Original Research

Business values as a strategic resource in indigenous black South African family businesses

Welcome Kupangwa, Shelley M. Farrington, Elmarie Venter
South African Journal of Business Management | Vol 54, No 1 | a3836 | DOI: https://doi.org/10.4102/sajbm.v54i1.3836 | © 2023 Welcome Kupangwa, Shelley M. Farrington, Elmarie Venter | This work is licensed under CC Attribution 4.0
Submitted: 30 November 2022 | Published: 28 August 2023

About the author(s)

Welcome Kupangwa, Department of Business Management, Faculty of Business and Economic Sciences, Nelson Mandela University, Gqeberha, South Africa
Shelley M. Farrington, Department of Business Management, Faculty of Business and Economic Sciences, Nelson Mandela University, Gqeberha, South Africa
Elmarie Venter, Department of Business Management, Faculty of Business and Economic Sciences, Nelson Mandela University, Gqeberha, South Africa

Abstract

Purpose: To identify the business values underlying the strategic decisions of indigenous black South African (IBSA) family businesses and to explore a possible relationship between these values and business outcomes.

Design/methodology/approach: The study adopted a qualitative methodological approach and utilised seven IBSA family business cases. Data were collected from 17 selected participants using semi-structured interviews. The reflexive thematic analysis method was used to analyse the data transcripts.

Findings/results: Ten business values were identified as underlying the strategic decisions of IBSA family businesses, namely customer focus, innovation and creativity, business traditions, continuous learning, employee empowerment and development, open communication, business sustainability, teamwork, partnerships and business reputation. These values are considered a strategic resource because they influence the strategic business decisions made and ultimately contribute to the business outcomes and long-term survival of the family business.

Practical implications: The study provides insights into the relationship between business values, strategic decisions and business outcomes in the context of IBSA family businesses. Therefore, family business owners and leaders should ensure that behaviours, actions and strategic decisions are aligned to their business values so that these values can serve as the strategic resource that scholars claim they are.

Originality/value: While several studies on values have been conducted in European or Western contexts, this study provides insights into the possible relationship between business values, strategic decisions and business outcomes from an indigenous African family business perspective.


Keywords

business outcomes; business values; family businesses; indigenous black South Africans; strategic decisions.

JEL Codes

L21: Business Objectives of the Firm; L26: Entrepreneurship; M14: Corporate Culture • Diversity • Social Responsibility

Sustainable Development Goal

Goal 8: Decent work and economic growth

Metrics

Total abstract views: 990
Total article views: 925

 

Crossref Citations

1. The role of strategic flexibility and dynamic capabilities on family business performance
Angela P. Pike-Bowles, Juliet Townes, Willie Chinyamurindi
The Southern African Journal of Entrepreneurship and Small Business Management  vol: 16  issue: 1  year: 2024  
doi: 10.4102/sajesbm.v16i1.767