The Strategic Resources and Competitive Performance of Family-Owned and Non-Family-Owned Firms in the Retail Business of Los Angeles

This paper aims to analyze the theoretical concepts of the resource-based view and resource dependence theory, revealing the reasons why strategic resources differ in their influence on competitive performance across family-owned and non-family-owned businesses. A systematic review of the literature was conducted, using relevant keywords and academic databases. Then, the backward search was implemented to examine the references of the selected papers, and finally, the forward search to explore the citations of the selected papers. After the selection of papers, they were classified according to their content. Finally, a thorough examination of the extant literature was done in Scopus and Google Scholar using a combination of keywords such as family-owned business, non-family business, retail business, and Los Angeles. The paper hypothesizes how ownership structure influences the performance implications of strategic resources. The results of a survey of 214 retail managers in Los Angeles indicate that financial and technological resources are key drivers of performance in the family-owned retail business. In contrast, technological and human resources are key performance drivers in non-family-owned retailers. This study provides new perspectives and examines the impact of four types of strategic resources (i.e., financial, physical, technological, and human) on competitive performance in family-owned and non-family-owned businesses. The knowledge gaps were identified regarding the impact of firm performance and competitive resources that substantially affect firm performance.