Relationship between Succession Planning and Retirement Variables Among Family Businesses in India: A Cross Gender Study

2011 ◽  
Author(s):  
Purva Kansal
Keyword(s):  
Succession Planning ◽  
Family Businesses ◽  
Gender Study

Successful family business succession: Utilizing peer groups for critical leadership skills development

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jenell Lynn-Senter Wittmer ◽  
Clinton Oliver Longenecker ◽  
Angie Jones
Keyword(s):  
Leadership Development ◽  
Family Business ◽  
Succession Planning ◽  
Leadership Skills ◽  
Peer Groups ◽  
Family Businesses ◽  
Business Leaders ◽  
Content Type ◽  
Critical Leadership ◽  
Business Succession

Purpose The current study explores the necessary leadership skills required for leadership succession in family businesses as well as best development activities for each skill. The current study provides suggestions for best practices in developing and utilizing peer groups as a leadership development method. Design/methodology/approach A needs assessment was conducted by surveying 150 family-business leaders. Leaders were asked, “What are your most pressing leadership development needs for your organization as you move toward succession? A follow-up question was then asked: “For each of these skills, what method would best help develop this skill for family business leaders?” The responses were content analyzed, placed into themes, and rank ordered. Findings High agreement amongst business leaders was found as eight leadership skills were cited by high percentages of family-business leaders. Leaders overwhelmingly reported peer developmental activities as being the best method for developing these skills. Originality/value Succession planning in family-businesses is critical as many family business fail to make it past the first or second generation. However, little research explores what specific leadership skills are necessary for optimal succession. As well, many leaders in public organizations seek individual methods of development, such as executive coaching, whereas family business leaders seek group activities to learn with/through their peers.

Europa: Managing Growth

2012 ◽  
pp. 1-12
Author(s):  
S. Manikutty
Keyword(s):  
Family Business ◽  
Succession Planning ◽  
Family Businesses ◽  
Family Resources ◽  
Discount Stores

The case deals with the issues in managing the growth of a family business engaged in retail and discount stores in Chennai. It highlights one of the strengths of family businesses, namely leveraging family resources into the business. The case also deals with issues of succession planning in family businesses.

Passing on the legacy: exploring the dynamics of succession in family businesses in Pakistan

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Asma AbdulRahim Chang ◽  
Muhammad Shujaat Mubarik ◽  
Navaz Naghavi
Keyword(s):  
Family Business ◽  
Succession Planning ◽  
Design Methodology ◽  
Family Firms ◽  
Family Members ◽  
Family Businesses ◽  
Content Type ◽  
Traditional Family ◽  
Interviewing Technique

PurposeBy taking the theory of entrepreneurial legacy as the baseline, this study explores the various aspects of succession planning in indigenous family businesses especially the role of female family members in succession and conflicts in family businesses.Design/methodology/approachThe study is qualitative in nature and adopts narrative inquiry to explore the aspects of succession planning. In doing so, the study utilizes an in-depth interviewing technique with nine participants who run their family-owned firms which are mostly in their second or third generation for analysis.FindingsThe findings are concurrent with the literature that indicates a lack of strategic succession planning although ordinary or natural succession does occur in some firms. The study also reports a lack of consideration for female members in succession, daughters in particular, for traditional family firms (FFs) in contrast to entrepreneurial FFs.Research limitations/implicationsThe study has many implications for family-owned firms in Pakistan as they need to align their family business with the theory of entrepreneurial legacy and its three strategic activities in order to ensure the longevity of their business.Originality/valueExploring how succession planning takes place in family indigenous family businesses and what is the role of female family members in succession and conflicts in family businesses are original contributions of this study.

