Abstract
Following a leadership succession from one generation of family leadership to the next, family businesses often fail. When family businesses do not have a comprehensive succession plan, they have low sustainability for subsequent generations of leadership. This qualitative, multiple-case study explored methods for reducing family business failure following generational succession. The researcher collected data via semi-structured interviews. The themes that emerged from the data include (a) the reason for succession, (b) necessary leadership characteristics, (c) the succession process, (d) resistance to succession, and (e) the value of external help. Key recommendations include the value of starting the succession planning process early, identifying growth areas for potential successors, and garnering help from multiple external sources.
Recommended Citation
Rogers, Elissa Ann
(2023)
"Family Business Leadership Succession,"
Journal of Fundamental & Applied Business Research: Vol. 1:
Iss.
1, Article 7.
Available at:
https://digitalcommons.liberty.edu/jbr/vol1/iss1/7