This article addresses the issue of training next‐generation family members once they have joined the management team in their family firm. The qualitative analysis of strategic planning processes of 18 Italian family firms shows that involving next‐generation family members in the planning process benefits their developmental process. The findings indicate that this involvement provides the next generation with crucial tacit business knowledge and skills, facilitating interpersonal work relationships between incumbents and next‐generation leaders and building credibility and legitimacy for the next generation. The comparative analysis of the cases allowed us to identify the five variables that seem to combine in explaining much of the observed differences in the amount and composition of benefits experienced in the 18 firms. Our findings extend current understanding of two understudied topics in family business: the postentry‐phase training of the next generation and strategic management in family firms.

Purpose Current approaches to measuring family business performance have limitations: failing to acknowledge the entire family business holistically, and lacking recognition of the idiosyncratic nature of family business goals. By applying organizational effectiveness and the achievement of desired organizational outcomes, the purpose of this paper is to develop a scale to measure performance based on a family business’ idiosyncratic goals. Design/methodology/approach This study applies mixed methods, including qualitative research, two surveys and structural equation modeling. Findings The authors develop a scale employing 21 items, representing six goal dimensions, to measure the family business performance. Originality/value The family business performance measurement scale from this study responds to multiple calls for a scale gauging family business performance in a manner including both financial and non-financial outcomes.

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