Success Factor Priorities for the Succession of Family Firms

Cho, Namjae

doi:10.7903/cmr.21939

Cited by 2 publications

(1 citation statement)

References 38 publications

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“…Many articles (Murray, 2003;Sharma, Chrisman and Chua, 2003;Brockhaus, 2004) analyze the succession process from psychological, emotional, and cultural perspectives. Other studies (De Massis, Chua and Chrisman, 2008;LeCounte, Prieto and Phipps, 2017;LeCounte, 2020;Cho et al, 2022) analyze the general stages of succession according to the leadership style of the leader who has full responsibility for the process. Succession represents an opportunity for changes in the family business (Zhang et al, 2021;Cho et al, 2022) and has to: maintain cohesion within the family; keep the business in the family heritage; preserve assets and jobs.…”

Section: The Peculiarities Of the Succession Process In Recent Yearsmentioning

confidence: 99%

Family business succession in ICT-based industries

Stănciulescu,

Ioanid

2023

JESI

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Succession in family businesses represents an essential stage in the company's life, but also of the family, the success of the process being linked to the family heritage. Transferring the business to the next generation is a complicated process that involves careful analysis of all elements involved (family, management, ownership). These elements will undergo substantial changes following the succession process. Even if the studies on family businesses have become more numerous in recent years, the research on the succession process and succession strategies is relatively limited. Conversely, the general conclusions are related to large businesses in the second or third stage of business transfer to the next generation. Consequently, this study aims to address some specific issues related to the ICT-based family business succession process in Romania from the last decade, when family businesses reached the point of the first business transfer. Specifically, there are three research questions: (Q1) What are the new succession strategies, given the significant changes in the economic sector in recent years? (Q2) Is the level of formal education a sufficient criterion to decide the successor in an ICT-based family business? (Q3) Is succession a way of implementing innovative strategies to ensure business continuity and growth? The study is based both on secondary research (survey of articles and studies published in recent years) and primary research: questionnaire-based surveys of founders and successors of ICT-based family businesses in the book publishing industry, but also in other technological fields of interest (serving as a base of reference). The findings provide clarifications or suggestions for successfully developing the succession strategies in the ICT-based family businesses in Romania.

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Section: The Peculiarities Of the Succession Process In Recent Yearsmentioning

confidence: 99%

Family business succession in ICT-based industries

Stănciulescu,

Ioanid

2023

JESI

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Developing future leaders in Malaysian public universities: the factors influencing execution of succession planning

Keerio,

Ahmad

2023

JARHE

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PurposeSuccession planning is an emerging area for research in higher education institutions worldwide; however, literature is scarce in the context of developing countries like Malaysia. The factors that have an influence on the execution of succession planning in public universities are the primary goal that has been set for achieving the study's goal. Moreover, the development of leadership in institutions has been taken by adopting formal succession planning. This study aims to be explore the factors that can contribute to the successful execution of the plan, particularly in higher education institutions in Malaysia.Design/methodology/approachThe study employed the qualitative approach. The registrars have been selected by using purposive sampling technique for face-to-face interviews from five public research universities of Malaysia. The in-depth data can be collected at research universities as they are old and comprehensive universities of Malaysia. The data were analysed through thematic analysis.FindingsThe number of factors that have been revealed through the findings are as follows: organisational culture, the support of top-level management, the strategic plan, the reward, the champion from top-level management and the budget. Further, the public universities of Malaysia required ensuring that all employees were aware of succession plan initiatives taken by institutions, although the system was challenged by not taking these factors into account.Originality/valueThe primary data have been collected to provide the insight regarding opportunities and challenges encountered in the implementation of succession planning in Malaysian public universities.

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Success Factor Priorities for the Succession of Family Firms

Cited by 2 publications

References 38 publications

Family business succession in ICT-based industries

Family business succession in ICT-based industries

Developing future leaders in Malaysian public universities: the factors influencing execution of succession planning

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