Dynamic capabilities in a sixth-generation family firm: Entrepreneurship and the Bibby Line

Jones, Oswald; Ghobadian, Abby; O'Regan, Nicholas; Antcliff, Valerie

Abstract

In this paper we draw on the theory of dynamic capabilities to examine development of the only surviving family-owned Liverpool shipping company. The Bibby Line was founded in 1807 to take advantage of the growing sea-trade based in Liverpool. The company remained in shipping until the mid-1960s, when a series of external crises led the owner, Derek Bibby, to begin a process of diversification. In the last 50 years, the Bibby Line has grown into a £1bn business with interests in retail, distribution and financial services as well as a continuing commitment to shipping. Our intention is to demonstrate how multigenerational ownership contributes to the creation of dynamic capabilities in family firms. The distinctive nature of Bibby as a long-standing family business is related to unique assets such as patient capital, flexible governance structures as well as the ability to mobilise social and human capital. © 2013 Copyright Taylor and Francis Group, LLC.

• Journal Article Type: Article
• Publication Date: Jan 1, 2013
• Journal: Business History
• Print ISSN: 0007-6791
• Electronic ISSN: 1743-7938
• Publisher: Taylor & Francis (Routledge)
• Peer Reviewed: Peer Reviewed
• Volume: 55
• Issue: 6
• Pages: 910-941
• DOI: https://doi.org/10.1080/00076791.2012.744590
• Keywords: dynamic capabilities, resource-based view, strategic renewal, familiness, entrepreneurship, shipping, diversification
• Public URL: https://uwe-repository.worktribe.com/output/934840
• Publisher URL: http://dx.doi.org/10.1080/00076791.2012.744590