The Seidman College of Business’s Family Owned Business Institute’s mission is to champion and serve family owned businesses through education, research and advocacy.
In September 1999, the Seidman College of Business and the Grand Rapids Area Chamber of Commerce (working with its Family-Owned Business Council) raised $301,000 from a salute to Jay Van Andel and Rich DeVos. This became the seed money for the Family Owned Business Institute, housed at the downtown campus of Grand Valley State University.
Very little has been studied about how family businesses approach innovation. This study will explore how family firms search for new ideas outside the firm boundaries, and also what factors may encourage or discourage their efforts to be more innovative (family dynamics, level and nature of family involvement in the firm and the nature of their relationships with external stakeholders, including philanthropic activity).
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