Business process innovations in family firms: evidence from Serbia

Paunović, Mihailo and Mosurović Ružičić, Marija and Lazarević-Moravčević, Marija (2022) Business process innovations in family firms: evidence from Serbia. Journal of family business management. ISSN 2043-6238

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Abstract

Purpose – This paper aims to explore the innovation performance of Serbian family firms, the differences in
the innovation performance between family and non-family firms as well as different family firms, and the
relationship between business process innovation and customer satisfaction among family firms.
Design/methodology/approach – The sample consists of 207 valid responses from young Serbian
companies from various industries founded in 2015 that published their financial statements in 2017. The
statistical analysis involved descriptive statistics, reliability analysis, independent samples t-test, one-way
ANOVA, and correlation analysis.
Findings – The study results indicate that family businesses in Serbia are innovation-oriented and that they
introduced a number of innovations in business processes related to the production and distribution of goods or
services and the development of products and business processes. The results also suggest that family and nonfamily firms are equally committed to introducing innovations in business processes. In addition, the study did not
confirm significant differences in the performance of business process innovations among family firms in the
manufacturing, trade, and service sectors. Finally, the results demonstrate that introducing business process
innovations is positively associated with customer satisfaction and customer retention rate in Serbian family firms.
Originality/value – This paper presents the first comprehensive analysis of the innovation performance of
Serbian family firms and can help policymakers assess the contribution of innovation to economic goals.

Item Type:	Article
Additional Information:	COBISS.ID=78519305
Uncontrolled Keywords:	family firms, non-family firms, innovation performance, business process innovation, Serbia
Research Department:	Innovation Economics
Depositing User:	Jelena Banovic
Date Deposited:	10 Nov 2022 20:26
Last Modified:	10 Nov 2022 20:27
URI:	http://35.240.28.64/id/eprint/1835
Author Links:	[error in script] No links available.

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