Critical success factors and best practices for business succession.

A comparison of family businesses in Germany and the United Kingdom in the third generation.

Business & Finance, Management & Leadership, Management
Cover of the book Critical success factors and best practices for business succession. by Daniel Scheffold, GRIN Publishing
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Daniel Scheffold ISBN: 9783656606536
Publisher: GRIN Publishing Publication: March 3, 2014
Imprint: GRIN Publishing Language: English
Author: Daniel Scheffold
ISBN: 9783656606536
Publisher: GRIN Publishing
Publication: March 3, 2014
Imprint: GRIN Publishing
Language: English

Master's Thesis from the year 2013 in the subject Business economics - Business Management, Corporate Governance, grade: 1,3, University of Applied Sciences Stuttgart (Fakultät für Wirtschaft), course: General Management/ International Business Management, language: English, abstract: Purpose: Knowledge of the factors that influence success in the succession of family businesses is limited. Despite recent studies, theory cannot explain why only 10 % of all family businesses make it to the third generation. The aim of this dissertation is to identify critical success factors for succession in family businesses. Methodology: A qualitative multiple-case study design with third-generation family businesses, two from Germany and one from the UK was employed. A cross-case analysis was carried out to identify critical success factors and then complemented by a single-case analysis. Findings: Nine of the ten tested hypotheses were confirmed. These were successor development, professionalization, knowledge transfer, capital structure, corporate governance, family harmony, stepping aside, succession planning and long-term orientation. The hypothesis about dividend policy was not confirmed. No significant differences were found to be based on national influence. Practical Implications: From the results, a new model for family business succession is developed which leads to four best practice recommendations. These are the implementation of shared leadership, linking ownership to management; ensure communication in the family to create family harmony and the use of outside consultants. Limitations: Due to the case study design, this research does not provide statistical generalizable findings. Originality/ Value: This study increases the knowledge about critical success factors of succession in family businesses. The use of cases from two countries and three different industries increases the significance. The newly developed model for family business succession proposes a new view on the succession process that should be tested by future studies.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Master's Thesis from the year 2013 in the subject Business economics - Business Management, Corporate Governance, grade: 1,3, University of Applied Sciences Stuttgart (Fakultät für Wirtschaft), course: General Management/ International Business Management, language: English, abstract: Purpose: Knowledge of the factors that influence success in the succession of family businesses is limited. Despite recent studies, theory cannot explain why only 10 % of all family businesses make it to the third generation. The aim of this dissertation is to identify critical success factors for succession in family businesses. Methodology: A qualitative multiple-case study design with third-generation family businesses, two from Germany and one from the UK was employed. A cross-case analysis was carried out to identify critical success factors and then complemented by a single-case analysis. Findings: Nine of the ten tested hypotheses were confirmed. These were successor development, professionalization, knowledge transfer, capital structure, corporate governance, family harmony, stepping aside, succession planning and long-term orientation. The hypothesis about dividend policy was not confirmed. No significant differences were found to be based on national influence. Practical Implications: From the results, a new model for family business succession is developed which leads to four best practice recommendations. These are the implementation of shared leadership, linking ownership to management; ensure communication in the family to create family harmony and the use of outside consultants. Limitations: Due to the case study design, this research does not provide statistical generalizable findings. Originality/ Value: This study increases the knowledge about critical success factors of succession in family businesses. The use of cases from two countries and three different industries increases the significance. The newly developed model for family business succession proposes a new view on the succession process that should be tested by future studies.

More books from GRIN Publishing

Cover of the book Global and Capable Quality Management by Daniel Scheffold
Cover of the book The Passionate God by Daniel Scheffold
Cover of the book Evolution in H.G. Wells's 'The Time Machine' by Daniel Scheffold
Cover of the book The Media System in Russia by Daniel Scheffold
Cover of the book Genres of drama. Instruments and protagonists of psychodrama by Daniel Scheffold
Cover of the book Marriages and the alternatives in Jane Austen´s 'Pride and Prejudice' by Daniel Scheffold
Cover of the book Historic and Ethnic Development of Ethiopia by Daniel Scheffold
Cover of the book The problem of Du and Sie in the German Language. An approach. by Daniel Scheffold
Cover of the book The Judenräte's role in the holocaust by Daniel Scheffold
Cover of the book Inner Culture - Inter Culture - Outer Culture by Daniel Scheffold
Cover of the book Focus - Background by Daniel Scheffold
Cover of the book The Central Banks of Europe, Japan, the U.S. and the U.K. Their Policy Responses to Specific Sets of Economic Challenges by Daniel Scheffold
Cover of the book Gender and Language Change by Daniel Scheffold
Cover of the book Township Tours in Southafrica by Daniel Scheffold
Cover of the book Estimated MPG and The First Amendment by Daniel Scheffold
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy