Boosting Family Business Success: How Emotional Intelligence Make a Difference

What is it about?

The findings indicate that emotional intelligence skills can be leveraged to improve relationship marketing outcomes and that family businesses should prioritize training themselves and employees with strong social competencies to improve their relationship marketing outcomes. Furthermore, the study highlights the importance of emotional intelligence in building long-term relationships with customers and increasing the longevity of family businesses.

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Photo by krakenimages on Unsplash

Photo by krakenimages on Unsplash

Why is it important?

This study is important for several reasons: Enhancing Family Business Success: Family businesses are a vital part of many economies, and their longevity and success are crucial. This study investigates how emotional intelligence (EI) in family members can positively impact relationships with stakeholders and contribute to the long-term success of these businesses. Unique Regional Perspective: By focusing on family businesses in Mexico, the study offers a fresh perspective that diverges from the more common research settings in highly developed or major developing economies. This regional context is important, especially in light of Mexico's growing significance in global procurement and international relationships. Practical Insights: The findings of this study provide practical insights for family businesses worldwide. Understanding the role of EI and relationship marketing can help these businesses navigate the complexities of family dynamics while building and maintaining strong connections with customers and suppliers. Mixed-Methods Approach: The use of a mixed-methods approach, combining quantitative and qualitative research, adds depth and richness to the findings, making them more applicable and valuable for both researchers and practitioners.