As the world becomes globalized, administrative ways also get changed. It becomes inevitable for the businesses to develop strategies on this platform of change and competition. In family businesses, accommodation to these transformative processes is of importance both for the business owner and for the economy of the respective country.The family businesses that fulfil necessary changes are obliged to get institutionalized in order to maintain their sustainability. This is significant, because most of the family businesses do not last as long as to be managed by the third generation. One of the most remarkable reasons for this problem stems from the roles in the family businesses undertaken by the family members and other professionals. Institutional renewal and development depends on the decisions made by these actors. As mentioned above, the difficulties that arise out of intensive rivalry can only be overcome with the support of an enterprising actor who is to know how to take advantage of the opportunities. The actors of the family businesses (family members, professionals) can use their innovative skills within organizations where the principles of institutional entrepreneurship prevail. In this study, the concepts that are family businesses, institutionalization, and institutional entrepreneurship will be written on and the relations between the three will be explained. Besides the importance advantages and disadvantages of the family companies, the realation of institutionalization with that companies and process will be evaluated. In addition, in terms of corporate entrepreneurship the role of the estate in supporting these companies will be described.