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The purpose of this paper is to propose a new framework for the governance of 'modern' smart organisations that integrates IT‐based orientation to decision‐making, systems thinking through system dynamics modelling and cybernetics. The design of the proposed framework is based on the key role played by knowledge in the governance of organisations. The literature on ambidexterity, organisational learning, knowledge management and systems thinking is the adopted research background. A synthesis of the connection points between these fields is proposed within a theoretical framework named Smart Model‐based Organisations. The main result of this work is represented by the proposed Smart Model‐based Governance (SMbG) framework and an example of application. There are two main findings related to the contribution of the proposed framework: the overcoming of 'data‐based' approaches that favour rigidity in knowledge governance and the contribution of systems approaches that, increasing organisational involvement, improve knowledge governance. [ABSTRACT FROM AUTHOR]

This paper proposes a systemic model on the intertwined relations among managerialization, professionalization and firm economic performance, considering both business‐ and family‐specific features and issues. It sheds light on the role that, in the family business, the firm economic performance may play in favouring a positive development of both the business and the family itself. It aims at understanding how, in family businesses, the firm managerialization and professionalization may represent relevant drivers of firm performance. A Systems Thinking model based on causal loop diagrams was developed, to provide a clear framing of the interrelationships among the various aspects at stake. The conceptual model combines with systemic perspective all the variables and relationships that come into play when considering jointly the growth and development of the company and the family. This paper provides not only a conceptual background but also practical insights for family business' owners, managers and consultants. [ABSTRACT FROM AUTHOR]