Abstract

Family business is the most predominant form of business in the world and contributing greatly to the global economy. Given its significance, the survival, growth and success of family businesses have gained the attention of many research scholars. One big challenge for many family businesses, however, is the initiation of strategic change when facing environmental threat. Research in education, social psychology, and marketing has demonstrated that storytelling is an effective persuasion approach. Building on this, the current study also emphasizes the use of facts in enhancing persuasion effectiveness. It answers the question of when and how the younger generation can use stories and/or facts to persuade the older generation.

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