The emerging role of advisory boards in strategizing in family firms A sensemaking perspective

344 Pages·2017·11.59 MB·English

J
u
d
ith
v
a
n
The emerging role of advisory boards in strategizing H
e
in family firms lve
r
t-B
e
A sensemaking perspective u
g
e
ls
This thesis addresses the emerging role of advisory boards in strategizing in privately held
family firms, focusing on the period in which family firms start considering to work with an
advisory board through the board’s first years of existence. A micro-level strategy perspective
is combined with insights from sensemaking theory to understand how the practitioners Th Doctoral Thesis
e
involved make sense of this new strategy arena. Empirically, the study is based on four e
m
real-time, longitudinal case studies that primarily use observations along with interviews erg
and secondary documents. The within- and cross case interpretations are integrated into a ing The emerging role of advisory boards in
conceptual model that explains how the roles of advisory boards in strategizing emerge over role
o strategizing in family firms
time. f a
d
v
is
This study finds that advisory boards emerge into unique configurations through sense- ory A sensemaking perspective
making activities. The various ways of sensemaking (individual, mediated and collective bo
a
sensemaking) regarding content and the role and tasks of the advisory board explain the rd
s
differences between the cases. Two underlying causal mechanisms are identified that drive in s
the sensemaking processes: the learning orientation of the practitioners involved and the tra
(a)symmetry between the advisory board members on the one hand and the family firm tegiz Judith van Helvert-Beugels
decision makers on the other hand. ing
in
fa
m
This dissertation contributes to our current understanding of advisory boards and their role ily
in strategizing in family firms. Second, it contributes to the strategy as practice literature by firm
addressing a new arena involved in strategizing that contextualizes over time and attending s
to the processual dimensions, the content dimensions, the outcomes of the process and the
outcomes generated by strategizing.
JUDITH VAN HELVERT-BEUGELS is a researcher at the Dutch Center
of Expertise in Family Business at Windesheim University of Applied
Sciences in the Netherlands. She holds a Master of Science degree in
International Business Studies (Maastricht University). Her research
efforts focus on advising in family firms, strategic entrepreneurship J
IB
and organizational development, following an engaged scholarship S
D
approach. Her teaching activities are various and concern themes such is
s
as governance in SME family firms, finance and strategic management. er
ta
tio
n S Jönköping University
er Jönköping International Business School
ie
ISSN 1403-0470 s N JIBS Dissertation Series No. 120 • 2018
ISBN 978-91-86345-82-2 o
. 1
2
0
J
u
d
ith
v
a
n
The emerging role of advisory boards in strategizing H
e
in family firms lve
r
t-B
e
A sensemaking perspective u
g
e
ls
This thesis addresses the emerging role of advisory boards in strategizing in privately held
family firms, focusing on the period in which family firms start considering to work with an
advisory board through the board’s first years of existence. A micro-level strategy perspective
is combined with insights from sensemaking theory to understand how the practitioners Th Doctoral Thesis
e
involved make sense of this new strategy arena. Empirically, the study is based on four e
m
real-time, longitudinal case studies that primarily use observations along with interviews erg
and secondary documents. The within- and cross case interpretations are integrated into a ing The emerging role of advisory boards in
conceptual model that explains how the roles of advisory boards in strategizing emerge over role
o strategizing in family firms
time. f a
d
v
is
This study finds that advisory boards emerge into unique configurations through sense- ory A sensemaking perspective
making activities. The various ways of sensemaking (individual, mediated and collective bo
a
sensemaking) regarding content and the role and tasks of the advisory board explain the rd
s
differences between the cases. Two underlying causal mechanisms are identified that drive in s
the sensemaking processes: the learning orientation of the practitioners involved and the tra
(a)symmetry between the advisory board members on the one hand and the family firm tegiz Judith van Helvert-Beugels
decision makers on the other hand. ing
in
fa
m
This dissertation contributes to our current understanding of advisory boards and their role ily
in strategizing in family firms. Second, it contributes to the strategy as practice literature by firm
addressing a new arena involved in strategizing that contextualizes over time and attending s
to the processual dimensions, the content dimensions, the outcomes of the process and the
outcomes generated by strategizing.
JUDITH VAN HELVERT-BEUGELS is a researcher at the Dutch Center
of Expertise in Family Business at Windesheim University of Applied
Sciences in the Netherlands. She holds a Master of Science degree in
International Business Studies (Maastricht University). Her research
efforts focus on advising in family firms, strategic entrepreneurship J
IB
and organizational development, following an engaged scholarship S
D
approach. Her teaching activities are various and concern themes such is
s
as governance in SME family firms, finance and strategic management. er
ta
tio
n S Jönköping University
er Jönköping International Business School
ie
ISSN 1403-0470 s N JIBS Dissertation Series No. 120 • 2018
ISBN 978-91-86345-82-2 o
. 1
2
0
Doctoral thesis

