Abstract

All family firms begin with the founder of the firm engaging in an entrepreneurial action to either start the venture or through some form of acquisition. The founder takes the risk and responsibility, and by extension, the shadow of this risk bears upon the founder’s family. Following the call of Bettinelli, Fayolle, and Randerson (2014) and Uhlaner, Kellermanns, Eddleston, and Hoy (2012) to further explore how entrepreneurship permeates and invigorates family firms, we have chosen to study the entrepreneurial behaviors exhibited between the family and the firm in this book chapter. Further, as family firms are often an active member of the community in which they are embedded (e.g., Dyer & Whetten, 2006), we consider the extent to which family firms perceive their external environment (e.g., market orientation, social environment) and engage in entrepreneurial behaviors, such as innovativeness.