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The Identification and Exploitation of Entrepreneurial Opportunities on Family-Owned Estates in the North-East of Scotland

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The Identification and Exploitation of Entrepreneurial Opportunities on Family-Owned Estates in the North-East of Scotland GRANT, G.A.I. 2020. The identification and exploitation of entrepreneurial opportunities on family-owned estates in the north-east of Scotland. Robert Gordon University [online], PhD thesis. Available from: https://openair.rgu.ac.uk The identification and exploitation of entrepreneurial opportunities on family-owned estates in the north-east of Scotland. GRANT, G.A.I. 2020 The author of this thesis retains the right to be identified as such on any occasion in which content from this thesis is referenced or re-used. The licence under which this thesis is distributed applies to the text and any original images only – re-use of any third-party content must still be cleared with the original copyright holder. This document was downloaded from https://openair.rgu.ac.uk THE IDENTIFICATION AND EXPLOITATION OF ENTREPRENEURIAL OPPORTUNITIES ON FAMILY- OWNED ESTATES IN THE NORTH EAST OF SCOTLAND. Graham AI Grant A thesis submitted in partial fulfilment of the requirements of The Robert Gordon University for the degree of Doctor of Philosophy. April 2020 Acknowledgements I would like to thank my Supervisors, Professor Heather Fulford and Professor Peter Reid, for their help, support and kindness through the journey that this research has undertaken. Thanks to my parents: Dr Eric Grant for the wisdom of his own PhD experiences, and my beloved mother, Judith Grant. Thanks also to Rona Wilson for her exacting eye for detail, the late Robin Maitland for his expert insights, and all the case study interviewees who kindly agreed to participate. I dedicate this thesis to Lorraine Mai Cowie, the love of my life. Never say never. ii Abstract Family owned estates face challenges achieving economic stability. Estate owners, including those in the North East of Scotland, the focus of this study, are committed to perpetuating family ownership. To enable this, entrepreneurial diversification is advocated by both landowner associations and rural consultancies. However, upper class estate owners have historically been perceived to be reluctant to engage in entrepreneurial activities, and some remain so. With other remunerative options available to them, this research investigates the identification and exploitation of entrepreneurial opportunities by estate owners in the North East of Scotland. Multiple perspectives drawn from institutional and entrepreneurial theory provide insights into estate owners’ embeddedness in the institutions of family and social class, and their influence on the socially constructed nature of entrepreneurial motivations, personality and process. Individual case studies of estate owners in the North East of Scotland provide rich insights into what activities estate owners engage in, and how and why they identify and exploit entrepreneurial opportunities. Cross-case analysis identifies patterns of similarity and difference between individual estates. Case state estate owners are found to engage in similar ranges of activities, with a minority identifying and exploiting differentiated opportunities. Motivations are layered in nature. Explicit commitments to community, and implicit commitments to family, motivate estate owners to ensure continued financial stability of their estates. Awareness and identification of estate resources are push factors for estate owners to engage in entrepreneurial activities. Their entrepreneurial process consists of multiple, overlapping journeys which consist of phases of awareness, identification, development, action and outcomes. Estate owners whose continued entrepreneurial activities have short term requirements have retained traditional identities of estate owners or farmers, whereas those whose activities are planned to continue over a longer time are those who have embraced - albeit partially - entrepreneurial identities. Contributions have been made to theory and understanding in the areas of entrepreneurial process, personality, and motivation. Contributions to policy and practice include recommendations for enterprise and / or landowner support organisations and to policy makers to support estate owners engaging in entrepreneurial activities. Finally, methodological contributions are made to the iii process of sampling and interviewing elites and the use of individual case studies of elites and cross-case analysis. Keywords: estates, class, family, entrepreneurship, opportunities, institutional theory iv Table of Contents Acknowledgements ................................................................................................. ii Abstract .................................................................................................................. iii Table of Contents .................................................................................................... v List of Tables ......................................................................................................... xi List of Figures ...................................................................................................... xii 1. Introduction ......................................................................................................... 1 1.1 The Research Problem ........................................................................................... 1 1.2 Rationale for an Exploratory Approach to the Research ................................... 2 1.3 Locating the Research ............................................................................................ 3 1.4 Aim and Research Questions ................................................................................. 3 1.4.1 Research Aim .................................................................................................................. 3 1.4.2 Research Questions ......................................................................................................... 3 1.5 Defining Estates ...................................................................................................... 4 1.6 The Upper Classes in Great Britain ...................................................................... 5 1.7 Estate Ownership .................................................................................................... 7 1.8 Estates in Scotland .................................................................................................. 8 1.9 Multiple Perspectives .............................................................................................. 9 1.10 The Research Approach ..................................................................................... 10 1.11 Structure of the Thesis ....................................................................................... 11 2. Literature Review .............................................................................................. 14 2.1 Introduction ...................................................................................................................... 14 2.2 Entrepreneurial Opportunities as an Orienting Concept ................................. 14 2.2.1 Approaches to Entrepreneurial Opportunities ............................................................... 15 2.2.2 Three Groups Which Critique the Discovery View of Opportunities ........................... 16 Developmental Approaches .............................................................................................. 17 Constructionist Approaches .............................................................................................. 17 Reconceptualising the Opportunity Construct .................................................................. 19 Implications ....................................................................................................................... 19 2.3 Family Influence on Business .............................................................................. 20 2.3.1 Definitions ..................................................................................................................... 20 2.3.2 Agency, Stewardship and Succession ........................................................................... 22 2.3.3 Socioemotional Wealth ................................................................................................. 23 The Promise of SEW ......................................................................................................... 23 Understanding Board Composition ................................................................................... 24 The Limitations of SEW .................................................................................................... 24 Applicability ...................................................................................................................... 25 2.4 Estate Owners and Social Class ........................................................................... 26 2.4.1 Models of Social Class .................................................................................................. 27 Weber ................................................................................................................................ 27 Hierarchical, Triadic and Dichotomous Models ............................................................... 28 Occupational Approaches .................................................................................................. 29 Bourdieu ............................................................................................................................ 30 Savage et al:
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