In this chapter, we review the family business literature employing the same framework used in the 1996 annotated bibliography (Sharma et al., 1996). The first part consists of an update on how the definition of a family firm has evolved. The second uses the same strategic management framework adopted in the 1996 annotated bibliography to organize the issues examined and findings reported by researchers from 1996 to 2010. This framework looks at the strategic management process in terms of its components: goals and objectives; strategy formulation and content, strategy implementation, and control; management, leadership, and ownership; and organization performance. Issues addressed by researchers that we could not classify into one of these subject areas are grouped under nonstrategic management topics.
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