The emerging role of advisory boards in
strategizing in family firms
A sensemaking perspective
Judith van Helvert-Beugels

Jönköping University
Jönköping International Business School
JIBS Dissertation Series No. 120
Doctoral Thesis in Business Administration

The emerging role of advisory boards in strategizing in family firms: A
sensemaking perspective
JIBS Dissertation Series No. 120

© 2018 Judith van Helvert-Beugels and Jönköping International Business School

Publisher:
Jönköping International Business School
P.O. Box 1026
SE-551 11 Jönköping
Tel.: [phone]
www.ju.se

Printed by BrandFactory AB 2018

ISSN 1403-0470
ISBN 978-91-86345-82-2
Voor Joost

On ne voit bien qu'avec le coeur. L'essentiel est invisible pour les yeux.
Antoine de Saint-Exupéry (1943)

iii

Acknowledgments
This journey of writing my dissertation has been so very rewarding and
challenging that I almost regret that it is over. Fortunately, this is just the start of
the life of a researcher! I have met so many nice persons in Zwolle, Jönköping
and at conferences across the world, and there is still so much to be learned, so I
hope that these last five years have established a basis for further collaboration
and interesting research projects. I am incredibly grateful for the contributions and
support of so many people. I am very happy to take this opportunity to thank you
all and I would like to say a few extra words to those who have been so closely
involved over the last few years.
I start by thanking my own advisory board: my supervisors Mattias Nordqvist
and Olof Brunninge and my supervisor at my home university, Ilse Matser. I feel
so fortunate to have been able to work with the three of you and it is because of
your guidance, feedback and stimulation that I have been able to finish this
dissertation. Mattias and Olof, you have been great mentors in my development
as an academic scholar. Even though it often took some time before I fully
understood your feedback because you are always ten steps ahead of me in your
thinking, it is because of your expectations, your stimulating feedback and
profound questioning that I have been able to persevere, learn so much and
improve the quality of my work. Thank you both for your intellectual guidance
and encouragement! Of course, I want to thank you Ilse. We have worked together
since the day I finished my master’s studies and started to work at Utrecht
University, and you know that it has always been my dream to be a researcher. It
is thanks to you that I ended up doing my PhD at JIBS and I am very grateful for
that. You are a great example and source of inspiration in terms of bonding and
bridging theory and practice. I am very happy that you have become the third
supervisor in the process and that we can celebrate this result together. You are
the best colleague one could wish for: thank you! A special word of thanks goes
to Marcella Ramirez Pasillas and Maria José Parada Balderrama, who helped me
to make sense of my research proposal at an early stage of the research process. I
am also indebted to Jonas Gabrielsson, who agreed to be the discussant at my final
seminar. Your constructive comments and suggestions and profound analysis of
my work have helped me improve my work and better communicate my ideas and
research findings.
I would have never been able to write this dissertation without the help of all
the practitioners involved in the study. Even though I cannot mention you by
name, I am very grateful for the openness and kindness of the owner-managers,
their families, other directors or members of the management teams involved, and
the advisory board members. All of you have been willing to share your ideas and
reflections and have provided me access to my arena of interest: the advisory
board meeting. It is my hope that this dissertation will be valuable to you and your
