Competitive Advantage Development in Family Firms by Transforming Entrepreneurial Orientation Into CSR

Abstract

The importance of family firms (FF) for industrialized and developing countries is vindicated due to their capacity to create employment, the considerable contribution to the gross domestic product (GDP), and their particular ability to create wealth. Entrepreneurial orientation (EO) and corporate social responsibility (CSR) are among the topics that have lately aroused the interest of FF related research. EO is considered a significant issue for firms´ survival and growth as it may help businesses to develop competitive advantage and lead to better performance. This chapter aims to shed light on the relationship between the EO of FF and their commitment to CSR as a source of competitive advantage. For this purpose, this chapter analyzes how the CSR concept has evolved and positioned in Spain. Thus, an overview of the EO construct is presented. Finally, an analysis of the EO-CSR interface is described with a particular focus on Spanish FF. Even though the focus in this chapter is on FF, the conclusions could be to some extent generalized to small and medium-sized enterprises (SMEs).