Going Beyond Research on Goal Setting: A Proposed Role for Organizational Psychological Capital of Family Firms

Authors

  • Esra Memili,

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    • Esra Memili is Assistant Professor of Entrepreneurship, University of North Carolina at Greensboro, Bryan School of Business & Economics, Greensboro, NC 27402-6170.
  • Dianne H. B. Welsh,

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    • Dianne H. B. Welsh is Hayes Distinguished Professor of Entrepreneurship, Founding Director, Entrepreneurship Cross-Disciplinary Program, University of North Carolina at Greensboro, Bryan School of Business & Economics, Greensboro, NC 27402-6170.
  • Fred Luthans

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    • Fred Luthans is George Holmes Distinguished Professor of Management, University of Nebraska, Department of Management, Lincoln, NE 68510-0491.

  • The authors thank James J. Chrisman, Jess Chua, and Torsten Pieper for their comments on our presentation at the 2012 Theories of Family Enterprise Conference and ETP Guest Editor Lloyd Steier and two anonymous reviewers for their comments on the earlier drafts of this commentary.

Please send correspondence to: Esra Memili, tel.: (662) 617-1459; e-mail: e_memili@uncg.edu, to Dianne H. B. Welsh at dhwelsh@uncg.edu, and to Fred Luthans at fluthans1@unl.edu.

Abstract

Kotlar and De Massis found that membership assortment and the number of organizational members, as well as the imminence of succession, influence goal diversity in family firms. They also showed that goal diversity can be managed and family-centered goals can be stabilized through professional and familial social interactions, driving the formation of collective commitment to family-centered goals (CCFG). Using this research as a point of departure, we propose that CCFG may impact family firm economic and noneconomic performance. Furthermore, we introduce to the family firm literature the organizational psychological capital (OPC), consisting of hope, efficacy, resilience, and optimism. We also suggest that OPC may be more prevalent in family firms than in nonfamily firms. Moreover, OPC of family firms may play an important role in the link between CCFG and economic as well as noneconomic performance.

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