulting
to family business.
So today, I will be
talking to you about family
business and innovation.
0:42
Before we get started, I would
like to review today's agenda.
Well, as you will see,
it's made of five parts.
First, I will start
with an introduction
to innovation in family
business and showing
to you what we currently know.
Then I will provide some
hints about family governance
and its effects on innovation.
Then I will discuss the findings
from some of my published studies
on innovation in family business.
And finally, I will show
how family businesses offer
an extraordinary place to
leverage their tradition
in order to innovate, and I
will draw some conclusions.
1:25
So let's start with an
introduction to innovation,
and with an overview of what
we know about innovation
in family business.
1:36
Technological innovation can be
defined as the set of activities
through which a firm
conceives, designs,
manufactures, and
introduces a new product,
technology, system, and technique.
This is a quite old definition
provided by Freeman in 1976.
But this definition is broad
enough to include different types
of innovation,
because you can easily
imagine that here you have product
innovation, process innovation,
et cetera.
