Comparative analysis of the role of strategic orientation, strategic performance metric focus and strategic audacity in driving firm performance: family businesses vs nonfamily businesses

Purpose As family and nonfamily businesses differ in how they do business, the focus of this manuscript is on understanding strategy-level models can be misinterpreted if involvement not considered. Thus, manuscript, extent to which strategic orientations (market orientation technology orientation, reflect approach), performance metric (financial-based, optimization-based market-based, strategy evaluations) audacity (which reflects boldness envisioning delivering outcomes) play a role driving firm – vs businesses. Understanding these drivers impact differently enables companies better direct their efforts. Design/methodology/approach After presenting theoretical concepts, authors use regression analysis sample developing European Union (EU) country ( n = 282) evaluate separately three samples: full (consisting both nonfamily-owned firms), Findings The focal goals differs depending company type (family nonfamily). In case businesses, with efficiencies markets are performance. market important performance; financial indicators positively impacting performance, while efficiency diminishing results show that for some insignificant (strategic audacity), even have negative (focus measures performance) businesses' Moreover, financial-based outstanding Practical implications Best practices comparing them greater while, at same time, should refrain focusing pursuing as such pursuit drives down specific will enable firms navigate contexts characterized by ambiguity uncertainty. Originality/value evaluates models, generally researched overall metrics, between thus new insights into marketing concepts.