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Author: C. Aronoff
Publisher: Springer
ISBN: 1137512083
Category : Business & Economics
Languages : en
Pages : 103
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Book Description
Helps to prepare for passing the family business on to the next generation. Leaders will learn how to create a succession plan; how to develop opportunities for succession candidates; how to build consensus with the family and leaders on succession plans and finally leaders will learn when and how to let go of their own role in the business.
Author: C. Aronoff
Publisher: Springer
ISBN: 1137512083
Category : Business & Economics
Languages : en
Pages : 103
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Book Description
Helps to prepare for passing the family business on to the next generation. Leaders will learn how to create a succession plan; how to develop opportunities for succession candidates; how to build consensus with the family and leaders on succession plans and finally leaders will learn when and how to let go of their own role in the business.
Author: Ritch L. Sorenson
Publisher: Edward Elgar Publishing
ISBN: 1782547541
Category : Business & Economics
Languages : en
Pages : 255
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Book Description
•The editors should be commended for developing a Map of the Landscape of Family Business Outcomes. It gives future research direction to the discipline considering both short-term profitability and long-term sustainability. It considers conventional c
Author: Moritz Fehrer
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This thesis highlights the importance of understanding succession processes within family businesses. It examines how and why family members influence the succession process, using case studies of family businesses in the German Mittelstand. These are important questions,yet most previous research on family business succession has focused on the current CEO and the immediate successor, paying little attention to the wider family. The findings of this study show the diverse perspectives of family members, highlighting the maternal role in the succession process. This study opens up a new perspective about how much family needs and desires influence the succession process in family businesses, and vice versa. The cases reveal that strategic decision making within family businesses does not take place at the office but at home in private, and that family members, regardless of their formal status with the business, have a certain influence. The thesis adds value to our empirical and practical knowledge of family businesses and their dynamics. It clearly demonstrates that family businesses do not follow strict strategies but are flexible and fast in adapting to new circumstances and challenges. Previous research has largely neglected the role of wider internal and external stakeholders during the succession process, and has also failed to address the important question of successor motivations. To date, studies have focused solely on financial motivators or the absence of adequate alternatives as the main reasons why the younger generation engages in the family business. The results of this thesis provide a more nuanced understanding of successor commitment and motivations for taking on the emotional challenge of managing the family firm. To further enhance our understanding of how and why family members influence the succession process in the family business, this thesis draws on the Strategy as Practice approach. This perspective captures a more accurate picture of real-life succession processes by taking into account the interests and behaviour of directly and indirectly involved family members. In contrast to other approaches, the Strategy as Practice approach captures real-life decision making in everyday business and was chosen to theoretically underpin and guide the empirical work of this thesis, which consists of five case studies conducted in the German Mittelstand in the period from 2011 to 2014. Key words: Family business, succession, transition, incumbent, predecessor, holistic family approach, nepotism, emotional hazard, legitimation, Strategy as Practice.
Author: Gregory Monday
Publisher: American Bar Association
ISBN: 9781641056915
Category : Law
Languages : en
Pages : 188
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Book Description
"This book provides lawyers with step-by-step guidance on how to lead family business owners through the succession planning process to produce a result that is tailored to the unique circumstances and objectives of the owners and their successors."--Back cover.
Author: Michael A. Lobraico
Publisher: BPS Books
ISBN: 1926645693
Category : Law
Languages : en
Pages : 174
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Book Description
Whether big or small, global or local, family businesses are the engine of wealth and security for owners, families, employees, and business as a whole. But as this book shows, that engine can easily break down: If the family, ownership, and business circles related to the business fail to hold regular and candid conversations that clarify ownership's intent for the business and the rules for family members' ownership of and employment in the company And if the business fails to run itself on solid, independent business principles Using an entertaining case study of a composite company, Blooms Floral, the authors coach readers in how to conduct these conversations to ensure that future generations of their family business not only survive, but thrive.
Author: Kelin E. Gersick
Publisher: Harvard Business Press
ISBN: 087584555X
Category : Business & Economics
Languages : en
Pages : 316
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Book Description
Generation to Generation will help managers understand the special dynamics & challenges that family businesses face as they move through their life cycles. It explains how to handle succession, & the role of non-family professionals.
Author: Arist von Schlippe
Publisher: Springer
ISBN: 9783030602024
Category : Business & Economics
Languages : en
Pages : 246
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Book Description
This book focuses on a central success factor for family businesses: maintaining the decision-making ability over generations while not jeopardizing the business due to family conflict, inefficient governance structures, or lack of identification. The authors identify that this is not as easy as the endeavor to bring two social systems together with contradicting logic (family and business) leads to many dangerous pitfalls. This book presents outcomes of a unique research project in which family managers of eleven of the oldest and largest German family businesses, at least the fourth generation, met for more than three years on a regular basis and presented the essence of their family governance structures to each other and to the authors. It was a joint “learning journey” that admits identifying twelve core questions that these families had been answering to keep up the relationship between family and business successfully over generations. Obviously, there is no “right” answer to these questions. The key to success is rather engaging the families in a process to find out their own answers and make them aware of the “two sides”: being a family is different from being a business family.
Author: Alexander Schmithausen
Publisher: GRIN Verlag
ISBN: 3656262810
Category : Business & Economics
Languages : en
Pages : 19
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Book Description
Research Paper (postgraduate) from the year 2012 in the subject Business economics - Business Management, Corporate Governance, grade: 1,0, University of Edinburgh (Business School), course: Method of Research, language: English, abstract: Business succession is always a challenging time for any business, but generational change is often a critical factor in the success or demise of family-run businesses. During period of generational change, the company offers both the incumbent and the successor a great challenge. This sensitive issue thus has to be conducted with careful planning because it is one of the most critical phases in the life cycle of a company, with a lot of chances and risks linked to the process. Further successions are also complicated, with half of established family run companies successfully reaching the second generation stage, but only around three or four percent successfully mastering the handover to a third generation. The causes of these succession issues are varied, and the challenges they create will be investigated in this piece. As such, further research is needed in this area, including the specific succession challenges faced in German Family Businesses, and strategies to overcome them. The primary research question is: What are the key generational challenges faced by German Family Businesses, and to what extent do they create risks of failure for these businesses?
Author: Veland Ramadani
Publisher: Springer Nature
ISBN: 3030477789
Category : Business & Economics
Languages : en
Pages : 219
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Book Description
This book provides an extensive overview of family business-related topics such as context and uniqueness, lifecycle and ownership configurations, conflict management, corporate governance, succession challenges, internationalization, innovation, and socioemotional wealth. Each chapter features clear learning objectives, key concepts and terminology, and dedicated case studies to demonstrate the main messages. The book not only considers the day-to-day dynamics in family businesses, but also places substantial emphasis on the entrepreneurial skills needed for these businesses to survive and thrive, today and tomorrow. In addition, it elaborates and discusses a number of best practice examples, which offer valuable guidance not only for scholars, but also for students who wish to study these challenges.
Author: R. Carlock
Publisher: Springer
ISBN: 0230294510
Category : Business & Economics
Languages : en
Pages : 322
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Book Description
The authors explore how effective planning and communication helps business families around the world address growth challenges as they strive to become high performing multi-generation family enterprises. This book shows family businesses working together at their best.