colleagues in understanding the process of emergence and the role of advisory
boards in strategizing.
v
I would also like to thank my current and former colleagues at the Dutch
Center of Expertise for family businesses at Windesheim. Thank you all for your
interest and support: Erik Veldhuizen, Mira Bloemen, Frank Bos, Jelle Bouma,
Klaas van der Kolk, Karin Rozendal, Jan Willem van der Vloot van Vliet,
Annemarie Beumers, Jolanda Knobel, Margré Heetebrij, Derk Jan Kiewiet,
Clemens Willig, Franscina Kant, Chantal Remery, Jasper Brinkerink, and Arjen
Dekker. A special thanks to Albertha Wielsma and Anita van Gils. Albertha, we
have started our adventure at JIBS together and I can still remember every detail
of our application “event,” and I am sure that you do too! I am very happy that we
have made this journey together. I have enjoyed our discussions during the dark
nights up north. Anita, you joined the Windesheim team during the last phase of
my PhD and I am happy you chose to work with us in Zwolle. I am looking
forward to continuing to learn from you in future research projects. I would also
like to thank Coen Rigtering. At the first stage of the data analysis, when
everything was still extremely messy, you helped me to bring in some structure,
after which I could continue. I consider this to have been a crucial stage of the
process, and your input was extremely worthwhile. I would also like to mention
Riejet Nijdam and Jan van Iersel because it was thanks to their entrepreneurial
attitude and openness to the potential of this development path for the expertise
center at Windesheim that our adventure at JIBS was supported by Windesheim.
I have very much enjoyed my time at JIBS. During travels back home, I always
felt so lucky and fortunate to be part of two worlds. Thank you very much to the
course leaders and all the others who made my stays at JIBS a pleasure: Leif,
Francesco, Ethel, Lucia, Karin, Leona, Anders, Per, Kajsa, Markus, Duncan,
Massimo, Naveed, Quang, Imran, Magda, and Hannah. In addition, thanks to all
my fellow PhD students: Sarah, Thomas, Matthias, Songming, Joaquin, Anne,
Gershon, Sam, Sumaya, Enrique, Martha, Pierre, Samuel, Samuel, Jean Bosco
and many others. I would also like to thank Susanne, Tanja, Danielle, Barbara,
and Ingrid for their support. A special word of thanks to my Dutch anchor in
Sweden: Andrea. Thanks for all the bits and pieces of advice and crashing on your
sofa from time to time. I also really enjoyed the fun time spent with the members
of the PBA club: Sylvie, Sari and Mira. I think we did a great job dealing with our
patheticness!
Finally, I would like to thank my family and friends. I cannot and do not expect
you to read the whole text. However, if you do, you will be rewarded with minor
references to all of you. Mom and Dad, I am very grateful for all the opportunities
you have provided and that you have given me confidence to pursue this journey.
You have taught me to persevere when needed, which was highly relevant to
completing this dissertation. Thank you for being always there when needed, one
of the great treasures in life.
Last but definitely not least, I want to thank Joost, my love, my better half, and
my companion in life. Thank you for always showing interest in my research and
your understanding and patience when I sometimes panicked. I am sure you
remember the moment when I thought I had lost some interviews…Our sweetest
little friend Marie has been a great help in leaving the desk more often and
vi
enjoying time together by going outside for some nice walks at the beach or in the
woods. Along this great journey, you have always made me remember that there
is so much more to life than studying family firms, and I love you for that. I
promise to NEVER miss any of your birthdays again.

Judith van Helvert-Beugels, December 2017
vii