Family Business in Futuristic Times: Marketing Focus in Family Run Restaurants in Post Covid Times
Authors
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SMSR, KLE Technological University, Hubblli, Karnataka ,IN
Nagaraj R. Navalgund -
bKLE Technological University, Dr. MSSCET, Belagavi, Karnataka ,INSanjay Hanji
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SMSR, KLE Technological University, Hubblli, Karnataka ,INShashidhar Mahantshetti
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Symbioses Center for Management and HRD, Pune, Maharashtra ,INGurudas Nulkar
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Siddaganga Institute of Technology, Tumakuru, Karnataka ,INRajeshwar S. Kadadevar Math
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Gnanam School of Business (GSB), Trichy,Tamilnadu ,INP. Aranganathan
DOI:
https://doi.org/10.18311/jmmf/2023/33386Keywords:
Family-owned business, restaurants, firm performanceAbstract
The food service industry is expanding quickly and is predicted to create a large number of jobs in the coming years.Indian food service industry is dominated by family owned businesses. In the post-pandemic times, the survival and sustainability of family-owned restaurants are posing a new set of challenges. Hence, this paper tries to ascertain whether the green initiatives, social engagement practices and customer centric approach have an influence on the firm performance of familyowned restaurants when they are moderated by risking taking and creative thinking abilities of the owner.The study employed a cross-sectional design and a quantitative methodology. The data was collected from 354 restaurant owners from different districts of south Indian states viz., Karnataka, Maharashtra and Goa. The results revealed that green initiatives and societal engagement influenced firm performance. Customer centric approach only influenced firm performance when it was moderated by critical thinking abilities of the owner. Discussions are carried out based on the study findings and suggestions are made.
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