The Effects Of Institutionalization On Competitiveness And Business Performance In Family Businesses: An Application In Retail Sector
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https://doi.org/10.5281/zenodo.14045166Keywords:
Institutionalization, Family Business, Organizational Competitiveness, Business Performance, RetailAbstract
Institutionalization emerges as a critical process for ensuring sustainability and effective management in family businesses, contributing to the professionalization of strategic decision-making mechanisms and providing significant competitive advantages. These competitive advantages positively impact business performance, especially in the highly competitive retail sector. This study aims to examine the effects of institutionalization on business performance through competitiveness, based on data collected from 86 participants—both family members and professional managers—from 43 retail firms in Turkey with 15 or more branches. Since the retail sector is an area where market conditions and customer expectations change rapidly, especially after the pandemic, it is of critical importance for businesses operating in this sector to be successful in their institutionalization processes. The collected data were analyzed using structural equation modeling (SEM) via SmartPLS software. Findings reveal that institutionalization has significant and positive effects on competitiveness dimensions such as speed, quality, cost, and innovation. Additionally, speed- and quality-oriented competitiveness fully mediates the relationship between institutionalization and business performance. This finding indicates that institutionalization not only organizes internal processes but also strengthens the competitive position of the business in the market. The study's results underscore the importance for family businesses to enhance their institutional structures to increase competitive advantages and contribute to the limited literature on the relationship between institutionalization, competitiveness, and performance. In this context, the findings offer valuable insights for family businesses with an extensive branch network, serving as a strategic guide in decision-making processes.
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