Strategic Management and Innovation Development of Family Business: Based on the Case Study of Family Business of Ningbo T Group Company
DOI:
https://doi.org/10.71222/nhmtvh60Keywords:
innovation and development, strategic management, family businessAbstract
Strategic management plays a vital role in the internal governance of family-owned enterprises. Compared to other types of businesses, family firms often encounter unique challenges during their operation and growth. Without timely adjustments to their strategic direction in line with industry trends and their own organizational realities, these enterprises risk falling into stagnation and losing their competitive edge. This paper takes Ningbo T Group—a representative family-owned business — as the focal point to examine the current status and shortcomings of strategic management in such enterprises. It further investigates the underlying causes of these issues and proposes innovative management approaches to address them. By exploring the company’s brand positioning, innovation initiatives, human resource strategies, and family governance mechanisms, this study uncovers the key drivers behind its sustained success in the highly competitive kitchen appliance industry. The findings aim to offer practical insights and guidance for the strategic development of other family businesses, highlighting the value of quality-driven growth and continuous innovation as cornerstones of long-term viability.
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