Attributions for Family Business Failure: The Heir's Perspective

1996 ◽  
Vol 9 (2) ◽  
pp. 171-184 ◽  
Author(s):  
Karen Maru File ◽  
Russ Alan Prince
Keyword(s):  
Family Business ◽  
Succession Planning ◽  
Family Businesses ◽  
Business Failure ◽  
Financial Assets ◽  
Estate Planning ◽  
Estate Tax ◽  
Business Studies ◽  
Us Economy ◽  
The Us

Family business studies have focused on succession because of the incidence of family business failure and the importance of family businesses within the US economy. This study furthers the understanding of family business failure by making the distinction between succession planning (the management task of transitioning leadership) and estate planning (the task of transitioning financial assets and managing federal estate tax obligations) and using this distinction to better understand family business discontinuance. This study of 749 heirs of failed family businesses demonstrates that inadequate estate planning is more often associated with family business failure than is poor succession planning.

Identification of success factors for sustainability in family businesses

2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Suthawan Chirapanda
Keyword(s):  
Succession Planning ◽  
Success Factors ◽  
Local Community ◽  
Family Businesses ◽  
Japanese Family ◽  
Content Type ◽  
New Family ◽  
Food And Beverage ◽  
Key Steps ◽  
Business Succession

Purpose The purpose of this paper is to identify the important factors for sustainability in Japanese family businesses. Family businesses in Japan are well prepared in succession planning and have the greatest longevity of any in the world. Design/methodology/approach In this study, 15 family businesses in Japan were explored in the food and beverage, confectionary, services, handicraft, pharmaceuticals and manufacturing sectors. Findings The important sustainability factors identified in this study, innovation, competitive advantage, leadership and team management, and establishing good relationships with the local community are the key steps for achieving family business succession. Originality/value Startups and new family businesses in other countries can learn how to run a company successfully based on the Japanese model by applying the keys to success.

Determinants of Longevity and Success in Lebanese Family Businesses: An Exploratory Study

2006 ◽  
Vol 19 (3) ◽  
pp. 225-234 ◽  
Author(s):  
Josiane Fahed-Sreih ◽  
Salpie Djoundourian
Keyword(s):  
Decision Making ◽  
Succession Planning ◽  
Exploratory Study ◽  
Family Businesses ◽  
Decision Making Process ◽  
Participatory Decision Making ◽  
Advisory Boards ◽  
Family Meetings ◽  
Female Ceos ◽  
Female Ownership

This article explores the characteristics of Lebanese family businesses using a sample of 114 firms and tests various propositions regarding the relationships between correlates of effective succession planning and longevity. Successful family businesses in Lebanon exhibit a variety of responses to the variables that are conducive to success. The findings indicate that older firms are more inclined to use a participatory decision-making process, as evidenced by more reliance on advisory boards. A significantly larger proportion of older firms relative to younger ones holds family meetings and has formal redemption and liquidity plans. Firms in our sample are characterized by liberal attitudes: more than 75% consider female ownership acceptable and more than two-thirds of the firms respond positively to potential female CEOs.

scholarly journals Development model for family business successions evaluation with a South African Case Study

2013 ◽  
Vol 6 (1) ◽  
pp. 134
Author(s):  
Fidelis Emuze ◽  
Chris Adendorf ◽  
Graham Ward
Keyword(s):  
South African ◽  
Family Business ◽  
Succession Planning ◽  
Small Businesses ◽  
Qualitative Data ◽  
Family Businesses ◽  
Development Model ◽  
Succession Process ◽  
Successful Business

<p>Family businesses (FB) contribute between 45 and 90% to global gross domestic product (GDP). However, empirical research has raised the alarm pertaining to the need to prolong the longevity of such businesses. Findings indicate that within the next 5 years, over 50% of FB executives could retire from day to day running of such businesses. This highlights the significance of successful business successions. The dynamics around the succession process and the criteria influencing successful successions have thus engaged the attention of researchers. Therefore, the purpose of this study was to better understand the development of successors in FB. The study began with a literature survey through which a development model was identified. The study then went on to evaluate the model through an FB case study. The single qualitative case study was used to test whether the six (6) prepositions proposed in the model applied to the case that was studied. Through one-on one interviews and a qualitative data analysis, it was observed that the 6 prepositions were applicable to the FB. In other words, FB grappling with succession planning can be advised to endeavour to understand and take actions aligned with the prepositions.</p><strong>Keywords:</strong> Family businesses, Small businesses, Shareholders, Succession

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