Incentivizing change: how do family firms drive innovation? Family firms have untapped innovation potential, but it all depends on their incentive strategies. Elisa Villani, Christian Linder, Alfredo De Massis, and Kimberly A Eddleston have studied Human Resources Management (HRM) and uncovered two distinct paths taken by modernizers vs guardians of tradition. Modernizers are family firms that embrace change and innovation by breaking away from the past, while guardians of tradition uphold tradi
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