The critical incidents behind the experiential learning of family business owner-managers
Keywords:
family business, owner-manager, experiential learning, critical incident technique, narrativeAbstract
This study examines the critical incidents behind the experiential learning of family business owner-managers. In Finland, 70 % of employing companies are family businesses, forming the bulk of the Finnish economy. The skills and choices of owner-managers are crucial to the renewal of family businesses. The data of this study consists of ten Finnish owner-managers’ interviews, gathered from three successful family businesses that have undergone business succession. The narratives of significant incidents were identified by using the critical incident technique. Through themes in the narratives, six types of critical incidents were identified related to the support sought and received, internal motivation, conflicts, changes and choices, the engagement of the growth environment and ownership, the balance between family and entrepreneurship, and to the company’s external operating environment as a challenger and helper. Even though events were positive or negative, they contributed to the growth of managers through experience. This study confirms previous research indicating, that the growth of entrepreneurs occurs more through experiential learning than through formal education. Owner-managers also saw learning through work as an internal motivating factor. This study provides empirical insight into the theory of experiential learning, leader- and adult education, and debate on family businesses.
