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The aim of the study is to provide an analytical overview of the resources and their management ensuring competitiveness of Hungarian family wineries. Family businesses need to be conscious of their various resources and to be able to identify and apply those to maintain competitiveness and to achieve the objectives. The awareness and possession of these resources is not in itself a sufficient basis; an organization-based optimal combination and effective integration are also crucial for success. The aims of the research carried out by the Budapest Business School were to identify and classify the existent and possible resources of Hungarian family business wineries. Furthermore, the research aimed to identify how these resources were integrated into the daily operation. Managing resources in an effective way and integrating them into a strategy is a creative, managerial task requiring metaskills, experience, and tacit knowledge. This qualitative empirical research proves that familiness can facilitate but also complicate the operation of family businesses. The study demonstrates that resource-based theory can explain the performance of family businesses as well as an optimal combination of resources allows to gain competitiveness, but a real competitive advantage is linked to the goal setting of the manager, whose tool is the efficient resource management. |
