Geopolitics and Family business research: A perspective article

Abstract

The new world order, at the geopolitical and geo-economic levels, affects the structure and management of institutions and organizations across the globe, such as family businesses (FB). This study aims to explore the need to build a new FB theory based on these new challenges. This study was based on a scoping review method. The findings show it is feasible to build a new theory for FB from the geopolitical area, which reflects the new world order FB is entering and the effect it will have on its diverse elements. This study calls for revisiting how FB has been approached, taking elements from geopolitical theory, and proposes a future perspective, the 5th wave in its research context, a novel view not found in the FB literature.