Advances in Management and Applied Economics

Evaluating the Effects of Market and Innovation Orientations on Family Owned Firms’ Performance: An Empirical Study in Istanbul

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• Abstract

  Beyond the classic idea of profit maximization and permanent growth aim to raise the firm performance, new generation and well-educated top level managers exactly know the obligation of implication modern theories and practices in organizations. Market and innovation orientations are two of new theories of this thought. This paper will try to evaluate the effects of using various strategic orientations on family-owned firm performance. The other tricky question is why it‘s chosen family owned-firms; it has a very simple answer: ninety eight percent of firms are family-owned firms in Turkey. That means in every one hundred firms there are only two firms driven by independent stakeholders. Briefly, any kind of evidence that can prove the strategic orientations may improve family-owned performance is the desired output of this empirical research.