Financial Management as a Skill for the Development of Family Businesses
Keywords:
Financial management, Family entrepreneurship, Strategic competence, Family financesAbstract
Financial management is defined as the set of actions taken to manage resources with the aim of achieving the objectives for the growth, development, and sustainability of the entity (individual, company, or government). The purpose of this article is to conduct a literature review on financial management as a strategic competency for the development of family businesses. Through a bibliometric analysis, the main thematic trends on the research agenda are examined to identify opportunities for scientific research. The results revealed four thematic areas closely related to business strategy and sustainability; inclusion and financial performance; family finances and innovation; and entrepreneurial competencies and their effect on risk and investment. Thus, it can be concluded that financial management is a well-established cross-cutting dimension within family entrepreneurship.
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